GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

JS Capital Management LLC's Holding History (CIK: 0001562668)

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

Q1 2014

Shares 70,000 Value ($000) $726 Avg Close $11.35 Range $9.04 - $14.98

Q4 2013

Shares 40,000 Value ($000) $595 Avg Close $10.57 Range $6.88 - $15.17

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	70,000	$726	$11.35	$9.04 - $14.98
Q4 2013	40,000	$595	$10.57	$6.88 - $15.17