Waterfall Asset Management has increased its stake in Millrose Properties (NYSE:MRP) by adding 219,984 shares in the first quarter of 2026, as per a May 8, 2026, SEC filing. The estimated value of this trade is around $6.62 million based on the average pricing during the quarter.
The increase in shares purchased by Waterfall Asset Management indicates a strong belief in the potential of Millrose Properties. This move aligns with the company’s strategy to capitalize on opportunities in the real estate market. The transaction also reflects confidence in the long-term growth prospects of Millrose Properties.
The latest SEC filing reveals that Waterfall Asset Management now holds a 5.09% stake in Millrose Properties, based on its 13F reportable AUM as of March 31, 2026. This significant ownership position underscores the firm’s commitment to the stock and belief in its future performance.
Top five fund holdings post-filing include NYSE:CPT at $12.86 million (11.2% of AUM), NYSE:AVB at $12.28 million (10.7% of AUM), NYSE:APLE at $10.77 million (9.4% of AUM), NYSE:RITM at $9.73 million (8.5% of AUM), and NYSE:BRSP at $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 but significantly underperforming the S&P 500’s roughly 30% gain in the same period.
Millrose Properties operates a Homesite Option Purchase Platform (HOPP’R), providing residential land banking solutions and income-generating real estate investment opportunities. The company helps homebuilders achieve capital-efficient control of land positions as part of its income-generating platform. Its primary customers include institutional investors and homebuilders seeking scalable, capital-light access to residential land positions.
Millrose Properties delivers a differentiated platform for residential land banking, allowing homebuilders to expand controlled land positions with minimal upfront capital. The company’s model creates stable, recurring income streams backed by residential real estate, historically accessible only to institutional investors. With a focus on capital efficiency and innovative land acquisition, Millrose positions itself as a strategic partner for both builders and investors seeking exposure to residential real estate markets.
The recent transaction by Waterfall Asset Management suggests a positive outlook for Millrose Properties. The firm’s increased stake signals confidence in the company’s growth potential and its ability to generate returns for investors. This move reflects a strategic investment decision based on thorough analysis and a belief in the long-term prospects of Millrose Properties.
