TUCOWS INC

Ticker: TCX CUSIP: 898697206 Class: Common Stock

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

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

Q1 2017

Shares 6,000 Value ($000) $306 Avg Close $45.85 Range $35.30 - $52.75

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	6,000	$306	$45.85	$35.30 - $52.75