Thomas J. Herzfeld Advisors 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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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 Fund	common stock	003009107	1,016	166,243	SH		SOLE		166,243	0	0
Aberdeen Emerging Markets Smaller Companies Opportunities Fund	common stock	00301T102	66	4,964	SH		SOLE		4,964	0	0
Aberdeen Indonesia Fund	common stock	00305P106	275	29,152	SH		SOLE		29,152	0	0
Aberdeen Israel Fund	common stock	00301L109	50	2,750	SH		SOLE		2,750	0	0
Aberdeen Latin America Equity Fund	common stock	00306K106	2	88	SH		SOLE		88	0	0
Aberdeen Singapore Fund	common stock	003244100	364	29,192	SH		SOLE		29,192	0	0
Adams Express Company	common stock	006212104	4,538	349,580	SH		SOLE		349,580	0	0
Advent Claymore Covertible Securities & Income Fund	common stock	00764C109	1,162	62,527	SH		SOLE		62,527	0	0
Advent/Claymore Enhanced Growth & Income Fund	common stock	00765E104	274	26,901	SH		SOLE		26,901	0	0
Alliance California Municipal Income Fund	common stock	018546101	150	11,800	SH		SOLE		11,800	0	0
Alliance New York Municipal Income Fund, Inc.	common stock	018714105	2	150	SH		SOLE		150	0	0
AllianceBernstein Income Fund	common stock	01881E101	941	128,159	SH		SOLE		128,159	0	0
AllianzGI Equity & Convertible Income Fund	common stock	018829101	1,049	53,911	SH		SOLE		53,911	0	0
Alpine Global Dynamic Dividend Fund	common stock	02082E205	2,738	273,515	SH		SOLE		273,515	0	0
Alpine Total Dynamic Dividend Fund	common stock	021060207	4,970	592,402	SH		SOLE		592,402	0	0
AMERICA MOVIL ADR SERIES L	common stock	02364W105	888	44,690	SH		SOLE		44,690	0	0
American Select Portfolio	common stock	029570108	1,848	186,010	SH		SOLE		186,010	0	0
American Strategic Income Portfolio II	common stock	030099105	419	50,420	SH		SOLE		50,420	0	0
Apollo Tactical Income Fund Inc	common stock	037638103	250	14,023	SH		SOLE		14,023	0	0
Ares Multi-Strategy Credit Fund	common stock	04014Q108	88	4,001	SH		SOLE		4,001	0	0
ASA Gold and Precious Metals Limited	common stock	G3156P103	138	10,307	SH		SOLE		10,307	0	0
Asia Pacific Fund	common stock	044901106	57	5,500	SH		SOLE		5,500	0	0
Asia Tigers Fund	common stock	04516T105	9	759	SH		SOLE		759	0	0
ATLANTIC TELE NETWORK INC	common stock	049079205	527	8,000	SH		SOLE		8,000	0	0
Avenue Income Credit Strategies Fund	common stock	05358E106	162	9,185	SH		SOLE		9,185	0	0
BANCOLOMBIA S.A. SPONS ADR	common stock	05968L102	1,202	21,280	SH		SOLE		21,280	0	0
Bancroft Fund	common stock	059695106	750	38,386	SH		SOLE		38,386	0	0
Blackrock Build America Bond Trust	common stock	09248X100	1,799	88,890	SH		SOLE		88,890	0	0
BlackRock Credit Allocation Income Trust IV	common stock	092508100	2,413	178,444	SH		SOLE		178,444	0	0
BlackRock Energy & Resources Trust	common stock	09250U101	218	9,035	SH		SOLE		9,035	0	0
BlackRock Enhanced Capital and Income Fund	common stock	09256A109	506	36,227	SH		SOLE		36,227	0	0
BlackRock Enhanced Equity Dividend Trust	common stock	09251A104	1,668	210,108	SH		SOLE		210,108	0	0
BlackRock Global Opportunties Equity Trust	common stock	092501105	1,438	98,312	SH		SOLE		98,312	0	0
BlackRock International Growth and Income Trust	common stock	092524107	691	85,700	SH		SOLE		85,700	0	0
BlackRock Limited Duration Income Trust	common stock	09249W101	67	3,910	SH		SOLE		3,910	0	0
BlackRock Maryland Municipal Bond Trust	common stock	09249L105	7	528	SH		SOLE		528	0	0
BlackRock Multi-Sector Income Trust	common stock	09258A107	41	2,301	SH		SOLE		2,301	0	0
BlackRock Muni Intermediate Duration Fund	common stock	09253X102	57	4,000	SH		SOLE		4,000	0	0
BlackRock MuniAssets Fund	common stock	09254J102	31	2,500	SH		SOLE		2,500	0	0
BlackRock Municipal Income Investment Quality Trust	common stock	09250G102	55	4,000	SH		SOLE		4,000	0	0
BlackRock Municipal Target Term Trust	common stock	09257P105	11	601	SH		SOLE		601	0	0
Blackrock Muniyield Michigan Quality Fund	common stock	09254V105	90	6,800	SH		SOLE		6,800	0	0
Blackrock Muniyield Michigan Quality Fund II	common stock	09254W103	218	17,550	SH		SOLE		17,550	0	0
BlackRock Resources & Commodities Strategy Trust	common stock	09257A108	193	16,756	SH		SOLE		16,756	0	0
BlackRock S&P Quality Rankings Global Equity Managed Trust	common stock	09250D109	35	2,650	SH		SOLE		2,650	0	0
BlackRock Utility & Infrastructure Trust	common stock	09248D104	95	5,000	SH		SOLE		5,000	0	0
Boulder Growth and Income Fund	common stock	101507101	1,163	143,031	SH		SOLE		143,031	0	0
Boulder Total Return Fund	common stock	101541100	678	27,876	SH		SOLE		27,876	0	0
Brookfield Global Listed Infrastructure Income Fund, Inc.	common stock	11273Q109	632	29,571	SH		SOLE		29,571	0	0
Brookfield Mortgage Opportunity Income Fund	common stock	112792106	84	5,001	SH		SOLE		5,001	0	0
Brookfield Total Return Fund	common stock	11283U108	194	8,000	SH		SOLE		8,000	0	0
Calamos Global Dynamic Income Fund	common stock	12811L107	421	46,739	SH		SOLE		46,739	0	0
Calamos Strategic Total Return Fund	common stock	128125101	95	8,535	SH		SOLE		8,535	0	0
CARNIVAL CORP	common stock	143658300	1,249	33,000	SH		SOLE		33,000	0	0
CEMEX SAB SPONS ADR PART CER	common stock	151290889	689	54,561	SH		SOLE		54,561	0	0
Center Coast MLP & Infrastructure Fund	common stock	151461100	379	22,001	SH		SOLE		22,001	0	0
Central Europe Russia and Turkey Fund	common stock	153436100	122	4,633	SH		SOLE		4,633	0	0
Central Fund of Canada Limited (USA)	common stock	153501101	110	8,000	SH		SOLE		8,000	0	0
Central Securities	common stock	155123102	508	22,721	SH		SOLE		22,721	0	0
China Fund	common stock	169373107	100	5,000	SH		SOLE		5,000	0	0
CHIQUITA BRANDS INTL	common stock	170032809	1,186	95,244	SH		SOLE		95,244	0	0
Clough Global Allocation Fund	common stock	18913Y103	592	38,994	SH		SOLE		38,994	0	0
Clough Global Equity Fund	common stock	18914C100	935	60,629	SH		SOLE		60,629	0	0
Clough Global Opportunities Fund	common stock	18914E106	2,647	207,645	SH		SOLE		207,645	0	0
COCA COLA FEMSA SAB SP ADR	common stock	191241108	2,068	19,602	SH		SOLE		19,602	0	0
Cohen & Steers Dividend Majors Fund	common stock	19248G106	468	30,286	SH		SOLE		30,286	0	0
Cohen & Steers Infrastructure Fund	common stock	19248A109	2,048	92,742	SH		SOLE		92,742	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund	common stock	19249B106	118	6,571	SH		SOLE		6,571	0	0
Cohen & Steers REIT & Preferred Income Fund	common stock	19247X100	486	28,591	SH		SOLE		28,591	0	0
Columbia Seligman Premium Technology Growth Fund	common stock	19842X109	27	1,726	SH		SOLE		1,726	0	0
CONSOLIDATED WATER CO ORD SH	common stock	G23773107	1,254	95,117	SH		SOLE		95,117	0	0
COPA HOLDINGS SA CLASS A	common stock	P31076905	2,588	17,827	SH		SOLE		17,827	0	0
CorEnergy Infrastructure Trust	common stock	21870U205	3	510	SH		SOLE		510	0	0
Cornerstone Strategic Value Fund	common stock	21924B203	12	1,885	SH		SOLE		1,885	0	0
Cushing Renaissance Fund	common stock	231647108	371	14,343	SH		SOLE		14,343	0	0
Delaware Enhanced Global Dividend & Income Fund	common stock	246060107	573	46,572	SH		SOLE		46,572	0	0
Delaware Investments Dividend & Income Fund	common stock	245915103	100	10,476	SH		SOLE		10,476	0	0
Delaware Investments Minnesota Municipal Income Fund II, Inc.	common stock	24610V103	3	200	SH		SOLE		200	0	0
DESARROLLADORA HOMEX ADR	common stock	25030W100	9	6,100	SH		SOLE		6,100	0	0
Dividend and Income Fund	common stock	25538A204	262	17,120	SH		SOLE		17,120	0	0
DoubleLine Income Solutions Fund	common stock	258622109	1,283	60,461	SH		SOLE		60,461	0	0
Dreyfus Municipal Bond Infrastructure Fund	common stock	26203D101	74	6,601	SH		SOLE		6,601	0	0
Duff & Phelps Global Utility Income Fund	common stock	26433C105	48	2,410	SH		SOLE		2,410	0	0
DWS Global High Income Fund	common stock	23338W104	15	1,802	SH		SOLE		1,802	0	0
Eaton Vance California Municipal Bond Fund	common stock	27828A100	67	6,209	SH		SOLE		6,209	0	0
Eaton Vance California Municipal Income Trust	common stock	27826F101	131	10,868	SH		SOLE		10,868	0	0
Eaton Vance Floating-Rate Income Plus Fund	common stock	278284104	170	9,331	SH		SOLE		9,331	0	0
Eaton Vance Limited Duration Income Fund	common stock	27828H105	83	5,440	SH		SOLE		5,440	0	0
Eaton Vance Massachusetts Municipal Bond Fund	common stock	27828K108	13	1,000	SH		SOLE		1,000	0	0
Eaton Vance Michigan Municipal Income Trust	common stock	27826D106	154	12,821	SH		SOLE		12,821	0	0
Eaton Vance Municipal Income Term Trust	common stock	27829U105	18	1,151	SH		SOLE		1,151	0	0
Eaton Vance National Municipal Opportunities Trust	common stock	27829L105	2	101	SH		SOLE		101	0	0
Eaton Vance New Jersey Municipal Bond Fund	common stock	27828R103	6	500	SH		SOLE		500	0	0
Eaton Vance Risk-Managed Diversified Equity Income Fund	common stock	27829G106	772	68,292	SH		SOLE		68,292	0	0
Eaton Vance Tax-Advantaged Dividend Income Fund	common stock	27828G107	299	15,207	SH		SOLE		15,207	0	0
Eaton Vance Tax-Managed Diversified Equity Income Fund	common stock	27828N102	294	26,358	SH		SOLE		26,358	0	0
Engex	common stock	292851102	60	15,572	SH		SOLE		15,572	0	0
Enzo Biochem, Inc	common stock	294100102	12	3,000	SH		SOLE		3,000	0	0
Equus Total Return	common stock	294766100	179	93,273	SH		SOLE		93,273	0	0
ERA GROUP INC	common stock	26885G109	94	3,215	SH		SOLE		3,215	0	0
European Equity Fund	common stock	298768102	153	16,906	SH		SOLE		16,906	0	0
EVERTEC INC	common stock	30040P103	436	17,643	SH		SOLE		17,643	0	0
Federated Enhanced Treasury Income Fund	common stock	314162108	2,927	214,782	SH		SOLE		214,782	0	0
Federated Premier Intermediate Municipal Income Fund	common stock	31423M105	2	150	SH		SOLE		150	0	0
First Opportunity Fund	common stock	33587T108	5,659	607,156	SH		SOLE		607,156	0	0
First Trust Dividend and Income Fund	common stock	33731L100	60	6,900	SH		SOLE		6,900	0	0
First Trust Enhanced Equity Income Fund	common stock	337318109	215	16,088	SH		SOLE		16,088	0	0
First Trust High Income Long/Short Fund	common stock	33738E109	1,441	81,294	SH		SOLE		81,294	0	0
First Trust Intermediate Duration Preferred & Income Fund	common stock	33718W103	819	37,006	SH		SOLE		37,006	0	0
First Trust Mortgage Income Fund	common stock	33734E103	1,400	88,938	SH		SOLE		88,938	0	0
First Trust Specialty Finance and Financial Opportunities Fund	common stock	33733G109	14	1,797	SH		SOLE		1,797	0	0
Flaherty & Crumrine Dynamic Preferred & Income Fund	common stock	33848W106	140	6,431	SH		SOLE		6,431	0	0
FOMENTO ECONOMICO MEX SP ADR	common stock	344419106	886	9,500	SH		SOLE		9,500	0	0
Ford Motor Co.	common stock	345370860	5	350	SH		SOLE		350	0	0
Fort Dearborn Income Securities Inc	common stock	347200107	78	5,400	SH		SOLE		5,400	0	0
Foxby Corp.	common stock	351645106	142	76,995	SH		SOLE		76,995	0	0
FREEPORT MCMORAN COPPER W/I	common stock	35671D857	893	27,000	SH		SOLE		27,000	0	0
FRESH DEL MONTE PRODUCE INC	common stock	G36738105	576	20,890	SH		SOLE		20,890	0	0
FUEGO ENTERPRISES INC	common stock	35953E201	171	513,210	SH		SOLE		513,210	0	0
Gabelli Dividend & Income Trust	common stock	36242H104	154	7,000	SH		SOLE		7,000	0	0
Gabelli Equity Trust	common stock	362397101	24	3,077	SH		SOLE		3,077	0	0
Gabelli Equity Trust Preferred Series D	preferred stock	362397705	21	848	SH		SOLE		848	0	0
Gabelli Equity Trust Preferred Series G	preferred stock	362397176	1,708	74,401	SH		SOLE		74,401	0	0
Gabelli Global Utility & Income Trust	common stock	36242L105	35	1,763	SH		SOLE		1,763	0	0
Gabelli Healthcare & Wellness (Rx) Trust	common stock	36246K103	1,392	134,610	SH		SOLE		134,610	0	0
GAMCO Global Gold, Natural Resources & Income Trust by Gabelli Preferred Series B	preferred stock	36465A307	1,006	47,449	SH		SOLE		47,449	0	0
GDL Fund	common stock	361570104	121	10,962	SH		SOLE		10,962	0	0
GDL Fund Preferred Series B	preferred stock	361570302	645	12,800	SH		SOLE		12,800	0	0
GELTECH SOLUTIONS INC	common stock	368537106	23	25,000	SH		SOLE		25,000	0	0
General American Investors	common stock	368802104	2,896	82,211	SH		SOLE		82,211	0	0
General American Investors Preferred Series B	preferred stock	368802401	125	4,900	SH		SOLE		4,900	0	0
GRUPO TELEVISA SA SPON ADR	common stock	40049J206	945	28,400	SH		SOLE		28,400	0	0
GRUPO TMM SA SP ADR A	common stock	40051D303	11	12,280	SH		SOLE		12,280	0	0
Guggenheim Build America Bonds	common stock	401664107	289	13,938	SH		SOLE		13,938	0	0
Guggenheim Equal Weight Enhanced Equity Income Fund	common stock	40167M106	202	10,752	SH		SOLE		10,752	0	0
H&Q Life Sciences Investors	common stock	404053100	144	6,600	SH		SOLE		6,600	0	0
Helios Strategic Income Fund	common stock	42328A203	1	166	SH		SOLE		166	0	0
Honda Motor Co., Ltd.	common stock	438128308	11	300	SH		SOLE		300	0	0
ING Global Advantage and Premium Opportunity Fund	common stock	92912R104	206	17,210	SH		SOLE		17,210	0	0
ING Risk Managed Natural Resources Fund	common stock	92913C106	108	10,250	SH		SOLE		10,250	0	0
Invesco California Value Municipal Income Trust	common stock	46132H106	59	5,000	SH		SOLE		5,000	0	0
Invesco Municipal Opportunity Trust	common stock	46132C107	66	5,450	SH		SOLE		5,450	0	0
iShares Barclays TIPS Bond Fund	common stock	464287176	84	750	SH		SOLE		750	0	0
ISHARES LATIN AMERICA 40 ETF INDEX	common stock	464287390	256	7,000	SH		SOLE		7,000	0	0
Japan Equity Fund	common stock	00306J109	1,614	247,309	SH		SOLE		247,309	0	0
Japan Smaller Capitalization Fund	common stock	47109U104	938	107,086	SH		SOLE		107,086	0	0
John Hancock Hedged Equity & Income Fund	common stock	47804L102	235	13,401	SH		SOLE		13,401	0	0
John Hancock Premium Dividend Fund	common stock	41013T105	47	3,642	SH		SOLE		3,642	0	0
John Hancock Tax-Advantaged Dividend Income Fund	common stock	41013V100	121	6,052	SH		SOLE		6,052	0	0
JPMorgan China Region Fund	common stock	48126T104	202	14,179	SH		SOLE		14,179	0	0
JZ Capital Partners Ltd Ord	common stock	G5216J134	443	60,000	SH		SOLE		60,000	0	0
Kayne Anderson Energy Total Return Fund	common stock	48660P104	571	20,900	SH		SOLE		20,900	0	0
Kayne Anderson Midstream/Energy Fund	common stock	48661E108	976	28,756	SH		SOLE		28,756	0	0
Korea Fund	common stock	500634209	1,321	32,924	SH		SOLE		32,924	0	0
LATIN AMERICAN DISCOVERY FUND	common stock	51828C106	10	800	SH		SOLE		800	0	0
Legg Mason BW Global Income Opportunities Fund	common stock	52469B100	74	4,206	SH		SOLE		4,206	0	0
LENNAR CORP A	common stock	526057104	1,605	40,500	SH		SOLE		40,500	0	0
Liberty All-Star Equity Fund	common stock	530158104	2,377	404,283	SH		SOLE		404,283	0	0
Liberty All-Star Growth Fund	common stock	529900102	17	3,094	SH		SOLE		3,094	0	0
LMP Capital and Income Fund, Inc.	common stock	50208A102	779	48,381	SH		SOLE		48,381	0	0
Macquarie Global Infrastructure Total Return Fund	common stock	55608D101	612	26,052	SH		SOLE		26,052	0	0
Madison Covered Call and Equity Strategy Fund	common stock	557437100	8	1,000	SH		SOLE		1,000	0	0
Madison Strategic Sector Premium Fund	common stock	558268108	95	7,785	SH		SOLE		7,785	0	0
MARGO CARIBE INC	common stock	566605101	180	64,239	SH		SOLE		64,239	0	0
Market Vectors Gold Miners ETF	common stock	57060U100	71	3,000	SH		SOLE		3,000	0	0
MARTIN MARIETTA MATERIALS	common stock	573284106	244	1,900	SH		SOLE		1,900	0	0
MASTEC INC	common stock	576323109	1,946	44,800	SH		SOLE		44,800	0	0
MEXICO EQUITY + INCOME FUND INC	common stock	592834105	224	15,418	SH		SOLE		15,418	0	0
MFS California Municipal Fund	common stock	59318C106	93	8,796	SH		SOLE		8,796	0	0
MFS Intermarket Income Trust I	common stock	59318R103	217	26,056	SH		SOLE		26,056	0	0
MFS Investment Grade Municipal Trust	common stock	59318B108	37	4,157	SH		SOLE		4,157	0	0
Montgomery Street Income Securities	common stock	614115103	1,269	78,850	SH		SOLE		78,850	0	0
Morgan Stanley Asia Pacific Fund	common stock	61744U106	461	27,325	SH		SOLE		27,325	0	0
Morgan Stanley Eastern Europe Fund	common stock	616988101	29	1,615	SH		SOLE		1,615	0	0
Morgan Stanley Emerging Market Debt Fund	common stock	61744H105	218	21,999	SH		SOLE		21,999	0	0
Morgan Stanley Emerging Markets Domestic Debt Fund	common stock	617477104	1,886	143,718	SH		SOLE		143,718	0	0
Morgan Stanley Emerging Markets Fund	common stock	61744G107	35	2,264	SH		SOLE		2,264	0	0
Morgan Stanley Income Securities	common stock	61745P874	283	16,121	SH		SOLE		16,121	0	0
Morgan Stanley India Investment Fund	common stock	61745C105	120	6,131	SH		SOLE		6,131	0	0
MVC Capital	common stock	553829102	35	2,618	SH		SOLE		2,618	0	0
MVC Capital Preferred Series B	preferred stock	553829201	51	2,000	SH		SOLE		2,000	0	0
Nasdaq Premium Income & Growth Fund	common stock	63110R105	22	1,185	SH		SOLE		1,185	0	0
Neuberger Berman High Yield Strategies Fund	common stock	64128C106	24	1,743	SH		SOLE		1,743	0	0
Neuberger Berman MLP Income Fund	common stock	64129H104	162	9,001	SH		SOLE		9,001	0	0
Neuberger Berman Real Estate Securities Income Fund	common stock	64190A103	730	154,642	SH		SOLE		154,642	0	0
New America High Income Fund	common stock	641876800	20	2,000	SH		SOLE		2,000	0	0
New Germany Fund	common stock	644465106	1,110	57,028	SH		SOLE		57,028	0	0
New Ireland Fund	common stock	645673104	125	8,732	SH		SOLE		8,732	0	0
NexPoint Credit Strategies Fund	common stock	65340G106	681	61,525	SH		SOLE		61,525	0	0
NORFOLK SOUTHERN CORP	common stock	655844108	777	8,000	SH		SOLE		8,000	0	0
NORWEGIAN CRUISE LINE HOLDIN	common stock	G66721104	1,108	34,343	SH		SOLE		34,343	0	0
Nuveen AMT-Free Municipal Income Fund	common stock	670657105	84	6,500	SH		SOLE		6,500	0	0
Nuveen Arizona Premium Income Municipal Fund	common stock	67061W104	64	5,000	SH		SOLE		5,000	0	0
Nuveen Build America Bond Fund	common stock	67074C103	247	12,602	SH		SOLE		12,602	0	0
Nuveen Build America Bond Opportunity Fund	common stock	67074Q102	363	17,713	SH		SOLE		17,713	0	0
Nuveen California AMT-Free Municipal Income Fund	common stock	670651108	1,310	98,467	SH		SOLE		98,467	0	0
Nuveen California Dividend Advantage Municipal Fund 3	common stock	67070Y109	148	12,150	SH		SOLE		12,150	0	0
Nuveen California Premium Income Municipal Fund, 2.00% MTP Pfd 10/1/2015	preferred stock	6706L0300	10	1,000	SH		SOLE		1,000	0	0
Nuveen Core Equity Alpha Fund	common stock	67090X107	23	1,313	SH		SOLE		1,313	0	0
Nuveen CT Premium Income Municipal Fund	common stock	67060D107	107	8,808	SH		SOLE		8,808	0	0
Nuveen Diversified Dividend and Income Fund	common stock	6706EP105	2	151	SH		SOLE		151	0	0
Nuveen Dividend Advantage Municipal Fund 2	common stock	67070F100	68	5,000	SH		SOLE		5,000	0	0
Nuveen Dividend Advantage Municipal Fund 3	common stock	67070X101	2,059	157,175	SH		SOLE		157,175	0	0
Nuveen Dividend Advantage Municipal Income Fund	common stock	67071L106	862	64,658	SH		SOLE		64,658	0	0
Nuveen Diviersified Currency Opportunities Fund	common stock	67090N109	1,433	136,563	SH		SOLE		136,563	0	0
Nuveen Equity Premium Advantage Fund	common stock	6706ET107	174	13,705	SH		SOLE		13,705	0	0
Nuveen Equity Premium and Growth Fund	common stock	6706EW100	85	6,001	SH		SOLE		6,001	0	0
Nuveen Equity Premium Income Fund	common stock	6706ER101	67	5,310	SH		SOLE		5,310	0	0
Nuveen Flexible Investment Income Fund	common stock	67075B104	154	9,001	SH		SOLE		9,001	0	0
Nuveen Floating Rate Income Opportunity Fund	common stock	6706EN100	24	2,000	SH		SOLE		2,000	0	0
Nuveen Georgia Dividend Advantage Municipal Fund 2, 2.65% MTP Pfd 2/1/2015	preferred stock	67072B305	25	2,500	SH		SOLE		2,500	0	0
Nuveen Georgia Dividend Advantage Municipal Fund, 2.65% Pfd, Series 2015 #1	preferred stock	67072B404	10	1,000	SH		SOLE		1,000	0	0
Nuveen Georgia Dividend Advantage Municipal Fund, 2.65% Pfd, Series 2015 #2	preferred stock	67072B503	20	2,000	SH		SOLE		2,000	0	0
Nuveen Intermediate Duration Municipal Term Fund	common stock	670671106	210	17,520	SH		SOLE		17,520	0	0
Nuveen Intermediate Duration Quality Municipal Fund	common stock	670677103	121	9,950	SH		SOLE		9,950	0	0
Nuveen Maryland Premium Income Municipal Fund, 2.65% MTP Pfd 2/1/2015	preferred stock	67061Q404	20	2,000	SH		SOLE		2,000	0	0
Nuveen Michigan Quality Income Municipal Fund	common stock	670979103	80	5,918	SH		SOLE		5,918	0	0
Nuveen Municipal Market Opportunity Fund	common stock	67062W103	697	54,633	SH		SOLE		54,633	0	0
Nuveen New Jersey Dividend Advantage Municipal Fund 2	common stock	67071T109	111	8,600	SH		SOLE		8,600	0	0
Nuveen Preferred & Income Term Fund	common stock	67075A106	52	2,300	SH		SOLE		2,300	0	0
Nuveen Premier Municipal Income Fund	common stock	670988104	11	800	SH		SOLE		800	0	0
Nuveen Premium Income Municipal Fund 2	common stock	67063W102	153	11,432	SH		SOLE		11,432	0	0
Nuveen Quality Income Municipal Fund	common stock	670977107	63	4,725	SH		SOLE		4,725	0	0
Nuveen Quality Municipal Fund	common stock	67062N103	89	7,000	SH		SOLE		7,000	0	0
Nuveen Quality Preferred Income Fund 3	common stock	67072W101	784	93,659	SH		SOLE		93,659	0	0
Nuveen Real Asset Income & Growth Fund	common stock	67074Y105	1,673	90,971	SH		SOLE		90,971	0	0
Nuveen Select Quality Municipal Fund	common stock	670973106	56	4,200	SH		SOLE		4,200	0	0
Nuveen Tax - Advantaged Dividend Growth Fund	common stock	67073G105	2	150	SH		SOLE		150	0	0
Oxford Lane Capital, 7.50% Pfd Series 2023	preferred stock	691543300	2,165	90,311	SH		SOLE		90,311	0	0
Pacholder High Yield Fund	common stock	693742108	8	1,000	SH		SOLE		1,000	0	0
Petroleum & Resources Corp.	common stock	716549100	4,838	173,273	SH		SOLE		173,273	0	0
PIMCO Dynamic Credit Income Fund	common stock	72202D106	3,626	160,430	SH		SOLE		160,430	0	0
PIMCO Dynamic Income Fund	common stock	72201Y101	553	18,251	SH		SOLE		18,251	0	0
POPULAR INC	common stock	733174700	186	6,000	SH		SOLE		6,000	0	0
PRICESMART INC	common stock	741511109	101	1,000	SH		SOLE		1,000	0	0
Putnam High Income Securities Fund	common stock	746779107	1,366	163,259	SH		SOLE		163,259	0	0
Putnam Master Intermediate Income Trust	common stock	746909100	363	70,528	SH		SOLE		70,528	0	0
Putnam Municipal Opportunities Trust	common stock	746922103	9	800	SH		SOLE		800	0	0
Putnam Premier Income Trust	common stock	746853100	2,060	372,466	SH		SOLE		372,466	0	0
Rand Capital Corp.	common stock	752185108	7	2,000	SH		SOLE		2,000	0	0
RENN Global Entrepreneurs Fund	common stock	759720105	181	106,588	SH		SOLE		106,588	0	0
RMR Real Estate Income Fund	common stock	76970B101	2,690	144,931	SH		SOLE		144,931	0	0
ROYAL CARIBBEAN CRUISES LTD	common stock	V7780T103	1,637	30,000	SH		SOLE		30,000	0	0
Royce Focus Trust	common stock	78080N108	382	47,928	SH		SOLE		47,928	0	0
Royce Global Value Trust	common stock	78081T104	153	17,073	SH		SOLE		17,073	0	0
Royce Micro-Cap Trust, Inc.	common stock	780915104	697	56,928	SH		SOLE		56,928	0	0
Royce Value Trust	common stock	780910105	2,371	150,716	SH		SOLE		150,716	0	0
SEABOARD CORP	common stock	811543107	2,666	1,017	SH		SOLE		1,017	0	0
SEACOR HOLDINGS INC	common stock	811904101	173	2,000	SH		SOLE		2,000	0	0
Source Capital	common stock	836144105	294	4,287	SH		SOLE		4,287	0	0
SPANISH BROADCASTING SYS A	common stock	846425833	47	8,030	SH		SOLE		8,030	0	0
Special Opportunities Fund	common stock	84741T104	185	11,387	SH		SOLE		11,387	0	0
Starbucks Corporation	common stock	855244109	44	600	SH		SOLE		600	0	0
STEINER LEISURE LTD	common stock	P8744Y102	900	19,467	SH		SOLE		19,467	0	0
Swiss Helvetia Fund	common stock	870875101	17	1,173	SH		SOLE		1,173	0	0
TAHOE RESOURCES INC	common stock	873868103	505	23,900	SH		SOLE		23,900	0	0
Taiwan Fund	common stock	874036106	42	2,226	SH		SOLE		2,226	0	0
TCW Strategic Income Fund	common stock	872340104	485	88,891	SH		SOLE		88,891	0	0
TECO ENERGY INC	common stock	872375100	695	40,500	SH		SOLE		40,500	0	0
TEEKAY LNG PARTNERS LP	common stock	Y8564M105	346	8,361	SH		SOLE		8,361	0	0
Templeton Dragon Fund	common stock	88018T101	325	13,270	SH		SOLE		13,270	0	0
Thai Fund, Inc.	common stock	882904105	653	60,315	SH		SOLE		60,315	0	0
The Herzfeld Caribbean Basin Fund	common stock	42804T106	2,363	289,244	SH		DFND		229,787	59,457	0
Tim Hortons, Inc.	common stock	88706M103	1	13	SH		SOLE		13	0	0
Tortoise Energy Independence Fund, Inc.	common stock	89148K101	505	20,360	SH		SOLE		20,360	0	0
Tortoise Energy Infrastructure, 3.75% Preferred Series B	preferred stock	89147L704	24	2,600	SH		SOLE		2,600	0	0
Tortoise Pipeline & Energy Fund	common stock	89148H108	521	17,897	SH		SOLE		17,897	0	0
Transamerica Income Shares	common stock	893506105	9	429	SH		SOLE		429	0	0
Tri-Continental Corp.	common stock	895436103	4,362	217,236	SH		SOLE		217,236	0	0
Tri-Continental Corp., $2.50 Cumulative Preferred Stock	preferred stock	895436202	23	500	SH		SOLE		500	0	0
Turkish Investment Fund	common stock	900145103	53	4,880	SH		SOLE		4,880	0	0
ULTRAPETROL (BAHAMAS) LTD	common stock	P94398107	112	36,000	SH		SOLE		36,000	0	0
Virtus Total Return Fund	common stock	92829A103	5,260	1,190,135	SH		SOLE		1,190,135	0	0
VULCAN MATERIALS CO	common stock	929160109	266	4,000	SH		SOLE		4,000	0	0
WATSCO INC	common stock	942622200	1,329	13,300	SH		SOLE		13,300	0	0
Wells Fargo Advantage Global Dividend Opportunity Fund	common stock	94987C103	118	15,002	SH		SOLE		15,002	0	0
Wells Fargo Multi-Sector Income Fund	common stock	94987D101	62	4,300	SH		SOLE		4,300	0	0
Western Asset High Yield Defined Opportunity Fund	common stock	95768B107	280	15,669	SH		SOLE		15,669	0	0
Western Asset Municipal High Income Fund, Inc.	common stock	95766N103	7	1,000	SH		SOLE		1,000	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Inc.	common stock	95766R104	489	42,075	SH		SOLE		42,075	0	0
Western Asset/Claymore Inflation-Linked Securities & Income	common stock	95766Q106	133	11,421	SH		SOLE		11,421	0	0
WESTERN UNION CO	common stock	959802109	196	12,000	SH		SOLE		12,000	0	0
Zweig Fund	common stock	989834205	262	17,238	SH		SOLE		17,238	0	0
Zweig Total Return Fund	common stock	989837208	1,362	96,843	SH		SOLE		96,843	0	0