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 INCOME	COM	003009107	3,586	876,823	SH		SOLE		857,200	0	19,623
ABERDEEN AUSTRALIA EQUITY FD	COM	003011103	625	107,131	SH		SOLE		104,130	0	3,001
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	249	28,809	SH		SOLE		24,906	0	3,903
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	699	62,732	SH		SOLE		62,732	0	0
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	133	14,700	SH		SOLE		14,700	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	1,309	137,363	SH		SOLE		137,065	0	298
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	2,924	160,143	SH		SOLE		159,108	0	1,035
ADVENT CONVERTIBLE & INCOME	COM	00764C109	712	40,289	SH		SOLE		39,403	0	886
ALLIANCEBERNSTEIN GLOBAL HIG	COM	01879R106	1,166	98,388	SH		SOLE		96,589	0	1,799
ANGEL OAK FINL STRATEGIES IN	COM BEN INT	03464A100	3,009	172,749	SH		SOLE		165,047	0	7,702
APOLLO SR FLOATING RATE FD I	COM	037636107	242	16,263	SH		SOLE		16,263	0	0
APOLLO TACTICAL INCOME FD IN	COM	037638103	3,193	214,604	SH		SOLE		213,755	0	849
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	873	58,104	SH		SOLE		55,474	0	2,630
BANCROFT FD LTD	COM	059695106	700	23,735	SH		SOLE		23,735	0	0
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	2,049	127,437	SH		SOLE		121,203	0	6,234
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	1,114	94,870	SH		SOLE		92,626	0	2,244
BLACKROCK DEBT STRATEGIES FD	COM NEW	09255R202	1,867	169,728	SH		SOLE		169,336	0	392
BLACKROCK ENHANCED CAP & INC	COM	09256A109	1,165	60,337	SH		SOLE		60,319	0	18
BLACKROCK ENHANCED EQUITY DI	COM	09251A104	1,221	129,106	SH		SOLE		127,601	0	1,505
BLACKROCK ENHANCED GLOBAL DI	COM	092501105	573	49,904	SH		SOLE		49,467	0	437
BLACKROCK ENHANCED GOVT FD I	COM	09255K108	484	37,938	SH		SOLE		37,938	0	0
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	402	66,248	SH		SOLE		66,248	0	0
BLACKROCK FLOATING RATE INCO	COM	091941104	1,589	126,988	SH		SOLE		125,956	0	1,032
BLACKROCK FLOATING RATE INCO	COM	09255X100	758	58,318	SH		SOLE		57,599	0	719
BLACKROCK LTD DURATION INC T	COM SHS	09249W101	2,730	162,975	SH		SOLE		162,322	0	653
BLACKROCK MULTI-SECTOR INC T	COM	09258A107	293	16,274	SH		SOLE		16,274	0	0
BLACKSTONE LONG-SHORT CREDIT	COM SHS BN INT	09257D102	1,246	88,113	SH		SOLE		82,055	0	6,058
BLACKSTONE SENIOR FLOATNG RA	COM	09256U105	970	62,365	SH		SOLE		61,065	0	1,300
BLACKSTONE STRATEGIC CREDIT	COM SHS BEN IN	09257R101	3,541	265,650	SH		SOLE		257,700	0	7,950
BNY MELLON ALCENTRA GLOBAL C	COM	05588N108	1,482	157,993	SH		SOLE		153,470	0	4,523
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	1,973	638,376	SH		SOLE	��	637,739	0	637
BNY MELLON MUN BD INFRASTRUC	COM SHS	09662W109	471	33,352	SH		SOLE		32,754	0	598
BOULDER GROWTH & INCOME FD I	COM	101507101	3,241	257,637	SH		SOLE		252,982	0	4,655
CALAMOS CONV & HIGH INCOME F	COM SHS	12811P108	2,197	147,378	SH		SOLE		143,634	0	3,744
CALAMOS CONV OPPORTUNITIES &	SH BEN INT	128117108	730	51,312	SH		SOLE		51,312	0	0
CALAMOS LNG SHR EQT DYNAMIC	COM	12812C106	1,453	71,982	SH		SOLE		71,982	0	0
CBRE CLARION GLOBAL REAL EST	COM	12504G100	356	45,634	SH		SOLE		45,634	0	0
CENTRAL & EASTERN EUROPE FD	COM	153436100	477	19,798	SH		SOLE		19,798	0	0
CENTRAL SECS CORP	COM	155123102	6,816	179,790	SH		SOLE		178,746	0	1,044
CHINA FD INC	COM	169373107	2,069	70,684	SH		SOLE		70,684	0	0
CLOUGH GLOBAL EQUITY FD	COM	18914C100	2,917	192,052	SH		SOLE		191,947	0	105
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	371	30,314	SH		SOLE		30,314	0	0
COHEN & STEERS LTD DURATION	COM	19248C105	1,195	45,746	SH		SOLE		45,746	0	0
COLUMBIA SELIGM PREM TECH GR	COM	19842X109	2,468	78,996	SH		SOLE		78,996	0	0
CREDIT SUISSE ASSET MGMT INC	COM	224916106	1,526	451,370	SH		SOLE		443,719	0	7,651
CREDIT SUISSE HIGH YIELD BD	SH BEN INT	22544F103	292	121,067	SH		SOLE		104,492	0	16,575
DELAWARE ENHANCED GBL DIV &	COM	246060107	1,931	196,837	SH		SOLE		196,837	0	0
DELAWARE INVTS DIV & INCOME	COM	245915103	2,063	198,354	SH		SOLE		196,257	0	2,097
DOUBLELINE INCOME SOLUTIONS	COM	258622109	355	19,569	SH		SOLE		19,545	0	24
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	956	48,420	SH		SOLE		48,325	0	95
EATON VANCE 2021 TARGET TRM	COM SHS BEN INT	27829W101	167	16,990	SH		SOLE		16,990	0	0
EATON VANCE ENHANCED EQUITY	COM	278274105	2,617	155,585	SH		SOLE		153,873	0	1,712
EATON VANCE ENHANCED EQUITY	COM	278277108	2,229	103,151	SH		SOLE		101,943	0	1,208
EATON VANCE FLOATING RATE 20	COM	27831H100	103	10,944	SH		SOLE		8,702	0	2,242
EATON VANCE LTD DURATION INC	COM	27828H105	1,278	101,205	SH		SOLE		100,455	0	750
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	1,077	78,065	SH		SOLE		77,578	0	487
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	203	30,561	SH		SOLE		28,009	0	2,552
EATON VANCE TAX ADVT DIV INC	COM	27828G107	437	16,644	SH		SOLE		16,644	0	0
EATON VANCE TAX MNGED BUY WR	COM	27828X100	261	16,578	SH		SOLE		16,578	0	0
EATON VANCE TAX-MANAGED DIVE	COM	27828N102	2,128	166,625	SH		SOLE		165,100	0	1,525
EATON VANCE TAX-MANAGED GLOB	COM	27829C105	170	16,493	SH		SOLE		16,493	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	1,748	188,000	SH		SOLE		188,000	0	0
EATON VANCE TX ADV GLBL DIV	COM	27828S101	3,339	174,909	SH		SOLE		174,897	0	12
EUROPEAN EQUITY FD INC	COM	298768102	1,721	161,483	SH		SOLE		161,483	0	0
FIRST EAGLE SENIOR LOAN FUND	COM NEW	32010E100	2,464	171,828	SH		SOLE		168,378	0	3,450
FIRST TR / ABERDEEN EMERGING	COM	33731K102	619	42,627	SH		SOLE		42,627	0	0
FIRST TR ABERDEEN GLBL OPP F	COM SHS	337319107	1,312	130,901	SH		SOLE		130,901	0	0
FIRST TR DYNAMIC EUROPE EQUI	COM SHS	33740d107	1,022	80,446	SH		SOLE		80,446	0	0
FIRST TR ENHANCED EQTY INC F	COM	337318109	5,486	293,384	SH		SOLE		290,957	0	2,427
FIRST TR HIGH INCOME L/S FD	COM	33738E109	989	65,417	SH		SOLE		63,574	0	1,843
FIRST TR INTER DUR PFD & IN	COM	33718W103	722	30,164	SH		SOLE		29,068	0	1,096
FIRST TR SR FLOATING RATE 20	COM SHS	33740K101	2,276	241,887	SH		SOLE		237,174	0	4,713
FRANKLIN UNVL TR	SH BEN INT	355145103	4,034	537,920	SH		SOLE		529,099	0	8,821
GABELLI CONV & INC SECS FD I	COM	36240B109	1,168	191,781	SH		SOLE		184,469	0	7,312
GABELLI DIVID & INCOME TR	COM	36242H104	1,881	78,489	SH		SOLE		77,813	0	676
GAMCO NAT RES GOLD & INCOME	SH BEN INT	36465E101	134	26,711	SH		SOLE		26,711	0	0
GENERAL AMERN INVS CO INC	COM	368802104	3,607	90,544	SH		SOLE		89,209	0	1,335
GUGGENHEIM ENHANCED EQUITY I	COM	40167B100	4,707	652,882	SH		SOLE		650,232	0	2,650
HANCOCK JOHN INVS TR	COM	410142103	571	31,746	SH		SOLE		31,278	0	468
HANCOCK JOHN PFD INCOME FD	SH BEN INT	41013W108	1,359	65,771	SH		SOLE		64,774	0	997
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	698	38,331	SH		SOLE		35,666	0	2,665
HERZFELD CARIBBEAN BASIN FD	COM	42804T106	589	100,225	SH		SOLE		100,225	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	435	56,466	SH		SOLE		55,662	0	804
INVESCO BD FD	COM	46132L107	1,059	53,048	SH		SOLE		53,048	0	0
INVESCO DYNAMIC CR OPPORTUNI	COM	46132R104	1,113	97,891	SH		SOLE		91,655	0	6,236
INVESCO SR INCOME TR	COM	46131H107	348	82,774	SH		SOLE		82,774	0	0
IVY HIGH INCOME OPPORTUNITIE	COM	465893105	2,078	152,343	SH		SOLE		147,440	0	4,903
JAPAN SMALLER CAPITALIZATION	COM	47109U104	691	74,253	SH		SOLE		74,253	0	0
JOHN HANCOCK HEDGED EQUITY &	COM	47804L102	693	57,474	SH		SOLE		57,474	0	0
KKR INCOME OPPORTUNITIES FD	COM	48249T106	290	18,321	SH		SOLE		18,321	0	0
KOREA FD INC	COM NEW	500634209	229	5,286	SH		SOLE		5,286	0	0
MACQUARIE GLOBAL INFRASTRUCT	COM	55608D101	418	19,112	SH		SOLE		17,428	0	1,684
MFS INTER INCOME TR	SH BEN INT	55273C107	377	101,324	SH		SOLE		94,296	0	7,028
MORGAN STANLEY CHINA A SH FD	COM	617468103	1,605	71,185	SH		SOLE		70,213	0	972
MORGAN STANLEY EMER MKTS DEB	COM	61744H105	644	71,896	SH		SOLE		71,896	0	0
MORGAN STANLEY EMERGING MKTS	COM	617477104	267	44,430	SH		SOLE		44,430	0	0
NEUBERGER BERMAN REAL ESTATE	COM	64190A103	176	38,643	SH		SOLE		38,643	0	0
NEW GERMANY FD INC	COM	644465106	4,506	227,927	SH		SOLE		223,554	0	4,373
NEW IRELAND FD INC	COM	645673104	1,977	175,290	SH		SOLE		173,790	0	1,500
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	2,186	143,750	SH		SOLE		143,750	0	0
NUVEEN CORPORATE INCM NOVEME	COM	67077N106	2,441	260,534	SH		SOLE		257,826	0	2,708
NUVEEN CR OPPORTUNITIES 2022	COM	67075U102	272	32,428	SH		SOLE		32,428	0	0
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	1,443	222,030	SH		SOLE		218,927	0	3,103
NUVEEN DIVERSIFIED DIVID & I	COM	6706EP105	540	56,945	SH		SOLE		56,945	0	0
NUVEEN DOW 30 DYNAMIC OVERWR	SHS	67075F105	4,430	272,586	SH		SOLE		269,199	0	3,387
NUVEEN EMERGING MKTS DEBT 20	COM	67077P101	1,396	176,771	SH		SOLE		170,401	0	6,370
NUVEEN FLOATING RATE INCOME	COM	67072T108	390	40,377	SH		SOLE		40,377	0	0
NUVEEN FLTNG RTE INCM OPP FD	COM SHS	6706EN100	959	100,503	SH		SOLE		99,281	0	1,222
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	338	21,836	SH		SOLE		21,836	0	0
NUVEEN PFD & INCM SECURTIES	COM	67072C105	483	49,700	SH		SOLE		49,700	0	0
NUVEEN PFD & INCOME OPPORTUN	COM	67073B106	1,750	184,360	SH		SOLE		182,917	0	1,443
NUVEEN REAL ASSET INCOME & G	COM	67074Y105	743	50,497	SH		SOLE		50,497	0	0
NUVEEN REAL ESTATE INCOME FD	COM	67071B108	192	19,969	SH		SOLE		19,969	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	1,998	148,209	SH		SOLE		148,209	0	0
NUVEEN S&P 500 DYNAMIC OVERW	COM	6706EW100	1,486	89,874	SH		SOLE		89,823	0	51
NUVEEN SHT DUR CR OPP FD	COM	67074X107	581	41,181	SH		SOLE		40,521	0	660
NUVEEN SR INCOME FD	COM	67067Y104	760	135,549	SH		SOLE		135,549	0	0
NUVEEN TAX-ADVANTAGED DIVID	COM	67073G105	4,552	301,251	SH		SOLE		298,376	0	2,875
NUVEEN TX ADV TOTAL RET STRG	COM	67090H102	2,708	252,131	SH		SOLE		250,068	0	2,063
PGIM GLOBAL HIGH YIELD FD FO	COM	69346J106	1,492	99,993	SH		SOLE		97,704	0	2,289
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	1,428	91,165	SH		SOLE		91,165	0	0
PIONEER DIVERSIFIED HIGH INC	COM	723653101	806	55,013	SH		SOLE		53,975	0	1,038
PIONEER FLOATING RATE TR	COM	72369J102	509	44,425	SH		SOLE		39,635	0	4,790
PIONEER HIGH INCOME TR	COM	72369H106	116	12,357	SH		SOLE		12,033	0	324
PRINCIPAL REAL ESTATE INCOME	SHS BEN INT	74255X104	280	20,740	SH		SOLE		20,740	0	0
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	3,497	809,602	SH		SOLE		799,822	0	9,780
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	2,157	442,842	SH		SOLE		438,875	0	3,967
ROYCE GLOBAL VALUE TR INC	COM	78081T104	459	32,321	SH		SOLE		32,321	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	3,767	333,323	SH		SOLE		328,624	0	4,699
ROYCE VALUE TR INC	COM	780910105	4,117	227,347	SH		SOLE		225,235	0	2,112
SOURCE CAP INC	COM	836144105	4,350	99,433	SH		SOLE		97,950	0	1,483
SPDR S&P 500 ETF TR	TR UNIT	78462F103	9,997	25,225	SH		SOLE		24,855	0	370
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	5,127	349,705	SH		SOLE		346,336	0	3,369
SPROTT FOCUS TR INC	COM	85208J109	4,334	555,607	SH		SOLE		551,746	0	3,861
SWISS HELVETIA FD INC	COM	870875101	856	97,403	SH		SOLE		95,558	0	1,845
TAIWAN FD INC	COM	874036106	624	22,074	SH		SOLE		22,074	0	0
TEKLA HEALTHCARE INVS	SH BEN INT	87911J103	264	10,834	SH		SOLE		10,834	0	0
TEKLA LIFE SCIENCES INVS	SH BEN INT	87911K100	385	19,531	SH		SOLE		19,128	0	403
TEMPLETON DRAGON FD INC	COM	88018T101	1,594	67,682	SH		SOLE		65,559	0	2,123
TEMPLETON EMERGING MKTS FD	COM	880191101	539	28,226	SH		SOLE		26,766	0	1,460
TEMPLETON EMERGING MKTS INCO	COM	880192109	1,536	208,388	SH		SOLE		206,581	0	1,807
TEMPLETON GLOBAL INCOME FD	COM	880198106	375	70,624	SH		SOLE		70,624	0	0
TORTOISE ESSENTIAL ASSETS IN	COM SH BEN INT	89148A103	1,834	127,877	SH		SOLE		127,877	0	0
TRI CONTL CORP	COM	895436103	4,012	123,697	SH		SOLE		123,697	0	0
VIRTUS ALLIANZGI ARTIFICIAL	COM	92838Y100	1,253	47,166	SH		SOLE		45,906	0	1,260
VIRTUS ALLIANZGI CONVERTIBLE	COM	92838U108	1,415	284,139	SH		SOLE		280,671	0	3,468
VIRTUS ALLIANZGI CONVERTIBLE	COM	92838X102	1,734	306,292	SH		SOLE		305,118	0	1,174
VIRTUS ALLIANZGI DIVERSIFIED	COM	92840N100	792	25,205	SH		SOLE		25,205	0	0
VIRTUS ALLIANZGI EQUITY & CO	COM	92841M101	1,109	39,596	SH		SOLE		39,596	0	0
VIRTUS DIVIDEND INTEREST & P	COM	92840R101	4,758	345,272	SH		SOLE		340,401	0	4,871
VIRTUS GLOBAL MULTI-SECTOR I	COM	92829B101	996	83,806	SH		SOLE		81,998	0	1,808
VOYA ASIA PAC HIGH DIV EQT I	COM	92912J102	1,147	123,355	SH		SOLE		122,539	0	816
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	706	88,291	SH		SOLE		88,291	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	430	44,922	SH		SOLE		44,922	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	100	17,500	SH		SOLE		17,500	0	0
VOYA PRIME RATE TR	SH BEN INT	92913A100	546	117,574	SH		SOLE		117,574	0	0
WELLS FARGO ADV MULTI SCTR I	COM	94987D101	1,660	132,815	SH		SOLE		127,978	0	4,837
WELLS FARGO ADVANTAGE INCOME	WF INC OPPTY FD	94987B105	3,124	370,093	SH		SOLE		359,163	0	10,930
WELLS FARGO GLOBAL DIVID OPP	COM	94987C103	1,378	261,908	SH		SOLE		261,517	0	391
WESTERN ASSET EMERGING MKTS	COM	95766A101	612	46,268	SH		SOLE		46,268	0	0
WESTERN ASSET GLOBAL CP DEFI	COM	95790C107	1,427	81,034	SH		SOLE		79,582	0	1,452
WESTERN ASSET HIGH INCOME OP	COM	95766K109	534	105,125	SH		SOLE		104,684	0	441
WESTERN ASSET INVESTMENT GRA	COM	95766T100	513	33,827	SH		SOLE		33,555	0	272