1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	3,532,021	$217,608	12.7%	$53.50	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	962,600	$103,451	6.1%	$111.93	—	BARCLAYS 7 10 YR	464287440
EZU	ISHARES INC	1,901,666	$82,285	4.8%	$37.29	—	MSCI EURZONE ETF	464286608
GOVT	ISHARES TR	3,025,575	$75,367	4.4%	$27.28	—	US TREAS BD ETF	46429B267
EWL	ISHARES INC	1,527,258	$74,988	4.4%	$40.31	—	MSCI SWITZERLAND	464286749
MBB	ISHARES TR	550,440	$56,073	3.3%	$108.56	—	MBS ETF	464288588
—	ABERDEEN TOTAL DYNAMIC DIVD	5,027,195	$48,311	2.8%	$8.61	—	COM SH BEN INT	00326L100
LQD	ISHARES TR	393,300	$47,566	2.8%	$132.03	—	IBOXX INV CP ETF	464287242
EWA	ISHARES INC	1,649,598	$43,599	2.6%	$24.93	—	MSCI AUST ETF	464286103
—	ADAMS DIVERSIFIED EQUITY FD	2,142,497	$39,508	2.3%	$13.98	—	COM	006212104
—	GENERAL AMERN INVS CO INC	894,253	$37,979	2.2%	$34.33	—	COM	368802104
—	JAPAN SMALLER CAPITALIZATION	4,682,155	$33,524	2.0%	$9.11	—	COM	47109U104
—	WESTERN AST INFL LKD OPP & I	2,704,344	$32,479	1.9%	$11.58	—	COM	95766R104
—	BLACKROCK ENHANCED GLOBAL DI	2,660,377	$30,089	1.8%	$12.59	—	COM	092501105
—	DWS MUN INCOME TR	2,571,889	$26,773	1.6%	$10.97	—	COM	233368109
SRLN	SSGA ACTIVE ETF TR	592,032	$26,618	1.6%	$45.08	—	BLACKSTONE SENR	78467V608
—	NUVEEN CORE PLUS IMPACT FUND	1,703,139	$25,598	1.5%	$17.91	—	COM BEN INT	67080D103
—	ABERDEEN EMRG MRKTS EQT INM	3,554,392	$24,063	1.4%	$6.91	—	COM	00301W105
—	WESTERN ASSET DIVERSIFIED IN	1,442,120	$23,377	1.4%	$18.07	—	COM SHS BEN INT	95790K109
XJEQX	ABERDEEN JAPAN EQUITY FD INC	3,160,683	$21,998	1.3%	$7.14	—	COM	00306J109
—	BLACKROCK ENHANCED INTL DIV	3,797,237	$21,834	1.3%	$5.88	—	COM BENE INTER	092524107
SPY	SPDR S&P 500 ETF TR	46,395	$20,954	1.2%	$287.50	—	TR UNIT	78462F103
—	TAIWAN FD INC	626,357	$20,607	1.2%	$17.74	—	COM	874036106
—	MORGAN STANLEY CHINA A SH FD	1,242,143	$20,309	1.2%	$24.74	—	COM	617468103
—	PGIM SHORT DUR HIG YLD OPP F	1,050,389	$17,573	1.0%	$18.18	—	COM	69355J104
—	NUVEEN MUN VALUE FD INC	1,820,963	$17,445	1.0%	$9.58	—	COM	670928100
—	EUROPEAN EQUITY FD INC	1,884,510	$17,281	1.0%	$7.76	—	COM	298768102
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	1,304,987	$16,482	1.0%	$12.74	—	COM SHS	33740D107
—	NUVEEN AMT-FREE MUN VALUE FD	1,111,941	$16,412	1.0%	$15.86	—	COM	670695105
—	NEW GERMANY FD INC	1,353,864	$15,475	0.9%	$16.11	—	COM	644465106
—	VIRTUS DIVIDEND INTEREST & P	1,073,126	$15,442	0.9%	$13.79	—	COM	92840R101
—	TEMPLETON EMERGING MKTS FD	1,090,391	$14,993	0.9%	$14.64	—	COM	880191101
—	KOREA FD INC	491,302	$14,788	0.9%	$34.56	—	COM NEW	500634209
—	WESTERN ASSET MANAGED MUNS F	1,189,442	$13,821	0.8%	$12.77	—	COM	95766M105
—	CENTRAL SECS CORP	333,771	$13,815	0.8%	$24.48	—	COM	155123102
—	WESTERN ASSET INVT GRADE DEF	699,462	$13,094	0.8%	$18.72	—	COM	95790A101
—	BLACKROCK SCIENCE & TECHNOLO	435,868	$12,801	0.7%	$27.82	—	SHS BEN INT	09260K101
XXINSIXX	INSIGHT SELECT INCOME FD	692,365	$12,373	0.7%	$17.87	—	COM	45781W109
—	WESTERN ASSET INTER MUNI FD	1,361,746	$11,697	0.7%	$8.84	—	COM	958435109
—	BLACKROCK MUNIYIELD QUALITY	920,899	$11,557	0.7%	$12.83	—	COM	09254E103
—	WESTERN ASSET PREMIER BD FD	946,682	$11,360	0.7%	$12.94	—	SHS BEN INT	957664105
—	HANCOCK JOHN INCOME SECS TR	778,597	$10,628	0.6%	$13.80	—	COM	410123103
XEGFX	BLACKROCK ENHANCED GOVT FD I	903,783	$10,014	0.6%	$12.48	—	COM	09255K108
USHY	ISHARES TR	255,500	$9,929	0.6%	$40.68	—	BROAD USD HIGH	46435U853
MUB	ISHARES TR	84,668	$9,283	0.5%	$116.68	—	NATIONAL MUN ETF	464288414
—	SPROTT FOCUS TR INC	1,019,712	$9,249	0.5%	$7.01	—	COM	85208J109
—	MACQUARIE GLOBAL INFRASTRUCT	352,011	$9,054	0.5%	$18.88	—	COM	55608D101
XBFZX	BLACKROCK CALIF MUN INCOME T	712,971	$8,755	0.5%	$13.23	—	SH BEN INT	09248E102
—	ROYCE MICRO-CAP TR INC	830,396	$8,736	0.5%	$7.74	—	COM	780915104
—	NUVEEN SELECT TAX-FREE INCOM	595,288	$8,590	0.5%	$14.46	—	SH BEN INT	67062F100
—	INVESCO BD FD	479,066	$8,393	0.5%	$17.58	—	COM	46132L107
XLI	SELECT SECTOR SPDR TR	78,935	$8,129	0.5%	$100.25	—	SBI INT-INDS	81369Y704
—	NUVEEN MULTI-MKT INCOME FD	1,233,396	$8,017	0.5%	$7.15	—	COM	67075J107
—	BLACKROCK SCIENCE & TECHNOLO	185,185	$8,013	0.5%	$50.28	—	SHS	09258G104
—	MFS INTER INCOME TR	2,514,024	$7,919	0.5%	$3.63	—	SH BEN INT	55273C107
—	DTF TAX-FREE INCOME 2028 TER	594,655	$7,725	0.5%	$13.73	—	COM	23334J107
—	BLACKROCK HEALTH SCIENCS TR	358,024	$7,182	0.4%	$24.16	—	COM SHS	09260E105
XMVFX	BLACKROCK MUNIVEST FD INC	822,239	$6,709	0.4%	$9.10	—	COM	09253R105
—	VOYA EMERGING MKTS HIGH DIVI	960,253	$6,434	0.4%	$8.61	—	COM	92912P108
—	EATON VANCE MUNI INCOME TRUS	529,989	$6,275	0.4%	$12.11	—	SH BEN INT	27826U108
—	CREDIT SUISSE HIGH YIELD BD	2,843,797	$6,199	0.4%	$2.36	—	SH BEN INT	22544F103
—	ALLIANCEBERNSTEIN NATL MUN I	481,871	$6,067	0.4%	$13.06	—	COM	01864U106
SUB	ISHARES TR	55,800	$5,837	0.3%	$107.82	—	SHRT NAT MUN ETF	464288158
—	ABERDEEN AUSTRALIA EQUITY FD	821,065	$5,164	0.3%	$5.01	—	COM	003011103
XLK	SELECT SECTOR SPDR TR	31,875	$5,066	0.3%	$106.98	—	TECHNOLOGY	81369Y803
—	NEUBERGER BERMAN NEXT GENERA	358,155	$4,996	0.3%	$15.66	—	COMMON STOCK	64133Q108
—	DWS STRATEGIC MUN INCOME TR	465,501	$4,813	0.3%	$11.16	—	COM	23342Q101
XMIOX	PIONEER MUN HIGH INCOME OPPO	295,447	$4,396	0.3%	$17.10	—	COMMON STOCK	723760104
—	NUVEEN REAL ESTATE INCOME FD	369,885	$4,368	0.3%	$8.89	—	COM	67071B108
—	NEW IRELAND FD INC	471,916	$4,365	0.3%	$10.25	—	COM	645673104
—	FIRST TR MTG INCOME FD	345,276	$4,271	0.3%	$15.10	—	COM SHS	33734E103
—	WESTERN ASSET MUN PARTNERS F	309,561	$4,170	0.2%	$15.22	—	COM	95766P108
—	NUVEEN DOW 30 DYNMC OVERWRT	249,358	$4,142	0.2%	$13.40	—	SHS	67075F105
—	CENTRAL & EASTERN EUROPE FD	295,665	$3,959	0.2%	$27.16	—	COM	153436100
—	BLACKROCK ESG CAP ALLC TR	237,511	$3,957	0.2%	$16.98	—	SHS BEN INT	09262F100
—	VOYA GLBL EQTY DIV & PREM OP	647,158	$3,792	0.2%	$5.23	—	COM	92912T100
XHIEX	MILLER HOWARD HIGH INC EQTY	328,160	$3,662	0.2%	$7.72	—	COM SHS BEN IN	600379101
XLV	SELECT SECTOR SPDR TR	26,300	$3,603	0.2%	$137.00	—	SBI HEALTHCARE	81369Y209
—	MEXICO FD INC	194,951	$3,232	0.2%	$15.51	—	COM	592835102
—	NUVEEN CALIFORNIA MUNI VLU F	338,195	$3,098	0.2%	$9.84	—	COM STK	67062C107
—	SWISS HELVETIA FD INC	330,865	$3,051	0.2%	$11.37	—	COM	870875101
XXCHNXX	CHINA FD INC	206,619	$3,050	0.2%	$20.46	—	COM	169373107
—	WESTERN ASSET INVESTMENT GRA	220,876	$3,011	0.2%	$13.63	—	COM	95766T100
—	TEMPLETON DRAGON FD INC	223,925	$2,998	0.2%	$23.77	—	COM	88018T101
—	PUTNAM PREMIER INCOME TR	711,385	$2,838	0.2%	$3.99	—	SH BEN INT	746853100
—	MORGAN STANLEY INDIA INVT FD	108,280	$2,719	0.2%	$18.57	—	COM	61745C105
—	WESTERN ASSET HIGH INCOME OP	526,458	$2,353	0.1%	$4.80	—	COM	95766K109
—	MFS GOVT MKTS INCOME TR	610,867	$2,309	0.1%	$3.78	—	SH BEN INT	552939100
—	NUVEEN MUN INCOME FD INC	229,917	$2,303	0.1%	$10.02	—	COM	67062J102
—	PUTNAM MASTER INTER INCOME T	630,749	$2,258	0.1%	$3.58	—	SH BEN INT	746909100
—	BLACKROCK CAP ALLOCATION TR	127,200	$2,106	0.1%	$18.56	—	COM	09260U109
—	BLACKROCK ENHANCD CAP & INM	97,461	$2,035	0.1%	$14.41	—	COM	09256A109
—	NUVEEN S&P 500 BUY-WRITE INC	124,677	$1,777	0.1%	$11.01	—	COM	6706ER101
—	COHEN & STEERS TAX ADVAN PFD	76,300	$1,676	0.1%	$22.85	—	COM	19249X108
—	BLACKROCK INNOVATION AND GRW	143,908	$1,639	0.1%	$14.49	—	SHS BEN INT	09260Q108
XEVMX	EATON VANCE CALIF MUN BD FD	158,774	$1,594	0.1%	$10.21	—	COM	27828A100
XENWX	EATON VANCE NEW YORK MUN BD	141,859	$1,487	0.1%	$11.36	—	COM	27827Y109
—	CUSHING MLP & INFRASTRUCT	42,281	$1,474	0.1%	$31.44	—	COM NEW	231631300
—	NUVEEN GEORGIA QLTY MUN INC	125,636	$1,462	0.1%	$11.81	—	COM	67072B107
—	BLACKROCK MUNIHLDS INVSTM QL	100,057	$1,227	0.1%	$13.13	—	COM	09254P108
—	NUVEEN SELECT MAT MUN FD	114,502	$1,097	0.1%	$9.58	—	SH BEN INT	67061T101
XMHIX	PIONEER MUNICIPAL HIGH INCOM	103,582	$1,088	0.1%	$10.97	—	COM SHS	723763108
—	TCW STRATEGIC INCOME FD INC	207,400	$1,068	0.1%	$5.15	—	COM	872340104
XNXNX	NUVEEN N Y SELECT TAX FREE I	84,579	$1,047	0.1%	$12.38	—	SH BEN INT	67063V104
—	MFS MUN INCOME TR	167,501	$1,025	0.1%	$6.18	—	SH BEN INT	552738106
—	BNY MELLON MUN INCOME INC	130,249	$989	0.1%	$7.59	—	COM	05589T104
—	MFS INVT GRADE MUN TR	106,735	$912	0.1%	$9.08	—	SH BEN INT	59318B108
—	NUVEEN N Y MUN VALUE FD	99,271	$895	0.1%	$9.28	—	COM	67062M105
—	GAMCO NAT RES GOLD & INCOME	154,074	$861	0.1%	$5.59	—	SH BEN INT	36465E101
—	LMP CAP & INCOME FD INC	58,623	$857	0.1%	$12.70	—	COM	50208A102
—	VIRTUS ALLIANZGI CONVERTIBLE	182,801	$792	0.0%	$4.70	—	COM	92838U108
—	THORNBURG INCM BUILDER OPP T	36,312	$621	0.0%	$17.79	—	COM	885213108
—	NUVEEN MORTGAGE AND INCOME F	31,181	$569	0.0%	$18.25	—	COM	670735109
—	FEDERATED HERMES PREM MUNI I	41,146	$523	0.0%	$12.71	—	COM	31423P108
—	WESTERN ASSET HIGH YIELD DEF	36,571	$508	0.0%	$13.89	—	COM	95768B107
—	INDIA FD INC	24,832	$480	0.0%	$20.09	—	COM	454089103
—	MAINSTAY CBRE GBL INFRSTR ME	21,520	$408	0.0%	$18.96	—	COM	56064Q107
—	FIRST TR HIGH YIELD OPPRT 20	17,400	$303	0.0%	$17.41	—	COM	33741Q107
—	EATON VANCE NATL MUN OPPORT	14,660	$279	0.0%	$19.03	—	COM SHS	27829L105
—	ROYCE VALUE TR INC	14,507	$246	0.0%	$11.51	—	COM	780910105
—	WESTERN ASSET GLOBAL CORP DE	8,000	$119	0.0%	$14.88	—	COM	95790C107
—	NUVEEN CORPORATE INCOME 2023	1,400	$13	0.0%	$9.29	—	COM	67079F101