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

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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 GLOBAL DYNAMIC DIVI	COM	00302M106	3,497	373,263	SH		SOLE		372,215	0	1,048
ABERDEEN TOTAL DYNAMIC DIVD	COM SH BEN INT	00326L100	1,234	152,709	SH		SOLE		151,525	0	1,184
ABRDN ASIA PACIFIC INCOME FU	COM	003009107	234	80,304	SH		SOLE		70,806	0	9,498
ABRDN AUSTRALIA EQUITY FD IN	COM	003011103	130	28,173	SH		SOLE		28,173	0	0
ABRDN EMRG MKTS EQTY INCM FD	COM	00301W105	120	21,688	SH		SOLE		21,688	0	0
ABRDN JAPAN EQUITY FUND INC	COM	00306J109	197	35,451	SH		SOLE		35,451	0	0
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	6,608	430,758	SH		SOLE		426,039	0	4,719
ALLSPRING GLOBAL DIVIDEND OP	COM	94987C103	270	61,953	SH		SOLE		61,953	0	0
ALLSPRING INCOME OPPORTUNIT	INC OPPTY FD	94987B105	1,401	215,932	SH		SOLE		215,932	0	0
ALLSPRING MULTI SECTOR INCOM	COM	94987D101	842	87,969	SH		SOLE		87,969	0	0
APOLLO SR FLOATING RATE FD I	COM	037636107	1,389	108,267	SH		SOLE		107,087	0	1,180
APOLLO TACTICAL INCOME FD IN	COM	037638103	3,657	303,763	SH		SOLE		297,704	0	6,059
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	2,674	219,169	SH		SOLE		218,102	0	1,067
BANCROFT FD LTD	COM	059695106	586	32,435	SH		SOLE		32,435	0	0
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	2,938	225,846	SH		SOLE		223,525	0	2,321
BLACKROCK DEBT STRATEGIES FD	COM NEW	09255R202	3,550	388,409	SH		SOLE		380,922	0	7,487
BLACKROCK ENHANCD CAP & INM	COM	09256A109	4,927	280,261	SH		SOLE		277,806	0	2,455
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	1,506	297,576	SH		SOLE		297,576	0	0
BLACKROCK ESG CAP ALLC TR	SHS BEN INT	09262F100	680	47,522	SH		SOLE		46,990	0	532
BLACKROCK FLOATING RATE INC	COM	091941104	1,272	115,392	SH		SOLE		115,392	0	0
BLACKROCK FLOATING RATE INCO	COM	09255X100	1,155	101,381	SH		SOLE		100,396	0	985
BLACKROCK LTD DURATION INCOM	COM SHS	09249W101	336	26,528	SH		SOLE		25,866	0	662
BLACKROCK MULTI SECTOR INC T	COM	09258A107	1,130	79,512	SH		SOLE		78,329	0	1,183
BLACKSTONE LONG SHORT CR INC	COM SHS BN INT	09257D102	2,019	175,554	SH		SOLE		172,142	0	3,412
BLACKSTONE SENIOR FLOATNG RA	COM	09256U105	706	53,062	SH		SOLE		50,785	0	2,277
BLACKSTONE STRATEGIC CREDIT	COM SHS BEN IN	09257R101	2,890	258,731	SH		SOLE		256,376	0	2,355
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	1,641	722,786	SH		SOLE		719,851	0	2,935
CALAMOS LNG SHR EQT DYNAMIC	COM	12812C106	3,466	210,034	SH		SOLE		207,994	0	2,040
CALAMOS STRATEGIC TOTAL RETU	COM SH BEN INT	128125101	5,650	430,977	SH		SOLE		426,954	0	4,023
CENTRAL & EASTERN EUROPE FD	COM	153436100	151	15,117	SH		SOLE		15,117	0	0
CENTRAL SECS CORP	COM	155123102	2,052	58,289	SH		SOLE		57,769	0	520
CHINA FD INC	COM	169373107	584	37,586	SH		SOLE		37,586	0	0
CLOUGH GLOBAL DIVID & INCOME	COM	18913Y103	522	64,157	SH		SOLE		61,913	0	2,244
COHEN & STEERS LTD DURATION	COM	19248C105	322	16,264	SH		SOLE		16,264	0	0
COLUMBIA SELIGM PREM TECH GR	COM	19842X109	308	12,271	SH		SOLE		11,991	0	280
CREDIT SUISSE ASSET MGMT INC	COM	224916106	143	52,477	SH		SOLE		52,477	0	0
CREDIT SUISSE HIGH YIELD BD	SH BEN INT	22544F103	789	417,721	SH		SOLE		404,037	0	13,684
DELAWARE INVTS DIVID & INCOM	COM	245915103	426	50,189	SH		SOLE		50,189	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	1,432	118,031	SH		SOLE		115,491	0	2,540
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	168	10,761	SH		SOLE		10,761	0	0
DOUBLELINE YIELD OPPORTUNITI	COM	25862D105	734	51,177	SH		SOLE		50,320	0	857
EATON VANCE ENHANCED EQUITY	COM	278274105	1,210	81,948	SH		SOLE		79,086	0	2,862
EATON VANCE ENHANCED EQUITY	COM	278277108	1,441	89,004	SH		SOLE		88,942	0	62
EATON VANCE FLTING RATE INC	COM	278279104	1,966	166,876	SH		SOLE		162,217	0	4,659
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	1,677	136,683	SH		SOLE		132,515	0	4,168
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	1,283	235,047	SH		SOLE		226,571	0	8,476
EATON VANCE TAX-ADVANTAGED G	COM	27828U106	437	19,768	SH		SOLE		19,639	0	129
EATON VANCE TAX-MANAGED DIVE	COM	27828N102	712	62,802	SH		SOLE		62,802	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	4,032	523,008	SH		SOLE		516,765	0	6,243
EATON VANCE TAX-MANAGED GLOB	COM	27829C105	2,464	296,560	SH		SOLE		292,335	0	4,225
EATON VANCE TX ADV GLBL DIV	COM	27828S101	5,080	315,325	SH		SOLE		313,397	0	1,928
ELLSWORTH GROWTH & INCOME FD	COM	289074106	266	31,210	SH		SOLE		30,006	0	1,204
EUROPEAN EQUITY FD INC	COM	298768102	1,850	259,156	SH		SOLE		259,156	0	0
FIRST TR ENERGY INFRASTRCTR	COM	33738C103	513	35,853	SH		SOLE		33,187	0	2,666
FIRST TR ENHANCED EQUITY INC	COM	337318109	4,015	245,717	SH		SOLE		244,514	0	1,203
FIRST TR HIGH INCOME LONG /	COM	33738E109	1,596	139,989	SH		SOLE		134,888	0	5,101
FIRST TR HIGH YIELD OPPRT 20	COM	33741Q107	279	19,179	SH		SOLE		19,179	0	0
FIRST TR SPECIALTY FIN & FIN	COM BEN INTR	33733G109	343	107,564	SH		SOLE		104,122	0	3,442
FIRST TR SR FLTG RATE INCOME	COM	33733U108	256	25,642	SH		SOLE		25,642	0	0
FRANKLIN LTD DURATION INCOME	COM	35472T101	277	41,000	SH		SOLE		39,183	0	1,817
GABELLI DIVID & INCOME TR	COM	36242H104	9,325	455,968	SH		SOLE		453,931	0	2,037
GABELLI GLOBAL SMALL & MID C	COM	36249W104	153	13,898	SH		SOLE		13,898	0	0
GENERAL AMERN INVS CO INC	COM	368802104	5,383	152,248	SH		SOLE		151,206	0	1,042
HANCOCK JOHN INVT TR	TAX ADV GLB SH	41013P749	112	20,803	SH		SOLE		20,803	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	3,757	388,530	SH		SOLE		388,132	0	398
INVESCO HIGH INCOME TR II	COM	46131F101	1,163	111,322	SH		SOLE		108,484	0	2,838
INVESCO SR INCOME TR	COM	46131H107	111	28,435	SH		SOLE		28,435	0	0
JAPAN SMALLER CAPITALIZATION	COM	47109U104	357	56,523	SH		SOLE		56,523	0	0
JOHN HANCOCK HEDGED EQUITY &	COM	47804L102	611	51,927	SH		SOLE		51,535	0	392
KKR INCOME OPPORTUNITIES FD	COM	48249T106	2,249	193,194	SH		SOLE		191,147	0	2,047
KOREA FD INC	COM NEW	500634209	269	11,069	SH		SOLE		11,069	0	0
LMP CAP & INCOME FD INC	COM	50208A102	418	33,928	SH		SOLE		33,928	0	0
MADISON COVERED CALL & EQUIT	COM	557437100	466	68,708	SH		SOLE		68,708	0	0
MAINSTAY CBRE GBL INFRSTR ME	COM	56064Q107	274	17,234	SH		SOLE		17,234	0	0
MEXICO EQUITY & INCOME FD	COM	592834105	133	16,525	SH		SOLE		16,525	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	718	113,949	SH		SOLE		113,817	0	132
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	771	169,090	SH		SOLE		169,090	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	692	40,884	SH		SOLE		40,884	0	0
NEUBERGER BERMAN HIGH YIELD	COM	64128C106	442	52,782	SH		SOLE		52,782	0	0
NEUBERGER BERMAN NEXT GENERA	COMMON STOCK	64133Q108	529	53,298	SH		SOLE		49,506	0	3,792
NEW GERMANY FD INC	COM	644465106	1,659	196,628	SH		SOLE		195,912	0	716
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	3,604	269,971	SH		SOLE		269,193	0	778
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	1,711	328,967	SH		SOLE		323,380	0	5,587
NUVEEN DOW 30 DYNMC OVERWRT	SHS	67075F105	4,324	282,988	SH		SOLE		282,802	0	186
NUVEEN EMERGING MKTS DEBT 20	COM	67077P101	951	142,192	SH		SOLE		142,192	0	0
NUVEEN FLOATING RATE INCOME	COM	67072T108	1,619	194,113	SH		SOLE		194,113	0	0
NUVEEN FLOATING RATE INCOME	COM SHS	6706EN100	519	63,563	SH		SOLE		63,563	0	0
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	119	10,251	SH		SOLE		10,251	0	0
NUVEEN MULTI ASSET INCOME FU	COM	670750108	1,130	85,617	SH		SOLE		85,617	0	0
NUVEEN PFD & INCM SECURTIES	COM	67072C105	1,508	207,686	SH		SOLE		205,657	0	2,029
NUVEEN PFD & INCOME OPPORTUN	COM	67073B106	108	14,160	SH		SOLE		14,160	0	0
NUVEEN REAL ASSET INCOME & G	COM	67074Y105	1,155	88,357	SH		SOLE		88,357	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	3,115	251,782	SH		SOLE		246,335	0	5,447
NUVEEN SHORT DURATION CR OPP	COM	67074X107	1,483	123,252	SH		SOLE		120,762	0	2,490
NUVEEN SR INCOME FD	COM	67067Y104	2,471	515,853	SH		SOLE		505,391	0	10,462
PGIM GLOBAL HIGH YIELD FD FO	COM	69346J106	241	21,040	SH		SOLE		21,040	0	0
PGIM SHORT DUR HIG YLD OPP F	COM	69355J104	250	16,800	SH		SOLE		16,800	0	0
PIMCO DYNAMIC INCOME OPRNTS	COM BEN SHS	69355M107	2,317	167,305	SH		SOLE		164,026	0	3,279
PIONEER DIVERSIFIED HIGH INC	COM	723653101	1,391	128,296	SH		SOLE		127,140	0	1,156
PIONEER FLOATING RATE FUND I	COM	72369J102	1,589	178,925	SH		SOLE		174,400	0	4,525
PIONEER HIGH INCOME FUND INC	COM	72369H106	1,742	246,709	SH		SOLE		244,444	0	2,265
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	632	185,323	SH		SOLE		185,323	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	243	64,028	SH		SOLE		64,028	0	0
RIVERNORTH DOUBLELINE STRATE	COM	76882G107	187	17,175	SH		SOLE		17,175	0	0
ROYCE GLOBAL VALUE TR INC	COM	78081T104	327	36,666	SH		SOLE		35,526	0	1,140
ROYCE MICRO-CAP TR INC	COM	780915104	4,557	545,147	SH		SOLE		538,144	0	7,003
SOURCE CAP INC	COM	836144105	3,392	90,864	SH		SOLE		90,657	0	207
SPROTT FOCUS TR INC	COM	85208J109	3,435	454,316	SH		SOLE		450,506	0	3,810
SRH TOTAL RETURN FUND INC	COM	101507101	2,723	227,881	SH		SOLE		224,793	0	3,088
SWISS HELVETIA FD INC	COM	870875101	1,042	132,548	SH		SOLE		129,680	0	2,868
TAIWAN FD INC	COM	874036106	852	33,921	SH		SOLE		33,543	0	378
TEKLA HEALTHCARE OPPORTUNITI	SHS	879105104	695	34,868	SH		SOLE		34,868	0	0
TEKLA LIFE SCIENCES INVS	SH BEN INT	87911K100	809	56,867	SH		SOLE		55,250	0	1,617
TEMPLETON DRAGON FD INC	COM	88018T101	758	53,186	SH		SOLE		53,186	0	0
TEMPLETON EMERGING MKTS FD	COM	880191101	218	18,212	SH		SOLE		18,212	0	0
TEMPLETON EMERGING MKTS INCO	COM	880192109	407	75,434	SH		SOLE		75,434	0	0
TEMPLETON GLOBAL INCOME FD	COM	880198106	1,177	266,975	SH		SOLE		259,358	0	7,617
THORNBURG INCM BUILDER OPP T	COM	885213108	372	25,618	SH		SOLE		25,618	0	0
TRI CONTL CORP	COM	895436103	6,457	246,752	SH		SOLE		245,921	0	831
VIRTUS ARTIFICIAL INTELLIGEN	COM	92838Y100	523	32,315	SH		SOLE		32,315	0	0
VIRTUS CONVERTIBLE & INC FD	COM	92838U108	1,187	375,667	SH		SOLE		375,344	0	323
VIRTUS DIVIDEND INTEREST & P	COM	92840R101	6,846	593,273	SH		SOLE		591,185	0	2,088
VIRTUS EQUITY & CONV INCM FD	COM	92841M101	2,901	139,813	SH		SOLE		137,879	0	1,934
VIRTUS GLOBAL MULTI-SECTOR I	COM	92829B101	3,055	369,867	SH		SOLE		361,473	0	8,394
VOYA ASIA PAC HIGH DIV EQT I	COM	92912J102	1,215	174,635	SH		SOLE		170,070	0	4,565
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	397	68,904	SH		SOLE		68,904	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	2,175	238,778	SH		SOLE		238,364	0	414
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	203	36,822	SH		SOLE		36,822	0	0
VOYA INFRASTRUCTURE INDLS &	COM	92912X101	276	28,286	SH		SOLE		28,286	0	0
WESTERN ASSET GBL HIGH INC F	COM	95766B109	1,928	273,446	SH		SOLE		272,268	0	1,178
WESTERN ASSET HIGH INCOME OP	COM	95766K109	1,467	370,372	SH		SOLE		369,931	0	441
WESTERN ASST INFLTN LKD INM	COM SH BEN INT	95766Q106	157	16,100	SH		SOLE		16,100	0	0