AMERICAN RES CORP

Ticker: AREC CUSIP: 02927U208 Class: CL A

Goelzer Investment Management, Inc.'s Holding History (CIK: 0001550057)

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

Q4 2025

Shares 13,522 Value ($000) $34 Avg Close $3.33 Range $2.08 - $7.11

Q3 2025

Shares 13,522 Value ($000) $37 Avg Close $1.71 Range $0.78 - $3.33

Q2 2025

Shares 13,522 Value ($000) $11 Avg Close $0.80 Range $0.38 - $1.68

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	13,522	$34	$3.33	$2.08 - $7.11
Q3 2025	13,522	$37	$1.71	$0.78 - $3.33
Q2 2025	13,522	$11	$0.80	$0.38 - $1.68