ALLIANCE DATA SYSTEMS CORP

Ticker: BFH CUSIP: 018581108 Class: Common Stock

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

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

Q4 2013

Shares 1,664 Value ($000) $437 Avg Close $164.88 Range $144.55 - $182.18

Q3 2013

Shares 1,578 Value ($000) $334 Avg Close $136.89 Range $118.07 - $151.66

Q2 2013

Shares 1,578 Value ($000) $286 Avg Close $118.19 Range $105.32 - $127.74

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	1,664	$437	$164.88	$144.55 - $182.18
Q3 2013	1,578	$334	$136.89	$118.07 - $151.66
Q2 2013	1,578	$286	$118.19	$105.32 - $127.74