1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ISHARES	10,849,532	$124,770	8.5%	$11.40	—	MSCI JAPAN ETF	464286848
—	ALPINE TOTAL DYNAMIC DIVID F	8,729,405	$63,375	4.3%	$8.10	—	COM SH BEN INT N	021060207
EWA	ISHARES	3,109,757	$60,485	4.1%	$23.72	—	MSCI AUST ETF	464286103
EWG	ISHARES	2,107,283	$50,680	3.5%	$28.33	—	MSCI GERMANY ETF	464286806
—	BLACKROCK GLOBAL OPP EQTY TR	4,039,902	$47,873	3.3%	$13.71	—	COM	092501105
—	BLACKROCK RES & COMM STRAT T	6,120,483	$47,128	3.2%	$10.29	—	SHS	09257A108
EZU	ISHARES	1,319,230	$42,572	2.9%	$37.96	—	MSCI EURZONE ETF	464286608
—	JAPAN SMALLER CAPTLZTN FD IN	4,199,234	$41,069	2.8%	$9.00	—	COM	47109U104
—	WESTERN ASSET CLYM INFL OPP	3,690,289	$40,999	2.8%	$11.69	—	COM	95766R104
—	SWISS HELVETIA FD INC	3,817,501	$39,511	2.7%	$12.22	—	COM	870875101
AGG	ISHARES TR	349,200	$39,325	2.7%	$111.63	—	CORE US AGGBD ET	464287226
—	COHEN & STEERS INFRASTRUCTUR	1,529,874	$32,770	2.2%	$20.19	—	COM	19248A109
IEF	ISHARES TR	284,150	$32,095	2.2%	$110.22	—	7-10 Y TR BD ETF	464287440
XFDEX	FIRST TR DYNAMIC EUROPE EQT	1,532,280	$24,486	1.7%	$16.71	—	COM SHS	33740D107
—	PUTNAM PREMIER INCOME TR	5,116,564	$24,048	1.6%	$5.39	—	SH BEN INT	746853100
—	WESTERN ASSET CLYM INFL SEC	2,065,443	$23,711	1.6%	$11.57	—	COM SH BEN INT	95766Q106
—	CBRE CLARION GLOBAL REAL EST	2,391,432	$19,681	1.3%	$8.11	—	COM	12504G100
XJEQX	ABERDEEN JAPAN EQUITY FD INC	2,495,725	$19,142	1.3%	$7.09	—	COM	00306J109
—	NUVEEN SELECT QUALITY MUN FD	1,230,396	$19,096	1.3%	$13.68	—	COM	670973106
—	NUVEEN ENHANCED MUN CREDIT O	1,179,446	$18,777	1.3%	$15.92	—	COM SH BEN INT	67070X101
—	VOYA EMERGING MKTS HIGH DIVI	2,449,093	$18,001	1.2%	$8.90	—	COM	92912P108
—	ABERDEEN ASIA PACIFIC INCOM	3,451,640	$17,293	1.2%	$5.41	—	COM	003009107
—	BLACKROCK INCOME TR INC	2,593,023	$17,192	1.2%	$6.53	—	COM	09247F100
—	MORGAN STANLEY ASIA PAC FD I	1,231,194	$16,966	1.2%	$15.68	—	COM	61744U106
EWL	ISHARES	565,351	$16,763	1.1%	$30.50	—	MSCI SZ CAP ETF	464286749
—	KOREA FD	508,945	$16,454	1.1%	$34.46	—	COM NEW	500634209
—	MORGAN STANLEY TRUSTS	890,185	$16,335	1.1%	$17.21	—	INCOME SECS INC	61745P874
—	MFS MULTIMARKET INCOME TR	2,614,096	$15,815	1.1%	$6.11	—	SH BEN INT	552737108
—	WESTERN ASSET GLOBAL CP DEFI	913,668	$15,569	1.1%	$17.99	—	COM	95790C107
—	TEMPLETON EMERGING MKTS FD I	1,319,111	$15,025	1.0%	$14.82	—	COM	880191101
—	NEW GERMANY FD INC	1,104,882	$14,673	1.0%	$17.47	—	COM	644465106
—	ALPINE GLOBAL PREMIER PPTYS	2,485,921	$13,648	0.9%	$5.85	—	COM SBI	02083A103
—	LAZARD GLB TTL RET&INCM FD I	1,009,980	$13,213	0.9%	$16.22	—	COM	52106W103
—	MACQUARIE GLBL INFRA TOTL RE	609,401	$13,041	0.9%	$19.56	—	COM	55608D101
—	ABERDEEN SINGAPORE FD INC	1,361,772	$12,310	0.8%	$11.05	—	COM	003244100
—	BLACKROCK INTL GRWTH & INC T	2,139,282	$12,301	0.8%	$7.62	—	COM BENE INTER	092524107
—	MFS CHARTER INCOME TR	1,450,840	$12,289	0.8%	$8.41	—	SH BEN INT	552727109
—	CLOUGH GLOBAL OPPORTUNITIES	1,270,950	$11,858	0.8%	$11.25	—	SH BEN INT	18914E106
—	TEMPLETON DRAGON FD INC	676,919	$11,730	0.8%	$25.08	—	COM	88018T101
—	EATON VANCE MUN BD FD	821,510	$11,641	0.8%	$12.63	—	COM	27827X101
—	EATON VANCE LTD DUR INCOME F	834,256	$11,212	0.8%	$13.18	—	COM	27828H105
XEGFX	BLACKROCK ENHANCED GOVT FD I	782,956	$10,734	0.7%	$14.10	—	COM	09255K108
—	NUVEEN MUN MKT OPPORTUNITY F	700,252	$10,560	0.7%	$13.40	—	COM	67062W103
—	FIRST TRUST MORTGAGE INCM FD	715,708	$10,348	0.7%	$15.54	—	COM SHS	33734E103
—	EUROPEAN EQUITY FUND	1,300,834	$10,081	0.7%	$7.31	—	COM	298768102
—	TRI CONTL CORP	474,198	$9,740	0.7%	$17.94	—	COM	895436103
EWQ	ISHARES	423,512	$9,686	0.7%	$24.47	—	MSCI FRANCE ETF	464286707
—	BLACKROCK CORE BD TR	672,370	$9,393	0.6%	$13.20	—	SHS BEN INT	09249E101
—	PUTNAM MASTER INTER INCOME T	2,076,131	$8,990	0.6%	$4.97	—	SH BEN INT	746909100
EFA	ISHARES TR	156,398	$8,730	0.6%	$64.10	—	MSCI EAFE ETF	464287465
—	ADAMS DIVERSIFIED EQUITY FD	670,192	$8,491	0.6%	$12.19	—	COM	006212104
—	MORGAN STANLEY EMER MKTS FD	630,667	$8,375	0.6%	$14.29	—	COM	61744G107
—	ABERDEEN LATIN AMER EQTY FD	404,344	$8,135	0.6%	$29.50	—	COM	00306K106
—	MORGAN STANLEY CHINA A SH FD	433,757	$7,747	0.5%	$32.11	—	COM	617468103
—	LEGG MASON BW GLB INC OPP FD	586,007	$7,595	0.5%	$17.17	—	COM	52469B100
—	LIBERTY ALL STAR EQUITY FD	1,501,664	$7,538	0.5%	$5.31	—	SH BEN INT	530158104
—	DUFF & PHELPS UTIL CORP BD T	774,266	$7,534	0.5%	$9.55	—	COM	26432K108
—	FRANKLIN LTD DURATION INC TR	639,868	$7,422	0.5%	$11.37	—	COM	35472T101
—	CLOUGH GLOBAL EQUITY FD	683,123	$7,316	0.5%	$14.90	—	COM	18914C100
—	GENERAL AMERN INVS INC	232,378	$7,162	0.5%	$31.99	—	COM	368802104
—	ABERDEEN ISRAEL FUND INC	422,386	$6,990	0.5%	$14.87	—	COM	00301L109
—	WESTERN ASSET EMRG MKT INCM	630,544	$6,835	0.5%	$10.80	—	COM	95766E103
—	ABERDEEN AUSTRALIA EQTY FD I	1,180,013	$6,655	0.5%	$5.46	—	COM	003011103
—	HANCOCK JOHN INCOME SECS TR	454,313	$6,583	0.4%	$13.97	—	COM	410123103
—	THAI FD INC	780,136	$6,171	0.4%	$20.53	—	COM	882904105
—	NUVEEN MULTI MKT INCOME FD	794,472	$5,943	0.4%	$7.38	—	COM	67075J107
—	NEW IRELAND FUND INC	461,441	$5,468	0.4%	$11.77	—	COM	645673104
XFEOX	FIRST TR/ABERDEEN EMERG OPT	367,007	$5,402	0.4%	$15.77	—	COM	33731K102
—	CENTRAL EUR RUSS & TURK FD I	292,126	$5,352	0.4%	$28.81	—	COM	153436100
—	KOREA EQUITY FD INC	662,433	$5,207	0.4%	$7.82	—	COM	50063B104
—	TAIWAN FD INC	334,432	$5,100	0.3%	$15.98	—	COM	874036106
XXCHNXX	CHINA FD INC	340,790	$4,928	0.3%	$20.19	—	COM	169373107
—	ABERDEEN INDONESIA FD INC	760,270	$4,691	0.3%	$10.85	—	COM	00305P106
—	TEMPLETON GLOBAL INCOME FD	736,355	$4,683	0.3%	$6.41	—	COM	880198106
—	BLACKROCK ENHANCED EQT DIV T	569,587	$4,488	0.3%	$7.80	—	COM	09251A104
—	NUVEEN GLOBAL HIGH INCOME FD	303,487	$4,367	0.3%	$17.15	—	SHS	67075G103
—	JPMORGAN CHINA REGION FD INC	279,964	$4,255	0.3%	$16.19	—	COM	48126T104
—	MFS INTER INCOME TR	876,566	$4,067	0.3%	$4.58	—	SH BEN INT	55273C107
GOVT	ISHARES TR	146,800	$3,852	0.3%	$25.06	—	CORE US TR BD	46429B267
—	WELLS FARGO GLOBAL DIVIDEND	642,495	$3,836	0.3%	$6.11	—	WF GLOBAL OPPTY	94987C103
—	MEXICO EQUITY & INCOME FD	349,302	$3,804	0.3%	$14.47	—	COM	592834105
—	ASIA PAC FD INC	367,335	$3,583	0.2%	$10.15	—	COM	044901106
—	EATON VANCE SH TM DR DIVR IN	260,364	$3,515	0.2%	$13.39	—	COM	27828V104
—	CENTRAL SECS CORP	171,750	$3,373	0.2%	$20.53	—	COM	155123102
MBB	ISHARES TR	27,036	$2,973	0.2%	$109.52	—	MBS ETF	464288588
—	NEUBERGER BERMAN RE ES SEC F	513,055	$2,914	0.2%	$4.54	—	COM	64190A103
—	FIRST TR ABERDEEN GLBL OPP F	246,090	$2,815	0.2%	$10.87	—	COM SHS	337319107
—	SPROTT FOCUS TR INC	428,359	$2,750	0.2%	$6.52	—	COM	85208J109
—	ABERDEEN CHILE FD INC	427,202	$2,670	0.2%	$6.41	—	COM	00301W105
—	ROYCE VALUE TR INC	222,834	$2,623	0.2%	$13.24	—	COM	780910105
—	MORGAN STANLEY EMER MKTS DEB	252,782	$2,341	0.2%	$9.64	—	COM	61744H105
—	BLACKROCK CR ALLCTN INC TR	175,000	$2,279	0.2%	$13.04	—	COM	092508100
—	INVESCO SR INCOME TR	541,632	$2,264	0.2%	$4.18	—	COM	46131H107
—	CUTWATER SELECT INCOME FD	114,123	$2,263	0.2%	$18.68	—	COM	232229104
—	ROYCE GLOBAL VALUE TR INC	286,203	$2,175	0.1%	$7.32	—	COM	78081T104
—	NUVEEN GLOBAL EQUITY INCOME	172,169	$2,009	0.1%	$13.05	—	COM	6706EH103
—	LMP CAP & INCOME FD INC	150,721	$1,979	0.1%	$12.22	—	COM	50208A102
—	WELLS FARGO MULTI SECTOR INC	151,047	$1,911	0.1%	$13.46	—	WF MLT SECTR INC	94987D101
—	ZWEIG FD	145,391	$1,830	0.1%	$13.81	—	COM NEW	989834205
—	ALLIANZGI EQUITY & CONV INCO	98,015	$1,802	0.1%	$19.91	—	COM	018829101
—	ALPINE GLOBAL DYNAMIC DIVD F	204,376	$1,729	0.1%	$9.95	—	COM NEW	02082E205
—	ABERDEEN GTR CHINA FD INC	205,456	$1,721	0.1%	$9.75	—	COM	003031101
—	ASIA TIGERS FD INC	177,961	$1,703	0.1%	$10.24	—	COM	04516T105
—	GDL FUND	169,607	$1,684	0.1%	$10.86	—	COM SH BEN IT	361570104
—	LATIN AMERN DISCOVERY FD INC	179,255	$1,656	0.1%	$13.22	—	COM	51828C106
—	DELAWARE ENHANCED GBL DIV &	171,250	$1,649	0.1%	$10.77	—	COM	246060107
—	ABERDEEN EMERGING MKTS SMALL	136,105	$1,641	0.1%	$11.00	—	COM	00301T102
—	NUVEEN DOW 30 DYN OVERWRITE	110,943	$1,612	0.1%	$14.34	—	SHS	67075F105
—	VOYA ASIA PAC DIVID EQUITY I	176,109	$1,559	0.1%	$9.05	—	COM	92912J102
XMUIX	BLACKROCK MUNI INTER DR FD I	93,600	$1,426	0.1%	$14.54	—	COM	09253X102
—	GABELLI GLOBL UTIL & INCOME	75,893	$1,411	0.1%	$18.53	—	COM SH BEN INT	36242L105
—	CLOUGH GLOBAL ALLOCATION FD	111,555	$1,305	0.1%	$14.87	—	COM	18913Y103
—	ADAM NAT RES FD INC	54,815	$1,102	0.1%	$23.15	—	COM	00548F105
—	MADISON STRTG SECTOR PREM FD	80,319	$924	0.1%	$11.88	—	COM	558268108
—	DUFF & PHELPS GLB UTL INC FD	50,084	$859	0.1%	$18.25	—	COM	26433C105
—	ADVENT CLAY CONV SEC INC FD	142,612	$787	0.1%	$6.14	—	COM	007639107
—	LIBERTY ALL-STAR GROWTH FD I	183,421	$750	0.1%	$4.79	—	COM	529900102
—	ZWEIG TOTAL RETURN FD INC	57,002	$686	0.0%	$12.83	—	COM NEW	989837208
—	CUSHING RENAISSANCE FD	37,228	$583	0.0%	$14.49	—	COM	231647108
—	FIRST TR DIVIDEND INCOME FD	60,458	$544	0.0%	$8.55	—	COM	33731L100
—	ROYCE MICRO-CAP TR INC	73,656	$541	0.0%	$7.34	—	COM	780915104
—	BLACKROCK FLOATING RATE INCO	39,343	$510	0.0%	$12.96	—	COM	091941104
—	EATON VANCE TX ADV GLBL DIV	29,760	$428	0.0%	$14.38	—	COM	27828S101
—	ISHARES TR	26,990	$415	0.0%	$18.95	—	MSCI UTD KNGDM	46434V548
—	GABELLI GLB SML & MD CP VAL	33,077	$343	0.0%	$10.27	—	COM	36249W104
—	WESTERN ASSET INCOME FD	12,148	$172	0.0%	$13.23	—	COM	95766T100