Carrhae Capital’s Telefônica Brasil VIV Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q3	–	Sell	-939,000	Closed	-$13.1M	–	19
2015 Q2	$13.1M	Buy	939,000 +725,000	+339%	+$10.1M	5.75%	3
2015 Q1	$3.27M	Hold	214,000	–	–	2.1%	7
2014 Q4	$3.78M	Buy	+214,000	New	+$3.78M	3.26%	4