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 | 7,039 | 1,152,098 | SH | | SOLE | | 1,152,098 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 1,348 | 139,444 | SH | | SOLE | | 139,444 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 6,605 | 699,638 | SH | | SOLE | | 699,638 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 7,261 | 398,285 | SH | | SOLE | | 398,285 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 9,627 | 346,533 | SH | | SOLE | | 346,533 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 9,146 | 732,830 | SH | | SOLE | | 732,830 | 0 | 0 |
ADAMS EXPRESS CO | COM | 006212104 | 10,242 | 789,095 | SH | | SOLE | | 789,095 | 0 | 0 |
ALLIANCEBERNSTEIN INCOME FUN | COM | 01881E101 | 32,348 | 4,407,112 | SH | | SOLE | | 4,407,112 | 0 | 0 |
ALLIANZGI EQUITY & CONV INCO | COM | 018829101 | 597 | 30,700 | SH | | SOLE | | 30,700 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 400 | 39,946 | SH | | SOLE | | 39,946 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 31,842 | 3,795,215 | SH | | SOLE | | 3,795,215 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 2,479 | 240,026 | SH | | SOLE | | 240,026 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 910 | 79,853 | SH | | SOLE | | 79,853 | 0 | 0 |
BANCROFT FUND LTD | COM | 059695106 | 2,249 | 115,022 | SH | | SOLE | | 115,022 | 0 | 0 |
BLACKROCK BUILD AMER BD TR | SHS | 09248X100 | 931 | 46,000 | SH | | SOLE | | 46,000 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 18,259 | 1,350,484 | SH | | SOLE | | 1,350,484 | 0 | 0 |
BLACKROCK ECOSOLUTIONS INVT | COM SH | 092546100 | 3,736 | 464,084 | SH | | SOLE | | 464,084 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 5,166 | 650,645 | SH | | SOLE | | 650,645 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 9,685 | 689,298 | SH | | SOLE | | 689,298 | 0 | 0 |
BLACKROCK GLOBAL OPP EQTY TR | COM | 092501105 | 32,329 | 2,209,753 | SH | | SOLE | | 2,209,753 | 0 | 0 |
BLACKROCK INCOME OPP TRUST I | COM | 092475102 | 11,809 | 1,143,163 | SH | | SOLE | | 1,143,163 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 14,309 | 2,194,649 | SH | | SOLE | | 2,194,649 | 0 | 0 |
BLACKROCK INTL GRWTH & INC T | COM BENE INTER | 092524107 | 18,120 | 2,248,142 | SH | | SOLE | | 2,248,142 | 0 | 0 |
BLACKROCK REAL ASSET EQUITY | COM | 09254B109 | 13,965 | 1,569,056 | SH | | SOLE | | 1,569,056 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 31,985 | 2,781,292 | SH | | SOLE | | 2,781,292 | 0 | 0 |
BLACKROCK UTIL & INFRASTRCTU | COM | 09248D104 | 5,437 | 286,740 | SH | | SOLE | | 286,740 | 0 | 0 |
BROOKFIELD GLOBL LISTED INFR | COM SHS | 11273Q109 | 3,552 | 166,139 | SH | | SOLE | | 166,139 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 2,669 | 319,698 | SH | | SOLE | | 319,698 | 0 | 0 |
CENTRAL EUR RUSS & TURK FD I | COM | 153436100 | 7,975 | 303,577 | SH | | SOLE | | 303,577 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 2,871 | 128,332 | SH | | SOLE | | 128,332 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 3,373 | 169,444 | SH | | SOLE | | 169,444 | 0 | 0 |
CLOUGH GLOBAL ALLOCATION FD | COM | 18913Y103 | 1,530 | 100,760 | SH | | SOLE | | 100,760 | 0 | 0 |
CLOUGH GLOBAL EQUITY FD | COM | 18914C100 | 12,481 | 809,378 | SH | | SOLE | | 809,378 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 9,484 | 744,061 | SH | | SOLE | | 744,061 | 0 | 0 |
COHEN & STEERS INFRASTRUCTUR | COM | 19248A109 | 15,901 | 720,159 | SH | | SOLE | | 720,159 | 0 | 0 |
CUTWATER SELECT INCOME FD | COM | 232229104 | 7,981 | 410,967 | SH | | SOLE | | 410,967 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 722 | 36,489 | SH | | SOLE | | 36,489 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 621 | 60,089 | SH | | SOLE | | 60,089 | 0 | 0 |
DWS GLOBAL HIGH INCOME FD | COM | 23338W104 | 981 | 120,646 | SH | | SOLE | | 120,646 | 0 | 0 |
EATON VANCE RISK MNGD DIV EQ | COM | 27829G106 | 3,569 | 315,861 | SH | | SOLE | | 315,861 | 0 | 0 |
EATON VANCE TAX MNGD GBL DV | COM | 27829F108 | 21,546 | 2,133,301 | SH | | SOLE | | 2,133,301 | 0 | 0 |
EATON VANCE TX MGD DIV EQ IN | COM | 27828N102 | 4,415 | 396,000 | SH | | SOLE | | 396,000 | 0 | 0 |
EATON VANCE TXMGD GL BUYWR O | COM | 27829C105 | 921 | 76,112 | SH | | SOLE | | 76,112 | 0 | 0 |
ELLSWORTH FUND LTD | COM | 289074106 | 2,681 | 311,737 | SH | | SOLE | | 311,737 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 10,752 | 1,186,701 | SH | | SOLE | | 1,186,701 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 1,613 | 89,491 | SH | | SOLE | | 89,491 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 7,400 | 470,123 | SH | | SOLE | | 470,123 | 0 | 0 |
FORT DEARBORN INCOME SECS IN | COM | 347200107 | 8,245 | 572,138 | SH | | SOLE | | 572,138 | 0 | 0 |
GABELLI DIVD & INCOME TR | COM | 36242H104 | 4,159 | 189,324 | SH | | SOLE | | 189,324 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 183 | 9,200 | SH | | SOLE | | 9,200 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 1,288 | 116,758 | SH | | SOLE | | 116,758 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 9,515 | 270,088 | SH | | SOLE | | 270,088 | 0 | 0 |
GUGGENHEIM EQ WEIGHT ENHANC | COM SH BEN INT | 40167M106 | 680 | 36,115 | SH | | SOLE | | 36,115 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 13,420 | 582,448 | SH | | SOLE | | 582,448 | 0 | 0 |
ING EMERGING MKTS HGH DIV EQ | COM | 45685X104 | 435 | 36,367 | SH | | SOLE | | 36,367 | 0 | 0 |
INVESCO BD FD | COM | 46132L107 | 4,718 | 259,504 | SH | | SOLE | | 259,504 | 0 | 0 |
ISHARES | MSCI AUST ETF | 464286103 | 63,530 | 2,455,746 | SH | | SOLE | | 2,455,746 | 0 | 0 |
ISHARES | MSCI CDA ETF | 464286509 | 2,609 | 88,300 | SH | | SOLE | | 88,300 | 0 | 0 |
ISHARES | MSCI EAFE ETF | 464287465 | 15,452 | 229,940 | SH | | SOLE | | 229,940 | 0 | 0 |
ISHARES | MSCI FRANCE ETF | 464286707 | 43,464 | 1,488,500 | SH | | SOLE | | 1,488,500 | 0 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 22,409 | 714,800 | SH | | SOLE | | 714,800 | 0 | 0 |
ISHARES | MSCI JAPAN ETF | 464286848 | 108,930 | 9,614,332 | SH | | SOLE | | 9,614,332 | 0 | 0 |
ISHARES | MSCI UK ETF | 464286699 | 32,958 | 1,600,677 | SH | | SOLE | | 1,600,677 | 0 | 0 |
JAPAN EQUITY FD INC | COM | 471057109 | 14,720 | 2,255,448 | SH | | SOLE | | 2,255,448 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 21,339 | 2,435,933 | SH | | SOLE | | 2,435,933 | 0 | 0 |
JPMORGAN CHINA REGION FD INC | COM | 48126T104 | 2,426 | 170,394 | SH | | SOLE | | 170,394 | 0 | 0 |
KOREA EQUITY FD INC | COM | 50063B104 | 3,819 | 464,029 | SH | | SOLE | | 464,029 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 19,601 | 488,670 | SH | | SOLE | | 488,670 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 2,477 | 192,162 | SH | | SOLE | | 192,162 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 20,722 | 1,190,263 | SH | | SOLE | | 1,190,263 | 0 | 0 |
LEGG MASON BW GLB INC OPP FD | COM | 52469B100 | 6,731 | 383,340 | SH | | SOLE | | 383,340 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 7,862 | 1,337,130 | SH | | SOLE | | 1,337,130 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 2,506 | 106,637 | SH | | SOLE | | 106,637 | 0 | 0 |
MADISON STRTG SECTOR PREM FD | COM | 558268108 | 1,093 | 89,725 | SH | | SOLE | | 89,725 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 4,217 | 290,639 | SH | | SOLE | | 290,639 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 4,161 | 455,762 | SH | | SOLE | | 455,762 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 2,269 | 398,108 | SH | | SOLE | | 398,108 | 0 | 0 |
MFS INTERMARKET INCOME TRUST | SH BEN INT | 59318R103 | 5,475 | 658,012 | SH | | SOLE | | 658,012 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 3,784 | 579,421 | SH | | SOLE | | 579,421 | 0 | 0 |
MONTGOMERY STR INCOME SECS I | COM | 614115103 | 24,980 | 1,552,537 | SH | | SOLE | | 1,552,537 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 42,182 | 2,498,933 | SH | | SOLE | | 2,498,933 | 0 | 0 |
MORGAN STANLEY EASTN EUR FD | COM | 616988101 | 3,092 | 171,802 | SH | | SOLE | | 171,802 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 1,250 | 126,225 | SH | | SOLE | | 126,225 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 8,296 | 544,005 | SH | | SOLE | | 544,005 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 11,856 | 675,942 | SH | | SOLE | | 675,942 | 0 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 3,490 | 739,498 | SH | | SOLE | | 739,498 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 33,890 | 1,741,536 | SH | | SOLE | | 1,741,536 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 4,840 | 336,840 | SH | | SOLE | | 336,840 | 0 | 0 |
NUVEEN BUILD AMER BD OPPTNY | COM | 67074Q102 | 4,792 | 233,755 | SH | | SOLE | | 233,755 | 0 | 0 |
NUVEEN DIVER CURRENCY OPPOR | COM | 67090N109 | 7,918 | 754,847 | SH | | SOLE | | 754,847 | 0 | 0 |
NUVEEN GBL INCOME OPPORTUN F | COM | 67073C104 | 1,729 | 149,461 | SH | | SOLE | | 149,461 | 0 | 0 |
NUVEEN GLOBAL EQUITY INCOME | COM | 6706EH103 | 1,688 | 128,851 | SH | | SOLE | | 128,851 | 0 | 0 |
PETROLEUM & RES CORP | COM | 716549100 | 5,294 | 189,611 | SH | | SOLE | | 189,611 | 0 | 0 |
PUTNAM MASTER INTER INCOME T | SH BEN INT | 746909100 | 9,242 | 1,794,523 | SH | | SOLE | | 1,794,523 | 0 | 0 |
PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 | 18,778 | 3,395,733 | SH | | SOLE | | 3,395,733 | 0 | 0 |
ROYCE FOCUS TR | COM | 78080N108 | 771 | 96,911 | SH | | SOLE | | 96,911 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 1,257 | 102,711 | SH | | SOLE | | 102,711 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 2,122 | 134,891 | SH | | SOLE | | 134,891 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 47,018 | 3,269,651 | SH | | SOLE | | 3,269,651 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 5,141 | 272,274 | SH | | SOLE | | 272,274 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 15,715 | 641,696 | SH | | SOLE | | 641,696 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 2,314 | 136,280 | SH | | SOLE | | 136,280 | 0 | 0 |
TEMPLETON RUS AND EAST EUR F | COM | 88022F105 | 1,497 | 113,764 | SH | | SOLE | | 113,764 | 0 | 0 |
THAI FD INC | COM | 882904105 | 7,550 | 697,136 | SH | | SOLE | | 697,136 | 0 | 0 |
TORTOISE ENERGY INDEPENDENC | COM | 89148K101 | 355 | 14,315 | SH | | SOLE | | 14,315 | 0 | 0 |
TRANSAMERICA INCOME SHS INC | COM | 893506105 | 12,904 | 620,423 | SH | | SOLE | | 620,423 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 14,092 | 701,814 | SH | | SOLE | | 701,814 | 0 | 0 |
VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | 53,674 | 910,500 | SH | | SOLE | | 910,500 | 0 | 0 |
VIRTUS GLOBAL MULTI-SEC INC | COM | 92829B101 | 2,320 | 137,296 | SH | | SOLE | | 137,296 | 0 | 0 |
WELLS FARGO ADV GLB DIV OPP | COM | 94987C103 | 679 | 86,306 | SH | | SOLE | | 86,306 | 0 | 0 |
WELLS FARGO ADVANTAGE MULTI | COM SHS | 94987D101 | 3,764 | 259,592 | SH | | SOLE | | 259,592 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 28,732 | 2,470,482 | SH | | SOLE | | 2,470,482 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 16,760 | 1,434,894 | SH | | SOLE | | 1,434,894 | 0 | 0 |
WESTERN ASSET EMRG MKT INCM | COM | 95766E103 | 1,175 | 95,200 | SH | | SOLE | | 95,200 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 10,702 | 588,338 | SH | | SOLE | | 588,338 | 0 | 0 |
WESTERN ASSET INCOME FD | COM | 95766T100 | 9,352 | 704,776 | SH | | SOLE | | 704,776 | 0 | 0 |
ZWEIG FD | COM NEW | 989834205 | 4,575 | 301,199 | SH | | SOLE | | 301,199 | 0 | 0 |
ZWEIG TOTAL RETURN FD INC | COM NEW | 989837208 | 1,732 | 123,195 | SH | | SOLE | | 123,195 | 0 | 0 |