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 | 6,476 | 1,295,183 | SH | | SOLE | | 1,295,183 | 0 | 0 |
ABERDEEN AUSTRALIA EQTY FD I | COM | 003011103 | 7,894 | 1,296,220 | SH | | SOLE | | 1,296,220 | 0 | 0 |
ABERDEEN CHILE FD INC | COM | 00301W105 | 3,048 | 430,538 | SH | | SOLE | | 430,538 | 0 | 0 |
ABERDEEN EMERGING MKTS SMALL | COM | 00301T102 | 3,890 | 281,750 | SH | | SOLE | | 281,750 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 2,658 | 231,728 | SH | | SOLE | | 231,728 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 5,682 | 747,041 | SH | | SOLE | | 747,041 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 8,469 | 438,016 | SH | | SOLE | | 438,016 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 22,273 | 2,620,297 | SH | | SOLE | | 2,620,297 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 9,445 | 408,010 | SH | | SOLE | | 408,010 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 15,059 | 1,360,358 | SH | | SOLE | | 1,360,358 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 1,641 | 87,761 | SH | | SOLE | | 87,761 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 18,337 | 1,283,174 | SH | | SOLE | | 1,283,174 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 524 | 84,121 | SH | | SOLE | | 84,121 | 0 | 0 |
ALLIANZGI EQUITY & CONV INCO | COM | 018829101 | 254 | 12,846 | SH | | SOLE | | 12,846 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 1,836 | 179,476 | SH | | SOLE | | 179,476 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 16,017 | 2,526,396 | SH | | SOLE | | 2,526,396 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 74,850 | 8,613,359 | SH | | SOLE | | 8,613,359 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 4,746 | 365,081 | SH | | SOLE | | 365,081 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 2,147 | 180,596 | SH | | SOLE | | 180,596 | 0 | 0 |
BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | 1,966 | 141,629 | SH | | SOLE | | 141,629 | 0 | 0 |
BLACKROCK ENH CAP & INC FD I | COM | 09256A109 | 9,504 | 638,278 | SH | | SOLE | | 638,278 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 8,187 | 930,361 | SH | | SOLE | | 930,361 | 0 | 0 |
BLACKROCK ENHANCED GBL DIV T | COM | 092501105 | 53,989 | 4,074,637 | SH | | SOLE | | 4,074,637 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 8,411 | 631,945 | SH | | SOLE | | 631,945 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 24,956 | 3,973,906 | SH | | SOLE | | 3,973,906 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 10,877 | 1,707,470 | SH | | SOLE | | 1,707,470 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 1,000 | 71,200 | SH | | SOLE | | 71,200 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 48,209 | 6,018,573 | SH | | SOLE | | 6,018,573 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 18,522 | 2,399,285 | SH | | SOLE | | 2,399,285 | 0 | 0 |
CENTRAL EUR RUSS & TURK FD I | COM | 153436100 | 7,232 | 330,226 | SH | | SOLE | | 330,226 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 6,128 | 245,801 | SH | | SOLE | | 245,801 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 8,369 | 448,020 | SH | | SOLE | | 448,020 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 12,050 | 1,136,800 | SH | | SOLE | | 1,136,800 | 0 | 0 |
DELAWARE ENHANCED GBL DIV & | COM | 246060107 | 1,533 | 134,501 | SH | | SOLE | | 134,501 | 0 | 0 |
DEUTSCHE MULTI-MKT INCOME TR | SHS | 25160E102 | 2,825 | 320,982 | SH | | SOLE | | 320,982 | 0 | 0 |
DEUTSCHE STRATEGIC INCOME TR | SHS | 25160F109 | 295 | 23,820 | SH | | SOLE | | 23,820 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 563 | 33,924 | SH | | SOLE | | 33,924 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 9,538 | 1,037,868 | SH | | SOLE | | 1,037,868 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 13,862 | 983,128 | SH | | SOLE | | 983,128 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 10,182 | 802,363 | SH | | SOLE | | 802,363 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 13,421 | 1,463,609 | SH | | SOLE | | 1,463,609 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQT | COM SHS | 33740D107 | 24,607 | 1,308,162 | SH | | SOLE | | 1,308,162 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 4,549 | 283,254 | SH | | SOLE | | 283,254 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 7,877 | 555,867 | SH | | SOLE | | 555,867 | 0 | 0 |
FRANKLIN LTD DURATION INC TR | COM | 35472T101 | 4,871 | 411,761 | SH | | SOLE | | 411,761 | 0 | 0 |
GABELLI GLB SML & MD CP VAL | COM | 36249W104 | 363 | 29,377 | SH | | SOLE | | 29,377 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 1,768 | 87,381 | SH | | SOLE | | 87,381 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 9,905 | 288,350 | SH | | SOLE | | 288,350 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 7,729 | 527,564 | SH | | SOLE | | 527,564 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 2,789 | 162,607 | SH | | SOLE | | 162,607 | 0 | 0 |
ISHARES | MSCI AUST ETF | 464286103 | 75,837 | 3,498,002 | SH | | SOLE | | 3,498,002 | 0 | 0 |
ISHARES | MSCI EURZONE ETF | 464286608 | 52,706 | 1,307,030 | SH | | SOLE | | 1,307,030 | 0 | 0 |
ISHARES | MSCI FRANCE ETF | 464286707 | 36,855 | 1,281,474 | SH | | SOLE | | 1,281,474 | 0 | 0 |
ISHARES | MSCI GERMANY ETF | 464286806 | 61,175 | 2,020,976 | SH | | SOLE | | 2,020,976 | 0 | 0 |
ISHARES | MSCI SZ CAP ETF | 464286749 | 17,517 | 510,551 | SH | | SOLE | | 510,551 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 150,618 | 2,807,426 | SH | | SOLE | | 2,807,426 | 0 | 0 |
ISHARES TR | 7-10YR TR BD ETF | 464287440 | 69,807 | 654,790 | SH | | SOLE | | 654,790 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 107,703 | 983,500 | SH | | SOLE | | 983,500 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 53,658 | 502,600 | SH | | SOLE | | 502,600 | 0 | 0 |
ISHARES TR | MSCI UK ETF NEW | 46435G334 | 825 | 24,745 | SH | | SOLE | | 24,745 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 49,308 | 4,295,161 | SH | | SOLE | | 4,295,161 | 0 | 0 |
JPMORGAN CHINA REGION FD INC | COM | 48126T104 | 6,064 | 302,132 | SH | | SOLE | | 302,132 | 0 | 0 |
KOREA EQUITY FD INC | COM | 50063B104 | 4,689 | 666,027 | SH | | SOLE | | 666,027 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 17,408 | 434,777 | SH | | SOLE | | 434,777 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 1,948 | 185,853 | SH | | SOLE | | 185,853 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 12,471 | 762,543 | SH | | SOLE | | 762,543 | 0 | 0 |
LEGG MASON BW GLB INC OPP FD | COM | 52469B100 | 6,776 | 512,139 | SH | | SOLE | | 512,139 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 18,580 | 3,282,756 | SH | | SOLE | | 3,282,756 | 0 | 0 |
LIBERTY ALL-STAR GROWTH FD I | COM | 529900102 | 1,921 | 390,399 | SH | | SOLE | | 390,399 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 2,738 | 192,577 | SH | | SOLE | | 192,577 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 15,454 | 619,136 | SH | | SOLE | | 619,136 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 3,767 | 329,826 | SH | | SOLE | | 329,826 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 11,037 | 1,277,454 | SH | | SOLE | | 1,277,454 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 924 | 184,351 | SH | | SOLE | | 184,351 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 10,368 | 2,399,921 | SH | | SOLE | | 2,399,921 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 14,878 | 2,399,677 | SH | | SOLE | | 2,399,677 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 20,760 | 1,248,343 | SH | | SOLE | | 1,248,343 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 13,466 | 601,946 | SH | | SOLE | | 601,946 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 2,482 | 250,982 | SH | | SOLE | | 250,982 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 10,954 | 678,242 | SH | | SOLE | | 678,242 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 11,958 | 656,305 | SH | | SOLE | | 656,305 | 0 | 0 |
NEUBERGER BERMAN RE ES SEC F | COM | 64190A103 | 2,794 | 517,471 | SH | | SOLE | | 517,471 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 18,971 | 1,140,790 | SH | | SOLE | | 1,140,790 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 2,078 | 150,273 | SH | | SOLE | | 150,273 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 7,536 | 550,458 | SH | | SOLE | | 550,458 | 0 | 0 |
NUVEEN DOW 30 DYN OVERWRITE | SHS | 67075F105 | 2,617 | 158,408 | SH | | SOLE | | 158,408 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 5,622 | 750,589 | SH | | SOLE | | 750,589 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 6,085 | 433,424 | SH | | SOLE | | 433,424 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063C106 | 801 | 58,400 | SH | | SOLE | | 58,400 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063X100 | 79 | 5,408 | SH | | SOLE | | 5,408 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 2,476 | 257,676 | SH | | SOLE | | 257,676 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 1,346 | 155,601 | SH | | SOLE | | 155,601 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 4,811 | 329,717 | SH | | SOLE | | 329,717 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 6,988 | 28,900 | SH | | SOLE | | 28,900 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 5,145 | 698,083 | SH | | SOLE | | 698,083 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 41,115 | 3,237,371 | SH | | SOLE | | 3,237,371 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 6,716 | 339,340 | SH | | SOLE | | 339,340 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 13,413 | 665,019 | SH | | SOLE | | 665,019 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 19,484 | 1,306,760 | SH | | SOLE | | 1,306,760 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 4,321 | 642,991 | SH | | SOLE | | 642,991 | 0 | 0 |
THAI FD INC | COM | 882904105 | 6,549 | 755,337 | SH | | SOLE | | 755,337 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 11,578 | 475,498 | SH | | SOLE | | 475,498 | 0 | 0 |
VIRTUS TOTAL RETURN FUND INC | COM | 92837G100 | 1,317 | 107,630 | SH | | SOLE | | 107,630 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 1,926 | 183,078 | SH | | SOLE | | 183,078 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 21,053 | 2,397,821 | SH | | SOLE | | 2,397,821 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 224 | 20,700 | SH | | SOLE | | 20,700 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 437 | 57,864 | SH | | SOLE | | 57,864 | 0 | 0 |
WELLS FARGO GLOBAL DIVIDEND | COM | 94987C103 | 5,751 | 939,707 | SH | | SOLE | | 939,707 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 31,926 | 2,897,089 | SH | | SOLE | | 2,897,089 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 19,475 | 1,723,474 | SH | | SOLE | | 1,723,474 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 6,298 | 404,480 | SH | | SOLE | | 404,480 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 8,398 | 471,548 | SH | | SOLE | | 471,548 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 787 | 56,287 | SH | | SOLE | | 56,287 | 0 | 0 |