SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

Ground Swell Capital, LLC's Holding History (CIK: 0001534450)

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

Q3 2014

Shares 57 Value ($000) $1 Avg Close $14.04 Range $12.36 - $15.55

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	57	$1	$14.04	$12.36 - $15.55