AKEBIA THERAPEUTICS INC

Ticker: AKBA CUSIP: 00972D105 Class: COM

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

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

Q1 2016

Shares 50,000 Value ($000) $451 Avg Close $8.11 Range $7.02 - $12.74

Q4 2015

Shares 50,000 Value ($000) $646 Avg Close $10.20 Range $7.91 - $13.20

Q3 2015

Shares 50,000 Value ($000) $483 Avg Close $9.18 Range $5.91 - $14.20

Q2 2015

Shares 50,000 Value ($000) $515 Avg Close $8.53 Range $7.27 - $11.12

Q1 2015

Shares 50,000 Value ($000) $556 Avg Close $10.65 Range $8.47 - $13.90

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	50,000	$451	$8.11	$7.02 - $12.74
Q4 2015	50,000	$646	$10.20	$7.91 - $13.20
Q3 2015	50,000	$483	$9.18	$5.91 - $14.20
Q2 2015	50,000	$515	$8.53	$7.27 - $11.12
Q1 2015	50,000	$556	$10.65	$8.47 - $13.90