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	6	29	SH		SOLE		29	0	0
ABB Ltd	SPONSORED ADR	000375204	7	318	SH		SOLE		318	0	0
Aberdeen Emerging Markets Equity Inc.	COM	00301W105	1,944	277,742	SH		OTR	1	186,909	90,833	0
Aberdeen Global Dynamic Dividend Fund	COM	00302M106	2,387	232,885	SH		OTR	1	136,829	96,056	0
Aberdeen Japan Equity Fund Inc	COM	00306J109	2,561	289,683	SH		OTR	1	197,290	92,393	0
Aberdeen Total Dynamic Dividend Fund	COM SH BEN INT	00326L100	6,678	763,233	SH		OTR	1	545,002	218,231	0
Accenture PLC Ireland	SHS CLASS A	G1151C101	7	43	SH		SOLE		43	0	0
Adams Diversified Equity Fund Inc	COM	006212104	8,140	527,911	SH		OTR	1	429,120	98,791	0
Adams Natural Resources Fund Inc	COM	00548F105	2,724	135,589	SH		OTR	1	11,027	124,562	0
Advent Claymore Convertible Securities & Income Fund II	COM	007639107	23	4,042	SH		SOLE		4,042	0	0
Advent/Claymore Enhanced Growth & Income Fund	COM	00765E104	164	21,133	SH		SOLE		21,133	0	0
Aegon N V	NY REGISTRY SH	007924103	25	4,144	SH		SOLE		4,144	0	0
Alibaba Group Holding Limited	SPONSORED ADS	01609W102	11	60	SH		SOLE		60	0	0
Allegion PLC	ORD SHS	G0176J109	7	95	SH		SOLE		95	0	0
Alliance California Municipal Income Fund Inc	COM	018546101	247	18,771	SH		SOLE		18,771	0	0
AllianceBernstein National Municipal Income Fund Inc	COM	01864U106	133	10,507	SH		SOLE		10,507	0	0
AllianzGI Convertible & Income 2024 Target Term Fund	COM	01883H102	463	50,096	SH		SOLE		50,096	0	0
AllianzGI NFJ Dividend Interest & Premium Strategy Fund	COM	01883A107	1,645	130,386	SH		OTR	1	80	130,306	0
Altaba Inc	COM	021346101	120	1,633	SH		SOLE		1,633	0	0
America Movil SAB de CV	SPON ADR L SHS	02364W105	745	44,690	SH		SOLE		44,690	0	0
American Electric Power Co Inc	COM	025537101	6	83	SH		SOLE		83	0	0
American Express Co	COM	025816109	9	87	SH		SOLE		87	0	0
Amgen Inc	COM	031162100	129	700	SH		SOLE		700	0	0
Apollo Tactical Income Fund Inc	COM	037638103	5,190	332,696	SH		OTR	1	224,808	107,888	0
Apple Inc	COM	037833100	12	64	SH		SOLE		64	0	0
Ares Dynamic Credit Allocation Fund, Inc.	COM	04014F102	611	37,981	SH		SOLE		37,981	0	0
ASA Gold and Precious Metals Ltd	SHS	G3156P103	510	50,009	SH		SOLE		50,009	0	0
ASML Holding N V	N Y REGISTRY SHS	N07059210	9	43	SH		SOLE		43	0	0
ATN International Inc	COM	00215F107	633	11,988	SH		SOLE		11,988	0	0
Automatic Data Processing, Inc.	COM	053015103	6	44	SH		SOLE		44	0	0
Avianca Holdings SA	SPON ADR REP PFD	05367G100	1,431	221,569	SH		SOLE		221,569	0	0
Baidu Inc	SPON ADR REP A	056752108	35	143	SH		SOLE		143	0	0
Banco Bilbao Vizcaya Argentaria SA	SPONSORED ADR	05946K101	43	6,140	SH		SOLE		6,140	0	0
Bancolombia SA	SPON ADR PREF	05968L102	945	19,780	SH		SOLE		19,780	0	0
BHP Billiton Ltd	SPONSORED ADR	088606108	11	210	SH		SOLE		210	0	0
BioMarin Pharmaceutical Inc	COM	09061G101	30	316	SH		SOLE		316	0	0
BlackRock Credit Allocation Income Trust	COM	092508100	16	1,300	SH		SOLE		1,300	0	0
BlackRock Debt Strategies Fund	COM NEW	09255R202	158	14,095	SH		SOLE		14,095	0	0
BlackRock Enhanced Equity Dividend Trust	COM	09251A104	36	3,954	SH		SOLE		3,954	0	0
BlackRock Long-Term Municipal Advantage Trust	COM	09250B103	53	4,739	SH		SOLE		4,739	0	0
BlackRock Maryland Municipal Bond Trust	COM	09249L105	271	20,172	SH		SOLE		20,172	0	0
BlackRock Muni Intermediate Duration Fund Inc	COM	09253X102	61	4,590	SH		SOLE		4,590	0	0
BlackRock Muni New York Intermediate Duration Fund Inc	COM	09255F109	1	100	SH		SOLE		100	0	0
BlackRock Municipal 2030 Target Term Trust	COM SHS BEN IN	09257P105	113	5,231	SH		SOLE		5,231	0	0
Blackstone / GSO Strategic Credit Fund	COM SHS BEN IN	09257R101	88	5,581	SH		SOLE		5,581	0	0
Boulder Growth & Income Fund Inc	COM	101507101	12,504	1,216,304	SH		OTR	1	880,615	335,689	0
BrandywineGLOBAL - Global Income Opportunities Fund Inc.	COM	10537L104	44	3,864	SH		SOLE		3,864	0	0
Bristol-Myers Squibb Co	COM	110122108	94	1,700	SH		SOLE		1,700	0	0
British American Tobacco PLC	SPONSORED ADR	110448107	17	335	SH		SOLE		335	0	0
Canadian Natural Resources Ltd	COM	136385101	10	272	SH		SOLE		272	0	0
Carnival Corp	UNIT 99/99/9999	143658300	1,375	24,000	SH		SOLE		24,000	0	0
Celgene Corp	COM	151020104	24	300	SH		SOLE		300	0	0
Cemex SAB de CV	SPON ADR NEW	151290889	2,043	311,397	SH		SOLE		311,397	0	0
Central and Eastern European Fund Inc	COM	153436100	41	1,782	SH		SOLE		1,782	0	0
Central Securities Corp	COM	155123102	13,057	468,660	SH		OTR	1	315,025	153,635	0
China Petroleum & Chemical Corp	SPON ADR H SHS	16941R108	12	132	SH		SOLE		132	0	0
Chubb Ltd	COM	H1467J104	8	63	SH		SOLE		63	0	0
ClearBridge American Energy MLP Fund Inc	COM	184691103	57	7,604	SH		SOLE		7,604	0	0
ClearBridge Energy MLP Total Return Fund Inc	COM	18469Q108	118	10,524	SH		SOLE		10,524	0	0
Coca-Cola European Partners PLC	SHS	G25839104	9	230	SH		SOLE		230	0	0
Cohen & Steers Closed-End Opportunity Fund, Inc.	COM	19248P106	632	49,197	SH		SOLE		49,197	0	0
Cohen & Steers MLP Income and Energy Opportunity Fund Inc	COM SHS	19249B106	1,178	117,309	SH		OTR	1	87,455	29,854	0
Consolidated Water Co Ltd	ORD	G23773107	1,671	129,538	SH		SOLE		129,538	0	0
Copa Holdings SA	CL A	P31076105	2,303	24,340	SH		SOLE		24,340	0	0
Cornerstone Strategic Value Fund Inc	COM	21924B302	24	1,727	SH		SOLE		1,727	0	0
Credit Suisse Asset Management Income Fund Inc	COM	224916106	205	64,866	SH		SOLE		64,866	0	0
Credit Suisse Group AG	SPONSORED ADR	225401108	7	477	SH		SOLE		477	0	0
Ctrip.com International Ltd	AMERICAN DEP SHS	22943F100	6	123	SH		SOLE		123	0	0
Delaware Investments Minnesota Municipal Income Fund II Inc	COM	24610V103	53	4,272	SH		SOLE		4,272	0	0
Deutsche Municipal Income Trust	COM	25160C106	143	13,000	SH		SOLE		13,000	0	0
Deutsche Strategic Income Trust	SHS	25160F109	5	400	SH		SOLE		400	0	0
Diageo PLC	SPON ADR NEW	25243Q205	40	278	SH		SOLE		278	0	0
DowDuPont Inc	COM	26078J100	8	116	SH		SOLE		116	0	0
Dreyfus Municipal Bond Infrastructure Fund Inc	SHS	26203D101	72	5,776	SH		SOLE		5,776	0	0
Dreyfus Strategic Municipals, Inc.	COM	261932107	230	30,000	SH		SOLE		30,000	0	0
DTF Tax-Free Income Inc	COM	23334J107	246	18,445	SH		SOLE		18,445	0	0
Eagle Point Credit Co Inc	COM	269808101	11,192	615,955	SH		OTR	1	472,019	143,936	0
Eaton Vance California Municipal Bond Fund II	COM	27828C106	42	3,880	SH		SOLE		3,880	0	0
Eaton Vance California Municipal Income Trust	SH BEN INT	27826F101	228	19,858	SH		SOLE		19,858	0	0
Eaton Vance Limited Duration Income Fund	COM	27828H105	1,255	99,788	SH		SOLE		99,788	0	0
Eaton Vance New Jersey Municipal Income Trust	SH BEN INT	27826V106	97	8,591	SH		SOLE		8,591	0	0
Eaton Vance Ohio Municipal Income Trust	SH BEN INT	27826G109	102	8,200	SH		SOLE		8,200	0	0
Eaton Vance Short Duration Diversified Income Fund	COM	27828V104	568	43,596	SH		SOLE		43,596	0	0
Eli Lilly & Co	COM	532457108	51	600	SH		SOLE		600	0	0
Embraer S A	SP ADR REP 4 COM	29082A107	8	337	SH		SOLE		337	0	0
Empire State Realty Trust Inc	CL A	292104106	836	48,894	SH		SOLE		48,894	0	0
Enzo Biochem Inc	COM	294100102	66	12,629	SH		SOLE		12,629	0	0
Equinix Inc	COM PAR $0.001	29444U700	25	57	SH		SOLE		57	0	0
Equus Total Return Inc	COM	294766100	92	39,150	SH		SOLE		39,150	0	0
Era Group Inc	COM	26885G109	174	13,474	SH		SOLE		13,474	0	0
EVERTEC Inc	COM	30040P103	517	23,643	SH		SOLE		23,643	0	0
Exxon Mobil Corp	COM	30231G102	6	73	SH		SOLE		73	0	0
Fiduciary/Claymore MLP Opportunity Fund	COM	31647Q106	2,756	235,755	SH		SOLE		235,755	0	0
First BanCorp/Puerto Rico	COM NEW	318672706	2,143	280,077	SH		SOLE		280,077	0	0
First Trust Aberdeen Global Opportunity Income Fund	COM SHS	337319107	21	2,100	SH		SOLE		2,100	0	0
First Trust Energy Income and Growth Fund	COM	33738G104	144	6,257	SH		OTR	1	0	6,257	0
First Trust Energy Infrastructure Fund	COM	33738C103	947	57,550	SH		SOLE		57,550	0	0
First Trust High Income Long/Short Fund	COM	33738E109	1,576	106,999	SH		SOLE		106,999	0	0
First Trust Mortgage Income Fund	COM SHS	33734E103	279	20,795	SH		SOLE		20,795	0	0
Flaherty & Crumrine Dynamic Preferred and Income Fund	SHS	33848W106	4	191	SH		SOLE		191	0	0
Fomento Economico Mexicano SAB de CV	SPON ADR UNITS	344419106	1,304	14,848	SH		SOLE		14,848	0	0
Fortress Biotech Inc	COM	34960Q109	8	2,749	SH		SOLE		2,749	0	0
Fresh Del Monte Produce Inc	ORD	G36738105	1,893	42,500	SH		SOLE		42,500	0	0
Gabelli Equity Trust Inc	COM	362397101	30	4,787	SH		SOLE		4,787	0	0
General American Investors Co Inc	COM	368802104	6,443	187,740	SH		OTR	1	144,960	42,780	0
General Electric Co	COM	369604103	36	2,663	SH		SOLE		2,663	0	0
Gildan Activewear Inc	COM	375916103	5	178	SH		SOLE		178	0	0
Goldman Sachs MLP Income Opportunities Fund	COM SHS	38147W103	28	3,051	SH		SOLE		3,051	0	0
Grupo Aeroportuario del Sureste SAB de CV	SPON ADR SER B	40051E202	1,050	6,600	SH		SOLE		6,600	0	0
Grupo Televisa SAB	SPON ADR REP ORD	40049J206	538	28,400	SH		SOLE		28,400	0	0
Guggenheim Enhanced Equity Income Fund	COM	40167B100	23	2,774	SH		SOLE		2,774	0	0
GW Pharmaceuticals PLC	ADS	36197T103	7	51	SH		SOLE		51	0	0
Highland Floating Rate Opportunities Fund	SHS BEN INT	43010E404	145	9,259	SH		SOLE		9,259	0	0
Home BancShares Inc	COM	436893200	641	28,416	SH		SOLE		28,416	0	0
ICICI Bank Ltd	ADR	45104G104	45	5,557	SH		SOLE		5,557	0	0
Incyte Corp	COM	45337C102	16	242	SH		SOLE		242	0	0
ING Groep NV	SPONSORED ADR	456837103	6	409	SH		SOLE		409	0	0
Inovio Pharmaceuticals Inc	COM NEW	45773H201	20	5,000	SH		SOLE		5,000	0	0
International Business Machines Corp	COM	459200101	7	50	SH		SOLE		50	0	0
Intuit	COM	461202103	5	26	SH		SOLE		26	0	0
Invesco Dynamic Credit Opportunities Fund	COM	46132R104	867	74,632	SH		SOLE		74,632	0	0
Invesco Municipal Opportunity Trust	COM	46132C107	234	19,900	SH		SOLE		19,900	0	0
Invesco Pennsylvania Value Municipal Income Trust	COM	46132K109	92	7,659	SH		SOLE		7,659	0	0
Invesco Quality Municipal Income Trust	COM	46133G107	21	1,725	SH		SOLE		1,725	0	0
Invesco Senior Income Trust	COM	46131H107	1,160	271,014	SH		SOLE		271,014	0	0
iShares International Preferred Stock ETF	INTL PFD STK ETF	46429B135	143	8,200	SH		SOLE		8,200	0	0
iShares Nasdaq Biotechnology ETF	NASDAQ BIOTECH	464287556	560	5,100	SH		SOLE		5,100	0	0
iShares Short Maturity Bond ETF	SHT MAT BD ETF	46431W507	502	10,000	SH		SOLE		10,000	0	0
iShares TIPS Bond ETF	TIPS BD ETF	464287176	46	410	SH		SOLE		410	0	0
iShares U.S. Medical Devices ETF	U.S. MED DVC ETF	464288810	572	2,850	SH		SOLE		2,850	0	0
iShares US Preferred Stock ETF	S&P US PFD STK	464288687	148	3,933	SH		SOLE		3,933	0	0
Ivy High Income Opportunities Fund	COM	465893105	57	3,995	SH		SOLE		3,995	0	0
Japan Smaller Capitalization Fund Inc	COM	47109U104	1,777	152,404	SH		OTR	1	62,237	90,167	0
Johnson & Johnson	COM	478160104	7	59	SH		SOLE		59	0	0
JPMorgan Chase & Co	COM	46625H100	10	98	SH		SOLE		98	0	0
Karyopharm Therapeutics Inc	COM	48576U106	25	1,500	SH		SOLE		1,500	0	0
Kayne Anderson Energy Development Company	COM	48660Q102	777	44,676	SH		OTR	1	2,127	42,549	0
Kayne Anderson Energy Total Return Fund Inc	COM	48660P104	85	9,000	SH		SOLE		9,000	0	0
Kayne Anderson Midstream/Energy Fund Inc	COM	48661E108	3,306	255,328	SH		OTR	1	151,615	103,713	0
Kayne Anderson MLP Investment Company	COM	486606106	588	31,980	SH		OTR	1	14,980	17,000	0
KKR Income Opportunities Fund	COM	48249T106	1,781	107,545	SH		SOLE		107,545	0	0
Koninklijke Philips NV	NY REG SH NEW	500472303	10	226	SH		SOLE		226	0	0
Lennar Corp	CL A	526057104	2,599	49,500	SH		SOLE		49,500	0	0
Liberty All Star Equity Fund	SH BEN INT	530158104	27	4,157	SH		SOLE		4,157	0	0
Liberty All Star Growth Fund Inc	COM	529900102	31	4,723	SH		SOLE		4,723	0	0
LivaNova PLC	SHS	G5509L101	832	8,330	SH		SOLE		8,330	0	0
Macquarie Global Infrastructure Total Return Fund Inc	COM	55608D101	115	5,086	SH		SOLE		5,086	0	0
MainStay DefinedTerm Municipal Opportunities Fund	COM	56064K100	188	9,695	SH		SOLE		9,695	0	0
Manning & Napier Inc	CL A	56382Q102	31	10,000	SH		SOLE		10,000	0	0
Manulife Financial Corp	COM	56501R106	5	303	SH		SOLE		303	0	0
Marriott Vacations Worldwide Corp	COM	57164Y107	1,440	12,745	SH		SOLE		12,745	0	0
Martin Marietta Materials Inc	COM	573284106	670	3,000	SH		SOLE		3,000	0	0
MasTec Inc	COM	576323109	5,801	114,297	SH		SOLE		114,297	0	0
McDonald's Corp	COM	580135101	10	66	SH		SOLE		66	0	0
Melco Resorts & Entertainment Ltd	ADR	585464100	7	257	SH		SOLE		257	0	0
Merck & Co Inc	COM	58933Y105	121	2,000	SH		SOLE		2,000	0	0
MFS High Income Municipal Trust	SH BEN INT	59318D104	203	40,746	SH		SOLE		40,746	0	0
MFS High Yield Municipal Trust	SH BEN INT	59318E102	283	62,755	SH		SOLE		62,755	0	0
MFS Investment Grade Municipal Trust	SH BEN INT	59318B108	974	105,310	SH		SOLE		105,310	0	0
MFS Municipal Income Trust	SH BEN INT	552738106	305	46,255	SH		SOLE		46,255	0	0
Microsoft Corp	COM	594918104	12	121	SH		SOLE		121	0	0
Mitsubishi UFJ Financial Group Inc	SPONSORED ADS	606822104	8	1,477	SH		SOLE		1,477	0	0
Morgan Stanley Asia-Pacific Fund Inc	COM	61744U106	26	1,502	SH		SOLE		1,502	0	0
Morgan Stanley Emerging Markets Fund Inc	COM	61744G107	12	716	SH		SOLE		716	0	0
Morgan Stanley India Investment Fund Inc	COM	61745C105	95	3,674	SH		SOLE		3,674	0	0
MVC Capital Inc	COM	553829102	13	1,338	SH		SOLE		1,338	0	0
NetEase Inc	SPONSORED ADR	64110W102	32	125	SH		SOLE		125	0	0
Neuberger Berman MLP Income Fund Inc	COM	64129H104	1,951	222,482	SH		SOLE		222,482	0	0
New Oriental Education & Technology Group Inc	SPON ADR	647581107	9	94	SH		SOLE		94	0	0
NexPoint Credit Strategies Fund	COM NEW	65340G205	24,435	1,113,198	SH		OTR	1	768,054	345,144	0
NextEra Energy Inc	COM	65339F101	1,011	6,051	SH		SOLE		6,051	0	0
Northrop Grumman Corporation	COM	666807102	7	22	SH		SOLE		22	0	0
Norwegian Cruise Line Holdings Ltd	SHS	G66721104	2,691	56,944	SH		SOLE		56,944	0	0
Novartis AG	SPONSORED ADR	66987V109	38	500	SH		SOLE		500	0	0
Nuveen AMT-Free Quality Municipal Income Fund	COM	670657105	85	6,553	SH		SOLE		6,553	0	0
Nuveen California Quality Municipal Income Fund	COM	67066Y105	1,976	147,878	SH		SOLE		147,878	0	0
Nuveen Core Equity Alpha Fund	COM	67090X107	35	2,374	SH		SOLE		2,374	0	0
Nuveen Credit Strategies Income Fund	COM SHS	67073D102	3,264	410,615	SH		SOLE		410,615	0	0
Nuveen Floating Rate Income Opportunity Fund	COM SHS	6706EN100	715	68,646	SH		SOLE		68,646	0	0
Nuveen Global High Income Fund	SHS	67075G103	136	8,839	SH		SOLE		8,839	0	0
Nuveen Intermediate Duration Municipal Term Fund	COM	670671106	96	7,710	SH		SOLE		7,710	0	0
Nuveen Maryland Quality Municipal Income Fund	COM	67061Q107	18	1,448	SH		SOLE		1,448	0	0
Nuveen Multi-Market Income Fund Inc	COM	67075J107	659	94,078	SH		SOLE		94,078	0	0
Nuveen NASDAQ 100 Dynamic Overwrite Fund	COM SHS	670699107	41	1,576	SH		SOLE		1,576	0	0
Nuveen New Jersey Quality Municipal Income Fund	COM	67069Y102	84	6,456	SH		SOLE		6,456	0	0
Nuveen New York AMT-Free Quality Municipal Income Fund	COM	670656107	122	10,000	SH		SOLE		10,000	0	0
Nuveen Quality Municipal Income Fund	COM	67066V101	105	7,920	SH		SOLE		7,920	0	0
Nuveen Real Asset Income and Growth Fund	COM	67074Y105	234	14,501	SH		SOLE		14,501	0	0
Nuveen Select Tax-Free Income 2 Portfolio	SH BEN INT	67063C106	37	2,722	SH		SOLE		2,722	0	0
Nuveen Select Tax-Free Income 3 Portfolio	SH BEN INT	67063X100	208	14,341	SH		SOLE		14,341	0	0
Nuveen Select Tax-Free Income Portfolio	SH BEN INT	67062F100	111	7,740	SH		SOLE		7,740	0	0
Orange S.A.	SPONSORED ADR	684060106	5	321	SH		SOLE		321	0	0
Oxford Lane Capital Corp	COM	691543102	1,698	162,969	SH		SOLE		162,969	0	0
Oxford Square Capital Corp.	COM	69181V107	523	75,725	SH		SOLE		75,725	0	0
Pampa Energia S A	SPONS ADR LVL I	697660207	5	127	SH		SOLE		127	0	0
PepsiCo, Inc.	COM	713448108	10	95	SH		SOLE		95	0	0
Pfizer Inc	COM	717081103	8	233	SH		SOLE		233	0	0
PGIM Global Short Duration High Yield Fund, Inc.	COM	69346J106	1,796	131,462	SH		SOLE		131,462	0	0
PGIM Short Duration High Yield Fund, Inc.	COM	69346H100	4,665	333,227	SH		OTR	1	240,038	93,189	0
PIMCO California Municipal Income Fund II	COM	72200M108	110	13,230	SH		SOLE		13,230	0	0
PIMCO California Municipal Income Fund III	COM	72201C109	290	27,959	SH		SOLE		27,959	0	0
PIMCO Dynamic Credit and Mortgage Income Fund	COM SHS	72202D106	388	16,450	SH		SOLE		16,450	0	0
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund	ENHAN SHRT MA AC	72201R833	3,579	35,248	SH		SOLE		35,248	0	0
PIMCO Income Strategy Fund	COM	72201H108	221	18,623	SH		SOLE		18,623	0	0
PIMCO Municipal Income Fund	COM	72200R107	370	28,122	SH		SOLE		28,122	0	0
PIMCO New York Municipal Income Fund III	COM	72201E105	282	30,916	SH		SOLE		30,916	0	0
Pioneer Diversified High Income Trust	COM	723653101	360	24,693	SH		SOLE		24,693	0	0
Pioneer High Income Trust	COM	72369H106	237	25,514	SH		SOLE		25,514	0	0
Pioneer Municipal High Income Advantage Trust	COM	723762100	59	5,405	SH		SOLE		5,405	0	0
Pioneer Municipal High Income Trust	COM SHS	723763108	197	17,288	SH		SOLE		17,288	0	0
Popular Inc	COM NEW	733174700	2,581	57,100	SH		SOLE		57,100	0	0
Principal Real Estate Income Fund	SHS BEN INT	74255X104	368	20,707	SH		SOLE		20,707	0	0
ProShares Short VIX Short-Term Futures ETF	SHT VIX ST TRM	74347W627	12	977	SH		SOLE		977	0	0
Prudential PLC	ADR	74435K204	8	168	SH		SOLE		168	0	0
Putnam Managed Municipal Income Trust	COM	746823103	76	10,794	SH		SOLE		10,794	0	0
Putnam Municipal Opportunities Trust	SH BEN INT	746922103	85	7,242	SH		SOLE		7,242	0	0
Raytheon Co	COM NEW	755111507	11	59	SH		SOLE		59	0	0
Reaves Utility Income Fund	COM SH BEN INT	756158101	4,796	165,892	SH		OTR	1	132,918	32,974	0
RENN Fund Inc	COM	759720105	35	22,847	SH		SOLE		22,847	0	0
Restaurant Brands International Inc	COM	76131D103	1	10	SH		SOLE		10	0	0
RMR Real Estate Income Fund	COM	76970B101	80	4,401	SH		SOLE		4,401	0	0
Royal Caribbean Cruises Ltd	COM	V7780T103	3,194	30,829	SH		SOLE		30,829	0	0
Royal Dutch Shell PLC	SPON ADR B	780259107	236	87	SH		SOLE		87	0	0
Royce Global Value Trust Inc	COM	78081T104	43	4,104	SH		SOLE		4,104	0	0
Royce Value Trust Inc	COM	780910105	115	7,280	SH		SOLE		7,280	0	0
Salient Midstream & MLP Fund	SH BEN INT	79471V105	1,827	183,442	SH		OTR	1	156,240	27,202	0
Sanofi	SPONSORED ADR	80105N105	7	173	SH		SOLE		173	0	0
SAP SE	SPON ADR	803054204	9	77	SH		SOLE		77	0	0
Schlumberger Ltd	COM	806857108	23	348	SH		SOLE		348	0	0
Sea Limited	ADR	81141R100	15	998	SH		SOLE		998	0	0
Seaboard Corp	COM	811543107	2,318	585	SH		SOLE		585	0	0
Simon Property Group Inc	COM	828806109	6	34	SH		SOLE		34	0	0
SK Telecom Co Ltd	SPONSORED ADR	78440P108	5	224	SH		SOLE		224	0	0
Sony Corp	SPONSORED ADR	835699307	57	1,108	SH		SOLE		1,108	0	0
Source Capital Inc	COM	836144105	3,294	82,878	SH		OTR	1	61,995	20,883	0
Special Opportunities Fund Inc	COM	84741T104	829	55,202	SH		SOLE		55,202	0	0
Sprott Focus Trust Inc	COM	85208J109	345	44,065	SH		SOLE		44,065	0	0
Sprott Physical Gold and Silver Trust	TR UNIT	85208R101	100	8,000	SH		SOLE		8,000	0	0
Stryker Corporation	COM	863667101	8	50	SH		SOLE		50	0	0
Suncor Energy Inc	COM	867224107	18	436	SH		SOLE		436	0	0
Tahoe Resources Inc	COM	873868103	403	81,900	SH		SOLE		81,900	0	0
TCW Strategic Income Fund Inc	COM	872340104	121	22,000	SH		SOLE		22,000	0	0
TechnipFMC PLC	COM	G87110105	13	409	SH		SOLE		409	0	0
Teekay LNG Partners LP	PRTNRSP UNITS	Y8564M105	162	9,589	SH		SOLE		9,589	0	0
Tekla Healthcare Investors	SH BEN INT	87911J103	1,720	80,013	SH		SOLE		80,013	0	0
Tekla Healthcare Opportunities Fund	SHS	879105104	10,316	605,420	SH		OTR	1	407,357	198,063	0
Tekla Life Science Investors	SH BEN INT	87911K100	50	2,673	SH		SOLE		2,673	0	0
Tekla World Healthcare Fund	BEN INT SHS	87911L108	7,206	559,943	SH		OTR	1	371,251	188,692	0
Templeton Dragon Fund Inc	COM	88018T101	450	21,135	SH		OTR	1	1,480	19,655	0
Tesla Inc	COM	88160R101	57	166	SH		SOLE		166	0	0
The Asia Pacific Fund Inc	COM	044901106	57	4,150	SH		SOLE		4,150	0	0
The Bank of Nova Scotia	COM	064149107	5	81	SH		SOLE		81	0	0
The China Fund Inc	COM	169373107	309	14,797	SH		OTR	1	3,760	11,037	0
The Cushing MLP Total Return Fund	COM NEW	231631201	101	8,439	SH		SOLE		8,439	0	0
The European Equity Fund Inc	COM	298768102	388	41,286	SH		SOLE		41,286	0	0
The Gabelli Dividend & Income Trust	COM	36242H104	112	4,975	SH		SOLE		4,975	0	0
The Gabelli Global Small and Mid Cap Value Trust	COM	36249W104	13	1,046	SH		SOLE		1,046	0	0
The Gabelli Healthcare & WellnessRx Trust	SHS	36246K103	2,570	256,511	SH		OTR	1	171,156	85,355	0
The GDL Fund	COM SH BEN IT	361570104	38	4,127	SH		SOLE		4,127	0	0
The Herzfeld Caribbean Basin Fund Inc	COM	42804T106	8,339	1,263,464	SH		DFND		602,776	660,688	0
The Home Depot Inc	COM	437076102	9	45	SH		SOLE		45	0	0
The India Fund Inc	COM	454089103	2,102	86,655	SH		OTR	1	55,868	30,787	0
The Korea Fund Inc	COM NEW	500634209	403	10,543	SH		SOLE		10,543	0	0
The Latin American Discovery Fund Inc	COM	51828C106	25	2,593	SH		SOLE		2,593	0	0
The Mexico Equity & Income Fund Inc	COM	592834105	1,736	168,051	SH		OTR	1	52,480	115,571	0
The New Germany Fund Inc	COM	644465106	2,969	162,761	SH		OTR	1	91,452	71,309	0
The New Ireland Fund Inc	COM	645673104	13	1,084	SH		SOLE		1,084	0	0
The PNC Financial Services Group Inc	COM	693475105	8	59	SH		SOLE		59	0	0
The Swiss Helvetia Fund Inc	COM	870875101	24	1,950	SH		SOLE		1,950	0	0
The Taiwan Fund Inc	COM	874036106	4,935	245,173	SH		OTR	1	160,957	84,216	0
The Toronto-Dominion Bank	COM NEW	891160509	12	201	SH		SOLE		201	0	0
The Travelers Companies, Inc.	COM	89417E109	5	40	SH		SOLE		40	0	0
The Walt Disney Co	COM DISNEY	254687106	7	68	SH		SOLE		68	0	0
The Wendy's Co	COM	95058W100	1	42	SH		SOLE		42	0	0
TJX Cos Inc	COM	872540109	6	58	SH		SOLE		58	0	0
Tortoise Energy Independence Fund Inc	COM	89148K101	145	11,512	SH		OTR	1	2,683	8,829	0
Tortoise Energy Infrastructure Corporation	COM	89147L100	1,059	39,662	SH		OTR	1	0	39,662	0
Tortoise Pipeline & Energy Fund Inc	COM	89148H108	3,756	218,882	SH		OTR	1	148,221	70,661	0
Tortoise Power and Energy Infrastructure Fund Inc	COM	89147X104	1,522	80,798	SH		OTR	1	57,466	23,332	0
Tri-Continental Corp	COM	895436103	197	7,440	SH		SOLE		7,440	0	0
Unilever N.V.	N Y SHS NEW	904784709	7	119	SH		SOLE		119	0	0
United States Oil Fund LP	UNITS	91232N108	15	1,000	SH		SOLE		1,000	0	0
United Technologies Corp	COM	913017109	6	45	SH		SOLE		45	0	0
UnitedHealth Group Inc	COM	91324P102	11	43	SH		SOLE		43	0	0
Vale SA	ADR	91912E105	10	816	SH		SOLE		816	0	0
VanEck Vectors Gold Miners ETF	GOLD MINERS ETF	92189F106	67	3,023	SH		SOLE		3,023	0	0
Vanguard Short-Term Bond ETF	SHORT TRM BOND	921937827	493	6,300	SH		SOLE		6,300	0	0
Verizon Communications Inc	COM	92343V104	6	117	SH		SOLE		117	0	0
Virtus Total Return Fund Inc	COM	92837G100	29	2,645	SH		SOLE		2,645	0	0
Visa Inc	COM CL A	92826C839	11	82	SH		SOLE		82	0	0
Voya Prime Rate Trust	SH BEN INT	92913A100	1,283	255,009	SH		SOLE		255,009	0	0
Vulcan Materials Co	COM	929160109	645	5,000	SH		SOLE		5,000	0	0
Wal-Mart Stores Inc	COM	931142103	8	91	SH		SOLE		91	0	0
Waste Management, Inc.	COM	94106L109	5	65	SH		SOLE		65	0	0
Watsco Inc	COM	942622200	1,711	9,600	SH		SOLE		9,600	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Income Fund	COM	95766R104	5,605	502,713	SH		OTR	1	349,746	152,967	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	COM SH BEN INT	95766Q106	2,160	188,970	SH		OTR	1	101,360	87,610	0
Zoetis Inc.	CL A	98978V103	7	85	SH		SOLE		85	0	0