AVALONBAY CMNTYS INC

Ticker: AVB CUSIP: 053484101 Class: COM

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q4 2025

Shares 39,011 Value ($000) $7,073 Avg Close $179.77 Range $165.15 - $191.98

Q3 2025

Shares 40,811 Value ($000) $7,883 Avg Close $191.17 Range $177.89 - $202.68

Q2 2025

Shares 41,011 Value ($000) $8,346 Avg Close $199.04 Range $175.56 - $210.66

Q1 2025

Shares 41,511 Value ($000) $8,909 Avg Close $209.57 Range $199.61 - $222.20

Q4 2024

Shares 41,511 Value ($000) $9,131 Avg Close $216.25 Range $206.96 - $229.18

Q3 2024

Shares 41,211 Value ($000) $9,283 Avg Close $205.33 Range $190.30 - $224.57

Q2 2024

Shares 41,411 Value ($000) $8,568 Avg Close $182.28 Range $167.23 - $198.13

Q1 2024

Shares 41,111 Value ($000) $7,629 Avg Close $167.99 Range $158.16 - $176.02

Q4 2023

Shares 41,111 Value ($000) $7,697 Avg Close $161.55 Range $148.53 - $178.96

Q3 2023

Shares 40,711 Value ($000) $6,992 Avg Close $169.52 Range $157.16 - $182.14

Q2 2023

Shares 41,311 Value ($000) $7,819 Avg Close $162.28 Range $149.19 - $175.29

Q1 2023

Shares 40,411 Value ($000) $6,791 Avg Close $153.48 Range $137.68 - $167.10

Q4 2022

Shares 40,011 Value ($000) $6,463 Avg Close $151.65 Range $141.03 - $169.04

Q3 2022

Shares 39,811 Value ($000) $7,333 Avg Close $178.22 Range $160.20 - $194.63

Q2 2022

Shares 39,711 Value ($000) $7,714 Avg Close $189.75 Range $160.59 - $226.69

Q1 2022

Shares 37,911 Value ($000) $9,416 Avg Close $212.68 Range $199.34 - $225.50

Q4 2021

Shares 37,798 Value ($000) $9,547 Avg Close $206.31 Range $189.24 - $221.63

Q3 2021

Shares 36,450 Value ($000) $8,079 Avg Close $192.84 Range $178.76 - $200.51

Q2 2021

Shares 36,450 Value ($000) $7,607 Avg Close $170.51 Range $156.48 - $184.66

Q1 2021

Shares 36,750 Value ($000) $6,781 Avg Close $147.80 Range $130.86 - $165.19

Q4 2020

Shares 36,850 Value ($000) $5,912 Avg Close $133.06 Range $109.91 - $154.34

Q3 2020

Shares 37,650 Value ($000) $5,623 Avg Close $126.71 Range $118.63 - $135.86

Q2 2020

Shares 35,950 Value ($000) $5,559 Avg Close $129.64 Range $106.71 - $145.90

Q1 2020

Shares 32,023 Value ($000) $4,713 Avg Close $163.41 Range $95.83 - $186.04

Q4 2019

Shares 33,823 Value ($000) $7,093 Avg Close $172.50 Range $165.91 - $179.43

Q3 2019

Shares 33,623 Value ($000) $7,240 Avg Close $167.15 Range $158.16 - $174.16

Q2 2019

Shares 33,423 Value ($000) $6,791 Avg Close $160.79 Range $151.87 - $168.00

Q1 2019

Shares 39,923 Value ($000) $8,014 Avg Close $150.51 Range $132.54 - $159.87

Q4 2018

Shares 39,523 Value ($000) $6,879 Avg Close $141.10 Range $130.38 - $149.82

Q3 2018

Shares 41,223 Value ($000) $7,468 Avg Close $138.32 Range $130.81 - $144.00

Q2 2018

Shares 40,923 Value ($000) $7,034 Avg Close $126.88 Range $120.45 - $134.30

Q1 2018

Shares 40,623 Value ($000) $6,681 Avg Close $124.68 Range $116.09 - $136.28

Q4 2017

Shares 40,523 Value ($000) $7,230 Avg Close $136.97 Range $132.17 - $142.53

Q3 2017

Shares 41,923 Value ($000) $7,480 Avg Close $140.26 Range $132.94 - $146.79

Q2 2017

Shares 45,323 Value ($000) $8,710 Avg Close $142.09 Range $135.22 - $148.23

Q1 2017

Shares 45,123 Value ($000) $8,285 Avg Close $132.32 Range $124.96 - $138.60

Q4 2016

Shares 44,923 Value ($000) $7,958 Avg Close $123.37 Range $115.82 - $131.06

Q3 2016

Shares 47,919 Value ($000) $8,522 Avg Close $130.70 Range $122.41 - $136.52

Q2 2016

Shares 47,619 Value ($000) $8,590 Avg Close $129.86 Range $120.04 - $138.55

Q1 2016

Shares 47,219 Value ($000) $8,981 Avg Close $126.35 Range $114.93 - $137.26

Q4 2015

Shares 46,819 Value ($000) $8,621 Avg Close $127.20 Range $119.95 - $133.33

Q3 2015

Shares 48,019 Value ($000) $8,395 Avg Close $119.50 Range $112.12 - $127.12

Q2 2015

Shares 51,219 Value ($000) $8,188 Avg Close $116.57 Range $111.07 - $123.47

Q1 2015

Shares 50,919 Value ($000) $8,873 Avg Close $120.13 Range $113.82 - $126.25

Q4 2014

Shares 54,419 Value ($000) $8,892 Avg Close $108.21 Range $97.29 - $117.40

Q3 2014

Shares 53,819 Value ($000) $7,587 Avg Close $101.55 Range $96.10 - $107.55

Q2 2014

Shares 49,919 Value ($000) $7,098 Avg Close $93.88 Range $88.27 - $98.09

Q1 2014

Shares 49,619 Value ($000) $6,516 Avg Close $84.84 Range $76.80 - $89.72

Q4 2013

Shares 49,419 Value ($000) $5,843 Avg Close $82.16 Range $77.35 - $90.10

Q3 2013

Shares 49,519 Value ($000) $6,293 Avg Close $87.24 Range $80.23 - $93.70

Q2 2013

Shares 49,419 Value ($000) $6,667 Avg Close $87.72 Range $83.10 - $93.12

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	39,011	$7,073	$179.77	$165.15 - $191.98
Q3 2025	40,811	$7,883	$191.17	$177.89 - $202.68
Q2 2025	41,011	$8,346	$199.04	$175.56 - $210.66
Q1 2025	41,511	$8,909	$209.57	$199.61 - $222.20
Q4 2024	41,511	$9,131	$216.25	$206.96 - $229.18
Q3 2024	41,211	$9,283	$205.33	$190.30 - $224.57
Q2 2024	41,411	$8,568	$182.28	$167.23 - $198.13
Q1 2024	41,111	$7,629	$167.99	$158.16 - $176.02
Q4 2023	41,111	$7,697	$161.55	$148.53 - $178.96
Q3 2023	40,711	$6,992	$169.52	$157.16 - $182.14
Q2 2023	41,311	$7,819	$162.28	$149.19 - $175.29
Q1 2023	40,411	$6,791	$153.48	$137.68 - $167.10
Q4 2022	40,011	$6,463	$151.65	$141.03 - $169.04
Q3 2022	39,811	$7,333	$178.22	$160.20 - $194.63
Q2 2022	39,711	$7,714	$189.75	$160.59 - $226.69
Q1 2022	37,911	$9,416	$212.68	$199.34 - $225.50
Q4 2021	37,798	$9,547	$206.31	$189.24 - $221.63
Q3 2021	36,450	$8,079	$192.84	$178.76 - $200.51
Q2 2021	36,450	$7,607	$170.51	$156.48 - $184.66
Q1 2021	36,750	$6,781	$147.80	$130.86 - $165.19
Q4 2020	36,850	$5,912	$133.06	$109.91 - $154.34
Q3 2020	37,650	$5,623	$126.71	$118.63 - $135.86
Q2 2020	35,950	$5,559	$129.64	$106.71 - $145.90
Q1 2020	32,023	$4,713	$163.41	$95.83 - $186.04
Q4 2019	33,823	$7,093	$172.50	$165.91 - $179.43
Q3 2019	33,623	$7,240	$167.15	$158.16 - $174.16
Q2 2019	33,423	$6,791	$160.79	$151.87 - $168.00
Q1 2019	39,923	$8,014	$150.51	$132.54 - $159.87
Q4 2018	39,523	$6,879	$141.10	$130.38 - $149.82
Q3 2018	41,223	$7,468	$138.32	$130.81 - $144.00
Q2 2018	40,923	$7,034	$126.88	$120.45 - $134.30
Q1 2018	40,623	$6,681	$124.68	$116.09 - $136.28
Q4 2017	40,523	$7,230	$136.97	$132.17 - $142.53
Q3 2017	41,923	$7,480	$140.26	$132.94 - $146.79
Q2 2017	45,323	$8,710	$142.09	$135.22 - $148.23
Q1 2017	45,123	$8,285	$132.32	$124.96 - $138.60
Q4 2016	44,923	$7,958	$123.37	$115.82 - $131.06
Q3 2016	47,919	$8,522	$130.70	$122.41 - $136.52
Q2 2016	47,619	$8,590	$129.86	$120.04 - $138.55
Q1 2016	47,219	$8,981	$126.35	$114.93 - $137.26
Q4 2015	46,819	$8,621	$127.20	$119.95 - $133.33
Q3 2015	48,019	$8,395	$119.50	$112.12 - $127.12
Q2 2015	51,219	$8,188	$116.57	$111.07 - $123.47
Q1 2015	50,919	$8,873	$120.13	$113.82 - $126.25
Q4 2014	54,419	$8,892	$108.21	$97.29 - $117.40
Q3 2014	53,819	$7,587	$101.55	$96.10 - $107.55
Q2 2014	49,919	$7,098	$93.88	$88.27 - $98.09
Q1 2014	49,619	$6,516	$84.84	$76.80 - $89.72
Q4 2013	49,419	$5,843	$82.16	$77.35 - $90.10
Q3 2013	49,519	$6,293	$87.24	$80.23 - $93.70
Q2 2013	49,419	$6,667	$87.72	$83.10 - $93.12