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POTOMAC CAPITAL MANAGEMENT LLC
> CCOI
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 03/31/2008 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 0 | -236,170 | 0 | -2,737,000 | |
| 09/30/2006 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 236,170 | -8,700 | 2,737,000 | 443,000 | $11.59 |
| 06/30/2006 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 244,870 | -67,730 | 2,294,000 | -754,000 | $9.37 |
| 03/31/2006 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 312,600 | 37,800 | 3,048,000 | 1,539,000 | $9.75 |
| 12/31/2005 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 274,800 | 15,000 | 1,509,000 | 241,000 | $5.49 |
| 09/30/2005 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 259,800 | 184,200 | 1,268,000 | 766,000 | $4.88 |
| 06/30/2005 | COGENT COMMUNICATIONS HOLDINGS, INC. | CCOI | 75,600 | 75,600 | 502,000 | 502,000 | $6.64 |
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