STIFEL FINL CORP

Ticker: SF CUSIP: 860630102 Class: EQTY

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

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

Q1 2020

Shares 12,910 Value ($000) $533 Avg Close $34.07 Range $18.86 - $41.74

Q4 2019

Shares 12,910 Value ($000) $783 Avg Close $35.47 Range $29.91 - $38.37

Q3 2019

Shares 12,770 Value ($000) $733 Avg Close $34.00 Range $30.50 - $37.22

Q2 2019

Shares 13,290 Value ($000) $785 Avg Close $34.36 Range $31.79 - $35.91

Q1 2019

Shares 13,130 Value ($000) $693 Avg Close $30.49 Range $23.79 - $34.11

Q4 2018

Shares 17,110 Value ($000) $709 Avg Close $27.82 Range $22.94 - $31.73

Q2 2018

Shares 16,770 Value ($000) $876 Avg Close $34.77 Range $31.06 - $36.84

Q1 2018

Shares 22,320 Value ($000) $1,322 Avg Close $37.80 Range $33.46 - $40.75

Q4 2017

Shares 20,660 Value ($000) $1,231 Avg Close $32.59 Range $30.13 - $36.43

Q3 2017

Shares 20,660 Value ($000) $1,104 Avg Close $28.79 Range $26.29 - $31.98

Q2 2017

Shares 26,420 Value ($000) $1,215 Avg Close $27.26 Range $24.75 - $30.14

Q1 2017

Shares 30,700 Value ($000) $1,541 Avg Close $30.58 Range $27.23 - $33.42

Q4 2016

Shares 30,420 Value ($000) $1,519 Avg Close $26.66 Range $21.67 - $31.21

Q3 2016

Shares 29,840 Value ($000) $1,147 Avg Close $21.33 Range $16.82 - $23.59

Q2 2016

Shares 29,430 Value ($000) $926 Avg Close $19.75 Range $16.13 - $22.74

Q1 2016

Shares 23,170 Value ($000) $686 Avg Close $18.87 Range $14.76 - $24.60

Q4 2015

Shares 22,350 Value ($000) $947 Avg Close $25.82 Range $23.92 - $27.84

Q3 2015

Shares 21,820 Value ($000) $919 Avg Close $30.07 Range $24.51 - $34.65

Q2 2015

Shares 20,860 Value ($000) $1,204 Avg Close $32.73 Range $30.68 - $35.37

Q1 2015

Shares 20,000 Value ($000) $1,115 Avg Close $30.67 Range $27.13 - $34.09

Q4 2014

Shares 16,600 Value ($000) $847 Avg Close $28.10 Range $24.48 - $30.78

Q3 2014

Shares 15,600 Value ($000) $731 Avg Close $27.68 Range $26.22 - $29.36

Q2 2014

Shares 15,000 Value ($000) $710 Avg Close $27.37 Range $25.72 - $29.90

Q1 2014

Shares 14,300 Value ($000) $712 Avg Close $28.20 Range $25.45 - $30.45

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	12,910	$533	$34.07	$18.86 - $41.74
Q4 2019	12,910	$783	$35.47	$29.91 - $38.37
Q3 2019	12,770	$733	$34.00	$30.50 - $37.22
Q2 2019	13,290	$785	$34.36	$31.79 - $35.91
Q1 2019	13,130	$693	$30.49	$23.79 - $34.11
Q4 2018	17,110	$709	$27.82	$22.94 - $31.73
Q2 2018	16,770	$876	$34.77	$31.06 - $36.84
Q1 2018	22,320	$1,322	$37.80	$33.46 - $40.75
Q4 2017	20,660	$1,231	$32.59	$30.13 - $36.43
Q3 2017	20,660	$1,104	$28.79	$26.29 - $31.98
Q2 2017	26,420	$1,215	$27.26	$24.75 - $30.14
Q1 2017	30,700	$1,541	$30.58	$27.23 - $33.42
Q4 2016	30,420	$1,519	$26.66	$21.67 - $31.21
Q3 2016	29,840	$1,147	$21.33	$16.82 - $23.59
Q2 2016	29,430	$926	$19.75	$16.13 - $22.74
Q1 2016	23,170	$686	$18.87	$14.76 - $24.60
Q4 2015	22,350	$947	$25.82	$23.92 - $27.84
Q3 2015	21,820	$919	$30.07	$24.51 - $34.65
Q2 2015	20,860	$1,204	$32.73	$30.68 - $35.37
Q1 2015	20,000	$1,115	$30.67	$27.13 - $34.09
Q4 2014	16,600	$847	$28.10	$24.48 - $30.78
Q3 2014	15,600	$731	$27.68	$26.22 - $29.36
Q2 2014	15,000	$710	$27.37	$25.72 - $29.90
Q1 2014	14,300	$712	$28.20	$25.45 - $30.45