SPRUCE PRIVATE INVESTORS, LLC Information

C/O SPRUCE CAPITAL MANAGEMENT, LLC, STAMFORD, Connecticut, 06901, (203) 428-2600

Report Date: 06/30/2014

Position Statistics

Total Positions 23
New Positions 6
Increased Positions 10
Decreased Positions 8
Positions with Activity 18
Sold Out Positions 3
Total Mkt Value (in $ millions) 327

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials
Capital Goods
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy
Financial 99.59%
Healthcare
Services
Technology
Transportation
Utilities

23 Positions as of 06/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
WISDOMTREE TR EUROPE SMCP DV 55,470 774 1.41 979,164
VANGUARD WORLD FDS CONSUM DIS ETF 49,010 11,026 29.03 440,735
WISDOMTREE TR JAPN HEDGE EQT 46,402 -18,297 (28.28) 919,026
SELECT SECTOR SPDR TR TECHNOLOGY 43,757 43,757 New 1,091,208
VANGUARD INTL EQUITY INDEX FD FTSE EUROPE ETF 40,227 -6,448 (13.82) 698,873
ISHARES US HLTHCR PR ETF 20,853 20,853 New 193,437
ISHARES MSCI GERMANY ETF 18,994 -306 (1.58) 655,419
ISHARES MSCI UK ETF 16,856 16,856 New 827,489
VANGUARD INDEX FDS TOTAL STK MKT 10,280 -9,347 (47.62) 99,653
SPDR S&P 500 ETF TR TR UNIT 6,821 478 7.53 34,191
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF 4,258 1,998 88.41 94,224
ISHARES MSCI BRZ CAP ETF 3,172 3,172 New 62,152
GLOBAL X FDS GLBX MSCI COLUM 3,144 3,144 New 155,315
MARKET VECTORS ETF TR RUSSIA ETF 3,032 3,032 New 119,130
UNITED STS COMMODITY INDEX FD COMM IDX FND 1,326 New 23,396
VANGUARD BD INDEX FD INC TOTAL BND MRKT 1,044 New 12,685
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US 686 -30 (4.23) 13,193
SPDR INDEX SHS FDS S&P INTL ETF 598 New 11,917
SPDR GOLD TRUST GOLD SHS 537 New 4,372
POWERSHARES QQQ TRUST UNIT SER 1 389 New 3,935