MICROSTRATEGY INC

Ticker: MSTR CUSIP: 594972408 Class: EQTY

Arizona State Retirement System's Holding History (CIK: 0001558481)

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

Q4 2025

Shares 72,607 Value ($000) $11,033 Avg Close $230.22 Range $151.42 - $365.21

Q3 2025

Shares 76,238 Value ($000) $24,565 Avg Close $371.01 Range $292.36 - $457.22

Q2 2025

Shares 72,315 Value ($000) $29,232 Avg Close $364.26 Range $235.93 - $430.35

Q1 2025

Shares 66,523 Value ($000) $19,177 Avg Close $317.51 Range $231.51 - $404.42

Q4 2024

Shares 53,097 Value ($000) $15,378 Avg Close $300.91 Range $157.02 - $543.00

Q3 2024

Shares 45,191 Value ($000) $7,619 Avg Close $142.97 Range $102.40 - $183.70

Q2 2024

Shares 4,327 Value ($000) $5,960 Avg Close $144.09 Range $101.00 - $174.00

Q1 2024

Shares 4,066 Value ($000) $6,931 Avg Close $91.17 Range $43.87 - $200.00

Q4 2023

Shares 3,389 Value ($000) $2,141 Avg Close $47.40 Range $30.71 - $68.94

Q3 2023

Shares 3,130 Value ($000) $1,028 Avg Close $37.65 Range $31.01 - $47.51

Q2 2023

Shares 3,083 Value ($000) $1,056 Avg Close $30.31 Range $26.60 - $35.27

Q1 2023

Shares 2,710 Value ($000) $792 Avg Close $24.41 Range $13.94 - $31.50

Q4 2022

Shares 2,634 Value ($000) $373 Avg Close $20.44 Range $13.26 - $29.00

Q3 2022

Shares 2,536 Value ($000) $538 Avg Close $25.08 Range $16.00 - $36.20

Q2 2022

Shares 2,526 Value ($000) $415 Avg Close $28.92 Range $13.41 - $50.86

Q1 2022

Shares 2,269 Value ($000) $1,103 Avg Close $43.28 Range $30.72 - $57.63

Q4 2021

Shares 2,095 Value ($000) $1,141 Avg Close $68.74 Range $52.88 - $89.14

Q3 2021

Shares 2,076 Value ($000) $1,201 Avg Close $64.12 Range $47.24 - $79.80

Q2 2021

Shares 2,072 Value ($000) $1,377 Avg Close $59.15 Range $41.16 - $88.21

Q1 2021

Shares 2,111 Value ($000) $1,433 Avg Close $70.64 Range $40.65 - $131.50

Q4 2020

Shares 2,097 Value ($000) $815 Avg Close $23.35 Range $14.52 - $40.00

Q3 2020

Shares 5,733 Value ($000) $863 Avg Close $13.52 Range $11.42 - $17.66

Q2 2020

Shares 1,821 Value ($000) $215 Avg Close $12.17 Range $10.86 - $13.13

Q1 2020

Shares 1,933 Value ($000) $228 Avg Close $13.58 Range $9.00 - $16.50

Q4 2019

Shares 5,489 Value ($000) $783 Avg Close $14.89 Range $13.96 - $15.89

Q3 2019

Shares 9,635 Value ($000) $1,430 Avg Close $13.70 Range $12.05 - $15.35

Q2 2019

Shares 12,726 Value ($000) $1,824 Avg Close $14.12 Range $13.03 - $15.24

Q1 2019

Shares 12,714 Value ($000) $1,834 Avg Close $13.84 Range $12.54 - $15.05

Q4 2018

Shares 14,525 Value ($000) $1,856 Avg Close $12.66 Range $11.55 - $14.20

Q3 2018

Shares 13,682 Value ($000) $1,924 Avg Close $14.05 Range $12.60 - $15.12

Q2 2018

Shares 13,718 Value ($000) $1,752 Avg Close $13.03 Range $12.30 - $13.70

Q1 2018

Shares 14,819 Value ($000) $1,912 Avg Close $13.46 Range $12.22 - $14.21

Q4 2017

Shares 15,819 Value ($000) $2,077 Avg Close $13.42 Range $12.80 - $14.34

Q3 2017

Shares 4,887 Value ($000) $624 Avg Close $14.54 Range $12.29 - $19.64

Q2 2017

Shares 4,887 Value ($000) $937 Avg Close $18.57 Range $17.75 - $19.46

Q1 2017

Shares 4,887 Value ($000) $918 Avg Close $19.38 Range $18.22 - $20.60

Q4 2016

Shares 4,887 Value ($000) $965 Avg Close $18.91 Range $16.27 - $20.73

Q3 2016

Shares 4,887 Value ($000) $818 Avg Close $17.21 Range $16.19 - $19.18

Q2 2016

Shares 4,887 Value ($000) $855 Avg Close $18.41 Range $16.50 - $19.60

Q1 2016

Shares 4,787 Value ($000) $860 Avg Close $16.19 Range $14.10 - $18.23

Q4 2015

Shares 4,587 Value ($000) $822 Avg Close $18.18 Range $16.42 - $20.98

Q3 2015

Shares 4,487 Value ($000) $882 Avg Close $19.82 Range $16.86 - $22.65

Q4 2014

Shares 6,300 Value ($000) $1,023 Avg Close $15.80 Range $12.75 - $17.70

Q3 2014

Shares 6,300 Value ($000) $824 Avg Close $13.91 Range $12.95 - $15.59

Q2 2014

Shares 6,700 Value ($000) $942 Avg Close $12.76 Range $9.88 - $14.61

Q1 2014

Shares 6,300 Value ($000) $726 Avg Close $12.49 Range $11.24 - $13.58

Q4 2013

Shares 7,200 Value ($000) $894 Avg Close $11.77 Range $9.52 - $13.00

Q3 2013

Shares 8,100 Value ($000) $840 Avg Close $9.74 Range $8.71 - $10.89

Q2 2013

Shares 8,200 Value ($000) $713 Avg Close $9.35 Range $8.27 - $10.50

Q1 2013

Shares 7,900 Value ($000) $798 Avg Close $10.15 Range $9.16 - $11.48

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	72,607	$11,033	$230.22	$151.42 - $365.21
Q3 2025	76,238	$24,565	$371.01	$292.36 - $457.22
Q2 2025	72,315	$29,232	$364.26	$235.93 - $430.35
Q1 2025	66,523	$19,177	$317.51	$231.51 - $404.42
Q4 2024	53,097	$15,378	$300.91	$157.02 - $543.00
Q3 2024	45,191	$7,619	$142.97	$102.40 - $183.70
Q2 2024	4,327	$5,960	$144.09	$101.00 - $174.00
Q1 2024	4,066	$6,931	$91.17	$43.87 - $200.00
Q4 2023	3,389	$2,141	$47.40	$30.71 - $68.94
Q3 2023	3,130	$1,028	$37.65	$31.01 - $47.51
Q2 2023	3,083	$1,056	$30.31	$26.60 - $35.27
Q1 2023	2,710	$792	$24.41	$13.94 - $31.50
Q4 2022	2,634	$373	$20.44	$13.26 - $29.00
Q3 2022	2,536	$538	$25.08	$16.00 - $36.20
Q2 2022	2,526	$415	$28.92	$13.41 - $50.86
Q1 2022	2,269	$1,103	$43.28	$30.72 - $57.63
Q4 2021	2,095	$1,141	$68.74	$52.88 - $89.14
Q3 2021	2,076	$1,201	$64.12	$47.24 - $79.80
Q2 2021	2,072	$1,377	$59.15	$41.16 - $88.21
Q1 2021	2,111	$1,433	$70.64	$40.65 - $131.50
Q4 2020	2,097	$815	$23.35	$14.52 - $40.00
Q3 2020	5,733	$863	$13.52	$11.42 - $17.66
Q2 2020	1,821	$215	$12.17	$10.86 - $13.13
Q1 2020	1,933	$228	$13.58	$9.00 - $16.50
Q4 2019	5,489	$783	$14.89	$13.96 - $15.89
Q3 2019	9,635	$1,430	$13.70	$12.05 - $15.35
Q2 2019	12,726	$1,824	$14.12	$13.03 - $15.24
Q1 2019	12,714	$1,834	$13.84	$12.54 - $15.05
Q4 2018	14,525	$1,856	$12.66	$11.55 - $14.20
Q3 2018	13,682	$1,924	$14.05	$12.60 - $15.12
Q2 2018	13,718	$1,752	$13.03	$12.30 - $13.70
Q1 2018	14,819	$1,912	$13.46	$12.22 - $14.21
Q4 2017	15,819	$2,077	$13.42	$12.80 - $14.34
Q3 2017	4,887	$624	$14.54	$12.29 - $19.64
Q2 2017	4,887	$937	$18.57	$17.75 - $19.46
Q1 2017	4,887	$918	$19.38	$18.22 - $20.60
Q4 2016	4,887	$965	$18.91	$16.27 - $20.73
Q3 2016	4,887	$818	$17.21	$16.19 - $19.18
Q2 2016	4,887	$855	$18.41	$16.50 - $19.60
Q1 2016	4,787	$860	$16.19	$14.10 - $18.23
Q4 2015	4,587	$822	$18.18	$16.42 - $20.98
Q3 2015	4,487	$882	$19.82	$16.86 - $22.65
Q4 2014	6,300	$1,023	$15.80	$12.75 - $17.70
Q3 2014	6,300	$824	$13.91	$12.95 - $15.59
Q2 2014	6,700	$942	$12.76	$9.88 - $14.61
Q1 2014	6,300	$726	$12.49	$11.24 - $13.58
Q4 2013	7,200	$894	$11.77	$9.52 - $13.00
Q3 2013	8,100	$840	$9.74	$8.71 - $10.89
Q2 2013	8,200	$713	$9.35	$8.27 - $10.50
Q1 2013	7,900	$798	$10.15	$9.16 - $11.48