Relative Value Partners

Relative Value Partners as of March 31, 2012

Portfolio Holdings for Relative Value Partners

Relative Value Partners holds 74 positions in its portfolio as reported in the March 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares S&P 100 Index (OEF) 12.4 $32M 492k 64.04
Powershares Senior Loan Portfo mf 8.1 $21M 838k 24.58
Vanguard Total Bond Market ETF (BND) 7.9 $20M 242k 83.28
Eaton Vance Tax Managed Buy Write Opport (ETV) 4.8 $12M 942k 12.94
LMP Capital and Income Fund (SCD) 4.3 $11M 820k 13.39
iShares Lehman Short Treasury Bond (SHV) 3.9 $10M 91k 110.19
Energy Select Sector SPDR (XLE) 3.0 $7.7M 108k 71.75
BlackRock Credit All Inc Trust II 3.0 $7.7M 735k 10.51
iShares IBoxx $ Invest Grade Corp Bd (LQD) 3.0 $7.7M 66k 115.63
Technology SPDR (XLK) 2.9 $7.4M 246k 30.16
Utilities SPDR (XLU) 2.9 $7.4M 211k 35.04
Blackrock Res & Commodities Strategy Tr (BCX) 2.7 $6.9M 456k 15.13
SPDR Barclays Capital 1-3 Month T- 2.7 $6.8M 149k 45.82
SPDR Barclays Capital High Yield B 2.6 $6.7M 169k 39.37
Alerian Mlp Etf 2.5 $6.5M 389k 16.64
Nuveen Equity Premium Opportunity Fund 2.5 $6.3M 518k 12.18
Market Vectors Gold Miners ETF 2.3 $5.8M 116k 49.54
MFS Multimarket Income Trust (MMT) 2.2 $5.5M 792k 6.98
Agic Equity & Conv Income 2.0 $5.2M 292k 17.77
Nuveen Equity Premium Income Fund (BXMX) 1.8 $4.7M 390k 11.97
Putnam Municipal Opportunities Trust (PMO) 1.8 $4.7M 371k 12.55
ProShares UltraShort S&P500 1.8 $4.6M 302k 15.09
Ellsworth Fund (ECF) 1.5 $3.9M 529k 7.35
BlackRock Enhanced Capital and Income (CII) 1.4 $3.7M 272k 13.49
Guggenheim Enhanced Equity Strategy 1.4 $3.7M 215k 17.20
Eaton Vance Limited Duration Income Fund (EVV) 1.3 $3.2M 201k 16.05
BlackRock Enhanced Dividend Achievers Tr (BDJ) 1.0 $2.6M 347k 7.50
Nuveen Equity Premium and Growth Fund (SPXX) 0.9 $2.3M 175k 13.33
Zweig Total Return Fund 0.9 $2.3M 712k 3.20
Macquarie Global Infr Total Rtrn Fnd 0.9 $2.2M 119k 18.45
THE GDL FUND Closed-End fund (GDL) 0.8 $2.1M 174k 12.27
Clough Gbl Opps Fund Sh Ben Int closed-end fund (GLO) 0.8 $2.0M 168k 11.78
MFS Charter Income Trust (MCR) 0.7 $1.7M 182k 9.57
Eaton Vance Short Duration Diversified I (EVG) 0.6 $1.6M 94k 17.08
Eaton Vance Tax-Managed Buy-Write Income (ETB) 0.6 $1.4M 104k 13.70
Nuveen Equity Premium Advantage Fund 0.4 $1.0M 83k 12.12
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 0.4 $955k 11k 83.77
Berkshire Hathaway (BRK.B) 0.3 $714k 8.8k 81.14
Loews Corporation (L) 0.3 $686k 17k 39.88
iShares Lehman Aggregate Bond (AGG) 0.3 $655k 6.0k 109.88
Eaton Vance Enhanced Equity Income Fund (EOI) 0.3 $668k 60k 11.07
Pfizer (PFE) 0.2 $572k 25k 22.63
Morgan Stanley Asia Pacific Fund 0.2 $564k 38k 14.87
BLACKROCK INTL GRWTH & INC T COM Bene Inter (BGY) 0.2 $558k 71k 7.85
Chevron Corporation (CVX) 0.2 $536k 5.0k 107.20
SPDR S&P Dividend (SDY) 0.2 $521k 9.2k 56.63
Lincoln National Corporation (LNC) 0.2 $506k 19k 26.37
OmniAmerican Ban 0.2 $503k 26k 19.35
Microsoft Corporation (MSFT) 0.2 $476k 15k 32.27
Eaton Vance Tax-Managed Global Buy-Write (ETW) 0.2 $434k 39k 11.03
Intel Corporation (INTC) 0.1 $380k 14k 28.15
NFJ Dividend Interest & Premium Strategy 0.1 $385k 22k 17.88
Johnson & Johnson (JNJ) 0.1 $321k 4.9k 65.91
Virtus Total Return Fund Cef 0.1 $331k 87k 3.80
New Germany Fund (GF) 0.1 $271k 18k 15.07
Citigroup (C) 0.1 $248k 6.8k 36.61
JPMorgan Chase & Co. (JPM) 0.1 $230k 5.0k 46.00
Redwood Trust (RWT) 0.1 $241k 22k 11.21
Merck & Co (MRK) 0.1 $240k 6.3k 38.34
ING Global Equity Divid.&Premium Opp-ETF 0.1 $221k 23k 9.61
Vanguard Energy ETF (VDE) 0.1 $217k 2.1k 105.14
General Electric Company 0.1 $202k 10k 20.08
Verizon Communications (VZ) 0.1 $210k 5.5k 38.18
ConocoPhillips (COP) 0.1 $213k 2.8k 76.07
H.J. Heinz Company 0.1 $202k 3.8k 53.58
iShares MSCI Japan Index 0.1 $206k 20k 10.19
Cohen & Steers infrastucture Fund (UTF) 0.1 $200k 11k 17.56
Bank of America Corporation (BAC) 0.1 $174k 18k 9.55
MFA Mortgage Investments 0.1 $120k 16k 7.50
CFS Ban 0.0 $86k 15k 5.73
Intervest Bancshares 0.0 $79k 21k 3.83
Phoenix Companies 0.0 $37k 15k 2.47
Gulf Resources 0.0 $33k 14k 2.37
ZBB Energy Corporation (ZBB) 0.0 $7.0k 10k 0.70