SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

Brevan Howard Capital Management LP's Holding History (CIK: 0001512857)

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

Q4 2025

Shares 22,633 Value ($000) $262 Avg Close $11.83 Range $9.67 - $13.90

Q3 2025

Shares 34,009 Value ($000) $456 Avg Close $13.74 Range $11.71 - $15.84

Q2 2025

Shares 18,910 Value ($000) $258 Avg Close $12.69 Range $10.07 - $14.46

Q1 2025

Shares 48,560 Value ($000) $610 Avg Close $11.76 Range $9.77 - $13.61

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	22,633	$262	$11.83	$9.67 - $13.90
Q3 2025	34,009	$456	$13.74	$11.71 - $15.84
Q2 2025	18,910	$258	$12.69	$10.07 - $14.46
Q1 2025	48,560	$610	$11.76	$9.77 - $13.61