MICROSOFT CORP

Ticker: MSFT CUSIP: 594918104 Class: Common Stock

ELKHORN PARTNERS LIMITED PARTNERSHIP's Holding History (CIK: 0000928400)

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

Q3 2014

Shares 4,800 Value ($000) $223 Avg Close $37.66 Range $34.56 - $40.29

Q2 2014

Shares 11,500 Value ($000) $480 Avg Close $33.96 Range $32.19 - $35.60

Q1 2014

Shares 12,500 Value ($000) $512 Avg Close $31.26 Range $28.73 - $34.69

Q4 2013

Shares 20,500 Value ($000) $767 Avg Close $30.02 Range $27.01 - $32.34

Q3 2013

Shares 27,500 Value ($000) $915 Avg Close $27.00 Range $25.36 - $29.79

Q2 2013

Shares 36,500 Value ($000) $1,261 Avg Close $26.70 Range $22.82 - $29.26

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	4,800	$223	$37.66	$34.56 - $40.29
Q2 2014	11,500	$480	$33.96	$32.19 - $35.60
Q1 2014	12,500	$512	$31.26	$28.73 - $34.69
Q4 2013	20,500	$767	$30.02	$27.01 - $32.34
Q3 2013	27,500	$915	$27.00	$25.36 - $29.79
Q2 2013	36,500	$1,261	$26.70	$22.82 - $29.26