0001649910-22-000001.txt : 20220211 0001649910-22-000001.hdr.sgml : 20220211 20220211110415 ACCESSION NUMBER: 0001649910-22-000001 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20211231 FILED AS OF DATE: 20220211 DATE AS OF CHANGE: 20220211 EFFECTIVENESS DATE: 20220211 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Relative Value Partners Group, LLC CENTRAL INDEX KEY: 0001649910 IRS NUMBER: 474067697 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-16978 FILM NUMBER: 22617735 BUSINESS ADDRESS: BUSINESS PHONE: 847-513-6300 MAIL ADDRESS: STREET 1: 1033 SKOKIE BLVD. STREET 2: SUITE 470 CITY: NORTHBROOK STATE: IL ZIP: 60062 13F-HR 1 primary_doc.xml 13F-HR LIVE false false true 0001649910 XXXXXXXX 12-31-2021 12-31-2021 Relative Value Partners Group, LLC

1033 SKOKIE BLVD. SUITE 470 NORTHBROOK IL 60062

13F HOLDINGS REPORT 028-16978 N MAURY FERTIG 847-513-6300 /s/ MAURY FERTIG NORTHBROOK IL 02-11-2022 0 188 1409062 false INFORMATION TABLE 2 rvp13f4q2021.xml ABBOTT LABS COM 002824100 798 5671 SH SOLE 5671 0 0 ABBVIE INC COM 00287Y109 785 5798 SH SOLE 5798 0 0 ABERDEEN EMRG MRKTS EQT INM COM 00301W105 8467 1049232 SH SOLE 1049232 0 0 ABERDEEN GLOBAL DYNAMIC DIVID COM 00302M106 309 25392 SH SOLE 25392 0 0 ABERDEEN JAPAN EQUITY FD INC COM 00306J109 232 25470 SH SOLE 25470 0 0 ABSOLUTE SAOFTWARE COM 00386B109 95 10053 SH SOLE 10053 0 0 AEGON N V NY REGISTRY SHS 007924103 57 11500 SH SOLE 11500 0 0 AFFILIATED MANAGERS GROUP COM 008252108 418 2540 SH SOLE 2540 0 0 APPLE INC COM 037833100 919 5173 SH SOLE 5173 0 0 ARES ACQUISITION CORPORATION COM CL A G33032106 628 64500 SH SOLE 64500 0 0 ARES CAPITAL CORP COM 04010L103 1624 76652 SH SOLE 76652 0 0 ARES COML REAL ESTATE CORP COM 04013V108 3484 234023 SH SOLE 234023 0 0 AUTOMATIC DATA PROCESSING INC COM 053015103 792 3200 SH SOLE 3200 0 0 BARCLAYS BANK PLC IPATH SELCT MLP 06742C723 363 23342 SH SOLE 23342 0 0 BARINGS BDC INC COM 06759L103 16041 1455589 SH SOLE 1455589 0 0 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 460 1538 SH SOLE 1538 0 0 BK OF AMERICA CORP COM 060505104 927 20830 SH SOLE 20830 0 0 BLACKROCK CAP ALLOCATION TR COM 09260U109 932 47905 SH SOLE 47905 0 0 BLACKROCK FLOAT RATE INCM COM 09255X100 16587 1228974 SH SOLE 1228974 0 0 BLACKROCK MUNIHLDS INVSTM QL COM 09254P108 906 60979 SH SOLE 60979 0 0 BLUE FOUNDRY BANCORP COM 09549B104 375 25600 SH SOLE 25600 0 0 BRIGHTSPIRE CAPITAL INC COM CL A 10949T109 6645 636480 SH SOLE 636480 0 0 BRT APARTMENTS CORP COM 055645303 4334 178955 SH SOLE 178955 0 0 CC NEUBERGER PRIN HLDGS II SHS CL A G3166T103 496 50052 SH SOLE 50052 0 0 CHEVRON CORP NEW COM 166764100 901 7679 SH SOLE 7679 0 0 CISCO SYS INC COM 17275R102 602 9500 SH SOLE 9500 0 0 CITIGROUP INC COM 172967424 2198 36404 SH SOLE 36404 0 0 COHEN & STEERS TAX ADVAN PFD COM 19249X108 1703 70680 SH SOLE 70680 0 0 CONOCOPHILLIPS COM 20825C104 217 3000 SH SOLE 3000 0 0 DIMENSIONAL ETF TRUST INTERNATNAL VAL 25434V807 9731 296510 SH SOLE 296510 0 0 DOUBLELINE YIELD OPPORTUNITI COM 25862D105 1360 72712 SH SOLE 72712 0 0 EASTERN BANKSHARES INC COM 27627N105 4105 203500 SH SOLE 203500 0 0 EATON VANCE ENHANCED EQTY INCM COM 278274105 562 27890 SH SOLE 27890 0 0 EATON VANCE LTD DUR INCOME COM 27828H105 737 56288 SH SOLE 56288 0 0 EATON VANCE MUN BD FD COM 27827X101 10022 738006 SH SOLE 738006 0 0 EATON VANCE TX MGD DIV EQ IN COM 27828N102 151 10000 SH SOLE 10000 0 0 ELLSWORTH GROWTH & INCOME FD COM 289074106 361 29216 SH SOLE 29216 0 0 EQUITY COMWLTH COM SH BEN INT 294628102 5236 202149 SH SOLE 202149 0 0 EQUITY RESIDENTIAL SH BEN INT 29476L107 3500 38423 SH SOLE 38423 0 0 EUROPEAN EQUITY FD INC COM 298768102 238 21192 SH SOLE 21192 0 0 FIRST TR EXCH TRADED FD III PFD SECS INC ETF 33739E108 1005 49461 SH SOLE 49461 0 0 FIRST TR EXCHANGE-TRADED FD NO AMER ENERGY 33738D101 2889 115759 SH SOLE 115759 0 0 FOCUS FINL PARTNERS INC COM CL A 34417P100 9819 164415 SH SOLE 164415 0 0 GDL FUND COM SH BEN IT 361570104 10073 1128015 SH SOLE 1128015 0 0 GENERAL MOTORS CORP COM 37045V100 776 13230 SH SOLE 13230 0 0 GENWORTH FINL INC COM CL A 37247D106 49 12000 SH SOLE 12000 0 0 GLOBAL X FDS NASDAQ 100 COVER 37954Y483 3278 147718 SH SOLE 147718 0 0 GOLUB CAP BDC INC COM 38173M102 4451 283624 SH SOLE 283624 0 0 GRANITE PT MTG TR INC COM 38741L107 6393 545928 SH SOLE 545928 0 0 HAMILTON LANE ALLIANCE HLDGS COM CL A 40749M103 1026 105047 SH SOLE 105047 0 0 HARTFORD FINL SVCS GROUP INC COM 416515104 364 5250 SH SOLE 5250 0 0 IHS MARKIT LTD SHS G47567105 1138 8560 SH SOLE 8560 0 0 INDEPENDENT BANK GROUP INC COM 45384B106 313 4336 SH SOLE 4336 0 0 INTEL CORP COM 458140100 963 18700 SH SOLE 18700 0 0 INVESCO EXCH TRADED FD TR II FTSE RAFI EMNG 46138E727 2309 105495 SH SOLE 105495 0 0 INVESCO EXCH TRADED FD TR II FTSE RAFI DEV 46138E743 1406 29678 SH SOLE 29678 0 0 INVESCO EXCHANGE TRADED FD FTSE RAFI 1000 46137V613 49987 291130 SH SOLE 291130 0 0 INVESCO SR INCOME TR COM 46131H107 610 140582 SH SOLE 140582 0 0 ISHARES GOLD TR ISHARES NEW 464285204 1956 56197 SH SOLE 56197 0 0 ISHARES INC MSCI JPN ETF NEW 46434G822 2273 33944 SH SOLE 33944 0 0 ISHARES TR 3-7 YR TREAS BD 464288661 5151 40035 SH SOLE 40035 0 0 ISHARES TR BARCLAYS 7-10 YR 464287440 34985 304220 SH SOLE 304220 0 0 ISHARES TR CORE MSCI EAFE 46432F842 5198 69542 SH SOLE 69542 0 0 ISHARES TR CORE MSCI EMKT 46434G103 9910 165545 SH SOLE 165545 0 0 ISHARES TR CRE U S REIT ETF 464288521 3949 58420 SH SOLE 58420 0 0 ISHARES TR GRWT ALLOCAT ETF 464289867 1057 18524 SH SOLE 18524 0 0 ISHARES TR INTL QLTY FACTOR 46434V456 260 6603 SH SOLE 6603 0 0 ISHARES TR USA QUALITY FCTR 46432F339 4695 32252 SH SOLE 32252 0 0 ISHARES TR EDGE MSCI USA VL 46432F388 3167 28934 SH SOLE 28934 0 0 ISHARES TR RUS 1000 VAL ETF 464287598 8368 49831 SH SOLE 49831 0 0 ISHARES TR RUSSELL 2000 ETF 464287655 444 1995 SH SOLE 1995 0 0 ISHARES TR S&P 500 INDEX 464287200 30931 64846 SH SOLE 64846 0 0 ISHARES TR S&P 500 VAL ETF 464287408 37185 237408 SH SOLE 237408 0 0 ISHARES TR S&P MIDCAP FUND 464287507 7724 27284 SH SOLE 27284 0 0 ISHARES TR SP SMCP600VL ETF 464287879 3484 33347 SH SOLE 33347 0 0 ISHARES TR PFD AND INCM SEC 464288687 1251 31728 SH SOLE 31728 0 0 ISHARES TR SHORT TREAS BD 464288679 418 3787 SH SOLE 3787 0 0 ISHARES TR US TREAS BD ETF 46429B267 62345 2336785 SH SOLE 2336785 0 0 ISHARES TR 0-3 MNTH TREASRY 46436E718 23151 231448 SH SOLE 231448 0 0 ISHARES TR CMBS ETF 46429B366 35706 673326 SH SOLE 673326 0 0 ISHARES TR CORE HIGH DV ETF 46429B663 670 6636 SH SOLE 6636 0 0 ISHARES TR IBONDS DEC22 ETF 46434VBA7 11253 447622 SH SOLE 447622 0 0 ISHARES TR INTL SEL DIV ETF 464288448 293 9389 SH SOLE 9389 0 0 ISHARES TR MSCI EAFE ETF 464287465 1605 20361 SH SOLE 20361 0 0 ISHARES TR RUS 1000 GRW ETF 464287614 2571 8414 SH SOLE 8414 0 0 ISHARES TR S&P 500 GRWT ETF 464287309 231 2755 SH SOLE 2755 0 0 ISHARES TR S&P 100 ETF 464287101 102507 467792 SH SOLE 467792 0 0 ISHARES TR ISHS 1-5YR INVS 464288646 13312 247062 SH SOLE 247062 0 0 ISHARES U S ETF TR BLACKROCK ST MAT 46431W507 26723 534990 SH SOLE 534990 0 0 J P MORGAN EXCHANGE-TRADED F ULTRA SHT MUNCPL 46641Q654 255 5000 SH SOLE 5000 0 0 JAPAN SMALLER CAPITALIZATION COM 47109U104 1900 241431 SH SOLE 241431 0 0 JOHNSON & JOHNSON COM 478160104 365 2131 SH SOLE 2131 0 0 JPMORGAN CHASE & CO COM 46625H100 365 2308 SH SOLE 2308 0 0 KELLOGG CO COM 487836108 254 3950 SH SOLE 3950 0 0 KINDER MORGAN INC DEL COM 49456B101 4567 287928 SH SOLE 287928 0 0 LADDER CAP CORP CL A 505743104 7661 628544 SH SOLE 628544 0 0 LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 267 31173 SH SOLE 31173 0 0 LILLY ELI & CO COM 532457108 309 1119 SH SOLE 1119 0 0 LINCOLN NATL CORP IND COM 534187109 628 9200 SH SOLE 9200 0 0 LOEWS CORP COM 540424108 1071 18541 SH SOLE 18541 0 0 MACQUARIE GLOBAL INFRASTRUCT COM 55608D101 3990 165159 SH SOLE 165159 0 0 MERCK & CO INC COM 58933Y105 387 5000 SH SOLE 5000 0 0 MFA FINL INC COM 55272X102 91 20000 SH SOLE 20000 0 0 MICROSOFT CORP COM 594918104 2480 7375 SH SOLE 7375 0 0 NEUBERGER BERMAN MLP & ENERG COM 64129H104 2154 411104 SH SOLE 411104 0 0 NEW GERMANY FUND COM 644465106 349 19277 SH SOLE 19277 0 0 NORTHEAST CMNTY BANCORP INC COM 664121100 1038 93300 SH SOLE 93300 0 0 NUVEEN CR OPPORTUNITIES 2022 COM 67075U102 3434 424445 SH SOLE 424445 0 0 NUVEEN CR STRATEGIES INCOME COM SHS 67073D102 159 24513 SH SOLE 24513 0 0 NUVEEN INT DUR QUAL MUN TRM COM 670677103 9644 653837 SH SOLE 653837 0 0 NUVEEN MORTGAGE AND INCOME COM 670735109 10465 499420 SH SOLE 499420 0 0 NUVEEN MULTI ASSET INCOME FD COM 670750108 1668 89459 SH SOLE 89459 0 0 NUVEEN MULTI MKT INCOME FD COM 67075J107 2508 330906 SH SOLE 330906 0 0 NUVEEN NY SELECT TAX FREE PR SH BEN INT 67063V104 457 33596 SH SOLE 33596 0 0 NUVEEN QUALITY MUNCP INCOME COM 67066V101 460 28546 SH SOLE 28546 0 0 NUVEEN REAL ASSET INC & GROW COM 67074Y105 9631 597477 SH SOLE 597477 0 0 OAKTREE ACQUISITION CORP II CL A SHS G6715X103 200 20200 SH SOLE 20200 0 0 OAKTREE SPECIALTY LENDING CO COM 67401P108 7683 1029905 SH SOLE 1029905 0 0 PAYCHEX INC COM 704326107 546 4000 SH SOLE 4000 0 0 PENNANTPARK INVT CORP COM 708062104 7163 1016241 SH SOLE 1016241 0 0 PFIZER INC COM COM 717081103 640 10836 SH SOLE 10836 0 0 PGIM SHORT DUR HIG YLD OPP F COM 69355J104 2842 153320 SH SOLE 153320 0 0 PHILLIPS 66 COM 718546104 246 3395 SH SOLE 3395 0 0 PIMCO ENRGY TACTICAL CR OPP COM SHS BEN INT 69346N107 1971 151029 SH SOLE 151029 0 0 PIMCO ETF TR ENHAN SHRT MA AC 72201R833 44642 439400 SH SOLE 439400 0 0 PRINCIPAL REAL ESTATE INCOME SHS BEN INT 74255X104 2748 174015 SH SOLE 174015 0 0 PUTNAM MUNI OPPORTUNITIES TR SH BEN INT 746922103 593 41000 SH SOLE 41000 0 0 RAYONIER INC COM 754907103 2285 56604 SH SOLE 56604 0 0 ROYCE GLOBAL VALUE TR INC COM 78081T104 194 14775 SH SOLE 14775 0 0 SABA CAPITAL INC & OPTUNTY FD SHARES 78518H103 19903 4403314 SH SOLE 4403314 0 0 SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 669 9341 SH SOLE 9341 0 0 SOUTHSIDE BANCSHARE INC COM 84470P109 302 7225 SH SOLE 7225 0 0 SPDR INDEX SHS FDS PORTFOLIO EMG MK 78463X509 706 17026 SH SOLE 17026 0 0 SPDR INDEX SHS FDS S&P EM MKT DIV 78463X533 6183 207981 SH SOLE 207981 0 0 SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 670 12422 SH SOLE 12422 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 3632 7648 SH SOLE 7648 0 0 SPDR SER TR NUVEEN BLMBRG SR 78468R739 244 4969 SH SOLE 4969 0 0 SPDR SER TR PORTFOLIO AGRGTE 78464A649 522 17626 SH SOLE 17626 0 0 SPDR SER TR PORTFOLIO INTRMD 78464A375 29625 819506 SH SOLE 819506 0 0 SPDR SER TR PORTFOLIO SHORT 78464A474 44886 1449334 SH SOLE 1449334 0 0 SPDR SER TR S&P BIOTECH 78464A870 205 1831 SH SOLE 1831 0 0 SPDR SER TR S&P DIVID ETF 78464A763 1485 11502 SH SOLE 11502 0 0 SPECIAL OPPORTUNITIES FD INC RIGHT 01/21/2022 84741T138 28 641991 SH SOLE 641991 0 0 SPECIAL OPPORTUNITIES FUND INC COM 84741T104 50621 3276437 SH SOLE 3276437 0 0 SSGA ACTIVE ETF TR GLOBL ALLO ETF 78467V400 428 9281 SH SOLE 9281 0 0 TCW SPECIAL PURPOSE ACQU COR COM CL A 87301L106 1148 117653 SH SOLE 117653 0 0 TCW STRATEGIC INCOME FD INC COM 872340104 101 16882 SH SOLE 16882 0 0 TEMPLETON EMERGING MKTS FD I COM 880191101 10723 668500 SH SOLE 668500 0 0 TORTOISE ENERGY INFRA CORP COM 89147L886 412 14740 SH SOLE 14740 0 0 TORTOISE PWR & ENERGY INFRAS COM 89147X104 14017 1029177 SH SOLE 1029177 0 0 TPG RE FIN TR INC COM 87266M107 7706 610198 SH SOLE 610198 0 0 TRI-CONTINENTAL CORP COM 895436103 13098 394648 SH SOLE 394648 0 0 UNION PAC CORP COM 907818108 529 2100 SH SOLE 2100 0 0 UNUM GROUP COM 91529Y106 302 12300 SH SOLE 12300 0 0 VANECK ETF TRUST GOLD MINERS ETF 92189F106 1224 38211 SH SOLE 38211 0 0 VANGUARD BD INDEX FDS SHORT TRM BOND 921937827 5240 64827 SH SOLE 64827 0 0 VANGUARD FTSE ALL-WORLD EX-US ALLWRLD EX US 922042775 508 8282 SH SOLE 8282 0 0 VANGUARD INDEX FDS SMALL CP ETF 922908751 9671 42790 SH SOLE 42790 0 0 VANGUARD INDEX FDS SM CP VAL ETF 922908611 10824 60521 SH SOLE 60521 0 0 VANGUARD INDEX FDS TOTAL STK MKT 922908769 68324 282984 SH SOLE 282984 0 0 VANGUARD INDEX FDS VALUE ETF 922908744 71855 488446 SH SOLE 488446 0 0 VANGUARD INDEX FDS MID CAP ETF 922908629 284 1116 SH SOLE 1116 0 0 VANGUARD INDEX FDS REAL ESTATE ETF 922908553 907 7821 SH SOLE 7821 0 0 VANGUARD INDEX FDS S&P 500 ETF 922908363 229 525 SH SOLE 525 0 0 VANGUARD INTL EQUITY INDEX GLB EX US ETF 922042676 3201 59338 SH SOLE 59338 0 0 VANGUARD INTL EQUITY INDEX TT WRLD ST ETF 922042742 549 5111 SH SOLE 5111 0 0 VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF 922042858 756 15292 SH SOLE 15292 0 0 VANGUARD MALVERN FDS STRM INFPROIDX 922020805 1240 24120 SH SOLE 24120 0 0 VANGUARD SCOTTSDALE FDS VNG RUS1000IDX 92206C730 2203 10068 SH SOLE 10068 0 0 VANGUARD SCOTTSDALE FDS VNG RUS2000IDX 92206C664 587 6534 SH SOLE 6534 0 0 VANGUARD SCOTTSDALE FDS INTER TERM TREAS 92206C706 41710 627498 SH SOLE 627498 0 0 VANGUARD SCOTTSDALE FDS SHORT TERM TREAS 92206C102 20073 329990 SH SOLE 329990 0 0 VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 35893 702960 SH SOLE 702960 0 0 VANGUARD WORLD FDS INF TECH ETF 92204A702 15320 33436 SH SOLE 33436 0 0 VANGUARD WORLD FDS UTILITIES ETF 92204A876 339 2165 SH SOLE 2165 0 0 VERIZON COMMUNICATIONS INC COM 92343V104 358 6883 SH SOLE 6883 0 0 VERTICAL CAP INCOME FUND SHS BEN INT 92535C104 18307 1794801 SH SOLE 1794801 0 0 VIRTUS DIVIDEND INTEREST & P COM 92840R101 36585 2246565 SH SOLE 2246565 0 0 VOYA GLBL EQTY DIV & PREM OP COM 92912T100 2102 336354 SH SOLE 336354 0 0 WALMART INC COM 931142103 312 2150 SH SOLE 2150 0 0 WELLS FARGO CO NEW PERP PFD CNV A 949746804 231 155 SH SOLE 155 0 0 WESTERN ASSET DIVERSIFIED IN COM SHS BEN 95790K109 3540 193357 SH SOLE 193357 0 0 WILLIAMS COS INC COM 969457100 555 21300 SH SOLE 21300 0 0 WISDOMTREE TR INDIA ERNGS FD 97717W422 468 12840 SH SOLE 12840 0 0 WISDOMTREE TR JP SMALLCP DIV 97717W836 363 5082 SH SOLE 5082 0 0 WISDOMTREE TR US LARGECAP FUND 97717W588 10879 216018 SH SOLE 216018 0 0 WISDOMTREE TR US MIDCAP FUND 97717W570 1408 25010 SH SOLE 25010 0 0 WISDOMTREE TR US QTLY DIV GRT 97717X669 48642 738560 SH SOLE 738560 0 0