MACYS INC

Ticker: M CUSIP: 55616P104 Class: Common Stock

DELPHI MANAGEMENT INC /MA/'s Holding History (CIK: 0000767684)

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

Q3 2016

Shares 13,694 Value ($000) $507 Avg Close $36.24 Range $31.02 - $40.98

Q2 2016

Shares 13,624 Value ($000) $458 Avg Close $35.81 Range $29.94 - $44.07

Q1 2016

Shares 14,890 Value ($000) $657 Avg Close $41.33 Range $34.33 - $45.50

Q4 2015

Shares 14,574 Value ($000) $510 Avg Close $43.33 Range $34.05 - $52.48

Q3 2015

Shares 39,501 Value ($000) $2,027 Avg Close $62.72 Range $49.72 - $73.61

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	13,694	$507	$36.24	$31.02 - $40.98
Q2 2016	13,624	$458	$35.81	$29.94 - $44.07
Q1 2016	14,890	$657	$41.33	$34.33 - $45.50
Q4 2015	14,574	$510	$43.33	$34.05 - $52.48
Q3 2015	39,501	$2,027	$62.72	$49.72 - $73.61