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WATERFALL ASSET MANAGEMENT, LLC

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13F filer, CIK 1570717, NEW YORK, NY

WATERFALL ASSET MANAGEMENT, LLC reported $189,425,417 across 6 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000905148-25-001749

Period
2025-03-31
Reported value
$189M
Holdings
6
Top 10 weight
100%
New
1
Sold out
0

Largest buys vs the previous quarter

None.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FPAYQreduced-3-$3

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0000905148-25-001749, largest first. % of portfolio is the value over $60,765,717, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
RCREADY CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,908,983 shares; 2024Q4: 3,908,983 shares; 2025Q1: 3,908,983 shares 3,908,983$19.9M32.74%0Timeline
FPAYQFLEXSHOPPER INC COM NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,629,547 shares; 2024Q4: 1,629,547 shares; 2025Q1: 1,629,544 shares 1,629,544$2.09M3.43%-3Timeline
RITMRITHM CAPITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 50,000 shares 50,000$578K0.95%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SPYSTATE STR SPDR S&P 500 ETF T SHSput230,000$129M-770,000

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
REDWOOD TRUST INCREDWOOD TRUST INC Convertibleprincipal32,992,000$32.7M-13,081,000
RITHM PPTY TR INCRITHM PPTY TR INC 9.875 FXD-FLT Cprincipal218,900$5.51Mnew

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000905148-25-001749 base2025-05-15acceptance time not in the bulk data set