PHILIP MORRIS INTL INC

Ticker: PM CUSIP: 718172109 Class: Common Stock

Municipal Employees' Retirement System of Michigan's Holding History (CIK: 0001588873)

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

Q2 2020

Shares 44,190 Value ($000) $3,096 Avg Close $54.79 Range $50.13 - $59.15

Q1 2020

Shares 64,890 Value ($000) $4,734 Avg Close $60.74 Range $42.00 - $66.43

Q4 2019

Shares 64,640 Value ($000) $5,500 Avg Close $60.01 Range $55.09 - $64.15

Q3 2019

Shares 62,230 Value ($000) $4,725 Avg Close $56.72 Range $49.52 - $64.32

Q2 2019

Shares 61,920 Value ($000) $4,863 Avg Close $58.27 Range $53.58 - $62.74

Q1 2019

Shares 59,610 Value ($000) $5,269 Avg Close $56.07 Range $45.72 - $64.49

Q4 2018

Shares 80,310 Value ($000) $5,362 Avg Close $57.29 Range $44.97 - $63.48

Q2 2018

Shares 72,110 Value ($000) $5,822 Avg Close $56.59 Range $50.75 - $68.95

Q1 2018

Shares 67,260 Value ($000) $6,686 Avg Close $68.70 Range $63.60 - $73.29

Q4 2017

Shares 66,690 Value ($000) $7,046 Avg Close $69.58 Range $66.26 - $75.19

Q3 2017

Shares 64,450 Value ($000) $7,155 Avg Close $75.24 Range $70.63 - $78.63

Q2 2017

Shares 75,050 Value ($000) $8,815 Avg Close $74.28 Range $69.54 - $79.15

Q1 2017

Shares 75,920 Value ($000) $8,572 Avg Close $65.59 Range $57.11 - $73.45

Q4 2016

Shares 75,700 Value ($000) $6,926 Avg Close $58.23 Range $54.46 - $61.63

Q3 2016

Shares 72,720 Value ($000) $7,069 Avg Close $62.27 Range $60.22 - $64.72

Q2 2016

Shares 72,570 Value ($000) $7,456 Avg Close $61.40 Range $58.97 - $63.30

Q1 2016

Shares 59,410 Value ($000) $5,889 Avg Close $55.87 Range $51.40 - $61.20

Q4 2015

Shares 58,580 Value ($000) $5,209 Avg Close $52.28 Range $47.15 - $54.45

Q3 2015

Shares 58,210 Value ($000) $4,677 Avg Close $48.90 Range $45.45 - $51.37

Q2 2015

Shares 59,050 Value ($000) $4,734 Avg Close $48.32 Range $44.16 - $50.98

Q1 2015

Shares 45,900 Value ($000) $3,504 Avg Close $47.07 Range $44.17 - $49.41

Q4 2014

Shares 54,500 Value ($000) $4,494 Avg Close $49.22 Range $46.45 - $51.65

Q3 2014

Shares 54,500 Value ($000) $4,600 Avg Close $47.89 Range $45.93 - $49.13

Q2 2014

Shares 54,700 Value ($000) $4,663 Avg Close $48.23 Range $45.73 - $51.29

Q1 2014

Shares 54,700 Value ($000) $4,478 Avg Close $44.74 Range $41.65 - $48.24

Q4 2013

Shares 54,900 Value ($000) $4,783 Avg Close $47.83 Range $45.86 - $50.23

Q3 2013

Shares 54,900 Value ($000) $4,754 Avg Close $47.38 Range $44.86 - $49.49

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2020	44,190	$3,096	$54.79	$50.13 - $59.15
Q1 2020	64,890	$4,734	$60.74	$42.00 - $66.43
Q4 2019	64,640	$5,500	$60.01	$55.09 - $64.15
Q3 2019	62,230	$4,725	$56.72	$49.52 - $64.32
Q2 2019	61,920	$4,863	$58.27	$53.58 - $62.74
Q1 2019	59,610	$5,269	$56.07	$45.72 - $64.49
Q4 2018	80,310	$5,362	$57.29	$44.97 - $63.48
Q2 2018	72,110	$5,822	$56.59	$50.75 - $68.95
Q1 2018	67,260	$6,686	$68.70	$63.60 - $73.29
Q4 2017	66,690	$7,046	$69.58	$66.26 - $75.19
Q3 2017	64,450	$7,155	$75.24	$70.63 - $78.63
Q2 2017	75,050	$8,815	$74.28	$69.54 - $79.15
Q1 2017	75,920	$8,572	$65.59	$57.11 - $73.45
Q4 2016	75,700	$6,926	$58.23	$54.46 - $61.63
Q3 2016	72,720	$7,069	$62.27	$60.22 - $64.72
Q2 2016	72,570	$7,456	$61.40	$58.97 - $63.30
Q1 2016	59,410	$5,889	$55.87	$51.40 - $61.20
Q4 2015	58,580	$5,209	$52.28	$47.15 - $54.45
Q3 2015	58,210	$4,677	$48.90	$45.45 - $51.37
Q2 2015	59,050	$4,734	$48.32	$44.16 - $50.98
Q1 2015	45,900	$3,504	$47.07	$44.17 - $49.41
Q4 2014	54,500	$4,494	$49.22	$46.45 - $51.65
Q3 2014	54,500	$4,600	$47.89	$45.93 - $49.13
Q2 2014	54,700	$4,663	$48.23	$45.73 - $51.29
Q1 2014	54,700	$4,478	$44.74	$41.65 - $48.24
Q4 2013	54,900	$4,783	$47.83	$45.86 - $50.23
Q3 2013	54,900	$4,754	$47.38	$44.86 - $49.49