SM ENERGY CO

Ticker: SM CUSIP: 78454L100 Class: EQTY

DENALI ADVISORS LLC's Holding History (CIK: 0001142941)

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

Q4 2025

Shares 300,000 Value ($000) $5,610 Avg Close $20.02 Range $17.39 - $25.89

Q3 2025

Shares 245,572 Value ($000) $6,132 Avg Close $26.40 Range $23.79 - $28.66

Q2 2025

Shares 261,902 Value ($000) $6,472 Avg Close $23.52 Range $18.97 - $29.62

Q1 2025

Shares 172,344 Value ($000) $5,162 Avg Close $34.54 Range $25.71 - $43.13

Q4 2024

Shares 112,551 Value ($000) $4,362 Avg Close $40.47 Range $34.67 - $44.54

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	300,000	$5,610	$20.02	$17.39 - $25.89
Q3 2025	245,572	$6,132	$26.40	$23.79 - $28.66
Q2 2025	261,902	$6,472	$23.52	$18.97 - $29.62
Q1 2025	172,344	$5,162	$34.54	$25.71 - $43.13
Q4 2024	112,551	$4,362	$40.47	$34.67 - $44.54