Q2 2026 13F · SEC CIK 1315926

Watershed Asset Management, L.L.C.

Asset managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $111.8M
Reported positions: 116
Top holdings a year, 3 yrs: +18.1%
Average holding period: 3 qtrs

Watershed Asset Management, L.L.C. is an asset manager that reported 116 positions worth $111.8M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Visa Inc (V, 4.8%), Vanguard Intl Equity Index F (VEU, 4.7%), Thermo Fisher Scientific Inc (TMO, 4.1%). A portfolio copying its top holdings returned 18.1% a year over the last 3 years, against 22.3% for the S&P 500.

Watershed Asset Management, L.L.C. holdings largest 50 of 116 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Watershed Asset Management, L.L.C. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
VVisa Inc	4.8%	4.4%	15,600	+11.0%	$5.4M
VEUVanguard Intl Equity Index F	4.7%	5.9%	63,091	-16.7%	$5.3M
TMOThermo Fisher Scientific Inc	4.1%	3.6%	9,150	+30.7%	$4.6M
AMZNAmazon Com Inc	4.0%	3.2%	18,800	+28.8%	$4.5M
MCOMoodys Corp	3.7%	3.2%	9,250	+32.1%	$4.2M
EWWIshares Inc	3.6%	4.2%	53,500	+0.0%	$4.0M
METAMeta Platforms Inc	3.2%	3.0%	6,387	+25.6%	$3.6M
TSMTaiwan Semiconductor Manufac	3.2%	—	7,400	—	$3.5M
TANInvesco Solar ETF	2.9%	2.1%	54,000	+50.0%	$3.2M
SESea Ltd	2.4%	—	28,300	—	$2.7M
AMATApplied Matls Inc	2.4%	3.0%	3,750	-55.9%	$2.7M
RGENRepligen Corp	2.3%	—	18,800	—	$2.6M
INDAIshares Tr	2.2%	2.4%	50,000	+0.0%	$2.5M
DASHDoordash Inc	2.2%	—	13,100	—	$2.4M
ADIAnalog Devices Inc	2.1%	—	6,000	—	$2.4M
SHOPShopify Inc	2.1%	—	20,100	—	$2.3M
KLACKla Corp	2.0%	2.4%	7,400	+374.4%	$2.2M
WRBYWarby Parker Inc	1.9%	1.5%	70,500	+0.0%	$2.1M
TERTeradyne Inc	1.9%	2.7%	4,350	-51.1%	$2.1M
CXTCrane Nxt Co	0.6%	—	12,218	—	$625K
QLYSQualys Inc	0.5%	—	4,366	—	$600K
PGYPagaya Technologies Ltd	0.5%	0.5%	32,800	-17.5%	$599K
NSITInsight Enterprises Inc	0.5%	—	4,899	—	$597K
RNGRingcentral Inc	0.5%	—	15,297	—	$596K
CCSIConsensus Cloud Solutions in	0.5%	—	15,592	—	$595K
CDWCdw Corp/de	0.5%	—	4,160	—	$585K
EEFTEuronet Worldwide Inc	0.5%	—	7,950	—	$582K
GDDYGodaddy Inc	0.5%	—	6,848	—	$581K
FIVNFive9 Inc	0.5%	—	27,171	—	$579K
AMKRAmkor Technology Inc	0.5%	0.5%	6,716	-33.3%	$579K
DVADavita Inc	0.5%	0.5%	2,590	-13.8%	$576K
BLKBBlackbaud Inc	0.5%	—	19,392	—	$574K
WEXWex Inc	0.5%	0.5%	4,043	+36.3%	$570K
CARGCargurus Inc	0.5%	—	16,686	—	$569K
ADBEAdobe Inc	0.5%	0.5%	2,759	+44.7%	$566K
JBLJabil Inc	0.5%	—	1,464	—	$564K
VMDViemed Healthcare Inc	0.5%	—	49,487	—	$564K
PLABPhotronics Inc	0.5%	—	17,320	—	$563K
CNXNPc Connection Inc	0.5%	—	7,680	—	$561K
DBDDiebold Nixdorf Inc	0.5%	—	6,572	—	$559K
PLUSePlus Inc	0.5%	—	6,699	—	$558K
KRNYKearny Financial Corp	0.5%	—	58,916	—	$557K
CASSCass Information Sys Inc	0.5%	—	10,807	—	$555K
CPAYCorpay Inc	0.5%	—	1,660	—	$553K
IBEXIbex Ltd	0.5%	0.5%	18,017	+6.8%	$547K
BDCBelden Inc	0.5%	—	4,559	—	$547K
CRMSalesforce Inc	0.5%	—	3,488	—	$546K
SKYWSkywest Inc	0.5%	0.5%	5,492	+6.8%	$546K
OSISOSI Systems Inc	0.5%	—	2,485	—	$543K
COLLCollegium Pharmaceutical Inc	0.5%	—	14,970	—	$542K

What Watershed Asset Management, L.L.C. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

KLAC Kla Corp+374.4% shares
TAN Invesco Solar ETF+50.0% shares
ADBE Adobe Inc+44.7% shares
WEX Wex Inc+36.3% shares
MCO Moodys Corp+32.1% shares
TMO Thermo Fisher Scientific Inc+30.7% shares
AMZN Amazon Com Inc+28.8% shares
META Meta Platforms Inc+25.6% shares

Reduced

AMAT Applied Matls Inc-55.9% shares
TER Teradyne Inc-51.1% shares
AMKR Amkor Technology Inc-33.3% shares
PGY Pagaya Technologies Ltd-17.5% shares
VEU Vanguard Intl Equity Index F-16.7% shares
DVA Davita Inc-13.8% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +11.5% /yr; S&P 500 +11.7%
3 years: +18.1% /yr; S&P 500 +22.3%
5 years: +8.0% /yr; S&P 500 +12.3%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$111.8M	116
Q1 2026	$96.5M	118
Q4 2025	$107.1M	118
Q4 2023	$85.7M	116
Q3 2023	$83.5M	119
Q2 2023	$80.7M	116
Q1 2023	$82.5M	117
Q4 2022	$78.9M	115
Q3 2022	$76.7M	120
Q2 2022	$80.8M	118
Q1 2022	$98.8M	123
Q4 2021	$111.0M	122

Questions about Watershed Asset Management, L.L.C.'s portfolio

What stocks does Watershed Asset Management, L.L.C. own?

Watershed Asset Management, L.L.C.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 116 positions worth $111.8M. The largest are Visa Inc (V) at 4.8%, Vanguard Intl Equity Index F (VEU) at 4.7%, Thermo Fisher Scientific Inc (TMO) at 4.1%, Amazon Com Inc (AMZN) at 4.0% and Moodys Corp (MCO) at 3.7%.

What did Watershed Asset Management, L.L.C. buy last quarter?

In Q2 2026, Watershed Asset Management, L.L.C. added Kla Corp (KLAC) (+374.4% shares), Invesco Solar ETF (TAN) (+50.0% shares) and Adobe Inc (ADBE) (+44.7% shares), compared with its Q1 2026 filing.

What did Watershed Asset Management, L.L.C. sell last quarter?

In Q2 2026, Watershed Asset Management, L.L.C. cut from its top 50 Mercadolibre Inc (MELI), cut from its top 50 Intel Corp (INTC), cut from its top 50 Direxion Shares ETF Trust (QQQE), cut from its top 50 Nvidia Corporation (NVDA), cut from its top 50 Danaher Corp Del (DHR), Applied Matls Inc (AMAT) (-55.9% shares), Teradyne Inc (TER) (-51.1% shares) and Amkor Technology Inc (AMKR) (-33.3% shares), compared with its Q1 2026 filing.

How has Watershed Asset Management, L.L.C.'s portfolio performed?

A portfolio copying Watershed Asset Management, L.L.C.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +18.1% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: +11.5% against +11.7%. Over 5 years: +8.0% a year against +12.3%.

When is Watershed Asset Management, L.L.C.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Watershed Asset Management, L.L.C.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.