Gramercy Funds Management LLC — Q1 2014 13F Holdings

Name: Gramercy Funds Management LLC — 13F Holdings, Q1 2014
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	10.38%	—	-6.53%
2	GAM	General American Investors	Stock-Other	10.01%	—	—
3	TY	Tri-continental CORP	Stock-Other	9.55%	—	-1.24%
4	RVT	Royce Small-cap Trust INC	Stock-Other	9.54%	—	-4.42%
5	✓	Petroleum & Res CORP	Stock-Other	5.86%	—	—
6	CET	Central Securities CORP	Stock-Other	4.41%	—	-6.92%
7	USA	Liberty All Star Equity Fund	Stock-Other	4.33%	—	—
8	YINNEUR	Drx Dly Ftse China Bull 3x	ETF-Emerging Markets	3.26%	—	-1.51%
9	FXI	Ishares China Large-cap ETF	ETF-Emerging Markets	2.94%	—	+21.61%
10	✓	Morgan Stanley Asia Pac Fd I	Stock-Other	2.92%	—	—
11	RMT	Royce Micro-cap Trust INC	Stock-Other	2.87%	—	-4.11%
12	THFG	Thai Fund INC	Stock-Other	2.86%	—	+32.94%
13	IIF	Morgan Stanley India Invest	Stock-Other	2.33%	—	—
14	✓	Boulder Total Return Fd INC	Stock-Other	2.11%	—	—
15	EEM	Ishares Msci Emerging Market	ETF-Emerging Markets	2.04%	—	-74.32%
16	✓	Banro CORP	Stock-Other	1.96%	—	+33.33%
17	STEW	Srh Total Return Fund INC	Stock-Other	1.92%	—	—
18	EPI	Wisdomtree India Earnings	ETF-Other	1.92%	—	—
19	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	1.11%	—	+100.71%
20	CEE	Central And Eastern Europe F	Stock-Other	0.98%	—	+115.73%
21	MXE	Mexico Equity And Income Fd	Stock-Other	0.98%	—	+29.07%
22	GLV	Clough Global Dividend & INC	Stock-Other	0.86%	—	-23.39%
23	DPG	Duff & Phelps Utility & INC	Stock-Other	0.82%	—	—
24	✓	Aberdeen Israel Fund INC	Stock-Other	0.81%	—	+3.42%
25	GF	New Germany Fund Inc/the	Stock-Other	0.76%	—	+67.17%
26	KF	Korea Fund INC	Stock-Other	0.74%	—	+185.16%
27	✓	Zweig Fd	Stock-Other	0.71%	—	—
28	ACWI	iShares MSCI ACWI ETF	ETF-Other	0.67%	—	—
29	EEA	European Equity Fund Inc/the	Stock-Other	0.66%	—	-13.23%
30	SMHC	VanEck China Semiconductor ETF	ETF-Emerging Markets	0.62%	—	—
31	✓	Macquarie	Stock-Other	0.53%	—	+59.94%
32	XXCHNXX	China Fund INC	Stock-Other	0.53%	—	+553.91%
33	✓	Korea Equity Fund	Stock-Other	0.52%	—	-13.48%
34	✓	Jpmorgan China Region Fd INC	Stock-Other	0.51%	—	+27.97%
35	RQI	Cohen & Steers Qual INC Rlty	Stock-Other	0.51%	—	—
36	✓	Japan Equity Fd INC	Stock-Other	0.50%	—	+77.46%
37	✓	Denali Fd INC	Stock-Other	0.48%	—	—
38	IFN	Aberdeen India Fund INC	Stock-Other	0.39%	—	-21.17%
39	JOF	Japan Smaller Capitalization	Stock-Other	0.35%	—	+18.55%
40	TWN	Taiwan Fund Inc/th/md-us INC	Stock-Other	0.35%	—	+85.86%
41	ECF	Ellsworth Growth And Income	Stock-Other	0.35%	—	-56.28%
42	BCV	Bancroft Fund LTD	Stock-Other	0.33%	—	-31.46%
43	XGLQX	Clough Global Equity Fund	Stock-Other	0.33%	—	-12.63%
44	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	0.32%	—	+52.08%
45	✓	New Ireland Fund INC	Stock-Other	0.29%	—	+274.06%
46	✓	Aberdeen Indonesia Fd INC	Stock-Other	0.28%	—	+135.46%
47	EZU	Ishares Msci Eurozone ETF	ETF-Other	0.27%	—	—
48	FEZ	State Street Spdr Euro Stoxx	ETF-Other	0.27%	—	—
49	IEV	Ishares Europe ETF	ETF-Other	0.27%	—	—
50	TLT	iShares 20+ Year Treasury Bond ETF	ETF-Gov Bonds	0.26%	—	—

1–50 of 67

Holding changes this quarter

Position changes disclosed by Gramercy Funds Management LLC for the quarter ending Q1 2014, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	✓	Petroleum & Res CORP	+0.7%	—	Unchanged
2	FXI	Ishares China Large-cap ETF	+0.6%	+21.61%	Add
3	MMT	Aberdeen Multi-Market Income Fund	+0.6%	+100.71%	Add
4	CEE	Central And Eastern Europe F	+0.5%	+115.73%	Add
5	KF	Korea Fund INC	+0.5%	+185.16%	Add
6	RVT	Royce Small-cap Trust INC	+0.5%	-4.42%	Trim
7	IIF	Morgan Stanley India Invest	+0.5%	—	Unchanged
8	XXCHNXX	China Fund INC	+0.5%	+553.91%	Add
9	✓	Banro CORP	+0.5%	+33.33%	Add
10	ADX	Adams Diversified Equity	+0.4%	-6.53%	Trim
11	GF	New Germany Fund Inc/the	+0.4%	+67.17%	Add
12	✓	Boulder Total Return Fd INC	+0.3%	—	Unchanged
13	CET	Central Securities CORP	+0.3%	-6.92%	Trim
14	MXE	Mexico Equity And Income Fd	+0.3%	+29.07%	Add
15	✓	Macquarie	+0.3%	+59.94%	Add
16	✓	New Ireland Fund INC	+0.2%	+274.06%	Add
17	✓	Japan Equity Fd INC	+0.2%	+77.46%	Add
18	✓	Aberdeen Indonesia Fd INC	+0.2%	+135.46%	Add
19	TWN	Taiwan Fund Inc/th/md-us INC	+0.2%	+85.86%	Add
20	✓	Aberdeen Israel Fund INC	+0.2%	+3.42%	Add
21	✓	Jpmorgan China Region Fd INC	+0.1%	+27.97%	Add
22	MMT	Aberdeen Multi-Market Income Fund	+0.1%	+52.08%	Add
23	✓	Morgan Stanley Eastn Eur Fd	+0.1%	+102.04%	Add
24	RMT	Royce Micro-cap Trust INC	+0.1%	-4.11%	Trim
25	✓	Latin Amern Discovery Fd INC	+0.1%	+64.03%	Add
26	EEA	European Equity Fund Inc/the	0%	-13.23%	Trim
27	✓	Korea Equity Fund	0%	-13.48%	Trim
28	BCV	Bancroft Fund LTD	-0.1%	-31.46%	Trim
29	✓	Turkish Invt Fd INC	-0.1%	-53.70%	Trim
30	DXJ	Wisdomtree Japan Hedged Eq	-0.1%	-34.44%	Trim
31	GLV	Clough Global Dividend & INC	-0.2%	-23.39%	Trim
32	ECF	Ellsworth Growth And Income	-0.3%	-56.28%	Trim
33	THFG	Thai Fund INC	-0.4%	+32.94%	Add
34	EWD	Ishares Msci Sweden ETF	-0.4%	-88.42%	Trim
35	BXSY	Bexil Investment Trust	-0.5%	-83.73%	Trim
36	YINNEUR	Drx Dly Ftse China Bull 3x	-0.6%	-1.51%	Trim
37	EEM	Ishares Msci Emerging Market	-5.2%	-74.32%	Trim
38	VWO	Vanguard Ftse Emerging Marke	—	EXIT	Sold out
39	TUR	Ishares Msci Turkey ETF	—	EXIT	Sold out
40	EPI	Wisdomtree India Earnings	—	NEW	New buy
41	NIE	Virtus Equity & Convertible Income Fund	—	EXIT	Sold out
42	DPG	Duff & Phelps Utility & INC	—	NEW	New buy
43	SPY	Ss Spdr S&p 500 ETF Trust-us	—	EXIT	Sold out
44	SMHC	VanEck China Semiconductor ETF	—	EXIT	Sold out
45	EFA	Ishares Msci Eafe ETF	—	EXIT	Sold out
46	ACWI	Ishares Msci Acwi ETF	—	EXIT	Sold out
47	XFEOX	First Trust/abrdn Emerging O	—	NEW	New buy
48	✓	Direxion Daily India Bull 3x	—	EXIT	Sold out
49	RGT	Royce Global Trust INC	—	EXIT	Sold out
50	EWP	Ishares Msci Spain ETF	—	EXIT	Sold out