SHENANDOAH TELECOMMUNICATION

Ticker: SHEN CUSIP: 82312B106 Class: Common Stock

CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM's Holding History (CIK: 0001081019)

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

Q4 2025

Shares 43,113 Value ($000) $498 Avg Close $11.83 Range $9.67 - $13.90

Q3 2025

Shares 43,148 Value ($000) $579 Avg Close $13.74 Range $11.71 - $15.84

Q2 2025

Shares 43,515 Value ($000) $594 Avg Close $12.69 Range $10.07 - $14.46

Q1 2025

Shares 43,515 Value ($000) $547 Avg Close $11.76 Range $9.77 - $13.61

Q4 2024

Shares 43,515 Value ($000) $549 Avg Close $13.44 Range $12.01 - $16.28

Q3 2024

Shares 44,007 Value ($000) $621 Avg Close $16.52 Range $13.51 - $21.89

Q2 2024

Shares 45,398 Value ($000) $741 Avg Close $16.11 Range $11.87 - $19.32

Q1 2024

Shares 47,829 Value ($000) $831 Avg Close $19.38 Range $16.95 - $22.27

Q4 2023

Shares 50,513 Value ($000) $1,092 Avg Close $22.40 Range $20.02 - $25.51

Q3 2023

Shares 52,922 Value ($000) $1,091 Avg Close $20.48 Range $18.02 - $23.31

Q2 2023

Shares 58,165 Value ($000) $1,130 Avg Close $19.60 Range $18.20 - $21.00

Q1 2023

Shares 59,818 Value ($000) $1,138 Avg Close $18.68 Range $15.62 - $21.07

Q4 2022

Shares 60,664 Value ($000) $963 Avg Close $18.30 Range $15.63 - $22.79

Q3 2022

Shares 60,044 Value ($000) $1,022 Avg Close $21.33 Range $16.97 - $24.50

Q2 2022

Shares 60,920 Value ($000) $1,352 Avg Close $22.59 Range $17.06 - $25.93

Q1 2022

Shares 60,645 Value ($000) $1,430 Avg Close $22.57 Range $18.77 - $26.58

Q4 2021

Shares 66,148 Value ($000) $1,687 Avg Close $28.08 Range $24.44 - $32.71

Q3 2021

Shares 65,231 Value ($000) $2,060 Avg Close $38.05 Range $28.70 - $61.53

Q2 2021

Shares 66,630 Value ($000) $3,232 Avg Close $49.53 Range $46.00 - $51.82

Q1 2021

Shares 72,670 Value ($000) $3,547 Avg Close $45.77 Range $38.77 - $52.20

Q4 2020

Shares 72,935 Value ($000) $3,154 Avg Close $44.90 Range $42.31 - $48.01

Q3 2020

Shares 72,881 Value ($000) $3,238 Avg Close $50.97 Range $42.18 - $56.77

Q2 2020

Shares 72,881 Value ($000) $3,592 Avg Close $50.71 Range $44.04 - $59.93

Q1 2020

Shares 72,881 Value ($000) $3,589 Avg Close $44.42 Range $38.35 - $51.00

Q4 2019

Shares 73,243 Value ($000) $3,048 Avg Close $35.41 Range $29.61 - $41.73

Q3 2019

Shares 74,722 Value ($000) $2,374 Avg Close $35.06 Range $30.70 - $41.63

Q2 2019

Shares 73,830 Value ($000) $2,844 Avg Close $41.46 Range $36.40 - $45.27

Q1 2019

Shares 71,495 Value ($000) $3,172 Avg Close $46.93 Range $43.28 - $51.18

Q4 2018

Shares 73,045 Value ($000) $3,232 Avg Close $42.67 Range $34.74 - $51.41

Q3 2018

Shares 71,436 Value ($000) $2,768 Avg Close $35.63 Range $31.10 - $39.40

Q2 2018

Shares 71,462 Value ($000) $2,337 Avg Close $34.16 Range $29.93 - $39.65

Q1 2018

Shares 70,690 Value ($000) $2,545 Avg Close $33.27 Range $30.00 - $38.60

Q4 2017

Shares 73,251 Value ($000) $2,476 Avg Close $36.81 Range $32.55 - $41.80

Q3 2017

Shares 74,392 Value ($000) $2,767 Avg Close $33.93 Range $28.00 - $39.48

Q2 2017

Shares 82,344 Value ($000) $2,528 Avg Close $30.99 Range $27.28 - $33.05

Q1 2017

Shares 91,124 Value ($000) $2,556 Avg Close $27.65 Range $25.35 - $31.10

Q4 2016

Shares 95,424 Value ($000) $2,605 Avg Close $26.83 Range $22.05 - $30.20

Q3 2016

Shares 98,024 Value ($000) $2,667 Avg Close $32.10 Range $24.92 - $42.66

Q2 2016

Shares 97,024 Value ($000) $3,790 Avg Close $30.94 Range $25.69 - $39.11

Q1 2016

Shares 102,744 Value ($000) $2,748 Avg Close $22.98 Range $19.18 - $27.53

Q4 2015

Shares 44,819 Value ($000) $1,929 Avg Close $23.10 Range $19.63 - $25.67

Q3 2015

Shares 44,060 Value ($000) $1,886 Avg Close $18.93 Range $15.68 - $22.10

Q2 2015

Shares 44,160 Value ($000) $1,512 Avg Close $16.60 Range $15.04 - $18.79

Q1 2015

Shares 44,029 Value ($000) $1,372 Avg Close $15.28 Range $13.76 - $16.84

Q4 2014

Shares 44,629 Value ($000) $1,395 Avg Close $14.14 Range $11.84 - $16.00

Q3 2014

Shares 44,439 Value ($000) $1,103 Avg Close $14.04 Range $12.36 - $15.55

Q2 2014

Shares 43,986 Value ($000) $1,340 Avg Close $14.24 Range $12.61 - $16.38

Q1 2014

Shares 43,586 Value ($000) $1,407 Avg Close $13.41 Range $11.51 - $17.00

Q4 2013

Shares 43,386 Value ($000) $1,114 Avg Close $12.60 Range $11.10 - $14.57

Q3 2013

Shares 43,186 Value ($000) $1,041 Avg Close $9.63 Range $8.38 - $12.18

Q2 2013

Shares 41,801 Value ($000) $697 Avg Close $8.21 Range $6.92 - $8.96

Q1 2013

Shares 41,405 Value ($000) $631 Avg Close $7.36 Range $6.53 - $8.05

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	43,113	$498	$11.83	$9.67 - $13.90
Q3 2025	43,148	$579	$13.74	$11.71 - $15.84
Q2 2025	43,515	$594	$12.69	$10.07 - $14.46
Q1 2025	43,515	$547	$11.76	$9.77 - $13.61
Q4 2024	43,515	$549	$13.44	$12.01 - $16.28
Q3 2024	44,007	$621	$16.52	$13.51 - $21.89
Q2 2024	45,398	$741	$16.11	$11.87 - $19.32
Q1 2024	47,829	$831	$19.38	$16.95 - $22.27
Q4 2023	50,513	$1,092	$22.40	$20.02 - $25.51
Q3 2023	52,922	$1,091	$20.48	$18.02 - $23.31
Q2 2023	58,165	$1,130	$19.60	$18.20 - $21.00
Q1 2023	59,818	$1,138	$18.68	$15.62 - $21.07
Q4 2022	60,664	$963	$18.30	$15.63 - $22.79
Q3 2022	60,044	$1,022	$21.33	$16.97 - $24.50
Q2 2022	60,920	$1,352	$22.59	$17.06 - $25.93
Q1 2022	60,645	$1,430	$22.57	$18.77 - $26.58
Q4 2021	66,148	$1,687	$28.08	$24.44 - $32.71
Q3 2021	65,231	$2,060	$38.05	$28.70 - $61.53
Q2 2021	66,630	$3,232	$49.53	$46.00 - $51.82
Q1 2021	72,670	$3,547	$45.77	$38.77 - $52.20
Q4 2020	72,935	$3,154	$44.90	$42.31 - $48.01
Q3 2020	72,881	$3,238	$50.97	$42.18 - $56.77
Q2 2020	72,881	$3,592	$50.71	$44.04 - $59.93
Q1 2020	72,881	$3,589	$44.42	$38.35 - $51.00
Q4 2019	73,243	$3,048	$35.41	$29.61 - $41.73
Q3 2019	74,722	$2,374	$35.06	$30.70 - $41.63
Q2 2019	73,830	$2,844	$41.46	$36.40 - $45.27
Q1 2019	71,495	$3,172	$46.93	$43.28 - $51.18
Q4 2018	73,045	$3,232	$42.67	$34.74 - $51.41
Q3 2018	71,436	$2,768	$35.63	$31.10 - $39.40
Q2 2018	71,462	$2,337	$34.16	$29.93 - $39.65
Q1 2018	70,690	$2,545	$33.27	$30.00 - $38.60
Q4 2017	73,251	$2,476	$36.81	$32.55 - $41.80
Q3 2017	74,392	$2,767	$33.93	$28.00 - $39.48
Q2 2017	82,344	$2,528	$30.99	$27.28 - $33.05
Q1 2017	91,124	$2,556	$27.65	$25.35 - $31.10
Q4 2016	95,424	$2,605	$26.83	$22.05 - $30.20
Q3 2016	98,024	$2,667	$32.10	$24.92 - $42.66
Q2 2016	97,024	$3,790	$30.94	$25.69 - $39.11
Q1 2016	102,744	$2,748	$22.98	$19.18 - $27.53
Q4 2015	44,819	$1,929	$23.10	$19.63 - $25.67
Q3 2015	44,060	$1,886	$18.93	$15.68 - $22.10
Q2 2015	44,160	$1,512	$16.60	$15.04 - $18.79
Q1 2015	44,029	$1,372	$15.28	$13.76 - $16.84
Q4 2014	44,629	$1,395	$14.14	$11.84 - $16.00
Q3 2014	44,439	$1,103	$14.04	$12.36 - $15.55
Q2 2014	43,986	$1,340	$14.24	$12.61 - $16.38
Q1 2014	43,586	$1,407	$13.41	$11.51 - $17.00
Q4 2013	43,386	$1,114	$12.60	$11.10 - $14.57
Q3 2013	43,186	$1,041	$9.63	$8.38 - $12.18
Q2 2013	41,801	$697	$8.21	$6.92 - $8.96
Q1 2013	41,405	$631	$7.36	$6.53 - $8.05