Corsair Capital Management’s Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) GOL Stock Holding History

Corsair Capital Management’s Portfolio GOL Stock Details GOL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-19,084	Closed	-$184K	–	103
2014 Q3	$184K	Sell	19,084 -5,916	-24%	-$70.8K	0.02%	99
2014 Q2	$274K	Hold	25,000	–	–	0.02%	92
2014 Q1	$243K	Buy	+25,000	New	+$226K	0.02%	98

Other funds holding GOL

Macquarie Group Sydney, NSW 2000, Australia $16.8B AUM 27.39% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

BAMCO Inc New York $33.1B AUM 11.16% 1-Year Est. Return

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

MNA

Manning & Napier Advisors Fairport, New York $7.09B AUM 17.35% 1-Year Est. Return

Whitebox Advisors Minneapolis, Minnesota $8.12B AUM 15.85% 1-Year Est. Return

CCM

Contrarian Capital Management Greenwich, Connecticut $357M AUM 18.27% 1-Year Est. Return

Grantham, Mayo, Van Otterloo & Co (GMO) Boston, Massachusetts $39.1B AUM 28.69% 1-Year Est. Return

Mangrove Partners Greenwich, Connecticut $1.24B AUM 41.74% 1-Year Est. Return

RFC

Russell Frank Company Seattle, Washington $56.9B AUM 2.13% 1-Year Est. Return

Corsair Capital Management's GOL Position: Q4 2014 in Review

Corsair Capital Management sold out of Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) (GOL) in Q4 2014, closing a stake of 19,084 shares — an estimated $184K sold.

Corsair Capital Management first reported a position in GOL in Q1 2014 and held it in 3 quarters. The position peaked at $274K in Q2 2014. 66 funds tracked by Wall St. Rank hold GOL as of Q4 2014.

Corsair Capital Management reported no remaining Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position as of Q4 2014 after selling out during the quarter.
Corsair Capital Management sold 19,084 Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) shares in Q4 2014, an estimated $184K.
Corsair Capital Management first reported a position in Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) in Q1 2014 and held it in 3 quarters.
Corsair Capital Management's Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position peaked at $274K in Q2 2014.
66 funds tracked by Wall St. Rank held Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) as of Q4 2014.

Based on Corsair Capital Management's 13F filing for Q4 2014, filed 13 Feb 2015.