Watershed Asset Management, L.L.C.

CIK

1315926

Location

San Francisco, CA

Portfolio Value

Micro $80,446,839

Diversification

Diversified

Filing Date

Global Rank

#5,775 / 8,232 ▲ 213

Top Industry

Semiconductor Equipment & Materials 10.3%

3Y Alpha vs SPY

-0.8%

Period ended 2 months ago

Filed May 6, 2026 · 39d

11 quarters · since Dec 2021

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+72.7%

SPY

+76.3%

Annualised alpha

-0.8%

Max drawdown

−19.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

113 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.3%

−1.3 pts

Top 5

20.7%

−3.1 pts

Top 10

36.3%

−4.2 pts

HHI

187

Diversified−31

Portfolio Trend

11 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	38.5%	$30,982,088	44
Financial Services	17.2%	$13,800,114	17
Healthcare	13.9%	$11,173,641	13
Consumer Cyclical	13.5%	$10,882,955	14
Communication Services	8.1%	$6,510,447	9
Industrials	3.7%	$2,966,824	6
Consumer Defensive	3.7%	$2,949,751	7
Utilities	1.0%	$783,757	2
Energy	0.5%	$397,262	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
WRBY	Warby Parker Inc.	+26,500	70,500	$1,485,435
EVER	EverQuote, Inc.	+11,112	28,241	$435,476
GTLB	Gitlab Inc.	+10,000	64,000	$1,384,960
TASK	TaskUs, Inc.	+7,589	46,422	$311,491
AMAT	Applied Materials Inc /De	+6,838	8,500	$2,905,215
GEN	Gen Digital Inc.	+5,558	22,620	$425,934
PRGS	Progress Software Corp /Ma	+4,534	15,335	$393,342
HPQ	Hp Inc	+4,078	23,328	$448,130
COLL	Collegium Pharmaceutical, Inc	+3,955	13,578	$449,024
TILE	Interface Inc	+2,949	18,828	$469,193
PYPL	PayPal Holdings, Inc.	+2,295	9,595	$433,981
BANC	Banc Of California, Inc.	+2,259	24,355	$428,160
FIS	Fidelity National Information Services, Inc.	+2,097	8,810	$413,277
CTSH	Cognizant Technology Solutions Corp	+2,072	7,362	$451,658
KFY	Korn Ferry	+1,914	8,143	$512,601
META	Meta Platforms, Inc.	+1,640	5,087	$2,910,425
TMO	Thermo Fisher Scientific Inc.	+1,600	7,000	$3,440,710
MTCH	Match Group, Inc.	+1,418	14,739	$452,634
IIIN	Insteel Industries Inc	+1,389	14,890	$500,452
CNOB	ConnectOne Bancorp, Inc.	+1,265	16,379	$438,465
ZM	Zoom Communications, Inc.	+827	6,019	$483,867
BYD	Boyd Gaming Corp	+820	5,586	$459,057
SKYW	Skywest Inc	+777	5,142	$472,189
PB	Prosperity Bancshares Inc	+678	6,644	$446,343
PLUS	Eplus Inc	+513	5,784	$435,246
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
LOCO	El Pollo Loco Holdings, Inc.	−17,656	29,441	$408,052
VMD	Viemed Healthcare, Inc.	−14,936	47,717	$439,473
PRDO	PERDOCEO EDUCATION Corp	−5,501	11,662	$433,943
ACEL	Accel Entertainment, Inc.	−4,489	38,046	$415,081
INVA	Innoviva, Inc.	−2,757	20,366	$474,527
CON	Concentra Group Holdings Parent, Inc.	−2,533	20,052	$430,115
AVT	Avnet Inc	−2,211	7,015	$432,264
DIOD	Diodes Inc /Del/	−1,834	6,717	$458,502
PHIN	Phinia Inc.	−1,817	6,486	$443,901
LITE	Lumentum Holdings Inc.	−1,800	2,200	$1,546,072
VZ	Verizon Communications Inc	−1,610	9,292	$466,458
V	Visa Inc.	−1,450	14,050	$4,246,472
AMKR	Amkor Technology, Inc.	−1,336	10,066	$453,271
AKAM	Akamai Technologies Inc	−1,327	4,101	$470,999
VLY	Valley National Bancorp	−1,285	33,334	$409,341
ARW	Arrow Electronics, Inc.	−1,077	3,006	$431,090
MKSI	Mks Inc	−1,075	1,827	$419,862
DBD	DIEBOLD NIXDORF, Inc	−799	5,736	$432,723
JBSS	Sanfilippo John B & Son Inc	−753	5,387	$427,350
PLXS	Plexus Corp	−710	2,131	$431,612
ZUMZ	Zumiez Inc	−663	18,054	$400,076
MU	Micron Technology Inc	−573	1,086	$366,894
DELL	Dell Technologies Inc.	−517	3,047	$500,104
CFFN	Capitol Federal Financial, Inc.	−450	58,965	$420,420
CRUS	Cirrus Logic, Inc.	−436	3,366	$486,790
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
MCO	Moodys Corp /De/	7,000	$3,053,750
AMZN	Amazon Com Inc	14,600	$3,040,742
TER	Teradyne, Inc	8,900	$2,638,494
KLAC	Kla Corp	1,560	$2,296,959
INTC	Intel Corp	45,600	$2,012,328
NVDA	Nvidia Corp	10,900	$1,900,960
DHR	Danaher Corp /De/	9,400	$1,782,240
MAN	ManpowerGroup Inc.	17,458	$514,312
HUM	Humana Inc	2,735	$474,221
EBF	Ennis, Inc.	22,020	$471,668
INGM	Ingram Micro Holding Corp	20,184	$470,489
GTM	ZoomInfo Technologies Inc.	77,728	$464,813
ADBE	Adobe Inc.	1,907	$463,553
PGY	Pagaya Technologies Ltd.	39,762	$463,227
PGC	Peapack Gladstone Financial Corp	13,154	$463,152
DVA	Davita Inc.	3,003	$461,531
NWSA	News Corp	18,478	$460,656
WEX	WEX Inc.	2,967	$454,069
ASO	Academy Sports & Outdoors, Inc.	8,024	$452,954
IBEX	IBEX Ltd	16,877	$452,641
BKE	Buckle Inc	8,970	$451,729
FSLR	First Solar, Inc.	2,280	$449,752
CARG	CarGurus, Inc.	13,191	$449,153
VITL	Vital Farms, Inc.	31,778	$448,705
IDT	Idt Corp	9,112	$447,399
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
MSFT	Microsoft Corp	9,300	$4,497,666
BROS	Dutch Bros Inc.	57,200	$3,501,784
SPGI	S&P Global Inc.	6,200	$3,240,058
MNDY	monday.com Ltd.	20,750	$3,061,870
WDC	Western Digital Corp	17,400	$2,997,498
SE	Sea Ltd	19,480	$2,485,063
RYN	Rayonier Inc	84,135	$1,821,522
CAKE	Cheesecake Factory Inc	9,944	$501,973
SIG	Signet Jewelers Ltd	5,839	$483,936
TNL	Travel & Leisure Co.	6,585	$464,440
CPRX	Catalyst Pharmaceuticals, Inc.	19,712	$460,078
SEB	Seaboard Corp /De/	102	$453,371
ZD	Ziff Davis, Inc.	12,883	$452,837
HNI	Hni Corp	10,736	$451,341
KR	Kroger Co	7,202	$449,980
FOXA	Fox Corp	6,148	$449,234
CXT	Crane NXT, Co.	9,471	$445,799
YELP	Yelp Inc	14,630	$444,605
MRK	Merck & Co., Inc.	4,214	$443,565
VRSN	Verisign Inc/Ca	1,819	$441,926
DIS	Walt Disney Co	3,880	$441,427
OMC	Omnicom Group Inc.	5,460	$440,895
DG	Dollar General Corp	3,308	$439,203
PENG	Penguin Solutions, Inc.	22,415	$438,437
C	Citigroup Inc	3,744	$436,887
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

113 positions · $80,446,839 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Technology Utilities

Showing 1–50 of 113 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
V	Visa Inc. Financial Services	Reduced	14,050	-1,450	$4,246,472	−21.9%	5.28%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	7,000	+1,600	$3,440,710	+10.0%	4.28%
MCO	Moodys Corp /De/ Financial Services	NEW	7,000	NEW	$3,053,750	NEW	3.80%
AMZN	Amazon Com Inc Consumer Cyclical	NEW	14,600	NEW	$3,040,742	NEW	3.78%
META	Meta Platforms, Inc. Communication Services	Added	5,087	+1,640	$2,910,425	+27.9%	3.62%
AMAT	Applied Materials Inc /De Technology	Added	8,500	+6,838	$2,905,215	+580.2%	3.61%
TER	Teradyne, Inc Technology	NEW	8,900	NEW	$2,638,494	NEW	3.28%
MELI	Mercadolibre Inc Consumer Cyclical	Held	1,515	0	$2,619,465	−14.2%	3.26%
KLAC	Kla Corp Technology	NEW	1,560	NEW	$2,296,959	NEW	2.86%
INTC	Intel Corp Technology	NEW	45,600	NEW	$2,012,328	NEW	2.50%
NVDA	Nvidia Corp Technology	NEW	10,900	NEW	$1,900,960	NEW	2.36%
DHR	Danaher Corp /De/ Healthcare	NEW	9,400	NEW	$1,782,240	NEW	2.22%
LITE	Lumentum Holdings Inc. Technology	Reduced	2,200	-1,800	$1,546,072	+4.9%	1.92%
WRBY	Warby Parker Inc. Healthcare	Added	70,500	+26,500	$1,485,435	+54.9%	1.85%
GTLB	Gitlab Inc. Technology	Added	64,000	+10,000	$1,384,960	−31.7%	1.72%
MAN	ManpowerGroup Inc. Industrials	NEW	17,458	NEW	$514,312	NEW	0.64%
KFY	Korn Ferry Industrials	Added	8,143	+1,914	$512,601	+24.6%	0.64%
IIIN	Insteel Industries Inc Industrials	Added	14,890	+1,389	$500,452	+17.0%	0.62%
DELL	Dell Technologies Inc. Technology	Reduced	3,047	-517	$500,104	+11.5%	0.62%
R	Ryder System Inc Industrials	Held	2,421	0	$495,602	+7.0%	0.62%
CRUS	Cirrus Logic, Inc. Technology	Reduced	3,366	-436	$486,790	+8.0%	0.61%
ZM	Zoom Communications, Inc. Technology	Added	6,019	+827	$483,867	+8.0%	0.60%
T	At&T Inc. Communication Services	Held	16,472	0	$477,523	+16.7%	0.59%
INVA	Innoviva, Inc. Healthcare	Reduced	20,366	-2,757	$474,527	+2.7%	0.59%
HUM	Humana Inc Healthcare	NEW	2,735	NEW	$474,221	NEW	0.59%
SKYW	Skywest Inc Industrials	Added	5,142	+777	$472,189	+7.7%	0.59%
EBF	Ennis, Inc. Industrials	NEW	22,020	NEW	$471,668	NEW	0.59%
AKAM	Akamai Technologies Inc Technology	Reduced	4,101	-1,327	$470,999	−0.5%	0.59%
INGM	Ingram Micro Holding Corp Technology	NEW	20,184	NEW	$470,489	NEW	0.58%
TILE	Interface Inc Consumer Cyclical	Added	18,828	+2,949	$469,193	+5.8%	0.58%
VZ	Verizon Communications Inc Communication Services	Reduced	9,292	-1,610	$466,458	+5.0%	0.58%
GTM	ZoomInfo Technologies Inc. Technology	NEW	77,728	NEW	$464,813	NEW	0.58%
ADBE	Adobe Inc. Technology	NEW	1,907	NEW	$463,553	NEW	0.58%
PGY	Pagaya Technologies Ltd. Technology	NEW	39,762	NEW	$463,227	NEW	0.58%
PGC	Peapack Gladstone Financial Corp Financial Services	NEW	13,154	NEW	$463,152	NEW	0.58%
NTAP	NetApp, Inc. Technology	Added	4,518	+419	$462,598	+5.4%	0.58%
DVA	Davita Inc. Healthcare	NEW	3,003	NEW	$461,531	NEW	0.57%
NWSA	News Corp Communication Services	NEW	18,478	NEW	$460,656	NEW	0.57%
BYD	Boyd Gaming Corp Consumer Cyclical	Added	5,586	+820	$459,057	+13.0%	0.57%
DIOD	Diodes Inc /Del/ Technology	Reduced	6,717	-1,834	$458,502	+8.7%	0.57%
BBT	Beacon Financial Corp Financial Services	Held	15,229	0	$456,870	+13.8%	0.57%
WEX	WEX Inc. Technology	NEW	2,967	NEW	$454,069	NEW	0.56%
AMKR	Amkor Technology, Inc. Technology	Reduced	10,066	-1,336	$453,271	+0.7%	0.56%
ASO	Academy Sports & Outdoors, Inc. Consumer Cyclical	NEW	8,024	NEW	$452,954	NEW	0.56%
IBEX	IBEX Ltd Technology	NEW	16,877	NEW	$452,641	NEW	0.56%
MTCH	Match Group, Inc. Communication Services	Added	14,739	+1,418	$452,634	+5.2%	0.56%
BKE	Buckle Inc Consumer Cyclical	NEW	8,970	NEW	$451,729	NEW	0.56%
CTSH	Cognizant Technology Solutions Corp Technology	Added	7,362	+2,072	$451,658	+2.9%	0.56%
FSLR	First Solar, Inc. Technology	NEW	2,280	NEW	$449,752	NEW	0.56%
CARG	CarGurus, Inc. Consumer Cyclical	NEW	13,191	NEW	$449,153	NEW	0.56%