INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Vision Capital Management, Inc.'s Holding History (CIK: 0001417889)

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

Q4 2013

Shares 3,080 Value ($000) $578 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 3,080 Value ($000) $570 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 75,819 Value ($000) $14,490 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	3,080	$578	$106.40	$101.46 - $111.01
Q3 2013	3,080	$570	$111.55	$106.48 - $117.56
Q2 2013	75,819	$14,490	$118.94	$109.29 - $125.13