GRAY TELEVISION INC

Ticker: GTN CUSIP: 389375106 Class: Common Stock

AXIOM INVESTORS LLC /DE's Holding History (CIK: 0001109147)

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

Q2 2016

Shares 189,813 Value ($000) $2,059 Avg Close $11.80 Range $10.43 - $14.77

Q1 2016

Shares 280,976 Value ($000) $3,293 Avg Close $12.31 Range $9.95 - $16.26

Q4 2015

Shares 230,415 Value ($000) $3,756 Avg Close $15.66 Range $12.46 - $17.70

Q3 2015

Shares 66,000 Value ($000) $842 Avg Close $14.21 Range $10.38 - $18.07

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	189,813	$2,059	$11.80	$10.43 - $14.77
Q1 2016	280,976	$3,293	$12.31	$9.95 - $16.26
Q4 2015	230,415	$3,756	$15.66	$12.46 - $17.70
Q3 2015	66,000	$842	$14.21	$10.38 - $18.07