CULLEN FROST BANKERS INC

Ticker: CFR CUSIP: 229899109 Class: COM

Spence Asset Management's Holding History (CIK: 0001729269)

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

Q2 2019

Shares 854 Value ($000) $80 Avg Close $79.79 Range $73.85 - $85.12

Q1 2019

Shares 854 Value ($000) $83 Avg Close $80.50 Range $69.90 - $85.96

Q4 2018

Shares 998 Value ($000) $88 Avg Close $78.37 Range $66.24 - $87.16

Q3 2018

Shares 67,568 Value ($000) $7,057 Avg Close $88.90 Range $82.39 - $93.03

Q2 2018

Shares 65,344 Value ($000) $7,071 Avg Close $89.84 Range $80.91 - $96.62

Q1 2018

Shares 63,015 Value ($000) $6,684 Avg Close $82.70 Range $74.57 - $88.23

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2019	854	$80	$79.79	$73.85 - $85.12
Q1 2019	854	$83	$80.50	$69.90 - $85.96
Q4 2018	998	$88	$78.37	$66.24 - $87.16
Q3 2018	67,568	$7,057	$88.90	$82.39 - $93.03
Q2 2018	65,344	$7,071	$89.84	$80.91 - $96.62
Q1 2018	63,015	$6,684	$82.70	$74.57 - $88.23