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 19.29%
Capital Goods 3.9%
Conglomerates 14.52%
Consumer Cyclical 10.39%
Consumer/Non-Cyclical
Energy 1.86%
Financial 10.53%
Healthcare
Services 16.21%
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 8,209 8,209 New 364,699
HORSEHEAD HLDG CORP COM 4,432 4,432 New 365,645
CUMULUS MEDIA INC CL A 2,569 2,569 New 1,234,906