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 INCOME FD	COM	003009107	73	11,924	SH		SOLE		11,924	0	0
ALEXCO RESOURCE CORP	COM	01535P106	23	15,500	SH		SOLE		15,500	0	0
ALLIANCEBERNSTEIN INCOME FD	COM	01881E101	30,764	4,191,221	SH		SOLE		4,191,221	0	0
ALLIANZGI EQUITY & CONV INCOME	COM	018829101	4,571	235,005	SH		SOLE		235,005	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	360	19,540	SH		SOLE		19,540	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	210	11,892	SH		SOLE		11,892	0	0
AMERICAN STRATEGIC INC III	COM	03009T101	306	43,000	SH		SOLE		43,000	0	0
ANWORTH MORTGAGE ASSET CORP	COM	037347101	81	16,419	SH		SOLE		16,419	0	0
APOLLO TACTICAL INCOME FD INC	COM	037638103	2,700	151,328	SH		SOLE		151,328	0	0
BANK OF AMERICA CORP	COM	060505104	313	18,226	SH		SOLE		18,226	0	0
BLACKROCK CREDIT ALLOC INC TR	COM	092508100	61,375	4,539,563	SH		SOLE		4,539,563	0	0
BLACKROCK ENH CAP & INC FD	COM	09256A109	3,184	227,785	SH		SOLE		227,785	0	0
BLACKROCK ENHANCED EQT DIV TR	COM	09251A104	32,379	4,077,956	SH		SOLE		4,077,956	0	0
BLACKROCK ENHANCED GOVT FD	COM	09255K108	2,185	155,543	SH		SOLE		155,543	0	0
BLACKROCK GLOBAL OPP EQTY TR	COM	092501105	18,757	1,282,123	SH		SOLE		1,282,123	0	0
BLACKROCK INTL GRWTH & INC TR	COM BENE INTER	092524107	524	65,074	SH		SOLE		65,074	0	0
BLACKROCK MULTI-SECTOR INC	COM	09258A107	5,153	290,331	SH		SOLE		290,331	0	0
BLACKROCK RES & COMM STRAT TR	SHS	09257A108	230	20,038	SH		SOLE		20,038	0	0
CHEVRON CORP NEW	COM	166764100	595	5,000	SH		SOLE		5,000	0	0
CISCO SYSTEMS INC	COM	17275R102	242	10,800	SH		SOLE		10,800	0	0
CITIGROUP INC	COM NEW	172967424	381	8,000	SH		SOLE		8,000	0	0
CLOUGH GLOBAL OPPS FD	SH BEN INT	18914E106	1,570	123,198	SH		SOLE		123,198	0	0
CONOCOPHILLIPS	COM	20825C104	204	2,900	SH		SOLE		2,900	0	0
CYS INVTS INC	COM	12673A108	91	11,035	SH		SOLE		11,035	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	3,141	148,014	SH		SOLE		148,014	0	0
EATON VANCE ENHANCED EQ INC	COM	278274105	1,965	150,336	SH		SOLE		150,336	0	0
EATON VANCE LTD DUR INCOME FD	COM	27828H105	14,587	956,556	SH		SOLE		956,556	0	0
EATON VANCE RISK MNGD DIV EQ	COM	27829G106	34,432	3,047,101	SH		SOLE		3,047,101	0	0
EATON VANCE SH TM DR DIVR	COM	27828V104	9,203	605,844	SH		SOLE		605,844	0	0
EATON VANCE TAX MNGD GBL DV	COM	27829F108	6,521	645,692	SH		SOLE		645,692	0	0
EATON VANCE TX MGD DIV EQ	COM	27828N102	36,659	3,287,835	SH		SOLE		3,287,835	0	0
EATON VANCE TXMGD GL BUYWR OP	COM	27829C105	186	15,410	SH		SOLE		15,410	0	0
ELLSWORTH FD	COM	289074106	2,523	293,392	SH		SOLE		293,392	0	0
FIRST TR INTER DUR PFD & INCM FD	COM	33718W103	5,453	246,284	SH		SOLE		246,284	0	0
FLAHERTY & CRUMRINE DYN PFD	SHS	33848W106	3,428	157,845	SH		SOLE		157,845	0	0
GDL FUND	COM SH BEN IT	361570104	303	27,485	SH		SOLE		27,485	0	0
GENERAL ELECTRIC CO	COM	369604103	299	11,559	SH		SOLE		11,559	0	0
GENERAL MTRS CO	W EXP 07/10/2016	37045V118	235	9,450	SH		SOLE		9,450	0	0
INTEL CORP	COM	458140100	587	22,731	SH		SOLE		22,731	0	0
INTERVEST BANCSHARES CORP	COM	460927106	180	24,227	SH		SOLE		24,227	0	0
ISHARES	S&P 100 ETF	464287101	59,426	717,621	SH		SOLE		717,621	0	0
ISHARES	MSCI JAPAN ETF	464286848	127	11,225	SH		SOLE		11,225	0	0
ISHARES	MSCI EMG MKT ETF	464287234	438	10,673	SH		SOLE		10,673	0	0
ISHARES	MSCI EAFE ETF	464287465	508	7,558	SH		SOLE		7,558	0	0
ISHARES	SHRT TRS BD ETF	464288679	245	2,220	SH		SOLE		2,220	0	0
JOHNSON & JOHNSON	COM	478160104	503	5,120	SH		SOLE		5,120	0	0
JPMORGAN CHASE & CO	COM	46625H100	349	5,750	SH		SOLE		5,750	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	17,674	3,005,715	SH		SOLE		3,005,715	0	0
LOEWS CORP	COM	540424108	758	17,200	SH		SOLE		17,200	0	0
MACQUARIE GLBL INFRA TOTL RET	COM	55608D101	1,218	51,815	SH		SOLE		51,815	0	0
MARKET VECTORS ETF TR	GOLD MINER ETF	57060U100	3,360	142,334	SH		SOLE		142,334	0	0
MERCK & CO. INC.	COM	58933Y105	369	6,500	SH		SOLE		6,500	0	0
MFS CHARTER INCOME	SH BEN INT	552727109	19,222	2,105,317	SH		SOLE		2,105,317	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	16,524	2,898,863	SH		SOLE		2,898,863	0	0
MFS INTER INCOME TR	SH BEN INT	55273C107	18,104	3,494,914	SH		SOLE		3,494,914	0	0
MFS INTERMARKET INCOME TRUST	SH BEN INT	59318R103	218	26,224	SH		SOLE		26,224	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	21,321	3,265,150	SH		SOLE		3,265,150	0	0
MICROSOFT CORP	COM	594918104	573	13,970	SH		SOLE		13,970	0	0
NEW GERMANY FUND	COM	644465106	255	13,103	SH		SOLE		13,103	0	0
NEXPOINT CR STRATEGIES FD	COM	65340G106	2,502	225,995	SH		SOLE		225,995	0	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	4,607	484,455	SH		SOLE		484,455	0	0
NUVEEN DIVER CURRENCY OPPOR	COM	67090N109	226	21,584	SH		SOLE		21,584	0	0
NUVEEN EQTY PRM OPPORTUNITY	COM	6706EM102	470	37,350	SH		SOLE		37,350	0	0
NUVEEN EQUITY PREM & GROWTH	COM	6706EW100	2,746	193,811	SH		SOLE		193,811	0	0
NUVEEN EQUITY PREM ADV FD	COM	6706ET107	3,533	278,441	SH		SOLE		278,441	0	0
NUVEEN EQUITY PREM INCOME FD	COM	6706ER101	876	69,294	SH		SOLE		69,294	0	0
NUVEEN MUN VALUE FD	COM	670928100	2,423	256,357	SH		SOLE		256,357	0	0
NUVEEN NY MUN VALUE FD	COM	67062M105	615	65,201	SH		SOLE		65,201	0	0
OMNIAMERICAN BANCORP INC	COM	68216R107	484	21,250	SH		SOLE		21,250	0	0
PFIZER INC	COM	717081103	400	12,455	SH		SOLE		12,455	0	0
PIMCO ETF TR	TOTL RETN ETF	72201R775	959	8,992	SH		SOLE		8,992	0	0
POLONIA BACORP INC MD	COM	73158Q109	569	58,366	SH		SOLE		58,366	0	0
POWERSHARES ETF TRUST II	SENIOR LN PORT	73936Q769	104	4,175	SH		SOLE		4,175	0	0
PROCTER & GAMBLE CO/THE	COM	742718109	242	3,000	SH		SOLE		3,000	0	0
PROSHARES TR	PSHS ULSHT SP500	74347B300	3,934	138,767	SH		SOLE		138,767	0	0
PUTNAM MASTER INTER INCOME TR	SH BEN INT	746909100	469	91,037	SH		SOLE		91,037	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	466	41,000	SH		SOLE		41,000	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	24,919	4,506,213	SH		SOLE		4,506,213	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	1,844	205,337	SH		SOLE		205,337	0	0
ROYCE VALUE TR INC	COM	780910105	35,733	2,271,666	SH		SOLE		2,271,666	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	369	8,900	SH		SOLE		8,900	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	531	4,292	SH		SOLE		4,292	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	293	6,875	SH		SOLE		6,875	0	0
SPDR SERIES TRUST	BRC HGH YLD BD	78464A417	283	6,859	SH		SOLE		6,859	0	0
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	221	3,000	SH		SOLE		3,000	0	0
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	36,456	2,243,466	SH		SOLE		2,243,466	0	0
TCW STRATEGIC INCOME FUND INC	COM	872340104	2,919	534,526	SH		SOLE		534,526	0	0
TALMER BANCORP INC	COM	87482X101	165	11,268	SH		SOLE		11,268	0	0
TRI CONTL CORP	COM	895436103	36,329	1,809,232	SH		SOLE		1,809,232	0	0
UNION PACIFIC CORP	COM	907818108	205	1,090	SH		SOLE		1,090	0	0
UNUM GROUP	COM	91529Y106	203	5,750	SH		SOLE		5,750	0	0
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	19,894	245,025	SH		SOLE		245,025	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	386	3,419	SH		SOLE		3,419	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	38,342	393,372	SH		SOLE		393,372	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	9,737	106,379	SH		SOLE		106,379	0	0
VIRTUS TOTAL RETURN FD	COM	92829A103	468	105,841	SH		SOLE		105,841	0	0
WESTERN ASSET GLOBAL CP DEFI	COM	95790C107	3,165	173,985	SH		SOLE		173,985	0	0
WESTERN ASSET INFL MGMT FD	COM	95766U107	12,331	690,434	SH		SOLE		690,434	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	7,919	463,103	SH		SOLE		463,103	0	0
ZWEIG FUND INC	COM NEW	989834205	12,041	792,686	SH		SOLE		792,686	0	0
ZWEIG TOTAL RETURN FD INC	COM NEW	989837208	31,817	2,262,953	SH		SOLE		2,262,953	0	0