Gramercy Funds Management

Gramercy Funds Management as of Dec. 31, 2013

Portfolio Holdings for Gramercy Funds Management

Gramercy Funds Management holds 73 positions in its portfolio as reported in the December 2013 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Adams Express Company (ADX) 10.0 $32M 2.4M 13.07
Royce Value Trust (RVT) 9.1 $29M 1.8M 16.01
General American Investors (GAM) 8.9 $28M 806k 35.20
Tri-Continental Corporation (TY) 8.6 $27M 1.4M 19.98
iShares MSCI Emerging Markets Indx (EEM) 7.2 $23M 549k 41.80
Petroleum & Resources Corporation 5.1 $16M 595k 27.38
Central Securities (CET) 4.1 $13M 600k 21.72
Liberty All-Star Equity Fund (USA) 3.9 $13M 2.1M 5.97
Direxion Shs Etf Tr china bull 3x 3.8 $12M 404k 30.10
Thai Fund 3.2 $10M 563k 18.15
Royce Micro Capital Trust (RMT) 2.8 $8.8M 694k 12.61
Vanguard Emerging Markets ETF (VWO) 2.6 $8.1M 198k 41.14
Morgan Stanley Asia Pacific Fund 2.6 $8.1M 491k 16.56
iShares FTSE/Xinhua China 25 Index (FXI) 2.3 $7.4M 192k 38.37
iShares MSCI Turkey Index Fund (TUR) 2.1 $6.8M 142k 47.66
Morgan Stanley India Investment Fund (IIF) 1.9 $5.9M 339k 17.48
Boulder Total Return Fund 1.8 $5.7M 246k 23.01
Boulder Growth & Income Fund (STEW) 1.7 $5.4M 669k 8.04
Banro Corp 1.5 $4.8M 8.6M 0.56
Clough Global Allocation Fun (GLV) 1.0 $3.2M 209k 15.38
Allianzgi Equity & Conv In 0.9 $2.8M 145k 19.52
Mexico Equity and Income Fund (MXE) 0.7 $2.2M 148k 14.88
Ellsworth Fund (ECF) 0.7 $2.1M 262k 8.19
European Equity Fund (EEA) 0.7 $2.1M 239k 8.94
Aberdeen Israel Fund 0.7 $2.1M 122k 16.86
iShares MSCI Japan Index 0.6 $2.0M 169k 12.14
Zweig Fund 0.6 $2.0M 132k 14.86
Dividend & Income Fund (BXSY) 0.6 $2.0M 130k 15.11
Spdr S&p 500 Etf (SPY) 0.6 $1.9M 10k 184.73
Korea Equity Fund 0.5 $1.7M 208k 8.32
Market Vectors Gold Miners ETF 0.5 $1.6M 75k 21.13
Aberdeen Latin Amer Eqty 0.5 $1.6M 56k 28.05
Central Europe and Russia Fund (CEE) 0.5 $1.5M 49k 30.54
iShares MSCI Sweden Index (EWD) 0.4 $1.4M 38k 35.84
Cohen & Steers Quality Income Realty (RQI) 0.4 $1.3M 137k 9.48
New Germany Fund (GF) 0.4 $1.3M 66k 19.94
Bancroft Fund (BCV) 0.4 $1.3M 71k 18.59
Denali Fund 0.4 $1.3M 67k 19.23
India Fund (IFN) 0.4 $1.2M 61k 20.00
Jpmorgan China Region 0.4 $1.2M 79k 15.16
Clough Global Equity Fund closed-end fund (GLQ) 0.3 $1.1M 69k 15.70
Market Vectors Junior Gold Min 0.3 $1.0M 34k 31.04
WisdomTree Japan Total Dividend (DXJ) 0.3 $915k 18k 50.83
Japan Smaller Capitalizaion Fund (JOF) 0.3 $888k 97k 9.17
Macquarie Global Infr Total Rtrn Fnd 0.3 $884k 40k 22.09
Japan Equity Fund 0.3 $858k 123k 6.99
iShares MSCI EMU Index (EZU) 0.2 $761k 18k 41.36
iShares S&P Europe 350 Index (IEV) 0.2 $750k 16k 47.47
Korea (KF) 0.2 $762k 19k 41.27
iShares MSCI United Kingdom Index 0.2 $748k 36k 20.89
Spdr Euro Stoxx 50 Etf (FEZ) 0.2 $764k 18k 42.21
Aberdn Emring Mkts Telecomtions 0.2 $621k 45k 13.80
Asia Pacific Fund 0.2 $594k 57k 10.51
iShares MSCI EAFE Index Fund (EFA) 0.2 $529k 7.9k 67.09
Taiwan Fund (TWN) 0.2 $545k 28k 19.33
iShares MSCI ACWI Index Fund (ACWI) 0.1 $432k 7.5k 57.60
Turkish Investment Fund 0.1 $371k 25k 14.68
Morgan Stanley East. Euro 0.1 $360k 18k 20.27
Latin American Discovery Fund 0.1 $330k 25k 13.05
Aberdeen Indonesia Fund 0.1 $290k 35k 8.25
China Fund (CHN) 0.1 $239k 12k 20.78
Direxion Shs Etf Tr India Bull etf 0.1 $258k 4.7k 54.89
iShares MSCI Spain Index (EWP) 0.1 $212k 5.5k 38.55
Royce Global Value Tr (RGT) 0.1 $216k 24k 8.89
Clough Gbl Opps Fund Sh Ben Int closed-end fund (GLO) 0.1 $203k 16k 13.10
New Ireland Fund 0.1 $199k 16k 12.86
Virtus Total Return Fund Cef 0.1 $176k 45k 3.94
Blackberry (BB) 0.1 $149k 20k 7.45
iShares MSCI Italy Index 0.0 $137k 8.8k 15.57
Swiss Helvetia Fund (SWZ) 0.0 $98k 7.0k 14.00
BlackRock EcoSolutions Investment Trust 0.0 $73k 9.3k 7.85
Cohen & Steers REIT/P (RNP) 0.0 $31k 2.0k 15.50
RMR Asia Pacific Real Estate Fund 0.0 $23k 1.4k 16.63