PENSKE AUTOMOTIVE GRP INC

Ticker: PAG CUSIP: 70959W103 Class: Stock

ALPINE WOODS CAPITAL INVESTORS, LLC's Holding History (CIK: 0001226886)

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

Q4 2014

Shares 247,100 Value ($000) $12,125 Avg Close $45.64 Range $36.36 - $50.71

Q3 2014

Shares 233,500 Value ($000) $9,478 Avg Close $46.97 Range $40.56 - $51.44

Q2 2014

Shares 210,500 Value ($000) $10,420 Avg Close $45.63 Range $41.05 - $49.86

Q1 2014

Shares 210,500 Value ($000) $9,001 Avg Close $43.44 Range $39.78 - $47.08

Q4 2013

Shares 165,004 Value ($000) $7,781 Avg Close $42.73 Range $37.07 - $47.79

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	247,100	$12,125	$45.64	$36.36 - $50.71
Q3 2014	233,500	$9,478	$46.97	$40.56 - $51.44
Q2 2014	210,500	$10,420	$45.63	$41.05 - $49.86
Q1 2014	210,500	$9,001	$43.44	$39.78 - $47.08
Q4 2013	165,004	$7,781	$42.73	$37.07 - $47.79