Waterfall Asset Management increased its stake in Millrose Properties (NYSE:MRP), adding 219,984 shares in the first quarter, an estimated $6.62 million trade based on quarterly average pricing, according to a May 8, 2026, SEC filing.
What happened According to a May 8, 2026, SEC filing, Waterfall Asset Management bought 219,984 additional shares of Millrose Properties during the first quarter
The estimated transaction value was $6.62 million based on the average closing price from January through March 2026. The position’s quarter-end value increased by $5.96 million, a figure that includes both the share purchases and stock price changes during the period. What else to know – This buy brought the Millrose Properties stake to 5.09% of Waterfall Asset Management’s 13F reportable AUM as of March 31, 2026. – Top five fund holdings post-filing: – NYSE:CPT: $12.86 million (11.2% of AUM) – NYSE:AVB: $12.28 million (10.7% of AUM) – NYSE:APLE: $10.77 million (9.4% of AUM) – NYSE:RITM: $9.73 million (8.5% of AUM) – NYSE:BRSP: $8.25 million (7.2% of AUM) – – As of May 7, 2026, Millrose Properties shares were priced at $27, up 4.4% over the past year and vastly underperforming the S&P 500’s roughly 30% gain in the same period.
Company Overview Company Snapshot – Millrose Properties operates a Homesite Option Purchase Platform (HOPP’R), providing residential land banking solutions and income-generating real estate investment opportunities. – The company generates revenue by helping homebuilders achieve capital-efficient control of land positions as part of its income-generating platform. – Primary customers include institutional investors and homebuilders seeking scalable, capital-light access to residential land positions. Millrose Properties, Inc. delivers a differentiated platform for residential land banking, enabling homebuilders to expand controlled land positions with minimal upfront capital. The company’s model creates stable, recurring income streams backed by…