Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ACWI	ISHARES TR	380,000	$22.46M	7.8%	$59.10	—	MSCI ACWI ETF	464288257
—	ADAMS DIVERSIFIED EQUITY FD	1,664,244	$21.89M	7.6%	$11.96	—	COM	006212104
—	LIBERTY ALL STAR EQUITY FD	4,160,237	$21.55M	7.5%	$5.15	—	SH BEN INT	530158104
—	GENERAL AMERN INVS INC	639,816	$20.89M	7.3%	$31.91	—	COM	368802104
—	TRI CONTL CORP	970,514	$20.75M	7.2%	$17.90	—	COM	895436103
—	ROYCE VALUE TR INC	1,582,451	$20.03M	7.0%	$13.01	—	COM	780910105
—	POWERSHARES QQQ TRUST	140,000	$16.62M	5.8%	$118.72	—	UNIT SER 1	73935A104
YPF	YPF SOCIEDAD ANONIMA	855,264	$15.58M	5.4%	$19.52	—	SPON ADR CL D	984245100
—	CENTRAL SECS CORP	731,422	$15.54M	5.4%	$20.78	—	COM	155123102
—	BOULDER GROWTH & INCOME FD I	1,474,815	$12.36M	4.3%	$8.14	—	COM	101507101
BAK	BRASKEM S A	794,036	$12.21M	4.2%	$15.38	—	SP ADR PFD A	105532105
SPY	SPDR S&P 500 ETF TR	51,800	$11.2M	3.9%	$211.99	—	TR UNIT	78462F103
EFA	ISHARES TR	150,000	$8.87M	3.1%	$59.13	—	MSCI EAFE ETF	464287465
—	ROYCE MICRO-CAP TR INC	654,140	$5.109M	1.8%	$7.43	—	COM	780915104
—	THAI FD INC	586,915	$4.801M	1.7%	$16.44	—	COM	882904105
—	KOREA FD	131,041	$4.717M	1.6%	$36.93	—	COM	500634209
—	ABERDEEN LATIN AMER EQTY FD	175,056	$3.72M	1.3%	$25.77	—	COM	00306K106
—	MORGAN STANLEY ASIA PAC FD I	231,089	$3.486M	1.2%	$15.68	—	COM	61744U106
—	MORGAN STANLEY CHINA A SH FD	168,141	$3.144M	1.1%	$29.28	—	COM	617468103
XJEQX	ABERDEEN JAPAN EQUITY FD INC	367,208	$3.018M	1.0%	$7.11	—	COM	00306J109
—	SWISS HELVETIA FD INC	264,503	$2.828M	1.0%	$11.92	—	COM	870875101
—	BANRO CORP	8,294,250	$2.655M	0.9%	$0.58	—	COM	066800103
—	VANECK VECTORS ETF TR	122,000	$2.289M	0.8%	$17.42	—	RUSSIA ETF	92189F403
—	JAPAN SMALLER CAPTLZTN FD IN	214,941	$2.268M	0.8%	$9.59	—	COM	47109U104
—	TAIWAN FD INC	116,793	$2.022M	0.7%	$17.73	—	COM	874036106
—	JPMORGAN CHINA REGION FD INC	116,178	$2.002M	0.7%	$16.50	—	COM	48126T104
—	ABERDEEN SINGAPORE FD INC	212,156	$1.988M	0.7%	$9.85	—	COM	003244100
—	KOREA EQUITY FD INC	228,456	$1.957M	0.7%	$8.03	—	COM	50063B104
PAG	PENSKE AUTOMOTIVE GRP INC	37,215	$1.793M	0.6%	$35.60	+16.9%	COM	70959W103
—	MEXICO EQUITY & INCOME FD	164,447	$1.702M	0.6%	$14.22	—	COM	592834105
—	CENTRAL EUR RUSS & TURK FD I	81,002	$1.555M	0.5%	$26.72	—	COM	153436100
—	ALPINE TOTAL DYNAMIC DIVID F	200,938	$1.533M	0.5%	$8.17	—	COM SH BEN INT N	021060207
—	ABERDEEN ISRAEL FUND INC	78,677	$1.299M	0.5%	$14.89	—	COM	00301L109
EDC	DIREXION SHS ETF TR	20,000	$1.296M	0.5%	$64.80	—	DLY EMG MK BL 3X	25490K281
—	MEXICO FD INC	78,283	$1.249M	0.4%	$17.42	—	COM	592835102
XXCHNXX	CHINA FD INC	66,194	$1.088M	0.4%	$16.78	—	COM	169373107
—	ABERDEEN INDONESIA FD INC	144,613	$957K	0.3%	$8.54	—	COM	00305P106
—	TURKISH INVT FD INC	108,646	$874K	0.3%	$11.42	—	COM	900145103
UBR	PROSHARES TR	14,000	$832K	0.3%	$56.99	—	ULTRA MSCI BRAZI	74347B490
—	STONE HBR EMERG MKTS TL INC	55,500	$818K	0.3%	$11.74	—	COM	86164W100
EZA	ISHARES	14,140	$793K	0.3%	$53.54	—	MSCI STH AFR ETF	464286780
—	GLOBAL X FDS	100,000	$718K	0.2%	$9.26	—	MSCI GREECE ETF	37950E366
—	ASIA PAC FD INC	64,890	$686K	0.2%	$11.61	—	COM	044901106
—	TEMPLETON DRAGON FD INC	35,307	$622K	0.2%	$23.44	—	COM	88018T101
—	EUROPEAN EQUITY FUND	78,051	$617K	0.2%	$7.16	—	COM	298768102
—	VALEANT PHARMACEUTICALS INTL	25,000	$614K	0.2%	$24.56	—	COM	91911K102
—	ABERDEEN EMERGING MKTS SMALL	44,540	$563K	0.2%	$15.93	—	COM	00301T102
—	MORGAN STANLEY INDIA INVS FD	19,001	$540K	0.2%	$15.40	—	COM	61745C105
—	ABERDEEN CHILE FD INC	80,077	$502K	0.2%	$5.98	—	COM SH BEN INT N	00301W105
—	ABERDEEN GTR CHINA FD INC	44,665	$406K	0.1%	$8.52	—	COM	003031101
—	INDIA FD INC	10,400	$259K	0.1%	$22.69	—	COM	454089103
—	LATIN AMERN DISCOVERY FD INC	22,233	$224K	0.1%	$12.51	—	COM	51828C106
—	MACQUARIE GLBL INFRA TOTL RE	8,881	$194K	0.1%	$23.03	—	COM	55608D101
—	HERZFELD CARIBBEAN BASIN FD	26,969	$169K	0.1%	$6.27	—	COM	42804T106
—	ALPINE GLOBAL DYNAMIC DIVD F	5,000	$44,000	0.0%	$9.69	—	COM	02082E205
—	ASIA TIGERS FD INC	2,390	$24,000	0.0%	$11.22	—	COM	04516T105