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
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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	833	182,193	SH		SOLE		136,983	0	45,210
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	3,721	289,990	SH		SOLE		267,504	0	22,486
ADVENT CLAY CONV SEC INC FD	COM	007639107	821	147,929	SH		SOLE		114,540	0	33,389
ADVENT CLAYMORE CV SECS & IN	COM	00764C109	577	42,687	SH		SOLE		42,169	0	518
ALLIANZGI EQUITY & CONV INCO	COM	018829101	289	16,096	SH		SOLE		14,914	0	1,182
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	2,186	176,459	SH		SOLE		161,790	0	14,669
APOLLO SR FLOATING RATE FD I	COM	037636107	1,954	128,951	SH		SOLE		115,523	0	13,428
APOLLO TACTICAL INCOME FD IN	COM	037638103	1,311	94,408	SH		SOLE		91,182	0	3,226
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	1,662	124,406	SH		SOLE		116,359	0	8,047
AVENUE INCOME CR STRATEGIES	COM	05358E106	2,589	228,117	SH		SOLE		212,203	0	15,914
BABSON CAP GLB SHT DURHGH YL	COM	05617T100	4,158	252,169	SH		SOLE		236,082	0	16,087
BANCROFT FUND LTD	COM	059695106	256	14,057	SH		SOLE		14,057	0	0
BLACKROCK ENHANCED EQT DIV T	COM	09251A104	940	123,520	SH		SOLE		118,808	0	4,712
BLACKROCK INTL GRWTH & INC T	COM BENE INTER	092524107	1,277	204,674	SH		SOLE		200,604	0	4,070
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	445	28,121	SH		SOLE		27,793	0	328
BLACKSTONE GSO LNG SHRT CR I	COM SHS BN INT	09257D102	2,314	171,645	SH		SOLE		156,941	0	14,704
BOULDER GROWTH & INCOME FD I	COM	101507101	3,068	396,428	SH		SOLE		365,694	0	30,734
BROOKFIELD HIGH INCOME FD IN	COM	11272P102	1,947	283,013	SH		SOLE		268,132	0	14,881
BROOKFIELD MTG OPP INC FD IN	COM	112792106	1,013	68,689	SH		SOLE		65,528	0	3,161
CALAMOS CONV & HIGH INCOME F	COM SHS	12811P108	495	47,113	SH		SOLE		32,868	0	14,245
CALAMOS GBL DYN INCOME FUND	COM	12811L107	2,818	393,639	SH		SOLE		371,425	0	22,214
CALAMOS GLOBAL TOTAL RETURN	COM SH BEN INT	128118106	1,297	113,564	SH		SOLE		112,641	0	923
CALAMOS STRATEGIC TOTL RETN	COM SH BEN INT	128125101	1,186	119,774	SH		SOLE		114,804	0	4,970
CBRE CLARION GLOBAL REAL EST	COM	12504G100	497	65,086	SH		SOLE		56,580	0	8,506
CENTRAL SECS CORP	COM	155123102	1,514	79,594	SH		SOLE		77,809	0	1,785
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	470	45,000	SH		SOLE		35,381	0	9,619
COHEN & STEERS CLOSED END OP	COM	19248P106	210	19,200	SH		SOLE		19,200	0	0
DELAWARE ENHANCED GBL DIV &	COM	246060107	588	62,923	SH		SOLE		53,931	0	8,992
DELAWARE INVTS DIV & INCOME	COM	245915103	1,400	158,674	SH		SOLE		151,212	0	7,462
EATON VANCE SH TM DR DIVR IN	COM	27828V104	1,435	107,031	SH		SOLE		104,668	0	2,363
EATON VANCE TAX MNGD GBL DV	COM	27829F108	4,067	459,506	SH		SOLE		430,775	0	28,731
EATON VANCE TAX-ADV BD & OPT	COM SH BEN INT	27829M103	161	12,772	SH		SOLE		12,772	0	0
EATON VANCE TX ADV GLBL DIV	COM	27828S101	2,652	170,886	SH		SOLE		164,583	0	6,303
ELLSWORTH GROWTH & INCOME FD	COM	289074106	102	13,127	SH		SOLE		9,469	0	3,658
EUROPEAN EQUITY FUND	COM	298768102	1,643	203,834	SH		SOLE		186,105	0	17,729
FIRST TR ENHANCED EQTY INC F	COM	337318109	3,231	244,736	SH		SOLE		233,379	0	11,357
FIRST TR STRATEGIC HIGH INC	COM SHS NEW	337353304	527	47,359	SH		SOLE		33,765	0	13,594
GABELLI DIVD & INCOME TR	COM	36242H104	2,708	146,676	SH		SOLE		131,690	0	14,986
GABELLI EQUITY TR INC	COM	362397101	2,440	459,516	SH		SOLE		431,136	0	28,380
GABELLI MULTIMEDIA TR INC	COM	36239Q109	2,376	316,824	SH		SOLE		306,154	0	10,670
GUGGENHEIM CR ALLOCATION FD	COM	40168G108	1,485	76,172	SH		SOLE		71,782	0	4,390
GUGGENHEIM ENHANCED EQUITY S	COM	40167K100	1,200	76,103	SH		SOLE		73,201	0	2,902
GUGGENHEIM ENHNCD EQTY INCM	COM	40167B100	1,835	238,992	SH		SOLE		216,341	0	22,651
GUGGENHEIM EQ WEIGHT ENHANC	COM SH BEN INT	40167M106	2,043	125,007	SH		SOLE		119,856	0	5,151
HANCOCK JOHN INVS TR	COM	410142103	480	33,359	SH		SOLE		32,443	0	916
HANCOCK JOHN PFD INCOME FD I	COM	41013X106	302	15,408	SH		SOLE		13,147	0	2,261
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	206	11,550	SH		SOLE		11,222	0	328
INVESCO SR INCOME TR	COM	46131H107	638	157,975	SH		SOLE		134,657	0	23,318
IVY HIGH INC OPPORTUNITIES F	COM	465893105	1,141	92,132	SH		SOLE		78,962	0	13,170
JPMORGAN CHINA REGION FD INC	COM	48126T104	210	13,694	SH		SOLE		13,694	0	0
KKR INCOME OPPORTUNITIES FD	COM	48249T106	3,027	218,238	SH		SOLE		201,962	0	16,276
LAZARD GLB TTL RET&INCM FD I	COM	52106W103	231	17,697	SH		SOLE		16,222	0	1,475
LAZARD WORLD DIVID & INCOME	COM	521076109	2,312	253,838	SH		SOLE		229,536	0	24,302
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	910	170,053	SH		SOLE		165,123	0	4,930
LIBERTY ALL-STAR GROWTH FD I	COM	529900102	575	125,451	SH		SOLE		115,302	0	10,149
LMP CAP & INCOME FD INC	COM	50208A102	208	16,810	SH		SOLE		15,801	0	1,009
LMP CORPORATE LN FD INC	COM	50208B100	646	65,384	SH		SOLE		58,730	0	6,654
MADISON CVRED CALL & EQ STR	COM	557437100	100	13,500	SH		SOLE		13,500	0	0
MADISON STRTG SECTOR PREM FD	COM	558268108	347	32,200	SH		SOLE		32,200	0	0
MANAGED HIGH YIELD PLUS FD I	COM	561911108	289	163,999	SH		SOLE		163,999	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	1,396	183,200	SH		SOLE		170,033	0	13,167
MFS INTERMEDIATE HIGH INC FD	SH BEN INT	59318T109	1,127	485,861	SH		SOLE		448,936	0	36,925
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	422	76,643	SH		SOLE		64,092	0	12,551
MFS SPL VALUE TR	SH BEN INT	55274E102	2,516	473,740	SH		SOLE		446,973	0	26,767
NUVEEN CORE EQUITY ALPHA FUN	COM	67090X107	460	32,209	SH		SOLE		28,200	0	4,009
NUVEEN DIVERSIFIED DIV INCM	COM	6706EP105	1,068	98,631	SH		SOLE		97,490	0	1,141
NUVEEN FLEXIBLE INVT INCOME	COM	67075B104	2,431	165,734	SH		SOLE		150,149	0	15,585
NUVEEN FLTNG RTE INCM OPP FD	COM SHS	6706EN100	567	57,890	SH		SOLE		51,115	0	6,775
NUVEEN QUALITY PFD INC FD 3	COM	67072W101	359	42,300	SH		SOLE		38,870	0	3,430
NUVEEN REAL ASSET INC & GROW	COM	67074Y105	813	53,371	SH		SOLE		51,845	0	1,526
NUVEEN SR INCOME FD	COM	67067Y104	192	33,224	SH		SOLE		28,419	0	4,805
NUVEEN TAX ADVANTAGED DIV GR	COM	67073G105	4,127	296,680	SH		SOLE		276,494	0	20,186
NUVEEN TX ADV TOTAL RET STRG	COM	67090H102	4,836	414,431	SH		SOLE		393,116	0	21,315
PIMCO INCOME OPPORTUNITY FD	COM	72202B100	627	29,638	SH		SOLE		28,886	0	752
PIMCO INCOME STRATEGY FUND	COM	72201H108	5,046	518,034	SH		SOLE		477,925	0	40,109
PIMCO INCOME STRATEGY FUND I	COM	72201J104	2,709	308,921	SH		SOLE		273,709	0	35,212
PIONEER DIV HIGH INCOME TRUS	COM	723653101	4,427	303,405	SH		SOLE		276,719	0	26,686
PIONEER FLOATING RATE TR	COM	72369J102	397	36,611	SH		SOLE		35,091	0	1,520
PRINCIPAL REAL ESTATE INCOME	SHS BEN INT	74255X104	734	43,991	SH		SOLE		43,991	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	143	19,250	SH		SOLE		19,250	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	833	114,728	SH		SOLE		102,326	0	12,402
SOURCE CAP INC	COM	836144105	710	10,719	SH		SOLE		10,311	0	408
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	1,158	87,700	SH		SOLE		85,520	0	2,180
SPROTT FOCUS TR INC	COM	85208J109	3,298	568,677	SH		SOLE		523,848	0	44,829
THL CR SR LN FD	COM	87244R103	493	31,068	SH		SOLE		30,613	0	455
TRI CONTL CORP	COM	895436103	3,837	191,643	SH		SOLE		173,996	0	17,647
VIRTUS GLOBAL MULTI-SEC INC	COM	92829B101	4,446	314,654	SH		SOLE		295,803	0	18,851
VIRTUS TOTAL RETURN FD	COM	92829A103	880	231,099	SH		SOLE		213,486	0	17,613
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	636	60,846	SH		SOLE		59,035	0	1,811
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	1,963	280,397	SH		SOLE		262,318	0	18,079
VOYA INTL HIGH DIVID EQTY IN	COM	92912Y109	330	51,894	SH		SOLE		48,563	0	3,331
VOYA PRIME RATE TR	SH BEN INT	92913A100	361	71,287	SH		SOLE		65,421	0	5,866
WELLS FARGO GLOBAL DIVIDEND	COM	94987C103	398	67,173	SH		SOLE		51,615	0	15,558
WELLS FARGO MULTI SECTOR INC	COM SHS	94987D101	458	40,417	SH		SOLE		38,390	0	2,027
WESTERN ASSET GLB HI INCOME	COM	95766B109	3,390	388,711	SH		SOLE		352,475	0	36,236
WESTERN ASSET GLB PTNRS INCO	COM	95766G108	3,536	457,433	SH		SOLE		436,630	0	20,803
ZWEIG FD	COM NEW	989834205	1,625	123,679	SH		SOLE		119,526	0	4,153