Relative Value Partners 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ABERDEEN ASIA PACIFIC INCOM	COM	003009107	118	20,494	SH		SOLE		20,494	0	0
ALEXCO RESOURCE CORP	COM	01535P106	20	15,500	SH		SOLE		15,500	0	0
ALLIANCEBERNSTEIN INCOME FD	COM	01881E101	38,484	5,397,456	SH		SOLE		5,397,456	0	0
ALLIANZGI EQUITY & CONV INCM	COM	018829101	4,713	241,447	SH		SOLE		241,447	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	360	20,300	SH		SOLE		20,300	0	0
ALPINE TOTAL DYNAMIC DIVID	COM SBI	021060108	142	17,000	SH		SOLE		17,000	0	0
APOLLO TACTICAL INCOME FD	COM	037638103	2,878	159,872	SH		SOLE		159,872	0	0
BANK OF AMERICA CORP	COM	060505104	284	18,226	SH		SOLE		18,226	0	0
BLACKROCK CR ALLCTN INC TR	COM	092508100	57,511	4,403,571	SH		SOLE		4,403,571	0	0
BLACKROCK ENH CAP & INC FD	COM	09256A109	3,176	232,351	SH		SOLE		232,351	0	0
BLACKROCK ENHANCED EQT DIV TR	COM	09251A104	31,350	3,948,418	SH		SOLE		3,948,418	0	0
BLACKROCK ENHANCED GOVT FD	COM	09255K108	799	57,294	SH		SOLE		57,294	0	0
BLACKROCK GLOBAL OPP EQTY TR	COM	092501105	18,360	1,227,260	SH		SOLE		1,227,260	0	0
BLACKROCK INTL GRWTH & INC TR	COM BENE INTER	092524107	656	80,681	SH		SOLE		80,681	0	0
BLACKROCK MULTI-SECTOR INCM TR	COM	09258A107	4,606	269,204	SH		SOLE		269,204	0	0
BLACKSTONE GSO LNG SHRT CR INCM	COM SHS BN INT	09257D102	809	45,274	SH		SOLE		45,274	0	0
CHEVRON CORP NEW	COM	166764100	562	4,500	SH		SOLE		4,500	0	0
CISCO SYS INC	COM	17275R102	238	10,600	SH		SOLE		10,600	0	0
CITIGROUP INC	COM NEW	172967424	417	8,000	SH		SOLE		8,000	0	0
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	1,625	124,348	SH		SOLE		124,348	0	0
COHEN & STEERS INFRASTRUCTUR	COM	19248A109	200	9,720	SH		SOLE		9,720	0	0
CONOCOPHILLIPS	COM	20825C104	205	2,900	SH		SOLE		2,900	0	0
CYS INVTS INC	COM	12673A108	80	10,835	SH		SOLE		10,835	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	584	27,675	SH		SOLE		27,675	0	0
EATON VANCE ENHANCED EQ INCM	COM	278274105	2,084	160,327	SH		SOLE		160,327	0	0
EATON VANCE LTD DUR INCOME FD	COM	27828H105	14,716	961,842	SH		SOLE		961,842	0	0
EATON VANCE RISK MNGD DIV EQ	COM	27829G106	34,567	3,067,141	SH		SOLE		3,067,141	0	0
EATON VANCE SH TM DR DIVR	COM	27828V104	4,700	307,817	SH		SOLE		307,817	0	0
EATON VANCE TAX MNGD GBL DV	COM	27829F108	7,135	713,507	SH		SOLE		713,507	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	37,175	3,404,270	SH		SOLE		3,404,270	0	0
EATON VANCE TX MNG BUY WRT OP	COM	27828Y108	2,532	180,733	SH		SOLE		180,733	0	0
EATON VANCE TXMGD GL BUYWR OP	COM	27829C105	254	21,007	SH		SOLE		21,007	0	0
ELLSWORTH FUND LTD	COM	289074106	2,421	295,591	SH		SOLE		295,591	0	0
FIRST TR INTER DUR PFD & INCM FD	COM	33718W103	5,343	251,444	SH		SOLE		251,444	0	0
FLAHERTY & CRUMRINE DYN PFD	SHS	33848W106	4,141	201,710	SH		SOLE		201,710	0	0
GAMCO GLBL GOLD NAT RES & INCM	COM SH BEN INT	36465A109	214	23,753	SH		SOLE		23,753	0	0
GDL FUND	COM SH BEN IT	361570104	303	27,485	SH		SOLE		27,485	0	0
GENERAL ELECTRIC CO	COM	369604103	296	10,560	SH		SOLE		10,560	0	0
GENERAL MTRS CO	W 07/10/2016	37045V118	280	9,000	SH		SOLE		9,000	0	0
GUGGENHEIM CR ALLOCATION FD	COM	40168G108	2,074	92,201	SH		SOLE		92,201	0	0
INTEL CORP	COM	458140100	624	24,031	SH		SOLE		24,031	0	0
INTERVEST BANCSHARES CORP	COM	460927106	174	23,227	SH		SOLE		23,227	0	0
ISHARES	S&P 100 ETF	464287101	59,158	718,376	SH		SOLE		718,376	0	0
ISHARES	SHRT TRS BD ETF	464288679	245	2,220	SH		SOLE		2,220	0	0
ISHARES	MSCI JAPAN ETF	464286848	248	20,412	SH		SOLE		20,412	0	0
ISHARES	MSCI EAFE ETF	464287465	320	4,769	SH		SOLE		4,769	0	0
JOHNSON & JOHNSON	COM	478160104	469	5,120	SH		SOLE		5,120	0	0
JPMORGAN CHASE & CO	COM	46625H100	336	5,750	SH		SOLE		5,750	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	18,320	3,068,607	SH		SOLE		3,068,607	0	0
LOEWS CORP	COM	540424108	830	17,200	SH		SOLE		17,200	0	0
MACQUARIE GLBL INFRA TOTL RET FD	COM	55608D101	1,200	54,319	SH		SOLE		54,319	0	0
MARKET VECTORS ETF TR	GOLD MINER ETF	57060U100	3,027	143,237	SH		SOLE		143,237	0	0
MERCK & CO INC NEW	COM	58933Y105	325	6,500	SH		SOLE		6,500	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	18,599	2,055,178	SH		SOLE		2,055,178	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	14,090	2,458,989	SH		SOLE		2,458,989	0	0
MFS INTER INCOME TR	SH BEN INT	55273C107	17,514	3,381,006	SH		SOLE		3,381,006	0	0
MFS INTERMARKET INCOME TRUST	SH BEN INT	59318R103	218	26,880	SH		SOLE		26,880	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	21,820	3,296,042	SH		SOLE		3,296,042	0	0
MICROSOFT CORP	COM	594918104	597	15,970	SH		SOLE		15,970	0	0
MORGAN STANLEY ASIA PAC FD	COM	61744U106	358	21,597	SH		SOLE		21,597	0	0
NEW GERMANY FD INC	COM	644465106	298	14,974	SH		SOLE		14,974	0	0
NEXPOINT CR STRATEGIES FD	COM	65340G106	5,802	615,882	SH		SOLE		615,882	0	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	9,296	955,356	SH		SOLE		955,356	0	0
NUVEEN DIVER CURRENCY OPPOR	COM	67090N109	230	22,790	SH		SOLE		22,790	0	0
NUVEEN EQTY PRM OPPORTUNITY	COM	6706EM102	1,532	121,117	SH		SOLE		121,117	0	0
NUVEEN EQUITY PREM & GROWTH	COM	6706EW100	2,830	200,443	SH		SOLE		200,443	0	0
NUVEEN EQUITY PREM ADV FD	COM	6706ET107	3,618	286,234	SH		SOLE		286,234	0	0
NUVEEN EQUITY PREM INCOME FD	COM	6706ER101	915	72,921	SH		SOLE		72,921	0	0
NUVEEN MUN VALUE FD INC	COM	670928100	3,930	434,714	SH		SOLE		434,714	0	0
NUVEEN NY MUN VALUE FD	COM	67062M105	571	65,201	SH		SOLE		65,201	0	0
OMNIAMERICAN BANCORP INC	COM	68216R107	454	21,250	SH		SOLE		21,250	0	0
PFIZER INC	COM	717081103	336	10,955	SH		SOLE		10,955	0	0
PIMCO ETF TR	TOTL RETN ETF	72201R775	1,102	10,517	SH		SOLE		10,517	0	0
POLONIA BACORP INC MD	COM	73158Q109	577	58,366	SH		SOLE		58,366	0	0
POWERSHARES ETF TRUST II	SENIOR LN PORT	73936Q769	208	8,341	SH		SOLE		8,341	0	0
PROCTER & GAMBLE CO	COM	742718109	244	3,000	SH		SOLE		3,000	0	0
PROSHARES TR	PSHS ULSHT SP500	74347B300	3,897	131,405	SH		SOLE		131,405	0	0
PUTNAM MASTER INTER INCOME	SH BEN INT	746909100	459	91,037	SH		SOLE		91,037	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	440	41,000	SH		SOLE		41,000	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	23,556	4,330,150	SH		SOLE		4,330,150	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	2,530	284,544	SH		SOLE		284,544	0	0
ROYCE VALUE TR INC	COM	780910105	36,042	2,251,199	SH		SOLE		2,251,199	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	338	8,900	SH		SOLE		8,900	0	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	311	8,714	SH		SOLE		8,714	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	232	2,000	SH		SOLE		2,000	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	325	7,690	SH		SOLE		7,690	0	0
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	218	3,000	SH		SOLE		3,000	0	0
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	25,468	1,459,057	SH		SOLE		1,459,057	0	0
TRI CONTL CORP	COM	895436103	36,250	1,814,309	SH		SOLE		1,814,309	0	0
UNUM GROUP	COM	91529Y106	202	5,750	SH		SOLE		5,750	0	0
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	8,094	101,113	SH		SOLE		101,113	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	34,182	356,360	SH		SOLE		356,360	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	9,274	103,575	SH		SOLE		103,575	0	0
VIRTUS TOTAL RETURN FD	COM	92829A103	502	127,783	SH		SOLE		127,783	0	0
WESTERN ASSET GLOBAL CP DEF OP FD	COM	95790C107	2,881	159,457	SH		SOLE		159,457	0	0
WESTERN ASSET INFL MGMT FD	COM	95766U107	12,695	749,835	SH		SOLE		749,835	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	7,378	421,100	SH		SOLE		421,100	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	257	5,061	SH		SOLE		5,061	0	0
ZWEIG FD	COM NEW	989834205	12,054	811,187	SH		SOLE		811,187	0	0
ZWEIG TOTAL RETURN FD INC	COM NEW	989837208	31,427	2,254,478	SH		SOLE		2,254,478	0	0