MARSH & MCLENNAN COS INC

Ticker: MRSH CUSIP: 571748102 Class: COM

STATE OF MICHIGAN RETIREMENT SYSTEM's Holding History (CIK: 0000762152)

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

Q4 2025

Shares 132,575 Value ($000) $24,595 Avg Close $186.43 Range $173.30 - $207.83

Q3 2025

Shares 138,975 Value ($000) $28,008 Avg Close $204.01 Range $193.16 - $217.79

Q2 2025

Shares 139,975 Value ($000) $30,604 Avg Close $223.19 Range $207.03 - $245.83

Q1 2025

Shares 140,675 Value ($000) $34,329 Avg Close $223.35 Range $202.92 - $243.01

Q4 2024

Shares 140,675 Value ($000) $29,881 Avg Close $217.77 Range $205.01 - $231.80

Q3 2024

Shares 142,075 Value ($000) $31,696 Avg Close $216.92 Range $203.69 - $227.83

Q2 2024

Shares 143,175 Value ($000) $30,170 Avg Close $200.17 Range $190.69 - $211.90

Q1 2024

Shares 142,875 Value ($000) $29,429 Avg Close $193.37 Range $182.28 - $203.67

Q4 2023

Shares 143,075 Value ($000) $27,108 Avg Close $186.95 Range $177.61 - $196.74

Q3 2023

Shares 143,275 Value ($000) $27,265 Avg Close $184.60 Range $176.10 - $192.52

Q2 2023

Shares 145,875 Value ($000) $27,436 Avg Close $170.44 Range $158.35 - $182.02

Q1 2023

Shares 159,975 Value ($000) $26,644 Avg Close $159.32 Range $144.98 - $169.70

Q4 2022

Shares 158,775 Value ($000) $26,274 Avg Close $155.95 Range $140.95 - $169.03

Q3 2022

Shares 135,075 Value ($000) $20,165 Avg Close $152.34 Range $138.65 - $166.00

Q2 2022

Shares 135,375 Value ($000) $21,017 Avg Close $151.71 Range $135.36 - $173.83

Q1 2022

Shares 127,275 Value ($000) $21,690 Avg Close $148.65 Range $134.43 - $164.01

Q4 2021

Shares 127,136 Value ($000) $22,099 Avg Close $156.21 Range $141.53 - $165.13

Q3 2021

Shares 127,236 Value ($000) $19,267 Avg Close $141.63 Range $128.41 - $152.48

Q2 2021

Shares 127,836 Value ($000) $17,984 Avg Close $125.21 Range $112.59 - $132.40

Q1 2021

Shares 127,536 Value ($000) $15,534 Avg Close $107.02 Range $98.83 - $113.89

Q4 2020

Shares 127,536 Value ($000) $14,922 Avg Close $105.23 Range $94.36 - $110.82

Q3 2020

Shares 129,236 Value ($000) $14,823 Avg Close $105.63 Range $97.93 - $111.90

Q2 2020

Shares 130,336 Value ($000) $13,994 Avg Close $93.00 Range $71.99 - $103.18

Q1 2020

Shares 115,701 Value ($000) $10,004 Avg Close $97.35 Range $67.78 - $109.87

Q4 2019

Shares 122,101 Value ($000) $13,603 Avg Close $95.06 Range $86.01 - $104.01

Q3 2019

Shares 121,701 Value ($000) $12,176 Avg Close $90.54 Range $85.70 - $93.91

Q2 2019

Shares 122,401 Value ($000) $12,209 Avg Close $86.29 Range $82.49 - $90.62

Q1 2019

Shares 145,601 Value ($000) $13,672 Avg Close $79.33 Range $69.39 - $85.50

Q4 2018

Shares 144,201 Value ($000) $11,500 Avg Close $74.46 Range $66.23 - $80.27

Q3 2018

Shares 150,501 Value ($000) $12,449 Avg Close $75.30 Range $71.83 - $78.35

Q2 2018

Shares 150,201 Value ($000) $12,312 Avg Close $72.21 Range $69.38 - $74.98

Q1 2018

Shares 149,401 Value ($000) $12,339 Avg Close $72.87 Range $69.13 - $75.89

Q4 2017

Shares 149,601 Value ($000) $12,176 Avg Close $72.87 Range $70.08 - $76.08

Q3 2017

Shares 155,501 Value ($000) $13,033 Avg Close $69.18 Range $66.77 - $73.79

Q2 2017

Shares 169,401 Value ($000) $13,207 Avg Close $65.59 Range $62.21 - $70.09

Q1 2017

Shares 169,201 Value ($000) $12,502 Avg Close $61.73 Range $57.29 - $65.47

Q4 2016

Shares 168,601 Value ($000) $11,396 Avg Close $57.67 Range $53.49 - $60.18

Q3 2016

Shares 180,877 Value ($000) $12,164 Avg Close $57.32 Range $55.91 - $58.65

Q2 2016

Shares 181,077 Value ($000) $12,397 Avg Close $54.66 Range $50.84 - $58.55

Q1 2016

Shares 179,477 Value ($000) $10,910 Avg Close $47.39 Range $42.68 - $51.78

Q4 2015

Shares 178,377 Value ($000) $9,891 Avg Close $46.40 Range $42.63 - $48.51

Q3 2015

Shares 191,577 Value ($000) $10,004 Avg Close $46.73 Range $42.51 - $49.38

Q2 2015

Shares 208,777 Value ($000) $11,838 Avg Close $48.09 Range $46.11 - $50.08

Q1 2015

Shares 207,877 Value ($000) $11,660 Avg Close $46.67 Range $44.22 - $48.27

Q4 2014

Shares 222,777 Value ($000) $12,752 Avg Close $45.21 Range $40.02 - $48.56

Q3 2014

Shares 223,177 Value ($000) $11,681 Avg Close $42.74 Range $40.97 - $44.10

Q2 2014

Shares 225,177 Value ($000) $11,669 Avg Close $40.50 Range $38.06 - $42.84

Q1 2014

Shares 223,777 Value ($000) $11,032 Avg Close $38.81 Range $35.81 - $41.06

Q4 2013

Shares 223,077 Value ($000) $10,788 Avg Close $37.39 Range $33.79 - $39.29

Q3 2013

Shares 223,577 Value ($000) $9,737 Avg Close $33.72 Range $31.78 - $35.90

Q2 2013

Shares 223,577 Value ($000) $8,925 Avg Close $31.19 Range $29.36 - $33.32

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	132,575	$24,595	$186.43	$173.30 - $207.83
Q3 2025	138,975	$28,008	$204.01	$193.16 - $217.79
Q2 2025	139,975	$30,604	$223.19	$207.03 - $245.83
Q1 2025	140,675	$34,329	$223.35	$202.92 - $243.01
Q4 2024	140,675	$29,881	$217.77	$205.01 - $231.80
Q3 2024	142,075	$31,696	$216.92	$203.69 - $227.83
Q2 2024	143,175	$30,170	$200.17	$190.69 - $211.90
Q1 2024	142,875	$29,429	$193.37	$182.28 - $203.67
Q4 2023	143,075	$27,108	$186.95	$177.61 - $196.74
Q3 2023	143,275	$27,265	$184.60	$176.10 - $192.52
Q2 2023	145,875	$27,436	$170.44	$158.35 - $182.02
Q1 2023	159,975	$26,644	$159.32	$144.98 - $169.70
Q4 2022	158,775	$26,274	$155.95	$140.95 - $169.03
Q3 2022	135,075	$20,165	$152.34	$138.65 - $166.00
Q2 2022	135,375	$21,017	$151.71	$135.36 - $173.83
Q1 2022	127,275	$21,690	$148.65	$134.43 - $164.01
Q4 2021	127,136	$22,099	$156.21	$141.53 - $165.13
Q3 2021	127,236	$19,267	$141.63	$128.41 - $152.48
Q2 2021	127,836	$17,984	$125.21	$112.59 - $132.40
Q1 2021	127,536	$15,534	$107.02	$98.83 - $113.89
Q4 2020	127,536	$14,922	$105.23	$94.36 - $110.82
Q3 2020	129,236	$14,823	$105.63	$97.93 - $111.90
Q2 2020	130,336	$13,994	$93.00	$71.99 - $103.18
Q1 2020	115,701	$10,004	$97.35	$67.78 - $109.87
Q4 2019	122,101	$13,603	$95.06	$86.01 - $104.01
Q3 2019	121,701	$12,176	$90.54	$85.70 - $93.91
Q2 2019	122,401	$12,209	$86.29	$82.49 - $90.62
Q1 2019	145,601	$13,672	$79.33	$69.39 - $85.50
Q4 2018	144,201	$11,500	$74.46	$66.23 - $80.27
Q3 2018	150,501	$12,449	$75.30	$71.83 - $78.35
Q2 2018	150,201	$12,312	$72.21	$69.38 - $74.98
Q1 2018	149,401	$12,339	$72.87	$69.13 - $75.89
Q4 2017	149,601	$12,176	$72.87	$70.08 - $76.08
Q3 2017	155,501	$13,033	$69.18	$66.77 - $73.79
Q2 2017	169,401	$13,207	$65.59	$62.21 - $70.09
Q1 2017	169,201	$12,502	$61.73	$57.29 - $65.47
Q4 2016	168,601	$11,396	$57.67	$53.49 - $60.18
Q3 2016	180,877	$12,164	$57.32	$55.91 - $58.65
Q2 2016	181,077	$12,397	$54.66	$50.84 - $58.55
Q1 2016	179,477	$10,910	$47.39	$42.68 - $51.78
Q4 2015	178,377	$9,891	$46.40	$42.63 - $48.51
Q3 2015	191,577	$10,004	$46.73	$42.51 - $49.38
Q2 2015	208,777	$11,838	$48.09	$46.11 - $50.08
Q1 2015	207,877	$11,660	$46.67	$44.22 - $48.27
Q4 2014	222,777	$12,752	$45.21	$40.02 - $48.56
Q3 2014	223,177	$11,681	$42.74	$40.97 - $44.10
Q2 2014	225,177	$11,669	$40.50	$38.06 - $42.84
Q1 2014	223,777	$11,032	$38.81	$35.81 - $41.06
Q4 2013	223,077	$10,788	$37.39	$33.79 - $39.29
Q3 2013	223,577	$9,737	$33.72	$31.78 - $35.90
Q2 2013	223,577	$8,925	$31.19	$29.36 - $33.32