1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	4,363,378	$238,153	12.9%	$51.60	—	MSCI JPN ETF NEW	46434G822
EZU	ISHARES INC	1,997,980	$79,030	4.3%	$39.67	—	MSCI EURZONE ETF	464286608
—	ABERDEEN TOTAL DYNAMIC DIVD	8,437,115	$70,366	3.8%	$8.61	—	COM SH BEN INT	00326L100
IEF	ISHARES TR	521,450	$57,370	3.1%	$109.21	—	BARCLAYS 7 10 YR	464287440
EWA	ISHARES INC	2,542,326	$57,304	3.1%	$23.06	—	MSCI AUST ETF	464286103
EWQ	ISHARES INC	1,729,574	$53,011	2.9%	$28.09	—	MSCI FRANCE ETF	464286707
—	MFS INTER INCOME TR	12,055,857	$46,536	2.5%	$3.93	—	SH BEN INT	55273C107
—	JAPAN SMALLER CAPTLZTN FD IN	5,299,298	$45,045	2.4%	$9.13	—	COM	47109U104
—	BLACKROCK RES & COMM STRAT T	5,365,752	$43,892	2.4%	$10.01	—	SHS	09257A108
EWG	ISHARES INC	1,524,576	$42,764	2.3%	$29.19	—	MSCI GERMANY ETF	464286806
—	BLACKROCK ENHANCED GBL DIV T	3,839,639	$41,199	2.2%	$12.80	—	COM	092501105
SPY	SPDR S&P 500 ETF TR	119,715	$35,076	1.9%	$260.65	—	TR UNIT	78462F103
—	WESTERN AST INFL LKD OPP & I	3,084,553	$34,516	1.9%	$11.50	—	COM	95766R104
—	ADAMS DIVERSIFIED EQUITY FD	2,193,989	$33,941	1.8%	$13.83	—	COM	006212104
—	BLACKROCK ENHANCED INTL DIV	6,035,785	$33,921	1.8%	$6.12	—	COM BENE INTER	092524107
MBB	ISHARES TR	299,150	$32,189	1.7%	$107.13	—	MBS ETF	464288588
—	EATON VANCE LTD DUR INCOME F	2,509,778	$31,749	1.7%	$12.65	—	COM	27828H105
—	MORGAN STANLEY CHINA A SH FD	1,401,357	$30,466	1.6%	$25.47	—	COM	617468103
—	GENERAL AMERN INVS INC	700,923	$24,876	1.3%	$33.45	—	COM	368802104
—	ABERDEEN EMRG MRKTS EQT INM	3,381,124	$24,716	1.3%	$6.87	—	COM	00301W105
EWL	ISHARES INC	625,851	$23,507	1.3%	$30.77	—	MSCI SWITZERLAND	464286749
—	LIBERTY ALL STAR EQUITY FD	3,503,716	$22,494	1.2%	$5.67	—	SH BEN INT	530158104
—	WESTERN ASST INFLTN LKD INM	1,841,613	$21,455	1.2%	$11.53	—	COM SH BEN INT	95766Q106
XJEQX	ABERDEEN JAPAN EQUITY FD INC	2,964,839	$20,754	1.1%	$7.12	—	COM	00306J109
—	TEMPLETON EMERGING MKTS FD I	1,318,838	$19,914	1.1%	$14.77	—	COM	880191101
—	NEW GERMANY FD INC	1,220,703	$17,359	0.9%	$16.93	—	COM	644465106
—	CBRE CLARION GLOBAL REAL EST	2,311,302	$17,312	0.9%	$7.98	—	COM	12504G100
—	MFS GOVT MKTS INCOME TR	3,691,390	$16,870	0.9%	$4.53	—	SH BEN INT	552939100
—	EATON VANCE SH TM DR DIVR IN	1,198,716	$16,231	0.9%	$12.80	—	COM	27828V104
—	EUROPEAN EQUITY FUND	1,733,747	$15,309	0.8%	$7.57	—	COM	298768102
—	WESTERN ASSET PREMIER BD FD	1,117,556	$15,288	0.8%	$12.90	—	SHS BEN INT	957664105
—	DUFF & PHELPS UTIL CORP BD T	1,673,751	$14,645	0.8%	$9.14	—	COM	26432K108
—	BLACKROCK ENHANCED EQT DIV T	1,629,115	$14,450	0.8%	$8.38	—	COM	09251A104
—	MACQUARIE GLBL INFRA TOTL RE	603,162	$14,271	0.8%	$19.67	—	COM	55608D101
—	NUVEEN AMT FREE QLTY MUN INC	1,025,700	$14,165	0.8%	$13.62	—	COM	670657105
—	KOREA FD	483,383	$13,941	0.8%	$34.90	—	COM NEW	500634209
XFDEX	FIRST TR DYNAMIC EUROPE EQT	975,059	$13,670	0.7%	$14.22	—	COM SHS	33740D107
—	VOYA EMERGING MKTS HIGH DIVI	1,723,463	$13,374	0.7%	$8.72	—	COM	92912P108
—	TEMPLETON DRAGON FD INC	695,278	$13,363	0.7%	$24.59	—	COM	88018T101
—	HANCOCK JOHN INVS TR	806,906	$13,233	0.7%	$15.23	—	COM	410142103
—	EATON VANCE MUN BD FD	1,046,097	$13,003	0.7%	$12.26	—	COM	27827X101
—	MFS CHARTER INCOME TR	1,590,559	$12,963	0.7%	$8.12	—	SH BEN INT	552727109
—	NUVEEN SELECT TAX FREE INCM	861,374	$12,404	0.7%	$13.58	—	SH BEN INT	67063C106
—	ALLIANCEBERNSTEIN NATL MUNI	922,265	$12,404	0.7%	$12.78	—	COM	01864U106
—	NUVEEN MUN VALUE FD INC	1,212,342	$12,342	0.7%	$9.33	—	COM	670928100
—	DWS MUN INCOME TR NEW	1,062,097	$11,970	0.6%	$10.66	—	COM	233368109
—	HANCOCK JOHN INCOME SECS TR	822,322	$11,814	0.6%	$13.67	—	COM	410123103
—	PGIM HIGH YIELD BOND FUND IN	806,492	$11,799	0.6%	$14.03	—	COM	69346H100
—	ALLIANZGI NFJ DIVID INT & PR	945,599	$11,725	0.6%	$12.19	—	COM	01883A107
—	EATON VANCE MUNI INCOME TRUS	902,278	$11,224	0.6%	$11.73	—	SH BEN INT	27826U108
—	BLACKROCK INCOME TR INC	1,852,836	$11,210	0.6%	$6.36	—	COM	09247F100
SUB	ISHARES TR	103,200	$10,996	0.6%	$106.11	—	SHRT NAT MUN ETF	464288158
XMUIX	BLACKROCK MUNI INTER DR FD I	779,594	$10,953	0.6%	$13.15	—	COM	09253X102
—	CENTRAL SECS CORP	357,101	$10,899	0.6%	$23.67	—	COM	155123102
XEGFX	BLACKROCK ENHANCED GOVT FD I	811,901	$10,631	0.6%	$13.72	—	COM	09255K108
—	NUVEEN QUALITY MUNCP INCOME	740,714	$10,370	0.6%	$14.05	—	COM	67066V101
—	BLACKROCK FLOATING RATE INCO	824,479	$10,240	0.6%	$12.13	—	COM	091941104
—	BLACKROCK ENH CAP & INC FD I	641,397	$10,134	0.5%	$14.31	—	COM	09256A109
—	BLACKROCK MUNIYIELD QLTY FD	742,460	$9,800	0.5%	$12.34	—	COM	09254E103
—	BLACKROCK CORE BD TR	666,300	$9,368	0.5%	$12.20	—	SHS BEN INT	09249E101
—	SPROTT FOCUS TR INC	1,321,195	$8,905	0.5%	$7.12	—	COM	85208J109
—	THE CENTRAL AND EASTERN EU I	324,983	$8,838	0.5%	$27.75	—	COM	153436100
XAWPX	ABERDEEN GLOBAL PREMIER PPTY	1,384,140	$8,665	0.5%	$6.32	—	COM SH BEN INT	00302L108
—	FIRST TRUST MORTGAGE INCM FD	611,325	$8,540	0.5%	$15.14	—	COM SHS	33734E103
—	PGIM GLOBAL HIGH YIELD FD IN	580,317	$8,386	0.5%	$13.61	—	COM	69346J106
—	TAIWAN FD INC	485,556	$8,230	0.4%	$16.51	—	COM	874036106
—	BLACKROCK CR ALLCTN INC TR	592,184	$7,681	0.4%	$11.69	—	COM	092508100
—	NUVEEN MULTI MKT INCOME FD	1,032,915	$7,571	0.4%	$7.26	—	COM	67075J107
—	NUVEEN SELECT TAX FREE INCM	429,458	$6,631	0.4%	$14.52	—	SH BEN INT	67063X100
—	BRANDYWINEGBL GLBAL INM OPRT	543,742	$6,384	0.3%	$12.69	—	COM	10537L104
—	INVESCO BD FD	329,426	$6,134	0.3%	$17.12	—	COM	46132L107
—	TEMPLETON GLOBAL INCOME FD	957,632	$6,091	0.3%	$6.32	—	COM	880198106
—	ABERDEEN AUSTRALIA EQTY FD I	1,035,335	$5,674	0.3%	$5.42	—	COM	003011103
—	NEW IRELAND FUND INC	622,658	$5,585	0.3%	$11.24	—	COM	645673104
—	PUTNAM MASTER INTER INCOME T	1,190,634	$5,465	0.3%	$4.31	—	SH BEN INT	746909100
XXCHNXX	CHINA FD INC	259,292	$5,248	0.3%	$19.32	—	COM	169373107
—	ABERDEEN ASIA PACIFIC INCOM	1,162,456	$4,859	0.3%	$4.09	—	COM	003009107
—	NUVEEN SELECT MAT MUN FD	464,682	$4,842	0.3%	$9.75	—	SH BEN INT	67061T101
—	LAZARD GLB TTL RET&INCM FD I	287,797	$4,651	0.3%	$16.17	—	COM	52106W103
—	BLACKROCK MUNIHLDNGS QLTY II	315,273	$3,966	0.2%	$12.12	—	COM	09254C107
—	NUVEEN REAL ESTATE INCOME FD	361,610	$3,797	0.2%	$9.09	—	COM	67071B108
—	WESTERN ASSET INTM MUNI FD I	421,800	$3,771	0.2%	$8.36	—	COM	958435109
—	VOYA ASIA PAC DIVID EQUITY I	408,324	$3,769	0.2%	$9.22	—	COM	92912J102
—	MEXICO FD INC	257,429	$3,540	0.2%	$15.84	—	COM	592835102
—	DTF TAX-FREE INCOME INC	250,857	$3,472	0.2%	$12.87	—	COM	23334J107
—	NUVEEN CALIF MUN VALUE FD	328,439	$3,311	0.2%	$9.22	—	COM	67062C107
—	MFS MULTIMARKET INCOME TR	555,073	$3,236	0.2%	$5.99	—	SH BEN INT	552737108
—	ADAM NAT RES FD INC	192,649	$3,186	0.2%	$19.56	—	COM	00548F105
—	NUVEEN TEXAS QLTY MUN INCME	225,967	$3,091	0.2%	$12.94	—	COM	670983105
XBNYX	BLACKROCK N Y MUN INCOME TR	218,902	$2,968	0.2%	$12.57	—	SH BEN INT	09248L106
—	SWISS HELVETIA FD INC	371,476	$2,935	0.2%	$11.56	—	COM	870875101
XFEOX	FIRST TR/ABERDEEN EMERG OPT	208,242	$2,928	0.2%	$15.61	—	COM	33731K102
—	NUVEEN SELECT TAX FREE INCM	190,938	$2,918	0.2%	$14.16	—	SH BEN INT	67062F100
—	FEDERATED PREM MUN INC FD	198,483	$2,729	0.1%	$12.62	—	COM	31423P108
—	WESTERN ASSET GLOBAL CP DEFI	156,652	$2,687	0.1%	$17.05	—	COM	95790C107
—	BLACKROCK MUNIHLDS INVSTM QL	196,594	$2,615	0.1%	$13.01	—	COM	09254P108
—	MEXICO EQUITY & INCOME FD	230,373	$2,557	0.1%	$14.29	—	COM	592834105
—	ROYCE GLOBAL VALUE TR INC	238,107	$2,513	0.1%	$7.43	—	COM	78081T104
—	INDIA FD INC	111,556	$2,374	0.1%	$22.25	—	COM	454089103
—	MFS MUN INCOME TR	332,537	$2,321	0.1%	$6.18	—	SH BEN INT	552738106
—	WESTERN ASSET EMRG MKT DEBT	160,000	$2,291	0.1%	$14.49	—	COM	95766A101
XLC	SELECT SECTOR SPDR TR	46,500	$2,289	0.1%	$49.23	—	COMMUNICATION	81369Y852
XBFZX	BLACKROCK CALIF MUN INCOME T	160,651	$2,129	0.1%	$12.11	—	SH BEN INT	09248E102
XMUSX	BLACKROCK MUNIHOLDNGS QLTY I	165,262	$2,054	0.1%	$11.89	—	COM	09254A101
—	NUVEEN VIRGINIA QLTY MUNCPL	157,654	$2,054	0.1%	$12.08	—	COM	67064R102
—	MORGAN STANLEY INDIA INVS FD	97,684	$2,048	0.1%	$20.36	—	COM	61745C105
—	TEKLA HEALTHCARE OPPORTUNIT	111,012	$1,978	0.1%	$17.20	—	SHS	879105104
—	NUVEEN GEORGIA QLTY MUN INC	158,674	$1,964	0.1%	$11.29	—	COM	67072B107
XEVMX	EATON VANCE CALIF MUN BD FD	176,207	$1,944	0.1%	$10.16	—	COM	27828A100
XLI	SELECT SECTOR SPDR TR	23,950	$1,854	0.1%	$73.91	—	SBI INT-INDS	81369Y704
—	ROYCE VALUE TR INC	132,650	$1,846	0.1%	$11.80	—	COM	780910105
—	NUVEEN ENHANCED MUN VALUE FD	129,000	$1,828	0.1%	$13.19	—	COM	67074M101
—	TRI CONTL CORP	67,304	$1,815	0.1%	$20.47	—	COM	895436103
—	DWS STRATEGIC MUN INCOME TR	148,619	$1,767	0.1%	$10.40	—	COM	23342Q101
—	BNY MELLON MUN INCOME INC	202,880	$1,729	0.1%	$8.52	—	COM	05589T104
XENWX	EATON VANCE NEW YORK MUN BD	141,908	$1,700	0.1%	$11.34	—	COM	27827Y109
—	ABERDEEN GLOBAL DYNAMIC DIVI	148,178	$1,428	0.1%	$10.25	—	COM	00302M106
XMQTX	BLACKROCK MUNIY QUALITY FD I	104,200	$1,309	0.1%	$12.44	—	COM	09254G108
—	MFS INVT GRADE MUN TR	127,697	$1,222	0.1%	$9.04	—	SH BEN INT	59318B108
—	VOYA GLBL ADV & PREM OPP FD	101,685	$1,088	0.1%	$9.20	—	COM	92912R104
—	NEUBERGER BERMAN MUNI FD INC	72,873	$1,062	0.1%	$13.22	—	COM	64124P101
—	PUTNAM MUN OPPORTUNITIES TR	71,600	$906	0.0%	$11.71	—	SH BEN INT	746922103
—	LAZARD WORLD DIVID & INCOME	60,702	$604	0.0%	$8.88	—	COM	521076109
—	DELAWARE ENHANCED GBL DIV &	59,493	$589	0.0%	$10.77	—	COM	246060107
—	WESTERN ASSET MUN HI INCM FD	60,318	$457	0.0%	$6.93	—	COM	95766N103
—	HANCOCK JOHN INV TRUST	60,780	$415	0.0%	$6.84	—	TAX ADV GLB SH	41013P749
—	BROOKFIELD GLOBL LISTED INFR	30,034	$384	0.0%	$12.38	—	COM SHS	11273Q109
—	NUVEEN INT DUR QUAL MUN TRM	11,300	$150	0.0%	$13.27	—	COM	670677103