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Gramercy Investment Advisors LLC
> MAY
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 12/31/2011 | MAY DEPARTMENT STORES CO | MAY | 10,427 | -8,742 | 94,000 | -80,000 | $9.02 |
| 09/30/2011 | MAY DEPARTMENT STORES CO | MAY | 19,169 | 0 | 174,000 | -42,000 | $9.08 |
| 06/30/2011 | MAY DEPARTMENT STORES CO | MAY | 19,169 | -4,631 | 216,000 | -57,000 | $11.27 |
| 03/31/2011 | MAY DEPARTMENT STORES CO | MAY | 23,800 | 9,900 | 273,000 | 117,000 | $11.47 |
| 12/31/2010 | MAY DEPARTMENT STORES CO | MAY | 13,900 | -100 | 156,000 | 8,000 | $11.22 |
| 09/30/2010 | MAY DEPARTMENT STORES CO | MAY | 14,000 | 0 | 148,000 | 28,000 | $10.57 |
| 06/30/2010 | MAY DEPARTMENT STORES CO | MAY | 14,000 | -65,046 | 120,000 | -568,000 | $8.57 |
| 03/31/2010 | MAY DEPARTMENT STORES CO | MAY | 79,046 | 0 | 688,000 | 91,000 | $8.70 |
| 12/31/2009 | MAY DEPARTMENT STORES CO | MAY | 79,046 | 25,209 | 597,000 | 207,000 | $7.55 |
| 09/30/2009 | MAY DEPARTMENT STORES CO | MAY | 53,837 | 4,204 | 390,000 | 76,000 | $7.24 |
| 06/30/2009 | MAY DEPARTMENT STORES CO | MAY | 49,633 | 38,933 | 314,000 | 262,000 | $6.33 |
| 03/31/2009 | MAY DEPARTMENT STORES CO | MAY | 10,700 | 10,700 | 52,000 | 52,000 | $4.86 |
| 12/31/2008 | MAY DEPARTMENT STORES CO | MAY | 400 | -4,800 | 2,000 | -33,000 | $5.00 |
| 09/30/2008 | MAY DEPARTMENT STORES CO | MAY | 5,200 | 5,200 | 35,000 | 35,000 | $6.73 |
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