Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
YPF	YPF SOCIEDAD ANONIMA	2,803,076	$74.2M	20.8%	$26.97	—	SPON ADR CL D	984245100
—	POWERSHARES QQQ TRUST	385,000	$39.75M	11.2%	$103.25	—	UNIT SER 1	73935A104
—	ADAMS EXPRESS CO	2,011,668	$27.52M	7.7%	$11.96	—	COM	006212104
—	GENERAL AMERN INVS INC	782,501	$27.39M	7.7%	$31.94	—	COM	368802104
—	TRI CONTL CORP	1,253,247	$26.83M	7.5%	$17.90	—	COM	895436103
EEM	ISHARES TR	431,500	$16.95M	4.8%	$39.29	—	MSCI EMG MKT ETF	464287234
—	LIBERTY ALL STAR EQUITY FD	2,039,229	$12.2M	3.4%	$5.22	—	SH BEN INT	530158104
—	CENTRAL SECS CORP	549,832	$12.08M	3.4%	$21.09	—	COM	155123102
—	ROYCE VALUE TR INC	718,450	$10.29M	2.9%	$15.17	—	COM	780910105
—	THAI FD INC	649,970	$7.662M	2.2%	$18.25	—	COM	882904105
—	BOULDER TOTAL RETURN FD INC	260,965	$7.242M	2.0%	$21.81	—	COM	101541100
—	BOULDER GROWTH & INCOME FD I	772,109	$6.988M	2.0%	$7.63	—	COM	101507101
—	MORGAN STANLEY INDIA INVS FD	183,705	$4.938M	1.4%	$15.40	—	COM	61745C105
—	CENTRAL EUR RUSS & TURK FD I	232,039	$4.59M	1.3%	$27.46	—	COM	153436100
—	MARKET VECTORS ETF TR	272,000	$3.979M	1.1%	$14.63	—	RUSSIA ETF	57060U506
—	MORGAN STANLEY ASIA PAC FD I	261,250	$3.88M	1.1%	$15.70	—	COM	61744U106
—	SPDR SERIES TRUST	78,100	$3.738M	1.1%	$47.86	—	S&P OILGAS EXP	78464A730
—	TURKISH INVT FD INC	307,663	$3.394M	1.0%	$11.42	—	COM	900145103
EWZ	ISHARES	92,000	$3.364M	0.9%	$36.57	—	MSCI BRZ CAP ETF	464286400
—	ABERDEEN LATIN AMER EQTY FD	141,621	$3.198M	0.9%	$28.66	—	COM	00306K106
XJEQX	ABERDEEN JAPAN EQUITY FD INC	446,498	$3.023M	0.8%	$7.11	—	COM	00306J109
—	JAPAN SMALLER CAPTLZTN FD IN	323,189	$2.899M	0.8%	$9.46	—	COM	47109U104
—	MARKET VECTORS ETF TR	150,000	$2.757M	0.8%	$19.76	—	GOLD MINER ETF	57060U100
—	DUFF & PHELPS GLB UTL INC FD	125,757	$2.721M	0.8%	$21.09	—	COM	26433C105
—	MEXICO EQUITY & INCOME FD	186,172	$2.348M	0.7%	$15.44	—	COM	592834105
—	KOREA FD	57,986	$2.176M	0.6%	$38.99	—	COM NEW	500634209
—	CLOUGH GLOBAL ALLOCATION FD	134,401	$1.985M	0.6%	$15.15	—	COM	18913Y103
—	ISHARES	168,500	$1.894M	0.5%	$12.14	—	MSCI JAPAN ETF	464286848
—	COHEN & STEERS INFRASTRUCTUR	82,083	$1.865M	0.5%	$23.14	—	COM	19248A109
—	JPMORGAN CHINA REGION FD INC	104,840	$1.773M	0.5%	$14.97	—	COM	48126T104
—	EUROPEAN EQUITY FUND	205,411	$1.691M	0.5%	$7.16	—	COM	298768102
—	COHEN & STEERS QUALITY RLTY	136,600	$1.665M	0.5%	$9.48	—	COM	19247L106
—	KOREA EQUITY FD INC	216,040	$1.664M	0.5%	$8.03	—	COM	50063B104
—	DENALI FD INC	67,125	$1.516M	0.4%	$19.46	—	COM	24823A102
—	TEMPLETON RUS AND EAST EUR F	167,771	$1.51M	0.4%	$9.49	—	COM	88022F105
DXJ	WISDOMTREE TR	30,000	$1.477M	0.4%	$50.66	—	JAPN HEDGE EQT	97717W851
—	BANRO CORP	10,873,150	$1.41M	0.4%	$0.58	—	COM	066800103
—	ABERDEEN ISRAEL FUND INC	83,665	$1.389M	0.4%	$14.83	—	COM	00301L109
—	MACQUARIE GLBL INFRA TOTL RE	51,862	$1.282M	0.4%	$22.57	—	COM	55608D101
—	TAIWAN FD INC	75,144	$1.229M	0.3%	$18.65	—	COM	874036106
—	COHEN & STEERS REIT & PFD IN	57,066	$1.084M	0.3%	$18.03	—	COM	19247X100
—	ABERDEEN SINGAPORE FD INC	86,443	$1.03M	0.3%	$12.44	—	COM	003244100
EWH	ISHARES	49,300	$1.013M	0.3%	$20.32	—	MSCI HONG KG ETF	464286871
XXCHNXX	CHINA FD INC	54,900	$1.001M	0.3%	$20.16	—	COM	169373107
—	MORGAN STANLEY EASTN EUR FD	71,994	$994K	0.3%	$18.69	—	COM	616988101
—	NEW IRELAND FUND INC	76,359	$964K	0.3%	$13.65	—	COM	645673104
—	ELLSWORTH FUND LTD	109,957	$958K	0.3%	$7.66	—	COM	289074106
—	ABERDEEN INDONESIA FD INC	109,613	$922K	0.3%	$9.18	—	COM	00305P106
—	ABERDEEN EMERGING MKTS SMALL	68,443	$895K	0.3%	$17.64	—	COM	00301T102
—	SWISS HELVETIA FD INC	80,288	$894K	0.3%	$13.44	—	COM	870875101
IEV	ISHARES TR	15,800	$672K	0.2%	$47.47	—	EUROPE ETF	464287861
EZU	ISHARES	18,400	$668K	0.2%	$41.36	—	EMU ETF	464286608
FEZ	SPDR INDEX SHS FDS	18,100	$667K	0.2%	$42.21	—	EURO STOXX 50	78463X202
—	TEMPLETON DRAGON FD INC	27,137	$652K	0.2%	$25.85	—	COM	88018T101
—	LATIN AMERN DISCOVERY FD INC	58,440	$652K	0.2%	$13.42	—	COM	51828C106
—	ISHARES TR	35,800	$645K	0.2%	$19.39	—	MSCI UTD KNGDM	46434V548
—	LMP REAL ESTATE INCOME FD IN	48,800	$612K	0.2%	$11.23	—	COM	50208C108
XFEOX	FIRST TR/ABERDEEN EMERG OPT	35,612	$586K	0.2%	$16.46	—	COM	33731K102
FXI	ISHARES TR	13,000	$541K	0.2%	$37.88	—	CHINA LG-CAP ETF	464287184
—	ADVENT CLAYMORE ENH GRW & IN	50,800	$452K	0.1%	$8.90	—	COM	00765E104
—	TORTOISE PWR & ENERGY INFRAS	13,093	$337K	0.1%	$25.74	—	COM	89147X104
—	CLOUGH GLOBAL OPPORTUNITIES	15,500	$199K	0.1%	$12.87	—	SH BEN INT	18914E106
—	PROSHARES TR	6,000	$173K	0.0%	$42.13	—	ULT MSCIBZL CAPP	74347X120
—	NEW GERMANY FD INC	10,306	$145K	0.0%	$18.35	—	COM	644465106
—	GABELLI HLTHCARE & WELLNESS	11,741	$122K	0.0%	$10.01	—	SHS	36246K103
—	GABELLI GLOBL UTIL & INCOME	5,602	$109K	0.0%	$19.81	—	COM SH BEN INT	36242L105
—	CLOUGH GLOBAL EQUITY FD	6,600	$96,000	0.0%	$14.97	—	COM	18914C100
SPY	SPDR S&P 500 ETF TR	450	$92,000	0.0%	$204.44	—	TR UNIT	78462F103
—	ASIA TIGERS FD INC	6,773	$76,000	0.0%	$11.22	—	COM	04516T105
—	VIRTUS TOTAL RETURN FD	13,925	$63,000	0.0%	$3.94	—	COM	92829A103
—	RMR REAL ESTATE INCOME FUND	2,799	$58,000	0.0%	$18.69	—	COM	76970B101
—	GDL FUND	3,500	$36,000	0.0%	$10.57	—	COM SH BEN IT	361570104
—	RENN FD INC	16,025	$21,000	0.0%	$1.50	—	COM	759720105