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 | 17,607 | 3,521,352 | SH | | SOLE | | 3,521,352 | 0 | 0 |
ABERDEEN AUSTRALIA EQTY FD I | COM | 003011103 | 6,748 | 1,213,712 | SH | | SOLE | | 1,213,712 | 0 | 0 |
ABERDEEN CHILE FD INC | COM | 00301W105 | 2,567 | 427,202 | SH | | SOLE | | 427,202 | 0 | 0 |
ABERDEEN EMERGING MKTS SMALL | COM | 00301T102 | 1,583 | 136,105 | SH | | SOLE | | 136,105 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 1,705 | 205,456 | SH | | SOLE | | 205,456 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 4,488 | 753,070 | SH | | SOLE | | 753,070 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 7,233 | 423,516 | SH | | SOLE | | 423,516 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 18,140 | 2,471,446 | SH | | SOLE | | 2,471,446 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 7,252 | 399,544 | SH | | SOLE | | 399,544 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 10,306 | 1,146,406 | SH | | SOLE | | 1,146,406 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 1,990 | 110,643 | SH | | SOLE | | 110,643 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 7,944 | 627,977 | SH | | SOLE | | 627,977 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 774 | 142,612 | SH | | SOLE | | 142,612 | 0 | 0 |
ALLIANCEBERNSTEIN INCOME FUN | COM | 01881E101 | 56,799 | 7,235,498 | SH | | SOLE | | 7,235,498 | 0 | 0 |
ALLIANZGI EQUITY & CONV INCO | COM | 018829101 | 2,491 | 136,960 | SH | | SOLE | | 136,960 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 1,786 | 209,376 | SH | | SOLE | | 209,376 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 13,927 | 2,491,421 | SH | | SOLE | | 2,491,421 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 65,088 | 8,678,343 | SH | | SOLE | | 8,678,343 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 3,434 | 357,329 | SH | | SOLE | | 357,329 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 1,488 | 163,520 | SH | | SOLE | | 163,520 | 0 | 0 |
BANCROFT FUND LTD | COM | 059695106 | 773 | 43,069 | SH | | SOLE | | 43,069 | 0 | 0 |
BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | 15,153 | 1,131,638 | SH | | SOLE | | 1,131,638 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 13,327 | 1,064,472 | SH | | SOLE | | 1,064,472 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 4,394 | 582,787 | SH | | SOLE | | 582,787 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 10,471 | 772,161 | SH | | SOLE | | 772,161 | 0 | 0 |
BLACKROCK GLOBAL OPP EQTY TR | COM | 092501105 | 48,202 | 4,057,369 | SH | | SOLE | | 4,057,369 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 19,421 | 2,929,280 | SH | | SOLE | | 2,929,280 | 0 | 0 |
BLACKROCK INTL GRWTH & INC T | COM BENE INTER | 092524107 | 12,702 | 2,145,682 | SH | | SOLE | | 2,145,682 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 1,391 | 94,900 | SH | | SOLE | | 94,900 | 0 | 0 |
BLACKROCK MUNICIPL INC QLTY | COM | 092479104 | 1,046 | 69,461 | SH | | SOLE | | 69,461 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 43,925 | 6,092,177 | SH | | SOLE | | 6,092,177 | 0 | 0 |
BLACKROCK UTIL & INFRASTRCTU | COM | 09248D104 | 2,470 | 133,365 | SH | | SOLE | | 133,365 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 18,620 | 2,384,142 | SH | | SOLE | | 2,384,142 | 0 | 0 |
CENTRAL EUR RUSS & TURK FD I | COM | 153436100 | 5,470 | 292,226 | SH | | SOLE | | 292,226 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 2,029 | 106,000 | SH | | SOLE | | 106,000 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 5,028 | 341,090 | SH | | SOLE | | 341,090 | 0 | 0 |
CLOUGH GLOBAL ALLOCATION FD | COM | 18913Y103 | 1,293 | 111,331 | SH | | SOLE | | 111,331 | 0 | 0 |
CLOUGH GLOBAL EQUITY FD | COM | 18914C100 | 7,353 | 675,803 | SH | | SOLE | | 675,803 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 12,568 | 1,311,950 | SH | | SOLE | | 1,311,950 | 0 | 0 |
COHEN & STEERS INFRASTRUCTUR | COM | 19248A109 | 30,376 | 1,533,356 | SH | | SOLE | | 1,533,356 | 0 | 0 |
COHEN & STEERS QUALITY RLTY | COM | 19247L106 | 762 | 61,400 | SH | | SOLE | | 61,400 | 0 | 0 |
CUSHING RENAISSANCE FD | COM | 231647108 | 522 | 37,228 | SH | | SOLE | | 37,228 | 0 | 0 |
CUTWATER SELECT INCOME FD | COM | 232229104 | 6,559 | 342,704 | SH | | SOLE | | 342,704 | 0 | 0 |
DELAWARE ENHANCED GBL DIV & | COM | 246060107 | 1,567 | 171,250 | SH | | SOLE | | 171,250 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 3,712 | 233,303 | SH | | SOLE | | 233,303 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 7,439 | 773,318 | SH | | SOLE | | 773,318 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 10,870 | 824,756 | SH | | SOLE | | 824,756 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 10,960 | 824,069 | SH | | SOLE | | 824,069 | 0 | 0 |
EATON VANCE RISK MNGD DIV EQ | COM | 27829G106 | 1,117 | 117,835 | SH | | SOLE | | 117,835 | 0 | 0 |
EATON VANCE SH TM DR DIVR IN | COM | 27828V104 | 3,507 | 262,864 | SH | | SOLE | | 262,864 | 0 | 0 |
ELLSWORTH GROWTH & INCOME FD | COM | 289074106 | 1,383 | 181,925 | SH | | SOLE | | 181,925 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 10,245 | 1,303,434 | SH | | SOLE | | 1,303,434 | 0 | 0 |
FIRST TR ABERDEEN GLBL OPP F | COM SHS | 337319107 | 2,701 | 246,440 | SH | | SOLE | | 246,440 | 0 | 0 |
FIRST TR DIVIDEND INCOME FD | COM | 33731L100 | 483 | 55,872 | SH | | SOLE | | 55,872 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQT | COM SHS | 33740D107 | 21,032 | 1,260,885 | SH | | SOLE | | 1,260,885 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 5,142 | 369,107 | SH | | SOLE | | 369,107 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 10,224 | 711,471 | SH | | SOLE | | 711,471 | 0 | 0 |
FORT DEARBORN INCOME SECS IN | COM | 347200107 | 10,602 | 734,742 | SH | | SOLE | | 734,742 | 0 | 0 |
FRANKLIN LTD DURATION INC TR | COM | 35472T101 | 7,409 | 653,379 | SH | | SOLE | | 653,379 | 0 | 0 |
GABELLI GLB SML & MD CP VAL | COM | 36249W104 | 349 | 33,077 | SH | | SOLE | | 33,077 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 1,284 | 71,746 | SH | | SOLE | | 71,746 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 1,816 | 181,007 | SH | | SOLE | | 181,007 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 6,739 | 215,778 | SH | | SOLE | | 215,778 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 6,473 | 465,513 | SH | | SOLE | | 465,513 | 0 | 0 |
INVESCO BD FD | COM | 46132L107 | 4,296 | 232,854 | SH | | SOLE | | 232,854 | 0 | 0 |
ISHARES | MSCI AUST ETF | 464286103 | 63,291 | 3,275,957 | SH | | SOLE | | 3,275,957 | 0 | 0 |
ISHARES | MSCI EURZONE ETF | 464286608 | 45,124 | 1,312,130 | SH | | SOLE | | 1,312,130 | 0 | 0 |
ISHARES | MSCI FRANCE ETF | 464286707 | 10,277 | 425,012 | SH | | SOLE | | 425,012 | 0 | 0 |
ISHARES | MSCI SZ CAP ETF | 464286749 | 16,635 | 559,551 | SH | | SOLE | | 559,551 | 0 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 42,467 | 1,650,500 | SH | | SOLE | | 1,650,500 | 0 | 0 |
ISHARES | MSCI JAPAN ETF | 464286848 | 125,192 | 10,972,132 | SH | | SOLE | | 10,972,132 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 18,059 | 162,950 | SH | | SOLE | | 162,950 | 0 | 0 |
ISHARES TR | 7-10 Y TR BD ETF | 464287440 | 19,814 | 179,575 | SH | | SOLE | | 179,575 | 0 | 0 |
ISHARES TR | MSCI EAFE ETF | 464287465 | 15,479 | 270,800 | SH | | SOLE | | 270,800 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 2,829 | 25,836 | SH | | SOLE | | 25,836 | 0 | 0 |
ISHARES TR | CORE US TR BD | 46429B267 | 3,803 | 147,400 | SH | | SOLE | | 147,400 | 0 | 0 |
ISHARES TR | MSCI UTD KNGDM | 46434V548 | 398 | 25,390 | SH | | SOLE | | 25,390 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 38,107 | 3,948,880 | SH | | SOLE | | 3,948,880 | 0 | 0 |
JPMORGAN CHINA REGION FD INC | COM | 48126T104 | 4,138 | 279,964 | SH | | SOLE | | 279,964 | 0 | 0 |
KOREA EQUITY FD INC | COM | 50063B104 | 5,243 | 659,533 | SH | | SOLE | | 659,533 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 16,586 | 510,345 | SH | | SOLE | | 510,345 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 1,572 | 179,255 | SH | | SOLE | | 179,255 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 12,615 | 1,014,860 | SH | | SOLE | | 1,014,860 | 0 | 0 |
LEGG MASON BW GLB INC OPP FD | COM | 52469B100 | 7,133 | 577,533 | SH | | SOLE | | 577,533 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 6,404 | 1,288,442 | SH | | SOLE | | 1,288,442 | 0 | 0 |
LIBERTY ALL-STAR GROWTH FD I | COM | 529900102 | 461 | 113,748 | SH | | SOLE | | 113,748 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 1,908 | 154,221 | SH | | SOLE | | 154,221 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 12,163 | 605,443 | SH | | SOLE | | 605,443 | 0 | 0 |
MADISON STRTG SECTOR PREM FD | COM | 558268108 | 904 | 80,319 | SH | | SOLE | | 80,319 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 3,916 | 349,302 | SH | | SOLE | | 349,302 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 11,863 | 1,459,120 | SH | | SOLE | | 1,459,120 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 4,041 | 876,472 | SH | | SOLE | | 876,472 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 15,445 | 2,649,196 | SH | | SOLE | | 2,649,196 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 16,952 | 1,238,264 | SH | | SOLE | | 1,238,264 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 7,299 | 431,357 | SH | | SOLE | | 431,357 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 2,174 | 247,582 | SH | | SOLE | | 247,582 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 8,289 | 628,467 | SH | | SOLE | | 628,467 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 16,412 | 937,285 | SH | | SOLE | | 937,285 | 0 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 2,674 | 525,355 | SH | | SOLE | | 525,355 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 15,088 | 1,070,822 | SH | | SOLE | | 1,070,822 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 6,138 | 472,724 | SH | | SOLE | | 472,724 | 0 | 0 |
NUVEEN DOW 30 DYN OVERWRITE | SHS | 67075F105 | 690 | 48,926 | SH | | SOLE | | 48,926 | 0 | 0 |
NUVEEN GLOBAL EQUITY INCOME | COM | 6706EH103 | 1,889 | 172,169 | SH | | SOLE | | 172,169 | 0 | 0 |
NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 | 4,263 | 307,325 | SH | | SOLE | | 307,325 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 6,134 | 850,801 | SH | | SOLE | | 850,801 | 0 | 0 |
NUVEEN MUN ADVANTAGE FD INC | COM | 67062H106 | 17,997 | 1,254,149 | SH | | SOLE | | 1,254,149 | 0 | 0 |
NUVEEN MUN MKT OPPORTUNITY F | COM | 67062W103 | 10,683 | 751,300 | SH | | SOLE | | 751,300 | 0 | 0 |
NUVEEN SELECT QUALITY MUN FD | COM | 670973106 | 18,237 | 1,243,977 | SH | | SOLE | | 1,243,977 | 0 | 0 |
PUTNAM MASTER INTER INCOME T | SH BEN INT | 746909100 | 9,407 | 2,138,031 | SH | | SOLE | | 2,138,031 | 0 | 0 |
PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 | 24,558 | 5,181,065 | SH | | SOLE | | 5,181,065 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 1,979 | 268,527 | SH | | SOLE | | 268,527 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 1,678 | 143,314 | SH | | SOLE | | 143,314 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 2,084 | 342,251 | SH | | SOLE | | 342,251 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 38,591 | 3,790,901 | SH | | SOLE | | 3,790,901 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 4,779 | 307,547 | SH | | SOLE | | 307,547 | 0 | 0 |
TEKLA WORLD HEALTHCARE FD | BEN INT SHS | 87911L108 | 577 | 41,113 | SH | | SOLE | | 41,113 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 11,540 | 674,058 | SH | | SOLE | | 674,058 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 14,219 | 1,314,113 | SH | | SOLE | | 1,314,113 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 4,842 | 742,622 | SH | | SOLE | | 742,622 | 0 | 0 |
THAI FD INC | COM | 882904105 | 5,829 | 777,252 | SH | | SOLE | | 777,252 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 9,720 | 486,998 | SH | | SOLE | | 486,998 | 0 | 0 |
VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | 14,595 | 300,800 | SH | | SOLE | | 300,800 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 1,612 | 174,499 | SH | | SOLE | | 174,499 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 18,954 | 2,451,693 | SH | | SOLE | | 2,451,693 | 0 | 0 |
WELLS FARGO GLOBAL DIVIDEND | WF GLOBAL OPPTY | 94987C103 | 3,190 | 534,350 | SH | | SOLE | | 534,350 | 0 | 0 |
WELLS FARGO MULTI SECTOR INC | WF MLT SECTR INC | 94987D101 | 2,624 | 214,711 | SH | | SOLE | | 214,711 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 43,158 | 3,902,178 | SH | | SOLE | | 3,902,178 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 24,955 | 2,190,957 | SH | | SOLE | | 2,190,957 | 0 | 0 |
WESTERN ASSET EMRG MKT INCM | COM | 95766E103 | 6,519 | 635,344 | SH | | SOLE | | 635,344 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 15,207 | 922,165 | SH | | SOLE | | 922,165 | 0 | 0 |
WESTERN ASSET INCOME FD | COM | 95766T100 | 10,037 | 738,585 | SH | | SOLE | | 738,585 | 0 | 0 |
ZWEIG FD | COM NEW | 989834205 | 3,099 | 240,604 | SH | | SOLE | | 240,604 | 0 | 0 |
ZWEIG TOTAL RETURN FD INC | COM NEW | 989837208 | 1,071 | 89,336 | SH | | SOLE | | 89,336 | 0 | 0 |