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	669	6,147	SH		SOLE		6,147	0	0
ABBVIE INC	COM	00287Y109	531	6,065	SH		SOLE		6,065	0	0
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	5,959	919,539	SH		SOLE		919,539	0	0
ABERDEEN GLOBAL DYNAMIC DIVID	COM	00302M106	409	44,373	SH		SOLE		44,373	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	195	23,513	SH		SOLE		23,513	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	3,004	378,363	SH		SOLE		378,363	0	0
ACCEL ENTERTAINMENT INC	COM CL A1	00436Q106	1,460	136,314	SH		SOLE		136,314	0	0
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	28,475	2,413,150	SH		SOLE		2,413,150	0	0
ANWORTH MTG ASSET CORP	COM	037347101	51	30,000	SH		SOLE		30,000	0	0
APPLE INC	COM	037833100	865	7,472	SH		SOLE		7,472	0	0
ARES CAPITAL CORP	COM	04010L103	4,146	297,199	SH		SOLE		297,199	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	2,294	250,942	SH		SOLE		250,942	0	0
AUTOMATIC DATA PROCESSING INC	COM	053015103	516	3,678	SH		SOLE		3,678	0	0
BARCLAYS BANK PLC	IPATH SELCT MLP	06742C723	215	23,737	SH		SOLE		23,737	0	0
BARINGS BDC INC	COM	06759L103	10,513	1,314,130	SH		SOLE		1,314,130	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	387	1,818	SH		SOLE		1,818	0	0
BK OF AMERICA CORP	7.25%CNV PFD L	060505682	713	479	SH		SOLE		479	0	0
BK OF AMERICA CORP	COM	060505104	502	20,827	SH		SOLE		20,827	0	0
BLACKROCK ENHANCED EQTY DIV	COM	09251A104	107	14,700	SH		SOLE		14,700	0	0
BLACKROCK ENHANCED GOVT FUND	COM	09255K108	1,118	83,533	SH		SOLE		83,533	0	0
BLACKROCK FLOAT RATE INCM	COM	09255X100	18,321	1,593,112	SH		SOLE		1,593,112	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	1,391	123,887	SH		SOLE		123,887	0	0
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	407	16,266	SH		SOLE		16,266	0	0
BLACKROCK MUNI INTER DR FD INC	COM	09253X102	248	17,614	SH		SOLE		17,614	0	0
BLACKROCK MUNIHLDS INVSTM QL	COM	09254P108	2,604	193,518	SH		SOLE		193,518	0	0
BLACKROCK NY MUNI INC QLTY TR	COM	09249U105	393	29,942	SH		SOLE		29,942	0	0
BLACKSTONE MTG TR INC	COM CL A	09257W100	1,426	64,910	SH		SOLE		64,910	0	0
BRT APARTMENTS CORP	COM	055645303	1,508	125,626	SH		SOLE		125,626	0	0
CHEVRON CORP NEW	COM	166764100	561	7,787	SH		SOLE		7,787	0	0
CISCO SYS INC	COM	17275R102	374	9,500	SH		SOLE		9,500	0	0
CITIGROUP INC	COM	172967424	426	9,890	SH		SOLE		9,890	0	0
COLONY CR REAL ESTATE INC	COM CL A	19625T101	1,516	308,818	SH		SOLE		308,818	0	0
EATON VANCE ENHANCED EQTY INCM	COM	278274105	408	27,890	SH		SOLE		27,890	0	0
EATON VANCE FLTING RATE INC	COM	278279104	5,750	483,980	SH		SOLE		483,980	0	0
EATON VANCE LTD DUR INCOME	COM	27828H105	34,536	3,053,613	SH		SOLE		3,053,613	0	0
EATON VANCE MUN BD FD	COM	27827X101	20,611	1,564,959	SH		SOLE		1,564,959	0	0
EATON VANCE SHORT DUR DIV IN	COM	27828V104	17,394	1,519,135	SH		SOLE		1,519,135	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	278	37,820	SH		SOLE		37,820	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	109	10,000	SH		SOLE		10,000	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	337	29,216	SH		SOLE		29,216	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	2,664	88,435	SH		SOLE		88,435	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	1,466	28,234	SH		SOLE		28,234	0	0
EUROPEAN EQUITY FD INC	COM	298768102	255	26,920	SH		SOLE		26,920	0	0
FIRST TR SR FLG RTE INCM FD	COM	33733U108	13,942	1,270,933	SH		SOLE		1,270,933	0	0
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	2,382	282,188	SH		SOLE		282,188	0	0
FOCUS FINL PARTNERS INC	COM CL A	34417P100	3,348	102,119	SH		SOLE		102,119	0	0
GDL FUND	COM SH BEN IT	361570104	8,369	998,727	SH		SOLE		998,727	0	0
GENERAL AMERN INVS INC	COM	368802104	617	17,777	SH		SOLE		17,777	0	0
GENERAL MOTORS CORP	COM	37045V100	326	11,030	SH		SOLE		11,030	0	0
GENWORTH FINL INC	COM CL A	37247D106	40	12,000	SH		SOLE		12,000	0	0
GOLUB CAP BDC INC	COM	38173M102	3,019	228,051	SH		SOLE		228,051	0	0
GRANITE PT MTG TR INC	COM	38741L107	2,298	324,181	SH		SOLE		324,181	0	0
GUGGENHEIM ENHANCED EQUITY	COM	40167B100	1,778	326,158	SH		SOLE		326,158	0	0
INTEL CORP	COM	458140100	937	18,100	SH		SOLE		18,100	0	0
INVESCO EXCHANGE TRADED FD	FTSE RAFI 1000	46137V613	28,525	250,684	SH		SOLE		250,684	0	0
INVESCO SR INCOME TR	COM	46131H107	111	30,350	SH		SOLE		30,350	0	0
ISHARES MSCI JAPAN ETF	MSCI JPN ETF NEW	46434G822	501	8,486	SH		SOLE		8,486	0	0
ISHARES TR	US TREAS BD ETF	46429B267	37,515	1,342,229	SH		SOLE		1,342,229	0	0
ISHARES TR	IBONDS DEC21 ETF	46434VBK5	2,873	114,683	SH		SOLE		114,683	0	0
ISHARES TR	3-7 YR TREAS BD	464288661	18,213	136,339	SH		SOLE		136,339	0	0
ISHARES TR	BARCLAYS 7-10 YR	464287440	21,394	175,623	SH		SOLE		175,623	0	0
ISHARES TR	S&P 500 VAL ETF	464287408	15,568	136,444	SH		SOLE		136,444	0	0
ISHARES TR	USA QUALITY FCTR	46432F339	4,813	46,398	SH		SOLE		46,398	0	0
ISHARES TR	1-3 YR TREAS BD	464287457	3,900	45,086	SH		SOLE		45,086	0	0
ISHARES TR	INTL QLTY FACTOR	46434V456	275	8,774	SH		SOLE		8,774	0	0
ISHARES TR	SHORT TREAS BD	464288679	1,367	12,345	SH		SOLE		12,345	0	0
ISHARES TR	SP SMCP600VL ETF	464287879	613	5,009	SH		SOLE		5,009	0	0
ISHARES TR	EDGE MSCI USA VL	46432F388	400	5,422	SH		SOLE		5,422	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	1,547	13,092	SH		SOLE		13,092	0	0
ISHARES TR	CORE MSCI EMKT	46434G103	2,223	42,111	SH		SOLE		42,111	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	2,437	40,433	SH		SOLE		40,433	0	0
ISHARES TR	PFD AND INCM SEC	464288687	581	15,936	SH		SOLE		15,936	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	1,802	8,310	SH		SOLE		8,310	0	0
ISHARES TR	MSCI EAFE ETF	464287465	835	13,118	SH		SOLE		13,118	0	0
ISHARES TR	S&P 500 INDEX	464287200	3,660	10,891	SH		SOLE		10,891	0	0
ISHARES TR	S&P MIDCAP FUND	464287507	664	3,582	SH		SOLE		3,582	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	217	1,871	SH		SOLE		1,871	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	299	1,995	SH		SOLE		1,995	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	222	959	SH		SOLE		959	0	0
ISHARES TR	S&P 100 ETF	464287101	67,694	434,686	SH		SOLE		434,686	0	0
ISHARES TR	IBONDS DEC20 ETF	46434VAQ3	7,136	282,855	SH		SOLE		282,855	0	0
J P MORGAN EXCHANGE-TRADED	ULTRA SHT MUNCPL	46641Q654	459	9,000	SH		SOLE		9,000	0	0
JOHNSON & JOHNSON	COM	478160104	435	2,925	SH		SOLE		2,925	0	0
JPMORGAN CHASE & CO	COM	46625H100	232	2,414	SH		SOLE		2,414	0	0
KELLOGG CO	COM	487836108	226	3,500	SH		SOLE		3,500	0	0
KINDER MORGAN INC DEL	COM	49456B101	658	53,405	SH		SOLE		53,405	0	0
LADDER CAP CORP	CL A	505743104	3,725	511,602	SH		SOLE		511,602	0	0
LAZARD GLBL TOTAL RETURN	COM	52106W103	209	13,479	SH		SOLE		13,479	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	316	52,644	SH		SOLE		52,644	0	0
LILLY ELI & CO	COM	532457108	343	2,317	SH		SOLE		2,317	0	0
LINCOLN NATL CORP IND	COM	534187109	229	7,295	SH		SOLE		7,295	0	0
LOEWS CORP	COM	540424108	644	18,541	SH		SOLE		18,541	0	0
MACQUARIE GLOBAL INFRASTRUCT	COM	55608D101	230	13,112	SH		SOLE		13,112	0	0
MERCK & CO INC	COM	58933Y105	418	5,000	SH		SOLE		5,000	0	0
MFA FINL INC	COM	55272X102	102	37,994	SH		SOLE		37,994	0	0
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	5,653	1,220,980	SH		SOLE		1,220,980	0	0
MFS INTER INCOME TR	SH BEN INT	55273C107	11,992	3,215,117	SH		SOLE		3,215,117	0	0
MICROSOFT CORP	COM	594918104	1,587	7,544	SH		SOLE		7,544	0	0
MVC CAP INC	COM	553829102	118	15,212	SH		SOLE		15,212	0	0
NEW GERMANY FUND	COM	644465106	370	21,933	SH		SOLE		21,933	0	0
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	2,469	412,104	SH		SOLE		412,104	0	0
NUVEEN INT DUR QUAL MUN TRM	COM	670677103	9,770	682,111	SH		SOLE		682,111	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	977	139,491	SH		SOLE		139,491	0	0
NUVEEN MUN 2021 TARGET TERM	COM	670687102	2,738	281,821	SH		SOLE		281,821	0	0
NUVEEN NEW YORK MUN VALUE FD	COM	670706100	162	10,956	SH		SOLE		10,956	0	0
NUVEEN NY SELECT TAX FREE PR	SH BEN INT	67063V104	791	60,274	SH		SOLE		60,274	0	0
NUVEEN QUALITY MUNCP INCOME	COM	67066V101	6,922	475,436	SH		SOLE		475,436	0	0
NUVEEN REAL ASSET INC & GROW	COM	67074Y105	8,920	733,766	SH		SOLE		733,766	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	2,356	204,962	SH		SOLE		204,962	0	0
NUVEEN SELECT MAT MUN FD	SH BEN INT	67061T101	560	53,203	SH		SOLE		53,203	0	0
NUVEEN SELECT TAX FREE INCOME	SH BEN INT	67063X100	558	33,940	SH		SOLE		33,940	0	0
NUVEEN SELECT TAX FREE INCOME	SH BEN INT	67063C106	373	24,809	SH		SOLE		24,809	0	0
NUVEEN SR INCOME FD	COM	67067Y104	122	25,000	SH		SOLE		25,000	0	0
OAKTREE STRATEGIC INCOME COR	COM	67402D104	4,119	632,680	SH		SOLE		632,680	0	0
PAYCHEX INC	COM	704326107	319	4,000	SH		SOLE		4,000	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	1,951	228,677	SH		SOLE		228,677	0	0
PENNANTPARK INVT CORP	COM	708062104	122	37,000	SH		SOLE		37,000	0	0
PFIZER INC COM	COM	717081103	404	11,000	SH		SOLE		11,000	0	0
PIMCO ETF TR	ENHAN SHRT MA AC	72201R833	16,014	157,060	SH		SOLE		157,060	0	0
PIONEER FLOATING RATE TR	COM	72369J102	5,263	521,107	SH		SOLE		521,107	0	0
PROCTER AND GAMBLE CO	COM	742718109	245	1,761	SH		SOLE		1,761	0	0
PUTNAM MUNI OPPORTUNITIES TR	SH BEN INT	746922103	534	41,000	SH		SOLE		41,000	0	0
REAVES UTIL INCOME FD	COM SH BEN INT	756158101	229	7,311	SH		SOLE		7,311	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	296	24,143	SH		SOLE		24,143	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	384	6,231	SH		SOLE		6,231	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	543	9,137	SH		SOLE		9,137	0	0
SPDR INDEX SHS FDS	S&P EM MKT DIV	78463X533	3,409	140,334	SH		SOLE		140,334	0	0
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	622	17,026	SH		SOLE		17,026	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	775	2,314	SH		SOLE		2,314	0	0
SPDR SER TR	PORTFOLIO INTRMD	78464A375	31,722	862,944	SH		SOLE		862,944	0	0
SPDR SER TR	NUVEEN BLMBRG SR	78468R739	20,577	412,605	SH		SOLE		412,605	0	0
SPDR SER TR	PORTFOLIO SHORT	78464A474	26,627	848,793	SH		SOLE		848,793	0	0
SPDR SER TR	PORTFOLIO SH TSR	78468R101	5,150	167,757	SH		SOLE		167,757	0	0
SPDR SER TR	NUVEEN BRC MUNIC	78468R721	2,475	47,615	SH		SOLE		47,615	0	0
SPDR SER TR	PORTFOLIO AGRGTE	78464A649	765	24,840	SH		SOLE		24,840	0	0
SPDR SER TR	S&P DIVID ETF	78464A763	1,017	11,002	SH		SOLE		11,002	0	0
SPDR SER TR	S&P BIOTECH	78464A870	255	2,289	SH		SOLE		2,289	0	0
SPDR SER TR	BLOOMBERG BRCLYS	78468R622	283	2,714	SH		SOLE		2,714	0	0
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	25,905	1,027,556	SH		SOLE		1,027,556	0	0
SPECIAL OPPORTUNITIES FUND INC	COM	84741T104	22,806	1,837,969	SH		SOLE		1,837,969	0	0
SWEDISH EXPT CR CORP	ROG TTL ETN 22	870297801	95	22,080	SH		SOLE		22,080	0	0
TEMPLETON EMERGING MKTS FD I	COM	880191101	11,324	734,116	SH		SOLE		734,116	0	0
TORTOISE PWR & ENERGY INFRAS	COM	89147X104	5,823	683,426	SH		SOLE		683,426	0	0
TPG RE FIN TR INC	COM	87266M107	2,476	285,920	SH		SOLE		285,920	0	0
TRI-CONTINENTAL CORP	COM	895436103	12,066	465,321	SH		SOLE		465,321	0	0
TRUPANION INC	COM	898202106	395	5,000	SH		SOLE		5,000	0	0
UNION PAC CORP	COM	907818108	394	2,000	SH		SOLE		2,000	0	0
UNUM GROUP	COM	91529Y106	178	10,550	SH		SOLE		10,550	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	564	14,400	SH		SOLE		14,400	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	7,742	93,218	SH		SOLE		93,218	0	0
VANGUARD FTSE ALL-WORLD EX-US	ALLWRLD EX US	922042775	444	8,800	SH		SOLE		8,800	0	0
VANGUARD INDEX FDS	VALUE ETF	922908744	36,649	350,670	SH		SOLE		350,670	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	36,731	215,673	SH		SOLE		215,673	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	680	6,146	SH		SOLE		6,146	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	615	7,783	SH		SOLE		7,783	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	375	2,437	SH		SOLE		2,437	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	264	1,497	SH		SOLE		1,497	0	0
VANGUARD INTL EQUITY INDEX	GLB EX US ETF	922042676	299	6,152	SH		SOLE		6,152	0	0
VANGUARD INTL EQUITY INDEX	TT WRLD ST ETF	922042742	416	5,165	SH		SOLE		5,165	0	0
VANGUARD INTL EQUITY INDEX	FTSE EMR MKT ETF	922042858	645	14,916	SH		SOLE		14,916	0	0
VANGUARD MALVERN FDS	STRM INFPROIDX	922020805	738	14,470	SH		SOLE		14,470	0	0
VANGUARD MUN BD FDS	TAX EXEMPT BD	922907746	217	3,988	SH		SOLE		3,988	0	0
VANGUARD SCOTTSDALE FDS	MORTG-BACK SEC	92206C771	17,436	321,282	SH		SOLE		321,282	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS1000IDX	92206C730	1,661	10,732	SH		SOLE		10,732	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS2000IDX	92206C664	265	2,194	SH		SOLE		2,194	0	0
VANGUARD TAX-MANAGED FDS	FTSE DEV MKT ETF	921943858	8,550	209,049	SH		SOLE		209,049	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	19,864	63,779	SH		SOLE		63,779	0	0
VANGUARD WORLD FDS	UTILITIES ETF	92204A876	280	2,165	SH		SOLE		2,165	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	305	5,133	SH		SOLE		5,133	0	0
VERTICAL CAP INCOME FUND	SHS BEN INT	92535C104	17,577	1,770,123	SH		SOLE		1,770,123	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	3,192	644,873	SH		SOLE		644,873	0	0
VOYA PRIME RATE TR	SH BEN INT	92913A100	15,264	3,461,358	SH		SOLE		3,461,358	0	0
WADDELL & REED FINL INC	CL A	930059100	1,634	110,011	SH		SOLE		110,011	0	0
WALMART INC	COM	931142103	280	2,000	SH		SOLE		2,000	0	0
WELLS FARGO CO NEW	PERP PFD CNV A	949746804	4,403	3,281	SH		SOLE		3,281	0	0
WESTERN ASSET CORPORATE LN	COM	95790j102	5,099	546,861	SH		SOLE		546,861	0	0
WESTERN ASSET VAR RT STRG FD	COM	957667108	21,860	1,326,588	SH		SOLE		1,326,588	0	0
WESTERN ASST INFLTN LKD INM	COM SH BEN INT	95766Q106	10,092	828,572	SH		SOLE		828,572	0	0
WILLIAMS COS INC	COM	969457100	464	23,600	SH		SOLE		23,600	0	0
WISDOMTREE TR	INDIA ERNGS FD	97717W422	303	12,840	SH		SOLE		12,840	0	0
WISDOMTREE TR	US LARGECAP FUND	97717W588	6,587	185,966	SH		SOLE		185,966	0	0
WISDOMTREE TR	US QTLY DIV GRT	97717X669	35,152	709,139	SH		SOLE		709,139	0	0
ZOETIS INC	COM CL A	98978V103	248	1,500	SH		SOLE		1,500	0	0