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 | 7,039 | 1,163,468 | SH | | SOLE | | 1,163,468 | 0 | 0 |
ABERDEEN EMRG MRKTS EQT INM | COM | 00301W105 | 28,122 | 3,550,804 | SH | | SOLE | | 3,550,804 | 0 | 0 |
ABERDEEN GLOBAL DYNAMIC DIVI | COM | 00302M106 | 445 | 36,837 | SH | | SOLE | | 36,837 | 0 | 0 |
ABERDEEN JAPAN EQUITY FD INC | COM | 00306J109 | 25,537 | 3,141,083 | SH | | SOLE | | 3,141,083 | 0 | 0 |
ABERDEEN TOTAL DYNAMIC DIVD | COM SH BEN INT | 00326L100 | 55,150 | 5,396,292 | SH | | SOLE | | 5,396,292 | 0 | 0 |
ADAMS DIVERSIFIED EQUITY FD | COM | 006212104 | 40,830 | 2,103,536 | SH | | SOLE | | 2,103,536 | 0 | 0 |
ALLIANCEBERNSTEIN NATL MUN I | COM | 01864U106 | 7,304 | 493,171 | SH | | SOLE | | 493,171 | 0 | 0 |
BLACKROCK CALIF MUN INCOME T | SH BEN INT | 09248E102 | 10,644 | 731,571 | SH | | SOLE | | 731,571 | 0 | 0 |
BLACKROCK CAP ALLOCATION TR | COM | 09260U109 | 1,717 | 88,300 | SH | | SOLE | | 88,300 | 0 | 0 |
BLACKROCK ENHANCD CAP & INM | COM | 09256A109 | 4,312 | 194,956 | SH | | SOLE | | 194,956 | 0 | 0 |
BLACKROCK ENHANCED GLOBAL DI | COM | 092501105 | 31,547 | 2,590,104 | SH | | SOLE | | 2,590,104 | 0 | 0 |
BLACKROCK ENHANCED GOVT FD I | COM | 09255K108 | 6,475 | 515,096 | SH | | SOLE | | 515,096 | 0 | 0 |
BLACKROCK ENHANCED INTL DIV | COM BENE INTER | 092524107 | 25,683 | 4,089,672 | SH | | SOLE | | 4,089,672 | 0 | 0 |
BLACKROCK ESG CAP ALLC TR | SHS BEN INT | 09262F100 | 707 | 37,899 | SH | | SOLE | | 37,899 | 0 | 0 |
BLACKROCK HEALTH SCIENCS TR | COM SHS | 09260E105 | 6,012 | 237,077 | SH | | SOLE | | 237,077 | 0 | 0 |
BLACKROCK INNOVATION AND GRW | SHS BEN INT | 09260Q108 | 2,059 | 141,608 | SH | | SOLE | | 141,608 | 0 | 0 |
BLACKROCK MUNIHLDS INVSTM QL | COM | 09254P108 | 1,517 | 102,057 | SH | | SOLE | | 102,057 | 0 | 0 |
BLACKROCK MUNIVEST FD INC | COM | 09253R105 | 8,129 | 849,439 | SH | | SOLE | | 849,439 | 0 | 0 |
BLACKROCK MUNIYIELD QUALITY | COM | 09254E103 | 14,094 | 950,999 | SH | | SOLE | | 950,999 | 0 | 0 |
BLACKROCK SCIENCE & TECHNOLO | SHS | 09258G104 | 11,338 | 226,890 | SH | | SOLE | | 226,890 | 0 | 0 |
BLACKROCK SCIENCE & TECHNOLO | SHS BEN INT | 09260K101 | 10,687 | 274,447 | SH | | SOLE | | 274,447 | 0 | 0 |
CBRE GBL REAL ESTATE INC FD | COM | 12504G100 | 1,756 | 179,327 | SH | | SOLE | | 179,327 | 0 | 0 |
CENTRAL & EASTERN EUROPE FD | COM | 153436100 | 7,600 | 287,979 | SH | | SOLE | | 287,979 | 0 | 0 |
CENTRAL SECS CORP | COM | 155123102 | 15,773 | 353,818 | SH | | SOLE | | 353,818 | 0 | 0 |
CHINA FD INC | COM | 169373107 | 5,564 | 304,384 | SH | | SOLE | | 304,384 | 0 | 0 |
COHEN & STEERS TAX ADVAN PFD | COM | 19249X108 | 770 | 32,000 | SH | | SOLE | | 32,000 | 0 | 0 |
CREDIT SUISSE HIGH YIELD BD | SH BEN INT | 22544F103 | 5,360 | 2,170,040 | SH | | SOLE | | 2,170,040 | 0 | 0 |
CUSHING MLP & INFRASTRUCT | COM NEW | 231631300 | 1,290 | 42,281 | SH | | SOLE | | 42,281 | 0 | 0 |
DTF TAX-FREE INCOME INC | COM | 23334J107 | 8,720 | 610,222 | SH | | SOLE | | 610,222 | 0 | 0 |
DWS MUN INCOME TR | COM | 233368109 | 31,204 | 2,639,972 | SH | | SOLE | | 2,639,972 | 0 | 0 |
DWS STRATEGIC MUN INCOME TR | COM | 23342Q101 | 4,911 | 403,886 | SH | | SOLE | | 403,886 | 0 | 0 |
EATON VANCE CALIF MUN BD FD | COM | 27828A100 | 1,842 | 158,774 | SH | | SOLE | | 158,774 | 0 | 0 |
EATON VANCE MUNI INCOME TRUS | SH BEN INT | 27826U108 | 7,528 | 544,694 | SH | | SOLE | | 544,694 | 0 | 0 |
EATON VANCE NEW YORK MUN BD | COM | 27827Y109 | 1,724 | 141,859 | SH | | SOLE | | 141,859 | 0 | 0 |
EATON VANCE TX ADV GLBL DIV | COM | 27828S101 | 2,702 | 118,886 | SH | | SOLE | | 118,886 | 0 | 0 |
EUROPEAN EQUITY FD INC | COM | 298768102 | 19,447 | 1,875,110 | SH | | SOLE | | 1,875,110 | 0 | 0 |
FIRST TR DYNAMIC EUROPE EQUI | COM SHS | 33740D107 | 16,761 | 1,262,123 | SH | | SOLE | | 1,262,123 | 0 | 0 |
FIRST TR MTG INCOME FD | COM SHS | 33734E103 | 4,843 | 355,576 | SH | | SOLE | | 355,576 | 0 | 0 |
GENERAL AMERN INVS CO INC | COM | 368802104 | 37,285 | 843,551 | SH | | SOLE | | 843,551 | 0 | 0 |
GUGGENHEIM STRATEGIC OPPORTU | COM SBI | 40167F101 | 173 | 9,467 | SH | | SOLE | | 9,467 | 0 | 0 |
HANCOCK JOHN INCOME SECS TR | COM | 410123103 | 12,120 | 786,497 | SH | | SOLE | | 786,497 | 0 | 0 |
INDIA FD INC | COM | 454089103 | 1,459 | 69,152 | SH | | SOLE | | 69,152 | 0 | 0 |
INVESCO BD FD | COM | 46132L107 | 219 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
ISHARES INC | MSCI AUST ETF | 464286103 | 30,799 | 1,240,398 | SH | | SOLE | | 1,240,398 | 0 | 0 |
ISHARES INC | MSCI EURZONE ETF | 464286608 | 92,671 | 1,890,866 | SH | | SOLE | | 1,890,866 | 0 | 0 |
ISHARES INC | MSCI JPN ETF NEW | 46434G822 | 241,774 | 3,610,721 | SH | | SOLE | | 3,610,721 | 0 | 0 |
ISHARES INC | MSCI SWITZERLAND | 464286749 | 70,464 | 1,336,308 | SH | | SOLE | | 1,336,308 | 0 | 0 |
ISHARES TR | BARCLAYS 7 10 YR | 464287440 | 122,153 | 1,062,200 | SH | | SOLE | | 1,062,200 | 0 | 0 |
ISHARES TR | BROAD USD HIGH | 46435U853 | 8,238 | 200,000 | SH | | SOLE | | 200,000 | 0 | 0 |
ISHARES TR | IBOXX INV CP ETF | 464287242 | 92,009 | 694,300 | SH | | SOLE | | 694,300 | 0 | 0 |
ISHARES TR | MBS ETF | 464288588 | 118,756 | 1,105,430 | SH | | SOLE | | 1,105,430 | 0 | 0 |
ISHARES TR | NATIONAL MUN ETF | 464288414 | 15,136 | 130,168 | SH | | SOLE | | 130,168 | 0 | 0 |
ISHARES TR | SHRT NAT MUN ETF | 464288158 | 8,536 | 79,500 | SH | | SOLE | | 79,500 | 0 | 0 |
ISHARES TR | US TREAS BD ETF | 46429B267 | 90,783 | 3,402,675 | SH | | SOLE | | 3,402,675 | 0 | 0 |
ISHARES TR | CORE US AGGBD ET | 464287226 | 160 | 1,400 | SH | | SOLE | | 1,400 | 0 | 0 |
ISHARES TR | MSCI EMG MKT ETF | 464287234 | 195 | 4,000 | SH | | SOLE | | 4,000 | 0 | 0 |
JAPAN SMALLER CAPITALIZATION | COM | 47109U104 | 36,664 | 4,658,755 | SH | | SOLE | | 4,658,755 | 0 | 0 |
KOREA FD INC | COM NEW | 500634209 | 16,904 | 491,702 | SH | | SOLE | | 491,702 | 0 | 0 |
LMP CAP & INCOME FD INC | COM | 50208A102 | 891 | 58,623 | SH | | SOLE | | 58,623 | 0 | 0 |
MACQUARIE GLOBAL INFRASTRUCT | COM | 55608D101 | 8,435 | 349,511 | SH | | SOLE | | 349,511 | 0 | 0 |
MEXICO FD INC | COM | 592835102 | 3,069 | 194,951 | SH | | SOLE | | 194,951 | 0 | 0 |
MFS INTER INCOME TR | SH BEN INT | 55273C107 | 5,544 | 1,544,359 | SH | | SOLE | | 1,544,359 | 0 | 0 |
MFS INVT GRADE MUN TR | SH BEN INT | 59318B108 | 1,100 | 106,735 | SH | | SOLE | | 106,735 | 0 | 0 |
MFS MUN INCOME TR | SH BEN INT | 552738106 | 1,233 | 176,205 | SH | | SOLE | | 176,205 | 0 | 0 |
MILLER HOWARD HIGH INC EQTY | COM SHS BEN IN | 600379101 | 2,304 | 223,261 | SH | | SOLE | | 223,261 | 0 | 0 |
MORGAN STANLEY CHINA A SH FD | COM | 617468103 | 25,260 | 1,237,643 | SH | | SOLE | | 1,237,643 | 0 | 0 |
MORGAN STANLEY INDIA INVT FD | COM | 61745C105 | 2,891 | 108,280 | SH | | SOLE | | 108,280 | 0 | 0 |
NEUBERGER BERMAN NEXT GENERA | COMMON STOCK | 64133Q108 | 3,168 | 183,116 | SH | | SOLE | | 183,116 | 0 | 0 |
NEW GERMANY FD INC | COM | 644465106 | 19,801 | 1,337,025 | SH | | SOLE | | 1,337,025 | 0 | 0 |
NEW IRELAND FD INC | COM | 645673104 | 5,267 | 471,916 | SH | | SOLE | | 471,916 | 0 | 0 |
NUVEEN AMT-FREE MUN VALUE FD | COM | 670695105 | 17,875 | 1,078,078 | SH | | SOLE | | 1,078,078 | 0 | 0 |
NUVEEN CALIFORNIA MUNI VLU F | COM STK | 67062C107 | 2,247 | 222,017 | SH | | SOLE | | 222,017 | 0 | 0 |
NUVEEN CORE PLUS IMPACT FUND | COM BEN INT | 67080D103 | 27,171 | 1,484,761 | SH | | SOLE | | 1,484,761 | 0 | 0 |
NUVEEN DOW 30 DYNMC OVERWRT | SHS | 67075F105 | 4,919 | 276,835 | SH | | SOLE | | 276,835 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM | 67072T108 | 2,122 | 208,646 | SH | | SOLE | | 208,646 | 0 | 0 |
NUVEEN FLOATING RATE INCOME | COM SHS | 6706EN100 | 3,690 | 364,300 | SH | | SOLE | | 364,300 | 0 | 0 |
NUVEEN GEORGIA QLTY MUN INC | COM | 67072B107 | 1,929 | 139,975 | SH | | SOLE | | 139,975 | 0 | 0 |
NUVEEN MULTI-MKT INCOME FD | COM | 67075J107 | 8,941 | 1,179,596 | SH | | SOLE | | 1,179,596 | 0 | 0 |
NUVEEN MUN VALUE FD INC | COM | 670928100 | 65 | 6,300 | SH | | SOLE | | 6,300 | 0 | 0 |
NUVEEN N Y MUN VALUE FD | COM | 67062M105 | 281 | 28,545 | SH | | SOLE | | 28,545 | 0 | 0 |
NUVEEN REAL ESTATE INCOME FD | COM | 67071B108 | 5,714 | 445,713 | SH | | SOLE | | 445,713 | 0 | 0 |
NUVEEN S&P 500 BUY-WRITE INC | COM | 6706ER101 | 2,510 | 171,320 | SH | | SOLE | | 171,320 | 0 | 0 |
NUVEEN SELECT TAX-FREE INCOM | SH BEN INT | 67062F100 | 155 | 9,700 | SH | | SOLE | | 9,700 | 0 | 0 |
PGIM SHORT DUR HIG YLD OPP F | COM | 69355J104 | 14,224 | 771,784 | SH | | SOLE | | 771,784 | 0 | 0 |
PIONEER MUN HIGH INCOME OPPO | COMMON STOCK | 723760104 | 3,457 | 188,186 | SH | | SOLE | | 188,186 | 0 | 0 |
PIONEER MUNICIPAL HIGH INCOM | COM SHS | 723763108 | 339 | 27,700 | SH | | SOLE | | 27,700 | 0 | 0 |
ROYCE MICRO-CAP TR INC | COM | 780915104 | 9,659 | 836,317 | SH | | SOLE | | 836,317 | 0 | 0 |
ROYCE VALUE TR INC | COM | 780910105 | 1,103 | 56,301 | SH | | SOLE | | 56,301 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 | 2,310 | 11,300 | SH | | SOLE | | 11,300 | 0 | 0 |
SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 | 6,596 | 62,335 | SH | | SOLE | | 62,335 | 0 | 0 |
SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | 13,488 | 77,575 | SH | | SOLE | | 77,575 | 0 | 0 |
SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 20,563 | 43,295 | SH | | SOLE | | 43,295 | 0 | 0 |
SPROTT FOCUS TR INC | COM | 85208J109 | 11,197 | 1,301,931 | SH | | SOLE | | 1,301,931 | 0 | 0 |
SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 | 4,777 | 104,700 | SH | | SOLE | | 104,700 | 0 | 0 |
SWISS HELVETIA FD INC | COM | 870875101 | 3,289 | 330,865 | SH | | SOLE | | 330,865 | 0 | 0 |
TAIWAN FD INC | COM | 874036106 | 23,564 | 627,196 | SH | | SOLE | | 627,196 | 0 | 0 |
TEMPLETON DRAGON FD INC | COM | 88018T101 | 3,807 | 223,925 | SH | | SOLE | | 223,925 | 0 | 0 |
TEMPLETON EMERGING MKTS FD | COM | 880191101 | 17,347 | 1,081,503 | SH | | SOLE | | 1,081,503 | 0 | 0 |
THORNBURG INCM BUILDER OPP T | COM | 885213108 | 303 | 16,254 | SH | | SOLE | | 16,254 | 0 | 0 |
VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 | 4,607 | 83,900 | SH | | SOLE | | 83,900 | 0 | 0 |
VANGUARD SCOTTSDALE FDS | MTG-BKD SECS ETF | 92206C771 | 10,761 | 203,650 | SH | | SOLE | | 203,650 | 0 | 0 |
VIRTUS ALLIANZGI CONVERTIBLE | COM | 92838U108 | 450 | 88,301 | SH | | SOLE | | 88,301 | 0 | 0 |
VIRTUS DIVIDEND INTEREST & P | COM | 92840R101 | 16,915 | 1,053,226 | SH | | SOLE | | 1,053,226 | 0 | 0 |
VOYA EMERGING MKTS HIGH DIVI | COM | 92912P108 | 6,772 | 953,853 | SH | | SOLE | | 953,853 | 0 | 0 |
VOYA GLBL EQTY DIV & PREM OP | COM | 92912T100 | 4,019 | 647,158 | SH | | SOLE | | 647,158 | 0 | 0 |
WESTERN ASSET DIVERSIFIED IN | COM SHS BEN INT | 95790K109 | 23,383 | 1,277,070 | SH | | SOLE | | 1,277,070 | 0 | 0 |
WESTERN ASSET HIGH INCOME OP | COM | 95766K109 | 1,871 | 359,861 | SH | | SOLE | | 359,861 | 0 | 0 |
WESTERN ASSET INTER MUNI FD | COM | 958435109 | 13,529 | 1,403,392 | SH | | SOLE | | 1,403,392 | 0 | 0 |
WESTERN ASSET MANAGED MUNS F | COM | 95766M105 | 15,693 | 1,199,756 | SH | | SOLE | | 1,199,756 | 0 | 0 |
WESTERN ASSET MUN PARTNERS F | COM | 95766P108 | 4,951 | 318,161 | SH | | SOLE | | 318,161 | 0 | 0 |
WESTERN ASSET PREMIER BD FD | SHS BEN INT | 957664105 | 13,296 | 927,817 | SH | | SOLE | | 927,817 | 0 | 0 |
WESTERN AST INFL LKD OPP & I | COM | 95766R104 | 38,312 | 2,821,240 | SH | | SOLE | | 2,821,240 | 0 | 0 |