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	444	104,972	SH		SOLE		102,881	0	2,091
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	2,481	262,008	SH		SOLE		248,354	0	13,654
ABERDEEN GLOBAL INCOME FD IN	COM	003013109	784	96,471	SH		SOLE		86,740	0	9,731
ABERDEEN INCOME CR STRATEGIE	COM	003057106	1,434	118,288	SH		SOLE		97,352	0	20,936
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	602	72,957	SH		SOLE		72,957	0	0
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	2,575	178,326	SH		SOLE		159,359	0	18,967
ALLIANZGI CON INCM 2024 TARG	COM	01883H102	2,731	303,399	SH		SOLE		256,720	0	46,679
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	1,780	147,612	SH		SOLE		143,585	0	4,027
APOLLO SR FLOATING RATE FD I	COM	037636107	696	46,922	SH		SOLE		42,379	0	4,543
APOLLO TACTICAL INCOME FD IN	COM	037638103	4,112	279,887	SH		SOLE		250,808	0	29,079
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	3,580	241,270	SH		SOLE		218,933	0	22,337
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	800	78,000	SH		SOLE		65,184	0	12,816
BLACKROCK DEBT STRAT FD INC	COM NEW	09255R202	1,851	172,685	SH		SOLE		167,078	0	5,607
BLACKROCK ENH CAP & INC FD I	COM	09256A109	3,166	200,770	SH		SOLE		180,602	0	20,168
BLACKROCK ENHANCED EQT DIV T	COM	09251A104	5,310	621,058	SH		SOLE		561,255	0	59,803
BLACKROCK ENHANCED GBL DIV T	COM	092501105	1,437	134,329	SH		SOLE		128,776	0	5,553
BLACKROCK FLOAT RATE OME STR	COM	09255X100	2,172	173,736	SH		SOLE		151,208	0	22,528
BLACKROCK FLOATING RATE INCO	COM	091941104	1,539	126,028	SH		SOLE		119,870	0	6,158
BLACKROCK LTD DURATION INC T	COM SHS	09249W101	1,147	78,057	SH		SOLE		75,507	0	2,550
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	3,434	207,005	SH		SOLE		191,442	0	15,563
BLACKSTONE GSO FLTING RTE FU	COM	09256U105	959	58,416	SH		SOLE		40,996	0	17,420
BLACKSTONE GSO STRATEGIC CR	COM SHS BEN IN	09257R101	1,800	126,347	SH		SOLE		117,902	0	8,445
BOULDER GROWTH & INCOME FD I	COM	101507101	2,362	219,150	SH		SOLE		212,897	0	6,253
BROOKFIELD REAL ASSETS INCOM	SHS BEN INT	112830104	4,210	194,711	SH		SOLE		173,271	0	21,440
CALAMOS CONV & HIGH INCOME F	COM SHS	12811P108	1,612	148,571	SH		SOLE		141,687	0	6,884
CALAMOS CONV OPP AND INC FD	SH BEN INT	128117108	1,791	176,526	SH		SOLE		167,325	0	9,201
CALAMOS STRATEGIC TOTL RETN	COM SH BEN INT	128125101	1,662	134,103	SH		SOLE		127,471	0	6,632
CENTRAL SECS CORP	COM	155123102	7,515	262,309	SH		SOLE		249,582	0	12,727
CHINA FD INC	COM	169373107	873	42,857	SH		SOLE		36,965	0	5,892
CLOUGH GLOBAL DIVND AND INC	COM	18913Y103	2,627	236,637	SH		SOLE		227,888	0	8,749
COHEN & STEERS CLOSED END OP	COM	19248P106	2,043	165,313	SH		SOLE		148,908	0	16,405
COHEN & STEERS GLOBAL INC BL	COM	19248M103	175	20,498	SH		SOLE		17,509	0	2,989
COLUMBIA SELIGM PREM TECH GR	COM	19842X109	314	15,614	SH		SOLE		15,173	0	441
CREDIT SUISSE ASSET MGMT INC	COM	224916106	170	54,793	SH		SOLE		47,363	0	7,430
DELAWARE ENHANCED GBL DIV &	COM	246060107	551	57,000	SH		SOLE		44,038	0	12,962
DOUBLELINE INCOME SOLUTIONS	COM	258622109	245	12,281	SH		SOLE		11,795	0	486
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	2,712	134,233	SH		SOLE		113,446	0	20,787
DREYFUS ALCENTRA GBL CR INCO	COM	26189A105	2,408	273,230	SH		SOLE		227,007	0	46,223
DREYFUS HIGH YIELD STRATEGIE	SH BEN INT	26200S101	481	156,622	SH		SOLE		139,846	0	16,776
EATON VANCE ENHANCED EQ INC	COM	278274105	920	64,058	SH		SOLE		63,119	0	939
EATON VANCE FLTG RATE INCOM	COM SHS BEN INT	278284104	305	20,622	SH		SOLE		18,376	0	2,246
EATON VANCE FLTING RATE INC	COM	278279104	268	20,310	SH		SOLE		20,310	0	0
EATON VANCE HIGH INCOME 2021	COM SH BEN INT	27829W101	391	40,234	SH		SOLE		40,234	0	0
EATON VANCE LTD DUR INCOME F	COM	27828H105	1,422	112,419	SH		SOLE		95,196	0	17,223
EATON VANCE SH TM DR DIVR IN	COM	27828V104	1,028	79,282	SH		SOLE		75,786	0	3,496
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	666	51,167	SH		SOLE		48,877	0	2,290
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	248	40,280	SH		SOLE		35,821	0	4,459
EATON VANCE TAX ADVT DIV INC	COM	27828G107	5,870	263,351	SH		SOLE		245,144	0	18,207
EATON VANCE TAX MNGD GBL DV	COM	27829F108	1,705	209,485	SH		SOLE		209,485	0	0
EATON VANCE TX ADV GLBL DIV	COM	27828S101	6,537	420,635	SH		SOLE		373,307	0	47,328
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	580	51,290	SH		SOLE		44,237	0	7,053
EATON VANCE TXMGD GL BUYWR O	COM	27829C105	3,225	330,058	SH		SOLE		302,311	0	27,747
ELLSWORTH GRWTH AND INCOME L	COM	289074106	551	57,375	SH		SOLE		49,226	0	8,149
EUROPEAN EQUITY FUND	COM	298768102	2,792	320,697	SH		SOLE		303,828	0	16,869
FIRST TR ABERDEEN GLBL OPP F	COM SHS	337319107	254	25,322	SH		SOLE		25,322	0	0
FIRST TR ENHANCED EQTY INC F	COM	337318109	2,425	161,342	SH		SOLE		153,078	0	8,264
FIRST TR HIGH INCOME L/S FD	COM	33738E109	526	36,021	SH		SOLE		34,375	0	1,646
FIRST TR SR FLG RTE INCM FD	COM	33733U108	1,989	168,305	SH		SOLE		141,126	0	27,179
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	673	76,991	SH		SOLE		75,993	0	998
FRANKLIN LTD DURATION INC TR	COM	35472T101	1,164	120,865	SH		SOLE		113,666	0	7,199
FRANKLIN UNVL TR	SH BEN INT	355145103	321	45,577	SH		SOLE		42,818	0	2,759
GABELLI CONV&INCOM SECS FD I	COM	36240B109	670	128,757	SH		SOLE		128,757	0	0
GABELLI DIVD & INCOME TR	COM	36242H104	7,319	343,923	SH		SOLE		320,852	0	23,071
GENERAL AMERN INVS INC	COM	368802104	2,711	81,392	SH		SOLE		78,327	0	3,065
GUGGENHEIM ENHNCD EQTY INCM	COM	40167B100	1,598	203,271	SH		SOLE		187,503	0	15,768
HANCOCK JOHN INV TRUST	TAX ADV GLB SH	41013P749	864	126,141	SH		SOLE		112,566	0	13,575
HANCOCK JOHN INVS TR	COM	410142103	3,128	198,354	SH		SOLE		184,304	0	14,050
HERZFELD CARIBBEAN BASIN FD	COM	42804T106	878	150,081	SH		SOLE		144,770	0	5,311
IVY HIGH INC OPPORTUNITIES F	COM	465893105	1,764	130,473	SH		SOLE		124,835	0	5,638
KKR INCOME OPPORTUNITIES FD	COM	48249T106	2,117	136,760	SH		SOLE		122,944	0	13,816
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	5,089	832,875	SH		SOLE		766,732	0	66,143
MFS CHARTER INCOME TR	SH BEN INT	552727109	1,464	185,348	SH		SOLE		170,500	0	14,848
MFS INTER INCOME TR	SH BEN INT	55273C107	731	192,497	SH		SOLE		182,550	0	9,947
MFS INTERMEDIATE HIGH INC FD	SH BEN INT	59318T109	624	244,719	SH		SOLE		233,040	0	11,679
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	711	125,210	SH		SOLE		115,328	0	9,882
MORGAN STANLEY CHINA A SH FD	COM	617468103	601	25,758	SH		SOLE		24,236	0	1,522
NEW GERMANY FD INC	COM	644465106	2,097	149,981	SH		SOLE		144,418	0	5,563
NEW IRELAND FUND INC	COM	645673104	986	109,392	SH		SOLE		86,907	0	22,485
NUVEEN CORE EQUITY ALPHA FUN	COM	67090X107	6,335	450,562	SH		SOLE		429,414	0	21,148
NUVEEN DIVERSIFIED DIV INCM	COM	6706EP105	1,189	114,742	SH		SOLE		114,742	0	0
NUVEEN DOW 30 DYN OVERWRITE	SHS	67075F105	185	10,253	SH		SOLE		9,938	0	315
NUVEEN FLOATING RATE INCOME	COM	67072T108	486	50,465	SH		SOLE		44,653	0	5,812
NUVEEN FLTNG RTE INCM OPP FD	COM SHS	6706EN100	823	85,773	SH		SOLE		82,366	0	3,407
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	419	27,631	SH		SOLE		25,917	0	1,714
NUVEEN REAL ASSET INM AND GW	COM	67074Y105	297	18,500	SH		SOLE		16,186	0	2,314
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	877	66,433	SH		SOLE		65,614	0	819
NUVEEN TAX ADVANTAGED DIV GR	COM	67073G105	4,509	280,734	SH		SOLE		252,429	0	28,305
NUVEEN TX ADV TOTAL RET STRG	COM	67090H102	6,037	524,926	SH		SOLE		493,263	0	31,663
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	193	13,620	SH		SOLE		13,620	0	0
PIMCO INCOME STRATEGY FUND	COM	72201H108	898	78,296	SH		SOLE		74,701	0	3,595
PIMCO INCOME STRATEGY FUND I	COM	72201J104	2,343	227,736	SH		SOLE		199,887	0	27,849
PIONEER FLOATING RATE TR	COM	72369J102	1,566	150,537	SH		SOLE		119,161	0	31,376
PIONEER HIGH INCOME TR	COM	72369H106	183	20,447	SH		SOLE		20,447	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	184	35,719	SH		SOLE		35,719	0	0
RIVERNORTH DOUBLELINE STRATE	COM	76882G107	315	19,235	SH		SOLE		12,924	0	6,311
ROYCE MICRO-CAP TR INC	COM	780915104	2,335	280,270	SH		SOLE		258,192	0	22,078
ROYCE VALUE TR INC	COM	780910105	3,820	277,644	SH		SOLE		249,854	0	27,790
SOURCE CAP INC	COM	836144105	4,184	116,209	SH		SOLE		109,203	0	7,006
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	5,244	390,154	SH		SOLE		374,473	0	15,681
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	839	33,482	SH		SOLE		30,473	0	3,009
SPROTT FOCUS TR INC	COM	85208J109	752	109,849	SH		SOLE		108,211	0	1,638
TAIWAN FD INC	COM	874036106	224	12,500	SH		SOLE		12,500	0	0
TEKLA HEALTHCARE INVS	SH BEN INT	87911J103	422	20,529	SH		SOLE		19,477	0	1,052
TEMPLETON DRAGON FD INC	COM	88018T101	736	37,014	SH		SOLE		37,014	0	0
THL CR SR LN FD	COM	87244R103	293	19,058	SH		SOLE		19,058	0	0
VIRTUS GLOBAL MULTI-SEC INC	COM	92829B101	1,138	92,880	SH		SOLE		79,093	0	13,787
VOYA ASIA PAC DIVID EQUITY I	COM	92912J102	341	36,400	SH		SOLE		22,423	0	13,977
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	399	50,136	SH		SOLE		50,136	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	2,004	185,697	SH		SOLE		183,273	0	2,424
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	175	27,000	SH		SOLE		10,557	0	16,443
VOYA PRIME RATE TR	SH BEN INT	92913A100	229	48,000	SH		SOLE		48,000	0	0
WELLS FARGO GLOBAL DIVIDEND	COM	94987C103	381	72,765	SH		SOLE		72,765	0	0
WELLS FARGO INCOME OPPORTUNI	WF INC OPPTY FD	94987B105	1,197	151,891	SH		SOLE		132,019	0	19,872
WELLS FARGO MULTI SECTOR INC	COM	94987D101	578	47,806	SH		SOLE		36,302	0	11,504
WESTERN ASSET HGH YLD DFNDFD	COM	95768B107	512	34,687	SH		SOLE		34,687	0	0
WESTERN ASSET HIGH INCM OPP	COM	95766K109	182	37,761	SH		SOLE		25,811	0	11,950
WESTERN ASSET VAR RT STRG FD	COM	957667108	339	21,263	SH		SOLE		19,323	0	1,940
XAI OCTAGON FLOATNG RATE ALT	COM	98400T106	448	51,588	SH		SOLE		48,568	0	3,020