1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	3,797,875	$256,584	12.8%	$51.91	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	1,260,750	$151,227	7.6%	$111.84	—	BARCLAYS 7 10 YR	464287440
EZU	ISHARES INC	1,993,216	$87,861	4.4%	$37.29	—	MSCI EURZONE ETF	464286608
MBB	ISHARES TR	727,013	$80,066	4.0%	$108.83	—	MBS ETF	464288588
—	ABERDEEN TOTAL DYNAMIC DIVD	8,136,149	$72,005	3.6%	$8.61	—	COM SH BEN INT	00326L100
GOVT	ISHARES TR	1,885,975	$51,374	2.6%	$27.93	—	US TREAS BD ETF	46429B267
—	JAPAN SMALLER CAPITALIZATION	5,484,717	$49,582	2.5%	$9.11	—	COM	47109U104
—	BLACKROCK ENHANCED INTL DIV	7,261,818	$42,627	2.1%	$5.88	—	COM BENE INTER	092524107
—	BLACKROCK ENHANCED GLOBAL DI	3,888,632	$42,425	2.1%	$12.62	—	COM	092501105
—	BLACKROCK RES & COMMODITIES	5,306,908	$39,324	2.0%	$9.91	—	SHS	09257A108
—	ADAMS DIVERSIFIED EQUITY FD	2,158,836	$37,326	1.9%	$13.90	—	COM	006212104
—	WESTERN AST INFL LKD OPP & I	2,949,399	$36,602	1.8%	$11.52	—	COM	95766R104
—	MORGAN STANLEY CHINA A SH FD	1,613,197	$35,732	1.8%	$24.74	—	COM	617468103
—	MFS INTER INCOME TR	9,144,459	$34,840	1.7%	$3.92	—	SH BEN INT	55273C107
XJEQX	ABERDEEN JAPAN EQUITY FD INC	3,566,864	$33,707	1.7%	$7.14	—	COM	00306J109
EWL	ISHARES INC	732,180	$32,714	1.6%	$32.03	—	MSCI SWITZERLAND	464286749
—	ABERDEEN EMRG MRKTS EQT INM	3,959,762	$32,312	1.6%	$6.86	—	COM	00301W105
—	GENERAL AMERN INVS CO INC	820,086	$30,499	1.5%	$33.41	—	COM	368802104
—	EATON VANCE LTD DURATION INC	2,299,488	$28,813	1.4%	$12.67	—	COM	27828H105
—	DWS MUN INCOME TR	2,450,132	$28,495	1.4%	$10.89	—	COM	233368109
—	NEW GERMANY FD INC	1,496,367	$28,476	1.4%	$16.17	—	COM	644465106
—	TEMPLETON EMERGING MKTS FD	1,418,560	$26,555	1.3%	$14.64	—	COM	880191101
SPY	SPDR S&P 500 ETF TR	64,895	$24,263	1.2%	$275.74	—	TR UNIT	78462F103
—	KOREA FD INC	571,170	$23,047	1.2%	$34.56	—	COM NEW	500634209
—	EUROPEAN EQUITY FD INC	2,067,508	$21,502	1.1%	$7.72	—	COM	298768102
—	BLACKROCK MUNIYIELD QUALITY	1,443,328	$20,856	1.0%	$12.74	—	COM	09254E103
—	BLACKROCK SCIENCE & TECH TR	541,689	$19,707	1.0%	$25.65	—	SHS BEN INT	09260K101
—	ALLIANCEBERNSTEIN NATL MUN I	1,233,775	$17,791	0.9%	$13.04	—	COM	01864U106
—	WESTERN ASSET PREMIER BD FD	1,241,873	$17,597	0.9%	$12.86	—	SHS BEN INT	957664105
—	TAIWAN FD INC	677,673	$17,382	0.9%	$17.74	—	COM	874036106
—	DUFF & PHELPS UTIL CORP BD T	1,726,277	$17,297	0.9%	$9.14	—	COM	26432K108
—	EATON VANCE MUNI INCOME TRUS	1,240,973	$16,604	0.8%	$12.00	—	SH BEN INT	27826U108
XLK	SELECT SECTOR SPDR TR	124,900	$16,239	0.8%	$106.98	—	TECHNOLOGY	81369Y803
—	NUVEEN AMT-FREE MUN VALUE FD	961,045	$15,790	0.8%	$15.82	—	COM	670695105
—	CBRE CLARION GLOBAL REAL EST	2,167,908	$14,915	0.7%	$7.46	—	COM	12504G100
EWA	ISHARES INC	614,701	$14,722	0.7%	$22.97	—	MSCI AUST ETF	464286103
—	HANCOCK JOHN INCOME SECS TR	935,105	$14,709	0.7%	$13.80	—	COM	410123103
—	HANCOCK JOHN INVS TR	845,908	$14,609	0.7%	$15.33	—	COM	410142103
—	ALLIANZGI DIVIDEND INT & PRM	1,083,326	$14,582	0.7%	$11.94	—	COM	01883A107
—	CENTRAL SECS CORP	410,818	$13,409	0.7%	$24.48	—	COM	155123102
—	WESTERN ASSET MANAGED MUNS F	964,384	$12,383	0.6%	$12.71	—	COM	95766M105
—	TEMPLETON GLOBAL INCOME FD	2,250,765	$12,379	0.6%	$5.77	—	COM	880198106
—	VOYA EMERGING MKTS HIGH DIVI	1,620,861	$11,767	0.6%	$8.61	—	COM	92912P108
—	BLACKROCK ENHANCD CAP & INM	668,122	$11,625	0.6%	$14.41	—	COM	09256A109
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	975,106	$11,506	0.6%	$12.66	—	COM SHS	33740D107
—	WESTERN ASSET INTER MUNI FD	1,205,373	$11,089	0.6%	$8.75	—	COM	958435109
—	ABERDEEN AUSTRALIA EQUITY FD	2,086,879	$10,998	0.5%	$5.01	—	COM	003011103
XXCHNXX	CHINA FD INC	377,850	$10,791	0.5%	$20.46	—	COM	169373107
—	SPROTT FOCUS TR INC	1,529,604	$10,554	0.5%	$7.01	—	COM	85208J109
XMUIX	BLACKROCK MUNI INTER DR FD I	703,407	$10,460	0.5%	$13.20	—	COM	09253X102
—	EATON VANCE MUN BD FD	766,980	$10,431	0.5%	$12.30	—	COM	27827X101
—	TEMPLETON DRAGON FD INC	443,937	$10,370	0.5%	$23.77	—	COM	88018T101
—	EATON VANCE TX ADV GLBL DIV	566,051	$10,330	0.5%	$16.50	—	COM	27828S101
EEM	ISHARES TR	184,300	$9,523	0.5%	$51.67	—	MSCI EMG MKT ETF	464287234
—	ABERDEEN ASIA-PACIFIC INCOME	2,136,156	$9,506	0.5%	$3.88	—	COM	003009107
—	BLACKROCK FLOATING RATE INCO	805,973	$9,502	0.5%	$12.14	—	COM	091941104
XBFZX	BLACKROCK CALIF MUN INCOME T	627,717	$8,932	0.4%	$13.04	—	SH BEN INT	09248E102
—	NEW IRELAND FD INC	848,085	$8,803	0.4%	$10.25	—	COM	645673104
—	CENTRAL & EASTERN EUROPE FD	345,750	$8,322	0.4%	$27.53	—	COM	153436100
—	NUVEEN MULTI-MKT INCOME FD	1,136,074	$8,168	0.4%	$7.18	—	COM	67075J107
XPMAX	PIONEER MUN HIGH INCOME ADVA	682,902	$7,956	0.4%	$10.19	—	COM	723762100
—	ROYCE MICRO-CAP TR INC	781,646	$7,910	0.4%	$7.49	—	COM	780915104
—	EATON VANCE TAX-MANAGED GLOB	898,397	$7,879	0.4%	$6.42	—	COM	27829F108
—	BLACKROCK ENHANCED EQUITY DI	921,396	$7,804	0.4%	$8.14	—	COM	09251A104
—	MACQUARIE GLOBAL INFRASTRUCT	382,319	$7,757	0.4%	$18.76	—	COM	55608D101
—	VOYA GLBL EQTY DIV & PREM OP	1,382,446	$7,216	0.4%	$5.22	—	COM	92912T100
XAWPX	ABERDEEN GLOBAL PREMIER PPTY	1,361,530	$7,162	0.4%	$6.08	—	COM SH BEN INT	00302L108
XEGFX	BLACKROCK ENHANCED GOVT FD I	487,710	$6,563	0.3%	$13.59	—	COM	09255K108
—	FIRST TRUST MORTGAGE INCM FD	436,476	$6,072	0.3%	$15.10	—	COM SHS	33734E103
—	LAZARD GLOBAL TOTAL RETURN &	318,013	$5,664	0.3%	$16.02	—	COM	52106W103
—	NUVEEN SELECT MAT MUN FD	506,730	$5,409	0.3%	$9.78	—	SH BEN INT	67061T101
—	NUVEEN DOW 30 DYNAMIC OVERWR	333,259	$5,066	0.3%	$13.33	—	SHS	67075F105
—	ROYCE VALUE TR INC	311,480	$5,027	0.3%	$11.51	—	COM	780910105
EWQ	ISHARES INC	148,690	$4,945	0.2%	$28.09	—	MSCI FRANCE ETF	464286707
XMVFX	BLACKROCK MUNIVEST FD INC	532,955	$4,898	0.2%	$8.97	—	COM	09253R105
—	BLACKROCK MUNIHOLDINGS QUALI	322,930	$4,408	0.2%	$12.16	—	COM	09254C107
—	NUVEEN S&P 500 BUY-WRITE INC	316,540	$4,077	0.2%	$11.01	—	COM	6706ER101
—	NUVEEN CORPORATE INCM NOVEME	435,800	$4,009	0.2%	$9.20	—	COM	67077N106
—	TEKLA LIFE SCIENCES INVS	202,988	$4,009	0.2%	$16.83	—	SH BEN INT	87911K100
—	NUVEEN REAL ESTATE INCOME FD	466,340	$3,936	0.2%	$8.89	—	COM	67071B108
—	DWS STRATEGIC MUN INCOME TR	342,855	$3,909	0.2%	$10.95	—	COM	23342Q101
—	MEXICO FD INC	279,678	$3,820	0.2%	$15.51	—	COM	592835102
—	MFS GOVT MKTS INCOME TR	829,423	$3,807	0.2%	$4.54	—	SH BEN INT	552939100
—	DTF TAX-FREE INCOME INC	254,857	$3,797	0.2%	$12.90	—	COM	23334J107
—	TEKLA HEALTHCARE INVS	157,079	$3,743	0.2%	$21.60	—	SH BEN INT	87911J103
—	NUVEEN GEORGIA QLTY MUN INC	285,392	$3,730	0.2%	$11.79	—	COM	67072B107
—	FEDERATED HERMES PREM MUNI I	234,671	$3,473	0.2%	$12.93	—	COM	31423P108
—	SWISS HELVETIA FD INC	388,389	$3,472	0.2%	$11.37	—	COM	870875101
—	INDIA FD INC	173,697	$3,467	0.2%	$20.09	—	COM	454089103
—	MORGAN STANLEY INDIA INVT FD	159,532	$3,384	0.2%	$18.57	—	COM	61745C105
—	BLACKROCK MUNIHLDS INVSTM QL	238,579	$3,359	0.2%	$13.13	—	COM	09254P108
—	NUVEEN FLOATING RATE INCOME	376,400	$3,290	0.2%	$8.74	—	COM	67072T108
—	NUVEEN FLTNG RTE INCM OPP FD	309,700	$2,682	0.1%	$8.66	—	COM SHS	6706EN100
—	NUVEEN QUALITY MUNCP INCOME	151,835	$2,334	0.1%	$14.05	—	COM	67066V101
XLY	SELECT SECTOR SPDR TR	14,400	$2,315	0.1%	$160.76	—	SBI CONS DISCR	81369Y407
—	VOYA ASIA PAC HIGH DIV EQT I	267,022	$2,304	0.1%	$8.93	—	COM	92912J102
XEVMX	EATON VANCE CALIF MUN BD FD	192,347	$2,260	0.1%	$10.21	—	COM	27828A100
—	NUVEEN INT DUR QUAL MUN TRM	153,139	$2,256	0.1%	$13.70	—	COM	670677103
XFEOX	FIRST TR / ABERDEEN EMERGING	156,145	$2,236	0.1%	$15.41	—	COM	33731K102
—	MORGAN STANLEY EMER MKTS DEB	241,142	$2,233	0.1%	$8.72	—	COM	61744H105
—	MFS MUN INCOME TR	285,889	$1,910	0.1%	$6.18	—	SH BEN INT	552738106
—	NUVEEN SELECT TAX FREE INCOM	117,407	$1,869	0.1%	$13.67	—	SH BEN INT	67063C106
XMUSX	BLACKROCK MUNIHOLDINGS QUALI	140,253	$1,854	0.1%	$12.00	—	COM	09254A101
EWC	ISHARES INC	60,000	$1,850	0.1%	$30.83	—	MSCI CDA ETF	464286509
—	WESTERN ASSET HIGH INCOME OP	370,161	$1,832	0.1%	$4.95	—	COM	95766K109
XENWX	EATON VANCE NEW YORK MUN BD	146,108	$1,794	0.1%	$11.36	—	COM	27827Y109
XHIEX	MILLER HOWARD HIGH INC EQTY	229,661	$1,780	0.1%	$6.11	—	COM SHS BEN IN	600379101
—	TEKLA HEALTHCARE OPPORTUNITI	83,379	$1,699	0.1%	$17.12	—	SHS	879105104
—	WESTERN ASSET MUN PARTNERS F	109,883	$1,643	0.1%	$14.95	—	COM	95766P108
—	WESTERN ASSET MUN DEF OPP TR	77,693	$1,618	0.1%	$19.10	—	COM	95768A109
—	WESTERN ASST INFLTN LKD INM	113,396	$1,547	0.1%	$11.53	—	COM SH BEN INT	95766Q106
—	NUVEEN CALIF MUNICPAL VALUE	97,963	$1,510	0.1%	$14.93	—	COM	6706EB106
—	VOYA GLBL ADV & PREM OPP FD	169,319	$1,482	0.1%	$8.48	—	COM	92912R104
VEU	VANGUARD INTL EQUITY INDEX F	24,900	$1,453	0.1%	$58.35	—	ALLWRLD EX US	922042775
—	ABERDEEN GLOBAL DYNAMIC DIVI	138,450	$1,445	0.1%	$10.18	—	COM	00302M106
—	BLACKROCK NEW YORK MUN INCOM	105,013	$1,431	0.1%	$13.63	—	COM	09249U105
—	WESTERN ASSET MUN HIGH INCOM	189,440	$1,423	0.1%	$7.09	—	COM	95766N103
—	GUGGENHEIM ENHANCED EQUITY I	214,818	$1,407	0.1%	$6.55	—	COM	40167B100
—	EATON VANCE TAX-ADVANTAGED G	53,931	$1,363	0.1%	$21.58	—	COM	27828U106
—	GDL FD	146,878	$1,281	0.1%	$8.24	—	COM SH BEN IT	361570104
—	MFS INVT GRADE MUN TR	123,559	$1,211	0.1%	$9.08	—	SH BEN INT	59318B108
—	NUVEEN CORE EQUITY ALPHA FD	75,607	$1,064	0.1%	$12.88	—	COM	67090X107
—	EATON VANCE SHORT DURATION D	84,248	$1,041	0.1%	$11.46	—	COM	27828V104
—	EATON VANCE NATL MUN OPPORT	47,365	$971	0.0%	$19.53	—	COM SHS	27829L105
—	CLOUGH GLOBAL EQUITY FD	66,549	$913	0.0%	$13.72	—	COM	18914C100
—	HANCOCK JOHN INVT TR	162,449	$898	0.0%	$6.31	—	TAX ADV GLB SH	41013P749
—	LIBERTY ALL STAR EQUITY FD	104,800	$723	0.0%	$5.92	—	SH BEN INT	530158104
—	VOYA INTL HIGH DIV EQTY INM	117,205	$537	0.0%	$4.25	—	COM	92912Y109
—	WELLS FARGO GLOBAL DIVIDEND	90,312	$438	0.0%	$4.85	—	COM	94987C103
—	NUVEEN NASDAQ 100 DYNAMIC OV	6,047	$157	0.0%	$25.96	—	COM SHS	670699107