NATIONAL BEVERAGE CORP

Ticker: FIZZ CUSIP: 635017106 Class: Common Stock

SANDLER CAPITAL MANAGEMENT's Holding History (CIK: 0001000742)

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

Q1 2017

Shares 66,843 Value ($000) $5,650 Avg Close $23.68 Range $17.86 - $33.64

Q4 2016

Shares 140,320 Value ($000) $7,168 Avg Close $18.97 Range $16.70 - $20.90

Q3 2016

Shares 50,000 Value ($000) $2,203 Avg Close $20.58 Range $14.97 - $24.75

Q2 2016

Shares 40,480 Value ($000) $2,543 Avg Close $19.51 Range $15.67 - $24.19

Q1 2016

Shares 95,310 Value ($000) $4,034 Avg Close $15.18 Range $12.37 - $17.13

Q4 2015

Shares 60,000 Value ($000) $2,726 Avg Close $14.83 Range $11.48 - $18.36

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	66,843	$5,650	$23.68	$17.86 - $33.64
Q4 2016	140,320	$7,168	$18.97	$16.70 - $20.90
Q3 2016	50,000	$2,203	$20.58	$14.97 - $24.75
Q2 2016	40,480	$2,543	$19.51	$15.67 - $24.19
Q1 2016	95,310	$4,034	$15.18	$12.37 - $17.13
Q4 2015	60,000	$2,726	$14.83	$11.48 - $18.36