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WAM

Watershed Asset Management Portfolio holdings

AUM $96.5M
This Fund
S&P 500
This Quarter Est. Return
+1.39%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$263M
AUM Growth
-$39.7M
Cap. Flow
-$43.1M
Cap. Flow %
-16.4%
Top 10 Hldgs %
76.26%
Holding
32
New
1
Increased
4
Reduced
12
Closed
6

Top Buys

Rank Stock Value
1
OUT icon
Outfront Media
OUT
+$2.74M
2
NPO icon
Enpro
NPO
+$554K
3
GPK icon
Graphic Packaging
GPK
+$505K
4
HOUS
Anywhere Real Estate
HOUS
+$408K

Top Sells

Rank Stock Value
1
RBS.PRQ
ROYAL BANK OF SCOTLAND GP PLC (THE) ADR REPSTG PFD SHS SER Q
RBS.PRQ
+$5.37M
2
NTK
NORTEK INC COM NEW (DE)
NTK
+$3.07M
3
GM icon
General Motors
GM
+$2.6M
4
BAS
Basis Energy Services, Inc.
BAS
+$2.42M
5
GM.WS.B
General Motors Company
GM.WS.B
+$2.15M

Sector Composition

Rank Sector Weight
1 Industrials 9.31%
2 Financials 5.36%
3 Materials 3.84%
4 Real Estate 3.3%
5 Communication Services 3.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.4B
$75.2M 28.61%
790,000
+510,000
+182% +$48.2M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$787B
$39.1M 14.89%
200,000
-260,000
-57% -$49.4M
IWM icon
3
PUT
iShares Russell 2000 ETF
IWM
$81.6B
$20.2M 7.68%
170,000
-77,000
-31% -$8.74M
VER
4
DELISTED
VEREIT, Inc.
VER
$14.8M 5.64%
236,627
– –
EAC
5
DELISTED
Erickson Incorporated
EAC
$11.3M 4.29%
693,550
-61,864
-8% -$1.01M
APC
6
DELISTED
Anadarko Petroleum
APC
$8.48M 3.23%
77,500
-19,500
-20% -$1.99M
GPK icon
7
Graphic Packaging
GPK
$3.29B
$8.34M 3.17%
713,122
+47,100
+7% +$505K
I.PRA
8
DELISTED
INTELSAT S A MANDATORY CONV JR NON VTG PFD SHS (LUX)
I.PRA
$8M 3.04%
157,100
– –
TROX icon
9
Tronox
TROX
$1.06B
$7.5M 2.85%
278,960
-74,104
-21% -$1.9M
NPO icon
10
Enpro
NPO
$7.07B
$7.48M 2.85%
102,240
+7,700
+8% +$554K
CUBI icon
11
Customers Bancorp
CUBI
$2.59B
$7.1M 2.7%
354,799
-2
-0% -$40
NTK
12
DELISTED
NORTEK INC COM NEW (DE)
NTK
$6.6M 2.51%
73,569
-36,262
-33% -$3.07M
AIG icon
13
American International
AIG
$41.5B
$6.47M 2.46%
118,600
-10,000
-8% -$529K
HOUS
14
DELISTED
Anywhere Real Estate
HOUS
$5.84M 2.22%
154,768
+10,500
+7% +$408K
PGEM
15
DELISTED
Ply Gem Holdings, Inc.
PGEM
$5.72M 2.18%
566,407
– –
ANDV
16
DELISTED
Andeavor
ANDV
$4.49M 1.71%
76,524
-26,600
-26% -$1.47M
RBS.PRS.CL
17
DELISTED
The Royal Bank Of Scotland Group
RBS.PRS.CL
$3.72M 1.42%
151,573
– –
CCO icon
18
Clear Channel Outdoor Holdings
CCO
$1.23B
$3.61M 1.37%
441,193
– –
OUT icon
19
Outfront Media
OUT
$5.62B
$2.84M 1.08%
+116,204
New +$2.74M
LBTYK icon
20
Liberty Global Class C
LBTYK
$3.44B
$2.75M 1.05%
80,346
– –
CLW icon
21
Clearwater Paper
CLW
$268M
$2.59M 0.99%
42,006
-20,215
-32% -$1.26M
LBTYA icon
22
Liberty Global Class A
LBTYA
$3.52B
$2.25M 0.86%
61,836
-16,974
-22% -$595K
MTOR
23
PUT
DELISTED
MERITOR, Inc.
MTOR
$2.21M 0.84%
169,500
-130,500
-44% -$1.72M
I
24
DELISTED
INTELSAT S. A.
I
$980K 0.37%
52,000
– –
NMIH icon
25
NMI Holdings
NMIH
$3.17B
$525K 0.2%
50,000
– –
1
2

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Watershed Asset Management's Q2 2014 Portfolio in Review

As of Q2 2014, Watershed Asset Management held 32 positions worth $263M, down 13% from $303M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Watershed Asset Management withdrew a net $43.1M in Q2 2014, closing 6 positions and reducing 12 holdings. Its most notable exit was ROYAL BANK OF SCOTLAND GP PLC (THE) ADR REPSTG PFD SHS SER Q, an estimated $5.37M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 9.3% of assets, down from 9.5% a quarter earlier, followed by Financials and Materials.

Against the trend, Watershed Asset Management opened a new position in Outfront Media worth $2.84M.

  • Watershed Asset Management's largest Q2 2014 buy was Outfront Media: 116,204 shares worth $2.84M.
  • Watershed Asset Management added most to Enpro in Q2 2014, an estimated $554K increase.
  • Watershed Asset Management's biggest Q2 2014 reduction was NORTEK INC COM NEW (DE), cutting an estimated $3.07M.
  • Watershed Asset Management fully exited ROYAL BANK OF SCOTLAND GP PLC (THE) ADR REPSTG PFD SHS SER Q in Q2 2014, selling an estimated $5.37M.
  • Watershed Asset Management's ten largest holdings make up 76% of its $263M portfolio in Q2 2014.
  • Watershed Asset Management opened 1 new position and closed 6 in Q2 2014.
  • Watershed Asset Management's portfolio value fell 13% quarter-over-quarter to $263M.

Based on Watershed Asset Management's 13F filing for Q2 2014, filed 14 Aug 2014.