BOYD GAMING CORP

Ticker: BYD CUSIP: 103304101 Class: Common Stock

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

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

Q4 2015

Shares 12,844 Value ($000) $255 Avg Close $18.02 Range $15.22 - $19.88

Q3 2015

Shares 13,837 Value ($000) $226 Avg Close $15.53 Range $13.87 - $16.90

Q2 2015

Shares 13,979 Value ($000) $209 Avg Close $13.25 Range $12.08 - $14.55

Q1 2015

Shares 10,472 Value ($000) $149 Avg Close $12.89 Range $11.07 - $14.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2015	12,844	$255	$18.02	$15.22 - $19.88
Q3 2015	13,837	$226	$15.53	$13.87 - $16.90
Q2 2015	13,979	$209	$13.25	$12.08 - $14.55
Q1 2015	10,472	$149	$12.89	$11.07 - $14.13