Teton Advisors’s Salem Media Group, Inc. Class A Common Stock SALM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2020 Q2	–	Sell	-100,000	Closed	-$86K	–	417
2020 Q1	$86K	Sell	100,000 -70,000	-41%	-$60.2K	0.01%	400
2019 Q4	$245K	Sell	170,000 -100,000	-37%	-$144K	0.02%	403
2019 Q3	$413K	Sell	270,000 -66,000	-20%	-$101K	0.04%	359
2019 Q2	$816K	Sell	336,000 -214,000	-39%	-$520K	0.08%	256
2019 Q1	$1.41M	Hold	550,000	–	–	0.14%	187
2018 Q4	$1.15M	Sell	550,000 -22,477	-4%	-$47K	0.13%	197
2018 Q3	$1.95M	Sell	572,477 -32,523	-5%	-$111K	0.17%	157
2018 Q2	$3.12M	Hold	605,000	–	–	0.28%	100
2018 Q1	$2.18M	Sell	605,000 -5,000	-0.8%	-$18K	0.21%	138
2017 Q4	$2.75M	Sell	610,000 -10,008	-2%	-$45K	0.25%	112
2017 Q3	$4.09M	Hold	620,008	–	–	0.38%	83
2017 Q2	$4.4M	Hold	620,008	–	–	0.43%	75
2017 Q1	$4.62M	Hold	620,008	–	–	0.46%	73
2016 Q4	$3.88M	Hold	620,008	–	–	0.39%	79
2016 Q3	$3.65M	Hold	620,008	–	–	0.32%	101
2016 Q2	$4.48M	Hold	620,008	–	–	0.4%	68
2016 Q1	$3.57M	Hold	620,008	–	–	0.33%	94
2015 Q4	$3.09M	Hold	620,008	–	–	0.28%	122
2015 Q3	$3.79M	Hold	620,008	–	–	0.29%	130
2015 Q2	$3.93M	Buy	620,008 +3,000	+0.5%	+$19K	0.27%	134
2015 Q1	$3.8M	Buy	617,008 +37,008	+6%	+$228K	0.26%	145
2014 Q4	$4.54M	Buy	580,000 +15,290	+3%	+$120K	0.3%	118
2014 Q3	$4.3M	Hold	564,710	–	–	0.31%	115
2014 Q2	$5.34M	Buy	564,710 +5,552	+1%	+$52.5K	0.35%	89
2014 Q1	$5.59M	Sell	559,158 -13,000	-2%	-$130K	0.38%	88
2013 Q4	$4.98M	Buy	572,158 +25,931	+5%	+$226K	0.35%	97
2013 Q3	$4.52M	Buy	546,227 +218,028	+66%	+$1.81M	0.35%	103
2013 Q2	$2.46M	Buy	+328,199	New	+$2.46M	0.21%	159