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 | 747 | 157,663 | SH | | SOLE | | 157,663 | 0 | 0 |
ABERDEEN AUSTRALIA EQTY FD I | COM | 003011103 | 6,006 | 994,340 | SH | | SOLE | | 994,340 | 0 | 0 |
ABERDEEN CHILE FD INC | COM | 00301W105 | 3,949 | 437,122 | SH | | SOLE | | 437,122 | 0 | 0 |
ABERDEEN EMERGING MKTS SMALL | COM | 00301T102 | 4,164 | 281,250 | SH | | SOLE | | 281,250 | 0 | 0 |
ABERDEEN GTR CHINA FD INC | COM | 003031101 | 2,244 | 166,496 | SH | | SOLE | | 166,496 | 0 | 0 |
ABERDEEN INDONESIA FD INC | COM | 00305P106 | 2,063 | 282,963 | SH | | SOLE | | 282,963 | 0 | 0 |
ABERDEEN ISRAEL FUND INC | COM | 00301L109 | 8,613 | 442,131 | SH | | SOLE | | 442,131 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 22,806 | 2,489,744 | SH | | SOLE | | 2,489,744 | 0 | 0 |
ABERDEEN LATIN AMER EQTY FD | COM | 00306K106 | 11,062 | 404,008 | SH | | SOLE | | 404,008 | 0 | 0 |
ABERDEEN SINGAPORE FD INC | COM | 003244100 | 18,668 | 1,407,849 | SH | | SOLE | | 1,407,849 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 1,862 | 102,263 | SH | | SOLE | | 102,263 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 24,236 | 1,640,864 | SH | | SOLE | | 1,640,864 | 0 | 0 |
ADVENT CLAY CONV SEC INC FD | COM | 007639107 | 280 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 3,180 | 254,200 | SH | | SOLE | | 254,200 | 0 | 0 |
ALPINE GLOBAL DYNAMIC DIVD F | COM NEW | 02082E205 | 1,580 | 150,478 | SH | | SOLE | | 150,478 | 0 | 0 |
ALPINE GLOBAL PREMIER PPTYS | COM SBI | 02083A103 | 13,434 | 2,152,896 | SH | | SOLE | | 2,152,896 | 0 | 0 |
ALPINE TOTAL DYNAMIC DIVID F | COM SH BEN INT N | 021060207 | 72,022 | 8,056,119 | SH | | SOLE | | 8,056,119 | 0 | 0 |
ASIA PAC FD INC | COM | 044901106 | 5,448 | 368,081 | SH | | SOLE | | 368,081 | 0 | 0 |
ASIA TIGERS FD INC | COM | 04516T105 | 3,121 | 248,123 | SH | | SOLE | | 248,123 | 0 | 0 |
BLACKROCK ENH CAP & INC FD I | COM | 09256A109 | 9,830 | 624,120 | SH | | SOLE | | 624,120 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 6,173 | 707,076 | SH | | SOLE | | 707,076 | 0 | 0 |
BLACKROCK ENHANCED GBL DIV T | COM | 092501105 | 35,388 | 3,058,603 | SH | | SOLE | | 3,058,603 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 9,253 | 710,139 | SH | | SOLE | | 710,139 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 22,789 | 3,742,007 | SH | | SOLE | | 3,742,007 | 0 | 0 |
BLACKROCK HEALTH SCIENCES TR | COM | 09250W107 | 469 | 13,405 | SH | | SOLE | | 13,405 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 9,915 | 1,689,035 | SH | | SOLE | | 1,689,035 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 3,566 | 272,004 | SH | | SOLE | | 272,004 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 48,058 | 5,411,939 | SH | | SOLE | | 5,411,939 | 0 | 0 |
BRANDYWINEGBL GLBAL INM OPRT | COM | 10537L104 | 6,622 | 513,739 | SH | | SOLE | | 513,739 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 16,191 | 2,214,957 | SH | | SOLE | | 2,214,957 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 7,358 | 276,001 | SH | | SOLE | | 276,001 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 9,604 | 433,776 | SH | | SOLE | | 433,776 | 0 | 0 |
CLOUGH GLOBAL OPPORTUNITIES | SH BEN INT | 18914E106 | 4,289 | 400,881 | SH | | SOLE | | 400,881 | 0 | 0 |
DELAWARE ENHANCED GBL DIV & | COM | 246060107 | 1,355 | 117,201 | SH | | SOLE | | 117,201 | 0 | 0 |
DEUTSCHE MULTI-MKT INCOME TR | SHS | 25160E102 | 3,043 | 346,542 | SH | | SOLE | | 346,542 | 0 | 0 |
DEUTSCHE MUN INCOME | COM | 25160C106 | 1,448 | 129,300 | SH | | SOLE | | 129,300 | 0 | 0 |
DEUTSCHE STRATEGIC INCOME TR | SHS | 25160F109 | 581 | 47,340 | SH | | SOLE | | 47,340 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 9,496 | 1,106,727 | SH | | SOLE | | 1,106,727 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 12,653 | 971,817 | SH | | SOLE | | 971,817 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 9,220 | 780,063 | SH | | SOLE | | 780,063 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 3,245 | 277,100 | SH | | SOLE | | 277,100 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 13,297 | 1,375,132 | SH | | SOLE | | 1,375,132 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQT | COM SHS | 33740D107 | 6,369 | 354,227 | SH | | SOLE | | 354,227 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 3,368 | 211,801 | SH | | SOLE | | 211,801 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 7,361 | 527,701 | SH | | SOLE | | 527,701 | 0 | 0 |
GABELLI EQUITY TR INC | COM | 362397101 | 3,875 | 633,105 | SH | | SOLE | | 633,105 | 0 | 0 |
GABELLI GLOBL UTIL & INCOME | COM SH BEN INT | 36242L105 | 1,337 | 71,856 | SH | | SOLE | | 71,856 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 14,388 | 429,888 | SH | | SOLE | | 429,888 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 5,983 | 423,096 | SH | | SOLE | | 423,096 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 2,238 | 134,664 | SH | | SOLE | | 134,664 | 0 | 0 |
ISHARES INC | MSCI AUST ETF | 464286103 | 87,201 | 3,960,102 | SH | | SOLE | | 3,960,102 | 0 | 0 |
ISHARES INC | MSCI EURZONE ETF | 464286608 | 87,169 | 2,010,830 | SH | | SOLE | | 2,010,830 | 0 | 0 |
ISHARES INC | MSCI FRANCE ETF | 464286707 | 54,073 | 1,722,074 | SH | | SOLE | | 1,722,074 | 0 | 0 |
ISHARES INC | MSCI SWITZERLAND | 464286749 | 16,874 | 490,951 | SH | | SOLE | | 490,951 | 0 | 0 |
ISHARES INC | MSCI GERMANY ETF | 464286806 | 77,655 | 2,423,676 | SH | | SOLE | | 2,423,676 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 216,547 | 3,568,678 | SH | | SOLE | | 3,568,678 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 103,038 | 960,725 | SH | | SOLE | | 960,725 | 0 | 0 |
ISHARES TR | BARCLAYS 7 10 YR | 464287440 | 68,536 | 664,175 | SH | | SOLE | | 664,175 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 50,031 | 478,125 | SH | | SOLE | | 478,125 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 51,522 | 4,192,179 | SH | | SOLE | | 4,192,179 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 18,781 | 460,099 | SH | | SOLE | | 460,099 | 0 | 0 |
LATIN AMERN DISCOVERY FD INC | COM | 51828C106 | 2,365 | 192,911 | SH | | SOLE | | 192,911 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 11,467 | 643,516 | SH | | SOLE | | 643,516 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 23,509 | 3,835,089 | SH | | SOLE | | 3,835,089 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 11,646 | 524,579 | SH | | SOLE | | 524,579 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 2,907 | 265,213 | SH | | SOLE | | 265,213 | 0 | 0 |
MEXICO FD INC | COM | 592835102 | 2,810 | 173,320 | SH | | SOLE | | 173,320 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 9,210 | 1,134,201 | SH | | SOLE | | 1,134,201 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 3,293 | 711,151 | SH | | SOLE | | 711,151 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 17,214 | 4,380,129 | SH | | SOLE | | 4,380,129 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 7,002 | 1,213,572 | SH | | SOLE | | 1,213,572 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 21,493 | 1,180,294 | SH | | SOLE | | 1,180,294 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 27,648 | 1,110,349 | SH | | SOLE | | 1,110,349 | 0 | 0 |
MORGAN STANLEY EMER MKTS FD | COM | 61744G107 | 15,083 | 818,435 | SH | | SOLE | | 818,435 | 0 | 0 |
MORGAN STANLEY TRUSTS | INCOME SECS INC | 61745P874 | 11,878 | 630,820 | SH | | SOLE | | 630,820 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 20,820 | 1,066,032 | SH | | SOLE | | 1,066,032 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 3,782 | 313,838 | SH | | SOLE | | 313,838 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 7,198 | 553,658 | SH | | SOLE | | 553,658 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 5,064 | 702,389 | SH | | SOLE | | 702,389 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 5,670 | 431,524 | SH | | SOLE | | 431,524 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67062F100 | 379 | 27,013 | SH | | SOLE | | 27,013 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063C106 | 1,244 | 92,343 | SH | | SOLE | | 92,343 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063X100 | 800 | 56,217 | SH | | SOLE | | 56,217 | 0 | 0 |
PRUDENTIAL GLB SHT DUR HG YL | COM | 74433A109 | 3,018 | 217,400 | SH | | SOLE | | 217,400 | 0 | 0 |
PRUDENTIAL SHT DURATION HG Y | COM | 74442F107 | 3,947 | 279,319 | SH | | SOLE | | 279,319 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 2,468 | 224,976 | SH | | SOLE | | 224,976 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 1,637 | 174,919 | SH | | SOLE | | 174,919 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 658 | 42,317 | SH | | SOLE | | 42,317 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | 1,317 | 16,175 | SH | | SOLE | | 16,175 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | 1,185 | 15,950 | SH | | SOLE | | 15,950 | 0 | 0 |
SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | 1,952 | 29,845 | SH | | SOLE | | 29,845 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 21,516 | 81,765 | SH | | SOLE | | 81,765 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 7,370 | 946,107 | SH | | SOLE | | 946,107 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 33,615 | 2,744,094 | SH | | SOLE | | 2,744,094 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 7,787 | 368,175 | SH | | SOLE | | 368,175 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 14,578 | 655,479 | SH | | SOLE | | 655,479 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 21,271 | 1,306,599 | SH | | SOLE | | 1,306,599 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 4,015 | 628,309 | SH | | SOLE | | 628,309 | 0 | 0 |
THE CENTRAL AND EASTERN EU I | COM | 153436100 | 8,051 | 314,119 | SH | | SOLE | | 314,119 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 7,687 | 292,161 | SH | | SOLE | | 292,161 | 0 | 0 |
VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 | 30,605 | 526,308 | SH | | SOLE | | 526,308 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 2,093 | 195,059 | SH | | SOLE | | 195,059 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 16,201 | 1,687,557 | SH | | SOLE | | 1,687,557 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 229 | 21,000 | SH | | SOLE | | 21,000 | 0 | 0 |
WELLS FARGO GLOBAL DIVIDEND | COM | 94987C103 | 3,673 | 645,514 | SH | | SOLE | | 645,514 | 0 | 0 |
WESTERN ASSET CLYM INFL OPP | COM | 95766R104 | 30,347 | 2,680,812 | SH | | SOLE | | 2,680,812 | 0 | 0 |
WESTERN ASSET CLYM INFL SEC | COM SH BEN INT | 95766Q106 | 19,029 | 1,650,374 | SH | | SOLE | | 1,650,374 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 5,912 | 406,880 | SH | | SOLE | | 406,880 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 3,848 | 230,019 | SH | | SOLE | | 230,019 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 2,585 | 394,000 | SH | | SOLE | | 394,000 | 0 | 0 |
WESTERN ASSET HIGH INCM OPP | COM | 95766K109 | 1,436 | 298,600 | SH | | SOLE | | 298,600 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 6,294 | 486,745 | SH | | SOLE | | 486,745 | 0 | 0 |