Watershed Asset Management, L.L.C.
Reported holdings as of Q2 2026, from 12 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| VISA INC | V | $5.4M | 15,600 | +0.39pp | 3q | +11.0%+$531.8K | |
| VANGUARD INTL EQUITY INDEX F | VEU | $5.3M | 63,091 | -1.17pp | 8q | -16.7%-$1.1M | |
| THERMO FISHER SCIENTIFIC INC | TMO | $4.6M | 9,150 | +0.54pp | 3q | +30.7%+$1.1M | |
| AMAZON COM INC | AMZN | $4.5M | 18,800 | +0.86pp | 2q | +28.8%+$1.0M | |
| MOODYS CORP | MCO | $4.2M | 9,250 | +0.58pp | 2q | +32.1%+$1.0M | |
| ISHARES INC | EWW | $4.0M | 53,500 | -0.57pp | 3q | HELD | |
| META PLATFORMS INC | META | $3.6M | 6,387 | +0.20pp | 6q | +25.6%+$732.3K | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $3.5M | 7,400 | - | new | NEW | |
| INVESCO EXCH TRADED FD TR II | TAN | $3.2M | 54,000 | +0.78pp | 2q | +50.0%+$1.1M | |
| SEA LTD | SE | $2.7M | 28,300 | - | new | NEW | |
| APPLIED MATLS INC | AMAT | $2.7M | 3,750 | -0.59pp | 3q | -55.9%-$3.4M | |
| REPLIGEN CORP | RGEN | $2.6M | 18,800 | - | new | NEW | |
| ISHARES TR | INDA | $2.5M | 50,000 | -0.22pp | 6q | HELD | |
| DOORDASH INC | DASH | $2.4M | 13,100 | - | new | NEW | |
| ANALOG DEVICES INC | ADI | $2.4M | 6,000 | - | new | NEW | |
| SHOPIFY INC | SHOP | $2.3M | 20,100 | - | new | NEW | |
| KLA CORP | KLAC | $2.2M | 7,400 | -0.38pp | 2q | +374.4%+$1.8M | |
| WARBY PARKER INC | WRBY | $2.1M | 70,500 | +0.37pp | 3q | HELD | |
| TERADYNE INC | TER | $2.1M | 4,350 | -0.85pp | 2q | -51.1%-$2.2M | |
| CRANE NXT CO | CXT | $625.1K | 12,218 | - | new | NEW | |
| QUALYS INC | QLYS | $600.3K | 4,366 | - | new | NEW | |
| PAGAYA TECHNOLOGIES LTD | PGY | $598.6K | 32,800 | +0.06pp | 2q | -17.5%-$127.1K | |
| INSIGHT ENTERPRISES INC | NSIT | $596.7K | 4,899 | - | new | NEW | |
| RINGCENTRAL INC | RNG | $596.3K | 15,297 | - | new | NEW | |
| CONSENSUS CLOUD SOLUTIONS IN | CCSI | $594.8K | 15,592 | - | new | NEW | |
| CDW CORP | CDW | $585.1K | 4,160 | +0.07pp | 3q | +16.3%+$82.0K | |
| EURONET WORLDWIDE INC | EEFT | $581.9K | 7,950 | +0.06pp | 8q | +18.3%+$90.0K | |
| GODADDY INC | GDDY | $581.3K | 6,848 | - | new | NEW | |
| FIVE9 INC | FIVN | $579.3K | 27,171 | - | new | NEW | |
| AMKOR TECHNOLOGY INC | AMKR | $579.1K | 6,716 | +0.05pp | 3q | -33.3%-$288.9K | |
| DAVITA INC | DVA | $576.2K | 2,590 | +0.04pp | 2q | -13.8%-$91.9K | |
| BLACKBAUD INC | BLKB | $574.4K | 19,392 | - | new | NEW | |
| WEX INC | WEX | $570.4K | 4,043 | +0.04pp | 2q | +36.3%+$151.8K | |
| CARGURUS INC | CARG | $568.8K | 16,686 | +0.04pp | 2q | +26.5%+$119.1K | |
| ADOBE INC | ADBE | $565.6K | 2,759 | +0.03pp | 2q | +44.7%+$174.7K | |
| JABIL INC | JBL | $564.3K | 1,464 | +0.04pp | 3q | -13.2%-$85.6K | |
| VIEMED HEALTHCARE INC | VMD | $564.2K | 49,487 | +0.05pp | 3q | +3.7%+$20.2K | |
| PHOTRONICS INC | PLAB | $563.4K | 17,320 | - | new | NEW | |
| PC CONNECTION INC | CNXN | $560.6K | 7,680 | - | new | NEW | |
| DIEBOLD NIXDORF INC | DBD | $558.8K | 6,572 | +0.05pp | 3q | +14.6%+$71.1K | |
| EPLUS INC | PLUS | $557.6K | 6,699 | +0.05pp | 7q | +15.8%+$76.2K | |
| KEARNY FINL CORP MD | KRNY | $557.3K | 58,916 | +0.04pp | 3q | HELD | |
| CASS INFORMATION SYS INC | CASS | $554.6K | 10,807 | - | new | NEW | |
| CORPAY INC | CPAY | $553.2K | 1,660 | +0.03pp | 3q | +8.4%+$43.0K | |
| IBEX LTD | IBEX | $547.2K | 18,017 | +0.02pp | 2q | +6.8%+$34.6K | |
| BELDEN INC | BDC | $546.7K | 4,559 | +0.05pp | 3q | +23.3%+$103.2K | |
| SALESFORCE INC | CRM | $546.4K | 3,488 | - | new | NEW | |
| SKYWEST INC | SKYW | $545.5K | 5,492 | flat | 3q | +6.8%+$34.8K | |
| OSI SYSTEMS INC | OSIS | $543.5K | 2,485 | - | new | NEW | |
| COLLEGIUM PHARMACEUTICAL INC | COLL | $541.9K | 14,970 | +0.02pp | 6q | +10.3%+$50.4K | |
| EPAM SYS INC | EPAM | $539.1K | 6,794 | - | new | NEW | |
| CARS COM INC | CARS | $535.9K | 48,984 | - | new | NEW | |
| ZOOM COMMUNICATIONS INC | ZM | $535.6K | 6,205 | -0.02pp | 3q | +3.1%+$16.1K | |
| CIRRUS LOGIC INC | CRUS | $534.4K | 3,598 | -0.03pp | 3q | +6.9%+$34.5K | |
| GEN DIGITAL INC | GEN | $533.1K | 21,418 | +0.04pp | 5q | -5.3%-$29.9K | |
| AVNET INC | AVT | $532.4K | 5,994 | +0.03pp | 3q | -14.6%-$90.7K | |
| ENNIS INC | EBF | $531.7K | 25,020 | -0.01pp | 2q | +13.6%+$63.8K | |
| NETAPP INC | NTAP | $530.1K | 3,425 | -0.01pp | 3q | -24.2%-$169.2K | |
| IDT CORP | IDT | $530.0K | 9,112 | +0.01pp | 2q | HELD | |
| INTERFACE INC | TILE | $528.4K | 14,744 | -0.01pp | 3q | -21.7%-$146.4K | |
| RYDER SYS INC | R | $527.3K | 1,999 | -0.04pp | 3q | -17.4%-$111.3K | |
| FIRST BUSEY CORP | BUSE | $524.2K | 17,770 | flat | 3q | HELD | |
| VONTIER CORPORATION | VNT | $522.6K | 18,020 | +0.01pp | 3q | +46.1%+$164.9K | |
| ANI PHARMACEUTICALS INC | ANIP | $519.4K | 6,275 | - | new | NEW | |
| TD SYNNEX CORPORATION | SNX | $519.4K | 1,943 | flat | 3q | -26.4%-$186.3K | |
| INGRAM MICRO HLDG CORP | INGM | $517.9K | 18,880 | -0.02pp | 2q | -6.5%-$35.8K | |
| CONCENTRA GROUP HOLDINGS PAR | CON | $514.2K | 17,285 | +0.01pp | 3q | -13.8%-$82.3K | |
| TENET HEALTHCARE CORP | THC | $514.1K | 2,748 | +0.02pp | 3q | +22.8%+$95.6K | |
| MANPOWERGROUP INC WIS | MAN | $513.7K | 15,211 | -0.07pp | 2q | -12.9%-$75.9K | |
| UNIVERSAL HLTH SVCS INC | UHS | $512.7K | 3,448 | +0.01pp | 6q | +44.0%+$156.6K | |
| PAYCOM SOFTWARE INC | PAYC | $511.1K | 4,067 | - | new | NEW | |
| WEIS MKTS INC | WMK | $510.8K | 6,523 | - | new | NEW | |
| MATCH GROUP INC NEW | MTCH | $510.1K | 13,406 | -0.01pp | 4q | -9.0%-$50.7K | |
| INGLES MKTS INC | IMKTA | $508.9K | 5,745 | flat | 2q | +16.6%+$72.4K | |
| ARROW ELECTRS INC | ARW | $507.9K | 2,380 | +0.01pp | 3q | -20.8%-$133.6K | |
| NATURAL GROCERS BY VITAMIN | NGVC | $505.7K | 16,303 | +0.05pp | 2q | +8.1%+$37.9K | |
| THE CIGNA GROUP | CI | $502.6K | 1,823 | -0.01pp | 12q | +9.9%+$45.2K | |
| CAPITOL FED FINL INC | CFFN | $501.8K | 58,965 | +0.01pp | 3q | HELD | |
| SIRIUSXM HOLDINGS INC | SIRI | $501.6K | 16,982 | flat | 2q | -9.8%-$54.4K | |
| HOPE BANCORP INC | HOPE | $501.4K | 36,654 | +0.02pp | 3q | HELD | |
| CONNECTONE BANCORP INC | CNOB | $498.3K | 14,902 | -0.01pp | 3q | -9.0%-$49.4K | |
| BANC OF CALIFORNIA INC | BANC | $497.6K | 24,355 | flat | 3q | HELD | |
| WESBANCO INC | WSBC | $497.2K | 12,739 | -0.01pp | 3q | HELD | |
| BEACON FINANCIAL CORP. | BBT | $496.9K | 16,319 | -0.03pp | 3q | +7.2%+$33.2K | |
| DOUBLEVERIFY HLDGS INC | DV | $488.4K | 45,053 | flat | 2q | +0.6%+$2.9K | |
| VALLEY NATL BANCORP | VLY | $488.3K | 33,334 | +0.01pp | 3q | HELD | |
| NATURES SUNSHINE PRODS INC | NATR | $487.8K | 22,376 | +0.03pp | 2q | +37.5%+$133.0K | |
| KORN FERRY | KFY | $486.7K | 7,310 | -0.10pp | 3q | -10.2%-$55.5K | |
| FIRST MERCHANTS CORP | FRME | $486.7K | 11,139 | -0.01pp | 2q | HELD | |
| RENASANT CORP | RNST | $486.2K | 11,430 | +0.01pp | 7q | HELD | |
| PROSPERITY BANCSHARES INC | PB | $485.2K | 6,644 | -0.03pp | 3q | HELD | |
| EL POLLO LOCO HLDGS INC | LOCO | $485.0K | 28,598 | +0.01pp | 3q | -2.9%-$14.3K | |
| EVERQUOTE INC | EVER | $483.3K | 20,316 | -0.02pp | 3q | -28.1%-$188.5K | |
| ACCEL ENTERTAINMENT INC | ACEL | $479.8K | 38,046 | flat | 3q | HELD | |
| HP INC | HPQ | $476.2K | 21,703 | -0.04pp | 3q | -7.0%-$35.7K | |
| F N B CORP | FNB | $474.9K | 24,888 | -0.01pp | 8q | HELD | |
| AMDOCS LTD | DOX | $464.1K | 9,183 | -0.04pp | 2q | +35.0%+$120.3K | |
| INNOVIVA INC | INVA | $462.5K | 20,366 | -0.08pp | 3q | HELD | |
| VERIZON COMMUNICATIONS INC | VZ | $462.2K | 10,917 | -0.07pp | 3q | +17.5%+$68.8K | |
| DELUXE CORP MEDIUM TERM NTS | DLX | $461.9K | 19,341 | - | new | NEW | |
| MARCUS CORP DEL | MCS | $460.4K | 19,627 | - | new | NEW | |
| NEWS CORP NEW | NWSA | $458.8K | 18,478 | -0.07pp | 2q | HELD | |
| HAVERTY FURNITURE COS INC | HVT | $453.8K | 17,777 | -0.02pp | 2q | -7.4%-$36.0K | |
| MOHAWK INDS INC | MHK | $448.6K | 3,697 | -0.04pp | 2q | -14.2%-$74.4K | |
| BOYD GAMING CORP | BYD | $442.2K | 5,006 | -0.08pp | 3q | -10.4%-$51.2K | |
| PG&E CORP | PCG | $439.3K | 26,117 | - | new | NEW | |
| PHINIA INC | PHIN | $437.4K | 5,310 | -0.07pp | 3q | -18.1%-$96.9K | |
| FIRST SOLAR INC | FSLR | $436.5K | 1,850 | -0.08pp | 2q | -18.9%-$101.5K | |
| PERDOCEO ED CORP | PRDO | $418.8K | 13,087 | -0.08pp | 7q | +12.2%+$45.6K | |
| LEAR CORP | LEA | $418.1K | 3,119 | -0.08pp | 2q | -14.7%-$72.1K | |
| ACADEMY SPORTS & OUTDOORS IN | ASO | $413.0K | 8,762 | -0.10pp | 2q | +9.2%+$34.8K | |
| BUCKLE INC | BKE | $378.5K | 8,970 | -0.13pp | 2q | HELD | |
| POST HLDGS INC | POST | $371.8K | 4,213 | -0.10pp | 2q | HELD | |
| NATIONAL FUEL GAS CO | NFG | $360.7K | 4,672 | -0.09pp | 3q | +10.5%+$34.3K | |
| EVERSOURCE ENERGY | ES | $354.6K | 4,907 | -0.10pp | 2q | -16.1%-$67.9K | |
| ZUMIEZ INC | ZUMZ | $321.4K | 18,054 | -0.13pp | 3q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Business Services | $18.7M | 16.8% |
| Software & IT Services | $16.2M | 14.5% |
| Semiconductors & Electronics | $11.8M | 10.6% |
| Retail & Consumer | $10.2M | 9.1% |
| Instruments & Controls | $9.4M | 8.5% |
| Banks & Lending | $7.7M | 6.9% |
| Biotech & Pharma | $4.6M | 4.1% |
| Telecom & Media | $3.9M | 3.5% |
| Wholesale & Distribution | $3.2M | 2.9% |
| Healthcare Services | $2.7M | 2.4% |
| Medical Devices | $2.1M | 1.9% |
| Other sectors | $6.2M | 5.5% |
| Not classified | $15.0M | 13.4% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $111.8M | 116 | 27 | 37 | 31 | 29 | 36.6% | 45 |
| Q1 2026 | $96.5M | 118 | 39 | 31 | 30 | 39 | 35.8% | 36 |
| Q4 2025 | $107.1M | 118 | 97 | 16 | 5 | 96 | 44.0% | 48 |
| Q4 2023 | $86.1M | 117 | 30 | 31 | 31 | 33 | 57.2% | 33 |
| Q3 2023 | $84.9M | 120 | 42 | 32 | 31 | 38 | 54.9% | 30 |
| Q2 2023 | $80.7M | 116 | 39 | 23 | 30 | 40 | 58.7% | 28 |
| Q1 2023 | $82.5M | 117 | 42 | 30 | 34 | 40 | 60.0% | 35 |
| Q4 2022 | $78.9M | 115 | 40 | 24 | 37 | 45 | 61.9% | 34 |
| Q3 2022 | $76.7M | 120 | 42 | 28 | 32 | 40 | 54.8% | 45 |
| Q2 2022 | $80.8M | 118 | 23 | 49 | 24 | 29 | 54.4% | 36 |
| Q1 2022 | $99.6M | 124 | 26 | 32 | 41 | 24 | 51.1% | 43 |
| Q4 2021 | $111.0M | 122 | 0 | 0 | 0 | 0 | 56.8% | 42 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.