PNM RES INC

Ticker: TXNM CUSIP: 69349H107 Class: EQTY

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

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

Q4 2025

Shares 23,189 Value ($000) $1,365 Avg Close $57.71 Range $56.50 - $59.12

Q3 2025

Shares 22,589 Value ($000) $1,277 Avg Close $56.75 Range $56.17 - $57.42

Q2 2025

Shares 22,289 Value ($000) $1,255 Avg Close $54.45 Range $47.69 - $57.29

Q1 2025

Shares 21,589 Value ($000) $1,155 Avg Close $50.19 Range $45.71 - $55.50

Q4 2024

Shares 21,389 Value ($000) $1,052 Avg Close $46.17 Range $42.09 - $50.28

Q3 2024

Shares 21,489 Value ($000) $941 Avg Close $40.62 Range $35.70 - $43.81

Q2 2024

Shares 21,689 Value ($000) $802 Avg Close $37.24 Range $35.35 - $38.87

Q1 2024

Shares 21,089 Value ($000) $794 Avg Close $37.20 Range $34.63 - $39.67

Q4 2023

Shares 20,589 Value ($000) $857 Avg Close $42.83 Range $41.44 - $44.87

Q3 2023

Shares 20,489 Value ($000) $914 Avg Close $44.66 Range $42.75 - $45.94

Q2 2023

Shares 21,189 Value ($000) $956 Avg Close $47.06 Range $44.35 - $49.08

Q1 2023

Shares 21,689 Value ($000) $1,056 Avg Close $49.07 Range $48.36 - $49.60

Q4 2022

Shares 21,889 Value ($000) $1,068 Avg Close $47.60 Range $45.65 - $49.31

Q3 2022

Shares 21,589 Value ($000) $987 Avg Close $47.57 Range $45.73 - $48.81

Q2 2022

Shares 21,789 Value ($000) $1,041 Avg Close $46.88 Range $43.43 - $48.32

Q1 2022

Shares 21,789 Value ($000) $1,039 Avg Close $45.50 Range $43.96 - $48.25

Q4 2021

Shares 21,757 Value ($000) $992 Avg Close $48.07 Range $43.84 - $50.11

Q3 2021

Shares 21,457 Value ($000) $1,062 Avg Close $48.93 Range $47.50 - $50.01

Q2 2021

Shares 21,657 Value ($000) $1,056 Avg Close $49.20 Range $48.36 - $49.97

Q1 2021

Shares 31,757 Value ($000) $1,558 Avg Close $48.55 Range $46.93 - $49.19

Q4 2020

Shares 29,057 Value ($000) $1,410 Avg Close $48.23 Range $40.32 - $50.25

Q3 2020

Shares 29,057 Value ($000) $1,201 Avg Close $41.72 Range $37.30 - $45.70

Q2 2020

Shares 28,957 Value ($000) $1,113 Avg Close $39.95 Range $34.24 - $46.82

Q1 2020

Shares 22,134 Value ($000) $841 Avg Close $48.46 Range $27.08 - $56.14

Q4 2019

Shares 23,434 Value ($000) $1,188 Avg Close $50.20 Range $47.23 - $52.98

Q3 2019

Shares 23,134 Value ($000) $1,205 Avg Close $50.49 Range $47.59 - $52.95

Q2 2019

Shares 23,534 Value ($000) $1,198 Avg Close $47.70 Range $44.28 - $52.10

Q1 2019

Shares 28,434 Value ($000) $1,346 Avg Close $43.73 Range $39.71 - $47.92

Q4 2018

Shares 28,434 Value ($000) $1,168 Avg Close $40.99 Range $37.67 - $45.35

Q3 2018

Shares 29,434 Value ($000) $1,161 Avg Close $39.18 Range $37.17 - $40.95

Q2 2018

Shares 29,334 Value ($000) $1,141 Avg Close $38.31 Range $34.95 - $40.73

Q1 2018

Shares 29,034 Value ($000) $1,111 Avg Close $36.63 Range $33.75 - $40.55

Q4 2017

Shares 28,634 Value ($000) $1,158 Avg Close $42.90 Range $39.75 - $46.00

Q3 2017

Shares 29,934 Value ($000) $1,206 Avg Close $40.66 Range $37.23 - $43.05

Q2 2017

Shares 32,834 Value ($000) $1,256 Avg Close $38.05 Range $36.00 - $40.10

Q1 2017

Shares 32,334 Value ($000) $1,196 Avg Close $35.37 Range $33.35 - $37.90

Q4 2016

Shares 32,034 Value ($000) $1,099 Avg Close $32.44 Range $30.95 - $34.53

Q3 2016

Shares 32,034 Value ($000) $1,048 Avg Close $33.44 Range $31.20 - $36.15

Q2 2016

Shares 31,934 Value ($000) $1,132 Avg Close $32.87 Range $30.62 - $35.46

Q1 2016

Shares 31,834 Value ($000) $1,073 Avg Close $31.98 Range $29.22 - $34.07

Q4 2015

Shares 31,534 Value ($000) $964 Avg Close $28.66 Range $26.56 - $31.23

Q3 2015

Shares 36,334 Value ($000) $1,019 Avg Close $26.09 Range $24.42 - $28.17

Q2 2015

Shares 36,334 Value ($000) $894 Avg Close $26.77 Range $24.49 - $29.78

Q1 2015

Shares 36,134 Value ($000) $1,055 Avg Close $29.12 Range $27.06 - $31.18

Q4 2014

Shares 37,934 Value ($000) $1,124 Avg Close $28.33 Range $24.81 - $31.60

Q3 2014

Shares 37,834 Value ($000) $942 Avg Close $26.52 Range $24.26 - $29.94

Q2 2014

Shares 37,534 Value ($000) $1,101 Avg Close $27.94 Range $26.19 - $29.33

Q1 2014

Shares 37,534 Value ($000) $1,015 Avg Close $25.30 Range $23.53 - $27.25

Q4 2013

Shares 37,334 Value ($000) $900 Avg Close $23.39 Range $22.02 - $24.53

Q3 2013

Shares 37,134 Value ($000) $840 Avg Close $22.75 Range $21.11 - $24.39

Q2 2013

Shares 36,634 Value ($000) $813 Avg Close $22.83 Range $21.11 - $24.01

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	23,189	$1,365	$57.71	$56.50 - $59.12
Q3 2025	22,589	$1,277	$56.75	$56.17 - $57.42
Q2 2025	22,289	$1,255	$54.45	$47.69 - $57.29
Q1 2025	21,589	$1,155	$50.19	$45.71 - $55.50
Q4 2024	21,389	$1,052	$46.17	$42.09 - $50.28
Q3 2024	21,489	$941	$40.62	$35.70 - $43.81
Q2 2024	21,689	$802	$37.24	$35.35 - $38.87
Q1 2024	21,089	$794	$37.20	$34.63 - $39.67
Q4 2023	20,589	$857	$42.83	$41.44 - $44.87
Q3 2023	20,489	$914	$44.66	$42.75 - $45.94
Q2 2023	21,189	$956	$47.06	$44.35 - $49.08
Q1 2023	21,689	$1,056	$49.07	$48.36 - $49.60
Q4 2022	21,889	$1,068	$47.60	$45.65 - $49.31
Q3 2022	21,589	$987	$47.57	$45.73 - $48.81
Q2 2022	21,789	$1,041	$46.88	$43.43 - $48.32
Q1 2022	21,789	$1,039	$45.50	$43.96 - $48.25
Q4 2021	21,757	$992	$48.07	$43.84 - $50.11
Q3 2021	21,457	$1,062	$48.93	$47.50 - $50.01
Q2 2021	21,657	$1,056	$49.20	$48.36 - $49.97
Q1 2021	31,757	$1,558	$48.55	$46.93 - $49.19
Q4 2020	29,057	$1,410	$48.23	$40.32 - $50.25
Q3 2020	29,057	$1,201	$41.72	$37.30 - $45.70
Q2 2020	28,957	$1,113	$39.95	$34.24 - $46.82
Q1 2020	22,134	$841	$48.46	$27.08 - $56.14
Q4 2019	23,434	$1,188	$50.20	$47.23 - $52.98
Q3 2019	23,134	$1,205	$50.49	$47.59 - $52.95
Q2 2019	23,534	$1,198	$47.70	$44.28 - $52.10
Q1 2019	28,434	$1,346	$43.73	$39.71 - $47.92
Q4 2018	28,434	$1,168	$40.99	$37.67 - $45.35
Q3 2018	29,434	$1,161	$39.18	$37.17 - $40.95
Q2 2018	29,334	$1,141	$38.31	$34.95 - $40.73
Q1 2018	29,034	$1,111	$36.63	$33.75 - $40.55
Q4 2017	28,634	$1,158	$42.90	$39.75 - $46.00
Q3 2017	29,934	$1,206	$40.66	$37.23 - $43.05
Q2 2017	32,834	$1,256	$38.05	$36.00 - $40.10
Q1 2017	32,334	$1,196	$35.37	$33.35 - $37.90
Q4 2016	32,034	$1,099	$32.44	$30.95 - $34.53
Q3 2016	32,034	$1,048	$33.44	$31.20 - $36.15
Q2 2016	31,934	$1,132	$32.87	$30.62 - $35.46
Q1 2016	31,834	$1,073	$31.98	$29.22 - $34.07
Q4 2015	31,534	$964	$28.66	$26.56 - $31.23
Q3 2015	36,334	$1,019	$26.09	$24.42 - $28.17
Q2 2015	36,334	$894	$26.77	$24.49 - $29.78
Q1 2015	36,134	$1,055	$29.12	$27.06 - $31.18
Q4 2014	37,934	$1,124	$28.33	$24.81 - $31.60
Q3 2014	37,834	$942	$26.52	$24.26 - $29.94
Q2 2014	37,534	$1,101	$27.94	$26.19 - $29.33
Q1 2014	37,534	$1,015	$25.30	$23.53 - $27.25
Q4 2013	37,334	$900	$23.39	$22.02 - $24.53
Q3 2013	37,134	$840	$22.75	$21.11 - $24.39
Q2 2013	36,634	$813	$22.83	$21.11 - $24.01