GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

MERCER GLOBAL ADVISORS INC /ADV's Holding History (CIK: 0000853758)

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

Q4 2025

Shares 21,437 Value ($000) $104 Avg Close $4.89 Range $4.25 - $5.86

Q3 2025

Shares 17,159 Value ($000) $99 Avg Close $5.43 Range $3.50 - $6.31

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	21,437	$104	$4.89	$4.25 - $5.86
Q3 2025	17,159	$99	$5.43	$3.50 - $6.31