The Capital Management holds 7.07M Gray Television shares (GTN)

Rhea-AI Filing Summary

Gray Television, Inc. amendment to a Schedule 13G/A discloses that The Capital Management Corporation beneficially owns 7,070,668 shares of Common Stock, representing 7.6% of the class as reported with a 06/30/2026 reference. The filing lists 6,999,668 shares as sole voting power and 7,070,668 as sole dispositive power. The form is signed by Pamela C. Simms, Compliance Officer, on 07/06/2026.

Insights

Corporate Governance Analyst

Large passive ownership stake disclosed by an institutional holder.

The filing shows The Capital Management Corporation reports 7,070,668 shares beneficially owned, equal to 7.6% of Gray Television's common stock as of 06/30/2026. The holder reports sole voting and dispositive power for the majority of that stake.

This amendment formalizes ownership reporting and clarifies voting/dispositive authority. Future filings may show changes if the holder trades; subsequent disclosures would update percentages and share counts.

Key Figures

Filing type: Schedule 13G/A Beneficially owned: 7,070,668 shares Percent of class: 7.6% +2 more

5 metrics

Filing type Schedule 13G/A Amendment disclosing beneficial ownership

Beneficially owned 7,070,668 shares Amount beneficially owned reported as of <date>06/30/2026</date>

Percent of class 7.6% Percent of common stock represented by reported holdings

Sole voting power 6,999,668 shares Shares with sole power to vote listed in Item 4(c)(i)

Sole dispositive power 7,070,668 shares Shares with sole power to dispose listed in Item 4(c)(iii)

Key Terms

Schedule 13G/A, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"Amendment to Schedule 13G/A discloses beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned financial

"Amount beneficially owned: 7,070,668 (b) Percent of class: 7.6 %"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Sole power to dispose or to direct the disposition of: 7,070,668"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/06/2026 - 02:17 PM Accepted by SEC EDGAR 07/06/2026 - 02:16 PM Learn about SEC filing dates

FAQ

What stake does The Capital Management Corporation report in Gray Television (GTN)?

The filer reports 7,070,668 shares, representing 7.6% of Gray Television's common stock, with the ownership reference dated 06/30/2026 and the amendment signed on 07/06/2026.

Who filed the Schedule 13G/A for GTN and when was it signed?

The Schedule 13G/A was filed on behalf of The Capital Management Corporation and signed by Pamela C. Simms, Compliance Officer, on 07/06/2026, referencing ownership as of 06/30/2026.

How much voting power does The Capital Management report for GTN?

The filing lists 6,999,668 shares as sole voting power and 0 shares as shared voting power, indicating the filer reports primary voting control over the disclosed stake.

Does the filing show shared dispositive power for the reported GTN holdings?

No. The Schedule 13G/A reports 7,070,668 shares as sole dispositive power and 0 as shared dispositive power for The Capital Management Corporation.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Gray Television, Inc.

(Name of Issuer)

Common

(Title of Class of Securities)

389375106

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 389375106

1

Names of Reporting Persons

The Capital Management Corporation

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

VIRGINIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,999,668.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,070,668.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,070,668.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

7.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Gray Television, Inc.
(b)	Address of issuer's principal executive offices: 4370 Peachtree Road, NE, Suite 400, Atlanta, GA 30319
Item 2.
(a)	Name of person filing: Pamela C. Simms, Compliance Officer The Capital Management Corporation
(b)	Address or principal business office or, if none, residence: 4101 Cox Road, Suite 110 Glen Allen, VA 23060
(c)	Citizenship: Virginia
(d)	Title of class of securities: Common
(e)	CUSIP No.: 389375106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 7,070,668
(b)	Percent of class: 7.6 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 6,999,668
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 7,070,668
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Capital Management Corporation

Signature:	Pamela Simms
Name/Title:	Compliance Officer
Date:	07/06/2026