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 INCOME | COM | 003009107 | 7,803 | 2,048,056 | SH | | SOLE | | 2,048,056 | 0 | 0 |
ABERDEEN AUSTRALIA EQUITY FD | COM | 003011103 | 8,293 | 1,855,233 | SH | | SOLE | | 1,855,233 | 0 | 0 |
ABERDEEN EMRG MRKTS EQT INM | COM | 00301W105 | 23,137 | 3,824,273 | SH | | SOLE | | 3,824,273 | 0 | 0 |
ABERDEEN GLOBAL DYNAMIC DIVI | COM | 00302M106 | 1,342 | 150,250 | SH | | SOLE | | 150,250 | 0 | 0 |
ABERDEEN GLOBAL PREMIER PPTY | COM SH BEN INT | 00302L108 | 6,766 | 1,451,965 | SH | | SOLE | | 1,451,965 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 27,641 | 3,566,557 | SH | | SOLE | | 3,566,557 | 0 | 0 |
ABERDEEN TOTAL DYNAMIC DIVD | COM SH BEN INT | 00326L100 | 65,124 | 8,457,661 | SH | | SOLE | | 8,457,661 | 0 | 0 |
ADAM NAT RES FD INC | COM | 00548F105 | 2,316 | 210,049 | SH | | SOLE | | 210,049 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 31,877 | 2,137,962 | SH | | SOLE | | 2,137,962 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUNI | COM | 01864U106 | 16,731 | 1,253,245 | SH | | SOLE | | 1,253,245 | 0 | 0 |
ALLIANZGI DIVIDEND INT & PRM | COM | 01883A107 | 12,812 | 1,145,985 | SH | | SOLE | | 1,145,985 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 6,080 | 461,641 | SH | | SOLE | | 461,641 | 0 | 0 |
BLACKROCK ENH CAP & INC FD I | COM | 09256A109 | 9,573 | 661,583 | SH | | SOLE | | 661,583 | 0 | 0 |
BLACKROCK ENHANCED EQUITY DI | COM | 09251A104 | 8,114 | 1,105,481 | SH | | SOLE | | 1,105,481 | 0 | 0 |
BLACKROCK ENHANCED GLOBAL DI | COM | 092501105 | 38,505 | 4,087,537 | SH | | SOLE | | 4,087,537 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 11,208 | 860,196 | SH | | SOLE | | 860,196 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 39,496 | 7,683,978 | SH | | SOLE | | 7,683,978 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 8,822 | 803,500 | SH | | SOLE | | 803,500 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 9,884 | 716,241 | SH | | SOLE | | 716,241 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 3,400 | 262,984 | SH | | SOLE | | 262,984 | 0 | 0 |
BLACKROCK MUNIHOLDINGS QUALI | COM | 09254C107 | 4,290 | 346,273 | SH | | SOLE | | 346,273 | 0 | 0 |
BLACKROCK MUNIHOLDINGS QUALI | COM | 09254A101 | 2,515 | 207,183 | SH | | SOLE | | 207,183 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 856 | 101,880 | SH | | SOLE | | 101,880 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254E103 | 18,863 | 1,448,768 | SH | | SOLE | | 1,448,768 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254G108 | 1,437 | 112,500 | SH | | SOLE | | 112,500 | 0 | 0 |
BLACKROCK N Y MUN INCOME TR | SH BEN INT | 09248L106 | 3,103 | 229,701 | SH | | SOLE | | 229,701 | 0 | 0 |
BLACKROCK RES & COMMODITIES | SHS | 09257A108 | 33,843 | 5,520,850 | SH | | SOLE | | 5,520,850 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 8,692 | 1,455,973 | SH | | SOLE | | 1,455,973 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 11,569 | 401,007 | SH | | SOLE | | 401,007 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 7,425 | 332,503 | SH | | SOLE | | 332,503 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 3,624 | 254,857 | SH | | SOLE | | 254,857 | 0 | 0 |
DUFF & PHELPS UTIL CORP BD T | COM | 26432K108 | 16,954 | 1,813,313 | SH | | SOLE | | 1,813,313 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 23,991 | 2,221,348 | SH | | SOLE | | 2,221,348 | 0 | 0 |
DWS STRATEGIC MUN INCOME TR | COM | 23342Q101 | 1,593 | 151,670 | SH | | SOLE | | 151,670 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 2,141 | 192,347 | SH | | SOLE | | 192,347 | 0 | 0 |
EATON VANCE LTD DURATION INC | COM | 27828H105 | 25,821 | 2,291,088 | SH | | SOLE | | 2,291,088 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 12,716 | 999,658 | SH | | SOLE | | 999,658 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 13,724 | 1,098,839 | SH | | SOLE | | 1,098,839 | 0 | 0 |
EATON VANCE NATL MUN OPPORTU | COM SHS | 27829L105 | 1,561 | 79,457 | SH | | SOLE | | 79,457 | 0 | 0 |
EATON VANCE NEW YORK MUN BD | COM | 27827Y109 | 1,709 | 146,108 | SH | | SOLE | | 146,108 | 0 | 0 |
EATON VANCE TAX-MANAGED GLOB | COM | 27829F108 | 6,344 | 859,642 | SH | | SOLE | | 859,642 | 0 | 0 |
EATON VANCE TXMGD GL BUYWR O | COM | 27829C105 | 536 | 61,981 | SH | | SOLE | | 61,981 | 0 | 0 |
EUROPEAN EQUITY FD INC | COM | 298768102 | 16,106 | 1,935,779 | SH | | SOLE | | 1,935,779 | 0 | 0 |
FEDERATED HERMES PREM MUNI I | COM | 31423P108 | 3,454 | 261,701 | SH | | SOLE | | 261,701 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQUI | COM SHS | 33740D107 | 6,050 | 585,106 | SH | | SOLE | | 585,106 | 0 | 0 |
FIRST TR/ABERDEEN EMERG OPT | COM | 33731K102 | 1,552 | 131,395 | SH | | SOLE | | 131,395 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 6,267 | 454,488 | SH | | SOLE | | 454,488 | 0 | 0 |
GDL FUND | COM SH BEN IT | 361570104 | 1,097 | 133,336 | SH | | SOLE | | 133,336 | 0 | 0 |
GENERAL AMERN INVS INC | COM | 368802104 | 25,481 | 800,882 | SH | | SOLE | | 800,882 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 13,870 | 960,560 | SH | | SOLE | | 960,560 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 13,049 | 841,308 | SH | | SOLE | | 841,308 | 0 | 0 |
HANCOCK JOHN INVT TR | TAX ADV GLB SH | 41013P749 | 696 | 132,810 | SH | | SOLE | | 132,810 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 2,256 | 145,756 | SH | | SOLE | | 145,756 | 0 | 0 |
ISHARES INC | MSCI AUST ETF | 464286103 | 19,648 | 1,019,611 | SH | | SOLE | | 1,019,611 | 0 | 0 |
ISHARES INC | MSCI EURZONE ETF | 464286608 | 99,098 | 2,716,491 | SH | | SOLE | | 2,716,491 | 0 | 0 |
ISHARES INC | MSCI FRANCE ETF | 464286707 | 37,288 | 1,359,874 | SH | | SOLE | | 1,359,874 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 247,482 | 4,506,228 | SH | | SOLE | | 4,506,228 | 0 | 0 |
ISHARES INC | MSCI SWITZERLAND | 464286749 | 31,872 | 818,080 | SH | | SOLE | | 818,080 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 45,210 | 408,400 | SH | | SOLE | | 408,400 | 0 | 0 |
ISHARES TR | SHRT NAT MUN ETF | 464288158 | 9,512 | 88,186 | SH | | SOLE | | 88,186 | 0 | 0 |
ISHARES TR | US TREAS BD ETF | 46429B267 | 43,305 | 1,547,150 | SH | | SOLE | | 1,547,150 | 0 | 0 |
ISHARES TR | BARCLAYS 7 10 YR | 464287440 | 154,184 | 1,265,150 | SH | | SOLE | | 1,265,150 | 0 | 0 |
JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 44,813 | 5,730,612 | SH | | SOLE | | 5,730,612 | 0 | 0 |
KOREA FD | COM NEW | 500634209 | 13,809 | 534,120 | SH | | SOLE | | 534,120 | 0 | 0 |
LAZARD GLOBAL TOTAL RETURN & | COM | 52106W103 | 4,841 | 343,549 | SH | | SOLE | | 343,549 | 0 | 0 |
LIBERTY ALL STAR EQUITY FD | SH BEN INT | 530158104 | 286 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
MACQUARIE GLOBAL INFRASTRUCT | COM | 55608D101 | 3,723 | 211,391 | SH | | SOLE | | 211,391 | 0 | 0 |
MADISON COVERED CALL & EQUIT | COM | 557437100 | 1,648 | 292,276 | SH | | SOLE | | 292,276 | 0 | 0 |
MEXICO FD INC | COM | 592835102 | 2,405 | 245,278 | SH | | SOLE | | 245,278 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 13,596 | 2,955,700 | SH | | SOLE | | 2,955,700 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 42,780 | 11,562,255 | SH | | SOLE | | 11,562,255 | 0 | 0 |
MFS INVT GRADE MUN TR | SH BEN INT | 59318B108 | 1,190 | 126,097 | SH | | SOLE | | 126,097 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 1,784 | 285,889 | SH | | SOLE | | 285,889 | 0 | 0 |
MILLER HOWARD HIGH INC EQTY | COM SHS BEN IN | 600379101 | 1,226 | 200,943 | SH | | SOLE | | 200,943 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 30,084 | 1,541,984 | SH | | SOLE | | 1,541,984 | 0 | 0 |
MORGAN STANLEY INDIA INVT FD | COM | 61745C105 | 2,803 | 172,596 | SH | | SOLE | | 172,596 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 22,174 | 1,460,711 | SH | | SOLE | | 1,460,711 | 0 | 0 |
NEW IRELAND FD INC | COM | 645673104 | 6,061 | 782,097 | SH | | SOLE | | 782,097 | 0 | 0 |
NUVEEN AMT FREE QLTY MUN INC | COM | 670657105 | 6,398 | 460,296 | SH | | SOLE | | 460,296 | 0 | 0 |
NUVEEN AMT-FREE MUN VALUE FD | COM | 670695105 | 11,745 | 750,483 | SH | | SOLE | | 750,483 | 0 | 0 |
NUVEEN CALIF MUN VALUE FD IN | COM | 67062C107 | 491 | 48,003 | SH | | SOLE | | 48,003 | 0 | 0 |
NUVEEN CALIF MUNICPAL VALUE | COM | 6706EB106 | 826 | 57,267 | SH | | SOLE | | 57,267 | 0 | 0 |
NUVEEN CORE EQUITY ALPHA FD | COM | 67090X107 | 155 | 12,666 | SH | | SOLE | | 12,666 | 0 | 0 |
NUVEEN DOW 30 DYNAMIC OVERWR | SHS | 67075F105 | 4,145 | 304,552 | SH | | SOLE | | 304,552 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 3,170 | 259,834 | SH | | SOLE | | 259,834 | 0 | 0 |
NUVEEN INT DUR QUAL MUN TRM | COM | 670677103 | 2,708 | 190,542 | SH | | SOLE | | 190,542 | 0 | 0 |
NUVEEN MULTI MKT INCOME FD | COM | 67075J107 | 7,856 | 1,138,489 | SH | | SOLE | | 1,138,489 | 0 | 0 |
NUVEEN MUN VALUE FD INC | COM | 670928100 | 5,643 | 553,211 | SH | | SOLE | | 553,211 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 4,125 | 294,235 | SH | | SOLE | | 294,235 | 0 | 0 |
NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 | 3,126 | 418,530 | SH | | SOLE | | 418,530 | 0 | 0 |
NUVEEN S&P 500 BUY-WRITE INC | COM | 6706ER101 | 3,370 | 306,340 | SH | | SOLE | | 306,340 | 0 | 0 |
NUVEEN SELECT MAT MUN FD | SH BEN INT | 67061T101 | 6,821 | 666,590 | SH | | SOLE | | 666,590 | 0 | 0 |
NUVEEN SELECT TAX FREE INCOM | SH BEN INT | 67063C106 | 12,208 | 814,924 | SH | | SOLE | | 814,924 | 0 | 0 |
NUVEEN SELECT TAX FREE INCOM | SH BEN INT | 67063X100 | 6,782 | 418,622 | SH | | SOLE | | 418,622 | 0 | 0 |
NUVEEN SELECT TAX-FREE INCOM | SH BEN INT | 67062F100 | 136 | 8,648 | SH | | SOLE | | 8,648 | 0 | 0 |
PIONEER MUN HIGH INCOME ADVA | COM | 723762100 | 7,212 | 686,214 | SH | | SOLE | | 686,214 | 0 | 0 |
ROYCE GLOBAL VALUE TR INC | COM | 78081T104 | 180 | 15,525 | SH | | SOLE | | 15,525 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 3,373 | 468,489 | SH | | SOLE | | 468,489 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 3,623 | 288,894 | SH | | SOLE | | 288,894 | 0 | 0 |
SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | 11,243 | 107,600 | SH | | SOLE | | 107,600 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 38,801 | 125,830 | SH | | SOLE | | 125,830 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 8,973 | 1,520,794 | SH | | SOLE | | 1,520,794 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 3,082 | 393,089 | SH | | SOLE | | 393,089 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 13,126 | 618,836 | SH | | SOLE | | 618,836 | 0 | 0 |
TEKLA HEALTHCARE INVS | SH BEN INT | 87911J103 | 1,168 | 54,762 | SH | | SOLE | | 54,762 | 0 | 0 |
TEKLA HEALTHCARE OPPORTUNITI | SHS | 879105104 | 2,335 | 131,167 | SH | | SOLE | | 131,167 | 0 | 0 |
TEKLA LIFE SCIENCES INVS | SH BEN INT | 87911K100 | 3,143 | 175,024 | SH | | SOLE | | 175,024 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 16,405 | 812,944 | SH | | SOLE | | 812,944 | 0 | 0 |
TEMPLETON EMERGING MKTS FD | COM | 880191101 | 19,738 | 1,442,831 | SH | | SOLE | | 1,442,831 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 12,039 | 2,241,965 | SH | | SOLE | | 2,241,965 | 0 | 0 |
THE CENTRAL AND EASTERN EU I | COM | 153436100 | 6,916 | 331,211 | SH | | SOLE | | 331,211 | 0 | 0 |
TRI CONTL CORP | COM | 895436103 | 194 | 7,850 | SH | | SOLE | | 7,850 | 0 | 0 |
VOYA ASIA PAC DIVID EQUITY I | COM | 92912J102 | 3,985 | 519,858 | SH | | SOLE | | 519,858 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 9,358 | 1,506,907 | SH | | SOLE | | 1,506,907 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 1,153 | 140,810 | SH | | SOLE | | 140,810 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 2,420 | 500,952 | SH | | SOLE | | 500,952 | 0 | 0 |
VOYA INTL HIGH DIVID EQTY IN | COM | 92912Y109 | 302 | 73,035 | SH | | SOLE | | 73,035 | 0 | 0 |
WESTERN ASSET GLOBAL CP DEFI | COM | 95790C107 | 398 | 24,296 | SH | | SOLE | | 24,296 | 0 | 0 |
WESTERN ASSET INTER MUNI FD | COM | 958435109 | 8,828 | 1,031,268 | SH | | SOLE | | 1,031,268 | 0 | 0 |
WESTERN ASSET MUN DEF OPP TR | COM | 95768A109 | 1,534 | 77,693 | SH | | SOLE | | 77,693 | 0 | 0 |
WESTERN ASSET MUN HIGH INCOM | COM | 95766N103 | 1,379 | 193,741 | SH | | SOLE | | 193,741 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 15,658 | 1,192,512 | SH | | SOLE | | 1,192,512 | 0 | 0 |
WESTERN ASST INFLTN LKD INM | COM SH BEN INT | 95766Q106 | 2,380 | 202,058 | SH | | SOLE | | 202,058 | 0 | 0 |
WESTERN AST INFL LKD OPP & I | COM | 95766R104 | 32,187 | 2,936,753 | SH | | SOLE | | 2,936,753 | 0 | 0 |