FEDEX CORP

Ticker: FDX CUSIP: 31428X106 Class: COM

Zuckerman Investment Group, LLC's Holding History (CIK: 0001423296)

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

Q3 2014

Shares 45,229 Value ($000) $7,302 Avg Close $129.06 Range $123.24 - $139.36

Q2 2014

Shares 104,229 Value ($000) $15,778 Avg Close $118.51 Range $110.81 - $129.02

Q1 2014

Shares 151,482 Value ($000) $20,080 Avg Close $115.12 Range $108.60 - $122.34

Q4 2013

Shares 149,947 Value ($000) $21,558 Avg Close $112.11 Range $94.16 - $122.12

Q3 2013

Shares 151,133 Value ($000) $17,246 Avg Close $91.26 Range $82.44 - $100.14

Q2 2013

Shares 76,145 Value ($000) $7,506 Avg Close $81.95 Range $76.47 - $87.46

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	45,229	$7,302	$129.06	$123.24 - $139.36
Q2 2014	104,229	$15,778	$118.51	$110.81 - $129.02
Q1 2014	151,482	$20,080	$115.12	$108.60 - $122.34
Q4 2013	149,947	$21,558	$112.11	$94.16 - $122.12
Q3 2013	151,133	$17,246	$91.26	$82.44 - $100.14
Q2 2013	76,145	$7,506	$81.95	$76.47 - $87.46