MDU RES GROUP INC

Ticker: MDU CUSIP: 552690109 Class: COM

STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM's Holding History (CIK: 0000938076)

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

Q4 2025

Shares 319,670 Value ($000) $6,240 Avg Close $19.57 Range $17.31 - $21.34

Q3 2025

Shares 329,093 Value ($000) $5,861 Avg Close $16.46 Range $15.63 - $17.87

Q2 2025

Shares 331,531 Value ($000) $5,527 Avg Close $16.45 Range $14.69 - $17.49

Q1 2025

Shares 330,950 Value ($000) $5,596 Avg Close $16.76 Range $15.90 - $18.33

Q4 2024

Shares 216,038 Value ($000) $3,893 Avg Close $16.91 Range $14.27 - $19.63

Q3 2024

Shares 216,832 Value ($000) $5,943 Avg Close $13.65 Range $12.67 - $14.89

Q2 2024

Shares 216,038 Value ($000) $5,423 Avg Close $13.17 Range $12.37 - $13.72

Q1 2024

Shares 280,244 Value ($000) $8,542 Avg Close $10.98 Range $9.86 - $13.32

Q4 2023

Shares 216,841 Value ($000) $4,293 Avg Close $9.95 Range $9.41 - $10.65

Q3 2023

Shares 216,038 Value ($000) $4,230 Avg Close $10.78 Range $10.08 - $11.69

Q2 2023

Shares 260,546 Value ($000) $5,456 Avg Close $10.43 Range $9.61 - $10.94

Q1 2023

Shares 280,244 Value ($000) $8,542 Avg Close $10.70 Range $9.98 - $11.37

Q4 2022

Shares 280,244 Value ($000) $8,503 Avg Close $10.27 Range $9.29 - $11.06

Q3 2022

Shares 296,194 Value ($000) $8,101 Avg Close $10.02 Range $8.94 - $11.08

Q2 2022

Shares 311,366 Value ($000) $8,404 Avg Close $9.15 Range $8.51 - $9.69

Q1 2022

Shares 326,498 Value ($000) $8,701 Avg Close $9.45 Range $8.60 - $10.74

Q4 2021

Shares 308,866 Value ($000) $9,525 Avg Close $9.99 Range $9.15 - $10.63

Q3 2021

Shares 290,744 Value ($000) $8,626 Avg Close $10.53 Range $9.83 - $11.13

Q2 2021

Shares 294,125 Value ($000) $9,218 Avg Close $10.95 Range $10.22 - $11.62

Q1 2021

Shares 312,122 Value ($000) $9,866 Avg Close $9.46 Range $8.38 - $10.66

Q4 2020

Shares 334,352 Value ($000) $8,807 Avg Close $8.05 Range $7.18 - $8.74

Q3 2020

Shares 335,162 Value ($000) $7,541 Avg Close $7.32 Range $6.58 - $8.03

Q2 2020

Shares 335,162 Value ($000) $7,434 Avg Close $7.03 Range $5.94 - $8.01

Q1 2020

Shares 334,867 Value ($000) $7,200 Avg Close $8.83 Range $4.81 - $10.26

Q4 2019

Shares 322,507 Value ($000) $9,582 Avg Close $9.10 Range $8.60 - $9.50

Q3 2019

Shares 323,277 Value ($000) $9,113 Avg Close $8.44 Range $7.93 - $9.12

Q2 2019

Shares 335,825 Value ($000) $8,664 Avg Close $7.99 Range $7.59 - $8.30

Q1 2019

Shares 305,766 Value ($000) $7,898 Avg Close $7.90 Range $7.22 - $8.40

Q4 2018

Shares 306,696 Value ($000) $7,312 Avg Close $7.88 Range $7.03 - $8.27

Q3 2018

Shares 305,395 Value ($000) $7,846 Avg Close $8.58 Range $7.77 - $9.02

Q2 2018

Shares 305,395 Value ($000) $8,759 Avg Close $8.49 Range $8.18 - $8.87

Q1 2018

Shares 302,643 Value ($000) $8,522 Avg Close $8.03 Range $7.29 - $8.53

Q4 2017

Shares 301,068 Value ($000) $8,093 Avg Close $8.04 Range $7.71 - $8.41

Q3 2017

Shares 301,068 Value ($000) $7,813 Avg Close $7.77 Range $7.44 - $8.20

Q2 2017

Shares 301,068 Value ($000) $7,888 Avg Close $7.92 Range $7.51 - $8.25

Q1 2017

Shares 346,981 Value ($000) $9,497 Avg Close $8.03 Range $7.53 - $8.67

Q4 2016

Shares 345,750 Value ($000) $9,947 Avg Close $7.89 Range $7.09 - $8.72

Q3 2016

Shares 337,452 Value ($000) $8,585 Avg Close $6.91 Range $6.46 - $7.47

Q2 2016

Shares 319,218 Value ($000) $7,661 Avg Close $6.12 Range $5.33 - $6.90

Q1 2016

Shares 270,469 Value ($000) $5,263 Avg Close $5.02 Range $4.40 - $5.57

Q4 2015

Shares 270,469 Value ($000) $4,955 Avg Close $5.10 Range $4.59 - $5.49

Q3 2015

Shares 279,639 Value ($000) $4,810 Avg Close $4.95 Range $4.48 - $5.44

Q2 2015

Shares 279,639 Value ($000) $5,461 Avg Close $5.79 Range $5.30 - $6.32

Q1 2015

Shares 279,639 Value ($000) $5,967 Avg Close $6.06 Range $5.47 - $6.65

Q4 2014

Shares 303,984 Value ($000) $7,144 Avg Close $6.84 Range $5.78 - $7.67

Q3 2014

Shares 304,153 Value ($000) $8,458 Avg Close $8.38 Range $7.36 - $9.47

Q2 2014

Shares 304,888 Value ($000) $10,702 Avg Close $9.15 Range $8.68 - $9.59

Q1 2014

Shares 305,540 Value ($000) $10,483 Avg Close $8.65 Range $7.84 - $9.29

Q4 2013

Shares 345,351 Value ($000) $10,550 Avg Close $7.80 Range $7.24 - $8.15

Q3 2013

Shares 345,630 Value ($000) $9,667 Avg Close $7.25 Range $6.78 - $7.90

Q2 2013

Shares 353,965 Value ($000) $9,171 Avg Close $6.58 Range $6.07 - $7.05

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	319,670	$6,240	$19.57	$17.31 - $21.34
Q3 2025	329,093	$5,861	$16.46	$15.63 - $17.87
Q2 2025	331,531	$5,527	$16.45	$14.69 - $17.49
Q1 2025	330,950	$5,596	$16.76	$15.90 - $18.33
Q4 2024	216,038	$3,893	$16.91	$14.27 - $19.63
Q3 2024	216,832	$5,943	$13.65	$12.67 - $14.89
Q2 2024	216,038	$5,423	$13.17	$12.37 - $13.72
Q1 2024	280,244	$8,542	$10.98	$9.86 - $13.32
Q4 2023	216,841	$4,293	$9.95	$9.41 - $10.65
Q3 2023	216,038	$4,230	$10.78	$10.08 - $11.69
Q2 2023	260,546	$5,456	$10.43	$9.61 - $10.94
Q1 2023	280,244	$8,542	$10.70	$9.98 - $11.37
Q4 2022	280,244	$8,503	$10.27	$9.29 - $11.06
Q3 2022	296,194	$8,101	$10.02	$8.94 - $11.08
Q2 2022	311,366	$8,404	$9.15	$8.51 - $9.69
Q1 2022	326,498	$8,701	$9.45	$8.60 - $10.74
Q4 2021	308,866	$9,525	$9.99	$9.15 - $10.63
Q3 2021	290,744	$8,626	$10.53	$9.83 - $11.13
Q2 2021	294,125	$9,218	$10.95	$10.22 - $11.62
Q1 2021	312,122	$9,866	$9.46	$8.38 - $10.66
Q4 2020	334,352	$8,807	$8.05	$7.18 - $8.74
Q3 2020	335,162	$7,541	$7.32	$6.58 - $8.03
Q2 2020	335,162	$7,434	$7.03	$5.94 - $8.01
Q1 2020	334,867	$7,200	$8.83	$4.81 - $10.26
Q4 2019	322,507	$9,582	$9.10	$8.60 - $9.50
Q3 2019	323,277	$9,113	$8.44	$7.93 - $9.12
Q2 2019	335,825	$8,664	$7.99	$7.59 - $8.30
Q1 2019	305,766	$7,898	$7.90	$7.22 - $8.40
Q4 2018	306,696	$7,312	$7.88	$7.03 - $8.27
Q3 2018	305,395	$7,846	$8.58	$7.77 - $9.02
Q2 2018	305,395	$8,759	$8.49	$8.18 - $8.87
Q1 2018	302,643	$8,522	$8.03	$7.29 - $8.53
Q4 2017	301,068	$8,093	$8.04	$7.71 - $8.41
Q3 2017	301,068	$7,813	$7.77	$7.44 - $8.20
Q2 2017	301,068	$7,888	$7.92	$7.51 - $8.25
Q1 2017	346,981	$9,497	$8.03	$7.53 - $8.67
Q4 2016	345,750	$9,947	$7.89	$7.09 - $8.72
Q3 2016	337,452	$8,585	$6.91	$6.46 - $7.47
Q2 2016	319,218	$7,661	$6.12	$5.33 - $6.90
Q1 2016	270,469	$5,263	$5.02	$4.40 - $5.57
Q4 2015	270,469	$4,955	$5.10	$4.59 - $5.49
Q3 2015	279,639	$4,810	$4.95	$4.48 - $5.44
Q2 2015	279,639	$5,461	$5.79	$5.30 - $6.32
Q1 2015	279,639	$5,967	$6.06	$5.47 - $6.65
Q4 2014	303,984	$7,144	$6.84	$5.78 - $7.67
Q3 2014	304,153	$8,458	$8.38	$7.36 - $9.47
Q2 2014	304,888	$10,702	$9.15	$8.68 - $9.59
Q1 2014	305,540	$10,483	$8.65	$7.84 - $9.29
Q4 2013	345,351	$10,550	$7.80	$7.24 - $8.15
Q3 2013	345,630	$9,667	$7.25	$6.78 - $7.90
Q2 2013	353,965	$9,171	$6.58	$6.07 - $7.05