ARCOS DORADOS HOLDINGS INC

Ticker: ARCO CUSIP: G0457F107 Class: SHS CLASS -A -

CI INVESTMENTS INC.'s Holding History (CIK: 0001163648)

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

Q1 2014

Shares 4,222,033 Value ($000) $42,558 Avg Close $8.05 Range $6.94 - $10.14

Q4 2013

Shares 1,921,011 Value ($000) $23,283 Avg Close $9.84 Range $9.26 - $10.55

Q3 2013

Shares 1,578,454 Value ($000) $18,705 Avg Close $9.76 Range $8.66 - $11.36

Q2 2013

Shares 455,000 Value ($000) $5,314 Avg Close $10.94 Range $9.25 - $12.79

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2014	4,222,033	$42,558	$8.05	$6.94 - $10.14
Q4 2013	1,921,011	$23,283	$9.84	$9.26 - $10.55
Q3 2013	1,578,454	$18,705	$9.76	$8.66 - $11.36
Q2 2013	455,000	$5,314	$10.94	$9.25 - $12.79