GLADSTONE INVT CORP

Ticker: GAIN CUSIP: 376546107 Class: COM

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q3 2014

Shares 45,400 Value ($000) $323 Avg Close $2.33 Range $2.23 - $2.42

Q2 2014

Shares 45,400 Value ($000) $336 Avg Close $2.36 Range $2.23 - $2.52

Q1 2014

Shares 45,400 Value ($000) $375 Avg Close $2.40 Range $2.18 - $2.52

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	45,400	$323	$2.33	$2.23 - $2.42
Q2 2014	45,400	$336	$2.36	$2.23 - $2.52
Q1 2014	45,400	$375	$2.40	$2.18 - $2.52