BADGER METER INC

Ticker: BMI CUSIP: 056525108 Class: EQTY

State of Tennessee, Department of Treasury's Holding History (CIK: 0001587973)

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

Q4 2025

Shares 12,835 Value ($000) $1,881 Avg Close $179.79 Range $166.62 - $203.51

Q3 2025

Shares 13,896 Value ($000) $2,482 Avg Close $195.98 Range $170.39 - $248.42

Q2 2025

Shares 14,281 Value ($000) $3,498 Avg Close $225.32 Range $161.21 - $254.91

Q1 2025

Shares 16,085 Value ($000) $3,060 Avg Close $207.21 Range $186.02 - $220.32

Q4 2024

Shares 16,347 Value ($000) $3,468 Avg Close $215.93 Range $191.24 - $237.30

Q3 2024

Shares 16,362 Value ($000) $3,574 Avg Close $198.39 Range $179.05 - $218.24

Q2 2024

Shares 16,141 Value ($000) $3,008 Avg Close $180.48 Range $149.35 - $200.63

Q1 2024

Shares 16,141 Value ($000) $2,612 Avg Close $151.60 Range $137.57 - $162.82

Q4 2023

Shares 18,909 Value ($000) $2,919 Avg Close $143.50 Range $131.97 - $156.28

Q3 2023

Shares 19,270 Value ($000) $2,772 Avg Close $155.35 Range $136.32 - $167.91

Q2 2023

Shares 20,522 Value ($000) $3,028 Avg Close $135.17 Range $115.31 - $153.46

Q1 2023

Shares 22,506 Value ($000) $2,742 Avg Close $114.59 Range $101.78 - $122.01

Q4 2022

Shares 27,686 Value ($000) $3 Avg Close $106.24 Range $86.17 - $118.04

Q3 2022

Shares 27,686 Value ($000) $3 Avg Close $90.56 Range $74.97 - $100.73

Q2 2022

Shares 21,431 Value ($000) $1,734 Avg Close $80.46 Range $71.38 - $99.86

Q1 2022

Shares 22,184 Value ($000) $2,212 Avg Close $95.17 Range $83.04 - $105.56

Q4 2021

Shares 18,442 Value ($000) $1,965 Avg Close $102.11 Range $96.04 - $109.06

Q3 2021

Shares 18,442 Value ($000) $1,866 Avg Close $98.92 Range $90.78 - $104.88

Q2 2021

Shares 19,442 Value ($000) $1,907 Avg Close $91.27 Range $86.18 - $96.71

Q1 2021

Shares 17,248 Value ($000) $1,605 Avg Close $97.10 Range $85.74 - $107.88

Q4 2020

Shares 15,648 Value ($000) $1,471 Avg Close $76.86 Range $62.46 - $92.51

Q3 2020

Shares 9,705 Value ($000) $634 Avg Close $61.29 Range $57.07 - $65.43

Q2 2020

Shares 21,664 Value ($000) $1,363 Avg Close $56.81 Range $44.94 - $65.20

Q1 2020

Shares 18,195 Value ($000) $976 Avg Close $58.14 Range $39.68 - $67.55

Q4 2019

Shares 22,685 Value ($000) $1,473 Avg Close $56.49 Range $48.19 - $63.55

Q3 2019

Shares 24,638 Value ($000) $1,323 Avg Close $51.19 Range $47.07 - $57.37

Q2 2019

Shares 26,731 Value ($000) $1,595 Avg Close $52.44 Range $48.74 - $57.18

Q1 2019

Shares 26,731 Value ($000) $1,488 Avg Close $52.46 Range $44.87 - $58.05

Q4 2018

Shares 20,482 Value ($000) $1,008 Avg Close $48.19 Range $44.03 - $53.86

Q3 2018

Shares 16,153 Value ($000) $855 Avg Close $48.82 Range $41.35 - $53.03

Q2 2018

Shares 20,393 Value ($000) $912 Avg Close $41.42 Range $38.33 - $44.31

Q1 2018

Shares 21,106 Value ($000) $995 Avg Close $45.15 Range $42.38 - $47.60

Q4 2017

Shares 23,322 Value ($000) $1,115 Avg Close $43.15 Range $39.05 - $48.44

Q3 2017

Shares 25,861 Value ($000) $1,267 Avg Close $41.26 Range $36.25 - $45.98

Q2 2017

Shares 27,496 Value ($000) $1,096 Avg Close $35.90 Range $32.59 - $38.55

Q1 2017

Shares 27,496 Value ($000) $1,010 Avg Close $33.94 Range $31.79 - $36.72

Q4 2016

Shares 23,346 Value ($000) $863 Avg Close $32.11 Range $26.91 - $36.08

Q3 2016

Shares 23,346 Value ($000) $782 Avg Close $31.66 Range $29.30 - $34.60

Q2 2016

Shares 11,573 Value ($000) $845 Avg Close $32.67 Range $28.96 - $35.93

Q1 2016

Shares 11,573 Value ($000) $770 Avg Close $28.14 Range $24.03 - $31.71

Q4 2015

Shares 11,300 Value ($000) $662 Avg Close $27.06 Range $25.07 - $28.21

Q2 2015

Shares 11,300 Value ($000) $717 Avg Close $28.46 Range $26.44 - $29.77

Q1 2015

Shares 11,300 Value ($000) $677 Avg Close $26.24 Range $24.58 - $27.59

Q4 2014

Shares 11,300 Value ($000) $671 Avg Close $24.57 Range $21.25 - $27.36

Q3 2014

Shares 12,400 Value ($000) $626 Avg Close $22.93 Range $21.11 - $24.24

Q2 2014

Shares 12,400 Value ($000) $653 Avg Close $22.79 Range $20.66 - $25.32

Q1 2014

Shares 13,000 Value ($000) $716 Avg Close $23.48 Range $21.22 - $24.91

Q4 2013

Shares 15,200 Value ($000) $828 Avg Close $22.96 Range $19.78 - $24.97

Q3 2013

Shares 15,200 Value ($000) $707 Avg Close $20.70 Range $19.33 - $21.97

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	12,835	$1,881	$179.79	$166.62 - $203.51
Q3 2025	13,896	$2,482	$195.98	$170.39 - $248.42
Q2 2025	14,281	$3,498	$225.32	$161.21 - $254.91
Q1 2025	16,085	$3,060	$207.21	$186.02 - $220.32
Q4 2024	16,347	$3,468	$215.93	$191.24 - $237.30
Q3 2024	16,362	$3,574	$198.39	$179.05 - $218.24
Q2 2024	16,141	$3,008	$180.48	$149.35 - $200.63
Q1 2024	16,141	$2,612	$151.60	$137.57 - $162.82
Q4 2023	18,909	$2,919	$143.50	$131.97 - $156.28
Q3 2023	19,270	$2,772	$155.35	$136.32 - $167.91
Q2 2023	20,522	$3,028	$135.17	$115.31 - $153.46
Q1 2023	22,506	$2,742	$114.59	$101.78 - $122.01
Q4 2022	27,686	$3	$106.24	$86.17 - $118.04
Q3 2022	27,686	$3	$90.56	$74.97 - $100.73
Q2 2022	21,431	$1,734	$80.46	$71.38 - $99.86
Q1 2022	22,184	$2,212	$95.17	$83.04 - $105.56
Q4 2021	18,442	$1,965	$102.11	$96.04 - $109.06
Q3 2021	18,442	$1,866	$98.92	$90.78 - $104.88
Q2 2021	19,442	$1,907	$91.27	$86.18 - $96.71
Q1 2021	17,248	$1,605	$97.10	$85.74 - $107.88
Q4 2020	15,648	$1,471	$76.86	$62.46 - $92.51
Q3 2020	9,705	$634	$61.29	$57.07 - $65.43
Q2 2020	21,664	$1,363	$56.81	$44.94 - $65.20
Q1 2020	18,195	$976	$58.14	$39.68 - $67.55
Q4 2019	22,685	$1,473	$56.49	$48.19 - $63.55
Q3 2019	24,638	$1,323	$51.19	$47.07 - $57.37
Q2 2019	26,731	$1,595	$52.44	$48.74 - $57.18
Q1 2019	26,731	$1,488	$52.46	$44.87 - $58.05
Q4 2018	20,482	$1,008	$48.19	$44.03 - $53.86
Q3 2018	16,153	$855	$48.82	$41.35 - $53.03
Q2 2018	20,393	$912	$41.42	$38.33 - $44.31
Q1 2018	21,106	$995	$45.15	$42.38 - $47.60
Q4 2017	23,322	$1,115	$43.15	$39.05 - $48.44
Q3 2017	25,861	$1,267	$41.26	$36.25 - $45.98
Q2 2017	27,496	$1,096	$35.90	$32.59 - $38.55
Q1 2017	27,496	$1,010	$33.94	$31.79 - $36.72
Q4 2016	23,346	$863	$32.11	$26.91 - $36.08
Q3 2016	23,346	$782	$31.66	$29.30 - $34.60
Q2 2016	11,573	$845	$32.67	$28.96 - $35.93
Q1 2016	11,573	$770	$28.14	$24.03 - $31.71
Q4 2015	11,300	$662	$27.06	$25.07 - $28.21
Q2 2015	11,300	$717	$28.46	$26.44 - $29.77
Q1 2015	11,300	$677	$26.24	$24.58 - $27.59
Q4 2014	11,300	$671	$24.57	$21.25 - $27.36
Q3 2014	12,400	$626	$22.93	$21.11 - $24.24
Q2 2014	12,400	$653	$22.79	$20.66 - $25.32
Q1 2014	13,000	$716	$23.48	$21.22 - $24.91
Q4 2013	15,200	$828	$22.96	$19.78 - $24.97
Q3 2013	15,200	$707	$20.70	$19.33 - $21.97