1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	2,798,110	$147,824	10.1%	$53.50	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	962,200	$98,433	6.7%	$111.93	—	7-10 YR TRSY BD	464287440
EZU	ISHARES INC	1,910,966	$69,464	4.7%	$37.29	—	MSCI EURZONE ETF	464286608
GOVT	ISHARES TR	2,477,325	$59,208	4.0%	$27.28	—	US TREAS BD ETF	46429B267
EWL	ISHARES INC	1,170,158	$48,597	3.3%	$40.31	—	MSCI SWITZERLAND	464286749
—	ADAMS DIVERSIFIED EQUITY FD	2,465,240	$37,817	2.6%	$14.16	—	COM	006212104
—	ABERDEEN TOTAL DYNAMIC DIVD	4,422,185	$35,731	2.4%	$8.61	—	COM SH BEN INT	00326L100
—	GENERAL AMERN INVS CO INC	1,009,014	$35,679	2.4%	$34.44	—	COM	368802104
—	JAPAN SMALLER CAPITALIZATION	4,702,525	$29,720	2.0%	$9.11	—	COM	47109U104
—	WESTERN AST INFL LKD OPP & I	2,616,794	$27,555	1.9%	$11.58	—	COM	95766R104
SPY	SPDR S&P 500 ETF TR	72,595	$27,386	1.9%	$319.89	—	TR UNIT	78462F103
—	MFS INTER INCOME TR	9,081,562	$26,972	1.8%	$3.15	—	SH BEN INT	55273C107
—	BLACKROCK ENHANCED GLOBAL DI	2,567,875	$25,088	1.7%	$12.59	—	COM	092501105
—	DWS MUN INCOME TR	2,572,089	$24,178	1.6%	$10.97	—	COM	233368109
—	WESTERN ASSET DIVERSIFIED IN	1,705,758	$23,642	1.6%	$17.42	—	COM SHS BEN INT	95790K109
—	PGIM SHORT DUR HIG YLD OPP F	1,475,203	$21,995	1.5%	$17.24	—	COM	69355J104
EWA	ISHARES INC	1,035,398	$21,971	1.5%	$24.93	—	MSCI AUST ETF	464286103
—	MORGAN STANLEY CHINA A SH FD	1,228,316	$20,795	1.4%	$24.74	—	COM	617468103
—	NUVEEN CORE PLUS IMPACT FUND	1,717,539	$20,130	1.4%	$17.91	—	COM BEN INT	67080D103
—	NUVEEN MUN VALUE FD INC	2,202,674	$19,670	1.3%	$9.47	—	COM	670928100
—	NUVEEN AMT-FREE MUN VALUE FD	1,387,774	$19,637	1.3%	$15.52	—	COM	670695105
—	ABRDN EMRG MKTS EQTY INCM FD	3,501,226	$19,327	1.3%	$6.91	—	COM	00301W105
—	BLACKROCK ENHANCED INTL DIV	3,801,237	$19,234	1.3%	$5.88	—	COM BENE INTER	092524107
—	WESTERN ASSET INVT GRADE DEF	1,070,362	$18,057	1.2%	$18.08	—	COM	95790A101
LQD	ISHARES TR	163,600	$18,001	1.2%	$132.03	—	IBOXX INV CP ETF	464287242
XJEQX	ABRDN JAPAN EQUITY FUND INC	3,156,665	$17,583	1.2%	$7.14	—	COM	00306J109
XXINSIXX	INSIGHT SELECT INCOME FD	983,165	$15,799	1.1%	$17.34	—	COM	45781W109
—	TAIWAN FD INC	616,594	$15,489	1.1%	$17.74	—	COM	874036106
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	1,326,187	$14,760	1.0%	$12.71	—	COM SHS	33740D107
—	VIRTUS DIVIDEND INTEREST & P	1,239,028	$14,298	1.0%	$13.49	—	COM	92840R101
—	BLACKROCK HEALTH SCIENCS TR	836,082	$13,737	0.9%	$19.74	—	COM SHS	09260E105
—	EUROPEAN EQUITY FD INC	1,895,710	$13,535	0.9%	$7.76	—	COM	298768102
—	WESTERN ASSET MANAGED MUNS F	1,271,890	$13,444	0.9%	$12.63	—	COM	95766M105
—	INVESCO BD FD	801,966	$13,048	0.9%	$17.05	—	COM	46132L107
—	TEMPLETON EMERGING MKTS FD	1,073,391	$12,859	0.9%	$14.64	—	COM	880191101
—	KOREA FD INC	492,702	$11,996	0.8%	$34.56	—	COM NEW	500634209
—	NUVEEN SELECT TAX-FREE INCOM	862,138	$11,803	0.8%	$14.22	—	SH BEN INT	67062F100
—	NEW GERMANY FD INC	1,371,027	$11,565	0.8%	$16.01	—	COM	644465106
—	CENTRAL SECS CORP	321,958	$11,336	0.8%	$24.48	—	COM	155123102
—	BLACKROCK SCIENCE & TECHNOLO	570,030	$11,167	0.8%	$25.88	—	SHS BEN INT	09260K101
—	WESTERN ASSET INTER MUNI FD	1,370,746	$11,048	0.8%	$8.84	—	COM	958435109
—	WESTERN ASSET PREMIER BD FD	1,000,682	$10,587	0.7%	$12.81	—	SHS BEN INT	957664105
—	HANCOCK JOHN INCOME SECS TR	929,756	$10,581	0.7%	$13.41	—	COM	410123103
XEGFX	BLACKROCK ENHANCED GOVT FD I	989,483	$10,393	0.7%	$12.31	—	COM	09255K108
—	MACQUARIE GLOBAL INFRASTRUCT	403,925	$9,371	0.6%	$19.43	—	COM	55608D101
—	MFS GOVT MKTS INCOME TR	2,625,862	$9,243	0.6%	$3.58	—	SH BEN INT	552939100
—	TCW STRATEGIC INCOME FD INC	1,844,761	$8,910	0.6%	$4.87	—	COM	872340104
—	BLACKROCK MUNIYIELD QUALITY	743,532	$8,670	0.6%	$12.83	—	COM	09254E103
—	ROYCE MICRO-CAP TR INC	1,010,526	$8,448	0.6%	$7.85	—	COM	780915104
—	BLACKROCK CR ALLOCATION INCO	768,000	$8,364	0.6%	$10.89	—	COM	092508100
XLI	SELECT SECTOR SPDR TR	87,935	$7,680	0.5%	$98.93	—	SBI INT-INDS	81369Y704
—	CREDIT SUISSE HIGH YIELD BD	4,009,144	$7,577	0.5%	$2.22	—	SH BEN INT	22544F103
—	WESTERN ASSET INVESTMENT GRA	625,176	$7,546	0.5%	$12.62	—	COM	95766T100
—	NUVEEN MULTI-MKT INCOME FD	1,233,396	$7,524	0.5%	$7.15	—	COM	67075J107
XBFZX	BLACKROCK CALIF MUN INCOME T	633,563	$7,178	0.5%	$13.23	—	SH BEN INT	09248E102
—	DTF TAX-FREE INCOME 2028 TER	597,955	$7,080	0.5%	$13.73	—	COM	23334J107
—	EATON VANCE NATL MUN OPPORT	379,967	$6,798	0.5%	$17.94	—	COM SHS	27829L105
—	SPROTT FOCUS TR INC	893,432	$6,754	0.5%	$7.01	—	COM	85208J109
—	NEUBERGER BERMAN NEXT GENERA	657,072	$6,518	0.4%	$13.05	—	COMMON STOCK	64133Q108
—	PUTNAM PREMIER INCOME TR	1,713,031	$6,510	0.4%	$3.88	—	SH BEN INT	746853100
—	FRANKLIN LTD DURATION INCOME	935,467	$6,324	0.4%	$6.76	—	COM	35472T101
XMVFX	BLACKROCK MUNIVEST FD INC	802,239	$5,977	0.4%	$9.10	—	COM	09253R105
SUB	ISHARES TR	55,800	$5,841	0.4%	$107.82	—	SHRT NAT MUN ETF	464288158
—	VOYA EMERGING MKTS HIGH DIVI	947,953	$5,460	0.4%	$8.61	—	COM	92912P108
—	EATON VANCE MUNI INCOME TRUS	481,244	$5,265	0.4%	$12.11	—	SH BEN INT	27826U108
—	NUVEEN CALIFORNIA MUNI VLU F	597,113	$5,213	0.4%	$9.36	—	COM STK	67062C107
SRLN	SSGA ACTIVE ETF TR	123,732	$5,152	0.4%	$45.08	—	BLACKSTONE SENR	78467V608
—	DWS STRATEGIC MUN INCOME TR	542,155	$4,944	0.3%	$10.87	—	COM	23342Q101
—	NUVEEN MUN INCOME FD INC	531,837	$4,925	0.3%	$9.59	—	COM	67062J102
—	NUVEEN SELECT MAT MUN FD	527,753	$4,845	0.3%	$9.27	—	SH BEN INT	67061T101
XHIEX	MILLER HOWARD HIGH INC EQTY	500,213	$4,657	0.3%	$8.27	—	COM SHS BEN IN	600379101
—	WESTERN ASSET MUN PARTNERS F	341,702	$4,275	0.3%	$14.96	—	COM	95766P108
XLV	SELECT SECTOR SPDR TR	32,500	$4,168	0.3%	$135.33	—	SBI HEALTHCARE	81369Y209
—	ALLIANCEBERNSTEIN NATL MUN I	359,771	$4,163	0.3%	$13.06	—	COM	01864U106
—	FIRST TR MTG INCOME FD	346,676	$4,039	0.3%	$15.10	—	COM SHS	33734E103
—	BLACKROCK INNOVATION AND GRW	507,000	$4,026	0.3%	$9.80	—	SHS BEN INT	09260Q108
—	BLACKROCK ESG CAP ALLC TR	268,111	$3,837	0.3%	$16.67	—	SHS BEN INT	09262F100
—	NEW IRELAND FD INC	480,511	$3,806	0.3%	$10.21	—	COM	645673104
—	WESTERN ASSET HIGH INCOME OP	927,658	$3,674	0.3%	$4.44	—	COM	95766K109
XMIOX	PIONEER MUN HIGH INCOME OPPO	295,447	$3,578	0.2%	$17.10	—	COMMON STOCK	723760104
MUB	ISHARES TR	30,068	$3,198	0.2%	$116.68	—	NATIONAL MUN ETF	464288414
—	PUTNAM MASTER INTER INCOME T	934,172	$3,186	0.2%	$3.52	—	SH BEN INT	746909100
—	ABRDN AUSTRALIA EQUITY FD IN	686,303	$3,164	0.2%	$5.01	—	COM	003011103
XXCHNXX	CHINA FD INC	198,994	$3,094	0.2%	$20.46	—	COM	169373107
—	TEMPLETON DRAGON FD INC	208,606	$2,975	0.2%	$23.77	—	COM	88018T101
XNXNX	NUVEEN N Y SELECT TAX FREE I	250,528	$2,919	0.2%	$11.90	—	SH BEN INT	67063V104
—	BLACKROCK INCOME TR INC	630,569	$2,863	0.2%	$4.54	—	COM	09247F100
—	CUSHING MLP & INFRASTRUCT	100,026	$2,779	0.2%	$29.33	—	COM NEW	231631300
—	MEXICO FD INC	185,851	$2,682	0.2%	$15.51	—	COM	592835102
—	BLACKROCK CAP ALLOCATION TR	178,100	$2,609	0.2%	$17.44	—	COM	09260U109
—	SWISS HELVETIA FD INC	329,945	$2,593	0.2%	$11.37	—	COM	870875101
USHY	ISHARES TR	74,900	$2,593	0.2%	$40.68	—	BROAD USD HIGH	46435U853
—	MORGAN STANLEY INDIA INVT FD	104,080	$2,326	0.2%	$18.57	—	COM	61745C105
—	BLACKROCK MUNI INCOME TR II	208,052	$2,299	0.2%	$11.05	—	COM	09249N101
—	VOYA GLBL EQTY DIV & PREM OP	413,610	$2,275	0.2%	$5.23	—	COM	92912T100
EFA	ISHARES TR	35,500	$2,218	0.2%	$62.48	—	MSCI EAFE ETF	464287465
XLK	SELECT SECTOR SPDR TR	16,875	$2,145	0.1%	$106.98	—	TECHNOLOGY	81369Y803
—	NUVEEN N Y MUN VALUE FD	251,456	$2,140	0.1%	$8.81	—	COM	67062M105
—	FEDERATED HERMES PREM MUNI I	192,884	$2,133	0.1%	$11.41	—	COM	31423P108
—	NUVEEN REAL ESTATE INCOME FD	204,714	$1,924	0.1%	$8.89	—	COM	67071B108
—	FIRST TR HIGH YIELD OPPRT 20	128,400	$1,866	0.1%	$14.92	—	COM	33741Q107
XEVMX	EATON VANCE CALIF MUN BD FD	197,854	$1,834	0.1%	$10.02	—	COM	27828A100
—	NUVEEN DOW 30 DYNMC OVERWRT	118,023	$1,803	0.1%	$13.40	—	SHS	67075F105
—	BNY MELLON MUN INCOME INC	256,541	$1,732	0.1%	$7.18	—	COM	05589T104
—	COHEN & STEERS TAX ADVAN PFD	82,400	$1,571	0.1%	$22.57	—	COM	19249X108
—	MAINSTAY CBRE GBL INFRSTR ME	98,051	$1,558	0.1%	$16.56	—	COM	56064Q107
XPHDX	PIONEER FLOATING RATE FUND I	174,606	$1,551	0.1%	$8.88	—	COM	72369J102
XENWX	EATON VANCE NEW YORK MUN BD	162,052	$1,509	0.1%	$11.11	—	COM	27827Y109
—	GABELLI DIVID & INCOME TR	71,580	$1,464	0.1%	$20.45	—	COM	36242H104
—	BLACKROCK SCIENCE & TECHNOLO	45,038	$1,463	0.1%	$50.28	—	SHS	09258G104
—	BLACKROCK CORE BD TR	117,755	$1,333	0.1%	$11.32	—	SHS BEN INT	09249E101
—	NUVEEN MORTGAGE AND INCOME F	77,824	$1,285	0.1%	$17.21	—	COM	670735109
—	WESTERN ASSET HIGH YIELD DEF	99,871	$1,216	0.1%	$12.80	—	COM	95768B107
—	BLACKROCK ENHANCD CAP & INM	68,461	$1,204	0.1%	$14.41	—	COM	09256A109
XNDPX	TORTOISE ENERGY INDEPENDENC	43,851	$1,190	0.1%	$27.14	—	COM	89148K200
—	THORNBURG INCM BUILDER OPP T	77,434	$1,124	0.1%	$16.05	—	COM	885213108
—	BLACKROCK FLOATING RATE INC	99,425	$1,096	0.1%	$11.02	—	COM	091941104
—	VIRTUS GLOBAL MULTI-SECTOR I	131,223	$1,084	0.1%	$8.26	—	COM	92829B101
—	CENTRAL & EASTERN EUROPE FD	105,650	$1,052	0.1%	$27.16	—	COM	153436100
—	GAMCO NAT RES GOLD & INCOME	219,047	$1,027	0.1%	$5.32	—	SH BEN INT	36465E101
—	WESTERN ASSET MUN HIGH INCOM	152,883	$1,004	0.1%	$6.57	—	COM	95766N103
XMHIX	PIONEER MUNICIPAL HIGH INCOM	103,582	$961	0.1%	$10.97	—	COM SHS	723763108
—	VIRTUS CONVERTIBLE & INC FD	287,801	$909	0.1%	$4.14	—	COM	92838U108
—	LMP CAP & INCOME FD INC	71,923	$886	0.1%	$12.63	—	COM	50208A102
—	MFS INVT GRADE MUN TR	106,735	$809	0.1%	$9.08	—	SH BEN INT	59318B108
—	NUVEEN GEORGIA QLTY MUN INC	60,063	$643	0.0%	$11.81	—	COM	67072B107
—	NEUBERGER BERMAN MUN FD INC	40,984	$459	0.0%	$11.20	—	COM	64124P101
MBB	ISHARES TR	3,900	$380	0.0%	$108.56	—	MBS ETF	464288588
—	NUVEEN INT DUR QUAL MUN TRM	18,915	$241	0.0%	$12.74	—	COM	670677103
—	MFS MULTIMARKET INCOME TR	45,516	$208	0.0%	$4.57	—	SH BEN INT	552737108
—	NUVEEN CALIF SELECT TAX FREE	7,700	$105	0.0%	$13.64	—	SH BEN INT	67063R103
ACWX	ISHARES TR	1,650	$74	0.0%	$44.85	—	MSCI ACWI EX US	464288240