ALLIANCE DATA SYSTEMS CORP

Ticker: BFH CUSIP: 018581108 Class: Common Stock

Kerrisdale Advisers, LLC's Holding History (CIK: 0001569688)

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

Q1 2016

Shares 38,643 Value ($000) $8,501 Avg Close $150.81 Range $121.75 - $190.20

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	38,643	$8,501	$150.81	$121.75 - $190.20