FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

GRAHAM DONALD 		2. Issuer Name and Ticker or Trading Symbol

Graham Holdings Co [ GHC ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__ X __ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

C/O GRAHAM HOLDINGS COMPANY, 1300 NORTH 17TH STREET 		3. Date of Earliest Transaction (MM/DD/YYYY)

8/2/2018
(Street)

ARLINGTON, VA 22209
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class B Common Stock                  3087   I   Revocable Trust  
Class B Common Stock                  46638   I   Trusts for Siblings   (1)
Class B Common Stock   8/2/2018     P    950   A $546.61   4750   I   Trusts for Children   (1)
Class B Common Stock   8/2/2018     P    410   A $549.5   5160   I   Trusts for Children   (1)
Class B Common Stock   8/3/2018     P    215   A $556.75   (3) 5375   I   Trusts for Children   (1)
Class B Common Stock   8/3/2018     P    50   A $557.5   5425   I   Trusts for Children   (1)
Class B Common Stock   8/3/2018     P    25   A $559.55   5450   I   Trusts for Children   (1)
Class B Common Stock   8/3/2018     P    150   A $561.55   5600   I   Trusts for Children   (1)
Class B Common Stock                  1044   I   Trusts for Children of Siblings   (1)
Class B Common Stock                  5000   I   Trust for Third Party   (1)
Class B Common Stock                  60   I   By spouse   (2)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Common Stock     (4)                    (4)   (4) Class B Common Stock     (4)   150469   D    
Class A Common Stock     (4)                    (4)   (4) Class B Common Stock     (4)   194505   I   Trusts for Children   (1)
Class A Common Stock     (4)                    (4)   (4) Class B Common Stock     (4)   178555   I   Trusts for Siblings   (1)
Class A Common Stock     (4)                    (4)   (4) Class B Common Stock     (4)   388225   I   Beneficiary of Trusts  
Class A Common Stock     (4)                    (4)   (4) Class B Common Stock     (4)   1800   I   Trusts for Children of Siblings   (1)

Explanation of Responses:
(1)  The reporting person is a trustee of the trust that owns the reported securities, but he is not a beneficiary of such trust. The reporting person disclaims beneficial ownership of the reported securities.
(2)  The reporting person disclaims beneficial ownership of the reported securities.
(3)  The price reported in Column 4 is a weighted average price. These shares were purchased for the Laura O'Shaughnessy 2012 Family Trust by Timothy O'Shaughnessy, a co-trustee, in multiple transactions at prices ranging from $556.55 to $556.95, inclusive. The reporting person undertakes to provide to Graham Holdings Company, any security holder of Graham Holdings Company, or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares purchased at each separate price within the range set forth in this footnote. The reporting person is a co-trustee of the trust that owns the reported securities, but he is not a beneficiary of such trust. The reporting person disclaims beneficial ownership of the reported securities.
(4)  Shares of Class A Common Stock are convertible into shares of Class B Common Stock at any time on a one-for-one basis and have no expiration date.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
GRAHAM DONALD
C/O GRAHAM HOLDINGS COMPANY
1300 NORTH 17TH STREET
ARLINGTON, VA 22209 		X X


Signatures
/s/ Nicole M. Maddrey for Donald E. Graham 8/6/2018
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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