Shaker Financial Services 13F-HR Quarterly holdings report by institutional manager

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 ASIA PACIFIC INCOM	COM	003009107	251	40,000	SH		SOLE		38,400	0	1,600
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	160	22,446	SH		SOLE		20,436	0	2,010
ADAMS EXPRESS CO	COM	006212104	2,095	152,353	SH		SOLE		148,603	0	3,750
ADVENT CLAY CONV SEC INC FD	COM	007639107	329	42,939	SH		SOLE		36,015	0	6,924
ADVENT CLAYMORE CV SECS & IN	COM	00764C109	1,112	59,002	SH		SOLE		56,617	0	2,385
ADVENT CLAYMORE ENH GRW & IN	COM	00765E104	249	24,179	SH		SOLE		15,659	0	8,520
ALLIANCEBERNSTEIN GBL HGH IN	COM	01879R106	989	68,837	SH		SOLE		64,247	0	4,590
ALLIANCEBERNSTEIN INCOME FUN	COM	01881E101	680	90,402	SH		SOLE		80,502	0	9,900
ALLIANZGI EQUITY & CONV INCO	COM	018829101	1,001	49,540	SH		SOLE		47,309	0	2,231
APOLLO SR FLOATING RATE FD I	COM	037636107	232	12,857	SH		SOLE		12,857	0	0
APOLLO TACTICAL INCOME FD IN	COM	037638103	855	46,600	SH		SOLE		45,480	0	1,120
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	2,256	123,912	SH		SOLE		117,962	0	5,950
ASIA PAC FD INC	COM	044901106	190	17,201	SH		SOLE		15,568	0	1,633
ASIA TIGERS FD INC	COM	04516T105	164	13,600	SH		SOLE		13,600	0	0
AVENUE INCOME CR STRATEGIES	COM	05358E106	2,109	117,315	SH		SOLE		105,755	0	11,560
BANCROFT FUND LTD	COM	059695106	268	13,261	SH		SOLE		12,521	0	740
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	2,142	174,287	SH		SOLE		163,187	0	11,100
BLACKROCK CR ALLCTN INC TR	COM	092508100	151	10,977	SH		SOLE		9,777	0	1,200
BLACKROCK DEBT STRAT FD INC	COM	09255R103	459	111,891	SH		SOLE		111,111	0	780
BLACKROCK DIVID INCOME TR	SHS	09250D109	673	50,126	SH		SOLE		48,926	0	1,200
BLACKROCK ECOSOLUTIONS INVT	COM SH	092546100	366	44,325	SH		SOLE		37,919	0	6,406
BLACKROCK FLOAT RATE OME STR	COM	09255X100	1,439	98,219	SH		SOLE		93,419	0	4,800
BLACKROCK GLOBAL OPP EQTY TR	COM	092501105	951	63,212	SH		SOLE		61,192	0	2,020
BLACKROCK INCOME TR INC	COM	09247F100	268	40,433	SH		SOLE		40,433	0	0
BLACKROCK LTD DURATION INC T	COM SHS	09249W101	2,343	135,511	SH		SOLE		128,844	0	6,667
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	456	24,674	SH		SOLE		23,984	0	690
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	215	10,600	SH		SOLE		10,600	0	0
BLACKSTONE GSO LNG SHRT CR I	COM SHS BN INT	09257D102	2,648	149,332	SH		SOLE		141,612	0	7,720
BLACKSTONE GSO STRATEGIC CR	COM SHS BEN IN	09257R101	1,407	79,153	SH		SOLE		76,253	0	2,900
CALAMOS STRATEGIC TOTL RETN	COM SH BEN INT	128125101	309	25,712	SH		SOLE		25,712	0	0
CENTRAL SECS CORP	COM	155123102	2,259	96,324	SH		SOLE		91,004	0	5,320
CLOUGH GLOBAL ALLOCATION FD	COM	18913Y103	1,032	66,586	SH		SOLE		66,586	0	0
CLOUGH GLOBAL EQUITY FD	COM	18914C100	277	17,902	SH		SOLE		16,902	0	1,000
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	4,265	328,048	SH		SOLE		306,299	0	21,749
COHEN & STEERS CLOSED END OP	COM	19248P106	1,509	111,642	SH		SOLE		97,442	0	14,200
COHEN & STEERS GLOBAL INC BL	COM	19248M103	732	57,665	SH		SOLE		51,065	0	6,600
COHEN & STEERS LTD DUR PFD I	COM	19248C105	965	37,890	SH		SOLE		35,275	0	2,615
COHEN & STEERS TOTAL RETURN	COM	19247R103	4,148	334,656	SH		SOLE		317,451	0	17,205
CREDIT SUISSE ASSET MGMT INC	COM	224916106	2,166	593,407	SH		SOLE		532,725	0	60,682
DELAWARE ENHANCED GBL DIV &	COM	246060107	3,000	236,034	SH		SOLE		211,577	0	24,457
DENALI FD INC	COM	24823A102	4,216	196,474	SH		SOLE		184,501	0	11,973
DOUBLELINE INCOME SOLUTIONS	COM	258622109	558	24,848	SH		SOLE		24,848	0	0
DOW 30SM ENHANCED PREM & INC	COM	260537105	422	30,710	SH		SOLE		30,710	0	0
DREYFUS MUN BD INFRSTRCTR FD	SHS	26203D101	142	12,000	SH		SOLE		12,000	0	0
DUFF & PHELPS UTIL CORP BD T	COM	26432K108	298	28,462	SH		SOLE		22,962	0	5,500
DWS HIGH INCOME OPPORT FD IN	COM NEW	23339M204	583	39,464	SH		SOLE		35,765	0	3,699
DWS HIGH INCOME TR	SHS NEW	23337C208	908	96,532	SH		SOLE		86,262	0	10,270
DWS MULTI MKT INCOME TR	SHS	23338L108	1,195	126,162	SH		SOLE		120,962	0	5,200
DWS STRATEGIC INCOME TR	SHS	23338N104	858	66,751	SH		SOLE		64,151	0	2,600
EATON VANCE ENH EQTY INC FD	COM	278277108	1,843	136,908	SH		SOLE		115,001	0	21,907
EATON VANCE FLTG RATE INCOM	COM SHS BEN INT	278284104	362	20,082	SH		SOLE		18,882	0	1,200
EATON VANCE FLTING RATE INC	COM	278279104	934	61,926	SH		SOLE		60,926	0	1,000
EATON VANCE LTD DUR INCOME F	COM	27828H105	1,145	73,474	SH		SOLE		62,904	0	10,570
EATON VANCE RISK MNGD DIV EQ	COM	27829G106	856	74,189	SH		SOLE		73,589	0	600
EATON VANCE SH TM DR DIVR IN	COM	27828V104	585	38,130	SH		SOLE		35,520	0	2,610
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	553	37,160	SH		SOLE		37,160	0	0
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	1,620	237,866	SH		SOLE		211,632	0	26,234
EATON VANCE TAX ADVT DIV INC	COM	27828G107	3,780	182,585	SH		SOLE		163,570	0	19,015
EATON VANCE TAX MNGD GBL DV	COM	27829F108	2,653	255,843	SH		SOLE		245,643	0	10,200
EATON VANCE TAX MNGED BUY WR	COM	27828X100	986	61,731	SH		SOLE		55,231	0	6,500
EATON VANCE TAX-ADV BD & OPT	COM SH BEN INT	27829M103	211	15,218	SH		SOLE		15,218	0	0
EATON VANCE TX ADV GLB DIV O	COM	27828U106	1,046	40,364	SH		SOLE		39,464	0	900
EATON VANCE TX ADV GLBL DIV	COM	27828S101	3,404	193,647	SH		SOLE		187,836	0	5,811
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	1,056	90,226	SH		SOLE		86,026	0	4,200
ELLSWORTH FUND LTD	COM	289074106	833	94,296	SH		SOLE		87,934	0	6,362
EUROPEAN EQUITY FUND	COM	298768102	2,581	286,457	SH		SOLE		265,245	0	21,212
FIRST TR ABERDEEN GLBL OPP F	COM SHS	337319107	205	13,997	SH		SOLE		13,997	0	0
FIRST TR DIVIDEND INCOME FD	COM	33731L100	1,384	147,599	SH		SOLE		128,617	0	18,982
FIRST TR HIGH INCOME L/S FD	COM	33738E109	2,143	118,049	SH		SOLE		109,441	0	8,608
FIRST TRUST SPECIALTY FINANC	COM BEN INTR	33733G109	187	22,997	SH		SOLE		22,997	0	0
FRANKLIN TEMPLETON LTD DUR I	COM	35472T101	249	19,044	SH		SOLE		16,322	0	2,722
FRANKLIN UNVL TR	SH BEN INT	355145103	1,573	208,895	SH		SOLE		171,155	0	37,740
GABELLI DIVD & INCOME TR	COM	36242H104	3,082	140,711	SH		SOLE		128,161	0	12,550
GABELLI GLB SML & MD CP VAL	COM	36249W104	149	13,902	SH		SOLE		12,647	0	1,255
GABELLI GLOBL UTIL & INCOME	COM SH BEN INT	36242L105	518	24,834	SH		SOLE		24,834	0	0
GABELLI MULTIMEDIA TR INC	COM	36239Q109	292	29,560	SH		SOLE		27,460	0	2,100
GABELLI MULTIMEDIA TR INC	RIGHT 07/18/2014	36239Q141	3	21,600	SH		SOLE		19,500	0	2,100
GENERAL AMERN INVS INC	COM	368802104	4,195	113,927	SH		SOLE		105,299	0	8,628
GUGGENHEIM EQ WEIGHT ENHANC	COM SH BEN INT	40167M106	1,359	67,856	SH		SOLE		62,213	0	5,643
HANCOCK JOHN FINL OPPTYS FD	SH BEN INT NEW	409735206	297	12,828	SH		SOLE		12,828	0	0
HANCOCK JOHN INCOME SECS TR	COM	410123103	249	17,021	SH		SOLE		17,021	0	0
HANCOCK JOHN PFD INCOME FD	SH BEN INT	41013W108	377	18,297	SH		SOLE		16,069	0	2,228
HANCOCK JOHN PFD INCOME FD I	COM	41013X106	232	11,220	SH		SOLE		11,220	0	0
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	1,153	64,383	SH		SOLE		60,683	0	3,700
HANCOCK JOHN PREMUIM DIV FD	COM SH BEN INT	41013T105	246	18,097	SH		SOLE		13,097	0	5,000
HANCOCK JOHN TAX-ADV DIV INC	COM	41013V100	947	45,242	SH		SOLE		39,927	0	5,315
HELIOS STRATEGIC INCOME FD I	COM NEW	42328A203	551	79,932	SH		SOLE		79,332	0	600
INVESCO DYNAMIC CR OPP FD	COM	46132R104	1,301	100,465	SH		SOLE		90,665	0	9,800
INVESCO HIGH INCOME TR II	COM	46131F101	1,244	72,607	SH		SOLE		65,805	0	6,802
IVY HIGH INC OPPORTUNITIES F	COM	465893105	1,093	59,075	SH		SOLE		52,775	0	6,300
JAPAN SMALLER CAPTLZTN FD IN	COM	47109U104	708	74,901	SH		SOLE		71,637	0	3,264
JOHN HANCOCK HDG EQ & INC FD	COM	47804L102	683	36,795	SH		SOLE		36,795	0	0
JPMORGAN CHINA REGION FD INC	COM	48126T104	554	36,508	SH		SOLE		35,508	0	1,000
KKR INCOME OPPORTUNITIES FD	COM	48249T106	2,175	116,624	SH		SOLE		106,535	0	10,089
LATIN AMERN DISCOVERY FD INC	COM	51828C106	217	15,793	SH		SOLE		14,934	0	859
LAZARD WORLD DIVID & INCOME	COM	521076109	711	46,791	SH		SOLE		46,791	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	4,816	801,249	SH		SOLE		747,831	0	53,418
LIBERTY ALL-STAR GROWTH FD I	COM	529900102	1,102	203,273	SH		SOLE		191,978	0	11,295
LMP CORPORATE LN FD INC	COM	50208B100	579	48,211	SH		SOLE		39,311	0	8,900
LMP REAL ESTATE INCOME FD IN	COM	50208C108	415	36,052	SH		SOLE		34,552	0	1,500
MADISON STRTG SECTOR PREM FD	COM	558268108	808	63,102	SH		SOLE		59,802	0	3,300
MANAGED HIGH YIELD PLUS FD I	COM	561911108	412	193,331	SH		SOLE		171,331	0	22,000
MEXICO EQUITY & INCOME FD	COM	592834105	660	41,006	SH		SOLE		38,484	0	2,522
MFS CHARTER INCOME TR	SH BEN INT	552727109	1,991	215,476	SH		SOLE		201,776	0	13,700
MFS INTER INCOME TR	SH BEN INT	55273C107	119	22,484	SH		SOLE		19,684	0	2,800
MFS INTERMEDIATE HIGH INC FD	SH BEN INT	59318T109	313	106,535	SH		SOLE		88,471	0	18,064
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	107	16,070	SH		SOLE		16,070	0	0
MORGAN STANLEY ASIA PAC FD I	COM	61744U106	324	19,364	SH		SOLE		19,035	0	329
MORGAN STANLEY EM MKTS DM DE	COM	617477104	637	47,787	SH		SOLE		47,787	0	0
MORGAN STANLEY EMER MKTS DEB	COM	61744H105	106	10,455	SH		SOLE		10,455	0	0
NEUBERGER BERMAN HGH YLD FD	COM	64128C106	216	15,600	SH		SOLE		15,600	0	0
NEUBERGER BERMAN RE ES SEC F	COM	64190A103	140	27,988	SH		SOLE		27,988	0	0
NEW GERMANY FD INC	COM	644465106	2,064	110,555	SH		SOLE		108,229	0	2,326
NEW IRELAND FUND INC	COM	645673104	769	56,435	SH		SOLE		49,624	0	6,811
NUVEEN CORE EQUITY ALPHA FUN	COM	67090X107	2,169	119,378	SH		SOLE		106,468	0	12,910
NUVEEN DIVERSIFIED DIV INCM	COM	6706EP105	311	25,332	SH		SOLE		25,332	0	0
NUVEEN EQUITY PREM & GROWTH	COM	6706EW100	1,030	71,157	SH		SOLE		68,457	0	2,700
NUVEEN EQUITY PREM ADV FD	COM	6706ET107	282	21,192	SH		SOLE		18,552	0	2,640
NUVEEN EQUITY PREM INCOME FD	COM	6706ER101	2,613	199,349	SH		SOLE		182,819	0	16,530
NUVEEN QUALITY PFD INC FD 3	COM	67072W101	970	111,755	SH		SOLE		108,355	0	3,400
NUVEEN QUALITY PFD INCOME FD	COM	67071S101	961	112,900	SH		SOLE		98,925	0	13,975
NUVEEN QUALITY PFD INCOME FD	COM	67072C105	240	26,523	SH		SOLE		26,523	0	0
NUVEEN SHT DUR CR OPP FD	COM	67074X107	278	15,115	SH		SOLE		14,288	0	827
NUVEEN SR INCOME FD	COM	67067Y104	1,894	268,665	SH		SOLE		246,465	0	22,200
NUVEEN TAX ADVANTAGED DIV GR	COM	67073G105	661	40,569	SH		SOLE		39,669	0	900
PIMCO INCOME STRATEGY FUND	COM	72201H108	788	63,842	SH		SOLE		63,625	0	217
PIMCO INCOME STRATEGY FUND I	COM	72201J104	1,733	156,678	SH		SOLE		137,785	0	18,893
PRUDENTIAL SHT DURATION HG Y	COM	74442F107	436	24,254	SH		SOLE		21,154	0	3,100
PUTMAN HIGH INCOME SEC FUND	SHS BEN INT	746779107	420	48,217	SH		SOLE		48,217	0	0
ROYCE FOCUS TR	COM	78080N108	1,535	179,485	SH		SOLE		173,403	0	6,082
ROYCE GLOBAL VALUE TR INC	COM	78081T104	652	69,325	SH		SOLE		63,740	0	5,585
ROYCE VALUE TR INC	COM	780910105	606	37,898	SH		SOLE		36,228	0	1,670
SOURCE CAP INC	COM	836144105	2,967	42,403	SH		SOLE		39,077	0	3,326
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	2,073	124,129	SH		SOLE		113,029	0	11,100
STRATEGIC GLOBAL INCOME FD	COM	862719101	427	45,636	SH		SOLE		36,219	0	9,417
SWISS HELVETIA FD INC	COM	870875101	745	51,124	SH		SOLE		45,280	0	5,844
TEMPLETON DRAGON FD INC	COM	88018T101	235	9,106	SH		SOLE		7,207	0	1,899
TEMPLETON EMERG MKTS INCOME	COM	880192109	326	23,626	SH		SOLE		17,616	0	6,010
TRI CONTL CORP	COM	895436103	4,439	211,582	SH		SOLE		191,032	0	20,550
VIRTUS TOTAL RETURN FD	COM	92829A103	103	21,389	SH		SOLE		21,389	0	0
VOYA ASIA PAC DIVID EQUITY I	COM	92912J102	396	29,648	SH		SOLE		27,389	0	2,259
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	302	23,648	SH		SOLE		21,048	0	2,600
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	2,560	207,643	SH		SOLE		196,939	0	10,704
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	708	72,984	SH		SOLE		69,484	0	3,500
VOYA PRIME RATE TR	SH BEN INT	92913A100	101	17,430	SH		SOLE		17,430	0	0
WELLS FARGO ADV GLB DIV OPP	COM	94987C103	89	10,500	SH		SOLE		10,500	0	0
WELLS FARGO ADVANTAGE INCOME	COM SHS	94987B105	1,490	155,857	SH		SOLE		147,257	0	8,600
WELLS FARGO ADVANTAGE MULTI	COM SHS	94987D101	472	31,693	SH		SOLE		28,193	0	3,500
WELLS FARGO ADVANTAGE UTILS	COM	94987E109	815	62,755	SH		SOLE		53,855	0	8,900
WESTERN ASSET GLB PTNRS INCO	COM	95766G108	1,457	130,357	SH		SOLE		124,027	0	6,330
WESTERN ASSET HGH YLD DFNDFD	COM	95768B107	1,296	72,384	SH		SOLE		64,778	0	7,606
WESTERN ASSET MGD HI INCM FD	COM	95766L107	878	151,389	SH		SOLE		142,512	0	8,877
ZWEIG FD	COM NEW	989834205	615	39,308	SH		SOLE		39,308	0	0