Waterfall Asset Management, LLC

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
17
Total value ($000)
$185,844
Net value change ($000)
-716,747 (-79.4%)
New positions
4
Sold out positions
3
Turnover %
37.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/12/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
AVB 11,653 NEW
CPT 8,546 262.4%
NSA 8,423 NEW
ARI 5,557 NEW
RITM 3,564 86.6%
MRP 3,144 NEW
PK 2,537 187.5%
DX 2,034 110.4%
APLE 1,725 19.7%
AAT 1,310 20.5%
Top Reduces (Value $000, Stocks/ETFs)
RC -6,646 -43.9%
ELME -4,300 -100.0%
LINE -2,580 -41.1%
UDR -2,310 -100.0%
FPAY -1,045 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type