INTERNATIONAL PAPER CO

Ticker: IP CUSIP: 460146103 Class: COM

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

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

Q2 2020

Shares 23,070 Value ($000) $812 Avg Close $24.80 Range $21.36 - $29.94

Q1 2020

Shares 21,760 Value ($000) $678 Avg Close $28.50 Range $19.32 - $33.68

Q4 2019

Shares 21,760 Value ($000) $1,002 Avg Close $31.89 Range $27.43 - $34.47

Q3 2019

Shares 21,760 Value ($000) $910 Avg Close $29.34 Range $26.08 - $32.62

Q2 2019

Shares 21,660 Value ($000) $938 Avg Close $31.37 Range $28.88 - $33.50

Q1 2019

Shares 26,300 Value ($000) $1,217 Avg Close $31.79 Range $27.31 - $33.69

Q4 2018

Shares 31,800 Value ($000) $1,283 Avg Close $30.46 Range $25.95 - $34.65

Q2 2018

Shares 31,800 Value ($000) $1,656 Avg Close $36.35 Range $33.57 - $40.34

Q1 2018

Shares 24,910 Value ($000) $1,331 Avg Close $39.21 Range $33.60 - $44.58

Q4 2017

Shares 24,910 Value ($000) $1,443 Avg Close $37.59 Range $35.37 - $38.93

Q3 2017

Shares 26,590 Value ($000) $1,511 Avg Close $36.51 Range $33.86 - $38.57

Q2 2017

Shares 29,060 Value ($000) $1,645 Avg Close $34.75 Range $32.17 - $37.45

Q1 2017

Shares 23,990 Value ($000) $1,218 Avg Close $34.17 Range $32.18 - $37.84

Q4 2016

Shares 23,990 Value ($000) $1,273 Avg Close $31.25 Range $27.71 - $35.15

Q3 2016

Shares 13,090 Value ($000) $628 Avg Close $29.51 Range $25.89 - $31.75

Q2 2016

Shares 12,980 Value ($000) $550 Avg Close $26.29 Range $24.54 - $27.85

Q1 2016

Shares 20,450 Value ($000) $839 Avg Close $22.81 Range $20.01 - $26.25

Q4 2015

Shares 20,450 Value ($000) $771 Avg Close $24.89 Range $22.64 - $27.32

Q3 2015

Shares 20,340 Value ($000) $769 Avg Close $27.15 Range $22.61 - $29.90

Q2 2015

Shares 17,080 Value ($000) $813 Avg Close $31.50 Range $28.63 - $33.87

Q1 2015

Shares 12,500 Value ($000) $694 Avg Close $32.75 Range $30.57 - $34.72

Q4 2014

Shares 15,000 Value ($000) $804 Avg Close $30.67 Range $26.30 - $33.18

Q3 2014

Shares 15,000 Value ($000) $716 Avg Close $28.63 Range $27.61 - $30.49

Q2 2014

Shares 15,100 Value ($000) $762 Avg Close $27.05 Range $25.40 - $29.30

Q1 2014

Shares 15,100 Value ($000) $693 Avg Close $27.24 Range $25.46 - $28.54

Q4 2013

Shares 14,700 Value ($000) $721 Avg Close $26.03 Range $24.27 - $28.23

Q3 2013

Shares 14,700 Value ($000) $659 Avg Close $26.87 Range $24.85 - $28.29

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2020	23,070	$812	$24.80	$21.36 - $29.94
Q1 2020	21,760	$678	$28.50	$19.32 - $33.68
Q4 2019	21,760	$1,002	$31.89	$27.43 - $34.47
Q3 2019	21,760	$910	$29.34	$26.08 - $32.62
Q2 2019	21,660	$938	$31.37	$28.88 - $33.50
Q1 2019	26,300	$1,217	$31.79	$27.31 - $33.69
Q4 2018	31,800	$1,283	$30.46	$25.95 - $34.65
Q2 2018	31,800	$1,656	$36.35	$33.57 - $40.34
Q1 2018	24,910	$1,331	$39.21	$33.60 - $44.58
Q4 2017	24,910	$1,443	$37.59	$35.37 - $38.93
Q3 2017	26,590	$1,511	$36.51	$33.86 - $38.57
Q2 2017	29,060	$1,645	$34.75	$32.17 - $37.45
Q1 2017	23,990	$1,218	$34.17	$32.18 - $37.84
Q4 2016	23,990	$1,273	$31.25	$27.71 - $35.15
Q3 2016	13,090	$628	$29.51	$25.89 - $31.75
Q2 2016	12,980	$550	$26.29	$24.54 - $27.85
Q1 2016	20,450	$839	$22.81	$20.01 - $26.25
Q4 2015	20,450	$771	$24.89	$22.64 - $27.32
Q3 2015	20,340	$769	$27.15	$22.61 - $29.90
Q2 2015	17,080	$813	$31.50	$28.63 - $33.87
Q1 2015	12,500	$694	$32.75	$30.57 - $34.72
Q4 2014	15,000	$804	$30.67	$26.30 - $33.18
Q3 2014	15,000	$716	$28.63	$27.61 - $30.49
Q2 2014	15,100	$762	$27.05	$25.40 - $29.30
Q1 2014	15,100	$693	$27.24	$25.46 - $28.54
Q4 2013	14,700	$721	$26.03	$24.27 - $28.23
Q3 2013	14,700	$659	$26.87	$24.85 - $28.29