CULLEN FROST BANKERS INC

Ticker: CFR CUSIP: 229899109 Class: COM

GAM Holding AG's Holding History (CIK: 0001438848)

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

Q4 2018

Shares 2,607 Value ($000) $227 Avg Close $78.37 Range $66.24 - $87.16

Q3 2018

Shares 3,784 Value ($000) $395 Avg Close $88.90 Range $82.39 - $93.03

Q2 2018

Shares 3,820 Value ($000) $413 Avg Close $89.84 Range $80.91 - $96.62

Q2 2017

Shares 5,987 Value ($000) $562 Avg Close $71.70 Range $66.32 - $77.39

Q1 2017

Shares 8,443 Value ($000) $751 Avg Close $69.53 Range $63.64 - $74.92

Q4 2016

Shares 26,549 Value ($000) $2,343 Avg Close $61.60 Range $53.50 - $68.59

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2018	2,607	$227	$78.37	$66.24 - $87.16
Q3 2018	3,784	$395	$88.90	$82.39 - $93.03
Q2 2018	3,820	$413	$89.84	$80.91 - $96.62
Q2 2017	5,987	$562	$71.70	$66.32 - $77.39
Q1 2017	8,443	$751	$69.53	$63.64 - $74.92
Q4 2016	26,549	$2,343	$61.60	$53.50 - $68.59