1607 Capital Partners, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ABRDN AUSTRALIA EQUITY FD IN	612,319	$7,911	0.5%	$12.92	—	COM	003011111
—	DOUBLELINE INCOME SOLUTIONS	482,059	$5,433	0.4%	$11.27	—	COM	258622109
—	BLACKROCK CORE BD TR	454,094	$4,355	0.3%	$9.59	—	SHS BEN INT	09249E101
—	NUVEEN FLOATING RATE INCOME	490,669	$3,842	0.3%	$7.83	—	COM	67072T108
EWC	ISHARES INC	57,496	$3,101	0.2%	$53.93	—	MSCI CDA ETF	464286509
—	CALAMOS STRATEGIC TOTAL RETU	151,209	$2,903	0.2%	$19.20	—	COM SH BEN INT	128125101
—	HANCOCK JOHN PREM DIVID FD	213,229	$2,708	0.2%	$12.70	—	COM SH BEN INT	41013T105
—	DOUBLELINE YIELD OPPORTUNITI	161,111	$2,343	0.2%	$14.54	—	COM	25862D105
—	BLACKROCK MULTI SECTOR INC T	165,877	$2,166	0.1%	$13.06	—	COM	09258A107
—	EATON VANCE ENHANCED EQUITY	92,033	$2,154	0.1%	$23.41	—	COM	278277108
EFA	ISHARES TR	16,150	$1,551	0.1%	$96.03	—	MSCI EAFE ETF	464287465
—	ROYCE GLOBAL TRUST INC	97,524	$1,279	0.1%	$13.11	—	COM	78081T104
—	INVESCO SR INCOME TR	379,461	$1,241	0.1%	$3.27	—	COM	46131H107
XLK	SELECT SECTOR SPDR TR	8,220	$1,183	0.1%	$143.97	—	STATE STREET TEC	81369Y803
—	NUVEEN CR STRATEGIES INCOME	181,856	$913	0.1%	$5.02	—	COM SHS	67073D102
—	COLUMBIA SELIGM PREM TECH GR	23,955	$881	0.1%	$36.79	—	COM	19842X109
—	WESTERN ASSET HIGH YIELD OPP	51,795	$578	0.0%	$11.16	—	COM	95768B107
—	BLACKROCK SCIENCE & TECHNOLO	23,400	$529	0.0%	$22.61	—	SHS BEN INT	09260K101
—	NYLI MACKAY DEFINEDTERM MUNI	35,062	$521	0.0%	$14.87	—	COM	56064K100
—	GUGGENHEIM ACTIVE ALLOC FD	12,600	$193	0.0%	$15.33	—	COMMON STOCK	40170T106

Increased Positions (30)

FEZ SPDR INDEX SHS FDS 11.8%

Value ($000) $173,097 (+226.9%) Shares 2,688,253 (+215.4%) Est. Cost $63.61 Unrealized —

BBJP J P MORGAN EXCHANGE TRADED F 7.6%

Value ($000) $111,644 (+135.9%) Shares 1,693,882 (+137.4%) Est. Cost $62.09 Unrealized —

EWL ISHARES INC 6.1%

Value ($000) $89,585 (+155.9%) Shares 1,494,082 (+135.7%) Est. Cost $51.91 Unrealized —

EUFN ISHARES TR 9.6%

Value ($000) $141,128 (+42.5%) Shares 3,805,027 (+32.0%) Est. Cost $34.66 Unrealized —

— EATON VANCE SR FLTNG RTE TR 1.1%

Value ($000) $15,954 (+319.9%) Shares 1,432,147 (+331.3%) Est. Cost $11.21 Unrealized —

— EATON VANCE TAX-MANAGED GLOB 0.9%

Value ($000) $13,396 (+269.1%) Shares 1,452,913 (+262.3%) Est. Cost $8.87 Unrealized —

— EATON VANCE FLTING RATE INC 0.6%

Value ($000) $9,031 (+949.7%) Shares 799,921 (+994.3%) Est. Cost $11.33 Unrealized —

— LIBERTY ALL STAR EQUITY FD 0.6%

Value ($000) $8,503 (+113.4%) Shares 1,353,935 (+115.5%) Est. Cost $6.31 Unrealized —

— BLACKROCK HEALTH SCIENCES TR 0.6%

Value ($000) $9,429 (+65.2%) Shares 229,260 (+49.5%) Est. Cost $40.50 Unrealized —

— EATON VANCE SR INCOME TR 0.3%

Value ($000) $4,724 (+244.6%) Shares 896,307 (+258.3%) Est. Cost $5.33 Unrealized —

— BLACKROCK SCIENCE & TECHNOLO 1.0%

Value ($000) $15,191 (+13.8%) Shares 374,713 (+16.1%) Est. Cost $37.14 Unrealized —

— SRH TOTAL RETURN FUND INC 1.1%

Value ($000) $16,052 (+10.4%) Shares 865,815 (+8.1%) Est. Cost $14.99 Unrealized —

— INVESCO BD FD 0.2%

Value ($000) $2,302 (+185.2%) Shares 149,362 (+192.0%) Est. Cost $15.42 Unrealized —

— BLACKROCK INCOME TR INC 0.2%

Value ($000) $3,067 (+92.0%) Shares 277,822 (+95.5%) Est. Cost $11.45 Unrealized —

— EATON VANCE TAX-ADVANTAGED G 0.5%

Value ($000) $7,265 (+19.5%) Shares 239,386 (+8.5%) Est. Cost $23.63 Unrealized —

— PIMCO DYNAMIC INCOME STRATEG 0.1%

Value ($000) $1,719 (+220.5%) Shares 91,512 (+325.4%) Est. Cost $20.16 Unrealized —

— RIVERNORTH DOUBLELINE STRATE 0.1%

Value ($000) $1,416 (+415.9%) Shares 178,157 (+453.6%) Est. Cost $8.06 Unrealized —

— LIBERTY ALL-STAR GROWTH FD I 0.5%

Value ($000) $6,891 (+14.1%) Shares 1,300,216 (+19.4%) Est. Cost $5.43 Unrealized —

— WESTERN ASSET INVT GRADE OPP 0.4%

Value ($000) $6,274 (+15.5%) Shares 380,260 (+16.9%) Est. Cost $16.87 Unrealized —

— TEMPLETON DRAGON FD INC 0.1%

Value ($000) $1,840 (+45.8%) Shares 163,411 (+50.9%) Est. Cost $12.91 Unrealized —

— WESTERN ASSET INVESTMENT GRA 0.6%

Value ($000) $8,897 (+6.9%) Shares 712,889 (+9.8%) Est. Cost $12.40 Unrealized —

— FLAHERTY & CRUMRINE PFD INCO 0.2%

Value ($000) $2,488 (+28.5%) Shares 263,244 (+32.5%) Est. Cost $9.68 Unrealized —

— FLAHERTY & CRUMRINE DYNAMIC 0.2%

Value ($000) $2,225 (+29.3%) Shares 107,017 (+34.6%) Est. Cost $21.42 Unrealized —

— FIRST TR SR FLTG RATE INCOME 0.1%

Value ($000) $953 (+78.3%) Shares 94,651 (+77.0%) Est. Cost $9.84 Unrealized —

— FIRST TR HIGH YIELD OPPRT 20 0.2%

Value ($000) $2,466 (+11.5%) Shares 175,292 (+14.8%) Est. Cost $14.59 Unrealized —

— FLAHERTY & CRUMRINE PFD INCO 0.0%

Value ($000) $672 (+54.4%) Shares 56,600 (+56.4%) Est. Cost $11.97 Unrealized —

— EATON VANCE TAX-MANAGED BUY- 0.1%

Value ($000) $1,354 (+13.7%) Shares 94,313 (+12.8%) Est. Cost $14.26 Unrealized —

— JOHN HANCOCK DIVERSIFIED INC 0.1%

Value ($000) $1,395 (+7.1%) Shares 129,782 (+6.1%) Est. Cost $10.20 Unrealized —

— CALAMOS GBL DYN INCOME FUND 0.1%

Value ($000) $1,581 (+6.1%) Shares 213,387 (+7.9%) Est. Cost $6.87 Unrealized —

— ABRDN INCOME CREDIT STRATEGI 0.2%

Value ($000) $2,243 (-0.4%) Shares 414,651 (+6.8%) Est. Cost $5.93 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FEZ	SPDR INDEX SHS FDS	2,688,253 (+215.4%)	$173,097 (+226.9%)	11.8%	$63.61	—	EURO STOXX 50	78463X202
BBJP	J P MORGAN EXCHANGE TRADED F	1,693,882 (+137.4%)	$111,644 (+135.9%)	7.6%	$62.09	—	BETABULDRS JAPAN	46641Q217
EWL	ISHARES INC	1,494,082 (+135.7%)	$89,585 (+155.9%)	6.1%	$51.91	—	MSCI SWITZERLAND	464286749
EUFN	ISHARES TR	3,805,027 (+32.0%)	$141,128 (+42.5%)	9.6%	$34.66	—	MSCI EURO FL ETF	464289180
—	EATON VANCE SR FLTNG RTE TR	1,432,147 (+331.3%)	$15,954 (+319.9%)	1.1%	$11.21	—	COM	27828Q105
—	EATON VANCE TAX-MANAGED GLOB	1,452,913 (+262.3%)	$13,396 (+269.1%)	0.9%	$8.87	—	COM	27829C105
—	EATON VANCE FLTING RATE INC	799,921 (+994.3%)	$9,031 (+949.7%)	0.6%	$11.33	—	COM	278279104
—	LIBERTY ALL STAR EQUITY FD	1,353,935 (+115.5%)	$8,503 (+113.4%)	0.6%	$6.31	—	SH BEN INT	530158104
—	BLACKROCK HEALTH SCIENCES TR	229,260 (+49.5%)	$9,429 (+65.2%)	0.6%	$40.50	—	COM	09250W107
—	EATON VANCE SR INCOME TR	896,307 (+258.3%)	$4,724 (+244.6%)	0.3%	$5.33	—	SH BEN INT	27826S103
—	BLACKROCK SCIENCE & TECHNOLO	374,713 (+16.1%)	$15,191 (+13.8%)	1.0%	$37.14	—	SHS	09258G104
—	SRH TOTAL RETURN FUND INC	865,815 (+8.1%)	$16,052 (+10.4%)	1.1%	$14.99	—	COM	101507101
—	INVESCO BD FD	149,362 (+192.0%)	$2,302 (+185.2%)	0.2%	$15.42	—	COM	46132L107
—	BLACKROCK INCOME TR INC	277,822 (+95.5%)	$3,067 (+92.0%)	0.2%	$11.45	—	COM NEW	09247F209
—	EATON VANCE TAX-ADVANTAGED G	239,386 (+8.5%)	$7,265 (+19.5%)	0.5%	$23.63	—	COM	27828U106
—	PIMCO DYNAMIC INCOME STRATEG	91,512 (+325.4%)	$1,719 (+220.5%)	0.1%	$20.16	—	COM SHS BEN INT	69346N107
—	RIVERNORTH DOUBLELINE STRATE	178,157 (+453.6%)	$1,416 (+415.9%)	0.1%	$8.06	—	COM	76882G107
—	LIBERTY ALL-STAR GROWTH FD I	1,300,216 (+19.4%)	$6,891 (+14.1%)	0.5%	$5.43	—	COM	529900102
—	WESTERN ASSET INVT GRADE OPP	380,260 (+16.9%)	$6,274 (+15.5%)	0.4%	$16.87	—	COM	95790A101
—	TEMPLETON DRAGON FD INC	163,411 (+50.9%)	$1,840 (+45.8%)	0.1%	$12.91	—	COM	88018T101
—	WESTERN ASSET INVESTMENT GRA	712,889 (+9.8%)	$8,897 (+6.9%)	0.6%	$12.40	—	COM	95766T100
—	FLAHERTY & CRUMRINE PFD INCO	263,244 (+32.5%)	$2,488 (+28.5%)	0.2%	$9.68	—	COM	33848E106
—	FLAHERTY & CRUMRINE DYNAMIC	107,017 (+34.6%)	$2,225 (+29.3%)	0.2%	$21.42	—	SHS	33848W106
—	FIRST TR SR FLTG RATE INCOME	94,651 (+77.0%)	$953 (+78.3%)	0.1%	$9.84	—	COM	33733U108
—	FIRST TR HIGH YIELD OPPRT 20	175,292 (+14.8%)	$2,466 (+11.5%)	0.2%	$14.59	—	COM	33741Q107
—	FLAHERTY & CRUMRINE PFD INCO	56,600 (+56.4%)	$672 (+54.4%)	0.0%	$11.97	—	COM	338480106
—	EATON VANCE TAX-MANAGED BUY-	94,313 (+12.8%)	$1,354 (+13.7%)	0.1%	$14.26	—	COM	27828Y108
—	JOHN HANCOCK DIVERSIFIED INC	129,782 (+6.1%)	$1,395 (+7.1%)	0.1%	$10.20	—	COM	47804L102
—	CALAMOS GBL DYN INCOME FUND	213,387 (+7.9%)	$1,581 (+6.1%)	0.1%	$6.87	—	COM	12811L107
—	ABRDN INCOME CREDIT STRATEGI	414,651 (+6.8%)	$2,243 (-0.4%)	0.2%	$5.93	—	COM	003057106

Exited Positions (15)

EWJ ISHARES INC 3.1%

Value ($000) $45,991 Shares 573,377 Est. Cost $54.94 Unrealized —

— ABRDN AUSTRALIA EQUITY FD IN 0.6%

Value ($000) $8,919 Shares 1,943,036 Est. Cost $4.51 Unrealized —

XJEQX ABRDN JAPAN EQUITY FUND INC 0.5%

Value ($000) $6,824 Shares 866,040 Est. Cost $7.06 Unrealized —

— BLACKROCK ENHANCED GLOBAL DI 0.5%

Value ($000) $6,780 Shares 586,008 Est. Cost $12.49 Unrealized —

SRLN SSGA ACTIVE ETF TR 0.5%

Value ($000) $6,763 Shares 162,658 Est. Cost $41.70 Unrealized —

— BLACKROCK TAX MUNICPAL BD TR 0.3%

Value ($000) $3,845 Shares 231,600 Est. Cost $16.13 Unrealized —

XXCHNXX CHINA FD INC 0.2%

Value ($000) $3,356 Shares 181,814 Est. Cost $15.92 Unrealized —

— NUVEEN CALIFORNIA MUNI VLU F 0.2%

Value ($000) $2,274 Shares 255,520 Est. Cost $9.10 Unrealized —

XLI SELECT SECTOR SPDR TR 0.1%

Value ($000) $1,154 Shares 7,485 Est. Cost $131.76 Unrealized —

XEVMX EATON VANCE CALIF MUN BD FD 0.0%

Value ($000) $573 Shares 60,420 Est. Cost $10.02 Unrealized —

— ABRDN TOTAL DYNAMIC DIVIDEND 0.0%

Value ($000) $385 Shares 40,692 Est. Cost $8.62 Unrealized —

— BLACKROCK ENHANCED INTL DIV 0.0%

Value ($000) $296 Shares 51,544 Est. Cost $5.77 Unrealized —

— HANCOCK JOHN TAX-ADVANTAGED 0.0%

Value ($000) $292 Shares 11,765 Est. Cost $23.22 Unrealized —

— GAMCO NAT RES GOLD & INCOME 0.0%

Value ($000) $262 Shares 37,263 Est. Cost $4.74 Unrealized —

— BLACKROCK INCOME TR INC 0.0%

Value ($000) $8 Shares 142,110 Est. Cost $0.06 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EWJ	ISHARES INC	573,377	$45,991	3.1%	$54.94	—	—	46434G822
—	ABRDN AUSTRALIA EQUITY FD IN	1,943,036	$8,919	0.6%	$4.51	—	—	003011103
XJEQX	ABRDN JAPAN EQUITY FUND INC	866,040	$6,824	0.5%	$7.06	—	—	00306J109
—	BLACKROCK ENHANCED GLOBAL DI	586,008	$6,780	0.5%	$12.49	—	—	092501105
SRLN	SSGA ACTIVE ETF TR	162,658	$6,763	0.5%	$41.70	—	—	78467V608
—	BLACKROCK TAX MUNICPAL BD TR	231,600	$3,845	0.3%	$16.13	—	—	09248X100
XXCHNXX	CHINA FD INC	181,814	$3,356	0.2%	$15.92	—	—	169373107
—	NUVEEN CALIFORNIA MUNI VLU F	255,520	$2,274	0.2%	$9.10	—	—	67062C107
XLI	SELECT SECTOR SPDR TR	7,485	$1,154	0.1%	$131.76	—	—	81369Y704
XEVMX	EATON VANCE CALIF MUN BD FD	60,420	$573	0.0%	$10.02	—	—	27828A100
—	ABRDN TOTAL DYNAMIC DIVIDEND	40,692	$385	0.0%	$8.62	—	—	00326L100
—	BLACKROCK ENHANCED INTL DIV	51,544	$296	0.0%	$5.77	—	—	092524107
—	HANCOCK JOHN TAX-ADVANTAGED	11,765	$292	0.0%	$23.22	—	—	41013V100
—	GAMCO NAT RES GOLD & INCOME	37,263	$262	0.0%	$4.74	—	—	36465E101
—	BLACKROCK INCOME TR INC	142,110	$8	0.0%	$0.06	—	—	09247F118

Decreased Positions (64)

BKLN INVESCO EXCH TRADED FD TR II 4.2%

Value ($000) $61,000 (-33.2%) Shares 2,904,775 (-33.4%) Est. Cost $20.99 Unrealized —

USHY ISHARES TR 3.9%

Value ($000) $57,447 (-23.2%) Shares 1,536,225 (-22.4%) Est. Cost $36.80 Unrealized —

IEF ISHARES TR 1.1%

Value ($000) $16,200 (-41.8%) Shares 168,466 (-41.6%) Est. Cost $105.34 Unrealized —

GOVT ISHARES TR 5.0%

Value ($000) $73,936 (-13.4%) Shares 3,211,122 (-13.0%) Est. Cost $23.93 Unrealized —

EZU ISHARES INC 2.1%

Value ($000) $31,472 (-24.2%) Shares 490,986 (-26.7%) Est. Cost $43.91 Unrealized —

AGG ISHARES TR 2.5%

Value ($000) $35,991 (-21.6%) Shares 360,343 (-21.3%) Est. Cost $97.25 Unrealized —

LQD ISHARES TR 0.5%

Value ($000) $6,646 (-50.3%) Shares 60,310 (-49.7%) Est. Cost $107.04 Unrealized —

VMBS VANGUARD SCOTTSDALE FDS 1.2%

Value ($000) $17,427 (-20.7%) Shares 370,155 (-20.9%) Est. Cost $45.80 Unrealized —

— PGIM SHORT DUR HIG YLD OPP F 1.9%

Value ($000) $28,266 (-13.9%) Shares 1,718,318 (-12.5%) Est. Cost $16.49 Unrealized —

— NUVEEN MUN VALUE FD INC 1.2%

Value ($000) $17,250 (-18.8%) Shares 1,903,992 (-19.5%) Est. Cost $9.01 Unrealized —

— MFS INTER INCOME TR 1.1%

Value ($000) $16,230 (-18.2%) Shares 6,218,476 (-16.0%) Est. Cost $2.96 Unrealized —

— ADAMS DIVERSIFIED EQUITY FD 0.8%

Value ($000) $11,859 (-18.5%) Shares 508,536 (-22.1%) Est. Cost $15.60 Unrealized —

— WESTERN AST INFL LKD OPP & I 0.7%

Value ($000) $10,248 (-20.4%) Shares 1,192,990 (-17.6%) Est. Cost $9.91 Unrealized —

— TCW STRATEGIC INCOME FD INC 0.7%

Value ($000) $9,667 (-17.4%) Shares 1,956,788 (-17.7%) Est. Cost $4.78 Unrealized —

XLP SELECT SECTOR SPDR TR 0.1%

Value ($000) $898 (-68.7%) Shares 11,560 (-68.4%) Est. Cost $81.39 Unrealized —

— WESTERN ASSET MANAGED MUNS F 1.0%

Value ($000) $14,514 (-11.9%) Shares 1,390,231 (-12.7%) Est. Cost $11.07 Unrealized —

— DWS MUN INCOME TR NEW 0.7%

Value ($000) $10,371 (-15.7%) Shares 1,140,943 (-14.9%) Est. Cost $10.82 Unrealized —

— KOREA FD INC 0.3%

Value ($000) $4,132 (-31.4%) Shares 113,770 (-42.2%) Est. Cost $34.43 Unrealized —

— EUROPEAN EQUITY FD INC 1.1%

Value ($000) $16,440 (-10.3%) Shares 1,596,095 (-5.6%) Est. Cost $7.75 Unrealized —

— NUVEEN AMT-FREE MUN VALUE FD 1.1%

Value ($000) $15,619 (-9.5%) Shares 1,091,459 (-10.3%) Est. Cost $14.91 Unrealized —

— HANCOCK JOHN INCOME SECS TR 0.9%

Value ($000) $13,584 (-10.1%) Shares 1,160,052 (-10.4%) Est. Cost $12.43 Unrealized —

— GENERAL AMERN INVS CO INC 1.1%

Value ($000) $16,297 (-8.4%) Shares 277,489 (-3.0%) Est. Cost $34.47 Unrealized —

— ALLSPRING MULTI SECTOR INCOM 0.3%

Value ($000) $4,888 (-23.4%) Shares 525,628 (-21.1%) Est. Cost $9.23 Unrealized —

— TEMPLETON EMERGING MKTS FD 0.7%

Value ($000) $10,382 (-11.9%) Shares 609,636 (-13.4%) Est. Cost $14.54 Unrealized —

— PUTNAM PREMIER INCOME TR 0.4%

Value ($000) $6,185 (-18.4%) Shares 1,747,144 (-14.9%) Est. Cost $3.70 Unrealized —

— HANCOCK JOHN INVT TR II 0.5%

Value ($000) $6,623 (-16.9%) Shares 484,495 (-15.0%) Est. Cost $12.98 Unrealized —

— NEW GERMANY FD INC 1.0%

Value ($000) $14,316 (-7.5%) Shares 1,253,570 (-6.4%) Est. Cost $14.52 Unrealized —

— EATON VANCE TAX-MANAGED GLOB 0.1%

Value ($000) $1,236 (-46.6%) Shares 129,714 (-49.0%) Est. Cost $8.04 Unrealized —

— NUVEEN SELECT MAT MUN FD 0.5%

Value ($000) $7,471 (-12.0%) Shares 802,436 (-12.4%) Est. Cost $9.00 Unrealized —

— NEUBERGER MUN FD INC 0.7%

Value ($000) $10,186 (-8.9%) Shares 1,006,539 (-7.1%) Est. Cost $10.33 Unrealized —

— BROOKFIELD REAL ASSETS INCOM 0.4%

Value ($000) $5,224 (-15.4%) Shares 403,070 (-12.8%) Est. Cost $13.44 Unrealized —

— ALLSPRING GLOBAL DIVIDEND OP 0.1%

Value ($000) $867 (-50.1%) Shares 148,768 (-51.3%) Est. Cost $4.84 Unrealized —

— WESTERN ASSET INTER MUNI FD 0.2%

Value ($000) $3,362 (-18.2%) Shares 437,801 (-15.8%) Est. Cost $8.77 Unrealized —

— ALLSPRING UTILITIES AND HIGH 0.3%

Value ($000) $3,748 (-16.2%) Shares 317,063 (-12.3%) Est. Cost $10.34 Unrealized —

— FLAHERTY & CRUMRINE PFD SECS 0.4%

Value ($000) $5,618 (-11.4%) Shares 340,251 (-9.4%) Est. Cost $15.46 Unrealized —

— WESTERN ASSET PREMIER BD FD 0.2%

Value ($000) $2,821 (-18.1%) Shares 255,736 (-16.6%) Est. Cost $12.79 Unrealized —

— VOYA EMERGING MKTS HIGH DIVI 0.1%

Value ($000) $1,694 (-24.2%) Shares 270,109 (-24.2%) Est. Cost $7.41 Unrealized —

— MFS MULTIMARKET INCOME TR 0.2%

Value ($000) $3,396 (-13.0%) Shares 730,280 (-10.6%) Est. Cost $4.64 Unrealized —

— JAPAN SMALLER CAPITALIZATION 3.0%

Value ($000) $44,217 (+1.1%) Shares 3,990,675 (-3.9%) Est. Cost $8.92 Unrealized —

— NUVEEN DOW 30 DYNMC OVERWRT 0.1%

Value ($000) $1,802 (-20.0%) Shares 118,061 (-22.0%) Est. Cost $13.90 Unrealized —

— NUVEEN MULTI-MKT INCOME FD 0.1%

Value ($000) $1,860 (-19.4%) Shares 307,972 (-16.0%) Est. Cost $7.13 Unrealized —

— BLACKROCK MUN TARGET TERM TR 0.5%

Value ($000) $6,636 (-6.2%) Shares 290,806 (-7.7%) Est. Cost $20.64 Unrealized —

— BLACKROCK MUNIVEST FD INC 0.2%

Value ($000) $2,297 (-13.5%) Shares 331,403 (-14.4%) Est. Cost $8.52 Unrealized —

— EATON VANCE NATL MUN OPPORT 0.6%

Value ($000) $8,909 (-3.8%) Shares 526,862 (-5.3%) Est. Cost $17.44 Unrealized —

— BLACKROCK MUNI INCOME TR II 0.1%

Value ($000) $2,107 (-13.8%) Shares 201,831 (-13.7%) Est. Cost $10.49 Unrealized —

XNXNX NUVEEN N Y SELECT TAX FREE I 0.2%

Value ($000) $2,250 (-12.5%) Shares 186,446 (-12.9%) Est. Cost $11.60 Unrealized —

— WSTRN AST GLBL CORP OPP FD I 0.1%

Value ($000) $815 (-27.8%) Shares 69,006 (-27.4%) Est. Cost $11.56 Unrealized —

— NUVEEN N Y MUN VALUE FD 0.4%

Value ($000) $5,338 (-5.3%) Shares 623,323 (-8.6%) Est. Cost $8.49 Unrealized —

— BNY MELLON HIGH YIELD STRATE 0.1%

Value ($000) $1,985 (-12.9%) Shares 800,314 (-9.0%) Est. Cost $2.40 Unrealized —

— PUTNAM MASTER INTER INCOME T 0.1%

Value ($000) $1,145 (-20.4%) Shares 342,922 (-18.0%) Est. Cost $3.34 Unrealized —

— PUTNAM MUN OPPORTUNITIES TR 0.2%

Value ($000) $3,329 (-8.0%) Shares 311,109 (-11.2%) Est. Cost $10.61 Unrealized —

— VIRTUS GLOBAL MULTI-SECTOR I 0.1%

Value ($000) $1,060 (-21.1%) Shares 135,244 (-20.1%) Est. Cost $7.72 Unrealized —

— MEXICO FD INC 0.2%

Value ($000) $2,690 (-9.0%) Shares 133,589 (-11.0%) Est. Cost $14.98 Unrealized —

— NUVEEN NASDAQ 100 DYNAMIC OV 1.0%

Value ($000) $14,654 (+1.8%) Shares 513,820 (-2.0%) Est. Cost $24.89 Unrealized —

— DTF TAX-FREE INCOME 2028 TER 0.1%

Value ($000) $1,092 (-17.4%) Shares 95,629 (-17.3%) Est. Cost $13.73 Unrealized —

— ALLIANCEBERNSTEIN NATL MUN I 0.0%

Value ($000) $389 (-29.6%) Shares 35,947 (-29.4%) Est. Cost $12.86 Unrealized —

— GABELLI DIVID & INCOME TR 0.2%

Value ($000) $2,348 (-6.0%) Shares 84,558 (-8.1%) Est. Cost $20.49 Unrealized —

— MORGAN STANLEY CHINA A SH FD 0.8%

Value ($000) $11,267 (+0.7%) Shares 649,010 (-3.4%) Est. Cost $23.37 Unrealized —

— ABRDN EMERGING MARKETS EX CH 0.7%

Value ($000) $10,630 (+0.7%) Shares 1,518,526 (-6.7%) Est. Cost $6.75 Unrealized —

— FIRST TR MTG INCOME FD 0.1%

Value ($000) $863 (-6.1%) Shares 70,989 (-5.4%) Est. Cost $15.04 Unrealized —

— ABRDN LIFE SCIENCES INVESTOR 0.1%

Value ($000) $1,931 (+1.9%) Shares 115,070 (-5.8%) Est. Cost $14.05 Unrealized —

— EATON VANCE TAX MNGED BUY WR 0.3%

Value ($000) $4,539 (+0.6%) Shares 297,253 (-1.2%) Est. Cost $13.16 Unrealized —

— CLOUGH GLOBAL EQUITY FD 0.2%

Value ($000) $2,471 (-0.6%) Shares 322,529 (-1.3%) Est. Cost $6.75 Unrealized —

— SPROTT FOCUS TR INC 0.1%

Value ($000) $1,156 (+1.2%) Shares 133,133 (-3.1%) Est. Cost $7.06 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BKLN	INVESCO EXCH TRADED FD TR II	2,904,775 (-33.4%)	$61,000 (-33.2%)	4.2%	$20.99	—	SR LN ETF	46138G508
USHY	ISHARES TR	1,536,225 (-22.4%)	$57,447 (-23.2%)	3.9%	$36.80	—	BROAD USD HIGH	46435U853
IEF	ISHARES TR	168,466 (-41.6%)	$16,200 (-41.8%)	1.1%	$105.34	—	7-10 YR TRSY BD	464287440
GOVT	ISHARES TR	3,211,122 (-13.0%)	$73,936 (-13.4%)	5.0%	$23.93	—	US TREAS BD ETF	46429B267
EZU	ISHARES INC	490,986 (-26.7%)	$31,472 (-24.2%)	2.1%	$43.91	—	MSCI EURZONE ETF	464286608
AGG	ISHARES TR	360,343 (-21.3%)	$35,991 (-21.6%)	2.5%	$97.25	—	CORE US AGGBD ET	464287226
LQD	ISHARES TR	60,310 (-49.7%)	$6,646 (-50.3%)	0.5%	$107.04	—	IBOXX INV CP ETF	464287242
VMBS	VANGUARD SCOTTSDALE FDS	370,155 (-20.9%)	$17,427 (-20.7%)	1.2%	$45.80	—	MTG-BKD SECS ETF	92206C771
—	PGIM SHORT DUR HIG YLD OPP F	1,718,318 (-12.5%)	$28,266 (-13.9%)	1.9%	$16.49	—	COM	69355J104
—	NUVEEN MUN VALUE FD INC	1,903,992 (-19.5%)	$17,250 (-18.8%)	1.2%	$9.01	—	COM	670928100
—	MFS INTER INCOME TR	6,218,476 (-16.0%)	$16,230 (-18.2%)	1.1%	$2.96	—	SH BEN INT	55273C107
—	ADAMS DIVERSIFIED EQUITY FD	508,536 (-22.1%)	$11,859 (-18.5%)	0.8%	$15.60	—	COM	006212104
—	WESTERN AST INFL LKD OPP & I	1,192,990 (-17.6%)	$10,248 (-20.4%)	0.7%	$9.91	—	COM	95766R104
—	TCW STRATEGIC INCOME FD INC	1,956,788 (-17.7%)	$9,667 (-17.4%)	0.7%	$4.78	—	COM	872340104
XLP	SELECT SECTOR SPDR TR	11,560 (-68.4%)	$898 (-68.7%)	0.1%	$81.39	—	STATE STREET CON	81369Y308
—	WESTERN ASSET MANAGED MUNS F	1,390,231 (-12.7%)	$14,514 (-11.9%)	1.0%	$11.07	—	COM	95766M105
—	DWS MUN INCOME TR NEW	1,140,943 (-14.9%)	$10,371 (-15.7%)	0.7%	$10.82	—	COM	233368109
—	KOREA FD INC	113,770 (-42.2%)	$4,132 (-31.4%)	0.3%	$34.43	—	COM NEW	500634209
—	EUROPEAN EQUITY FD INC	1,596,095 (-5.6%)	$16,440 (-10.3%)	1.1%	$7.75	—	COM	298768102
—	NUVEEN AMT-FREE MUN VALUE FD	1,091,459 (-10.3%)	$15,619 (-9.5%)	1.1%	$14.91	—	COM	670695105
—	HANCOCK JOHN INCOME SECS TR	1,160,052 (-10.4%)	$13,584 (-10.1%)	0.9%	$12.43	—	COM	410123103
—	GENERAL AMERN INVS CO INC	277,489 (-3.0%)	$16,297 (-8.4%)	1.1%	$34.47	—	COM	368802104
—	ALLSPRING MULTI SECTOR INCOM	525,628 (-21.1%)	$4,888 (-23.4%)	0.3%	$9.23	—	COM	94987D101
—	TEMPLETON EMERGING MKTS FD	609,636 (-13.4%)	$10,382 (-11.9%)	0.7%	$14.54	—	COM	880191101
—	PUTNAM PREMIER INCOME TR	1,747,144 (-14.9%)	$6,185 (-18.4%)	0.4%	$3.70	—	SH BEN INT	746853100
—	HANCOCK JOHN INVT TR II	484,495 (-15.0%)	$6,623 (-16.9%)	0.5%	$12.98	—	COM	410142103
—	NEW GERMANY FD INC	1,253,570 (-6.4%)	$14,316 (-7.5%)	1.0%	$14.52	—	COM	644465106
—	EATON VANCE TAX-MANAGED GLOB	129,714 (-49.0%)	$1,236 (-46.6%)	0.1%	$8.04	—	COM	27829F108
—	NUVEEN SELECT MAT MUN FD	802,436 (-12.4%)	$7,471 (-12.0%)	0.5%	$9.00	—	SH BEN INT	67061T101
—	NEUBERGER MUN FD INC	1,006,539 (-7.1%)	$10,186 (-8.9%)	0.7%	$10.33	—	COM	64124P101
—	BROOKFIELD REAL ASSETS INCOM	403,070 (-12.8%)	$5,224 (-15.4%)	0.4%	$13.44	—	SHS BEN INT	112830104
—	ALLSPRING GLOBAL DIVIDEND OP	148,768 (-51.3%)	$867 (-50.1%)	0.1%	$4.84	—	COM	94987C103
—	WESTERN ASSET INTER MUNI FD	437,801 (-15.8%)	$3,362 (-18.2%)	0.2%	$8.77	—	COM	958435109
—	ALLSPRING UTILITIES AND HIGH	317,063 (-12.3%)	$3,748 (-16.2%)	0.3%	$10.34	—	WF UTILITIES INC	94987E109
—	FLAHERTY & CRUMRINE PFD SECS	340,251 (-9.4%)	$5,618 (-11.4%)	0.4%	$15.46	—	COM	338478100
—	WESTERN ASSET PREMIER BD FD	255,736 (-16.6%)	$2,821 (-18.1%)	0.2%	$12.79	—	SHS BEN INT	957664105
—	VOYA EMERGING MKTS HIGH DIVI	270,109 (-24.2%)	$1,694 (-24.2%)	0.1%	$7.41	—	COM	92912P108
—	MFS MULTIMARKET INCOME TR	730,280 (-10.6%)	$3,396 (-13.0%)	0.2%	$4.64	—	SH BEN INT	552737108
—	JAPAN SMALLER CAPITALIZATION	3,990,675 (-3.9%)	$44,217 (+1.1%)	3.0%	$8.92	—	COM	47109U104
—	NUVEEN DOW 30 DYNMC OVERWRT	118,061 (-22.0%)	$1,802 (-20.0%)	0.1%	$13.90	—	SHS	67075F105
—	NUVEEN MULTI-MKT INCOME FD	307,972 (-16.0%)	$1,860 (-19.4%)	0.1%	$7.13	—	COM	67075J107
—	BLACKROCK MUN TARGET TERM TR	290,806 (-7.7%)	$6,636 (-6.2%)	0.5%	$20.64	—	COM SHS BEN IN	09257P105
—	BLACKROCK MUNIVEST FD INC	331,403 (-14.4%)	$2,297 (-13.5%)	0.2%	$8.52	—	COM	09253R105
—	EATON VANCE NATL MUN OPPORT	526,862 (-5.3%)	$8,909 (-3.8%)	0.6%	$17.44	—	COM SHS	27829L105
—	BLACKROCK MUNI INCOME TR II	201,831 (-13.7%)	$2,107 (-13.8%)	0.1%	$10.49	—	COM	09249N101
XNXNX	NUVEEN N Y SELECT TAX FREE I	186,446 (-12.9%)	$2,250 (-12.5%)	0.2%	$11.60	—	SH BEN INT	67063V104
—	WSTRN AST GLBL CORP OPP FD I	69,006 (-27.4%)	$815 (-27.8%)	0.1%	$11.56	—	COM	95790C107
—	NUVEEN N Y MUN VALUE FD	623,323 (-8.6%)	$5,338 (-5.3%)	0.4%	$8.49	—	COM	67062M105
—	BNY MELLON HIGH YIELD STRATE	800,314 (-9.0%)	$1,985 (-12.9%)	0.1%	$2.40	—	SH BEN INT	09660L105
—	PUTNAM MASTER INTER INCOME T	342,922 (-18.0%)	$1,145 (-20.4%)	0.1%	$3.34	—	SH BEN INT	746909100
—	PUTNAM MUN OPPORTUNITIES TR	311,109 (-11.2%)	$3,329 (-8.0%)	0.2%	$10.61	—	SH BEN INT	746922103
—	VIRTUS GLOBAL MULTI-SECTOR I	135,244 (-20.1%)	$1,060 (-21.1%)	0.1%	$7.72	—	COM	92829B101
—	MEXICO FD INC	133,589 (-11.0%)	$2,690 (-9.0%)	0.2%	$14.98	—	COM	592835102
—	NUVEEN NASDAQ 100 DYNAMIC OV	513,820 (-2.0%)	$14,654 (+1.8%)	1.0%	$24.89	—	COM SHS	670699107
—	DTF TAX-FREE INCOME 2028 TER	95,629 (-17.3%)	$1,092 (-17.4%)	0.1%	$13.73	—	COM	23334J107
—	ALLIANCEBERNSTEIN NATL MUN I	35,947 (-29.4%)	$389 (-29.6%)	0.0%	$12.86	—	COM	01864U106
—	GABELLI DIVID & INCOME TR	84,558 (-8.1%)	$2,348 (-6.0%)	0.2%	$20.49	—	COM	36242H104
—	MORGAN STANLEY CHINA A SH FD	649,010 (-3.4%)	$11,267 (+0.7%)	0.8%	$23.37	—	COM	617468103
—	ABRDN EMERGING MARKETS EX CH	1,518,526 (-6.7%)	$10,630 (+0.7%)	0.7%	$6.75	—	COM	00301W105
—	FIRST TR MTG INCOME FD	70,989 (-5.4%)	$863 (-6.1%)	0.1%	$15.04	—	COM SHS	33734E103
—	ABRDN LIFE SCIENCES INVESTOR	115,070 (-5.8%)	$1,931 (+1.9%)	0.1%	$14.05	—	SH BEN INT	87911K100
—	EATON VANCE TAX MNGED BUY WR	297,253 (-1.2%)	$4,539 (+0.6%)	0.3%	$13.16	—	COM	27828X100
—	CLOUGH GLOBAL EQUITY FD	322,529 (-1.3%)	$2,471 (-0.6%)	0.2%	$6.75	—	COM	18914C100
—	SPROTT FOCUS TR INC	133,133 (-3.1%)	$1,156 (+1.2%)	0.1%	$7.06	—	COM	85208J109

Unchanged Positions (12)

— EATON VANCE TAX ADVT DIV INC 1.4%

Value ($000) $19,895 Shares 790,120 Est. Cost $23.97 Unrealized —

— MFS GOVT MKTS INCOME TR 0.5%

Value ($000) $6,818 Shares 2,253,781 Est. Cost $3.44 Unrealized —

— CENTRAL SECS CORP 0.7%

Value ($000) $9,570 Shares 188,713 Est. Cost $31.51 Unrealized —

— TAIWAN FD INC 0.4%

Value ($000) $6,407 Shares 120,032 Est. Cost $18.57 Unrealized —

— BNY MELLON STRATEGIC MUN BD 0.1%

Value ($000) $984 Shares 159,401 Est. Cost $6.23 Unrealized —

— BNY MELLON STRATEGIC MUNS IN 0.1%

Value ($000) $1,311 Shares 206,145 Est. Cost $6.51 Unrealized —

— BNY MELLON MUN BD INFRASTRUC 0.1%

Value ($000) $804 Shares 73,129 Est. Cost $11.16 Unrealized —

— MORGAN STANLEY INDIA INVT FD 0.0%

Value ($000) $292 Shares 11,706 Est. Cost $19.37 Unrealized —

— NUVEEN S&P 500 DYNAMIC OVERW 0.0%

Value ($000) $259 Shares 14,331 Est. Cost $16.17 Unrealized —

— FEDERATED HERMES PREM MUNI I 0.0%

Value ($000) $483 Shares 43,510 Est. Cost $11.04 Unrealized —

— ROYCE MICRO-CAP TR INC 0.0%

Value ($000) $514 Shares 49,327 Est. Cost $7.85 Unrealized —

— CLOUGH GLOBAL OPPORTUNITIES 0.0%

Value ($000) $135 Shares 23,802 Est. Cost $5.36 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	EATON VANCE TAX ADVT DIV INC	790,120	$19,895	1.4%	$23.97	—	COM	27828G107
—	MFS GOVT MKTS INCOME TR	2,253,781	$6,818	0.5%	$3.44	—	SH BEN INT	552939100
—	CENTRAL SECS CORP	188,713	$9,570	0.7%	$31.51	—	COM	155123102
—	TAIWAN FD INC	120,032	$6,407	0.4%	$18.57	—	COM	874036106
—	BNY MELLON STRATEGIC MUN BD	159,401	$984	0.1%	$6.23	—	COM	09662E109
—	BNY MELLON STRATEGIC MUNS IN	206,145	$1,311	0.1%	$6.51	—	COM	05588W108
—	BNY MELLON MUN BD INFRASTRUC	73,129	$804	0.1%	$11.16	—	COM SHS	09662W109
—	MORGAN STANLEY INDIA INVT FD	11,706	$292	0.0%	$19.37	—	COM	61745C105
—	NUVEEN S&P 500 DYNAMIC OVERW	14,331	$259	0.0%	$16.17	—	COM	6706EW100
—	FEDERATED HERMES PREM MUNI I	43,510	$483	0.0%	$11.04	—	COM	31423P108
—	ROYCE MICRO-CAP TR INC	49,327	$514	0.0%	$7.85	—	COM	780915104
—	CLOUGH GLOBAL OPPORTUNITIES	23,802	$135	0.0%	$5.36	—	SH BEN INT	18914E106