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

Whitebox Advisors’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
2016 Q4	–	Sell	-205,070	Closed	-$778K	–	90
2016 Q3	$778K	Sell	205,070 -500,000	-71%	-$1.77M	0.03%	73
2016 Q2	$1.49M	Sell	705,070 -2,026,380	-74%	-$3.07M	0.04%	79
2016 Q1	$4.11M	Sell	2,731,450 -3,000,950	-52%	-$3.44M	0.12%	66
2015 Q4	$6.57M	Sell	5,732,400 -1,486,439	-21%	-$2.54M	0.18%	68
2015 Q3	$14.1M	Buy	7,218,839 +1,723,760	+31%	+$5.06M	0.63%	35
2015 Q2	$26M	Buy	5,495,079 +1,665,966	+44%	+$8.55M	1.13%	19
2015 Q1	$18.6M	Buy	3,829,113 +1,993,399	+109%	+$15.5M	0.72%	28
2014 Q4	$21.1M	Sell	1,835,714 -256,010	-12%	-$2.63M	0.84%	27
2014 Q3	$20.1M	Buy	2,091,724 +536,116	+34%	+$6.42M	0.78%	26
2014 Q2	$17M	Buy	1,555,608 +89,597	+6%	+$1.05M	0.67%	33
2014 Q1	$14.3M	Buy	+1,466,011	New	+$13.2M	0.61%	36

Other funds holding GOL

CCM

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

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

SCM

Shah Capital Management Raleigh, North Carolina $521M AUM 46.95% 1-Year Est. Return

Renaissance Technologies New York $63.9B AUM 45.56% 1-Year Est. Return

Ashmore Group London, United Kingdom $16.3M AUM 57.83% 1-Year Est. Return

RCMNY

Rubric Capital Management (New York) New York $9.44B AUM 68.42% 1-Year Est. Return

Dimensional Fund Advisors Austin, Texas $481B AUM 30.42% 1-Year Est. Return

VanEck Associates New York $133B AUM 72.99% 1-Year Est. Return

Susquehanna International Group Bala Cynwyd, Pennsylvania $893B AUM 36.07% 1-Year Est. Return

Whitebox Advisors's GOL Position: Q4 2016 in Review

Whitebox Advisors sold out of Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) (GOL) in Q4 2016, closing a stake of 205,070 shares — an estimated $778K sold.

Whitebox Advisors first reported a position in GOL in Q1 2014 and held it in 11 quarters. The position peaked at $26M in Q2 2015. 27 funds tracked by Wall St. Rank hold GOL as of Q4 2016.

Whitebox Advisors reported no remaining Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position as of Q4 2016 after selling out during the quarter.
Whitebox Advisors sold 205,070 Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) shares in Q4 2016, an estimated $778K.
Whitebox Advisors 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 11 quarters.
Whitebox Advisors's Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) position peaked at $26M in Q2 2015.
27 funds tracked by Wall St. Rank held Gol Linhas Aéreas Inteligentes S.A. American Depositary Shares (Each representing Ten Preferred Shares) as of Q4 2016.

Based on Whitebox Advisors's 13F filing for Q4 2016, filed 30 Jan 2017.