Gramercy Funds Management LLC — Q1 2017 13F Holdings

Name: Gramercy Funds Management LLC — 13F Holdings, Q1 2017
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	CSAN	Cosan S.A.	Stock-Other	30.65%	—	+162.70%
2	YPF	Ypf S.a.-sponsored Adr	Stock-Other	19.88%	—	-35.74%
3	XCAFX	Morgan Stanley China A Share	Stock-Other	6.16%	—	+58.34%
4	KF	Korea Fund INC	Stock-Other	4.92%	—	-2.66%
5	✓	Jpmorgan China Region Fd INC	Stock-Other	3.28%	—	—
6	THFG	Thai Fund INC	Stock-Other	3.15%	—	-46.25%
7	EEM	Ishares Msci Emerging Market	ETF-Emerging Markets	2.85%	—	—
8	TWN	Taiwan Fund Inc/th/md-us INC	Stock-Other	2.80%	—	+1.91%
9	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	2.66%	—	-29.90%
10	✓	Singapore Fund	Stock-Other	2.61%	—	+2.89%
11	✓	Korea Equity Fund	Stock-Other	2.42%	—	—
12	PAG	Penske Automotive Group INC	Stock-Consumer Disc	2.10%	—	—
13	TDF	Templeton Dragon Fund INC	Stock-Other	2.04%	—	+120.57%
14	IIF	Morgan Stanley India Invest	Stock-Other	1.57%	—	—
15	XXCHNXX	China Fund INC	Stock-Other	1.38%	—	—
16	✓	Aberdeen Indonesia Fd INC	Stock-Other	1.32%	—	+4.97%
17	✓	Banro CORP	Stock-Other	1.25%	—	—
18	✓	Asia Pac Fd INC	Stock-Other	1.17%	—	+0.13%
19	VALE	Vale S.A.	Stock-Materials	1.10%	—	+65.00%
20	✓	Stone Hbr Emerg Mkts Tl INC	Stock-Other	1.03%	—	—
21	GREKUSD	Global X Msci Greece ETF	ETF-Other	0.96%	—	—
22	XFEOX	First Trust/abrdn Emerging O	Stock-Other	0.89%	—	+351.40%
23	UBR	Proshares Ultra Msci Brazil	ETF-Other	0.69%	—	-15.79%
24	AEF	Abrdn Emerging Markets Ex Ch	Stock-Other	0.67%	—	—
25	GLOB	Globant S.A.	Stock-Tech	0.49%	—	—
26	EZA	Ishares Msci South Africa Et	ETF-Other	0.33%	—	-36.52%
27	BMA	Banco Macro Sa-adr	Stock-Other	0.33%	—	—
28	✓	Latin Amern Discovery Fd INC	Stock-Other	0.33%	—	+239.75%
29	IFN	Aberdeen India Fund INC	Stock-Other	0.32%	—	—
30	✓	Adecoagro SA	Stock-Other	0.27%	—	—
31	✓	Morgan Stanley Asia Pac Fd I	Stock-Other	0.21%	—	-46.31%
32	MXE	Mexico Equity And Income Fd	Stock-Other	0.07%	—	-96.19%
33	MMT	Aberdeen Multi-Market Income Fund	Stock-Other	0.06%	—	—
34	✓	Asia Tigers Fund	Stock-Other	0.03%	—	—
35	✓	Herzfeld Credit Income Fund	Stock-Other	0.02%	—	—

Holding changes this quarter

Position changes disclosed by Gramercy Funds Management LLC for the quarter ending Q1 2017, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	CSAN	Cosan S.A.	+26.3%	+162.70%	Add
2	YPF	Ypf S.a.-sponsored Adr	+10.9%	-35.74%	Trim
3	XCAFX	Morgan Stanley China A Share	+4.7%	+58.34%	Add
4	KF	Korea Fund INC	+3.1%	-2.66%	Trim
5	✓	Jpmorgan China Region Fd INC	+2.1%	—	Unchanged
6	TWN	Taiwan Fund Inc/th/md-us INC	+1.8%	+1.91%	Add
7	EEM	Ishares Msci Emerging Market	+1.8%	—	Unchanged
8	✓	Singapore Fund	+1.7%	+2.89%	Add
9	TDF	Templeton Dragon Fund INC	+1.7%	+120.57%	Add
10	✓	Korea Equity Fund	+1.6%	—	Unchanged
11	MMT	Aberdeen Multi-Market Income Fund	+1.3%	-29.90%	Trim
12	PAG	Penske Automotive Group INC	+1.1%	—	Unchanged
13	IIF	Morgan Stanley India Invest	+1%	—	Unchanged
14	THFG	Thai Fund INC	+0.9%	-46.25%	Trim
15	✓	Aberdeen Indonesia Fd INC	+0.9%	+4.97%	Add
16	XXCHNXX	China Fund INC	+0.9%	—	Unchanged
17	XFEOX	First Trust/abrdn Emerging O	+0.8%	+351.40%	Add
18	✓	Asia Pac Fd INC	+0.8%	+0.13%	Add
19	VALE	Vale S.A.	+0.7%	+65.00%	Add
20	✓	Stone Hbr Emerg Mkts Tl INC	+0.6%	—	Unchanged
21	GREKUSD	Global X Msci Greece ETF	+0.6%	—	Unchanged
22	✓	Banro CORP	+0.5%	—	Unchanged
23	AEF	Abrdn Emerging Markets Ex Ch	+0.4%	—	Unchanged
24	UBR	Proshares Ultra Msci Brazil	+0.4%	-15.79%	Trim
25	✓	Latin Amern Discovery Fd INC	+0.3%	+239.75%	Add
26	IFN	Aberdeen India Fund INC	+0.2%	—	Unchanged
27	✓	Adecoagro SA	+0.2%	—	Unchanged
28	EZA	Ishares Msci South Africa Et	+0.1%	-36.52%	Trim
29	✓	Morgan Stanley Asia Pac Fd I	+0.1%	-46.31%	Trim
30	MMT	Aberdeen Multi-Market Income Fund	0%	—	Unchanged
31	MXE	Mexico Equity And Income Fd	-0.6%	-96.19%	Trim
32	ACWI	Ishares Msci Acwi ETF	—	EXIT	Sold out
33	BAK	Braskem Sa-class A- Adr	—	EXIT	Sold out
34	EDC	Dir Da Ms Em Ma Bul 3x Etf-u	—	EXIT	Sold out
35	STEW	Srh Total Return Fund INC	—	EXIT	Sold out
36	RVT	Royce Small-cap Trust INC	—	EXIT	Sold out
37	ADX	Adams Diversified Equity	—	EXIT	Sold out
38	CET	Central Securities CORP	—	EXIT	Sold out
39	TY	Tri-continental CORP	—	EXIT	Sold out
40	RSX1USD	Vaneck Vectors Russia ETF	—	EXIT	Sold out
41	USA	Liberty All Star Equity Fund	—	EXIT	Sold out
42	GAM	General American Investors	—	EXIT	Sold out
43	PINE	Alpine Income Property Trust, Inc.	—	EXIT	Sold out
44	XJEQX	Abrdn Japan Equity Fund INC	—	EXIT	Sold out
45	✓	Aberdeen Israel Fund INC	—	EXIT	Sold out
46	RMT	Royce Micro-cap Trust INC	—	EXIT	Sold out
47	GLOB	Globant S.A.	—	NEW	New buy
48	✓	Turkish Invt Fd INC	—	EXIT	Sold out
49	✓	Aberdeen Gtr China Fd INC	—	EXIT	Sold out
50	BMA	Banco Macro Sa-adr	—	NEW	New buy