Watershed Asset Management LLC Investment Changes in Q3
This analysis details the significant purchases and sales made by Watershed Asset Management, L.L.C., a large-cap focused fund, during the third quarter of 2026.
In this filing dated Watershed Asset Management, L.L.C.'s portfolio report for Q3 2026 (as of June 30th), we observe notable shifts in holdings. The fund appears to have focused on adding positions while strategically exiting some older ones.
Several companies saw new additions or significant increases in their shareholdings during the quarter:
- TSM: Taiwanese Semiconductor Manufacturing Co. (TSM) experienced a substantial increase, with shares rising by 100% (7400 new shares added). This positions TSM at 3.16% of the portfolio.
- RGEN: REPLIGEN Corp. (RGEN) was newly acquired with a 100% increase in shares (18,800 added). It now holds 2.29%.
- TAN: Invesco Exchange Traded Fund on Emerging Markets Debt II (TAN) saw its share count increase by 50% (18,000 added). It holds 2.86%.
- DASH: DoorDash Corp. (DASH) was newly acquired with a 100% increase (13,100 added). It holds 2.16%.
- ADI: Analog Devices Inc. (ADI) was newly acquired or significantly increased.
The fund also made notable sales during the quarter:
- AMAT: Applied Materials Inc. (AMAT) was sold, with a 100% decrease in shares (all 9250 were disposed). This exit removes it from the top holdings list.
- TER: T. Rowe Price Growth Stock Fund (TER) was sold, with a 100% decrease in shares (all 27596 were disposed). This exit removes it from the top holdings list.
Watershed Asset Management's portfolio is dominated by large-cap stocks and ETFs. The fund holds 114 positions, with its largest allocations being in Technology (30.64%) and Financial Services (14.48%). The top five holdings account for a combined 21.37% of the portfolio.
The fund's activity this quarter includes both new positions initiated (like TSM, RGEN, DASH) and substantial increases in existing ones (like TAN). Conversely, it disposed of two significant holdings: AMAT and TER. This indicates a dynamic approach to managing its large-cap concentrated portfolio.
For further details on Watershed Asset Management's Q3 2026 activities or specific stock movements like the new position in TSM, you can refer directly to their latest filing. The fund continues to demonstrate its focus on large-cap technology and healthcare sectors, while also incorporating select ETFs.