Gramercy Funds Management LLC — Q1 2015 13F Holdings

Name: Gramercy Funds Management LLC — 13F Holdings, Q1 2015
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	YPF	Ypf S.a.-sponsored Adr	Stock-Other	17.22%	—	-21.76%
2	✓	Powershares Qqq Trust Ser 1	Stock-Other	12.70%	—	+9.25%
3	ADX	Adams Diversified Equity	Stock-Other	7.72%	—	-3.88%
4	GAM	General American Investors	Stock-Other	7.64%	—	-2.39%
5	TY	Tri-continental CORP	Stock-Other	7.57%	—	-2.59%
6	IWO	Ishares Russell 2000 Growth	ETF-Small Cap	4.55%	—	—
7	STEW	Srh Total Return Fund INC	Stock-Other	4.16%	—	+120.01%
8	EEM	Ishares Msci Emerging Market	ETF-Emerging Markets	3.61%	—	-27.11%
9	CET	Central Securities CORP	Stock-Other	3.44%	—	+0.22%
10	USA	Liberty All Star Equity Fund	Stock-Other	3.41%	—	—
11	RVT	Royce Small-cap Trust INC	Stock-Other	2.96%	—	+0.60%
12	THFG	Thai Fund INC	Stock-Other	1.62%	—	-0.06%
13	IIF	Morgan Stanley India Invest	Stock-Other	1.46%	—	-0.45%
14	✓	Morgan Stanley Asia Pac Fd I	Stock-Other	1.15%	—	-2.11%
15	CEE	Central And Eastern Europe F	Stock-Other	1.15%	—	-15.49%
16	SMHC	VanEck China Semiconductor ETF	ETF-Emerging Markets	1.08%	—	-18.38%
17	XJEQX	Abrdn Japan Equity Fund INC	Stock-Other	1.03%	—	—
18	IWF	Ishares Russell 1000 Growth	ETF-Other	0.99%	—	—
19	EWZ	Ishares Msci Brazil ETF	ETF-Other	0.99%	—	+19.46%
20	EFA	Ishares Msci Eafe ETF	ETF-Other	0.92%	—	—
21	SWZ	Total Return Securities Fund	Stock-Other	0.89%	—	+235.22%
22	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	0.84%	—	+1.95%
23	XCAFX	Morgan Stanley China A Share	Stock-Other	0.83%	—	—
24	SMHC	VanEck China Semiconductor ETF	ETF-Emerging Markets	0.78%	—	—
25	JOF	Japan Smaller Capitalization	Stock-Other	0.72%	—	-21.31%
26	KF	Korea Fund INC	Stock-Other	0.71%	—	+6.21%
27	MXE	Mexico Equity And Income Fd	Stock-Other	0.69%	—	+5.50%
28	✓	Turkish Invt Fd INC	Stock-Other	0.66%	—	-21.30%
29	✓	Jpmorgan China Region Fd INC	Stock-Other	0.65%	—	+19.36%
30	GLV	Clough Global Dividend & INC	Stock-Other	0.58%	—	—
31	✓	Macquarie	Stock-Other	0.52%	—	+40.88%
32	✓	Banro CORP	Stock-Other	0.52%	—	-16.38%
33	GREKUSD	Global X Msci Greece ETF	ETF-Other	0.47%	—	—
34	✓	Korea Equity Fund	Stock-Other	0.47%	—	—
35	EEA	European Equity Fund Inc/the	Stock-Other	0.46%	—	-10.61%
36	✓	Aberdeen Israel Fund INC	Stock-Other	0.42%	—	-0.68%
37	TWN	Taiwan Fund Inc/th/md-us INC	Stock-Other	0.37%	—	+1.19%
38	TRF	Templeton Russia & East Euro	Stock-Other	0.36%	—	-24.38%
39	ECF	Ellsworth Growth And Income	Stock-Other	0.28%	—	—
40	✓	New Ireland Fund INC	Stock-Other	0.27%	—	-3.56%
41	XOPUSD	Spdr S&p Oil & Gas Exp & Pr	ETF-Other	0.27%	—	-76.82%
42	XXCHNXX	China Fund INC	Stock-Other	0.26%	—	-14.37%
43	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	0.25%	—	—
44	✓	Aberdeen Indonesia Fd INC	Stock-Other	0.24%	—	—
45	✓	Singapore Fund	Stock-Other	0.23%	—	-18.09%
46	✓	Latin Amern Discovery Fd INC	Stock-Other	0.22%	—	+29.92%
47	TDF	Templeton Dragon Fund INC	Stock-Other	0.19%	—	—
48	✓	Direxion Shs ETF Tr	ETF-Other	0.19%	—	—
49	SOR	Source Capital	Stock-Other	0.17%	—	—
50	XFEOX	First Trust/abrdn Emerging O	Stock-Other	0.17%	—	—

1–50 of 67

Holding changes this quarter

Position changes disclosed by Gramercy Funds Management LLC for the quarter ending Q1 2015, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	STEW	Srh Total Return Fund INC	+2.2%	+120.01%	Add
2	✓	Powershares Qqq Trust Ser 1	+1.5%	+9.25%	Add
3	SWZ	Total Return Securities Fund	+0.6%	+235.22%	Add
4	XJEQX	Abrdn Japan Equity Fund INC	+0.2%	—	Unchanged
5	✓	Macquarie	+0.2%	+40.88%	Add
6	✓	Jpmorgan China Region Fd INC	+0.2%	+19.36%	Add
7	✓	Banro CORP	+0.1%	-16.38%	Trim
8	KF	Korea Fund INC	+0.1%	+6.21%	Add
9	TY	Tri-continental CORP	0%	-2.59%	Trim
10	ADX	Adams Diversified Equity	0%	-3.88%	Trim
11	USA	Liberty All Star Equity Fund	0%	—	Unchanged
12	GAM	General American Investors	-0.1%	-2.39%	Trim
13	MMT	Aberdeen Multi-Market Income Fund	-0.1%	+1.95%	Add
14	TRF	Templeton Russia & East Euro	-0.1%	-24.38%	Trim
15	✓	Singapore Fund	-0.1%	-18.09%	Trim
16	JOF	Japan Smaller Capitalization	-0.1%	-21.31%	Trim
17	CEE	Central And Eastern Europe F	-0.1%	-15.49%	Trim
18	✓	Turkish Invt Fd INC	-0.3%	-21.30%	Trim
19	UTF	Cohen & Steers Infrastructur	-0.5%	-92.52%	Trim
20	THFG	Thai Fund INC	-0.5%	-0.06%	Trim
21	XOPUSD	Spdr S&p Oil & Gas Exp & Pr	-0.8%	-76.82%	Trim
22	EEM	Ishares Msci Emerging Market	-1.2%	-27.11%	Trim
23	YPF	Ypf S.a.-sponsored Adr	-3.6%	-21.76%	Trim
24	IWO	Ishares Russell 2000 Growth	—	NEW	New buy
25	✓	Boulder Total Return Fd INC	—	EXIT	Sold out
26	IWF	Ishares Russell 1000 Growth	—	NEW	New buy
27	EFA	Ishares Msci Eafe ETF	—	NEW	New buy
28	XCAFX	Morgan Stanley China A Share	—	NEW	New buy
29	DPG	Duff & Phelps Utility & INC	—	EXIT	Sold out
30	ACWI	iShares MSCI ACWI ETF	—	EXIT	Sold out
31	RQI	Cohen & Steers Qual INC Rlty	—	EXIT	Sold out
32	GREKUSD	Global X Msci Greece ETF	—	NEW	New buy
33	✓	Denali Fd INC	—	EXIT	Sold out
34	DXJ	Wisdomtree Japan Hedged Eq	—	EXIT	Sold out
35	XRNPX	Cohen & Steers Reit And Pref	—	EXIT	Sold out
36	EWH	Ishares Msci Hong Kong ETF	—	EXIT	Sold out
37	✓	Morgan Stanley Eastn Eur Fd	—	EXIT	Sold out
38	IEV	Ishares Europe ETF	—	EXIT	Sold out
39	EZU	Ishares Msci Eurozone ETF	—	EXIT	Sold out
40	FEZ	State Street Spdr Euro Stoxx	—	EXIT	Sold out
41	✓	Direxion Shs ETF Tr	—	NEW	New buy
42	TLT	iShares 20+ Year Treasury Bond ETF	—	EXIT	Sold out
43	✓	Lmp Real Estate Income Fd In	—	EXIT	Sold out
44	SOR	Source Capital	—	NEW	New buy
45	✓	Asia Pac Fd INC	—	NEW	New buy
46	FXI	Ishares China Large-cap ETF	—	EXIT	Sold out
47	EZA	Ishares Msci South Africa Et	—	NEW	New buy
48	✓	Direxion Daily India Bull 3x	—	NEW	New buy
49	TMLP	Tortoise MLP ETF	—	EXIT	Sold out
50	BCV	Bancroft Fund LTD	—	NEW	New buy