Ivory Investment Management’s SBA Communications SBAC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-228,007	Closed	-$24M	–	135
2015 Q4	$24M	Buy	228,007 +117,558	+106%	+$12.4M	0.64%	45
2015 Q3	$11.6M	Buy	110,449 +25,609	+30%	+$2.68M	0.31%	61
2015 Q2	$9.75M	Buy	+84,840	New	+$9.75M	0.24%	75