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

Location: San Francisco, CA

CIK: 0001315926 · Show all filings

Period: Q3 2013 (← Previous) (Next →)

Filing Date: Nov 14, 2013

Total Value: $228M (100.0% shares, 0.0% debt)

Holdings (26)

SPY SPDR S&P 500 ETF TR 25.0%

Value $57.12M Shares 340,000 Share Price $168.01 Est. Cost/Share — Unrealized @ Report Date —

IWM ISHARES 21.8%

Value $49.65M Shares 465,700 Share Price $106.61 Est. Cost/Share — Unrealized @ Report Date —

— ERICKSON AIR-CRANE INC 5.2%

Value $11.83M Shares 755,414 Share Price $15.66 Est. Cost/Share $15.66 Unrealized @ Report Date —

I 5.75 05/01/16 A INTELSAT S A 4.0%

Value $9.161M Shares 150,000 Share Price $61.07 Est. Cost/Share $55.00 Unrealized @ Report Date —

— NORTEK INC 3.6%

Value $8.221M Shares 119,652 Share Price $68.71 Est. Cost/Share $64.43 Unrealized @ Report Date —

— PLY GEM HLDGS INC 3.3%

Value $7.569M Shares 541,407 Share Price $13.98 Est. Cost/Share $18.73 Unrealized @ Report Date —

— COLE REAL ESTATE INVTS INC 3.0%

Value $6.749M Shares 550,467 Share Price $12.26 Est. Cost/Share $12.26 Unrealized @ Report Date —

CLW CLEARWATER PAPER CORP 2.9%

Value $6.719M Shares 140,646 Share Price $47.77 Est. Cost/Share $48.03 Unrealized @ Report Date +1.0%

— THE ADT CORPORATION 2.9%

Value $6.685M Shares 164,400 Share Price $40.66 Est. Cost/Share $39.85 Unrealized @ Report Date —

AIG AMERICAN INTL GROUP INC 2.8%

Value $6.322M Shares 130,000 Share Price $48.63 * Est. Cost/Share $32.51 Unrealized @ Report Date +10.8%

— TESORO CORP 2.7%

Value $6.079M Shares 138,212 Share Price $43.98 Est. Cost/Share $52.32 Unrealized @ Report Date —

GPK GRAPHIC PACKAGING HLDG CO 2.5%

Value $5.811M Shares 678,822 Share Price $8.56 Est. Cost/Share $7.63 Unrealized @ Report Date +12.1%

— CONSOLIDATED COMM HLDGS INC 2.5%

Value $5.748M Shares 333,432 Share Price $17.24 Est. Cost/Share $17.41 Unrealized @ Report Date —

— TRONOX LTD 2.5%

Value $5.622M Shares 229,733 Share Price $24.47 Est. Cost/Share $20.15 Unrealized @ Report Date —

— REALOGY HLDGS CORP 2.4%

Value $5.471M Shares 127,168 Share Price $43.02 Est. Cost/Share $47.53 Unrealized @ Report Date —

— SILVER EAGLE ACQUISITION COR 2.0%

Value $4.568M Shares 450,000 Share Price $10.15 Est. Cost/Share $10.15 Unrealized @ Report Date —

CUBI CUSTOMERS BANCORP INC 1.9%

Value $4.377M Shares 271,846 Share Price $16.10 * Est. Cost/Share $15.17 Unrealized @ Report Date +0.2%

— CIT GROUP INC 1.7%

Value $3.788M Shares 77,667 Share Price $48.77 Est. Cost/Share $46.63 Unrealized @ Report Date —

— CLEAR CHANNEL OUTDOOR HLDGS 1.4%

Value $3.242M Shares 395,313 Share Price $8.20 Est. Cost/Share $7.51 Unrealized @ Report Date —

AMH AMERICAN HOMES 4 RENT 1.3%

Value $3.028M Shares 187,500 Share Price $16.15 Est. Cost/Share $16.15 Unrealized @ Report Date —

— LEVEL 3 COMMUNICATIONS INC 1.0%

Value $2.343M Shares 87,800 Share Price $26.69 Est. Cost/Share $21.08 Unrealized @ Report Date —

— GENERAL MTRS CO 0.9%

Value $2.081M Shares 110,830 Share Price $18.78 Est. Cost/Share $16.51 Unrealized @ Report Date —

— PENNEY J C INC 0.9%

Value $1.981M Shares 225,000 Share Price $8.80 Est. Cost/Share — Unrealized @ Report Date —

NWL NEWELL RUBBERMAID INC 0.7%

Value $1.705M Shares 62,000 Share Price $27.50 * Est. Cost/Share $16.79 Unrealized @ Report Date +0.8%

GM GENERAL MTRS CO 0.6%

Value $1.38M Shares 38,369 Share Price $35.97 * Est. Cost/Share $23.62 Unrealized @ Report Date +13.2%

— ROYAL BK SCOTLAND GROUP PLC 0.4%

Value $922K Shares 42,132 Share Price $21.88 Est. Cost/Share $22.30 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	340,000	$57.12M	25.0%	$168.01	—	—	Put	78462F103
IWM	ISHARES	465,700	$49.65M	21.8%	$106.61	—	—	Put	464287655
—	ERICKSON AIR-CRANE INC	755,414	$11.83M	5.2%	$15.66	$15.66	—	COM	29482P100
I 5.75 05/01/16 A	INTELSAT S A	150,000	$9.161M	4.0%	$61.07	$55.00	—	MAN CONV JR PFD	L5140P119
—	NORTEK INC	119,652	$8.221M	3.6%	$68.71	$64.43	—	COM NEW	656559309
—	PLY GEM HLDGS INC	541,407	$7.569M	3.3%	$13.98	$18.73	—	COM	72941W100
—	COLE REAL ESTATE INVTS INC	550,467	$6.749M	3.0%	$12.26	$12.26	—	COM	19329V105
CLW	CLEARWATER PAPER CORP	140,646	$6.719M	2.9%	$47.77	$48.03	+1.0%	COM	18538R103
—	THE ADT CORPORATION	164,400	$6.685M	2.9%	$40.66	$39.85	—	COM	00101J106
AIG	AMERICAN INTL GROUP INC	130,000	$6.322M	2.8%	$48.63 *	$32.51	+10.8%	COM NEW	026874784
—	TESORO CORP	138,212	$6.079M	2.7%	$43.98	$52.32	—	COM	881609101
GPK	GRAPHIC PACKAGING HLDG CO	678,822	$5.811M	2.5%	$8.56	$7.63	+12.1%	COM	388689101
—	CONSOLIDATED COMM HLDGS INC	333,432	$5.748M	2.5%	$17.24	$17.41	—	COM	209034107
—	TRONOX LTD	229,733	$5.622M	2.5%	$24.47	$20.15	—	SHS CL A	Q9235V101
—	REALOGY HLDGS CORP	127,168	$5.471M	2.4%	$43.02	$47.53	—	COM	75605Y106
—	SILVER EAGLE ACQUISITION COR	450,000	$4.568M	2.0%	$10.15	$10.15	—	UNIT 99/99/9999	827694209
CUBI	CUSTOMERS BANCORP INC	271,846	$4.377M	1.9%	$16.10 *	$15.17	+0.2%	COM	23204G100
—	CIT GROUP INC	77,667	$3.788M	1.7%	$48.77	$46.63	—	COM NEW	125581801
—	CLEAR CHANNEL OUTDOOR HLDGS	395,313	$3.242M	1.4%	$8.20	$7.51	—	CL A	18451C109
AMH	AMERICAN HOMES 4 RENT	187,500	$3.028M	1.3%	$16.15	$16.15	—	CL A	02665T306
—	LEVEL 3 COMMUNICATIONS INC	87,800	$2.343M	1.0%	$26.69	$21.08	—	COM NEW	52729N308
—	GENERAL MTRS CO	110,830	$2.081M	0.9%	$18.78	$16.51	—	*W EXP 07/10/201	37045V126
—	PENNEY J C INC	225,000	$1.981M	0.9%	$8.80	—	—	Put	708160106
NWL	NEWELL RUBBERMAID INC	62,000	$1.705M	0.7%	$27.50 *	$16.79	+0.8%	COM	651229106
GM	GENERAL MTRS CO	38,369	$1.38M	0.6%	$35.97 *	$23.62	+13.2%	COM	37045V100
—	ROYAL BK SCOTLAND GROUP PLC	42,132	$922K	0.4%	$21.88	$22.30	—	ADR PREF SHS Q	780097754