Relative Value Partners 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
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	213	32,481	SH		SOLE		32,481	0	0
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	588	68,610	SH		SOLE		68,610	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	287	40,171	SH		SOLE		40,171	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	4,072	560,279	SH		SOLE		560,279	0	0
AFFILIATED MANAGERS GROUP	COM	008252108	400	4,100	SH		SOLE		4,100	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	25,612	2,348,693	SH		SOLE		2,348,693	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	686	78,531	SH		SOLE		78,531	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	104	25,000	SH		SOLE		25,000	0	0
ARES CAP CORP	COM	04010L103	4,127	264,882	SH		SOLE		264,882	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	3,624	271,497	SH		SOLE		271,497	0	0
BANK AMER CORP	COM	060505104	444	18,000	SH		SOLE		18,000	0	0
BARINGS BDC INC	COM	06759L103	8,259	916,626	SH		SOLE		916,626	0	0
BLACKROCK CR ALLCTN INC TR	COM	092508100	22,156	1,969,969	SH		SOLE		1,969,969	0	0
BLACKROCK DEBT STRAT FD INC	COM NEW	09255R202	414	42,097	SH		SOLE		42,097	0	0
BLACKROCK ENHANCED EQT DIV	COM	09251A104	643	82,777	SH		SOLE		82,777	0	0
BLACKROCK ENHANCED GOVT FUND	COM	09255K108	1,738	133,455	SH		SOLE		133,455	0	0
BLACKROCK FLOAT RATE OME STR	COM	09255X100	13,424	1,115,962	SH		SOLE		1,115,962	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	2,470	211,899	SH		SOLE		211,899	0	0
BLACKROCK LTD DURATION INC	COM SHS	09249W101	5,071	377,027	SH		SOLE		377,027	0	0
BLACKROCK MUNI INTER DR FD I	COM	09253X102	237	18,700	SH		SOLE		18,700	0	0
BLACKROCK MUNIHLDS INVSTM QL	COM	09254P108	2,022	158,714	SH		SOLE		158,714	0	0
BLACKROCK NY MUNI INC QLTY	COM	09249U105	386	31,995	SH		SOLE		31,995	0	0
BLACKROCK TCP CAP CORP	COM	09259E108	1,541	118,140	SH		SOLE		118,140	0	0
CHEVRON CORP	NEW COM	166764100	607	5,575	SH		SOLE		5,575	0	0
CISCO SYS INC	COM	17275R102	425	9,800	SH		SOLE		9,800	0	0
CITIGROUP INC	COM NEW	172967424	427	8,200	SH		SOLE		8,200	0	0
DELAWARE ENHANCED GBL DIV & COM	COM	246060107	110	12,654	SH		SOLE		12,654	0	0
EATON VANCE ENHANCED EQ INC	COM	278274105	361	27,890	SH		SOLE		27,890	0	0
EATON VANCE FLTING RATE INC	COM	278279104	8,058	631,575	SH		SOLE		631,575	0	0
EATON VANCE FLTNG RATE 2022	COM	27831H100	3,361	390,661	SH		SOLE		390,661	0	0
EATON VANCE LTD DUR INCOME	COM	27828H105	31,855	2,657,450	SH		SOLE		2,657,450	0	0
EATON VANCE MUN BD FD	COM	27827X101	7,732	684,895	SH		SOLE		684,895	0	0
EATON VANCE RISK MNGD DIV EQ	COM	27829G106	181	22,300	SH		SOLE		22,300	0	0
EATON VANCE SH DUR DIVR IN FD	COM	27828V104	18,518	1,487,351	SH		SOLE		1,487,351	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	102	10,000	SH		SOLE		10,000	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	255	29,216	SH		SOLE		29,216	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	2,053	68,394	SH		SOLE		68,394	0	0
EUROPEAN EQUITY FUND	COM	298768102	351	45,174	SH		SOLE		45,174	0	0
EXXON MOBIL CORP	COM	30231G102	293	4,290	SH		SOLE		4,290	0	0
FIRST TR ENERGY INCOME & GRW	COM	33738G104	1,532	81,816	SH		SOLE		81,816	0	0
FIRST TR MLP & ENERGY INCOME	COM	33739B104	5,563	567,627	SH		SOLE		567,627	0	0
FIRST TR SR FLG RTE INCM FD	COM	33733U108	16,327	1,457,759	SH		SOLE		1,457,759	0	0
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	2,396	290,063	SH		SOLE		290,063	0	0
GDL FUND	COM SH BEN IT	361570104	10,175	1,109,573	SH		SOLE		1,109,573	0	0
GENERAL AMERN INVS INC	COM	368802104	14,260	501,419	SH		SOLE		501,419	0	0
GENERAL MTRS CO	COM	37045V100	379	11,330	SH		SOLE		11,330	0	0
GENWORTH FINL INC	COM CL A	37247D106	103	22,100	SH		SOLE		22,100	0	0
GRANITE PT MTG TR INC	COM	38741L107	2,950	159,914	SH		SOLE		159,914	0	0
IHS MARKIT LTD	SHS	G47567105	502	10,459	SH		SOLE		10,459	0	0
INTEL CORP	COM	458140100	680	14,500	SH		SOLE		14,500	0	0
INVESCO EXCHANGE TRADED FD T	FTSE RAFI 1000	46137V613	21,670	213,346	SH		SOLE		213,346	0	0
ISHARES GOLD TRUST	ISHARES	464285105	227	18,437	SH		SOLE		18,437	0	0
ISHARES INC	MSCI JPN ETF NEW	46434G822	11,508	227,031	SH		SOLE		227,031	0	0
ISHARES TR	SHORT TREAS BD	464288679	8,692	78,803	SH		SOLE		78,803	0	0
ISHARES TR	HDG MSCI EAFE	46434V803	240	9,190	SH		SOLE		9,190	0	0
ISHARES TR	CORE MSCI EURO	46434V738	223	5,388	SH		SOLE		5,388	0	0
ISHARES TR	S&P 100 ETF	464287101	52,329	469,191	SH		SOLE		469,191	0	0
ISHARES TR	3-7 YR TREAS BD	464288661	33,622	276,953	SH		SOLE		276,953	0	0
ISHARES TR	US TREAS BD ETF	46429B267	25,613	1,039,061	SH		SOLE		1,039,061	0	0
ISHARES TR	1-3 YR TREAS BD	464287457	29,836	356,806	SH		SOLE		356,806	0	0
ISHARES TR	7-10 Y TR BD ETF	464287440	3,779	36,263	SH		SOLE		36,263	0	0
ISHARES TR	S&P 500 VAL ETF	464287408	1,942	19,202	SH		SOLE		19,202	0	0
ISHARES TR	S&P US PFD STK	464288687	672	19,641	SH		SOLE		19,641	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	1,101	8,408	SH		SOLE		8,408	0	0
ISHARES TR	MSCI EAFE ETF	464287465	1,124	19,125	SH		SOLE		19,125	0	0
ISHARES TR	CORE S&P500 ETF	464287200	2,402	9,534	SH		SOLE		9,534	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	749	13,610	SH		SOLE		13,610	0	0
ISHARES TR	MSCI EMG MKT ETF	464287234	210	5,370	SH		SOLE		5,370	0	0
JOHNSON & JOHNSON	COM	478160104	674	5,220	SH		SOLE		5,220	0	0
LADDER CAP CORP	CL A	505743104	3,938	245,520	SH		SOLE		245,520	0	0
LAZARD WORLD DIVID & INCOME	COM	521076109	458	53,770	SH		SOLE		53,770	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	7,459	1,346,397	SH		SOLE		1,346,397	0	0
LILLY ELI & CO	COM	532457108	289	2,500	SH		SOLE		2,500	0	0
LOEWS CORP	COM	540424108	826	18,140	SH		SOLE		18,140	0	0
MACQUARIE GLBL INFRA TOTL RE	COM	55608D101	411	21,861	SH		SOLE		21,861	0	0
MERCK & CO INC	COM	58933Y105	346	4,500	SH		SOLE		4,500	0	0
MFA FINL INC	COM	55272X102	1,576	235,882	SH		SOLE		235,882	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	13,735	1,873,767	SH		SOLE		1,873,767	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	12,403	2,762,250	SH		SOLE		2,762,250	0	0
MFS INTERMEDIATE INCM TRUST	SH BEN INT	55273C107	11,588	3,157,518	SH		SOLE		3,157,518	0	0
MICROSOFT CORP	COM	594918104	1,191	11,729	SH		SOLE		11,729	0	0
NEW GERMANY FD INC	COM	644465106	463	31,598	SH		SOLE		31,598	0	0
NUVEEN CA SELECT TAX FREE PR	SH BEN INT	67063R103	577	43,374	SH		SOLE		43,374	0	0
NUVEEN CALIF MUN VALUE FD	COM	67062C107	261	28,701	SH		SOLE		28,701	0	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	6,612	893,496	SH		SOLE		893,496	0	0
NUVEEN INT DUR QUAL MUN TRM	COM	670677103	4,624	374,424	SH		SOLE		374,424	0	0
NUVEEN MTG OPPORTUNITY TERM	COM	670735109	28,650	1,281,881	SH		SOLE		1,281,881	0	0
NUVEEN MTG OPPTY TERM FD 2	COM	67074R100	5,046	227,621	SH		SOLE		227,621	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	741	108,104	SH		SOLE		108,104	0	0
NUVEEN MUN 2021 TARGET TERM	COM	670687102	199	21,300	SH		SOLE		21,300	0	0
NUVEEN MUN VALUE FD INC	COM	670928100	20,398	2,200,384	SH		SOLE		2,200,384	0	0
NUVEEN NEW YORK MUN VALUE FD	COM	670706100	167	12,701	SH		SOLE		12,701	0	0
NUVEEN NY SELECT TAX FREE PR	SH BEN INT	67063V104	977	76,038	SH		SOLE		76,038	0	0
NUVEEN REAL ASSET INCM & GRW	COM	67074Y105	13,584	996,616	SH		SOLE		996,616	0	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	513	53,440	SH		SOLE		53,440	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67063X100	813	56,820	SH		SOLE		56,820	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67063C106	939	69,996	SH		SOLE		69,996	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67062F100	698	49,600	SH		SOLE		49,600	0	0
NUVEEN SR INCOME FD	COM	67067Y104	138	25,000	SH		SOLE		25,000	0	0
OAKTREE STRATEGIC INCOME COR	COM	67402D104	3,388	437,177	SH		SOLE		437,177	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	3,350	287,171	SH		SOLE		287,171	0	0
PENNANTPARK INVT CORP	COM	708062104	4,791	731,389	SH		SOLE		731,389	0	0
PFIZER INC	COM	717081103	271	6,200	SH		SOLE		6,200	0	0
PIONEER FLOATING RATE TR	COM	72369J102	13,833	1,405,797	SH		SOLE		1,405,797	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	466	41,000	SH		SOLE		41,000	0	0
RIVERNORTH DOUBLELINE STRATE	COM	76882G107	5,052	310,893	SH		SOLE		310,893	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	382	43,016	SH		SOLE		43,016	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	332	6,231	SH		SOLE		6,231	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	466	8,800	SH		SOLE		8,800	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	719	8,315	SH		SOLE		8,315	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	246	7,746	SH		SOLE		7,746	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	267	8,021	SH		SOLE		8,021	0	0
SPDR INDEX SHS FDS	S&P EM MKT DIV	78463X533	4,328	144,991	SH		SOLE		144,991	0	0
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	558	17,026	SH		SOLE		17,026	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	611	2,443	SH		SOLE		2,443	0	0
SPDR SER TR	PORTFOLIO SH TSR	78468R101	11,649	393,815	SH		SOLE		393,815	0	0
SPDR SER TR	SPDR BLOOMBERG	78468R663	232	2,534	SH		SOLE		2,534	0	0
SPDR SERIES TRUST	S&P BK ETF	78464A797	4,953	132,605	SH		SOLE		132,605	0	0
SPDR SERIES TRUST	PORTFOLIO AGRGTE	78464A649	692	24,840	SH		SOLE		24,840	0	0
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	1,108	12,382	SH		SOLE		12,382	0	0
SPDR SERIES TRUST	BLOOMBERG BRCLYS	78464A417	274	8,146	SH		SOLE		8,146	0	0
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	26,022	1,042,983	SH		SOLE		1,042,983	0	0
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	23,643	1,962,929	SH		SOLE		1,962,929	0	0
SWEDISH EXPT CR CORP	ROG TTL ETN 22	870297801	108	22,080	SH		SOLE		22,080	0	0
TCW STRATEGIC INCOME FUND IN	COM	872340104	29,420	5,418,972	SH		SOLE		5,418,972	0	0
TEMPLETON EMERG MKTS INCOME	COM	880192109	155	16,141	SH		SOLE		16,141	0	0
TEMPLETON EMERGING MKTS FD I	COM	880191101	14,314	1,084,417	SH		SOLE		1,084,417	0	0
TORTOISE PWR & ENERGY INFRAS	COM	89147X104	3,541	220,448	SH		SOLE		220,448	0	0
TRI-CONTINENTAL CORP	COM	895436103	28,496	1,211,576	SH		SOLE		1,211,576	0	0
TRUPANION INC	COM	898202106	617	24,243	SH		SOLE		24,243	0	0
UNION PAC CORP	COM	907818108	276	2,000	SH		SOLE		2,000	0	0
UNUM GROUP	COM	91529Y106	213	7,250	SH		SOLE		7,250	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	275	13,050	SH		SOLE		13,050	0	0
VANGUARD BD INDEX FD INC	SHORT TRM BOND	921937827	2,107	26,816	SH		SOLE		26,816	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	20,710	162,267	SH		SOLE		162,267	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	729	9,778	SH		SOLE		9,778	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	348	2,639	SH		SOLE		2,639	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	226	1,634	SH		SOLE		1,634	0	0
VANGUARD INDEX FDS VALUE	ETF	922908744	5,561	56,778	SH		SOLE		56,778	0	0
VANGUARD INTL EQUITY INDEX	FTSE EUROPE ETF	922042874	266	5,480	SH		SOLE		5,480	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	1,755	38,499	SH		SOLE		38,499	0	0
VANGUARD INTL EQUITY INDEX F	GLB EX US ETF	922042676	322	6,152	SH		SOLE		6,152	0	0
VANGUARD INTL EQUITY INDEX FD	FTSE EMR MKT ETF	922042858	843	22,116	SH		SOLE		22,116	0	0
VANGUARD MALVERN FDS	STRM INFPROIDX	922020805	448	9,344	SH		SOLE		9,344	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	13,804	82,741	SH		SOLE		82,741	0	0
VANGUARD WORLD FDS	UTILITIES ETF	92204A876	384	3,260	SH		SOLE		3,260	0	0
VANGUARD WORLD FDS HEALTH CAR	ETF	92204A504	4,059	25,277	SH		SOLE		25,277	0	0
VOYA PRIME RATE TR	SH BEN INT	92913A100	18,032	3,991,994	SH		SOLE		3,991,994	0	0
WAL-MART STORES INC	COM	931142103	375	4,000	SH		SOLE		4,000	0	0
WESTERN ASSET MUN DEF OPP TR	COM	95768A109	406	20,800	SH		SOLE		20,800	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	15,217	970,467	SH		SOLE		970,467	0	0
WISDOMTREE TR	INDIA ERNGS FD	97717W422	319	12,840	SH		SOLE		12,840	0	0
WISDOMTREE TR	US QTLY DIV GRT	97717X669	19,813	516,895	SH		SOLE		516,895	0	0
WISDOMTREE TR	FLOATNG RAT TREAS	97717X628	5,776	230,323	SH		SOLE		230,323	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	287	6,185	SH		SOLE		6,185	0	0