TIM PARTICIPACOES S A

CUSIP: 88706P205 Class: ADR

CAPITAL FUND MANAGEMENT S.A.'s Holding History (CIK: 0001323645)

Note: Option positions (PUT/CALL) are excluded.

Q1 2015
Shares 139,990 Value ($000) $2,321 Avg Close — Range —
Q3 2014
Shares 18,399 Value ($000) $482 Avg Close — Range —
Q2 2014
Shares 7,100 Value ($000) $206 Avg Close — Range —
Q1 2014
Shares 92,991 Value ($000) $2,414 Avg Close — Range —