Watershed Asset Management, L.L.C.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Watershed Asset Management, L.L.C. reported 116 stock positions worth $111.8 million. Its top holding was Visa Class A (V) at 4.8% of the portfolio, followed by Vanguard Ftse All-World Ex-U (VEU, 4.7%) and Thermo Fisher Scientific (TMO, 4.1%). Compared with Q1 2026, it opened 27 new positions, sold out of 29, added to 36 and reduced 32. The biggest buy was a new position in Taiwan Semiconductor-SP ADR (TSM) and the biggest sale an exit from MercadoLibre (MELI).
- Most Recent 13F
- Q2 2026
- Location
- San Francisco, CA
- CIK
- 0001315926
- Portfolio Value
- $111.8M (Q2 2026)
- SEC Filing
- 0000935836-26-000411 ↗ filed Aug 14, 2026
Holdings Value
Holdings 116 stocks · $111.8M
| V Visa Inc. Class A | 4.79% | 15,600 | $5.4M | Add +11.0% |
| VEU Vanguard Ftse All-World Ex-U | 4.73% | 63,091 | $5.3M | Reduce -16.7% |
| TMO Thermo Fisher Scientific Inc. | 4.10% | 9,150 | $4.6M | Add +30.7% |
| AMZN Amazon.com Inc. | 4.01% | 18,800 | $4.5M | Add +28.8% |
| MCO Moody's Corp. | 3.75% | 9,250 | $4.2M | Add +32.1% |
| EWW iShares MSCI Mexico ETF | 3.60% | 53,500 | $4.0M | No change |
| META Meta Platforms Inc. Class A | 3.22% | 6,387 | $3.6M | Add +25.6% |
| TSM Taiwan Semiconductor-SP ADR | 3.16% | 7,400 | $3.5M | New |
| TAN Invesco Solar ETF | 2.86% | 54,000 | $3.2M | Add +50.0% |
| SE Sea Ltd.-ADR | 2.43% | 28,300 | $2.7M | New |
| AMAT Applied Materials Inc. | 2.43% | 3,750 | $2.7M | Reduce -55.9% |
| RGEN Repligen Corp. | 2.29% | 18,800 | $2.6M | New |
| INDA iShares MSCI India ETF | 2.21% | 50,000 | $2.5M | No change |
| DASH DoorDash Inc. Class A | 2.16% | 13,100 | $2.4M | New |
| ADI Analog Devices Inc. | 2.13% | 6,000 | $2.4M | New |
| SHOP Shopify Inc. Class A | 2.05% | 20,100 | $2.3M | New |
| KLAC KLA Corp. | 2.00% | 7,400 | $2.2M | Reduce -52.6% |
| WRBY Warby Parker Inc. Class A | 1.91% | 70,500 | $2.1M | No change |
| TER Teradyne Inc. | 1.88% | 4,350 | $2.1M | Reduce -51.1% |
| CXT Crane NXT Co. | 0.56% | 12,218 | $625K | New |
| QLYS Qualys Inc. | 0.54% | 4,366 | $600K | New |
| PGY Pagaya Technologies Ltd. Class A | 0.54% | 32,800 | $599K | Reduce -17.5% |
| NSIT Insight Enterprises Inc. | 0.53% | 4,899 | $597K | New |
| RNG Ringcentral Inc. Class A | 0.53% | 15,297 | $596K | New |
| CCSI Consensus Cloud Solution | 0.53% | 15,592 | $595K | New |
| CDW CDW Corp. | 0.52% | 4,160 | $585K | Add +16.3% |
| EEFT Euronet Worldwide Inc. | 0.52% | 7,950 | $582K | Add +18.3% |
| GDDY GoDaddy Inc. Class A | 0.52% | 6,848 | $581K | New |
| FIVN FIVE9 Inc. | 0.52% | 27,171 | $579K | New |
| AMKR Amkor Technology Inc. | 0.52% | 6,716 | $579K | Reduce -33.3% |
| DVA Davita Inc. | 0.52% | 2,590 | $576K | Reduce -13.8% |
| BLKB Blackbaud Inc. | 0.51% | 19,392 | $574K | New |
| WEX Wex Inc. | 0.51% | 4,043 | $570K | Add +36.3% |
| CARG Cargurus Inc. | 0.51% | 16,686 | $569K | Add +26.5% |
| ADBE Adobe Inc. | 0.51% | 2,759 | $566K | Add +44.7% |
| JBL Jabil Inc. | 0.50% | 1,464 | $564K | Reduce -13.2% |
| VMD Viemed Healthcare Inc. | 0.50% | 49,487 | $564K | Add +3.7% |
| PLAB Photronics Inc. | 0.50% | 17,320 | $563K | New |
| CNXN PC Connection Inc. | 0.50% | 7,680 | $561K | New |
| DBD Diebold Nixdorf Inc. | 0.50% | 6,572 | $559K | Add +14.6% |
| PLUS Eplus Inc. | 0.50% | 6,699 | $558K | Add +15.8% |
| KRNY Kearny Financial Corp. | 0.50% | 58,916 | $557K | No change |
| CASS Cass Information Systems Inc. | 0.50% | 10,807 | $555K | New |
| CPAY Corpay Inc. | 0.49% | 1,660 | $553K | Add +8.4% |
| IBEX Ibex Ltd. | 0.49% | 18,017 | $547K | Add +6.8% |
| BDC Belden Inc. | 0.49% | 4,559 | $547K | Add +23.3% |
| CRM Salesforce Inc. | 0.49% | 3,488 | $546K | New |
| SKYW Skywest Inc. | 0.49% | 5,492 | $546K | Add +6.8% |
| OSIS Osi Systems Inc. | 0.49% | 2,485 | $543K | New |
| COLL Collegium Pharmaceutical Inc. | 0.48% | 14,970 | $542K | Add +10.3% |
| EPAM Epam Systems Inc. | 0.48% | 6,794 | $539K | New |
| CARS Cars.com Inc. | 0.48% | 48,984 | $536K | New |
| ZM Zoom Communications Inc. | 0.48% | 6,205 | $536K | Add +3.1% |
| CRUS Cirrus Logic Inc. | 0.48% | 3,598 | $534K | Add +6.9% |
| GEN Gen Digital Inc. | 0.48% | 21,418 | $533K | Reduce -5.3% |
| AVT Avnet Inc. | 0.48% | 5,994 | $532K | Reduce -14.6% |
| EBF Ennis Inc. | 0.48% | 25,020 | $532K | Add +13.6% |
| NTAP Netapp Inc. | 0.47% | 3,425 | $530K | Reduce -24.2% |
| IDT Idt Corp. Class B | 0.47% | 9,112 | $530K | No change |
| TILE Interface Inc. | 0.47% | 14,744 | $528K | Reduce -21.7% |
| R Ryder System Inc. | 0.47% | 1,999 | $527K | Reduce -17.4% |
| BUSE First Busey Corp. | 0.47% | 17,770 | $524K | No change |
| VNT Vontier Corp. | 0.47% | 18,020 | $523K | Add +46.1% |
| ANIP Ani Pharmaceuticals Inc. | 0.46% | 6,275 | $519K | New |
| SNX TD Synnex Corp. | 0.46% | 1,943 | $519K | Reduce -26.4% |
| INGM Ingram Micro Holding Corp. | 0.46% | 18,880 | $518K | Reduce -6.5% |
| CON Concentra Group Holdings Par | 0.46% | 17,285 | $514K | Reduce -13.8% |
| THC Tenet Healthcare Corp. | 0.46% | 2,748 | $514K | Add +22.8% |
| MAN Manpowergroup Inc. | 0.46% | 15,211 | $514K | Reduce -12.9% |
| UHS Universal Health Services-B | 0.46% | 3,448 | $513K | Add +44.0% |
| PAYC Paycom Software Inc. | 0.46% | 4,067 | $511K | New |
| WMK Weis Markets Inc. filed as WEIS MKTS INC | 0.46% | 6,523 | $511K | New |
| MTCH Match Group Inc. | 0.46% | 13,406 | $510K | Reduce -9.0% |
| IMKTA Ingles Markets Inc. Class A | 0.46% | 5,745 | $509K | Add +16.6% |
| ARW Arrow Electronics Inc. | 0.45% | 2,380 | $508K | Reduce -20.8% |
| NGVC Natural Grocers BY Vitamin C | 0.45% | 16,303 | $506K | Add +8.1% |
| CI The Cigna Group | 0.45% | 1,823 | $503K | Add +9.9% |
| CFFN Capitol Federal Financial Inc. | 0.45% | 58,965 | $502K | No change |
| SIRI Sirius XM Holdings Inc. | 0.45% | 16,982 | $502K | Reduce -9.8% |
| HOPE Hope Bancorp Inc. | 0.45% | 36,654 | $501K | No change |
| CNOB Connectone Bancorp Inc. | 0.45% | 14,902 | $498K | Reduce -9.0% |
| BANC Banc of California Inc. | 0.45% | 24,355 | $498K | No change |
| WSBC Wesbanco Inc. | 0.44% | 12,739 | $497K | No change |
| BBT Beacon Financial Corp. | 0.44% | 16,319 | $497K | Add +7.2% |
| DV Doubleverify Holdings Inc. | 0.44% | 45,053 | $488K | Add +0.6% |
| VLY Valley National Bancorp | 0.44% | 33,334 | $488K | No change |
| NATR Natures Sunshine Prods Inc. | 0.44% | 22,376 | $488K | Add +37.5% |
| KFY Korn Ferry | 0.44% | 7,310 | $487K | Reduce -10.2% |
| FRME First Merchants Corp. | 0.44% | 11,139 | $487K | No change |
| RNST Renasant Corp. | 0.43% | 11,430 | $486K | No change |
| PB Prosperity Bancshares Inc. | 0.43% | 6,644 | $485K | No change |
| LOCO El Pollo Loco Holdings Inc. | 0.43% | 28,598 | $485K | Reduce -2.9% |
| EVER Everquote Inc. Class A | 0.43% | 20,316 | $483K | Reduce -28.1% |
| ACEL Accel Entertainment Inc. | 0.43% | 38,046 | $480K | No change |
| HPQ HP Inc. | 0.43% | 21,703 | $476K | Reduce -7.0% |
| FNB FNB Corp. | 0.42% | 24,888 | $475K | No change |
| DOX Amdocs Ltd. | 0.42% | 9,183 | $464K | Add +35.0% |
| INVA Innoviva Inc. | 0.41% | 20,366 | $463K | No change |
| VZ Verizon Communications Inc. | 0.41% | 10,917 | $462K | Add +17.5% |
| DLX Deluxe Corp. | 0.41% | 19,341 | $462K | New |
Portfolio Sells Q1 2026 → Q2 2026
| MELI MercadoLibre Inc. | Sold out | 0.00% | −2.71 |
| INTC Intel Corp. | Sold out | 0.00% | −2.09 |
| QQQE Dirx Nasdaq-100EQ Wi ETF-Usd | Sold out | 0.00% | −2.06 |
| NVDA Nvidia Corp. | Sold out | 0.00% | −1.97 |
| DHR Danaher Corp. | Sold out | 0.00% | −1.85 |
| LITE Lumentum Holdings Inc. | Sold out | 0.00% | −1.60 |
| GTLB Gitlab Inc. Class A | Sold out | 0.00% | −1.44 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -16.7% | 4.73% | −1.17 |
| TER Teradyne Inc. | Reduce -51.1% | 1.88% | −0.85 |
| AMAT Applied Materials Inc. | Reduce -55.9% | 2.43% | −0.59 |
| IIIN Insteel Industries Inc. | Sold out | 0.00% | −0.52 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.52 |
| T AT&T Inc. | Sold out | 0.00% | −0.49 |
| HUM Humana Inc. | Sold out | 0.00% | −0.49 |
| AKAM Akamai Technologies Inc. | Sold out | 0.00% | −0.49 |
| GTM Zoominfo Technologies Inc. | Sold out | 0.00% | −0.48 |
| PGC Peapack Gladstone Finl Corp. | Sold out | 0.00% | −0.48 |
| DIOD Diodes Inc. | Sold out | 0.00% | −0.48 |
| CTSH Cognizant Tech Solutions-A | Sold out | 0.00% | −0.47 |
| VITL Vital Farms Inc. | Sold out | 0.00% | −0.47 |
| RIGL Rigel Pharmaceuticals Inc. | Sold out | 0.00% | −0.46 |
| FLEX Flex Ltd. | Sold out | 0.00% | −0.45 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.45 |
| PLXS Plexus Corp. | Sold out | 0.00% | −0.45 |
| JBSS John B. Sanfilippo & Son Inc. | Sold out | 0.00% | −0.44 |
| MKSI MKS Inc. | Sold out | 0.00% | −0.44 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.43 |
| QCOM Qualcomm Inc. | Sold out | 0.00% | −0.42 |
| PRGS Progress Software Corp. | Sold out | 0.00% | −0.41 |
| POR Portland General Electric Co. | Sold out | 0.00% | −0.39 |
| KLAC KLA Corp. | Reduce -52.6% | 2.00% | −0.38 |
| MU Micron Technology Inc. | Sold out | 0.00% | −0.38 |
| TASK Taskus Inc. Class A | Sold out | 0.00% | −0.32 |
| ES Eversource Energy | Reduce -16.1% | 0.32% | −0.10 |
| KFY Korn Ferry | Reduce -10.2% | 0.44% | −0.10 |
| LEA Lear Corp. | Reduce -14.7% | 0.37% | −0.08 |
| BYD Boyd Gaming Corp. | Reduce -10.4% | 0.40% | −0.08 |
| FSLR First Solar Inc. | Reduce -18.9% | 0.39% | −0.08 |
| MAN Manpowergroup Inc. | Reduce -12.9% | 0.46% | −0.07 |
| PHIN Phinia Inc. | Reduce -18.1% | 0.39% | −0.07 |
| R Ryder System Inc. | Reduce -17.4% | 0.47% | −0.04 |
| HPQ HP Inc. | Reduce -7.0% | 0.43% | −0.04 |
| MHK Mohawk Industries Inc. | Reduce -14.2% | 0.40% | −0.04 |
| INGM Ingram Micro Holding Corp. | Reduce -6.5% | 0.46% | −0.02 |
| EVER Everquote Inc. Class A | Reduce -28.1% | 0.43% | −0.02 |
| HVT Haverty Furniture | Reduce -7.3% | 0.41% | −0.02 |
| TILE Interface Inc. | Reduce -21.7% | 0.47% | −0.01 |
| MTCH Match Group Inc. | Reduce -9.0% | 0.46% | −0.01 |
| CNOB Connectone Bancorp Inc. | Reduce -9.0% | 0.45% | −0.01 |
| NTAP Netapp Inc. | Reduce -24.2% | 0.47% | −0.01 |
Portfolio Buys Q1 2026 → Q2 2026
| TSM Taiwan Semiconductor-SP ADR | New | 3.16% | +3.16 |
| SE Sea Ltd.-ADR | New | 2.43% | +2.43 |
| RGEN Repligen Corp. | New | 2.29% | +2.29 |
| DASH DoorDash Inc. Class A | New | 2.16% | +2.16 |
| ADI Analog Devices Inc. | New | 2.13% | +2.13 |
| SHOP Shopify Inc. Class A | New | 2.05% | +2.05 |
| AMZN Amazon.com Inc. | Add +28.8% | 4.01% | +0.86 |
| TAN Invesco Solar ETF | Add +50.0% | 2.86% | +0.78 |
| MCO Moody's Corp. | Add +32.1% | 3.75% | +0.58 |
| CXT Crane NXT Co. | New | 0.56% | +0.56 |
| TMO Thermo Fisher Scientific Inc. | Add +30.7% | 4.10% | +0.54 |
| QLYS Qualys Inc. | New | 0.54% | +0.54 |
| NSIT Insight Enterprises Inc. | New | 0.53% | +0.53 |
| RNG Ringcentral Inc. Class A | New | 0.53% | +0.53 |
| CCSI Consensus Cloud Solution | New | 0.53% | +0.53 |
| GDDY GoDaddy Inc. Class A | New | 0.52% | +0.52 |
| FIVN FIVE9 Inc. | New | 0.52% | +0.52 |
| BLKB Blackbaud Inc. | New | 0.51% | +0.51 |
| PLAB Photronics Inc. | New | 0.50% | +0.50 |
| CNXN PC Connection Inc. | New | 0.50% | +0.50 |
| CASS Cass Information Systems Inc. | New | 0.50% | +0.50 |
| CRM Salesforce Inc. | New | 0.49% | +0.49 |
| OSIS Osi Systems Inc. | New | 0.49% | +0.49 |
| EPAM Epam Systems Inc. | New | 0.48% | +0.48 |
| CARS Cars.com Inc. | New | 0.48% | +0.48 |
| ANIP Ani Pharmaceuticals Inc. | New | 0.46% | +0.46 |
| PAYC Paycom Software Inc. | New | 0.46% | +0.46 |
| WMK Weis Markets Inc. | New | 0.46% | +0.46 |
| DLX Deluxe Corp. | New | 0.41% | +0.41 |
| MCS Marcus Corporation | New | 0.41% | +0.41 |
| PCG P G & E Corp. | New | 0.39% | +0.39 |
| V Visa Inc. Class A | Add +11.0% | 4.79% | +0.39 |
| META Meta Platforms Inc. Class A | Add +25.6% | 3.22% | +0.20 |
| CDW CDW Corp. | Add +16.3% | 0.52% | +0.07 |
| EEFT Euronet Worldwide Inc. | Add +18.3% | 0.52% | +0.06 |
| DBD Diebold Nixdorf Inc. | Add +14.6% | 0.50% | +0.05 |
| VMD Viemed Healthcare Inc. | Add +3.7% | 0.50% | +0.05 |
| BDC Belden Inc. | Add +23.3% | 0.49% | +0.05 |
| NGVC Natural Grocers BY Vitamin C | Add +8.1% | 0.45% | +0.05 |
| PLUS Eplus Inc. | Add +15.8% | 0.50% | +0.05 |
| CARG Cargurus Inc. | Add +26.5% | 0.51% | +0.04 |
| WEX Wex Inc. | Add +36.3% | 0.51% | +0.04 |
| CPAY Corpay Inc. | Add +8.4% | 0.49% | +0.03 |
| NATR Natures Sunshine Prods Inc. | Add +37.5% | 0.44% | +0.03 |
| ADBE Adobe Inc. | Add +44.7% | 0.51% | +0.03 |
| THC Tenet Healthcare Corp. | Add +22.8% | 0.46% | +0.02 |
| IBEX Ibex Ltd. | Add +6.8% | 0.49% | +0.02 |
| COLL Collegium Pharmaceutical Inc. | Add +10.3% | 0.48% | +0.02 |
| UHS Universal Health Services-B | Add +44.0% | 0.46% | +0.01 |
| VNT Vontier Corp. | Add +46.1% | 0.47% | +0.01 |