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WAM
Watershed Asset Management Portfolio holdings
AUM
$112M
This Fund
S&P 500
This Quarter
Est. Return
-7.1%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$471M
AUM Growth
+$208M
(+79%)
Cap. Flow
-$25.6M
Cap. Flow
% of AUM
-5.44%
Top 10 Holdings %
Top 10 Hldgs %
91.42%
Holding
29
New
3
Increased
8
Reduced
4
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
GRA
W.R. Grace & Co.
GRA
|
+$7.47M |
| 2 |
KEG
KEY ENERGY SERVICES INC
KEG
|
+$4.36M |
| 3 |
Outfront Media
OUT
|
+$3.45M |
| 4 |
VER
VEREIT, Inc.
VER
|
+$3.29M |
| 5 |
Enpro
NPO
|
+$843K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Graphic Packaging
GPK
|
+$8.34M |
| 2 |
I.PRA
INTELSAT S A MANDATORY CONV JR NON VTG PFD SHS (LUX)
I.PRA
|
+$8M |
| 3 |
Tronox
TROX
|
+$7.5M |
| 4 |
HOUS
Anywhere Real Estate
HOUS
|
+$5.84M |
| 5 |
RBS.PRS.CL
The Royal Bank Of Scotland Group
RBS.PRS.CL
|
+$3.72M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 82.49% |
| 2 | Real Estate | 4.91% |
| 3 | Industrials | 4.23% |
| 4 | Energy | 3.5% |
| 5 | Financials | 2.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.4B
| $183M | 38.79% |
1,985,000
+1,195,000
| +151% | +$112M |
|
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
| $91.6M | 19.47% |
465,000
+265,000
| +133% | +$52.4M |
|
3
PUT
iShares Russell 2000 ETF
IWM
$80.5B
| $53.6M | 11.39% |
490,000
+320,000
| +188% | +$36.6M |
|
4
PUT
iShares US Real Estate ETF
IYR
$4.33B
| $48.4M | 10.29% |
+700,000
| New | +$50.7M |
|
|
VER
5
DELISTED
VEREIT, Inc.
VER
| $17.4M | 3.69% |
287,743
+51,116
| +22% | +$3.29M |
|
|
EAC
6
DELISTED
Erickson Incorporated
EAC
| $8.19M | 1.74% |
630,385
-63,165
| -9% | -$902K |
|
|
APC
7
DELISTED
Anadarko Petroleum
APC
| $8.03M | 1.71% |
79,199
+1,699
| +2% | +$183K |
|
|
GRA
8
DELISTED
W.R. Grace & Co.
GRA
| $7.09M | 1.51% |
+77,987
| New | +$7.47M |
|
|
9
Enpro
NPO
$6.29B
| $6.94M | 1.47% |
114,621
+12,381
| +12% | +$843K |
|
10
Customers Bancorp
CUBI
$2.74B
| $6.41M | 1.36% |
356,820
+2,021
| +0.6% | +$38.2K |
|
11
American International
AIG
$39.8B
| $5.98M | 1.27% |
110,771
-7,829
| -7% | -$428K |
|
|
12
Outfront Media
OUT
$5.1B
| $5.76M | 1.22% |
257,024
+140,820
| +121% | +$3.45M |
|
|
NTK
13
DELISTED
NORTEK INC COM NEW (DE)
NTK
| $5.48M | 1.16% |
73,569
| – | – |
|
|
PGEM
14
DELISTED
Ply Gem Holdings, Inc.
PGEM
| $4.77M | 1.01% |
440,373
-126,034
| -22% | -$1.31M |
|
|
KEG
15
DELISTED
KEY ENERGY SERVICES INC
KEG
| $4.36M | 0.93% |
+900,921
| New | +$4.36M |
|
|
ANDV
16
DELISTED
Andeavor
ANDV
| $4.09M | 0.87% |
67,138
-9,386
| -12% | -$578K |
|
17
Clear Channel Outdoor Holdings
CCO
$1.21B
| $2.97M | 0.63% |
441,193
| – | – |
|
|
MTOR
18
PUT
DELISTED
MERITOR, Inc.
MTOR
| $1.84M | 0.39% |
169,500
| – | – |
|
19
NMI Holdings
NMIH
$3.37B
| $433K | 0.09% |
50,000
| – | – |
|
20
Clearwater Paper
CLW
$337M
| – | – |
-42,006
| Closed | -$2.59M |
|
|
21
Graphic Packaging
GPK
$3.09B
| – | – |
-713,122
| Closed | -$8.34M |
|
|
HOUS
22
DELISTED
Anywhere Real Estate
HOUS
| – | – |
-154,768
| Closed | -$5.84M |
|
23
Liberty Global Class A
LBTYA
$3.62B
| – | – |
-61,836
| Closed | -$2.25M |
|
24
Liberty Global Class C
LBTYK
$3.56B
| – | – |
-80,346
| Closed | -$2.75M |
|
|
25
Tronox
TROX
$768M
| – | – |
-278,960
| Closed | -$7.5M |
|
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Watershed Asset Management's Q3 2014 Portfolio in Review
As of Q3 2014, Watershed Asset Management held 29 positions worth $471M, up 79% from $263M the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Watershed Asset Management withdrew a net $25.6M in Q3 2014, closing 9 positions and reducing 4 holdings. Its most notable exit was Graphic Packaging, an estimated $8.34M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 82% of assets, up from 61% a quarter earlier, followed by Real Estate and Industrials.
Against the trend, Watershed Asset Management opened a new position in W.R. Grace & Co. worth $7.09M.
- Watershed Asset Management's largest Q3 2014 buy was W.R. Grace & Co.: 77,987 shares worth $7.09M.
- Watershed Asset Management added most to Outfront Media in Q3 2014, an estimated $3.45M increase.
- Watershed Asset Management's biggest Q3 2014 reduction was Ply Gem Holdings, Inc., cutting an estimated $1.31M.
- Watershed Asset Management fully exited Graphic Packaging in Q3 2014, selling an estimated $8.34M.
- Watershed Asset Management's ten largest holdings make up 91% of its $471M portfolio in Q3 2014.
- Watershed Asset Management opened 3 new positions and closed 9 in Q3 2014.
- Watershed Asset Management's portfolio value rose 79% quarter-over-quarter to $471M.
Based on Watershed Asset Management's 13F filing for Q3 2014, filed 14 Nov 2014.