Grandmaster Capital Management LLC

Q1 2015 13F Holdings Report, Stock Holdings

Signature - Title: Jeffrey Coddington - CFO and COO
Location: San Francisco, CA
Holdings as of: 31 Mar 2015
Value $: $160,625,000
Num holdings: 13
Filing time: 07 May 2015, 17:12:12 UTC
Form type: 13F-HR
Description: All US holdings of this investor are reported in this report. Top holdings included HHC, ELV, MSFT, MTN, and WFC.
Previous filing: Q4 2014 - 11 Feb 2015
SEC: View on sec.gov
Options Holdings: Showing stock holdings, see here for options holdings

Sym	Weight	Trade Impact	Company	Class	Share Change	Activity	Value Change $	Value $	* Price $	Shares	Principal

Filing 2015 Q1 compared to 2014 Q4 by default. Changes are calculated vs the previous SEC filing.

Compare Q1 2015 to

* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.

Person Signing this Report on Behalf of Reporting Manager:

Name	Title	City, State	Date
Jeffrey Coddington	CFO and COO	San Francisco, California	07 May 2015