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	1,572	376,187	SH		SOLE		325,771	0	50,416
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	2,376	246,513	SH		SOLE		234,677	0	11,836
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	784	93,957	SH		SOLE		93,957	0	0
ALLIANCEBERNSTEIN GBL HGH IN	COM	01879R106	1,701	144,426	SH		SOLE		135,925	0	8,501
ALLIANZGI CON INCM 2024 TARG	COM	01883H102	1,601	173,474	SH		SOLE		133,840	0	39,634
ALLIANZGI EQUITY & CONV INCO	COM	018829101	414	19,082	SH		SOLE		11,501	0	7,581
ALLIANZGI NFJ DIVID INT & PR	COM	01883A107	1,663	134,141	SH		SOLE		131,937	0	2,204
APOLLO SR FLOATING RATE FD I	COM	037636107	1,169	78,186	SH		SOLE		68,445	0	9,741
APOLLO TACTICAL INCOME FD IN	COM	037638103	4,254	288,384	SH		SOLE		259,852	0	28,532
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	3,365	222,373	SH		SOLE		201,613	0	20,761
BLACKROCK 2022 GBL INCM OPP	COM	09258P104	108	11,443	SH		SOLE		6,106	0	5,337
BLACKROCK CR ALLCTN INC TR	COM	092508100	244	18,806	SH		SOLE		8,820	0	9,986
BLACKROCK DEBT STRAT FD INC	COM NEW	09255R202	1,703	158,147	SH		SOLE		147,152	0	10,995
BLACKROCK ENH CAP & INC FD I	COM	09256A109	5,923	374,884	SH		SOLE		345,770	0	29,114
BLACKROCK ENHANCED EQT DIV T	COM	09251A104	3,692	416,188	SH		SOLE		366,899	0	49,289
BLACKROCK ENHANCED GBL DIV T	COM	092501105	750	69,901	SH		SOLE		69,901	0	0
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	182	32,456	SH		SOLE		32,456	0	0
BLACKROCK FLOAT RATE OME STR	COM	09255X100	820	63,921	SH		SOLE		57,582	0	6,339
BLACKROCK FLOATING RATE INCO	COM	091941104	235	18,895	SH		SOLE		18,895	0	0
BLACKROCK LTD DURATION INC T	COM SHS	09249W101	1,618	107,848	SH		SOLE		101,386	0	6,462
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	1,429	81,889	SH		SOLE		70,419	0	11,470
BLACKSTONE GSO STRATEGIC CR	COM SHS BEN IN	09257R101	1,304	88,866	SH		SOLE		83,540	0	5,326
BNY MELLON ALCENTRA GLOBAL C	COM	05588N108	279	29,851	SH		SOLE		29,851	0	0
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	1,286	420,294	SH		SOLE		403,080	0	17,214
BOULDER GROWTH & INCOME FD I	COM	101507101	3,534	314,392	SH		SOLE		291,056	0	23,336
BROOKFIELD REAL ASSETS INCOM	SHS BEN INT	112830104	3,183	146,753	SH		SOLE		135,043	0	11,710
CALAMOS CONV & HIGH INCOME F	COM SHS	12811P108	316	28,674	SH		SOLE		27,008	0	1,666
CALAMOS CONV OPP AND INC FD	SH BEN INT	128117108	384	36,600	SH		SOLE		36,600	0	0
CALAMOS GBL DYN INCOME FUND	COM	12811L107	215	26,564	SH		SOLE		24,255	0	2,309
CALAMOS STRATEGIC TOTL RETN	COM SH BEN INT	128125101	4,200	329,157	SH		SOLE		326,212	0	2,945
CENTRAL SECS CORP	COM	155123102	6,567	215,166	SH		SOLE		203,933	0	11,233
CHINA FD INC	COM	169373107	867	42,857	SH		SOLE		36,965	0	5,892
CLOUGH GLOBAL DIVND AND INC	COM	18913Y103	2,304	205,891	SH		SOLE		190,817	0	15,074
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	1,734	185,412	SH		SOLE		176,938	0	8,474
CREDIT SUISSE ASSET MGMT INC	COM	224916106	1,052	338,227	SH		SOLE		269,624	0	68,603
DOUBLELINE INCOME SOLUTIONS	COM	258622109	1,558	77,999	SH		SOLE		62,240	0	15,759
DUFF & PHELPS UTIL CORP BD T	COM	26432K108	845	96,598	SH		SOLE		90,047	0	6,551
EATON VANCE FLTG RATE INCOM	COM SHS BEN INT	278284104	309	20,622	SH		SOLE		18,376	0	2,246
EATON VANCE FLTING RATE INC	COM	278279104	732	54,332	SH		SOLE		38,897	0	15,435
EATON VANCE LTD DUR INCOME F	COM	27828H105	3,065	242,311	SH		SOLE		211,116	0	31,195
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	221	16,848	SH		SOLE		16,848	0	0
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	161	25,882	SH		SOLE		25,882	0	0
EATON VANCE TAX MNGD GBL DV	COM	27829F108	225	27,160	SH		SOLE		27,160	0	0
EATON VANCE TX ADV GLBL DIV	COM	27828S101	5,397	336,240	SH		SOLE		292,021	0	44,219
EATON VANCE TXMGD GL BUYWR O	COM	27829C105	2,336	238,611	SH		SOLE		223,058	0	15,553
ELLSWORTH GRWTH AND INCOME L	COM	289074106	773	75,323	SH		SOLE		71,220	0	4,103
EUROPEAN EQUITY FUND	COM	298768102	3,039	344,182	SH		SOLE		325,040	0	19,142
FIRST TR DYNAMIC EUROPE EQT	COM SHS	33740d107	516	36,798	SH		SOLE		34,256	0	2,542
FIRST TR HIGH INCOME L/S FD	COM	33738E109	681	45,368	SH		SOLE		42,079	0	3,289
FIRST TR SR FLG RTE INCM FD	COM	33733U108	1,559	129,337	SH		SOLE		105,034	0	24,303
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	520	58,383	SH		SOLE		57,385	0	998
FLAHERTY & CRUMRINE DYN PFD	SHS	33848W106	928	37,081	SH		SOLE		35,639	0	1,442
FRANKLIN LTD DURATION INC TR	COM	35472T101	1,340	139,171	SH		SOLE		129,826	0	9,345
FRANKLIN UNVL TR	SH BEN INT	355145103	1,597	218,120	SH		SOLE		207,654	0	10,466
GABELLI CONV&INCOM SECS FD I	COM	36240B109	1,018	198,404	SH		SOLE		190,245	0	8,159
GABELLI DIVD & INCOME TR	COM	36242H104	4,326	199,608	SH		SOLE		179,451	0	20,157
GABELLI GLB SML & MD CP VAL	COM	36249W104	808	69,603	SH		SOLE		57,434	0	12,169
GENERAL AMERN INVS INC	COM	368802104	4,298	121,093	SH		SOLE		115,605	0	5,488
HANCOCK JOHN INCOME SECS TR	COM	410123103	291	20,236	SH		SOLE		18,166	0	2,070
HANCOCK JOHN INV TRUST	TAX ADV GLB SH	41013P749	890	130,332	SH		SOLE		112,566	0	17,766
HANCOCK JOHN INVS TR	COM	410142103	2,983	181,882	SH		SOLE		167,270	0	14,612
HERZFELD CARIBBEAN BASIN FD	COM	42804T106	928	145,932	SH		SOLE		140,621	0	5,311
INVESCO HIGH INCOME 2023 TAR	COM	46135X108	911	87,223	SH		SOLE		63,643	0	23,580
INVESCO HIGH INCOME TR II	COM	46131F101	415	28,601	SH		SOLE		19,736	0	8,865
IVY HIGH INC OPPORTUNITIES F	COM	465893105	3,225	237,670	SH		SOLE		213,813	0	23,857
JOHN HANCOCK HDG EQ & INC FD	COM	47804L102	1,924	136,450	SH		SOLE		129,380	0	7,070
KKR INCOME OPPORTUNITIES FD	COM	48249T106	1,085	68,981	SH		SOLE		68,737	0	244
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	765	119,145	SH		SOLE		116,046	0	3,099
MADISON CVRED CALL & EQ STR	COM	557437100	164	24,806	SH		SOLE		24,806	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	402	49,285	SH		SOLE		49,187	0	98
MFS INTERMEDIATE HIGH INC FD	SH BEN INT	59318T109	635	250,105	SH		SOLE		224,685	0	25,420
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	399	68,354	SH		SOLE		65,426	0	2,928
MORGAN STANLEY CHINA A SH FD	COM	617468103	560	25,758	SH		SOLE		24,236	0	1,522
NEW GERMANY FD INC	COM	644465106	1,996	140,358	SH		SOLE		134,795	0	5,563
NEW IRELAND FUND INC	COM	645673104	973	108,501	SH		SOLE		86,016	0	22,485
NUVEEN CORE EQUITY ALPHA FUN	COM	67090X107	9,499	676,590	SH		SOLE		638,609	0	37,981
NUVEEN CR OPPORTUNITIES 2022	COM	67075U102	286	30,000	SH		SOLE		30,000	0	0
NUVEEN DIVERSIFIED DIV INCM	COM	6706EP105	476	44,720	SH		SOLE		44,720	0	0
NUVEEN DOW 30 DYN OVERWRITE	SHS	67075F105	4,036	229,212	SH		SOLE		209,873	0	19,339
NUVEEN FLOATING RATE INCOME	COM	67072T108	562	57,042	SH		SOLE		49,826	0	7,216
NUVEEN FLTNG RTE INCM OPP FD	COM SHS	6706EN100	1,129	115,877	SH		SOLE		108,656	0	7,221
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	1,241	80,246	SH		SOLE		63,082	0	17,164
NUVEEN NASDAQ 100 DYNAMIC OV	COM SHS	670699107	1,104	49,350	SH		SOLE		47,951	0	1,399
NUVEEN PFD & INCM SECURTIES	COM	67072C105	449	47,302	SH		SOLE		33,258	0	14,044
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	634	47,635	SH		SOLE		47,635	0	0
NUVEEN SHT DUR CR OPP FD	COM	67074X107	1,333	84,073	SH		SOLE		82,885	0	1,188
NUVEEN SR INCOME FD	COM	67067Y104	418	70,537	SH		SOLE		36,444	0	34,093
NUVEEN TAX ADVANTAGED DIV GR	COM	67073G105	6,186	372,226	SH		SOLE		343,033	0	29,193
NUVEEN TX ADV TOTAL RET STRG	COM	67090H102	8,682	758,949	SH		SOLE		705,548	0	53,401
PGIM GLOBAL HIGH YIELD FD IN	COM	69346J106	1,443	99,830	SH		SOLE		94,807	0	5,023
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	165	11,276	SH		SOLE		11,276	0	0
PIONEER DIV HIGH INCOME TRUS	COM	723653101	258	18,025	SH		SOLE		12,405	0	5,620
PIONEER FLOATING RATE TR	COM	72369J102	1,220	114,080	SH		SOLE		109,303	0	4,777
PIONEER HIGH INCOME TR	COM	72369H106	520	57,812	SH		SOLE		53,890	0	3,922
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	893	194,450	SH		SOLE		163,000	0	31,450
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	140	27,242	SH		SOLE		27,242	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	3,930	478,059	SH		SOLE		435,361	0	42,698
ROYCE VALUE TR INC	COM	780910105	5,046	362,515	SH		SOLE		327,216	0	35,299
SOURCE CAP INC	COM	836144105	4,995	136,601	SH		SOLE		127,470	0	9,131
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	6,135	446,202	SH		SOLE		421,574	0	24,628
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	691	27,482	SH		SOLE		24,473	0	3,009
SPROTT FOCUS TR INC	COM	85208J109	2,737	406,091	SH		SOLE		400,219	0	5,872
SWISS HELVETIA FD INC	COM	870875101	91	11,495	SH		SOLE		11,495	0	0
TAIWAN FD INC	COM	874036106	212	12,500	SH		SOLE		12,500	0	0
TEKLA HEALTHCARE INVS	SH BEN INT	87911J103	412	20,529	SH		SOLE		19,477	0	1,052
TEMPLETON DRAGON FD INC	COM	88018T101	594	30,929	SH		SOLE		30,929	0	0
TEMPLETON GLOBAL INCOME FD	COM	880198106	915	143,843	SH		SOLE		127,942	0	15,901
THL CR SR LN FD	COM	87244R103	1,415	92,758	SH		SOLE		90,698	0	2,060
TRI CONTL CORP	COM	895436103	222	8,224	SH		SOLE		8,224	0	0
VIRTUS GLOBAL MULTI-SEC INC	COM	92829B101	796	62,894	SH		SOLE		62,606	0	288
VOYA ASIA PAC DIVID EQUITY I	COM	92912J102	336	36,400	SH		SOLE		22,423	0	13,977
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	485	62,557	SH		SOLE		62,557	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	479	44,742	SH		SOLE		43,753	0	989
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	1,200	184,066	SH		SOLE		181,115	0	2,951
VOYA INTL HIGH DIVID EQTY IN	COM	92912Y109	467	79,485	SH		SOLE		77,018	0	2,467
VOYA PRIME RATE TR	SH BEN INT	92913A100	566	118,850	SH		SOLE		83,847	0	35,003
WELLS FARGO GLOBAL DIVIDEND	COM	94987C103	296	54,086	SH		SOLE		54,086	0	0
WESTERN ASSET GLOBAL CP DEFI	COM	95790C107	1,294	75,459	SH		SOLE		73,802	0	1,657
WESTERN ASSET HGH YLD DFNDFD	COM	95768B107	309	20,648	SH		SOLE		16,536	0	4,112
WESTERN ASSET VAR RT STRG FD	COM	957667108	399	24,500	SH		SOLE		24,470	0	30