Gramercy Funds Management LLC Hedge Fund

Location: West Palm Beach, FL

CIK: 0001548836 · Show all filings

Period: Q1 2019 (← Previous) (Next →)

Filing Date: May 15, 2019

Total Value: $374M (100.0% shares, 0.0% debt)

Holdings (20)

HYG ISHARES TR 46.2%

Value $173M Shares 2,000,000 Est. Cost — Unrealized —

SPY SPDR S&P 500 ETF TR 9.4%

Value $35.34M Shares 125,100 Est. Cost $282.47 Unrealized —

— BRF SA 6.9%

Value $25.7M Shares 4,415,053 Est. Cost $5.12 Unrealized —

GPRK GEOPARK LTD 5.6%

Value $20.79M Shares 1,202,252 Est. Cost $17.24 Unrealized +2.8%

— COSAN LTD 5.4%

Value $20.04M Shares 1,729,333 Est. Cost $8.15 Unrealized —

YPF YPF SOCIEDAD ANONIMA 5.1%

Value $18.99M Shares 1,355,745 Est. Cost $14.01 Unrealized —

EEM ISHARES TR 4.8%

Value $17.81M Shares 415,000 Est. Cost $39.06 Unrealized —

FTI TECHNIPFMC PLC 3.2%

Value $11.96M Shares 760,744 Est. Cost $17.04 Unrealized -6.8%

GGB GERDAU S A 2.2%

Value $8.278M Shares 2,133,519 Est. Cost $3.88 Unrealized —

VALE VALE S A 2.2%

Value $8.224M Shares 629,700 Est. Cost $13.06 Unrealized —

RIG TRANSOCEAN LTD 2.0%

Value $7.598M Shares 782,679 Est. Cost $11.13 Unrealized -23.0%

— ENSCO PLC 1.3%

Value $5.012M Shares 213,100 Est. Cost $6.08 Unrealized —

CCU COMPANIA CERVECERIAS UNIDAS 1.3%

Value $4.773M Shares 162,000 Est. Cost $29.46 Unrealized —

SPY SPDR S&P 500 ETF TR 1.3%

Value $4.689M Shares 16,600 Est. Cost $282.47 Unrealized —

TDW TIDEWATER INC NEW 1.2%

Value $4.327M Shares 186,576 Est. Cost $29.89 Unrealized -24.9%

BMA BANCO MACRO SA 0.7%

Value $2.746M Shares 60,000 Est. Cost $58.78 Unrealized —

PAM PAMPA ENERGIA S A 0.5%

Value $2.018M Shares 73,196 Est. Cost $35.77 Unrealized —

BHC BAUSCH HEALTH COS INC 0.3%

Value $1.289M Shares 52,200 Est. Cost $22.90 Unrealized +4.3%

BHC BAUSCH HEALTH COS INC 0.2%

Value $926K Shares 37,500 Est. Cost $22.90 Unrealized +4.3%

— GLOBAL X FDS 0.2%

Value $804K Shares 100,000 Est. Cost $9.13 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	2,000,000	$173M	46.2%	—	—	Put	464288513
SPY	SPDR S&P 500 ETF TR	125,100	$35.34M	9.4%	$282.47	—	Put	78462F103
—	BRF SA	4,415,053	$25.7M	6.9%	$5.12	—	SPONSORED ADR	10552T107
GPRK	GEOPARK LTD	1,202,252	$20.79M	5.6%	$17.24	+2.8%	USD SHS	G38327105
—	COSAN LTD	1,729,333	$20.04M	5.4%	$8.15	—	SHS A	G25343107
YPF	YPF SOCIEDAD ANONIMA	1,355,745	$18.99M	5.1%	$14.01	—	SPON ADR CL D	984245100
EEM	ISHARES TR	415,000	$17.81M	4.8%	$39.06	—	MSCI EMG MKT ETF	464287234
FTI	TECHNIPFMC PLC	760,744	$11.96M	3.2%	$17.04	-6.8%	COM	G87110105
GGB	GERDAU S A	2,133,519	$8.278M	2.2%	$3.88	—	SPON ADR REP PFD	373737105
VALE	VALE S A	629,700	$8.224M	2.2%	$13.06	—	SPONSORED ADS	91912E105
RIG	TRANSOCEAN LTD	782,679	$7.598M	2.0%	$11.13	-23.0%	REG SHS	H8817H100
—	ENSCO PLC	213,100	$5.012M	1.3%	$6.08	—	SHS CLASS A	G3157S106
CCU	COMPANIA CERVECERIAS UNIDAS	162,000	$4.773M	1.3%	$29.46	—	SPONSORED ADR	204429104
SPY	SPDR S&P 500 ETF TR	16,600	$4.689M	1.3%	$282.47	—	TR UNIT	78462F103
TDW	TIDEWATER INC NEW	186,576	$4.327M	1.2%	$29.89	-24.9%	COM	88642R109
BMA	BANCO MACRO SA	60,000	$2.746M	0.7%	$58.78	—	SPON ADR B	05961W105
PAM	PAMPA ENERGIA S A	73,196	$2.018M	0.5%	$35.77	—	SPONS ADR LVL I	697660207
BHC	BAUSCH HEALTH COS INC	52,200	$1.289M	0.3%	$22.90	+4.3%	Call	071734107
BHC	BAUSCH HEALTH COS INC	37,500	$926K	0.2%	$22.90	+4.3%	COM	071734107
—	GLOBAL X FDS	100,000	$804K	0.2%	$9.13	—	MSCI GREECE ETF	37950E366