HILLTOP HOLDINGS INC

Ticker: HTH CUSIP: 432748101 Class: Common Stock

Pine River Capital Management L.P.'s Holding History (CIK: 0001288136)

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

Q1 2014

Shares 498,789 Value ($000) $11,867 Avg Close $23.77 Range $22.42 - $25.61

Q4 2013

Shares 535,307 Value ($000) $12,382 Avg Close $20.37 Range $17.09 - $24.05

Q3 2013

Shares 349,090 Value ($000) $6,457 Avg Close $16.82 Range $15.46 - $18.71

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	498,789	$11,867	$23.77	$22.42 - $25.61
Q4 2013	535,307	$12,382	$20.37	$17.09 - $24.05
Q3 2013	349,090	$6,457	$16.82	$15.46 - $18.71