ARCOS DORADOS HOLDINGS INC

Ticker: ARCO CUSIP: G0457F107 Class: SHS CLASS -A -

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

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

Q3 2016

Shares 20,459 Value ($000) $108 Avg Close $4.61 Range $3.94 - $5.18

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2016	20,459	$108	$4.61	$3.94 - $5.18