Gramercy Funds Management LLC — Q2 2016 13F Holdings

Name: Gramercy Funds Management LLC — 13F Holdings, Q2 2016
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	RVT	Royce Small-cap Trust INC	Stock-Other	9.54%	—	+0.14%
2	TY	Tri-continental CORP	Stock-Other	9.32%	—	-0.09%
3	GAM	General American Investors	Stock-Other	9.22%	—	-2.39%
4	ADX	Adams Diversified Equity	Stock-Other	8.89%	—	-0.84%
5	USA	Liberty All Star Equity Fund	Stock-Other	7.95%	—	+8.79%
6	CET	Central Securities CORP	Stock-Other	6.06%	—	-0.06%
7	STEW	Srh Total Return Fund INC	Stock-Other	5.05%	—	-0.04%
8	YPF	Ypf S.a.-sponsored Adr	Stock-Other	4.60%	—	-90.76%
9	XCAFX	Morgan Stanley China A Share	Stock-Other	2.89%	—	-24.53%
10	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	2.80%	—	+2013.33%
11	PINE	Alpine Income Property Trust, Inc.	Stock-Other	2.17%	—	-0.28%
12	THFG	Thai Fund INC	Stock-Other	2.16%	—	-2.90%
13	RMT	Royce Micro-cap Trust INC	Stock-Other	2.02%	—	-8.90%
14	KF	Korea Fund INC	Stock-Other	1.93%	—	-5.53%
15	SWZ	Total Return Securities Fund	Stock-Other	1.78%	—	-2.37%
16	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	1.54%	—	+2.40%
17	JOF	Japan Smaller Capitalization	Stock-Other	1.36%	—	—
18	XJEQX	Abrdn Japan Equity Fund INC	Stock-Other	1.36%	—	-4.54%
19	✓	Morgan Stanley Asia Pac Fd I	Stock-Other	1.30%	—	—
20	✓	Jpmorgan China Region Fd INC	Stock-Other	1.20%	—	-12.61%
21	MXE	Mexico Equity And Income Fd	Stock-Other	1.12%	—	-9.09%
22	CSQ	Calamos Strat Ttl Rtrn Fnd	Stock-Other	1.12%	—	-21.65%
23	✓	Banro CORP	Stock-Other	1.03%	—	—
24	EZA	Ishares Msci South Africa Et	ETF-Other	0.96%	—	+228.53%
25	RSX1USD	Vaneck Vectors Russia ETF	ETF-Other	0.90%	—	—
26	CEE	Central And Eastern Europe F	Stock-Other	0.82%	—	-13.41%
27	✓	Korea Equity Fund	Stock-Other	0.76%	—	-0.47%
28	TWN	Taiwan Fund Inc/th/md-us INC	Stock-Other	0.70%	—	—
29	✓	Singapore Fund	Stock-Other	0.69%	—	+7.71%
30	EEA	European Equity Fund Inc/the	Stock-Other	0.60%	—	—
31	✓	Stone Hbr Emerg Mkts Tl INC	Stock-Other	0.56%	—	—
32	✓	Aberdeen Israel Fund INC	Stock-Other	0.55%	—	-5.83%
33	✓	Turkish Invt Fd INC	Stock-Other	0.53%	—	—
34	MXF	Mexico Fund INC	Stock-Other	0.52%	—	+55.97%
35	IIF	Morgan Stanley India Invest	Stock-Other	0.52%	—	-67.30%
36	BCX	Blackrock Resources & Commod	Stock-Other	0.50%	—	+108.84%
37	PAG	Penske Automotive Group INC	Stock-Consumer Disc	0.49%	—	—
38	XFEOX	First Trust/abrdn Emerging O	Stock-Other	0.41%	—	-25.84%
39	XXCHNXX	China Fund INC	Stock-Other	0.40%	—	+38.21%
40	✓	Aberdeen Indonesia Fd INC	Stock-Other	0.38%	—	—
41	✓	New Ireland Fund INC	Stock-Other	0.37%	—	-5.95%
42	ECF	Ellsworth Growth And Income	Stock-Other	0.37%	—	—
43	GREKUSD	Global X Msci Greece ETF	ETF-Other	0.30%	—	-36.06%
44	✓	Asia Pac Fd INC	Stock-Other	0.27%	—	—
45	TDF	Templeton Dragon Fund INC	Stock-Other	0.26%	—	-4.85%
46	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	0.23%	—	-8.05%
47	✓	Latin Amern Discovery Fd INC	Stock-Other	0.22%	—	-9.18%
48	AEF	Abrdn Emerging Markets Ex Ch	Stock-Other	0.21%	—	-13.03%
49	✓	Macquarie	Stock-Other	0.19%	—	-73.33%
50	✓	Aberdeen Gtr China Fd INC	Stock-Other	0.16%	—	-23.82%

1–50 of 59

Holding changes this quarter

Position changes disclosed by Gramercy Funds Management LLC for the quarter ending Q2 2016, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	TY	Tri-continental CORP	+3%	-0.09%	Trim
2	RVT	Royce Small-cap Trust INC	+2.9%	+0.14%	Add
3	USA	Liberty All Star Equity Fund	+2.9%	+8.79%	Add
4	SPY	Ss Spdr S&p 500 ETF Trust-us	+2.7%	+2013.33%	Add
5	ADX	Adams Diversified Equity	+2.6%	-0.84%	Trim
6	GAM	General American Investors	+2.5%	-2.39%	Trim
7	CET	Central Securities CORP	+1.9%	-0.06%	Trim
8	STEW	Srh Total Return Fund INC	+1.6%	-0.04%	Trim
9	EZA	Ishares Msci South Africa Et	+0.8%	+228.53%	Add
10	THFG	Thai Fund INC	+0.7%	-2.90%	Trim
11	MMT	Aberdeen Multi-Market Income Fund	+0.6%	+2.40%	Add
12	PINE	Alpine Income Property Trust, Inc.	+0.6%	-0.28%	Trim
13	RMT	Royce Micro-cap Trust INC	+0.5%	-8.90%	Trim
14	KF	Korea Fund INC	+0.5%	-5.53%	Trim
15	✓	Banro CORP	+0.4%	—	Unchanged
16	XCAFX	Morgan Stanley China A Share	+0.4%	-24.53%	Trim
17	BCX	Blackrock Resources & Commod	+0.3%	+108.84%	Add
18	MXF	Mexico Fund INC	+0.3%	+55.97%	Add
19	✓	Jpmorgan China Region Fd INC	+0.3%	-12.61%	Trim
20	✓	Singapore Fund	+0.2%	+7.71%	Add
21	MXE	Mexico Equity And Income Fd	+0.2%	-9.09%	Trim
22	XXCHNXX	China Fund INC	+0.2%	+38.21%	Add
23	CSQ	Calamos Strat Ttl Rtrn Fnd	+0.2%	-21.65%	Trim
24	CEE	Central And Eastern Europe F	+0.1%	-13.41%	Trim
25	✓	Aberdeen Israel Fund INC	+0.1%	-5.83%	Trim
26	IRR	Voya Natural Resources Equit	+0.1%	+603.56%	Add
27	PAG	Penske Automotive Group INC	+0.1%	—	Unchanged
28	✓	New Ireland Fund INC	+0.1%	-5.95%	Trim
29	XFEOX	First Trust/abrdn Emerging O	0%	-25.84%	Trim
30	✓	Aberdeen Gtr China Fd INC	0%	-23.82%	Trim
31	✓	Abrdn Australia Equity Fd In	—	-34.04%	Trim
32	GREKUSD	Global X Msci Greece ETF	-0.1%	-36.06%	Trim
33	EWT	iShares MSCI Taiwan ETF	-0.1%	-72.73%	Trim
34	✓	Macquarie	-0.3%	-73.33%	Trim
35	IIF	Morgan Stanley India Invest	-0.5%	-67.30%	Trim
36	YPF	Ypf S.a.-sponsored Adr	-27.9%	-90.76%	Trim
37	RSX1USD	Vaneck Vectors Russia ETF	—	NEW	New buy
38	EDC	Dir Da Ms Em Ma Bul 3x Etf-u	—	EXIT	Sold out
39	SMHC	VanEck China Semiconductor ETF	—	EXIT	Sold out
40	GLO	Clough Global Opportunities	—	EXIT	Sold out
41	EDD	Morgan Stanley Emrg Mrk Dom	—	EXIT	Sold out
42	DPG	Duff & Phelps Utility & INC	—	EXIT	Sold out
43	PINE	Alpine Income Property Trust, Inc.	—	EXIT	Sold out
44	GDL	Gdl Fund	—	EXIT	Sold out
45	BCV	Bancroft Fund LTD	—	EXIT	Sold out
46	GOF	Guggenheim Strategic Opportunities Fund	—	EXIT	Sold out
47	XLGIX	Lazard Glbl Ttl Rtrn & INC	—	EXIT	Sold out
48	UBR	Proshares Ultra Msci Brazil	—	NEW	New buy
49	FUND	Sprott Focus Trust INC	—	EXIT	Sold out
50	GRX	Gabelli Healthcare & Well	—	EXIT	Sold out