1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES	10,286,732	$121,075	8.4%	$11.41	—	MSCI JAPAN ETF	464286848
VGK	VANGUARD INTL EQUITY INDEX F	1,392,900	$76,916	5.4%	$58.55	—	FTSE EUROPE ETF	922042874
EWA	ISHARES	3,036,546	$72,695	5.1%	$23.88	—	MSCI AUST ETF	464286103
—	ALLIANCEBERNSTEIN INCOME FUN	8,542,471	$64,069	4.5%	$7.36	—	COM	01881E101
—	SWISS HELVETIA FD INC	3,336,395	$45,141	3.1%	$12.36	—	COM	870875101
—	ISHARES TR	2,274,277	$44,075	3.1%	$19.38	—	MSCI UTD KNGDM	46434V548
—	WESTERN ASSET CLYM INFL OPP	3,792,054	$43,950	3.1%	$11.71	—	COM	95766R104
—	ALPINE TOTAL DYNAMIC DIVID F	4,075,085	$34,679	2.4%	$8.40	—	COM SH BEN INT N	021060207
—	BLACKROCK RES & COMM STRAT T	2,790,160	$31,333	2.2%	$11.58	—	SHS	09257A108
—	BLACKROCK GLOBAL OPP EQTY TR	2,199,114	$31,029	2.2%	$14.60	—	COM	092501105
—	JAPAN SMALLER CAPTLZTN FD IN	2,948,694	$28,573	2.0%	$8.74	—	COM	47109U104
EWQ	ISHARES	1,040,412	$27,623	1.9%	$24.47	—	MSCI FRANCE ETF	464286707
—	PUTNAM PREMIER INCOME TR	4,910,333	$26,909	1.9%	$5.42	—	SH BEN INT	746853100
—	MONTGOMERY STR INCOME SECS I	1,571,121	$25,641	1.8%	$15.89	—	COM	614115103
—	NEW GERMANY FD INC	1,533,232	$25,605	1.8%	$17.60	—	COM	644465106
EWG	ISHARES	873,400	$24,193	1.7%	$30.74	—	MSCI GERMANY ETF	464286806
—	MORGAN STANLEY ASIA PAC FD I	1,435,830	$23,433	1.6%	$15.68	—	COM	61744U106
—	BLACKROCK CR ALLCTN INC TR	1,549,159	$20,619	1.4%	$13.08	—	COM	092508100
—	KOREA FD	495,138	$20,553	1.4%	$34.55	—	COM NEW	500634209
—	BLACKROCK INCOME TR INC	3,195,348	$20,290	1.4%	$6.57	—	COM	09247F100
—	COHEN & STEERS INFRASTRUCTUR	875,723	$20,273	1.4%	$20.69	—	COM	19248A109
—	WESTERN ASSET CLYM INFL SEC	1,734,893	$20,021	1.4%	$11.72	—	COM SH BEN INT	95766Q106
—	TRANSAMERICA INCOME SHS INC	926,487	$18,891	1.3%	$20.76	—	COM	893506105
EFA	ISHARES TR	287,800	$18,454	1.3%	$67.17	—	MSCI EAFE ETF	464287465
—	LAZARD GLB TTL RET&INCM FD I	993,225	$17,252	1.2%	$16.34	—	COM	52106W103
—	BLACKROCK INCOME OPP TRUST I	1,656,996	$17,166	1.2%	$10.11	—	COM	092475102
—	BLACKROCK INTL GRWTH & INC T	2,202,342	$16,584	1.2%	$7.69	—	COM BENE INTER	092524107
—	MORGAN STANLEY TRUSTS	927,548	$16,557	1.2%	$17.18	—	INCOME SECS INC	61745P874
—	TEMPLETON DRAGON FD INC	635,796	$16,391	1.1%	$25.10	—	COM	88018T101
XJEQX	ABERDEEN JAPAN EQUITY FD INC	2,233,848	$15,883	1.1%	$7.11	—	COM	00306J109
—	WESTERN ASSET GLOBAL CP DEFI	813,488	$14,797	1.0%	$18.18	—	COM	95790C107
XEGFX	BLACKROCK ENHANCED GOVT FD I	1,044,782	$14,669	1.0%	$14.13	—	COM	09255K108
—	TRI CONTL CORP	694,114	$14,486	1.0%	$17.94	—	COM	895436103
—	BLACKROCK REAL ASSET EQUITY	1,620,423	$13,725	1.0%	$8.88	—	COM	09254B109
—	WESTERN ASSET INCOME FD	979,745	$13,119	0.9%	$13.23	—	COM	95766T100
—	PUTNAM MASTER INTER INCOME T	2,471,237	$12,430	0.9%	$5.02	—	SH BEN INT	746909100
—	ADAMS EXPRESS CO	824,800	$11,498	0.8%	$12.11	—	COM	006212104
—	FORT DEARBORN INCOME SECS IN	775,939	$11,228	0.8%	$14.27	—	COM	347200107
—	CUTWATER SELECT INCOME FD	535,426	$10,575	0.7%	$18.67	—	COM	232229104
—	CLOUGH GLOBAL EQUITY FD	734,345	$10,523	0.7%	$14.97	—	COM	18914C100
—	FIRST TRUST MORTGAGE INCM FD	685,568	$10,378	0.7%	$15.64	—	COM SHS	33734E103
—	ABERDEEN ASIA PACIFIC INCOM	1,695,208	$10,002	0.7%	$6.06	—	COM	003009107
—	GENERAL AMERN INVS INC	267,822	$9,925	0.7%	$32.13	—	COM	368802104
—	EUROPEAN EQUITY FUND	1,202,278	$9,871	0.7%	$7.16	—	COM	298768102
—	LIBERTY ALL STAR EQUITY FD	1,641,431	$9,570	0.7%	$5.33	—	SH BEN INT	530158104
—	ABERDEEN LATIN AMER EQTY FD	345,933	$9,458	0.7%	$31.32	—	COM	00306K106
—	THAI FD INC	754,935	$9,278	0.6%	$20.81	—	COM	882904105
—	LEGG MASON BW GLB INC OPP FD	546,314	$9,244	0.6%	$17.47	—	COM	52469B100
—	ABERDEEN SINGAPORE FD INC	733,656	$9,119	0.6%	$12.77	—	COM	003244100
—	CLOUGH GLOBAL OPPORTUNITIES	748,377	$8,928	0.6%	$12.85	—	SH BEN INT	18914E106
—	MORGAN STANLEY EMER MKTS FD	547,608	$8,471	0.6%	$14.40	—	COM	61744G107
—	CENTRAL EUR RUSS & TURK FD I	290,871	$7,222	0.5%	$29.85	—	COM	153436100
—	ABERDEEN ISRAEL FUND INC	394,743	$6,861	0.5%	$14.65	—	COM	00301L109
—	ABERDEEN INDONESIA FD INC	690,238	$6,571	0.5%	$11.29	—	COM	00305P106
—	INVESCO BD FD	350,420	$6,511	0.5%	$18.19	—	COM	46132L107
—	NUVEEN BUILD AMER BD OPPTNY	300,922	$6,380	0.4%	$19.98	—	COM	67074Q102
—	MFS INTERMARKET INCOME TRUST	761,185	$6,356	0.4%	$8.19	—	SH BEN INT	59318R103
—	BLACKROCK ENHANCED EQT DIV T	755,414	$6,194	0.4%	$7.83	—	COM	09251A104
—	MFS MULTIMARKET INCOME TR	945,764	$6,072	0.4%	$6.57	—	SH BEN INT	552737108
—	BLACKROCK ECOSOLUTIONS INVT	738,072	$5,645	0.4%	$8.05	—	COM SH	092546100
—	BLACKROCK UTIL & INFRASTRCTU	280,308	$5,609	0.4%	$18.04	—	COM	09248D104
—	MFS CHARTER INCOME TR	618,975	$5,484	0.4%	$9.06	—	SH BEN INT	552727109
—	PETROLEUM & RES CORP	188,011	$5,415	0.4%	$25.87	—	COM	716549100
—	NUVEEN DIVER CURRENCY OPPOR	480,509	$5,122	0.4%	$10.55	—	COM	67090N109
—	TEMPLETON EMERGING MKTS FD I	287,622	$5,102	0.4%	$17.63	—	COM	880191101
—	TAIWAN FD INC	268,974	$5,078	0.4%	$16.25	—	COM	874036106
—	MEXICO EQUITY & INCOME FD	284,079	$4,679	0.3%	$15.39	—	COM	592834105
—	NEW IRELAND FUND INC	366,904	$4,649	0.3%	$11.32	—	COM	645673104
—	BROOKFIELD GLOBL LISTED INFR	193,983	$4,520	0.3%	$21.92	—	COM SHS	11273Q109
—	ZWEIG FD	297,699	$4,519	0.3%	$13.74	—	COM NEW	989834205
—	NUVEEN GBL INCOME OPPORTUN F	355,792	$4,398	0.3%	$12.34	—	COM	67073C104
—	CBRE CLARION GLOBAL REAL EST	502,724	$4,213	0.3%	$8.35	—	COM	12504G100
—	EATON VANCE MUN BD FD	317,068	$3,970	0.3%	$12.52	—	COM	27827X101
XXCHNXX	CHINA FD INC	185,891	$3,870	0.3%	$20.53	—	COM	169373107
—	KOREA EQUITY FD INC	460,229	$3,806	0.3%	$7.85	—	COM	50063B104
—	VIRTUS GLOBAL MULTI-SEC INC	216,056	$3,688	0.3%	$17.42	—	COM	92829B101
—	ALLIANZGI EQUITY & CONV INCO	180,800	$3,592	0.2%	$19.88	—	COM	018829101
—	EATON VANCE RISK MNGD DIV EQ	306,961	$3,588	0.2%	$10.96	—	COM	27829G106
—	NEUBERGER BERMAN RE ES SEC F	730,898	$3,523	0.2%	$4.54	—	COM	64190A103
—	BLACKROCK MUNICIPL INC QLTY	249,283	$3,450	0.2%	$13.84	—	COM	092479104
—	NUVEEN SELECT QUALITY MUN FD	239,477	$3,274	0.2%	$13.67	—	COM	670973106
—	MFS GOVT MKTS INCOME TR	539,234	$3,074	0.2%	$5.71	—	SH BEN INT	552939100
—	CENTRAL SECS CORP	127,132	$2,921	0.2%	$21.11	—	COM	155123102
—	ASIA PAC FD INC	245,223	$2,766	0.2%	$10.13	—	COM	044901106
EWC	ISHARES	86,800	$2,664	0.2%	$26.23	—	MSCI CDA ETF	464286509
—	ELLSWORTH FUND LTD	307,637	$2,661	0.2%	$7.77	—	COM	289074106
—	MORGAN STANLEY EASTN EUR FD	168,302	$2,641	0.2%	$17.03	—	COM	616988101
—	JPMORGAN CHINA REGION FD INC	171,494	$2,608	0.2%	$15.04	—	COM	48126T104
—	MACQUARIE GLBL INFRA TOTL RE	103,468	$2,560	0.2%	$20.43	—	COM	55608D101
—	GABELLI DIVD & INCOME TR	114,839	$2,446	0.2%	$19.31	—	COM	36242H104
—	LATIN AMERN DISCOVERY FD INC	185,571	$2,435	0.2%	$13.47	—	COM	51828C106
—	BANCROFT FUND LTD	113,522	$2,243	0.2%	$17.39	—	COM	059695106
XFEOX	FIRST TR/ABERDEEN EMERG OPT	125,363	$2,230	0.2%	$18.07	—	COM	33731K102
—	NUVEEN GLOBAL EQUITY INCOME	154,396	$2,063	0.1%	$13.39	—	COM	6706EH103
—	INDIA FD INC	75,289	$2,043	0.1%	$19.17	—	COM	454089103
—	MORGAN STANLEY EMER MKTS DEB	205,220	$1,991	0.1%	$9.90	—	COM	61744H105
—	WELLS FARGO ADVANTAGE MULTI	141,425	$1,974	0.1%	$14.10	—	COM SHS	94987D101
—	NUVEEN MULTI MKT INCOME FD I	258,791	$1,954	0.1%	$7.55	—	COM	67075J107
—	NUVEEN MUN ADVANTAGE FD INC	136,632	$1,843	0.1%	$13.49	—	COM	67062H106
—	CLOUGH GLOBAL ALLOCATION FD	128,660	$1,841	0.1%	$14.95	—	COM	18913Y103
—	DUFF & PHELPS GLB UTL INC FD	83,405	$1,774	0.1%	$21.03	—	COM	26433C105
—	ROYCE VALUE TR INC	117,896	$1,709	0.1%	$15.16	—	COM	780910105
—	GDL FUND	157,752	$1,664	0.1%	$11.21	—	COM SH BEN IT	361570104
—	ZWEIG TOTAL RETURN FD INC	119,995	$1,662	0.1%	$12.86	—	COM NEW	989837208
—	WESTERN ASSET EMRG MKT INCM	135,164	$1,626	0.1%	$12.47	—	COM	95766E103
—	DEUTSCHE GLOBAL HIGH INCOME	189,929	$1,538	0.1%	$8.10	—	COM	25158V108
—	ABERDEEN GTR CHINA FD INC	139,244	$1,444	0.1%	$10.16	—	COM	003031101
—	NUVEEN MUN MKT OPPORTUNITY F	107,300	$1,423	0.1%	$13.26	—	COM	67062W103
—	TEMPLETON RUS AND EAST EUR F	111,364	$1,403	0.1%	$13.53	—	COM	88022F105
—	MADISON STRTG SECTOR PREM FD	87,707	$1,087	0.1%	$11.86	—	COM	558268108
—	HANCOCK JOHN INCOME SECS TR	73,953	$1,043	0.1%	$14.10	—	COM	410123103
—	TORTOISE ENERGY INDEPENDENC	41,820	$1,034	0.1%	$26.09	—	COM	89148K101
—	ASIA TIGERS FD INC	78,253	$928	0.1%	$11.47	—	COM	04516T105
—	ALPINE GLOBAL DYNAMIC DIVD F	82,032	$811	0.1%	$10.19	—	COM NEW	02082E205
—	ROYCE FOCUS TR	96,911	$763	0.1%	$7.45	—	COM	78080N108
—	WESTERN ASSET INVT GRADE DEF	37,335	$757	0.1%	$21.27	—	COM	95790A101
—	DUFF & PHELPS UTIL CORP BD T	70,205	$687	0.0%	$10.17	—	COM	26432K108
—	BLACKROCK BUILD AMER BD TR	30,749	$646	0.0%	$20.44	—	SHS	09248X100
—	NUVEEN BUILD AMER BD FD	30,500	$622	0.0%	$20.43	—	COM	67074C103
—	VOYA EMERGING MKTS HIGH DIVI	49,367	$583	0.0%	$12.76	—	COM	92912P108
—	GUGGENHEIM EQ WEIGHT ENHANC	28,615	$565	0.0%	$18.88	—	COM SH BEN INT	40167M106
—	EATON VANCE TAX MNGD GBL DV	51,502	$517	0.0%	$9.29	—	COM	27829F108
—	WELLS FARGO ADV GLB DIV OPP	59,606	$478	0.0%	$7.87	—	COM	94987C103
XMUIX	BLACKROCK MUNI INTER DR FD I	25,000	$362	0.0%	$14.48	—	COM	09253X102
—	GABELLI GLOBL UTIL & INCOME	11,000	$211	0.0%	$19.97	—	COM SH BEN INT	36242L105
—	GABELLI GLB SML & MD CP VAL	14,820	$152	0.0%	$10.73	—	COM	36249W104