1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES	10,972,132	$125,192	8.1%	$11.40	—	MSCI JAPAN ETF	464286848
—	ALPINE TOTAL DYNAMIC DIVID F	8,678,343	$65,088	4.2%	$8.10	—	COM SH BEN INT N	021060207
EWA	ISHARES	3,275,957	$63,291	4.1%	$23.72	—	MSCI AUST ETF	464286103
—	ALLIANCEBERNSTEIN INCOME FUN	7,235,498	$56,799	3.7%	$7.42	—	COM	01881E101
—	BLACKROCK GLOBAL OPP EQTY TR	4,057,369	$48,202	3.1%	$13.71	—	COM	092501105
EZU	ISHARES	1,312,130	$45,124	2.9%	$37.96	—	MSCI EURZONE ETF	464286608
—	BLACKROCK RES & COMM STRAT T	6,092,177	$43,925	2.8%	$10.29	—	SHS	09257A108
—	WESTERN ASSET CLYM INFL OPP	3,902,178	$43,158	2.8%	$11.69	—	COM	95766R104
EWG	ISHARES	1,650,500	$42,467	2.8%	$29.51	—	MSCI GERMANY ETF	464286806
—	SWISS HELVETIA FD INC	3,790,901	$38,591	2.5%	$12.22	—	COM	870875101
—	JAPAN SMALLER CAPTLZTN FD IN	3,948,880	$38,107	2.5%	$8.95	—	COM	47109U104
—	COHEN & STEERS INFRASTRUCTUR	1,533,356	$30,376	2.0%	$20.19	—	COM	19248A109
—	WESTERN ASSET CLYM INFL SEC	2,190,957	$24,955	1.6%	$11.57	—	COM SH BEN INT	95766Q106
—	PUTNAM PREMIER INCOME TR	5,181,065	$24,558	1.6%	$5.39	—	SH BEN INT	746853100
XFDEX	FIRST TR DYNAMIC EUROPE EQT	1,260,885	$21,032	1.4%	$16.87	—	COM SHS	33740D107
IEF	ISHARES TR	179,575	$19,814	1.3%	$108.63	—	7-10 Y TR BD ETF	464287440
—	BLACKROCK INCOME TR INC	2,929,280	$19,421	1.3%	$6.53	—	COM	09247F100
—	VOYA EMERGING MKTS HIGH DIVI	2,451,693	$18,954	1.2%	$8.90	—	COM	92912P108
—	CBRE CLARION GLOBAL REAL EST	2,384,142	$18,620	1.2%	$8.11	—	COM	12504G100
—	NUVEEN SELECT QUALITY MUN FD	1,243,977	$18,237	1.2%	$13.68	—	COM	670973106
XJEQX	ABERDEEN JAPAN EQUITY FD INC	2,471,446	$18,140	1.2%	$7.09	—	COM	00306J109
AGG	ISHARES TR	162,950	$18,059	1.2%	$110.50	—	CORE US AGGBD ET	464287226
—	NUVEEN MUN ADVANTAGE FD INC	1,254,149	$17,997	1.2%	$13.39	—	COM	67062H106
—	ABERDEEN ASIA PACIFIC INCOM	3,521,352	$17,607	1.1%	$5.41	—	COM	003009107
—	MORGAN STANLEY ASIA PAC FD I	1,238,264	$16,952	1.1%	$15.68	—	COM	61744U106
EWL	ISHARES	559,551	$16,635	1.1%	$30.51	—	MSCI SZ CAP ETF	464286749
—	KOREA FD	510,345	$16,586	1.1%	$34.46	—	COM NEW	500634209
—	MORGAN STANLEY TRUSTS	937,285	$16,412	1.1%	$17.21	—	INCOME SECS INC	61745P874
EFA	ISHARES TR	270,800	$15,479	1.0%	$64.10	—	MSCI EAFE ETF	464287465
—	MFS MULTIMARKET INCOME TR	2,649,196	$15,445	1.0%	$6.11	—	SH BEN INT	552737108
—	WESTERN ASSET GLOBAL CP DEFI	922,165	$15,207	1.0%	$17.99	—	COM	95790C107
—	BLACKROCK CORE BD TR	1,131,638	$15,153	1.0%	$13.20	—	SHS BEN INT	09249E101
—	NEW GERMANY FD INC	1,070,822	$15,088	1.0%	$17.60	—	COM	644465106
VGK	VANGUARD INTL EQUITY INDEX F	300,800	$14,595	0.9%	$58.34	—	FTSE EUROPE ETF	922042874
—	TEMPLETON EMERGING MKTS FD I	1,314,113	$14,219	0.9%	$14.82	—	COM	880191101
—	ALPINE GLOBAL PREMIER PPTYS	2,491,421	$13,927	0.9%	$5.85	—	COM SBI	02083A103
—	BLACKROCK CR ALLCTN INC TR	1,064,472	$13,327	0.9%	$13.04	—	COM	092508100
—	BLACKROCK INTL GRWTH & INC T	2,145,682	$12,702	0.8%	$7.62	—	COM BENE INTER	092524107
—	LAZARD GLB TTL RET&INCM FD I	1,014,860	$12,615	0.8%	$16.22	—	COM	52106W103
—	CLOUGH GLOBAL OPPORTUNITIES	1,311,950	$12,568	0.8%	$11.25	—	SH BEN INT	18914E106
—	MACQUARIE GLBL INFRA TOTL RE	605,443	$12,163	0.8%	$19.56	—	COM	55608D101
—	MFS CHARTER INCOME TR	1,459,120	$11,863	0.8%	$8.41	—	SH BEN INT	552727109
—	TEMPLETON DRAGON FD INC	674,058	$11,540	0.7%	$25.08	—	COM	88018T101
—	EATON VANCE MUN BD FD	824,069	$10,960	0.7%	$12.63	—	COM	27827X101
—	EATON VANCE LTD DUR INCOME F	824,756	$10,870	0.7%	$13.18	—	COM	27828H105
—	NUVEEN MUN MKT OPPORTUNITY F	751,300	$10,683	0.7%	$13.40	—	COM	67062W103
—	FORT DEARBORN INCOME SECS IN	734,742	$10,602	0.7%	$14.27	—	COM	347200107
XEGFX	BLACKROCK ENHANCED GOVT FD I	772,161	$10,471	0.7%	$14.11	—	COM	09255K108
—	ABERDEEN SINGAPORE FD INC	1,146,406	$10,306	0.7%	$11.42	—	COM	003244100
EWQ	ISHARES	425,012	$10,277	0.7%	$24.47	—	MSCI FRANCE ETF	464286707
—	EUROPEAN EQUITY FUND	1,303,434	$10,245	0.7%	$7.31	—	COM	298768102
—	FIRST TRUST MORTGAGE INCM FD	711,471	$10,224	0.7%	$15.54	—	COM SHS	33734E103
—	WESTERN ASSET INCOME FD	738,585	$10,037	0.7%	$13.23	—	COM	95766T100
—	TRI CONTL CORP	486,998	$9,720	0.6%	$17.94	—	COM	895436103
—	PUTNAM MASTER INTER INCOME T	2,138,031	$9,407	0.6%	$4.97	—	SH BEN INT	746909100
—	MORGAN STANLEY EMER MKTS FD	628,467	$8,289	0.5%	$14.29	—	COM	61744G107
—	ADAMS DIVERSIFIED EQUITY FD	627,977	$7,944	0.5%	$12.15	—	COM	006212104
—	DUFF & PHELPS UTIL CORP BD T	773,318	$7,439	0.5%	$9.55	—	COM	26432K108
—	FRANKLIN LTD DURATION INC TR	653,379	$7,409	0.5%	$11.37	—	COM	35472T101
—	CLOUGH GLOBAL EQUITY FD	675,803	$7,353	0.5%	$14.94	—	COM	18914C100
—	MORGAN STANLEY CHINA A SH FD	431,357	$7,299	0.5%	$32.11	—	COM	617468103
—	ABERDEEN LATIN AMER EQTY FD	399,544	$7,252	0.5%	$29.62	—	COM	00306K106
—	ABERDEEN ISRAEL FUND INC	423,516	$7,233	0.5%	$14.87	—	COM	00301L109
—	LEGG MASON BW GLB INC OPP FD	577,533	$7,133	0.5%	$17.24	—	COM	52469B100
—	ABERDEEN AUSTRALIA EQTY FD I	1,213,712	$6,748	0.4%	$5.46	—	COM	003011103
—	GENERAL AMERN INVS INC	215,778	$6,739	0.4%	$32.08	—	COM	368802104
—	CUTWATER SELECT INCOME FD	342,704	$6,559	0.4%	$18.68	—	COM	232229104
—	WESTERN ASSET EMRG MKT INCM	635,344	$6,519	0.4%	$10.80	—	COM	95766E103
—	HANCOCK JOHN INCOME SECS TR	465,513	$6,473	0.4%	$13.97	—	COM	410123103
—	LIBERTY ALL STAR EQUITY FD	1,288,442	$6,404	0.4%	$5.36	—	SH BEN INT	530158104
—	NEW IRELAND FUND INC	472,724	$6,138	0.4%	$11.77	—	COM	645673104
—	NUVEEN MULTI MKT INCOME FD	850,801	$6,134	0.4%	$7.38	—	COM	67075J107
—	THAI FD INC	777,252	$5,829	0.4%	$20.53	—	COM	882904105
—	CENTRAL EUR RUSS & TURK FD I	292,226	$5,470	0.4%	$28.81	—	COM	153436100
—	KOREA EQUITY FD INC	659,533	$5,243	0.3%	$7.82	—	COM	50063B104
XFEOX	FIRST TR/ABERDEEN EMERG OPT	369,107	$5,142	0.3%	$15.77	—	COM	33731K102
XXCHNXX	CHINA FD INC	341,090	$5,028	0.3%	$20.19	—	COM	169373107
—	TEMPLETON GLOBAL INCOME FD	742,622	$4,842	0.3%	$6.41	—	COM	880198106
—	TAIWAN FD INC	307,547	$4,779	0.3%	$16.04	—	COM	874036106
—	ABERDEEN INDONESIA FD INC	753,070	$4,488	0.3%	$10.85	—	COM	00305P106
—	BLACKROCK ENHANCED EQT DIV T	582,787	$4,394	0.3%	$7.80	—	COM	09251A104
—	INVESCO BD FD	232,854	$4,296	0.3%	$18.14	—	COM	46132L107
—	NUVEEN GLOBAL HIGH INCOME FD	307,325	$4,263	0.3%	$17.15	—	SHS	67075G103
—	JPMORGAN CHINA REGION FD INC	279,964	$4,138	0.3%	$16.19	—	COM	48126T104
—	MFS INTER INCOME TR	876,472	$4,041	0.3%	$4.58	—	SH BEN INT	55273C107
—	MEXICO EQUITY & INCOME FD	349,302	$3,916	0.3%	$14.47	—	COM	592834105
GOVT	ISHARES TR	147,400	$3,803	0.2%	$25.06	—	CORE US TR BD	46429B267
—	DUFF & PHELPS GLB UTL INC FD	233,303	$3,712	0.2%	$18.25	—	COM	26433C105
—	EATON VANCE SH TM DR DIVR IN	262,864	$3,507	0.2%	$13.39	—	COM	27828V104
—	ASIA PAC FD INC	357,329	$3,434	0.2%	$10.16	—	COM	044901106
—	WELLS FARGO GLOBAL DIVIDEND	534,350	$3,190	0.2%	$6.14	—	WF GLOBAL OPPTY	94987C103
—	ZWEIG FD	240,604	$3,099	0.2%	$13.81	—	COM NEW	989834205
MBB	ISHARES TR	25,836	$2,829	0.2%	$109.50	—	MBS ETF	464288588
—	FIRST TR ABERDEEN GLBL OPP F	246,440	$2,701	0.2%	$10.87	—	COM SHS	337319107
—	NEUBERGER BERMAN RE ES SEC F	525,355	$2,674	0.2%	$4.54	—	COM	64190A103
—	WELLS FARGO MULTI SECTOR INC	214,711	$2,624	0.2%	$13.46	—	WF MLT SECTR INC	94987D101
—	ABERDEEN CHILE FD INC	427,202	$2,567	0.2%	$6.41	—	COM	00301W105
—	ALLIANZGI EQUITY & CONV INCO	136,960	$2,491	0.2%	$19.91	—	COM	018829101
—	BLACKROCK UTIL & INFRASTRCTU	133,365	$2,470	0.2%	$17.93	—	COM	09248D104
—	MORGAN STANLEY EMER MKTS DEB	247,582	$2,174	0.1%	$9.64	—	COM	61744H105
—	SPROTT FOCUS TR INC	342,251	$2,084	0.1%	$6.55	—	COM	85208J109
—	CENTRAL SECS CORP	106,000	$2,029	0.1%	$21.07	—	COM	155123102
—	ADAM NAT RES FD INC	110,643	$1,990	0.1%	$23.15	—	COM	00548F105
—	ROYCE GLOBAL VALUE TR INC	268,527	$1,979	0.1%	$7.31	—	COM	78081T104
—	LMP CAP & INCOME FD INC	154,221	$1,908	0.1%	$12.22	—	COM	50208A102
—	NUVEEN GLOBAL EQUITY INCOME	172,169	$1,889	0.1%	$13.05	—	COM	6706EH103
—	GDL FUND	181,007	$1,816	0.1%	$10.86	—	COM SH BEN IT	361570104
—	ALPINE GLOBAL DYNAMIC DIVD F	209,376	$1,786	0.1%	$9.95	—	COM NEW	02082E205
—	ABERDEEN GTR CHINA FD INC	205,456	$1,705	0.1%	$9.75	—	COM	003031101
—	ROYCE VALUE TR INC	143,314	$1,678	0.1%	$14.05	—	COM	780910105
—	VOYA ASIA PAC DIVID EQUITY I	174,499	$1,612	0.1%	$9.05	—	COM	92912J102
—	ABERDEEN EMERGING MKTS SMALL	136,105	$1,583	0.1%	$11.00	—	COM	00301T102
—	LATIN AMERN DISCOVERY FD INC	179,255	$1,572	0.1%	$13.22	—	COM	51828C106
—	DELAWARE ENHANCED GBL DIV &	171,250	$1,567	0.1%	$10.77	—	COM	246060107
—	ASIA TIGERS FD INC	163,520	$1,488	0.1%	$10.30	—	COM	04516T105
XMUIX	BLACKROCK MUNI INTER DR FD I	94,900	$1,391	0.1%	$14.54	—	COM	09253X102
—	ELLSWORTH GROWTH & INCOME FD	181,925	$1,383	0.1%	$7.77	—	COM	289074106
—	CLOUGH GLOBAL ALLOCATION FD	111,331	$1,293	0.1%	$14.87	—	COM	18913Y103
—	GABELLI GLOBL UTIL & INCOME	71,746	$1,284	0.1%	$18.52	—	COM SH BEN INT	36242L105
—	EATON VANCE RISK MNGD DIV EQ	117,835	$1,117	0.1%	$10.95	—	COM	27829G106
—	ZWEIG TOTAL RETURN FD INC	89,336	$1,071	0.1%	$12.83	—	COM NEW	989837208
—	BLACKROCK MUNICIPL INC QLTY	69,461	$1,046	0.1%	$13.97	—	COM	092479104
—	MADISON STRTG SECTOR PREM FD	80,319	$904	0.1%	$11.88	—	COM	558268108
—	ADVENT CLAY CONV SEC INC FD	142,612	$774	0.1%	$6.14	—	COM	007639107
—	BANCROFT FUND LTD	43,069	$773	0.1%	$17.39	—	COM	059695106
—	COHEN & STEERS QUALITY RLTY	61,400	$762	0.0%	$12.19	—	COM	19247L106
—	NUVEEN DOW 30 DYN OVERWRITE	48,926	$690	0.0%	$14.10	—	SHS	67075F105
—	TEKLA WORLD HEALTHCARE FD	41,113	$577	0.0%	$14.03	—	BEN INT SHS	87911L108
—	CUSHING RENAISSANCE FD	37,228	$522	0.0%	$14.49	—	COM	231647108
—	FIRST TR DIVIDEND INCOME FD	55,872	$483	0.0%	$8.51	—	COM	33731L100
—	LIBERTY ALL-STAR GROWTH FD I	113,748	$461	0.0%	$5.21	—	COM	529900102
—	ISHARES TR	25,390	$398	0.0%	$19.17	—	MSCI UTD KNGDM	46434V548
—	GABELLI GLB SML & MD CP VAL	33,077	$349	0.0%	$10.27	—	COM	36249W104