Thomas J. Herzfeld Advisors 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M Co	COM	88579Y101	160	760	SH		SOLE		760	0	0
ABB Ltd	SPONSORED ADR	000375204	8	340	SH		SOLE		340	0	0
Aberdeen Chile Fund Inc	COM	00301W105	91	10,859	SH		SOLE		10,859	0	0
Aberdeen Emerging Markets Smaller Co Opportunities Fund Inc	COM	00301T102	251	17,980	SH		SOLE		17,980	0	0
Aberdeen Greater China Fund Inc	COM	003031101	23	2,000	SH		SOLE		2,000	0	0
Aberdeen Israel Fund Inc	COM	00301L109	73	3,550	SH		SOLE		3,550	0	0
Aberdeen Japan Equity Fund Inc	COM	00306J109	2,560	293,968	SH		OTR	1	201,575	92,393	0
Aberdeen Latin American Equity Fund Inc	COM	00306K106	605	22,110	SH		OTR	1	4,000	18,110	0
Aberdeen Singapore Fund Inc	COM	003244100	99	8,525	SH		SOLE		8,525	0	0
Adams Diversified Equity Fund Inc	COM	006212104	7,484	492,075	SH		OTR	1	410,084	81,991	0
Adams Natural Resources Fund Inc	COM	00548F105	2,356	119,891	SH		OTR	1	15,683	104,208	0
Advent Claymore Convertible Securities and Income Fund II	COM	007639107	47	7,516	SH		SOLE		7,516	0	0
Advent/Claymore Enhanced Growth & Income Fund	COM	00765E104	182	21,133	SH		SOLE		21,133	0	0
Alexion Pharmaceuticals Inc	COM	015351109	12	88	SH		SOLE		88	0	0
Allegion PLC	ORD SHS	G0176J109	11	126	SH		SOLE		126	0	0
Alliance California Municipal Income Fund Inc	COM	018546101	246	17,781	SH		SOLE		17,781	0	0
AllianceBernstein Global High Income Fund Inc	COM	01879R106	41	3,140	SH		SOLE		3,140	0	0
AllianceBernstein National Municipal Income Fund Inc	COM	01864U106	216	15,462	SH		SOLE		15,462	0	0
AllianzGI Equity & Convertible Income Fund	COM	018829101	41	2,000	SH		SOLE		2,000	0	0
AllianzGI NFJ Dividend Interest & Premium Strategy Fund	COM	01883A107	1,498	111,788	SH		OTR	1	80	111,708	0
Alpine Global Dynamic Dividend Fund	COM NEW	02082E205	2,997	282,457	SH		OTR	1	175,598	106,859	0
Alpine Total Dynamic Dividend Fund	COM SH BEN INT N	021060207	6,455	717,254	SH		OTR	1	499,023	218,231	0
Altaba Inc	COM	021346101	110	1,658	SH		SOLE		1,658	0	0
America Movil SAB de CV	SPON ADR L SHS	02364W105	793	44,690	SH		SOLE		44,690	0	0
American Electric Power Co Inc	COM	025537101	7	99	SH		SOLE		99	0	0
American Express Co	COM	025816109	72	796	SH		SOLE		796	0	0
Amgen Inc	COM	031162100	131	700	SH		SOLE		700	0	0
Apollo Tactical Income Fund Inc	COM	037638103	401	24,766	SH		SOLE		24,766	0	0
Apple Inc	COM	037833100	116	753	SH		SOLE		753	0	0
Ares Dynamic Credit Allocation Fund Inc	COM	04014F102	175	10,696	SH		SOLE		10,696	0	0
ASA Gold and Precious Metals Ltd	SHS	G3156P103	59	5,000	SH		SOLE		5,000	0	0
Asia Tigers Fund Inc	COM	04516T105	25	2,000	SH		SOLE		2,000	0	0
ASML Holding NV	N Y REGISRTY SHS	N07059210	27	159	SH		SOLE		159	0	0
ATN International Inc	COM	00215F107	632	11,988	SH		SOLE		11,988	0	0
Avianca Holdings SA	SPON ADR REP PFD	05367G100	1,719	221,569	SH		SOLE		221,569	0	0
Baidu Inc	SPON ADR REP A	056752108	12	47	SH		SOLE		47	0	0
Banco Bilbao Vizcaya Argentaria SA	SPONSORED ADR	05946K101	36	4,091	SH		SOLE		4,091	0	0
Bancolombia SA	SPON ADR PREF	05968L102	906	19,780	SH		SOLE		19,780	0	0
Bancroft Fund Ltd	COM	059695106	38	1,746	SH		SOLE		1,746	0	0
BHP Billiton Ltd	SPONSORED ADR	088606108	10	248	SH		SOLE		248	0	0
BioMarin Pharmaceutical Inc	COM	09061G101	37	400	SH		SOLE		400	0	0
BlackRock Credit Allocation Income Trust	COM	092508100	1,312	96,695	SH		OTR	1	34,191	62,504	0
BlackRock Enhanced Equity Dividend Trust	COM	09251A104	13	1,389	SH		SOLE		1,389	0	0
BlackRock Limited Duration Income Trust	COM SHS	09249W101	4	250	SH		SOLE		250	0	0
BlackRock Multi-Sector Income Trust	COM	09258A107	167	8,946	SH		SOLE		8,946	0	0
BlackRock Muni Intermediate Duration Fund Inc	COM	09253X102	108	7,590	SH		SOLE		7,590	0	0
BlackRock Municipal 2030 Target Term Trust	COM SHS BEN IN	09257P105	232	10,231	SH		SOLE		10,231	0	0
BlackRock Resources & Commodities Strategy Trust	SHS	09257A108	126	14,156	SH		SOLE		14,156	0	0
BlackRock Science & Technology Trust	SHS	09258G104	13,480	551,798	SH		OTR	1	428,497	123,301	0
Blackstone / GSO Strategic Credit Fund	COM SHS BEN IN	09257R101	163	10,181	SH		SOLE		10,181	0	0
Boulder Growth & Income Fund Inc	COM	101507101	15,106	1,480,991	SH		OTR	1	1,177,889	303,102	0
Bristol-Myers Squibb Co	COM	110122108	108	1,700	SH		SOLE		1,700	0	0
British American Tobacco PLC	SPONSORED ADR	110448107	10	156	SH		SOLE		156	0	0
Brookfield Real Assets Income Fund Inc	SHS BEN INT	112830104	116	4,855	SH		SOLE		4,855	0	0
BT Group PLC	ADR	05577E101	35	1,843	SH		SOLE		1,843	0	0
Canadian Natural Resources Ltd	COM	136385101	10	286	SH		SOLE		286	0	0
Carnival Corp	UNIT 99/99/9999	143658300	1,679	26,000	SH		SOLE		26,000	0	0
Caterpillar Inc	COM	149123101	89	713	SH		SOLE		713	0	0
Celgene Corp	COM	151020104	117	800	SH		SOLE		800	0	0
Cemex SAB de CV	SPON ADR NEW	151290889	2,457	270,645	SH		SOLE		270,645	0	0
Central and Eastern European Fund Inc	COM	153436100	44	1,779	SH		SOLE		1,779	0	0
Central Fund of Canada Ltd	CL A	153501101	101	8,000	SH		SOLE		8,000	0	0
Central Securities Corp	COM	155123102	10,485	405,624	SH		OTR	1	282,276	123,348	0
Chevron Corp	COM	166764100	85	727	SH		SOLE		727	0	0
China Petroleum & Chemical Corp	SPON ADR H SHS	16941R108	8	110	SH		SOLE		110	0	0
Chubb Ltd	COM	H1467J104	10	68	SH		SOLE		68	0	0
Cisco Systems Inc	COM	17275R102	24	716	SH		SOLE		716	0	0
ClearBridge American Energy MLP Fund Inc	COM	184691103	235	27,406	SH		SOLE		27,406	0	0
Clough Global Opportunities Fund	SH BEN INT	18914E106	3	300	SH		SOLE		300	0	0
Coca-Cola European Partners PLC	SHS	G25839104	9	207	SH		SOLE		207	0	0
Cohen & Steers Infrastructure Fund Inc	COM	19248A109	60	2,602	SH		SOLE		2,602	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund Inc	COM SHS	19249B106	1,113	106,671	SH		OTR	1	76,817	29,854	0
Consolidated Water Co Ltd	ORD	G23773107	1,658	129,538	SH		SOLE		129,538	0	0
Copa Holdings SA	CL A	P31076105	3,272	26,273	SH		SOLE		26,273	0	0
Cornerstone Strategic Value Fund Inc	COM	21924B302	22	1,506	SH		SOLE		1,506	0	0
Credit Suisse Group AG	SPONSORED ADR	225401108	9	563	SH		SOLE		563	0	0
Ctrip.com International Ltd	AMERICAN DEP SHS	22943F100	6	108	SH		SOLE		108	0	0
Delaware Enhanced Global Dividend & Income Fund	COM	246060107	435	36,655	SH		OTR	1	17,783	18,872	0
Delaware Investments Dividend & Income Fund Inc	COM	245915103	14	1,278	SH		SOLE		1,278	0	0
Deutsche Multi-Market Income Trust	SHS	25160E102	43	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	45	338	SH		SOLE		338	0	0
Dominion Energy Inc	COM	25746U109	7	95	SH		SOLE		95	0	0
DoubleLine Income Solutions Fund	COM	258622109	52	2,462	SH		SOLE		2,462	0	0
DowDuPont Inc	COM	26078J100	70	1,018	SH		SOLE		1,018	0	0
Dreyfus Municipal Bond Infrastructure Fund Inc	SHS	26203D101	77	5,776	SH		SOLE		5,776	0	0
DTF Tax-Free Income Inc	COM	23334J107	186	13,000	SH		SOLE		13,000	0	0
Eagle Point Credit Co Inc	COM	269808101	64	3,109	SH		SOLE		3,109	0	0
Eaton Vance California Municipal Bond Fund II	COM	27828C106	122	10,109	SH		SOLE		10,109	0	0
Eaton Vance California Municipal Income Trust	SH BEN INT	27826F101	339	27,156	SH		SOLE		27,156	0	0
Eaton Vance Enhanced Equity Income Fund	COM	278274105	4	250	SH		SOLE		250	0	0
Eaton Vance New York Municipal Bond Fund II	COM	27828T109	179	15,000	SH		SOLE		15,000	0	0
Eli Lilly & Co	COM	532457108	51	600	SH		SOLE		600	0	0
Empire State Realty Trust Inc	CL A	292104106	696	33,894	SH		SOLE		33,894	0	0
Equus Total Return Inc	COM	294766100	131	53,796	SH		SOLE		53,796	0	0
Era Group Inc	COM	26885G109	241	21,515	SH		SOLE		21,515	0	0
EVERTEC Inc	COM	30040P103	375	23,643	SH		SOLE		23,643	0	0
Exxon Mobil Corp	COM	30231G102	65	789	SH		SOLE		789	0	0
First BanCorp/Puerto Rico	COM NEW	318672706	1,899	370,875	SH		SOLE		370,875	0	0
First Trust Aberdeen Global Opportunity Income Fund	COM SHS	337319107	40	3,396	SH		SOLE		3,396	0	0
First Trust Dynamic Europe Equity Income Fund	COM SHS	33740D107	1,119	58,226	SH		OTR	1	40,772	17,454	0
First Trust Energy Infrastructure Fund	COM	33738C103	858	45,736	SH		SOLE		45,736	0	0
First Trust High Income Long/Short Fund	COM	33738E109	205	12,018	SH		SOLE		12,018	0	0
First Trust Mortgage Income Fund	COM SHS	33734E103	36	2,536	SH		SOLE		2,536	0	0
Fomento Economico Mexicano SAB de CV	SPON ADR UNITS	344419106	1,396	14,610	SH		SOLE		14,610	0	0
Fresh Del Monte Produce Inc	ORD	G36738105	1,409	31,000	SH		SOLE		31,000	0	0
Gabelli Equity Trust Inc	COM	362397101	28	4,404	SH		SOLE		4,404	0	0
General American Investors Co Inc	COM	368802104	5,336	148,150	SH		OTR	1	115,514	32,636	0
General Electric Co	COM	369604103	22	905	SH		SOLE		905	0	0
Gildan Activewear Inc	COM	375916103	6	193	SH		SOLE		193	0	0
Gilead Sciences Inc	COM	375558103	162	2,000	SH		SOLE		2,000	0	0
Goldman Sachs MLP Income Opportunities Fund	COM SHS	38147W103	14	1,451	SH		SOLE		1,451	0	0
Grupo Aeroportuario del Sureste SAB de CV	SPON ADR SER B	40051E202	401	2,100	SH		SOLE		2,100	0	0
Grupo Televisa SAB	SPON ADR REP ORD	40049J206	701	28,400	SH		SOLE		28,400	0	0
Guggenheim Enhanced Equity Income Fund	COM	40167B100	27	3,191	SH		SOLE		3,191	0	0
GW Pharmaceuticals PLC	ADS	36197T103	6	63	SH		SOLE		63	0	0
Home BancShares Inc	COM	436893200	717	28,416	SH		SOLE		28,416	0	0
ICICI Bank Ltd	ADR	45104G104	36	4,225	SH		SOLE		4,225	0	0
Incyte Corp	COM	45337C102	28	242	SH		SOLE		242	0	0
ING Groep NV	SPONSORED ADR	456837103	8	442	SH		SOLE		442	0	0
Ingersoll-Rand PLC	SHS	G47791101	8	91	SH		SOLE		91	0	0
Inovio Pharmaceuticals Inc	COM NEW	45773H201	95	15,000	SH		SOLE		15,000	0	0
Intel Corp	COM	458140100	33	854	SH		SOLE		854	0	0
International Business Machines Corp	COM	459200101	112	774	SH		SOLE		774	0	0
iShares Nasdaq Biotechnology ETF	NASDAQ BIOTECH	464287556	200	600	SH		SOLE		600	0	0
iShares Short Maturity Bond ETF	SHT MAT BD ETF	46431W507	503	10,000	SH		SOLE		10,000	0	0
iShares TIPS Bond ETF	TIPS BD ETF	464287176	47	410	SH		SOLE		410	0	0
iShares U.S. Medical Devices ETF	U.S. MED DVC ETF	464288810	476	2,850	SH		SOLE		2,850	0	0
Itau Unibanco Holding SA	SPON ADR REP PFD	465562106	21	1,498	SH		SOLE		1,498	0	0
Japan Smaller Capitalization Fund Inc	COM	47109U104	2,177	173,496	SH		OTR	1	75,568	97,928	0
Johnson & Johnson	COM	478160104	100	772	SH		SOLE		772	0	0
JPMorgan Chase & Co	COM	46625H100	79	824	SH		SOLE		824	0	0
Karyopharm Therapeutics Inc	COM	48576U106	53	4,868	SH		SOLE		4,868	0	0
Kayne Anderson Midstream/Energy Fund Inc	COM	48661E108	1,573	106,994	SH		OTR	1	41,788	65,206	0
Koninklijke Philips NV	NY REG SH NEW	500472303	17	407	SH		SOLE		407	0	0
Ladenburg Thalmann Financial Services Inc	COM	50575Q102	29	10,000	SH		SOLE		10,000	0	0
Legg Mason BW Global Income Opportunities Fund Inc	COM	52469B100	52	3,864	SH		SOLE		3,864	0	0
Lennar Corp	CL A	526057104	2,614	49,500	SH		SOLE		49,500	0	0
Liberty All Star Equity Fund	SH BEN INT	530158104	6,396	1,060,726	SH		OTR	1	843,091	217,635	0
Liberty All Star Growth Fund Inc	COM	529900102	269	51,462	SH		SOLE		51,462	0	0
LivaNova PLC	SHS	G5509L101	584	8,330	SH		SOLE		8,330	0	0
LMP Capital and Income Fund Inc	COM	50208A102	114	7,833	SH		SOLE		7,833	0	0
Macquarie Global Infrastructure Total Return Fund Inc	COM	55608D101	392	14,903	SH		SOLE		14,903	0	0
Manning & Napier Inc	CL A	56382Q102	24	6,000	SH		SOLE		6,000	0	0
Manulife Financial Corp	COM	56501R106	8	399	SH		SOLE		399	0	0
Marriott Vacations Worldwide Corp	COM	57164Y107	1,089	8,745	SH		SOLE		8,745	0	0
Martin Marietta Materials Inc	COM	573284106	619	3,000	SH		SOLE		3,000	0	0
MasTec Inc	COM	576323109	4,747	102,297	SH		SOLE		102,297	0	0
Mastercard Inc	CL A	57636Q104	13	92	SH		SOLE		92	0	0
McDonald's Corp	COM	580135101	122	781	SH		SOLE		781	0	0
Melco Resorts & Entertainment Ltd	ADR	585464100	6	269	SH		SOLE		269	0	0
Merck & Co Inc	COM	58933Y105	174	2,712	SH		SOLE		2,712	0	0
MetLife Inc	COM	59156R108	5	105	SH		SOLE		105	0	0
MFS Charter Income Trust	SH BEN INT	552727109	27	3,057	SH		SOLE		3,057	0	0
Microsoft Corp	COM	594918104	61	816	SH		SOLE		816	0	0
Mitsubishi UFJ Financial Group Inc	SPONSORED ADR	606822104	10	1,557	SH		SOLE		1,557	0	0
Morgan Stanley Asia-Pacific Fund Inc	COM	61744U106	146	8,485	SH		SOLE		8,485	0	0
Morgan Stanley Emerging Markets Fund Inc	COM	61744G107	12	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 Inc	COM	61745C105	126	3,674	SH		SOLE		3,674	0	0
MVC Capital Inc	COM	553829102	13	1,300	SH		SOLE		1,300	0	0
NetEase Inc	SPONSORED ADR	64110W102	24	90	SH		SOLE		90	0	0
Neuberger Berman High Yield Strategies Fund Inc	COM	64128C106	56	4,579	SH		SOLE		4,579	0	0
Neuberger Berman MLP Income Fund Inc	COM	64129H104	1,271	133,755	SH		SOLE		133,755	0	0
NexPoint Credit Strategies Fund	COM NEW	65340G205	20,270	879,410	SH		OTR	1	655,075	224,335	0
NextEra Energy Inc	COM	65339F101	1,181	8,056	SH		SOLE		8,056	0	0
NIKE Inc	CL B	654106103	36	696	SH		SOLE		696	0	0
Norfolk Southern Corp	COM	655844108	255	1,928	SH		SOLE		1,928	0	0
Norwegian Cruise Line Holdings Ltd	SHS	G66721104	2,537	46,944	SH		SOLE		46,944	0	0
Novartis AG	SPONSORED ADR	66987V109	43	500	SH		SOLE		500	0	0
Nuveen AMT-Free Quality Municipal Income Fund	COM	670657105	91	6,553	SH		SOLE		6,553	0	0
Nuveen Core Equity Alpha Fund	COM	67090X107	61	3,935	SH		SOLE		3,935	0	0
Nuveen Credit Strategies Income Fund	COM SHS	67073D102	1,595	187,872	SH		SOLE		187,872	0	0
Nuveen Global High Income Fund	SHS	67075G103	315	18,130	SH		SOLE		18,130	0	0
Nuveen Multi-Market Income Fund Inc	COM	67075J107	546	71,936	SH		SOLE		71,936	0	0
Nuveen NASDAQ 100 Dynamic Overwrite Fund	COM SHS	670699107	33	1,502	SH		SOLE		1,502	0	0
Nuveen New Jersey Quality Municipal Income Fund	COM	67069Y102	136	9,940	SH		SOLE		9,940	0	0
Nuveen New York AMT-Free Quality Municipal Income Fund	COM	670656107	132	10,000	SH		SOLE		10,000	0	0
Nuveen Quality Municipal Income Fund	COM	67066V101	112	7,920	SH		SOLE		7,920	0	0
Nuveen Real Asset Income and Growth Fund	COM	67074Y105	1,285	71,412	SH		OTR	1	51,737	19,675	0
Nuveen S&P 500 Dynamic Overwrite Fund	COM	6706EW100	6	384	SH		SOLE		384	0	0
Nuveen Select Tax-Free Income 2 Portfolio	SH BEN INT	67063C106	165	11,722	SH		SOLE		11,722	0	0
Nuveen Select Tax-Free Income 3 Portfolio	SH BEN INT	67063X100	158	10,382	SH		SOLE		10,382	0	0
Nuveen Select Tax-Free Income Portfolio	SH BEN INT	67062F100	234	15,655	SH		SOLE		15,655	0	0
Nuveen Tax-Advantaged Dividend Growth Fund	COM	67073G105	67	3,950	SH		SOLE		3,950	0	0
Occidental Petroleum Corp	COM	674599105	5	83	SH		SOLE		83	0	0
Pampa Energia S A	SPONS ADR LVL I	697660207	10	159	SH		SOLE		159	0	0
Pfizer Inc	COM	717081103	35	990	SH		SOLE		990	0	0
Philip Morris International Inc	COM	718172109	10	89	SH		SOLE		89	0	0
PIMCO Dynamic Credit and Mortgage Income Fund	COM SHS	72202D106	86	3,733	SH		SOLE		3,733	0	0
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund	ENHAN SHRT MA AC	72201R833	2,538	24,932	SH		SOLE		24,932	0	0
Pioneer Diversified High Income Trust	COM	723653101	3	200	SH		SOLE		200	0	0
Pioneer High Income Trust	COM	72369H106	51	5,100	SH		SOLE		5,100	0	0
Pioneer Municipal High Income Advantage Trust	COM	723762100	126	10,879	SH		SOLE		10,879	0	0
Pioneer Municipal High Income Trust	COM SHS	723763108	181	15,073	SH		SOLE		15,073	0	0
Popular Inc	COM NEW	733174700	2,189	60,900	SH		SOLE		60,900	0	0
PriceSmart Inc	COM	741511109	89	1,000	SH		SOLE		1,000	0	0
Principal Real Estate Income Fund	SHS BEN INT	74255X104	176	9,815	SH		SOLE		9,815	0	0
Prudential PLC	ADR	74435K204	8	163	SH		SOLE		163	0	0
Putnam High Income Securities Fund	SHS BEN INT	746779107	21	2,356	SH		SOLE		2,356	0	0
Putnam Managed Municipal Income Trust	COM	746823103	175	23,094	SH		SOLE		23,094	0	0
Putnam Municipal Opportunities Trust	SH BEN INT	746922103	250	19,790	SH		SOLE		19,790	0	0
Raytheon Co	COM NEW	755111507	9	46	SH		SOLE		46	0	0
RENN Fund Inc	COM	759720105	40	28,272	SH		SOLE		28,272	0	0
Restaurant Brands International Inc	COM	76131D103	1	10	SH		SOLE		10	0	0
RMR Real Estate Income Fund	COM	76970B101	128	6,625	SH		SOLE		6,625	0	0
Royal Caribbean Cruises Ltd	COM	V7780T103	3,892	32,829	SH		SOLE		32,829	0	0
Royal Dutch Shell PLC	SPON ADR B	780259107	197	86	SH		SOLE		86	0	0
Royce Global Value Trust Inc	COM	78081T104	140	13,480	SH		SOLE		13,480	0	0
Royce Micro-Cap Trust Inc	COM	780915104	45	4,780	SH		SOLE		4,780	0	0
Royce Value Trust Inc	COM	780910105	2,412	152,731	SH		SOLE		152,731	0	0
Salient Midstream & MLP Fund	SH BEN INT	79471V105	1,362	117,694	SH		SOLE		117,694	0	0
Sanofi	SPONSORED ADR	80105N105	10	192	SH		SOLE		192	0	0
SAP SE	SPON ADR	803054204	9	83	SH		SOLE		83	0	0
Schlumberger Ltd	COM	806857108	26	370	SH		SOLE		370	0	0
Seaboard Corp	COM	811543107	2,635	585	SH		SOLE		585	0	0
SEACOR Holdings Inc	COM	811904101	92	2,000	SH		SOLE		2,000	0	0
SEACOR Marine Holdings Inc	COM	78413P101	31	2,010	SH		SOLE		2,010	0	0
Shire PLC	SPONSORED ADR	82481R106	7	43	SH		SOLE		43	0	0
Simon Property Group Inc	COM	828806109	8	47	SH		SOLE		47	0	0
SK Telecom Co Ltd	SPONSORED ADR	78440P108	5	218	SH		SOLE		218	0	0
Sony Corp	SPONSORED ADR	835699307	58	1,558	SH		SOLE		1,558	0	0
Source Capital Inc	COM	836144105	3,482	86,566	SH		OTR	1	65,683	20,883	0
Special Opportunities Fund Inc	COM	84741T104	971	61,204	SH		SOLE		61,204	0	0
Sprott Focus Trust Inc	COM	85208J109	385	49,836	SH		SOLE		49,836	0	0
Statoil ASA	SPONSORED ADR	85771P102	41	2,056	SH		SOLE		2,056	0	0
Tahoe Resources Inc	COM	873868103	432	81,900	SH		SOLE		81,900	0	0
TCW Strategic Income Fund Inc	COM	872340104	128	22,000	SH		SOLE		22,000	0	0
TechnipFMC PLC	COM	G87110105	19	669	SH		SOLE		669	0	0
Teekay LNG Partners LP	PRTNRSHP UNITS	Y8564M105	171	9,589	SH		SOLE		9,589	0	0
Tekla Healthcare Investors	SH BEN INT	87911J103	10	404	SH		SOLE		404	0	0
Tekla Healthcare Opportunities Fund	SHS	879105104	10,615	571,609	SH		OTR	1	408,803	162,806	0
Tekla Life Sciences Investors	SH BEN INT	87911K100	1	69	SH		SOLE		69	0	0
Tekla World Healthcare Fund	BEN INT SHS	87911L108	6,699	460,084	SH		OTR	1	364,882	95,202	0
Templeton Dragon Fund Inc	COM	88018T101	481	23,135	SH		OTR	1	3,480	19,655	0
The Aberdeen Indonesia Fund Inc	COM	00305P106	107	13,727	SH		SOLE		13,727	0	0
The Asia Pacific Fund Inc	COM	044901106	71	5,150	SH		SOLE		5,150	0	0
The Bank of Nova Scotia	COM	064149107	5	81	SH		SOLE		81	0	0
The Boeing Co	COM	097023105	182	717	SH		SOLE		717	0	0
The China Fund Inc	COM	169373107	275	13,537	SH		OTR	1	3,500	10,037	0
The Coca-Cola Co	COM	191216100	42	940	SH		SOLE		940	0	0
The Cushing MLP Total Return Fund	COM NEW	231631201	119	9,899	SH		SOLE		9,899	0	0
The Cushing Renaissance Fund	COM	231647108	195	10,441	SH		SOLE		10,441	0	0
The European Equity Fund Inc	COM	298768102	337	34,836	SH		SOLE		34,836	0	0
The Gabelli Dividend & Income Trust	COM	36242H104	371	16,565	SH		SOLE		16,565	0	0
The Gabelli Global Small and Mid Cap Value Trust	COM	36249W104	9	700	SH		SOLE		700	0	0
The Gabelli Healthcare & WellnessRx Trust	SHS	36246K103	2,835	280,396	SH		OTR	1	195,041	85,355	0
The GDL Fund	COM SH BEN IT	361570104	51	5,000	SH		SOLE		5,000	0	0
The Goldman Sachs Group Inc	COM	38141G104	166	700	SH		SOLE		700	0	0
The Herzfeld Caribbean Basin Fund Inc	COM	42804T106	7,598	1,047,942	SH		DFND		456,410	591,532	0
The Home Depot Inc	COM	437076102	125	762	SH		SOLE		762	0	0
The India Fund Inc	COM	454089103	27	1,000	SH		SOLE		1,000	0	0
The Korea Fund Inc	COM NEW	500634209	473	11,695	SH		SOLE		11,695	0	0
The Kraft Heinz Co	COM	500754106	6	82	SH		SOLE		82	0	0
The Latin American Discovery Fund Inc	COM	51828C106	46	3,808	SH		SOLE		3,808	0	0
The Mexico Equity & Income Fund Inc	COM	592834105	1,237	106,740	SH		OTR	1	34,369	72,371	0
The New Germany Fund Inc	COM	644465106	2,585	139,188	SH		OTR	1	79,027	60,161	0
The New Ireland Fund Inc	COM	645673104	5	340	SH		SOLE		340	0	0
The Procter & Gamble Co	COM	742718109	72	794	SH		SOLE		794	0	0
The Swiss Helvetia Fund Inc	COM	870875101	25	1,950	SH		SOLE		1,950	0	0
The Taiwan Fund Inc	COM	874036106	1,046	50,804	SH		OTR	1	3,244	47,560	0
The Thai Fund Inc	COM	882904105	202	20,786	SH		SOLE		20,786	0	0
The Toronto-Dominion Bank	COM NEW	891160509	11	190	SH		SOLE		190	0	0
The Travelers Cos Inc	COM	89417E109	86	705	SH		SOLE		705	0	0
The Walt Disney Co	COM DISNEY	254687106	76	769	SH		SOLE		769	0	0
The Wendy's Co	COM	95058W100	1	42	SH		SOLE		42	0	0
The Western Union Co	COM	959802109	269	14,000	SH		SOLE		14,000	0	0
TICC Capital Corp	COM	87244T109	105	15,300	SH		SOLE		15,300	0	0
Tortoise Pipeline & Energy Fund Inc	COM	89148H108	3,920	203,550	SH		OTR	1	122,667	80,883	0
Tortoise Power and Energy Infrastructure Fund Inc	COM	89147X104	1,360	63,871	SH		OTR	1	53,439	10,432	0
Tri-Continental Corp	COM	895436103	1,470	57,534	SH		OTR	1	32,998	24,536	0
United States Oil Fund LP	UNITS	91232N108	10	1,000	SH		SOLE		1,000	0	0
United Technologies Corp	COM	913017109	90	773	SH		SOLE		773	0	0
UnitedHealth Group Inc	COM	91324P102	146	747	SH		SOLE		747	0	0
US Bancorp	COM NEW	902973304	5	97	SH		SOLE		97	0	0
Vale SA	ADR	91912E105	30	2,997	SH		SOLE		2,997	0	0
VanEck Vectors Gold Miners ETF	GOLD MINERS ETF	92189F106	69	3,000	SH		SOLE		3,000	0	0
Vanguard Short-Term Bond ETF	SHORT TRM BOND	921937827	503	6,300	SH		SOLE		6,300	0	0
VEON Ltd	SPONSORED ADR	91822M106	7	1,586	SH		SOLE		1,586	0	0
Verizon Communications Inc	COM	92343V104	44	890	SH		SOLE		890	0	0
Virtus Total Return Fund Inc	COM	92837G100	2,105	161,443	SH		SOLE		161,443	0	0
Visa Inc	COM CL A	92826C839	81	770	SH		SOLE		770	0	0
Vulcan Materials Co	COM	929160109	598	5,000	SH		SOLE		5,000	0	0
Wal-Mart Stores Inc	COM	931142103	64	822	SH		SOLE		822	0	0
Watsco Inc	COM	942622200	1,707	10,600	SH		SOLE		10,600	0	0
Western Asset Emerging Markets Debt Fund Inc	COM	95766A101	64	4,048	SH		SOLE		4,048	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Income Fund	COM	95766R104	346	30,700	SH		OTR	1	5,000	25,700	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	COM SH BEN INT	95766Q106	298	25,799	SH		OTR	1	5,317	20,482	0