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
Expires:	Oct 31, 2018
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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, Inc.	common stock	003009107	1,384	220,399	SH		SOLE		220,399	0	0
Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc.	common stock	00301T102	71	4,964	SH		SOLE		4,964	0	0
Aberdeen Indonesia Fund, Inc.	common stock	00305P106	248	26,152	SH		SOLE		26,152	0	0
Aberdeen Israel Fund, Inc.	common stock	00301L109	49	2,750	SH		SOLE		2,750	0	0
Aberdeen Japan Equity Fund, Inc.	common stock	00306J109	1,772	249,199	SH		SOLE		249,199	0	0
Aberdeen Latin America Equity Fund, Inc.	common stock	00306K106	3	88	SH		SOLE		88	0	0
Aberdeen Singapore Fund, Inc.	common stock	003244100	346	26,489	SH		SOLE		26,489	0	0
Adams Express Company	common stock	006212104	4,930	358,526	SH		SOLE		358,526	0	0
Advent/Claymore Enhanced Growth & Income Fund	common stock	00765E104	165	15,993	SH		SOLE		15,993	0	0
Alliance California Municipal Income Fund	common stock	018546101	234	17,762	SH		SOLE		17,762	0	0
Alliance New York Municipal Income Fund, Inc.	common stock	018714105	2	150	SH		SOLE		150	0	0
AllianceBernstein Global High Income Fund, Inc.	common stock	01879R106	262	18,253	SH		SOLE		18,253	0	0
AllianceBernstein Income Fund	common stock	01881E101	1,114	148,149	SH		SOLE		148,149	0	0
AllianzGI Equity & Convertible Income Fund	common stock	018829101	1,419	70,267	SH		SOLE		70,267	0	0
Alpine Global Dynamic Dividend Fund	common stock	02082E205	2,804	266,765	SH		SOLE		266,765	0	0
Alpine Total Dynamic Dividend Fund	common stock	021060207	5,130	575,069	SH		SOLE		575,069	0	0
America Movil S.A.B. de C.V.	common stock	02364W105	927	44,690	SH		SOLE		44,690	0	0
American Income Fund, Inc.	common stock	02672T109	1,355	174,342	SH		SOLE		174,342	0	0
American Select Portfolio Inc.	common stock	029570108	2,082	194,605	SH		SOLE		194,605	0	0
American Strategic Income Portfolio Inc. II	common stock	030099105	443	50,420	SH		SOLE		50,420	0	0
American Strategic Income Portfolio, Inc.	common stock	030098107	34	3,301	SH		SOLE		3,301	0	0
Apollo Tactical Income Fund Inc	common stock	037638103	523	28,496	SH		SOLE		28,496	0	0
Ares Multi-Strategy Credit Fund	common stock	04014Q108	72	3,316	SH		SOLE		3,316	0	0
ASA Gold and Precious Metals Limited	common stock	G3156P103	151	10,307	SH		SOLE		10,307	0	0
Asia Pacific Fund	common stock	044901106	57	5,150	SH		SOLE		5,150	0	0
Atlantic Tele Network, Inc.	common stock	049079205	464	8,000	SH		SOLE		8,000	0	0
Avenue Income Credit Strategies Fund	common stock	05358E106	165	9,185	SH		SOLE		9,185	0	0
Avianca Holdings S.A.	common stock	05367G100	80	5,000	SH		SOLE		5,000	0	0
Bancolombia S.A.	common stock	05968L102	1,230	21,280	SH		SOLE		21,280	0	0
Bancroft Fund Ltd.	common stock	059695106	775	38,386	SH		SOLE		38,386	0	0
BlackRock Credit Allocation Income Trust	common stock	092508100	2,455	178,544	SH		SOLE		178,544	0	0
BlackRock Energy & Resources Trust	common stock	09250U101	244	9,035	SH		SOLE		9,035	0	0
BlackRock Enhanced Equity Dividend Trust	common stock	09251A104	1,564	186,435	SH		SOLE		186,435	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	43	2,301	SH		SOLE		2,301	0	0
BlackRock Municipal Income Investment Quality Trust	common stock	09250G102	57	4,000	SH		SOLE		4,000	0	0
BlackRock Municipal Target Term Trust	common stock	09257P105	12	601	SH		SOLE		601	0	0
Blackrock MuniYield Michigan Quality Fund	common stock	09254V105	95	6,800	SH		SOLE		6,800	0	0
Blackrock MuniYield Michigan Quality Fund II	common stock	09254W103	228	17,550	SH		SOLE		17,550	0	0
BlackRock Resources & Commodities Strategy Trust	common stock	09257A108	208	16,756	SH		SOLE		16,756	0	0
BlackRock S&P Quality Rankings Global Equity Managed Trust	common stock	09250D109	36	2,650	SH		SOLE		2,650	0	0
BlackRock Utility & Infrastructure Trust	common stock	09248D104	105	5,000	SH		SOLE		5,000	0	0
Blackstone/GSO Strategic Credit Fund	common stock	09257R101	249	14,001	SH		SOLE		14,001	0	0
Boulder Growth and Income Fund, Inc.	common stock	101507101	1,219	143,031	SH		SOLE		143,031	0	0
Boulder Total Return Fund, Inc.	common stock	101541100	715	27,876	SH		SOLE		27,876	0	0
Brookfield Global Listed Infrastructure Income Fund, Inc.	common stock	11273Q109	741	29,571	SH		SOLE		29,571	0	0
Brookfield Mortgage Opportunity Income Fund	common stock	112792106	88	5,001	SH		SOLE		5,001	0	0
Brookfield Total Return Fund Inc.	common stock	11283U108	201	8,000	SH		SOLE		8,000	0	0
Car Charging Group, Inc.	common stock	14074Y206	8	10,000	SH		SOLE		10,000	0	0
Carnival Corp.	common stock	143658300	1,167	31,000	SH		SOLE		31,000	0	0
Cemex, S.A.B. de C.V.	common stock	151290889	751	56,743	SH		SOLE		56,743	0	0
Center Coast MLP & Infrastructure Fund	common stock	151461100	421	22,001	SH		SOLE		22,001	0	0
Central Europe Russia and Turkey Fund	common stock	153436100	130	4,448	SH		SOLE		4,448	0	0
Central Fund of Canada Limited (USA)	common stock	153501101	116	8,000	SH		SOLE		8,000	0	0
Central Securities Corp.	common stock	155123102	672	28,651	SH		SOLE		28,651	0	0
China Fund, Inc.	common stock	169373107	106	5,000	SH		SOLE		5,000	0	0
Chiquita Brands International Inc.	common stock	170032809	1,033	95,244	SH		SOLE		95,244	0	0
Clough Global Allocation Fund	common stock	18913Y103	604	38,994	SH		SOLE		38,994	0	0
Clough Global Equity Fund	common stock	18914C100	939	60,629	SH		SOLE		60,629	0	0
Clough Global Opportunities Fund	common stock	18914E106	2,966	228,131	SH		SOLE		228,131	0	0
Coca Cola Femsa S.A.B. de C.V.	common stock	191241108	2,227	19,602	SH		SOLE		19,602	0	0
Cohen & Steers Infrastructure Fund, Inc.	common stock	19248A109	2,272	92,773	SH		SOLE		92,773	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund	common stock	19249B106	140	6,571	SH		SOLE		6,571	0	0
Cohen & Steers REIT & Preferred Income Fund Inc.	common stock	19247X100	606	33,591	SH		SOLE		33,591	0	0
Cohen & Steers Total Return Realty Fund	common stock	19247R103	637	51,382	SH		SOLE		51,382	0	0
Consolidated Water Co. Ltd.	common stock	G23773107	1,224	104,013	SH		SOLE		104,013	0	0
Consumer Discret Select Sector SPDR ETF	common stock	81369Y407	15	225	SH		SOLE		225	0	0
Copa Holdings SA	common stock	P31076105	2,452	17,200	SH		SOLE		17,200	0	0
Cornerstone Strategic Value Fund Inc.	common stock	21924B203	12	1,972	SH		SOLE		1,972	0	0
Cushing Renaissance Fund	common stock	231647108	417	14,677	SH		SOLE		14,677	0	0
Cyberonics, Inc.	common stock	23251P102	1,145	18,330	SH		SOLE		18,330	0	0
Delaware Enhanced Global Dividend & Income Fund	common stock	246060107	605	47,571	SH		SOLE		47,571	0	0
Delaware Investments Dividend & Income Fund, Inc.	common stock	245915103	104	9,926	SH		SOLE		9,926	0	0
Desarrolladora Hom, SAB de CV	common stock	25030W100	5	6,100	SH		SOLE		6,100	0	0
Dividend and Income Fund	common stock	25538A204	264	16,570	SH		SOLE		16,570	0	0
DoubleLine Income Solutions Fund	common stock	258622109	1,405	62,541	SH		SOLE		62,541	0	0
Dreyfus Municipal Bond Infrastructure Fund, Inc.	common stock	26203D101	57	4,801	SH		SOLE		4,801	0	0
Duff & Phelps Global Utility Income Fund, Inc.	common stock	26433C105	53	2,410	SH		SOLE		2,410	0	0
DWS Global High Income Fund	common stock	25158V108	15	1,802	SH		SOLE		1,802	0	0
DWS Multi-Market Income Trust	common stock	25160E102	45	4,751	SH		SOLE		4,751	0	0
DWS Strategic Income Trust	common stock	25160F109	26	2,000	SH		SOLE		2,000	0	0
Eaton Vance California Municipal Bond Fund	common stock	27828A100	117	10,109	SH		SOLE		10,109	0	0
Eaton Vance California Municipal Income Trust	common stock	27826F101	136	10,868	SH		SOLE		10,868	0	0
Eaton Vance Floating-Rate Income Plus Fund	common stock	278284104	168	9,331	SH		SOLE		9,331	0	0
Eaton Vance Limited Duration Income Fund	common stock	27828H105	85	5,440	SH		SOLE		5,440	0	0
Eaton Vance Michigan Municipal Income Trust	common stock	27826D106	160	12,821	SH		SOLE		12,821	0	0
Eaton Vance Municipal Income Term Trust	common stock	27829U105	19	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	7	500	SH		SOLE		500	0	0
Eaton Vance Risk-Managed Diversified Equity Income Fund	common stock	27829G106	71	6,125	SH		SOLE		6,125	0	0
Eaton Vance Tax-Advantaged Dividend Income Fund	common stock	27828G107	315	15,207	SH		SOLE		15,207	0	0
EGShares Emerging Markets Consumer	common stock	268461779	2	72	SH		SOLE		72	0	0
Equus Total Return, Inc.	common stock	294766100	229	92,292	SH		SOLE		92,292	0	0
Era Group Inc.	common stock	26885G109	92	3,215	SH		SOLE		3,215	0	0
European Equity Fund, Inc.	common stock	298768102	153	16,996	SH		SOLE		16,996	0	0
Evertec Inc.	common stock	30040P103	428	17,643	SH		SOLE		17,643	0	0
Federated Enhanced Treasury Income Fund	common stock	314162108	2,747	203,617	SH		SOLE		203,617	0	0
Federated Premier Intermediate Municipal Income Fund	common stock	31423M105	2	150	SH		SOLE		150	0	0
FedEx Corporation	common stock	31428X106	76	500	SH		SOLE		500	0	0
Financial Select Sector SPDR ETF	common stock	81369Y605	7	302	SH		SOLE		302	0	0
First Opportunity Fund, Inc.	common stock	33587T108	6,007	624,383	SH		SOLE		624,383	0	0
First Trust Dow Jones Internet Index	common stock	33733E302	6	97	SH		SOLE		97	0	0
First Trust High Income Long/Short Fund	common stock	33738E109	2,019	111,234	SH		SOLE		111,234	0	0
First Trust Intermediate Duration Preferred & Income Fund	common stock	33718W103	1,130	49,392	SH		SOLE		49,392	0	0
First Trust ISE Cloud Computing Index	common stock	33734X192	6	209	SH		SOLE		209	0	0
First Trust Mortgage Income Fund	common stock	33734E103	1,342	84,595	SH		SOLE		84,595	0	0
First Trust Specialty Finance and Financial Opportunities Fund	common stock	33733G109	15	1,797	SH		SOLE		1,797	0	0
Flaherty & Crumrine Dynamic Preferred & Income Fund	common stock	33848W106	152	6,431	SH		SOLE		6,431	0	0
Fomento Economico Mexicano, S.A.B. de C.V.	common stock	344419106	890	9,500	SH		SOLE		9,500	0	0
Fort Dearborn Income Securities, Inc	common stock	347200107	80	5,400	SH		SOLE		5,400	0	0
Foxby Corp.	common stock	351645106	147	76,580	SH		SOLE		76,580	0	0
Freeport McMoran Copper & Gold	common stock	35671D857	986	27,000	SH		SOLE		27,000	0	0
Fresh Del Monte Produce Inc.	common stock	G36738105	518	16,890	SH		SOLE		16,890	0	0
Gabelli Dividend & Income Trust	common stock	36242H104	153	7,000	SH		SOLE		7,000	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	1,531	67,401	SH		SOLE		67,401	0	0
Gabelli Equity Trust, Inc.	common stock	362397101	24	3,138	SH		SOLE		3,138	0	0
Gabelli Global Small and Mid-Cap Value Fund	common stock	36249W104	8	700	SH		SOLE		700	0	0
Gabelli Global Utility & Income Trust	common stock	36242L105	37	1,763	SH		SOLE		1,763	0	0
Gabelli Healthcare & Wellness (Rx) Trust	common stock	36246K103	1,390	134,653	SH		SOLE		134,653	0	0
GAMCO Global Gold, Natural Resources & Income Trust by Gabelli Preferred Series B	preferred stock	36465A307	934	43,324	SH		SOLE		43,324	0	0
GDL Fund	common stock	361570104	108	9,961	SH		SOLE		9,961	0	0
GDL Fund Preferred Series B	preferred stock	361570302	644	12,800	SH		SOLE		12,800	0	0
General American Investors Company, Inc.	common stock	368802104	3,283	89,166	SH		SOLE		89,166	0	0
Goldman Sachs MLP Income Opportunities Fund	common stock	38147W103	443	21,301	SH		SOLE		21,301	0	0
Grupo Televisa, S.A.B.	common stock	40049J206	974	28,400	SH		SOLE		28,400	0	0
Grupo TMM S.A.B.	common stock	40051D303	11	12,280	SH		SOLE		12,280	0	0
Guggenheim Build America Bonds	common stock	401664107	182	8,258	SH		SOLE		8,258	0	0
Guggenheim Equal Weight Enhanced Equity Income Fund	common stock	40167M106	184	9,190	SH		SOLE		9,190	0	0
H&Q Healthcare Investors	common stock	404052102	594	22,549	SH		SOLE		22,549	0	0
H&Q Life Sciences Investors	common stock	404053100	39	1,864	SH		SOLE		1,864	0	0
Health Care Select Sector SPDR ETF	common stock	81369Y209	13	211	SH		SOLE		211	0	0
Invesco California Value Municipal Income Trust	common stock	46132H106	62	5,000	SH		SOLE		5,000	0	0
Invesco Municipal Opportunity Trust	common stock	46132C107	76	6,050	SH		SOLE		6,050	0	0
Invesco Quality Municipal Income Trust	common stock	46133G107	7	600	SH		SOLE		600	0	0
iShares 3-7 Year Treasury Bond	common stock	464288661	1	6	SH		SOLE		6	0	0
iShares Core MSCI Emerging Market	common stock	46434G103	6	116	SH		SOLE		116	0	0
iShares iBoxx $ Investment Grade Corporate Bond	common stock	464287242	2	20	SH		SOLE		20	0	0
iShares MBS	common stock	464288588	4	38	SH		SOLE		38	0	0
iShares MSCI Canada	common stock	464286509	3	81	SH		SOLE		81	0	0
iShares MSCI EMU Index	common stock	464286608	14	322	SH		SOLE		322	0	0
iShares MSCI Pacific ex-Japan	common stock	464286665	3	51	SH		SOLE		51	0	0
iShares MSCI Sweden	common stock	464286756	1	33	SH		SOLE		33	0	0
iShares MSCI Switzerland Capped Index	common stock	464286749	3	99	SH		SOLE		99	0	0
iShares MSCI United Kingdom	common stock	464286699	6	282	SH		SOLE		282	0	0
iShares Nasdaq Biotechnology	common stock	464287556	9	36	SH		SOLE		36	0	0
iShares TIPS Bond	common stock	464287176	48	420	SH		SOLE		420	0	0
Japan Smaller Capitalization Fund Inc.	common stock	47109U104	1,012	107,086	SH		SOLE		107,086	0	0
John Hancock Premium Dividend Fund	common stock	41013T105	50	3,666	SH		SOLE		3,666	0	0
John Hancock Tax-Advantaged Dividend Income Fund	common stock	41013V100	150	7,160	SH		SOLE		7,160	0	0
JPMorgan China Region Fund, Inc.	common stock	48126T104	168	11,067	SH		SOLE		11,067	0	0
Kayne Anderson Energy Total Return Fund	common stock	48660P104	748	23,060	SH		SOLE		23,060	0	0
Kayne Anderson Midstream/Energy Fund	common stock	48661E108	1,930	47,630	SH		SOLE		47,630	0	0
KKR Income Opportunities Fund	common stock	48249T106	56	3,001	SH		SOLE		3,001	0	0
Latin American Discovery Fund Inc.	common stock	51828C106	11	800	SH		SOLE		800	0	0
Legg Mason BW Global Income Opportunities Fund	common stock	52469B100	77	4,206	SH		SOLE		4,206	0	0
Lennar Corp.	common stock	526057104	1,700	40,500	SH		SOLE		40,500	0	0
Liberty All-Star Equity Fund	common stock	530158104	2,562	426,285	SH		SOLE		426,285	0	0
Liberty All-Star Growth Fund, Inc.	common stock	529900102	17	3,141	SH		SOLE		3,141	0	0
LMP Capital and Income Fund, Inc.	common stock	50208A102	819	46,180	SH		SOLE		46,180	0	0
Macquarie Global Infrastructure Total Return Fund Inc.	common stock	55608D101	633	24,620	SH		SOLE		24,620	0	0
Market Vectors EM Local Currency Bond ETF	common stock	57060U522	1	33	SH		SOLE		33	0	0
Market Vectors Gold Miners ETF	common stock	57060U100	79	3,000	SH		SOLE		3,000	0	0
Martin Marietta Materials Inc.	common stock	573284106	251	1,900	SH		SOLE		1,900	0	0
MasTec, Inc.	common stock	576323109	1,852	60,100	SH		SOLE		60,100	0	0
Mexico Equity and Income Fund, Inc.	common stock	592834105	240	14,886	SH		SOLE		14,886	0	0
MFS California Municipal Fund	common stock	59318C106	97	8,796	SH		SOLE		8,796	0	0
MFS Intermarket Income Trust I	common stock	59318R103	222	26,056	SH		SOLE		26,056	0	0
MFS Investment Grade Municipal Trust	common stock	59318B108	2	250	SH		SOLE		250	0	0
Montgomery Street Income Securities, Inc.	common stock	614115103	1,232	73,862	SH		SOLE		73,862	0	0
Morgan Stanley Asia Pacific Fund	common stock	61744U106	261	15,600	SH		SOLE		15,600	0	0
Morgan Stanley Eastern Europe Fund Inc.	common stock	616988101	30	1,615	SH		SOLE		1,615	0	0
Morgan Stanley Emerging Market Debt Fund, Inc.	common stock	61744H105	202	19,899	SH		SOLE		19,899	0	0
Morgan Stanley Emerging Markets Domestic Debt Fund	common stock	617477104	781	58,660	SH		SOLE		58,660	0	0
Morgan Stanley Emerging Markets Fund, Inc.	common stock	61744G107	36	2,264	SH		SOLE		2,264	0	0
Morgan Stanley Income Securities Inc.	common stock	61745P874	188	10,425	SH		SOLE		10,425	0	0
Morgan Stanley India Investment Fund	common stock	61745C105	128	5,531	SH		SOLE		5,531	0	0
MVC Capital, Inc.	common stock	553829102	34	2,618	SH		SOLE		2,618	0	0
Nasdaq Premium Income & Growth Fund	common stock	63110R105	23	1,207	SH		SOLE		1,207	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	182	9,001	SH		SOLE		9,001	0	0
Neuberger Berman Real Estate Securities Income Fund	common stock	64190A103	823	164,694	SH		SOLE		164,694	0	0
New America High Income Fund, Inc.	common stock	641876800	20	2,000	SH		SOLE		2,000	0	0
New Germany Fund, Inc.	common stock	644465106	1,223	65,511	SH		SOLE		65,511	0	0
New Ireland Fund, Inc.	common stock	645673104	150	11,032	SH		SOLE		11,032	0	0
NexPoint Credit Strategies Fund	common stock	65340G106	332	27,500	SH		SOLE		27,500	0	0
Norfolk Southern Corp.	common stock	655844108	567	5,500	SH		SOLE		5,500	0	0
Norwegian Cruise Line Holdings Ltd.	common stock	G66721104	1,219	38,443	SH		SOLE		38,443	0	0
Nuveen AMT-Free Municipal Income Fund	common stock	670657105	88	6,500	SH		SOLE		6,500	0	0
Nuveen Build America Bond Fund	common stock	67074C103	185	9,025	SH		SOLE		9,025	0	0
Nuveen Build America Bond Opportunity Fund	common stock	67074Q102	495	23,013	SH		SOLE		23,013	0	0
Nuveen California AMT-Free Municipal Income Fund	common stock	670651108	1,674	122,607	SH		SOLE		122,607	0	0
Nuveen California Dividend Advantage Municipal Fund 3	common stock	67070Y109	155	12,150	SH		SOLE		12,150	0	0
Nuveen Core Equity Alpha Fund	common stock	67090X107	24	1,334	SH		SOLE		1,334	0	0
Nuveen Credit Strategies Income Fund	common stock	67073D102	2,072	221,322	SH		SOLE		221,322	0	0
Nuveen CT Premium Income Municipal Fund	common stock	67060D107	111	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	70	5,000	SH		SOLE		5,000	0	0
Nuveen Dividend Advantage Municipal Fund 3	common stock	67070X101	2,315	169,228	SH		SOLE		169,228	0	0
Nuveen Dividend Advantage Municipal Income Fund	common stock	67071L106	981	69,248	SH		SOLE		69,248	0	0
Nuveen Diviersified Currency Opportunities Fund	common stock	67090N109	523	46,576	SH		SOLE		46,576	0	0
Nuveen Equity Premium and Growth Fund	common stock	6706EW100	87	6,001	SH		SOLE		6,001	0	0
Nuveen Flexible Investment Income Fund	common stock	67075B104	169	9,001	SH		SOLE		9,001	0	0
Nuveen Floating Rate Income Fund	common stock	67072T108	10	800	SH		SOLE		800	0	0
Nuveen Floating Rate Income Opportunity Fund	common stock	6706EN100	25	2,000	SH		SOLE		2,000	0	0
Nuveen Global Equity Income Fund	common stock	6706EH103	15	1,000	SH		SOLE		1,000	0	0
Nuveen Intermediate Duration Municipal Term Fund	common stock	670671106	221	17,520	SH		SOLE		17,520	0	0
Nuveen Intermediate Duration Quality Municipal Fund	common stock	670677103	128	9,950	SH		SOLE		9,950	0	0
Nuveen Municipal Market Opportunity Fund, Inc.	common stock	67062W103	715	53,573	SH		SOLE		53,573	0	0
Nuveen New Jersey Dividend Advantage Municipal Fund 2	common stock	67071T109	94	7,000	SH		SOLE		7,000	0	0
Nuveen Preferred & Income Term Fund	common stock	67075A106	54	2,300	SH		SOLE		2,300	0	0
Nuveen Premier Municipal Income Fund, Inc.	common stock	670988104	11	800	SH		SOLE		800	0	0
Nuveen Premium Income Municipal Fund 2	common stock	67063W102	158	11,432	SH		SOLE		11,432	0	0
Nuveen Quality Income Municipal Fund, Inc.	common stock	670977107	65	4,725	SH		SOLE		4,725	0	0
Nuveen Quality Municipal Fund, Inc.	common stock	67062N103	92	7,000	SH		SOLE		7,000	0	0
Nuveen Quality Preferred Income Fund 3	common stock	67072W101	746	85,979	SH		SOLE		85,979	0	0
Nuveen Select Quality Municipal Fund	common stock	670973106	58	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	2,811	114,491	SH		SOLE		114,491	0	0
Oxford Lane Capital, 8.125% Pfd Series 2024	preferred stock	691543409	1,551	61,227	SH		SOLE		61,227	0	0
Petroleum & Resources Corp.	common stock	716549100	5,544	177,793	SH		SOLE		177,793	0	0
PIMCO Dynamic Credit Income Fund	common stock	72202D106	4,055	170,233	SH		SOLE		170,233	0	0
PIMCO Enhanced Short Maturity ETF	common stock	72201R833	1,078	10,629	SH		SOLE		10,629	0	0
Popular, Inc.	common stock	733174700	205	6,000	SH		SOLE		6,000	0	0
PowerShares Emerging Markets Soverign Debt ETF	common stock	73936T573	1	27	SH		SOLE		27	0	0
PriceSmart Inc.	common stock	741511109	87	1,000	SH		SOLE		1,000	0	0
Putnam High Income Securities Fund	common stock	746779107	1,392	159,859	SH		SOLE		159,859	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	2,184	393,546	SH		SOLE		393,546	0	0
Rand Capital Corp.	common stock	752185108	6	2,000	SH		SOLE		2,000	0	0
RENN Global Entrepreneurs Fund, Inc.	common stock	759720105	157	106,588	SH		SOLE		106,588	0	0
RMR Real Estate Income Fund	common stock	76970B101	3,064	155,544	SH		SOLE		155,544	0	0
Royal Caribbean Cruises Ltd.	common stock	V7780T103	1,668	30,000	SH		SOLE		30,000	0	0
Royce Focus Trust, Inc.	common stock	78080N108	376	44,026	SH		SOLE		44,026	0	0
Royce Global Value Trust, Inc.	common stock	78081T104	159	16,927	SH		SOLE		16,927	0	0
Royce Micro-Cap Trust, Inc.	common stock	780915104	728	57,660	SH		SOLE		57,660	0	0
Royce Value Trust Inc.	common stock	780910105	2,064	129,016	SH		SOLE		129,016	0	0
Salient Midstream & MLP Fund	common stock	79471V105	89	3,001	SH		SOLE		3,001	0	0
Seaboard Corp.	common stock	811543107	1,912	633	SH		SOLE		633	0	0
Seacor Holdings, Inc.	common stock	811904101	165	2,000	SH		SOLE		2,000	0	0
Source Capital Corp.	common stock	836144105	300	4,289	SH		SOLE		4,289	0	0
Spanish Broadcasting System Inc.	common stock	846425833	57	10,030	SH		SOLE		10,030	0	0
SPDR Barclays High Yield Bond	common stock	78464A417	2	42	SH		SOLE		42	0	0
Special Opportunities Fund, Inc.	common stock	84741T104	190	11,387	SH		SOLE		11,387	0	0
Steiner Leisure Ltd.	common stock	P8744Y102	843	19,467	SH		SOLE		19,467	0	0
Swiss Helvetia Fund Inc.	common stock	870875101	17	1,173	SH		SOLE		1,173	0	0
Tahoe Resources Inc.	common stock	873868103	626	23,900	SH		SOLE		23,900	0	0
Taiwan Fund, Inc.	common stock	874036106	93	4,526	SH		SOLE		4,526	0	0
TCW Strategic Income Fund, Inc.	common stock	872340104	491	88,891	SH		SOLE		88,891	0	0
Teco Energy, Inc.	common stock	872375100	748	40,500	SH		SOLE		40,500	0	0
Teekay LNG Partners LP	common stock	Y8564M105	386	8,361	SH		SOLE		8,361	0	0
Templeton Dragon Fund, Inc.	common stock	88018T101	343	13,270	SH		SOLE		13,270	0	0
Thai Fund, Inc.	common stock	882904105	324	28,855	SH		SOLE		28,855	0	0
The Herzfeld Caribbean Basin Fund, Inc.	common stock	42804T106	2,304	282,652	SH		DFND		229,787	52,865	0
The Korea Fund, Inc.	common stock	500634209	1,402	32,824	SH		SOLE		32,824	0	0
The Western Union Company	common stock	959802109	208	12,000	SH		SOLE		12,000	0	0
Tim Hortons, Inc.	common stock	88706M103	1	13	SH		SOLE		13	0	0
Tortoise Energy Independence Fund, Inc.	common stock	89148K101	1,049	37,297	SH		SOLE		37,297	0	0
Tortoise Energy Infrastructure	common stock	89147L100	37	746	SH		SOLE		746	0	0
Tortoise Energy Infrastructure, 3.75% Preferred Series B	preferred stock	89147L704	12	1,300	SH		SOLE		1,300	0	0
Tortoise Pipeline & Energy Fund	common stock	89148H108	1,295	36,380	SH		SOLE		36,380	0	0
Transamerica Income Shares Inc.	common stock	893506105	9	429	SH		SOLE		429	0	0
Tri-Continental Corp.	common stock	895436103	4,629	220,626	SH		SOLE		220,626	0	0
Tri-Continental Corp., $2.50 Cumulative Preferred Stock	preferred stock	895436202	23	500	SH		SOLE		500	0	0
Turkish Investment Fund, Inc.	common stock	900145103	59	4,880	SH		SOLE		4,880	0	0
Ultrapetrol (Bahamas) Ltd.	common stock	P94398107	107	36,000	SH		SOLE		36,000	0	0
Vanguard Consumer Staples ETF	common stock	92204A207	5	40	SH		SOLE		40	0	0
Vanguard Energy ETF	common stock	92204A306	16	109	SH		SOLE		109	0	0
Vanguard Industrials ETF	common stock	92204A603	17	166	SH		SOLE		166	0	0
Vanguard Information Technology ETF	common stock	92204A702	18	186	SH		SOLE		186	0	0
Vanguard Intermediate-Term Bond ETF	common stock	921937819	3	37	SH		SOLE		37	0	0
Vanguard Materials ETF	common stock	92204A801	3	31	SH		SOLE		31	0	0
Vanguard Short-Term Bond ETF	common stock	921937827	4	48	SH		SOLE		48	0	0
Vanguard Telecommunication Services ETF	common stock	92204A884	3	39	SH		SOLE		39	0	0
Virtus Total Return Fund	common stock	92829A103	5,949	1,239,451	SH		SOLE		1,239,451	0	0
Voya Global Advantage and Premium Opportunity Fund	common stock	92912R104	212	17,210	SH		SOLE		17,210	0	0
Voya Natural Resources Equity Income Fund	common stock	92913C106	118	10,250	SH		SOLE		10,250	0	0
Vulcan Materials Company	common stock	929160109	255	4,000	SH		SOLE		4,000	0	0
Watsco Inc.	common stock	942622200	1,264	12,300	SH		SOLE		12,300	0	0
Wells Fargo Multi-Sector Income Fund	common stock	94987D101	19	1,300	SH		SOLE		1,300	0	0
Western Asset High Yield Defined Opportunity Fund Inc.	common stock	95768B107	406	22,669	SH		SOLE		22,669	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 & Income Fund	common stock	95766R104	432	35,075	SH		SOLE		35,075	0	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	common stock	95766Q106	103	8,446	SH		SOLE		8,446	0	0
WisdomTree Japan Hedged Equity	common stock	97717W851	7	143	SH		SOLE		143	0	0
Zweig Fund, Inc.	common stock	989834205	270	17,255	SH		SOLE		17,255	0	0
Zweig Total Return Fund Inc.	common stock	989837208	1,442	100,203	SH		SOLE		100,203	0	0