Gramercy Funds Management LLC — Q4 2013 13F Holdings

Name: Gramercy Funds Management LLC — 13F Holdings, Q4 2013
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001548836

Total reported value

$6.1M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	ADX	Adams Diversified Equity	Stock-Other	9.99%	—	-4.13%
2	RVT	Royce Small-cap Trust INC	Stock-Other	9.07%	—	+1.59%
3	GAM	General American Investors	Stock-Other	8.93%	—	-0.45%
4	TY	Tri-continental CORP	Stock-Other	8.59%	—	-6.64%
5	EEM	Ishares Msci Emerging Market	ETF-Emerging Markets	7.22%	—	-33.03%
6	✓	Petroleum & Res CORP	Stock-Other	5.13%	—	-22.48%
7	CET	Central Securities CORP	Stock-Other	4.10%	—	-4.57%
8	USA	Liberty All Star Equity Fund	Stock-Other	3.92%	—	+2.18%
9	YINNEUR	Drx Dly Ftse China Bull 3x	ETF-Emerging Markets	3.83%	—	+3443.86%
10	THFG	Thai Fund INC	Stock-Other	3.22%	—	+35.92%
11	RMT	Royce Micro-cap Trust INC	Stock-Other	2.76%	—	+51.70%
12	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	2.56%	—	+87.01%
13	✓	Morgan Stanley Asia Pac Fd I	Stock-Other	2.56%	—	+1.70%
14	FXI	Ishares China Large-cap ETF	ETF-Emerging Markets	2.32%	—	+17318.18%
15	TUR	Ishares Msci Turkey ETF	ETF-Other	2.13%	—	—
16	IIF	Morgan Stanley India Invest	Stock-Other	1.87%	—	-19.31%
17	✓	Boulder Total Return Fd INC	Stock-Other	1.78%	—	-33.25%
18	STEW	Srh Total Return Fund INC	Stock-Other	1.69%	—	-5.63%
19	✓	Banro CORP	Stock-Other	1.51%	—	+63.14%
20	GLV	Clough Global Dividend & INC	Stock-Other	1.01%	—	—
21	NIE	Virtus Equity & Convertible Income Fund	Stock-Other	0.89%	—	-23.66%
22	MXE	Mexico Equity And Income Fd	Stock-Other	0.69%	—	+3.56%
23	ECF	Ellsworth Growth And Income	Stock-Other	0.68%	—	-15.32%
24	EEA	European Equity Fund Inc/the	Stock-Other	0.67%	—	-0.99%
25	✓	Aberdeen Israel Fund INC	Stock-Other	0.65%	—	+3.13%
26	ACWI	iShares MSCI ACWI ETF	ETF-Other	0.64%	—	—
27	✓	Zweig Fd	Stock-Other	0.62%	—	—
28	BXSY	Bexil Investment Trust	Stock-Other	0.62%	—	—
29	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.60%	—	-96.44%
30	✓	Korea Equity Fund	Stock-Other	0.54%	—	+12.27%
31	SMHC	VanEck China Semiconductor ETF	ETF-Emerging Markets	0.50%	—	—
32	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	0.50%	—	+299.21%
33	CEE	Central And Eastern Europe F	Stock-Other	0.47%	—	+298.54%
34	EWD	Ishares Msci Sweden ETF	ETF-Other	0.43%	—	—
35	BCV	Bancroft Fund LTD	Stock-Other	0.41%	—	-12.18%
36	GF	New Germany Fund Inc/the	Stock-Other	0.41%	—	-65.65%
37	RQI	Cohen & Steers Qual INC Rlty	Stock-Other	0.41%	—	—
38	✓	Denali Fd INC	Stock-Other	0.41%	—	—
39	IFN	Aberdeen India Fund INC	Stock-Other	0.39%	—	—
40	✓	Jpmorgan China Region Fd INC	Stock-Other	0.38%	—	—
41	XGLQX	Clough Global Equity Fund	Stock-Other	0.34%	—	-27.44%
42	SMHC	VanEck China Semiconductor ETF	ETF-Emerging Markets	0.33%	—	—
43	DXJ	Wisdomtree Japan Hedged Eq	ETF-Other	0.29%	—	-98.11%
44	JOF	Japan Smaller Capitalization	Stock-Other	0.28%	—	—
45	✓	Macquarie	Stock-Other	0.28%	—	+207.79%
46	✓	Japan Equity Fd INC	Stock-Other	0.27%	—	—
47	FEZ	State Street Spdr Euro Stoxx	ETF-Other	0.24%	—	—
48	KF	Korea Fund INC	Stock-Other	0.24%	—	+33.82%
49	EZU	Ishares Msci Eurozone ETF	ETF-Other	0.24%	—	—
50	IEV	Ishares Europe ETF	ETF-Other	0.24%	—	—

1–50 of 73

Holding changes this quarter

Position changes disclosed by Gramercy Funds Management LLC for the quarter ending Q4 2013, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	YINNEUR	Drx Dly Ftse China Bull 3x	+3.8%	+3443.86%	Add
2	ADX	Adams Diversified Equity	+2.7%	-4.13%	Trim
3	GAM	General American Investors	+2.5%	-0.45%	Trim
4	RVT	Royce Small-cap Trust INC	+2.5%	+1.59%	Add
5	TY	Tri-continental CORP	+2.4%	-6.64%	Trim
6	FXI	Ishares China Large-cap ETF	+2.3%	+17318.18%	Add
7	VWO	Vanguard Ftse Emerging Marke	+1.6%	+87.01%	Add
8	RMT	Royce Micro-cap Trust INC	+1.5%	+51.70%	Add
9	USA	Liberty All Star Equity Fund	+1.4%	+2.18%	Add
10	THFG	Thai Fund INC	+1.3%	+35.92%	Add
11	✓	Banro CORP	+0.7%	+63.14%	Add
12	CET	Central Securities CORP	+0.7%	-4.57%	Trim
13	MMT	Aberdeen Multi-Market Income Fund	+0.4%	+299.21%	Add
14	IIF	Morgan Stanley India Invest	+0.4%	-19.31%	Trim
15	CEE	Central And Eastern Europe F	+0.4%	+298.54%	Add
16	✓	Petroleum & Res CORP	+0.3%	-22.48%	Trim
17	✓	Macquarie	+0.2%	+207.79%	Add
18	TWN	Taiwan Fund Inc/th/md-us INC	+0.2%	+1662.50%	Add
19	ECF	Ellsworth Growth And Income	+0.1%	-15.32%	Trim
20	NIE	Virtus Equity & Convertible Income Fund	+0.1%	-23.66%	Trim
21	XGLQX	Clough Global Equity Fund	0%	-27.44%	Trim
22	MMT	Aberdeen Multi-Market Income Fund	0%	-11.24%	Trim
23	✓	Boulder Total Return Fd INC	-0.1%	-33.25%	Trim
24	GF	New Germany Fund Inc/the	-0.5%	-65.65%	Trim
25	EEM	Ishares Msci Emerging Market	-0.5%	-33.03%	Trim
26	EWI	iShares MSCI Italy ETF	-2.3%	-98.75%	Trim
27	EFA	Ishares Msci Eafe ETF	-3.3%	-96.63%	Trim
28	EWP	Ishares Msci Spain ETF	-3.6%	-98.78%	Trim
29	ACWI	Ishares Msci Acwi ETF	-4.2%	-97.81%	Trim
30	DXJ	Wisdomtree Japan Hedged Eq	-10.3%	-98.11%	Trim
31	SPY	Ss Spdr S&p 500 ETF Trust-us	-10.7%	-96.44%	Trim
32	TUR	Ishares Msci Turkey ETF	—	NEW	New buy
33	ACWI	iShares MSCI ACWI ETF	—	NEW	New buy
34	BXSY	Bexil Investment Trust	—	NEW	New buy
35	SMHC	VanEck China Semiconductor ETF	—	NEW	New buy
36	EWD	Ishares Msci Sweden ETF	—	NEW	New buy
37	RQI	Cohen & Steers Qual INC Rlty	—	NEW	New buy
38	IFN	Aberdeen India Fund INC	—	NEW	New buy
39	✓	Jpmorgan China Region Fd INC	—	NEW	New buy
40	✓	J F China Region Fd INC	—	EXIT	Sold out
41	SMHC	VanEck China Semiconductor ETF	—	NEW	New buy
42	JOF	Japan Smaller Capitalization	—	NEW	New buy
43	✓	Japan Equity Fd INC	—	NEW	New buy
44	FEZ	State Street Spdr Euro Stoxx	—	NEW	New buy
45	EZU	Ishares Msci Eurozone ETF	—	NEW	New buy
46	IEV	Ishares Europe ETF	—	NEW	New buy
47	TLT	iShares 20+ Year Treasury Bond ETF	—	NEW	New buy
48	✓	Alpine Total Dynamic Divid F	—	EXIT	Sold out
49	✓	Direxion Daily India Bull 3x	—	NEW	New buy
50	EZA	Ishares Msci South Africa Et	—	EXIT	Sold out