YUM BRANDS INC

Ticker: YUM CUSIP: 988498101 Class: COM

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

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

Q1 2020

Shares 4,290 Value ($000) $294 Avg Close $83.57 Range $49.34 - $96.19

Q4 2019

Shares 4,290 Value ($000) $432 Avg Close $92.35 Range $86.28 - $102.50

Q3 2019

Shares 4,290 Value ($000) $487 Avg Close $101.52 Range $96.41 - $106.44

Q2 2019

Shares 4,230 Value ($000) $468 Avg Close $91.91 Range $87.42 - $98.69

Q1 2019

Shares 16,960 Value ($000) $1,693 Avg Close $83.46 Range $77.82 - $89.54

Q4 2018

Shares 21,250 Value ($000) $1,953 Avg Close $78.40 Range $74.01 - $82.75

Q2 2018

Shares 23,050 Value ($000) $1,803 Avg Close $72.58 Range $67.50 - $76.45

Q1 2018

Shares 8,910 Value ($000) $759 Avg Close $71.00 Range $65.56 - $75.11

Q4 2017

Shares 8,910 Value ($000) $727 Avg Close $68.23 Range $63.15 - $72.83

Q3 2017

Shares 8,910 Value ($000) $656 Avg Close $64.74 Range $62.05 - $67.26

Q2 2017

Shares 11,160 Value ($000) $823 Avg Close $59.63 Range $53.91 - $64.68

Q1 2017

Shares 11,160 Value ($000) $713 Avg Close $55.54 Range $53.21 - $58.86

Q4 2016

Shares 11,160 Value ($000) $707 Avg Close $53.30 Range $50.59 - $55.79

Q3 2016

Shares 16,240 Value ($000) $1,475 Avg Close $53.87 Range $49.89 - $55.85

Q2 2016

Shares 16,210 Value ($000) $1,344 Avg Close $49.47 Range $47.30 - $51.88

Q1 2016

Shares 12,530 Value ($000) $1,026 Avg Close $43.79 Range $38.78 - $49.61

Q4 2015

Shares 13,000 Value ($000) $950 Avg Close $43.30 Range $39.32 - $49.50

Q3 2015

Shares 12,890 Value ($000) $1,031 Avg Close $49.86 Range $42.30 - $54.52

Q2 2015

Shares 12,890 Value ($000) $1,161 Avg Close $51.97 Range $45.86 - $56.57

Q1 2015

Shares 13,000 Value ($000) $1,023 Avg Close $44.53 Range $40.49 - $48.61

Q4 2014

Shares 15,300 Value ($000) $1,115 Avg Close $42.23 Range $38.40 - $45.85

Q3 2014

Shares 15,300 Value ($000) $1,101 Avg Close $42.91 Range $39.49 - $48.48

Q2 2014

Shares 15,200 Value ($000) $1,234 Avg Close $44.64 Range $42.77 - $47.42

Q1 2014

Shares 15,200 Value ($000) $1,146 Avg Close $42.07 Range $37.83 - $44.79

Q4 2013

Shares 15,000 Value ($000) $1,134 Avg Close $40.89 Range $36.63 - $44.98

Q3 2013

Shares 15,000 Value ($000) $1,071 Avg Close $41.01 Range $39.12 - $42.73

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2020	4,290	$294	$83.57	$49.34 - $96.19
Q4 2019	4,290	$432	$92.35	$86.28 - $102.50
Q3 2019	4,290	$487	$101.52	$96.41 - $106.44
Q2 2019	4,230	$468	$91.91	$87.42 - $98.69
Q1 2019	16,960	$1,693	$83.46	$77.82 - $89.54
Q4 2018	21,250	$1,953	$78.40	$74.01 - $82.75
Q2 2018	23,050	$1,803	$72.58	$67.50 - $76.45
Q1 2018	8,910	$759	$71.00	$65.56 - $75.11
Q4 2017	8,910	$727	$68.23	$63.15 - $72.83
Q3 2017	8,910	$656	$64.74	$62.05 - $67.26
Q2 2017	11,160	$823	$59.63	$53.91 - $64.68
Q1 2017	11,160	$713	$55.54	$53.21 - $58.86
Q4 2016	11,160	$707	$53.30	$50.59 - $55.79
Q3 2016	16,240	$1,475	$53.87	$49.89 - $55.85
Q2 2016	16,210	$1,344	$49.47	$47.30 - $51.88
Q1 2016	12,530	$1,026	$43.79	$38.78 - $49.61
Q4 2015	13,000	$950	$43.30	$39.32 - $49.50
Q3 2015	12,890	$1,031	$49.86	$42.30 - $54.52
Q2 2015	12,890	$1,161	$51.97	$45.86 - $56.57
Q1 2015	13,000	$1,023	$44.53	$40.49 - $48.61
Q4 2014	15,300	$1,115	$42.23	$38.40 - $45.85
Q3 2014	15,300	$1,101	$42.91	$39.49 - $48.48
Q2 2014	15,200	$1,234	$44.64	$42.77 - $47.42
Q1 2014	15,200	$1,146	$42.07	$37.83 - $44.79
Q4 2013	15,000	$1,134	$40.89	$36.63 - $44.98
Q3 2013	15,000	$1,071	$41.01	$39.12 - $42.73