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) 67

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

Sector Weighting

Basic Materials 18.85%
Capital Goods 3.01%
Conglomerates 13.26%
Consumer Cyclical 10.41%
Consumer/Non-Cyclical
Energy 2.4%
Financial 10.79%
Healthcare
Services 17.66%
Technology
Transportation
Utilities

3 New Positions as of 03/31/2015

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
ALLY FINL INC COM 8,253 8,253 New 364,699
HORSEHEAD HLDG CORP COM 4,662 4,662 New 365,645
CUMULUS MEDIA INC CL A 3,050 3,050 New 1,234,906