WALMART INC

Ticker: WMT CUSIP: 931142103 Class: Common Stock

FIDUCIARY MANAGEMENT INC /WI/'s Holding History (CIK: 0000764532)

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

Q1 2014

Shares 7,528,621 Value ($000) $575,413 Avg Close $19.90 Range $19.06 - $20.96

Q4 2013

Shares 7,732,971 Value ($000) $608,507 Avg Close $20.35 Range $18.75 - $21.46

Q3 2013

Shares 7,696,124 Value ($000) $569,205 Avg Close $19.78 Range $18.93 - $20.59

Q2 2013

Shares 7,693,497 Value ($000) $573,089 Avg Close $19.98 Range $19.00 - $20.84

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	7,528,621	$575,413	$19.90	$19.06 - $20.96
Q4 2013	7,732,971	$608,507	$20.35	$18.75 - $21.46
Q3 2013	7,696,124	$569,205	$19.78	$18.93 - $20.59
Q2 2013	7,693,497	$573,089	$19.98	$19.00 - $20.84