Gramercy Investment Advisors LLC [Rocket]

Holdings

Gramercy Investment Advisors LLC

Changes: All | New | Increased | Decreased | Sold Out

Portfolio as of:

Name	Ticker	Class	Shares	Change	Value	Change	% Port	% OS	Hist	Date
TEKLA HEALTHCARE INVESTORS	HQH	COM	110,138	-247,485	1,554,000	-3,149,000	0.64		Hist	12/31/2011
MORGAN STANLEY ASIA-PACIFIC FUND, INC.	APF	Common	578,444	-58,106	7,578,000	-1,353,000	3.10		Hist	12/31/2011
KOREA EQUITY FUND INC	KEF	Common	282,619	-60,427	2,566,000	-1,273,000	1.05		Hist	12/31/2011
ROYCE MICRO CAP TRUST INC	RMT	Common	99,921	-114,957	876,000	-766,000	0.36		Hist	12/31/2011
ABERDEEN INDONESIA FUND, INC.	IF	Common	7,819	-47,181	92,000	-552,000	0.04		Hist	12/31/2011
TEKLA LIFE SCIENCES INVESTORS	HQL	Common	252,859	-76,997	2,900,000	-550,000	1.19		Hist	12/31/2011
JPMORGAN CHINA REGION FUND, INC.	JFC	Common	164,851	-38,200	1,817,000	-392,000	0.74		Hist	12/31/2011
KOREA FUND INC	KF	Common	6,021	-7,100	215,000	-273,000	0.09		Hist	12/31/2011
TAIWAN FUND INC	TWN	Common	312,210	-4,425	4,524,000	-232,000	1.85		Hist	12/31/2011
MEXICO EQUITY & INCOME FUND INC	MXE	Common	120,249	-14,450	1,196,000	-96,000	0.49		Hist	12/31/2011
MAY DEPARTMENT STORES CO	MAY	COM	10,427	-8,742	94,000	-80,000	0.04		Hist	12/31/2011
ASIA PACIFIC FUND INC	APB	Common	47,028	-6,920	442,000	-63,000	0.18		Hist	12/31/2011
ABERDEEN EMERGING MARKETS SMALLER Co OPPORTUNITIES FUND, INC.	ETF	Common	54,839	-5,261	961,000	-49,000	0.39		Hist	12/31/2011
THAI CAPITAL FUND INC	TF	Common	51,117	-2,650	439,000	-12,000	0.18		Hist	12/31/2011
LIBERTY ALL STAR GROWTH FUND INC.	ASG	Common	463,543	-29,175	1,766,000	-8,000	0.72		Hist	12/31/2011
DIAMOND HILL FINANCIAL TRENDS FUND, INC	DHFT	COM	8,917	-1,700	74,000	-6,000	0.03		Hist	12/31/2011
iShares, Inc.	EZA	Common	2,800	-300	171,000	-4,000	0.07		Hist	12/31/2011
BANCROFT FUND LTD	BCV	Common	128,480	-1,000	1,943,000	27,000	0.80		Hist	12/31/2011
ADAMS DIVERSIFIED EQUITY FUND, INC.	ADX	COMMON STOCK	2,612,190	-62,185	25,182,000	551,000	10.31		Hist	12/31/2011
BOULDER TOTAL RETURN FUND INC	BTF	Common	377,815	-500	5,705,000	598,000	2.33		Hist	12/31/2011
ROYCE VALUE TRUST, INC.	RVT	Common	979,453	-27,012	12,018,000	866,000	4.92		Hist	12/31/2011