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
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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 AUSTRALIA EQTY FD I COM 003011103 540 100,737 SH   SOLE   100,737 0 0
ABERDEEN CHILE FD INC COM 00301W105 1,309 218,859 SH   SOLE   218,859 0 0
ABERDEEN EMERGING MKTS SMALL COM 00301T102 477 44,540 SH   SOLE   44,540 0 0
ABERDEEN GTR CHINA FD INC COM 003031101 477 56,027 SH   SOLE   56,027 0 0
ABERDEEN INDONESIA FD INC COM 00305P106 702 133,913 SH   SOLE   133,913 0 0
ABERDEEN ISRAEL FUND INC COM 00301L109 1,406 83,552 SH   SOLE   83,552 0 0
ABERDEEN JAPAN EQUITY FD INC COM 00306J109 3,033 442,200 SH   SOLE   442,200 0 0
ABERDEEN LATIN AMER EQTY FD COM 00306K106 2,312 142,908 SH   SOLE   142,908 0 0
ABERDEEN SINGAPORE FD INC COM 003244100 520 60,144 SH   SOLE   60,144 0 0
ADAM NAT RES FD INC COM 00548F105 282 15,535 SH   SOLE   15,535 0 0
ADAMS DIVERSIFIED EQUITY FD COM 006212104 23,677 1,857,019 SH   SOLE   1,857,019 0 0
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 417 50,800 SH   SOLE   50,800 0 0
ALPINE GLOBAL DYNAMIC DIVD F COM NEW 02082E205 96 11,200 SH   SOLE   11,200 0 0
ALPINE GLOBAL PREMIER PPTYS COM SBI 02083A103 350 62,700 SH   SOLE   62,700 0 0
ALPINE TOTAL DYNAMIC DIVID F COM SH BEN INT N 021060207 3,206 427,497 SH   SOLE   427,497 0 0
ASIA PAC FD INC COM 044901106 603 58,590 SH   SOLE   58,590 0 0
ASIA TIGERS FD INC COM 04516T105 22 2,390 SH   SOLE   2,390 0 0
BANCROFT FUND LTD COM 059695106 295 15,791 SH   SOLE   15,791 0 0
BANRO CORP COM 066800103 1,368 8,294,250 SH   SOLE   8,294,250 0 0
BOULDER GROWTH & INCOME FD I COM 101507101 10,853 1,456,745 SH   SOLE   1,456,745 0 0
CENTRAL EUR RUSS & TURK FD I COM 153436100 2,045 114,297 SH   SOLE   114,297 0 0
CENTRAL SECS CORP COM 155123102 12,504 632,775 SH   SOLE   632,775 0 0
CHINA FD INC COM 169373107 788 49,510 SH   SOLE   49,510 0 0
CLOUGH GLOBAL ALLOCATION FD COM 18913Y103 1,626 124,422 SH   SOLE   124,422 0 0
CLOUGH GLOBAL EQUITY FD COM 18914C100 84 6,600 SH   SOLE   6,600 0 0
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 2,386 223,000 SH   SOLE   223,000 0 0
COHEN & STEERS INFRASTRUCTUR COM 19248A109 117 6,140 SH   SOLE   6,140 0 0
DIREXION SHS ETF TR DLY EMRGMKT BULL 25459Y686 4,530 375,000 SH   SOLE   375,000 0 0
ELLSWORTH GROWTH & INCOME FD COM 289074106 860 109,957 SH   SOLE   109,957 0 0
EUROPEAN EQUITY FUND COM 298768102 1,429 183,623 SH   SOLE   183,623 0 0
FIRST TR EXCH TRD ALPHA FD I TAIWAN ALPHADE 33737J257 54 1,800 SH   SOLE   1,800 0 0
FIRST TR/ABERDEEN EMERG OPT COM 33731K102 698 53,446 SH   SOLE   53,446 0 0
GABELLI GLOBL UTIL & INCOME COM SH BEN INT 36242L105 24 1,469 SH   SOLE   1,469 0 0
GABELLI HLTHCARE & WELLNESS SHS 36246K103 114 11,741 SH   SOLE   11,741 0 0
GDL FUND COM SH BEN IT 361570104 38 3,900 SH   SOLE   3,900 0 0
GENERAL AMERN INVS INC COM 368802104 23,601 761,800 SH   SOLE   761,800 0 0
GLOBAL X FDS FTSE GREECE 20 37950E366 1,249 130,000 SH   SOLE   130,000 0 0
ISHARES MSCI BRZ CAP ETF 464286400 1,098 50,000 SH   SOLE   50,000 0 0
ISHARES MSCI STH AFR ETF 464286780 110 2,040 SH   SOLE   2,040 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 26 800 SH   SOLE   800 0 0
ISHARES TR MSCI EAFE ETF 464287465 441 7,700 SH   SOLE   7,700 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 18,716 139,700 SH   SOLE   139,700 0 0
JAPAN SMALLER CAPTLZTN FD IN COM 47109U104 2,710 266,499 SH   SOLE   266,499 0 0
JPMORGAN CHINA REGION FD INC COM 48126T104 2,911 203,289 SH   SOLE   203,289 0 0
KOREA EQUITY FD INC COM 50063B104 1,724 240,440 SH   SOLE   240,440 0 0
KOREA FD COM NEW 500634209 3,448 97,083 SH   SOLE   97,083 0 0
LATIN AMERN DISCOVERY FD INC COM 51828C106 627 79,694 SH   SOLE   79,694 0 0
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 17,544 3,453,571 SH   SOLE   3,453,571 0 0
MACQUARIE GLBL INFRA TOTL RE COM 55608D101 1,408 73,062 SH   SOLE   73,062 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 1,915 122,000 SH   SOLE   122,000 0 0
MEXICO EQUITY & INCOME FD COM 592834105 2,473 224,792 SH   SOLE   224,792 0 0
MORGAN STANLEY ASIA PAC FD I COM 61744U106 2,903 224,189 SH   SOLE   224,189 0 0
MORGAN STANLEY CHINA A SH FD COM 617468103 11,393 507,706 SH   SOLE   507,706 0 0
MORGAN STANLEY INDIA INVS FD COM 61745C105 3,872 146,765 SH   SOLE   146,765 0 0
NEW GERMANY FD INC COM 644465106 278 19,269 SH   SOLE   19,269 0 0
NEW IRELAND FUND INC COM 645673104 1,024 76,132 SH   SOLE   76,132 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 20 200 SH   SOLE   200 0 0
RMR REAL ESTATE INCOME FUND COM 76970B101 27 1,500 SH   SOLE   1,500 0 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 22 3,100 SH   SOLE   3,100 0 0
ROYCE MICRO-CAP TR INC COM 780915104 2,116 273,396 SH   SOLE   273,396 0 0
ROYCE VALUE TR INC COM 780910105 11,319 984,302 SH   SOLE   984,302 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 594 18,100 SH   SOLE   18,100 0 0
SPROTT FOCUS TR INC COM 85208J109 86 14,600 SH   SOLE   14,600 0 0
SWISS HELVETIA FD INC COM 870875101 4,538 417,837 SH   SOLE   417,837 0 0
TAIWAN FD INC COM 874036106 1,489 102,893 SH   SOLE   102,893 0 0
TEMPLETON DRAGON FD INC COM 88018T101 2,130 114,025 SH   SOLE   114,025 0 0
TEMPLETON RUS AND EAST EUR F COM 88022F105 565 58,032 SH   SOLE   58,032 0 0
THAI FD INC COM 882904105 4,241 599,051 SH   SOLE   599,051 0 0
TRI CONTL CORP COM 895436103 22,922 1,175,463 SH   SOLE   1,175,463 0 0
TURKISH INVT FD INC COM 900145103 1,217 152,095 SH   SOLE   152,095 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 64,197 4,215,173 SH   SOLE   4,215,173 0 0
ZWEIG FD COM NEW 989834205 320 24,949 SH   SOLE   24,949 0 0