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

Gruber & McBaine 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
2015 Q2	$237K	Hold	50,000	–	–	0.06%	169
2015 Q1	$243K	Buy	+50,000	New	+$389K	0.06%	173
2014 Q3	–	Sell	-125,000	Closed	-$1.37M	–	217
2014 Q2	$1.37M	Hold	125,000	–	–	0.37%	95
2014 Q1	$1.22M	Hold	125,000	–	–	0.32%	108
2013 Q4	$1.14M	Buy	+125,000	New	+$1.17M	0.3%	103

Other funds holding GOL

Whitebox Advisors Minneapolis, Minnesota $8.12B AUM 15.82% 1-Year Est. Return

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

JHIU

Janus Henderson Investors US Denver, Colorado $122B AUM 18.26% 1-Year Est. Return

MNA

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

EDRH

Edmond de Rothschild Holding Chambesy, Switzerland $6.91B AUM 19.7% 1-Year Est. Return

EDRAMF

Edmond de Rothschild Asset Management (France) Paris, France $2.3B AUM 15.71% 1-Year Est. Return

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

RFC

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

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

CCA

Castle Creek Arbitrage Avon, Colorado $425M AUM 7.4% 1-Year Est. Return

Gruber & McBaine Capital Management's GOL Position: Q2 2015 in Review

Gruber & McBaine Capital Management held its Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) (GOL) position steady in Q2 2015 at 50,000 shares worth $237K. The position accounts for 0.06% of the portfolio, ranked #169.

Gruber & McBaine Capital Management first reported a position in GOL in Q4 2013 and has held it in 5 quarters since. The position peaked at $1.37M in Q2 2014. 56 funds tracked by Wall St. Rank hold GOL as of Q2 2015.

Gruber & McBaine Capital Management held 50,000 shares of Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) worth $237K as of Q2 2015.
Gruber & McBaine Capital Management left its Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) share count unchanged in Q2 2015.
Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) made up 0.06% of Gruber & McBaine Capital Management's portfolio in Q2 2015, its #169 holding.
Gruber & McBaine Capital Management first reported a position in Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) in Q4 2013 and has held it in 5 quarters since.
Gruber & McBaine Capital Management's Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position peaked at $1.37M in Q2 2014.
56 funds tracked by Wall St. Rank held Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) as of Q2 2015.

Based on Gruber & McBaine Capital Management's 13F filing for Q2 2015, filed 13 Aug 2015.