1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES	10,669,532	$119,926	8.5%	$11.40	—	MSCI JAPAN ETF	464286848
VGK	VANGUARD INTL EQUITY INDEX F	1,442,400	$75,596	5.3%	$58.34	—	FTSE EUROPE ETF	922042874
EWA	ISHARES	3,214,057	$71,256	5.0%	$23.79	—	MSCI AUST ETF	464286103
—	ALLIANCEBERNSTEIN INCOME FUN	8,195,671	$61,222	4.3%	$7.36	—	COM	01881E101
—	ISHARES TR	2,691,460	$48,527	3.4%	$19.17	—	MSCI UTD KNGDM	46434V548
—	BLACKROCK RES & COMM STRAT T	4,914,216	$47,717	3.4%	$10.77	—	SHS	09257A108
—	WESTERN ASSET CLYM INFL OPP	4,046,654	$45,727	3.2%	$11.69	—	COM	95766R104
—	ALPINE TOTAL DYNAMIC DIVID F	4,597,180	$39,030	2.8%	$8.41	—	COM SH BEN INT N	021060207
—	SWISS HELVETIA FD INC	3,333,391	$37,134	2.6%	$12.36	—	COM	870875101
—	BLACKROCK GLOBAL OPP EQTY TR	2,645,458	$34,735	2.5%	$14.35	—	COM	092501105
—	JAPAN SMALLER CAPTLZTN FD IN	3,320,413	$29,784	2.1%	$8.77	—	COM	47109U104
EWG	ISHARES	1,071,200	$29,362	2.1%	$30.12	—	MSCI GERMANY ETF	464286806
—	MONTGOMERY STR INCOME SECS I	1,571,721	$25,836	1.8%	$15.89	—	COM	614115103
—	PUTNAM PREMIER INCOME TR	4,850,207	$25,464	1.8%	$5.42	—	SH BEN INT	746853100
—	BLACKROCK INCOME TR INC	3,524,136	$22,554	1.6%	$6.55	—	COM	09247F100
—	WESTERN ASSET CLYM INFL SEC	1,750,905	$20,310	1.4%	$11.72	—	COM SH BEN INT	95766Q106
—	NEW GERMANY FD INC	1,417,789	$19,900	1.4%	$17.60	—	COM	644465106
—	COHEN & STEERS INFRASTRUCTUR	867,678	$19,714	1.4%	$20.69	—	COM	19248A109
—	MORGAN STANLEY ASIA PAC FD I	1,309,194	$19,442	1.4%	$15.68	—	COM	61744U106
—	BLACKROCK CR ALLCTN INC TR	1,481,559	$19,142	1.4%	$13.08	—	COM	092508100
—	KOREA FD	501,215	$18,806	1.3%	$34.59	—	COM NEW	500634209
—	TRANSAMERICA INCOME SHS INC	926,487	$18,734	1.3%	$20.76	—	COM	893506105
—	BLACKROCK CORE BD TR	1,313,259	$17,335	1.2%	$13.20	—	SHS BEN INT	09249E101
—	MORGAN STANLEY TRUSTS	952,748	$17,083	1.2%	$17.20	—	INCOME SECS INC	61745P874
EWQ	ISHARES	688,712	$16,977	1.2%	$24.47	—	MSCI FRANCE ETF	464286707
XJEQX	ABERDEEN JAPAN EQUITY FD INC	2,445,774	$16,558	1.2%	$7.08	—	COM	00306J109
—	LAZARD GLB TTL RET&INCM FD I	984,239	$15,561	1.1%	$16.34	—	COM	52106W103
EFA	ISHARES TR	251,400	$15,295	1.1%	$67.17	—	MSCI EAFE ETF	464287465
—	TEMPLETON DRAGON FD INC	630,696	$15,162	1.1%	$25.10	—	COM	88018T101
—	TRI CONTL CORP	694,114	$14,861	1.0%	$17.94	—	COM	895436103
—	WESTERN ASSET GLOBAL CP DEFI	829,688	$14,752	1.0%	$18.17	—	COM	95790C107
—	BLACKROCK INTL GRWTH & INC T	2,186,034	$14,734	1.0%	$7.69	—	COM BENE INTER	092524107
—	WESTERN ASSET INCOME FD	984,745	$13,245	0.9%	$13.23	—	COM	95766T100
XEGFX	BLACKROCK ENHANCED GOVT FD I	871,803	$12,432	0.9%	$14.13	—	COM	09255K108
—	PUTNAM MASTER INTER INCOME T	2,431,576	$11,696	0.8%	$5.02	—	SH BEN INT	746909100
—	ADAMS EXPRESS CO	847,500	$11,594	0.8%	$12.15	—	COM	006212104
—	FORT DEARBORN INCOME SECS IN	799,205	$11,301	0.8%	$14.27	—	COM	347200107
—	EUROPEAN EQUITY FUND	1,313,922	$10,814	0.8%	$7.25	—	COM	298768102
—	ABERDEEN ASIA PACIFIC INCOM	1,935,808	$10,744	0.8%	$6.00	—	COM	003009107
—	CLOUGH GLOBAL EQUITY FD	724,945	$10,497	0.7%	$14.97	—	COM	18914C100
—	CLOUGH GLOBAL OPPORTUNITIES	814,376	$10,440	0.7%	$12.85	—	SH BEN INT	18914E106
—	FIRST TRUST MORTGAGE INCM FD	692,768	$10,295	0.7%	$15.63	—	COM SHS	33734E103
—	LIBERTY ALL STAR EQUITY FD	1,721,431	$10,294	0.7%	$5.36	—	SH BEN INT	530158104
—	GENERAL AMERN INVS INC	273,972	$9,589	0.7%	$32.19	—	COM	368802104
—	LEGG MASON BW GLB INC OPP FD	554,814	$9,271	0.7%	$17.46	—	COM	52469B100
—	NUVEEN GLOBAL HIGH INCOME FD	519,982	$8,970	0.6%	$17.25	—	SHS	67075G103
—	THAI FD INC	757,935	$8,935	0.6%	$20.81	—	COM	882904105
—	ABERDEEN SINGAPORE FD INC	738,156	$8,799	0.6%	$12.77	—	COM	003244100
—	TEMPLETON EMERGING MKTS FD I	549,802	$8,478	0.6%	$16.57	—	COM	880191101
—	CUTWATER SELECT INCOME FD	417,896	$8,082	0.6%	$18.67	—	COM	232229104
—	ABERDEEN LATIN AMER EQTY FD	350,988	$7,925	0.6%	$31.19	—	COM	00306K106
—	MORGAN STANLEY EMER MKTS FD	544,107	$7,917	0.6%	$14.40	—	COM	61744G107
—	NUVEEN MUN ADVANTAGE FD INC	509,419	$6,959	0.5%	$13.61	—	COM	67062H106
—	INVESCO BD FD	373,101	$6,865	0.5%	$18.20	—	COM	46132L107
—	NUVEEN BUILD AMER BD OPPTNY	301,322	$6,614	0.5%	$19.98	—	COM	67074Q102
—	ABERDEEN ISRAEL FUND INC	394,434	$6,548	0.5%	$14.65	—	COM	00301L109
—	CBRE CLARION GLOBAL REAL EST	713,813	$6,417	0.5%	$8.54	—	COM	12504G100
—	MFS MULTIMARKET INCOME TR	964,464	$6,269	0.4%	$6.57	—	SH BEN INT	552737108
—	BLACKROCK ENHANCED EQT DIV T	755,414	$6,134	0.4%	$7.83	—	COM	09251A104
—	NUVEEN SELECT QUALITY MUN FD	428,615	$5,983	0.4%	$13.80	—	COM	670973106
—	CENTRAL EUR RUSS & TURK FD I	297,834	$5,891	0.4%	$29.62	—	COM	153436100
—	ABERDEEN INDONESIA FD INC	690,238	$5,805	0.4%	$11.29	—	COM	00305P106
—	MFS CHARTER INCOME TR	628,775	$5,778	0.4%	$9.06	—	SH BEN INT	552727109
—	EATON VANCE MUN BD FD	396,469	$5,087	0.4%	$12.58	—	COM	27827X101
—	NUVEEN MUN MKT OPPORTUNITY F	369,700	$5,039	0.4%	$13.52	—	COM	67062W103
—	VOYA EMERGING MKTS HIGH DIVI	478,537	$4,958	0.4%	$10.61	—	COM	92912P108
—	NEW IRELAND FUND INC	384,862	$4,857	0.3%	$11.38	—	COM	645673104
—	BLACKROCK MUNICIPL INC QLTY	327,781	$4,713	0.3%	$13.97	—	COM	092479104
—	ZWEIG FD	298,899	$4,621	0.3%	$13.74	—	COM NEW	989834205
—	PETROLEUM & RES CORP	188,011	$4,482	0.3%	$25.87	—	COM	716549100
—	TAIWAN FD INC	267,674	$4,376	0.3%	$16.25	—	COM	874036106
—	BLACKROCK UTIL & INFRASTRCTU	197,864	$4,104	0.3%	$18.04	—	COM	09248D104
—	ALLIANZGI EQUITY & CONV INCO	187,800	$3,884	0.3%	$19.91	—	COM	018829101
—	NEUBERGER BERMAN RE ES SEC F	730,898	$3,866	0.3%	$4.54	—	COM	64190A103
—	KOREA EQUITY FD INC	460,829	$3,548	0.3%	$7.85	—	COM	50063B104
—	MEXICO EQUITY & INCOME FD	278,679	$3,514	0.2%	$15.39	—	COM	592834105
—	VIRTUS GLOBAL MULTI-SEC INC	219,256	$3,475	0.2%	$17.39	—	COM	92829B101
XXCHNXX	CHINA FD INC	184,917	$3,371	0.2%	$20.53	—	COM	169373107
XFEOX	FIRST TR/ABERDEEN EMERG OPT	202,033	$3,323	0.2%	$17.45	—	COM	33731K102
—	ASIA PAC FD INC	267,204	$3,014	0.2%	$10.23	—	COM	044901106
—	JPMORGAN CHINA REGION FD INC	177,125	$2,995	0.2%	$15.10	—	COM	48126T104
—	NUVEEN MULTI MKT INCOME FD	383,644	$2,943	0.2%	$7.59	—	COM	67075J107
—	CENTRAL SECS CORP	127,132	$2,793	0.2%	$21.11	—	COM	155123102
—	NUVEEN GLOBAL EQUITY INCOME	207,823	$2,704	0.2%	$13.29	—	COM	6706EH103
—	ELLSWORTH FUND LTD	307,637	$2,680	0.2%	$7.77	—	COM	289074106
—	MFS INTERMARKET INCOME TRUST	312,537	$2,607	0.2%	$8.19	—	SH BEN INT	59318R103
—	ALPINE GLOBAL DYNAMIC DIVD F	253,442	$2,494	0.2%	$9.95	—	COM NEW	02082E205
—	MFS GOVT MKTS INCOME TR	432,965	$2,455	0.2%	$5.71	—	SH BEN INT	552939100
—	GDL FUND	235,399	$2,408	0.2%	$10.88	—	COM SH BEN IT	361570104
—	MORGAN STANLEY EASTN EUR FD	172,102	$2,377	0.2%	$16.96	—	COM	616988101
—	CLOUGH GLOBAL ALLOCATION FD	156,790	$2,316	0.2%	$14.92	—	COM	18913Y103
—	BANCROFT FUND LTD	113,522	$2,277	0.2%	$17.39	—	COM	059695106
EWC	ISHARES	76,800	$2,216	0.2%	$26.23	—	MSCI CDA ETF	464286509
—	MACQUARIE GLBL INFRA TOTL RE	86,540	$2,139	0.2%	$20.43	—	COM	55608D101
—	EATON VANCE RISK MNGD DIV EQ	199,160	$2,123	0.1%	$10.96	—	COM	27829G106
—	LATIN AMERN DISCOVERY FD INC	185,571	$2,069	0.1%	$13.47	—	COM	51828C106
—	MORGAN STANLEY EMER MKTS DEB	212,520	$1,932	0.1%	$9.87	—	COM	61744H105
—	WELLS FARGO ADVANTAGE MULTI	141,425	$1,928	0.1%	$14.10	—	COM SHS	94987D101
—	DUFF & PHELPS GLB UTL INC FD	82,703	$1,790	0.1%	$21.03	—	COM	26433C105
—	ZWEIG TOTAL RETURN FD INC	119,995	$1,681	0.1%	$12.86	—	COM NEW	989837208
—	ROYCE VALUE TR INC	110,896	$1,589	0.1%	$15.16	—	COM	780910105
—	HANCOCK JOHN INCOME SECS TR	110,776	$1,583	0.1%	$14.17	—	COM	410123103
—	DEUTSCHE GLOBAL HIGH INCOME	189,929	$1,489	0.1%	$8.10	—	COM	25158V108
—	WESTERN ASSET EMRG MKT INCM	135,164	$1,480	0.1%	$12.47	—	COM	95766E103
—	ABERDEEN GTR CHINA FD INC	137,004	$1,360	0.1%	$10.16	—	COM	003031101
—	DELAWARE ENHANCED GBL DIV &	102,001	$1,150	0.1%	$11.27	—	COM	246060107
—	MADISON STRTG SECTOR PREM FD	87,707	$1,041	0.1%	$11.86	—	COM	558268108
—	COHEN & STEERS QUALITY RLTY	85,100	$1,037	0.1%	$12.19	—	COM	19247L106
—	BROOKFIELD GLOBL LISTED INFR	48,081	$1,004	0.1%	$21.92	—	COM SHS	11273Q109
—	TEMPLETON RUS AND EAST EUR F	111,364	$1,002	0.1%	$13.53	—	COM	88022F105
—	ASIA TIGERS FD INC	78,253	$877	0.1%	$11.47	—	COM	04516T105
—	DUFF & PHELPS UTIL CORP BD T	87,205	$855	0.1%	$10.10	—	COM	26432K108
—	TORTOISE ENERGY INDEPENDENC	41,820	$792	0.1%	$26.09	—	COM	89148K101
—	NUVEEN BUILD AMER BD FD	36,500	$773	0.1%	$20.55	—	COM	67074C103
—	ROYCE FOCUS TR	96,911	$705	0.0%	$7.45	—	COM	78080N108
—	BLACKROCK BUILD AMER BD TR	30,749	$681	0.0%	$20.44	—	SHS	09248X100
XMUIX	BLACKROCK MUNI INTER DR FD I	44,000	$634	0.0%	$14.45	—	COM	09253X102
—	WELLS FARGO ADV GLB DIV OPP	59,606	$446	0.0%	$7.87	—	COM	94987C103
—	SOURCE CAP INC	4,755	$340	0.0%	$71.50	—	COM	836144105
—	GABELLI GLOBL UTIL & INCOME	15,585	$303	0.0%	$19.82	—	COM SH BEN INT	36242L105
—	INDIA FD INC	10,858	$280	0.0%	$19.17	—	COM	454089103
—	ALPINE GLOBAL PREMIER PPTYS	27,000	$195	0.0%	$7.22	—	COM SBI	02083A103
—	GABELLI GLB SML & MD CP VAL	14,820	$155	0.0%	$10.73	—	COM	36249W104
—	FIRST TR DIVIDEND INCOME FD	15,000	$139	0.0%	$9.27	—	COM	33731L100