NASDAQ INC

Ticker: NDAQ CUSIP: 631103108 Class: COM

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

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

Q4 2025

Shares 118,090 Value ($000) $11,470 Avg Close $89.74 Range $84.51 - $99.59

Q3 2025

Shares 122,590 Value ($000) $10,843 Avg Close $92.14 Range $85.86 - $97.06

Q2 2025

Shares 112,390 Value ($000) $10,050 Avg Close $79.17 Range $64.26 - $89.12

Q1 2025

Shares 112,290 Value ($000) $8,518 Avg Close $77.78 Range $70.93 - $83.12

Q4 2024

Shares 112,290 Value ($000) $8,681 Avg Close $76.22 Range $69.54 - $82.51

Q3 2024

Shares 112,690 Value ($000) $8,227 Avg Close $67.05 Range $58.37 - $73.75

Q2 2024

Shares 104,190 Value ($000) $6,278 Avg Close $59.26 Range $56.80 - $62.81

Q1 2024

Shares 103,990 Value ($000) $6,562 Avg Close $56.40 Range $53.48 - $62.10

Q4 2023

Shares 93,190 Value ($000) $5,418 Avg Close $51.21 Range $45.48 - $56.86

Q3 2023

Shares 92,890 Value ($000) $4,514 Avg Close $48.99 Range $46.45 - $52.31

Q2 2023

Shares 93,090 Value ($000) $4,641 Avg Close $52.14 Range $47.29 - $55.82

Q1 2023

Shares 93,090 Value ($000) $5,089 Avg Close $55.41 Range $49.15 - $61.23

Q4 2022

Shares 92,090 Value ($000) $5,650 Avg Close $59.57 Range $52.22 - $66.33

Q3 2022

Shares 91,690 Value ($000) $5,197 Avg Close $56.05 Range $48.10 - $61.70

Q2 2022

Shares 31,130 Value ($000) $4,749 Avg Close $50.24 Range $44.37 - $58.40

Q1 2022

Shares 29,530 Value ($000) $5,262 Avg Close $55.99 Range $50.74 - $66.46

Q4 2021

Shares 29,450 Value ($000) $6,185 Avg Close $64.29 Range $59.33 - $67.57

Q3 2021

Shares 29,350 Value ($000) $5,665 Avg Close $59.23 Range $54.41 - $62.83

Q2 2021

Shares 28,850 Value ($000) $5,072 Avg Close $51.63 Range $46.15 - $56.59

Q1 2021

Shares 28,950 Value ($000) $4,269 Avg Close $44.40 Range $40.70 - $47.33

Q4 2020

Shares 28,850 Value ($000) $3,830 Avg Close $39.45 Range $37.15 - $43.28

Q3 2020

Shares 29,350 Value ($000) $3,602 Avg Close $39.57 Range $36.61 - $42.63

Q2 2020

Shares 29,350 Value ($000) $3,506 Avg Close $34.41 Range $27.70 - $37.75

Q1 2020

Shares 26,311 Value ($000) $2,498 Avg Close $32.57 Range $22.06 - $36.83

Q4 2019

Shares 27,711 Value ($000) $2,968 Avg Close $31.21 Range $29.06 - $33.17

Q3 2019

Shares 27,711 Value ($000) $2,753 Avg Close $30.30 Range $28.36 - $31.95

Q2 2019

Shares 27,811 Value ($000) $2,675 Avg Close $27.79 Range $26.13 - $29.96

Q1 2019

Shares 33,411 Value ($000) $2,923 Avg Close $25.70 Range $23.63 - $27.79

Q4 2018

Shares 32,811 Value ($000) $2,676 Avg Close $25.58 Range $22.68 - $27.84

Q3 2018

Shares 34,311 Value ($000) $2,944 Avg Close $27.51 Range $25.63 - $28.81

Q2 2018

Shares 34,611 Value ($000) $3,159 Avg Close $26.73 Range $25.01 - $28.50

Q1 2018

Shares 34,311 Value ($000) $2,958 Avg Close $23.90 Range $21.51 - $25.65

Q4 2017

Shares 34,111 Value ($000) $2,621 Avg Close $22.22 Range $21.02 - $23.51

Q3 2017

Shares 35,411 Value ($000) $2,747 Avg Close $21.78 Range $20.29 - $22.97

Q2 2017

Shares 37,411 Value ($000) $2,675 Avg Close $20.04 Range $19.15 - $21.05

Q1 2017

Shares 37,811 Value ($000) $2,626 Avg Close $20.15 Range $19.10 - $20.96

Q4 2016

Shares 37,311 Value ($000) $2,504 Avg Close $19.05 Range $18.21 - $20.06

Q3 2016

Shares 39,795 Value ($000) $2,688 Avg Close $19.86 Range $18.09 - $20.59

Q2 2016

Shares 39,995 Value ($000) $2,586 Avg Close $18.30 Range $17.45 - $18.99

Q1 2016

Shares 39,495 Value ($000) $2,622 Avg Close $17.55 Range $15.69 - $19.26

Q4 2015

Shares 39,295 Value ($000) $2,286 Avg Close $16.16 Range $14.41 - $17.06

Q3 2015

Shares 42,695 Value ($000) $2,277 Avg Close $14.48 Range $13.44 - $15.38

Q2 2015

Shares 45,895 Value ($000) $2,240 Avg Close $14.10 Range $13.46 - $14.81

Q1 2015

Shares 45,595 Value ($000) $2,323 Avg Close $13.63 Range $12.50 - $14.32

Q4 2014

Shares 48,295 Value ($000) $2,316 Avg Close $12.28 Range $10.69 - $13.87

Q3 2014

Shares 48,395 Value ($000) $2,053 Avg Close $11.67 Range $10.62 - $12.33

Q2 2014

Shares 48,295 Value ($000) $1,865 Avg Close $10.13 Range $9.24 - $10.87

Q1 2014

Shares 47,695 Value ($000) $1,762 Avg Close $10.67 Range $10.00 - $11.35

Q4 2013

Shares 46,995 Value ($000) $1,870 Avg Close $10.07 Range $8.71 - $11.14

Q3 2013

Shares 46,995 Value ($000) $1,508 Avg Close $8.76 Range $8.06 - $9.39

Q2 2013

Shares 47,795 Value ($000) $1,567 Avg Close $8.32 Range $7.47 - $9.10

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	118,090	$11,470	$89.74	$84.51 - $99.59
Q3 2025	122,590	$10,843	$92.14	$85.86 - $97.06
Q2 2025	112,390	$10,050	$79.17	$64.26 - $89.12
Q1 2025	112,290	$8,518	$77.78	$70.93 - $83.12
Q4 2024	112,290	$8,681	$76.22	$69.54 - $82.51
Q3 2024	112,690	$8,227	$67.05	$58.37 - $73.75
Q2 2024	104,190	$6,278	$59.26	$56.80 - $62.81
Q1 2024	103,990	$6,562	$56.40	$53.48 - $62.10
Q4 2023	93,190	$5,418	$51.21	$45.48 - $56.86
Q3 2023	92,890	$4,514	$48.99	$46.45 - $52.31
Q2 2023	93,090	$4,641	$52.14	$47.29 - $55.82
Q1 2023	93,090	$5,089	$55.41	$49.15 - $61.23
Q4 2022	92,090	$5,650	$59.57	$52.22 - $66.33
Q3 2022	91,690	$5,197	$56.05	$48.10 - $61.70
Q2 2022	31,130	$4,749	$50.24	$44.37 - $58.40
Q1 2022	29,530	$5,262	$55.99	$50.74 - $66.46
Q4 2021	29,450	$6,185	$64.29	$59.33 - $67.57
Q3 2021	29,350	$5,665	$59.23	$54.41 - $62.83
Q2 2021	28,850	$5,072	$51.63	$46.15 - $56.59
Q1 2021	28,950	$4,269	$44.40	$40.70 - $47.33
Q4 2020	28,850	$3,830	$39.45	$37.15 - $43.28
Q3 2020	29,350	$3,602	$39.57	$36.61 - $42.63
Q2 2020	29,350	$3,506	$34.41	$27.70 - $37.75
Q1 2020	26,311	$2,498	$32.57	$22.06 - $36.83
Q4 2019	27,711	$2,968	$31.21	$29.06 - $33.17
Q3 2019	27,711	$2,753	$30.30	$28.36 - $31.95
Q2 2019	27,811	$2,675	$27.79	$26.13 - $29.96
Q1 2019	33,411	$2,923	$25.70	$23.63 - $27.79
Q4 2018	32,811	$2,676	$25.58	$22.68 - $27.84
Q3 2018	34,311	$2,944	$27.51	$25.63 - $28.81
Q2 2018	34,611	$3,159	$26.73	$25.01 - $28.50
Q1 2018	34,311	$2,958	$23.90	$21.51 - $25.65
Q4 2017	34,111	$2,621	$22.22	$21.02 - $23.51
Q3 2017	35,411	$2,747	$21.78	$20.29 - $22.97
Q2 2017	37,411	$2,675	$20.04	$19.15 - $21.05
Q1 2017	37,811	$2,626	$20.15	$19.10 - $20.96
Q4 2016	37,311	$2,504	$19.05	$18.21 - $20.06
Q3 2016	39,795	$2,688	$19.86	$18.09 - $20.59
Q2 2016	39,995	$2,586	$18.30	$17.45 - $18.99
Q1 2016	39,495	$2,622	$17.55	$15.69 - $19.26
Q4 2015	39,295	$2,286	$16.16	$14.41 - $17.06
Q3 2015	42,695	$2,277	$14.48	$13.44 - $15.38
Q2 2015	45,895	$2,240	$14.10	$13.46 - $14.81
Q1 2015	45,595	$2,323	$13.63	$12.50 - $14.32
Q4 2014	48,295	$2,316	$12.28	$10.69 - $13.87
Q3 2014	48,395	$2,053	$11.67	$10.62 - $12.33
Q2 2014	48,295	$1,865	$10.13	$9.24 - $10.87
Q1 2014	47,695	$1,762	$10.67	$10.00 - $11.35
Q4 2013	46,995	$1,870	$10.07	$8.71 - $11.14
Q3 2013	46,995	$1,508	$8.76	$8.06 - $9.39
Q2 2013	47,795	$1,567	$8.32	$7.47 - $9.10