1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	4,212,971	$284,544	13.7%	$53.50	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	1,384,835	$159,935	7.7%	$111.93	—	BARCLAYS 7 10 YR	464287440
MBB	ISHARES TR	1,261,840	$136,569	6.6%	$108.60	—	MBS ETF	464288588
EZU	ISHARES INC	1,931,816	$95,335	4.6%	$37.29	—	MSCI EURZONE ETF	464286608
GOVT	ISHARES TR	2,973,625	$79,098	3.8%	$27.42	—	US TREAS BD ETF	46429B267
—	ABERDEEN TOTAL DYNAMIC DIVD	7,044,147	$71,639	3.4%	$8.61	—	COM SH BEN INT	00326L100
LQD	ISHARES TR	394,560	$53,013	2.5%	$131.35	—	IBOXX INV CP ETF	464287242
EWL	ISHARES INC	1,045,658	$50,850	2.4%	$36.04	—	MSCI SWITZERLAND	464286749
—	JAPAN SMALLER CAPITALIZATION	5,019,636	$45,277	2.2%	$9.11	—	COM	47109U104
—	ADAMS DIVERSIFIED EQUITY FD	2,156,136	$42,627	2.0%	$13.90	—	COM	006212104
—	WESTERN AST INFL LKD OPP & I	3,136,002	$41,113	2.0%	$11.58	—	COM	95766R104
—	BLACKROCK ENHANCED GLOBAL DI	3,186,768	$39,994	1.9%	$12.62	—	COM	092501105
—	ABERDEEN EMRG MRKTS EQT INM	4,023,278	$36,411	1.8%	$6.91	—	COM	00301W105
—	GENERAL AMERN INVS CO INC	816,886	$35,469	1.7%	$33.41	—	COM	368802104
—	DWS MUN INCOME TR	2,694,682	$32,956	1.6%	$10.97	—	COM	233368109
—	MORGAN STANLEY CHINA A SH FD	1,419,258	$32,458	1.6%	$24.74	—	COM	617468103
—	BLACKROCK ENHANCED INTL DIV	4,915,167	$32,194	1.5%	$5.88	—	COM BENE INTER	092524107
EWA	ISHARES INC	1,154,523	$29,995	1.4%	$24.39	—	MSCI AUST ETF	464286103
XJEQX	ABERDEEN JAPAN EQUITY FD INC	3,285,609	$28,946	1.4%	$7.14	—	COM	00306J109
—	NEW GERMANY FD INC	1,424,232	$28,805	1.4%	$16.17	—	COM	644465106
—	KOREA FD INC	544,416	$25,130	1.2%	$34.56	—	COM NEW	500634209
—	TEMPLETON EMERGING MKTS FD	1,212,816	$24,002	1.2%	$14.64	—	COM	880191101
—	BLACKROCK SCIENCE & TECHNOLO	574,121	$23,947	1.2%	$26.91	—	SHS BEN INT	09260K101
—	TAIWAN FD INC	652,283	$23,048	1.1%	$17.74	—	COM	874036106
—	EUROPEAN EQUITY FD INC	2,022,364	$23,015	1.1%	$7.76	—	COM	298768102
—	BLACKROCK MUNIYIELD QUALITY	1,480,179	$21,981	1.1%	$12.83	—	COM	09254E103
SPY	SPDR S&P 500 ETF TR	44,595	$19,089	0.9%	$275.74	—	TR UNIT	78462F103
—	NUVEEN AMT-FREE MUN VALUE FD	1,078,054	$18,629	0.9%	$15.90	—	COM	670695105
—	CENTRAL SECS CORP	405,104	$17,091	0.8%	$24.48	—	COM	155123102
—	EATON VANCE MUNI INCOME TRUS	1,187,760	$16,664	0.8%	$12.11	—	SH BEN INT	27826U108
—	WESTERN ASSET PREMIER BD FD	1,116,517	$16,435	0.8%	$12.96	—	SHS BEN INT	957664105
—	WESTERN ASSET MANAGED MUNS F	1,194,392	$16,184	0.8%	$12.77	—	COM	95766M105
—	VIRTUS DIVIDEND INTEREST & P	1,070,626	$16,134	0.8%	$13.78	—	COM	92840R101
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	1,131,906	$15,179	0.7%	$12.72	—	COM SHS	33740D107
—	ALLIANCEBERNSTEIN NATL MUN I	986,370	$15,013	0.7%	$13.06	—	COM	01864U106
—	EATON VANCE LTD DURATION INC	1,069,253	$14,178	0.7%	$12.67	—	COM	27828H105
—	WESTERN ASSET INTER MUNI FD	1,450,563	$14,172	0.7%	$8.84	—	COM	958435109
—	HANCOCK JOHN INVS TR	744,226	$14,021	0.7%	$15.38	—	COM	410142103
—	HANCOCK JOHN INCOME SECS TR	843,648	$13,491	0.6%	$13.80	—	COM	410123103
XLK	SELECT SECTOR SPDR TR	91,075	$13,448	0.6%	$106.98	—	TECHNOLOGY	81369Y803
—	SPROTT FOCUS TR INC	1,507,687	$12,823	0.6%	$7.01	—	COM	85208J109
—	TEMPLETON GLOBAL INCOME FD	2,110,365	$11,818	0.6%	$5.73	—	COM	880198106
—	BLACKROCK GLOBAL FLOATING RA	894,973	$11,509	0.6%	$12.19	—	COM	091941104
—	CBRE CLARION GLOBAL REAL EST	1,290,611	$11,370	0.5%	$7.46	—	COM	12504G100
XBFZX	BLACKROCK CALIF MUN INCOME T	742,971	$11,137	0.5%	$13.23	—	SH BEN INT	09248E102
—	EATON VANCE TX ADV GLBL DIV	511,987	$10,752	0.5%	$16.62	—	COM	27828S101
—	MFS INTER INCOME TR	2,847,659	$10,650	0.5%	$3.92	—	SH BEN INT	55273C107
XXCHNXX	CHINA FD INC	342,997	$10,461	0.5%	$20.46	—	COM	169373107
—	VOYA EMERGING MKTS HIGH DIVI	1,158,960	$9,944	0.5%	$8.61	—	COM	92912P108
—	ABERDEEN AUSTRALIA EQUITY FD	1,526,145	$9,859	0.5%	$5.01	—	COM	003011103
—	BLACKROCK HEALTH SCIENCS TR	337,533	$9,761	0.5%	$26.30	—	COM SHS	09260E105
SUB	ISHARES TR	90,500	$9,758	0.5%	$107.82	—	SHRT NAT MUN ETF	464288158
—	ROYCE MICRO-CAP TR INC	780,106	$9,673	0.5%	$7.49	—	COM	780915104
MUB	ISHARES TR	80,100	$9,388	0.5%	$117.20	—	NATIONAL MUN ETF	464288414
—	CENTRAL & EASTERN EUROPE FD	316,880	$8,892	0.4%	$27.53	—	COM	153436100
—	NUVEEN MULTI-MKT INCOME FD	1,183,405	$8,833	0.4%	$7.18	—	COM	67075J107
—	MACQUARIE GLOBAL INFRASTRUCT	381,574	$8,807	0.4%	$18.88	—	COM	55608D101
—	BLACKROCK ENHANCD CAP & INM	414,167	$8,528	0.4%	$14.41	—	COM	09256A109
XMVFX	BLACKROCK MUNIVEST FD INC	869,039	$8,360	0.4%	$9.10	—	COM	09253R105
—	BLACKROCK RES & COMMODITIES	835,284	$7,868	0.4%	$9.91	—	SHS	09257A108
—	DWS STRATEGIC MUN INCOME TR	542,284	$6,827	0.3%	$11.28	—	COM	23342Q101
XEGFX	BLACKROCK ENHANCED GOVT FD I	525,896	$6,805	0.3%	$13.54	—	COM	09255K108
—	DTF TAX-FREE INCOME INC	451,260	$6,769	0.3%	$13.53	—	COM	23334J107
—	TEMPLETON DRAGON FD INC	269,615	$6,398	0.3%	$23.77	—	COM	88018T101
—	NEW IRELAND FD INC	509,020	$6,205	0.3%	$10.25	—	COM	645673104
—	ROYCE VALUE TR INC	307,780	$5,839	0.3%	$11.51	—	COM	780910105
—	NUVEEN DOW 30 DYNMC OVERWRT	339,385	$5,776	0.3%	$13.40	—	SHS	67075F105
—	CREDIT SUISSE HIGH YIELD BD	2,230,840	$5,599	0.3%	$2.41	—	SH BEN INT	22544F103
—	WESTERN ASSET MUN PARTNERS F	330,904	$5,447	0.3%	$15.22	—	COM	95766P108
—	EATON VANCE MUN BD FD	386,138	$5,282	0.3%	$12.30	—	COM	27827X101
—	FIRST TR MTG INCOME FD	380,276	$5,248	0.3%	$15.10	—	COM SHS	33734E103
—	NUVEEN REAL ESTATE INCOME FD	458,964	$5,090	0.2%	$8.89	—	COM	67071B108
—	GUGGENHEIM ENHANCED EQT INCM	566,579	$4,878	0.2%	$7.19	—	COM	40167B100
—	NUVEEN CORPORATE INCM NOVEME	481,300	$4,534	0.2%	$9.21	—	COM	67077N106
—	VOYA GLBL EQTY DIV & PREM OP	733,151	$4,370	0.2%	$5.23	—	COM	92912T100
—	NUVEEN FLOATING RATE INCOME	421,400	$4,222	0.2%	$8.84	—	COM	67072T108
—	NUVEEN S&P 500 BUY-WRITE INC	290,240	$4,171	0.2%	$11.01	—	COM	6706ER101
XLY	SELECT SECTOR SPDR TR	20,400	$3,642	0.2%	$165.99	—	SBI CONS DISCR	81369Y407
—	MEXICO FD INC	239,090	$3,641	0.2%	$15.51	—	COM	592835102
—	NUVEEN FLOATING RATE INCOME	371,800	$3,629	0.2%	$8.80	—	COM SHS	6706EN100
—	SWISS HELVETIA FD INC	353,517	$3,440	0.2%	$11.37	—	COM	870875101
—	MORGAN STANLEY INDIA INVT FD	138,523	$3,417	0.2%	$18.57	—	COM	61745C105
—	NUVEEN GEORGIA QLTY MUN INC	222,220	$3,109	0.1%	$11.81	—	COM	67072B107
AGG	ISHARES TR	24,600	$2,837	0.1%	$113.84	—	CORE US AGGBD ET	464287226
—	PGIM SHORT DUR HIG YLD OPP F	137,859	$2,741	0.1%	$19.88	—	COM	69355J104
XHIEX	MILLER HOWARD HIGH INC EQTY	227,461	$2,384	0.1%	$6.11	—	COM SHS BEN IN	600379101
—	TEKLA LIFE SCIENCES INVS	110,901	$2,378	0.1%	$16.83	—	SH BEN INT	87911K100
—	INDIA FD INC	103,152	$2,265	0.1%	$20.09	—	COM	454089103
—	BLACKROCK MUNIHOLDINGS QUALI	157,259	$2,203	0.1%	$12.16	—	COM	09254C107
XEVMX	EATON VANCE CALIF MUN BD FD	175,359	$2,097	0.1%	$10.21	—	COM	27828A100
—	NUVEEN INT DUR QUAL MUN TRM	137,643	$2,063	0.1%	$13.70	—	COM	670677103
—	WESTERN ASSET HIGH INCOME OP	371,361	$1,961	0.1%	$4.95	—	COM	95766K109
—	NUVEEN SELECT MAT MUN FD	174,654	$1,916	0.1%	$9.78	—	SH BEN INT	67061T101
—	NUVEEN CALIFORNIA MUNI VLU F	176,911	$1,893	0.1%	$10.23	—	COM STK	67062C107
XENWX	EATON VANCE NEW YORK MUN BD	142,159	$1,827	0.1%	$11.36	—	COM	27827Y109
—	BLACKROCK MUNIHLDS INVSTM QL	111,411	$1,646	0.1%	$13.13	—	COM	09254P108
—	FEDERATED HERMES PREM MUNI I	104,126	$1,630	0.1%	$12.93	—	COM	31423P108
—	ABERDEEN GLOBAL DYNAMIC DIVI	131,050	$1,573	0.1%	$10.18	—	COM	00302M106
EWC	ISHARES INC	41,900	$1,562	0.1%	$32.06	—	MSCI CDA ETF	464286509
—	BLACKROCK MUNIHOLDINGS FD IN	87,294	$1,465	0.1%	$16.00	—	COM	09253N104
—	MFS MUN INCOME TR	199,834	$1,427	0.1%	$6.18	—	SH BEN INT	552738106
XMUIX	BLACKROCK MUNI INTER DR FD I	83,846	$1,311	0.1%	$13.20	—	COM	09253X102
—	MFS INVT GRADE MUN TR	122,859	$1,263	0.1%	$9.08	—	SH BEN INT	59318B108
—	WELLS FARGO GLOBAL DIVID OPP	206,232	$1,192	0.1%	$5.16	—	COM	94987C103
—	EATON VANCE TAX-ADVANTAGED G	38,615	$1,131	0.1%	$22.52	—	COM	27828U106
XBNYX	BLACKROCK N Y MUN INCOME TRU	68,948	$1,041	0.1%	$15.10	—	SH BEN INT	09248L106
—	GDL FD	113,826	$1,032	0.0%	$8.24	—	COM SH BEN IT	361570104
—	VOYA GLBL ADV & PREM OPP FD	102,827	$1,009	0.0%	$8.48	—	COM	92912R104
—	LMP CAP & INCOME FD INC	60,323	$870	0.0%	$12.70	—	COM	50208A102
—	NUVEEN CORE EQUITY ALPHA FD	41,058	$675	0.0%	$12.88	—	COM	67090X107
—	BRANDYWINEGBL GBL INCM OPP F	38,400	$484	0.0%	$12.05	—	COM	10537L104
XFEOX	FIRST TR / ABERDEEN EMERGING	28,736	$434	0.0%	$15.41	—	COM	33731K102
—	NUVEEN N Y MUN VALUE FD	41,981	$422	0.0%	$9.94	—	COM	67062M105
—	NUVEEN TAX-ADVANTAGED DIVID	12,732	$205	0.0%	$16.10	—	COM	67073G105
—	CUSHING MLP & INFRASTRUCT	6,441	$190	0.0%	$29.50	—	COM NEW	231631300
—	BLACKROCK ENHANCED EQUITY DI	8,300	$84	0.0%	$8.14	—	COM	09251A104