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	174	977	SH		SOLE		977	0	0
Abbott Laboratories	COM	002824100	48	1,249	SH		SOLE		1,249	0	0
Aberdeen Chile Fund Inc.	COM	00301W105	33	5,560	SH		SOLE		5,560	0	0
Aberdeen Emerging Markets Smaller Company Opportunities Fund, Inc.	COM	00301T102	47	4,147	SH		SOLE		4,147	0	0
Aberdeen Indonesia Fund, Inc.	COM	00305P106	89	14,020	SH		SOLE		14,020	0	0
Aberdeen Israel Fund, Inc.	COM	00301L109	33	2,050	SH		SOLE		2,050	0	0
Aberdeen Japan Equity Fund, Inc.	COM	00306J109	2,545	345,526	SH		OTR	1	238,883	106,643	0
Aberdeen Singapore Fund, Inc.	COM	003244100	142	16,417	SH		SOLE		16,417	0	0
Adams Diversified Equity Fund, Inc.	COM	006212104	6,853	539,147	SH		OTR	1	412,156	126,991	0
Adams Natural Resources Fund, Inc.	COM	00548F105	3,761	186,470	SH		OTR	1	103,524	82,946	0
Advent Claymore Convertible Securities & Income Fund II	COM	007639107	44	7,516	SH		SOLE		7,516	0	0
Advent/Claymore Enhanced Growth & Income Fund	COM	00765E104	441	53,177	SH		SOLE		53,177	0	0
Alexion Pharmaceuticals, Inc.	COM	015351109	19	152	SH		SOLE		152	0	0
Allegion PLC	ORD SHS	G0176J109	25	386	SH		SOLE		386	0	0
Alliance California Municipal Income Fund, Inc.	COM	018546101	93	7,021	SH		SOLE		7,021	0	0
AllianceBernstein National Municipal Income Fund	COM	01864U106	207	15,655	SH		SOLE		15,655	0	0
AllianzGI Equity & Convertible Income Fund	COM	018829101	37	2,000	SH		SOLE		2,000	0	0
AllianzGI NFJ Dividend, Interest & Premium Strategy Fund	COM	01883A107	1,460	115,788	SH		OTR	1	4,080	111,708	0
Alpine Global Dynamic Dividend Fund	COM NEW	02082E205	2,879	328,271	SH		OTR	1	221,412	106,859	0
Alpine Total Dynamic Dividend Fund	COM SH BEN INT	021060207	5,558	733,306	SH		OTR	1	527,497	205,809	0
America Movil S.A.B. de C.V.	SPON ADR L SHS	02364W105	562	44,690	SH		SOLE		44,690	0	0
American Electric Power Co., Inc.	COM	025537101	33	528	SH		SOLE		528	0	0
American Express Company	COM	025816109	51	692	SH		SOLE		692	0	0
Amgen Inc.	COM	031162100	102	700	SH		SOLE		700	0	0
Apollo Tactical Income Fund Inc	COM	037638103	1,094	70,779	SH		SOLE		70,779	0	0
Apple Inc.	COM	037833100	80	693	SH		SOLE		693	0	0
Archer Daniels Midland Company	COM	039483102	228	5,000	SH		SOLE		5,000	0	0
Ares Dynamic Credit Allocation Fund, Inc.	COM	04014F102	99	6,596	SH		SOLE		6,596	0	0
ASA Gold and Precious Metals Limited	SHS	G3156P103	55	5,000	SH		SOLE		5,000	0	0
Asia Pacific Fund	COM	044901106	50	5,150	SH		SOLE		5,150	0	0
ASML Holding NV	N Y REGISTRY SHS	N07059210	20	180	SH		SOLE		180	0	0
AstraZeneca PLC	SPONSORED ADR	046353108	21	778	SH		SOLE		778	0	0
ATN International Inc.	COM	00215F107	961	11,988	SH		SOLE		11,988	0	0
Avenue Income Credit Strategies Fund	COM	05358E106	1,648	122,735	SH		OTR	1	78,480	44,255	0
Avianca Holdings S.A.	SPON ADR REP PFD	05367G100	2,040	211,569	SH		SOLE		211,569	0	0
Baidu, Inc.	SPON ADR REP A	056752108	29	176	SH		SOLE		176	0	0
Banco Bilbao Vizcaya Argentaria, S.A.	SPONSORED ADR	05946K101	40	5,971	SH		SOLE		5,971	0	0
Bancolombia S.A.	SPON ADR PREF	05968L102	726	19,780	SH		SOLE		19,780	0	0
Bancroft Fund Ltd.	COM	059695106	35	1,746	SH		SOLE		1,746	0	0
BioMarin Pharmaceutical Inc.	COM	09061G101	33	400	SH		SOLE		400	0	0
BlackRock Credit Allocation Income Trust	COM	092508100	562	43,358	SH		OTR	1	24,474	18,884	0
BlackRock Enhanced Equity Dividend Trust	COM	09251A104	11	1,323	SH		SOLE		1,323	0	0
BlackRock Limited Duration Income Trust	COM SHS	09249W101	4	250	SH		SOLE		250	0	0
BlackRock Multi-Sector Income Trust	COM	09258A107	238	14,441	SH		SOLE		14,441	0	0
BlackRock Muni Intermediate Duration Fund, Inc.	COM	09253X102	36	2,580	SH		SOLE		2,580	0	0
BlackRock Municipal 2030 Target Term Trust	COM SHS BEN IN	09257P105	27	1,241	SH		SOLE		1,241	0	0
BlackRock Resources & Commodities Strategy Trust	SHS	09257A108	130	15,756	SH		SOLE		15,756	0	0
BlackRock Science and Technology Trust	SHS	09258G104	9,896	551,597	SH		OTR	1	414,313	137,284	0
Blackstone/GSO Strategic Credit Fund	COM SHS BEN IN	09257R101	191	12,481	SH		SOLE		12,481	0	0
Boulder Growth and Income Fund, Inc.	COM	101507101	15,359	1,718,039	SH		OTR	1	1,417,037	301,002	0
Bristol-Myers Squibb Company	COM	110122108	99	1,700	SH		SOLE		1,700	0	0
British America Tobacco PLC	SPONSORED ADR	110448107	30	266	SH		SOLE		266	0	0
Brookfield Real Assets Income Fund Inc.	SHS BEN INT	112830104	125	5,597	SH		SOLE		5,597	0	0
BT Group PLC	ADR	05577E101	48	2,104	SH		SOLE		2,104	0	0
Calamos Global Dynamic Income Fund	COM	12811L107	103	14,800	SH		SOLE		14,800	0	0
Canadian Natural Resources Limited	COM	136385101	29	894	SH		SOLE		894	0	0
Carnival Corp.	UNIT	143658300	2,155	41,400	SH		SOLE		41,400	0	0
Caterpillar Inc.	COM	149123101	65	697	SH		SOLE		697	0	0
Celgene Corporation	COM	151020104	93	800	SH		SOLE		800	0	0
Cemex, S.A.B. de C.V.	SPON ADR NEW	151290889	1,897	236,198	SH		SOLE		236,198	0	0
Central Europe Russia and Turkey Fund	COM	153436100	37	1,776	SH		SOLE		1,776	0	0
Central Fund of Canada Limited	CL A	153501101	90	8,000	SH		SOLE		8,000	0	0
Central Securities Corp.	COM	155123102	5,863	269,046	SH		OTR	1	167,430	101,616	0
Chevron Corporation	COM	166764100	83	706	SH		SOLE		706	0	0
China Fund, Inc.	COM	169373107	53	3,500	SH		SOLE		3,500	0	0
China Petroleum & Chemical Corp.	SPON ADR H SHS	16941R108	33	466	SH		SOLE		466	0	0
Chubb Limited	COM	H1467J104	33	246	SH		SOLE		246	0	0
Cisco Systems, Inc.	COM	17275R102	21	697	SH		SOLE		697	0	0
ClearBridge American Energy MLP Fund Inc.	COM	184691103	342	37,262	SH		SOLE		37,262	0	0
ClearBridge Energy MLP Total Return Fund Inc.	COM	18469Q108	100	7,826	SH		SOLE		7,826	0	0
Clough Global Allocation Fund	COM	18913Y103	36	3,000	SH		SOLE		3,000	0	0
Clough Global Opportunities Fund	SH BEN INT	18914E106	745	83,243	SH		OTR	1	42,766	40,477	0
Coca-Cola European Partners PLC	SHS	G25839104	24	774	SH		SOLE		774	0	0
Cohen & Steers Closed-End Opportunity Fund, Inc.	COM	19248P106	223	19,048	SH		SOLE		19,048	0	0
Cohen & Steers Global Income Builder, Inc.	COM	19248M103	5	635	SH		SOLE		635	0	0
Cohen & Steers Infrastructure Fund, Inc.	COM	19248A109	1,306	67,453	SH		SOLE		67,453	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund	COM SHS	19249B106	1,182	108,534	SH		OTR	1	74,621	33,913	0
Consolidated Water Co. Ltd.	ORD	G23773107	1,405	129,538	SH		SOLE		129,538	0	0
Copa Holdings SA	CL A	P31076105	2,931	32,273	SH		SOLE		32,273	0	0
Cornerstone Strategic Value Fund Inc.	COM	21924B302	13	855	SH		SOLE		855	0	0
Credicorp Ltd.	COM	G2519Y108	30	187	SH		SOLE		187	0	0
Credit Suisse Group AG	SPONSORED ADR	225401108	28	1,978	SH		SOLE		1,978	0	0
Cushing MLP Total Return Fund	COM NEW	231631201	135	9,899	SH		SOLE		9,899	0	0
Cushing Renaissance Fund	COM	231647108	224	12,905	SH		SOLE		12,905	0	0
CVS Health Corporation	COM	126650100	31	389	SH		SOLE		389	0	0
Delaware Enhanced Global Dividend & Income Fund	COM	246060107	383	37,855	SH		OTR	1	18,983	18,872	0
Delaware Investments Dividend and Income Fund, Inc.	COM	245915103	26	2,624	SH		SOLE		2,624	0	0
Deutsche Multi-Market Income Trust	SHS	25160E102	40	4,751	SH		SOLE		4,751	0	0
Deutsche Strategic Income Trust	SHS	25160F109	5	400	SH		SOLE		400	0	0
Diageo PLC	SPON ADR NEW	25243Q205	28	268	SH		SOLE		268	0	0
Diversified Real Asset Income Fund	COM SHS	25533B108	1,205	77,312	SH		OTR	1	57,686	19,626	0
Dominion Resources, Inc.	COM	25746U109	33	435	SH		SOLE		435	0	0
DoubleLine Income Solutions Fund	COM	258622109	47	2,500	SH		SOLE		2,500	0	0
Dreyfus Municipal Bond Infrastructure Fund, Inc.	SHS	26203D101	123	10,037	SH		SOLE		10,037	0	0
Dreyfus Municipal Income, Inc.	COM	26201R102	178	20,630	SH		SOLE		20,630	0	0
E.I. du Pont de Nemours and Company	COM	263534109	92	1,253	SH		SOLE		1,253	0	0
Eagle Growth & Income Opportunities Fund	COM SHS BEN IN	26958J105	156	9,589	SH		SOLE		9,589	0	0
Eaton Vance California Municipal Income Trust	SH BEN INT	27826F101	67	5,483	SH		SOLE		5,483	0	0
Eaton Vance Enhanced Equity Income Fund	COM	278274105	3	250	SH		SOLE		250	0	0
Eaton Vance Floating-Rate Income Plus Fund	COM SHS BEN INT	278284104	25	1,471	SH		SOLE		1,471	0	0
Eaton Vance Limited Duration Income Fund	COM	27828H105	36	2,600	SH		SOLE		2,600	0	0
Eaton Vance New York Municipal Bond Fund II	COM	27828T109	233	20,000	SH		SOLE		20,000	0	0
Eaton Vance Risk-Managed Diversified Equity Income Fund	COM	27829G106	112	12,500	SH		SOLE		12,500	0	0
Eaton Vance Tax-Managed Global Diversified Equity Income Fund	COM	27829F108	10	1,300	SH		SOLE		1,300	0	0
Eli Lilly and Company	COM	532457108	44	600	SH		SOLE		600	0	0
Empire State Realty Trust, Inc.	CL A	292104106	684	33,894	SH		SOLE		33,894	0	0
Equus Total Return, Inc.	COM	294766100	124	61,909	SH		SOLE		61,909	0	0
Era Group Inc.	COM	26885G109	365	21,515	SH		SOLE		21,515	0	0
European Equity Fund, Inc.	COM	298768102	72	9,358	SH		SOLE		9,358	0	0
Evertec Inc.	COM	30040P103	420	23,643	SH		SOLE		23,643	0	0
Exxon Mobil Corporation	COM	30231G102	101	1,118	SH		SOLE		1,118	0	0
Ferrari N.V.	COM	N3167Y103	28	489	SH		SOLE		489	0	0
First Trust Dynamic Europe Equity Income Fund	COM SHS	33740D107	2,595	167,196	SH		OTR	1	119,441	47,755	0
First Trust Energy Infrastructure Fund	COM	33738C103	2,237	123,969	SH		SOLE		123,969	0	0
First Trust High Income Long/Short Fund	COM	33738E109	790	49,105	SH		SOLE		49,105	0	0
First Trust Mortgage Income Fund	COM SHS	33734E103	36	2,535	SH		SOLE		2,535	0	0
Fomento Economico Mexicano, S.A.B. de C.V.	SPON ADR UNITS	344419106	923	12,110	SH		SOLE		12,110	0	0
Freeport McMoran Copper & Gold	CL B	35671D857	422	32,000	SH		SOLE		32,000	0	0
Fresh Del Monte Produce Inc.	ORD	G36738105	303	5,000	SH		SOLE		5,000	0	0
Gabelli Dividend & Income Trust	COM	36242H104	979	48,872	SH		SOLE		48,872	0	0
Gabelli Equity Trust, Inc.	COM	362397101	23	4,097	SH		SOLE		4,097	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	25	1,463	SH		SOLE		1,463	0	0
Gabelli Healthcare & Wellness (Rx) Trust	SHS	36246K103	2,433	257,822	SH		OTR	1	184,297	73,525	0
Gabelli Multimedia Trust Inc.	COM	36239Q109	112	15,423	SH		SOLE		15,423	0	0
GDL Fund	COM SH BEN IT	361570104	49	5,000	SH		SOLE		5,000	0	0
General American Investors Company, Inc.	COM	368802104	4,081	130,884	SH		OTR	1	98,198	32,686	0
General Electric Company	COM	369604103	75	2,369	SH		SOLE		2,369	0	0
Gildan Activewear Inc.	COM	375916103	22	851	SH		SOLE		851	0	0
Gilead Sciences Inc.	COM	375558103	143	2,000	SH		SOLE		2,000	0	0
Grupo Aeroportuario del Sureste, S.A.B. de C.V.	SPON ADR SER B	40051E202	302	2,100	SH		SOLE		2,100	0	0
Grupo Televisa, S.A.B.	SPON ADR REP ORD	40049J206	593	28,400	SH		SOLE		28,400	0	0
Guggenheim Enhanced Equity Strategy Fund	COM	40167K100	991	61,363	SH		SOLE		61,363	0	0
Guggenheim Equal Weight Enhanced Equity Income Fund	COM SH BEN INT	40167M106	75	4,571	SH		SOLE		4,571	0	0
GW Pharmaceuticals PLC	ADS	36197T103	22	201	SH		SOLE		201	0	0
ICIC Bank Ltd.	ADR	45104G104	46	6,123	SH		SOLE		6,123	0	0
Incyte Corporation	COM	45337C102	24	242	SH		SOLE		242	0	0
ING Groep N.V.	SPONSORED ADR	456837103	53	3,789	SH		SOLE		3,789	0	0
Ingersoll-Rand PLC	SHS	G47791101	29	382	SH		SOLE		382	0	0
Inovio Pharmaceuticals, Inc.	COM NEW	45773H201	104	15,000	SH		SOLE		15,000	0	0
Intel Corporation	COM	458140100	69	1,892	SH		SOLE		1,892	0	0
International Business Machines Corporation	COM	459200101	117	704	SH		SOLE		704	0	0
iShares Nasdaq Biotechnology	NASDQ BIOTEC ETF	464287556	159	600	SH		SOLE		600	0	0
iShares TIPS Bond	TIPS BD ETF	464287176	46	410	SH		SOLE		410	0	0
iShares US Medical Devices	U.S. MED DVC ETF	464288810	379	2,850	SH		SOLE		2,850	0	0
Itau Unibanco Holding S.A.	SPON ADR REP PFD	465562106	39	3,769	SH		SOLE		3,769	0	0
Japan Smaller Capitalization Fund Inc.	COM	47109U104	1,628	167,384	SH		OTR	1	69,456	97,928	0
John Hancock Tax-Advantaged Dividend Income Fund	COM	41013V100	350	15,179	SH		SOLE		15,179	0	0
Johnson & Johnson	COM	478160104	117	1,012	SH		SOLE		1,012	0	0
JPMorgan Chase & Co.	COM	46625H100	125	1,454	SH		SOLE		1,454	0	0
Karyopharm Therapeutics Inc.	COM	48576U106	46	4,868	SH		SOLE		4,868	0	0
Kayne Anderson Energy Total Return Fund, Inc.	COM	48660P104	632	53,522	SH		OTR	1	0	53,522	0
Kayne Anderson MLP Investment Company	COM	486606106	271	13,827	SH		SOLE		13,827	0	0
Koninklijke Philips N.V.	NY REG SH NEW	500472303	61	2,011	SH		SOLE		2,011	0	0
Ladenburg Thalmann Financial Services Inc.	COM	50575Q102	24	10,000	SH		SOLE		10,000	0	0
Latin American Discovery Fund Inc.	COM	51828C106	32	3,393	SH		SOLE		3,393	0	0
Legg Mason BW Global Income Opportunities Fund	COM	52469B100	46	3,864	SH		SOLE		3,864	0	0
Lennar Corp.	CL A	526057104	2,125	49,500	SH		SOLE		49,500	0	0
Liberty All-Star Equity Fund	SH BEN INT	530158104	5,435	1,053,338	SH		OTR	1	849,705	203,633	0
Liberty All-Star Growth Fund, Inc.	COM	529900102	603	144,302	SH		SOLE		144,302	0	0
LivaNova PLC	SHS	G5509L101	375	8,330	SH		SOLE		8,330	0	0
Lloyds Banking Group PLC	SPONSORED ADR	539439109	25	7,926	SH		SOLE		7,926	0	0
LMP Capital and Income Fund, Inc.	COM	50208A102	382	28,740	SH		SOLE		28,740	0	0
LyondellBasell Industries N.V.	SHS - A -	N53745100	38	442	SH		SOLE		442	0	0
Macquarie Global Infrastructure Total Return Fund Inc.	COM	55608D101	321	16,273	SH		SOLE		16,273	0	0
MannKind Corp.	COM	56400P201	1	1,000	SH		SOLE		1,000	0	0
Marriott Vacations Worldwide Corp.	COM	57164Y107	912	10,745	SH		SOLE		10,745	0	0
Martin Marietta Materials Inc.	COM	573284106	665	3,000	SH		SOLE		3,000	0	0
MasTec, Inc.	COM	576323109	3,899	101,927	SH		SOLE		101,927	0	0
MasterCard Incorporated	CL A	57636Q104	27	260	SH		SOLE		260	0	0
McDonald's Corp.	COM	580135101	131	1,077	SH		SOLE		1,077	0	0
Merck & Co. Inc.	COM	58933Y105	159	2,696	SH		SOLE		2,696	0	0
MetLife, Inc.	COM	59156R108	56	1,040	SH		SOLE		1,040	0	0
Mexico Equity and Income Fund, Inc.	COM	592834105	230	25,117	SH		SOLE		25,117	0	0
MFS Charter Income Trust	SH BEN INT	552727109	35	4,057	SH		SOLE		4,057	0	0
MFS Investment Grade Municipal Trust	SH BEN INT	59318B108	141	15,000	SH		SOLE		15,000	0	0
Microsoft Corporation	COM	594918104	84	1,357	SH		SOLE		1,357	0	0
Morgan Stanley Asia Pacific Fund	COM	61744U106	161	11,901	SH		SOLE		11,901	0	0
Morgan Stanley China A Share Fund	COM	617468103	494	29,081	SH		SOLE		29,081	0	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	28	1,555	SH		SOLE		1,555	0	0
Morgan Stanley India Investment Fund	COM	61745C105	127	4,967	SH		SOLE		4,967	0	0
MVC Capital, Inc.	COM	553829102	22	2,618	SH		SOLE		2,618	0	0
National Grid PLC	SPON ADR NEW	636274300	25	428	SH		SOLE		428	0	0
NetEase, Inc.	SPONSORED ADR	64110W102	22	101	SH		SOLE		101	0	0
Neuberger Berman MLP Income Fund Inc.	COM	64129H104	439	46,785	SH		SOLE		46,785	0	0
New Germany Fund, Inc.	COM	644465106	1,603	122,616	SH		OTR	1	65,726	56,890	0
New Ireland Fund, Inc.	COM	645673104	93	7,728	SH		SOLE		7,728	0	0
NexPoint Credit Strategies Fund	COM NEW	65340G205	12,616	554,056	SH		OTR	1	387,977	166,079	0
NextEra Energy, Inc.	COM	65339F101	996	8,337	SH		SOLE		8,337	0	0
Nike, Inc.	CL B	654106103	35	690	SH		SOLE		690	0	0
Norfolk Southern Corp.	COM	655844108	316	2,928	SH		SOLE		2,928	0	0
Norwegian Cruise Line Holdings Ltd.	SHS	G66721104	2,464	57,943	SH		SOLE		57,943	0	0
Nuveen AMT-Free Quality Municipal Income Fund	COM	670657105	47	3,553	SH		SOLE		3,553	0	0
Nuveen Core Equity Alpha Fund	COM	67090X107	62	4,731	SH		SOLE		4,731	0	0
Nuveen Credit Strategies Income Fund	COM SHS	67073D102	2,477	279,872	SH		SOLE		279,872	0	0
Nuveen Diversified Dividend and Income Fund	COM	6706EP105	24	2,114	SH		SOLE		2,114	0	0
Nuveen Dividend Advantage Municipal Fund	COM	67066V101	141	10,085	SH		SOLE		10,085	0	0
Nuveen Dividend Advantage Municipal Fund 3	COM SH BEN INT	67070X101	287	20,284	SH		SOLE		20,284	0	0
Nuveen Dividend Advantage Municipal Income Fund	COM	67071L106	198	13,677	SH		SOLE		13,677	0	0
Nuveen Dow 30 Dynamic Overwrite Fund	SHS	67075F105	334	22,254	SH		OTR	1	300	21,954	0
Nuveen Flexible Investment Income Fund	COM	67075B104	124	7,481	SH		SOLE		7,481	0	0
Nuveen Global High Income Fund	SHS	67075G103	341	21,302	SH		SOLE		21,302	0	0
Nuveen Multi-Market Income Fund, Inc.	COM	67075J107	500	68,474	SH		SOLE		68,474	0	0
Nuveen Municipal Value Fund, Inc.	COM	670928100	124	13,000	SH		SOLE		13,000	0	0
Nuveen NASDAQ 100 Dynamic Overwrite Fund	COM SHS	670699107	415	22,347	SH		SOLE		22,347	0	0
Nuveen New Jersey Dividend Advantage Municipal Fund	COM	67069Y102	75	5,702	SH		SOLE		5,702	0	0
Nuveen S&P 500 Buy-Write Income Fund	COM	6706ER101	1,370	107,686	SH		OTR	1	25,845	81,841	0
Nuveen S&P 500 Dynamic Overwrite Fund	COM	6706EW100	96	6,645	SH		SOLE		6,645	0	0
Nuveen Select Tax-Free Income Portfolio 2	SH BEN INT	67063C106	262	19,722	SH		SOLE		19,722	0	0
Nuveen Select Tax-Free Income Portfolio 3	SH BEN INT	67063X100	347	24,493	SH		SOLE		24,493	0	0
Nuveen Tax-Advantaged Dividend Growth Fund	COM	67073G105	107	7,665	SH		SOLE		7,665	0	0
NXP Semiconductors N.V.	SH BEN INT	67062F100	174	12,546	SH		SOLE		12,546	0	0
Occidental Petroleum Corporation	COM	674599105	33	470	SH		SOLE		470	0	0
Pacholder High Yield Fund, Inc.	COM	693742108	154	21,390	SH		SOLE		21,390	0	0
Pfizer Inc.	COM	717081103	65	1,992	SH		SOLE		1,992	0	0
Philip Morris International, Inc.	COM	718172109	44	482	SH		SOLE		482	0	0
PIMCO Dynamic Credit Income Fund	COM SHS	72202D106	9,811	485,235	SH		OTR	1	357,625	127,610	0
PIMCO Enhanced Short Maturity Active ETF	ENHAN SHRT MA AC	72201R833	2,572	25,380	SH		SOLE		25,380	0	0
PIMCO Income Strategy Fund II	COM	72201J104	75	7,923	SH		SOLE		7,923	0	0
Pioneer Diversified High Income Trust	COM	723653101	3	200	SH		SOLE		200	0	0
Pioneer Municipal High Income Trust	COM SHS	723763108	178	15,000	SH		SOLE		15,000	0	0
Popular, Inc.	COM NEW	733174700	1,271	29,000	SH		SOLE		29,000	0	0
PriceSmart Inc.	COM	741511109	84	1,000	SH		SOLE		1,000	0	0
Prudential PLC	ADR	74435K204	24	605	SH		SOLE		605	0	0
Putnam High Income Securities Fund	SHS BEN INT	746779107	19	2,356	SH		SOLE		2,356	0	0
Putnam Premier Income Trust	SH BEN INT	746853100	42	8,382	SH		SOLE		8,382	0	0
Rand Capital Corporation	COM	752185108	6	2,000	SH		SOLE		2,000	0	0
RENN Global Entrepreneurs Fund, Inc.	COM	759720105	71	58,150	SH		SOLE		58,150	0	0
RMR Real Estate Income Fund	COM	76970B101	1,996	97,567	SH		SOLE		97,567	0	0
Royal Caribbean Cruises Ltd.	COM	V7780T103	3,398	41,413	SH		SOLE		41,413	0	0
Royal Dutch Shell PLC	SPON ADR B	780259107	826	351	SH		SOLE		351	0	0
Royce Global Value Trust, Inc.	COM	78081T104	123	15,313	SH		SOLE		15,313	0	0
Royce Micro-Cap Trust, Inc.	COM	780915104	39	4,780	SH		SOLE		4,780	0	0
Royce Value Trust Inc.	COM	780910105	2,065	154,242	SH		SOLE		154,242	0	0
Salient Midstream & MLP Fund	SH BEN INT	79471V105	2,591	190,770	SH		OTR	1	99,605	91,165	0
Sanofi	SPONSORED ADR	80105N105	25	612	SH		SOLE		612	0	0
SAP SE	SPON ADR	803054204	21	243	SH		SOLE		243	0	0
Schlumberger Limited	COM	806857108	38	449	SH		SOLE		449	0	0
Seaboard Corp.	COM	811543107	2,114	535	SH		SOLE		535	0	0
Seacor Holdings, Inc.	COM	811904101	143	2,000	SH		SOLE		2,000	0	0
Sensata Technologies Holding NV	SHS	N7902X106	26	660	SH		SOLE		660	0	0
Shire PLC	SPONSORED ADR	82481R106	26	155	SH		SOLE		155	0	0
Simon Property Group Inc.	COM	828806109	45	253	SH		SOLE		253	0	0
SK Telecom Co. Ltd.	SPONSORED ADR	78440P108	18	881	SH		SOLE		881	0	0
Sony Corporation	ADR NEW	835699307	23	807	SH		SOLE		807	0	0
Source Capital, Inc.	COM	836144105	1,799	50,048	SH		OTR	1	35,728	14,320	0
Spanish Broadcasting System Inc.	CL A NEW	846425833	44	14,272	SH		SOLE		14,272	0	0
Special Opportunities Fund, Inc.	COM	84741T104	970	71,059	SH		SOLE		71,059	0	0
Special Opportunities Fund, Inc. Preferred	PFD CONV SE B	84741T302	119	4,699	SH		SOLE		4,699	0	0
Spirit Airlines, Inc.	COM	848577102	1,504	26,000	SH		SOLE		26,000	0	0
Sprott Focus Trust, Inc.	COM	85208J109	334	48,144	SH		SOLE		48,144	0	0
Swiss Helvetia Fund Inc.	COM	870875101	24	2,316	SH		SOLE		2,316	0	0
Tahoe Resources Inc.	COM	873868103	300	31,900	SH		SOLE		31,900	0	0
Taiwan Fund, Inc.	COM	874036106	351	21,821	SH		OTR	1	3,244	18,577	0
TCW Strategic Income Fund, Inc.	COM	872340104	117	22,000	SH		SOLE		22,000	0	0
Teekay LNG Partners LP	PRTNRSP UNITS	Y8564M105	139	9,589	SH		SOLE		9,589	0	0
Tekla Healthcare Investors	SH BEN INT	87911J103	30	1,433	SH		SOLE		1,433	0	0
Tekla Healthcare Opportunities Fund	SHS	879105104	7,807	503,007	SH		OTR	1	355,201	147,806	0
Tekla Life Sciences Investors	SH BEN INT	87911K100	1	66	SH		SOLE		66	0	0
Tekla World Healthcare Fund	BEN INT SHS	87911L108	5,700	443,894	SH		OTR	1	335,604	108,290	0
Telecom Italia S.P.A.	SPON ADR ORD	87927Y102	22	2,428	SH		SOLE		2,428	0	0
Templeton Dragon Fund, Inc.	COM	88018T101	223	13,617	SH		OTR	1	3,480	10,137	0
Teva Pharmaceutical Industries Limited	ADR	881624209	16	430	SH		SOLE		430	0	0
Thai Fund, Inc.	COM	882904105	154	20,286	SH		SOLE		20,286	0	0
The Boeing Company	COM	097023105	109	702	SH		SOLE		702	0	0
The Coca-Cola Company	COM	191216100	64	1,538	SH		SOLE		1,538	0	0
The Estee Lauder Companies Inc.	CL A	518439104	17	216	SH		SOLE		216	0	0
The Goldman Sachs Group, Inc.	COM	38141G104	166	693	SH		SOLE		693	0	0
The Herzfeld Caribbean Basin Fund, Inc.	COM	42804T106	4,472	665,494	SH		DFND		414,727	250,767	0
The Home Depot, Inc.	COM	437076102	131	975	SH		SOLE		975	0	0
The Korea Fund, Inc.	COM NEW	500634209	735	23,056	SH		SOLE		23,056	0	0
The Kraft Heinz Company	COM	500754106	53	608	SH		SOLE		608	0	0
The Mexico Fund, Inc.	COM	592835102	188	13,345	SH		SOLE		13,345	0	0
The Procter & Gamble Company	COM	742718109	95	1,129	SH		SOLE		1,129	0	0
The Toronto-Dominion Bank	COM NEW	891160509	38	771	SH		SOLE		771	0	0
The Travelers Company, Inc.	COM	89417E109	85	693	SH		SOLE		693	0	0
The Walt Disney Company	COM DISNEY	254687106	110	1,057	SH		SOLE		1,057	0	0
The Wendy's Company	COM	95058W100	1	42	SH		SOLE		42	0	0
The Western Union Company	COM	959802109	304	14,000	SH		SOLE		14,000	0	0
Thermo Fisher Scientific, Inc.	COM	883556102	35	247	SH		SOLE		247	0	0
Tortoise Energy Independence Fund, Inc.	COM	89148K101	3	180	SH		SOLE		180	0	0
Tortoise Pipeline & Energy Fund	COM	89148H108	3,930	182,257	SH		OTR	1	141,201	41,056	0
Tortoise Power and Energy Infrastructure Fund, Inc.	COM	89147X104	1,224	55,206	SH		OTR	1	48,706	6,500	0
Tri-Continental Corp.	COM	895436103	4,913	222,821	SH		OTR	1	198,085	24,736	0
TripAdvisor Inc.	COM	896945201	18	385	SH		SOLE		385	0	0
Turkish Investment Fund, Inc.	COM	900145103	20	2,944	SH		SOLE		2,944	0	0
U.S. Bancorp	COM NEW	902973304	43	831	SH		SOLE		831	0	0
United States Oil	UNITS	91232N108	12	1,000	SH		SOLE		1,000	0	0
United Technologies Corporation	COM	913017109	118	1,079	SH		SOLE		1,079	0	0
UnitedHealth Group Incorporated	COM	91324P102	111	694	SH		SOLE		694	0	0
Vale S.A.	ADR	91912E105	38	5,052	SH		SOLE		5,052	0	0
Valeant Pharmaceuticals International, Inc.	COM	91911K102	15	1,000	SH		SOLE		1,000	0	0
VanEck Vectors Gold Miners ETF	GOLD MINERS ETF	92189F106	63	3,000	SH		SOLE		3,000	0	0
Verizon Communications Inc.	COM	92343V104	76	1,427	SH		SOLE		1,427	0	0
Vipshop Holdings Limited	SPONSORED ADR	92763W103	21	1,926	SH		SOLE		1,926	0	0
Virtus Global Dividend & Income Fund Inc.	COM	92835W107	1,086	90,190	SH		SOLE		90,190	0	0
Visa Inc.	COM CL A	92826C839	54	689	SH		SOLE		689	0	0
Vodafone Group PLC	SPNSR ADR	92857W308	19	781	SH		SOLE		781	0	0
Vulcan Materials Company	COM	929160109	501	4,000	SH		SOLE		4,000	0	0
Wal-Mart Stores Inc.	COM	931142103	88	1,266	SH		SOLE		1,266	0	0
Watsco Inc.	COM	942622200	1,496	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/Claymore Inflation-Linked Opportunities & Income Fund	COM	95766R104	234	21,000	SH		OTR	1	5,000	16,000	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	COM SH BEN INT	95766Q106	210	18,291	SH		OTR	1	5,317	12,974	0
Zweig Fund, Inc.	COM NEW	989834205	344	28,460	SH		SOLE		28,460	0	0