Three Bays Capital’s TIM SA TIMB Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2015 Q1	–	Sell	-1,806,800	Closed	-$40.1M	–	22
2014 Q4	$40.1M	Buy	+1,806,800	New	+$40.1M	2.56%	9