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, Inc.	common stock	003009107	1,355	229,579	SH		SOLE		229,579	0	0
Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc.	common stock	00301T102	69	4,964	SH		SOLE		4,964	0	0
Aberdeen Indonesia Fund, Inc.	common stock	00305P106	227	23,835	SH		SOLE		23,835	0	0
Aberdeen Israel Fund, Inc.	common stock	00301L109	48	2,750	SH		SOLE		2,750	0	0
Aberdeen Japan Equity Fund, Inc.	common stock	00306J109	1,857	261,158	SH		SOLE		261,158	0	0
Aberdeen Latin America Equity Fund, Inc.	common stock	00306K106	2	88	SH		SOLE		88	0	0
Aberdeen Singapore Fund, Inc.	common stock	003244100	330	26,535	SH		SOLE		26,535	0	0
Adams Express Company	common stock	006212104	5,225	374,821	SH		SOLE		374,821	0	0
Alliance California Municipal Income Fund	common stock	018546101	122	9,012	SH		SOLE		9,012	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	415	30,513	SH		SOLE		30,513	0	0
AllianzGI Equity & Convertible Income Fund	common stock	018829101	1,711	86,111	SH		SOLE		86,111	0	0
Alpine Global Dynamic Dividend Fund	common stock	02082E205	2,276	230,138	SH		SOLE		230,138	0	0
Alpine Total Dynamic Dividend Fund	common stock	021060207	4,582	538,400	SH		SOLE		538,400	0	0
America Movil S.A.B. de C.V.	common stock	02364W105	1,126	44,690	SH		SOLE		44,690	0	0
Apollo Tactical Income Fund Inc	common stock	037638103	547	31,626	SH		SOLE		31,626	0	0
Ares Multi-Strategy Credit Fund	common stock	04014Q108	69	3,316	SH		SOLE		3,316	0	0
ASA Gold and Precious Metals Limited	common stock	G3156P103	121	10,307	SH		SOLE		10,307	0	0
Asia Pacific Fund	common stock	044901106	58	5,150	SH		SOLE		5,150	0	0
Atlantic Tele Network, Inc.	common stock	049079205	431	8,000	SH		SOLE		8,000	0	0
Avenue Income Credit Strategies Fund	common stock	05358E106	154	9,185	SH		SOLE		9,185	0	0
Avianca Holdings S.A.	common stock	05367G100	206	15,000	SH		SOLE		15,000	0	0
Bancolombia S.A.	common stock	05968L102	1,094	19,280	SH		SOLE		19,280	0	0
Bancroft Fund Ltd.	common stock	059695106	614	31,090	SH		SOLE		31,090	0	0
BlackRock Credit Allocation Income Trust	common stock	092508100	2,499	187,746	SH		SOLE		187,746	0	0
BlackRock Dividend Income Trust	common stock	09250D109	2	150	SH		SOLE		150	0	0
BlackRock Energy & Resources Trust	common stock	09250U101	46	1,935	SH		SOLE		1,935	0	0
BlackRock Enhanced Equity Dividend Trust	common stock	09251A104	50	6,127	SH		SOLE		6,127	0	0
BlackRock Long-Term Municipal Advantage Trust	common stock	09250B103	101	9,000	SH		SOLE		9,000	0	0
BlackRock Multi-Sector Income Trust	common stock	09258A107	41	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	1,156	58,199	SH		SOLE		58,199	0	0
Blackrock MuniYield Michigan Quality Fund	common stock	09254V105	75	5,600	SH		SOLE		5,600	0	0
Blackrock MuniYield Michigan Quality Fund II	common stock	09254W103	220	17,550	SH		SOLE		17,550	0	0
BlackRock Resources & Commodities Strategy Trust	common stock	09257A108	186	16,756	SH		SOLE		16,756	0	0
BlackRock Utility & Infrastructure Trust	common stock	09248D104	99	5,000	SH		SOLE		5,000	0	0
Blackstone/GSO Strategic Credit Fund	common stock	09257R101	235	14,001	SH		SOLE		14,001	0	0
Boulder Growth and Income Fund, Inc.	common stock	101507101	1,297	146,752	SH		SOLE		146,752	0	0
Boulder Total Return Fund, Inc.	common stock	101541100	868	32,938	SH		SOLE		32,938	0	0
Brookfield Global Listed Infrastructure Income Fund, Inc.	common stock	11273Q109	701	30,071	SH		SOLE		30,071	0	0
Brookfield Mortgage Opportunity Income Fund	common stock	112792106	85	5,001	SH		SOLE		5,001	0	0
Brookfield Total Return Fund Inc.	common stock	11283U108	130	5,200	SH		SOLE		5,200	0	0
Carnival Corp.	common stock	143658300	1,245	31,000	SH		SOLE		31,000	0	0
Cemex, S.A.B. de C.V.	common stock	151290889	740	56,743	SH		SOLE		56,743	0	0
Center Coast MLP & Infrastructure Fund	common stock	151461100	430	22,001	SH		SOLE		22,001	0	0
Central Europe Russia and Turkey Fund	common stock	153436100	102	4,122	SH		SOLE		4,122	0	0
Central Fund of Canada Limited (USA)	common stock	153501101	98	8,000	SH		SOLE		8,000	0	0
Central Securities Corp.	common stock	155123102	736	32,036	SH		SOLE		32,036	0	0
China Fund, Inc.	common stock	169373107	104	5,000	SH		SOLE		5,000	0	0
Chiquita Brands International Inc.	common stock	170032809	906	63,809	SH		SOLE		63,809	0	0
ClearBridge Energy MLP Fund Inc.	common stock	184692101	315	11,307	SH		SOLE		11,307	0	0
Clough Global Allocation Fund	common stock	18913Y103	558	38,994	SH		SOLE		38,994	0	0
Clough Global Equity Fund	common stock	18914C100	869	60,629	SH		SOLE		60,629	0	0
Clough Global Opportunities Fund	common stock	18914E106	2,754	230,877	SH		SOLE		230,877	0	0
Coca Cola Femsa S.A.B. de C.V.	common stock	191241108	1,974	19,602	SH		SOLE		19,602	0	0
Cohen & Steers Infrastructure Fund, Inc.	common stock	19248A109	2,418	104,442	SH		SOLE		104,442	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund	common stock	19249B106	201	9,496	SH		SOLE		9,496	0	0
Cohen & Steers REIT & Preferred Income Fund Inc.	common stock	19247X100	211	12,100	SH		SOLE		12,100	0	0
Cohen & Steers Total Return Realty Fund	common stock	19247R103	651	54,464	SH		SOLE		54,464	0	0
Consolidated Water Co. Ltd.	common stock	G23773107	1,215	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	2,768	25,800	SH		SOLE		25,800	0	0
Cornerstone Progressive Return Fund	common stock	21925C101	81	19,662	SH		SOLE		19,662	0	0
Cornerstone Strategic Value Fund Inc.	common stock	21924B203	12	2,066	SH		SOLE		2,066	0	0
Cushing Renaissance Fund	common stock	231647108	402	14,677	SH		SOLE		14,677	0	0
Cyberonics, Inc.	common stock	23251P102	938	18,330	SH		SOLE		18,330	0	0
Delaware Enhanced Global Dividend & Income Fund	common stock	246060107	436	36,300	SH		SOLE		36,300	0	0
Delaware Investments Dividend & Income Fund, Inc.	common stock	245915103	67	6,767	SH		SOLE		6,767	0	0
Deutsche Global High Income Fund	common stock	25158V108	15	1,802	SH		SOLE		1,802	0	0
Deutsche Multi-Market Income Trust	common stock	25160E102	42	4,751	SH		SOLE		4,751	0	0
Deutsche Strategic Income Trust	common stock	25160F109	24	2,000	SH		SOLE		2,000	0	0
Diversified Real Asset Income Fund	common stock	25533B108	2,495	140,718	SH		SOLE		140,718	0	0
DoubleLine Income Solutions Fund	common stock	258622109	2,375	109,681	SH		SOLE		109,681	0	0
Dreyfus Municipal Bond Infrastructure Fund, Inc.	common stock	26203D101	104	8,801	SH		SOLE		8,801	0	0
Duff & Phelps Global Utility Income Fund, Inc.	common stock	26433C105	51	2,410	SH		SOLE		2,410	0	0
Eaton Vance California Municipal Bond Fund	common stock	27828A100	11	1,000	SH		SOLE		1,000	0	0
Eaton Vance California Municipal Income Trust	common stock	27826F101	141	11,415	SH		SOLE		11,415	0	0
Eaton Vance Floating-Rate Income Plus Fund	common stock	278284104	161	9,331	SH		SOLE		9,331	0	0
Eaton Vance Limited Duration Income Fund	common stock	27828H105	79	5,440	SH		SOLE		5,440	0	0
Eaton Vance Michigan Municipal Income Trust	common stock	27826D106	136	10,955	SH		SOLE		10,955	0	0
Eaton Vance Municipal Income Term Trust	common stock	27829U105	3	151	SH		SOLE		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 Tax-Advantaged Dividend Income Fund	common stock	27828G107	307	15,207	SH		SOLE		15,207	0	0
EGShares Emerging Markets Consumer	common stock	268461779	2	72	SH		SOLE		72	0	0
Empire State Realty Trust, Inc.	common stock	292104106	15	1,000	SH		SOLE		1,000	0	0
Equus Total Return, Inc.	common stock	294766100	204	92,292	SH		SOLE		92,292	0	0
Era Group Inc.	common stock	26885G109	70	3,215	SH		SOLE		3,215	0	0
European Equity Fund, Inc.	common stock	298768102	150	18,296	SH		SOLE		18,296	0	0
Evertec Inc.	common stock	30040P103	394	17,643	SH		SOLE		17,643	0	0
Federated Enhanced Treasury Income Fund	common stock	314162108	2,604	193,348	SH		SOLE		193,348	0	0
Federated Premier Intermediate Municipal Income Fund	common stock	31423M105	2	150	SH		SOLE		150	0	0
FedEx Corporation	common stock	31428X106	65	400	SH		SOLE		400	0	0
Financial Select Sector SPDR ETF	common stock	81369Y605	7	302	SH		SOLE		302	0	0
First Opportunity Fund, Inc.	common stock	33587T108	6,307	650,851	SH		SOLE		650,851	0	0
First Trust Dow Jones Internet Index	common stock	33733E302	6	97	SH		SOLE		97	0	0
First Trust Energy Infrastructure Fund	common stock	33738C103	13	588	SH		SOLE		588	0	0
First Trust High Income Long/Short Fund	common stock	33738E109	2,241	131,130	SH		SOLE		131,130	0	0
First Trust Intermediate Duration Preferred & Income Fund	common stock	33718W103	1,451	66,792	SH		SOLE		66,792	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	933	61,616	SH		SOLE		61,616	0	0
Flaherty & Crumrine Dynamic Preferred & Income Fund	common stock	33848W106	145	6,431	SH		SOLE		6,431	0	0
Fomento Economico Mexicano, S.A.B. de C.V.	common stock	344419106	874	9,500	SH		SOLE		9,500	0	0
Fort Dearborn Income Securities, Inc	common stock	347200107	78	5,400	SH		SOLE		5,400	0	0
Foxby Corp.	common stock	351645106	146	76,580	SH		SOLE		76,580	0	0
Freeport McMoran Copper & Gold	common stock	35671D857	882	27,000	SH		SOLE		27,000	0	0
Fresh Del Monte Produce Inc.	common stock	G36738105	443	13,890	SH		SOLE		13,890	0	0
Gabelli Dividend & Income Trust	common stock	36242H104	149	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	423	18,615	SH		SOLE		18,615	0	0
Gabelli Equity Trust, Inc.	common stock	362397101	20	3,210	SH		SOLE		3,210	0	0
Gabelli Global Small and Mid-Cap Value Fund	common stock	36249W104	7	700	SH		SOLE		700	0	0
Gabelli Global Utility & Income Trust	common stock	36242L105	34	1,763	SH		SOLE		1,763	0	0
Gabelli Healthcare & Wellness (Rx) Trust	common stock	36246K103	2,270	229,097	SH		SOLE		229,097	0	0
Gabelli Multimedia Trust Inc.	common stock	36239Q109	1,021	108,773	SH		SOLE		108,773	0	0
GAMCO Global Gold, Natural Resources & Income Trust by Gabelli Preferred Series B	preferred stock	36465A307	893	41,824	SH		SOLE		41,824	0	0
GDL Fund	common stock	361570104	105	9,961	SH		SOLE		9,961	0	0
GDL Fund Preferred Series B	preferred stock	361570302	649	12,800	SH		SOLE		12,800	0	0
General American Investors Company, Inc.	common stock	368802104	3,193	86,166	SH		SOLE		86,166	0	0
Goldman Sachs MLP Income Opportunities Fund	common stock	38147W103	152	7,001	SH		SOLE		7,001	0	0
Grupo Televisa, S.A.B.	common stock	40049J206	962	28,400	SH		SOLE		28,400	0	0
Guggenheim Build America Bonds Managed Duration Trust	common stock	401664107	176	8,258	SH		SOLE		8,258	0	0
Health Care Select Sector SPDR ETF	common stock	81369Y209	13	211	SH		SOLE		211	0	0
Incyte Corporation	common stock	45337C102	47	955	SH		SOLE		955	0	0
Invesco California Value Municipal Income Trust	common stock	46132H106	110	9,000	SH		SOLE		9,000	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	2	81	SH		SOLE		81	0	0
iShares MSCI EMU Index	common stock	464286608	12	322	SH		SOLE		322	0	0
iShares MSCI Pacific ex-Japan	common stock	464286665	2	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	46434V548	5	282	SH		SOLE		282	0	0
iShares Nasdaq Biotechnology	common stock	464287556	10	36	SH		SOLE		36	0	0
iShares TIPS Bond	common stock	464287176	47	420	SH		SOLE		420	0	0
Japan Smaller Capitalization Fund Inc.	common stock	47109U104	1,058	109,186	SH		SOLE		109,186	0	0
John Hancock Premium Dividend Fund	common stock	41013T105	49	3,691	SH		SOLE		3,691	0	0
John Hancock Tax-Advantaged Dividend Income Fund	common stock	41013V100	457	22,173	SH		SOLE		22,173	0	0
JPMorgan China Region Fund, Inc.	common stock	48126T104	168	11,067	SH		SOLE		11,067	0	0
Karyopharm Therapeutics Inc.	common stock	48576U106	48	1,368	SH		SOLE		1,368	0	0
Kayne Anderson Energy Total Return Fund	common stock	48660P104	511	16,016	SH		SOLE		16,016	0	0
Kayne Anderson Midstream/Energy Fund	common stock	48661E108	2,298	57,330	SH		SOLE		57,330	0	0
KKR Income Opportunities Fund	common stock	48249T106	52	3,001	SH		SOLE		3,001	0	0
Latin American Discovery Fund Inc.	common stock	51828C106	10	800	SH		SOLE		800	0	0
Legg Mason BW Global Income Opportunities Fund	common stock	52469B100	71	4,206	SH		SOLE		4,206	0	0
Lennar Corp.	common stock	526057104	1,573	40,500	SH		SOLE		40,500	0	0
Liberty All-Star Equity Fund	common stock	530158104	2,633	451,708	SH		SOLE		451,708	0	0
Liberty All-Star Growth Fund, Inc.	common stock	529900102	16	3,188	SH		SOLE		3,188	0	0
LMP Capital and Income Fund, Inc.	common stock	50208A102	414	24,515	SH		SOLE		24,515	0	0
Macquarie Global Infrastructure Total Return Fund Inc.	common stock	55608D101	609	24,634	SH		SOLE		24,634	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	64	3,000	SH		SOLE		3,000	0	0
Martin Marietta Materials Inc.	common stock	573284106	245	1,900	SH		SOLE		1,900	0	0
MasTec, Inc.	common stock	576323109	2,055	67,100	SH		SOLE		67,100	0	0
Mexico Equity and Income Fund, Inc.	common stock	592834105	244	14,786	SH		SOLE		14,786	0	0
MFS California Municipal Fund	common stock	59318C106	96	8,864	SH		SOLE		8,864	0	0
MFS Intermarket Income Trust I	common stock	59318R103	218	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	876	53,675	SH		SOLE		53,675	0	0
Morgan Stanley Asia Pacific Fund	common stock	61744U106	255	15,600	SH		SOLE		15,600	0	0
Morgan Stanley Eastern Europe Fund Inc.	common stock	616988101	25	1,615	SH		SOLE		1,615	0	0
Morgan Stanley Emerging Market Debt Fund, Inc.	common stock	61744H105	193	19,899	SH		SOLE		19,899	0	0
Morgan Stanley Emerging Markets Domestic Debt Fund	common stock	617477104	490	41,468	SH		SOLE		41,468	0	0
Morgan Stanley Emerging Markets Fund, Inc.	common stock	61744G107	35	2,264	SH		SOLE		2,264	0	0
Morgan Stanley Income Securities Inc.	common stock	61745P874	186	10,425	SH		SOLE		10,425	0	0
Morgan Stanley India Investment Fund	common stock	61745C105	130	5,231	SH		SOLE		5,231	0	0
MVC Capital, Inc.	common stock	553829102	28	2,618	SH		SOLE		2,618	0	0
Nasdaq Premium Income & Growth Fund	common stock	63110R105	24	1,228	SH		SOLE		1,228	0	0
Neuberger Berman High Yield Strategies Fund	common stock	64128C106	23	1,743	SH		SOLE		1,743	0	0
Neuberger Berman MLP Income Fund	common stock	64129H104	69	3,201	SH		SOLE		3,201	0	0
Neuberger Berman Real Estate Securities Income Fund	common stock	64190A103	969	201,020	SH		SOLE		201,020	0	0
New America High Income Fund, Inc.	common stock	641876800	19	2,000	SH		SOLE		2,000	0	0
New Germany Fund, Inc.	common stock	644465106	1,296	77,587	SH		SOLE		77,587	0	0
New Ireland Fund, Inc.	common stock	645673104	133	10,532	SH		SOLE		10,532	0	0
NexPoint Credit Strategies Fund	common stock	65340G106	292	27,500	SH		SOLE		27,500	0	0
Norfolk Southern Corp.	common stock	655844108	614	5,500	SH		SOLE		5,500	0	0
Norwegian Cruise Line Holdings Ltd.	common stock	G66721104	1,313	36,443	SH		SOLE		36,443	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	184	9,037	SH		SOLE		9,037	0	0
Nuveen Build America Bond Opportunity Fund	common stock	67074Q102	488	23,013	SH		SOLE		23,013	0	0
Nuveen California AMT-Free Municipal Income Fund	common stock	670651108	1,820	130,637	SH		SOLE		130,637	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	23	1,356	SH		SOLE		1,356	0	0
Nuveen Credit Strategies Income Fund	common stock	67073D102	3,237	362,453	SH		SOLE		362,453	0	0
Nuveen CT Premium Income Municipal Fund	common stock	67060D107	51	4,078	SH		SOLE		4,078	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	2,113	154,543	SH		SOLE		154,543	0	0
Nuveen Dividend Advantage Municipal Income Fund	common stock	67071L106	812	57,530	SH		SOLE		57,530	0	0
Nuveen Diviersified Currency Opportunities Fund	common stock	67090N109	497	46,610	SH		SOLE		46,610	0	0
Nuveen Equity Premium and Growth Fund	common stock	6706EW100	84	6,001	SH		SOLE		6,001	0	0
Nuveen Flexible Investment Income Fund	common stock	67075B104	158	9,001	SH		SOLE		9,001	0	0
Nuveen Floating Rate Income Fund	common stock	67072T108	9	800	SH		SOLE		800	0	0
Nuveen Global Equity Income Fund	common stock	6706EH103	13	1,000	SH		SOLE		1,000	0	0
Nuveen Intermediate Duration Municipal Term Fund	common stock	670671106	156	12,520	SH		SOLE		12,520	0	0
Nuveen Intermediate Duration Quality Municipal Fund	common stock	670677103	12	950	SH		SOLE		950	0	0
Nuveen Multi-Market Income Fund, Inc.	common stock	67075J107	1,492	197,622	SH		SOLE		197,622	0	0
Nuveen Municipal Market Opportunity Fund, Inc.	common stock	67062W103	694	52,353	SH		SOLE		52,353	0	0
Nuveen New Jersey Dividend Advantage Municipal Fund 2	common stock	67071T109	92	7,000	SH		SOLE		7,000	0	0
Nuveen Preferred & Income Term Fund	common stock	67075A106	53	2,300	SH		SOLE		2,300	0	0
Nuveen Preferred Income Opportunities Fund	common stock	67073B106	28	3,000	SH		SOLE		3,000	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	157	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	52	4,000	SH		SOLE		4,000	0	0
Nuveen Quality Preferred Income Fund 3	common stock	67072W101	720	85,999	SH		SOLE		85,999	0	0
Nuveen Select Quality Municipal Fund	common stock	670973106	98	7,200	SH		SOLE		7,200	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	6,494	266,164	SH		SOLE		266,164	0	0
Oxford Lane Capital, 8.125% Pfd Series 2024	preferred stock	691543409	2,205	87,135	SH		SOLE		87,135	0	0
Petroleum & Resources Corp.	common stock	716549100	5,217	181,142	SH		SOLE		181,142	0	0
PIMCO Dynamic Credit Income Fund	common stock	72202D106	5,488	244,235	SH		SOLE		244,235	0	0
PIMCO Dynamic Income Fund	common stock	72201Y101	726	23,001	SH		SOLE		23,001	0	0
PIMCO Income Strategy Fund II	common stock	72201J104	53	5,000	SH		SOLE		5,000	0	0
Popular, Inc.	common stock	733174700	177	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	86	1,000	SH		SOLE		1,000	0	0
Putnam High Income Securities Fund	common stock	746779107	1,330	159,859	SH		SOLE		159,859	0	0
Putnam Master Intermediate Income Trust	common stock	746909100	385	76,628	SH		SOLE		76,628	0	0
Putnam Municipal Opportunities Trust	common stock	746922103	9	800	SH		SOLE		800	0	0
Putnam Premier Income Trust	common stock	746853100	2,222	405,470	SH		SOLE		405,470	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	160	106,588	SH		SOLE		106,588	0	0
RMR Real Estate Income Fund	common stock	76970B101	2,976	158,274	SH		SOLE		158,274	0	0
Royal Caribbean Cruises Ltd.	common stock	V7780T103	1,750	26,000	SH		SOLE		26,000	0	0
Royce Focus Trust, Inc.	common stock	78080N108	350	44,434	SH		SOLE		44,434	0	0
Royce Global Value Trust, Inc.	common stock	78081T104	147	16,927	SH		SOLE		16,927	0	0
Royce Micro-Cap Trust, Inc.	common stock	780915104	262	22,228	SH		SOLE		22,228	0	0
Royce Value Trust Inc.	common stock	780910105	1,894	130,589	SH		SOLE		130,589	0	0
Salient Midstream & MLP Fund	common stock	79471V105	1,077	36,908	SH		SOLE		36,908	0	0
Seaboard Corp.	common stock	811543107	1,693	633	SH		SOLE		633	0	0
Seacor Holdings, Inc.	common stock	811904101	150	2,000	SH		SOLE		2,000	0	0
Source Capital Corp.	common stock	836144105	279	4,292	SH		SOLE		4,292	0	0
Spanish Broadcasting System Inc.	common stock	846425833	43	10,030	SH		SOLE		10,030	0	0
SPDR Barclays High Yield Bond	common stock	78464A417	2	42	SH		SOLE		42	0	0
Steiner Leisure Ltd.	common stock	P8744Y102	732	19,467	SH		SOLE		19,467	0	0
Swiss Helvetia Fund Inc.	common stock	870875101	35	2,573	SH		SOLE		2,573	0	0
Tahoe Resources Inc.	common stock	873868103	485	23,900	SH		SOLE		23,900	0	0
Taiwan Fund, Inc.	common stock	874036106	280	14,834	SH		SOLE		14,834	0	0
TCW Strategic Income Fund, Inc.	common stock	872340104	260	46,230	SH		SOLE		46,230	0	0
Teco Energy, Inc.	common stock	872375100	704	40,500	SH		SOLE		40,500	0	0
Teekay LNG Partners LP	common stock	Y8564M105	408	9,361	SH		SOLE		9,361	0	0
Tekla Healthcare Investors	common stock	87911J103	647	22,793	SH		SOLE		22,793	0	0
Tekla Life Sciences Investors	common stock	87911K100	43	1,925	SH		SOLE		1,925	0	0
Templeton Dragon Fund, Inc.	common stock	88018T101	340	13,170	SH		SOLE		13,170	0	0
Thai Fund, Inc.	common stock	882904105	347	28,227	SH		SOLE		28,227	0	0
The Herzfeld Caribbean Basin Fund, Inc.	common stock	42804T106	2,261	282,652	SH		DFND		229,787	52,865	0
The Korea Fund, Inc.	common stock	500634209	1,354	32,624	SH		SOLE		32,624	0	0
The Western Union Company	common stock	959802109	192	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	1,169	47,297	SH		SOLE		47,297	0	0
Tortoise Energy Infrastructure	common stock	89147L100	2,034	42,284	SH		SOLE		42,284	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	2,142	62,155	SH		SOLE		62,155	0	0
Transamerica Income Shares Inc.	common stock	893506105	9	429	SH		SOLE		429	0	0
Tri-Continental Corp.	common stock	895436103	4,295	205,818	SH		SOLE		205,818	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	48	4,630	SH		SOLE		4,630	0	0
Ultrapetrol (Bahamas) Ltd.	common stock	P94398107	112	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	14	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	19	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	5,284	1,136,380	SH		SOLE		1,136,380	0	0
Vulcan Materials Company	common stock	929160109	241	4,000	SH		SOLE		4,000	0	0
Watsco Inc.	common stock	942622200	1,060	12,300	SH		SOLE		12,300	0	0
Wells Fargo Advantage Multi-Sector Income Fund	common stock	94987D101	3	234	SH		SOLE		234	0	0
Western Asset High Yield Defined Opportunity Fund Inc.	common stock	95768B107	377	22,669	SH		SOLE		22,669	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Income Fund	common stock	95766R104	407	35,075	SH		SOLE		35,075	0	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	common stock	95766Q106	98	8,471	SH		SOLE		8,471	0	0
WisdomTree Japan Hedged Equity	common stock	97717W851	7	143	SH		SOLE		143	0	0
Zweig Fund, Inc.	common stock	989834205	262	17,272	SH		SOLE		17,272	0	0
Zweig Total Return Fund Inc.	common stock	989837208	1,480	106,891	SH		SOLE		106,891	0	0