UNITED THERAPEUTICS CORP DEL

Ticker: UTHR CUSIP: 91307C102 Class: EQTY

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

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

Q1 2020

Shares 8,230 Value ($000) $780 Avg Close $95.05 Range $75.58 - $116.98

Q4 2019

Shares 8,130 Value ($000) $716 Avg Close $87.99 Range $76.33 - $95.90

Q3 2019

Shares 8,040 Value ($000) $641 Avg Close $80.53 Range $74.31 - $87.85

Q2 2019

Shares 8,080 Value ($000) $631 Avg Close $93.51 Range $75.72 - $121.11

Q1 2019

Shares 7,950 Value ($000) $933 Avg Close $116.52 Range $105.88 - $128.94

Q4 2018

Shares 10,470 Value ($000) $1,140 Avg Close $115.95 Range $100.06 - $129.59

Q2 2018

Shares 10,200 Value ($000) $1,154 Avg Close $109.92 Range $100.57 - $118.93

Q1 2018

Shares 13,430 Value ($000) $1,509 Avg Close $127.04 Range $106.30 - $152.55

Q4 2017

Shares 13,140 Value ($000) $1,944 Avg Close $127.12 Range $115.79 - $152.47

Q3 2017

Shares 13,140 Value ($000) $1,540 Avg Close $127.70 Range $114.54 - $139.10

Q2 2017

Shares 17,390 Value ($000) $2,256 Avg Close $124.75 Range $112.01 - $134.16

Q1 2017

Shares 20,840 Value ($000) $2,821 Avg Close $151.49 Range $132.13 - $169.89

Q4 2016

Shares 19,780 Value ($000) $2,837 Avg Close $127.68 Range $110.90 - $147.60

Q3 2016

Shares 20,030 Value ($000) $2,365 Avg Close $120.15 Range $105.33 - $130.99

Q2 2016

Shares 19,740 Value ($000) $2,091 Avg Close $111.55 Range $97.52 - $121.69

Q1 2016

Shares 15,110 Value ($000) $1,684 Avg Close $126.54 Range $107.04 - $159.96

Q4 2015

Shares 14,570 Value ($000) $2,282 Avg Close $145.57 Range $117.88 - $164.04

Q3 2015

Shares 14,830 Value ($000) $1,946 Avg Close $160.39 Range $129.48 - $181.03

Q2 2015

Shares 14,680 Value ($000) $2,554 Avg Close $179.89 Range $157.20 - $190.29

Q1 2015

Shares 14,400 Value ($000) $2,483 Avg Close $152.45 Range $124.21 - $181.61

Q4 2014

Shares 15,340 Value ($000) $1,986 Avg Close $128.87 Range $118.47 - $137.84

Q3 2014

Shares 12,500 Value ($000) $1,608 Avg Close $103.09 Range $86.04 - $136.93

Q2 2014

Shares 12,800 Value ($000) $1,133 Avg Close $96.17 Range $84.63 - $109.24

Q1 2014

Shares 12,800 Value ($000) $1,204 Avg Close $102.28 Range $87.94 - $115.00

Q4 2013

Shares 12,600 Value ($000) $1,425 Avg Close $90.18 Range $78.14 - $116.65

Q3 2013

Shares 7,600 Value ($000) $599 Avg Close $73.09 Range $66.01 - $79.95

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	8,230	$780	$95.05	$75.58 - $116.98
Q4 2019	8,130	$716	$87.99	$76.33 - $95.90
Q3 2019	8,040	$641	$80.53	$74.31 - $87.85
Q2 2019	8,080	$631	$93.51	$75.72 - $121.11
Q1 2019	7,950	$933	$116.52	$105.88 - $128.94
Q4 2018	10,470	$1,140	$115.95	$100.06 - $129.59
Q2 2018	10,200	$1,154	$109.92	$100.57 - $118.93
Q1 2018	13,430	$1,509	$127.04	$106.30 - $152.55
Q4 2017	13,140	$1,944	$127.12	$115.79 - $152.47
Q3 2017	13,140	$1,540	$127.70	$114.54 - $139.10
Q2 2017	17,390	$2,256	$124.75	$112.01 - $134.16
Q1 2017	20,840	$2,821	$151.49	$132.13 - $169.89
Q4 2016	19,780	$2,837	$127.68	$110.90 - $147.60
Q3 2016	20,030	$2,365	$120.15	$105.33 - $130.99
Q2 2016	19,740	$2,091	$111.55	$97.52 - $121.69
Q1 2016	15,110	$1,684	$126.54	$107.04 - $159.96
Q4 2015	14,570	$2,282	$145.57	$117.88 - $164.04
Q3 2015	14,830	$1,946	$160.39	$129.48 - $181.03
Q2 2015	14,680	$2,554	$179.89	$157.20 - $190.29
Q1 2015	14,400	$2,483	$152.45	$124.21 - $181.61
Q4 2014	15,340	$1,986	$128.87	$118.47 - $137.84
Q3 2014	12,500	$1,608	$103.09	$86.04 - $136.93
Q2 2014	12,800	$1,133	$96.17	$84.63 - $109.24
Q1 2014	12,800	$1,204	$102.28	$87.94 - $115.00
Q4 2013	12,600	$1,425	$90.18	$78.14 - $116.65
Q3 2013	7,600	$599	$73.09	$66.01 - $79.95