CULLEN FROST BANKERS INC

Ticker: CFR CUSIP: 229899109 Class: COM

FIDUCIARY MANAGEMENT INC /WI/'s Holding History (CIK: 0000764532)

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

Q1 2016
Shares 671,721 Value ($000) $37,019 Avg Close $38.79 Range $31.63 - $44.93
Q4 2015
Shares 1,283,275 Value ($000) $76,996 Avg Close $49.23 Range $44.21 - $54.77
Q3 2015
Shares 1,314,658 Value ($000) $83,586 Avg Close $50.16 Range $43.56 - $58.34
Q2 2015
Shares 1,307,403 Value ($000) $102,736 Avg Close $53.97 Range $49.18 - $58.88
Q1 2015
Shares 1,327,062 Value ($000) $91,673 Avg Close $48.75 Range $44.02 - $51.97
Q4 2014
Shares 1,356,045 Value ($000) $95,791 Avg Close $54.33 Range $48.79 - $58.92
Q3 2014
Shares 1,374,962 Value ($000) $105,198 Avg Close $56.16 Range $53.78 - $58.73
Q2 2014
Shares 1,395,712 Value ($000) $110,847 Avg Close $54.77 Range $51.32 - $57.00
Q1 2014
Shares 1,371,952 Value ($000) $106,367 Avg Close $52.77 Range $49.21 - $56.00
Q4 2013
Shares 1,397,720 Value ($000) $104,032 Avg Close $50.20 Range $48.35 - $52.59
Q3 2013
Shares 1,416,340 Value ($000) $99,923 Avg Close $49.56 Range $46.51 - $53.04
Q2 2013
Shares 1,401,505 Value ($000) $93,578 Avg Close $43.57 Range $40.75 - $46.68