GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

M.D. Sass, Inc.'s Holding History (CIK: 0000922940)

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

Q1 2014

Shares 369,000 Value ($000) $3,826 Avg Close $11.35 Range $9.04 - $14.98

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	369,000	$3,826	$11.35	$9.04 - $14.98