Philadelphia Financial Management of San Francisco’s Gannett GCI Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q3	–	Sell	-645,358	Closed	-$9.11M	–	42
2014 Q2	$9.11M	Sell	645,358 -273,461	-30%	-$3.86M	2.39%	20
2014 Q1	$13.8M	Buy	+918,819	New	+$13.8M	3.16%	17