URBAN OUTFITTERS INC

Ticker: URBN CUSIP: 917047102 Class: EQTY

Baldwin Investment Management, LLC's Holding History (CIK: 0001346378)

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

Q1 2014

Shares 6,250 Value ($000) $228 Avg Close $36.44 Range $33.95 - $38.75

Q4 2013

Shares 6,250 Value ($000) $232 Avg Close $37.45 Range $35.00 - $40.45

Q3 2013

Shares 6,250 Value ($000) $230 Avg Close $41.06 Range $36.40 - $44.15

Q2 2013

Shares 6,250 Value ($000) $251 Avg Close $41.26 Range $38.11 - $44.96

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	6,250	$228	$36.44	$33.95 - $38.75
Q4 2013	6,250	$232	$37.45	$35.00 - $40.45
Q3 2013	6,250	$230	$41.06	$36.40 - $44.15
Q2 2013	6,250	$251	$41.26	$38.11 - $44.96