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

Name: Watershed Asset Management, L.L.C. Q1 2015 13F Filing | 13F Explorer
Creator: Watershed Asset Management, L.L.C.
Published: 2015-05-15

Location: San Francisco, CA

CIK: 0001315926 · Show all filings

Period: Q1 2015 (← Previous) (Next →)

Filing Date: May 15, 2015

Total Value: $247M (86.5% shares, 13.5% debt)

Holdings (21)

HYG ISHARES 18.7%

Value $46.21M Shares 510,000 Share Price $90.61 Est. Cost/Share — Unrealized @ Report Date —

SPY SPDR S&P 500 ETF TR 17.8%

Value $44.11M Shares 213,700 Share Price $206.43 Est. Cost/Share — Unrealized @ Report Date —

IWM ISHARES TR 16.6%

Value $41.14M Shares 330,800 Share Price $124.37 Est. Cost/Share — Unrealized @ Report Date —

— UTI WORLDWIDE INC 5.4%

Value $13.26M Shares 11,780,000 Share Price $1.13 Est. Cost/Share $1.13 Unrealized @ Report Date —

— COBALT INTL ENERGY INC 4.3%

Value $10.55M Shares 14,000,000 Share Price $0.75 Est. Cost/Share $0.68 Unrealized @ Report Date —

— HORSEHEAD HLDG CORP 3.9%

Value $9.674M Shares 9,000,000 Share Price $1.07 Est. Cost/Share $1.07 Unrealized @ Report Date —

— AMERICAN RLTY CAP PPTYS INC 3.9%

Value $9.524M Shares 966,929 Share Price $9.85 Est. Cost/Share $13.55 Unrealized @ Report Date —

CUBI CUSTOMERS BANCORP INC 3.5%

Value $8.584M Shares 352,401 Share Price $24.36 * Est. Cost/Share $16.51 Unrealized @ Report Date +30.6%

— GRACE W R & CO DEL NEW 3.2%

Value $7.975M Shares 80,657 Share Price $98.88 Est. Cost/Share $91.31 Unrealized @ Report Date —

ALLY ALLY FINL INC 3.1%

Value $7.651M Shares 364,699 Share Price $20.98 * Est. Cost/Share $16.09 Unrealized @ Report Date 0.0%

— AMERICAN CAP LTD 3.0%

Value $7.472M Shares 505,185 Share Price $14.79 Est. Cost/Share $14.67 Unrealized @ Report Date —

— NORTEK INC 2.9%

Value $7.285M Shares 82,544 Share Price $88.26 Est. Cost/Share $66.27 Unrealized @ Report Date —

— HORSEHEAD HLDG CORP 2.3%

Value $5.8M Shares 458,100 Share Price $12.66 Est. Cost/Share $12.66 Unrealized @ Report Date —

— PLY GEM HLDGS INC 2.0%

Value $5.053M Shares 388,667 Share Price $13.00 Est. Cost/Share $18.30 Unrealized @ Report Date —

XLE SELECT SECTOR SPDR TR 1.9%

Value $4.655M Shares 60,000 Share Price $77.58 Est. Cost/Share — Unrealized @ Report Date —

— HORSEHEAD HLDG CORP 1.9%

Value $4.629M Shares 365,645 Share Price $12.66 Est. Cost/Share $12.66 Unrealized @ Report Date —

— COBALT INTL ENERGY INC 1.7%

Value $4.235M Shares 450,000 Share Price $9.41 Est. Cost/Share — Unrealized @ Report Date —

— CUMULUS MEDIA INC 1.2%

Value $3.05M Shares 1,234,906 Share Price $2.47 Est. Cost/Share $2.47 Unrealized @ Report Date —

— OUTFRONT MEDIA INC 1.1%

Value $2.683M Shares 89,663 Share Price $29.92 Est. Cost/Share $26.84 Unrealized @ Report Date —

— ERICKSON INC 1.0%

Value $2.453M Shares 567,825 Share Price $4.32 Est. Cost/Share $15.66 Unrealized @ Report Date —

— KEY ENERGY SVCS INC 0.5%

Value $1.17M Shares 642,846 Share Price $1.82 Est. Cost/Share $4.28 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
HYG	ISHARES	510,000	$46.21M	18.7%	$90.61	—	—	Put	464288513
SPY	SPDR S&P 500 ETF TR	213,700	$44.11M	17.8%	$206.43	—	—	Put	78462F103
IWM	ISHARES TR	330,800	$41.14M	16.6%	$124.37	—	—	Put	464287655
—	UTI WORLDWIDE INC	11,780,000	$13.26M	5.4%	$1.13	$1.13	—	NOTE 4.500% 3/0	90349LAB0
—	COBALT INTL ENERGY INC	14,000,000	$10.55M	4.3%	$0.75	$0.68	—	NOTE 3.125% 5/1	19075FAB2
—	HORSEHEAD HLDG CORP	9,000,000	$9.674M	3.9%	$1.07	$1.07	—	NOTE 3.800% 7/0	440694AB3
—	AMERICAN RLTY CAP PPTYS INC	966,929	$9.524M	3.9%	$9.85	$13.55	—	COM	02917T104
CUBI	CUSTOMERS BANCORP INC	352,401	$8.584M	3.5%	$24.36 *	$16.51	+30.6%	COM	23204G100
—	GRACE W R & CO DEL NEW	80,657	$7.975M	3.2%	$98.88	$91.31	—	COM	38388F108
ALLY	ALLY FINL INC	364,699	$7.651M	3.1%	$20.98 *	$16.09	0.0%	COM	02005N100
—	AMERICAN CAP LTD	505,185	$7.472M	3.0%	$14.79	$14.67	—	COM	02503Y103
—	NORTEK INC	82,544	$7.285M	2.9%	$88.26	$66.27	—	COM NEW	656559309
—	HORSEHEAD HLDG CORP	458,100	$5.8M	2.3%	$12.66	$12.66	—	Put	440694305
—	PLY GEM HLDGS INC	388,667	$5.053M	2.0%	$13.00	$18.30	—	COM	72941W100
XLE	SELECT SECTOR SPDR TR	60,000	$4.655M	1.9%	$77.58	—	—	Put	81369Y506
—	HORSEHEAD HLDG CORP	365,645	$4.629M	1.9%	$12.66	$12.66	—	COM	440694305
—	COBALT INTL ENERGY INC	450,000	$4.235M	1.7%	$9.41	—	—	Put	19075F106
—	CUMULUS MEDIA INC	1,234,906	$3.05M	1.2%	$2.47	$2.47	—	CL A	231082108
—	OUTFRONT MEDIA INC	89,663	$2.683M	1.1%	$29.92	$26.84	—	COM	69007J106
—	ERICKSON INC	567,825	$2.453M	1.0%	$4.32	$15.66	—	COM	29482P100
—	KEY ENERGY SVCS INC	642,846	$1.17M	0.5%	$1.82	$4.28	—	COM	492914106