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	244	2,812	SH		SOLE		2,812	0	0
ABBVIE INC	COM	00287Y109	212	2,399	SH		SOLE		2,399	0	0
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	7,505	979,203	SH		SOLE		979,203	0	0
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	668	63,796	SH		SOLE		63,796	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	278	34,539	SH		SOLE		34,539	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	6,904	766,532	SH		SOLE		766,532	0	0
AFFILIATED MANAGERS GROUP	COM	008252108	207	2,445	SH		SOLE		2,445	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	34,586	2,615,321	SH		SOLE		2,615,321	0	0
ALPS ETF TR	ALERIAN MLP	00162Q866	262	30,867	SH		SOLE		30,867	0	0
ANWORTH MORTGAGE ASSET CP	COM	037347101	2,957	819,158	SH		SOLE		819,158	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	1,450	89,702	SH		SOLE		89,702	0	0
BAIN CAP SPECIALTY FIN INC	COM	05684B107	1,804	91,298	SH		SOLE		91,298	0	0
BANK AMER CORP	7.25%CNV PFD L	060505682	652	450	SH		SOLE		450	0	0
BANK AMER CORP	COM	060505104	726	20,627	SH		SOLE		20,627	0	0
BARINGS BDC INC	COM	06759L103	14,377	1,398,569	SH		SOLE		1,398,569	0	0
BLACKROCK CR ALLCTN INC TR	COM	092508100	15,138	1,076,376	SH		SOLE		1,076,376	0	0
BLACKROCK ENHANCED GOVT FD	COM	09255K108	1,546	117,238	SH		SOLE		117,238	0	0
BLACKROCK FLOAT RATE OME STR	COM	09255X100	18,563	1,373,135	SH		SOLE		1,373,135	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	2,841	219,420	SH		SOLE		219,420	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	2,886	217,124	SH		SOLE		217,124	0	0
BLACKROCK NY MUNI INC QLTY	COM	09249U105	419	30,479	SH		SOLE		30,479	0	0
BRT APARTMENTS CORP	COM3	055645303	470	27,358	SH		SOLE		27,358	0	0
CHEVRON CORP	NEW COM	166764100	700	5,812	SH		SOLE		5,812	0	0
CISCO SYS INC	COM	17275R102	456	9,500	SH		SOLE		9,500	0	0
CITIGROUP INC	COM NEW	172967424	679	8,500	SH		SOLE		8,500	0	0
COLONY CR REAL ESTATE INC	COM CL A	19625T101	1,111	83,858	SH		SOLE		83,858	0	0
EATON VANCE ENHANCED EQ INC	COM	278274105	443	27,890	SH		SOLE		27,890	0	0
EATON VANCE FLTING RATE INC	COM	278279104	10,012	721,151	SH		SOLE		721,151	0	0
EATON VANCE LTD DUR INCOME	COM	27828H105	42,637	3,217,913	SH		SOLE		3,217,913	0	0
EATON VANCE MUN BD FD	COM	27827X101	19,227	1,492,778	SH		SOLE		1,492,778	0	0
EATON VANCE SHORT DUR DIV IN	COM	27828V104	24,098	1,774,630	SH		SOLE		1,774,630	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	125	10,000	SH		SOLE		10,000	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	344	29,216	SH		SOLE		29,216	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	3,394	103,378	SH		SOLE		103,378	0	0
EUROPEAN EQUITY FUND	COM	298768102	337	35,902	SH		SOLE		35,902	0	0
EXXON MOBIL CORP	COM	30231G102	403	5,782	SH		SOLE		5,782	0	0
FIRST TR MLP & ENERGY INCOME	COM	33739B104	8,349	699,245	SH		SOLE		699,245	0	0
FIRST TR SR FLG RTE INCM FD	COM	33733U108	18,303	1,458,424	SH		SOLE		1,458,424	0	0
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	3,433	372,476	SH		SOLE		372,476	0	0
FOCUS FINL PARTNERS INC	COM CL A	34417P100	2,305	78,219	SH		SOLE		78,219	0	0
FS KKR CAPITAL CORP	COM	302635107	1,953	309,189	SH		SOLE		309,189	0	0
GDL FUND	COM SH BEN IT	361570104	12,104	1,301,479	SH		SOLE		1,301,479	0	0
GENERAL AMERN INVS INC	COM	368802104	4,441	117,284	SH		SOLE		117,284	0	0
GENERAL MTRS CO	COM	37045V100	415	11,330	SH		SOLE		11,330	0	0
GENWORTH FINL INC	COM CL A	37247D106	60	13,700	SH		SOLE		13,700	0	0
GRANITE PT MTG TR INC	COM	38741L107	2,758	146,685	SH		SOLE		146,685	0	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	280	4,586	SH		SOLE		4,586	0	0
IHS MARKIT LTD	SHS	G47567105	645	8,560	SH		SOLE		8,560	0	0
INTEL CORP	COM	458140100	898	15,000	SH		SOLE		15,000	0	0
INVESCO EXCHANGE TRADED FD T	FTSE RAFI 1000	46137V613	30,815	243,189	SH		SOLE		243,189	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	358	1,683	SH		SOLE		1,683	0	0
INVESCO SR INCOME TR	COM	46131H107	4,118	959,850	SH		SOLE		959,850	0	0
ISHARES GOLD TRUST	ISHARES	464285105	569	39,237	SH		SOLE		39,237	0	0
ISHARES INC	CORE MSCI EMKT	46434G103	7,582	141,043	SH		SOLE		141,043	0	0
ISHARES INC	MSCI JPN ETF NEW	46434G822	720	12,151	SH		SOLE		12,151	0	0
ISHARES TR	SHORT TREAS BD	464288679	3,644	32,989	SH		SOLE		32,989	0	0
ISHARES TR	HDG MSCI EAFE	46434V803	308	10,098	SH		SOLE		10,098	0	0
ISHARES TR	CORE MSCI EURO	46434V738	222	4,444	SH		SOLE		4,444	0	0
ISHARES TR	IBONDS DEC20 ETF	46434VAQ3	25,286	999,428	SH		SOLE		999,428	0	0
ISHARES TR	S&P 100 ETF	464287101	64,260	445,969	SH		SOLE		445,969	0	0
ISHARES TR	3-7 YR TR BD ETF	464288661	41,217	327,768	SH		SOLE		327,768	0	0
ISHARES TR	IBONDS DEC21 ETF	46434VBK5	4,819	193,088	SH		SOLE		193,088	0	0
ISHARES TR	1-3 YR TR BD ETF	464287457	55,958	661,205	SH		SOLE		661,205	0	0
ISHARES TR	7-10 Y TR BD ETF	464287440	47,636	432,190	SH		SOLE		432,190	0	0
ISHARES TR	US TREAS BD ETF	46429B267	28,998	1,117,893	SH		SOLE		1,117,893	0	0
ISHARES TR	INTL QLTY FACTOR	46434V456	369	11,419	SH		SOLE		11,419	0	0
ISHARES TR	S&P 500 VAL ETF	464287408	2,549	19,597	SH		SOLE		19,597	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	1,235	10,846	SH		SOLE		10,846	0	0
ISHARES TR	S&P US PFD STK	464288687	710	18,896	SH		SOLE		18,896	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	1,475	8,385	SH		SOLE		8,385	0	0
ISHARES TR	MSCI EAFE ETF	464287465	1,230	17,711	SH		SOLE		17,711	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	707	5,179	SH		SOLE		5,179	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	1,047	16,047	SH		SOLE		16,047	0	0
ISHARES TR	CORE S&P500 ETF	464287200	2,679	8,289	SH		SOLE		8,289	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	486	2,932	SH		SOLE		2,932	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	229	1,185	SH		SOLE		1,185	0	0
ISHARES TR	CORE S&P MCP ETF	464287507	201	976	SH		SOLE		976	0	0
JOHNSON & JOHNSON	COM	478160104	324	2,220	SH		SOLE		2,220	0	0
KELLOGG CO	COM	487836108	242	3,500	SH		SOLE		3,500	0	0
LADDER CAP CORP	CL A	505743104	2,516	136,904	SH		SOLE		136,904	0	0
LAZARD GLB TTL RET&INCM FD I	COM	52106W103	269	16,278	SH		SOLE		16,278	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	934	134,246	SH		SOLE		134,246	0	0
LILLY ELI & CO	COM	532457108	318	2,417	SH		SOLE		2,417	0	0
LINCOLN NATL CORP IND	COM	534187109	290	4,910	SH		SOLE		4,910	0	0
LOEWS CORP	COM	540424108	973	18,541	SH		SOLE		18,541	0	0
MACQUARIE GLBL INFRA TOTL RE	COM	55608D101	454	18,299	SH		SOLE		18,299	0	0
MERCK & CO INC	COM	58933Y105	412	4,500	SH		SOLE		4,500	0	0
MFA FINL INC	COM	55272X102	2,334	305,124	SH		SOLE		305,124	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	4,971	590,401	SH		SOLE		590,401	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	7,991	1,740,874	SH		SOLE		1,740,874	0	0
MFS INTERMEDIATE INC TRUST	SH BEN INT	55273C107	12,648	3,328,316	SH		SOLE		3,328,316	0	0
MICROSOFT CORP	COM	594918104	1,739	11,029	SH		SOLE		11,029	0	0
NEW GERMANY FD INC	COM	644465106	420	26,784	SH		SOLE		26,784	0	0
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	6,601	860,575	SH		SOLE		860,575	0	0
NUVEEN INT DUR QUAL MUN TRM	COM	670677103	9,611	692,469	SH		SOLE		692,469	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	904	122,199	SH		SOLE		122,199	0	0
NUVEEN MUN 2021 TARGET TERM	COM	670687102	1,743	178,211	SH		SOLE		178,211	0	0
NUVEEN NEW YORK MUN VALUE FD	COM	670706100	178	12,484	SH		SOLE		12,484	0	0
NUVEEN NY SELECT TAX FREE PR	SH BEN INT	67063V104	809	57,149	SH		SOLE		57,149	0	0
NUVEEN REAL ASSET INC & GROW	COM	67074Y105	15,124	823,748	SH		SOLE		823,748	0	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	537	51,235	SH		SOLE		51,235	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67063X100	972	59,616	SH		SOLE		59,616	0	0
NUVEEN SELECT TAX FREE INCM	SH BEN INT	67063C106	1,222	80,119	SH		SOLE		80,119	0	0
NUVEEN SR INCOME FD	COM	67067Y104	149	25,000	SH		SOLE		25,000	0	0
OAKTREE STRATEGIC INCOME COR	COM	67402D104	5,209	636,025	SH		SOLE		636,025	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	1,631	132,890	SH		SOLE		132,890	0	0
PENNANTPARK INVT CORP	COM	708062104	201	30,000	SH		SOLE		30,000	0	0
PFIZER INC	COM	717081103	282	7,200	SH		SOLE		7,200	0	0
PIONEER FLOATING RATE TR	COM	72369J102	14,955	1,355,537	SH		SOLE		1,355,537	0	0
PUTNAM MUN OPPORTUNITIES TR	SH BEN INT	746922103	541	41,000	SH		SOLE		41,000	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	355	30,334	SH		SOLE		30,334	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	353	6,231	SH		SOLE		6,231	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	578	8,937	SH		SOLE		8,937	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	437	4,265	SH		SOLE		4,265	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	288	7,746	SH		SOLE		7,746	0	0
SPDR INDEX	SHS FDS EURO STOXX 50	78463X202	215	5,262	SH		SOLE		5,262	0	0
SPDR INDEX SHS FDS	S&P EM MKT DIV	78463X533	4,867	151,607	SH		SOLE		151,607	0	0
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	640	17,026	SH		SOLE		17,026	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	462	1,436	SH		SOLE		1,436	0	0
SPDR SER TR	PORTFOLIO SH TSR	78468R101	17,925	598,313	SH		SOLE		598,313	0	0
SPDR SERIES TRUST	PORTFOLIO AGRGTE	78464A649	730	24,840	SH		SOLE		24,840	0	0
SPDR SERIES TRUST	BLOMBRG BRC TIPS	78464A656	236	8,277	SH		SOLE		8,277	0	0
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	1,183	11,002	SH		SOLE		11,002	0	0
SPDR SERIES TRUST	BLOOMBERG BRCLYS ADDED	78468R622	297	2,714	SH		SOLE		2,714	0	0
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	25,581	1,000,841	SH		SOLE		1,000,841	0	0
SPECIAL OPPORTUNITIES FUND INC	COM	84741T104	29,992	2,029,976	SH		SOLE		2,029,976	0	0
SWEDISH EXPT CR CORP	ROG TTL ETN 22	870297801	119	22,080	SH		SOLE		22,080	0	0
TCW STRATEGIC INCOME FUND IN	COM	872340104	2,000	338,103	SH		SOLE		338,103	0	0
TEMPLETON EMERGING MKTS FD	COM	880191101	12,117	773,876	SH		SOLE		773,876	0	0
TORTOISE PWR & ENERGY INFRAS	COM	89147X104	5,756	339,371	SH		SOLE		339,371	0	0
TPG RE FIN TR INC	COM	87266M107	2,877	138,964	SH		SOLE		138,964	0	0
TRI-CONTINENTAL CORP	COM	895436103	15,689	555,679	SH		SOLE		555,679	0	0
TRUPANION INC	COM	898202106	908	24,243	SH		SOLE		24,243	0	0
TUESDAY MORNING CORP	COM NEW	899035505	28	15,000	SH		SOLE		15,000	0	0
UNION PAC CORP	COM	907818108	362	2,000	SH		SOLE		2,000	0	0
UNUM GROUP	COM	91529Y106	219	7,500	SH		SOLE		7,500	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	413	14,100	SH		SOLE		14,100	0	0
VANGUARD BD INDEX FD INC	SHORT TRM BOND	921937827	2,539	31,494	SH		SOLE		31,494	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	32,807	200,510	SH		SOLE		200,510	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	738	7,957	SH		SOLE		7,957	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	250	1,821	SH		SOLE		1,821	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	443	2,677	SH		SOLE		2,677	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	293	1,644	SH		SOLE		1,644	0	0
VANGUARD INDEX FDS VALUE	ETF	922908744	29,859	249,134	SH		SOLE		249,134	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	12,506	232,675	SH		SOLE		232,675	0	0
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	1,163	14,354	SH		SOLE		14,354	0	0
VANGUARD INTL EQUITY INDEX F	GLB EX US ETF	922042676	374	6,334	SH		SOLE		6,334	0	0
VANGUARD INTL EQUITY INDEX FD	FTSE EMR MKT ETF	922042858	1,077	24,220	SH		SOLE		24,220	0	0
VANGUARD MUN BD FD INC	TAX EXEMPT BD	922907746	1,030	19,234	SH		SOLE		19,234	0	0
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	11,105	252,039	SH		SOLE		252,039	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	18,588	75,918	SH		SOLE		75,918	0	0
VANGUARD WORLD FDS	UTILITIES ETF	92204A876	309	2,165	SH		SOLE		2,165	0	0
VANGUARD WORLD FDS HEALTH CAR	ETF	92204A504	2,580	13,454	SH		SOLE		13,454	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	278	4,524	SH		SOLE		4,524	0	0
VERTICAL CAP INCOME FUND	SHS BEN INT	92535C104	3,631	348,786	SH		SOLE		348,786	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	3,488	560,096	SH		SOLE		560,096	0	0
VOYA PRIME RATE TR	SH BEN INT	92913A100	19,951	3,963,877	SH		SOLE		3,963,877	0	0
WAL-MART STORES INC	COM	931142103	239	2,000	SH		SOLE		2,000	0	0
WELLS FARGO CO NEW	PERP PFD CNV A	949746804	4,412	3,043	SH		SOLE		3,043	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	24,421	1,461,453	SH		SOLE		1,461,453	0	0
WILLIAMS COS INC DEL	COM	969457100	477	20,100	SH		SOLE		20,100	0	0
WISDOMTREE TR	INDIA ERNGS FD	97717W422	320	12,840	SH		SOLE		12,840	0	0
WISDOMTREE TR	US QTLY DIV GRT	97717X669	34,229	705,955	SH		SOLE		705,955	0	0
WISDOMTREE TR	US LARGECAP FUND	97717W588	1,374	37,449	SH		SOLE		37,449	0	0
WISDOMTREE TR	BLMBRG FL TRFD	97717X628	5,060	201,915	SH		SOLE		201,915	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	256	4,760	SH		SOLE		4,760	0	0
ZOETIS INC	CL A	98978V103	214	1,614	SH		SOLE		1,614	0	0