0001422107-12-000031.txt : 20120214
0001422107-12-000031.hdr.sgml : 20120214
20120214102805
ACCESSION NUMBER: 0001422107-12-000031
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20111231
FILED AS OF DATE: 20120214
DATE AS OF CHANGE: 20120214
EFFECTIVENESS DATE: 20120214
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: 12603643
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
wam13q42011.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: December 31, 2011
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 February 14, 2012
--------------------
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: 23
Form 13F Information Table Value Total: $278,321
(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.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
No. Form 13F File Number Name
1 28-11473 WS Partners, L.L.C.
FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x $1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
-------------- -------------- ----- --------- ------- --- ---- ------- -------- ---- ------ -----
ARVINMERITOR INC FRNT 4.625% 3/0 043353AF8 2,297 3,000,000 PRN OTHER 1 3,000,000
BP PLC SPONSORED ADR 055622104 8,566 200,413 SH Other 1 200,413
CAPITALSOURCE INC COM 14055X102 2,234 333,400 SH Other 1 333,400
CIT GROUP INC COM NEW 125581801 4,437 127,251 SH Other 1 127,251
CLEAR CHANNEL OUTDOOR HLDGS CL A 18451C109 4,733 377,113 SH Other 1 377,113
EQUINIX INC NOTE 3.000% 10/1 29444UAG1 18,438 16,410,000 PRN Other 1 16,410,000
GENERAL MTRS CO COM 37045V100 2,397 118,269 SH Other 1 118,269
GENERAL MTRS CO *W EXP 07/10/201 37045V118 2,286 195,330 SH Other 1 195,330
GENERAL MTRS CO *W EXP 07/10/201 37045V126 1,533 195,330 SH Other 1 195,330
BLOCK H & R INC COM 093671105 8,333 510,300 SH PUT Other 1 510,300
ISHARES TR RUSSELL 2000 464287655 60,033 814,000 SH PUT Other 1 814,000
LAMAR ADVERTISING CO CL A 512815101 7,163 260,457 SH Other 1 260,457
MACYS INC COM 55616P104 2,285 71,000 SH Other 1 71,000
MASCO CORP COM 574599106 12,362 1,179,553 SH Other 1 1,179,553
MGM RESORTS INTERNATIONAL COM 552953101 14,310 1,372,000 SH PUT Other 1 1,372,000
MGM RESORTS INTERNATIONAL NOTE 4.250% 4/1 55303QAE0 24,549 25,500,000 PRN Other 1 25,500,000
NORTEK INC COM NEW 656559309 7,484 287,284 SH Other 1 287,284
PACKAGING CORP AMER COM 695156109 9,280 367,676 SH Other 1 367,676
SAFEWAY INC COM NEW 786514208 8,465 402,352 SH Other 1 402,352
SPDR S&P 500 ETF TR TR UNIT 78462F103 48,882 389,500 SH PUT Other 1 389,500
SUNOCO INC COM 86764P109 10,064 245,339 SH Other 1 245,339
VIRGIN MEDIA INC COM 92769L101 11,154 521,700 SH Other 1 521,700
GRACE W R & CO DEL NEW COM 38388F108 7,036 153,224 SH Other 1 153,224