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

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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 GTR CHINA FD INC	COM	003031101	225	19,212	SH		SOLE		19,212	0	0
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	507	33,351	SH		SOLE		30,335	0	3,016
ADVENT CLAY CONV SEC INC FD	COM	007639107	1,255	201,174	SH		SOLE		199,776	0	1,398
ADVENT CLAYMORE CV SECS & IN	COM	00764C109	1,039	64,182	SH		SOLE		62,500	0	1,682
ADVENT CLAYMORE ENH GRW & IN	COM	00765e104	1,552	180,259	SH		SOLE		171,416	0	8,843
ALLIANCEBERNSTEIN GBL HGH IN	COM	01879R106	1,307	100,162	SH		SOLE		85,982	0	14,180
ALLIANZGI DIVERS INC & CNV F	COM	01883J108	874	40,692	SH		SOLE		35,005	0	5,687
APOLLO SR FLOATING RATE FD I	COM	037636107	1,580	94,346	SH		SOLE		86,857	0	7,489
APOLLO TACTICAL INCOME FD IN	COM	037638103	2,817	173,808	SH		SOLE		164,222	0	9,586
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	233	14,200	SH		SOLE		14,200	0	0
BANCROFT FUND LTD	COM	059695106	602	27,481	SH		SOLE		24,382	0	3,099
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	146	12,928	SH		SOLE		11,231	0	1,697
BLACKROCK DEBT STRAT FD INC	COM NEW	09255R202	1,098	94,129	SH		SOLE		89,597	0	4,532
BLACKROCK ENH CAP & INC FD I	COM	09256A109	256	16,390	SH		SOLE		15,520	0	870
BLACKROCK ENHANCED EQT DIV T	COM	09251A104	2,540	280,032	SH		SOLE		277,587	0	2,445
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	410	62,559	SH		SOLE		62,559	0	0
BLACKSTONE GSO LNG SHRT CR I	COM SHS BN INT	09257D102	2,411	149,967	SH		SOLE		142,478	0	7,489
BLACKSTONE GSO STRATEGIC CR	COM SHS BEN IN	09257R101	484	30,264	SH		SOLE		30,264	0	0
BOULDER GROWTH & INCOME FD I	COM	101507101	4,331	424,642	SH		SOLE		397,918	0	26,724
BROOKFIELD GLOBL LISTED INFR	COM SHS	11273Q109	387	28,612	SH		SOLE		22,580	0	6,032
BROOKFIELD REAL ASSETS INCOM	SHS BEN INT	112830104	285	12,000	SH		SOLE		10,450	0	1,550
CALAMOS STRATEGIC TOTL RETN	COM SH BEN INT	128125101	136	11,199	SH		SOLE		11,199	0	0
CENTRAL SECS CORP	COM	155123102	9,687	374,738	SH		SOLE		354,477	0	20,261
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	1,361	121,936	SH		SOLE		114,063	0	7,873
COHEN & STEERS GLOBAL INC BL	COM	19248M103	2,282	234,987	SH		SOLE		228,647	0	6,340
CREDIT SUISSE ASSET MGMT INC	COM	224916106	1,797	529,962	SH		SOLE		474,582	0	55,380
DELAWARE ENHANCED GBL DIV &	COM	246060107	915	77,172	SH		SOLE		70,423	0	6,749
DELAWARE INVTS DIV & INCOME	COM	245915103	5,978	555,617	SH		SOLE		529,021	0	26,596
DEUTSCHE MULTI-MKT INCOME TR	SHS	25160E102	2,054	229,285	SH		SOLE		194,465	0	34,820
DEUTSCHE STRATEGIC INCOME TR	SHS	25160F109	806	64,685	SH		SOLE		64,685	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	683	32,118	SH		SOLE		29,520	0	2,598
DREYFUS HIGH YIELD STRATEGIE	SH BEN INT	26200S101	102	29,000	SH		SOLE		29,000	0	0
DUFF & PHELPS UTIL CORP BD T	COM	26432K108	1,872	202,619	SH		SOLE		193,720	0	8,899
EAGLE GRWTH & INCOME OPPTY F	COM SHS BEN IN	26958j105	2,184	129,178	SH		SOLE		122,727	0	6,451
EATON VANCE FLTG RATE INCOM	COM SHS BEN INT	278284104	3,937	236,998	SH		SOLE		223,854	0	13,144
EATON VANCE LTD DUR INCOME F	COM	27828H105	1,290	91,981	SH		SOLE		91,025	0	956
EATON VANCE RISK MNGD DIV EQ	COM	27829G106	2,925	310,151	SH		SOLE		290,196	0	19,955
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	1,630	246,160	SH		SOLE		216,469	0	29,691
EATON VANCE TX ADV GLBL DIV	COM	27828S101	1,886	109,661	SH		SOLE		106,902	0	2,759
EUROPEAN EQUITY FUND	COM	298768102	2,579	266,442	SH		SOLE		250,954	0	15,488
FIRST TR ABERDEEN GLBL OPP F	COM SHS	337319107	2,286	193,915	SH		SOLE		174,680	0	19,235
FIRST TR ENHANCED EQTY INC F	COM	337318109	650	43,210	SH		SOLE		41,609	0	1,601
FIRST TR HIGH INCOME L/S FD	COM	33738E109	2,038	119,740	SH		SOLE		108,389	0	11,351
FRANKLIN UNVL TR	SH BEN INT	355145103	542	74,516	SH		SOLE		74,516	0	0
GABELLI DIVD & INCOME TR	COM	36242H104	8,961	400,222	SH		SOLE		377,483	0	22,739
GABELLI GLB SML & MD CP VAL	COM	36249W104	1,066	80,650	SH		SOLE		75,555	0	5,095
GABELLI GLOBL UTIL & INCOME	COM SH BEN INT	36242L105	287	13,968	SH		SOLE		13,968	0	0
GENERAL AMERN INVS INC	COM	368802104	8,931	247,950	SH		SOLE		232,620	0	15,330
GUGGENHEIM ENHNCD EQTY INCM	COM	40167B100	336	39,263	SH		SOLE		37,614	0	1,649
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	573	30,472	SH		SOLE		27,518	0	2,954
HERZFELD CARIBBEAN BASIN FD	COM	42804T106	763	105,296	SH		SOLE		102,575	0	2,721
INVESCO DYNAMIC CR OPP FD	COM	46132R104	3,741	313,842	SH		SOLE		285,956	0	27,886
INVESCO HIGH INCOME TR II	COM	46131F101	162	10,715	SH		SOLE		10,715	0	0
INVESCO SR INCOME TR	COM	46131H107	838	186,644	SH		SOLE		180,360	0	6,284
LAZARD GLB TTL RET&INCM FD I	COM	52106W103	3,401	202,894	SH		SOLE		189,724	0	13,170
LAZARD WORLD DIVID & INCOME	COM	521076109	1,194	105,484	SH		SOLE		100,290	0	5,194
LEGG MASON BW GLB INC OPP FD	COM	52469B100	584	43,484	SH		SOLE		39,905	0	3,579
MADISON CVRED CALL & EQ STR	COM	557437100	3,538	450,717	SH		SOLE		433,282	0	17,435
MFS CHARTER INCOME TR	SH BEN INT	552727109	2,576	297,142	SH		SOLE		288,437	0	8,705
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	120	19,160	SH		SOLE		19,160	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	1,015	42,544	SH		SOLE		40,312	0	2,232
NEW GERMANY FD INC	COM	644465106	3,560	191,709	SH		SOLE		185,561	0	6,148
NEW IRELAND FUND INC	COM	645673104	1,223	89,138	SH		SOLE		84,742	0	4,396
NUVEEN CORE EQUITY ALPHA FUN	COM	67090X107	1,813	116,641	SH		SOLE		106,902	0	9,739
NUVEEN CR STRATEGIES INCM FD	COM SHS	67073D102	970	114,212	SH		SOLE		108,914	0	5,298
NUVEEN DOW 30 DYN OVERWRITE	SHS	67075F105	5,959	351,357	SH		SOLE		329,201	0	22,156
NUVEEN PFD & INCOME TERM FD	COM	67075A106	474	18,839	SH		SOLE		18,289	0	550
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	2,558	182,963	SH		SOLE		170,626	0	12,337
NUVEEN S&P 500 DYN OVERWRITE	COM	6706EW100	874	55,880	SH		SOLE		53,213	0	2,667
NUVEEN TAX ADVANTAGED DIV GR	COM	67073G105	2,520	149,621	SH		SOLE		143,939	0	5,682
NUVEEN TX ADV TOTAL RET STRG	COM	67090H102	4,184	304,972	SH		SOLE		286,613	0	18,359
PIMCO DYNMIC CREDIT AND MRT	COM SHS	72202D106	1,414	61,328	SH		SOLE		57,832	0	3,496
PIONEER DIV HIGH INCOME TRUS	COM	723653101	1,145	69,075	SH		SOLE		67,688	0	1,387
PIONEER FLOATING RATE TR	COM	72369J102	740	61,895	SH		SOLE		61,295	0	600
PIONEER HIGH INCOME TR	COM	72369H106	2,842	283,621	SH		SOLE		277,899	0	5,722
PRUDENTIAL GLB SHT DUR HG YL	COM	74433A109	1,385	92,788	SH		SOLE		86,699	0	6,089
PRUDENTIAL SHT DURATION HG Y	COM	74442F107	4,719	309,232	SH		SOLE		282,225	0	27,007
PUTMAN HIGH INCOME SEC FUND	SHS BEN INT	746779107	365	40,894	SH		SOLE		40,894	0	0
RMR REAL ESTATE INCOME FUND	COM	76970B101	546	28,273	SH		SOLE		27,134	0	1,139
ROYCE GLOBAL VALUE TR INC	COM	78081T104	1,197	115,611	SH		SOLE		110,517	0	5,094
ROYCE MICRO-CAP TR INC	COM	780915104	5,099	543,598	SH		SOLE		519,044	0	24,554
SOURCE CAP INC	COM	836144105	5,999	149,152	SH		SOLE		142,139	0	7,013
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	6,137	386,999	SH		SOLE		360,937	0	26,062
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	934	36,515	SH		SOLE		35,683	0	832
SPROTT FOCUS TR INC	COM	85208J109	2,397	310,029	SH		SOLE		270,424	0	39,605
SWISS HELVETIA FD INC	COM	870875101	335	26,211	SH		SOLE		25,777	0	434
TEMPLETON DRAGON FD INC	COM	88018T101	225	10,841	SH		SOLE		10,841	0	0
TEMPLETON GLOBAL INCOME FD	COM	880198106	901	133,717	SH		SOLE		127,638	0	6,079
THL CR SR LN FD	COM	87244R103	880	50,250	SH		SOLE		47,978	0	2,272
TRI CONTL CORP	COM	895436103	1,134	44,369	SH		SOLE		43,993	0	376
VOYA PRIME RATE TR	SH BEN INT	92913A100	819	156,581	SH		SOLE		113,673	0	42,908
WELLS FARGO INCOME OPPORTUNI	WF INC OPPTY FD	94987B105	1,593	182,026	SH		SOLE		178,551	0	3,475
WELLS FARGO MULTI SECTOR INC	COM	94987D101	1,788	133,250	SH		SOLE		131,574	0	1,676
WESTERN ASSET EMRG MKT DEBT	COM	95766A101	865	54,940	SH		SOLE		50,987	0	3,953
WESTERN ASSET GLB HI INCOME	COM	95766B109	3,295	320,178	SH		SOLE		308,487	0	11,691
WESTERN ASSET HGH YLD DFNDFD	COM	95768B107	1,732	111,369	SH		SOLE		101,866	0	9,503
WESTERN ASSET HIGH INCM FD I	COM	95766J102	3,869	536,678	SH		SOLE		487,844	0	48,834
WESTERN ASSET HIGH INCM OPP	COM	95766K109	246	47,915	SH		SOLE		42,262	0	5,653