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DAWSON CAPITAL MANAGEMENT INC
> SBAC
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2011 | SBA COMMUNICATIONS CORP | SBAC | 0 | -7,375 | 0 | -254,000 | |
| 09/30/2011 | SBA COMMUNICATIONS CORP | SBAC | 7,375 | -7,375 | 254,000 | -309,000 | $34.44 |
| 06/30/2011 | SBA COMMUNICATIONS CORP | SBAC | 14,750 | -5,950 | 563,000 | -258,000 | $38.17 |
| 03/31/2011 | SBA COMMUNICATIONS CORP | SBAC | 20,700 | 0 | 821,000 | -26,000 | $39.66 |
| 12/31/2010 | SBA COMMUNICATIONS CORP | SBAC | 20,700 | 0 | 847,000 | 13,000 | $40.92 |
| 09/30/2010 | SBA COMMUNICATIONS CORP | SBAC | 20,700 | -19,700 | 834,000 | -540,000 | $40.29 |
| 06/30/2010 | SBA COMMUNICATIONS CORP | SBAC | 40,400 | 0 | 1,374,000 | -83,000 | $34.01 |
| 03/31/2010 | SBA COMMUNICATIONS CORP | SBAC | 40,400 | -6,300 | 1,457,000 | -138,000 | $36.06 |
| 12/31/2009 | SBA COMMUNICATIONS CORP | SBAC | 46,700 | -9,000 | 1,595,000 | 89,000 | $34.15 |
| 09/30/2009 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | 0 | 1,506,000 | 139,000 | $27.04 |
| 06/30/2009 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | -35,800 | 1,367,000 | -765,000 | $24.54 |
| 03/31/2009 | SBA COMMUNICATIONS CORP | SBAC | 91,500 | 0 | 2,132,000 | 639,000 | $23.30 |
| 12/31/2008 | SBA COMMUNICATIONS CORP | SBAC | 91,500 | 35,800 | 1,493,000 | 52,000 | $16.32 |
| 09/30/2008 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | 0 | 1,441,000 | -565,000 | $25.87 |
| 06/30/2008 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | 0 | 2,006,000 | 344,000 | $36.01 |
| 03/31/2008 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | 0 | 1,662,000 | -223,000 | $29.84 |
| 12/31/2007 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | 0 | 1,885,000 | -80,000 | $33.84 |
| 09/30/2007 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | 0 | 1,965,000 | 94,000 | $35.28 |
| 06/30/2007 | SBA COMMUNICATIONS CORP | SBAC | 55,700 | -18,600 | 1,871,000 | -325,000 | $33.59 |
| 03/31/2007 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 2,196,000 | 153,000 | $29.56 |
| 12/31/2006 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 2,043,000 | 235,000 | $27.50 |
| 09/30/2006 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 1,808,000 | -134,000 | $24.33 |
| 06/30/2006 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 1,942,000 | 203,000 | $26.14 |
| 03/31/2006 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 1,739,000 | 409,000 | $23.41 |
| 12/31/2005 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 1,330,000 | 184,000 | $17.90 |
| 09/30/2005 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 1,146,000 | 143,000 | $15.42 |
| 06/30/2005 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 0 | 1,003,000 | 324,000 | $13.50 |
| 03/31/2005 | SBA COMMUNICATIONS CORP | SBAC | 74,300 | 4,700 | 679,000 | 33,000 | $9.14 |
| 12/31/2004 | SBA COMMUNICATIONS CORP | SBAC | 69,600 | 0 | 646,000 | 159,000 | $9.28 |
| 09/30/2004 | SBA COMMUNICATIONS CORP | SBAC | 69,600 | 0 | 487,000 | 177,000 | $7.00 |
| 06/30/2004 | SBA COMMUNICATIONS CORP | SBAC | 69,600 | 69,600 | 310,000 | 310,000 | $4.45 |
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