FRANKLIN RESOURCES INC

Ticker: BEN CUSIP: 354613101 Class: COM

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q4 2025

Shares 80,237 Value ($000) $1,917 Avg Close $22.66 Range $20.82 - $24.33

Q3 2025

Shares 82,837 Value ($000) $1,916 Avg Close $24.05 Range $22.22 - $25.37

Q2 2025

Shares 84,337 Value ($000) $2,011 Avg Close $19.79 Range $15.60 - $23.49

Q1 2025

Shares 91,395 Value ($000) $1,759 Avg Close $18.92 Range $17.77 - $21.32

Q4 2024

Shares 91,095 Value ($000) $1,848 Avg Close $19.58 Range $17.87 - $21.62

Q3 2024

Shares 90,095 Value ($000) $1,815 Avg Close $19.72 Range $17.34 - $22.31

Q2 2024

Shares 88,195 Value ($000) $1,971 Avg Close $21.74 Range $19.47 - $25.35

Q1 2024

Shares 87,595 Value ($000) $2,462 Avg Close $24.59 Range $23.26 - $26.24

Q4 2023

Shares 82,495 Value ($000) $2,458 Avg Close $21.97 Range $19.32 - $26.77

Q3 2023

Shares 84,295 Value ($000) $2,072 Avg Close $23.60 Range $21.05 - $26.27

Q2 2023

Shares 85,995 Value ($000) $2,297 Avg Close $22.29 Range $20.58 - $24.58

Q1 2023

Shares 87,195 Value ($000) $2,349 Avg Close $24.91 Range $21.82 - $29.30

Q4 2022

Shares 86,095 Value ($000) $2,271 Avg Close $20.94 Range $17.06 - $24.29

Q3 2022

Shares 85,795 Value ($000) $1,846 Avg Close $21.40 Range $18.09 - $24.19

Q2 2022

Shares 84,495 Value ($000) $1,970 Avg Close $21.04 Range $18.72 - $23.34

Q1 2022

Shares 78,595 Value ($000) $2,194 Avg Close $24.87 Range $21.54 - $29.68

Q4 2021

Shares 78,372 Value ($000) $2,625 Avg Close $26.58 Range $23.02 - $30.89

Q3 2021

Shares 73,614 Value ($000) $2,188 Avg Close $24.96 Range $22.65 - $26.85

Q2 2021

Shares 71,314 Value ($000) $2,281 Avg Close $25.70 Range $22.70 - $28.50

Q1 2021

Shares 70,714 Value ($000) $2,093 Avg Close $21.47 Range $18.82 - $24.00

Q4 2020

Shares 70,714 Value ($000) $1,767 Avg Close $17.35 Range $13.96 - $19.68

Q3 2020

Shares 74,814 Value ($000) $1,522 Avg Close $16.08 Range $14.65 - $17.85

Q2 2020

Shares 70,814 Value ($000) $1,485 Avg Close $14.28 Range $11.28 - $18.41

Q1 2020

Shares 63,960 Value ($000) $1,067 Avg Close $17.10 Range $11.39 - $20.56

Q4 2019

Shares 67,460 Value ($000) $1,753 Avg Close $20.04 Range $18.95 - $21.58

Q3 2019

Shares 67,860 Value ($000) $1,958 Avg Close $22.33 Range $18.68 - $26.13

Q2 2019

Shares 70,460 Value ($000) $2,452 Avg Close $24.66 Range $22.84 - $25.97

Q1 2019

Shares 85,160 Value ($000) $2,822 Avg Close $22.72 Range $20.56 - $24.56

Q4 2018

Shares 85,160 Value ($000) $2,526 Avg Close $21.92 Range $19.49 - $24.70

Q3 2018

Shares 91,060 Value ($000) $2,769 Avg Close $22.81 Range $21.19 - $24.66

Q2 2018

Shares 94,360 Value ($000) $3,024 Avg Close $23.54 Range $22.25 - $24.49

Q1 2018

Shares 95,860 Value ($000) $3,324 Avg Close $26.18 Range $23.48 - $29.52

Q4 2017

Shares 95,760 Value ($000) $4,149 Avg Close $27.68 Range $25.69 - $29.00

Q3 2017

Shares 99,860 Value ($000) $4,445 Avg Close $27.87 Range $26.04 - $30.30

Q2 2017

Shares 112,560 Value ($000) $5,042 Avg Close $27.06 Range $25.63 - $29.00

Q1 2017

Shares 113,260 Value ($000) $4,773 Avg Close $26.15 Range $24.81 - $27.94

Q4 2016

Shares 148,460 Value ($000) $5,876 Avg Close $23.47 Range $20.70 - $26.44

Q3 2016

Shares 157,632 Value ($000) $5,607 Avg Close $22.06 Range $19.70 - $23.07

Q2 2016

Shares 188,032 Value ($000) $6,275 Avg Close $22.53 Range $18.95 - $25.57

Q1 2016

Shares 188,532 Value ($000) $7,362 Avg Close $21.84 Range $19.13 - $24.76

Q4 2015

Shares 189,632 Value ($000) $6,982 Avg Close $24.03 Range $21.26 - $25.94

Q3 2015

Shares 199,632 Value ($000) $7,438 Avg Close $26.49 Range $22.20 - $30.56

Q2 2015

Shares 151,232 Value ($000) $7,415 Avg Close $31.29 Range $29.78 - $32.18

Q1 2015

Shares 151,132 Value ($000) $7,756 Avg Close $32.28 Range $30.70 - $34.00

Q4 2014

Shares 161,532 Value ($000) $8,944 Avg Close $33.23 Range $29.53 - $35.73

Q3 2014

Shares 161,532 Value ($000) $8,821 Avg Close $33.59 Range $31.58 - $34.96

Q2 2014

Shares 164,632 Value ($000) $9,522 Avg Close $32.75 Range $30.53 - $34.97

Q1 2014

Shares 164,832 Value ($000) $8,931 Avg Close $32.15 Range $29.81 - $35.16

Q4 2013

Shares 164,132 Value ($000) $9,475 Avg Close $32.13 Range $29.50 - $34.55

Q3 2013

Shares 165,332 Value ($000) $8,358 Avg Close $28.71 Range $26.80 - $32.33

Q2 2013

Shares 56,144 Value ($000) $7,637 Avg Close $30.23 Range $26.30 - $33.56

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	80,237	$1,917	$22.66	$20.82 - $24.33
Q3 2025	82,837	$1,916	$24.05	$22.22 - $25.37
Q2 2025	84,337	$2,011	$19.79	$15.60 - $23.49
Q1 2025	91,395	$1,759	$18.92	$17.77 - $21.32
Q4 2024	91,095	$1,848	$19.58	$17.87 - $21.62
Q3 2024	90,095	$1,815	$19.72	$17.34 - $22.31
Q2 2024	88,195	$1,971	$21.74	$19.47 - $25.35
Q1 2024	87,595	$2,462	$24.59	$23.26 - $26.24
Q4 2023	82,495	$2,458	$21.97	$19.32 - $26.77
Q3 2023	84,295	$2,072	$23.60	$21.05 - $26.27
Q2 2023	85,995	$2,297	$22.29	$20.58 - $24.58
Q1 2023	87,195	$2,349	$24.91	$21.82 - $29.30
Q4 2022	86,095	$2,271	$20.94	$17.06 - $24.29
Q3 2022	85,795	$1,846	$21.40	$18.09 - $24.19
Q2 2022	84,495	$1,970	$21.04	$18.72 - $23.34
Q1 2022	78,595	$2,194	$24.87	$21.54 - $29.68
Q4 2021	78,372	$2,625	$26.58	$23.02 - $30.89
Q3 2021	73,614	$2,188	$24.96	$22.65 - $26.85
Q2 2021	71,314	$2,281	$25.70	$22.70 - $28.50
Q1 2021	70,714	$2,093	$21.47	$18.82 - $24.00
Q4 2020	70,714	$1,767	$17.35	$13.96 - $19.68
Q3 2020	74,814	$1,522	$16.08	$14.65 - $17.85
Q2 2020	70,814	$1,485	$14.28	$11.28 - $18.41
Q1 2020	63,960	$1,067	$17.10	$11.39 - $20.56
Q4 2019	67,460	$1,753	$20.04	$18.95 - $21.58
Q3 2019	67,860	$1,958	$22.33	$18.68 - $26.13
Q2 2019	70,460	$2,452	$24.66	$22.84 - $25.97
Q1 2019	85,160	$2,822	$22.72	$20.56 - $24.56
Q4 2018	85,160	$2,526	$21.92	$19.49 - $24.70
Q3 2018	91,060	$2,769	$22.81	$21.19 - $24.66
Q2 2018	94,360	$3,024	$23.54	$22.25 - $24.49
Q1 2018	95,860	$3,324	$26.18	$23.48 - $29.52
Q4 2017	95,760	$4,149	$27.68	$25.69 - $29.00
Q3 2017	99,860	$4,445	$27.87	$26.04 - $30.30
Q2 2017	112,560	$5,042	$27.06	$25.63 - $29.00
Q1 2017	113,260	$4,773	$26.15	$24.81 - $27.94
Q4 2016	148,460	$5,876	$23.47	$20.70 - $26.44
Q3 2016	157,632	$5,607	$22.06	$19.70 - $23.07
Q2 2016	188,032	$6,275	$22.53	$18.95 - $25.57
Q1 2016	188,532	$7,362	$21.84	$19.13 - $24.76
Q4 2015	189,632	$6,982	$24.03	$21.26 - $25.94
Q3 2015	199,632	$7,438	$26.49	$22.20 - $30.56
Q2 2015	151,232	$7,415	$31.29	$29.78 - $32.18
Q1 2015	151,132	$7,756	$32.28	$30.70 - $34.00
Q4 2014	161,532	$8,944	$33.23	$29.53 - $35.73
Q3 2014	161,532	$8,821	$33.59	$31.58 - $34.96
Q2 2014	164,632	$9,522	$32.75	$30.53 - $34.97
Q1 2014	164,832	$8,931	$32.15	$29.81 - $35.16
Q4 2013	164,132	$9,475	$32.13	$29.50 - $34.55
Q3 2013	165,332	$8,358	$28.71	$26.80 - $32.33
Q2 2013	56,144	$7,637	$30.23	$26.30 - $33.56