ARGAN INC

Ticker: AGX CUSIP: 04010E109 Class: Common Stock

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

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

Q1 2014

Shares 8,979 Value ($000) $267 Avg Close $21.60 Range $19.91 - $23.12

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	8,979	$267	$21.60	$19.91 - $23.12