Sandler Capital Management’s Clearwater Paper CLW Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q2	–	Sell	-25,000	Closed	-$1.57M	–	149
2014 Q1	$1.57M	Sell	25,000 -15,000	-38%	-$940K	0.06%	122
2013 Q4	$2.1M	Sell	40,000 -25,000	-38%	-$1.31M	0.07%	117
2013 Q3	$3.11M	Hold	65,000	–	–	0.1%	101
2013 Q2	$3.06M	Buy	+65,000	New	+$3.06M	0.11%	102