ADTRAN HOLDINGS INC

Ticker: ADTN CUSIP: 00486H105 Class: Common Stock

Graham Capital Management, L.P.'s Holding History (CIK: 0001315421)

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

Q4 2025

Shares 67,670 Value ($000) $588 Avg Close $8.68 Range $7.11 - $10.75

Q3 2025

Shares 56,485 Value ($000) $530 Avg Close $9.32 Range $7.95 - $10.64

Q2 2025

Shares 55,589 Value ($000) $499 Avg Close $7.98 Range $6.93 - $9.17

Q1 2025

Shares 78,652 Value ($000) $686 Avg Close $10.06 Range $8.30 - $12.44

Q4 2024

Shares 56,789 Value ($000) $473 Avg Close $7.38 Range $5.67 - $9.21

Q3 2024

Shares 41,140 Value ($000) $244 Avg Close $5.57 Range $4.62 - $6.92

Q2 2024

Shares 44,667 Value ($000) $235 Avg Close $5.10 Range $4.34 - $5.87

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	67,670	$588	$8.68	$7.11 - $10.75
Q3 2025	56,485	$530	$9.32	$7.95 - $10.64
Q2 2025	55,589	$499	$7.98	$6.93 - $9.17
Q1 2025	78,652	$686	$10.06	$8.30 - $12.44
Q4 2024	56,789	$473	$7.38	$5.67 - $9.21
Q3 2024	41,140	$244	$5.57	$4.62 - $6.92
Q2 2024	44,667	$235	$5.10	$4.34 - $5.87