GRAND CANYON ED INC

Ticker: LOPE CUSIP: 38526M106 Class: COM

Empirical Finance, LLC's Holding History (CIK: 0001572838)

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

Q2 2017

Shares 23,002 Value ($000) $1,804 Avg Close $76.53 Range $68.77 - $83.00

Q1 2017

Shares 23,002 Value ($000) $1,647 Avg Close $62.10 Range $56.52 - $72.16

Q4 2016

Shares 25,205 Value ($000) $1,474 Avg Close $51.14 Range $39.68 - $61.80

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2017	23,002	$1,804	$76.53	$68.77 - $83.00
Q1 2017	23,002	$1,647	$62.10	$56.52 - $72.16
Q4 2016	25,205	$1,474	$51.14	$39.68 - $61.80