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

Name: Watershed Asset Management, L.L.C. Q2 2015 13F Filing | 13F Explorer
Creator: Watershed Asset Management, L.L.C.
Published: 2015-08-13

Location: San Francisco, CA

CIK: 0001315926 · Show all filings

Period: Q2 2015 (← Previous) (Next →)

Filing Date: Aug 13, 2015

Total Value: $324M (86.0% shares, 14.0% debt)

Holdings (23)

SPY SPDR S&P 500 ETF TR 23.1%

Value $74.78M Shares 363,300 Share Price $205.85 Est. Cost/Share — Unrealized @ Report Date —

HYG ISHARES 19.4%

Value $62.78M Shares 707,000 Share Price $88.80 Est. Cost/Share — Unrealized @ Report Date —

IWM ISHARES TR 17.3%

Value $55.99M Shares 448,400 Share Price $124.86 Est. Cost/Share — Unrealized @ Report Date —

— UTI WORLDWIDE INC 6.4%

Value $20.62M Shares 19,805,000 Share Price $1.04 Est. Cost/Share $1.09 Unrealized @ Report Date —

— HORSEHEAD HLDG CORP 4.0%

Value $12.82M Shares 12,300,000 Share Price $1.04 Est. Cost/Share $1.07 Unrealized @ Report Date —

— AMERICAN CAP LTD 2.7%

Value $8.891M Shares 656,185 Share Price $13.55 Est. Cost/Share $14.41 Unrealized @ Report Date —

ALLY ALLY FINL INC 2.6%

Value $8.36M Shares 372,699 Share Price $22.43 * Est. Cost/Share $16.11 Unrealized @ Report Date +4.6%

— AMERICAN RLTY CAP PPTYS INC 2.4%

Value $7.861M Shares 966,929 Share Price $8.13 Est. Cost/Share $13.55 Unrealized @ Report Date —

CUBI CUSTOMERS BANCORP INC 2.2%

Value $6.981M Shares 259,601 Share Price $26.89 * Est. Cost/Share $16.51 Unrealized @ Report Date +54.8%

— NORTEK INC 2.1%

Value $6.862M Shares 82,544 Share Price $83.13 Est. Cost/Share $66.27 Unrealized @ Report Date —

LPLA LPL FINL HLDGS INC 2.1%

Value $6.662M Shares 143,304 Share Price $46.49 * Est. Cost/Share $43.25 Unrealized @ Report Date 0.0%

— COBALT INTL ENERGY INC 2.0%

Value $6.6M Shares 9,000,000 Share Price $0.73 Est. Cost/Share $0.68 Unrealized @ Report Date —

— GRACE W R & CO DEL NEW 2.0%

Value $6.585M Shares 65,657 Share Price $100.29 Est. Cost/Share $91.31 Unrealized @ Report Date —

— EXTERRAN HLDGS INC 1.8%

Value $5.87M Shares 179,800 Share Price $32.65 Est. Cost/Share $32.65 Unrealized @ Report Date —

— HORSEHEAD HLDG CORP 1.7%

Value $5.369M Shares 458,100 Share Price $11.72 Est. Cost/Share $12.66 Unrealized @ Report Date —

— INTERNATIONAL SPEEDWAY CORP 1.7%

Value $5.365M Shares 146,301 Share Price $36.67 Est. Cost/Share $36.67 Unrealized @ Report Date —

— ASCENT CAP GROUP INC 1.6%

Value $5.32M Shares 6,210,000 Share Price $0.86 Est. Cost/Share $0.86 Unrealized @ Report Date —

— HORSEHEAD HLDG CORP 1.3%

Value $4.285M Shares 365,645 Share Price $11.72 Est. Cost/Share $12.66 Unrealized @ Report Date —

— PLY GEM HLDGS INC 1.1%

Value $3.551M Shares 301,197 Share Price $11.79 Est. Cost/Share $18.30 Unrealized @ Report Date —

— COBALT INTL ENERGY INC 0.9%

Value $2.816M Shares 290,000 Share Price $9.71 Est. Cost/Share — Unrealized @ Report Date —

— CUMULUS MEDIA INC 0.8%

Value $2.507M Shares 1,234,906 Share Price $2.03 Est. Cost/Share $2.47 Unrealized @ Report Date —

— OUTFRONT MEDIA INC 0.7%

Value $2.263M Shares 89,663 Share Price $25.24 Est. Cost/Share $26.84 Unrealized @ Report Date —

— ERICKSON INC 0.3%

Value $998K Shares 229,925 Share Price $4.34 Est. Cost/Share $15.66 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	363,300	$74.78M	23.1%	$205.85	—	—	Put	78462F103
HYG	ISHARES	707,000	$62.78M	19.4%	$88.80	—	—	Put	464288513
IWM	ISHARES TR	448,400	$55.99M	17.3%	$124.86	—	—	Put	464287655
—	UTI WORLDWIDE INC	19,805,000	$20.62M	6.4%	$1.04	$1.09	—	NOTE 4.500% 3/0	90349LAB0
—	HORSEHEAD HLDG CORP	12,300,000	$12.82M	4.0%	$1.04	$1.07	—	NOTE 3.800% 7/0	440694AB3
—	AMERICAN CAP LTD	656,185	$8.891M	2.7%	$13.55	$14.41	—	COM	02503Y103
ALLY	ALLY FINL INC	372,699	$8.36M	2.6%	$22.43 *	$16.11	+4.6%	COM	02005N100
—	AMERICAN RLTY CAP PPTYS INC	966,929	$7.861M	2.4%	$8.13	$13.55	—	COM	02917T104
CUBI	CUSTOMERS BANCORP INC	259,601	$6.981M	2.2%	$26.89 *	$16.51	+54.8%	COM	23204G100
—	NORTEK INC	82,544	$6.862M	2.1%	$83.13	$66.27	—	COM NEW	656559309
LPLA	LPL FINL HLDGS INC	143,304	$6.662M	2.1%	$46.49 *	$43.25	0.0%	COM	50212V100
—	COBALT INTL ENERGY INC	9,000,000	$6.6M	2.0%	$0.73	$0.68	—	NOTE 3.125% 5/1	19075FAB2
—	GRACE W R & CO DEL NEW	65,657	$6.585M	2.0%	$100.29	$91.31	—	COM	38388F108
—	EXTERRAN HLDGS INC	179,800	$5.87M	1.8%	$32.65	$32.65	—	COM	30225X103
—	HORSEHEAD HLDG CORP	458,100	$5.369M	1.7%	$11.72	$12.66	—	Put	440694305
—	INTERNATIONAL SPEEDWAY CORP	146,301	$5.365M	1.7%	$36.67	$36.67	—	CL A	460335201
—	ASCENT CAP GROUP INC	6,210,000	$5.32M	1.6%	$0.86	$0.86	—	NOTE 4.000% 7/1	043632AA6
—	HORSEHEAD HLDG CORP	365,645	$4.285M	1.3%	$11.72	$12.66	—	COM	440694305
—	PLY GEM HLDGS INC	301,197	$3.551M	1.1%	$11.79	$18.30	—	COM	72941W100
—	COBALT INTL ENERGY INC	290,000	$2.816M	0.9%	$9.71	—	—	Put	19075F106
—	CUMULUS MEDIA INC	1,234,906	$2.507M	0.8%	$2.03	$2.47	—	CL A	231082108
—	OUTFRONT MEDIA INC	89,663	$2.263M	0.7%	$25.24	$26.84	—	COM	69007J106
—	ERICKSON INC	229,925	$998K	0.3%	$4.34	$15.66	—	COM	29482P100