CIK: 0001706457
Total reported value
$215.6M
Reporting period: 2018-12-31 · Number of holdings: 294
Watermark Asset Management, Inc. disclosed 294 holdings in its latest 13F filing for the period ending 2018-12-31, with total reported value of $215.6M and a quarterly turnover rate of 15.7%.
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Watermark Asset Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.078 — mathematically equivalent to about 13 equally-sized positions, well below its 294 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.68), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 3% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add VEU
+158.8% $2.6M
Trim IVV
-2.5% -$7.7M
Trim VEA
-4.0% -$3.6M
Trim IJH
-0.8% -$2.8M
Trim IJR
+0.2% -$2.3M
Add EMB
+35.2% $642.0K
Showing top 200 holdings (of 294 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 18.50% | -1.17% | -2.46% | |
| 2 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 14.94% | +0.27% | -10.06% | |
| 3 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 7.85% | -0.65% | -4.05% | |
| 4 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 5.79% | -0.52% | -0.82% | |
| 5 | SCHB | Schwab US Broad Market ETF | ETF-Other | 5.31% | -0.33% | -1.34% | |
| 6 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 4.13% | -0.49% | +0.23% | |
| 7 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 3.56% | +0.03% | -3.17% | |
| 8 | SCHZ | Schwab US Aggregate Bond ETF | ETF-Other | 3.22% | +0.25% | -4.17% | |
| 9 | SCHF | Schwab Intl Equity ETF | ETF-Other | 2.45% | -0.10% | +1.26% | |
| 10 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 2.45% | -0.05% | +2.32% | |
| 11 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 2.18% | +1.32% | +158.76% | |
| 12 | SPTM | Ss Spdr P S&p 1500 Comp ETF | ETF-Other | 2.00% | -0.06% | +1.57% | |
| 13 | SCHX | Schwab US Large-cap ETF | ETF-Other | 1.86% | -0.17% | -4.88% | |
| 14 | NEAR | Ishares Sh Dba ETF Usd INC | ETF-Other | 1.85% | +0.25% | +3.57% | |
| 15 | SPSB | Ss Spdr P St C CORP ETF | ETF-Other | 1.68% | — | +0.90% | |
| 16 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 1.62% | -0.01% | -1.46% | |
| 17 | IYY | Ishares Dow Jones U.s. ETF | ETF-Other | 1.56% | -0.03% | +1.94% | |
| 18 | LQD | Ishr Ibx Usd Invgd Cb Etf-ui | ETF-Corp Bonds | 1.55% | +0.11% | -2.16% | |
| 19 | SPAB | Ss Spdr P Agg Bond ETF | ETF-Other | 1.39% | +0.08% | -5.41% | |
| 20 | EMB | Ishares Jp Morgan Usd Emergi | ETF-Other | 1.28% | +0.40% | +35.24% | |
| 21 | IGIB | Ishares 5-10y Inv Grade CORP | ETF-Corp Bonds | 1.24% | — | +0.19% | |
| 22 | SCHE | Schwab Emrg Mrkts Eqty ETF | ETF-Other | 1.06% | +0.04% | +1.72% | |
| 23 | CWI | State Street Spdr Msci Acwi | ETF-Other | 1.04% | +0.23% | +31.38% | |
| 24 | SPDW | Ste Str Spdr Pt Dw EU ETF | ETF-Other | 0.66% | — | +3.65% | |
| 25 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 0.64% | — | +0.09% | |
| 26 | FLOT | Ishares Floating Rate Bond E | ETF-Other | 0.62% | — | +0.12% | |
| 27 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.59% | -0.07% | +0.40% | |
| 28 | XLK | Ss Technology Select Sector | ETF-Tech | 0.49% | -0.04% | +0.02% | |
| 29 | MBB | Ishares Mbs ETF | ETF-Other | 0.44% | — | +0.11% | |
| 30 | EFA | Ishares Msci Eafe ETF | ETF-Other | 0.44% | -0.08% | -13.11% | |
| 31 | DBEF | Xtrackers Msci Eafe Hedged E | ETF-Other | 0.43% | -0.01% | +2.69% | |
| 32 | MTUM | Ishares Msci USA Momentum Fa | ETF-Other | 0.43% | -0.02% | +0.64% | |
| 33 | AAPL | Apple INC | Stock-Tech | 0.42% | +0.07% | +52.65% | |
| 34 | USMV | Ishares Msci USA Min Vol Fac | ETF-Other | 0.38% | +0.02% | +1.04% | |
| 35 | CVX | Chevron CORP | Stock-Energy | 0.37% | — | -1.11% | |
| 36 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.34% | -0.02% | -0.61% | |
| 37 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 0.27% | +0.02% | +0.27% | |
| 38 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 0.25% | +0.08% | +54.31% | |
| 39 | VDE | Vanguard Energy ETF | ETF-Other | 0.21% | -0.05% | +0.58% | |
| 40 | MSFT | Microsoft CORP | Stock-Tech | 0.21% | — | +6.08% | |
| 41 | SRE | Sempra | Stock-Utilities | 0.19% | — | — | |
| 42 | SPEM | State Street Sp Ptf Em ETF | ETF-Other | 0.18% | — | +1.62% | |
| 43 | AOA | Ishares Core 80/20 Aggressiv | ETF-Other | 0.18% | — | +1.08% | |
| 44 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.16% | — | +11.44% | |
| 45 | ELV | Elevance Health INC | Stock-Healthcare | 0.15% | — | — | |
| 46 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.15% | — | +13.11% | |
| 47 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.14% | -0.01% | -4.42% | |
| 48 | AOR | Ishares Core 60/40 Balanced | ETF-Other | 0.11% | — | +0.97% | |
| 49 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.09% | — | -2.04% | |
| 50 | DSI | Ishares Esg Msci Kld 400 ETF | ETF-Other | 0.09% | +0.04% | +65.10% |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2018-12-31 | 294 | $215.6M | 16 | |
| 2018-09-30 | 245 | $241.8M | 8 | |
| 2018-06-30 | 252 | $235.6M | 7 | |
| 2018-03-31 | 243 | $240.9M | 10 | |
| 2017-12-31 | 256 | $240.0M | 9 | |
| 2017-09-30 | 249 | $230.4M | 8 | |
| 2017-06-30 | 255 | $222.2M | 7 | |
| 2017-03-31 | 261 | $212.2M | 0 |
Watermark Asset Management, Inc.'s most significant position changes for 2018-12-31: New buy: Abrdn Physical Silver Shares (SIVR); Sold out: Abrdn Physical Silver Shares ETF; New buy: Ishares National Muni Bond E (MUB); Sold out: Barclays Bank PLC (BACR 8.125 PERP 5); New buy: Xtrackers Msci Europe Hedged (DBEU).
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2018-12-31 | 2019-01-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-03 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-09 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-04-17 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-16 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-16 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-17 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-06-05 | 13F-HR | View on EDGAR |
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