Watershed Asset Management, L.L.C. Hedge Fund

CIK: 0001315926 · Show all filings

Period: Q2 2013 (Next →)

Filing Date: Aug 14, 2013

Total Value ($000): $230,529 (96.1% shares, 3.9% debt)

Holdings (23)

IWM ISHARES TR 27.9%

Value ($000) $64,379 Shares 663,700 Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 23.6%

Value ($000) $54,414 Shares 339,200 Est. Cost — Unrealized —

— MGM RESORTS INTERNATIONAL 3.9%

Value ($000) $9,008 Shares 8,000,000 Est. Cost $1.13 Unrealized —

— PLY GEM HLDGS INC 3.7%

Value ($000) $8,490 Shares 423,242 Est. Cost $20.06 Unrealized —

I 5.75 05/01/16 A INTELSAT S A 3.6%

Value ($000) $8,250 Shares 150,000 Est. Cost $55.00 Unrealized —

— NORTEK INC 3.3%

Value ($000) $7,709 Shares 119,652 Est. Cost $64.43 Unrealized —

— TESORO CORP 3.3%

Value ($000) $7,676 Shares 146,712 Est. Cost $52.32 Unrealized —

GPK GRAPHIC PACKAGING HLDG CO 3.2%

Value ($000) $7,368 Shares 951,902 Est. Cost $7.63 Unrealized 0.0%

CLW CLEARWATER PAPER CORP 3.0%

Value ($000) $6,915 Shares 146,943 Est. Cost $48.03 Unrealized 0.0%

— THE ADT CORPORATION 2.9%

Value ($000) $6,675 Shares 167,500 Est. Cost $39.85 Unrealized —

— TRONOX LTD 2.8%

Value ($000) $6,543 Shares 324,733 Est. Cost $20.15 Unrealized —

AIG AMERICAN INTL GROUP INC 2.8%

Value ($000) $6,392 Shares 143,000 Est. Cost $32.51 Unrealized 0.0%

— ROYAL BK SCOTLAND GROUP PLC 2.8%

Value ($000) $6,377 Shares 285,980 Est. Cost $22.30 Unrealized —

— CONSOLIDATED COMM HLDGS INC 2.4%

Value ($000) $5,621 Shares 322,849 Est. Cost $17.41 Unrealized —

— REALOGY HLDGS CORP 2.4%

Value ($000) $5,485 Shares 114,168 Est. Cost $48.04 Unrealized —

— LEVEL 3 COMMUNICATIONS INC 1.7%

Value ($000) $3,875 Shares 183,800 Est. Cost $21.08 Unrealized —

— CIT GROUP INC 1.6%

Value ($000) $3,622 Shares 77,667 Est. Cost $46.63 Unrealized —

— CLEAR CHANNEL OUTDOOR HLDGS 1.2%

Value ($000) $2,770 Shares 371,313 Est. Cost $7.46 Unrealized —

CUBI CUSTOMERS BANCORP INC 1.1%

Value ($000) $2,438 Shares 150,000 Est. Cost $15.14 Unrealized 0.0%

NWL NEWELL RUBBERMAID INC 0.9%

Value ($000) $2,048 Shares 78,000 Est. Cost $16.79 Unrealized 0.0%

GM GENERAL MTRS CO 0.9%

Value ($000) $2,044 Shares 61,369 Est. Cost $23.62 Unrealized 0.0%

— GENERAL MTRS CO 0.8%

Value ($000) $1,830 Shares 110,830 Est. Cost $16.51 Unrealized —

— INTELSAT S A 0.3%

Value ($000) $600 Shares 30,000 Est. Cost $20.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	663,700	$64,379	27.9%	—	—	Put	464287655
SPY	SPDR S&P 500 ETF TR	339,200	$54,414	23.6%	—	—	Put	78462F103
—	MGM RESORTS INTERNATIONAL	8,000,000	$9,008	3.9%	$1.13	—	NOTE 4.250% 4/1	55303QAE0
—	PLY GEM HLDGS INC	423,242	$8,490	3.7%	$20.06	—	COM	72941W100
I 5.75 05/01/16 A	INTELSAT S A	150,000	$8,250	3.6%	$55.00	—	MAN CONV JR PFD	L5140P119
—	NORTEK INC	119,652	$7,709	3.3%	$64.43	—	COM NEW	656559309
—	TESORO CORP	146,712	$7,676	3.3%	$52.32	—	COM	881609101
GPK	GRAPHIC PACKAGING HLDG CO	951,902	$7,368	3.2%	$7.63	0.0%	COM	388689101
CLW	CLEARWATER PAPER CORP	146,943	$6,915	3.0%	$48.03	0.0%	COM	18538R103
—	THE ADT CORPORATION	167,500	$6,675	2.9%	$39.85	—	COM	00101J106
—	TRONOX LTD	324,733	$6,543	2.8%	$20.15	—	SHS CL A	Q9235V101
AIG	AMERICAN INTL GROUP INC	143,000	$6,392	2.8%	$32.51	0.0%	COM NEW	026874784
—	ROYAL BK SCOTLAND GROUP PLC	285,980	$6,377	2.8%	$22.30	—	ADR PREF SHS Q	780097754
—	CONSOLIDATED COMM HLDGS INC	322,849	$5,621	2.4%	$17.41	—	COM	209034107
—	REALOGY HLDGS CORP	114,168	$5,485	2.4%	$48.04	—	COM	75605Y106
—	LEVEL 3 COMMUNICATIONS INC	183,800	$3,875	1.7%	$21.08	—	COM NEW	52729N308
—	CIT GROUP INC	77,667	$3,622	1.6%	$46.63	—	COM NEW	125581801
—	CLEAR CHANNEL OUTDOOR HLDGS	371,313	$2,770	1.2%	$7.46	—	CL A	18451C109
CUBI	CUSTOMERS BANCORP INC	150,000	$2,438	1.1%	$15.14	0.0%	COM	23204G100
NWL	NEWELL RUBBERMAID INC	78,000	$2,048	0.9%	$16.79	0.0%	COM	651229106
GM	GENERAL MTRS CO	61,369	$2,044	0.9%	$23.62	0.0%	COM	37045V100
—	GENERAL MTRS CO	110,830	$1,830	0.8%	$16.51	—	*W EXP 07/10/201	37045V126
—	INTELSAT S A	30,000	$600	0.3%	$20.00	—	COM	L5140P101