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 AUSTRALIA EQUITY FD | COM | 003011103 | 12,205 | 2,091,640 | SH | | SOLE | | 2,091,640 | 0 | 0 |
ABERDEEN EMRG MRKTS EQT INM | COM | 00301W105 | 35,300 | 4,080,892 | SH | | SOLE | | 4,080,892 | 0 | 0 |
ABERDEEN GLOBAL DYNAMIC DIVI | COM | 00302M106 | 1,498 | 134,450 | SH | | SOLE | | 134,450 | 0 | 0 |
ABERDEEN GLOBAL PREMIER PPTY | COM SH BEN INT | 00302L108 | 1,260 | 211,733 | SH | | SOLE | | 211,733 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 31,217 | 3,460,834 | SH | | SOLE | | 3,460,834 | 0 | 0 |
ABERDEEN TOTAL DYNAMIC DIVD | COM SH BEN INT | 00326L100 | 71,399 | 7,492,028 | SH | | SOLE | | 7,492,028 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 39,278 | 2,151,036 | SH | | SOLE | | 2,151,036 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUN I | COM | 01864U106 | 17,902 | 1,257,179 | SH | | SOLE | | 1,257,179 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 10,569 | 735,971 | SH | | SOLE | | 735,971 | 0 | 0 |
BLACKROCK ENHANCED CAP & INC | COM | 09256A109 | 10,130 | 524,619 | SH | | SOLE | | 524,619 | 0 | 0 |
BLACKROCK ENHANCED EQUITY DI | COM | 09251A104 | 4,448 | 470,186 | SH | | SOLE | | 470,186 | 0 | 0 |
BLACKROCK ENHANCED GLOBAL DI | COM | 092501105 | 42,281 | 3,679,804 | SH | | SOLE | | 3,679,804 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 6,207 | 486,410 | SH | | SOLE | | 486,410 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 36,130 | 5,952,160 | SH | | SOLE | | 5,952,160 | 0 | 0 |
BLACKROCK FLOATING RATE INCO | COM | 091941104 | 10,991 | 878,573 | SH | | SOLE | | 878,573 | 0 | 0 |
BLACKROCK HEALTH SCIENCS TR | COM SHS | 09260E105 | 11,149 | 423,925 | SH | | SOLE | | 423,925 | 0 | 0 |
BLACKROCK MUNI INTER DR FD I | COM | 09253X102 | 7,968 | 529,762 | SH | | SOLE | | 529,762 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 2,175 | 152,191 | SH | | SOLE | | 152,191 | 0 | 0 |
BLACKROCK MUNIHOLDINGS QUALI | COM | 09253N104 | 1,397 | 87,294 | SH | | SOLE | | 87,294 | 0 | 0 |
BLACKROCK MUNIHOLDINGS QUALI | COM | 09254C107 | 3,267 | 243,788 | SH | | SOLE | | 243,788 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 7,986 | 858,739 | SH | | SOLE | | 858,739 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254E103 | 21,876 | 1,534,057 | SH | | SOLE | | 1,534,057 | 0 | 0 |
BLACKROCK NEW YORK MUN INCOM | COM | 09249U105 | 1,510 | 105,013 | SH | | SOLE | | 105,013 | 0 | 0 |
BLACKROCK RES & COMMODITIES | SHS | 09257A108 | 18,944 | 2,135,788 | SH | | SOLE | | 2,135,788 | 0 | 0 |
BLACKROCK SCIENCE & TECH TR | SHS BEN INT | 09260K101 | 22,102 | 619,286 | SH | | SOLE | | 619,286 | 0 | 0 |
BRANDYWINEGBL GBL INCM OPP F | COM | 10537L104 | 459 | 38,100 | SH | | SOLE | | 38,100 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 14,110 | 1,806,698 | SH | | SOLE | | 1,806,698 | 0 | 0 |
CENTRAL & EASTERN EUROPE FD | COM | 153436100 | 7,927 | 329,196 | SH | | SOLE | | 329,196 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 15,430 | 407,004 | SH | | SOLE | | 407,004 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 10,710 | 365,887 | SH | | SOLE | | 365,887 | 0 | 0 |
CLOUGH GLOBAL EQUITY FD | COM | 18914C100 | 1,063 | 69,949 | SH | | SOLE | | 69,949 | 0 | 0 |
CREDIT SUISSE HIGH YIELD BD | SH BEN INT | 22544F103 | 5,271 | 2,186,940 | SH | | SOLE | | 2,186,940 | 0 | 0 |
DNP SELECT INCOME FD INC | COM | 23325P104 | 7,125 | 721,133 | SH | | SOLE | | 721,133 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 6,454 | 449,733 | SH | | SOLE | | 449,733 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 30,967 | 2,658,106 | SH | | SOLE | | 2,658,106 | 0 | 0 |
DWS STRATEGIC MUN INCOME TR | COM | 23342Q101 | 6,346 | 536,472 | SH | | SOLE | | 536,472 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 2,079 | 178,647 | SH | | SOLE | | 178,647 | 0 | 0 |
EATON VANCE LTD DURATION INC | COM | 27828H105 | 30,068 | 2,380,645 | SH | | SOLE | | 2,380,645 | 0 | 0 |
EATON VANCE MUN BD FD | COM | 27827X101 | 9,291 | 698,602 | SH | | SOLE | | 698,602 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 18,197 | 1,321,471 | SH | | SOLE | | 1,321,471 | 0 | 0 |
EATON VANCE NEW YORK MUN BD | COM | 27827Y109 | 1,783 | 146,108 | SH | | SOLE | | 146,108 | 0 | 0 |
EATON VANCE TAX-ADVANTAGED G | COM | 27828U106 | 1,771 | 67,431 | SH | | SOLE | | 67,431 | 0 | 0 |
EATON VANCE TAX-MANAGED GLOB | COM | 27829F108 | 6,447 | 693,199 | SH | | SOLE | | 693,199 | 0 | 0 |
EATON VANCE TX ADV GLBL DIV | COM | 27828S101 | 11,330 | 593,483 | SH | | SOLE | | 593,483 | 0 | 0 |
EUROPEAN EQUITY FD INC | COM | 298768102 | 22,349 | 2,097,608 | SH | | SOLE | | 2,097,608 | 0 | 0 |
FEDERATED HERMES PREM MUNI I | COM | 31423P108 | 3,376 | 232,346 | SH | | SOLE | | 232,346 | 0 | 0 |
FIRST TR / ABERDEEN EMERGING | COM | 33731K102 | 2,051 | 141,352 | SH | | SOLE | | 141,352 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQUI | COM SHS | 33740D107 | 13,267 | 1,044,662 | SH | | SOLE | | 1,044,662 | 0 | 0 |
FIRST TRUST MORTGAGE INCM FD | COM SHS | 33734E103 | 5,532 | 412,076 | SH | | SOLE | | 412,076 | 0 | 0 |
GDL FD | COM SH BEN IT | 361570104 | 1,122 | 125,670 | SH | | SOLE | | 125,670 | 0 | 0 |
GENERAL AMERN INVS CO INC | COM | 368802104 | 32,517 | 816,186 | SH | | SOLE | | 816,186 | 0 | 0 |
GUGGENHEIM ENHANCED EQUITY I | COM | 40167B100 | 3,404 | 472,070 | SH | | SOLE | | 472,070 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 14,576 | 933,748 | SH | | SOLE | | 933,748 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 15,504 | 861,826 | SH | | SOLE | | 861,826 | 0 | 0 |
HANCOCK JOHN INVT TR | TAX ADV GLB SH | 41013P749 | 1,064 | 165,797 | SH | | SOLE | | 165,797 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 2,696 | 125,676 | SH | | SOLE | | 125,676 | 0 | 0 |
ISHARES INC | MSCI AUST ETF | 464286103 | 15,095 | 608,901 | SH | | SOLE | | 608,901 | 0 | 0 |
ISHARES INC | MSCI CDA ETF | 464286509 | 3,306 | 97,100 | SH | | SOLE | | 97,100 | 0 | 0 |
ISHARES INC | MSCI EURZONE ETF | 464286608 | 91,366 | 1,967,816 | SH | | SOLE | | 1,967,816 | 0 | 0 |
ISHARES INC | MSCI SWITZERLAND | 464286749 | 42,445 | 960,080 | SH | | SOLE | | 960,080 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 275,736 | 4,024,175 | SH | | SOLE | | 4,024,175 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 4,986 | 43,800 | SH | | SOLE | | 43,800 | 0 | 0 |
ISHARES TR | MSCI EMG MKT ETF | 464287234 | 1,013 | 19,000 | SH | | SOLE | | 19,000 | 0 | 0 |
ISHARES TR | IBOXX INV CP ETF | 464287242 | 35,830 | 275,510 | SH | | SOLE | | 275,510 | 0 | 0 |
ISHARES TR | BARCLAYS 7 10 YR | 464287440 | 155,363 | 1,375,750 | SH | | SOLE | | 1,375,750 | 0 | 0 |
ISHARES TR | MSCI EAFE ETF | 464287465 | 21,221 | 279,700 | SH | | SOLE | | 279,700 | 0 | 0 |
ISHARES TR | SHRT NAT MUN ETF | 464288158 | 8,378 | 77,700 | SH | | SOLE | | 77,700 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 93,853 | 865,640 | SH | | SOLE | | 865,640 | 0 | 0 |
ISHARES TR | US TREAS BD ETF | 46429B267 | 54,241 | 2,071,075 | SH | | SOLE | | 2,071,075 | 0 | 0 |
JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 48,640 | 5,230,136 | SH | | SOLE | | 5,230,136 | 0 | 0 |
KOREA FD INC | COM NEW | 500634209 | 23,805 | 548,626 | SH | | SOLE | | 548,626 | 0 | 0 |
LAZARD GLOBAL TOTAL RETURN & | COM | 52106W103 | 1,546 | 80,377 | SH | | SOLE | | 80,377 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 766 | 60,323 | SH | | SOLE | | 60,323 | 0 | 0 |
MACQUARIE GLOBAL INFRASTRUCT | COM | 55608D101 | 8,680 | 397,074 | SH | | SOLE | | 397,074 | 0 | 0 |
MEXICO FD INC | COM | 592835102 | 3,683 | 260,290 | SH | | SOLE | | 260,290 | 0 | 0 |
MFS GOVT MKTS INCOME TR | SH BEN INT | 552939100 | 762 | 173,123 | SH | | SOLE | | 173,123 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 19,399 | 5,214,759 | SH | | SOLE | | 5,214,759 | 0 | 0 |
MFS INVT GRADE MUN TR | SH BEN INT | 59318B108 | 1,205 | 122,859 | SH | | SOLE | | 122,859 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 1,950 | 285,889 | SH | | SOLE | | 285,889 | 0 | 0 |
MILLER HOWARD HIGH INC EQTY | COM SHS BEN IN | 600379101 | 2,195 | 228,661 | SH | | SOLE | | 228,661 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 34,191 | 1,516,209 | SH | | SOLE | | 1,516,209 | 0 | 0 |
MORGAN STANLEY EMER MKTS DEB | COM | 61744H105 | 2,161 | 241,142 | SH | | SOLE | | 241,142 | 0 | 0 |
MORGAN STANLEY INDIA INVT FD | COM | 61745C105 | 3,452 | 148,097 | SH | | SOLE | | 148,097 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 29,121 | 1,473,009 | SH | | SOLE | | 1,473,009 | 0 | 0 |
NEW IRELAND FD INC | COM | 645673104 | 9,357 | 829,485 | SH | | SOLE | | 829,485 | 0 | 0 |
NUVEEN AMT-FREE MUN VALUE FD | COM | 670695105 | 17,509 | 1,062,454 | SH | | SOLE | | 1,062,454 | 0 | 0 |
NUVEEN CALIFORNIA MUNI VLU F | COM STK | 67062C107 | 1,767 | 172,897 | SH | | SOLE | | 172,897 | 0 | 0 |
NUVEEN CORE EQUITY ALPHA FD | COM | 67090X107 | 1,150 | 75,607 | SH | | SOLE | | 75,607 | 0 | 0 |
NUVEEN CORPORATE INCM NOVEME | COM | 67077N106 | 4,466 | 476,600 | SH | | SOLE | | 476,600 | 0 | 0 |
NUVEEN DOW 30 DYNAMIC OVERWR | SHS | 67075F105 | 5,531 | 340,385 | SH | | SOLE | | 340,385 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 4,071 | 421,400 | SH | | SOLE | | 421,400 | 0 | 0 |
NUVEEN FLTNG RTE INCM OPP FD | COM SHS | 6706EN100 | 3,526 | 369,600 | SH | | SOLE | | 369,600 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 3,778 | 290,392 | SH | | SOLE | | 290,392 | 0 | 0 |
NUVEEN INT DUR QUAL MUN TRM | COM | 670677103 | 2,186 | 149,143 | SH | | SOLE | | 149,143 | 0 | 0 |
NUVEEN MULTI-MKT INCOME FD | COM | 67075J107 | 8,597 | 1,183,405 | SH | | SOLE | | 1,183,405 | 0 | 0 |
NUVEEN N Y MUN VALUE FD INC | COM | 67062M105 | 158 | 16,181 | SH | | SOLE | | 16,181 | 0 | 0 |
NUVEEN QUALITY MUNCP INCOME | COM | 67066V101 | 1,439 | 95,035 | SH | | SOLE | | 95,035 | 0 | 0 |
NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 | 4,454 | 464,440 | SH | | SOLE | | 464,440 | 0 | 0 |
NUVEEN S&P 500 BUY-WRITE INC | COM | 6706ER101 | 4,244 | 314,840 | SH | | SOLE | | 314,840 | 0 | 0 |
NUVEEN SELECT MAT MUN FD | SH BEN INT | 67061T101 | 4,486 | 420,061 | SH | | SOLE | | 420,061 | 0 | 0 |
PIONEER MUN HIGH INCOME ADVA | COM | 723762100 | 4,719 | 399,198 | SH | | SOLE | | 399,198 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 8,804 | 779,106 | SH | | SOLE | | 779,106 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 5,610 | 309,780 | SH | | SOLE | | 309,780 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 | 2,420 | 14,400 | SH | | SOLE | | 14,400 | 0 | 0 |
SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | 16,508 | 124,300 | SH | | SOLE | | 124,300 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 19,299 | 48,695 | SH | | SOLE | | 48,695 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 11,815 | 1,514,804 | SH | | SOLE | | 1,514,804 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 3,225 | 366,934 | SH | | SOLE | | 366,934 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 18,960 | 671,141 | SH | | SOLE | | 671,141 | 0 | 0 |
TEKLA HEALTHCARE INVS | SH BEN INT | 87911J103 | 1,843 | 75,514 | SH | | SOLE | | 75,514 | 0 | 0 |
TEKLA LIFE SCIENCES INVS | SH BEN INT | 87911K100 | 3,149 | 159,743 | SH | | SOLE | | 159,743 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 6,720 | 285,353 | SH | | SOLE | | 285,353 | 0 | 0 |
TEMPLETON EMERGING MKTS FD | COM | 880191101 | 24,654 | 1,290,776 | SH | | SOLE | | 1,290,776 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 13,024 | 2,452,765 | SH | | SOLE | | 2,452,765 | 0 | 0 |
VIRTUS DIVIDEND INTEREST & P | COM | 92840R101 | 14,863 | 1,078,626 | SH | | SOLE | | 1,078,626 | 0 | 0 |
VOYA ASIA PAC HIGH DIV EQT I | COM | 92912J102 | 1,668 | 179,381 | SH | | SOLE | | 179,381 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 11,996 | 1,499,551 | SH | | SOLE | | 1,499,551 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 1,594 | 166,519 | SH | | SOLE | | 166,519 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 8,207 | 1,439,847 | SH | | SOLE | | 1,439,847 | 0 | 0 |
VOYA INTL HIGH DIV EQTY INM | COM | 92912Y109 | 717 | 128,425 | SH | | SOLE | | 128,425 | 0 | 0 |
WELLS FARGO GLOBAL DIVID OPP | COM | 94987C103 | 1,874 | 356,325 | SH | | SOLE | | 356,325 | 0 | 0 |
WESTERN ASSET / CLAYMORE INF | COM | 95766R104 | 39,125 | 3,217,517 | SH | | SOLE | | 3,217,517 | 0 | 0 |
WESTERN ASSET HIGH INCOME OP | COM | 95766K109 | 1,887 | 371,361 | SH | | SOLE | | 371,361 | 0 | 0 |
WESTERN ASSET INTER MUNI FD | COM | 958435109 | 13,361 | 1,438,263 | SH | | SOLE | | 1,438,263 | 0 | 0 |
WESTERN ASSET MANAGED MUNS F | COM | 95766M105 | 15,351 | 1,181,792 | SH | | SOLE | | 1,181,792 | 0 | 0 |
WESTERN ASSET MUN DEF OPP TR | COM | 95768A109 | 1,305 | 61,740 | SH | | SOLE | | 61,740 | 0 | 0 |
WESTERN ASSET MUN HIGH INCOM | COM | 95766N103 | 648 | 82,940 | SH | | SOLE | | 82,940 | 0 | 0 |
WESTERN ASSET MUN PARTNERS F | COM | 95766P108 | 4,972 | 324,564 | SH | | SOLE | | 324,564 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 18,951 | 1,348,817 | SH | | SOLE | | 1,348,817 | 0 | 0 |