WATERSHED ASSET MANAGEMENT, L.L.C. Information

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

Report Date: 03/31/2015

Position Statistics

Total Positions 18
New Positions 3
Increased Positions 5
Decreased Positions 11
Positions with Activity 16
Sold Out Positions 6
Total Mkt Value (in $ millions) 65

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

Sector Weighting

Basic Materials 19.16%
Capital Goods 3.82%
Conglomerates 14.67%
Consumer Cyclical 10.63%
Consumer/Non-Cyclical
Energy 1.79%
Financial 10.6%
Healthcare
Services 16.06%
Technology
Transportation
Utilities

11 DECREASED Positions as of 03/31/2015

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
CUSTOMERS BANCORP INC COM 9,476 -2,395 (20.18) 352,401
GRACE W R & CO DEL NEW COM 8,090 -448 (5.25) 80,657
PLY GEM HLDGS INC COM 4,582 -803 (14.91) 388,667
OUTFRONT MEDIA INC COM 2,263 -5,165 (69.53) 89,663
KEY ENERGY SVCS INC COM 1,157 -810 (41.18) 642,846
CBS CORP (CLASS B) CL B -5,080 Sold Out 0
CLEAR CHANNEL OUTDOOR HLDGS IN CL A -411 Sold Out 0
GENERAL MTRS CO WT EXP 071016 -425 Sold Out 0
GENERAL MTRS CO WT EXP 071019 -285 Sold Out 0
GENERAL MTRS CO COM -655 Sold Out 0
TESORO CORP COM -5,541 Sold Out 0