CULLEN FROST BANKERS INC

Ticker: CFR CUSIP: 229899109 Class: COM

ALPINE WOODS CAPITAL INVESTORS, LLC's Holding History (CIK: 0001226886)

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

Q2 2016

Shares 11,700 Value ($000) $746 Avg Close $46.66 Range $38.78 - $51.48

Q1 2016

Shares 19,500 Value ($000) $1,075 Avg Close $38.79 Range $31.63 - $44.93

Q4 2015

Shares 15,000 Value ($000) $900 Avg Close $49.23 Range $44.21 - $54.77

Q3 2015

Shares 26,000 Value ($000) $1,653 Avg Close $50.16 Range $43.56 - $58.34

Q1 2015

Shares 28,000 Value ($000) $1,934 Avg Close $48.75 Range $44.02 - $51.97

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	11,700	$746	$46.66	$38.78 - $51.48
Q1 2016	19,500	$1,075	$38.79	$31.63 - $44.93
Q4 2015	15,000	$900	$49.23	$44.21 - $54.77
Q3 2015	26,000	$1,653	$50.16	$43.56 - $58.34
Q1 2015	28,000	$1,934	$48.75	$44.02 - $51.97