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 | 6,958 | 1,181,304 | SH | | SOLE | | 1,181,304 | 0 | 0 |
ABERDEEN EMRG MRKTS EQT INM | COM | 00301W105 | 31,865 | 3,829,957 | SH | | SOLE | | 3,829,957 | 0 | 0 |
ABERDEEN GLOBAL DYNAMIC DIVI | COM | 00302M106 | 984 | 84,714 | SH | | SOLE | | 84,714 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 31,280 | 3,208,190 | SH | | SOLE | | 3,208,190 | 0 | 0 |
ABERDEEN TOTAL DYNAMIC DIVD | COM SH BEN INT | 00326L100 | 60,701 | 6,232,164 | SH | | SOLE | | 6,232,164 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 41,587 | 2,100,336 | SH | | SOLE | | 2,100,336 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUN I | COM | 01864U106 | 10,795 | 722,577 | SH | | SOLE | | 722,577 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 10,959 | 742,971 | SH | | SOLE | | 742,971 | 0 | 0 |
BLACKROCK ENHANCD CAP & INM | COM | 09256A109 | 4,778 | 236,543 | SH | | SOLE | | 236,543 | 0 | 0 |
BLACKROCK ENHANCED GLOBAL DI | COM | 092501105 | 32,016 | 2,734,066 | SH | | SOLE | | 2,734,066 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 6,518 | 516,896 | SH | | SOLE | | 516,896 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 27,361 | 4,449,013 | SH | | SOLE | | 4,449,013 | 0 | 0 |
BLACKROCK GLOBAL FLOATING RA | COM | 091941104 | 2,835 | 213,473 | SH | | SOLE | | 213,473 | 0 | 0 |
BLACKROCK HEALTH SCIENCS TR | COM SHS | 09260E105 | 6,035 | 223,667 | SH | | SOLE | | 223,667 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 1,482 | 102,057 | SH | | SOLE | | 102,057 | 0 | 0 |
BLACKROCK MUNIHOLDINGS FD IN | COM | 09253N104 | 971 | 59,289 | SH | | SOLE | | 59,289 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 8,230 | 869,039 | SH | | SOLE | | 869,039 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254E103 | 14,274 | 972,348 | SH | | SOLE | | 972,348 | 0 | 0 |
BLACKROCK RES & COMMODITIES | SHS | 09257A108 | 4,543 | 508,777 | SH | | SOLE | | 508,777 | 0 | 0 |
BLACKROCK SCIENCE & TECHNOLO | SHS | 09258G104 | 1,695 | 32,500 | SH | | SOLE | | 32,500 | 0 | 0 |
BLACKROCK SCIENCE & TECHNOLO | SHS BEN INT | 09260K101 | 20,633 | 534,817 | SH | | SOLE | | 534,817 | 0 | 0 |
CBRE CLARION GLOBAL REAL EST | COM | 12504G100 | 7,307 | 874,004 | SH | | SOLE | | 874,004 | 0 | 0 |
CENTRAL & EASTERN EUROPE FD | COM | 153436100 | 8,704 | 301,490 | SH | | SOLE | | 301,490 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 16,790 | 397,404 | SH | | SOLE | | 397,404 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 8,287 | 325,878 | SH | | SOLE | | 325,878 | 0 | 0 |
CREDIT SUISSE HIGH YIELD BD | SH BEN INT | 22544F103 | 5,510 | 2,230,840 | SH | | SOLE | | 2,230,840 | 0 | 0 |
CUSHING MLP & INFRASTRUCT | COM NEW | 231631300 | 1,344 | 42,281 | SH | | SOLE | | 42,281 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 6,521 | 451,260 | SH | | SOLE | | 451,260 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 32,067 | 2,694,682 | SH | | SOLE | | 2,694,682 | 0 | 0 |
DWS STRATEGIC MUN INCOME TR | COM | 23342Q101 | 5,443 | 442,901 | SH | | SOLE | | 442,901 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 1,896 | 158,774 | SH | | SOLE | | 158,774 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 8,187 | 592,010 | SH | | SOLE | | 592,010 | 0 | 0 |
EATON VANCE NEW YORK MUN BD | COM | 27827Y109 | 1,744 | 142,159 | SH | | SOLE | | 142,159 | 0 | 0 |
EATON VANCE TX ADV GLBL DIV | COM | 27828S101 | 10,772 | 506,189 | SH | | SOLE | | 506,189 | 0 | 0 |
EUROPEAN EQUITY FD INC | COM | 298768102 | 21,845 | 1,959,191 | SH | | SOLE | | 1,959,191 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQUI | COM SHS | 33740D107 | 16,099 | 1,248,940 | SH | | SOLE | | 1,248,940 | 0 | 0 |
FIRST TR MTG INCOME FD | COM SHS | 33734E103 | 4,897 | 355,876 | SH | | SOLE | | 355,876 | 0 | 0 |
GDL FD | COM SH BEN IT | 361570104 | 163 | 18,102 | SH | | SOLE | | 18,102 | 0 | 0 |
GENERAL AMERN INVS CO INC | COM | 368802104 | 34,899 | 810,470 | SH | | SOLE | | 810,470 | 0 | 0 |
GUGGENHEIM ENHANCED EQT INCM | COM | 40167B100 | 5,548 | 597,892 | SH | | SOLE | | 597,892 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 13,190 | 831,148 | SH | | SOLE | | 831,148 | 0 | 0 |
HANCOCK JOHN INVS TR | COM | 410142103 | 3,270 | 175,216 | SH | | SOLE | | 175,216 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 1,943 | 84,152 | SH | | SOLE | | 84,152 | 0 | 0 |
ISHARES INC | MSCI AUST ETF | 464286103 | 27,858 | 1,122,398 | SH | | SOLE | | 1,122,398 | 0 | 0 |
ISHARES INC | MSCI EURZONE ETF | 464286608 | 90,339 | 1,877,366 | SH | | SOLE | | 1,877,366 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 285,125 | 4,058,721 | SH | | SOLE | | 4,058,721 | 0 | 0 |
ISHARES INC | MSCI SWITZERLAND | 464286749 | 54,997 | 1,180,708 | SH | | SOLE | | 1,180,708 | 0 | 0 |
ISHARES TR | BARCLAYS 7 10 YR | 464287440 | 159,561 | 1,384,835 | SH | | SOLE | | 1,384,835 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 1,757 | 15,300 | SH | | SOLE | | 15,300 | 0 | 0 |
ISHARES TR | IBOXX INV CP ETF | 464287242 | 84,913 | 638,300 | SH | | SOLE | | 638,300 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 149,099 | 1,378,760 | SH | | SOLE | | 1,378,760 | 0 | 0 |
ISHARES TR | NATIONAL MUN ETF | 464288414 | 18,839 | 162,168 | SH | | SOLE | | 162,168 | 0 | 0 |
ISHARES TR | SHRT NAT MUN ETF | 464288158 | 9,843 | 91,500 | SH | | SOLE | | 91,500 | 0 | 0 |
ISHARES TR | US TREAS BD ETF | 46429B267 | 93,324 | 3,517,675 | SH | | SOLE | | 3,517,675 | 0 | 0 |
JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 44,114 | 4,874,481 | SH | | SOLE | | 4,874,481 | 0 | 0 |
KOREA FD INC | COM NEW | 500634209 | 21,537 | 525,933 | SH | | SOLE | | 525,933 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 830 | 60,323 | SH | | SOLE | | 60,323 | 0 | 0 |
MACQUARIE GLOBAL INFRASTRUCT | COM | 55608D101 | 8,601 | 368,977 | SH | | SOLE | | 368,977 | 0 | 0 |
MEXICO FD INC | COM | 592835102 | 3,339 | 224,851 | SH | | SOLE | | 224,851 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 9,771 | 2,699,259 | SH | | SOLE | | 2,699,259 | 0 | 0 |
MFS INVT GRADE MUN TR | SH BEN INT | 59318B108 | 1,170 | 117,035 | SH | | SOLE | | 117,035 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 1,300 | 186,044 | SH | | SOLE | | 186,044 | 0 | 0 |
MILLER HOWARD HIGH INC EQTY | COM SHS BEN IN | 600379101 | 2,197 | 223,261 | SH | | SOLE | | 223,261 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 28,246 | 1,345,679 | SH | | SOLE | | 1,345,679 | 0 | 0 |
MORGAN STANLEY INDIA INVT FD | COM | 61745C105 | 3,503 | 126,980 | SH | | SOLE | | 126,980 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 27,272 | 1,380,841 | SH | | SOLE | | 1,380,841 | 0 | 0 |
NEW IRELAND FD INC | COM | 645673104 | 6,162 | 500,191 | SH | | SOLE | | 500,191 | 0 | 0 |
NUVEEN AMT-FREE MUN VALUE FD | COM | 670695105 | 18,371 | 1,077,462 | SH | | SOLE | | 1,077,462 | 0 | 0 |
NUVEEN CALIFORNIA MUNI VLU F | COM STK | 67062C107 | 1,549 | 146,818 | SH | | SOLE | | 146,818 | 0 | 0 |
NUVEEN CORE PLUS IMPACT FUND | COM BEN INT | 67080D103 | 774 | 39,600 | SH | | SOLE | | 39,600 | 0 | 0 |
NUVEEN CORPORATE INCM NOVEME | COM | 67077N106 | 3,340 | 356,026 | SH | | SOLE | | 356,026 | 0 | 0 |
NUVEEN DOW 30 DYNMC OVERWRT | SHS | 67075F105 | 5,002 | 298,610 | SH | | SOLE | | 298,610 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 2,511 | 249,346 | SH | | SOLE | | 249,346 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM SHS | 6706EN100 | 3,711 | 371,800 | SH | | SOLE | | 371,800 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 2,755 | 203,303 | SH | | SOLE | | 203,303 | 0 | 0 |
NUVEEN INT DUR QUAL MUN TRM | COM | 670677103 | 1,071 | 73,020 | SH | | SOLE | | 73,020 | 0 | 0 |
NUVEEN MULTI-MKT INCOME FD | COM | 67075J107 | 8,881 | 1,183,096 | SH | | SOLE | | 1,183,096 | 0 | 0 |
NUVEEN N Y MUN VALUE FD | COM | 67062M105 | 421 | 41,981 | SH | | SOLE | | 41,981 | 0 | 0 |
NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 | 4,756 | 447,845 | SH | | SOLE | | 447,845 | 0 | 0 |
NUVEEN S&P 500 BUY-WRITE INC | COM | 6706ER101 | 2,587 | 181,829 | SH | | SOLE | | 181,829 | 0 | 0 |
NUVEEN TAX-ADVANTAGED DIVID | COM | 67073G105 | 202 | 12,732 | SH | | SOLE | | 12,732 | 0 | 0 |
PGIM SHORT DUR HIG YLD OPP F | COM | 69355J104 | 3,198 | 170,372 | SH | | SOLE | | 170,372 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 8,964 | 784,967 | SH | | SOLE | | 784,967 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 5,447 | 302,280 | SH | | SOLE | | 302,280 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 | 3,553 | 19,800 | SH | | SOLE | | 19,800 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | 4,814 | 49,200 | SH | | SOLE | | 49,200 | 0 | 0 |
SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | 13,241 | 88,675 | SH | | SOLE | | 88,675 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 18,580 | 43,295 | SH | | SOLE | | 43,295 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 12,095 | 1,458,941 | SH | | SOLE | | 1,458,941 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 3,078 | 335,286 | SH | | SOLE | | 335,286 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 22,489 | 638,700 | SH | | SOLE | | 638,700 | 0 | 0 |
TEKLA LIFE SCIENCES INVS | SH BEN INT | 87911K100 | 208 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 4,507 | 250,825 | SH | | SOLE | | 250,825 | 0 | 0 |
TEMPLETON EMERGING MKTS FD | COM | 880191101 | 19,866 | 1,170,643 | SH | | SOLE | | 1,170,643 | 0 | 0 |
TEMPLETON GLOBAL INCOME FD | COM | 880198106 | 5,003 | 929,882 | SH | | SOLE | | 929,882 | 0 | 0 |
VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 | 4,048 | 73,900 | SH | | SOLE | | 73,900 | 0 | 0 |
VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 | 12,382 | 232,350 | SH | | SOLE | | 232,350 | 0 | 0 |
VIRTUS DIVIDEND INTEREST & P | COM | 92840R101 | 15,596 | 1,051,626 | SH | | SOLE | | 1,051,626 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 8,084 | 1,093,974 | SH | | SOLE | | 1,093,974 | 0 | 0 |
VOYA GLBL ADV & PREM OPP FD | COM | 92912R104 | 972 | 98,045 | SH | | SOLE | | 98,045 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 4,312 | 730,843 | SH | | SOLE | | 730,843 | 0 | 0 |
WESTERN ASSET HIGH INCOME OP | COM | 95766K109 | 1,907 | 367,361 | SH | | SOLE | | 367,361 | 0 | 0 |
WESTERN ASSET INTER MUNI FD | COM | 958435109 | 13,964 | 1,432,155 | SH | | SOLE | | 1,432,155 | 0 | 0 |
WESTERN ASSET MANAGED MUNS F | COM | 95766M105 | 15,933 | 1,194,392 | SH | | SOLE | | 1,194,392 | 0 | 0 |
WESTERN ASSET MUN PARTNERS F | COM | 95766P108 | 5,122 | 326,845 | SH | | SOLE | | 326,845 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 13,605 | 963,517 | SH | | SOLE | | 963,517 | 0 | 0 |
WESTERN AST INFL LKD OPP & I | COM | 95766R104 | 40,722 | 3,064,140 | SH | | SOLE | | 3,064,140 | 0 | 0 |
INSIGHT SELECT INCOME FD | COM | 45781W109 | 67 | 3,187 | SH | | SOLE | | 3,187 | 0 | 0 |
INVESCO BD FD | COM | 46132L107 | 140 | 6,900 | SH | | SOLE | | 6,900 | 0 | 0 |