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
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
ABBOTT LABS	COM	002824100	208	2,485	SH		SOLE		2,485	0	0
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	6,205	891,475	SH		SOLE		891,475	0	0
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	617	63,906	SH		SOLE		63,906	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	251	34,539	SH		SOLE		34,539	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	5,830	699,049	SH		SOLE		699,049	0	0
AFFILIATED MANAGERS GROUP	COM	008252108	200	2,400	SH		SOLE		2,400	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	30,788	2,519,456	SH		SOLE		2,519,456	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	241	26,377	SH		SOLE		26,377	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	85	25,000	SH		SOLE		25,000	0	0
ARES CAP CORP	COM	04010L103	1,471	78,925	SH		SOLE		78,925	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	1,426	91,655	SH		SOLE		91,655	0	0
BAIN CAP SPECIALTY FIN INC	COM	05684B107	1,451	74,867	SH		SOLE		74,867	0	0
BANK AMER CORP	7.25% CNV PFD L	060505682	690	455	SH		SOLE		455	0	0
BANK AMER CORP	COM	060505104	535	18,329	SH		SOLE		18,329	0	0
BARINGS BDC INC	COM	06759L103	13,587	1,338,578	SH		SOLE		1,338,578	0	0
BLACKROCK CR ALLCTN INC TR	COM	092508100	15,401	1,130,796	SH		SOLE		1,130,796	0	0
BLACKROCK ENHANCED GOVT FUND	COM	09255K108	1,401	108,658	SH		SOLE		108,658	0	0
BLACKROCK FLOAT RATE OME STR	COM	09255X100	16,259	1,288,391	SH		SOLE		1,288,391	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	2,688	219,096	SH		SOLE		219,096	0	0
BLACKROCK LTD DURATION INC	COM SHS	09249W101	3,107	198,811	SH		SOLE		198,811	0	0
BLACKROCK MUNI INTER DR FD I	COM	09253X102	256	17,984	SH		SOLE		17,984	0	0
BLACKROCK MUNIHLDS INVSTM QL	COM	09254P108	2,293	168,944	SH		SOLE		168,944	0	0
BLACKROCK NY MUNI INC QLTY	COM	09249U105	420	30,479	SH		SOLE		30,479	0	0
CHEVRON CORP	NEW COM	166764100	661	5,575	SH		SOLE		5,575	0	0
CISCO SYS INC	COM	17275R102	484	9,800	SH		SOLE		9,800	0	0
CITIGROUP INC	COM NEW	172967424	587	8,500	SH		SOLE		8,500	0	0
EATON VANCE ENHANCED EQ INC	COM	278274105	422	27,890	SH		SOLE		27,890	0	0
EATON VANCE FLTING RATE INC	COM	278279104	9,312	704,424	SH		SOLE		704,424	0	0
EATON VANCE LTD DUR INCOME	COM	27828H105	36,926	2,954,043	SH		SOLE		2,954,043	0	0
EATON VANCE MUN BD FD	COM	27827X101	21,562	1,663,770	SH		SOLE		1,663,770	0	0
EATON VANCE SHORT DUR DIV IN	COM	27828V104	22,259	1,710,953	SH		SOLE		1,710,953	0	0
EATON VANCE TAX MNGD BUY WRI	COM SH BEN INT	27829M103	171	17,983	SH		SOLE		17,983	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	119	10,000	SH		SOLE		10,000	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	306	29,216	SH		SOLE		29,216	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	3,164	92,367	SH		SOLE		92,367	0	0
EUROPEAN EQUITY FUND	COM	298768102	320	35,902	SH		SOLE		35,902	0	0
EXXON MOBIL CORP	COM	30231G102	334	4,732	SH		SOLE		4,732	0	0
FIRST TR MLP & ENERGY INCOME	COM	33739B104	9,105	793,128	SH		SOLE		793,128	0	0
FIRST TR SR FLG RTE INCM FD	COM	33733U108	17,096	1,424,690	SH		SOLE		1,424,690	0	0
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	3,173	358,559	SH		SOLE		358,559	0	0
FOCUS FINL PARTNERS INC	COM CL A	34417P100	1,862	78,219	SH		SOLE		78,219	0	0
GDL FUND	COM SH BEN IT	361570104	11,618	1,264,232	SH		SOLE		1,264,232	0	0
GENERAL AMERN INVS INC	COM	368802104	8,358	229,930	SH		SOLE		229,930	0	0
GENERAL MTRS CO	COM	37045V100	425	11,330	SH		SOLE		11,330	0	0
GENWORTH FINL INC	COM CL A	37247D106	65	14,700	SH		SOLE		14,700	0	0
GRANITE PT MTG TR INC	COM	38741L107	2,549	136,021	SH		SOLE		136,021	0	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	279	4,586	SH		SOLE		4,586	0	0
IHS MARKIT LTD	SHS	G47567105	572	8,560	SH		SOLE		8,560	0	0
INTEL CORP	COM	458140100	773	15,000	SH		SOLE		15,000	0	0
INVESCO EXCHANGE TRADED FD T	FTSE RAFI 1000	46137V613	29,022	246,243	SH		SOLE		246,243	0	0
INVESCO SR INCOME TR	COM	46131H107	4,677	1,113,668	SH		SOLE		1,113,668	0	0
ISHARES GOLD TRUST	ISHARES	464285105	490	34,737	SH		SOLE		34,737	0	0
ISHARES INC	CORE MSCI EMKT	46434G103	6,644	135,538	SH		SOLE		135,538	0	0
ISHARES INC	MSCI JPN ETF NEW	46434G822	685	12,078	SH		SOLE		12,078	0	0
ISHARES TR	SHORT TREAS BD	464288679	5,437	49,150	SH		SOLE		49,150	0	0
ISHARES TR	HDG MSCI EAFE	46434V803	298	9,948	SH		SOLE		9,948	0	0
ISHARES TR	CORE MSCI EURO	46434V738	202	4,412	SH		SOLE		4,412	0	0
ISHARES TR	IBONDS DEC20 ETF	46434VAQ3	24,166	952,524	SH		SOLE		952,524	0	0
ISHARES TR	S&P 100 ETF	464287101	59,928	455,764	SH		SOLE		455,764	0	0
ISHARES TR	3-7 YR TR BD ETF	464288661	36,215	285,605	SH		SOLE		285,605	0	0
ISHARES TR	1-3 YR TR BD ETF	464287457	43,742	515,698	SH		SOLE		515,698	0	0
ISHARES TR	US TREAS BD ETF	46429B267	27,174	1,032,247	SH		SOLE		1,032,247	0	0
ISHARES TR	7-10 Y TR BD ETF	464287440	21,272	189,139	SH		SOLE		189,139	0	0
ISHARES TR	INTL QLTY FACTOR	46434V456	337	11,343	SH		SOLE		11,343	0	0
ISHARES TR	S&P 500 VAL ETF	464287408	2,343	19,665	SH		SOLE		19,665	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	623	5,457	SH		SOLE		5,457	0	0
ISHARES TR	S&P US PFD STK	464288687	709	18,896	SH		SOLE		18,896	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	1,044	6,538	SH		SOLE		6,538	0	0
ISHARES TR	MSCI EAFE ETF	464287465	1,154	17,702	SH		SOLE		17,702	0	0
ISHARES TR	CORE S&P500 ETF	464287200	2,294	7,685	SH		SOLE		7,685	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	723	11,835	SH		SOLE		11,835	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	216	1,202	SH		SOLE		1,202	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	275	2,147	SH		SOLE		2,147	0	0
JOHNSON & JOHNSON	COM	478160104	287	2,220	SH		SOLE		2,220	0	0
KELLOGG CO	COM	487836108	225	3,500	SH		SOLE		3,500	0	0
LADDER CAP CORP	CL A	505743104	2,371	134,654	SH		SOLE		134,654	0	0
LAZARD WORLD DIVID & INCOME	COM	521076109	242	25,936	SH		SOLE		25,936	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	3,149	492,039	SH		SOLE		492,039	0	0
LILLY ELI & CO	COM	532457108	257	2,300	SH		SOLE		2,300	0	0
LINCOLN NATL CORP IND	COM	534187109	271	4,500	SH		SOLE		4,500	0	0
LOEWS CORP	COM	540424108	944	18,340	SH		SOLE		18,340	0	0
MACQUARIE GLBL INFRA TOTL RE	COM	55608D101	437	18,139	SH		SOLE		18,139	0	0
MERCK & CO INC	COM	58933Y105	381	4,500	SH		SOLE		4,500	0	0
MFA FINL INC	COM	55272X102	2,060	279,952	SH		SOLE		279,952	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	8,038	967,220	SH		SOLE		967,220	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	10,891	2,362,448	SH		SOLE		2,362,448	0	0
MFS INTERMEDIATE INC TRUST	SH BEN INT	55273C107	12,492	3,270,112	SH		SOLE		3,270,112	0	0
MICROSOFT CORP	COM	594918104	1,533	11,029	SH		SOLE		11,029	0	0
MORGAN STANLEY	COM NEW	617446448	213	5,000	SH		SOLE		5,000	0	0
NEW GERMANY FD INC	COM	644465106	390	28,145	SH		SOLE		28,145	0	0
NUVEEN CA SELECT TAX FREE PR	SH BEN INT	67063R103	340	21,549	SH		SOLE		21,549	0	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	5,948	784,390	SH		SOLE		784,390	0	0
NUVEEN INT DUR QUAL MUN TRM	COM	670677103	8,779	640,720	SH		SOLE		640,720	0	0
NUVEEN MORT OPP TERM FD 2	COM	67074R100	4,445	192,744	SH		SOLE		192,744	0	0
NUVEEN MTG OPPORTUNITY TERM	COM	670735109	30,871	1,332,152	SH		SOLE		1,332,152	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	892	120,882	SH		SOLE		120,882	0	0
NUVEEN MUN 2021 TARGET TERM	COM	670687102	1,750	178,878	SH		SOLE		178,878	0	0
NUVEEN MUN VALUE FD INC	COM	670928100	19,972	1,894,744	SH		SOLE		1,894,744	0	0
NUVEEN NEW YORK MUN VALUE FD	COM	670706100	177	12,484	SH		SOLE		12,484	0	0
NUVEEN NY SELECT TAX FREE PR	SH BEN INT	67063V104	864	62,417	SH		SOLE		62,417	0	0
NUVEEN REAL ASSET INC & GROW	COM	67074Y105	17,939	1,018,332	SH		SOLE		1,018,332	0	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	539	51,685	SH		SOLE		51,685	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67063X100	999	62,125	SH		SOLE		62,125	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67063C106	1,266	84,274	SH		SOLE		84,274	0	0
NUVEEN SR INCOME FD	COM	67067Y104	145	25,000	SH		SOLE		25,000	0	0
OAKTREE STRATEGIC INCOME COR	COM	67402D104	4,991	605,001	SH		SOLE		605,001	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	3,791	324,156	SH		SOLE		324,156	0	0
PENNANTPARK INVT CORP	COM	708062104	243	37,600	SH		SOLE		37,600	0	0
PFIZER INC	COM	717081103	259	7,200	SH		SOLE		7,200	0	0
PIONEER FLOATING RATE TR	COM	72369J102	14,433	1,370,616	SH		SOLE		1,370,616	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	538	41,000	SH		SOLE		41,000	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	306	30,257	SH		SOLE		30,257	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	354	6,231	SH		SOLE		6,231	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	933	10,357	SH		SOLE		10,357	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	579	8,937	SH		SOLE		8,937	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	264	7,746	SH		SOLE		7,746	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	204	5,407	SH		SOLE		5,407	0	0
SPDR INDEX SHS FDS	S&P EM MKT DIV	78463X533	4,324	144,909	SH		SOLE		144,909	0	0
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	584	17,026	SH		SOLE		17,026	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	515	1,736	SH		SOLE		1,736	0	0
SPDR SERIES TRUST	PORTFOLIO SH TSR	78468R101	12,014	400,209	SH		SOLE		400,209	0	0
SPDR SERIES TRUST	PORTFOLIO AGRGTE	78464A649	736	24,840	SH		SOLE		24,840	0	0
SPDR SERIES TRUST	BLOMBRG BRC TIPS	78464A656	237	8,319	SH		SOLE		8,319	0	0
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	1,180	11,502	SH		SOLE		11,502	0	0
SPDR SERIES TRUST	BLOOMBERG BRCLYS	78468R622	295	2,714	SH		SOLE		2,714	0	0
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	25,809	1,022,132	SH		SOLE		1,022,132	0	0
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	28,920	2,030,880	SH		SOLE		2,030,880	0	0
SWEDISH EXPT CR CORP	ROG TTL ETN 22	870297801	112	22,080	SH		SOLE		22,080	0	0
TCW STRATEGIC INCOME FUND IN	COM	872340104	11,882	2,061,465	SH		SOLE		2,061,465	0	0
TEMPLETON EMERGING MKTS FD I	COM	880191101	11,154	760,838	SH		SOLE		760,838	0	0
TORTOISE PWR & ENERGY INFRAS	COM	89147X104	4,141	229,918	SH		SOLE		229,918	0	0
TPG RE FIN TR INC	COM	87266M107	2,738	138,028	SH		SOLE		138,028	0	0
TRI-CONTINENTAL CORP	COM	895436103	18,995	697,047	SH		SOLE		697,047	0	0
TRUPANION INC	COM	898202106	616	24,243	SH		SOLE		24,243	0	0
TUESDAY MORNING CORP	COM NEW	899035505	42	27,000	SH		SOLE		27,000	0	0
UBS AG JERSEY BRH	ALERIAN INFRST	902641646	292	14,000	SH		SOLE		14,000	0	0
UNION PAC CORP	COM	907818108	324	2,000	SH		SOLE		2,000	0	0
UNUM GROUP	COM	91529Y106	223	7,500	SH		SOLE		7,500	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	377	14,100	SH		SOLE		14,100	0	0
VANGUARD BD INDEX FD INC	SHORT TRM BOND	921937827	2,148	26,590	SH		SOLE		26,590	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	30,469	201,780	SH		SOLE		201,780	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	723	7,755	SH		SOLE		7,755	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	410	2,663	SH		SOLE		2,663	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	281	1,674	SH		SOLE		1,674	0	0
VANGUARD INDEX FDS	VALUE ETF	922908744	18,997	170,195	SH		SOLE		170,195	0	0
VANGUARD INTL EQUITY INDEX FD	ALLWRLD EX US	922042775	11,531	231,080	SH		SOLE		231,080	0	0
VANGUARD INTL EQUITY INDEX FD	GLB EX US ETF	922042676	360	6,152	SH		SOLE		6,152	0	0
VANGUARD INTL EQUITY INDEX FD	FTSE EMR MKT ETF	922042858	902	22,416	SH		SOLE		22,416	0	0
VANGUARD MUN BD FD INC	TAX EXEMPT BD	922907746	536	10,003	SH		SOLE		10,003	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	17,469	80,733	SH		SOLE		80,733	0	0
VANGUARD WORLD FDS	UTILITIES ETF	92204A876	313	2,165	SH		SOLE		2,165	0	0
VANGUARD WORLD FDS	HEALTH CAR ETF	92204A504	4,310	25,610	SH		SOLE		25,610	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	273	4,524	SH		SOLE		4,524	0	0
VOYA PRIME RATE TR	SH BEN INT	92913A100	18,214	3,867,000	SH		SOLE		3,867,000	0	0
WAL-MART STORES INC	COM	931142103	237	2,000	SH		SOLE		2,000	0	0
WELLS FARGO CO NEW	PERP PFD CNV A	949746804	4,290	2,818	SH		SOLE		2,818	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	22,231	1,361,563	SH		SOLE		1,361,563	0	0
WILLIAMS COS INC DEL	COM	969457100	375	15,600	SH		SOLE		15,600	0	0
WISDOMTREE TR	INDIA ERNGS FD	97717W422	306	12,840	SH		SOLE		12,840	0	0
WISDOMTREE TR	US QTLY DIV GRT	97717X669	31,431	697,081	SH		SOLE		697,081	0	0
WISDOMTREE TR	BLMBRG FL TRFD	97717X628	5,433	216,885	SH		SOLE		216,885	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	238	4,725	SH		SOLE		4,725	0	0
ZOETIS INC	CL A	98978V103	201	1,614	SH		SOLE		1,614	0	0