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
3M Company	common stock	88579Y101	12	74	SH		SOLE		74	0	0
Abbott Laboratories	common stock	002824100	11	253	SH		SOLE		253	0	0
Aberdeen Asia-Pacific Income Fund, Inc.	common stock	003009107	1,104	198,879	SH		SOLE		198,879	0	0
Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc.	common stock	00301T102	65	4,964	SH		SOLE		4,964	0	0
Aberdeen Indonesia Fund, Inc.	common stock	00305P106	200	23,835	SH		SOLE		23,835	0	0
Aberdeen Israel Fund, Inc.	common stock	00301L109	46	2,750	SH		SOLE		2,750	0	0
Aberdeen Japan Equity Fund, Inc.	common stock	00306J109	1,911	282,238	SH		SOLE		282,238	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	317	26,585	SH		SOLE		26,585	0	0
ACE Limited	common stock	H0023R105	10	88	SH		SOLE		88	0	0
Adams Express Company	common stock	006212104	5,509	402,677	SH		SOLE		402,677	0	0
Advent/Claymore Enhanced Growth & Income Fund	common stock	00765E104	409	45,965	SH		SOLE		45,965	0	0
AllianceBernstein Global High Income Fund, Inc.	common stock	01879R106	392	31,513	SH		SOLE		31,513	0	0
AllianzGI Equity & Convertible Income Fund	common stock	018829101	41	2,000	SH		SOLE		2,000	0	0
Alpine Global Dynamic Dividend Fund	common stock	02082E205	2,638	268,076	SH		SOLE		268,076	0	0
Alpine Total Dynamic Dividend Fund	common stock	021060207	4,864	572,855	SH		SOLE		572,855	0	0
Altria Group Inc.	common stock	02209S103	8	167	SH		SOLE		167	0	0
Ambev S.A.	common stock	02319V103	7	1,105	SH		SOLE		1,105	0	0
America Movil S.A.B. de C.V.	common stock	02364W105	991	44,690	SH		SOLE		44,690	0	0
American Electric Power Co., Inc.	common stock	025537101	9	152	SH		SOLE		152	0	0
American Express Company	common stock	025816109	11	119	SH		SOLE		119	0	0
Anheuser-Busch InBev	common stock	03524A108	7	64	SH		SOLE		64	0	0
Apollo Tactical Income Fund Inc	common stock	037638103	931	58,353	SH		SOLE		58,353	0	0
Ares Multi-Strategy Credit Fund	common stock	04014Q108	65	3,316	SH		SOLE		3,316	0	0
ASA Gold and Precious Metals Limited	common stock	G3156P103	104	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	810	11,988	SH		SOLE		11,988	0	0
Avenue Income Credit Strategies Fund	common stock	05358E106	139	9,185	SH		SOLE		9,185	0	0
Avianca Holdings S.A.	common stock	05367G100	1,040	88,682	SH		SOLE		88,682	0	0
Baidu, Inc.	common stock	056752108	10	42	SH		SOLE		42	0	0
Banco Santander, S.A.	common stock	05964H105	8	968	SH		SOLE		968	0	0
Bancolombia S.A.	common stock	05968L102	947	19,780	SH		SOLE		19,780	0	0
Bancroft Fund Ltd.	common stock	059695106	624	31,101	SH		SOLE		31,101	0	0
Barclays PLC	common stock	06738E204	10	652	SH		SOLE		652	0	0
BlackRock Core Bond Trust	common stock	09249E101	3	200	SH		SOLE		200	0	0
BlackRock Credit Allocation Income Trust	common stock	092508100	1,312	101,530	SH		SOLE		101,530	0	0
BlackRock Energy & Resources Trust	common stock	09250U101	39	1,935	SH		SOLE		1,935	0	0
BlackRock Enhanced Equity Dividend Trust	common stock	09251A104	11	1,382	SH		SOLE		1,382	0	0
BlackRock Income Trust, Inc.	common stock	09247F100	32	5,000	SH		SOLE		5,000	0	0
BlackRock Multi-Sector Income Trust	common stock	09258A107	325	19,406	SH		SOLE		19,406	0	0
BlackRock Resources & Commodities Strategy Trust	common stock	09257A108	163	16,756	SH		SOLE		16,756	0	0
BlackRock Science and Technology Trust	common stock	09258G104	2,380	135,326	SH		SOLE		135,326	0	0
BlackRock Utility & Infrastructure Trust	common stock	09248D104	98	4,746	SH		SOLE		4,746	0	0
Blackstone/GSO Strategic Credit Fund	common stock	09257R101	428	26,001	SH		SOLE		26,001	0	0
Boulder Growth and Income Fund, Inc.	common stock	101507101	1,945	214,942	SH		SOLE		214,942	0	0
Boulder Total Return Fund, Inc.	common stock	101541100	1,351	48,673	SH		SOLE		48,673	0	0
BP PLC	common stock	055622104	7	177	SH		SOLE		177	0	0
British America Tobacco PLC	common stock	110448107	6	59	SH		SOLE		59	0	0
Brookfield Mortgage Opportunity Income Fund	common stock	112792106	82	5,001	SH		SOLE		5,001	0	0
Cameco Corporation	common stock	13321L108	6	396	SH		SOLE		396	0	0
Canadian Natural Resrouces Limited	common stock	136385101	9	276	SH		SOLE		276	0	0
Canadian Pacific Railway Limited	common stock	13645T100	13	65	SH		SOLE		65	0	0
Carnival Corp.	common stock	143658300	1,405	31,000	SH		SOLE		31,000	0	0
Cemex, S.A.B. de C.V.	common stock	151290889	1,149	112,743	SH		SOLE		112,743	0	0
Center Coast MLP & Infrastructure Fund	common stock	151461100	43	2,399	SH		SOLE		2,399	0	0
Central Europe Russia and Turkey Fund	common stock	153436100	82	4,122	SH		SOLE		4,122	0	0
Central Fund of Canada Limited (USA)	common stock	153501101	93	8,000	SH		SOLE		8,000	0	0
Central Securities Corp.	common stock	155123102	764	34,769	SH		SOLE		34,769	0	0
China Fund, Inc.	common stock	169373107	91	5,000	SH		SOLE		5,000	0	0
China Unicom (Hong Kong) Limited	common stock	16945R104	7	515	SH		SOLE		515	0	0
ClearBridge Energy MLP Fund Inc.	common stock	184692101	524	18,972	SH		SOLE		18,972	0	0
Clough Global Allocation Fund	common stock	18913Y103	576	38,994	SH		SOLE		38,994	0	0
Clough Global Equity Fund	common stock	18914C100	1,228	84,779	SH		SOLE		84,779	0	0
Clough Global Opportunities Fund	common stock	18914E106	3,895	303,857	SH		SOLE		303,857	0	0
Coca Cola Femsa S.A.B. de C.V.	common stock	191241108	761	8,799	SH		SOLE		8,799	0	0
Cohen & Steers Infrastructure Fund, Inc.	common stock	19248A109	1,688	74,313	SH		SOLE		74,313	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund	common stock	19249B106	147	7,496	SH		SOLE		7,496	0	0
Cohen & Steers Total Return Realty Fund	common stock	19247R103	753	57,060	SH		SOLE		57,060	0	0
Companhia Brasileira de Disrtibuicao	common stock	20440T201	4	119	SH		SOLE		119	0	0
Companhia de Saneamento Basico do Estado de Sao Paulo	common stock	20441A102	6	974	SH		SOLE		974	0	0
Consolidated Water Co. Ltd.	common stock	G23773107	1,338	125,238	SH		SOLE		125,238	0	0
Consumer Discret Select Sector SPDR ETF	common stock	81369Y407	16	225	SH		SOLE		225	0	0
Copa Holdings SA	common stock	P31076105	3,918	37,800	SH		SOLE		37,800	0	0
Cornerstone Progressive Return Fund	common stock	21925C200	994	65,346	SH		SOLE		65,346	0	0
Cornerstone Strategic Value Fund Inc.	common stock	21924B302	11	555	SH		SOLE		555	0	0
Credicorp Ltd.	common stock	G2519Y108	9	59	SH		SOLE		59	0	0
Cushing Renaissance Fund	common stock	231647108	328	15,387	SH		SOLE		15,387	0	0
CVS Health Corporation	common stock	126650100	9	91	SH		SOLE		91	0	0
Cyberonics, Inc.	common stock	23251P102	1,021	18,330	SH		SOLE		18,330	0	0
Delaware Enhanced Global Dividend & Income Fund	common stock	246060107	477	42,322	SH		SOLE		42,322	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	14	1,802	SH		SOLE		1,802	0	0
Deutsche Multi-Market Income Trust	common stock	25160E102	40	4,751	SH		SOLE		4,751	0	0
Deutsche Strategic Income Trust	common stock	25160F109	23	2,000	SH		SOLE		2,000	0	0
Diversified Real Asset Income Fund	common stock	25533B108	2,277	131,272	SH		SOLE		131,272	0	0
Dominion Resources, Inc.	common stock	25746U109	8	104	SH		SOLE		104	0	0
DoubleLine Income Solutions Fund	common stock	258622109	3,358	168,746	SH		SOLE		168,746	0	0
Duff & Phelps Global Utility Income Fund, Inc.	common stock	26433C105	52	2,410	SH		SOLE		2,410	0	0
Duff & Phelps Select Energy MLP	common stock	26433F108	292	20,600	SH		SOLE		20,600	0	0
Eaton Vance Floating-Rate Income Plus Fund	common stock	278284104	151	9,331	SH		SOLE		9,331	0	0
Eaton Vance Limited Duration Income Fund	common stock	27828H105	77	5,440	SH		SOLE		5,440	0	0
Eaton Vance Michigan Municipal Income Trust	common stock	27826D106	1	100	SH		SOLE		100	0	0
EGShares Emerging Markets Consumer	common stock	268461779	2	72	SH		SOLE		72	0	0
Equus Total Return, Inc.	common stock	294766100	185	88,121	SH		SOLE		88,121	0	0
Era Group Inc.	common stock	26885G109	250	11,815	SH		SOLE		11,815	0	0
European Equity Fund, Inc.	common stock	298768102	151	18,296	SH		SOLE		18,296	0	0
Evertec Inc.	common stock	30040P103	501	22,643	SH		SOLE		22,643	0	0
Exxon Mobil Corporation	common stock	30231G102	8	86	SH		SOLE		86	0	0
Federated Enhanced Treasury Income Fund	common stock	314162108	2,776	208,436	SH		SOLE		208,436	0	0
FedEx Corporation	common stock	31428X106	69	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	7,376	772,342	SH		SOLE		772,342	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	110	4,621	SH		SOLE		4,621	0	0
First Trust High Income Long/Short Fund	common stock	33738E109	2,187	136,694	SH		SOLE		136,694	0	0
First Trust Intermediate Duration Preferred & Income Fund	common stock	33718W103	164	7,221	SH		SOLE		7,221	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	894	60,156	SH		SOLE		60,156	0	0
First Trust New Opportunities MLP & Energy Fund	common stock	33739M100	659	36,781	SH		SOLE		36,781	0	0
Fomento Economico Mexicano, S.A.B. de C.V.	common stock	344419106	968	11,000	SH		SOLE		11,000	0	0
Fort Dearborn Income Securities, Inc	common stock	347200107	76	5,400	SH		SOLE		5,400	0	0
Foxby Corp.	common stock	351645106	143	76,580	SH		SOLE		76,580	0	0
Freeport McMoran Copper & Gold	common stock	35671D857	737	32,000	SH		SOLE		32,000	0	0
Fresh Del Monte Produce Inc.	common stock	G36738105	168	5,000	SH		SOLE		5,000	0	0
Gabelli Dividend & Income Trust	common stock	36242H104	152	7,000	SH		SOLE		7,000	0	0
Gabelli Equity Trust Preferred Series D	preferred stock	362397705	22	848	SH		SOLE		848	0	0
Gabelli Equity Trust Preferred Series G	preferred stock	362397176	113	5,045	SH		SOLE		5,045	0	0
Gabelli Equity Trust, Inc.	common stock	362397101	21	3,300	SH		SOLE		3,300	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	2,418	232,013	SH		SOLE		232,013	0	0
Gabelli Multimedia Trust Inc.	common stock	36239Q109	889	88,773	SH		SOLE		88,773	0	0
GAMCO Global Gold, Natural Resources & Income Trust by Gabelli Preferred Series B	preferred stock	36465A307	860	40,200	SH		SOLE		40,200	0	0
GDL Fund	common stock	361570104	102	9,961	SH		SOLE		9,961	0	0
GDL Fund Preferred Series B	preferred stock	361570302	643	12,800	SH		SOLE		12,800	0	0
General American Investors Company, Inc.	common stock	368802104	3,339	95,409	SH		SOLE		95,409	0	0
General Electric Company	common stock	369604103	9	370	SH		SOLE		370	0	0
Gilead Sciences Inc.	common stock	375558103	141	1,500	SH		SOLE		1,500	0	0
Grupo Televisa, S.A.B.	common stock	40049J206	967	28,400	SH		SOLE		28,400	0	0
Guggenheim Enhanced Equity Strategy Fund	common stock	40167K100	268	15,119	SH		SOLE		15,119	0	0
Health Care Select Sector SPDR ETF	common stock	81369Y209	14	211	SH		SOLE		211	0	0
Hewlett-Packard Company	common stock	428236103	8	210	SH		SOLE		210	0	0
ICIC Bank Ltd.	common stock	45104G104	10	875	SH		SOLE		875	0	0
Incyte Corporation	common stock	45337C102	35	477	SH		SOLE		477	0	0
ING Groep N.V.	common stock	456837103	6	487	SH		SOLE		487	0	0
Ingersoll-Rand PLC	common stock	G47791101	12	186	SH		SOLE		186	0	0
Intel Corporation	common stock	458140100	9	240	SH		SOLE		240	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	5	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 Mexico Capped	common stock	464286822	356	6,000	SH		SOLE		6,000	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	11	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	1,321	147,228	SH		SOLE		147,228	0	0
John Hancock Premium Dividend Fund	common stock	41013T105	51	3,727	SH		SOLE		3,727	0	0
John Hancock Tax-Advantaged Dividend Income Fund	common stock	41013V100	15	655	SH		SOLE		655	0	0
Johnson & Johnson	common stock	478160104	9	85	SH		SOLE		85	0	0
JPMorgan Alerian MLP Index ETN	common stock	46625H365	46	1,000	SH		SOLE		1,000	0	0
JPMorgan Chase & Co.	common stock	46625H100	11	170	SH		SOLE		170	0	0
JPMorgan China Region Fund, Inc.	common stock	48126T104	187	11,067	SH		SOLE		11,067	0	0
Karyopharm Therapeutics Inc.	common stock	48576U106	51	1,368	SH		SOLE		1,368	0	0
Kayne Anderson Midstream/Energy Fund	common stock	48661E108	3,465	101,799	SH		SOLE		101,799	0	0
Kraft Foods Group, Inc.	common stock	50076Q106	12	186	SH		SOLE		186	0	0
Latin American Discovery Fund Inc.	common stock	51828C106	9	800	SH		SOLE		800	0	0
Legg Mason BW Global Income Opportunities Fund	common stock	52469B100	254	15,206	SH		SOLE		15,206	0	0
Lennar Corp.	common stock	526057104	1,813	40,500	SH		SOLE		40,500	0	0
Liberty All-Star Equity Fund	common stock	530158104	3,292	550,454	SH		SOLE		550,454	0	0
Liberty All-Star Growth Fund, Inc.	common stock	529900102	287	55,569	SH		SOLE		55,569	0	0
LMP Capital and Income Fund, Inc.	common stock	50208A102	565	33,740	SH		SOLE		33,740	0	0
LyondellBasell Industries N.V.	common stock	N53745100	4	56	SH		SOLE		56	0	0
Macquarie Global Infrastructure Total Return Fund Inc.	common stock	55608D101	408	16,506	SH		SOLE		16,506	0	0
Mallinckrodt Public Limitied Company	common stock	G5785G107	9	88	SH		SOLE		88	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	55	3,000	SH		SOLE		3,000	0	0
Martin Marietta Materials Inc.	common stock	573284106	375	3,400	SH		SOLE		3,400	0	0
MasTec, Inc.	common stock	576323109	2,715	120,100	SH		SOLE		120,100	0	0
McDonald's Corp.	common stock	580135101	9	97	SH		SOLE		97	0	0
Mexico Equity and Income Fund, Inc.	common stock	592834105	186	14,786	SH		SOLE		14,786	0	0
Morgan Stanley Asia Pacific Fund	common stock	61744U106	227	15,294	SH		SOLE		15,294	0	0
Morgan Stanley Emerging Market Debt Fund, Inc.	common stock	61744H105	181	19,899	SH		SOLE		19,899	0	0
Morgan Stanley Emerging Markets Domestic Debt Fund	common stock	617477104	439	41,536	SH		SOLE		41,536	0	0
Morgan Stanley Emerging Markets Fund, Inc.	common stock	61744G107	29	1,964	SH		SOLE		1,964	0	0
Morgan Stanley Income Securities Inc.	common stock	61745P874	69	3,843	SH		SOLE		3,843	0	0
Morgan Stanley India Investment Fund	common stock	61745C105	139	5,167	SH		SOLE		5,167	0	0
MVC Capital, Inc.	common stock	553829102	26	2,618	SH		SOLE		2,618	0	0
Nasdaq Premium Income & Growth Fund	common stock	670699107	24	1,250	SH		SOLE		1,250	0	0
Neuberger Berman High Yield Strategies Fund	common stock	64128C106	21	1,743	SH		SOLE		1,743	0	0
Neuberger Berman MLP Income Fund	common stock	64129H104	186	10,582	SH		SOLE		10,582	0	0
Neuberger Berman Real Estate Securities Income Fund	common stock	64190A103	38	7,216	SH		SOLE		7,216	0	0
New America High Income Fund, Inc.	common stock	641876800	18	2,000	SH		SOLE		2,000	0	0
New Germany Fund, Inc.	common stock	644465106	1,145	81,590	SH		SOLE		81,590	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	1,959	174,442	SH		SOLE		174,442	0	0
NextEra Energy, Inc.	common stock	65339F101	9	82	SH		SOLE		82	0	0
Nike, Inc.	common stock	654106103	8	88	SH		SOLE		88	0	0
Norfolk Southern Corp.	common stock	655844108	627	5,750	SH		SOLE		5,750	0	0
Norwegian Cruise Line Holdings Ltd.	common stock	G66721104	1,704	36,443	SH		SOLE		36,443	0	0
Nuveen All Cap Energy MLP Opportunities Fund	common stock	67075E108	252	16,501	SH		SOLE		16,501	0	0
Nuveen Build America Bond Fund	common stock	67074C103	192	9,049	SH		SOLE		9,049	0	0
Nuveen Build America Bond Opportunity Fund	common stock	67074Q102	505	23,013	SH		SOLE		23,013	0	0
Nuveen Core Equity Alpha Fund	common stock	67090X107	25	1,411	SH		SOLE		1,411	0	0
Nuveen Credit Strategies Income Fund	common stock	67073D102	4,176	476,129	SH		SOLE		476,129	0	0
Nuveen Diversified Dividend and Income Fund	common stock	6706EP105	238	20,232	SH		SOLE		20,232	0	0
Nuveen Dividend Advantage Municipal Fund 3	common stock	67070X101	88	6,352	SH		SOLE		6,352	0	0
Nuveen Flexible Investment Income Fund	common stock	67075B104	147	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 Global High Income Fund	common stock	67075G103	473	27,432	SH		SOLE		27,432	0	0
Nuveen Long/Short Commodity Total Return Fund	common stock	670731108	199	12,000	SH		SOLE		12,000	0	0
Nuveen Multi-Market Income Fund, Inc.	common stock	67075J107	1,253	163,332	SH		SOLE		163,332	0	0
Nuveen Preferred & Income Term Fund	common stock	67075A106	52	2,300	SH		SOLE		2,300	0	0
Nuveen Preferred Income Opportunities Fund	common stock	67073B106	29	3,000	SH		SOLE		3,000	0	0
Nuveen Quality Preferred Income Fund 3	common stock	67072W101	814	97,720	SH		SOLE		97,720	0	0
Nuveen S&P 500 Dynamic Overwrite Fund	common stock	6706EW100	86	6,001	SH		SOLE		6,001	0	0
Nuveen Tax - Advantaged Dividend Growth Fund	common stock	67073G105	2	150	SH		SOLE		150	0	0
NXP Semiconductors NV	common stock	N6596X109	9	122	SH		SOLE		122	0	0
Occidental Petroleum Corporation	common stock	674599105	7	92	SH		SOLE		92	0	0
Oxford Lane Capital, 7.50% Pfd Series 2023	preferred stock	691543300	8,153	334,552	SH		SOLE		334,552	0	0
Oxford Lane Capital, 8.125% Pfd Series 2024	preferred stock	691543409	4,647	188,048	SH		SOLE		188,048	0	0
Pacholder High Yield Fund Inc.	common stock	693742108	167	22,679	SH		SOLE		22,679	0	0
Petroleum & Resources Corp.	common stock	716549100	4,481	187,948	SH		SOLE		187,948	0	0
Pfizer Inc.	common stock	717081103	11	342	SH		SOLE		342	0	0
Philip Morris International, Inc.	common stock	718172109	7	90	SH		SOLE		90	0	0
PIMCO Dynamic Credit Income Fund	common stock	72202D106	5,249	254,194	SH		SOLE		254,194	0	0
PIMCO Dynamic Income Fund	common stock	72201Y101	1,680	54,644	SH		SOLE		54,644	0	0
PIMCO Enchanced Short Maturity Active ETF	common stock	72201R833	1,074	10,629	SH		SOLE		10,629	0	0
PIMCO Income Strategy Fund II	common stock	72201J104	728	74,256	SH		SOLE		74,256	0	0
Pioneer Diversified High Income Trust	common stock	723653101	4	200	SH		SOLE		200	0	0
Popular, Inc.	common stock	733174700	477	14,000	SH		SOLE		14,000	0	0
PowerShares CEF Income Composite ETF	common stock	73936Q843	496	21,000	SH		SOLE		21,000	0	0
PowerShares Emerging Markets Soverign Debt ETF	common stock	73936T573	1	27	SH		SOLE		27	0	0
PriceSmart Inc.	common stock	741511109	91	1,000	SH		SOLE		1,000	0	0
Principal Real Estate Income Fund	common stock	74255X104	39	2,097	SH		SOLE		2,097	0	0
Prudential PLC	common stock	74435K204	8	163	SH		SOLE		163	0	0
Putnam High Income Securities Fund	common stock	746779107	1,363	168,115	SH		SOLE		168,115	0	0
Putnam Master Intermediate Income Trust	common stock	746909100	373	77,528	SH		SOLE		77,528	0	0
Putnam Premier Income Trust	common stock	746853100	1,196	227,832	SH		SOLE		227,832	0	0
Rand Capital Corp.	common stock	752185108	8	2,000	SH		SOLE		2,000	0	0
RENN Global Entrepreneurs Fund, Inc.	common stock	759720105	139	106,588	SH		SOLE		106,588	0	0
RMR Real Estate Income Fund	common stock	76970B101	2,970	142,629	SH		SOLE		142,629	0	0
Royal Caribbean Cruises Ltd.	common stock	V7780T103	2,143	26,000	SH		SOLE		26,000	0	0
Royce Focus Trust, Inc.	common stock	78080N108	327	44,962	SH		SOLE		44,962	0	0
Royce Global Value Trust, Inc.	common stock	78081T104	137	17,044	SH		SOLE		17,044	0	0
Royce Micro-Cap Trust, Inc.	common stock	780915104	4	357	SH		SOLE		357	0	0
Royce Value Trust Inc.	common stock	780910105	2,078	145,020	SH		SOLE		145,020	0	0
Salient Midstream & MLP Fund	common stock	79471V105	3,156	132,800	SH		SOLE		132,800	0	0
Schlumberger Limited	common stock	806857108	7	78	SH		SOLE		78	0	0
Seaboard Corp.	common stock	811543107	2,393	570	SH		SOLE		570	0	0
Seacor Holdings, Inc.	common stock	811904101	148	2,000	SH		SOLE		2,000	0	0
Sensata Technologies Holding NV	common stock	N7902X106	9	175	SH		SOLE		175	0	0
Silver Wheaton Corp.	common stock	828336107	8	378	SH		SOLE		378	0	0
Simon Property Group Inc.	common stock	828806109	11	60	SH		SOLE		60	0	0
SK Telecom Co. Ltd.	common stock	78440P108	5	188	SH		SOLE		188	0	0
Source Capital Corp.	common stock	836144105	307	4,295	SH		SOLE		4,295	0	0
Spanish Broadcasting System Inc.	common stock	846425833	29	10,030	SH		SOLE		10,030	0	0
Spirit Airlines, Inc.	common stock	848577102	756	10,000	SH		SOLE		10,000	0	0
Steiner Leisure Ltd.	common stock	P8744Y102	1,038	22,467	SH		SOLE		22,467	0	0
Sumitomo Mitsui Financial Group, Inc.	common stock	86562M209	11	1,542	SH		SOLE		1,542	0	0
Swiss Helvetia Fund Inc.	common stock	870875101	29	2,573	SH		SOLE		2,573	0	0
Tahoe Resources Inc.	common stock	873868103	373	26,900	SH		SOLE		26,900	0	0
Taiwan Fund, Inc.	common stock	874036106	269	16,434	SH		SOLE		16,434	0	0
Tata Motors Limited	common stock	876568502	9	206	SH		SOLE		206	0	0
TCW Strategic Income Fund, Inc.	common stock	872340104	249	46,230	SH		SOLE		46,230	0	0
Teco Energy, Inc.	common stock	872375100	821	40,500	SH		SOLE		40,500	0	0
Teekay LNG Partners LP	common stock	Y8564M105	405	9,589	SH		SOLE		9,589	0	0
Tekla Healthcare Opportunities Fund	common stock	879105104	4,438	221,329	SH		SOLE		221,329	0	0
Tekla Life Sciences Investors	common stock	87911K100	10	390	SH		SOLE		390	0	0
Templeton Dragon Fund, Inc.	common stock	88018T101	317	13,170	SH		SOLE		13,170	0	0
Templeton Russia and East European Fund, Inc.	common stock	88022F105	90	10,000	SH		SOLE		10,000	0	0
Teva Parmaceutical Industries Limited	common stock	881624209	7	116	SH		SOLE		116	0	0
Thai Fund, Inc.	common stock	882904105	333	28,227	SH		SOLE		28,227	0	0
The Coca-Cola Company	common stock	191216100	9	208	SH		SOLE		208	0	0
The Herzfeld Caribbean Basin Fund, Inc.	common stock	42804T106	3,602	405,210	SH		DFND		309,514	95,696	0
The Home Depot, Inc.	common stock	437076102	10	94	SH		SOLE		94	0	0
The Korea Fund, Inc.	common stock	500634209	1,235	32,924	SH		SOLE		32,924	0	0
The Mexico Fund, Inc.	common stock	592835102	104	5,000	SH		SOLE		5,000	0	0
The Procter & Gamble Company	common stock	742718109	12	129	SH		SOLE		129	0	0
The Western Union Company	common stock	959802109	304	17,000	SH		SOLE		17,000	0	0
Thermo Fisher Scientific, Inc.	common stock	883556102	11	84	SH		SOLE		84	0	0
Tortoise Energy Independence Fund, Inc.	common stock	89148K101	2,119	111,817	SH		SOLE		111,817	0	0
Tortoise Energy Infrastructure	common stock	89147L100	3,030	69,235	SH		SOLE		69,235	0	0
Tortoise Energy Infrastructure, 3.75% Preferred Series B	preferred stock	89147L704	13	1,300	SH		SOLE		1,300	0	0
Tortoise MLP Fund, Inc.	common stock	89148B101	691	24,753	SH		SOLE		24,753	0	0
Tortoise Pipeline & Energy Fund	common stock	89148H108	2,843	92,499	SH		SOLE		92,499	0	0
Toyota Motor Corporation	common stock	892331307	10	79	SH		SOLE		79	0	0
Transamerica Income Shares Inc.	common stock	893506105	9	429	SH		SOLE		429	0	0
Tri-Continental Corp.	common stock	895436103	4,555	212,736	SH		SOLE		212,736	0	0
Tri-Continental Corp., $2.50 Cumulative Preferred Stock	preferred stock	895436202	24	500	SH		SOLE		500	0	0
Turkish Investment Fund, Inc.	common stock	900145103	51	4,630	SH		SOLE		4,630	0	0
Ultrapetrol (Bahamas) Ltd.	common stock	P94398107	77	36,000	SH		SOLE		36,000	0	0
United States Oil ETF	common stock	91232N108	20	1,000	SH		SOLE		1,000	0	0
United Technologies Corporation	common stock	913017109	9	76	SH		SOLE		76	0	0
Vanguard Consumer Staples ETF	common stock	92204A207	5	40	SH		SOLE		40	0	0
Vanguard Information Technology ETF	common stock	92204A702	19	186	SH		SOLE		186	0	0
Vanguard Materials ETF	common stock	92204A801	3	31	SH		SOLE		31	0	0
Vanguard Telecommunication Services ETF	common stock	92204A884	3	39	SH		SOLE		39	0	0
Verizon Communications Inc.	common stock	92343V104	7	159	SH		SOLE		159	0	0
Vipshop Holdings Limited	common stock	92763W103	9	486	SH		SOLE		486	0	0
Virtus Global Multi-Sector Income Fund	common stock	92829B101	48	3,001	SH		SOLE		3,001	0	0
Virtus Total Return Fund	common stock	92829A103	4,904	1,085,047	SH		SOLE		1,085,047	0	0
Vulcan Materials Company	common stock	929160109	263	4,000	SH		SOLE		4,000	0	0
Wal-Mart Stores Inc.	common stock	931142103	12	135	SH		SOLE		135	0	0
Watsco Inc.	common stock	942622200	1,307	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	357	22,669	SH		SOLE		22,669	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Income Fund	common stock	95766R104	396	35,075	SH		SOLE		35,075	0	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	common stock	95766Q106	99	8,497	SH		SOLE		8,497	0	0
WisdomTree Japan Hedged Equity	common stock	97717W851	7	143	SH		SOLE		143	0	0
WuXi Pharma Tech (Cayman) Inc.	common stock	929352102	9	253	SH		SOLE		253	0	0
Zweig Fund, Inc.	common stock	989834205	267	17,290	SH		SOLE		17,290	0	0
Zweig Total Return Fund Inc.	common stock	989837208	1,498	106,890	SH		SOLE		106,890	0	0