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 INCOME	COM	003009107	1,260	330,626	SH		SOLE		327,224	0	3,402
ABERDEEN AUSTRALIA EQUITY FD	COM	003011103	136	30,510	SH		SOLE		30,510	0	0
ABERDEEN GLOBAL INCOME FD IN	COM	003013109	512	82,863	SH		SOLE		82,863	0	0
ABERDEEN GLOBAL PREMIER PPTY	COM SH BEN INT	00302L108	423	90,729	SH		SOLE		89,391	0	1,338
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	640	42,905	SH		SOLE		42,905	0	0
ADVENT CONVERTIBLE & INCOME	COM	00764C109	376	28,767	SH		SOLE		27,374	0	1,393
ALLIANCEBERNSTEIN GLOBAL HIG	COM	01879R106	737	72,928	SH		SOLE		72,201	0	727
ALLIANZGI ARTIFICIAL INTELLI	COM	01883M101	1,875	95,050	SH		SOLE		94,561	0	489
ALLIANZGI CONV INCOME FD II	COM	018825109	264	67,419	SH		SOLE		59,841	0	7,578
ALLIANZGI DIVERSIFIED INCOME	COM	01883J108	786	34,103	SH		SOLE		32,723	0	1,380
ANGEL OAK FINL STRATEGIES IN	COM BEN INT	03464A100	444	26,291	SH		SOLE		25,711	0	580
APOLLO SR FLOATING RATE FD I	COM	037636107	461	37,103	SH		SOLE		36,656	0	447
APOLLO TACTICAL INCOME FD IN	COM	037638103	2,856	229,970	SH		SOLE		228,941	0	1,029
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	1,892	158,563	SH		SOLE		155,414	0	3,149
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	1,301	103,526	SH		SOLE		100,219	0	3,307
BLACKROCK CR ALLOCATION INCO	COM	092508100	488	37,000	SH		SOLE		37,000	0	0
BLACKROCK DEBT STRATEGIES FD	COM NEW	09255R202	1,056	113,164	SH		SOLE		111,924	0	1,240
BLACKROCK ENH CAP & INC FD I	COM	09256A109	2,197	151,857	SH		SOLE		150,228	0	1,629
BLACKROCK ENHANCED EQUITY DI	COM	09251A104	3,457	471,024	SH		SOLE		465,858	0	5,166
BLACKROCK ENHANCED GLOBAL DI	COM	092501105	530	56,260	SH		SOLE		56,260	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	455	41,483	SH		SOLE		40,790	0	693
BLACKROCK FLOATING RATE INCO	COM	09255X100	1,905	170,437	SH		SOLE		166,292	0	4,145
BLACKROCK LTD DURATION INC T	COM SHS	09249W101	2,735	196,373	SH		SOLE		193,187	0	3,186
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	2,685	186,308	SH		SOLE		184,026	0	2,282
BLACKSTONE GSO FLTING RTE FU	COM	09256U105	1,514	117,756	SH		SOLE		114,883	0	2,873
BLACKSTONE GSO LNG SHRT CR I	COM SHS BN INT	09257D102	1,737	144,185	SH		SOLE		142,870	0	1,315
BLACKSTONE GSO STRATEGIC CR	COM SHS BEN IN	09257R101	1,629	142,602	SH		SOLE		138,326	0	4,276
BNY MELLON ALCENTRA GLOBAL C	COM	05588N108	1,343	175,378	SH		SOLE		172,279	0	3,099
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	1,052	411,039	SH		SOLE		411,039	0	0
BNY MELLON MUN BD INFRASTRUC	COM SHS	09662W109	525	40,085	SH		SOLE		39,972	0	113
BOULDER GROWTH & INCOME FD I	COM	101507101	3,524	374,095	SH		SOLE		368,865	0	5,230
CALAMOS CONV & HIGH INCOME F	COM SHS	12811P108	617	54,420	SH		SOLE		54,420	0	0
CALAMOS CONV OPP AND INC FD	SH BEN INT	128117108	208	19,502	SH		SOLE		19,502	0	0
CALAMOS GBL DYN INCOME FUND	COM	12811L107	554	75,849	SH		SOLE		75,324	0	525
CALAMOS LNG SHR EQT DYNAMIC	COM	12812C106	2,194	141,729	SH		SOLE		138,297	0	3,432
CBRE CLARION GLOBAL REAL EST	COM	12504G100	374	62,589	SH		SOLE		62,589	0	0
CENTRAL SECS CORP	COM	155123102	2,380	82,504	SH		SOLE		81,963	0	541
CHINA FD INC	COM	169373107	1,115	49,924	SH		SOLE		49,248	0	676
CLOUGH GLOBAL DIVID & INCOME	COM	18913Y103	434	50,494	SH		SOLE		49,976	0	518
CLOUGH GLOBAL EQUITY FD	COM	18914C100	1,506	141,453	SH		SOLE		138,519	0	2,934
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	401	46,068	SH		SOLE		46,068	0	0
COHEN & STEERS CLOSED END OP	COM	19248P106	416	39,062	SH		SOLE		36,960	0	2,102
COHEN & STEERS REIT & PFD &I	COM	19247X100	394	20,599	SH		SOLE		19,823	0	776
CREDIT SUISSE ASSET MGMT INC	COM	224916106	716	264,359	SH		SOLE		258,811	0	5,548
CREDIT SUISSE HIGH YLD BND F	SH BEN INT	22544F103	1,268	634,077	SH		SOLE		634,077	0	0
DELAWARE ENHANCED GBL DIV &	COM	246060107	984	121,762	SH		SOLE		121,762	0	0
DELAWARE INVTS DIV & INCOME	COM	245915103	759	90,194	SH		SOLE		90,194	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	1,124	73,130	SH		SOLE		73,130	0	0
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	331	17,464	SH		SOLE		17,232	0	232
EATON VANCE FLTING RATE INC	COM	278279104	510	44,756	SH		SOLE		44,756	0	0
EATON VANCE FLTNG RATE 2022	COM	27831H100	423	52,204	SH		SOLE		52,204	0	0
EATON VANCE HIGH INCOME 2021	COM SH BEN INT	27829W101	383	40,410	SH		SOLE		40,410	0	0
EATON VANCE LTD DURATION INC	COM	27828H105	1,411	125,174	SH		SOLE		125,174	0	0
EATON VANCE SHORT DURATION D	COM	27828V104	817	72,023	SH		SOLE		69,665	0	2,358
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	170	15,034	SH		SOLE		15,034	0	0
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	392	73,606	SH		SOLE		66,925	0	6,681
EATON VANCE TAX ADVT DIV INC	COM	27828G107	553	28,752	SH		SOLE		28,752	0	0
EATON VANCE TAX MNGD BUY WRI	COM SH BEN INT	27829M103	134	15,000	SH		SOLE		15,000	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	1,880	254,679	SH		SOLE		247,052	0	7,627
EATON VANCE TX ADV GLB DIV O	COM	27828U106	755	36,353	SH		SOLE		36,353	0	0
EATON VANCE TX ADV GLBL DIV	COM	27828S101	3,872	271,125	SH		SOLE		270,149	0	976
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	983	91,178	SH		SOLE		91,178	0	0
EUROPEAN EQUITY FD INC	COM	298768102	1,304	156,763	SH		SOLE		156,763	0	0
FIRST TR ABERDEEN GLBL OPP F	COM SHS	337319107	469	47,247	SH		SOLE		47,247	0	0
FIRST TR ENHANCED EQTY INC F	COM	337318109	2,266	155,726	SH		SOLE		151,348	0	4,378
FIRST TR HIGH INCOME L/S FD	COM	33738E109	1,319	99,420	SH		SOLE		96,899	0	2,521
FIRST TR SR FLG RTE INCM FD	COM	33733U108	395	36,277	SH		SOLE		35,905	0	372
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	1,116	135,052	SH		SOLE		130,339	0	4,713
FIRST TR/ABERDEEN EMERG OPT	COM	33731K102	265	22,412	SH		SOLE		22,412	0	0
FRANKLIN UNVL TR	SH BEN INT	355145103	1,133	170,120	SH		SOLE		170,120	0	0
GABELLI DIVID & INCOME TR	COM	36242H104	3,401	193,236	SH		SOLE		189,318	0	3,918
GABELLI GLB SML & MD CP VAL	COM	36249W104	354	39,880	SH		SOLE		39,880	0	0
GAMCO NAT RES GOLD & INCOME	SH BEN INT	36465E101	162	33,660	SH		SOLE		32,415	0	1,245
GENERAL AMERN INVS INC	COM	368802104	1,755	55,164	SH		SOLE		54,461	0	703
GUGGENHEIM ENHANCED EQUITY I	COM	40167B100	2,698	496,925	SH		SOLE		493,639	0	3,286
HANCOCK JOHN INCOME SECS TR	COM	410123103	475	32,915	SH		SOLE		32,501	0	414
HANCOCK JOHN INVS TR	COM	410142103	1,234	79,571	SH		SOLE		79,495	0	76
HANCOCK JOHN INVT TR	TAX ADV GLB SH	41013P749	258	49,317	SH		SOLE		49,317	0	0
HANCOCK JOHN TAX-ADVANTAGED	COM	41013V100	431	22,356	SH		SOLE		20,993	0	1,363
HERZFELD CARIBBEAN BASIN FD	COM	42804T106	563	152,066	SH		SOLE		152,066	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	640	99,323	SH		SOLE		99,323	0	0
INVESCO DYNAMIC CR OPPORTUNI	COM	46132R104	789	88,657	SH		SOLE		86,877	0	1,780
INVESCO HIGH INCOME TR II	COM	46131F101	160	13,366	SH		SOLE		12,945	0	421
INVESCO SR INCOME TR	COM	46131H107	782	225,909	SH		SOLE		222,818	0	3,091
IVY HIGH INCOME OPPORTUNITIE	COM	465893105	799	71,126	SH		SOLE		70,089	0	1,037
JAPAN SMALLER CAPITALIZATION	COM	47109U104	98	12,530	SH		SOLE		12,530	0	0
JOHN HANCOCK HDG EQ & INC FD	COM	47804L102	279	24,853	SH		SOLE		24,853	0	0
KKR INCOME OPPORTUNITIES FD	COM	48249T106	2,379	193,075	SH		SOLE		188,449	0	4,626
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	2,743	479,495	SH		SOLE		474,967	0	4,528
LIBERTY ALL-STAR GROWTH FD I	COM	529900102	905	143,840	SH		SOLE		143,840	0	0
LMP CAP & INCOME FD INC	COM	50208A102	161	16,065	SH		SOLE		16,065	0	0
MACQUARIE GLOBAL INFRASTRUCT	COM	55608D101	260	14,772	SH		SOLE		14,772	0	0
MADISON COVERED CALL & EQUIT	COM	557437100	1,205	213,628	SH		SOLE		212,133	0	1,495
MFS CHARTER INCOME TR	SH BEN INT	552727109	513	64,470	SH		SOLE		64,470	0	0
MFS INTER HIGH INCOME FD	SH BEN INT	59318T109	256	119,237	SH		SOLE		108,456	0	10,781
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	297	53,228	SH		SOLE		53,228	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	695	35,632	SH		SOLE		35,632	0	0
MORGAN STANLEY EMERGING MKTS	COM	617477104	611	108,134	SH		SOLE		104,435	0	3,699
NEUBERGER BERMAN HIGH YIELD	COM	64128C106	223	21,558	SH		SOLE		21,558	0	0
NEW GERMANY FD INC	COM	644465106	3,027	199,429	SH		SOLE		197,902	0	1,527
NEW IRELAND FD INC	COM	645673104	713	92,043	SH		SOLE		88,738	0	3,305
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	3,867	316,946	SH		SOLE		314,703	0	2,243
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	393	67,220	SH		SOLE		64,137	0	3,083
NUVEEN DIVERSIFIED DIVID & I	COM	6706EP105	1,684	217,811	SH		SOLE		215,690	0	2,121
NUVEEN DOW 30 DYNAMIC OVERWR	SHS	67075F105	4,545	333,954	SH		SOLE		330,806	0	3,148
NUVEEN FLOATING RATE INCOME	COM	67072T108	328	41,527	SH		SOLE		38,311	0	3,216
NUVEEN FLTNG RTE INCM OPP FD	COM SHS	6706EN100	778	99,164	SH		SOLE		95,816	0	3,348
NUVEEN HIGH INCOME NOVEMBER	COM	67077N106	557	62,323	SH		SOLE		62,323	0	0
NUVEEN NASDAQ 100 DYNAMIC OV	COM SHS	670699107	345	15,000	SH		SOLE		15,000	0	0
NUVEEN PFD & INCM SECURTIES	COM	67072C105	476	56,298	SH		SOLE		55,196	0	1,102
NUVEEN PFD & INCOME OPPORTUN	COM	67073B106	397	48,200	SH		SOLE		46,393	0	1,807
NUVEEN REAL ASSET INCOME & G	COM	67074Y105	439	37,572	SH		SOLE		37,572	0	0
NUVEEN REAL ESTATE INCOME FD	COM	67071B108	412	55,165	SH		SOLE		55,165	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	3,976	361,473	SH		SOLE		358,411	0	3,062
NUVEEN S&P 500 DYNAMIC OVERW	COM	6706EW100	3,747	291,841	SH		SOLE		288,224	0	3,617
NUVEEN SHT DUR CR OPP FD	COM	67074X107	235	19,966	SH		SOLE		19,966	0	0
NUVEEN SR INCOME FD	COM	67067Y104	120	25,499	SH		SOLE		25,499	0	0
NUVEEN TAX-ADVANTAGED DIVID	COM	67073G105	3,875	303,435	SH		SOLE		300,560	0	2,875
NUVEEN TX ADV TOTAL RET STRG	COM	67090H102	3,474	431,005	SH		SOLE		430,749	0	256
PGIM GLOBAL HIGH YIELD FD FO	COM	69346J106	1,131	88,883	SH		SOLE		87,494	0	1,389
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	519	39,226	SH		SOLE		39,226	0	0
PIMCO DYNAMIC CR INCOME FD	COM SHS	72202D106	1,096	59,485	SH		SOLE		58,540	0	945
PIONEER DIVERSIFIED HIGH INC	COM	723653101	281	23,365	SH		SOLE		23,356	0	9
PIONEER HIGH INCOME TR	COM	72369H106	1,443	193,990	SH		SOLE		192,132	0	1,858
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	1,388	340,191	SH		SOLE		333,645	0	6,546
RIVERNORTH SPECIALTY FIN COR	COM	76882B108	581	39,129	SH		SOLE		39,129	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	2,932	407,224	SH		SOLE		401,668	0	5,556
SOURCE CAP INC	COM	836144105	3,527	106,605	SH		SOLE		104,964	0	1,641
SPDR S&P 500 ETF TR	TR UNIT	78462F103	987	3,200	SH		SOLE		3,133	0	67
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	1,740	154,395	SH		SOLE		154,395	0	0
SPECIAL OPPORTUNITIES FD INC	PFD CONV SE B	84741T302	568	22,571	SH		SOLE		22,571	0	0
SPROTT FOCUS TR INC	COM	85208J109	3,453	585,291	SH		SOLE		575,280	0	10,011
SWISS HELVETIA FD INC	COM	870875101	239	30,489	SH		SOLE		30,489	0	0
TEKLA HEALTHCARE INVS	SH BEN INT	87911J103	891	41,780	SH		SOLE		40,728	0	1,052
TEKLA LIFE SCIENCES INVS	SH BEN INT	87911K100	336	18,696	SH		SOLE		18,696	0	0
TEMPLETON DRAGON FD INC	COM	88018T101	990	49,048	SH		SOLE		48,264	0	784
TEMPLETON EMERGING MKTS INCO	COM	880192109	945	120,377	SH		SOLE		118,165	0	2,212
TORTOISE ESSENTIAL ASSETS IN	COM SH BEN INT	89148A103	1,432	128,176	SH		SOLE		128,176	0	0
TRI CONTL CORP	COM	895436103	5,445	220,353	SH		SOLE		217,012	0	3,341
VIRTUS GLOBAL MULTI-SEC INC	COM	92829B101	2,928	263,045	SH		SOLE		258,269	0	4,776
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	212	34,100	SH		SOLE		30,000	0	4,100
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	684	83,537	SH		SOLE		83,537	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	979	202,672	SH		SOLE		202,672	0	0
VOYA INFRASTRUCTURE INDLS &	COM	92912X101	181	20,101	SH		SOLE		20,101	0	0
VOYA INTL HIGH DIVID EQTY IN	COM	92912Y109	923	223,431	SH		SOLE		221,413	0	2,018
VOYA PRIME RATE TR	SH BEN INT	92913A100	444	109,043	SH		SOLE		109,043	0	0
WELLS FARGO INCOME OPPORTUNI	WF INC OPPTY FD	94987B105	2,694	383,704	SH		SOLE		378,626	0	5,078
WELLS FARGO MULTI SECTOR INC	COM	94987D101	3,033	275,488	SH		SOLE		270,156	0	5,332
WESTERN ASSET EMERGING MKTS	COM	95766A101	294	23,873	SH		SOLE		23,873	0	0
WESTERN ASSET HIGH INCM FD I	COM	95766J102	2,713	437,582	SH		SOLE		428,883	0	8,699
WESTERN ASSET HIGH YIELD DEF	COM	95768B107	433	30,982	SH		SOLE		30,982	0	0