Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
YPF	YPF SOCIEDAD ANONIMA	4,215,173	$64.2M	21.8%	$21.89	—	SPON ADR CL D	984245100
—	ADAMS DIVERSIFIED EQUITY FD	1,857,019	$23.68M	8.0%	$11.96	—	COM	006212104
—	GENERAL AMERN INVS INC	761,800	$23.6M	8.0%	$31.91	—	COM	368802104
—	TRI CONTL CORP	1,175,463	$22.92M	7.8%	$17.90	—	COM	895436103
IWO	ISHARES TR	139,700	$18.72M	6.4%	$153.29	—	RUS 2000 GRW ETF	464287648
—	LIBERTY ALL STAR EQUITY FD	3,453,571	$17.54M	6.0%	$5.16	—	SH BEN INT	530158104
—	CENTRAL SECS CORP	632,775	$12.5M	4.2%	$21.06	—	COM	155123102
—	MORGAN STANLEY CHINA A SH FD	507,706	$11.39M	3.9%	$29.56	—	COM	617468103
—	ROYCE VALUE TR INC	984,302	$11.32M	3.8%	$14.21	—	COM	780910105
—	BOULDER GROWTH & INCOME FD I	1,456,745	$10.85M	3.7%	$8.14	—	COM	101507101
—	SWISS HELVETIA FD INC	417,837	$4.538M	1.5%	$11.92	—	COM	870875101
—	DIREXION SHS ETF TR	375,000	$4.53M	1.5%	$12.08	—	DLY EMRGMKT BULL	25459Y686
—	THAI FD INC	599,051	$4.241M	1.4%	$17.47	—	COM	882904105
—	MORGAN STANLEY INDIA INVS FD	146,765	$3.872M	1.3%	$15.40	—	COM	61745C105
—	KOREA FD	97,083	$3.448M	1.2%	$39.61	—	COM NEW	500634209
—	ALPINE TOTAL DYNAMIC DIVID F	427,497	$3.206M	1.1%	$8.62	—	COM SH BEN INT N	021060207
XJEQX	ABERDEEN JAPAN EQUITY FD INC	442,200	$3.033M	1.0%	$7.11	—	COM	00306J109
—	JPMORGAN CHINA REGION FD INC	203,289	$2.911M	1.0%	$16.61	—	COM	48126T104
—	MORGAN STANLEY ASIA PAC FD I	224,189	$2.903M	1.0%	$15.70	—	COM	61744U106
—	JAPAN SMALLER CAPTLZTN FD IN	266,499	$2.71M	0.9%	$9.49	—	COM	47109U104
—	MEXICO EQUITY & INCOME FD	224,792	$2.473M	0.8%	$14.83	—	COM	592834105
—	CLOUGH GLOBAL OPPORTUNITIES	223,000	$2.386M	0.8%	$10.70	—	SH BEN INT	18914E106
—	ABERDEEN LATIN AMER EQTY FD	142,908	$2.312M	0.8%	$28.50	—	COM	00306K106
—	TEMPLETON DRAGON FD INC	114,025	$2.13M	0.7%	$23.44	—	COM	88018T101
—	ROYCE MICRO-CAP TR INC	273,396	$2.116M	0.7%	$7.90	—	COM	780915104
—	CENTRAL EUR RUSS & TURK FD I	114,297	$2.045M	0.7%	$27.46	—	COM	153436100
—	MARKET VECTORS ETF TR	122,000	$1.915M	0.7%	$14.63	—	RUSSIA ETF	57060U506
—	KOREA EQUITY FD INC	240,440	$1.724M	0.6%	$8.03	—	COM	50063B104
—	CLOUGH GLOBAL ALLOCATION FD	124,422	$1.626M	0.6%	$15.15	—	COM	18913Y103
—	TAIWAN FD INC	102,893	$1.489M	0.5%	$17.95	—	COM	874036106
—	EUROPEAN EQUITY FUND	183,623	$1.429M	0.5%	$7.16	—	COM	298768102
—	MACQUARIE GLBL INFRA TOTL RE	73,062	$1.408M	0.5%	$23.21	—	COM	55608D101
—	ABERDEEN ISRAEL FUND INC	83,552	$1.406M	0.5%	$14.89	—	COM	00301L109
—	BANRO CORP	8,294,250	$1.368M	0.5%	$0.58	—	COM	066800103
—	ABERDEEN CHILE FD INC	218,859	$1.309M	0.4%	$5.98	—	COM	00301W105
—	GLOBAL X FDS	130,000	$1.249M	0.4%	$9.61	—	FTSE GREECE 20	37950E366
—	TURKISH INVT FD INC	152,095	$1.217M	0.4%	$11.42	—	COM	900145103
EWZ	ISHARES	50,000	$1.098M	0.4%	$34.15	—	MSCI BRZ CAP ETF	464286400
—	NEW IRELAND FUND INC	76,132	$1.024M	0.3%	$13.64	—	COM	645673104
—	ELLSWORTH GROWTH & INCOME FD	109,957	$860K	0.3%	$7.66	—	COM	289074106
XXCHNXX	CHINA FD INC	49,510	$788K	0.3%	$20.14	—	COM	169373107
—	ABERDEEN INDONESIA FD INC	133,913	$702K	0.2%	$8.79	—	COM	00305P106
XFEOX	FIRST TR/ABERDEEN EMERG OPT	53,446	$698K	0.2%	$15.32	—	COM	33731K102
—	LATIN AMERN DISCOVERY FD INC	79,694	$627K	0.2%	$12.51	—	COM	51828C106
—	ASIA PAC FD INC	58,590	$603K	0.2%	$11.81	—	COM	044901106
—	SPDR SERIES TRUST	18,100	$594K	0.2%	$47.86	—	S&P OILGAS EXP	78464A730
—	TEMPLETON RUS AND EAST EUR F	58,032	$565K	0.2%	$9.49	—	COM	88022F105
—	ABERDEEN AUSTRALIA EQTY FD I	100,737	$540K	0.2%	$5.36	—	COM	003011103
—	ABERDEEN SINGAPORE FD INC	60,144	$520K	0.2%	$12.44	—	COM	003244100
—	ABERDEEN EMERGING MKTS SMALL	44,540	$477K	0.2%	$17.64	—	COM	00301T102
—	ABERDEEN GTR CHINA FD INC	56,027	$477K	0.2%	$8.51	—	COM	003031101
EFA	ISHARES TR	7,700	$441K	0.1%	$64.18	—	MSCI EAFE ETF	464287465
—	ADVENT CLAYMORE ENH GRW & IN	50,800	$417K	0.1%	$8.90	—	COM	00765E104
—	ALPINE GLOBAL PREMIER PPTYS	62,700	$350K	0.1%	$5.58	—	COM SBI	02083A103
—	ZWEIG FD	24,949	$320K	0.1%	$12.83	—	COM NEW	989834205
—	BANCROFT FUND LTD	15,791	$295K	0.1%	$20.96	—	COM	059695106
—	ADAM NAT RES FD INC	15,535	$282K	0.1%	$22.34	—	COM	00548F105
—	NEW GERMANY FD INC	19,269	$278K	0.1%	$14.43	—	COM	644465106
—	COHEN & STEERS INFRASTRUCTUR	6,140	$117K	0.0%	$23.14	—	COM	19248A109
—	GABELLI HLTHCARE & WELLNESS	11,741	$114K	0.0%	$9.71	—	SHS	36246K103
EZA	ISHARES	2,040	$110K	0.0%	$65.98	—	MSCI STH AFR ETF	464286780
—	ALPINE GLOBAL DYNAMIC DIVD F	11,200	$96,000	0.0%	$9.69	—	COM NEW	02082E205
—	SPROTT FOCUS TR INC	14,600	$86,000	0.0%	$5.89	—	COM	85208J109
—	CLOUGH GLOBAL EQUITY FD	6,600	$84,000	0.0%	$14.97	—	COM	18914C100
—	FIRST TR EXCH TRD ALPHA FD I	1,800	$54,000	0.0%	$38.00	—	TAIWAN ALPHADE	33737J257
—	GDL FUND	3,900	$38,000	0.0%	$10.34	—	COM SH BEN IT	361570104
—	RMR REAL ESTATE INCOME FUND	1,500	$27,000	0.0%	$18.69	—	COM	76970B101
EEM	ISHARES TR	800	$26,000	0.0%	$32.50	—	MSCI EMG MKT ETF	464287234
—	GABELLI GLOBL UTIL & INCOME	1,469	$24,000	0.0%	$19.81	—	COM SH BEN INT	36242L105
—	ASIA TIGERS FD INC	2,390	$22,000	0.0%	$11.22	—	COM	04516T105
—	ROYCE GLOBAL VALUE TR INC	3,100	$22,000	0.0%	$7.10	—	COM	78081T104
—	POWERSHARES QQQ TRUST	200	$20,000	0.0%	$103.45	—	UNIT SER 1	73935A104