AXT INC

Ticker: AXTI CUSIP: 00246W103 Class: COM

Employees Retirement System of Texas's Holding History (CIK: 0001398739)

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

Q4 2013

Shares 450,000 Value ($000) $1,175 Avg Close $2.34 Range $2.10 - $2.64

Q3 2013

Shares 450,000 Value ($000) $1,053 Avg Close $2.50 Range $2.27 - $2.86

Q2 2013

Shares 450,000 Value ($000) $1,215 Avg Close $2.79 Range $2.50 - $3.04

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2013	450,000	$1,175	$2.34	$2.10 - $2.64
Q3 2013	450,000	$1,053	$2.50	$2.27 - $2.86
Q2 2013	450,000	$1,215	$2.79	$2.50 - $3.04