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

Name: Watershed Asset Management, L.L.C. Q2 2013 13F Filing | 13F Explorer
Creator: Watershed Asset Management, L.L.C.
Published: 2013-08-14

Location: San Francisco, CA

CIK: 0001315926 · Show all filings

Period: Q2 2013 (Next →)

Filing Date: Aug 14, 2013

Total Value: $231M (96.1% shares, 3.9% debt)

Holdings (23)

IWM ISHARES TR 27.9%

Value $64.38M Shares 663,700 Share Price $97.00 Est. Cost/Share — Unrealized @ Report Date —

SPY SPDR S&P 500 ETF TR 23.6%

Value $54.41M Shares 339,200 Share Price $160.42 Est. Cost/Share — Unrealized @ Report Date —

— MGM RESORTS INTERNATIONAL 3.9%

Value $9.008M Shares 8,000,000 Share Price $1.13 Est. Cost/Share $1.13 Unrealized @ Report Date —

— PLY GEM HLDGS INC 3.7%

Value $8.49M Shares 423,242 Share Price $20.06 Est. Cost/Share $20.06 Unrealized @ Report Date —

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

Value $8.25M Shares 150,000 Share Price $55.00 Est. Cost/Share $55.00 Unrealized @ Report Date —

— NORTEK INC 3.3%

Value $7.709M Shares 119,652 Share Price $64.43 Est. Cost/Share $64.43 Unrealized @ Report Date —

— TESORO CORP 3.3%

Value $7.676M Shares 146,712 Share Price $52.32 Est. Cost/Share $52.32 Unrealized @ Report Date —

GPK GRAPHIC PACKAGING HLDG CO 3.2%

Value $7.368M Shares 951,902 Share Price $7.74 Est. Cost/Share $7.63 Unrealized @ Report Date 0.0%

CLW CLEARWATER PAPER CORP 3.0%

Value $6.915M Shares 146,943 Share Price $47.06 * Est. Cost/Share $48.03 Unrealized @ Report Date 0.0%

— THE ADT CORPORATION 2.9%

Value $6.675M Shares 167,500 Share Price $39.85 Est. Cost/Share $39.85 Unrealized @ Report Date —

— TRONOX LTD 2.8%

Value $6.543M Shares 324,733 Share Price $20.15 Est. Cost/Share $20.15 Unrealized @ Report Date —

AIG AMERICAN INTL GROUP INC 2.8%

Value $6.392M Shares 143,000 Share Price $44.70 * Est. Cost/Share $32.51 Unrealized @ Report Date 0.0%

— ROYAL BK SCOTLAND GROUP PLC 2.8%

Value $6.377M Shares 285,980 Share Price $22.30 Est. Cost/Share $22.30 Unrealized @ Report Date —

— CONSOLIDATED COMM HLDGS INC 2.4%

Value $5.621M Shares 322,849 Share Price $17.41 Est. Cost/Share $17.41 Unrealized @ Report Date —

— REALOGY HLDGS CORP 2.4%

Value $5.485M Shares 114,168 Share Price $48.04 Est. Cost/Share $48.04 Unrealized @ Report Date —

— LEVEL 3 COMMUNICATIONS INC 1.7%

Value $3.875M Shares 183,800 Share Price $21.08 Est. Cost/Share $21.08 Unrealized @ Report Date —

— CIT GROUP INC 1.6%

Value $3.622M Shares 77,667 Share Price $46.63 Est. Cost/Share $46.63 Unrealized @ Report Date —

— CLEAR CHANNEL OUTDOOR HLDGS 1.2%

Value $2.77M Shares 371,313 Share Price $7.46 Est. Cost/Share $7.46 Unrealized @ Report Date —

CUBI CUSTOMERS BANCORP INC 1.1%

Value $2.438M Shares 150,000 Share Price $16.25 * Est. Cost/Share $15.14 Unrealized @ Report Date 0.0%

NWL NEWELL RUBBERMAID INC 0.9%

Value $2.048M Shares 78,000 Share Price $26.26 * Est. Cost/Share $16.79 Unrealized @ Report Date 0.0%

GM GENERAL MTRS CO 0.9%

Value $2.044M Shares 61,369 Share Price $33.31 * Est. Cost/Share $23.62 Unrealized @ Report Date 0.0%

— GENERAL MTRS CO 0.8%

Value $1.83M Shares 110,830 Share Price $16.51 Est. Cost/Share $16.51 Unrealized @ Report Date —

— INTELSAT S A 0.3%

Value $600K Shares 30,000 Share Price $20.00 Est. Cost/Share $20.00 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
IWM	ISHARES TR	663,700	$64.38M	27.9%	$97.00	—	—	Put	464287655
SPY	SPDR S&P 500 ETF TR	339,200	$54.41M	23.6%	$160.42	—	—	Put	78462F103
—	MGM RESORTS INTERNATIONAL	8,000,000	$9.008M	3.9%	$1.13	$1.13	—	NOTE 4.250% 4/1	55303QAE0
—	PLY GEM HLDGS INC	423,242	$8.49M	3.7%	$20.06	$20.06	—	COM	72941W100
I 5.75 05/01/16 A	INTELSAT S A	150,000	$8.25M	3.6%	$55.00	$55.00	—	MAN CONV JR PFD	L5140P119
—	NORTEK INC	119,652	$7.709M	3.3%	$64.43	$64.43	—	COM NEW	656559309
—	TESORO CORP	146,712	$7.676M	3.3%	$52.32	$52.32	—	COM	881609101
GPK	GRAPHIC PACKAGING HLDG CO	951,902	$7.368M	3.2%	$7.74	$7.63	0.0%	COM	388689101
CLW	CLEARWATER PAPER CORP	146,943	$6.915M	3.0%	$47.06 *	$48.03	0.0%	COM	18538R103
—	THE ADT CORPORATION	167,500	$6.675M	2.9%	$39.85	$39.85	—	COM	00101J106
—	TRONOX LTD	324,733	$6.543M	2.8%	$20.15	$20.15	—	SHS CL A	Q9235V101
AIG	AMERICAN INTL GROUP INC	143,000	$6.392M	2.8%	$44.70 *	$32.51	0.0%	COM NEW	026874784
—	ROYAL BK SCOTLAND GROUP PLC	285,980	$6.377M	2.8%	$22.30	$22.30	—	ADR PREF SHS Q	780097754
—	CONSOLIDATED COMM HLDGS INC	322,849	$5.621M	2.4%	$17.41	$17.41	—	COM	209034107
—	REALOGY HLDGS CORP	114,168	$5.485M	2.4%	$48.04	$48.04	—	COM	75605Y106
—	LEVEL 3 COMMUNICATIONS INC	183,800	$3.875M	1.7%	$21.08	$21.08	—	COM NEW	52729N308
—	CIT GROUP INC	77,667	$3.622M	1.6%	$46.63	$46.63	—	COM NEW	125581801
—	CLEAR CHANNEL OUTDOOR HLDGS	371,313	$2.77M	1.2%	$7.46	$7.46	—	CL A	18451C109
CUBI	CUSTOMERS BANCORP INC	150,000	$2.438M	1.1%	$16.25 *	$15.14	0.0%	COM	23204G100
NWL	NEWELL RUBBERMAID INC	78,000	$2.048M	0.9%	$26.26 *	$16.79	0.0%	COM	651229106
GM	GENERAL MTRS CO	61,369	$2.044M	0.9%	$33.31 *	$23.62	0.0%	COM	37045V100
—	GENERAL MTRS CO	110,830	$1.83M	0.8%	$16.51	$16.51	—	*W EXP 07/10/201	37045V126
—	INTELSAT S A	30,000	$600K	0.3%	$20.00	$20.00	—	COM	L5140P101