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	COM	88579Y101	46	278	SH		SOLE		278	0	0
Abbott Laboratories	COM	002824100	42	1,014	SH		SOLE		1,014	0	0
Aberdeen Asia-Pacific Income Fund, Inc.	COM	003009107	124	24,700	SH		SOLE		24,700	0	0
Aberdeen Chile Fund Inc.	COM	00301W105	29	4,800	SH		SOLE		4,800	0	0
Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc.	COM	00301T102	58	4,964	SH		SOLE		4,964	0	0
Aberdeen Indonesia Fund, Inc.	COM	00305P106	141	23,603	SH		SOLE		23,603	0	0
Aberdeen Israel Fund, Inc.	COM	00301L109	40	2,322	SH		SOLE		2,322	0	0
Aberdeen Japan Equity Fund, Inc.	COM	00306J109	2,175	296,310	SH		OTR	1	225,262	71,048	0
Aberdeen Singapore Fund, Inc.	COM	003244100	227	25,217	SH		OTR	1	17,917	7,300	0
Adams Diversified Equity Fund, Inc.	COM	006212104	5,823	460,338	SH		OTR	1	408,149	52,189	0
Adams Natural Resources Fund, Inc.	COM	00548F105	2,919	162,251	SH		OTR	1	109,654	52,597	0
Advent Claymore Convertible Securities & Income Fund II	COM	007639107	41	7,516	SH		SOLE		7,516	0	0
Advent/Claymore Enhanced Growth & Income Fund	COM	00765E104	482	58,714	SH		SOLE		58,714	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	18	128	SH		SOLE		128	0	0
Allegion PLC	ORD SHS	G0176J109	25	386	SH		SOLE		386	0	0
Alliance California Municipal Income Fund, Inc.	COM	018546101	431	29,045	SH		SOLE		29,045	0	0
AllianceBernstein National Municipal Income Fund	COM	01864U106	472	32,679	SH		SOLE		32,679	0	0
AllianzGI Equity & Convertible Income Fund	COM	018829101	36	2,000	SH		SOLE		2,000	0	0
AllianzGI NFJ Dividend, Interest & Premium Strategy Fund	COM	01883A107	777	63,367	SH		OTR	1	5,660	57,707	0
Alpine Global Dynamic Dividend Fund	COM NEW	02082E205	2,977	348,998	SH		OTR	1	243,239	105,759	0
Alpine Total Dynamic Dividend Fund	COM SH BEN INT N	021060207	5,242	698,881	SH		OTR	1	572,047	126,834	0
Altria Group, Inc.	COM	02209S103	39	615	SH		SOLE		615	0	0
America Movil S.A.B. de C.V.	SPON ADR L SHS	02364W105	694	44,690	SH		SOLE		44,690	0	0
American Electric Power Co., Inc.	COM	025537101	35	528	SH		SOLE		528	0	0
Amgen Inc.	COM	031162100	105	700	SH		SOLE		700	0	0
AmpliPhi Biosciences Corporation	COM NEW	03211P202	4	1,000	SH		SOLE		1,000	0	0
Apollo Tactical Income Fund Inc	COM	037638103	708	51,993	SH		SOLE		51,993	0	0
Archer Daniels Midland Company	COM	039483102	182	5,000	SH		SOLE		5,000	0	0
Ares Dynamic Credit Allocation Fund, Inc.	COM	04014F102	21	1,596	SH		SOLE		1,596	0	0
ASA Gold and Precious Metals Limited	SHS	G3156P103	31	3,000	SH		SOLE		3,000	0	0
Asia Pacific Fund	COM	044901106	49	5,150	SH		SOLE		5,150	0	0
ASML Holding NV	N Y REGISTRY SHS	N07059210	36	358	SH		SOLE		358	0	0
AstraZeneca PLC	SPONSORED ADR	046353108	50	1,759	SH		SOLE		1,759	0	0
Atlantic Tele Network, Inc.	COM NEW	049079205	909	11,988	SH		SOLE		11,988	0	0
Avenue Income Credit Strategies Fund	COM	05358E106	79	7,176	SH		SOLE		7,176	0	0
Avianca Holdings S.A.	SPON ADR REP PFD	05367G100	956	192,368	SH		SOLE		192,368	0	0
Baidu, Inc.	SPON ADR REP A	056752108	43	226	SH		SOLE		226	0	0
Bancolombia S.A.	SPON ADR PREF	05968L102	676	19,780	SH		SOLE		19,780	0	0
Bancroft Fund Ltd.	COM	059695106	526	29,293	SH		SOLE		29,293	0	0
Barclays PLC	ADR	06738E204	21	2,384	SH		SOLE		2,384	0	0
BioMarin Pharmaceutical Inc.	COM	09061G101	33	400	SH		SOLE		400	0	0
BlackRock Credit Allocation Income Trust	COM	092508100	244	19,474	SH		SOLE		19,474	0	0
BlackRock Enhanced Equity Dividend Trust	COM	09251A104	9	1,254	SH		SOLE		1,254	0	0
BlackRock Limited Duration Income Trust	COM SHS	09249W101	4	250	SH		SOLE		250	0	0
BlackRock Long-Term Municipal Advantage Trust	COM	09250B103	83	7,000	SH		SOLE		7,000	0	0
BlackRock Multi-Sector Income Trust	COM	09258A107	283	17,911	SH		SOLE		17,911	0	0
BlackRock Municipal Target Term Trust	COM SHS BN IN	09257P105	180	7,848	SH		SOLE		7,848	0	0
BlackRock MuniHoldings Quality Fund II, Inc.	COM	09254C107	84	6,000	SH		SOLE		6,000	0	0
BlackRock Resources & Commodities Strategy Trust	SHS	09257A108	114	15,756	SH		SOLE		15,756	0	0
BlackRock Science and Technology Trust	SHS	09258G104	8,403	494,289	SH		OTR	1	379,005	115,284	0
BlackRock Utility & Infrastructure Trust	COM	09248D104	88	4,746	SH		SOLE		4,746	0	0
Blackstone/GSO Strategic Credit Fund	COM SHS BEN IN	09257R101	167	12,281	SH		SOLE		12,281	0	0
Boulder Growth and Income Fund, Inc.	COM	101507101	11,921	1,518,588	SH		OTR	1	1,257,586	261,002	0
British America Tobacco PLC	SPONSORED ADR	110448107	31	266	SH		SOLE		266	0	0
Brookfield Global Listed Infrastructure Income Fund	COM SHS	11273Q109	190	16,701	SH		OTR	1	9,701	7,000	0
Brookfield Mortgage Opportunity Income Fund	COM	112792106	73	5,001	SH		SOLE		5,001	0	0
Calamos Global Dynamic Income Fund	COM	12811L107	104	14,800	SH		SOLE		14,800	0	0
Canadian Natural Resources Limited	COM	136385101	35	1,287	SH		SOLE		1,287	0	0
Carnival Corp.	PAIRED CTF	143658300	1,636	31,000	SH		SOLE		31,000	0	0
Celgene Corporation	COM	151020104	80	800	SH		SOLE		800	0	0
Cemex, S.A.B. de C.V.	SPON ADR NEW	151290889	1,206	165,672	SH		SOLE		165,672	0	0
Central Europe Russia and Turkey Fund	COM	153436100	38	2,028	SH		SOLE		2,028	0	0
Central Securities Corp.	COM	155123102	1,043	54,503	SH		SOLE		54,503	0	0
Check Point Software Technologies Ltd.	ORD	M22465104	18	202	SH		SOLE		202	0	0
China Fund, Inc.	COM	169373107	59	4,000	SH		SOLE		4,000	0	0
China Petroleum & Chemical Corp.	SPON ADR H SHS	16941R108	32	489	SH		SOLE		489	0	0
China Unicom (Hong Kong) Limited	SPONSORED ADR	16945R104	19	1,481	SH		SOLE		1,481	0	0
Chubb Limited	COM	H1467J104	29	246	SH		SOLE		246	0	0
ClearBridge American Energy MLP Fund Inc.	COM	184691103	77	10,992	SH		SOLE		10,992	0	0
ClearBridge Energy MLP Fund Inc.	COM	184692101	19	1,400	SH		SOLE		1,400	0	0
ClearBridge Energy MLP Opportunity Fund Inc.	COM	18469P100	71	6,306	SH		SOLE		6,306	0	0
ClearBridge Energy MLP Total Return Fund Inc.	COM	18469Q108	216	20,797	SH		SOLE		20,797	0	0
Clough Global Allocation Fund	COM	18913Y103	35	3,000	SH		SOLE		3,000	0	0
Clough Global Opportunities Fund	SH BEN INT	18914E106	742	77,490	SH		OTR	1	37,013	40,477	0
Coca Cola Femsa S.A.B. de C.V.	SPON ADR REP L	191241108	731	8,799	SH		SOLE		8,799	0	0
Cohen & Steers Closed-End Opportunity Fund, Inc.	COM	19248P106	1,761	161,725	SH		OTR	1	141,725	20,000	0
Cohen & Steers Global Income Builder, Inc.	COM	19248M103	6	635	SH		SOLE		635	0	0
Cohen & Steers Infrastructure Fund, Inc.	COM	19248A109	2,044	103,184	SH		OTR	1	70,749	32,435	0
Cohen & Steers MLP Income and Energy Opportunity Fund	COM SHS	19249B106	88	10,951	SH		SOLE		10,951	0	0
Cohen & Steers Total Return Realty Fund	COM	19247R103	287	21,910	SH		SOLE		21,910	0	0
Consolidated Water Co. Ltd.	ORD	G23773107	1,576	129,538	SH		SOLE		129,538	0	0
Copa Holdings SA	CL A	P31076105	3,425	50,550	SH		SOLE		50,550	0	0
Cornerstone Strategic Value Fund Inc.	COM	21924B302	1,433	97,877	SH		OTR	1	83,694	14,183	0
Cornerstone Total Return Fund, Inc.	COM	21924U300	107	6,657	SH		SOLE		6,657	0	0
Credicorp Ltd.	COM	G2519Y108	37	285	SH		SOLE		285	0	0
Cushing MLP Total Return Fund	COM NEW	231631201	108	10,899	SH		SOLE		10,899	0	0
Cushing Renaissance Fund	COM	231647108	192	13,705	SH		SOLE		13,705	0	0
CVS Health Corporation	COM	126650100	32	313	SH		SOLE		313	0	0
Delaware Enhanced Global Dividend & Income Fund	COM	246060107	357	39,049	SH		OTR	1	20,177	18,872	0
Delaware Investments Dividend & Income Fund, Inc.	COM	245915103	41	4,492	SH		SOLE		4,492	0	0
Delphi Automotive PLC	SHS	G27823106	31	413	SH		SOLE		413	0	0
Deutsche Multi-Market Income Trust	SHS	25160E102	96	12,133	SH		SOLE		12,133	0	0
Deutsche Strategic Income Trust	SHS	25160F109	20	1,850	SH		SOLE		1,850	0	0
Diageo PLC	SPON ADR NEW	25243Q205	29	268	SH		SOLE		268	0	0
Diversified Real Asset Income Fund	COM SHS	25533B108	1,279	80,933	SH		OTR	1	61,307	19,626	0
Dominion Resources, Inc.	COM	25746U109	33	435	SH		SOLE		435	0	0
DoubleLine Income Solutions Fund	COM	258622109	42	2,500	SH		SOLE		2,500	0	0
Dreyfus Municipal Bond Infrastructure Fund, Inc.	SHS	26203D101	106	8,017	SH		SOLE		8,017	0	0
DTF Tax-Free Income Inc.	COM	23334J107	121	7,660	SH		SOLE		7,660	0	0
Duff & Phelps Select Energy MLP Fund Inc.	COM	26433F108	54	10,000	SH		SOLE		10,000	0	0
Eagle Growth and Income Opportunities Fund	COM SHS BEN IN	26958J105	157	9,589	SH		SOLE		9,589	0	0
Eaton Vance California Municipal Income Trust	SH BEN INT	27826F101	78	5,427	SH		SOLE		5,427	0	0
Eaton Vance Floating-Rate Income Plus Fund	COM SHS BEN INT	278284104	21	1,471	SH		SOLE		1,471	0	0
Eaton Vance Limited Duration Income Fund	COM	27828H105	34	2,600	SH		SOLE		2,600	0	0
Eaton Vance Municipal Income 2028 Term Trust	SHS	27829U105	102	5,186	SH		SOLE		5,186	0	0
Eaton Vance New Jersey Municipal Bond Fund	COM	27828R103	10	676	SH		SOLE		676	0	0
Eaton Vance New York Municipal Bond Fund II	COM	27828T109	9	656	SH		SOLE		656	0	0
Eaton Vance Risk-Managed Diversified Equity Income Fund	COM	27829G106	119	12,500	SH		SOLE		12,500	0	0
Eaton Vance Tax-Advantaged Dividend Income Fund	COM	27828G107	15	800	SH		SOLE		800	0	0
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund	COM	27828U106	40	1,835	SH		SOLE		1,835	0	0
Eaton Vance Tax-Managed Global Diversified Equity Income Fund	COM	27829F108	312	35,485	SH		SOLE		35,485	0	0
Eli Lilly and Company	COM	532457108	43	600	SH		SOLE		600	0	0
Equus Total Return, Inc.	COM	294766100	104	65,309	SH		SOLE		65,309	0	0
Era Group Inc.	COM	26885G109	202	21,515	SH		SOLE		21,515	0	0
European Equity Fund, Inc.	COM	298768102	114	14,448	SH		SOLE		14,448	0	0
Evertec Inc.	COM	30040P103	331	23,643	SH		SOLE		23,643	0	0
Exxon Mobil Corporation	COM	30231G102	35	415	SH		SOLE		415	0	0
FedEx Corporation	COM	31428X106	33	200	SH		SOLE		200	0	0
Fibria Celulose SA	SP ADR REP COM	31573A109	19	2,263	SH		SOLE		2,263	0	0
First Trust Dow Jones Internet ETF	CAP STRENGTH ETF	33733E302	14	200	SH		SOLE		200	0	0
First Trust Dynamic Europe Equity Income Fund	COM SHS	33740D107	1,244	74,551	SH		OTR	1	35,596	38,955	0
First Trust Energy Infrastructure Fund	COM	33738C103	3,048	197,686	SH		OTR	1	168,785	28,901	0
First Trust High Income Long/Short Fund	COM	33738E109	660	45,165	SH		OTR	1	36,225	8,940	0
First Trust ISE Cloud Computing Index	ISE CLOUD COMP	33734X192	6	209	SH		SOLE		209	0	0
First Trust Mortgage Income Fund	COM SHS	33734E103	114	7,935	SH		SOLE		7,935	0	0
First Trust New Opportunities MLP & Energy Fund	COM	33739M100	109	9,051	SH		SOLE		9,051	0	0
Fomento Economico Mexicano, S.A.B. de C.V.	SPON ADR UNITS	344419106	1,156	12,000	SH		SOLE		12,000	0	0
Freeport McMoran Copper & Gold	CL B	35671D857	331	32,000	SH		SOLE		32,000	0	0
Fresh Del Monte Produce Inc.	ORD	G36738105	210	5,000	SH		SOLE		5,000	0	0
Gabelli Dividend & Income Trust	COM	36242H104	2,098	113,554	SH		OTR	1	59,616	53,938	0
Gabelli Equity Trust, Inc.	COM	362397101	21	3,783	SH		SOLE		3,783	0	0
Gabelli Global Small and Mid-Cap Value Fund	COM	36249W104	7	700	SH		SOLE		700	0	0
Gabelli Global Utility & Income Trust	COM SH BEN INT	36242L105	26	1,463	SH		SOLE		1,463	0	0
Gabelli Healthcare & Wellness (Rx) Trust	SHS	36246K103	2,863	290,087	SH		OTR	1	221,230	68,857	0
Gabelli Multimedia Trust Inc.	COM	36239Q109	727	98,873	SH		OTR	1	49,173	49,700	0
GDL Fund	COM SH BEN IT	361570104	100	9,961	SH		SOLE		9,961	0	0
General American Investors Company, Inc.	COM	368802104	3,755	120,240	SH		OTR	1	92,675	27,565	0
General Electric Company	COM	369604103	53	1,673	SH		SOLE		1,673	0	0
Gilead Sciences Inc.	COM	375558103	184	2,000	SH		SOLE		2,000	0	0
Goldman Sachs MLP and Energy Renaissance Fund	COM	38148G107	55	10,000	SH		SOLE		10,000	0	0
Grupo Televisa, S.A.B.	SPON ADR REP ORD	40049J206	780	28,400	SH		SOLE		28,400	0	0
Guggenheim Enhanced Equity Income Fund	COM	40167B100	680	93,259	SH		OTR	1	24,847	68,412	0
Guggenheim Enhanced Equity Strategy Fund	COM	40167K100	998	65,553	SH		SOLE		65,553	0	0
GW Pharmaceuticals PLC	ADS	36197T103	30	414	SH		SOLE		414	0	0
HDFC Bank Ltd.	ADRS REPS 3 SHS	40415F101	30	487	SH		SOLE		487	0	0
Health Care Select Sector SPDR ETF	SBI HEALTHCARE	81369Y209	8	111	SH		SOLE		111	0	0
ICIC Bank Ltd.	ADR	45104G104	21	2,943	SH		SOLE		2,943	0	0
Incyte Corporation	COM	45337C102	18	242	SH		SOLE		242	0	0
ING Groep N.V.	SPONSORED ADR	456837103	51	4,247	SH		SOLE		4,247	0	0
Ingersoll-Rand PLC	SHS	G47791101	28	457	SH		SOLE		457	0	0
Inovio Pharmaceuticals, Inc.	COM NEW	45773H201	131	15,000	SH		SOLE		15,000	0	0
Intel Corporation	COM	458140100	29	896	SH		SOLE		896	0	0
Invesco Municipal Trust	COM	46131J103	67	5,000	SH		SOLE		5,000	0	0
Invesco Pennsylvania Value Municipal Income Trust	COM	46132K109	81	6,000	SH		SOLE		6,000	0	0
Invesco Quality Municipal Income Trust	COM	46133G107	26	2,000	SH		SOLE		2,000	0	0
iShares MSCI Mexico Capped	MSCI MEX CAP ETF	464286822	419	7,800	SH		SOLE		7,800	0	0
iShares Nasdaq Biotechnology	NASDQ BIOTEC ETF	464287556	114	436	SH		SOLE		436	0	0
iShares TIPS Bond	TIPS BD ETF	464287176	47	410	SH		SOLE		410	0	0
iShares US Medical Devices	U.S. MED DVC ETF	464288810	153	1,250	SH		SOLE		1,250	0	0
Japan Smaller Capitalization Fund Inc.	COM	47109U104	1,243	128,855	SH		OTR	1	71,901	56,954	0
John Hancock Premium Dividend Fund	COM SH BEN INT	41013T105	23	1,509	SH		SOLE		1,509	0	0
John Hancock Tax-Advantaged Dividend Income Fund	COM	41013V100	15	655	SH		SOLE		655	0	0
Johnson & Johnson	COM	478160104	34	312	SH		SOLE		312	0	0
JPMorgan Alerian MLP Index ETN	ALERIAN ML ETN	46625H365	81	3,000	SH		SOLE		3,000	0	0
JPMorgan Chase & Co.	COM	46625H100	45	759	SH		SOLE		759	0	0
JPMorgan China Region Fund, Inc.	COM	48126T104	134	9,067	SH		SOLE		9,067	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	43	4,868	SH		SOLE		4,868	0	0
Koninklijke Philips N.V.	NY REG SH NEW	500472303	17	585	SH		SOLE		585	0	0
Ladenburg Thalmann Financial Services Inc.	COM	50575Q102	25	10,000	SH		SOLE		10,000	0	0
Latin American Discovery Fund Inc.	COM	51828C106	7	800	SH		SOLE		800	0	0
Legg Mason BW Global Income Opportunities Fund	COM	52469B100	48	3,864	SH		SOLE		3,864	0	0
Lennar Corp.	CL A	526057104	2,394	49,500	SH		SOLE		49,500	0	0
Liberty All-Star Equity Fund	SH BEN INT	530158104	4,611	927,754	SH		OTR	1	752,328	175,426	0
Liberty All-Star Growth Fund, Inc.	COM	529900102	561	138,452	SH		SOLE		138,452	0	0
Liberty Global PLC	SHS CL A	G5480U104	32	834	SH		SOLE		834	0	0
LivaNova PLC	SHS	G5509L101	450	8,330	SH		SOLE		8,330	0	0
Lloyds Banking Group PLC	SPONSORED ADR	539439109	28	7,211	SH		SOLE		7,211	0	0
LMP Capital and Income Fund, Inc.	COM	50208A102	408	33,012	SH		SOLE		33,012	0	0
LMP Corporate Loan Fund Inc.	COM	50208B102	6	600	SH		SOLE		600	0	0
LyondellBasell Industries N.V.	SHS -A-	N53745100	29	336	SH		SOLE		336	0	0
Macquarie Global Infrastructure Total Return Fund Inc.	COM	55608D101	488	24,272	SH		OTR	1	18,042	6,230	0
Mallinckrodt Public Limited Company	SHS	G5785G107	25	405	SH		SOLE		405	0	0
Market Vectors Gold Miners ETF	GOLD MINER ETF	57060U100	60	3,000	SH		SOLE		3,000	0	0
Marriott Vacations Worldwide Corp.	COM	57164Y107	735	10,890	SH		SOLE		10,890	0	0
Martin Marietta Materials Inc.	COM	573284106	479	3,000	SH		SOLE		3,000	0	0
MasTec, Inc.	COM	576323109	2,731	134,927	SH		SOLE		134,927	0	0
McDonald's Corp.	COM	580135101	47	376	SH		SOLE		376	0	0
Merck & Co. Inc.	COM	58933Y105	106	2,000	SH		SOLE		2,000	0	0
MetLife, Inc.	COM	59156R108	45	1,020	SH		SOLE		1,020	0	0
Mexico Equity and Income Fund, Inc.	COM	592834105	252	22,466	SH		SOLE		22,466	0	0
MFS High Income Municipal Trust	SH BEN INT	59318D104	197	38,334	SH		SOLE		38,334	0	0
MFS Investment Grade Municipal Trust	SH BEN INT	59318B108	142	14,000	SH		SOLE		14,000	0	0
Microsoft Corporation	COM	594918104	36	658	SH		SOLE		658	0	0
Morgan Stanley Asia Pacific Fund	COM	61744U106	163	11,901	SH		SOLE		11,901	0	0
Morgan Stanley China A Share Fund	COM	617468103	2,417	142,854	SH		OTR	1	88,404	54,450	0
Morgan Stanley Emerging Market Debt Fund, Inc.	COM	61744H105	175	19,899	SH		SOLE		19,899	0	0
Morgan Stanley Emerging Markets Domestic Debt Fund	COM	617477104	535	70,000	SH		OTR	1	11,400	58,600	0
Morgan Stanley Emerging Markets Fund, Inc.	COM	61744G107	9	716	SH		SOLE		716	0	0
Morgan Stanley Income Securities Inc.	INCOME SECS INC	61745P874	37	2,125	SH		SOLE		2,125	0	0
Morgan Stanley India Investment Fund	COM	61745C105	124	4,967	SH		SOLE		4,967	0	0
MVC Capital, Inc.	COM	553829102	20	2,618	SH		SOLE		2,618	0	0
Nasdaq Premium Income & Growth Fund	COM SHS	670699107	25	1,348	SH		SOLE		1,348	0	0
National Grid PLC	SPON ADR NEW	636274300	31	428	SH		SOLE		428	0	0
Neuberger Berman Real Estate Securities Income Fund	COM	64190A103	37	7,218	SH		SOLE		7,218	0	0
New Germany Fund, Inc.	COM	644465106	1,545	109,643	SH		OTR	1	70,535	39,108	0
New Ireland Fund, Inc.	COM	645673104	120	9,269	SH		SOLE		9,269	0	0
NexPoint Credit Strategies Fund	COM NEW	65340G205	2,672	148,018	SH		OTR	1	73,185	74,833	0
NexPoint Residential Trust, Inc.	COM	65341D102	11	833	SH		SOLE		833	0	0
NextEra Energy, Inc.	COM	65339F101	1,460	12,337	SH		SOLE		12,337	0	0
Nike, Inc.	CL B	654106103	34	560	SH		SOLE		560	0	0
Norfolk Southern Corp.	COM	655844108	479	5,750	SH		SOLE		5,750	0	0
Norwegian Cruise Line Holdings Ltd.	SHS	G66721104	2,264	40,943	SH		SOLE		40,943	0	0
Nuveen Connecticut Premium Income Municipal Fund	COM	67060D107	85	6,400	SH		SOLE		6,400	0	0
Nuveen Core Equity Alpha Fund	COM	67090X107	63	4,616	SH		SOLE		4,616	0	0
Nuveen Credit Strategies Income Fund	COM SHS	67073D102	2,300	290,784	SH		SOLE		290,784	0	0
Nuveen Diversified Dividend and Income Fund	COM	6706EP105	59	5,406	SH		SOLE		5,406	0	0
Nuveen Dividend Advantage Municipal Fund 2	COM	67070F100	234	15,757	SH		SOLE		15,757	0	0
Nuveen Dividend Advantage Municipal Fund 3	COM SH BEN INT	67070X101	95	6,352	SH		SOLE		6,352	0	0
Nuveen Dividend Advantage Municipal Income Fund	COM	67071L106	376	24,760	SH		SOLE		24,760	0	0
Nuveen Flexible Investment Income Fund	COM	67075B104	137	8,881	SH		SOLE		8,881	0	0
Nuveen Global Equity Income Fund	COM	6706EH103	11	1,000	SH		SOLE		1,000	0	0
Nuveen Global High Income Fund	SHS	67075G103	325	23,465	SH		SOLE		23,465	0	0
Nuveen Intermediate Duration Quality Municipal Term Fund	COM	670677103	69	5,100	SH		SOLE		5,100	0	0
Nuveen Maryland Premium Income Municipal Fund	COM	67061Q107	27	2,000	SH		SOLE		2,000	0	0
Nuveen Multi-Market Income Fund, Inc.	COM	67075J107	721	100,039	SH		SOLE		100,039	0	0
Nuveen Municipal Advantage Fund, Inc.	COM	67062H106	93	6,500	SH		SOLE		6,500	0	0
Nuveen Municipal Market Opportunity Fund, Inc.	COM	67062W103	124	8,685	SH		SOLE		8,685	0	0
Nuveen Municipal Opportunity Fund, Inc.	COM	670984103	157	10,671	SH		SOLE		10,671	0	0
Nuveen New Jersey Dividend Advantage Municipal Fund	COM	67069Y102	81	5,702	SH		SOLE		5,702	0	0
Nuveen New York AMT-Free Municipal Income Fund	COM	670656107	77	5,700	SH		SOLE		5,700	0	0
Nuveen Quality Income Municipal Fund, Inc.	COM	670977107	88	6,000	SH		SOLE		6,000	0	0
Nuveen Quality Municipal Fund, Inc.	COM	67062N103	333	23,406	SH		SOLE		23,406	0	0
Nuveen S&P 500 Dynamic Overwrite Fund	COM	6706EW100	225	16,878	SH		SOLE		16,878	0	0
Nuveen Select Quality Municipal Fund, Inc.	COM	670973106	160	10,890	SH		SOLE		10,890	0	0
Nuveen Select Tax-Free Income Portfolio 3	SH BEN INT	67063X100	156	10,500	SH		SOLE		10,500	0	0
Nuveen Tax-Advantaged Dividend Growth Fund	COM	67073G105	117	8,555	SH		SOLE		8,555	0	0
NXP Semiconductors NV	COM	N6596X109	24	302	SH		SOLE		302	0	0
Occidental Petroleum Corporation	COM	674599105	32	470	SH		SOLE		470	0	0
Pacholder High Yield Fund, Inc.	COM	693742108	140	22,075	SH		SOLE		22,075	0	0
PCM Fund Inc.	COM	69323T101	41	4,309	SH		SOLE		4,309	0	0
Pfizer Inc.	COM	717081103	38	1,288	SH		SOLE		1,288	0	0
Philip Morris International, Inc.	COM	718172109	37	377	SH		SOLE		377	0	0
PIMCO Dynamic Credit Income Fund	COM SHS	72202D106	3,950	226,485	SH		OTR	1	176,245	50,240	0
PIMCO Enhanced Short Maturity Active ETF	ENHAN SHRT MA AC	72201R833	2,812	27,907	SH		SOLE		27,907	0	0
PIMCO Income Opportunity Fund	COM	72202B100	637	30,704	SH		OTR	1	25,660	5,044	0
PIMCO Income Strategy Fund	COM	72201H108	723	75,643	SH		OTR	1	56,017	19,626	0
PIMCO Income Strategy Fund II	COM	72201J104	286	32,730	SH		SOLE		32,730	0	0
Pioneer Diversified High Income Trust	COM	723653101	3	200	SH		SOLE		200	0	0
Popular, Inc.	COM NEW	733174700	830	29,000	SH		SOLE		29,000	0	0
PriceSmart Inc.	COM	741511109	85	1,000	SH		SOLE		1,000	0	0
Prudential PLC	ADR	74435K204	23	605	SH		SOLE		605	0	0
Prudential Short Duration High Yield Fund, Inc.	COM	74442F107	29	1,891	SH		SOLE		1,891	0	0
Putnam High Income Securities Fund	SHS BEN INT	746779107	35	4,764	SH		SOLE		4,764	0	0
Putnam Premier Income Trust	SH BEN INT	746853100	229	48,242	SH		SOLE		48,242	0	0
Rand Capital Corp.	COM	752185108	9	2,000	SH		SOLE		2,000	0	0
RENN Global Entrepreneurs Fund, Inc.	COM	759720105	29	28,272	SH		SOLE		28,272	0	0
RMR Real Estate Income Fund	COM	76970B101	2,695	139,646	SH		OTR	1	128,368	11,278	0
Royal Caribbean Cruises Ltd.	COM	V7780T103	2,868	34,913	SH		SOLE		34,913	0	0
Royal Dutch Shell PLC	SPON ADR B	780259107	1,496	880	SH		SOLE		880	0	0
Royce Global Value Trust, Inc.	COM	78081T104	114	15,509	SH		SOLE		15,509	0	0
Royce Micro-Cap Trust, Inc.	COM	780915104	36	5,204	SH		SOLE		5,204	0	0
Royce Value Trust Inc.	COM	780910105	1,797	153,442	SH		SOLE		153,442	0	0
Salient Midstream & MLP Fund	SH BEN INT	79471V105	1,836	229,476	SH		OTR	1	113,490	115,986	0
Schlumberger Limited	COM	806857108	27	370	SH		SOLE		370	0	0
Seaboard Corp.	COM	811543107	1,742	580	SH		SOLE		580	0	0
Seacor Holdings, Inc.	COM	811904101	109	2,000	SH		SOLE		2,000	0	0
Sensata Technologies Holding NV	SHS	N7902X106	21	539	SH		SOLE		539	0	0
Shire PLC	SPONSORED ADR	82481R106	40	233	SH		SOLE		233	0	0
Simon Property Group Inc.	COM	828806109	53	253	SH		SOLE		253	0	0
SK Telecom Co. Ltd.	SPONSORED ADR	78440P108	46	2,284	SH		SOLE		2,284	0	0
Source Capital Corp.	COM	836144105	2,201	61,786	SH		SOLE		61,786	0	0
Spanish Broadcasting System Inc.	CL A NEW	846425833	34	10,030	SH		SOLE		10,030	0	0
Special Opportunities Fund, Inc.	COM	84741T104	1,209	92,527	SH		OTR	1	83,777	8,750	0
Spirit Airlines, Inc.	COM	848577102	1,247	26,000	SH		SOLE		26,000	0	0
Sprott Focus Trust, Inc.	COM	85208J109	311	51,139	SH		SOLE		51,139	0	0
Swiss Helvetia Fund Inc.	COM	870875101	24	2,316	SH		SOLE		2,316	0	0
Tahoe Resources Inc.	COM	873868103	320	31,900	SH		SOLE		31,900	0	0
Taiwan Fund, Inc.	COM	874036106	544	35,021	SH		OTR	1	4,631	30,390	0
Taiwan Semiconductor Manufacturing Company Limited	SPONSORED ADR	874039100	19	711	SH		SOLE		711	0	0
TCW Strategic Income Fund, Inc.	COM	872340104	115	22,000	SH		SOLE		22,000	0	0
Teekay LNG Partners LP	PRTNRSP UNITS	Y8564M105	122	9,589	SH		SOLE		9,589	0	0
Tekla Healthcare Investors	SH BEN INT	87911J103	1,294	53,911	SH		OTR	1	38,211	15,700	0
Tekla Healthcare Opportunities Fund	SHS	879105104	8,350	524,833	SH		OTR	1	380,830	144,003	0
Tekla Life Sciences Investors	SH BEN INT	87911K100	1	62	SH		SOLE		62	0	0
Tekla World Healthcare Fund	BEN INT SHS	87911L108	5,308	378,361	SH		OTR	1	271,371	106,990	0
Telefonica Brasil SA	SPONSORED ADR	87936R106	21	1,697	SH		SOLE		1,697	0	0
Templeton Dragon Fund, Inc.	COM	88018T101	276	16,095	SH		OTR	1	3,958	12,137	0
Teva Pharmaceutical Industries Limited	ADR	881624209	43	812	SH		SOLE		812	0	0
Thai Fund, Inc.	COM	882904105	158	21,036	SH		SOLE		21,036	0	0
The Bank of Nova Scotia	COM	064149107	293	6,000	SH		SOLE		6,000	0	0
The Coca-Cola Company	COM	191216100	39	836	SH		SOLE		836	0	0
The Estee Lauder Companies Inc.	CL A	518439104	15	160	SH		SOLE		160	0	0
The Herzfeld Caribbean Basin Fund, Inc.	COM	42804T106	2,965	423,002	SH		DFND		320,900	102,102	0
The Home Depot, Inc.	COM	437076102	37	279	SH		SOLE		279	0	0
The Korea Fund, Inc.	COM NEW	500634209	1,005	30,935	SH		OTR	1	23,856	7,079	0
The Kraft Heinz Company	COM	500754106	48	608	SH		SOLE		608	0	0
The Mexico Fund, Inc.	COM	592835102	239	13,345	SH		SOLE		13,345	0	0
The Procter & Gamble Company	COM	742718109	36	433	SH		SOLE		433	0	0
The Toronto-Dominion Bank	COM NEW	891160509	37	862	SH		SOLE		862	0	0
The Western Union Company	COM	959802109	270	14,000	SH		SOLE		14,000	0	0
Thermo Fisher Scientific, Inc.	COM	883556102	49	347	SH		SOLE		347	0	0
Tortoise Energy Independence Fund, Inc.	COM	89148K101	810	70,905	SH		SOLE		70,905	0	0
Tortoise Energy Infrastructure	COM	89147L100	1,320	53,642	SH		OTR	1	27,542	26,100	0
Tortoise MLP Fund, Inc.	COM	89148B101	974	59,618	SH		OTR	1	29,218	30,400	0
Tortoise Pipeline & Energy Fund	COM	89148H108	2,664	180,744	SH		OTR	1	96,149	84,595	0
Tortoise Power and Energy Infrastructure Fund, Inc.	COM	89147X104	663	38,132	SH		SOLE		38,132	0	0
Toyota Motor Corporation	SP ADR REP2COM	892331307	32	303	SH		SOLE		303	0	0
Tri-Continental Corp.	COM	895436103	4,909	245,932	SH		OTR	1	221,196	24,736	0
TripAdvisor Inc.	COM	896945201	17	262	SH		SOLE		262	0	0
Turkish Investment Fund, Inc.	COM	900145103	34	3,727	SH		SOLE		3,727	0	0
U.S. Bancorp	COM NEW	902973304	34	831	SH		SOLE		831	0	0
Ultrapetrol (Bahamas) Ltd.	COM	P94398107	10	36,000	SH		SOLE		36,000	0	0
Unilever NV	N Y SHS NEW	904784709	35	790	SH		SOLE		790	0	0
United States Oil ETF	UNITS	91232N108	10	1,000	SH		SOLE		1,000	0	0
United Technologies Corporation	COM	913017109	38	381	SH		SOLE		381	0	0
Vanguard Information Technology ETF	INF TECH ETF	92204A702	11	100	SH		SOLE		100	0	0
Velocity Shares Daily Inverse VIX	INVRS VIX STERM	22542D795	78	3,000	SH		SOLE		3,000	0	0
Verizon Communications Inc.	COM	92343V104	39	726	SH		SOLE		726	0	0
Vipshop Holdings Limited	SPONSORED ADR	92763W103	25	1,926	SH		SOLE		1,926	0	0
Virtus Total Return Fund	COM	92829A103	3,175	747,101	SH		SOLE		747,101	0	0
Vodafone Group PLC	SPNSR ADR NO PAR	92857W308	52	1,619	SH		SOLE		1,619	0	0
Vulcan Materials Company	COM	929160109	422	4,000	SH		SOLE		4,000	0	0
Wal-Mart Stores Inc.	COM	931142103	39	571	SH		SOLE		571	0	0
Watsco Inc.	COM	942622200	1,361	10,100	SH		SOLE		10,100	0	0
Wells Fargo Advantage Multi-Sector Income Fund	WF MLT SECTR INC	94987D101	3	234	SH		SOLE		234	0	0
Western Asset Worldwide Income Fund Inc.	COM	957668106	47	4,506	SH		SOLE		4,506	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Income Fund	COM	95766R104	55	5,000	SH		SOLE		5,000	0	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	COM SH BEN INT	95766Q106	61	5,317	SH		SOLE		5,317	0	0
WisdomTree Japan Hedged Equity	JAPN HEDGE EQT	97717W851	6	143	SH		SOLE		143	0	0
YieldShares High Income ETF	YLD SHS HGH INC	301505301	107	5,900	SH		SOLE		5,900	0	0
Zweig Fund, Inc.	COM NEW	989834205	224	17,383	SH		SOLE		17,383	0	0
Zweig Total Return Fund Inc.	COM NEW	989837208	1,687	140,681	SH		SOLE		140,681	0	0