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

Tipp Hill 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 Q2	–	Sell	-262,500	Closed	-$2.55M	–	32
2014 Q1	$2.55M	Buy	262,500 +162,500	+163%	+$1.47M	1.91%	23
2013 Q4	$914K	Buy	+100,000	New	+$935K	0.63%	25

Other funds holding GOL

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

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

MNA

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

DCM

Driehaus Capital Management Chicago, Illinois $13.6B AUM 173.98% 1-Year Est. Return

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

GTP

Global Thematic Partners New York $120M AUM 25.18% 1-Year Est. Return

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

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

WBC

Westpac Banking Corp Sydney, Australia $1.44B AUM 28.5% 1-Year Est. Return

RFC

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

Tipp Hill Capital Management's GOL Position: Q2 2014 in Review

Tipp Hill Capital Management sold out of Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) (GOL) in Q2 2014, closing a stake of 262,500 shares — an estimated $2.55M sold.

Tipp Hill Capital Management first reported a position in GOL in Q4 2013 and held it in 2 quarters. The position peaked at $2.55M in Q1 2014. 72 funds tracked by Wall St. Rank hold GOL as of Q2 2014.

Tipp Hill Capital Management reported no remaining Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position as of Q2 2014 after selling out during the quarter.
Tipp Hill Capital Management sold 262,500 Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) shares in Q2 2014, an estimated $2.55M.
Tipp Hill 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 held it in 2 quarters.
Tipp Hill Capital Management's Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position peaked at $2.55M in Q1 2014.
72 funds tracked by Wall St. Rank held Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) as of Q2 2014.

Based on Tipp Hill Capital Management's 13F filing for Q2 2014, filed 23 Jul 2014.