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 | 4,453 | 1,052,656 | SH | | SOLE | | 1,052,656 | 0 | 0 |
ABERDEEN AUSTRALIA EQTY FD I | COM | 003011103 | 5,281 | 974,405 | SH | | SOLE | | 974,405 | 0 | 0 |
ABERDEEN EMRG MRKTS EQT INM | COM | 00301W105 | 30,940 | 4,255,806 | SH | | SOLE | | 4,255,806 | 0 | 0 |
ABERDEEN GLOBAL DYNAMIC DIVI | COM | 00302M106 | 1,403 | 148,178 | SH | | SOLE | | 148,178 | 0 | 0 |
ABERDEEN GLOBAL PREMIER PPTY | COM SH BEN INT | 00302L108 | 10,357 | 1,723,245 | SH | | SOLE | | 1,723,245 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 20,585 | 2,951,230 | SH | | SOLE | | 2,951,230 | 0 | 0 |
ABERDEEN TOTAL DYNAMIC DIVD | COM SH BEN INT | 00326L100 | 71,926 | 8,718,334 | SH | | SOLE | | 8,718,334 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 2,808 | 167,449 | SH | | SOLE | | 167,449 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 31,733 | 2,197,589 | SH | | SOLE | | 2,197,589 | 0 | 0 |
ALLIANCEBERNSTEIN GBL HGH IN | COM | 01879R106 | 6,393 | 551,606 | SH | | SOLE | | 551,606 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 9,403 | 726,068 | SH | | SOLE | | 726,068 | 0 | 0 |
ALLIANZGI NFJ DIVID INT & PR | COM | 01883A107 | 11,429 | 947,699 | SH | | SOLE | | 947,699 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 2,061 | 160,651 | SH | | SOLE | | 160,651 | 0 | 0 |
BLACKROCK CORE BD TR | SHS BEN INT | 09249E101 | 10,061 | 748,000 | SH | | SOLE | | 748,000 | 0 | 0 |
BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 13,693 | 1,103,384 | SH | | SOLE | | 1,103,384 | 0 | 0 |
BLACKROCK ENH CAP & INC FD I | COM | 09256A109 | 10,272 | 651,343 | SH | | SOLE | | 651,343 | 0 | 0 |
BLACKROCK ENHANCED EQT DIV T | COM | 09251A104 | 13,956 | 1,632,315 | SH | | SOLE | | 1,632,315 | 0 | 0 |
BLACKROCK ENHANCED GBL DIV T | COM | 092501105 | 39,661 | 3,706,639 | SH | | SOLE | | 3,706,639 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 10,469 | 798,542 | SH | | SOLE | | 798,542 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 28,136 | 5,060,470 | SH | | SOLE | | 5,060,470 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 9,111 | 746,179 | SH | | SOLE | | 746,179 | 0 | 0 |
BLACKROCK INCOME TR INC | COM | 09247F100 | 11,312 | 1,901,236 | SH | | SOLE | | 1,901,236 | 0 | 0 |
BLACKROCK MUN INCOME TR | SH BEN INT | 09248F109 | 1,508 | 111,863 | SH | | SOLE | | 111,863 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 10,000 | 726,194 | SH | | SOLE | | 726,194 | 0 | 0 |
BLACKROCK MUNIHLDNGS QLTY II | COM | 09254C107 | 2,705 | 219,956 | SH | | SOLE | | 219,956 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 1,317 | 102,000 | SH | | SOLE | | 102,000 | 0 | 0 |
BLACKROCK MUNIHOLDNGS QLTY I | COM | 09254A101 | 1,373 | 113,367 | SH | | SOLE | | 113,367 | 0 | 0 |
BLACKROCK MUNIY QUALITY FD I | COM | 09254G108 | 624 | 50,700 | SH | | SOLE | | 50,700 | 0 | 0 |
BLACKROCK MUNIYIELD QLTY FD | COM | 09254E103 | 8,652 | 669,149 | SH | | SOLE | | 669,149 | 0 | 0 |
BLACKROCK N Y MUN INCOME TR | SH BEN INT | 09248L106 | 2,787 | 213,546 | SH | | SOLE | | 213,546 | 0 | 0 |
BLACKROCK RES & COMM STRAT T | SHS | 09257A108 | 43,391 | 5,311,052 | SH | | SOLE | | 5,311,052 | 0 | 0 |
BRANDYWINEGBL GLBAL INM OPRT | COM | 10537L104 | 5,623 | 504,739 | SH | | SOLE | | 504,739 | 0 | 0 |
BROOKFIELD GLOBL LISTED INFR | COM SHS | 11273Q109 | 308 | 25,034 | SH | | SOLE | | 25,034 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 17,436 | 2,334,202 | SH | | SOLE | | 2,334,202 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 10,242 | 357,501 | SH | | SOLE | | 357,501 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 5,223 | 256,292 | SH | | SOLE | | 256,292 | 0 | 0 |
DELAWARE ENHANCED GBL DIV & | COM | 246060107 | 575 | 59,493 | SH | | SOLE | | 59,493 | 0 | 0 |
DREYFUS MUN INCOME INC | COM | 26201R102 | 1,706 | 202,880 | SH | | SOLE | | 202,880 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 3,319 | 250,857 | SH | | SOLE | | 250,857 | 0 | 0 |
DUFF & PHELPS GLB UTL INC FD | COM | 26433C105 | 197 | 13,200 | SH | | SOLE | | 13,200 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 12,855 | 1,494,751 | SH | | SOLE | | 1,494,751 | 0 | 0 |
DWS MUN INCOME TR NEW | COM | 233368109 | 9,444 | 857,005 | SH | | SOLE | | 857,005 | 0 | 0 |
DWS STRATEGIC MUN INCOME TR | COM | 23342Q101 | 1,611 | 143,619 | SH | | SOLE | | 143,619 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 1,806 | 171,207 | SH | | SOLE | | 171,207 | 0 | 0 |
EATON VANCE LTD DUR INCOME F | COM | 27828H105 | 28,651 | 2,264,878 | SH | | SOLE | | 2,264,878 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 16,122 | 1,300,194 | SH | | SOLE | | 1,300,194 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 9,989 | 818,778 | SH | | SOLE | | 818,778 | 0 | 0 |
EATON VANCE NEW YORK MUN BD | COM | 27827Y109 | 1,667 | 141,908 | SH | | SOLE | | 141,908 | 0 | 0 |
EATON VANCE SH TM DR DIVR IN | COM | 27828V104 | 14,026 | 1,081,416 | SH | | SOLE | | 1,081,416 | 0 | 0 |
EUROPEAN EQUITY FUND | COM | 298768102 | 14,721 | 1,690,794 | SH | | SOLE | | 1,690,794 | 0 | 0 |
FEDERATED PREM MUN INC FD | COM | 31423P108 | 2,546 | 189,575 | SH | | SOLE | | 189,575 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQT | COM SHS | 33740D107 | 12,782 | 891,334 | SH | | SOLE | | 891,334 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 2,881 | 214,166 | SH | | SOLE | | 214,166 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 7,515 | 555,585 | SH | | SOLE | | 555,585 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 21,546 | 646,822 | SH | | SOLE | | 646,822 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 11,391 | 803,322 | SH | | SOLE | | 803,322 | 0 | 0 |
HANCOCK JOHN INV TRUST | TAX ADV GLB SH | 41013P749 | 56 | 8,107 | SH | | SOLE | | 8,107 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 11,736 | 744,206 | SH | | SOLE | | 744,206 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 2,298 | 107,556 | SH | | SOLE | | 107,556 | 0 | 0 |
INVESCO BD FD | COM | 46132L107 | 6,295 | 342,286 | SH | | SOLE | | 342,286 | 0 | 0 |
ISHARES INC | MSCI AUST ETF | 464286103 | 82,043 | 3,812,402 | SH | | SOLE | | 3,812,402 | 0 | 0 |
ISHARES INC | MSCI EURZONE ETF | 464286608 | 76,771 | 1,988,880 | SH | | SOLE | | 1,988,880 | 0 | 0 |
ISHARES INC | MSCI FRANCE ETF | 464286707 | 50,720 | 1,721,074 | SH | | SOLE | | 1,721,074 | 0 | 0 |
ISHARES INC | MSCI GERMANY ETF | 464286806 | 50,135 | 1,862,376 | SH | | SOLE | | 1,862,376 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 236,274 | 4,317,878 | SH | | SOLE | | 4,317,878 | 0 | 0 |
ISHARES INC | MSCI SWITZERLAND | 464286749 | 22,200 | 627,651 | SH | | SOLE | | 627,651 | 0 | 0 |
ISHARES TR | BARCLAYS 7 10 YR | 464287440 | 19,873 | 186,300 | SH | | SOLE | | 186,300 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 12,189 | 114,600 | SH | | SOLE | | 114,600 | 0 | 0 |
ISHARES TR | SHRT NAT MUN ETF | 464288158 | 8,851 | 83,500 | SH | | SOLE | | 83,500 | 0 | 0 |
JAPAN SMALLER CAPTLZTN FD IN | COM | 47109U104 | 45,861 | 5,229,251 | SH | | SOLE | | 5,229,251 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 14,016 | 476,483 | SH | | SOLE | | 476,483 | 0 | 0 |
LAZARD GLB TTL RET&INCM FD I | COM | 52106W103 | 4,323 | 279,797 | SH | | SOLE | | 279,797 | 0 | 0 |
LAZARD WORLD DIVID & INCOME | COM | 521076109 | 602 | 60,702 | SH | | SOLE | | 60,702 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 28,164 | 4,609,487 | SH | | SOLE | | 4,609,487 | 0 | 0 |
LIBERTY ALL-STAR GROWTH FD I | COM | 529900102 | 922 | 165,854 | SH | | SOLE | | 165,854 | 0 | 0 |
MACQUARIE GLBL INFRA TOTL RE | COM | 55608D101 | 13,055 | 588,342 | SH | | SOLE | | 588,342 | 0 | 0 |
MEXICO EQUITY & INCOME FD | COM | 592834105 | 2,441 | 229,873 | SH | | SOLE | | 229,873 | 0 | 0 |
MEXICO FD INC | COM | 592835102 | 3,460 | 250,029 | SH | | SOLE | | 250,029 | 0 | 0 |
MFS CHARTER INCOME TR | SH BEN INT | 552727109 | 11,798 | 1,493,359 | SH | | SOLE | | 1,493,359 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 16,286 | 3,627,090 | SH | | SOLE | | 3,627,090 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 42,144 | 11,090,657 | SH | | SOLE | | 11,090,657 | 0 | 0 |
MFS INVT GRADE MUN TR | SH BEN INT | 59318B108 | 854 | 90,996 | SH | | SOLE | | 90,996 | 0 | 0 |
MFS MULTIMARKET INCOME TR | SH BEN INT | 552737108 | 5,696 | 1,002,773 | SH | | SOLE | | 1,002,773 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 2,407 | 347,900 | SH | | SOLE | | 347,900 | 0 | 0 |
MORGAN STANLEY ASIA PAC FD I | COM | 61744U106 | 19,751 | 1,208,036 | SH | | SOLE | | 1,208,036 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 32,215 | 1,380,268 | SH | | SOLE | | 1,380,268 | 0 | 0 |
MORGAN STANLEY INDIA INVS FD | COM | 61745C105 | 1,954 | 93,484 | SH | | SOLE | | 93,484 | 0 | 0 |
NEUBERGER BERMAN MUNI FD INC | COM | 64124P101 | 2,414 | 168,197 | SH | | SOLE | | 168,197 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 16,949 | 1,212,395 | SH | | SOLE | | 1,212,395 | 0 | 0 |
NEW IRELAND FUND INC | COM | 645673104 | 5,403 | 599,624 | SH | | SOLE | | 599,624 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 12,393 | 927,600 | SH | | SOLE | | 927,600 | 0 | 0 |
NUVEEN AMT-FREE MUN VALUE FD | COM | 670695105 | 4,596 | 287,783 | SH | | SOLE | | 287,783 | 0 | 0 |
NUVEEN CALIF MUN VALUE FD | COM | 67062C107 | 3,140 | 328,439 | SH | | SOLE | | 328,439 | 0 | 0 |
NUVEEN ENHANCED MUN VALUE FD | COM | 67074M101 | 1,711 | 124,000 | SH | | SOLE | | 124,000 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 1,891 | 158,609 | SH | | SOLE | | 158,609 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 6,881 | 972,915 | SH | | SOLE | | 972,915 | 0 | 0 |
NUVEEN MUN INCOME FD INC | COM | 67062J102 | 1,539 | 141,151 | SH | | SOLE | | 141,151 | 0 | 0 |
NUVEEN MUN VALUE FD INC | COM | 670928100 | 12,018 | 1,201,800 | SH | | SOLE | | 1,201,800 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 9,131 | 672,864 | SH | | SOLE | | 672,864 | 0 | 0 |
NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 | 3,746 | 361,610 | SH | | SOLE | | 361,610 | 0 | 0 |
NUVEEN SELECT MAT MUN FD | SH BEN INT | 67061T101 | 4,705 | 472,382 | SH | | SOLE | | 472,382 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67062F100 | 3,034 | 207,238 | SH | | SOLE | | 207,238 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063C106 | 10,922 | 784,055 | SH | | SOLE | | 784,055 | 0 | 0 |
NUVEEN SELECT TAX FREE INCM | SH BEN INT | 67063X100 | 5,988 | 406,547 | SH | | SOLE | | 406,547 | 0 | 0 |
NUVEEN TEXAS QLTY MUN INCME | COM | 670983105 | 2,859 | 214,030 | SH | | SOLE | | 214,030 | 0 | 0 |
NUVEEN VIRGINIA QLTY MUNCPL | COM | 67064R102 | 1,907 | 150,154 | SH | | SOLE | | 150,154 | 0 | 0 |
PGIM GLOBAL HIGH YIELD FD IN | COM | 69346J106 | 7,241 | 519,417 | SH | | SOLE | | 519,417 | 0 | 0 |
PGIM HIGH YIELD BOND FUND IN | COM | 69346H100 | 10,355 | 730,283 | SH | | SOLE | | 730,283 | 0 | 0 |
PUTNAM MASTER INTER INCOME T | SH BEN INT | 746909100 | 7,904 | 1,740,934 | SH | | SOLE | | 1,740,934 | 0 | 0 |
PUTNAM MUN OPPORTUNITIES TR | SH BEN INT | 746922103 | 1,394 | 113,700 | SH | | SOLE | | 113,700 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 2,395 | 238,107 | SH | | SOLE | | 238,107 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 1,825 | 132,650 | SH | | SOLE | | 132,650 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | 3,042 | 40,550 | SH | | SOLE | | 40,550 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 36,015 | 127,495 | SH | | SOLE | | 127,495 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 9,067 | 1,323,695 | SH | | SOLE | | 1,323,695 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 2,800 | 367,511 | SH | | SOLE | | 367,511 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 7,738 | 432,052 | SH | | SOLE | | 432,052 | 0 | 0 |
TEKLA HEALTHCARE OPPORTUNIT | SHS | 879105104 | 1,956 | 111,012 | SH | | SOLE | | 111,012 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 13,641 | 686,178 | SH | | SOLE | | 686,178 | 0 | 0 |
TEMPLETON EMERGING MKTS FD I | COM | 880191101 | 19,398 | 1,303,662 | SH | | SOLE | | 1,303,662 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 5,461 | 866,876 | SH | | SOLE | | 866,876 | 0 | 0 |
THE CENTRAL AND EASTERN EU I | COM | 153436100 | 7,696 | 319,983 | SH | | SOLE | | 319,983 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 5,276 | 200,610 | SH | | SOLE | | 200,610 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 2,528 | 270,095 | SH | | SOLE | | 270,095 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 13,525 | 1,701,292 | SH | | SOLE | | 1,701,292 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 1,097 | 101,685 | SH | | SOLE | | 101,685 | 0 | 0 |
WESTERN ASSET EMRG MKT DEBT | COM | 95766A101 | 5,852 | 429,000 | SH | | SOLE | | 429,000 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 4,675 | 284,052 | SH | | SOLE | | 284,052 | 0 | 0 |
WESTERN ASSET HIGH INCM FD I | COM | 95766J102 | 2,477 | 382,200 | SH | | SOLE | | 382,200 | 0 | 0 |
WESTERN ASSET HIGH INCM OPP | COM | 95766K109 | 1,233 | 255,300 | SH | | SOLE | | 255,300 | 0 | 0 |
WESTERN ASSET INTM MUNI FD I | COM | 958435109 | 3,716 | 421,800 | SH | | SOLE | | 421,800 | 0 | 0 |
WESTERN ASSET INVT GRADE DEF | COM | 95790A101 | 287 | 14,300 | SH | | SOLE | | 14,300 | 0 | 0 |
WESTERN ASSET MUN HI INCM FD | COM | 95766N103 | 446 | 60,318 | SH | | SOLE | | 60,318 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 13,809 | 1,055,756 | SH | | SOLE | | 1,055,756 | 0 | 0 |
WESTERN ASST INFLTN LKD INM | COM SH BEN INT | 95766Q106 | 18,648 | 1,663,513 | SH | | SOLE | | 1,663,513 | 0 | 0 |
WESTERN AST INFL LKD OPP & I | COM | 95766R104 | 29,872 | 2,783,953 | SH | | SOLE | | 2,783,953 | 0 | 0 |