FRIEDMAN INDS INC

Ticker: FRD CUSIP: 358435105 Class: Common Stock

Ground Swell Capital, LLC's Holding History (CIK: 0001534450)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 99 Value ($000) $1 Avg Close $7.40 Range $7.00 - $7.79

Q2 2014

Shares 461 Value ($000) $4 Avg Close $7.37 Range $7.09 - $7.76

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	99	$1	$7.40	$7.00 - $7.79
Q2 2014	461	$4	$7.37	$7.09 - $7.76