WATERSHED ASSET MANAGEMENT, L.L.C. Information

ONE MARITIME PLAZA, SAN FRANCISCO, California, 94111, (415) 391-8900

Report Date: 06/30/2014

Position Statistics

Total Positions 27
New Positions 1
Increased Positions 4
Decreased Positions 14
Positions with Activity 18
Sold Out Positions 5
Total Mkt Value (in $ millions) 123

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

Sector Weighting

Basic Materials 21.69%
Capital Goods 7.75%
Conglomerates 5.33%
Consumer Cyclical 4.56%
Consumer/Non-Cyclical
Energy 10.52%
Financial 8.27%
Healthcare
Services 23.39%
Technology
Transportation
Utilities

27 Positions as of 06/30/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
AMERICAN RLTY CAP PPTYS INC COM 14,706 New 1,183,135
ERICKSON INC COM 9,564 -853 (8.19) 693,550
GRAPHIC PACKAGING HLDG CO COM 9,235 610 7.07 713,122
ANADARKO PETE CORP COM 8,234 -2,072 (20.1) 77,500
TRONOX LTD SHS CL A 7,945 -2,110 (20.99) 278,960
INTELSAT S A MAN CONV JR PFD 7,344 New 157,100
PLY GEM HLDGS INC COM 6,797 New 566,407
ENPRO INDS INC COM 6,789 511 8.15 102,240
CUSTOMERS BANCORP INC COM 6,571 (0) 354,799
AMERICAN INTL GROUP INC COM NEW 6,570 -554 (7.78) 118,600
REALOGY HLDGS CORP COM 6,130 416 7.28 154,768
NORTEK INC COM NEW 5,629 -2,774 (33.02) 73,569
TESORO CORP COM 4,749 -1,651 (25.79) 76,524
SILVER EAGLE ACQUISITION CORP UNIT 1 000018 4,658 New 450,000
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 3,636 New 151,573
CLEAR CHANNEL OUTDOOR HLDGS IN CL A 3,049 New 441,193
CLEARWATER PAPER CORP COM 2,792 -1,344 (32.49) 42,006
LIBERTY GLOBAL PLC SHS CL C 2,740 New 65,000
CBS OUTDOOR AMERS INC COM 2,661 2,661 New 86,996
LIBERTY GLOBAL PLC SHS CL A 2,230 -612 (21.54) 51,000