Instuitional Investor - Waterfall Asset Management, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Pennymac Financial Services Inc.BOND	PFSI	59,319,000	$61,622,621	34.46%
2.	Camden Property Trust	CPT	131,704	$12,862,213	7.19%
3.	Avalonbay Communities Inc	AVB	75,150	$12,275,753	6.87%
4.	Apple Hospitality Reit Inc.	APLE	935,516	$10,767,789	6.02%
5.	Rithm Capital Corp.	RITM	1,026,404	$9,734,784	5.44%