MURPHY USA INC

Ticker: MUSA CUSIP: 626755102 Class: EQTY

Douglass Winthrop Advisors, LLC's Holding History (CIK: 0001308527)

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

Q4 2014

Shares 4,800 Value ($000) $331 Avg Close $57.70 Range $47.35 - $68.21

Q3 2014

Shares 4,800 Value ($000) $255 Avg Close $50.27 Range $45.88 - $54.80

Q2 2014

Shares 4,800 Value ($000) $235 Avg Close $45.04 Range $38.73 - $51.26

Q1 2014

Shares 5,662 Value ($000) $230 Avg Close $39.32 Range $36.05 - $42.65

Q4 2013

Shares 5,662 Value ($000) $235 Avg Close $41.23 Range $38.17 - $45.60

Q3 2013

Shares 5,662 Value ($000) $229 Avg Close $38.02 Range $35.11 - $40.42

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	4,800	$331	$57.70	$47.35 - $68.21
Q3 2014	4,800	$255	$50.27	$45.88 - $54.80
Q2 2014	4,800	$235	$45.04	$38.73 - $51.26
Q1 2014	5,662	$230	$39.32	$36.05 - $42.65
Q4 2013	5,662	$235	$41.23	$38.17 - $45.60
Q3 2013	5,662	$229	$38.02	$35.11 - $40.42