WALMART INC

Ticker: WMT CUSIP: 931142103 Class: Common Stock

Zuckerman Investment Group, LLC's Holding History (CIK: 0001423296)

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

Q1 2012
Shares 90,427 Value ($000) $5,534 Avg Close — Range —
Q4 2011
Shares 168,772 Value ($000) $10,086 Avg Close — Range —
Q3 2011
Shares 168,602 Value ($000) $8,750 Avg Close — Range —
Q2 2011
Shares 166,871 Value ($000) $8,868 Avg Close — Range —
Q1 2011
Shares 171,301 Value ($000) $8,916 Avg Close — Range —