Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
YPF	YPF SOCIEDAD ANONIMA	2,193,218	$60.2M	17.2%	$26.97	—	SPON ADR CL D	984245100
—	POWERSHARES QQQ TRUST	420,600	$44.41M	12.7%	$103.45	—	UNIT SER 1	73935A104
—	ADAMS EXPRESS CO	1,933,572	$26.99M	7.7%	$11.96	—	COM	006212104
—	GENERAL AMERN INVS INC	763,801	$26.72M	7.6%	$31.94	—	COM	368802104
—	TRI CONTL CORP	1,220,747	$26.48M	7.6%	$17.90	—	COM	895436103
IWO	ISHARES TR	105,000	$15.91M	4.6%	$151.55	—	RUS 2000 GRW ETF	464287648
—	BOULDER GROWTH & INCOME FD I	1,698,736	$14.56M	4.2%	$8.14	—	COM	101507101
EEM	ISHARES TR	314,500	$12.62M	3.6%	$39.29	—	MSCI EMG MKT ETF	464287234
—	CENTRAL SECS CORP	551,032	$12.01M	3.4%	$21.09	—	COM	155123102
—	LIBERTY ALL STAR EQUITY FD	2,039,229	$11.91M	3.4%	$5.22	—	SH BEN INT	530158104
—	ROYCE VALUE TR INC	722,728	$10.35M	3.0%	$15.17	—	COM	780910105
—	THAI FD INC	649,570	$5.664M	1.6%	$18.25	—	COM	882904105
—	MORGAN STANLEY INDIA INVS FD	182,887	$5.097M	1.5%	$15.40	—	COM	61745C105
—	MORGAN STANLEY ASIA PAC FD I	255,750	$4.032M	1.2%	$15.70	—	COM	61744U106
—	CENTRAL EUR RUSS & TURK FD I	196,092	$4.02M	1.1%	$27.46	—	COM	153436100
—	MARKET VECTORS ETF TR	222,000	$3.781M	1.1%	$14.63	—	RUSSIA ETF	57060U506
XJEQX	ABERDEEN JAPAN EQUITY FD INC	446,498	$3.617M	1.0%	$7.11	—	COM	00306J109
IWF	ISHARES TR	35,000	$3.462M	1.0%	$98.91	—	RUS 1000 GRW ETF	464287614
EWZ	ISHARES	109,900	$3.448M	1.0%	$35.72	—	MSCI BRZ CAP ETF	464286400
EFA	ISHARES TR	50,000	$3.209M	0.9%	$64.18	—	MSCI EAFE ETF	464287465
—	SWISS HELVETIA FD INC	269,141	$3.106M	0.9%	$12.11	—	COM	870875101
—	ABERDEEN LATIN AMER EQTY FD	144,381	$2.928M	0.8%	$28.50	—	COM	00306K106
—	MORGAN STANLEY CHINA A SH FD	88,220	$2.904M	0.8%	$32.92	—	COM	617468103
—	MARKET VECTORS ETF TR	150,000	$2.736M	0.8%	$19.76	—	GOLD MINER ETF	57060U100
—	JAPAN SMALLER CAPTLZTN FD IN	254,326	$2.528M	0.7%	$9.46	—	COM	47109U104
—	KOREA FD	61,585	$2.468M	0.7%	$39.06	—	COM NEW	500634209
—	MEXICO EQUITY & INCOME FD	196,415	$2.425M	0.7%	$15.27	—	COM	592834105
—	TURKISH INVT FD INC	242,136	$2.325M	0.7%	$11.42	—	COM	900145103
—	JPMORGAN CHINA REGION FD INC	125,140	$2.26M	0.6%	$15.47	—	COM	48126T104
—	CLOUGH GLOBAL ALLOCATION FD	134,401	$2.023M	0.6%	$15.15	—	COM	18913Y103
—	MACQUARIE GLBL INFRA TOTL RE	73,062	$1.812M	0.5%	$23.21	—	COM	55608D101
—	BANRO CORP	9,091,677	$1.803M	0.5%	$0.58	—	COM	066800103
—	KOREA EQUITY FD INC	216,040	$1.653M	0.5%	$8.03	—	COM	50063B104
—	GLOBAL X FDS	150,000	$1.653M	0.5%	$11.02	—	FTSE GREECE 20	37950E366
—	EUROPEAN EQUITY FUND	183,623	$1.609M	0.5%	$7.16	—	COM	298768102
—	ABERDEEN ISRAEL FUND INC	83,096	$1.464M	0.4%	$14.83	—	COM	00301L109
—	TAIWAN FD INC	76,037	$1.278M	0.4%	$18.63	—	COM	874036106
—	TEMPLETON RUS AND EAST EUR F	126,866	$1.247M	0.4%	$9.49	—	COM	88022F105
—	ELLSWORTH GROWTH & INCOME FD	109,957	$963K	0.3%	$7.66	—	COM	289074106
—	NEW IRELAND FUND INC	73,639	$960K	0.3%	$13.65	—	COM	645673104
—	SPDR SERIES TRUST	18,100	$935K	0.3%	$47.86	—	S&P OILGAS EXP	78464A730
XXCHNXX	CHINA FD INC	47,010	$910K	0.3%	$20.16	—	COM	169373107
—	ABERDEEN EMERGING MKTS SMALL	68,443	$860K	0.2%	$17.64	—	COM	00301T102
—	ABERDEEN INDONESIA FD INC	109,613	$844K	0.2%	$9.18	—	COM	00305P106
—	ABERDEEN SINGAPORE FD INC	70,809	$804K	0.2%	$12.44	—	COM	003244100
—	LATIN AMERN DISCOVERY FD INC	75,924	$753K	0.2%	$12.62	—	COM	51828C106
—	TEMPLETON DRAGON FD INC	27,137	$674K	0.2%	$25.85	—	COM	88018T101
—	DIREXION SHS ETF TR	128,400	$650K	0.2%	$5.06	—	DRX DLYBRZB 3X	25459Y546
—	SOURCE CAP INC	8,149	$598K	0.2%	$73.38	—	COM	836144105
XFEOX	FIRST TR/ABERDEEN EMERG OPT	35,612	$580K	0.2%	$16.46	—	COM	33731K102
—	ASIA PAC FD INC	48,990	$569K	0.2%	$11.61	—	COM	044901106
EZA	ISHARES	7,600	$509K	0.1%	$66.97	—	MSCI STH AFR ETF	464286780
—	ADVENT CLAYMORE ENH GRW & IN	50,800	$479K	0.1%	$8.90	—	COM	00765E104
—	DIREXION SHS ETF TR	5,000	$475K	0.1%	$95.00	—	INDIA BULL 3X SH	25459Y330
—	BANCROFT FUND LTD	15,791	$331K	0.1%	$20.96	—	COM	059695106
—	CLOUGH GLOBAL OPPORTUNITIES	15,500	$193K	0.1%	$12.87	—	SH BEN INT	18914E106
—	COHEN & STEERS INFRASTRUCTUR	6,140	$140K	0.0%	$23.14	—	COM	19248A109
—	GABELLI HLTHCARE & WELLNESS	11,741	$132K	0.0%	$10.01	—	SHS	36246K103
—	ISHARES INC	9,600	$125K	0.0%	$13.02	—	MSCI RUSSIA CAP	46434G806
—	PROSHARES TR	6,000	$123K	0.0%	$42.13	—	ULT MSCIBZL CAPP	74347X120
—	CLOUGH GLOBAL EQUITY FD	6,600	$99,000	0.0%	$14.97	—	COM	18914C100
—	VIRTUS TOTAL RETURN FD	13,925	$63,000	0.0%	$3.94	—	COM	92829A103
—	ASIA TIGERS FD INC	5,192	$60,000	0.0%	$11.22	—	COM	04516T105
—	RMR REAL ESTATE INCOME FUND	2,099	$44,000	0.0%	$18.69	—	COM	76970B101
—	GDL FUND	3,900	$40,000	0.0%	$10.54	—	COM SH BEN IT	361570104
—	GABELLI GLOBL UTIL & INCOME	1,469	$27,000	0.0%	$19.81	—	COM SH BEN INT	36242L105
—	RENN FD INC	16,025	$18,000	0.0%	$1.50	—	COM	759720105