ALLIANCE DATA SYSTEMS CORP

Ticker: BFH CUSIP: 018581108 Class: Common Stock

Global Endowment Management, LP's Holding History (CIK: 0001512237)

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

Q3 2019

Shares 2,174 Value ($000) $279 Avg Close $100.40 Range $84.50 - $113.18

Q2 2019

Shares 4,990 Value ($000) $699 Avg Close $107.33 Range $94.83 - $129.34

Q1 2019

Shares 8,700 Value ($000) $1,523 Avg Close $120.36 Range $103.81 - $128.75

Q4 2018

Shares 3,400 Value ($000) $511 Avg Close $138.21 Range $100.44 - $169.25

Q3 2018

Shares 2,370 Value ($000) $559 Avg Close $165.76 Range $151.40 - $175.81

Q2 2018

Shares 1,970 Value ($000) $459 Avg Close $149.80 Range $134.18 - $168.14

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2019	2,174	$279	$100.40	$84.50 - $113.18
Q2 2019	4,990	$699	$107.33	$94.83 - $129.34
Q1 2019	8,700	$1,523	$120.36	$103.81 - $128.75
Q4 2018	3,400	$511	$138.21	$100.44 - $169.25
Q3 2018	2,370	$559	$165.76	$151.40 - $175.81
Q2 2018	1,970	$459	$149.80	$134.18 - $168.14