The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABERDEEN CHILE FD INC COM 00301W105 5,495 776,076 SH   SOLE   776,076 0 0
ABERDEEN GTR CHINA FD COM 003031101 572 49,865 SH   SOLE   49,865 0 0
ABERDEEN EMERGING MKTS SMALL COM 00301T102 292 21,130 SH   SOLE   21,130 0 0
ABERDEEN INDONESIA FD COM 00305P106 108 14,227 SH   SOLE   14,227 0 0
ABERDEEN ISRAEL FUND INC COM 00301L109 3,830 198,089 SH   SOLE   198,089 0 0
ABERDEEN JAPAN EQUITY FD COM 00306J109 2,199 258,723 SH   SOLE   258,723 0 0
ABERDEEN SINGAPORE FD INC COM 003244100 3,387 305,856 SH   SOLE   305,856 0 0
ADAMS EXPRESS COMPANY COM 006212104 2,717 190,152 SH   SOLE   190,152 0 0
ADVENT/CLAYMORE ENH GR & INC COM 00765E104 8,305 553,318 SH   SOLE   553,318 0 0
ALPINE GLOBAL PREMIER PPTYS COM 02083A103 1,437 226,679 SH   SOLE   226,679 0 0
ANDINA ACQUISITION CORP II SHS G0441P104 1,985 196,406 SH   SOLE   196,406 0 0
ANDINA ACQUISITION CORP II RIGHT 09/01/2017 G0441P120 86 196,406 SH   SOLE   196,406 0 0
ANDINA ACQUISITION CORP II *W EXP 11/23/202 G0441P138 41 196,406 SH   SOLE   196,406 0 0
ASIA TIGERS FUND INC COM 04516T105 1,922 161,657 SH   SOLE   161,657 0 0
AVISTA HEALTHCARE PUB ACQ CO COM G0726L125 2,447 248,436 SH   SOLE   248,436 0 0
AVISTA HEALTHCARE PUB ACQ CO *W EXP 99/99/999 G0726L117 112 248,436 SH   SOLE   248,436 0 0
AXAR ACQUISTION COPR *WEXP 05455L102 12 145,430 SH   SOLE   145,430 0 0
BARINGTON HILCO ACQUISITION COM 06759V101 508 49,649 SH   SOLE   49,649 0 0
BARINGTON HILCO ACQUISITION Rights 06759V119 20 49,649 SH   SOLE   49,649 0 0
BARINGTON HILCO ACQUISITION *W EXP 02/11/201 06759V127 7 49,649 SH   SOLE   49,649 0 0
BISON CAPITAL ACQUISITION UNIT G1142P120 2,040 200,000 SH   SOLE   200,000 0 0
BLACKROCK DEBT STRAT FD INC COM NEW 09255R202 779 67,534 SH   SOLE   67,534 0 0
BOSTON OMAHA CORP COM 101044105 461 35,000 SH   SOLE   35,000 0 0
BOULDER GROWTH & INCM FD INC COM 101507101 4,142 426,605 SH   SOLE   426,605 0 0
CENTRAL SECS CORP COM COM 155123102 9,182 368,295 SH   SOLE   368,295 0 0
CHINA FUND INC COM 169373107 2,327 197,158 SH   SOLE   197,158 0 0
CLOUGH GLOBAL EQUITY FUND COM 18914C100 14,037 1,113,189 SH   SOLE   1,113,189 0 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 1,331 125,563 SH   SOLE   125,563 0 0
CONSTELLATION ALPHA CAPITAL UNIT G2379F124 608 60,000 SH   SOLE   60,000 0 0
CREDIT SUISSE ASSET MGMT INC COM 224916106 721 214,073 SH   SOLE   214,073 0 0
CUSHING RENAISSANCE FD COM 231647108 4,183 239,141 SH   SOLE   239,141 0 0
DELAWARE ENHANCED GBL DIV & COM 246060107 6,361 558,016 SH   SOLE   558,016 0 0
DELAWARE INV DIVIDEND & INV COM 245915103 2,358 225,506 SH   SOLE   225,506 0 0
DEUTSCHE GLOBAL HIGH INCOME COM 25158V108 451 51,801 SH   SOLE   51,801 0 0
DEUTSCHE HIGH INCOME OPPORT COM 25158Y102 14,606 981,606 SH   SOLE   981,606 0 0
DEUTSCHE MULTI-MARKET INCOME SHS 25160E102 2,711 308,118 SH   SOLE   308,118 0 0
ELECTRUM SPL ACQUISITION COR SHS G3105C104 273 27,020 SH   SOLE   27,020 0 0
ELECTRUM SPL ACQUISITION COR *W EXP 99/99/999 G3105C112 53 147,507 SH   SOLE   147,507 0 0
ELLSWORTH FUND INC COM 289074106 704 77,045 SH   SOLE   77,045 0 0
EQUUS TOTAL RETURN INC COM 294766100 1,173 497,162 SH   SOLE   497,162 0 0
FIRST TR ENHANCED EQTY INC COM 337318109 3,313 115,620 SH   SOLE   115,620 0 0
FIRSTHAND TECHNOLOGY VALUE COM 33766Y100 2,088 248,905 SH   SOLE   248,905 0 0
FORUM MERGER CORP UNIT 34985B202 4,294 421,427 SH   SOLE   421,427 0 0
FRANKLIN UNVL TR SH BEN INT 355145103 825 115,385 SH   SOLE   115,385 0 0
GDL FUND COM 361570104 272 26,554 SH   SOLE   26,554 0 0
GENERAL AMERICAN INVESTORS COM 368802104 1,677 48,808 SH   SOLE   48,808 0 0
GREAT ELM CAP CORP COM 390320109 4,408 415,072 SH   SOLE   415,072 0 0
GSV CAPITAL CORP COM 36191J101 261 60,104 SH   SOLE   60,104 0 0
HARMONY MERGER CORP-WARRANT *W EXP 01/01/202 413247123 156 195,386 SH   SOLE   195,386 0 0
HERZFELD CARIBBEAN BASIN FD COM 42804T106 331 69,940 SH   SOLE   69,940 0 0
HILL INTERNATIONAL INC COM 431466101 17,009 3,270,947 SH   SOLE   3,270,947 0 0
HUNTER MARITIME ACQUISITION CL A Y37828111 1,829 186,828 SH   SOLE   186,828 0 0
HUNTER MARITIME ACQUISITION WTS W EXP 99/99/999 Y37828129 29 93,414 SH   SOLE   93,414 0 0
INVESCO PA VALUE MUN INCOME TR COM 46132K109 108 8,714 SH   SOLE   8,714 0 0
JAPAN SMALLER CAPTLZTN FD INC COM 47109U104 11,095 966,501 SH   SOLE   966,501 0 0
JETPAY CORP COM 477177109 208 98,985 SH   SOLE   98,985 0 0
JPMORGAN CHINA REGION FD INC COM 48126T104 20,876 1,040,153 SH   SOLE   1,040,153 0 0
KBL MERGER CORP IV UNIT 48242A203 5,121 254,500 SH   SOLE   254,500 0 0
KOREA EQUITY FD INC COM 50063B104 14,278 2,028,103 SH   SOLE   2,028,103 0 0
LAZARD GLOBAL TOT RT & INC COM 52106W103 12,764 780,413 SH   SOLE   780,413 0 0
LAZARD WORLD DIVIDEND & INCOME COM 521076109 271 24,606 SH   SOLE   24,606 0 0
LIBERTY ALL STAR EQUITY FD SH SH BEN INT 530158104 8,923 1,576,533 SH   SOLE   1,576,533 0 0
M I ACQUISITION CORP UNIT 99/99/9999 55304A203 3,963 384,235 SH   SOLE   384,235 0 0
M III ACQUISITION CORP UNIT 99/99/9999T 55378T203 2,687 261,911 SH   SOLE   261,911 0 0
MORGAN STANLEY ASIA PAC FD COM 61744U106 7,519 452,116 SH   SOLE   452,116 0 0
MVC CAPITAL INC COM 553829102 13,301 1,348,959 SH   SOLE   1,348,959 0 0
NEUBERGER BERMAN REAL ESTATE COM 64190A103 9,819 1,818,319 SH   SOLE   1,818,319 0 0
NEW YORK REIT INC COM 64976L109 29,649 3,431,561 SH   SOLE   3,431,561 0 0
NEXPOINT CR STRATEGIES FD COM NEW 65340G205 1,309 60,101 SH   SOLE   60,101 0 0
ORIGO ACQUISITION CORP SHS G67789126 340 32,736 SH   SOLE   32,736 0 0
ORIGO ACQUISITION CORP-RTS RIGHT 12/12/2016 G67789134 17 73,423 SH   SOLE   73,423 0 0
ORIGO ACQUISITION COR. WT *W EXP 12/17/202 G67789118 13 73,423 SH   SOLE   73,423 0 0
PACHOLDER HIGH YIELD FUND COM 693742108 14,258 1,791,276 SH   SOLE   1,791,276 0 0
PACIFIC SPECIAL ACQUISITION SHS G68588105 2,368 329,370 SH   SOLE   329,370 0 0
PACIFIC SPECIAL ACQUISITION RIGHT 03/15/2017 G68588113 1,320 309,084 SH   SOLE   309,084 0 0
PACIFIC SPECIAL ACQUISITION *W EXP 10/20/202 G68588121 152 292,853 SH   SOLE   292,853 0 0
PUTNAM HIGH INCOME SECURITIE SHS BEN INT 746779107 13,028 1,482,158 SH   SOLE   1,482,158 0 0
QUINPARIO ACQUISITION C-CW23 *W EXP 01/01/202 74874U119 12 32,582 SH   SOLE   32,582 0 0
ROYCE VALUE TRUST COM 780910105 1,083 74,200 SH   SOLE   74,200 0 0
SOURCE CAPITAL INC COM 836144105 3,949 102,165 SH   SOLE   102,165 0 0
STELLAR ACQUISITION III INC COM Y8172W107 6,427 640,219 SH   SOLE   640,219 0 0
STELLAR AQCUISITION III *W EXP 03/22/202 Y8172W115 205 640,219 SH   SOLE   640,219 0 0
STEWART INFORMATION SERVICES COM 860372101 34,463 759,436 SH   SOLE   759,436 0 0
SWISS HELVETIA FUND COM 870875101 24,357 1,917,876 SH   SOLE   1,917,876 0 0
TAIWAN FD INC COM 874036106 330 17,689 SH   SOLE   17,689 0 0
TRI CONTL CORP COM COM 895436103 7,638 313,691 SH   SOLE   313,691 0 0
TRINITY PLACE HOLDINGS INC COM 89656D101 451 63,489 SH   SOLE   63,489 0 0
TURKISH INVT FD INC COM 900145103 523 54,207 SH   SOLE   54,207 0 0
VIVOPOWER INTERNATIONAL PLC SHS G9376R100 224 58,609 SH   SOLE   58,609 0 0