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

CIK: 0001315926 · Show all filings

Period: Q2 2014 (← Previous) (Next →)

Filing Date: Aug 14, 2014

Total Value ($000): $262,872 (100.0% shares, 0.0% debt)

Holdings (26)

HYG ISHARES 28.6%

Value ($000) $75,208 Shares 790,000 Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 14.9%

Value ($000) $39,144 Shares 200,000 Est. Cost — Unrealized —

IWM ISHARES 7.7%

Value ($000) $20,198 Shares 170,000 Est. Cost — Unrealized —

— AMERICAN RLTY CAP PPTYS INC 5.6%

Value ($000) $14,825 Shares 1,183,135 Est. Cost $14.02 Unrealized —

— ERICKSON INC 4.3%

Value ($000) $11,270 Shares 693,550 Est. Cost $15.66 Unrealized —

— ANADARKO PETE CORP 3.2%

Value ($000) $8,484 Shares 77,500 Est. Cost $84.76 Unrealized —

GPK GRAPHIC PACKAGING HLDG CO 3.2%

Value ($000) $8,344 Shares 713,122 Est. Cost $8.24 Unrealized +30.0%

I 5.75 05/01/16 A INTELSAT S A 3.0%

Value ($000) $7,998 Shares 157,100 Est. Cost $55.16 Unrealized —

— TRONOX LTD 2.9%

Value ($000) $7,504 Shares 278,960 Est. Cost $21.23 Unrealized —

NPO ENPRO INDS INC 2.8%

Value ($000) $7,480 Shares 102,240 Est. Cost $70.99 Unrealized +1.4%

CUBI CUSTOMERS BANCORP INC 2.7%

Value ($000) $7,100 Shares 354,799 Est. Cost $16.03 Unrealized +23.3%

— NORTEK INC 2.5%

Value ($000) $6,604 Shares 73,569 Est. Cost $64.43 Unrealized —

AIG AMERICAN INTL GROUP INC 2.5%

Value ($000) $6,473 Shares 118,600 Est. Cost $33.32 Unrealized +21.3%

— REALOGY HLDGS CORP 2.2%

Value ($000) $5,836 Shares 154,768 Est. Cost $45.88 Unrealized —

— PLY GEM HLDGS INC 2.2%

Value ($000) $5,721 Shares 566,407 Est. Cost $18.46 Unrealized —

— SILVER EAGLE ACQUISITION COR 1.8%

Value ($000) $4,707 Shares 450,000 Est. Cost $10.15 Unrealized —

— TESORO CORP 1.7%

Value ($000) $4,490 Shares 76,524 Est. Cost $52.32 Unrealized —

— ROYAL BK SCOTLAND GROUP PLC 1.4%

Value ($000) $3,721 Shares 151,573 Est. Cost $21.51 Unrealized —

— CLEAR CHANNEL OUTDOOR HLDGS 1.4%

Value ($000) $3,609 Shares 441,193 Est. Cost $7.67 Unrealized —

— CBS OUTDOOR AMERS INC 1.1%

Value ($000) $2,843 Shares 86,996 Est. Cost $32.68 Unrealized —

— LIBERTY GLOBAL PLC 1.0%

Value ($000) $2,750 Shares 65,000 Est. Cost $40.71 Unrealized —

CLW CLEARWATER PAPER CORP 1.0%

Value ($000) $2,593 Shares 42,006 Est. Cost $48.03 Unrealized +30.1%

LBTYAUSD LIBERTY GLOBAL PLC 0.9%

Value ($000) $2,255 Shares 51,000 Est. Cost $41.60 Unrealized —

— MERITOR INC 0.8%

Value ($000) $2,210 Shares 169,500 Est. Cost — Unrealized —

— INTELSAT S A 0.4%

Value ($000) $980 Shares 52,000 Est. Cost $22.54 Unrealized —

NMIH NMI HLDGS INC 0.2%

Value ($000) $525 Shares 50,000 Est. Cost $13.30 Unrealized -17.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES	790,000	$75,208	28.6%	—	—	Put	464288513
SPY	SPDR S&P 500 ETF TR	200,000	$39,144	14.9%	—	—	Put	78462F103
IWM	ISHARES	170,000	$20,198	7.7%	—	—	Put	464287655
—	AMERICAN RLTY CAP PPTYS INC	1,183,135	$14,825	5.6%	$14.02	—	COM	02917T104
—	ERICKSON INC	693,550	$11,270	4.3%	$15.66	—	COM	29482P100
—	ANADARKO PETE CORP	77,500	$8,484	3.2%	$84.76	—	COM	032511107
GPK	GRAPHIC PACKAGING HLDG CO	713,122	$8,344	3.2%	$8.24	+30.0%	COM	388689101
I 5.75 05/01/16 A	INTELSAT S A	157,100	$7,998	3.0%	$55.16	—	MAN CONV JR PFD	L5140P119
—	TRONOX LTD	278,960	$7,504	2.9%	$21.23	—	SHS CL A	Q9235V101
NPO	ENPRO INDS INC	102,240	$7,480	2.8%	$70.99	+1.4%	COM	29355X107
CUBI	CUSTOMERS BANCORP INC	354,799	$7,100	2.7%	$16.03	+23.3%	COM	23204G100
—	NORTEK INC	73,569	$6,604	2.5%	$64.43	—	COM NEW	656559309
AIG	AMERICAN INTL GROUP INC	118,600	$6,473	2.5%	$33.32	+21.3%	COM NEW	026874784
—	REALOGY HLDGS CORP	154,768	$5,836	2.2%	$45.88	—	COM	75605Y106
—	PLY GEM HLDGS INC	566,407	$5,721	2.2%	$18.46	—	COM	72941W100
—	SILVER EAGLE ACQUISITION COR	450,000	$4,707	1.8%	$10.15	—	UNIT 99/99/9999	827694209
—	TESORO CORP	76,524	$4,490	1.7%	$52.32	—	COM	881609101
—	ROYAL BK SCOTLAND GROUP PLC	151,573	$3,721	1.4%	$21.51	—	SP ADR PREF S	780097739
—	CLEAR CHANNEL OUTDOOR HLDGS	441,193	$3,609	1.4%	$7.67	—	CL A	18451C109
—	CBS OUTDOOR AMERS INC	86,996	$2,843	1.1%	$32.68	—	COM	14987J106
—	LIBERTY GLOBAL PLC	65,000	$2,750	1.0%	$40.71	—	SHS CL C	G5480U120
CLW	CLEARWATER PAPER CORP	42,006	$2,593	1.0%	$48.03	+30.1%	COM	18538R103
LBTYAUSD	LIBERTY GLOBAL PLC	51,000	$2,255	0.9%	$41.60	—	SHS CL A	G5480U104
—	MERITOR INC	169,500	$2,210	0.8%	—	—	Put	59001K100
—	INTELSAT S A	52,000	$980	0.4%	$22.54	—	COM	L5140P101
NMIH	NMI HLDGS INC	50,000	$525	0.2%	$13.30	-17.6%	CL A	629209305