ALLIANCE DATA SYSTEMS CORP

Ticker: BFH CUSIP: 018581108 Class: Common Stock

Ruffer LLP's Holding History (CIK: 0001426859)

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

Q4 2018

Shares 26,406 Value ($000) $3,963 Avg Close $138.21 Range $100.44 - $169.25

Q3 2018

Shares 29,603 Value ($000) $6,991 Avg Close $165.76 Range $151.40 - $175.81

Q2 2018

Shares 71,627 Value ($000) $16,704 Avg Close $149.80 Range $134.18 - $168.14

Q1 2018

Shares 132,962 Value ($000) $27,612 Avg Close $170.90 Range $143.68 - $194.05

Q4 2017

Shares 250,544 Value ($000) $63,491 Avg Close $161.71 Range $149.81 - $177.64

Q3 2017

Shares 518,515 Value ($000) $114,854 Avg Close $161.55 Range $145.38 - $184.39

Q2 2017

Shares 621,542 Value ($000) $159,593 Avg Close $172.65 Range $161.57 - $184.41

Q1 2017

Shares 569,177 Value ($000) $143,183 Avg Close $164.03 Range $148.35 - $173.98

Q4 2016

Shares 592,443 Value ($000) $136,114 Avg Close $150.52 Range $136.26 - $167.02

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	26,406	$3,963	$138.21	$100.44 - $169.25
Q3 2018	29,603	$6,991	$165.76	$151.40 - $175.81
Q2 2018	71,627	$16,704	$149.80	$134.18 - $168.14
Q1 2018	132,962	$27,612	$170.90	$143.68 - $194.05
Q4 2017	250,544	$63,491	$161.71	$149.81 - $177.64
Q3 2017	518,515	$114,854	$161.55	$145.38 - $184.39
Q2 2017	621,542	$159,593	$172.65	$161.57 - $184.41
Q1 2017	569,177	$143,183	$164.03	$148.35 - $173.98
Q4 2016	592,443	$136,114	$150.52	$136.26 - $167.02