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 | 9,732 | 1,549,608 | SH | | SOLE | | 1,549,608 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 1,455 | 139,244 | SH | | SOLE | | 139,244 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 6,619 | 698,238 | SH | | SOLE | | 698,238 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 7,093 | 396,710 | SH | | SOLE | | 396,710 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 15,811 | 2,223,742 | SH | | SOLE | | 2,223,742 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 10,369 | 346,933 | SH | | SOLE | | 346,933 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 9,595 | 734,656 | SH | | SOLE | | 734,656 | 0 | 0 |
ADAMS EXPRESS CO | COM | 006212104 | 10,619 | 772,295 | SH | | SOLE | | 772,295 | 0 | 0 |
ALLIANCEBERNSTEIN INCOME FUN | COM | 01881E101 | 58,362 | 7,760,871 | SH | | SOLE | | 7,760,871 | 0 | 0 |
ALLIANZGI EQUITY & CONV INCO | COM | 018829101 | 1,570 | 77,700 | SH | | SOLE | | 77,700 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 761 | 72,446 | SH | | SOLE | | 72,446 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 34,317 | 3,847,168 | SH | | SOLE | | 3,847,168 | 0 | 0 |
AMERICAN INCOME FD INC | COM | 02672T109 | 789 | 101,508 | SH | | SOLE | | 101,508 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 2,670 | 241,596 | SH | | SOLE | | 241,596 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 969 | 80,253 | SH | | SOLE | | 80,253 | 0 | 0 |
BANCROFT FUND LTD | COM | 059695106 | 2,321 | 115,022 | SH | | SOLE | | 115,022 | 0 | 0 |
BLACKROCK BUILD AMER BD TR | SHS | 09248X100 | 1,160 | 53,449 | SH | | SOLE | | 53,449 | 0 | 0 |
BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | 1,136 | 81,346 | SH | | SOLE | | 81,346 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 18,744 | 1,363,173 | SH | | SOLE | | 1,363,173 | 0 | 0 |
BLACKROCK ECOSOLUTIONS INVT | COM SH | 092546100 | 5,805 | 702,816 | SH | | SOLE | | 702,816 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 5,985 | 713,304 | SH | | SOLE | | 713,304 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 12,753 | 892,443 | SH | | SOLE | | 892,443 | 0 | 0 |
BLACKROCK GLOBAL OPP EQTY TR | COM | 092501105 | 33,180 | 2,204,641 | SH | | SOLE | | 2,204,641 | 0 | 0 |
BLACKROCK INCOME OPP TRUST I | COM | 092475102 | 15,369 | 1,415,148 | SH | | SOLE | | 1,415,148 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 19,531 | 2,941,348 | SH | | SOLE | | 2,941,348 | 0 | 0 |
BLACKROCK INTL GRWTH & INC T | COM BENE INTER | 092524107 | 18,506 | 2,245,842 | SH | | SOLE | | 2,245,842 | 0 | 0 |
BLACKROCK REAL ASSET EQUITY | COM | 09254B109 | 14,868 | 1,583,423 | SH | | SOLE | | 1,583,423 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 34,765 | 2,801,331 | SH | | SOLE | | 2,801,331 | 0 | 0 |
BLACKROCK UTIL & INFRASTRCTU | COM | 09248D104 | 5,886 | 281,108 | SH | | SOLE | | 281,108 | 0 | 0 |
BROOKFIELD GLOBL LISTED INFR | COM SHS | 11273Q109 | 4,884 | 194,905 | SH | | SOLE | | 194,905 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 4,580 | 502,724 | SH | | SOLE | | 502,724 | 0 | 0 |
CENTRAL EUR RUSS & TURK FD I | COM | 153436100 | 8,748 | 298,680 | SH | | SOLE | | 298,680 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 2,941 | 125,432 | SH | | SOLE | | 125,432 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 3,976 | 187,791 | SH | | SOLE | | 187,791 | 0 | 0 |
CLOUGH GLOBAL ALLOCATION FD | COM | 18913Y103 | 1,529 | 98,660 | SH | | SOLE | | 98,660 | 0 | 0 |
CLOUGH GLOBAL EQUITY FD | COM | 18914C100 | 11,324 | 731,545 | SH | | SOLE | | 731,545 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 9,555 | 735,007 | SH | | SOLE | | 735,007 | 0 | 0 |
COHEN & STEERS INFRASTRUCTUR | COM | 19248A109 | 20,025 | 817,699 | SH | | SOLE | | 817,699 | 0 | 0 |
CUTWATER SELECT INCOME FD | COM | 232229104 | 9,954 | 494,226 | SH | | SOLE | | 494,226 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 1,834 | 83,405 | SH | | SOLE | | 83,405 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 783 | 74,705 | SH | | SOLE | | 74,705 | 0 | 0 |
DWS GLOBAL HIGH INCOME FD | COM | 23338W104 | 1,507 | 179,133 | SH | | SOLE | | 179,133 | 0 | 0 |
EATON VANCE RISK MNGD DIV EQ | COM | 27829G106 | 3,564 | 308,861 | SH | | SOLE | | 308,861 | 0 | 0 |
EATON VANCE TAX MNGD GBL DV | COM | 27829F108 | 8,600 | 829,357 | SH | | SOLE | | 829,357 | 0 | 0 |
EATON VANCE TX MGD DIV EQ IN | COM | 27828N102 | 1,559 | 133,287 | SH | | SOLE | | 133,287 | 0 | 0 |
ELLSWORTH FUND LTD | COM | 289074106 | 2,698 | 305,537 | SH | | SOLE | | 305,537 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 10,792 | 1,197,756 | SH | | SOLE | | 1,197,756 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 1,911 | 99,991 | SH | | SOLE | | 99,991 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 9,650 | 608,468 | SH | | SOLE | | 608,468 | 0 | 0 |
FORT DEARBORN INCOME SECS IN | COM | 347200107 | 10,926 | 733,790 | SH | | SOLE | | 733,790 | 0 | 0 |
GABELLI DIVD & INCOME TR | COM | 36242H104 | 3,246 | 148,215 | SH | | SOLE | | 148,215 | 0 | 0 |
GABELLI GLB SML & MD CP VAL | COM | 36249W104 | 159 | 14,822 | SH | | SOLE | | 14,822 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 219 | 10,500 | SH | | SOLE | | 10,500 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 1,268 | 116,758 | SH | | SOLE | | 116,758 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 9,740 | 264,522 | SH | | SOLE | | 264,522 | 0 | 0 |
GUGGENHEIM EQ WEIGHT ENHANC | COM SH BEN INT | 40167M106 | 723 | 36,115 | SH | | SOLE | | 36,115 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 3,936 | 155,066 | SH | | SOLE | | 155,066 | 0 | 0 |
INVESCO BD FD | COM | 46132L107 | 6,719 | 350,333 | SH | | SOLE | | 350,333 | 0 | 0 |
ISHARES | CORE TOTUSBD ETF | 464287226 | 10,574 | 96,650 | SH | | SOLE | | 96,650 | 0 | 0 |
ISHARES | MSCI AUST ETF | 464286103 | 68,872 | 2,635,746 | SH | | SOLE | | 2,635,746 | 0 | 0 |
ISHARES | MSCI CDA ETF | 464286509 | 2,748 | 85,300 | SH | | SOLE | | 85,300 | 0 | 0 |
ISHARES | MSCI EAFE ETF | 464287465 | 22,808 | 333,600 | SH | | SOLE | | 333,600 | 0 | 0 |
ISHARES | MSCI FRANCE ETF | 464286707 | 36,434 | 1,249,891 | SH | | SOLE | | 1,249,891 | 0 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 22,741 | 727,000 | SH | | SOLE | | 727,000 | 0 | 0 |
ISHARES | MSCI JAPAN ETF | 464286848 | 124,547 | 10,344,432 | SH | | SOLE | | 10,344,432 | 0 | 0 |
ISHARES | MSCI UK ETF | 464286699 | 35,174 | 1,684,577 | SH | | SOLE | | 1,684,577 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 25,767 | 2,726,404 | SH | | SOLE | | 2,726,404 | 0 | 0 |
JPMORGAN CHINA REGION FD INC | COM | 48126T104 | 2,587 | 170,394 | SH | | SOLE | | 170,394 | 0 | 0 |
KOREA EQUITY FD INC | COM | 50063B104 | 4,098 | 463,629 | SH | | SOLE | | 463,629 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 21,091 | 493,693 | SH | | SOLE | | 493,693 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 2,648 | 192,271 | SH | | SOLE | | 192,271 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 20,651 | 1,111,483 | SH | | SOLE | | 1,111,483 | 0 | 0 |
LEGG MASON BW GLB INC OPP FD | COM | 52469B100 | 9,318 | 507,792 | SH | | SOLE | | 507,792 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 8,590 | 1,429,269 | SH | | SOLE | | 1,429,269 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 2,662 | 103,468 | SH | | SOLE | | 103,468 | 0 | 0 |
MADISON STRTG SECTOR PREM FD | COM | 558268108 | 1,148 | 89,725 | SH | | SOLE | | 89,725 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 4,679 | 290,639 | SH | | SOLE | | 290,639 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 5,391 | 583,441 | SH | | SOLE | | 583,441 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 2,830 | 487,070 | SH | | SOLE | | 487,070 | 0 | 0 |
MFS INTERMARKET INCOME TRUST | SH BEN INT | 59318R103 | 6,456 | 756,820 | SH | | SOLE | | 756,820 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 5,126 | 770,764 | SH | | SOLE | | 770,764 | 0 | 0 |
MONTGOMERY STR INCOME SECS I | COM | 614115103 | 28,070 | 1,682,825 | SH | | SOLE | | 1,682,825 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 29,347 | 1,756,240 | SH | | SOLE | | 1,756,240 | 0 | 0 |
MORGAN STANLEY EASTN EUR FD | COM | 616988101 | 3,132 | 168,502 | SH | | SOLE | | 168,502 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 1,717 | 169,020 | SH | | SOLE | | 169,020 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 8,821 | 549,908 | SH | | SOLE | | 549,908 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 15,567 | 862,429 | SH | | SOLE | | 862,429 | 0 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 3,619 | 723,898 | SH | | SOLE | | 723,898 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 32,500 | 1,740,730 | SH | | SOLE | | 1,740,730 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 4,772 | 350,126 | SH | | SOLE | | 350,126 | 0 | 0 |
NUVEEN BUILD AMER BD FD | COM | 67074C103 | 150 | 7,300 | SH | | SOLE | | 7,300 | 0 | 0 |
NUVEEN BUILD AMER BD OPPTNY | COM | 67074Q102 | 6,417 | 298,067 | SH | | SOLE | | 298,067 | 0 | 0 |
NUVEEN DIVER CURRENCY OPPOR | COM | 67090N109 | 5,453 | 485,578 | SH | | SOLE | | 485,578 | 0 | 0 |
NUVEEN GBL INCOME OPPORTUN F | COM | 67073C104 | 4,485 | 351,786 | SH | | SOLE | | 351,786 | 0 | 0 |
NUVEEN GLOBAL EQUITY INCOME | COM | 6706EH103 | 2,274 | 154,396 | SH | | SOLE | | 154,396 | 0 | 0 |
PETROLEUM & RES CORP | COM | 716549100 | 5,790 | 185,711 | SH | | SOLE | | 185,711 | 0 | 0 |
PUTNAM MASTER INTER INCOME T | SH BEN INT | 746909100 | 11,317 | 2,197,524 | SH | | SOLE | | 2,197,524 | 0 | 0 |
PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 | 25,797 | 4,648,133 | SH | | SOLE | | 4,648,133 | 0 | 0 |
ROYCE FOCUS TR | COM | 78080N108 | 829 | 96,911 | SH | | SOLE | | 96,911 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 414 | 32,777 | SH | | SOLE | | 32,777 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 2,110 | 131,847 | SH | | SOLE | | 131,847 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 48,510 | 3,329,477 | SH | | SOLE | | 3,329,477 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 5,485 | 267,674 | SH | | SOLE | | 267,674 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 16,531 | 639,496 | SH | | SOLE | | 639,496 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 2,484 | 136,280 | SH | | SOLE | | 136,280 | 0 | 0 |
TEMPLETON RUS AND EAST EUR F | COM | 88022F105 | 1,684 | 110,364 | SH | | SOLE | | 110,364 | 0 | 0 |
THAI FD INC | COM | 882904105 | 7,792 | 694,436 | SH | | SOLE | | 694,436 | 0 | 0 |
TORTOISE ENERGY INDEPENDENC | COM | 89148K101 | 866 | 30,806 | SH | | SOLE | | 30,806 | 0 | 0 |
TRANSAMERICA INCOME SHS INC | COM | 893506105 | 17,445 | 823,637 | SH | | SOLE | | 823,637 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 14,403 | 686,514 | SH | | SOLE | | 686,514 | 0 | 0 |
VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | 70,261 | 1,172,000 | SH | | SOLE | | 1,172,000 | 0 | 0 |
VIRTUS GLOBAL MULTI-SEC INC | COM | 92829B101 | 3,573 | 200,043 | SH | | SOLE | | 200,043 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 653 | 51,167 | SH | | SOLE | | 51,167 | 0 | 0 |
WELLS FARGO ADV GLB DIV OPP | COM | 94987C103 | 569 | 67,006 | SH | | SOLE | | 67,006 | 0 | 0 |
WELLS FARGO ADVANTAGE MULTI | COM SHS | 94987D101 | 2,363 | 158,575 | SH | | SOLE | | 158,575 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 40,347 | 3,277,554 | SH | | SOLE | | 3,277,554 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 20,395 | 1,667,593 | SH | | SOLE | | 1,667,593 | 0 | 0 |
WESTERN ASSET EMRG MKT INCM | COM | 95766E103 | 1,653 | 127,864 | SH | | SOLE | | 127,864 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 14,513 | 776,528 | SH | | SOLE | | 776,528 | 0 | 0 |
WESTERN ASSET INCOME FD | COM | 95766T100 | 12,707 | 914,825 | SH | | SOLE | | 914,825 | 0 | 0 |
WESTERN ASSET INVT GRADE DEF | COM | 95790A101 | 1,044 | 49,082 | SH | | SOLE | | 49,082 | 0 | 0 |
ZWEIG FD | COM NEW | 989834205 | 4,617 | 294,999 | SH | | SOLE | | 294,999 | 0 | 0 |
ZWEIG TOTAL RETURN FD INC | COM NEW | 989837208 | 1,727 | 119,995 | SH | | SOLE | | 119,995 | 0 | 0 |