Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
STC	STEWART INFORMATION SERVICES	613,048	$25.93M	7.0%	$38.27	+3.2%	COM	860372101
—	SWISS HELVETIA FUND	2,013,715	$25.7M	7.0%	$11.73	—	COM	870875101
—	HILL INTERNATIONAL INC	3,373,163	$18.38M	5.0%	$4.25	—	COM	431466101
—	NEW YORK REIT INC	4,176,416	$16.41M	4.5%	$8.74	—	COM	64976L109
XXCHNXX	CHINA FUND INC	700,385	$15.16M	4.1%	$18.59	—	COM	169373107
—	PUTNAM HIGH INCOME SECURITIE	1,655,168	$14.93M	4.1%	$8.19	—	SHS BEN INT	746779107
—	DEUTSCHE HIGH INCOME OPPORT	985,907	$14.81M	4.0%	$13.30	—	COM	25158Y102
—	ABERDEEN CHILE FD INC	1,196,815	$10.69M	2.9%	$7.56	—	COM	00301W105
—	DELAWARE ENHANCED GBL DIV &	836,428	$10.15M	2.8%	$11.03	—	COM	246060107
—	CENTRAL SECS CORP COM	399,077	$10.06M	2.7%	$16.35	—	COM	155123102
—	JAPAN SMALLER CAPTLZTN FD INC	724,064	$8.551M	2.3%	$10.13	—	COM	47109U104
—	MVC CAPITAL INC	802,106	$8.47M	2.3%	$12.69	—	COM	553829102
—	SOURCE CAPITAL INC	181,439	$7.395M	2.0%	$38.85	—	COM	836144105
—	DEUTSCHE MULTI-MARKET INCOME	818,416	$7.243M	2.0%	$8.81	—	SHS	25160E102
—	TRI CONTL CORP COM	263,957	$7.111M	1.9%	$11.64	—	COM	895436103
PHUN	STELLAR ACQUISITION III INC	657,658	$6.715M	1.8%	$10.14	—	COM	Y8172W107
—	TAIWAN FD INC	297,297	$6.211M	1.7%	$20.66	—	COM	874036106
—	INDUSTREA ACQUISITION CORP	600,000	$6.043M	1.6%	$10.11	—	Unit	45579J203
—	LAZARD GLOBAL TOT RT & INC	332,527	$5.985M	1.6%	$13.48	—	COM	52106W103
—	ABERDEEN ISRAEL FUND INC	297,626	$5.694M	1.5%	$19.47	—	COM	00301L109
—	THAI FUND INC COM	519,020	$5.585M	1.5%	$10.76	—	COM	882904105
XJEQX	ABERDEEN JAPAN EQUITY FD	578,783	$5.219M	1.4%	$8.57	—	COM	00306J109
—	KBL MERGER CORP IV	502,000	$5.1M	1.4%	$15.23	—	Unit	48242A203
—	ABERDEEN SINGAPORE FD INC	396,796	$4.928M	1.3%	$9.54	—	COM	003244100
—	CM SEVEN STAR ACQUISTION	506,394	$4.887M	1.3%	$9.65	—	SHS	G2345N102
—	BOULDER GROWTH & INCM FD INC	426,605	$4.731M	1.3%	$7.58	—	COM	101507101
—	MORGAN STANLEY ASIA PAC FD	452,116	$4.456M	1.2%	$9.38	—	COM	61744U106
—	FORUM MERGER CORP	421,422	$4.206M	1.1%	$9.98	—	COM	34984V103
—	GREAT ELM CAP CORP	415,072	$4.084M	1.1%	$11.67	—	COM	390320109
—	M I ACQUISITIONS INC	389,235	$3.966M	1.1%	$10.15	—	COM	55304A104
—	ABERDEEN GTR CHINA FD	311,172	$3.887M	1.1%	$11.81	—	COM	003031101
—	ADAMS EXPRESS COMPANY	239,896	$3.606M	1.0%	$12.86	—	COM	006212104
—	NUVEEN CONNECTICUT QLTY MUN FD	298,595	$3.559M	1.0%	$12.04	—	COM	67060D107
—	BLACK RIDGE ACQUISTION CORP	349,000	$3.538M	1.0%	$10.14	—	Unit	09216T206
—	FRANKLIN UNVL TR	432,408	$3.1M	0.8%	$7.14	—	SH BEN INT	355145103
—	M III ACQUISITION CORP COM	309,311	$3.068M	0.8%	$9.92	—	COM	55378T104
—	AVISTA HEALTHCARE PUB ACQ CO	302,136	$2.997M	0.8%	$9.87	—	COM	G0726L125
—	ORIGO ACQUISITION CORP	279,077	$2.969M	0.8%	$10.64	—	COM	G67789126
—	ATLANTIC ACQUISITION CORP	299,750	$2.956M	0.8%	$9.86	—	COM	048206106
—	MODERN MEDIA ACQUISITION COR	289,686	$2.847M	0.8%	$9.76	—	COM	60765P103
—	ABERDEEN LATIN AMERICAN EQTY	104,021	$2.779M	0.8%	$26.96	—	COM	00306K106
—	DEUTSCHE STRATEGIC INCOME TR	221,887	$2.76M	0.7%	$12.45	—	SHS	25160F109
—	DRAPER OAKWOOD TECHNOLOGY AC	250,000	$2.63M	0.7%	$10.22	—	Unit	26146L202
—	BIG ROCK PARTNERS ACQUISITION CORP UNIT 1 COM & 1/2 WT EXP & 1 RT	250,000	$2.559M	0.7%	$10.24	—	Unit	089482202
—	GIGCAPITAL INC	252,000	$2.52M	0.7%	$10.00	—	Unit	37518N205
—	I-AM CAPITAL ACQUISITION CO	250,000	$2.465M	0.7%	$9.86	—	COM	45074Q108
—	LAZARD WORLD DIVIDEND & INCOME	205,939	$2.319M	0.6%	$11.19	—	COM	521076109
—	ABERDEEN INDONESIA FD	302,970	$2.315M	0.6%	$7.67	—	COM	00305P106
—	LIBERTY ALL STAR EQUITY FD SH	386,706	$2.215M	0.6%	$5.63	—	SH BEN INT	530158104
—	ASIA TIGERS FUND INC	178,434	$2.207M	0.6%	$10.09	—	COM	04516T105
—	NEW IRELAND FUND	168,328	$2.109M	0.6%	$12.75	—	COM	645673104
—	BISON CAPITAL ACQUISITION	200,000	$2.054M	0.6%	$10.20	—	UNIT	G1142P120
—	ALLIANCE CALIF MUNI INCOME	150,583	$2.046M	0.6%	$13.59	—	COM	018546101
—	ANDINA ACQUISITION CORP II	197,297	$2.032M	0.6%	$9.69	—	SHS	G0441P104
—	DELAWARE INV DIVIDEND & INV	182,008	$1.953M	0.5%	$10.02	—	COM	245915103
—	ABERDEEN EMERGING MKTS SMALL	132,834	$1.931M	0.5%	$14.20	—	COM	00301T102
HUNTF	HUNTER MARITIME ACQUISITION	186,827	$1.823M	0.5%	$9.83	-0.4%	CL A	Y37828111
—	GENERAL AMERICAN INVESTORS	48,808	$1.679M	0.5%	$36.71	—	COM	368802104
—	PENSARE ACQUISITION CORP	168,831	$1.631M	0.4%	$9.66	—	COM	70957E105
EQS	EQUUS TOTAL RETURN INC	497,162	$1.193M	0.3%	$2.32	+3.1%	COM	294766100
—	LEISURE ACQUISITION CORP UNIT 1 COM & 1/2 WT EXP	113,900	$1.128M	0.3%	$9.90	—	Unit	52539T206
—	BLACKROCK NEW YORK MUN INCOME QUALITY TR COM	80,822	$1.064M	0.3%	$13.16	—	COM	09249U105
TPHS	TRINITY PLACE HOLDINGS INC	150,493	$1.046M	0.3%	$7.06	-0.1%	COM	89656D101
—	GABELLI EQUITY TRUST	142,471	$882K	0.2%	$6.19	—	COM	362397101
—	ALPINE GLOBAL PREMIER PPTYS	123,487	$832K	0.2%	$5.72	—	COM	02083A103
—	INVESCO PA VALUE MUN INCOME TR	65,566	$760K	0.2%	$12.31	—	COM	46132K109
—	ROYCE VALUE TRUST	37,200	$602K	0.2%	$12.10	—	COM	780910105
—	ELECTRUM SPL ACQUISITION COR	54,749	$565K	0.2%	$10.21	—	SHS	G3105C104
—	CONSTELLATION ALPHA CAPITAL CORP REGISTERED SHS ISIN#VGG2379F1080	58,000	$564K	0.2%	$9.72	—	SHS	G2379F108
—	BARINGTON HILCO ACQUISITION	52,080	$543K	0.1%	$9.85	—	COM	06759V101
—	CONSTELLATION ALPHA CAPITAL	50,000	$507K	0.1%	$10.13	—	UNIT	G2379F124
—	HERZFELD CARIBBEAN BASIN FD	69,940	$500K	0.1%	$6.83	—	COM	42804T106
—	ASIA PAC FD INC COM	30,920	$446K	0.1%	$14.42	—	COM	044901106
—	BLACKROCK DEBT STRAT FD INC	31,558	$369K	0.1%	$11.34	—	COM NEW	09255R202
—	GABELLI GLOBAL SMALL & MID CAP VALUE TR COM	27,953	$356K	0.1%	$12.74	—	COM	36249W104
—	GSV CAPITAL CORP	60,104	$328K	0.1%	$9.37	—	COM	36191J101
—	BLACK RIDGE ACQUISITION CORP COM	31,300	$303K	0.1%	$9.68	—	COM	09216T107
—	HUNTER MARITIME ACQUISITION	30,002	$298K	0.1%	$9.93	—	Unit	Y37828103
—	FORUM MERGER CORP	421,422	$278K	0.1%	$0.66	—	Rights	34985B129
—	DIVIDEND & INCOME FD COM NEW	18,379	$247K	0.1%	$13.44	—	COM NEW	25538A204
—	STELLAR AQCUISITION III	645,219	$200K	0.1%	$0.34	—	*W EXP 03/22/202	Y8172W115
—	KAYNE ANDERSON ACQUISITION CORP UNIT 1 COM & 1/3 WT PER AGENT EXP 06/30/2022	19,464	$194K	0.1%	$9.97	—	Unit	48661U201
—	M III ACQUISITION CORP COM	232,411	$183K	0.0%	$0.79	—	*w exp 10/10/2020	55304T112
—	VIVOPOWER INTERNATIONAL PLC	56,895	$164K	0.0%	$5.50	—	SHS	G9376R100
—	FORUM MERGER CORP WTS	210,711	$143K	0.0%	$0.68	—	Warrants	34985B111
—	M I ACQUISITIONS INC	387,235	$136K	0.0%	$0.35	—	*W EXP 99/99/999	55304A112
—	HAYMAKER ACQUISITION CORP UNIT 1 COM & 1/2 WT EXP EXP 10/23/24	11,600	$115K	0.0%	$9.91	—	Unit	420870206
—	GDL FUND	11,554	$112K	0.0%	$10.49	—	COM	361570104
—	MODERN MEDIA ACQUISITION-RTS	282,325	$110K	0.0%	$0.36	—	Rights	60765P129
—	CM SEVEN STAR ACQUISITION CORP RTS EXP 2018 ISIN#KYG2345N1363	261,898	$84,000	0.0%	$0.32	—	Rights	G2345N136
—	I AM CAP ACQUISITION CO	250,000	$83,000	0.0%	$0.33	—	Warrants	45074Q116
—	MODERN MEDIA ACQUISITIO-CW22	147,043	$81,000	0.0%	$0.54	—	Warrants	60765P111
—	ATLANTIC ACQUISITION COR -RTS	150,000	$79,000	0.0%	$0.53	—	Rights	048206304
—	I AM CAP ACQUISITION CO	250,000	$75,000	0.0%	$0.30	—	Rights	45074Q124
—	PENSARE ACQUISITION CORP	84,594	$72,000	0.0%	$0.85	—	Rights	70957E121
—	AVISTA HEALTHCARE PUB ACQ CO	254,286	$71,000	0.0%	$0.47	—	*W EXP 99/99/999	G0726L117
—	ELECTRUM SPL ACQUISITION COR	147,507	$59,000	0.0%	$0.34	—	*W EXP 99/99/999	G3105C112
—	CM SEVEN STAR ACQUISITION CORP WTS EXP 08/21/2022 ISIN#KYG2345N1108	130,949	$38,000	0.0%	$0.29	—	Warrants	G2345N110
—	ORIGO ACQUISITION CORP-RTS	73,423	$36,000	0.0%	$0.15	—	RIGHT 12/12/2016	G67789134
—	ORIGO ACQUISITION COR. WT	73,423	$36,000	0.0%	$0.07	—	*W EXP 12/17/202	G67789118
—	HUNTER MARITIME ACQUISITION WTS	93,414	$28,000	0.0%	$0.31	—	W EXP 99/99/999	Y37828129
—	PENSARE ACQUISITION CORP	42,297	$23,000	0.0%	$0.54	—	Warrants	70957E117
—	BLACK RIDGE ACQUISITION CORP RTS EXP	11,500	$3,000	0.0%	$0.26	—	Rights	09216T123
—	BARINGTON HILCO ACQUISITION	49,649	$3,000	0.0%	$0.11	—	*W EXP 02/11/201	06759V127