INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

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

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

Q2 2020

Shares 25,670 Value ($000) $3,100 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 38,750 Value ($000) $4,299 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 38,610 Value ($000) $5,175 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 36,960 Value ($000) $5,374 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 36,840 Value ($000) $5,080 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 34,740 Value ($000) $4,902 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 46,950 Value ($000) $5,337 Avg Close $87.95 Range $74.66 - $107.42

Q2 2018

Shares 42,980 Value ($000) $6,004 Avg Close $99.95 Range $94.63 - $110.30

Q1 2018

Shares 42,880 Value ($000) $6,579 Avg Close $107.30 Range $98.32 - $115.38

Q4 2017

Shares 42,880 Value ($000) $6,579 Avg Close $102.11 Range $96.94 - $108.49

Q3 2017

Shares 38,420 Value ($000) $5,574 Avg Close $96.87 Range $92.88 - $103.07

Q2 2017

Shares 43,910 Value ($000) $6,755 Avg Close $103.77 Range $98.95 - $115.36

Q1 2017

Shares 43,910 Value ($000) $7,646 Avg Close $114.39 Range $107.32 - $119.58

Q4 2016

Shares 43,910 Value ($000) $7,289 Avg Close $103.05 Range $95.06 - $110.31

Q3 2016

Shares 43,980 Value ($000) $6,986 Avg Close $101.76 Range $95.61 - $106.13

Q2 2016

Shares 43,910 Value ($000) $6,665 Avg Close $95.13 Range $90.08 - $99.15

Q1 2016

Shares 33,770 Value ($000) $5,115 Avg Close $84.07 Range $73.78 - $96.70

Q4 2015

Shares 33,780 Value ($000) $4,649 Avg Close $87.52 Range $82.31 - $94.87

Q3 2015

Shares 33,630 Value ($000) $4,876 Avg Close $95.35 Range $87.10 - $106.76

Q2 2015

Shares 33,560 Value ($000) $5,459 Avg Close $102.99 Range $96.57 - $107.49

Q1 2015

Shares 27,200 Value ($000) $4,366 Avg Close $96.47 Range $90.53 - $100.82

Q4 2014

Shares 33,000 Value ($000) $5,295 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 33,000 Value ($000) $6,264 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 34,800 Value ($000) $6,308 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 34,800 Value ($000) $6,699 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 34,900 Value ($000) $6,546 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 34,900 Value ($000) $6,463 Avg Close $111.55 Range $106.48 - $117.56

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2020	25,670	$3,100	$91.40	$78.00 - $102.76
Q1 2020	38,750	$4,299	$98.28	$67.58 - $117.24
Q4 2019	38,610	$5,175	$99.90	$95.55 - $107.55
Q3 2019	36,960	$5,374	$102.47	$94.04 - $110.34
Q2 2019	36,840	$5,080	$98.62	$91.51 - $103.66
Q1 2019	34,740	$4,902	$94.64	$78.71 - $101.33
Q4 2018	46,950	$5,337	$87.95	$74.66 - $107.42
Q2 2018	42,980	$6,004	$99.95	$94.63 - $110.30
Q1 2018	42,880	$6,579	$107.30	$98.32 - $115.38
Q4 2017	42,880	$6,579	$102.11	$96.94 - $108.49
Q3 2017	38,420	$5,574	$96.87	$92.88 - $103.07
Q2 2017	43,910	$6,755	$103.77	$98.95 - $115.36
Q1 2017	43,910	$7,646	$114.39	$107.32 - $119.58
Q4 2016	43,910	$7,289	$103.05	$95.06 - $110.31
Q3 2016	43,980	$6,986	$101.76	$95.61 - $106.13
Q2 2016	43,910	$6,665	$95.13	$90.08 - $99.15
Q1 2016	33,770	$5,115	$84.07	$73.78 - $96.70
Q4 2015	33,780	$4,649	$87.52	$82.31 - $94.87
Q3 2015	33,630	$4,876	$95.35	$87.10 - $106.76
Q2 2015	33,560	$5,459	$102.99	$96.57 - $107.49
Q1 2015	27,200	$4,366	$96.47	$90.53 - $100.82
Q4 2014	33,000	$5,295	$100.47	$91.12 - $114.79
Q3 2014	33,000	$6,264	$114.33	$108.62 - $117.41
Q2 2014	34,800	$6,308	$112.28	$107.17 - $118.40
Q1 2014	34,800	$6,699	$109.22	$101.79 - $116.27
Q4 2013	34,900	$6,546	$106.40	$101.46 - $111.01
Q3 2013	34,900	$6,463	$111.55	$106.48 - $117.56