GRAHAM HLDGS CO

Ticker: GHC CUSIP: 384637104 Class: Common Stock

CAPITAL FUND MANAGEMENT S.A.'s Holding History (CIK: 0001323645)

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

Q4 2019

Shares 800 Value ($000) $511 Avg Close $599.25 Range $575.16 - $625.62

Q2 2016

Shares 6,897 Value ($000) $3,376 Avg Close $442.70 Range $410.24 - $472.87

Q1 2016

Shares 9,407 Value ($000) $4,515 Avg Close $431.34 Range $384.29 - $481.83

Q4 2015

Shares 9,407 Value ($000) $4,562 Avg Close $491.36 Range $423.49 - $548.37

Q3 2015

Shares 2,000 Value ($000) $1,154 Avg Close $595.59 Range $510.07 - $650.41

Q2 2014

Shares 1,366 Value ($000) $981 Avg Close $368.14 Range $345.36 - $392.61

Q1 2014

Shares 3,066 Value ($000) $2,158 Avg Close $359.32 Range $325.70 - $396.88

Q4 2013

Shares 2,109 Value ($000) $1,399 Avg Close $339.79 Range $315.53 - $360.20

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2019	800	$511	$599.25	$575.16 - $625.62
Q2 2016	6,897	$3,376	$442.70	$410.24 - $472.87
Q1 2016	9,407	$4,515	$431.34	$384.29 - $481.83
Q4 2015	9,407	$4,562	$491.36	$423.49 - $548.37
Q3 2015	2,000	$1,154	$595.59	$510.07 - $650.41
Q2 2014	1,366	$981	$368.14	$345.36 - $392.61
Q1 2014	3,066	$2,158	$359.32	$325.70 - $396.88
Q4 2013	2,109	$1,399	$339.79	$315.53 - $360.20