Relative Value Partners

Relative Value Partners as of March 31, 2011

Portfolio Holdings for Relative Value Partners

Relative Value Partners holds 58 positions in its portfolio as reported in the March 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
iShares S&P 100 Index (OEF) 10.8 $21M 348k 59.35
NFJ Dividend Interest & Premium Strategy 8.0 $15M 845k 18.18
Special Opportunities Fund (SPE) 8.0 $15M 1000k 15.31
Vanguard Total Bond Market ETF (BND) 6.9 $13M 165k 80.02
SunAmerica Focused Alpha Growth Fund 6.6 $13M 628k 20.01
Energy Select Sector SPDR (XLE) 5.4 $10M 129k 79.75
Tri-Continental Corporation (TY) 4.2 $8.0M 550k 14.62
BlackRock Credit All Inc Trust II 3.8 $7.2M 733k 9.83
Utilities SPDR (XLU) 3.6 $7.0M 219k 31.87
Eaton Vance Tax Managed Diversified Eq. (ETY) 3.6 $6.9M 625k 11.00
TS&W/Claymore Tax-Advantaged Balanced Fu (TYW) 3.6 $6.8M 621k 11.01
SunAmerica Focused Alpha Large Cap Fund 3.5 $6.7M 370k 18.17
Market Vectors Gold Miners ETF 3.4 $6.5M 108k 60.10
Ellsworth Fund (ECF) 3.2 $6.1M 800k 7.58
Technology SPDR (XLK) 3.2 $6.1M 232k 26.06
Clough Gbl Opps Fund Sh Ben Int closed-end fund (GLO) 3.0 $5.7M 409k 13.85
Putnam Municipal Opportunities Trust (PMO) 2.8 $5.4M 497k 10.84
ProShares UltraShort S&P500 1.8 $3.5M 166k 20.92
Aberdeen Asia-Pacific Income Fund (FAX) 1.8 $3.4M 489k 6.93
THE GDL FUND Closed-End fund (GDL) 1.4 $2.7M 198k 13.53
Eaton Vance Short Duration Diversified I (EVG) 1.1 $2.2M 129k 16.93
MFS Charter Income Trust (MCR) 0.9 $1.8M 195k 9.14
SPDR Barclays Capital 1-3 Month T- 0.9 $1.8M 39k 45.85
Eaton Vance Limited Duration Income Fund (EVV) 0.9 $1.8M 110k 15.98
Morgan Stanley Asia Pacific Fund 0.6 $1.2M 73k 17.04
Claymore Dividend and Income Fund 0.6 $1.2M 72k 16.69
Chevron Corporation (CVX) 0.5 $975k 9.1k 107.53
Loews Corporation (L) 0.5 $914k 21k 43.11
Cohen & Steers infrastucture Fund (UTF) 0.5 $910k 52k 17.65
MFS Government Markets Income Trust (MGF) 0.5 $879k 137k 6.40
OmniAmerican Ban 0.4 $814k 51k 15.84
Microsoft Corporation (MSFT) 0.3 $660k 26k 25.38
iShares Lehman Aggregate Bond (AGG) 0.3 $646k 6.1k 105.13
Berkshire Hathaway (BRK.B) 0.3 $569k 6.8k 83.68
Eaton Vance Tax-Managed Global Buy-Write (ETW) 0.2 $381k 31k 12.26
Taiwan Greater China Fund 0.2 $392k 54k 7.21
Bank of America Corporation (BAC) 0.2 $367k 28k 13.33
United States Oil Fund 0.2 $341k 8.0k 42.62
Macquarie Global Infr Total Rtrn Fnd 0.2 $338k 19k 18.21
Nuveen Mortgage opportunity trm fd2 0.2 $325k 13k 24.40
New Germany Fund (GF) 0.2 $315k 18k 17.35
Johnson & Johnson (JNJ) 0.1 $274k 4.6k 59.31
Intel Corporation (INTC) 0.1 $268k 13k 20.17
Citi 0.1 $269k 61k 4.43
iShares MSCI EAFE Index Fund (EFA) 0.1 $268k 4.5k 60.04
Pfizer (PFE) 0.1 $257k 13k 20.30
Verizon Communications (VZ) 0.1 $254k 6.6k 38.48
Bucyrus International 0.1 $240k 2.6k 91.43
JPMorgan Chase & Co. (JPM) 0.1 $231k 5.0k 46.20
Spdr S&p 500 Etf (SPY) 0.1 $239k 1.8k 132.78
ConocoPhillips (COP) 0.1 $224k 2.8k 80.00
Bancroft Fund (BCV) 0.1 $235k 13k 17.51
Cisco Systems (CSCO) 0.1 $200k 12k 17.13
Redwood Trust (RWT) 0.1 $173k 11k 15.54
Nuveen Mult Curr St Gv Incm 0.1 $162k 12k 13.95
MFA Mortgage Investments 0.1 $90k 11k 8.18
Provident Energy 0.1 $97k 11k 9.24
Phoenix Companies 0.0 $36k 13k 2.70