PEPSICO INC

Ticker: PEP CUSIP: 713448108 Class: COM

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

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

Q4 2025

Shares 366,122 Value ($000) $52,546 Avg Close $145.91 Range $137.25 - $153.69

Q3 2025

Shares 383,222 Value ($000) $53,820 Avg Close $140.43 Range $129.92 - $154.76

Q2 2025

Shares 385,822 Value ($000) $50,944 Avg Close $131.03 Range $123.93 - $150.28

Q1 2025

Shares 383,722 Value ($000) $57,535 Avg Close $143.48 Range $136.07 - $155.29

Q4 2024

Shares 384,122 Value ($000) $58,410 Avg Close $156.55 Range $143.96 - $169.24

Q3 2024

Shares 391,222 Value ($000) $66,527 Avg Close $162.90 Range $149.54 - $171.19

Q2 2024

Shares 393,622 Value ($000) $64,920 Avg Close $162.33 Range $152.86 - $172.19

Q1 2024

Shares 394,922 Value ($000) $69,115 Avg Close $157.27 Range $151.91 - $165.06

Q4 2023

Shares 494,722 Value ($000) $84,024 Avg Close $153.75 Range $144.09 - $160.31

Q3 2023

Shares 527,222 Value ($000) $89,332 Avg Close $167.15 Range $155.38 - $176.65

Q2 2023

Shares 503,622 Value ($000) $93,281 Avg Close $170.56 Range $164.50 - $179.53

Q1 2023

Shares 478,222 Value ($000) $87,180 Avg Close $158.70 Range $151.30 - $166.40

Q4 2022

Shares 474,422 Value ($000) $85,709 Avg Close $160.89 Range $144.90 - $169.23

Q3 2022

Shares 453,522 Value ($000) $74,042 Avg Close $154.42 Range $146.73 - $161.90

Q2 2022

Shares 373,022 Value ($000) $62,168 Avg Close $149.80 Range $138.46 - $157.72

Q1 2022

Shares 348,922 Value ($000) $58,403 Avg Close $148.42 Range $136.18 - $156.35

Q4 2021

Shares 348,098 Value ($000) $60,468 Avg Close $143.45 Range $130.98 - $153.51

Q3 2021

Shares 346,998 Value ($000) $52,192 Avg Close $134.99 Range $128.60 - $138.92

Q2 2021

Shares 347,298 Value ($000) $51,459 Avg Close $126.17 Range $121.05 - $129.90

Q1 2021

Shares 346,298 Value ($000) $48,984 Avg Close $117.91 Range $110.20 - $126.66

Q4 2020

Shares 347,498 Value ($000) $51,534 Avg Close $121.24 Range $112.09 - $127.51

Q3 2020

Shares 353,298 Value ($000) $48,967 Avg Close $115.17 Range $110.09 - $122.58

Q2 2020

Shares 354,398 Value ($000) $46,873 Avg Close $110.78 Range $96.98 - $116.23

Q1 2020

Shares 319,629 Value ($000) $38,387 Avg Close $112.76 Range $85.04 - $122.59

Q4 2019

Shares 337,229 Value ($000) $46,089 Avg Close $112.78 Range $108.83 - $116.16

Q3 2019

Shares 336,129 Value ($000) $46,083 Avg Close $109.33 Range $101.75 - $114.79

Q2 2019

Shares 335,629 Value ($000) $44,011 Avg Close $104.74 Range $98.45 - $111.08

Q1 2019

Shares 404,829 Value ($000) $49,612 Avg Close $92.45 Range $86.33 - $100.45

Q4 2018

Shares 404,129 Value ($000) $44,648 Avg Close $90.68 Range $83.88 - $97.90

Q3 2018

Shares 421,429 Value ($000) $47,116 Avg Close $90.33 Range $85.57 - $94.26

Q2 2018

Shares 419,829 Value ($000) $45,707 Avg Close $81.72 Range $75.66 - $87.68

Q1 2018

Shares 418,729 Value ($000) $45,704 Avg Close $89.25 Range $83.55 - $95.90

Q4 2017

Shares 416,929 Value ($000) $49,998 Avg Close $88.99 Range $82.56 - $94.39

Q3 2017

Shares 433,529 Value ($000) $48,308 Avg Close $89.40 Range $85.78 - $92.17

Q2 2017

Shares 469,429 Value ($000) $54,214 Avg Close $88.18 Range $85.37 - $91.29

Q1 2017

Shares 468,829 Value ($000) $52,443 Avg Close $81.92 Range $76.96 - $86.46

Q4 2016

Shares 469,029 Value ($000) $49,075 Avg Close $79.36 Range $75.01 - $82.35

Q3 2016

Shares 502,273 Value ($000) $54,632 Avg Close $81.08 Range $78.66 - $83.28

Q2 2016

Shares 501,773 Value ($000) $53,158 Avg Close $77.08 Range $74.51 - $79.68

Q1 2016

Shares 497,673 Value ($000) $51,002 Avg Close $73.27 Range $68.98 - $77.08

Q4 2015

Shares 498,273 Value ($000) $49,787 Avg Close $73.47 Range $67.97 - $75.99

Q3 2015

Shares 530,573 Value ($000) $50,033 Avg Close $69.51 Range $55.75 - $73.34

Q2 2015

Shares 572,473 Value ($000) $53,435 Avg Close $69.31 Range $67.46 - $71.23

Q1 2015

Shares 1,414,973 Value ($000) $135,300 Avg Close $69.70 Range $66.75 - $72.43

Q4 2014

Shares 616,473 Value ($000) $58,294 Avg Close $68.61 Range $64.14 - $71.91

Q3 2014

Shares 617,673 Value ($000) $57,499 Avg Close $64.88 Range $62.01 - $67.28

Q2 2014

Shares 2,966,688 Value ($000) $265,044 Avg Close $60.92 Range $57.70 - $63.99

Q1 2014

Shares 3,399,888 Value ($000) $283,891 Avg Close $56.86 Range $53.82 - $58.98

Q4 2013

Shares 2,119,988 Value ($000) $175,832 Avg Close $57.75 Range $54.61 - $60.20

Q3 2013

Shares 2,123,788 Value ($000) $168,841 Avg Close $56.75 Range $54.18 - $60.00

Q2 2013

Shares 2,494,588 Value ($000) $204,032 Avg Close $56.00 Range $53.55 - $58.02

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	366,122	$52,546	$145.91	$137.25 - $153.69
Q3 2025	383,222	$53,820	$140.43	$129.92 - $154.76
Q2 2025	385,822	$50,944	$131.03	$123.93 - $150.28
Q1 2025	383,722	$57,535	$143.48	$136.07 - $155.29
Q4 2024	384,122	$58,410	$156.55	$143.96 - $169.24
Q3 2024	391,222	$66,527	$162.90	$149.54 - $171.19
Q2 2024	393,622	$64,920	$162.33	$152.86 - $172.19
Q1 2024	394,922	$69,115	$157.27	$151.91 - $165.06
Q4 2023	494,722	$84,024	$153.75	$144.09 - $160.31
Q3 2023	527,222	$89,332	$167.15	$155.38 - $176.65
Q2 2023	503,622	$93,281	$170.56	$164.50 - $179.53
Q1 2023	478,222	$87,180	$158.70	$151.30 - $166.40
Q4 2022	474,422	$85,709	$160.89	$144.90 - $169.23
Q3 2022	453,522	$74,042	$154.42	$146.73 - $161.90
Q2 2022	373,022	$62,168	$149.80	$138.46 - $157.72
Q1 2022	348,922	$58,403	$148.42	$136.18 - $156.35
Q4 2021	348,098	$60,468	$143.45	$130.98 - $153.51
Q3 2021	346,998	$52,192	$134.99	$128.60 - $138.92
Q2 2021	347,298	$51,459	$126.17	$121.05 - $129.90
Q1 2021	346,298	$48,984	$117.91	$110.20 - $126.66
Q4 2020	347,498	$51,534	$121.24	$112.09 - $127.51
Q3 2020	353,298	$48,967	$115.17	$110.09 - $122.58
Q2 2020	354,398	$46,873	$110.78	$96.98 - $116.23
Q1 2020	319,629	$38,387	$112.76	$85.04 - $122.59
Q4 2019	337,229	$46,089	$112.78	$108.83 - $116.16
Q3 2019	336,129	$46,083	$109.33	$101.75 - $114.79
Q2 2019	335,629	$44,011	$104.74	$98.45 - $111.08
Q1 2019	404,829	$49,612	$92.45	$86.33 - $100.45
Q4 2018	404,129	$44,648	$90.68	$83.88 - $97.90
Q3 2018	421,429	$47,116	$90.33	$85.57 - $94.26
Q2 2018	419,829	$45,707	$81.72	$75.66 - $87.68
Q1 2018	418,729	$45,704	$89.25	$83.55 - $95.90
Q4 2017	416,929	$49,998	$88.99	$82.56 - $94.39
Q3 2017	433,529	$48,308	$89.40	$85.78 - $92.17
Q2 2017	469,429	$54,214	$88.18	$85.37 - $91.29
Q1 2017	468,829	$52,443	$81.92	$76.96 - $86.46
Q4 2016	469,029	$49,075	$79.36	$75.01 - $82.35
Q3 2016	502,273	$54,632	$81.08	$78.66 - $83.28
Q2 2016	501,773	$53,158	$77.08	$74.51 - $79.68
Q1 2016	497,673	$51,002	$73.27	$68.98 - $77.08
Q4 2015	498,273	$49,787	$73.47	$67.97 - $75.99
Q3 2015	530,573	$50,033	$69.51	$55.75 - $73.34
Q2 2015	572,473	$53,435	$69.31	$67.46 - $71.23
Q1 2015	1,414,973	$135,300	$69.70	$66.75 - $72.43
Q4 2014	616,473	$58,294	$68.61	$64.14 - $71.91
Q3 2014	617,673	$57,499	$64.88	$62.01 - $67.28
Q2 2014	2,966,688	$265,044	$60.92	$57.70 - $63.99
Q1 2014	3,399,888	$283,891	$56.86	$53.82 - $58.98
Q4 2013	2,119,988	$175,832	$57.75	$54.61 - $60.20
Q3 2013	2,123,788	$168,841	$56.75	$54.18 - $60.00
Q2 2013	2,494,588	$204,032	$56.00	$53.55 - $58.02