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

CIK: 0001315926 · Show all filings

Period: Q4 2014 (← Previous) (Next →)

Filing Date: Feb 13, 2015

Total Value ($000): $243,511 (96.1% shares, 3.9% debt)

Holdings (22)

HYG ISHARES 31.3%

Value ($000) $76,160 Shares 850,000 Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 18.1%

Value ($000) $44,047 Shares 214,300 Est. Cost — Unrealized —

IWM ISHARES TR 12.2%

Value ($000) $29,702 Shares 248,300 Est. Cost — Unrealized —

— COBALT INTL ENERGY INC 3.9%

Value ($000) $9,515 Shares 14,000,000 Est. Cost $0.68 Unrealized —

CUBI CUSTOMERS BANCORP INC 3.5%

Value ($000) $8,591 Shares 441,483 Est. Cost $16.51 Unrealized +12.2%

— AMERICAN RLTY CAP PPTYS INC 3.5%

Value ($000) $8,482 Shares 937,214 Est. Cost $13.67 Unrealized —

— GRACE W R & CO DEL NEW 3.3%

Value ($000) $8,120 Shares 85,126 Est. Cost $91.31 Unrealized —

— OUTFRONT MEDIA INC 3.2%

Value ($000) $7,899 Shares 294,307 Est. Cost $26.84 Unrealized —

— NORTEK INC 2.8%

Value ($000) $6,713 Shares 82,544 Est. Cost $66.27 Unrealized —

— PLY GEM HLDGS INC 2.6%

Value ($000) $6,386 Shares 456,761 Est. Cost $18.30 Unrealized —

XLE SELECT SECTOR SPDR TR 2.4%

Value ($000) $5,937 Shares 75,000 Est. Cost — Unrealized —

— CBS CORP NEW 2.1%

Value ($000) $5,065 Shares 91,533 Est. Cost $55.34 Unrealized —

— AMERICAN CAP LTD 2.1%

Value ($000) $5,058 Shares 346,230 Est. Cost $14.61 Unrealized —

— TESORO CORP 2.0%

Value ($000) $4,881 Shares 65,649 Est. Cost $52.32 Unrealized —

— ERICKSON INC 1.9%

Value ($000) $4,736 Shares 567,825 Est. Cost $15.66 Unrealized —

— AMERICAN RLTY CAP PPTYS INC 1.9%

Value ($000) $4,525 Shares 500,000 Est. Cost $13.67 Unrealized —

— COBALT INTL ENERGY INC 1.6%

Value ($000) $4,001 Shares 450,000 Est. Cost — Unrealized —

— KEY ENERGY SVCS INC 0.7%

Value ($000) $1,825 Shares 1,092,846 Est. Cost $4.28 Unrealized —

GM GENERAL MTRS CO 0.3%

Value ($000) $687 Shares 19,666 Est. Cost $24.50 Unrealized 0.0%

— GENERAL MTRS CO 0.2%

Value ($000) $448 Shares 17,878 Est. Cost $25.06 Unrealized —

— CLEAR CHANNEL OUTDOOR HLDGS 0.2%

Value ($000) $429 Shares 40,539 Est. Cost $7.67 Unrealized —

— GENERAL MTRS CO 0.1%

Value ($000) $304 Shares 17,878 Est. Cost $17.00 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES	850,000	$76,160	31.3%	—	—	Put	464288513
SPY	SPDR S&P 500 ETF TR	214,300	$44,047	18.1%	—	—	Put	78462F103
IWM	ISHARES TR	248,300	$29,702	12.2%	—	—	Put	464287655
—	COBALT INTL ENERGY INC	14,000,000	$9,515	3.9%	$0.68	—	NOTE 3.125% 5/1	19075FAB2
CUBI	CUSTOMERS BANCORP INC	441,483	$8,591	3.5%	$16.51	+12.2%	COM	23204G100
—	AMERICAN RLTY CAP PPTYS INC	937,214	$8,482	3.5%	$13.67	—	COM	02917T104
—	GRACE W R & CO DEL NEW	85,126	$8,120	3.3%	$91.31	—	COM	38388F108
—	OUTFRONT MEDIA INC	294,307	$7,899	3.2%	$26.84	—	COM	69007J106
—	NORTEK INC	82,544	$6,713	2.8%	$66.27	—	COM NEW	656559309
—	PLY GEM HLDGS INC	456,761	$6,386	2.6%	$18.30	—	COM	72941W100
XLE	SELECT SECTOR SPDR TR	75,000	$5,937	2.4%	—	—	Put	81369Y506
—	CBS CORP NEW	91,533	$5,065	2.1%	$55.34	—	CL B	124857202
—	AMERICAN CAP LTD	346,230	$5,058	2.1%	$14.61	—	COM	02503Y103
—	TESORO CORP	65,649	$4,881	2.0%	$52.32	—	COM	881609101
—	ERICKSON INC	567,825	$4,736	1.9%	$15.66	—	COM	29482P100
—	AMERICAN RLTY CAP PPTYS INC	500,000	$4,525	1.9%	$13.67	—	Put	02917T104
—	COBALT INTL ENERGY INC	450,000	$4,001	1.6%	—	—	Put	19075F106
—	KEY ENERGY SVCS INC	1,092,846	$1,825	0.7%	$4.28	—	COM	492914106
GM	GENERAL MTRS CO	19,666	$687	0.3%	$24.50	0.0%	COM	37045V100
—	GENERAL MTRS CO	17,878	$448	0.2%	$25.06	—	*W EXP 07/10/201	37045V118
—	CLEAR CHANNEL OUTDOOR HLDGS	40,539	$429	0.2%	$7.67	—	CL A	18451C109
—	GENERAL MTRS CO	17,878	$304	0.1%	$17.00	—	*W EXP 07/10/201	37045V126