SPANISH BROADCASTING SYS INC

Ticker: SBSAA CUSIP: 846425833 Class: CL A NEW

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

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

Q1 2014
Shares 12,614 Value ($000) $74 Avg Close $4.64 Range $3.25 - $6.41
Q4 2013
Shares 12,614 Value ($000) $42 Avg Close $3.90 Range $3.28 - $4.24