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
ABBOTT LABS	COM	002824100	657	5,671	SH		SOLE		5,671	0	0
ABBVIE INC	COM	00287Y109	714	6,337	SH		SOLE		6,337	0	0
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	9,699	1,071,727	SH		SOLE		1,071,727	0	0
ABERDEEN GLOBAL DYNAMIC DIVID	COM	00302M106	509	42,402	SH		SOLE		42,402	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	276	31,360	SH		SOLE		31,360	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	3,836	377,168	SH		SOLE		377,168	0	0
AEGON N V	NY REGISTRY SHS	007924103	51	12,250	SH		SOLE		12,250	0	0
AFFILIATED MANAGERS GROUP	COM	008252108	392	2,540	SH		SOLE		2,540	0	0
ALASKA COMMUNICATIONS SYS GR	COM	01167P101	277	83,300	SH		SOLE		83,300	0	0
APPLE INC	COM	037833100	816	5,957	SH		SOLE		5,957	0	0
ARES CAPITAL CORP	COM	04010L103	3,216	164,188	SH		SOLE		164,188	0	0
ARES COML REAL ESTATE CORP	COM	04013V108	2,694	179,090	SH		SOLE		179,090	0	0
AUTOMATIC DATA PROCESSING INC	COM	053015103	639	3,200	SH		SOLE		3,200	0	0
BARCLAYS BANK PLC	IPATH SELCT MLP	06742C723	375	22,645	SH		SOLE		22,645	0	0
BARINGS BDC INC	COM	06759L103	15,891	1,504,798	SH		SOLE		1,504,798	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	439	1,578	SH		SOLE		1,578	0	0
BK OF AMERICA CORP	COM	060505104	859	20,827	SH		SOLE		20,827	0	0
BLACKROCK FLOAT RATE INCM	COM	09255X100	23,048	1,739,449	SH		SOLE		1,739,449	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	1,945	151,260	SH		SOLE		151,260	0	0
BLACKROCK MUNI INTER DR FD INC	COM	09253X102	265	16,857	SH		SOLE		16,857	0	0
BLACKROCK MUNIHLDS INVSTM QL	COM	09254P108	2,514	169,636	SH		SOLE		169,636	0	0
BRIGHTSPIRE CAPITAL INC	COM CL A	10949T109	5,135	538,579	SH		SOLE		538,579	0	0
BRT APARTMENTS CORP	COM	055645303	3,140	178,818	SH		SOLE		178,818	0	0
CENTURY BANCORPORATION INC	CL A NON VTG	156432106	311	2,730	SH		SOLE		2,730	0	0
CHEVRON CORP NEW	COM	166764100	826	7,889	SH		SOLE		7,889	0	0
CISCO SYS INC	COM	17275R102	511	9,644	SH		SOLE		9,644	0	0
CITIGROUP INC	COM	172967424	657	9,285	SH		SOLE		9,285	0	0
COHEN & STEERS MLP INCOME &	COM SHS	19249B106	3,201	786,483	SH		SOLE		786,483	0	0
DOUBLELINE YIELD OPPORTUNTY	COM	25862D105	445	22,252	SH		SOLE		22,252	0	0
EASTERN BANKSHARES INC	COM	27627N105	4,237	206,000	SH		SOLE		206,000	0	0
EATON VANCE 2021 TARGET TRM	COM SHS BEN INT	27829W101	3,328	338,226	SH		SOLE		338,226	0	0
EATON VANCE ENHANCED EQTY INCM	COM	278274105	518	27,890	SH		SOLE		27,890	0	0
EATON VANCE FLTING RATE INC	COM	278279104	1,259	87,518	SH		SOLE		87,518	0	0
EATON VANCE LTD DUR INCOME	COM	27828H105	25,984	1,959,602	SH		SOLE		1,959,602	0	0
EATON VANCE MUN BD FD	COM	27827X101	14,071	1,028,559	SH		SOLE		1,028,559	0	0
EATON VANCE SHORT DUR DIV IN	COM	27828V104	5,867	442,149	SH		SOLE		442,149	0	0
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	141	10,000	SH		SOLE		10,000	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	430	29,216	SH		SOLE		29,216	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	4,104	156,633	SH		SOLE		156,633	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	3,025	38,977	SH		SOLE		38,977	0	0
EUROPEAN EQUITY FD INC	COM	298768102	261	22,925	SH		SOLE		22,925	0	0
FIRST TR EXCHANGE-TRADED FD	NO AMER ENERGY	33738D101	1,303	53,270	SH		SOLE		53,270	0	0
FIRST TR SR FLOATING RATE 2022	COM SHS	33740K101	3,677	386,236	SH		SOLE		386,236	0	0
FOCUS FINL PARTNERS INC	COM CL A	34417P100	4,357	89,839	SH		SOLE		89,839	0	0
GDL FUND	COM SH BEN IT	361570104	9,738	1,073,634	SH		SOLE		1,073,634	0	0
GENERAL MOTORS CORP	COM	37045V100	735	12,430	SH		SOLE		12,430	0	0
GENWORTH FINL INC	COM CL A	37247D106	47	12,000	SH		SOLE		12,000	0	0
GLOBAL X FDS	NASDAQ 100 COVER	37954Y483	1,826	81,419	SH		SOLE		81,419	0	0
GOLUB CAP BDC INC	COM	38173M102	4,038	261,835	SH		SOLE		261,835	0	0
GRANITE PT MTG TR INC	COM	38741L107	5,705	386,783	SH		SOLE		386,783	0	0
GUGGENHEIM ENHANCED EQUITY	COM	40167B100	3,071	356,543	SH		SOLE		356,543	0	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	327	5,250	SH		SOLE		5,250	0	0
INTEL CORP	COM	458140100	1,016	18,100	SH		SOLE		18,100	0	0
INVESCO EXCH TRADED FD TR II	FTSE RAFI EMNG	46138E727	837	35,845	SH		SOLE		35,845	0	0
INVESCO EXCH TRADED FD TR II	FTSE RAFI DEV	46138E743	591	12,275	SH		SOLE		12,275	0	0
INVESCO EXCHANGE TRADED FD	FTSE RAFI 1000	46137V613	45,789	285,594	SH		SOLE		285,594	0	0
ISHARES GOLD TR	ISHARES NEW	464285204	1,763	52,297	SH		SOLE		52,297	0	0
ISHARES INC	MSCI JPN ETF NEW	46434G822	555	8,218	SH		SOLE		8,218	0	0
ISHARES SILVER TR	ISHARES	46428Q109	213	8,800	SH		SOLE		8,800	0	0
ISHARES TR	1-3 YR TREAS BD	464287457	454	5,264	SH		SOLE		5,264	0	0
ISHARES TR	3-7 YR TREAS BD	464288661	5,427	41,575	SH		SOLE		41,575	0	0
ISHARES TR	BARCLAYS 7-10 YR	464287440	32,348	280,092	SH		SOLE		280,092	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	222	1,890	SH		SOLE		1,890	0	0
ISHARES TR	CMBS ETF	46429B366	34,650	637,184	SH		SOLE		637,184	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	6,729	89,893	SH		SOLE		89,893	0	0
ISHARES TR	CORE MSCI EMKT	46434G103	5,962	88,998	SH		SOLE		88,998	0	0
ISHARES TR	CRE U S REIT ETF	464288521	1,824	31,268	SH		SOLE		31,268	0	0
ISHARES TR	IBONDS DEC21 ETF	46434VBK5	885	35,725	SH		SOLE		35,725	0	0
ISHARES TR	MSCI EAFE ETF	464287465	1,066	13,514	SH		SOLE		13,514	0	0
ISHARES TR	INTL QLTY FACTOR	46434V456	306	7,948	SH		SOLE		7,948	0	0
ISHARES TR	USA QUALITY FCTR	46432F339	4,748	35,733	SH		SOLE		35,733	0	0
ISHARES TR	EDGE MSCI USA VL	46432F388	2,494	23,742	SH		SOLE		23,742	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	6,578	41,470	SH		SOLE		41,470	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	458	1,995	SH		SOLE		1,995	0	0
ISHARES TR	S&P 500 INDEX	464287200	17,162	39,920	SH		SOLE		39,920	0	0
ISHARES TR	S&P 500 VAL ETF	464287408	34,584	234,247	SH		SOLE		234,247	0	0
ISHARES TR	S&P MIDCAP FUND	464287507	3,870	14,402	SH		SOLE		14,402	0	0
ISHARES TR	SP SMCP600VL ETF	464287879	2,041	19,362	SH		SOLE		19,362	0	0
ISHARES TR	PFD AND INCM SEC	464288687	1,235	31,401	SH		SOLE		31,401	0	0
ISHARES TR	SHORT TREAS BD	464288679	418	3,787	SH		SOLE		3,787	0	0
ISHARES TR	US TREAS BD ETF	46429B267	51,557	1,938,246	SH		SOLE		1,938,246	0	0
ISHARES TR	0-3 MNTH TREASRY	46436E718	34,284	342,751	SH		SOLE		342,751	0	0
ISHARES TR	IBONDS DEC22 ETF	46434VBA7	22,698	893,614	SH		SOLE		893,614	0	0
ISHARES TR	INTL SEL DIV ETF	464288448	301	9,280	SH		SOLE		9,280	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	2,310	8,508	SH		SOLE		8,508	0	0
ISHARES TR	S&P 100 ETF	464287101	87,715	447,115	SH		SOLE		447,115	0	0
ISHARES U S ETF TR	BLACKROCK ST MAT	46431W507	5,907	117,753	SH		SOLE		117,753	0	0
J P MORGAN EXCHANGE-TRADED F	ULTRA SHT MUNCPL	46641Q654	255	5,000	SH		SOLE		5,000	0	0
JOHNSON & JOHNSON	COM	478160104	400	2,428	SH		SOLE		2,428	0	0
JPMORGAN CHASE & CO	COM	46625H100	436	2,806	SH		SOLE		2,806	0	0
KELLOGG CO	COM	487836108	254	3,950	SH		SOLE		3,950	0	0
KINDER MORGAN INC DEL	COM	49456B101	3,955	216,954	SH		SOLE		216,954	0	0
LADDER CAP CORP	CL A	505743104	6,917	589,158	SH		SOLE		589,158	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	232	25,610	SH		SOLE		25,610	0	0
LILLY ELI & CO	COM	532457108	257	1,119	SH		SOLE		1,119	0	0
LINCOLN NATL CORP IND	COM	534187109	562	8,950	SH		SOLE		8,950	0	0
LOEWS CORP	COM	540424108	1,013	18,541	SH		SOLE		18,541	0	0
MACQUARIE GLOBAL INFRASTRUCT	COM	55608D101	2,614	113,266	SH		SOLE		113,266	0	0
MERCK & CO INC	COM	58933Y105	392	5,000	SH		SOLE		5,000	0	0
MFA FINL INC	COM	55272X102	183	38,990	SH		SOLE		38,990	0	0
MICROSOFT CORP	COM	594918104	2,014	7,435	SH		SOLE		7,435	0	0
MONMOUTH REAL ESTATE	CL A	609720107	1,792	95,719	SH		SOLE		95,719	0	0
NEW GERMANY FUND	COM	644465106	446	22,056	SH		SOLE		22,056	0	0
NUVEEN CORPOATE INCM NOVEM	COM	67077N106	8,478	898,590	SH		SOLE		898,590	0	0
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	382	54,797	SH		SOLE		54,797	0	0
NUVEEN INT DUR QUAL MUN TRM	COM	670677103	12,163	809,119	SH		SOLE		809,119	0	0
NUVEEN MORTGAGE AND INCOME	COM	670735109	10,235	488,060	SH		SOLE		488,060	0	0
NUVEEN MULTI MKT INCOME FD	COM	67075J107	2,251	300,445	SH		SOLE		300,445	0	0
NUVEEN N Y MUN VALUE FD INC	COM	67062M105	166	16,423	SH		SOLE		16,423	0	0
NUVEEN NY SELECT TAX FREE PR	SH BEN INT	67063V104	582	40,898	SH		SOLE		40,898	0	0
NUVEEN QUALITY MUNCP INCOME	COM	67066V101	6,126	381,031	SH		SOLE		381,031	0	0
NUVEEN REAL ASSET INC & GROW	COM	67074Y105	11,045	683,049	SH		SOLE		683,049	0	0
NUVEEN SR INCOME FD	COM	67067Y104	119	20,000	SH		SOLE		20,000	0	0
OAKTREE SPECIALTY LENDING CO	COM	67401P108	7,098	1,061,026	SH		SOLE		1,061,026	0	0
PAYCHEX INC	COM	704326107	429	4,000	SH		SOLE		4,000	0	0
PENNANTPARK FLOATING RATE CA	COM	70806A106	3,412	266,223	SH		SOLE		266,223	0	0
PENNANTPARK INVT CORP	COM	708062104	4,271	628,263	SH		SOLE		628,263	0	0
PFIZER INC COM	COM	717081103	407	10,386	SH		SOLE		10,386	0	0
PHILLIPS 66	COM	718546104	294	3,429	SH		SOLE		3,429	0	0
PIMCO ENRGY TACTICAL CR OPP	COM SHS BEN INT	69346N107	646	51,432	SH		SOLE		51,432	0	0
PIMCO EQUITY SER	RAFI DYN EMERG	72202L389	672	21,685	SH		SOLE		21,685	0	0
PIMCO ETF TR	ENHAN SHRT MA AC	72201R833	47,622	467,024	SH		SOLE		467,024	0	0
PRINCIPAL REAL ESTATE INCOME	SHS BEN INT	74255X104	2,344	154,506	SH		SOLE		154,506	0	0
PUTNAM MUNI OPPORTUNITIES TR	SH BEN INT	746922103	582	41,000	SH		SOLE		41,000	0	0
RAYONIER INC	COM	754907103	1,138	31,681	SH		SOLE		31,681	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	239	15,959	SH		SOLE		15,959	0	0
SABA CAPITAL INC & OPTUNTY FD	SHARES	78518H103	34,312	7,284,917	SH		SOLE		7,284,917	0	0
SELECT SECTOR SPDR TR	SBI INT-UTILS	81369Y886	585	9,250	SH		SOLE		9,250	0	0
SOUTHSIDE BANCSHARE INC	COM	84470P109	276	7,225	SH		SOLE		7,225	0	0
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	775	17,026	SH		SOLE		17,026	0	0
SPDR INDEX SHS FDS	S&P EM MKT DIV	78463X533	4,943	164,878	SH		SOLE		164,878	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	910	2,120	SH		SOLE		2,120	0	0
SPDR SER TR	NUVEEN BRC MUNIC	78468R721	210	4,035	SH		SOLE		4,035	0	0
SPDR SER TR	NUVEEN BLMBRG SR	78468R739	453	9,139	SH		SOLE		9,139	0	0
SPDR SER TR	PORTFOLIO AGRGTE	78464A649	529	17,626	SH		SOLE		17,626	0	0
SPDR SER TR	PORTFOLIO INTRMD	78464A375	31,768	865,619	SH		SOLE		865,619	0	0
SPDR SER TR	PORTFOLIO SHORT	78464A474	47,207	1,508,209	SH		SOLE		1,508,209	0	0
SPDR SER TR	S&P BIOTECH	78464A870	248	1,831	SH		SOLE		1,831	0	0
SPDR SER TR	S&P DIVID ETF	78464A763	1,406	11,502	SH		SOLE		11,502	0	0
SPECIAL OPPORTUNITIES FUND INC	COM	84741T104	54,199	3,572,795	SH		SOLE		3,572,795	0	0
TCW STRATEGIC INCOME FD INC	COM	872340104	912	152,516	SH		SOLE		152,516	0	0
TEMPLETON EMERGING MKTS FD I	COM	880191101	13,674	690,754	SH		SOLE		690,754	0	0
TORTOISE PWR & ENERGY INFRAS	COM	89147X104	13,478	983,110	SH		SOLE		983,110	0	0
TPG RE FIN TR INC	COM	87266M107	5,404	395,924	SH		SOLE		395,924	0	0
TRI-CONTINENTAL CORP	COM	895436103	13,591	398,666	SH		SOLE		398,666	0	0
UNION PAC CORP	COM	907818108	465	2,114	SH		SOLE		2,114	0	0
UNUM GROUP	COM	91529Y106	318	11,185	SH		SOLE		11,185	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	1,056	31,088	SH		SOLE		31,088	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	4,670	56,842	SH		SOLE		56,842	0	0
VANGUARD FTSE ALL-WORLD EX-US	ALLWRLD EX US	922042775	520	8,206	SH		SOLE		8,206	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	3,787	16,812	SH		SOLE		16,812	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	5,722	32,948	SH		SOLE		32,948	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	54,736	245,652	SH		SOLE		245,652	0	0
VANGUARD INDEX FDS	VALUE ETF	922908744	65,208	474,380	SH		SOLE		474,380	0	0
VANGUARD INDEX FDS	MID CAP ETF	922908629	272	1,144	SH		SOLE		1,144	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	795	7,805	SH		SOLE		7,805	0	0
VANGUARD INTL EQUITY INDEX	GLB EX US ETF	922042676	11,052	189,369	SH		SOLE		189,369	0	0
VANGUARD INTL EQUITY INDEX	TT WRLD ST ETF	922042742	535	5,166	SH		SOLE		5,166	0	0
VANGUARD INTL EQUITY INDEX FD	FTSE EMR MKT ETF	922042858	809	14,895	SH		SOLE		14,895	0	0
VANGUARD INTL EQUITY INDEX FD	FTSE EUROPE ETF	922042874	217	3,228	SH		SOLE		3,228	0	0
VANGUARD MALVERN FDS	STRM INFPROIDX	922020805	981	18,723	SH		SOLE		18,723	0	0
VANGUARD MUN BD FDS	TAX EXEMPT BD	922907746	223	4,026	SH		SOLE		4,026	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS1000IDX	92206C730	2,017	10,044	SH		SOLE		10,044	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS2000IDX	92206C664	407	4,388	SH		SOLE		4,388	0	0
VANGUARD SCOTTSDALE FDS	SHORT TERM TREAS	92206C102	283	4,599	SH		SOLE		4,599	0	0
VANGUARD SCOTTSDALE FDS	INTER TERM TREAS	92206C706	4,370	64,443	SH		SOLE		64,443	0	0
VANGUARD TAX-MANAGED INTL FD	FTSE DEV MKT ETF	921943858	24,161	468,959	SH		SOLE		468,959	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	14,888	37,334	SH		SOLE		37,334	0	0
VANGUARD WORLD FDS	UTILITIES ETF	92204A876	300	2,165	SH		SOLE		2,165	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	368	6,562	SH		SOLE		6,562	0	0
VERTICAL CAP INCOME FUND	SHS BEN INT	92535C104	19,714	1,825,367	SH		SOLE		1,825,367	0	0
VIRTUS DIVIDEND INTEREST & P	COM	92840R101	34,743	2,305,433	SH		SOLE		2,305,433	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	2,662	446,644	SH		SOLE		446,644	0	0
WALMART INC	COM	931142103	303	2,150	SH		SOLE		2,150	0	0
WESTERN ASST INFLTN LKD INM	COM SH BEN INT	95766Q106	4,575	326,770	SH		SOLE		326,770	0	0
WILLIAMS COS INC	COM	969457100	504	19,000	SH		SOLE		19,000	0	0
WISDOMTREE TR	INDIA ERNGS FD	97717W422	435	12,840	SH		SOLE		12,840	0	0
WISDOMTREE TR	EM EX ST-OWNED	97717X578	1,271	30,219	SH		SOLE		30,219	0	0
WISDOMTREE TR	JP SMALLCP DIV	97717W836	859	11,640	SH		SOLE		11,640	0	0
WISDOMTREE TR	US LARGECAP FUND	97717W588	10,056	217,618	SH		SOLE		217,618	0	0
WISDOMTREE TR	US MIDCAP FUND	97717W570	636	12,136	SH		SOLE		12,136	0	0
WISDOMTREE TR	US QTLY DIV GRT	97717X669	43,708	732,495	SH		SOLE		732,495	0	0