AIR T INC

Ticker: AIRT CUSIP: 009207101 Class: COM

SHEPHERD KAPLAN KROCHUK, LLC's Holding History (CIK: 0001218583)

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

Q3 2014

Shares 21,654 Value ($000) $282 Avg Close $8.03 Range $7.12 - $8.81

Q2 2014

Shares 26,154 Value ($000) $340 Avg Close $8.11 Range $7.56 - $8.87

Q1 2014

Shares 26,154 Value ($000) $316 Avg Close $7.96 Range $7.44 - $8.66

Q4 2013

Shares 26,154 Value ($000) $313 Avg Close $7.53 Range $7.17 - $8.12

Q3 2013

Shares 33,627 Value ($000) $378 Avg Close $7.03 Range $6.47 - $7.87

Q2 2013

Shares 51,127 Value ($000) $526 Avg Close $6.38 Range $5.82 - $6.99

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	21,654	$282	$8.03	$7.12 - $8.81
Q2 2014	26,154	$340	$8.11	$7.56 - $8.87
Q1 2014	26,154	$316	$7.96	$7.44 - $8.66
Q4 2013	26,154	$313	$7.53	$7.17 - $8.12
Q3 2013	33,627	$378	$7.03	$6.47 - $7.87
Q2 2013	51,127	$526	$6.38	$5.82 - $6.99