MORGAN STANLEY

Ticker: MS CUSIP: 617446448 Class: COM

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

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

Q4 2025

Shares 316,226 Value ($000) $56,140 Avg Close $166.47 Range $150.92 - $182.34

Q3 2025

Shares 328,126 Value ($000) $52,159 Avg Close $146.45 Range $133.51 - $162.99

Q2 2025

Shares 335,926 Value ($000) $47,319 Avg Close $120.96 Range $92.37 - $140.07

Q1 2025

Shares 335,726 Value ($000) $39,169 Avg Close $125.91 Range $106.95 - $139.08

Q4 2024

Shares 336,726 Value ($000) $42,333 Avg Close $119.51 Range $99.47 - $132.53

Q3 2024

Shares 339,226 Value ($000) $35,361 Avg Close $96.90 Range $87.77 - $104.37

Q2 2024

Shares 342,726 Value ($000) $33,310 Avg Close $90.80 Range $80.57 - $98.76

Q1 2024

Shares 343,226 Value ($000) $32,318 Avg Close $83.21 Range $78.09 - $89.78

Q4 2023

Shares 346,026 Value ($000) $32,267 Avg Close $74.81 Range $65.08 - $88.18

Q3 2023

Shares 349,726 Value ($000) $28,562 Avg Close $80.29 Range $75.13 - $87.80

Q2 2023

Shares 358,226 Value ($000) $30,593 Avg Close $78.37 Range $74.18 - $83.63

Q1 2023

Shares 358,826 Value ($000) $31,505 Avg Close $84.81 Range $74.44 - $91.99

Q4 2022

Shares 358,326 Value ($000) $30,465 Avg Close $76.80 Range $66.82 - $85.98

Q3 2022

Shares 362,426 Value ($000) $28,635 Avg Close $75.24 Range $63.87 - $82.59

Q2 2022

Shares 377,526 Value ($000) $28,715 Avg Close $72.42 Range $64.03 - $81.68

Q1 2022

Shares 357,626 Value ($000) $31,257 Avg Close $84.62 Range $72.05 - $96.45

Q4 2021

Shares 361,422 Value ($000) $35,477 Avg Close $86.77 Range $81.94 - $91.95

Q3 2021

Shares 366,522 Value ($000) $35,666 Avg Close $85.71 Range $74.82 - $91.84

Q2 2021

Shares 1,033,522 Value ($000) $94,764 Avg Close $73.70 Range $65.34 - $81.12

Q1 2021

Shares 390,622 Value ($000) $30,336 Avg Close $65.58 Range $57.28 - $74.24

Q4 2020

Shares 373,422 Value ($000) $25,591 Avg Close $48.82 Range $39.28 - $58.80

Q3 2020

Shares 326,245 Value ($000) $15,774 Avg Close $42.54 Range $38.81 - $46.02

Q2 2020

Shares 305,845 Value ($000) $14,772 Avg Close $35.21 Range $25.96 - $43.57

Q1 2020

Shares 266,955 Value ($000) $9,076 Avg Close $39.15 Range $22.66 - $47.65

Q4 2019

Shares 297,455 Value ($000) $15,206 Avg Close $39.09 Range $32.28 - $42.57

Q3 2019

Shares 301,955 Value ($000) $12,884 Avg Close $35.02 Range $31.84 - $37.33

Q2 2019

Shares 306,055 Value ($000) $13,408 Avg Close $36.28 Range $32.95 - $39.67

Q1 2019

Shares 374,255 Value ($000) $15,794 Avg Close $34.01 Range $31.17 - $36.36

Q4 2018

Shares 374,255 Value ($000) $14,839 Avg Close $35.01 Range $29.55 - $38.29

Q3 2018

Shares 395,155 Value ($000) $18,402 Avg Close $38.94 Range $36.75 - $40.98

Q2 2018

Shares 403,555 Value ($000) $19,129 Avg Close $41.43 Range $37.41 - $44.18

Q1 2018

Shares 406,155 Value ($000) $21,916 Avg Close $43.68 Range $39.53 - $46.93

Q4 2017

Shares 408,055 Value ($000) $21,411 Avg Close $39.73 Range $37.31 - $42.69

Q3 2017

Shares 429,155 Value ($000) $20,672 Avg Close $36.26 Range $34.33 - $38.29

Q2 2017

Shares 468,155 Value ($000) $20,861 Avg Close $33.54 Range $31.40 - $35.81

Q1 2017

Shares 471,955 Value ($000) $20,219 Avg Close $34.36 Range $31.06 - $36.70

Q4 2016

Shares 471,655 Value ($000) $19,927 Avg Close $29.14 Range $23.75 - $33.99

Q3 2016

Shares 513,755 Value ($000) $16,471 Avg Close $22.85 Range $18.72 - $24.89

Q2 2016

Shares 524,855 Value ($000) $13,636 Avg Close $19.90 Range $17.61 - $21.56

Q1 2016

Shares 525,955 Value ($000) $13,154 Avg Close $19.31 Range $16.04 - $23.88

Q4 2015

Shares 516,555 Value ($000) $16,432 Avg Close $25.00 Range $22.61 - $26.92

Q3 2015

Shares 550,355 Value ($000) $17,336 Avg Close $27.26 Range $22.80 - $30.66

Q2 2015

Shares 595,955 Value ($000) $23,117 Avg Close $28.39 Range $26.31 - $30.07

Q1 2015

Shares 594,755 Value ($000) $21,227 Avg Close $26.67 Range $25.09 - $29.04

Q4 2014

Shares 628,855 Value ($000) $24,400 Avg Close $26.37 Range $23.19 - $29.07

Q3 2014

Shares 627,855 Value ($000) $21,705 Avg Close $24.62 Range $23.01 - $26.95

Q2 2014

Shares 573,455 Value ($000) $18,540 Avg Close $22.71 Range $20.81 - $24.20

Q1 2014

Shares 872,555 Value ($000) $27,198 Avg Close $22.70 Range $21.15 - $24.60

Q4 2013

Shares 1,460,255 Value ($000) $45,794 Avg Close $21.80 Range $19.35 - $23.37

Q3 2013

Shares 1,462,655 Value ($000) $39,419 Avg Close $19.65 Range $17.42 - $21.61

Q2 2013

Shares 1,454,255 Value ($000) $35,527 Avg Close $17.33 Range $14.71 - $19.87

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	316,226	$56,140	$166.47	$150.92 - $182.34
Q3 2025	328,126	$52,159	$146.45	$133.51 - $162.99
Q2 2025	335,926	$47,319	$120.96	$92.37 - $140.07
Q1 2025	335,726	$39,169	$125.91	$106.95 - $139.08
Q4 2024	336,726	$42,333	$119.51	$99.47 - $132.53
Q3 2024	339,226	$35,361	$96.90	$87.77 - $104.37
Q2 2024	342,726	$33,310	$90.80	$80.57 - $98.76
Q1 2024	343,226	$32,318	$83.21	$78.09 - $89.78
Q4 2023	346,026	$32,267	$74.81	$65.08 - $88.18
Q3 2023	349,726	$28,562	$80.29	$75.13 - $87.80
Q2 2023	358,226	$30,593	$78.37	$74.18 - $83.63
Q1 2023	358,826	$31,505	$84.81	$74.44 - $91.99
Q4 2022	358,326	$30,465	$76.80	$66.82 - $85.98
Q3 2022	362,426	$28,635	$75.24	$63.87 - $82.59
Q2 2022	377,526	$28,715	$72.42	$64.03 - $81.68
Q1 2022	357,626	$31,257	$84.62	$72.05 - $96.45
Q4 2021	361,422	$35,477	$86.77	$81.94 - $91.95
Q3 2021	366,522	$35,666	$85.71	$74.82 - $91.84
Q2 2021	1,033,522	$94,764	$73.70	$65.34 - $81.12
Q1 2021	390,622	$30,336	$65.58	$57.28 - $74.24
Q4 2020	373,422	$25,591	$48.82	$39.28 - $58.80
Q3 2020	326,245	$15,774	$42.54	$38.81 - $46.02
Q2 2020	305,845	$14,772	$35.21	$25.96 - $43.57
Q1 2020	266,955	$9,076	$39.15	$22.66 - $47.65
Q4 2019	297,455	$15,206	$39.09	$32.28 - $42.57
Q3 2019	301,955	$12,884	$35.02	$31.84 - $37.33
Q2 2019	306,055	$13,408	$36.28	$32.95 - $39.67
Q1 2019	374,255	$15,794	$34.01	$31.17 - $36.36
Q4 2018	374,255	$14,839	$35.01	$29.55 - $38.29
Q3 2018	395,155	$18,402	$38.94	$36.75 - $40.98
Q2 2018	403,555	$19,129	$41.43	$37.41 - $44.18
Q1 2018	406,155	$21,916	$43.68	$39.53 - $46.93
Q4 2017	408,055	$21,411	$39.73	$37.31 - $42.69
Q3 2017	429,155	$20,672	$36.26	$34.33 - $38.29
Q2 2017	468,155	$20,861	$33.54	$31.40 - $35.81
Q1 2017	471,955	$20,219	$34.36	$31.06 - $36.70
Q4 2016	471,655	$19,927	$29.14	$23.75 - $33.99
Q3 2016	513,755	$16,471	$22.85	$18.72 - $24.89
Q2 2016	524,855	$13,636	$19.90	$17.61 - $21.56
Q1 2016	525,955	$13,154	$19.31	$16.04 - $23.88
Q4 2015	516,555	$16,432	$25.00	$22.61 - $26.92
Q3 2015	550,355	$17,336	$27.26	$22.80 - $30.66
Q2 2015	595,955	$23,117	$28.39	$26.31 - $30.07
Q1 2015	594,755	$21,227	$26.67	$25.09 - $29.04
Q4 2014	628,855	$24,400	$26.37	$23.19 - $29.07
Q3 2014	627,855	$21,705	$24.62	$23.01 - $26.95
Q2 2014	573,455	$18,540	$22.71	$20.81 - $24.20
Q1 2014	872,555	$27,198	$22.70	$21.15 - $24.60
Q4 2013	1,460,255	$45,794	$21.80	$19.35 - $23.37
Q3 2013	1,462,655	$39,419	$19.65	$17.42 - $21.61
Q2 2013	1,454,255	$35,527	$17.33	$14.71 - $19.87