GRAMERCY FUNDS MANAGEMENT LLC Information

20 DAYTON AVENUE, GREENWICH, Connecticut, 06830, (203) 552-1900

Report Date: 12/31/2014

Position Statistics

Total Positions 79
New Positions 10
Increased Positions 20
Decreased Positions 27
Positions with Activity 47
Sold Out Positions 8
Total Mkt Value (in $ millions) 378

Institutional Holdings information is filed by major institutions on form 13-F with the Securities and Exchange Commission.

Sector Weighting

Basic Materials 0.62%
Capital Goods
Conglomerates
Consumer Cyclical
Consumer/Non-Cyclical
Energy 22.29%
Financial 76.24%
Healthcare
Services
Technology
Transportation
Utilities

79 Positions as of 12/31/2014

Company Class Value of Shares ($1,000s) ▼ Change in Value ($1,000s) Change (%) Shares Held
YPF SOCIEDAD ANONIMA SPON ADR CL D 84,317 80,287 1,992.63 2,803,076
POWERSHARES QQQ TRUST UNIT SER 1 41,988 41,988 New 385,000
ADAMS DIVERSIFIED EQUITY FD COM 28,566 -1,439 (4.8) 2,011,668
GENERAL AMERN INVS INC COM 27,763 160 .58 782,501
TRI CONTL CORP COM 27,596 -1,702 (5.81) 1,253,247
ISHARES TR MSCI EMG MKT ETF 18,852 18,852 New 431,500
BOULDER GROWTH & INCOME FD INC COM 15,123 -285 (1.85) 1,750,360
LIBERTY ALL STAR EQUITY FD SH BEN INT 12,256 New 2,039,229
CENTRAL SECS CORP COM 12,124 New 549,832
ROYCE VALUE TR INC COM 10,317 -6,494 (38.63) 718,450
THAI FD INC COM 5,869 -79 (1.34) 649,970
MARKET VECTORS ETF TR RUSSIA ETF 5,402 5,402 New 272,000
CENTRAL EUR RUSS & TURK FD INC COM 5,284 138 2.68 232,039
MORGAN STANLEY INDIA INVS FD COM 4,890 -114 (2.27) 183,705
MORGAN STANLEY ASIA PAC FD INC COM 4,342 New 261,250
SPDR SERIES TRUST S&P OILGAS EXP 4,188 4,188 New 78,100
ABERDEEN JAPAN EQUITY FD INC COM 3,755 New 446,498
JAPAN SMALLER CAPTLZTN FD INC COM 3,348 New 323,189
ISHARES MSCI BRZ CAP ETF 3,337 3,337 New 92,000
ABERDEEN LATIN AMER EQTY FD COM 3,106 -33 (1.05) 141,621