GRAHAM HLDGS CO

Ticker: GHC CUSIP: 384637104 Class: Common Stock

Spark Investment Management LLC's Holding History (CIK: 0001554871)

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

Q3 2014

Shares 722 Value ($000) $505 Avg Close $381.66 Range $366.57 - $398.94

Q1 2014

Shares 3,500 Value ($000) $2,463 Avg Close $359.32 Range $325.70 - $396.88

Q4 2013

Shares 4,300 Value ($000) $2,852 Avg Close $339.79 Range $315.53 - $360.20

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	722	$505	$381.66	$366.57 - $398.94
Q1 2014	3,500	$2,463	$359.32	$325.70 - $396.88
Q4 2013	4,300	$2,852	$339.79	$315.53 - $360.20