1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	4,024,175	$275,736	13.3%	$52.84	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	1,375,750	$155,363	7.5%	$111.93	—	BARCLAYS 7 10 YR	464287440
MBB	ISHARES TR	865,640	$93,853	4.5%	$108.77	—	MBS ETF	464288588
EZU	ISHARES INC	1,967,816	$91,366	4.4%	$37.29	—	MSCI EURZONE ETF	464286608
—	ABERDEEN TOTAL DYNAMIC DIVD	7,492,028	$71,399	3.4%	$8.61	—	COM SH BEN INT	00326L100
GOVT	ISHARES TR	2,071,075	$54,241	2.6%	$27.78	—	US TREAS BD ETF	46429B267
—	JAPAN SMALLER CAPITALIZATION	5,230,136	$48,640	2.3%	$9.11	—	COM	47109U104
EWL	ISHARES INC	960,080	$42,445	2.0%	$34.92	—	MSCI SWITZERLAND	464286749
—	BLACKROCK ENHANCED GLOBAL DI	3,679,804	$42,281	2.0%	$12.62	—	COM	092501105
—	ADAMS DIVERSIFIED EQUITY FD	2,151,036	$39,278	1.9%	$13.90	—	COM	006212104
—	WESTERN ASSET / CLAYMORE INF	3,217,517	$39,125	1.9%	$11.58	—	COM	95766R104
—	BLACKROCK ENHANCED INTL DIV	5,952,160	$36,130	1.7%	$5.88	—	COM BENE INTER	092524107
LQD	ISHARES TR	275,510	$35,830	1.7%	$130.05	—	IBOXX INV CP ETF	464287242
—	ABERDEEN EMRG MRKTS EQT INM	4,080,892	$35,300	1.7%	$6.91	—	COM	00301W105
—	MORGAN STANLEY CHINA A SH FD	1,516,209	$34,191	1.7%	$24.74	—	COM	617468103
—	GENERAL AMERN INVS CO INC	816,186	$32,517	1.6%	$33.41	—	COM	368802104
XJEQX	ABERDEEN JAPAN EQUITY FD INC	3,460,834	$31,217	1.5%	$7.14	—	COM	00306J109
—	DWS MUN INCOME TR	2,658,106	$30,967	1.5%	$10.95	—	COM	233368109
—	EATON VANCE LTD DURATION INC	2,380,645	$30,068	1.5%	$12.67	—	COM	27828H105
—	NEW GERMANY FD INC	1,473,009	$29,121	1.4%	$16.17	—	COM	644465106
—	TEMPLETON EMERGING MKTS FD	1,290,776	$24,654	1.2%	$14.64	—	COM	880191101
—	KOREA FD INC	548,626	$23,805	1.1%	$34.56	—	COM NEW	500634209
—	EUROPEAN EQUITY FD INC	2,097,608	$22,349	1.1%	$7.76	—	COM	298768102
—	BLACKROCK SCIENCE & TECH TR	619,286	$22,102	1.1%	$26.91	—	SHS BEN INT	09260K101
—	BLACKROCK MUNIYIELD QUALITY	1,534,057	$21,876	1.1%	$12.83	—	COM	09254E103
EFA	ISHARES TR	279,700	$21,221	1.0%	$75.87	—	MSCI EAFE ETF	464287465
—	MFS INTER INCOME TR	5,214,759	$19,399	0.9%	$3.92	—	SH BEN INT	55273C107
SPY	SPDR S&P 500 ETF TR	48,695	$19,299	0.9%	$275.74	—	TR UNIT	78462F103
—	TAIWAN FD INC	671,141	$18,960	0.9%	$17.74	—	COM	874036106
—	WESTERN ASSET PREMIER BD FD	1,348,817	$18,951	0.9%	$12.96	—	SHS BEN INT	957664105
—	BLACKROCK RES & COMMODITIES	2,135,788	$18,944	0.9%	$9.91	—	SHS	09257A108
—	EATON VANCE MUNI INCOME TRUS	1,321,471	$18,197	0.9%	$12.11	—	SH BEN INT	27826U108
—	ALLIANCEBERNSTEIN NATL MUN I	1,257,179	$17,902	0.9%	$13.06	—	COM	01864U106
—	NUVEEN AMT-FREE MUN VALUE FD	1,062,454	$17,509	0.8%	$15.88	—	COM	670695105
XLK	SELECT SECTOR SPDR TR	124,300	$16,508	0.8%	$106.98	—	TECHNOLOGY	81369Y803
—	HANCOCK JOHN INVS TR	861,826	$15,504	0.7%	$15.38	—	COM	410142103
—	CENTRAL SECS CORP	407,004	$15,430	0.7%	$24.48	—	COM	155123102
—	WESTERN ASSET MANAGED MUNS F	1,181,792	$15,351	0.7%	$12.76	—	COM	95766M105
EWA	ISHARES INC	608,901	$15,095	0.7%	$22.97	—	MSCI AUST ETF	464286103
—	VIRTUS DIVIDEND INTEREST & P	1,078,626	$14,863	0.7%	$13.78	—	COM	92840R101
—	HANCOCK JOHN INCOME SECS TR	933,748	$14,576	0.7%	$13.80	—	COM	410123103
—	CBRE CLARION GLOBAL REAL EST	1,806,698	$14,110	0.7%	$7.46	—	COM	12504G100
—	WESTERN ASSET INTER MUNI FD	1,438,263	$13,361	0.6%	$8.84	—	COM	958435109
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	1,044,662	$13,267	0.6%	$12.66	—	COM SHS	33740D107
—	TEMPLETON GLOBAL INCOME FD	2,452,765	$13,024	0.6%	$5.73	—	COM	880198106
—	ABERDEEN AUSTRALIA EQUITY FD	2,091,640	$12,205	0.6%	$5.01	—	COM	003011103
—	VOYA EMERGING MKTS HIGH DIVI	1,499,551	$11,996	0.6%	$8.61	—	COM	92912P108
—	SPROTT FOCUS TR INC	1,514,804	$11,815	0.6%	$7.01	—	COM	85208J109
—	EATON VANCE TX ADV GLBL DIV	593,483	$11,330	0.5%	$16.62	—	COM	27828S101
—	BLACKROCK HEALTH SCIENCS TR	423,925	$11,149	0.5%	$26.30	—	COM SHS	09260E105
—	BLACKROCK FLOATING RATE INCO	878,573	$10,991	0.5%	$12.17	—	COM	091941104
XXCHNXX	CHINA FD INC	365,887	$10,710	0.5%	$20.46	—	COM	169373107
XBFZX	BLACKROCK CALIF MUN INCOME T	735,971	$10,569	0.5%	$13.23	—	SH BEN INT	09248E102
—	BLACKROCK ENHANCED CAP & INC	524,619	$10,130	0.5%	$14.41	—	COM	09256A109
—	NEW IRELAND FD INC	829,485	$9,357	0.5%	$10.25	—	COM	645673104
—	EATON VANCE MUN BD FD	698,602	$9,291	0.4%	$12.30	—	COM	27827X101
—	ROYCE MICRO-CAP TR INC	779,106	$8,804	0.4%	$7.49	—	COM	780915104
—	MACQUARIE GLOBAL INFRASTRUCT	397,074	$8,680	0.4%	$18.88	—	COM	55608D101
—	NUVEEN MULTI-MKT INCOME FD	1,183,405	$8,597	0.4%	$7.18	—	COM	67075J107
SUB	ISHARES TR	77,700	$8,378	0.4%	$107.82	—	SHRT NAT MUN ETF	464288158
—	VOYA GLBL EQTY DIV & PREM OP	1,439,847	$8,207	0.4%	$5.23	—	COM	92912T100
XMVFX	BLACKROCK MUNIVEST FD INC	858,739	$7,986	0.4%	$9.10	—	COM	09253R105
XMUIX	BLACKROCK MUNI INTER DR FD I	529,762	$7,968	0.4%	$13.20	—	COM	09253X102
—	CENTRAL & EASTERN EUROPE FD	329,196	$7,927	0.4%	$27.53	—	COM	153436100
—	DNP SELECT INCOME FD INC	721,133	$7,125	0.3%	$9.88	—	COM	23325P104
—	TEMPLETON DRAGON FD INC	285,353	$6,720	0.3%	$23.77	—	COM	88018T101
—	DTF TAX-FREE INCOME INC	449,733	$6,454	0.3%	$13.53	—	COM	23334J107
—	EATON VANCE TAX-MANAGED GLOB	693,199	$6,447	0.3%	$6.42	—	COM	27829F108
—	DWS STRATEGIC MUN INCOME TR	536,472	$6,346	0.3%	$11.27	—	COM	23342Q101
XEGFX	BLACKROCK ENHANCED GOVT FD I	486,410	$6,207	0.3%	$13.59	—	COM	09255K108
—	ROYCE VALUE TR INC	309,780	$5,610	0.3%	$11.51	—	COM	780910105
—	FIRST TRUST MORTGAGE INCM FD	412,076	$5,532	0.3%	$15.10	—	COM SHS	33734E103
—	NUVEEN DOW 30 DYNAMIC OVERWR	340,385	$5,531	0.3%	$13.40	—	SHS	67075F105
—	CREDIT SUISSE HIGH YIELD BD	2,186,940	$5,271	0.3%	$2.41	—	SH BEN INT	22544F103
AGG	ISHARES TR	43,800	$4,986	0.2%	$113.84	—	CORE US AGGBD ET	464287226
—	WESTERN ASSET MUN PARTNERS F	324,564	$4,972	0.2%	$15.19	—	COM	95766P108
XPMAX	PIONEER MUN HIGH INCOME ADVA	399,198	$4,719	0.2%	$10.19	—	COM	723762100
—	NUVEEN SELECT MAT MUN FD	420,061	$4,486	0.2%	$9.78	—	SH BEN INT	67061T101
—	NUVEEN CORPORATE INCM NOVEME	476,600	$4,466	0.2%	$9.21	—	COM	67077N106
—	NUVEEN REAL ESTATE INCOME FD	464,440	$4,454	0.2%	$8.89	—	COM	67071B108
—	BLACKROCK ENHANCED EQUITY DI	470,186	$4,448	0.2%	$8.14	—	COM	09251A104
—	NUVEEN S&P 500 BUY-WRITE INC	314,840	$4,244	0.2%	$11.01	—	COM	6706ER101
—	NUVEEN FLOATING RATE INCOME	421,400	$4,071	0.2%	$8.84	—	COM	67072T108
—	NUVEEN GEORGIA QLTY MUN INC	290,392	$3,778	0.2%	$11.81	—	COM	67072B107
—	MEXICO FD INC	260,290	$3,683	0.2%	$15.51	—	COM	592835102
—	NUVEEN FLTNG RTE INCM OPP FD	369,600	$3,526	0.2%	$8.80	—	COM SHS	6706EN100
—	MORGAN STANLEY INDIA INVT FD	148,097	$3,452	0.2%	$18.57	—	COM	61745C105
—	GUGGENHEIM ENHANCED EQUITY I	472,070	$3,404	0.2%	$6.91	—	COM	40167B100
—	FEDERATED HERMES PREM MUNI I	232,346	$3,376	0.2%	$12.93	—	COM	31423P108
EWC	ISHARES INC	97,100	$3,306	0.2%	$32.06	—	MSCI CDA ETF	464286509
—	BLACKROCK MUNIHOLDINGS QUALI	243,788	$3,267	0.2%	$12.16	—	COM	09254C107
—	SWISS HELVETIA FD INC	366,934	$3,225	0.2%	$11.37	—	COM	870875101
—	TEKLA LIFE SCIENCES INVS	159,743	$3,149	0.2%	$16.83	—	SH BEN INT	87911K100
—	INDIA FD INC	125,676	$2,696	0.1%	$20.09	—	COM	454089103
XLY	SELECT SECTOR SPDR TR	14,400	$2,420	0.1%	$160.76	—	SBI CONS DISCR	81369Y407
XHIEX	MILLER HOWARD HIGH INC EQTY	228,661	$2,195	0.1%	$6.11	—	COM SHS BEN IN	600379101
—	NUVEEN INT DUR QUAL MUN TRM	149,143	$2,186	0.1%	$13.70	—	COM	670677103
—	BLACKROCK MUNIHLDS INVSTM QL	152,191	$2,175	0.1%	$13.13	—	COM	09254P108
—	MORGAN STANLEY EMER MKTS DEB	241,142	$2,161	0.1%	$8.72	—	COM	61744H105
XEVMX	EATON VANCE CALIF MUN BD FD	178,647	$2,079	0.1%	$10.21	—	COM	27828A100
XFEOX	FIRST TR / ABERDEEN EMERGING	141,352	$2,051	0.1%	$15.41	—	COM	33731K102
—	MFS MUN INCOME TR	285,889	$1,950	0.1%	$6.18	—	SH BEN INT	552738106
—	WESTERN ASSET HIGH INCOME OP	371,361	$1,887	0.1%	$4.95	—	COM	95766K109
—	WELLS FARGO GLOBAL DIVID OPP	356,325	$1,874	0.1%	$5.16	—	COM	94987C103
—	TEKLA HEALTHCARE INVS	75,514	$1,843	0.1%	$21.60	—	SH BEN INT	87911J103
XENWX	EATON VANCE NEW YORK MUN BD	146,108	$1,783	0.1%	$11.36	—	COM	27827Y109
—	EATON VANCE TAX-ADVANTAGED G	67,431	$1,771	0.1%	$22.52	—	COM	27828U106
—	NUVEEN CALIFORNIA MUNI VLU F	172,897	$1,767	0.1%	$10.22	—	COM STK	67062C107
—	VOYA ASIA PAC HIGH DIV EQT I	179,381	$1,668	0.1%	$8.93	—	COM	92912J102
—	VOYA GLBL ADV & PREM OPP FD	166,519	$1,594	0.1%	$8.48	—	COM	92912R104
—	LAZARD GLOBAL TOTAL RETURN &	80,377	$1,546	0.1%	$16.02	—	COM	52106W103
—	BLACKROCK NEW YORK MUN INCOM	105,013	$1,510	0.1%	$13.63	—	COM	09249U105
—	ABERDEEN GLOBAL DYNAMIC DIVI	134,450	$1,498	0.1%	$10.18	—	COM	00302M106
—	NUVEEN QUALITY MUNCP INCOME	95,035	$1,439	0.1%	$14.05	—	COM	67066V101
—	BLACKROCK MUNIHOLDINGS QUALI	87,294	$1,397	0.1%	$16.00	—	COM	09253N104
—	WESTERN ASSET MUN DEF OPP TR	61,740	$1,305	0.1%	$19.10	—	COM	95768A109
XAWPX	ABERDEEN GLOBAL PREMIER PPTY	211,733	$1,260	0.1%	$6.08	—	COM SH BEN INT	00302L108
—	MFS INVT GRADE MUN TR	122,859	$1,205	0.1%	$9.08	—	SH BEN INT	59318B108
—	NUVEEN CORE EQUITY ALPHA FD	75,607	$1,150	0.1%	$12.88	—	COM	67090X107
—	GDL FD	125,670	$1,122	0.1%	$8.24	—	COM SH BEN IT	361570104
—	HANCOCK JOHN INVT TR	165,797	$1,064	0.1%	$6.32	—	TAX ADV GLB SH	41013P749
—	CLOUGH GLOBAL EQUITY FD	69,949	$1,063	0.1%	$13.79	—	COM	18914C100
EEM	ISHARES TR	19,000	$1,013	0.0%	$51.67	—	MSCI EMG MKT ETF	464287234
—	LMP CAP & INCOME FD INC	60,323	$766	0.0%	$12.70	—	COM	50208A102
—	MFS GOVT MKTS INCOME TR	173,123	$762	0.0%	$4.54	—	SH BEN INT	552939100
—	VOYA INTL HIGH DIV EQTY INM	128,425	$717	0.0%	$4.37	—	COM	92912Y109
—	WESTERN ASSET MUN HIGH INCOM	82,940	$648	0.0%	$7.09	—	COM	95766N103
—	BRANDYWINEGBL GBL INCM OPP F	38,100	$459	0.0%	$12.05	—	COM	10537L104
—	NUVEEN N Y MUN VALUE FD INC	16,181	$158	0.0%	$9.76	—	COM	67062M105