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 | 14,722 | 3,179,610 | SH | | SOLE | | 3,179,610 | 0 | 0 |
ABERDEEN AUSTRALIA EQTY FD I | COM | 003011103 | 7,057 | 1,302,085 | SH | | SOLE | | 1,302,085 | 0 | 0 |
ABERDEEN CHILE FD INC | COM | 00301W105 | 2,632 | 441,638 | SH | | SOLE | | 441,638 | 0 | 0 |
ABERDEEN EMERGING MKTS SMALL | COM | 00301T102 | 1,719 | 152,766 | SH | | SOLE | | 152,766 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 1,957 | 225,150 | SH | | SOLE | | 225,150 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 4,798 | 754,441 | SH | | SOLE | | 754,441 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 7,047 | 438,397 | SH | | SOLE | | 438,397 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 19,612 | 2,662,820 | SH | | SOLE | | 2,662,820 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 8,198 | 414,261 | SH | | SOLE | | 414,261 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 11,986 | 1,384,058 | SH | | SOLE | | 1,384,058 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 1,053 | 52,215 | SH | | SOLE | | 52,215 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 8,854 | 696,645 | SH | | SOLE | | 696,645 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 771 | 131,190 | SH | | SOLE | | 131,190 | 0 | 0 |
ALLIANZGI EQUITY & CONV INCO | COM | 018829101 | 1,040 | 56,478 | SH | | SOLE | | 56,478 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 1,716 | 195,676 | SH | | SOLE | | 195,676 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 13,157 | 2,564,796 | SH | | SOLE | | 2,564,796 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 67,284 | 8,876,459 | SH | | SOLE | | 8,876,459 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 3,472 | 357,238 | SH | | SOLE | | 357,238 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 1,747 | 190,692 | SH | | SOLE | | 190,692 | 0 | 0 |
BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | 6,129 | 471,108 | SH | | SOLE | | 471,108 | 0 | 0 |
BLACKROCK ENH CAP & INC FD I | COM | 09256A109 | 1,776 | 129,527 | SH | | SOLE | | 129,527 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 5,140 | 630,687 | SH | | SOLE | | 630,687 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 8,052 | 610,462 | SH | | SOLE | | 610,462 | 0 | 0 |
BLACKROCK GLOBAL OPP EQTY TR | COM | 092501105 | 47,794 | 4,130,837 | SH | | SOLE | | 4,130,837 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 11,070 | 1,748,887 | SH | | SOLE | | 1,748,887 | 0 | 0 |
BLACKROCK INTL GRWTH & INC T | COM BENE INTER | 092524107 | 21,676 | 3,934,024 | SH | | SOLE | | 3,934,024 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 1,305 | 94,600 | SH | | SOLE | | 94,600 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 50,926 | 6,157,979 | SH | | SOLE | | 6,157,979 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 17,739 | 2,429,985 | SH | | SOLE | | 2,429,985 | 0 | 0 |
CENTRAL EUR RUSS & TURK FD I | COM | 153436100 | 5,962 | 289,826 | SH | | SOLE | | 289,826 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 3,549 | 162,850 | SH | | SOLE | | 162,850 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 5,680 | 377,422 | SH | | SOLE | | 377,422 | 0 | 0 |
CLOUGH GLOBAL DIVND AND INC | COM | 18913Y103 | 631 | 52,384 | SH | | SOLE | | 52,384 | 0 | 0 |
CLOUGH GLOBAL EQUITY FD | COM | 18914C100 | 7,482 | 672,221 | SH | | SOLE | | 672,221 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 11,588 | 1,294,735 | SH | | SOLE | | 1,294,735 | 0 | 0 |
COHEN & STEERS INFRASTRUCTUR | COM | 19248A109 | 23,844 | 1,231,621 | SH | | SOLE | | 1,231,621 | 0 | 0 |
DELAWARE ENHANCED GBL DIV & | COM | 246060107 | 1,609 | 159,150 | SH | | SOLE | | 159,150 | 0 | 0 |
DEUTSCHE MULTI-MKT INCOME TR | SHS | 25160E102 | 2,735 | 320,982 | SH | | SOLE | | 320,982 | 0 | 0 |
DEUTSCHE STRATEGIC INCOME TR | SHS | 25160F109 | 283 | 23,820 | SH | | SOLE | | 23,820 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 716 | 46,184 | SH | | SOLE | | 46,184 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 9,903 | 1,049,000 | SH | | SOLE | | 1,049,000 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 13,782 | 1,004,528 | SH | | SOLE | | 1,004,528 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 10,149 | 817,769 | SH | | SOLE | | 817,769 | 0 | 0 |
EATON VANCE SH TM DR DIVR IN | COM | 27828V104 | 3,682 | 265,687 | SH | | SOLE | | 265,687 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 11,313 | 1,465,395 | SH | | SOLE | | 1,465,395 | 0 | 0 |
FIRST TR ABERDEEN GLBL OPP F | COM SHS | 337319107 | 2,527 | 226,390 | SH | | SOLE | | 226,390 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQT | COM SHS | 33740D107 | 28,929 | 1,863,954 | SH | | SOLE | | 1,863,954 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 4,888 | 351,908 | SH | | SOLE | | 351,908 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 7,777 | 551,985 | SH | | SOLE | | 551,985 | 0 | 0 |
FRANKLIN LTD DURATION INC TR | COM | 35472T101 | 7,205 | 598,458 | SH | | SOLE | | 598,458 | 0 | 0 |
GABELLI EQUITY TR INC | COM | 362397101 | 932 | 168,852 | SH | | SOLE | | 168,852 | 0 | 0 |
GABELLI GLB SML & MD CP VAL | COM | 36249W104 | 334 | 31,477 | SH | | SOLE | | 31,477 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 1,185 | 70,550 | SH | | SOLE | | 70,550 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 849 | 86,278 | SH | | SOLE | | 86,278 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 7,369 | 236,339 | SH | | SOLE | | 236,339 | 0 | 0 |
GUGGENHEIM TAXABLE MUN MNGD | COM | 401664107 | 1,351 | 63,104 | SH | | SOLE | | 63,104 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 7,469 | 532,883 | SH | | SOLE | | 532,883 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 2,680 | 161,427 | SH | | SOLE | | 161,427 | 0 | 0 |
INVESCO SR INCOME TR | COM | 46131H107 | 2,287 | 492,932 | SH | | SOLE | | 492,932 | 0 | 0 |
ISHARES | MSCI AUST ETF | 464286103 | 58,893 | 2,911,157 | SH | | SOLE | | 2,911,157 | 0 | 0 |
ISHARES | MSCI EURZONE ETF | 464286608 | 45,728 | 1,321,630 | SH | | SOLE | | 1,321,630 | 0 | 0 |
ISHARES | MSCI FRANCE ETF | 464286707 | 10,993 | 445,612 | SH | | SOLE | | 445,612 | 0 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 47,274 | 1,785,276 | SH | | SOLE | | 1,785,276 | 0 | 0 |
ISHARES | MSCI SZ CAP ETF | 464286749 | 15,156 | 514,451 | SH | | SOLE | | 514,451 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 110,283 | 2,257,126 | SH | | SOLE | | 2,257,126 | 0 | 0 |
ISHARES TR | 7-10 Y TR BD ETF | 464287440 | 50,989 | 486,440 | SH | | SOLE | | 486,440 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 99,010 | 916,251 | SH | | SOLE | | 916,251 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 1,935 | 18,200 | SH | | SOLE | | 18,200 | 0 | 0 |
ISHARES TR | MSCI UK ETF NEW | 46435G334 | 403 | 13,145 | SH | | SOLE | | 13,145 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 41,953 | 4,314,463 | SH | | SOLE | | 4,314,463 | 0 | 0 |
JPMORGAN CHINA REGION FD INC | COM | 48126T104 | 4,410 | 283,032 | SH | | SOLE | | 283,032 | 0 | 0 |
KOREA EQUITY FD INC | COM | 50063B104 | 4,930 | 665,295 | SH | | SOLE | | 665,295 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 16,292 | 511,033 | SH | | SOLE | | 511,033 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 1,574 | 169,453 | SH | | SOLE | | 169,453 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 10,703 | 778,980 | SH | | SOLE | | 778,980 | 0 | 0 |
LEGG MASON BW GLB INC OPP FD | COM | 52469B100 | 6,177 | 522,124 | SH | | SOLE | | 522,124 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 8,825 | 1,710,322 | SH | | SOLE | | 1,710,322 | 0 | 0 |
LIBERTY ALL-STAR GROWTH FD I | COM | 529900102 | 875 | 209,369 | SH | | SOLE | | 209,369 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 1,899 | 142,921 | SH | | SOLE | | 142,921 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 12,364 | 626,658 | SH | | SOLE | | 626,658 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 3,083 | 336,227 | SH | | SOLE | | 336,227 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 11,279 | 1,323,822 | SH | | SOLE | | 1,323,822 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 10,705 | 2,411,057 | SH | | SOLE | | 2,411,057 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 14,963 | 2,469,071 | SH | | SOLE | | 2,469,071 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 17,152 | 1,270,514 | SH | | SOLE | | 1,270,514 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 8,258 | 486,077 | SH | | SOLE | | 486,077 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 2,315 | 254,382 | SH | | SOLE | | 254,382 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 8,397 | 637,139 | SH | | SOLE | | 637,139 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 14,051 | 783,223 | SH | | SOLE | | 783,223 | 0 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 2,790 | 519,555 | SH | | SOLE | | 519,555 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 14,789 | 1,131,524 | SH | | SOLE | | 1,131,524 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 5,563 | 464,741 | SH | | SOLE | | 464,741 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 7,490 | 561,458 | SH | | SOLE | | 561,458 | 0 | 0 |
NUVEEN DOW 30 DYN OVERWRITE | SHS | 67075F105 | 2,115 | 141,018 | SH | | SOLE | | 141,018 | 0 | 0 |
NUVEEN GLOBAL HIGH INCOME FD | SHS | 67075G103 | 4,407 | 275,587 | SH | | SOLE | | 275,587 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 5,750 | 787,697 | SH | | SOLE | | 787,697 | 0 | 0 |
NUVEEN NASDAQ 100 DYNAMIC OV | COM SHS | 670699107 | 1,587 | 85,533 | SH | | SOLE | | 85,533 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 15,471 | 1,108,224 | SH | | SOLE | | 1,108,224 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063C106 | 36 | 2,722 | SH | | SOLE | | 2,722 | 0 | 0 |
PUTNAM MASTER INTER INCOME T | SH BEN INT | 746909100 | 6,694 | 1,452,143 | SH | | SOLE | | 1,452,143 | 0 | 0 |
PUTNAM PREMIER INCOME TR | SH BEN INT | 746853100 | 26,615 | 5,355,044 | SH | | SOLE | | 5,355,044 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 2,266 | 282,003 | SH | | SOLE | | 282,003 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 832 | 101,999 | SH | | SOLE | | 101,999 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 3,021 | 225,634 | SH | | SOLE | | 225,634 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 2,971 | 428,123 | SH | | SOLE | | 428,123 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 39,871 | 3,905,081 | SH | | SOLE | | 3,905,081 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 5,557 | 345,172 | SH | | SOLE | | 345,172 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 11,019 | 672,719 | SH | | SOLE | | 672,719 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 15,992 | 1,322,760 | SH | | SOLE | | 1,322,760 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 4,311 | 665,291 | SH | | SOLE | | 665,291 | 0 | 0 |
THAI FD INC | COM | 882904105 | 5,830 | 767,157 | SH | | SOLE | | 767,157 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 9,931 | 450,398 | SH | | SOLE | | 450,398 | 0 | 0 |
VIRTUS GLOBAL DIVID INCOME F | COM | 92835W107 | 460 | 38,209 | SH | | SOLE | | 38,209 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 1,481 | 170,017 | SH | | SOLE | | 170,017 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 18,129 | 2,433,421 | SH | | SOLE | | 2,433,421 | 0 | 0 |
WELLS FARGO GLOBAL DIVIDEND | COM | 94987C103 | 5,403 | 991,307 | SH | | SOLE | | 991,307 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 34,085 | 3,059,688 | SH | | SOLE | | 3,059,688 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 20,766 | 1,808,871 | SH | | SOLE | | 1,808,871 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 6,071 | 412,682 | SH | | SOLE | | 412,682 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 12,365 | 722,281 | SH | | SOLE | | 722,281 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 873 | 67,400 | SH | | SOLE | | 67,400 | 0 | 0 |
ZWEIG FD | COM NEW | 989834205 | 1,760 | 145,591 | SH | | SOLE | | 145,591 | 0 | 0 |