PROSHARES TR

Ticker: UBR CUSIP: 74347B490 Class: ULTRA MSCI BRAZI

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

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

Q1 2017

Shares 8,000 Value ($000) $577 Avg Close — Range —

Q4 2016

Shares 9,500 Value ($000) $548 Avg Close — Range —

Q3 2016

Shares 14,000 Value ($000) $832 Avg Close — Range —

Q2 2016

Shares 3,200 Value ($000) $156 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2017	8,000	$577	—	—
Q4 2016	9,500	$548	—	—
Q3 2016	14,000	$832	—	—
Q2 2016	3,200	$156	—	—