UNITED BANKSHARES INC WEST V

Ticker: UBSI CUSIP: 909907107 Class: COM

Arizona State Retirement System's Holding History (CIK: 0001558481)

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

Q4 2025

Shares 39,480 Value ($000) $1,516 Avg Close $37.24 Range $34.10 - $40.52

Q3 2025

Shares 42,027 Value ($000) $1,564 Avg Close $37.28 Range $34.48 - $39.11

Q2 2025

Shares 41,846 Value ($000) $1,524 Avg Close $35.11 Range $30.51 - $37.46

Q1 2025

Shares 38,766 Value ($000) $1,344 Avg Close $36.64 Range $33.81 - $39.56

Q4 2024

Shares 39,225 Value ($000) $1,473 Avg Close $39.37 Range $35.31 - $44.43

Q3 2024

Shares 38,929 Value ($000) $1,444 Avg Close $36.49 Range $31.47 - $39.93

Q2 2024

Shares 37,781 Value ($000) $1,226 Avg Close $33.05 Range $30.68 - $36.08

Q1 2024

Shares 37,083 Value ($000) $1,327 Avg Close $35.35 Range $32.92 - $38.18

Q4 2023

Shares 37,721 Value ($000) $1,416 Avg Close $31.77 Range $25.35 - $38.74

Q3 2023

Shares 38,420 Value ($000) $1,060 Avg Close $30.11 Range $26.49 - $34.30

Q2 2023

Shares 37,857 Value ($000) $1,123 Avg Close $31.48 Range $27.68 - $35.61

Q1 2023

Shares 39,018 Value ($000) $1,373 Avg Close $39.25 Range $33.35 - $42.45

Q4 2022

Shares 37,978 Value ($000) $1,538 Avg Close $40.53 Range $35.73 - $44.15

Q3 2022

Shares 36,765 Value ($000) $1,314 Avg Close $37.28 Range $33.67 - $40.85

Q2 2022

Shares 37,100 Value ($000) $1,301 Avg Close $35.08 Range $33.11 - $37.81

Q1 2022

Shares 36,851 Value ($000) $1,285 Avg Close $36.33 Range $33.58 - $39.80

Q4 2021

Shares 34,775 Value ($000) $1,262 Avg Close $36.81 Range $33.34 - $39.41

Q3 2021

Shares 35,188 Value ($000) $1,280 Avg Close $34.96 Range $31.74 - $37.12

Q2 2021

Shares 35,117 Value ($000) $1,282 Avg Close $39.30 Range $36.19 - $42.50

Q1 2021

Shares 37,774 Value ($000) $1,457 Avg Close $36.67 Range $31.57 - $41.61

Q4 2020

Shares 37,630 Value ($000) $1,219 Avg Close $28.24 Range $21.19 - $32.86

Q3 2020

Shares 39,079 Value ($000) $839 Avg Close $26.04 Range $20.57 - $30.07

Q2 2020

Shares 29,241 Value ($000) $809 Avg Close $26.85 Range $21.52 - $33.12

Q1 2020

Shares 23,836 Value ($000) $550 Avg Close $31.40 Range $19.67 - $39.07

Q4 2019

Shares 57,575 Value ($000) $2,226 Avg Close $38.56 Range $36.09 - $40.70

Q3 2019

Shares 63,490 Value ($000) $2,404 Avg Close $37.04 Range $34.77 - $39.98

Q2 2019

Shares 74,115 Value ($000) $2,749 Avg Close $37.56 Range $35.42 - $39.88

Q1 2019

Shares 73,317 Value ($000) $2,657 Avg Close $36.07 Range $30.67 - $39.14

Q4 2018

Shares 74,059 Value ($000) $2,304 Avg Close $33.75 Range $29.13 - $36.84

Q3 2018

Shares 73,718 Value ($000) $2,680 Avg Close $37.92 Range $34.75 - $39.95

Q2 2018

Shares 72,997 Value ($000) $2,657 Avg Close $35.81 Range $33.40 - $38.80

Q1 2018

Shares 71,071 Value ($000) $2,505 Avg Close $36.19 Range $33.60 - $38.55

Q4 2017

Shares 75,571 Value ($000) $2,626 Avg Close $36.07 Range $33.60 - $38.45

Q3 2017

Shares 59,475 Value ($000) $2,209 Avg Close $35.19 Range $31.70 - $40.45

Q2 2017

Shares 44,200 Value ($000) $1,733 Avg Close $39.69 Range $37.45 - $42.60

Q1 2017

Shares 42,248 Value ($000) $1,785 Avg Close $44.05 Range $39.45 - $47.30

Q4 2016

Shares 41,348 Value ($000) $1,912 Avg Close $42.45 Range $36.53 - $49.35

Q3 2016

Shares 34,748 Value ($000) $1,309 Avg Close $38.28 Range $35.91 - $39.71

Q2 2016

Shares 33,648 Value ($000) $1,262 Avg Close $37.72 Range $34.50 - $40.18

Q1 2016

Shares 33,148 Value ($000) $1,217 Avg Close $35.10 Range $32.22 - $37.85

Q4 2015

Shares 32,248 Value ($000) $1,193 Avg Close $39.54 Range $35.78 - $43.13

Q3 2015

Shares 31,048 Value ($000) $1,180 Avg Close $39.25 Range $35.60 - $43.43

Q4 2014

Shares 44,468 Value ($000) $1,665 Avg Close $34.37 Range $30.39 - $38.00

Q3 2014

Shares 44,168 Value ($000) $1,366 Avg Close $32.23 Range $30.89 - $33.60

Q2 2014

Shares 44,668 Value ($000) $1,444 Avg Close $30.44 Range $28.19 - $32.50

Q1 2014

Shares 44,068 Value ($000) $1,349 Avg Close $30.00 Range $28.23 - $32.08

Q4 2013

Shares 36,488 Value ($000) $1,147 Avg Close $30.60 Range $28.06 - $32.71

Q3 2013

Shares 41,088 Value ($000) $1,190 Avg Close $28.44 Range $26.04 - $29.45

Q2 2013

Shares 40,688 Value ($000) $1,076 Avg Close $25.77 Range $24.46 - $26.84

Q1 2013

Shares 40,588 Value ($000) $1,080 Avg Close $25.97 Range $24.80 - $27.24

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	39,480	$1,516	$37.24	$34.10 - $40.52
Q3 2025	42,027	$1,564	$37.28	$34.48 - $39.11
Q2 2025	41,846	$1,524	$35.11	$30.51 - $37.46
Q1 2025	38,766	$1,344	$36.64	$33.81 - $39.56
Q4 2024	39,225	$1,473	$39.37	$35.31 - $44.43
Q3 2024	38,929	$1,444	$36.49	$31.47 - $39.93
Q2 2024	37,781	$1,226	$33.05	$30.68 - $36.08
Q1 2024	37,083	$1,327	$35.35	$32.92 - $38.18
Q4 2023	37,721	$1,416	$31.77	$25.35 - $38.74
Q3 2023	38,420	$1,060	$30.11	$26.49 - $34.30
Q2 2023	37,857	$1,123	$31.48	$27.68 - $35.61
Q1 2023	39,018	$1,373	$39.25	$33.35 - $42.45
Q4 2022	37,978	$1,538	$40.53	$35.73 - $44.15
Q3 2022	36,765	$1,314	$37.28	$33.67 - $40.85
Q2 2022	37,100	$1,301	$35.08	$33.11 - $37.81
Q1 2022	36,851	$1,285	$36.33	$33.58 - $39.80
Q4 2021	34,775	$1,262	$36.81	$33.34 - $39.41
Q3 2021	35,188	$1,280	$34.96	$31.74 - $37.12
Q2 2021	35,117	$1,282	$39.30	$36.19 - $42.50
Q1 2021	37,774	$1,457	$36.67	$31.57 - $41.61
Q4 2020	37,630	$1,219	$28.24	$21.19 - $32.86
Q3 2020	39,079	$839	$26.04	$20.57 - $30.07
Q2 2020	29,241	$809	$26.85	$21.52 - $33.12
Q1 2020	23,836	$550	$31.40	$19.67 - $39.07
Q4 2019	57,575	$2,226	$38.56	$36.09 - $40.70
Q3 2019	63,490	$2,404	$37.04	$34.77 - $39.98
Q2 2019	74,115	$2,749	$37.56	$35.42 - $39.88
Q1 2019	73,317	$2,657	$36.07	$30.67 - $39.14
Q4 2018	74,059	$2,304	$33.75	$29.13 - $36.84
Q3 2018	73,718	$2,680	$37.92	$34.75 - $39.95
Q2 2018	72,997	$2,657	$35.81	$33.40 - $38.80
Q1 2018	71,071	$2,505	$36.19	$33.60 - $38.55
Q4 2017	75,571	$2,626	$36.07	$33.60 - $38.45
Q3 2017	59,475	$2,209	$35.19	$31.70 - $40.45
Q2 2017	44,200	$1,733	$39.69	$37.45 - $42.60
Q1 2017	42,248	$1,785	$44.05	$39.45 - $47.30
Q4 2016	41,348	$1,912	$42.45	$36.53 - $49.35
Q3 2016	34,748	$1,309	$38.28	$35.91 - $39.71
Q2 2016	33,648	$1,262	$37.72	$34.50 - $40.18
Q1 2016	33,148	$1,217	$35.10	$32.22 - $37.85
Q4 2015	32,248	$1,193	$39.54	$35.78 - $43.13
Q3 2015	31,048	$1,180	$39.25	$35.60 - $43.43
Q4 2014	44,468	$1,665	$34.37	$30.39 - $38.00
Q3 2014	44,168	$1,366	$32.23	$30.89 - $33.60
Q2 2014	44,668	$1,444	$30.44	$28.19 - $32.50
Q1 2014	44,068	$1,349	$30.00	$28.23 - $32.08
Q4 2013	36,488	$1,147	$30.60	$28.06 - $32.71
Q3 2013	41,088	$1,190	$28.44	$26.04 - $29.45
Q2 2013	40,688	$1,076	$25.77	$24.46 - $26.84
Q1 2013	40,588	$1,080	$25.97	$24.80 - $27.24