1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	3,984,528	$235,366	12.7%	$51.91	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	1,260,850	$153,597	8.3%	$111.84	—	BARCLAYS 7 10 YR	464287440
EZU	ISHARES INC	2,444,016	$92,677	5.0%	$37.29	—	MSCI EURZONE ETF	464286608
MBB	ISHARES TR	701,210	$77,414	4.2%	$108.79	—	MBS ETF	464288588
—	ABERDEEN TOTAL DYNAMIC DIVD	8,346,742	$66,273	3.6%	$8.61	—	COM SH BEN INT	00326L100
—	JAPAN SMALLER CAPITALIZATION	5,720,182	$49,594	2.7%	$9.11	—	COM	47109U104
GOVT	ISHARES TR	1,726,875	$48,266	2.6%	$27.99	—	US TREAS BD ETF	46429B267
—	BLACKROCK ENHANCED INTL DIV	7,561,503	$39,849	2.2%	$5.88	—	COM BENE INTER	092524107
—	BLACKROCK ENHANCED GLOBAL DI	3,976,042	$38,051	2.1%	$12.62	—	COM	092501105
—	MFS INTER INCOME TR	9,489,586	$35,396	1.9%	$3.92	—	SH BEN INT	55273C107
—	ADAMS DIVERSIFIED EQUITY FD	2,167,536	$35,136	1.9%	$13.90	—	COM	006212104
—	MORGAN STANLEY CHINA A SH FD	1,564,968	$33,052	1.8%	$24.82	—	COM	617468103
EWL	ISHARES INC	800,780	$32,888	1.8%	$32.03	—	MSCI SWITZERLAND	464286749
—	BLACKROCK RES & COMMODITIES	5,458,509	$32,478	1.8%	$9.91	—	SHS	09257A108
—	WESTERN AST INFL LKD OPP & I	2,889,453	$32,477	1.8%	$11.50	—	COM	95766R104
XJEQX	ABERDEEN JAPAN EQUITY FD INC	3,560,588	$29,464	1.6%	$7.14	—	COM	00306J109
SPY	SPDR S&P 500 ETF TR	84,135	$28,176	1.5%	$275.74	—	TR UNIT	78462F103
—	GENERAL AMERN INVS INC	818,586	$27,791	1.5%	$33.41	—	COM	368802104
—	EATON VANCE LTD DURATION INC	2,252,788	$25,479	1.4%	$12.67	—	COM	27828H105
—	NEW GERMANY FD INC	1,485,396	$25,073	1.4%	$16.17	—	COM	644465106
—	DWS MUN INCOME TR	2,254,452	$24,979	1.3%	$10.83	—	COM	233368109
—	ABERDEEN EMRG MRKTS EQT INM	3,801,491	$24,634	1.3%	$6.80	—	COM	00301W105
—	TEMPLETON EMERGING MKTS FD	1,433,366	$22,031	1.2%	$14.64	—	COM	880191101
—	BLACKROCK MUNIYIELD QUALITY	1,423,468	$19,131	1.0%	$12.72	—	COM	09254E103
—	EUROPEAN EQUITY FD INC	2,003,107	$18,947	1.0%	$7.63	—	COM	298768102
EWA	ISHARES INC	918,301	$18,109	1.0%	$22.97	—	MSCI AUST ETF	464286103
—	TEMPLETON DRAGON FD INC	810,784	$17,780	1.0%	$23.77	—	COM	88018T101
—	ALLIANCEBERNSTEIN NATL MUN I	1,224,789	$17,074	0.9%	$13.04	—	COM	01864U106
—	BLACKROCK SCIENCE & TECH TR	640,764	$16,436	0.9%	$25.65	—	SHS BEN INT	09260K101
—	DUFF & PHELPS UTIL CORP BD T	1,744,719	$16,104	0.9%	$9.14	—	COM	26432K108
—	KOREA FD INC	524,520	$15,552	0.8%	$34.05	—	COM NEW	500634209
—	WESTERN ASSET PREMIER BD FD	1,193,012	$15,414	0.8%	$12.81	—	SHS BEN INT	957664105
—	HANCOCK JOHN INCOME SECS TR	943,960	$14,296	0.8%	$13.80	—	COM	410123103
—	TAIWAN FD INC	614,470	$14,151	0.8%	$16.93	—	COM	874036106
—	EATON VANCE MUNI INCOME TRUS	1,091,839	$13,986	0.8%	$11.81	—	SH BEN INT	27826U108
XLK	SELECT SECTOR SPDR TR	117,400	$13,701	0.7%	$105.51	—	TECHNOLOGY	81369Y803
—	HANCOCK JOHN INVS TR	837,108	$13,251	0.7%	$15.31	—	COM	410142103
—	ALLIANZGI DIVIDEND INT & PRM	1,087,026	$12,827	0.7%	$11.94	—	COM	01883A107
—	NUVEEN AMT-FREE MUN VALUE FD	759,649	$12,139	0.7%	$15.65	—	COM	670695105
—	TEMPLETON GLOBAL INCOME FD	2,204,765	$11,795	0.6%	$5.78	—	COM	880198106
SUB	ISHARES TR	108,931	$11,775	0.6%	$106.50	—	SHRT NAT MUN ETF	464288158
—	CENTRAL SECS CORP	402,607	$11,672	0.6%	$24.31	—	COM	155123102
—	EATON VANCE MUN BD FD	823,701	$10,848	0.6%	$12.30	—	COM	27827X101
EWQ	ISHARES INC	386,590	$10,801	0.6%	$28.09	—	MSCI FRANCE ETF	464286707
XEGFX	BLACKROCK ENHANCED GOVT FD I	793,244	$10,614	0.6%	$13.59	—	COM	09255K108
—	CBRE CLARION GLOBAL REAL EST	1,751,453	$10,474	0.6%	$7.60	—	COM	12504G100
—	BLACKROCK ENHANCD CAP & INM	670,722	$10,369	0.6%	$14.41	—	COM	09256A109
XMUIX	BLACKROCK MUNI INTER DR FD I	707,641	$9,928	0.5%	$13.20	—	COM	09253X102
—	VOYA EMERGING MKTS HIGH DIVI	1,492,707	$9,867	0.5%	$8.72	—	COM	92912P108
XXCHNXX	CHINA FD INC	373,354	$9,401	0.5%	$20.36	—	COM	169373107
—	WESTERN ASSET INTER MUNI FD	1,018,168	$9,225	0.5%	$8.67	—	COM	958435109
—	SPROTT FOCUS TR INC	1,532,704	$9,120	0.5%	$7.01	—	COM	85208J109
—	BLACKROCK FLOATING RATE INCO	790,000	$8,872	0.5%	$12.15	—	COM	091941104
—	ABERDEEN AUSTRALIA EQUITY FD	1,974,968	$8,808	0.5%	$5.00	—	COM	003011103
—	ABERDEEN ASIA-PACIFIC INCOME	2,013,856	$8,035	0.4%	$3.84	—	COM	003009107
—	NUVEEN MULTI-MKT INCOME FD	1,136,074	$7,931	0.4%	$7.18	—	COM	67075J107
—	NUVEEN SELECT TAX FREE INCOM	512,711	$7,680	0.4%	$13.67	—	SH BEN INT	67063C106
XPMAX	PIONEER MUN HIGH INCOME ADVA	698,814	$7,631	0.4%	$10.19	—	COM	723762100
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	743,010	$7,467	0.4%	$12.93	—	COM SHS	33740D107
—	MFS GOVT MKTS INCOME TR	1,554,023	$7,195	0.4%	$4.54	—	SH BEN INT	552939100
—	NEW IRELAND FD INC	848,235	$7,134	0.4%	$10.25	—	COM	645673104
—	BLACKROCK ENHANCED EQUITY DI	922,096	$6,741	0.4%	$8.14	—	COM	09251A104
XAWPX	ABERDEEN GLOBAL PREMIER PPTY	1,442,430	$6,650	0.4%	$6.08	—	COM SH BEN INT	00302L108
—	EATON VANCE TAX-MANAGED GLOB	900,797	$6,630	0.4%	$6.42	—	COM	27829F108
—	MACQUARIE GLOBAL INFRASTRUCT	376,466	$6,607	0.4%	$18.74	—	COM	55608D101
—	CENTRAL & EASTERN EUROPE FD	330,011	$6,481	0.4%	$27.69	—	COM	153436100
—	NUVEEN AMT FREE QLTY MUN INC	450,396	$6,459	0.3%	$13.63	—	COM	670657105
XBFZX	BLACKROCK CALIF MUN INCOME T	461,941	$6,093	0.3%	$12.61	—	SH BEN INT	09248E102
—	FIRST TRUST MORTGAGE INCM FD	447,290	$6,079	0.3%	$15.10	—	COM SHS	33734E103
—	NUVEEN SELECT MAT MUN FD	554,645	$5,818	0.3%	$9.78	—	SH BEN INT	67061T101
—	ROYCE MICRO-CAP TR INC	749,346	$5,747	0.3%	$7.38	—	COM	780915104
—	LAZARD GLOBAL TOTAL RETURN &	359,220	$5,575	0.3%	$16.02	—	COM	52106W103
—	BLACKROCK MUNIHOLDINGS QUALI	346,273	$4,412	0.2%	$12.16	—	COM	09254C107
—	EATON VANCE TX ADV GLBL DIV	292,665	$4,352	0.2%	$14.87	—	COM	27828S101
—	NUVEEN DOW 30 DYNAMIC OVERWR	312,826	$4,233	0.2%	$13.21	—	SHS	67075F105
—	NUVEEN QUALITY MUNCP INCOME	288,135	$4,184	0.2%	$14.05	—	COM	67066V101
VTEB	VANGUARD MUN BD FDS	74,800	$4,072	0.2%	$54.44	—	TAX EXEMPT BD	922907746
—	ROYCE VALUE TR INC	312,880	$3,955	0.2%	$11.51	—	COM	780910105
—	VOYA ASIA PAC DIVID EQUITY I	466,893	$3,698	0.2%	$8.93	—	COM	92912J102
—	DTF TAX-FREE INCOME INC	254,857	$3,680	0.2%	$12.90	—	COM	23334J107
—	NUVEEN S&P 500 BUY-WRITE INC	317,940	$3,586	0.2%	$11.01	—	COM	6706ER101
—	TEKLA LIFE SCIENCES INVS	202,988	$3,569	0.2%	$16.83	—	SH BEN INT	87911K100
—	NUVEEN REAL ESTATE INCOME FD	467,840	$3,532	0.2%	$8.89	—	COM	67071B108
—	BLACKROCK MUNIHLDS INVSTM QL	262,984	$3,527	0.2%	$13.13	—	COM	09254P108
—	FEDERATED HERMES PREM MUNI I	237,542	$3,390	0.2%	$12.93	—	COM	31423P108
—	SWISS HELVETIA FD INC	391,789	$3,244	0.2%	$11.37	—	COM	870875101
—	NUVEEN GEORGIA QLTY MUN INC	263,992	$3,221	0.2%	$11.68	—	COM	67072B107
—	VOYA GLBL EQTY DIV & PREM OP	572,934	$2,836	0.2%	$5.21	—	COM	92912T100
XMUSX	BLACKROCK MUNIHOLDINGS QUALI	207,183	$2,669	0.1%	$12.00	—	COM	09254A101
—	NUVEEN SELECT TAX FREE INCOM	161,557	$2,650	0.1%	$14.66	—	SH BEN INT	67063X100
—	NUVEEN INT DUR QUAL MUN TRM	177,999	$2,544	0.1%	$13.70	—	COM	670677103
—	TEKLA HEALTHCARE INVS	121,065	$2,496	0.1%	$20.94	—	SH BEN INT	87911J103
—	MEXICO FD INC	237,878	$2,441	0.1%	$15.84	—	COM	592835102
—	INDIA FD INC	145,756	$2,405	0.1%	$20.11	—	COM	454089103
—	WESTERN ASSET MANAGED MUNS F	197,056	$2,402	0.1%	$12.19	—	COM	95766M105
—	TEKLA HEALTHCARE OPPORTUNITI	131,167	$2,373	0.1%	$17.12	—	SHS	879105104
—	MORGAN STANLEY INDIA INVT FD	133,932	$2,324	0.1%	$18.07	—	COM	61745C105
XEVMX	EATON VANCE CALIF MUN BD FD	192,347	$2,185	0.1%	$10.21	—	COM	27828A100
—	WESTERN ASST INFLTN LKD INM	153,962	$1,875	0.1%	$11.53	—	COM SH BEN INT	95766Q106
—	MFS MUN INCOME TR	285,889	$1,838	0.1%	$6.18	—	SH BEN INT	552738106
XENWX	EATON VANCE NEW YORK MUN BD	146,108	$1,724	0.1%	$11.36	—	COM	27827Y109
—	MADISON COVERED CALL & EQUIT	286,405	$1,713	0.1%	$5.08	—	COM	557437100
—	DWS STRATEGIC MUN INCOME TR	154,050	$1,671	0.1%	$10.41	—	COM	23342Q101
XBNYX	BLACKROCK N Y MUN INCOME TR	117,469	$1,593	0.1%	$12.66	—	SH BEN INT	09248L106
XFEOX	FIRST TR / ABERDEEN EMERGING	131,395	$1,583	0.1%	$15.61	—	COM	33731K102
—	WESTERN ASSET MUN DEF OPP TR	77,693	$1,573	0.1%	$19.10	—	COM	95768A109
—	NUVEEN CALIF MUNICPAL VALUE	97,963	$1,532	0.1%	$14.93	—	COM	6706EB106
—	EATON VANCE NATL MUN OPPORT	73,793	$1,479	0.1%	$19.53	—	COM SHS	27829L105
XMQTX	BLACKROCK MUNIYIELD QUALITY	112,500	$1,471	0.1%	$12.50	—	COM	09254G108
XHIEX	MILLER HOWARD HIGH INC EQTY	230,361	$1,419	0.1%	$6.11	—	COM SHS BEN IN	600379101
—	WESTERN ASSET MUN HIGH INCOM	181,040	$1,349	0.1%	$7.07	—	COM	95766N103
—	VOYA GLBL ADV & PREM OPP FD	156,719	$1,307	0.1%	$8.46	—	COM	92912R104
—	ABERDEEN GLOBAL DYNAMIC DIVI	140,250	$1,292	0.1%	$10.18	—	COM	00302M106
—	MORGAN STANLEY EMER MKTS DEB	149,879	$1,257	0.1%	$8.39	—	COM	61744H105
—	GDL FUND	147,478	$1,236	0.1%	$8.24	—	COM SH BEN IT	361570104
—	MFS INVT GRADE MUN TR	117,309	$1,102	0.1%	$9.04	—	SH BEN INT	59318B108
XMVFX	BLACKROCK MUNIVEST FD INC	120,080	$1,042	0.1%	$8.23	—	COM	09253R105
—	EATON VANCE SHORT DURATION D	85,548	$980	0.1%	$11.46	—	COM	27828V104
—	EATON VANCE TX ADV GLB DIV O	44,354	$922	0.0%	$20.79	—	COM	27828U106
—	NUVEEN CORE EQUITY ALPHA FD	65,217	$835	0.0%	$12.69	—	COM	67090X107
—	HANCOCK JOHN INVT TR	132,810	$676	0.0%	$6.49	—	TAX ADV GLB SH	41013P749
—	VOYA INTL HIGH DIVID EQTY IN	115,104	$510	0.0%	$4.24	—	COM	92912Y109
—	EATON VANCE TXMGD GL BUYWR O	47,981	$410	0.0%	$8.65	—	COM	27829C105
—	LIBERTY ALL STAR EQUITY FD	50,000	$300	0.0%	$4.84	—	SH BEN INT	530158104
—	TRI CONTL CORP	7,850	$204	0.0%	$20.89	—	COM	895436103