1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	2,233,510	$109,107	8.4%	$53.50	—	MSCI JPN ETF NEW	46434G822
IEF	ISHARES TR	901,700	$86,554	6.7%	$111.93	—	7-10 YR TRSY BD	464287440
GOVT	ISHARES TR	2,576,825	$58,649	4.5%	$27.11	—	US TREAS BD ETF	46429B267
EZU	ISHARES INC	1,804,666	$57,713	4.5%	$37.29	—	MSCI EURZONE ETF	464286608
EWL	ISHARES INC	1,179,958	$44,189	3.4%	$40.31	—	MSCI SWITZERLAND	464286749
—	ADAMS DIVERSIFIED EQUITY FD	2,506,340	$36,517	2.8%	$14.17	—	COM	006212104
—	GENERAL AMERN INVS CO INC	1,002,462	$33,933	2.6%	$34.44	—	COM	368802104
—	MFS INTER INCOME TR	10,830,162	$30,433	2.4%	$3.10	—	SH BEN INT	55273C107
—	JAPAN SMALLER CAPITALIZATION	4,669,524	$27,363	2.1%	$9.11	—	COM	47109U104
—	WESTERN AST INFL LKD OPP & I	2,607,360	$23,649	1.8%	$11.58	—	COM	95766R104
—	PGIM SHORT DUR HIG YLD OPP F	1,577,603	$22,670	1.8%	$17.05	—	COM	69355J104
—	DWS MUN INCOME TR	2,555,722	$21,264	1.6%	$10.97	—	COM	233368109
—	WESTERN ASSET DIVERSIFIED IN	1,679,158	$21,124	1.6%	$17.42	—	COM SHS BEN INT	95790K109
—	BLACKROCK ENHANCED GLOBAL DI	2,389,475	$21,051	1.6%	$12.59	—	COM	092501105
EWA	ISHARES INC	1,049,698	$20,595	1.6%	$24.86	—	MSCI AUST ETF	464286103
SPY	SPDR S&P 500 ETF TR	53,895	$19,250	1.5%	$319.89	—	TR UNIT	78462F103
—	NUVEEN MUN VALUE FD INC	2,195,606	$18,575	1.4%	$9.47	—	COM	670928100
—	NUVEEN AMT-FREE MUN VALUE FD	1,402,761	$18,418	1.4%	$15.50	—	COM	670695105
—	WESTERN ASSET INVT GRADE DEF	1,142,362	$17,478	1.4%	$17.90	—	COM	95790A101
—	NUVEEN CORE PLUS IMPACT FUND	1,687,870	$17,284	1.3%	$17.91	—	COM BEN INT	67080D103
XXINSIXX	INSIGHT SELECT INCOME FD	1,113,565	$17,115	1.3%	$17.11	—	COM	45781W109
—	ABRDN TOTAL DYNAMIC DIVIDEND	2,394,660	$17,098	1.3%	$8.61	—	COM SH BEN INT	00326L100
—	MORGAN STANLEY CHINA A SH FD	1,200,875	$16,224	1.3%	$24.74	—	COM	617468103
—	ABRDN EMRG MKTS EQTY INCM FD	3,449,348	$15,798	1.2%	$6.91	—	COM	00301W105
XJEQX	ABRDN JAPAN EQUITY FUND INC	3,128,673	$15,706	1.2%	$7.14	—	COM	00306J109
—	BLACKROCK HEALTH SCIENCS TR	1,035,676	$15,463	1.2%	$18.81	—	COM SHS	09260E105
—	VIRTUS DIVIDEND INTEREST & P	1,251,028	$13,361	1.0%	$13.49	—	COM	92840R101
—	BLACKROCK ENHANCED INTL DIV	2,842,590	$12,706	1.0%	$5.88	—	COM BENE INTER	092524107
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	1,331,133	$12,699	1.0%	$12.71	—	COM SHS	33740D107
—	TAIWAN FD INC	601,062	$12,628	1.0%	$17.74	—	COM	874036106
—	INVESCO BD FD	858,566	$12,372	1.0%	$16.88	—	COM	46132L107
—	WESTERN ASSET MANAGED MUNS F	1,270,719	$12,326	1.0%	$12.63	—	COM	95766M105
—	EUROPEAN EQUITY FD INC	1,886,092	$11,713	0.9%	$7.76	—	COM	298768102
LQD	ISHARES TR	113,900	$11,669	0.9%	$132.03	—	IBOXX INV CP ETF	464287242
—	NUVEEN SELECT TAX-FREE INCOM	875,768	$11,420	0.9%	$14.20	—	SH BEN INT	67062F100
—	TEMPLETON EMERGING MKTS FD	1,061,594	$11,009	0.9%	$14.64	—	COM	880191101
—	MFS GOVT MKTS INCOME TR	3,200,762	$10,402	0.8%	$3.52	—	SH BEN INT	552939100
—	CENTRAL SECS CORP	307,011	$10,359	0.8%	$24.48	—	COM	155123102
—	WESTERN ASSET INTER MUNI FD	1,390,346	$10,219	0.8%	$8.81	—	COM	958435109
—	HANCOCK JOHN INCOME SECS TR	946,312	$10,059	0.8%	$13.36	—	COM	410123103
—	BLACKROCK SCIENCE & TECHNOLO	564,930	$9,965	0.8%	$25.88	—	SHS BEN INT	09260K101
—	NEW GERMANY FD INC	1,400,447	$9,747	0.8%	$15.82	—	COM	644465106
—	WESTERN ASSET PREMIER BD FD	992,682	$9,718	0.8%	$12.81	—	SHS BEN INT	957664105
XEGFX	BLACKROCK ENHANCED GOVT FD I	992,183	$9,485	0.7%	$12.31	—	COM	09255K108
—	KOREA FD INC	478,185	$9,186	0.7%	$34.56	—	COM NEW	500634209
—	TCW STRATEGIC INCOME FD INC	1,820,199	$8,591	0.7%	$4.87	—	COM	872340104
—	ROYCE MICRO-CAP TR INC	995,859	$7,897	0.6%	$7.85	—	COM	780915104
—	MACQUARIE GLOBAL INFRASTRUCT	406,425	$7,742	0.6%	$19.43	—	COM	55608D101
—	BLACKROCK MUNIYIELD QUALITY	737,032	$7,687	0.6%	$12.83	—	COM	09254E103
SUB	ISHARES TR	71,700	$7,361	0.6%	$106.68	—	SHRT NAT MUN ETF	464288158
—	WESTERN ASSET INVESTMENT GRA	657,552	$7,358	0.6%	$12.55	—	COM	95766T100
—	NUVEEN MULTI-MKT INCOME FD	1,232,696	$7,261	0.6%	$7.15	—	COM	67075J107
—	CREDIT SUISSE HIGH YIELD BD	3,955,144	$6,961	0.5%	$2.22	—	SH BEN INT	22544F103
—	EATON VANCE NATL MUN OPPORT	418,596	$6,886	0.5%	$17.80	—	COM SHS	27829L105
—	BLACKROCK CR ALLOCATION INCO	713,350	$6,805	0.5%	$10.89	—	COM	092508100
—	DTF TAX-FREE INCOME 2028 TER	591,238	$6,563	0.5%	$13.73	—	COM	23334J107
XBFZX	BLACKROCK CALIF MUN INCOME T	629,463	$6,471	0.5%	$13.23	—	SH BEN INT	09248E102
—	PUTNAM PREMIER INCOME TR	1,776,494	$6,360	0.5%	$3.87	—	SH BEN INT	746853100
—	NEUBERGER BERMAN NEXT GENERA	665,672	$6,284	0.5%	$13.00	—	COMMON STOCK	64133Q108
—	NUVEEN SELECT MAT MUN FD	707,532	$6,269	0.5%	$9.16	—	SH BEN INT	67061T101
—	NUVEEN MUN INCOME FD INC	697,215	$6,059	0.5%	$9.37	—	COM	67062J102
—	SPROTT FOCUS TR INC	879,876	$6,054	0.5%	$7.01	—	COM	85208J109
XMVFX	BLACKROCK MUNIVEST FD INC	796,439	$5,288	0.4%	$9.10	—	COM	09253R105
XHIEX	MILLER HOWARD HIGH INC EQTY	565,223	$5,127	0.4%	$8.36	—	COM SHS BEN IN	600379101
—	NUVEEN CALIFORNIA MUNI VLU F	597,713	$4,934	0.4%	$9.36	—	COM STK	67062C107
—	FRANKLIN LTD DURATION INCOME	791,367	$4,891	0.4%	$6.76	—	COM	35472T101
XLI	SELECT SECTOR SPDR TR	55,935	$4,634	0.4%	$98.93	—	SBI INT-INDS	81369Y704
—	VOYA EMERGING MKTS HIGH DIVI	914,972	$4,502	0.3%	$8.61	—	COM	92912P108
—	DWS STRATEGIC MUN INCOME TR	552,255	$4,368	0.3%	$10.82	—	COM	23342Q101
—	WESTERN ASSET HIGH INCOME OP	1,148,607	$4,227	0.3%	$4.29	—	COM	95766K109
XLV	SELECT SECTOR SPDR TR	32,900	$3,985	0.3%	$135.15	—	SBI HEALTHCARE	81369Y209
XNXNX	NUVEEN N Y SELECT TAX FREE I	351,470	$3,898	0.3%	$11.67	—	SH BEN INT	67063V104
—	FIRST TR MTG INCOME FD	340,876	$3,842	0.3%	$15.10	—	COM SHS	33734E103
SRLN	SSGA ACTIVE ETF TR	93,832	$3,835	0.3%	$45.08	—	BLACKSTONE SENR	78467V608
—	WESTERN ASSET MUN PARTNERS F	335,861	$3,762	0.3%	$14.96	—	COM	95766P108
—	BLACKROCK INNOVATION AND GRW	513,900	$3,736	0.3%	$9.77	—	SHS BEN INT	09260Q108
—	BLACKROCK ESG CAP ALLC TR	283,912	$3,637	0.3%	$16.46	—	SHS BEN INT	09262F100
—	EATON VANCE MUNI INCOME TRUS	370,307	$3,618	0.3%	$12.11	—	SH BEN INT	27826U108
—	ALLIANCEBERNSTEIN NATL MUN I	346,437	$3,589	0.3%	$13.06	—	COM	01864U106
XLP	SELECT SECTOR SPDR TR	49,500	$3,303	0.3%	$66.73	—	SBI CONS STPLS	81369Y308
—	CUSHING MLP & INFRASTRUCT	98,626	$3,213	0.2%	$29.33	—	COM NEW	231631300
—	NEW IRELAND FD INC	480,511	$3,157	0.2%	$10.21	—	COM	645673104
—	PUTNAM MASTER INTER INCOME T	926,372	$3,011	0.2%	$3.52	—	SH BEN INT	746909100
XMIOX	PIONEER MUN HIGH INCOME OPPO	295,447	$2,996	0.2%	$17.10	—	COMMON STOCK	723760104
—	BLACKROCK INCOME TRUST INC	704,959	$2,919	0.2%	$4.50	—	COM	09247F100
—	MAINSTAY CBRE GBL INFRSTR ME	232,767	$2,877	0.2%	$14.13	—	COM	56064Q107
MUB	ISHARES TR	27,768	$2,848	0.2%	$116.68	—	NATIONAL MUN ETF	464288414
VTEB	VANGUARD MUN BD FDS	59,100	$2,845	0.2%	$48.14	—	TAX EXEMPT BD	922907746
—	ABRDN AUSTRALIA EQUITY FD IN	699,788	$2,820	0.2%	$4.99	—	COM	003011103
—	NUVEEN N Y MUN VALUE FD	299,276	$2,442	0.2%	$8.71	—	COM	67062M105
—	BLACKROCK CAP ALLOCATION TR	178,100	$2,424	0.2%	$17.44	—	COM	09260U109
—	MORGAN STANLEY INDIA INVT FD	101,480	$2,361	0.2%	$18.57	—	COM	61745C105
—	MEXICO FD INC	179,051	$2,333	0.2%	$15.51	—	COM	592835102
—	FEDERATED HERMES PREM MUNI I	221,064	$2,286	0.2%	$11.27	—	COM	31423P108
—	THORNBURG INCM BUILDER OPP T	178,767	$2,277	0.2%	$14.17	—	COM	885213108
XXCHNXX	CHINA FD INC	192,884	$2,247	0.2%	$20.46	—	COM	169373107
—	SWISS HELVETIA FD INC	322,145	$2,187	0.2%	$11.37	—	COM	870875101
—	BLACKROCK MUNI INCOME TR II	208,052	$2,081	0.2%	$11.05	—	COM	09249N101
—	BNY MELLON MUN INCOME INC	343,016	$2,062	0.2%	$6.88	—	COM	05589T104
XLK	SELECT SECTOR SPDR TR	16,875	$2,004	0.2%	$106.98	—	TECHNOLOGY	81369Y803
—	FIRST TR HIGH YIELD OPPRT 20	148,400	$1,999	0.2%	$14.73	—	COM	33741Q107
—	GAMCO NAT RES GOLD & INCOME	467,244	$1,925	0.1%	$4.68	—	SH BEN INT	36465E101
XPHDX	PIONEER FLOATING RATE FUND I	200,836	$1,731	0.1%	$8.85	—	COM	72369J102
XEVMX	EATON VANCE CALIF MUN BD FD	197,854	$1,684	0.1%	$10.02	—	COM	27828A100
—	WESTERN ASSET MUN HIGH INCOM	260,553	$1,615	0.1%	$6.41	—	COM	95766N103
—	COHEN & STEERS TAX ADVAN PFD	82,400	$1,491	0.1%	$22.57	—	COM	19249X108
—	VOYA GLBL EQTY DIV & PREM OP	276,446	$1,382	0.1%	$5.23	—	COM	92912T100
XENWX	EATON VANCE NEW YORK MUN BD	162,052	$1,369	0.1%	$11.11	—	COM	27827Y109
—	VIRTUS GLOBAL MULTI-SECTOR I	179,623	$1,344	0.1%	$8.05	—	COM	92829B101
—	GABELLI DIVID & INCOME TR	71,580	$1,340	0.1%	$20.45	—	COM	36242H104
—	WESTERN ASSET HIGH YIELD DEF	118,071	$1,324	0.1%	$12.56	—	COM	95768B107
—	NUVEEN MORTGAGE AND INCOME F	77,824	$1,251	0.1%	$17.21	—	COM	670735109
XNDPX	TORTOISE ENERGY INDEPENDENC	43,851	$1,242	0.1%	$27.14	—	COM	89148K200
—	NEUBERGER BERMAN MUN FD INC	122,370	$1,238	0.1%	$10.48	—	COM	64124P101
—	TEKLA LIFE SCIENCES INVS	84,901	$1,160	0.1%	$13.66	—	SH BEN INT	87911K100
—	ALLSPRING UTILITIES AND HIGH	93,985	$1,028	0.1%	$10.94	—	WF UTILITIES INC	94987E109
—	NUVEEN REAL ESTATE INCOME FD	131,605	$1,017	0.1%	$8.89	—	COM	67071B108
—	BLACKSTONE SENIOR FLOATNG RA	68,100	$855	0.1%	$12.56	—	COM	09256U105
XMHIX	PIONEER MUNICIPAL HIGH INCOM	103,582	$850	0.1%	$10.97	—	COM SHS	723763108
—	LMP CAP & INCOME FD INC	71,923	$811	0.1%	$12.63	—	COM	50208A102
—	BNY MELLON HIGH YIELD STRATE	373,142	$787	0.1%	$2.11	—	SH BEN INT	09660L105
USHY	ISHARES TR	23,300	$783	0.1%	$40.68	—	BROAD USD HIGH	46435U853
—	MFS INVT GRADE MUN TR	106,735	$718	0.1%	$9.08	—	SH BEN INT	59318B108
—	CENTRAL & EASTERN EUROPE FD	99,396	$657	0.1%	$27.16	—	COM	153436100
—	TEMPLETON DRAGON FD INC	69,122	$644	0.0%	$23.77	—	COM	88018T101
—	HANCOCK JOHN INVT TR	105,046	$466	0.0%	$4.44	—	TAX ADV GLB SH	41013P749
—	BLACKROCK ENERGY & RES TR	41,649	$449	0.0%	$10.78	—	COM	09250U101
—	NUVEEN GEORGIA QLTY MUN INC	44,384	$424	0.0%	$11.81	—	COM	67072B107
—	NUVEEN INT DUR QUAL MUN TRM	34,092	$407	0.0%	$12.38	—	COM	670677103
—	MFS MULTIMARKET INCOME TR	52,846	$224	0.0%	$4.52	—	SH BEN INT	552737108
—	NUVEEN CALIF SELECT TAX FREE	16,001	$209	0.0%	$13.34	—	SH BEN INT	67063R103
—	NUVEEN INTER DURATION MUN TE	16,414	$203	0.0%	$12.37	—	COM	670671106
XDCFX	BNY MELLON ALCENTRA GLOBAL C	25,000	$171	0.0%	$6.84	—	COM	05588N108
—	BLACKROCK FLOATING RATE INC	12,443	$135	0.0%	$11.02	—	COM	091941104