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
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
ABBOTT LABS	COM	002824100	562	6,147	SH		SOLE		6,147	0	0
ABBVIE INC	COM	00287Y109	595	6,065	SH		SOLE		6,065	0	0
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	5,538	915,305	SH		SOLE		915,305	0	0
ABERDEEN GLOBAL DYNAMIC DIVID	COM	00302M106	396	44,377	SH		SOLE		44,377	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	174	22,413	SH		SOLE		22,413	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	2,922	379,522	SH		SOLE		379,522	0	0
ACCEL ENTERTAINMENT INC	COM CL A1	00436Q106	1,309	135,952	SH		SOLE		135,952	0	0
AGNC INVT CORP	COM	00123Q104	1,800	138,268	SH		SOLE		138,268	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	26,615	2,380,571	SH		SOLE		2,380,571	0	0
ANWORTH MTG ASSET CORP	COM	037347101	47	27,000	SH		SOLE		27,000	0	0
APPLE INC	COM	037833100	606	1,661	SH		SOLE		1,661	0	0
ARES CAPITAL CORP	COM	04010L103	4,121	285,194	SH		SOLE		285,194	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	1,653	174,947	SH		SOLE		174,947	0	0
AUTOMATIC DATA PROCESSING INC	COM	053015103	551	3,678	SH		SOLE		3,678	0	0
BARCLAYS BANK PLC	IPATH SELCT MLP	06742C723	251	23,171	SH		SOLE		23,171	0	0
BARINGS BDC INC	COM	06759L103	10,418	1,312,144	SH		SOLE		1,312,144	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	300	1,680	SH		SOLE		1,680	0	0
BK OF AMERICA CORP	7.25%CNV PFD L	060505682	581	427	SH		SOLE		427	0	0
BK OF AMERICA CORP	COM	060505104	490	20,627	SH		SOLE		20,627	0	0
BLACKROCK ENHANCED GOVT FUND	COM	09255K108	1,153	88,497	SH		SOLE		88,497	0	0
BLACKROCK FLOAT RATE INCM	COM	09255X100	16,620	1,486,569	SH		SOLE		1,486,569	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	1,360	123,887	SH		SOLE		123,887	0	0
BLACKROCK LTD DURATION INC	COM SHS	09249W101	614	44,078	SH		SOLE		44,078	0	0
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	387	16,265	SH		SOLE		16,265	0	0
BLACKROCK MUNI INTER DR FD INC	COM	09253X102	244	17,614	SH		SOLE		17,614	0	0
BLACKROCK MUNIHLDS INVSTM QL	COM	09254P108	2,627	202,477	SH		SOLE		202,477	0	0
BLACKROCK NY MUNI INC QLTY TR	COM	09249U105	397	29,942	SH		SOLE		29,942	0	0
BRT APARTMENTS CORP	COM	055645303	818	74,289	SH		SOLE		74,289	0	0
CHEVRON CORP NEW	COM	166764100	565	6,337	SH		SOLE		6,337	0	0
CISCO SYS INC	COM	17275R102	443	9,500	SH		SOLE		9,500	0	0
CITIGROUP INC	COM	172967424	431	8,440	SH		SOLE		8,440	0	0
COLONY CR REAL ESTATE INC	COM CL A	19625T101	1,939	276,201	SH		SOLE		276,201	0	0
EATON VANCE ENHANCED EQTY INCM	COM	278274105	395	27,890	SH		SOLE		27,890	0	0
EATON VANCE FLTING RATE INC	COM	278279104	5,528	484,894	SH		SOLE		484,894	0	0
EATON VANCE LTD DUR INCOME	COM	27828H105	34,350	3,047,951	SH		SOLE		3,047,951	0	0
EATON VANCE MUN BD FD	COM	27827X101	21,126	1,660,843	SH		SOLE		1,660,843	0	0
EATON VANCE SHORT DUR DIV IN	COM	27828V104	17,115	1,507,889	SH		SOLE		1,507,889	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	247	33,469	SH		SOLE		33,469	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	108	10,000	SH		SOLE		10,000	0	0
ELLSWORTH FD	COM	289074106	336	29,216	SH		SOLE		29,216	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	941	15,897	SH		SOLE		15,897	0	0
EUROPEAN EQUITY FD INC	COM	298768102	227	27,228	SH		SOLE		27,228	0	0
EXXON MOBIL CORP	COM	30231G102	246	5,509	SH		SOLE		5,509	0	0
FIRST TR SR FLG RTE INCM FD	COM	33733U108	13,960	1,281,902	SH		SOLE		1,281,902	0	0
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	2,249	272,285	SH		SOLE		272,285	0	0
FOCUS FINL PARTNERS INC	COM CL A	34417P100	2,549	77,119	SH		SOLE		77,119	0	0
GDL FUND	COM SH BEN IT	361570104	7,698	935,410	SH		SOLE		935,410	0	0
GENERAL AMERN INVS INC	COM	368802104	580	17,823	SH		SOLE		17,823	0	0
GENERAL MOTORS CORP	COM	37045V100	277	10,930	SH		SOLE		10,930	0	0
GENWORTH FINL INC	COM CL A	37247D106	28	12,000	SH		SOLE		12,000	0	0
GOLUB CAP BDC INC	COM	38173M102	2,525	216,721	SH		SOLE		216,721	0	0
GRANITE PT MTG TR INC	COM	38741L107	1,958	272,749	SH		SOLE		272,749	0	0
IHS MARKIT LTD	SHS	G47567105	646	8,560	SH		SOLE		8,560	0	0
INTEL CORP	COM	458140100	1,059	17,700	SH		SOLE		17,700	0	0
INVESCO EXCHANGE TRADED FD	FTSE RAFI 1000	46137V613	26,395	243,698	SH		SOLE		243,698	0	0
INVESCO SR INCOME TR	COM	46131H107	105	30,350	SH		SOLE		30,350	0	0
ISHARES GOLD TRUST	ISHARES	464285105	1,670	98,302	SH		SOLE		98,302	0	0
ISHARES MSCI JAPAN ETF	MSCI JPN ETF NEW	46434G822	444	8,093	SH		SOLE		8,093	0	0
ISHARES TR	IBONDS DEC21 ETF	46434VBK5	6,039	240,113	SH		SOLE		240,113	0	0
ISHARES TR	US TREAS BD ETF	46429B267	38,496	1,375,338	SH		SOLE		1,375,338	0	0
ISHARES TR	3-7 YR TREAS BD	464288661	27,956	209,139	SH		SOLE		209,139	0	0
ISHARES TR	1-3 YR TREAS BD	464287457	27,725	320,109	SH		SOLE		320,109	0	0
ISHARES TR	USA QUALITY FCTR	46432F339	20,245	211,064	SH		SOLE		211,064	0	0
ISHARES TR	BARCLAYS 7-10 YR	464287440	23,130	189,789	SH		SOLE		189,789	0	0
ISHARES TR	S&P 500 VAL ETF	464287408	15,098	139,528	SH		SOLE		139,528	0	0
ISHARES TR	INTL QLTY FACTOR	46434V456	229	7,773	SH		SOLE		7,773	0	0
ISHARES TR	SP SMCP600VL ETF	464287879	593	4,929	SH		SOLE		4,929	0	0
ISHARES TR	EDGE MSCI USA VL	46432F388	374	5,177	SH		SOLE		5,177	0	0
ISHARES TR	SHORT TREAS BD	464288679	1,400	12,642	SH		SOLE		12,642	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	1,453	12,900	SH		SOLE		12,900	0	0
ISHARES TR	CORE MSCI EMKT	46434G103	1,994	41,897	SH		SOLE		41,897	0	0
ISHARES TR	PFD AND INCM SEC	464288687	606	17,486	SH		SOLE		17,486	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	656	5,685	SH		SOLE		5,685	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	2,204	38,551	SH		SOLE		38,551	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	1,595	8,310	SH		SOLE		8,310	0	0
ISHARES TR	MSCI EAFE ETF	464287465	799	13,118	SH		SOLE		13,118	0	0
ISHARES TR	S&P 500 INDEX	464287200	3,317	10,712	SH		SOLE		10,712	0	0
ISHARES TR	S&P MIDCAP FUND	464287507	628	3,529	SH		SOLE		3,529	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	286	1,995	SH		SOLE		1,995	0	0
ISHARES TR	S&P 100 ETF	464287101	62,337	437,696	SH		SOLE		437,696	0	0
ISHARES TR	IBONDS DEC20 ETF	46434VAQ3	8,657	341,759	SH		SOLE		341,759	0	0
J P MORGAN EXCHANGE-TRADED	ULTRA SHT MUNCPL	46641Q654	255	5,000	SH		SOLE		5,000	0	0
JOHNSON & JOHNSON	COM	478160104	397	2,825	SH		SOLE		2,825	0	0
KELLOGG CO	COM	487836108	231	3,500	SH		SOLE		3,500	0	0
LADDER CAP CORP	CL A	505743104	2,496	300,817	SH		SOLE		300,817	0	0
LAZARD GLBL TOTAL RETURN	COM	52106W103	183	12,985	SH		SOLE		12,985	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	301	52,644	SH		SOLE		52,644	0	0
LILLY ELI & CO	COM	532457108	397	2,417	SH		SOLE		2,417	0	0
LOEWS CORP	COM	540424108	636	18,541	SH		SOLE		18,541	0	0
MACQUARIE GLOBAL INFRASTRUCT	COM	55608D101	214	12,149	SH		SOLE		12,149	0	0
MERCK & CO INC	COM	58933Y105	390	5,000	SH		SOLE		5,000	0	0
MFA FINL INC	COM	55272X102	75	30,000	SH		SOLE		30,000	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	5,658	1,230,047	SH		SOLE		1,230,047	0	0
MFS INTER INCOME TR	SH BEN INT	55273C107	11,758	3,177,813	SH		SOLE		3,177,813	0	0
MICROSOFT CORP	COM	594918104	1,990	9,778	SH		SOLE		9,778	0	0
NEW GERMANY FUND	COM	644465106	319	21,046	SH		SOLE		21,046	0	0
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	2,401	405,471	SH		SOLE		405,471	0	0
NUVEEN INT DUR QUAL MUN TRM	COM	670677103	9,130	640,947	SH		SOLE		640,947	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	842	121,563	SH		SOLE		121,563	0	0
NUVEEN MUN 2021 TARGET TERM	COM	670687102	2,701	273,070	SH		SOLE		273,070	0	0
NUVEEN MUN VALUE FD INC	COM	670928100	558	54,575	SH		SOLE		54,575	0	0
NUVEEN NEW YORK MUN VALUE FD	COM	670706100	150	10,956	SH		SOLE		10,956	0	0
NUVEEN NY SELECT TAX FREE PR	SH BEN INT	67063V104	776	60,274	SH		SOLE		60,274	0	0
NUVEEN REAL ASSET INC & GROW	COM	67074Y105	8,518	723,388	SH		SOLE		723,388	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	755	67,307	SH		SOLE		67,307	0	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	552	53,834	SH		SOLE		53,834	0	0
NUVEEN SELECT TAX FREE INCOME	SH BEN INT	67063X100	787	48,467	SH		SOLE		48,467	0	0
NUVEEN SELECT TAX FREE INCOME	SH BEN INT	67063C106	470	31,259	SH		SOLE		31,259	0	0
NUVEEN SR INCOME FD	COM	67067Y104	118	25,000	SH		SOLE		25,000	0	0
OAKTREE STRATEGIC INCOME COR	COM	67402D104	4,027	635,185	SH		SOLE		635,185	0	0
PAYCHEX INC	COM	704326107	303	4,000	SH		SOLE		4,000	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	1,817	213,953	SH		SOLE		213,953	0	0
PENNANTPARK INVT CORP	COM	708062104	109	30,000	SH		SOLE		30,000	0	0
PFIZER INC COM	COM	717081103	235	7,200	SH		SOLE		7,200	0	0
PHILLIPS 66	COM	718546104	264	3,674	SH		SOLE		3,674	0	0
PIONEER FLOATING RATE TR	COM	72369J102	6,891	703,575	SH		SOLE		703,575	0	0
PROCTER AND GAMBLE CO	COM	742718109	211	1,761	SH		SOLE		1,761	0	0
PUTNAM MUNI OPPORTUNITIES TR	SH BEN INT	746922103	526	41,000	SH		SOLE		41,000	0	0
REAVES UTIL INCOME FD	COM SH BEN INT	756158101	221	7,311	SH		SOLE		7,311	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	281	24,269	SH		SOLE		24,269	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	374	6,231	SH		SOLE		6,231	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	516	9,137	SH		SOLE		9,137	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	215	7,746	SH		SOLE		7,746	0	0
SPDR INDEX SHS FDS	S&P EM MKT DIV	78463X533	3,211	129,927	SH		SOLE		129,927	0	0
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	570	17,026	SH		SOLE		17,026	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	714	2,314	SH		SOLE		2,314	0	0
SPDR SER TR	PORTFOLIO INTRMD	78464A375	31,547	863,596	SH		SOLE		863,596	0	0
SPDR SER TR	NUVEEN BLMBRG SR	78468R739	19,546	391,931	SH		SOLE		391,931	0	0
SPDR SER TR	PORTFOLIO SHORT	78464A474	26,730	852,905	SH		SOLE		852,905	0	0
SPDR SER TR	NUVEEN BRC MUNIC	78468R721	2,298	44,490	SH		SOLE		44,490	0	0
SPDR SER TR	PORTFOLIO AGRGTE	78464A649	767	24,840	SH		SOLE		24,840	0	0
SPDR SER TR	S&P DIVID ETF	78464A763	1,003	11,002	SH		SOLE		11,002	0	0
SPDR SER TR	S&P BIOTECH	78464A870	256	2,289	SH		SOLE		2,289	0	0
SPDR SER TR	BLOOMBERG BRCLYS	78468R622	275	2,714	SH		SOLE		2,714	0	0
SPDR SER TR	PORTFOLIO SH TSR	78468R101	27,916	908,735	SH		SOLE		908,735	0	0
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	25,773	1,024,359	SH		SOLE		1,024,359	0	0
SPECIAL OPPORTUNITIES FUND INC	COM	84741T104	20,659	1,833,103	SH		SOLE		1,833,103	0	0
SWEDISH EXPT CR CORP	ROG TTL ETN 22	870297801	88	22,080	SH		SOLE		22,080	0	0
TEMPLETON EMERGING MKTS FD I	COM	880191101	10,038	730,783	SH		SOLE		730,783	0	0
TORTOISE PWR & ENERGY INFRAS	COM	89147X104	5,431	601,494	SH		SOLE		601,494	0	0
TPG RE FIN TR INC	COM	87266M107	1,786	203,100	SH		SOLE		203,100	0	0
TRI-CONTINENTAL CORP	COM	895436103	11,520	466,172	SH		SOLE		466,172	0	0
TRUPANION INC	COM	898202106	1,035	24,243	SH		SOLE		24,243	0	0
UNION PAC CORP	COM	907818108	338	2,000	SH		SOLE		2,000	0	0
UNUM GROUP	COM	91529Y106	175	10,550	SH		SOLE		10,550	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	517	14,100	SH		SOLE		14,100	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	9,946	119,660	SH		SOLE		119,660	0	0
VANGUARD FTSE ALL-WORLD EX-US	ALLWRLD EX US	922042775	417	8,754	SH		SOLE		8,754	0	0
VANGUARD INDEX FDS	VALUE ETF	922908744	17,919	179,924	SH		SOLE		179,924	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	33,709	215,354	SH		SOLE		215,354	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	644	6,027	SH		SOLE		6,027	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	611	7,777	SH		SOLE		7,777	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	354	2,428	SH		SOLE		2,428	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	245	1,492	SH		SOLE		1,492	0	0
VANGUARD INTL EQUITY INDEX	GLB EX US ETF	922042676	287	6,152	SH		SOLE		6,152	0	0
VANGUARD INTL EQUITY INDEX	TT WRLD ST ETF	922042742	583	7,800	SH		SOLE		7,800	0	0
VANGUARD INTL EQUITY INDEX	FTSE EMR MKT ETF	922042858	587	14,825	SH		SOLE		14,825	0	0
VANGUARD MALVERN FDS	STRM INFPROIDX	922020805	699	13,940	SH		SOLE		13,940	0	0
VANGUARD MUN BD FDS	TAX EXEMPT BD	922907746	367	6,788	SH		SOLE		6,788	0	0
VANGUARD SCOTTSDALE FDS	MORTG-BACK SEC	92206C771	17,184	316,056	SH		SOLE		316,056	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS1000IDX	92206C730	1,695	11,946	SH		SOLE		11,946	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS2000IDX	92206C664	253	2,194	SH		SOLE		2,194	0	0
VANGUARD TAX-MANAGED FDS	FTSE DEV MKT ETF	921943858	455	11,723	SH		SOLE		11,723	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	17,943	64,380	SH		SOLE		64,380	0	0
VANGUARD WORLD FDS	UTILITIES ETF	92204A876	268	2,165	SH		SOLE		2,165	0	0
VANGUARD WORLD FDS	HEALTH CAR ETF	92204A504	303	1,572	SH		SOLE		1,572	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	276	5,006	SH		SOLE		5,006	0	0
VERTICAL CAP INCOME FUND	SHS BEN INT	92535C104	15,002	1,549,752	SH		SOLE		1,549,752	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	2,998	620,749	SH		SOLE		620,749	0	0
VOYA PRIME RATE TR	SH BEN INT	92913A100	14,266	3,505,083	SH		SOLE		3,505,083	0	0
WADDELL & REED FINL INC	CL A	930059100	1,471	94,815	SH		SOLE		94,815	0	0
WALMART INC	COM	931142103	240	2,000	SH		SOLE		2,000	0	0
WELLS FARGO CO NEW	PERP PFD CNV A	949746804	4,392	3,386	SH		SOLE		3,386	0	0
WESTERN ASSET CORPORATE LN F	COM	95790J102	2,728	323,479	SH		SOLE		323,479	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	21,951	1,391,333	SH		SOLE		1,391,333	0	0
WESTERN ASST INFLTN LKD INM	COM SH BEN INT	95766Q106	9,507	807,016	SH		SOLE		807,016	0	0
WILLIAMS COS INC	COM	969457100	447	23,500	SH		SOLE		23,500	0	0
WISDOMTREE TR	INDIA ERNGS FD	97717W422	257	12,840	SH		SOLE		12,840	0	0
WISDOMTREE TR	US LARGECAP FUND	97717W588	6,191	186,639	SH		SOLE		186,639	0	0
WISDOMTREE TR	US QTLY DIV GRT	97717X669	31,794	698,919	SH		SOLE		698,919	0	0
ZOETIS INC	COM CL A	98978V103	206	1,500	SH		SOLE		1,500	0	0