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	4,256	1,114,168	SH		SOLE		1,107,008	0	7,160
ABERDEEN AUSTRALIA EQUITY FD	COM	003011103	265	43,736	SH		SOLE		43,736	0	0
ABERDEEN EMRG MRKTS EQT INM	COM	00301W105	172	21,688	SH		SOLE		21,688	0	0
ABERDEEN GLOBAL DYNAMIC DIVI	COM	00302M106	2,903	240,129	SH		SOLE		240,129	0	0
ABERDEEN GLOBAL PREMIER PPTY	COM SH BEN INT	00302L108	254	37,066	SH		SOLE		37,066	0	0
ABERDEEN INCOME CR STRATEGIE	COM	003057106	987	96,939	SH		SOLE		95,865	0	1,074
ABERDEEN JAPAN EQUITY FD INC	COM	00306J109	120	14,700	SH		SOLE		14,700	0	0
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	485	47,503	SH		SOLE		47,503	0	0
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	3,945	203,246	SH		SOLE		201,259	0	1,987
ADOBE SYSTEMS INCORPORATED	COM	00724F101	227	400	SH		SOLE		400	0	0
ALLIANCEBERNSTEIN GLOBAL HIG	COM	01879R106	1,824	150,357	SH		SOLE		146,409	0	3,948
ALLSPRING GLOBAL DIVIDEND OP	COM	94987C103	294	49,895	SH		SOLE		49,895	0	0
ALLSPRING INCOME OPPORTUNIT	INC OPPTY FD	94987B105	1,571	171,459	SH		SOLE		171,459	0	0
ANGEL OAK FINL STRATEGIES IN	COM BEN INT	03464A100	3,241	189,976	SH		SOLE		184,693	0	5,283
APOLLO SR FLOATING RATE FD I	COM	037636107	859	53,349	SH		SOLE		52,108	0	1,241
APOLLO TACTICAL INCOME FD IN	COM	037638103	5,142	335,610	SH		SOLE		331,243	0	4,367
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	3,083	188,779	SH		SOLE		186,785	0	1,994
BANCROFT FD LTD	COM	059695106	966	36,561	SH		SOLE		36,561	0	0
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	4,044	233,217	SH		SOLE		228,591	0	4,626
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	1,599	129,600	SH		SOLE		127,615	0	1,985
BLACKROCK DEBT STRATEGIES FD	COM NEW	09255R202	539	46,066	SH		SOLE		44,721	0	1,345
BLACKROCK ENHANCD CAP & INM	COM	09256A109	5,016	226,746	SH		SOLE		226,343	0	403
BLACKROCK ENHANCED EQUITY DI	COM	09251A104	299	29,685	SH		SOLE		29,685	0	0
BLACKROCK ENHANCED GLOBAL DI	COM	092501105	1,229	100,865	SH		SOLE		100,865	0	0
BLACKROCK ENHANCED GOVT FD I	COM	09255K108	160	12,759	SH		SOLE		12,759	0	0
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	2,553	406,587	SH		SOLE		406,587	0	0
BLACKROCK FLOATING RATE INCO	COM	09255X100	2,078	154,753	SH		SOLE		154,057	0	696
BLACKROCK GLOBAL FLOATING RA	COM	091941104	636	45,431	SH		SOLE		45,414	0	17
BLACKROCK INNOVATION AND GRW	SHS BEN INT	09260Q108	683	47,000	SH		SOLE		47,000	0	0
BLACKROCK SCIENCE & TECHNOLO	SHS	09258G104	363	7,258	SH		SOLE		7,258	0	0
BLACKSTONE LONG SHORT CR INC	COM SHS BN INT	09257D102	1,463	99,499	SH		SOLE		97,137	0	2,362
BLACKSTONE STRATEGIC CREDIT	COM SHS BEN IN	09257R101	3,743	277,478	SH		SOLE		275,133	0	2,345
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	1,884	615,614	SH		SOLE		601,306	0	14,308
BOULDER GROWTH & INCOME FD I	COM	101507101	4,788	336,936	SH		SOLE		334,024	0	2,912
CALAMOS GBL DYN INCOME FUND	COM	12811L107	310	31,052	SH		SOLE		29,364	0	1,688
CALAMOS GLOBAL TOTAL RETURN	COM SH BEN INT	128118106	238	15,507	SH		SOLE		15,507	0	0
CALAMOS LNG SHR EQT DYNAMIC	COM	12812C106	1,079	55,373	SH		SOLE		53,004	0	2,369
CALAMOS STRATEGIC TOTAL RETU	COM SH BEN INT	128125101	309	16,011	SH		SOLE		16,011	0	0
CBRE GBL REAL ESTATE INC FD	COM	12504G100	692	70,690	SH		SOLE		69,456	0	1,234
CENTRAL & EASTERN EUROPE FD	COM	153436100	400	15,163	SH		SOLE		15,163	0	0
CENTRAL SECS CORP	COM	155123102	3,163	70,955	SH		SOLE		70,572	0	383
CHINA FD INC	COM	169373107	717	39,226	SH		SOLE		39,226	0	0
CLOUGH GLOBAL DIVID & INCOME	COM	18913Y103	1,419	132,366	SH		SOLE		132,366	0	0
CLOUGH GLOBAL EQUITY FD	COM	18914C100	963	73,302	SH		SOLE		73,302	0	0
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	2,601	244,473	SH		SOLE		242,181	0	2,292
COHEN & STEERS TAX ADVAN PFD	COM	19249X108	493	20,500	SH		SOLE		20,500	0	0
CREDIT SUISSE ASSET MGMT INC	COM	224916106	274	79,823	SH		SOLE		79,823	0	0
CREDIT SUISSE HIGH YIELD BD	SH BEN INT	22544F103	723	292,686	SH		SOLE		279,769	0	12,917
DELAWARE ENHANCED GLOBAL DIV	COM	246060107	2,474	243,714	SH		SOLE		243,714	0	0
DELAWARE INVTS DIVID & INCOM	COM	245915103	1,348	115,226	SH		SOLE		114,531	0	695
DOUBLELINE INCOME SOLUTIONS	COM	258622109	5,075	314,828	SH		SOLE		310,096	0	4,732
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	854	44,541	SH		SOLE		43,991	0	550
DOUBLELINE YIELD OPPORTUNITI	COM	25862D105	1,781	95,247	SH		SOLE		92,726	0	2,521
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	1,304	193,457	SH		SOLE		189,657	0	3,800
EATON VANCE TAX ADVT DIV INC	COM	27828G107	553	18,550	SH		SOLE		18,524	0	26
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	452	42,389	SH		SOLE		42,389	0	0
EATON VANCE TX ADV GLBL DIV	COM	27828S101	4,520	198,844	SH		SOLE		197,248	0	1,596
ELLSWORTH GROWTH & INCOME FD	COM	289074106	418	33,789	SH		SOLE		33,789	0	0
EUROPEAN EQUITY FD INC	COM	298768102	1,999	192,773	SH		SOLE		191,893	0	880
FIRST TR DYNAMIC EUROPE EQUI	COM SHS	33740d107	1,974	148,629	SH		SOLE		148,629	0	0
FIRST TR ENERGY INFRASTRCTR	COM	33738C103	485	35,853	SH		SOLE		33,187	0	2,666
FIRST TR ENHANCED EQUITY INC	COM	337318109	2,254	105,859	SH		SOLE		105,748	0	111
FIRST TR HIGH INCOME LONG /	COM	33738E109	1,149	73,704	SH		SOLE		73,704	0	0
FIRST TR SPECIALTY FIN & FIN	COM BEN INTR	33733G109	354	86,527	SH		SOLE		76,511	0	10,016
FIRST TR SR FLTG RATE INCOME	COM	33733U108	1,556	129,012	SH		SOLE		127,439	0	1,573
FRANKLIN LTD DURATION INCOME	COM	35472T101	708	77,865	SH		SOLE		76,049	0	1,816
FRANKLIN UNVL TR	SH BEN INT	355145103	2,241	264,873	SH		SOLE		259,345	0	5,528
GABELLI CONV & INC SECS FD I	COM	36240B109	140	20,355	SH		SOLE		17,854	0	2,501
GABELLI DIVID & INCOME TR	COM	36242H104	9,929	367,756	SH		SOLE		364,891	0	2,865
GABELLI EQUITY TR INC	COM	362397101	439	61,098	SH		SOLE		61,098	0	0
GABELLI GLOBAL SMALL & MID C	COM	36249W104	381	23,963	SH		SOLE		23,048	0	915
GENERAL AMERN INVS CO INC	COM	368802104	4,850	109,736	SH		SOLE		108,795	0	941
HANCOCK JOHN INVT TR	TAX ADV GLB SH	41013P749	945	145,632	SH		SOLE		145,632	0	0
HERZFELD CARIBBEAN BASIN FD	COM	42804T106	168	30,299	SH		SOLE		30,299	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	2,123	234,076	SH		SOLE		232,940	0	1,136
INVESCO HIGH INCOME TR II	COM	46131F101	1,263	87,962	SH		SOLE		85,124	0	2,838
INVESCO SR INCOME TR	COM	46131H107	475	109,600	SH		SOLE		109,600	0	0
JAPAN SMALLER CAPITALIZATION	COM	47109U104	321	40,727	SH		SOLE		40,727	0	0
JOHN HANCOCK HEDGED EQUITY &	COM	47804L102	2,589	199,186	SH		SOLE		198,646	0	540
KKR INCOME OPPORTUNITIES FD	COM	48249T106	1,882	111,233	SH		SOLE		109,963	0	1,270
KOREA FD INC	COM NEW	500634209	202	5,877	SH		SOLE		5,877	0	0
LAZARD GLOBAL TOTAL RETURN &	COM	52106W103	1,953	96,645	SH		SOLE		96,146	0	499
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	2,034	242,702	SH		SOLE		242,664	0	38
LIBERTY ALL-STAR GROWTH FD I	COM	529900102	1,495	166,130	SH		SOLE		165,891	0	239
LMP CAP & INCOME FD INC	COM	50208A102	2,386	156,987	SH		SOLE		156,987	0	0
MACQUARIE / FIRST TR GLOBAL	COM	55607W100	539	55,830	SH		SOLE		55,830	0	0
MAINSTAY CBRE GBL INFRSTR ME	COM	56064Q107	353	18,300	SH		SOLE		18,300	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	122	14,300	SH		SOLE		14,300	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	847	41,487	SH		SOLE		41,487	0	0
MORGAN STANLEY EMERGING MKTS	COM	617477104	875	159,760	SH		SOLE		152,601	0	7,159
NEUBERGER BERMAN HIGH YIELD	COM	64128C106	270	21,700	SH		SOLE		18,705	0	2,995
NEUBERGER BERMAN NEXT GENERA	COMMON STOCK	64133Q108	657	38,000	SH		SOLE		36,242	0	1,758
NEUBERGER BERMAN REAL ESTATE	COM	64190A103	339	64,365	SH		SOLE		64,365	0	0
NEW GERMANY FD INC	COM	644465106	2,934	198,109	SH		SOLE		197,393	0	716
NEW IRELAND FD INC	COM	645673104	894	80,115	SH		SOLE		79,213	0	902
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	979	52,714	SH		SOLE		52,714	0	0
NUVEEN CORE PLUS IMPACT FUND	COM BEN INT	67080D103	500	27,303	SH		SOLE		24,556	0	2,747
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	2,517	387,850	SH		SOLE		382,539	0	5,311
NUVEEN DOW 30 DYNMC OVERWRT	SHS	67075F105	7,424	417,799	SH		SOLE		416,333	0	1,466
NUVEEN EMERGING MKTS DEBT 20	COM	67077P101	1,216	160,590	SH		SOLE		160,590	0	0
NUVEEN FLOATING RATE INCOME	COM	67072T108	2,102	206,650	SH		SOLE		205,591	0	1,059
NUVEEN FLOATING RATE INCOME	COM SHS	6706EN100	2,037	201,076	SH		SOLE		198,245	0	2,831
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	1,277	80,434	SH		SOLE		80,434	0	0
NUVEEN MORTGAGE AND INCOME F	COM	670735109	244	11,628	SH		SOLE		10,215	0	1,413
NUVEEN MULTI ASSET INCOME FU	COM	670750108	1,584	84,942	SH		SOLE		84,692	0	250
NUVEEN MULTI-MKT INCOME FD	COM	67075J107	78	10,349	SH		SOLE		10,349	0	0
NUVEEN NASDAQ 100 DYNAMIC OV	COM SHS	670699107	2,334	76,139	SH		SOLE		75,259	0	880
NUVEEN PFD & INCM SECURTIES	COM	67072C105	3,142	323,298	SH		SOLE		319,853	0	3,445
NUVEEN PFD & INCOME 2022 TER	COM	67075T105	306	12,450	SH		SOLE		12,450	0	0
NUVEEN PFD & INCOME OPPORTUN	COM	67073B106	3,608	369,687	SH		SOLE		369,350	0	337
NUVEEN REAL ASSET INCOME & G	COM	67074Y105	1,191	73,862	SH		SOLE		73,862	0	0
NUVEEN REAL ESTATE INCOME FD	COM	67071B108	380	29,615	SH		SOLE		27,826	0	1,789
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	5,010	342,005	SH		SOLE		339,940	0	2,065
NUVEEN S&P 500 DYNAMIC OVERW	COM	6706EW100	4,511	242,503	SH		SOLE		239,032	0	3,471
NUVEEN SHORT DURATION CR OPP	COM	67074X107	1,601	108,042	SH		SOLE		105,976	0	2,066
NUVEEN SR INCOME FD	COM	67067Y104	3,404	576,916	SH		SOLE		566,454	0	10,462
PGIM GLOBAL HIGH YIELD FD FO	COM	69346J106	2,834	187,809	SH		SOLE		181,404	0	6,405
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	2,158	134,445	SH		SOLE		134,445	0	0
PGIM SHORT DUR HIG YLD OPP F	COM	69355J104	474	25,700	SH		SOLE		25,700	0	0
PIONEER DIVERSIFIED HIGH INC	COM	723653101	421	27,488	SH		SOLE		27,488	0	0
PIONEER FLOATING RATE FUND I	COM	72369J102	632	54,470	SH		SOLE		53,124	0	1,346
PIONEER HIGH INCOME FUND INC	COM	72369H106	832	85,734	SH		SOLE		83,469	0	2,265
PRINCIPAL REAL ESTATE INCOME	SHS BEN INT	74255X104	787	49,871	SH		SOLE		49,871	0	0
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	1,792	453,789	SH		SOLE		449,030	0	4,759
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	3,036	710,940	SH		SOLE		708,582	0	2,358
RIVERNORTH OPPORTUNITIES FD	COM	76881y109	853	53,473	SH		SOLE		52,281	0	1,192
RIVERNORTH SPECIALTY FIN COR	COM	76882B108	1,199	62,470	SH		SOLE		62,470	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	269	20,469	SH		SOLE		20,469	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	4,736	410,078	SH		SOLE		405,379	0	4,699
ROYCE VALUE TR INC	COM	780910105	1,792	91,480	SH		SOLE		89,024	0	2,456
SABA CAPITAL INCOME & OPRNT	SHARES	78518H103	848	187,593	SH		SOLE		187,593	0	0
SOURCE CAP INC	COM	836144105	6,627	153,371	SH		SOLE		153,136	0	235
SPDR S&P 500 ETF TR	TR UNIT	78462F103	18,310	38,550	SH		SOLE		38,044	0	506
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	162	10,457	SH		SOLE		10,457	0	0
SPROTT FOCUS TR INC	COM	85208J109	1,340	155,762	SH		SOLE		153,852	0	1,910
SWISS HELVETIA FD INC	COM	870875101	1,714	172,410	SH		SOLE		169,542	0	2,868
TAIWAN FD INC	COM	874036106	886	23,574	SH		SOLE		23,574	0	0
TEMPLETON DRAGON FD INC	COM	88018T101	831	48,867	SH		SOLE		48,867	0	0
TEMPLETON EMERGING MKTS FD	COM	880191101	165	10,276	SH		SOLE		10,276	0	0
TEMPLETON EMERGING MKTS INCO	COM	880192109	299	41,051	SH		SOLE		41,051	0	0
TEMPLETON GLOBAL INCOME FD	COM	880198106	1,363	262,644	SH		SOLE		249,774	0	12,870
THORNBURG INCM BUILDER OPP T	COM	885213108	896	48,000	SH		SOLE		48,000	0	0
TRI CONTL CORP	COM	895436103	3,758	113,218	SH		SOLE		113,218	0	0
VIRTUS ALLIANZGI CONVERTIBLE	COM	92838U108	676	132,511	SH		SOLE		129,856	0	2,655
VIRTUS ALLIANZGI CONVERTIBLE	COM	92838X102	424	72,719	SH		SOLE		72,719	0	0
VIRTUS ALLIANZGI EQUITY & CO	COM	92841M101	4,122	136,748	SH		SOLE		135,640	0	1,108
VIRTUS DIVIDEND INTEREST & P	COM	92840R101	8,696	541,477	SH		SOLE		535,591	0	5,886
VIRTUS GLOBAL MULTI-SECTOR I	COM	92829B101	2,876	257,670	SH		SOLE		253,214	0	4,456
VOYA ASIA PAC HIGH DIV EQT I	COM	92912J102	1,002	123,494	SH		SOLE		122,678	0	816
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	490	68,990	SH		SOLE		68,990	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	1,188	114,539	SH		SOLE		113,641	0	898
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	352	56,763	SH		SOLE		53,817	0	2,946
VOYA INFRASTRUCTURE INDLS &	COM	92912X101	239	19,783	SH		SOLE		19,783	0	0
WESTERN ASSET DIVERSIFIED IN	COM SHS BEN INT	95790K109	1,798	98,200	SH		SOLE		98,200	0	0
WESTERN ASSET EMERGING MKTS	COM	95766A101	2,190	171,107	SH		SOLE		167,688	0	3,419
WESTERN ASSET GBL HIGH INC F	COM	95766B109	2,570	254,248	SH		SOLE		251,939	0	2,309
WESTERN ASSET GLOBAL CORP DE	COM	95790C107	484	27,667	SH		SOLE		26,215	0	1,452
WESTERN ASSET HIGH INCOME FD	COM	95766J102	1,657	231,361	SH		SOLE		231,361	0	0
WESTERN ASSET HIGH INCOME OP	COM	95766K109	986	189,706	SH		SOLE		189,265	0	441
WESTERN ASSET HIGH YIELD DEF	COM	95768B107	820	52,013	SH		SOLE		51,358	0	655
WESTERN ASSET MTG DEFINED OP	COM	95790B109	176	11,583	SH		SOLE		11,583	0	0