Waterstone Capital Management’s Cumulus Media Inc. Class A Common Stock CMLS Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-12,500	Closed	-$423K	–	25
2014 Q4	$423K	Buy	+12,500	New	+$423K	0.2%	22
2013 Q3	–	Sell	-56,235	Closed	-$1.53M	–	36
2013 Q2	$1.53M	Buy	+56,235	New	+$1.53M	0.14%	32