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 | 17,293 | 3,451,640 | SH | | SOLE | | 3,451,640 | 0 | 0 |
ABERDEEN AUSTRALIA EQTY FD I | COM | 003011103 | 6,655 | 1,180,013 | SH | | SOLE | | 1,180,013 | 0 | 0 |
ABERDEEN CHILE FD INC | COM | 00301W105 | 2,670 | 427,202 | SH | | SOLE | | 427,202 | 0 | 0 |
ABERDEEN EMERGING MKTS SMALL | COM | 00301T102 | 1,641 | 136,105 | SH | | SOLE | | 136,105 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 1,721 | 205,456 | SH | | SOLE | | 205,456 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 4,691 | 760,270 | SH | | SOLE | | 760,270 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 6,990 | 422,386 | SH | | SOLE | | 422,386 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 19,142 | 2,495,725 | SH | | SOLE | | 2,495,725 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 8,135 | 404,344 | SH | | SOLE | | 404,344 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 12,310 | 1,361,772 | SH | | SOLE | | 1,361,772 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 1,102 | 54,815 | SH | | SOLE | | 54,815 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 8,491 | 670,192 | SH | | SOLE | | 670,192 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 787 | 142,612 | SH | | SOLE | | 142,612 | 0 | 0 |
ALLIANZGI EQUITY & CONV INCO | COM | 018829101 | 1,802 | 98,015 | SH | | SOLE | | 98,015 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 1,729 | 204,376 | SH | | SOLE | | 204,376 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 13,648 | 2,485,921 | SH | | SOLE | | 2,485,921 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 63,375 | 8,729,405 | SH | | SOLE | | 8,729,405 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 3,583 | 367,335 | SH | | SOLE | | 367,335 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 1,703 | 177,961 | SH | | SOLE | | 177,961 | 0 | 0 |
BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | 9,393 | 672,370 | SH | | SOLE | | 672,370 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 2,279 | 175,000 | SH | | SOLE | | 175,000 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 4,488 | 569,587 | SH | | SOLE | | 569,587 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 10,734 | 782,956 | SH | | SOLE | | 782,956 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 510 | 39,343 | SH | | SOLE | | 39,343 | 0 | 0 |
BLACKROCK GLOBAL OPP EQTY TR | COM | 092501105 | 47,873 | 4,039,902 | SH | | SOLE | | 4,039,902 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 17,192 | 2,593,023 | SH | | SOLE | | 2,593,023 | 0 | 0 |
BLACKROCK INTL GRWTH & INC T | COM BENE INTER | 092524107 | 12,301 | 2,139,282 | SH | | SOLE | | 2,139,282 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 1,426 | 93,600 | SH | | SOLE | | 93,600 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 47,128 | 6,120,483 | SH | | SOLE | | 6,120,483 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 19,681 | 2,391,432 | SH | | SOLE | | 2,391,432 | 0 | 0 |
CENTRAL EUR RUSS & TURK FD I | COM | 153436100 | 5,352 | 292,126 | SH | | SOLE | | 292,126 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 3,373 | 171,750 | SH | | SOLE | | 171,750 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 4,928 | 340,790 | SH | | SOLE | | 340,790 | 0 | 0 |
CLOUGH GLOBAL ALLOCATION FD | COM | 18913Y103 | 1,305 | 111,555 | SH | | SOLE | | 111,555 | 0 | 0 |
CLOUGH GLOBAL EQUITY FD | COM | 18914C100 | 7,316 | 683,123 | SH | | SOLE | | 683,123 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 11,858 | 1,270,950 | SH | | SOLE | | 1,270,950 | 0 | 0 |
COHEN & STEERS INFRASTRUCTUR | COM | 19248A109 | 32,770 | 1,529,874 | SH | | SOLE | | 1,529,874 | 0 | 0 |
CUSHING RENAISSANCE FD | COM | 231647108 | 583 | 37,228 | SH | | SOLE | | 37,228 | 0 | 0 |
CUTWATER SELECT INCOME FD | COM | 232229104 | 2,263 | 114,123 | SH | | SOLE | | 114,123 | 0 | 0 |
DELAWARE ENHANCED GBL DIV & | COM | 246060107 | 1,649 | 171,250 | SH | | SOLE | | 171,250 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 859 | 50,084 | SH | | SOLE | | 50,084 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 7,534 | 774,266 | SH | | SOLE | | 774,266 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 11,212 | 834,256 | SH | | SOLE | | 834,256 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 11,641 | 821,510 | SH | | SOLE | | 821,510 | 0 | 0 |
EATON VANCE SH TM DR DIVR IN | COM | 27828V104 | 3,515 | 260,364 | SH | | SOLE | | 260,364 | 0 | 0 |
EATON VANCE TX ADV GLBL DIV | COM | 27828S101 | 428 | 29,760 | SH | | SOLE | | 29,760 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 10,081 | 1,300,834 | SH | | SOLE | | 1,300,834 | 0 | 0 |
FIRST TR ABERDEEN GLBL OPP F | COM SHS | 337319107 | 2,815 | 246,090 | SH | | SOLE | | 246,090 | 0 | 0 |
FIRST TR DIVIDEND INCOME FD | COM | 33731L100 | 544 | 60,458 | SH | | SOLE | | 60,458 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQT | COM SHS | 33740D107 | 24,486 | 1,532,280 | SH | | SOLE | | 1,532,280 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 5,402 | 367,007 | SH | | SOLE | | 367,007 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 10,348 | 715,708 | SH | | SOLE | | 715,708 | 0 | 0 |
FRANKLIN LTD DURATION INC TR | COM | 35472T101 | 7,422 | 639,868 | SH | | SOLE | | 639,868 | 0 | 0 |
GABELLI GLB SML & MD CP VAL | COM | 36249W104 | 343 | 33,077 | SH | | SOLE | | 33,077 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 1,411 | 75,893 | SH | | SOLE | | 75,893 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 1,684 | 169,607 | SH | | SOLE | | 169,607 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 7,162 | 232,378 | SH | | SOLE | | 232,378 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 6,583 | 454,313 | SH | | SOLE | | 454,313 | 0 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 2,264 | 541,632 | SH | | SOLE | | 541,632 | 0 | 0 |
ISHARES | MSCI AUST ETF | 464286103 | 60,485 | 3,109,757 | SH | | SOLE | | 3,109,757 | 0 | 0 |
ISHARES | MSCI EURZONE ETF | 464286608 | 42,572 | 1,319,230 | SH | | SOLE | | 1,319,230 | 0 | 0 |
ISHARES | MSCI FRANCE ETF | 464286707 | 9,686 | 423,512 | SH | | SOLE | | 423,512 | 0 | 0 |
ISHARES | MSCI SZ CAP ETF | 464286749 | 16,763 | 565,351 | SH | | SOLE | | 565,351 | 0 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 50,680 | 2,107,283 | SH | | SOLE | | 2,107,283 | 0 | 0 |
ISHARES | MSCI JAPAN ETF | 464286848 | 124,770 | 10,849,532 | SH | | SOLE | | 10,849,532 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 39,325 | 349,200 | SH | | SOLE | | 349,200 | 0 | 0 |
ISHARES TR | 7-10 Y TR BD ETF | 464287440 | 32,095 | 284,150 | SH | | SOLE | | 284,150 | 0 | 0 |
ISHARES TR | MSCI EAFE ETF | 464287465 | 8,730 | 156,398 | SH | | SOLE | | 156,398 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 2,973 | 27,036 | SH | | SOLE | | 27,036 | 0 | 0 |
ISHARES TR | CORE US TR BD | 46429B267 | 3,852 | 146,800 | SH | | SOLE | | 146,800 | 0 | 0 |
ISHARES TR | MSCI UTD KNGDM | 46434V548 | 415 | 26,990 | SH | | SOLE | | 26,990 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 41,069 | 4,199,234 | SH | | SOLE | | 4,199,234 | 0 | 0 |
JPMORGAN CHINA REGION FD INC | COM | 48126T104 | 4,255 | 279,964 | SH | | SOLE | | 279,964 | 0 | 0 |
KOREA EQUITY FD INC | COM | 50063B104 | 5,207 | 662,433 | SH | | SOLE | | 662,433 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 16,454 | 508,945 | SH | | SOLE | | 508,945 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 1,656 | 179,255 | SH | | SOLE | | 179,255 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 13,213 | 1,009,980 | SH | | SOLE | | 1,009,980 | 0 | 0 |
LEGG MASON BW GLB INC OPP FD | COM | 52469B100 | 7,595 | 586,007 | SH | | SOLE | | 586,007 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 7,538 | 1,501,664 | SH | | SOLE | | 1,501,664 | 0 | 0 |
LIBERTY ALL-STAR GROWTH FD I | COM | 529900102 | 750 | 183,421 | SH | | SOLE | | 183,421 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 1,979 | 150,721 | SH | | SOLE | | 150,721 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 13,041 | 609,401 | SH | | SOLE | | 609,401 | 0 | 0 |
MADISON STRTG SECTOR PREM FD | COM | 558268108 | 924 | 80,319 | SH | | SOLE | | 80,319 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 3,804 | 349,302 | SH | | SOLE | | 349,302 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 12,289 | 1,450,840 | SH | | SOLE | | 1,450,840 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 4,067 | 876,566 | SH | | SOLE | | 876,566 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 15,815 | 2,614,096 | SH | | SOLE | | 2,614,096 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 16,966 | 1,231,194 | SH | | SOLE | | 1,231,194 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 7,747 | 433,757 | SH | | SOLE | | 433,757 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 2,341 | 252,782 | SH | | SOLE | | 252,782 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 8,375 | 630,667 | SH | | SOLE | | 630,667 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 16,335 | 890,185 | SH | | SOLE | | 890,185 | 0 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 2,914 | 513,055 | SH | | SOLE | | 513,055 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 14,673 | 1,104,882 | SH | | SOLE | | 1,104,882 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 5,468 | 461,441 | SH | | SOLE | | 461,441 | 0 | 0 |
NUVEEN DOW 30 DYN OVERWRITE | SHS | 67075F105 | 1,612 | 110,943 | SH | | SOLE | | 110,943 | 0 | 0 |
NUVEEN ENHANCED MUN CREDIT O | COM SH BEN INT | 67070X101 | 18,777 | 1,179,446 | SH | | SOLE | | 1,179,446 | 0 | 0 |
NUVEEN GLOBAL EQUITY INCOME | COM | 6706EH103 | 2,009 | 172,169 | SH | | SOLE | | 172,169 | 0 | 0 |
NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 | 4,367 | 303,487 | SH | | SOLE | | 303,487 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 5,943 | 794,472 | SH | | SOLE | | 794,472 | 0 | 0 |
NUVEEN MUN MKT OPPORTUNITY F | COM | 67062W103 | 10,560 | 700,252 | SH | | SOLE | | 700,252 | 0 | 0 |
NUVEEN SELECT QUALITY MUN FD | COM | 670973106 | 19,096 | 1,230,396 | SH | | SOLE | | 1,230,396 | 0 | 0 |
PUTNAM MASTER INTER INCOME T | SH BEN INT | 746909100 | 8,990 | 2,076,131 | SH | | SOLE | | 2,076,131 | 0 | 0 |
PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 | 24,048 | 5,116,564 | SH | | SOLE | | 5,116,564 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 2,175 | 286,203 | SH | | SOLE | | 286,203 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 541 | 73,656 | SH | | SOLE | | 73,656 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 2,623 | 222,834 | SH | | SOLE | | 222,834 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 2,750 | 428,359 | SH | | SOLE | | 428,359 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 39,511 | 3,817,501 | SH | | SOLE | | 3,817,501 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 5,100 | 334,432 | SH | | SOLE | | 334,432 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 11,730 | 676,919 | SH | | SOLE | | 676,919 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 15,025 | 1,319,111 | SH | | SOLE | | 1,319,111 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 4,683 | 736,355 | SH | | SOLE | | 736,355 | 0 | 0 |
THAI FD INC | COM | 882904105 | 6,171 | 780,136 | SH | | SOLE | | 780,136 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 9,740 | 474,198 | SH | | SOLE | | 474,198 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 1,559 | 176,109 | SH | | SOLE | | 176,109 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 18,001 | 2,449,093 | SH | | SOLE | | 2,449,093 | 0 | 0 |
WELLS FARGO GLOBAL DIVIDEND | WF GLOBAL OPPTY | 94987C103 | 3,836 | 642,495 | SH | | SOLE | | 642,495 | 0 | 0 |
WELLS FARGO MULTI SECTOR INC | WF MLT SECTR INC | 94987D101 | 1,911 | 151,047 | SH | | SOLE | | 151,047 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 40,999 | 3,690,289 | SH | | SOLE | | 3,690,289 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 23,711 | 2,065,443 | SH | | SOLE | | 2,065,443 | 0 | 0 |
WESTERN ASSET EMRG MKT INCM | COM | 95766E103 | 6,835 | 630,544 | SH | | SOLE | | 630,544 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 15,569 | 913,668 | SH | | SOLE | | 913,668 | 0 | 0 |
WESTERN ASSET INCOME FD | COM | 95766T100 | 172 | 12,148 | SH | | SOLE | | 12,148 | 0 | 0 |
ZWEIG FD | COM NEW | 989834205 | 1,830 | 145,391 | SH | | SOLE | | 145,391 | 0 | 0 |
ZWEIG TOTAL RETURN FD INC | COM NEW | 989837208 | 686 | 57,002 | SH | | SOLE | | 57,002 | 0 | 0 |