ISHARES

CUSIP: 464286855 Class: MSCI ITALCPD ETF

Gramercy Funds Management LLC's Holding History (CIK: 0001548836)

Note: Option positions (PUT/CALL) are excluded.

Q4 2013
Shares 8,800 Value ($000) $137 Avg Close — Range —
Q3 2013
Shares 704,100 Value ($000) $9,942 Avg Close — Range —
Q2 2013
Shares 204,100 Value ($000) $2,410 Avg Close — Range —