1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	4,317,878	$236,274	13.0%	$51.57	—	MSCI JPN ETF NEW	46434G822
EWA	ISHARES INC	3,812,402	$82,043	4.5%	$23.06	—	MSCI AUST ETF	464286103
EZU	ISHARES INC	1,988,880	$76,771	4.2%	$39.67	—	MSCI EURZONE ETF	464286608
—	ABERDEEN TOTAL DYNAMIC DIVD	8,718,334	$71,926	4.0%	$8.61	—	COM SH BEN INT	00326L100
EWQ	ISHARES INC	1,721,074	$50,720	2.8%	$28.09	—	MSCI FRANCE ETF	464286707
EWG	ISHARES INC	1,862,376	$50,135	2.8%	$29.19	—	MSCI GERMANY ETF	464286806
—	JAPAN SMALLER CAPTLZTN FD IN	5,229,251	$45,861	2.5%	$9.14	—	COM	47109U104
—	BLACKROCK RES & COMM STRAT T	5,311,052	$43,391	2.4%	$10.03	—	SHS	09257A108
—	MFS INTER INCOME TR	11,090,657	$42,144	2.3%	$3.94	—	SH BEN INT	55273C107
—	BLACKROCK ENHANCED GBL DIV T	3,706,639	$39,661	2.2%	$12.88	—	COM	092501105
SPY	SPDR S&P 500 ETF TR	127,495	$36,015	2.0%	$260.65	—	TR UNIT	78462F103
—	MORGAN STANLEY CHINA A SH FD	1,380,268	$32,215	1.8%	$25.53	—	COM	617468103
—	ADAMS DIVERSIFIED EQUITY FD	2,197,589	$31,733	1.7%	$13.83	—	COM	006212104
—	ABERDEEN EMRG MRKTS EQT INM	4,255,806	$30,940	1.7%	$6.87	—	COM	00301W105
—	WESTERN AST INFL LKD OPP & I	2,783,953	$29,872	1.6%	$11.54	—	COM	95766R104
—	EATON VANCE LTD DUR INCOME F	2,264,878	$28,651	1.6%	$12.65	—	COM	27828H105
—	LIBERTY ALL STAR EQUITY FD	4,609,487	$28,164	1.5%	$5.67	—	SH BEN INT	530158104
—	BLACKROCK ENHANCED INTL DIV	5,060,470	$28,136	1.5%	$6.21	—	COM BENE INTER	092524107
EWL	ISHARES INC	627,651	$22,200	1.2%	$30.77	—	MSCI SWITZERLAND	464286749
—	GENERAL AMERN INVS INC	646,822	$21,546	1.2%	$33.28	—	COM	368802104
XJEQX	ABERDEEN JAPAN EQUITY FD INC	2,951,230	$20,585	1.1%	$7.12	—	COM	00306J109
IEF	ISHARES TR	186,300	$19,873	1.1%	$107.74	—	BARCLAYS 7 10 YR	464287440
—	MORGAN STANLEY ASIA PAC FD I	1,208,036	$19,751	1.1%	$15.69	—	COM	61744U106
—	TEMPLETON EMERGING MKTS FD I	1,303,662	$19,398	1.1%	$14.76	—	COM	880191101
—	WESTERN ASST INFLTN LKD INM	1,663,513	$18,648	1.0%	$11.52	—	COM SH BEN INT	95766Q106
—	CBRE CLARION GLOBAL REAL EST	2,334,202	$17,436	1.0%	$7.98	—	COM	12504G100
—	NEW GERMANY FD INC	1,212,395	$16,949	0.9%	$16.93	—	COM	644465106
—	MFS GOVT MKTS INCOME TR	3,627,090	$16,286	0.9%	$4.53	—	SH BEN INT	552939100
—	EATON VANCE MUN BD FD	1,300,194	$16,122	0.9%	$12.26	—	COM	27827X101
—	EUROPEAN EQUITY FUND	1,690,794	$14,721	0.8%	$7.53	—	COM	298768102
—	EATON VANCE SH TM DR DIVR IN	1,081,416	$14,026	0.8%	$12.72	—	COM	27828V104
—	KOREA FD	476,483	$14,016	0.8%	$34.99	—	COM NEW	500634209
—	BLACKROCK ENHANCED EQT DIV T	1,632,315	$13,956	0.8%	$8.38	—	COM	09251A104
—	WESTERN ASSET PREMIER BD FD	1,055,756	$13,809	0.8%	$12.85	—	SHS BEN INT	957664105
—	BLACKROCK CR ALLCTN INC TR	1,103,384	$13,693	0.8%	$11.69	—	COM	092508100
—	TEMPLETON DRAGON FD INC	686,178	$13,641	0.7%	$24.66	—	COM	88018T101
—	VOYA EMERGING MKTS HIGH DIVI	1,701,292	$13,525	0.7%	$8.74	—	COM	92912P108
—	MACQUARIE GLBL INFRA TOTL RE	588,342	$13,055	0.7%	$19.57	—	COM	55608D101
—	DUFF & PHELPS UTIL CORP BD T	1,494,751	$12,855	0.7%	$9.19	—	COM	26432K108
XFDEX	FIRST TR DYNAMIC EUROPE EQT	891,334	$12,782	0.7%	$14.24	—	COM SHS	33740D107
—	NUVEEN AMT FREE QLTY MUN INC	927,600	$12,393	0.7%	$13.60	—	COM	670657105
MBB	ISHARES TR	114,600	$12,189	0.7%	$106.36	—	MBS ETF	464288588
—	NUVEEN MUN VALUE FD INC	1,201,800	$12,018	0.7%	$9.33	—	COM	670928100
—	MFS CHARTER INCOME TR	1,493,359	$11,798	0.6%	$8.12	—	SH BEN INT	552727109
—	HANCOCK JOHN INVS TR	744,206	$11,736	0.6%	$15.13	—	COM	410142103
—	ALLIANZGI NFJ DIVID INT & PR	947,699	$11,429	0.6%	$12.19	—	COM	01883A107
—	HANCOCK JOHN INCOME SECS TR	803,322	$11,391	0.6%	$13.66	—	COM	410123103
—	BLACKROCK INCOME TR INC	1,901,236	$11,312	0.6%	$6.36	—	COM	09247F100
—	NUVEEN SELECT TAX FREE INCM	784,055	$10,922	0.6%	$13.50	—	SH BEN INT	67063C106
XEGFX	BLACKROCK ENHANCED GOVT FD I	798,542	$10,469	0.6%	$13.74	—	COM	09255K108
XAWPX	ABERDEEN GLOBAL PREMIER PPTY	1,723,245	$10,357	0.6%	$6.32	—	COM SH BEN INT	00302L108
—	PGIM HIGH YIELD BOND FUND IN	730,283	$10,355	0.6%	$13.97	—	COM	69346H100
—	BLACKROCK ENH CAP & INC FD I	651,343	$10,272	0.6%	$14.31	—	COM	09256A109
—	CENTRAL SECS CORP	357,501	$10,242	0.6%	$23.67	—	COM	155123102
—	BLACKROCK CORE BD TR	748,000	$10,061	0.6%	$12.20	—	SHS BEN INT	09249E101
XMUIX	BLACKROCK MUNI INTER DR FD I	726,194	$10,000	0.5%	$13.09	—	COM	09253X102
—	EATON VANCE MUNI INCOME TRUS	818,778	$9,989	0.5%	$11.66	—	SH BEN INT	27826U108
—	DWS MUN INCOME TR NEW	857,005	$9,444	0.5%	$10.51	—	COM	233368109
—	ALLIANCEBERNSTEIN NATL MUNI	726,068	$9,403	0.5%	$12.60	—	COM	01864U106
—	NUVEEN QUALITY MUNCP INCOME	672,864	$9,131	0.5%	$14.05	—	COM	67066V101
—	BLACKROCK FLOATING RATE INCO	746,179	$9,111	0.5%	$12.10	—	COM	091941104
—	SPROTT FOCUS TR INC	1,323,695	$9,067	0.5%	$7.12	—	COM	85208J109
SUB	ISHARES TR	83,500	$8,851	0.5%	$106.00	—	SHRT NAT MUN ETF	464288158
—	BLACKROCK MUNIYIELD QLTY FD	669,149	$8,652	0.5%	$12.24	—	COM	09254E103
—	PUTNAM MASTER INTER INCOME T	1,740,934	$7,904	0.4%	$4.31	—	SH BEN INT	746909100
—	TAIWAN FD INC	432,052	$7,738	0.4%	$16.45	—	COM	874036106
—	THE CENTRAL AND EASTERN EU I	319,983	$7,696	0.4%	$27.76	—	COM	153436100
—	FIRST TRUST MORTGAGE INCM FD	555,585	$7,515	0.4%	$15.26	—	COM SHS	33734E103
—	PGIM GLOBAL HIGH YIELD FD IN	519,417	$7,241	0.4%	$13.51	—	COM	69346J106
—	NUVEEN MULTI MKT INCOME FD	972,915	$6,881	0.4%	$7.25	—	COM	67075J107
—	ALLIANCEBERNSTEIN GBL HGH IN	551,606	$6,393	0.4%	$10.53	—	COM	01879R106
—	INVESCO BD FD	342,286	$6,295	0.3%	$17.12	—	COM	46132L107
—	NUVEEN SELECT TAX FREE INCM	406,547	$5,988	0.3%	$14.47	—	SH BEN INT	67063X100
—	WESTERN ASSET EMRG MKT DEBT	429,000	$5,852	0.3%	$14.49	—	COM	95766A101
—	MFS MULTIMARKET INCOME TR	1,002,773	$5,696	0.3%	$5.99	—	SH BEN INT	552737108
—	BRANDYWINEGBL GLBAL INM OPRT	504,739	$5,623	0.3%	$12.76	—	COM	10537L104
—	TEMPLETON GLOBAL INCOME FD	866,876	$5,461	0.3%	$6.31	—	COM	880198106
—	NEW IRELAND FUND INC	599,624	$5,403	0.3%	$11.33	—	COM	645673104
—	ABERDEEN AUSTRALIA EQTY FD I	974,405	$5,281	0.3%	$5.41	—	COM	003011103
—	TRI CONTL CORP	200,610	$5,276	0.3%	$20.47	—	COM	895436103
XXCHNXX	CHINA FD INC	256,292	$5,223	0.3%	$19.31	—	COM	169373107
—	NUVEEN SELECT MAT MUN FD	472,382	$4,705	0.3%	$9.75	—	SH BEN INT	67061T101
—	WESTERN ASSET GLOBAL CP DEFI	284,052	$4,675	0.3%	$17.05	—	COM	95790C107
—	NUVEEN AMT-FREE MUN VALUE FD	287,783	$4,596	0.3%	$14.77	—	COM	670695105
—	ABERDEEN ASIA PACIFIC INCOM	1,052,656	$4,453	0.2%	$4.08	—	COM	003009107
—	LAZARD GLB TTL RET&INCM FD I	279,797	$4,323	0.2%	$16.17	—	COM	52106W103
—	NUVEEN REAL ESTATE INCOME FD	361,610	$3,746	0.2%	$9.09	—	COM	67071B108
—	WESTERN ASSET INTM MUNI FD I	421,800	$3,716	0.2%	$8.36	—	COM	958435109
—	MEXICO FD INC	250,029	$3,460	0.2%	$15.90	—	COM	592835102
—	DTF TAX-FREE INCOME INC	250,857	$3,319	0.2%	$12.87	—	COM	23334J107
—	NUVEEN CALIF MUN VALUE FD	328,439	$3,140	0.2%	$9.22	—	COM	67062C107
XLI	SELECT SECTOR SPDR TR	40,550	$3,042	0.2%	$73.91	—	SBI INT-INDS	81369Y704
—	NUVEEN SELECT TAX FREE INCM	207,238	$3,034	0.2%	$14.16	—	SH BEN INT	67062F100
XFEOX	FIRST TR/ABERDEEN EMERG OPT	214,166	$2,881	0.2%	$15.61	—	COM	33731K102
—	NUVEEN TEXAS QLTY MUN INCME	214,030	$2,859	0.2%	$12.89	—	COM	670983105
—	ADAM NAT RES FD INC	167,449	$2,808	0.2%	$20.02	—	COM	00548F105
—	SWISS HELVETIA FD INC	367,511	$2,800	0.2%	$11.60	—	COM	870875101
XBNYX	BLACKROCK N Y MUN INCOME TR	213,546	$2,787	0.2%	$12.55	—	SH BEN INT	09248L106
—	BLACKROCK MUNIHLDNGS QLTY II	219,956	$2,705	0.1%	$11.91	—	COM	09254C107
—	FEDERATED PREM MUN INC FD	189,575	$2,546	0.1%	$12.57	—	COM	31423P108
—	VOYA ASIA PAC DIVID EQUITY I	270,095	$2,528	0.1%	$9.21	—	COM	92912J102
—	WESTERN ASSET HIGH INCM FD I	382,200	$2,477	0.1%	$6.56	—	COM	95766J102
—	MEXICO EQUITY & INCOME FD	229,873	$2,441	0.1%	$14.29	—	COM	592834105
—	NEUBERGER BERMAN MUNI FD INC	168,197	$2,414	0.1%	$13.22	—	COM	64124P101
—	MFS MUN INCOME TR	347,900	$2,407	0.1%	$6.18	—	SH BEN INT	552738106
—	ROYCE GLOBAL VALUE TR INC	238,107	$2,395	0.1%	$7.43	—	COM	78081T104
—	INDIA FD INC	107,556	$2,298	0.1%	$22.29	—	COM	454089103
XBFZX	BLACKROCK CALIF MUN INCOME T	160,651	$2,061	0.1%	$12.11	—	SH BEN INT	09248E102
—	TEKLA HEALTHCARE OPPORTUNIT	111,012	$1,956	0.1%	$17.20	—	SHS	879105104
—	MORGAN STANLEY INDIA INVS FD	93,484	$1,954	0.1%	$20.33	—	COM	61745C105
—	NUVEEN VIRGINIA QLTY MUNCPL	150,154	$1,907	0.1%	$12.03	—	COM	67064R102
—	NUVEEN GEORGIA QLTY MUN INC	158,609	$1,891	0.1%	$11.29	—	COM	67072B107
—	ROYCE VALUE TR INC	132,650	$1,825	0.1%	$11.80	—	COM	780910105
XEVMX	EATON VANCE CALIF MUN BD FD	171,207	$1,806	0.1%	$10.13	—	COM	27828A100
—	NUVEEN ENHANCED MUN VALUE FD	124,000	$1,711	0.1%	$13.15	—	COM	67074M101
—	DREYFUS MUN INCOME INC	202,880	$1,706	0.1%	$7.92	—	COM	26201R102
XENWX	EATON VANCE NEW YORK MUN BD	141,908	$1,667	0.1%	$11.34	—	COM	27827Y109
—	DWS STRATEGIC MUN INCOME TR	143,619	$1,611	0.1%	$10.35	—	COM	23342Q101
—	NUVEEN MUN INCOME FD INC	141,151	$1,539	0.1%	$10.14	—	COM	67062J102
—	BLACKROCK MUN INCOME TR	111,863	$1,508	0.1%	$12.51	—	SH BEN INT	09248F109
—	ABERDEEN GLOBAL DYNAMIC DIVI	148,178	$1,403	0.1%	$10.25	—	COM	00302M106
—	PUTNAM MUN OPPORTUNITIES TR	113,700	$1,394	0.1%	$11.71	—	SH BEN INT	746922103
XMUSX	BLACKROCK MUNIHOLDNGS QLTY I	113,367	$1,373	0.1%	$11.64	—	COM	09254A101
—	BLACKROCK MUNIHLDS INVSTM QL	102,000	$1,317	0.1%	$12.74	—	COM	09254P108
—	WESTERN ASSET HIGH INCM OPP	255,300	$1,233	0.1%	$4.81	—	COM	95766K109
—	VOYA GLBL ADV & PREM OPP FD	101,685	$1,097	0.1%	$9.20	—	COM	92912R104
—	LIBERTY ALL-STAR GROWTH FD I	165,854	$922	0.1%	$4.39	—	COM	529900102
—	MFS INVT GRADE MUN TR	90,996	$854	0.0%	$8.82	—	SH BEN INT	59318B108
XMQTX	BLACKROCK MUNIY QUALITY FD I	50,700	$624	0.0%	$12.31	—	COM	09254G108
—	LAZARD WORLD DIVID & INCOME	60,702	$602	0.0%	$8.88	—	COM	521076109
—	DELAWARE ENHANCED GBL DIV &	59,493	$575	0.0%	$10.77	—	COM	246060107
—	WESTERN ASSET MUN HI INCM FD	60,318	$446	0.0%	$6.93	—	COM	95766N103
—	BROOKFIELD GLOBL LISTED INFR	25,034	$308	0.0%	$12.30	—	COM SHS	11273Q109
—	WESTERN ASSET INVT GRADE DEF	14,300	$287	0.0%	$18.56	—	COM	95790A101
—	DUFF & PHELPS GLB UTL INC FD	13,200	$197	0.0%	$14.92	—	COM	26433C105
—	HANCOCK JOHN INV TRUST	8,107	$56	0.0%	$6.91	—	TAX ADV GLB SH	41013P749