GRAHAM HLDGS CO

Ticker: GHC CUSIP: 384637104 Class: Common Stock

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

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

Q1 2020

Shares 810 Value ($000) $276 Avg Close $476.76 Range $251.81 - $608.34

Q4 2019

Shares 810 Value ($000) $518 Avg Close $599.25 Range $575.16 - $625.62

Q3 2019

Shares 800 Value ($000) $531 Avg Close $662.81 Range $614.24 - $707.42

Q2 2019

Shares 800 Value ($000) $552 Avg Close $651.82 Range $622.82 - $702.80

Q1 2019

Shares 790 Value ($000) $540 Avg Close $623.97 Range $581.89 - $652.43

Q4 2018

Shares 1,050 Value ($000) $673 Avg Close $573.91 Range $514.45 - $630.78

Q2 2018

Shares 1,030 Value ($000) $604 Avg Close $555.10 Range $533.09 - $578.86

Q1 2018

Shares 1,400 Value ($000) $843 Avg Close $541.55 Range $512.64 - $568.19

Q4 2017

Shares 1,400 Value ($000) $782 Avg Close $521.65 Range $494.71 - $546.17

Q3 2017

Shares 1,400 Value ($000) $819 Avg Close $537.02 Range $513.53 - $553.89

Q2 2017

Shares 1,800 Value ($000) $1,079 Avg Close $549.24 Range $536.34 - $564.97

Q1 2017

Shares 2,150 Value ($000) $1,289 Avg Close $499.12 Range $459.77 - $551.04

Q4 2016

Shares 2,120 Value ($000) $1,085 Avg Close $444.66 Range $402.30 - $500.24

Q3 2016

Shares 1,920 Value ($000) $924 Avg Close $456.70 Range $432.03 - $479.72

Q2 2016

Shares 1,890 Value ($000) $925 Avg Close $442.70 Range $410.24 - $472.87

Q1 2016

Shares 1,430 Value ($000) $686 Avg Close $431.34 Range $384.29 - $481.83

Q4 2015

Shares 1,430 Value ($000) $694 Avg Close $491.36 Range $423.49 - $548.37

Q3 2015

Shares 1,430 Value ($000) $825 Avg Close $595.59 Range $510.07 - $650.41

Q2 2015

Shares 1,390 Value ($000) $1,494 Avg Close $568.21 Range $516.59 - $607.95

Q1 2015

Shares 1,300 Value ($000) $1,365 Avg Close $528.21 Range $450.57 - $595.27

Q4 2014

Shares 1,420 Value ($000) $1,226 Avg Close $438.71 Range $361.50 - $511.73

Q3 2014

Shares 200 Value ($000) $140 Avg Close $381.66 Range $366.57 - $398.94

Q2 2014

Shares 100 Value ($000) $72 Avg Close $368.14 Range $345.36 - $392.61

Q1 2014

Shares 100 Value ($000) $70 Avg Close $359.32 Range $325.70 - $396.88

Q4 2013

Shares 100 Value ($000) $66 Avg Close $339.79 Range $315.53 - $360.20

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	810	$276	$476.76	$251.81 - $608.34
Q4 2019	810	$518	$599.25	$575.16 - $625.62
Q3 2019	800	$531	$662.81	$614.24 - $707.42
Q2 2019	800	$552	$651.82	$622.82 - $702.80
Q1 2019	790	$540	$623.97	$581.89 - $652.43
Q4 2018	1,050	$673	$573.91	$514.45 - $630.78
Q2 2018	1,030	$604	$555.10	$533.09 - $578.86
Q1 2018	1,400	$843	$541.55	$512.64 - $568.19
Q4 2017	1,400	$782	$521.65	$494.71 - $546.17
Q3 2017	1,400	$819	$537.02	$513.53 - $553.89
Q2 2017	1,800	$1,079	$549.24	$536.34 - $564.97
Q1 2017	2,150	$1,289	$499.12	$459.77 - $551.04
Q4 2016	2,120	$1,085	$444.66	$402.30 - $500.24
Q3 2016	1,920	$924	$456.70	$432.03 - $479.72
Q2 2016	1,890	$925	$442.70	$410.24 - $472.87
Q1 2016	1,430	$686	$431.34	$384.29 - $481.83
Q4 2015	1,430	$694	$491.36	$423.49 - $548.37
Q3 2015	1,430	$825	$595.59	$510.07 - $650.41
Q2 2015	1,390	$1,494	$568.21	$516.59 - $607.95
Q1 2015	1,300	$1,365	$528.21	$450.57 - $595.27
Q4 2014	1,420	$1,226	$438.71	$361.50 - $511.73
Q3 2014	200	$140	$381.66	$366.57 - $398.94
Q2 2014	100	$72	$368.14	$345.36 - $392.61
Q1 2014	100	$70	$359.32	$325.70 - $396.88
Q4 2013	100	$66	$339.79	$315.53 - $360.20