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
Estimated average burden
hours per response:		23.8

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
Aberdeen Asia Pacific In Com	COM	003009107	790	188,539	SH		SOLE		188,539	0	0
Aberdeen Emerging Markets Equity Inc.	COM	00301W105	338	48,590	SH		SOLE		48,590	0	0
Aberdeen Global Dynamic Dividend Fund	COM	00302M106	1,488	154,235	SH		OTR	1	76,549	77,686	0
Aberdeen Global Premier Properties Fund	COM SH BEN INT	00302L108	996	160,195	SH		SOLE		160,195	0	0
Aberdeen Japan Equity Fund Inc	COM	00306J109	99	13,569	SH		SOLE		13,569	0	0
Aberdeen Total Dynamic Dividend Fund	COM SH BEN INT	00326L100	2,580	309,379	SH		OTR	1	171,310	138,069	0
Accenture PLC Ireland	SHS CLASS A	G1151C101	18	93	SH		SOLE		93	0	0
Adams Diversified Equity Fund Inc	COM	006212104	3,839	242,336	SH		SOLE		242,336	0	0
Adams Natural Resources Fund Inc	COM	00548F105	105	6,605	SH		SOLE		6,605	0	0
Advent Claymore Convertible Securities and Income Fund	COM	00764C109	378	25,954	SH		SOLE		25,954	0	0
Air products and Chemicals, Inc.	COM	009158106	7	30	SH		SOLE		30	0	0
Alcon, Inc.	ORD SHS	H01301128	11	192	SH		SOLE		192	0	0
Alibaba Group Holding Limited	SPONSORED ADS	01609W102	40	238	SH		SOLE		238	0	0
Allegion PLC	ORD SHS	G0176J109	10	95	SH		SOLE		95	0	0
AllianceBernstein National Municipal Income Fund Inc	COM	01864U106	142	10,311	SH		SOLE		10,311	0	0
Alphabet Inc.	CAP STK CL A	02079K305	10	8	SH		SOLE		8	0	0
Amazon Com Inc	COM	023135106	10	6	SH		SOLE		6	0	0
America Movil SAB de CV	SPON ADR L SHS	02364W105	664	44,690	SH		SOLE		44,690	0	0
American Electric Power Co Inc	COM	025537101	8	83	SH		SOLE		83	0	0
American Express Co	COM	025816109	11	91	SH		SOLE		91	0	0
American Tower Corporation	COM	03027X100	7	30	SH		SOLE		30	0	0
Amgen Inc	COM	031162100	135	700	SH		SOLE		700	0	0
Aon Plc	SHS CL A	G0408V102	18	94	SH		SOLE		94	0	0
Apollo Tactical Income Fund Inc	COM	037638103	5,537	365,499	SH		OTR	1	246,235	119,264	0
Apple Inc	COM	037833100	12	53	SH		SOLE		53	0	0
Ares Dynamic Credit Allocation Fund, Inc.	COM	04014F102	1,630	109,363	SH		SOLE		109,363	0	0
ASA Gold and Precious Metals Ltd	SHS	G3156P103	19	5,021	SH		SOLE		5,021	0	0
ASML Holding N V	N Y REGISTRY SHS	N07059210	41	164	SH		SOLE		164	0	0
Avianca Holdings SA	SPON ADR REP PFD	05367G100	1,092	300,029	SH		SOLE		300,029	0	0
Banco Bilbao Vizcaya Argentaria SA	SPONSORED ADR	05946K101	34	6,523	SH		SOLE		6,523	0	0
Banco Bradesco S.A.	SP ADR PFD	059460303	4	456	SH		SOLE		456	0	0
Bancolombia SA	SPON ADR PREF	05968L102	904	18,280	SH		SOLE		18,280	0	0
Becton Dickinson & Co	COM	075887109	7	27	SH		SOLE		27	0	0
BlackRock Calif Mun Income	COM SH BEN INT	09248E102	75	5,503	SH		SOLE		5,503	0	0
Blackrock Core Bd Tr	SHS BEN INT	09249E101	2,893	200,235	SH		OTR	1	119,910	80,325	0
BlackRock Credit Allocation Income Trust	COM	092508100	5,415	397,545	SH		OTR	1	322,545	75,000	0
BlackRock Debt Strategies Fund	COM NEW	09255R202	278	25,871	SH		SOLE		25,871	0	0
BlackRock Enhanced Equity Dividend Trust	COM	09251A104	14	1,576	SH		SOLE		1,576	0	0
Blackrock Income Tr Inc.	COM	09247F100	767	126,178	SH		SOLE		126,178	0	0
BlackRock Limited Duration Income Trust	COM SHS	09249W101	100	6,424	SH		SOLE		6,424	0	0
BlackRock Muni Intermediate Duration Fund Inc	COM	09253X102	925	65,248	SH		SOLE		65,248	0	0
BlackRock Municipal 2030 Target Term Trust	COM SHS BEN IN	09257P105	265	11,216	SH		SOLE		11,216	0	0
BlackRock Munihldngs Cali QL	COM	09254L107	219	15,476	SH		SOLE		15,476	0	0
Boulder Growth & Income Fund Inc	COM	101507101	12,445	1,111,151	SH		OTR	1	869,163	241,988	0
BrandywineGLOBAL - Global Income Opportunities Fund Inc.	COM	10537L104	1,269	104,917	SH		SOLE		104,917	0	0
Bristol-Myers Squibb Co	COM	110122108	86	1,700	SH		SOLE		1,700	0	0
Brookfield Global Listed Infr	COM SHS	11273Q109	570	41,562	SH		OTR	1	3,882	37,680	0
Brookfield Real Assets Incom	COM SH BEN INT	112830104	546	24,171	SH		OTR	1	1,800	22,371	0
Carnival Corp	UNIT 99/99/9999	143658300	1,159	26,518	SH		SOLE		26,518	0	0
Cemex SAB de CV	SPON ADR NEW	151290889	1,061	270,645	SH		SOLE		270,645	0	0
Central and Eastern European Fund Inc	COM	153436100	47	1,790	SH		SOLE		1,790	0	0
Central Securities Corp	COM	155123102	11,344	361,259	SH		OTR	1	281,440	79,819	0
Chubb Ltd	COM	H1467J104	15	90	SH		SOLE		90	0	0
Cisco Systems, Inc.	COM	17275R102	7	132	SH		SOLE		132	0	0
Coca Cola European Partners	SHS	G25839104	14	244	SH		SOLE		244	0	0
Consolidated Water Co Ltd	ORD	G23773107	1,155	70,025	SH		SOLE		70,025	0	0
Copa Holdings SA	CL A	P31076105	2,397	24,273	SH		SOLE		24,273	0	0
Cornerstone Strategic Value Fund Inc	COM	21924B302	13,256	1,166,932	SH		OTR	1	908,798	258,134	0
Cornerstone Total Rtrn Fd In	COM	21924U300	5,418	493,020	SH		OTR	1	449,008	44,012	0
CyberArk Software Ltd.	SHS	M2682V108	8	76	SH		SOLE		76	0	0
Delaware Investments Minnesota Municipal Income Fund II Inc	COM	24610V103	156	11,884	SH		SOLE		11,884	0	0
Deutsche Municipal Income Trust	COM	233368109	291	25,136	SH		SOLE		25,136	0	0
Diageo PLC	SPON ADR NEW	25243Q205	28	173	SH		SOLE		173	0	0
Duff & Phelps Util Copr	COM	26432K108	185	20,049	SH		SOLE		20,049	0	0
Eagle Point Credit Co Inc	COM	269808101	360	22,817	SH		SOLE		22,817	0	0
Eaton Vance Calif Mun Bd Fd	COM	27828A100	64	5,615	SH		SOLE		5,615	0	0
Eaton Vance California Municipal Income Trust	SH BEN INT	27826F101	22	1,618	SH		SOLE		1,618	0	0
Eaton Vance Limited Duration Income Fund	COM	27828H105	8,195	655,610	SH		OTR	1	480,105	175,505	0
Eaton Vance Mun Bd Fd	COM	27827X101	228	17,594	SH		SOLE		17,594	0	0
Eaton Vance Muni Income Trust	SH BEN INT	27826U108	127	9,869	SH		SOLE		9,869	0	0
Eaton Vance Short Duration Diversified Income Fund	COM	27828V104	906	69,601	SH		SOLE		69,601	0	0
Eli Lilly & Co	COM	532457108	67	600	SH		SOLE		600	0	0
Embraer S A	SP ADR REP 4 COM	29082A107	6	325	SH		SOLE		325	0	0
Empire State Realty Trust Inc	CL A	292104106	912	63,894	SH		SOLE		63,894	0	0
Equinix Inc	COM PAR $0.001	29444U700	23	40	SH		SOLE		40	0	0
Era Group Inc	COM	26885G109	142	13,474	SH		SOLE		13,474	0	0
EVERTEC Inc	COM	30040P103	529	16,956	SH		SOLE		16,956	0	0
Exxon Mobil Corp	COM	30231G102	3	45	SH		SOLE		45	0	0
First BanCorp/Puerto Rico	COM NEW	318672706	2,639	264,477	SH		SOLE		264,477	0	0
First Trust Aberdeen Global Opportunity Income Fund	COM SHS	337319107	644	60,947	SH		SOLE		60,947	0	0
First Trust Energy Infrastructure Fund	COM	33738C103	3,975	240,764	SH		OTR	1	177,344	63,420	0
First Trust Mortgage Income Fund	COM SHS	33734E103	171	12,210	SH		SOLE		12,210	0	0
Firsthand Technology Value Fund, Inc.	COM	33766Y100	557	72,817	SH		SOLE		72,817	0	0
Fomento Economico Mexicano SAB de CV	SPON ADR UNITS	344419106	1,364	14,896	SH		SOLE		14,896	0	0
Franklin Unvl Tr	SH BEN INT	355145103	704	93,375	SH		OTR	1	70,108	23,267	0
Fresh Del Monte Produce Inc	ORD	G36738105	1,444	42,341	SH		SOLE		42,341	0	0
Gabelli Equity Trust Inc	COM	362397101	33	5,447	SH		SOLE		5,447	0	0
General American Investors Co Inc	COM	368802104	6,541	179,946	SH		OTR	1	136,475	43,471	0
Great Elm Cap Corp	COM	390320109	1,234	150,525	SH		SOLE		150,525	0	0
Grupo Aeroportuario del Sureste SAB de CV	SPON ADR SER B	40051E202	1,007	6,600	SH		SOLE		6,600	0	0
Grupo Televisa SAB	SPON ADR REP ORD	40049J206	278	28,400	SH		SOLE		28,400	0	0
GW Pharmaceuticals PLC	ADS	36197T103	4	32	SH		SOLE		32	0	0
HDFC Bank Ltd	SPONSORED ADS	40415F101	7	130	SH		SOLE		130	0	0
Highland Floating Rate Opportunities Fund	SHS BEN INT	43010E404	14,589	1,092,809	SH		OTR	1	893,272	199,537	0
HIS Markit Ltd	SHS	G47567105	14	211	SH		SOLE		211	0	0
Incyte Corp	COM	45337C102	18	242	SH		SOLE		242	0	0
Ingersoll-Rand Plc	SHS	G47791101	10	78	SH		SOLE		78	0	0
Inovio Pharmaceuticals Inc	COM NEW	45773H201	10	5,000	SH		SOLE		5,000	0	0
Intuit	COM	461202103	6	24	SH		SOLE		24	0	0
Invesco Dynamic Credit Opportunities Fund	COM	46132R104	1,026	93,230	SH		SOLE		93,230	0	0
Invesco Exchng Traded Fd Tr	CEF INM COMPSI	46138E404	79	3,500	SH		SOLE		3,500	0	0
Invesco QQQ Tr	UNIT SER 1	46090E103	51	270	SH		SOLE		270	0	0
Invesco Senior Income Trust	COM	46131H107	2,332	555,234	SH		SOLE		555,234	0	0
iShares Nasdaq Biotechnology ETF	NASDAQ BIOTECH	464287556	552	5,550	SH		SOLE		5,550	0	0
Ishares Tr	SHORT TREAS BD	464288679	1,196	10,814	SH		SOLE		10,814	0	0
Ishares Tr 13 Yr	1 3 YR TREAS BD	464287457	635	7,481	SH		SOLE		7,481	0	0
Ishares Tr Short Term	SHRT NAT MUN ETF	464288158	408	3,826	SH		SOLE		3,826	0	0
iShares U.S. Medical Devices ETF	U.S. MED DVC ETF	464288810	760	3,075	SH		SOLE		3,075	0	0
iShares US Preferred Stock ETF	PFD AND INCM SEC	464288687	75	2,000	SH		SOLE		2,000	0	0
Itau Unibanco Holding S.A.	SPON ADR REP PFD	465562106	18	2,104	SH		SOLE		2,104	0	0
Ivy High Income Opportunities Fund	COM	465893105	257	18,781	SH		SOLE		18,781	0	0
Japan Smaller Capitalization Fund Inc	COM	47109U104	286	32,620	SH		SOLE		32,620	0	0
JPMorgan Chase & Co	COM	46625H100	14	116	SH		SOLE		116	0	0
Kaixin Auto Holdings	SHS	G5223X100	14	8,000	SH		SOLE		8,000	0	0
Karyopharm Therapeutics Inc	COM	48576U106	14	1,500	SH		SOLE		1,500	0	0
Kayne Anderson Midstream/Energy Fund Inc	COM	48661E108	690	63,756	SH		OTR	1	56,057	7,699	0
Kayne Anderson MLP Investment Company	COM	486606106	201	13,922	SH		SOLE		13,922	0	0
Koninklijke Philips NV	NY REG SH NEW	500472303	9	204	SH		SOLE		204	0	0
Lennar Corp	CL A	526057104	2,262	40,500	SH		SOLE		40,500	0	0
Liberty All Star Equity Fund	SH BEN INT	530158104	30	4,613	SH		SOLE		4,613	0	0
Liberty All Star Growth Fund Inc	COM	529900102	31	5,235	SH		SOLE		5,235	0	0
LivaNova PLC	SHS	G5509L101	615	8,330	SH		SOLE		8,330	0	0
Lululemon Athletica Inc	COM	550021109	10	52	SH		SOLE		52	0	0
Macquarie Global Infrastructure Total Return Fund Inc	COM	55608D101	419	17,400	SH		OTR	1	7,119	10,281	0
Marriott Vacations Worldwide Corp	COM	57164Y107	1,735	16,745	SH		SOLE		16,745	0	0
Martin Marietta Materials Inc	COM	573284106	822	3,000	SH		SOLE		3,000	0	0
MasTec Inc	COM	576323109	7,291	112,297	SH		SOLE		112,297	0	0
McDonald's Corp	COM	580135101	10	45	SH		SOLE		45	0	0
Medtronic plc	SHS	G5960L103	8	71	SH		SOLE		71	0	0
Merck & Co Inc	COM	58933Y105	233	2,763	SH		SOLE		2,763	0	0
MFS Charter Income Trust	SH BEN INT	552727109	1,361	163,787	SH		SOLE		163,787	0	0
MFS Government Markets Income Trust	SH BEN INT	552939100	358	77,693	SH		SOLE		77,693	0	0
MFS Investment Grade Municipal Trust	SH BEN INT	59318B108	848	85,413	SH		SOLE		85,413	0	0
MFS Multimarket Income Trust	SH BEN INT	552737108	2,268	383,739	SH		SOLE		383,739	0	0
MFS Municipal Income Trust	SH BEN INT	552738106	159	22,614	SH		SOLE		22,614	0	0
Microsoft Corp	COM	594918104	20	144	SH		SOLE		144	0	0
Morgan Stanley India Investment Fund Inc	COM	61745C105	1,026	54,122	SH		OTR	1	4,122	50,000	0
MorphoSys AG	SPONSORED ADS	617760202	23	837	SH		SOLE		837	0	0
Neuberger Berman MLP Income Fund Inc	COM	64129H104	9	1,296	SH		SOLE		1,296	0	0
Neuberger Brman NY Muni Fd	COM	64124K102	3	241	SH		SOLE		241	0	0
New Oriental Education & Technology Group Inc	SPON ADR	647581107	6	56	SH		SOLE		56	0	0
NexPoint Credit Strategies Fund	COM NEW	65340G205	24,752	1,380,452	SH		OTR	1	929,569	450,883	0
NextEra Energy Inc	COM	65339F101	1,409	6,049	SH		SOLE		6,049	0	0
Northrop Grumman Corporation	COM	666807102	10	27	SH		SOLE		27	0	0
Norwegian Cruise Line Holdings Ltd	SHS	G66721104	2,948	56,944	SH		SOLE		56,944	0	0
Novartis AG	SPONSORED ADR	66987V109	119	1,368	SH		SOLE		1,368	0	0
Nuveen AMT-Free Quality Municipal Income Fund	COM	670657105	102	7,136	SH		SOLE		7,136	0	0
Nuveen Core Equity Alpha Fund	COM	67090X107	37	2,610	SH		SOLE		2,610	0	0
Nuveen Credit Strategies Income Fund	COM SHS	67073D102	11,865	1,586,173	SH		OTR	1	1,255,230	330,943	0
Nuveen Floating Rate Income Opportunity Fund	COM SHS	6706EN100	3,090	323,905	SH		OTR	1	193,305	130,600	0
Nuveen Multi-Market Income Fund Inc	COM	67075J107	7	1,002	SH		SOLE		1,002	0	0
Nuveen NASDAQ 100 Dynamic Overwrite Fund	COM SHS	670699107	38	1,722	SH		SOLE		1,722	0	0
Nuveen New Jersey Quality Municipal Income Fund	COM	67069Y102	93	6,456	SH		SOLE		6,456	0	0
Nuveen Preferred Income Opportunities Fund	SPONSORED ADR	636274409	13	239	SH		SOLE		239	0	0
Nuveen Real Asset Income and Growth Fund	COM	67074Y105	332	18,986	SH		SOLE		18,986	0	0
Nuveen Select Tax-Free Income 3 Portfolio	SH BEN INT	67063X100	3	186	SH		SOLE		186	0	0
OFS Credit Company Inc	COM	67111Q107	9,092	518,513	SH		OTR	1	448,310	70,203	0
ON Semiconductor Corporation	COM	682189105	27	1,429	SH		SOLE		1,429	0	0
Orange S.A.	SPONSORED ADR	684060106	8	483	SH		SOLE		483	0	0
Oxford Square Capital Corp.	COM	69181V107	881	141,463	SH		SOLE		141,463	0	0
PagSeguro Digital Ltd.	COM CL A	G68707101	7	146	SH		SOLE		146	0	0
PepsiCo, Inc.	COM	713448108	12	88	SH		SOLE		88	0	0
Pfizer Inc	COM	717081103	5	129	SH		SOLE		129	0	0
PGIM Global Short Duration High Yield Fund, Inc.	COM	69346J106	6,470	450,220	SH		OTR	1	367,538	82,682	0
PGIM Short Duration High Yield Fund, Inc.	COM	69346H100	7,593	507,924	SH		OTR	1	349,735	158,189	0
PGT Innovations Inc	COM	69336V101	1,039	60,170	SH		SOLE		60,170	0	0
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund	ENHAN SHRT MA AC	72201R833	1,159	11,397	SH		SOLE		11,397	0	0
PIMCO ETF Tr	SHTRM MUN BD ACT	72201R874	1,280	25,278	SH		SOLE		25,278	0	0
PIMCO Global StocksPLS Inc.	COM	722011103	54	4,657	SH		SOLE		4,657	0	0
Pimco New York Municipal Income Fund II	COM	72200Y102	255	21,356	SH		SOLE		21,356	0	0
Pioneer Municipal High Income Advantage Trust	COM	723762100	621	56,726	SH		SOLE		56,726	0	0
Pioneer Municipal High Income Trust	COM SHS	723763108	7	600	SH		SOLE		600	0	0
Popular Inc	COM NEW	733174700	2,987	55,230	SH		SOLE		55,230	0	0
Principal Real Estate Income Fund	SHS BEN INT	74255X104	427	20,749	SH		SOLE		20,749	0	0
ProShares Short VIX Short-Term Futures ETF	SHT VIX ST TRM	74347W130	6	110	SH		SOLE		110	0	0
Prudential PLC	ADR	74435K204	5	136	SH		SOLE		136	0	0
PTC Inc.	COM	69370C100	16	239	SH		SOLE		239	0	0
Qudian Inc.	ADR	747798106	16	2,263	SH		SOLE		2,263	0	0
Raytheon Co	COM NEW	755111507	8	43	SH		SOLE		43	0	0
RELX Plc	SPONSORED ADR	759530108	10	406	SH		SOLE		406	0	0
Repay Holdings Corporation	COM CL A	76029L100	13	1,000	SH		SOLE		1,000	0	0
Restaurant Brands International Inc	COM	76131D103	8	112	SH		SOLE		112	0	0
Rivernorth Doubleline Strate	COM	76882G107	5	300	SH		SOLE		300	0	0
Rivernorth Opportunistic Mun	COM	76883F108	530	23,861	SH		SOLE		23,861	0	0
RMR Real Estate Income Fund	COM	76970B101	3,411	167,304	SH		OTR	1	122,048	45,256	0
Rogers Communications Inc	CL B	775109200	58	1,198	SH		SOLE		1,198	0	0
Royal Bk Cda Montreal Que	COM	780087102	9	106	SH		SOLE		106	0	0
Royal Caribbean Cruises Ltd	COM	V7780T103	3,383	31,229	SH		SOLE		31,229	0	0
Royal Dutch Shell PLC	SPON ADR B	780259107	661	276	SH		SOLE		276	0	0
Royce Value Trust Inc	COM	780910105	177	12,888	SH		SOLE		12,888	0	0
Sangamo Therapeutics, Inc.	COM	800677106	45	5,000	SH		SOLE		5,000	0	0
Sanofi	SPONSORED ADR	80105N105	6	135	SH		SOLE		135	0	0
SAP SE	SPON ADR	803054204	9	76	SH		SOLE		76	0	0
Sea Limited	ADR	81141R100	13	419	SH		SOLE		419	0	0
Seaboard Corp	COM	811543107	893	204	SH		SOLE		204	0	0
Simon Property Group Inc	COM	828806109	6	36	SH		SOLE		36	0	0
SK Telecom Co Ltd	SPONSORED ADR	78440P108	3	153	SH		SOLE		153	0	0
Social Capital Hedosophia Holdings Corp.	CL A	G8250R103	11	1,000	SH		SOLE		1,000	0	0
Sony Corp	SPONSORED ADR	835699307	89	1,501	SH		SOLE		1,501	0	0
Source Capital Inc	COM	836144105	2,200	60,257	SH		OTR	1	39,374	20,883	0
SPDR S&P 500 ETF Tr	TR UNIT	78462F103	65	220	SH		SOLE		220	0	0
SPDR S&P MidCap 400 ETF Tr	UTSER1 S&PDCRP	78467Y107	53	150	SH		SOLE		150	0	0
SPDR Ser Tr	SPDR BLOOMBERG	78468R663	1,000	10,919	SH		SOLE		10,919	0	0
Sprott Physical Gold and Silver Trust	TR UNIT	85208R101	113	8,000	SH		SOLE		8,000	0	0
Stryker Corporation	COM	863667101	10	45	SH		SOLE		45	0	0
Suncor Energy Inc	COM	867224107	19	607	SH		SOLE		607	0	0
Taiwan Semiconductor Manufacturing Company Limited	SPONSORED ADR	874039100	6	139	SH		SOLE		139	0	0
Takeda Pharmaceutical Co Ltd	SPONSORED ADR	874060205	74	4,279	SH		SOLE		4,279	0	0
TCW Strategic Income Fund Inc	COM	872340104	11	2,000	SH		SOLE		2,000	0	0
Templeton Dragon Fund Inc	COM	88018T101	23	1,300	SH		SOLE		1,300	0	0
The Bank of Nova Scotia	COM	064149107	4	73	SH		SOLE		73	0	0
The China Fund Inc	COM	169373107	26	1,341	SH		SOLE		1,341	0	0
The Cushing MLP Total Return Fund	COM NEW	231631201	9	889	SH		SOLE		889	0	0
The European Equity Fund Inc	COM	298768102	153	17,201	SH		SOLE		17,201	0	0
The Gabelli Dividend & Income Trust	COM	36242H104	64	2,985	SH		SOLE		2,985	0	0
The GDL Fund	COM SH BEN IT	361570104	40	4,355	SH		SOLE		4,355	0	0
The Herzfeld Caribbean Basin Fund Inc	COM	42804T106	6,767	1,063,952	SH		DFND		681,640	382,312	0
The Home Depot Inc	COM	437076102	9	40	SH		SOLE		40	0	0
The India Fund Inc	COM	454089103	1,441	70,182	SH		OTR	1	44,395	25,787	0
The Korea Fund Inc	COM NEW	500634209	73	2,671	SH		SOLE		2,671	0	0
The Mexico Equity & Income Fund Inc	COM	592834105	181	17,199	SH		SOLE		17,199	0	0
The New Germany Fund Inc	COM	644465106	1,766	127,395	SH		OTR	1	38,701	88,694	0
The New Ireland Fund Inc	COM	645673104	5	546	SH		SOLE		546	0	0
The Taiwan Fund Inc	COM	874036106	1,809	97,932	SH		OTR	1	24,342	73,590	0
The Toronto-Dominion Bank	COM NEW	891160509	10	167	SH		SOLE		167	0	0
The Travelers Companies, Inc.	COM	89417E109	4	29	SH		SOLE		29	0	0
The Walt Disney Co	COM DISNEY	254687106	11	82	SH		SOLE		82	0	0
Tiffany & Co.	COM	886547108	29	314	SH		SOLE		314	0	0
TJX Cos Inc	COM	872540109	6	116	SH		SOLE		116	0	0
Tortoise Power and Energy Infrastructure Fund Inc	COM	89147X104	2,496	138,583	SH		OTR	1	78,241	60,342	0
Total S.A.	SPONSORED ADR	89151E109	10	191	SH		SOLE		191	0	0
Tri-Continental Corp	COM	895436103	102	3,735	SH		SOLE		3,735	0	0
Unilever N.V.	N Y SHS NEW	904784709	15	257	SH		SOLE		257	0	0
United States Oil Fund LP	UNITS	91232N108	11	1,000	SH		SOLE		1,000	0	0
United Technologies Corp	COM	913017109	11	78	SH		SOLE		78	0	0
UnitedHealth Group Inc	COM	91324P102	56	257	SH		SOLE		257	0	0
VanEck Vectors Gold Miners ETF	GOLD MINERS ETF	92189F106	81	3,039	SH		SOLE		3,039	0	0
Verizon Communications Inc	COM	92343V104	7	113	SH		SOLE		113	0	0
Vertical Capital Income Fund	SHS BEN INT	92535C104	559	52,328	SH		SOLE		52,328	0	0
Viacom Inc.	COM	925550105	40	2,875	SH		SOLE		2,875	0	0
Virtus Total Return Fund Inc	COM	92837G100	14	1,246	SH		SOLE		1,246	0	0
Visa Inc	COM CL A	92826C839	13	74	SH		SOLE		74	0	0
Voya Emerging Mkts High Div	COM	92912P108	9	1,301	SH		SOLE		1,301	0	0
Voya Prime Rate Trust	SH BEN INT	92913A100	3,071	652,015	SH		SOLE		652,015	0	0
Vulcan Materials Co	COM	929160109	756	5,000	SH		SOLE		5,000	0	0
Wal-Mart Stores Inc	COM	931142103	12	99	SH		SOLE		99	0	0
Waste Management, Inc.	COM	94106L109	8	68	SH		SOLE		68	0	0
Watsco Inc	COM	942622200	1,015	6,000	SH		SOLE		6,000	0	0
Western Assest Intm Muni Fd	COM	958435109	282	30,684	SH		SOLE		30,684	0	0
Western Asset Emrg Mkt Debt	COM	95766A101	184	13,220	SH		SOLE		13,220	0	0
Western Asset Global High Income Fund Inc.	COM	95766B109	774	77,924	SH		SOLE		77,924	0	0
Western Asset Mun Hi Incm Fd	COM	95766N103	343	45,227	SH		SOLE		45,227	0	0
Western Asset Variable Rate	COM	957667108	16	982	SH		SOLE		982	0	0
Western Asset/Claymore Inflation-Linked Opportunities & Income Fund	COM	95766R104	414	37,385	SH		SOLE		37,385	0	0
Western Asset/Claymore Inflation-Linked Securities & Income Fund	COM SH BEN INT	95766Q106	292	25,178	SH		SOLE		25,178	0	0
Wix Com Ltd	SHS	M98068105	5	42	SH		SOLE		42	0	0
Zoetis Inc.	CL A	98978V103	11	91	SH		SOLE		91	0	0