Waterfall Asset Management, LLC
Waterfall Asset Management, LLC is a New York-based asset manager specializing in investments in structured credit securities, whole loans, and related strategies. The firm was founded in 2005 and employs approximately 141 professionals. Waterfall serves institutional clients, including pension funds, insurance companies, endowments, family offices, and other sophisticated investors. The company is known for sourcing complex and differentiated investments in specialized sectors of the asset-backed finance markets, globally.
Investment Strategy
Waterfall Asset Management pursues a specialized investment approach focused on structured credit, asset-backed securities, whole loans, and related strategies across more than 60 sectors globally. The firm seeks opportunities in both publicly traded and privately negotiated markets, using a combination of evergreen and drawdown fund structures tailored to client risk tolerances and liquidity needs. Their investment philosophy emphasizes complex, differentiated, and niche investments designed to deliver attractive risk-adjusted returns.
Top Holdings
Equity Positions (8)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
R RC | READY CAPITAL CORP | 7.57% | $17.1M | 3,908,983 | $10.25 | $4.37 | -$2.8M |
A APLE | APPLE HOSPITALITY REIT INC | 2.07% | $4.7M | 400,000 | $11.67 | $11.67 | +$4.7M |
E ELME | ELME COMMUNITIES | 1.15% | $2.6M | 162,797 | $15.90 | $15.90 | +$2.6M |
F FPAY | FLEXSHOPPER INC | 0.87% | $2.0M | 1,629,544 | $1.03 | $1.20 | -$130.4K |
G GNL | GLOBAL NET LEASE INC | 0.67% | $1.5M | 200,000 | $7.55 | $7.55 | +$1.5M |
Options Positions (1)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | — | Put | $142.1M | 2,300 | $617.85 | $573.76 | 0 | +$13.4M |