-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NyLur+XrbAUYAesV3wRsK6Um4trJuqaVSOwmvct0A5VaEYDLu7ON7TBFI9IrLb9V 5rv7lUgl9p7xto2ah8n0WQ== 0001422107-10-000054.txt : 20101115 0001422107-10-000054.hdr.sgml : 20101115 20101115121816 ACCESSION NUMBER: 0001422107-10-000054 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20100930 FILED AS OF DATE: 20101115 DATE AS OF CHANGE: 20101115 EFFECTIVENESS DATE: 20101115 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Watershed Asset Management, L.L.C. CENTRAL INDEX KEY: 0001315926 IRS NUMBER: 300012121 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11095 FILM NUMBER: 101190404 BUSINESS ADDRESS: STREET 1: ONE MARITIME PLAZA STREET 2: SUITE 1525 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: (415) 391-8900 MAIL ADDRESS: STREET 1: ONE MARITIME PLAZA STREET 2: SUITE 1525 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 13F-HR 1 wamllc13fq32010.txt ........................... OMB Approval ........................... OMB Number: 3235-0006 Expires: August 31, 2012 Estimated average burden hours per response.....23.5 ........................... UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2010 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Watershed Asset Management, L.L.C. Address: One Maritime Plaza, Suite 1525 San Francisco, CA 94111 Form 13F File Number: 28-11095 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Meridee A. Moore Title: Senior Managing Member Phone: (415) 391-8900 Signature, Place, and Date of Signing: /s/ Meridee A. Moore ________________________ San Francisco, CA November 15, 2010 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 10 Form 13F Information Table Value Total: $202,913 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 28-11473 WS Partners, L.L.C. FORM 13F INFORMATION TABLE COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 - -------- -------- -------- -------- -------- -------- -------- -------- VALUE SHARES/ SH/ PUT/ INVESTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x $1,000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE - -------------- -------------- ----- ---------- ------- --- ---- ------- -------- ---- ------ ---- CIT GROUP INC COM NEW 125581801 9,700 237,625 SH Other 1 237,625 CLEAR CHANNEL OUTDOOR HLDGS CL A 18451C109 4,827 422,300 SH Other 1 422,300 EQUINIX INC NOTE 3.000%10/1 29444UAG1 41,096 36,700,000 PRN Other 1 36,700,000 ISHARES TR RUSSELL 2000 464287655 40,028 593,000 SH PUT Other 1 593,000 MASCO CORP COM 574599106 7,519 682,933 SH Other 1 682,933 PACKAGING CORP AMER COM 695156109 11,288 487,200 SH Other 1 487,200 SPDR S&P 500 ETF TR TR UNIT 78462F103 55,581 487,000 SH PUT Other 1 487,000 SMURFIT-STONE CONTAINER CORP COM 83272A104 10,401 566,208 SH Other 1 566,208 TIME WARNER TELECOM INC DBCV 2.375% 4/0 887319AC5 9,919 8,416,000 PRN Other 1 8,416,000 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 12,554 506,000 SH Other 1 506,000
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