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
Estimated average burden
hours per response:		23.8

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
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	37,744	2,455,716	SH		SOLE		2,455,716	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	22,792	1,368,889	SH		SOLE		1,368,889	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	18,663	3,291,613	SH		SOLE		3,291,613	0	0
EATON VANCE SH TM DR DIVR IN	COM	27828V104	21,423	1,513,990	SH		SOLE		1,513,990	0	0
DIVERSIFIED REAL ASSET INC F	COM SHS	25533B108	28,685	1,653,996	SH		SOLE		1,653,996	0	0
ZWEIG TOTAL RETURN FD INC	COM NEW	989837208	33,160	2,366,868	SH		SOLE		2,366,868	0	0
BLACKSTONE GSO FLTING RTE FU	COM	09256U105	16,622	992,931	SH		SOLE		992,931	0	0
TCW STRATEGIC INCOME FUND IN	COM	872340104	16,595	3,078,941	SH		SOLE		3,078,941	0	0
BLACKROCK DEFINED OPPRTY CR	COM	09255Q105	6,547	512,285	SH		SOLE		512,285	0	0
BLACKROCK ENHANCED GOVT FD I	COM	09255K108	6,872	481,906	SH		SOLE		481,906	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	26,409	2,873,618	SH		SOLE		2,873,618	0	0
BLACKROCK CR ALLCTN INC TR	COM	092508100	63,823	4,939,843	SH		SOLE		4,939,843	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	22,248	3,422,810	SH		SOLE		3,422,810	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	31,277	5,957,497	SH		SOLE		5,957,497	0	0
EATON VANCE RISK MNGD DIV EQ	COM	27829G106	26,903	2,523,776	SH		SOLE		2,523,776	0	0
ZWEIG FD	COM NEW	989834205	11,688	756,013	SH		SOLE		756,013	0	0
MFS INTER INCOME TR	SH BEN INT	55273C107	18,510	3,872,485	SH		SOLE		3,872,485	0	0
TRI CONTL CORP	COM	895436103	41,157	1,922,312	SH		SOLE		1,922,312	0	0
BLACKSTONE GSO LNG SHRT CR I	COM SHS BN INT	09257D102	5,945	382,811	SH		SOLE		382,811	0	0
BLACKROCK ENHANCED EQT DIV T	COM	09251A104	38,861	4,785,804	SH		SOLE		4,785,804	0	0
MADISON STRTG SECTOR PREM FD	COM	558268108	1,749	147,385	SH		SOLE		147,385	0	0
ROYCE VALUE TR INC	COM	780910105	25,890	1,806,701	SH		SOLE		1,806,701	0	0
ELLSWORTH FUND LTD	COM	289074106	2,358	270,673	SH		SOLE		270,673	0	0
ALLIANCEBERNSTEIN INCOME FUN	COM	01881E101	33,003	4,418,074	SH		SOLE		4,418,074	0	0
BLACKROCK GLOBAL OPP EQTY TR	COM	092501105	16,080	1,224,671	SH		SOLE		1,224,671	0	0
POLONIA BACORP INC MD	COM	73158Q109	601	57,551	SH		SOLE		57,551	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	17,300	2,893,043	SH		SOLE		2,893,043	0	0
ISHARES TR	S&P 100 ETF	464287101	74,971	824,404	SH		SOLE		824,404	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	979	127,587	SH		SOLE		127,587	0	0
WESTERN ASSET GLOBAL CP DEFI	COM	95790C107	3,135	176,308	SH		SOLE		176,308	0	0
NUVEEN S&P 500 DYN OVERWRITE	COM	6706EW100	2,565	179,401	SH		SOLE		179,401	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	911	113,356	SH		SOLE		113,356	0	0
EATON VANCE LTD DUR INCOME F	COM	27828H105	17,564	1,243,916	SH		SOLE		1,243,916	0	0
APOLLO TACTICAL INCOME FD IN	COM	037638103	2,358	147,751	SH		SOLE		147,751	0	0
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	5,626	326,158	SH		SOLE		326,158	0	0
FIRST TR SR FLG RTE INCM FD	COM	33733U108	3,145	241,750	SH		SOLE		241,750	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	14,119	1,263,972	SH		SOLE		1,263,972	0	0
BLACKROCK LTD DURATION INC T	COM SHS	09249W101	4,340	276,078	SH		SOLE		276,078	0	0
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	4,807	286,635	SH		SOLE		286,635	0	0
ALLIANZGI EQUITY & CONV INCO	COM	018829101	4,067	196,669	SH		SOLE		196,669	0	0
SARATOGA INVT CORP	COM NEW	80349A208	531	35,763	SH		SOLE		35,763	0	0
NUVEEN FLTNG RTE INCM OPP FD	COM SHS	6706EN100	2,521	223,682	SH		SOLE		223,682	0	0
FIRST TR INTER DUR PFD & IN	COM	33718W103	6,370	280,483	SH		SOLE		280,483	0	0
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	964	154,477	SH		SOLE		154,477	0	0
WHITEHORSE FIN INC	COM	96524V106	679	58,819	SH		SOLE		58,819	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	753	54,852	SH		SOLE		54,852	0	0
BLACKROCK FLOAT RATE OME STR	COM	09255X100	1,667	124,503	SH		SOLE		124,503	0	0
EATON VANCE FLTG RATE INCOM	COM SHS BEN INT	278284104	406	25,161	SH		SOLE		25,161	0	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	3,125	356,299	SH		SOLE		356,299	0	0
NUVEEN NY MUN VALUE FD	COM	67062M105	332	33,931	SH		SOLE		33,931	0	0
PROSHARES TR	PSHS ULSHT SP500	74347B300	2,186	99,141	SH		SOLE		99,141	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	679	59,153	SH		SOLE		59,153	0	0
MFS INTERMARKET INCOME TRUST	SH BEN INT	59318R103	180	21,637	SH		SOLE		21,637	0	0
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	1,303	101,651	SH		SOLE		101,651	0	0
FRANKLIN LTD DURATION INC TR	COM	35472T101	622	50,991	SH		SOLE		50,991	0	0
INTERVEST BANCSHARES CORP	COM	460927106	395	39,264	SH		SOLE		39,264	0	0
CUTWATER SELECT INCOME FD	COM	232229104	369	19,057	SH		SOLE		19,057	0	0
BLACKROCK INCOME TR INC	COM	09247F100	688	107,455	SH		SOLE		107,455	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	10,198	97,606	SH		SOLE		97,606	0	0
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	438	91,037	SH		SOLE		91,037	0	0
MARKET VECTORS ETF TR	JR GOLD MINERS E	57061R544	2,201	91,970	SH		SOLE		91,970	0	0
EATON VANCE ENHANCED EQ INC	COM	278274105	739	53,560	SH		SOLE		53,560	0	0
GDL FUND	COM SH BEN IT	361570104	281	27,485	SH		SOLE		27,485	0	0
FLAHERTY & CRUMRINE DYN PFD	SHS	33848W106	483	21,716	SH		SOLE		21,716	0	0
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	28,316	343,762	SH		SOLE		343,762	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	492	41,000	SH		SOLE		41,000	0	0
VIRTUS TOTAL RETURN FD	COM	92829A103	122	26,985	SH		SOLE		26,985	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	582	110,890	SH		SOLE		110,890	0	0
NEW GERMANY FD INC	COM	644465106	181	12,919	SH		SOLE		12,919	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	9,346	118,064	SH		SOLE		118,064	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	793	65,476	SH		SOLE		65,476	0	0
PENNANTPARK INVT CORP	COM	708062104	434	45,491	SH		SOLE		45,491	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	30,482	287,562	SH		SOLE		287,562	0	0
NUVEEN MUN VALUE FD INC	COM	670928100	1,096	113,610	SH		SOLE		113,610	0	0
NEW MTN FIN CORP	COM	647551100	470	31,457	SH		SOLE		31,457	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	331	11,447	SH		SOLE		11,447	0	0
NEXPOINT CR STRATEGIES FD	COM	65340G106	285	25,399	SH		SOLE		25,399	0	0
BLACKSTONE GSO STRATEGIC CR	COM SHS BEN IN	09257R101	280	16,960	SH		SOLE		16,960	0	0
APOLLO COML REAL EST FIN INC	COM	03762U105	259	15,833	SH		SOLE		15,833	0	0
BLACKSTONE MTG TR INC	COM CL A	09257W100	557	19,122	SH		SOLE		19,122	0	0
HATTERAS FINL CORP	COM	41902R103	538	29,180	SH		SOLE		29,180	0	0
GOLUB CAP BDC INC	COM	38173M102	185	10,335	SH		SOLE		10,335	0	0
TCP CAP CORP	COM	87238Q103	174	10,385	SH		SOLE		10,385	0	0
TWO HBRS INVT CORP	COM	90187B101	760	75,820	SH		SOLE		75,820	0	0
BLACKROCK RES & COMM STRAT T	SHS	09257A108	199	20,470	SH		SOLE		20,470	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	313	19,540	SH		SOLE		19,540	0	0
FS INVT CORP	COM	302635107	461	46,440	SH		SOLE		46,440	0	0
ARES CAP CORP	COM	04010L103	816	52,284	SH		SOLE		52,284	0	0
TALMER BANCORP INC	COM	87482X101	158	11,268	SH		SOLE		11,268	0	0
INVESCO MORTGAGE CAPITAL INC	COM	46131B100	303	19,586	SH		SOLE		19,586	0	0
ALPINE TOTAL DYNAMIC DIVID F	COM SH BEN INT N	021060207	144	16,972	SH		SOLE		16,972	0	0
COLONY FINL INC	COM	19624R106	398	16,715	SH		SOLE		16,715	0	0
MFA FINL INC	COM	55272X102	437	54,681	SH		SOLE		54,681	0	0
BLACKROCK INTL GRWTH & INC T	COM BENE INTER	092524107	90	13,358	SH		SOLE		13,358	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	343	9,293	SH		SOLE		9,293	0	0
ISHARES TR	20+ YR TR BD ETF	464287432	450	3,574	SH		SOLE		3,574	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	420	8,900	SH		SOLE		8,900	0	0
ISHARES	JP MOR EM MK ETF	464288281	211	1,928	SH		SOLE		1,928	0	0
LOEWS CORP	COM	540424108	739	17,590	SH		SOLE		17,590	0	0
ISHARES TR	1-3 YR TR BD ETF	464287457	364	4,314	SH		SOLE		4,314	0	0
RYDEX ETF TRUST	GUG S&P500 EQ WT	78355W106	441	5,506	SH		SOLE		5,506	0	0
SPDR SERIES TRUST	BRC HGH YLD BD	78464A417	338	8,766	SH		SOLE		8,766	0	0
UNUM GROUP	COM	91529Y106	201	5,750	SH		SOLE		5,750	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	208	11,892	SH		SOLE		11,892	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	591	7,302	SH		SOLE		7,302	0	0
L BRANDS INC	COM	501797104	300	3,465	SH		SOLE		3,465	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	219	1,838	SH		SOLE		1,838	0	0
ISHARES	MSCI JAPAN ETF	464286848	142	12,665	SH		SOLE		12,665	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	227	2,000	SH		SOLE		2,000	0	0
ISHARES TR	MSCI EAFE ETF	464287465	412	6,780	SH		SOLE		6,780	0	0
INTEL CORP	COM	458140100	753	20,743	SH		SOLE		20,743	0	0
CHEVRON CORP NEW	COM	166764100	579	5,160	SH		SOLE		5,160	0	0
CITIGROUP INC	COM NEW	172967424	433	8,003	SH		SOLE		8,003	0	0
UNION PAC CORP	COM	907818108	260	2,180	SH		SOLE		2,180	0	0
CONOCOPHILLIPS	COM	20825C104	200	2,900	SH		SOLE		2,900	0	0
MERCK & CO INC NEW	COM	58933Y105	369	6,500	SH		SOLE		6,500	0	0
PFIZER INC	COM	717081103	404	12,956	SH		SOLE		12,956	0	0
JOHNSON & JOHNSON	COM	478160104	535	5,120	SH		SOLE		5,120	0	0
BANK AMER CORP	COM	060505104	326	18,226	SH		SOLE		18,226	0	0
CISCO SYS INC	COM	17275R102	245	8,800	SH		SOLE		8,800	0	0
MICROSOFT CORP	COM	594918104	649	13,970	SH		SOLE		13,970	0	0
JPMORGAN CHASE & CO	COM	46625H100	313	5,000	SH		SOLE		5,000	0	0
GENERAL ELECTRIC CO	COM	369604103	317	12,559	SH		SOLE		12,559	0	0
PROCTER & GAMBLE CO	COM	742718109	273	3,000	SH		SOLE		3,000	0	0
EXXON MOBIL CORP	COM	30231G102	256	2,772	SH		SOLE		2,772	0	0
MARKIT LTD	SHS	G58249106	662	25,060	SH		SOLE		25,060	0	0