GRAND CANYON ED INC

Ticker: LOPE CUSIP: 38526M106 Class: COM

COMMERZBANK AKTIENGESELLSCHAFT /FI's Holding History (CIK: 0000852933)

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

Q2 2014

Shares 13,513 Value ($000) $621 Avg Close $45.02 Range $41.63 - $47.89

Q1 2014

Shares 13,964 Value ($000) $652 Avg Close $46.34 Range $41.71 - $51.12

Q4 2013

Shares 13,732 Value ($000) $602 Avg Close $43.87 Range $38.50 - $50.48

Q3 2013

Shares 13,838 Value ($000) $557 Avg Close $35.67 Range $32.33 - $40.80

Q2 2013

Shares 13,552 Value ($000) $437 Avg Close $28.81 Range $23.09 - $34.07

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2014	13,513	$621	$45.02	$41.63 - $47.89
Q1 2014	13,964	$652	$46.34	$41.71 - $51.12
Q4 2013	13,732	$602	$43.87	$38.50 - $50.48
Q3 2013	13,838	$557	$35.67	$32.33 - $40.80
Q2 2013	13,552	$437	$28.81	$23.09 - $34.07