Relative Value Partners

Relative Value Partners as of Dec. 31, 2012

Portfolio Holdings for Relative Value Partners

Relative Value Partners holds 69 positions in its portfolio as reported in the December 2012 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares S&P 100 Index (OEF) 20.8 $45M 692k 64.69
Vanguard Total Bond Market ETF (BND) 11.5 $25M 295k 84.03
Powershares Senior Loan Portfo mf 6.5 $14M 555k 24.98
Alerian Mlp Etf 6.2 $13M 835k 15.95
Zweig Fund 4.9 $11M 873k 12.16
BlackRock Global Opportunities Equity Tr (BOE) 4.2 $9.1M 686k 13.20
Vanguard Total Stock Market ETF (VTI) 3.9 $8.4M 115k 73.28
iShares Lehman 7-10 Yr Treas. Bond (IEF) 3.7 $8.0M 74k 107.48
Vanguard Information Technology ETF (VGT) 3.2 $6.9M 100k 69.11
Ishares Inc msci glb gold 3.2 $6.8M 354k 19.29
Nuveen Equity Premium Opportunity Fund 2.8 $6.1M 503k 12.07
Western Asset Inflation Mgnt Fnd 2.8 $6.0M 318k 18.79
Nuveen Equity Premium Income Fund (BXMX) 2.4 $5.2M 440k 11.83
Agic Equity & Conv Income 2.1 $4.6M 274k 16.64
Guggenheim Enhanced Equity Strategy 2.0 $4.3M 260k 16.66
iShares Lehman Short Treasury Bond (SHV) 2.0 $4.2M 38k 110.25
Proshs Ultrashrt S&p500 Prosha etf 2.0 $4.2M 78k 54.11
Nuveen Equity Premium Advantage Fund 1.6 $3.4M 286k 11.90
BlackRock Enhanced Capital and Income (CII) 1.5 $3.3M 266k 12.42
Nuveen Equity Premium and Growth Fund (SPXX) 1.5 $3.2M 248k 12.93
NFJ Dividend Interest & Premium Strategy 1.1 $2.4M 151k 15.60
Macquarie Global Infr Total Rtrn Fnd 1.1 $2.3M 119k 19.07
Ellsworth Fund (ECF) 1.0 $2.2M 315k 7.14
Clough Gbl Opps Fund Sh Ben Int closed-end fund (GLO) 0.8 $1.8M 153k 11.74
SPDR Barclays Capital 1-3 Month T- 0.5 $1.0M 22k 45.82
Vanguard Intermediate Tm Cpte Bd ETF (VCIT) 0.5 $999k 11k 87.63
Loews Corporation (L) 0.3 $701k 17k 40.76
Eaton Vance Enhanced Equity Income Fund (EOI) 0.3 $662k 62k 10.66
BLACKROCK INTL GRWTH & INC T COM Bene Inter (BGY) 0.3 $670k 91k 7.35
Eaton Vance Short Duration Diversified I (EVG) 0.3 $634k 37k 17.31
Putnam Municipal Opportunities Trust (PMO) 0.2 $531k 41k 12.95
OmniAmerican Ban 0.2 $526k 23k 23.12
Eaton Vance Tax-Managed Global Buy-Write (ETW) 0.2 $516k 48k 10.69
Intel Corporation (INTC) 0.2 $481k 23k 20.64
Polonia Bancorp Inc Md 0.2 $470k 58k 8.05
Chevron Corporation (CVX) 0.2 $433k 4.0k 108.25
Microsoft Corporation (MSFT) 0.2 $401k 15k 26.73
iShares IBoxx $ Invest Grade Corp Bd (LQD) 0.2 $407k 3.4k 120.84
Morgan Stanley Asia Pacific Fund 0.2 $386k 26k 14.97
Virtus Total Return Fund Cef 0.2 $391k 101k 3.87
Johnson & Johnson (JNJ) 0.2 $359k 5.1k 70.12
Utilities SPDR (XLU) 0.2 $349k 10k 34.90
Pfizer (PFE) 0.1 $322k 13k 25.06
THE GDL FUND Closed-End fund (GDL) 0.1 $314k 28k 11.42
Citigroup (C) 0.1 $317k 8.0k 39.51
Market Vectors Gold Miners ETF 0.1 $308k 6.7k 46.32
Liberty All-Star Growth Fund (ASG) 0.1 $302k 74k 4.06
Merck & Co (MRK) 0.1 $266k 6.5k 40.92
Technology SPDR (XLK) 0.1 $251k 8.7k 28.80
Spdr Euro Stoxx 50 Etf (FEZ) 0.1 $252k 7.3k 34.62
Nuveen Mult Curr St Gv Incm 0.1 $261k 20k 12.88
JPMorgan Chase & Co. (JPM) 0.1 $242k 5.5k 44.00
Verizon Communications (VZ) 0.1 $238k 5.5k 43.27
Calamos Convertible & Hi Income Fund (CHY) 0.1 $243k 20k 12.15
New Germany Fund (GF) 0.1 $245k 16k 15.60
Bank of America Corporation (BAC) 0.1 $212k 18k 11.63
Vanguard Emerging Markets ETF (VWO) 0.1 $216k 4.8k 44.62
Vanguard Energy ETF (VDE) 0.1 $211k 2.1k 102.23
General Electric Company 0.1 $201k 9.6k 21.03
iShares MSCI Japan Index 0.1 $190k 20k 9.75
Cohen & Steers infrastucture Fund (UTF) 0.1 $189k 10k 18.72
MFS Charter Income Trust (MCR) 0.1 $198k 20k 10.12
Nuveen Multi-Strategy Income & Growth (JPC) 0.1 $143k 15k 9.71
CFS Ban 0.1 $129k 21k 6.29
Intervest Bancshares 0.0 $82k 21k 3.89
Alexco Resource Corp 0.0 $55k 16k 3.55
Supervalu 0.0 $32k 13k 2.46
Gulf Resources 0.0 $18k 15k 1.17
Sonde Resources 0.0 $30k 18k 1.66