TEXAS CAPITAL BANCSHARES INC

Ticker: TCBI CUSIP: 88224Q107 Class: COM

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

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

Q1 2020

Shares 9,330 Value ($000) $207 Avg Close $46.38 Range $19.10 - $58.44

Q4 2019

Shares 9,330 Value ($000) $530 Avg Close $56.99 Range $50.77 - $64.88

Q3 2019

Shares 9,230 Value ($000) $504 Avg Close $56.95 Range $51.02 - $63.53

Q2 2019

Shares 9,290 Value ($000) $570 Avg Close $60.77 Range $55.04 - $66.61

Q1 2019

Shares 9,150 Value ($000) $499 Avg Close $57.94 Range $50.10 - $62.47

Q4 2018

Shares 11,910 Value ($000) $608 Avg Close $63.07 Range $47.86 - $84.34

Q2 2018

Shares 11,640 Value ($000) $1,065 Avg Close $96.90 Range $87.45 - $103.05

Q1 2018

Shares 15,430 Value ($000) $1,387 Avg Close $93.78 Range $85.95 - $102.90

Q4 2017

Shares 15,000 Value ($000) $1,334 Avg Close $86.65 Range $77.65 - $95.20

Q3 2017

Shares 15,000 Value ($000) $1,287 Avg Close $77.65 Range $69.65 - $87.50

Q2 2017

Shares 19,130 Value ($000) $1,481 Avg Close $77.01 Range $70.65 - $84.35

Q1 2017

Shares 11,170 Value ($000) $932 Avg Close $83.82 Range $75.80 - $93.35

Q4 2016

Shares 11,110 Value ($000) $871 Avg Close $67.45 Range $54.20 - $81.25

Q3 2016

Shares 10,190 Value ($000) $560 Avg Close $50.40 Range $42.36 - $55.25

Q2 2016

Shares 10,020 Value ($000) $469 Avg Close $44.80 Range $34.54 - $51.84

Q1 2016

Shares 9,780 Value ($000) $375 Avg Close $37.00 Range $29.78 - $49.88

Q4 2015

Shares 9,300 Value ($000) $460 Avg Close $54.54 Range $46.25 - $61.83

Q3 2015

Shares 9,180 Value ($000) $481 Avg Close $55.85 Range $48.01 - $63.25

Q2 2015

Shares 8,730 Value ($000) $543 Avg Close $54.77 Range $47.55 - $63.70

Q1 2015

Shares 8,600 Value ($000) $418 Avg Close $47.15 Range $40.40 - $54.81

Q4 2014

Shares 11,000 Value ($000) $598 Avg Close $56.71 Range $51.58 - $62.07

Q3 2014

Shares 11,000 Value ($000) $634 Avg Close $53.90 Range $49.90 - $60.74

Q2 2014

Shares 10,600 Value ($000) $572 Avg Close $56.08 Range $50.76 - $66.62

Q1 2014

Shares 9,900 Value ($000) $643 Avg Close $61.82 Range $56.45 - $67.08

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	9,330	$207	$46.38	$19.10 - $58.44
Q4 2019	9,330	$530	$56.99	$50.77 - $64.88
Q3 2019	9,230	$504	$56.95	$51.02 - $63.53
Q2 2019	9,290	$570	$60.77	$55.04 - $66.61
Q1 2019	9,150	$499	$57.94	$50.10 - $62.47
Q4 2018	11,910	$608	$63.07	$47.86 - $84.34
Q2 2018	11,640	$1,065	$96.90	$87.45 - $103.05
Q1 2018	15,430	$1,387	$93.78	$85.95 - $102.90
Q4 2017	15,000	$1,334	$86.65	$77.65 - $95.20
Q3 2017	15,000	$1,287	$77.65	$69.65 - $87.50
Q2 2017	19,130	$1,481	$77.01	$70.65 - $84.35
Q1 2017	11,170	$932	$83.82	$75.80 - $93.35
Q4 2016	11,110	$871	$67.45	$54.20 - $81.25
Q3 2016	10,190	$560	$50.40	$42.36 - $55.25
Q2 2016	10,020	$469	$44.80	$34.54 - $51.84
Q1 2016	9,780	$375	$37.00	$29.78 - $49.88
Q4 2015	9,300	$460	$54.54	$46.25 - $61.83
Q3 2015	9,180	$481	$55.85	$48.01 - $63.25
Q2 2015	8,730	$543	$54.77	$47.55 - $63.70
Q1 2015	8,600	$418	$47.15	$40.40 - $54.81
Q4 2014	11,000	$598	$56.71	$51.58 - $62.07
Q3 2014	11,000	$634	$53.90	$49.90 - $60.74
Q2 2014	10,600	$572	$56.08	$50.76 - $66.62
Q1 2014	9,900	$643	$61.82	$56.45 - $67.08