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
ABRDN AUSTRALIA EQUITY FD IN	COM	003011103	239,668	54,594	SH		SOLE		54,594	0	0
ABRDN EMRG MKTS EQTY INCM FD	COM	00301W105	233,654	43,592	SH		SOLE		43,592	0	0
ABRDN GLOBAL DYNAMIC DIVIDEN	COM	00302M106	2,720,171	291,551	SH		SOLE		290,331	0	1,220
ABRDN JAPAN EQUITY FUND INC	COM	00306J109	363,608	66,473	SH		SOLE		66,473	0	0
ABRDN TOTAL DYNAMIC DIVIDEND	COM SH BEN INT	00326L100	1,500,764	185,738	SH		SOLE		185,738	0	0
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	4,056,047	260,839	SH		SOLE		258,716	0	2,123
ADVENT CONV & INCOME FD	COM	00764C109	964,336	83,420	SH		SOLE		82,873	0	547
ALLSPRING GLOBAL DIVIDEND OP	COM	94987C103	687,144	152,498	SH		SOLE		152,498	0	0
ALLSPRING INCOME OPPORTUNIT	INC OPPTY FD	94987B105	3,215,470	505,148	SH		SOLE		505,148	0	0
ALLSPRING MULTI SECTOR INCOM	COM	94987D101	260,867	28,510	SH		SOLE		28,510	0	0
ANGEL OAK FINL STRATEGIES IN	COM BEN INT	03464A100	615,391	49,910	SH		SOLE		49,910	0	0
APOLLO TACTICAL INCOME FD IN	COM	037638103	1,903,107	157,022	SH		SOLE		154,286	0	2,736
ARES DYNAMIC CR ALLOCATION F	COM	04014F102	410,452	34,290	SH		SOLE		34,290	0	0
BANCROFT FD LTD	COM	059695106	1,857,143	109,308	SH		SOLE		108,549	0	759
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	1,355,475	104,240	SH		SOLE		103,246	0	994
BLACKROCK CORPOR HI YLD FD I	COM	09255P107	2,324,691	266,593	SH		SOLE		266,593	0	0
BLACKROCK DEBT STRATEGIES FD	COM NEW	09255R202	4,174,415	438,950	SH		SOLE		437,635	0	1,315
BLACKROCK ENHANCED EQUITY DI	COM	09251A104	749,469	87,249	SH		SOLE		87,249	0	0
BLACKROCK ENHANCED GLOBAL DI	COM	092501105	269,908	27,181	SH		SOLE		27,181	0	0
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	1,196,106	221,501	SH		SOLE		221,501	0	0
BLACKROCK FLOATING RATE INC	COM	091941104	1,780,227	158,807	SH		SOLE		158,437	0	370
BLACKROCK FLOATING RATE INCO	COM	09255X100	1,303,895	111,444	SH		SOLE		109,361	0	2,083
BLACKSTONE LONG SHORT CR INC	COM SHS BN INT	09257D102	2,165,210	198,461	SH		SOLE		197,952	0	509
BLACKSTONE SENI FLTN RAT 202	COM	09256U105	866,945	68,398	SH		SOLE		66,924	0	1,474
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	1,288,187	589,612	SH		SOLE		589,612	0	0
BRANDYWINEGBL GBL INCM OPP F	COM	10537L104	507,733	63,167	SH		SOLE		63,167	0	0
CALAMOS GBL DYN INCOME FUND	COM	12811L107	2,767,891	462,858	SH		SOLE		461,400	0	1,458
CALAMOS GLOBAL TOTAL RETURN	COM SH BEN INT	128118106	275,966	29,358	SH		SOLE		29,358	0	0
CALAMOS LNG SHR EQT DYNAMIC	COM	12812C106	2,966,138	191,983	SH		SOLE		189,943	0	2,040
CALAMOS STRATEGIC TOTAL RETU	COM SH BEN INT	128125101	611,702	43,693	SH		SOLE		43,693	0	0
CENTRAL SECS CORP	COM	155123102	5,827,978	167,552	SH		SOLE		166,989	0	563
CHINA FD INC	COM	169373107	542,267	42,398	SH		SOLE		42,398	0	0
CLOUGH GLOBAL DIVID & INCOME	COM	18913Y103	449,286	77,731	SH		SOLE		77,731	0	0
CLOUGH GLOBAL EQUITY FD	COM	18914C100	499,775	82,471	SH		SOLE		82,471	0	0
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	2,004,255	409,868	SH		SOLE		407,166	0	2,702
COHEN & STEERS LTD DURATION	COM	19248C105	1,268,942	71,129	SH		SOLE		71,129	0	0
CREDIT SUISSE ASSET MGMT INC	COM	224916106	974,547	379,201	SH		SOLE		379,201	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	1,462,842	128,658	SH		SOLE		128,658	0	0
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	985,199	69,478	SH		SOLE		69,478	0	0
EATON VANCE ENHANCED EQUITY	COM	278274105	563,749	37,040	SH		SOLE		36,464	0	576
EATON VANCE ENHANCED EQUITY	COM	278277108	2,394,974	146,035	SH		SOLE		146,035	0	0
EATON VANCE FLTING RATE INC	COM	278279104	2,106,860	183,046	SH		SOLE		180,947	0	2,099
EATON VANCE LTD DURATION INC	COM	27828H105	547,926	55,627	SH		SOLE		55,627	0	0
EATON VANCE RISK-MANAGED DIV	COM	27829G106	1,927,820	242,493	SH		SOLE		242,493	0	0
EATON VANCE SR FLTNG RTE TR	COM	27828Q105	3,024,232	266,923	SH		SOLE		265,750	0	1,173
EATON VANCE SR INCOME TR	SH BEN INT	27826S103	89,511	16,731	SH		SOLE		16,731	0	0
EATON VANCE TAX ADVT DIV INC	COM	27828G107	2,765,656	122,320	SH		SOLE		122,314	0	6
EATON VANCE TAX MNGED BUY WR	COM	27828X100	1,720,591	131,846	SH		SOLE		131,622	0	224
EATON VANCE TAX-MANAGED GLOB	COM	27829C105	4,416,787	546,632	SH		SOLE		546,632	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	3,926,119	502,704	SH		SOLE		500,730	0	1,974
EATON VANCE TX ADV GLBL DIV	COM	27828S101	5,431,326	336,305	SH		SOLE		335,688	0	617
ECOFIN SUSTAINABLE AND SOCIA	COM SH BEN INT	27901F109	887,006	68,389	SH		SOLE		68,389	0	0
ELLSWORTH GROWTH & INCOME FD	COM	289074106	298,303	36,782	SH		SOLE		36,782	0	0
EUROPEAN EQUITY FD INC	COM	298768102	2,212,516	261,954	SH		SOLE		261,954	0	0
FIRST TR DYNAMIC EUROPE EQUI	COM SHS	33740D107	256,762	20,154	SH		SOLE		20,154	0	0
FIRST TR ENERGY INFRASTRCTR	COM	33738C103	167,348	11,670	SH		SOLE		11,670	0	0
FIRST TR ENHANCED EQUITY INC	COM	337318109	5,826,720	352,707	SH		SOLE		350,674	0	2,033
FIRST TR HIGH INCOME LONG /	COM	33738E109	1,828,565	161,107	SH		SOLE		161,107	0	0
FIRST TR HIGH YIELD OPPRT 20	COM	33741Q107	2,112,651	151,336	SH		SOLE		149,274	0	2,062
FIRST TR INTER DURATN PFD &	COM	33718W103	1,478,318	93,683	SH		SOLE		93,336	0	347
FIRST TR SPECIALTY FIN & FIN	COM BEN INTR	33733G109	830,367	264,448	SH		SOLE		264,448	0	0
FIRST TR SR FLTG RATE INCOME	COM	33733U108	1,408,095	141,517	SH		SOLE		139,896	0	1,621
FRANKLIN LTD DURATION INCOME	COM	35472T101	2,592,059	419,427	SH		SOLE		417,219	0	2,208
FRANKLIN UNVL TR	SH BEN INT	355145103	551,321	77,324	SH		SOLE		77,324	0	0
GABELLI DIVID & INCOME TR	COM	36242H104	7,900,117	379,996	SH		SOLE		377,982	0	2,014
GENERAL AMERN INVS CO INC	COM	368802104	4,140,336	106,408	SH		SOLE		106,232	0	176
HANCOCK JOHN INVT TR	TAX ADV GLB SH	41013P749	578,521	117,825	SH		SOLE		117,825	0	0
HANCOCK JOHN INVT TR II	COM	410142103	1,752,274	138,083	SH		SOLE		137,058	0	1,025
HANCOCK JOHN PFD INCOME FD	SH BEN INT	41013W108	517,632	32,352	SH		SOLE		32,352	0	0
HIGH INCOME SECS FD	SHS BEN INT	42968F108	132,600	20,400	SH		SOLE		20,400	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	2,637,430	291,751	SH		SOLE		291,751	0	0
INVESCO HIGH INCOME TR II	COM	46131F101	990,602	94,343	SH		SOLE		94,343	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	201,198	626	SH		SOLE		593	0	33
INVESCO SR INCOME TR	COM	46131H107	585,120	159,000	SH		SOLE		159,000	0	0
JAPAN SMALLER CAPITALIZATION	COM	47109U104	522,625	75,633	SH		SOLE		75,633	0	0
JOHN HANCOCK HEDGED EQUITY &	COM	47804L102	253,209	21,772	SH		SOLE		21,772	0	0
KKR INCOME OPPORTUNITIES FD	COM	48249T106	161,604	14,718	SH		SOLE		14,718	0	0
KOREA FD INC	COM NEW	500634209	287,096	13,069	SH		SOLE		13,069	0	0
LAZARD GLOBAL TOTAL RETURN &	COM	52106W103	609,763	39,518	SH		SOLE		39,518	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	1,085,620	175,100	SH		SOLE		175,100	0	0
LIBERTY ALL-STAR GROWTH FD I	COM	529900102	3,374,903	639,186	SH		SOLE		639,186	0	0
LMP CAP & INCOME FD INC	COM	50208A102	1,141,920	90,960	SH		SOLE		90,960	0	0
MACQUARIE / FIRST TR GLOBAL	COM	55607W100	185,594	22,469	SH		SOLE		22,469	0	0
MEXICO EQUITY & INCOME FD	COM	592834105	893,965	88,775	SH		SOLE		88,775	0	0
MEXICO FD INC	COM	592835102	410,591	24,124	SH		SOLE		24,124	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	130,430	20,736	SH		SOLE		18,530	0	2,206
MFS INTER INCOME TR	SH BEN INT	55273C107	88,640	32,000	SH		SOLE		32,000	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	1,054,570	232,284	SH		SOLE		231,982	0	302
MFS SPL VALUE TR	SH BEN INT	55274E102	280,557	66,641	SH		SOLE		66,641	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	587,095	40,884	SH		SOLE		40,884	0	0
NEUBERGER BERMAN NEXT GENERA	COMMON STOCK	64133Q108	723,277	69,479	SH		SOLE		67,721	0	1,758
NEUBERGER BERMAN REAL ESTATE	COM	64190A103	296,096	96,135	SH		SOLE		96,135	0	0
NEW GERMANY FD INC	COM	644465106	1,946,742	214,163	SH		SOLE		214,163	0	0
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	946,108	75,609	SH		SOLE		75,609	0	0
NUVEEN CORE PLUS IMPACT FUND	COM BEN INT	67080D103	403,435	39,157	SH		SOLE		39,157	0	0
NUVEEN DOW 30 DYNMC OVERWRT	SHS	67075F105	3,925,241	262,625	SH		SOLE		261,083	0	1,542
NUVEEN FLOATING RATE INCOME	COM	67072T108	163,763	18,473	SH		SOLE		18,473	0	0
NUVEEN FLOATING RATE INCOME	COM SHS	6706EN100	652,181	80,629	SH		SOLE		80,629	0	0
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	435,793	39,042	SH		SOLE		39,042	0	0
NUVEEN MULTI ASSET INCOME FU	COM	670750108	1,542,558	132,257	SH		SOLE		131,377	0	880
NUVEEN PFD & INCOME OPPORTUN	COM	67073B106	1,068,989	161,308	SH		SOLE		161,308	0	0
NUVEEN PFD & INCOME SECS FD	COM	67072C105	1,996,044	307,060	SH		SOLE		307,060	0	0
NUVEEN REAL ASSET INCOME & G	COM	67074Y105	993,855	83,842	SH		SOLE		83,842	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	818,125	62,500	SH		SOLE		62,500	0	0
NUVEEN S&P 500 DYNAMIC OVERW	COM	6706EW100	818,805	51,817	SH		SOLE		51,080	0	737
NUVEEN SHORT DURATION CR OPP	COM	67074X107	967,967	81,747	SH		SOLE		79,681	0	2,066
NUVEEN SR INCOME FD	COM	67067Y104	2,756,516	592,354	SH		SOLE		587,625	0	4,729
NUVEEN TAXABLE MUNICPAL INM	COM	67074C103	565,762	34,918	SH		SOLE		34,918	0	0
PGIM GLOBAL HIGH YIELD FD FO	COM	69346J106	659,396	60,109	SH		SOLE		60,109	0	0
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	1,323,761	108,505	SH		SOLE		108,505	0	0
PGIM SHORT DUR HIG YLD OPP F	COM	69355J104	361,772	24,411	SH		SOLE		24,411	0	0
PIMCO DYNAMIC INCOME OPRNTS	COM BEN SHS	69355M107	1,051,868	84,828	SH		SOLE		84,828	0	0
PIMCO INCOME STRATEGY FD	COM	72201H108	1,345,373	163,881	SH		SOLE		163,881	0	0
PIMCO INCOME STRATEGY FD II	COM	72201J104	1,181,275	163,305	SH		SOLE		163,305	0	0
PIONEER DIVERSIFIED HIGH INC	COM	723653101	2,416,505	238,785	SH		SOLE		237,900	0	885
PIONEER FLOATING RATE FUND I	COM	72369J102	788,334	90,613	SH		SOLE		90,613	0	0
PIONEER HIGH INCOME FUND INC	COM	72369H106	3,309,692	494,963	SH		SOLE		491,510	0	3,453
PRINCIPAL REAL ESTATE INCOME	SHS BEN INT	74255X104	621,797	65,729	SH		SOLE		65,318	0	411
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	866,349	270,565	SH		SOLE		270,565	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	949,179	264,695	SH		SOLE		264,695	0	0
RIVERNORTH DOUBLELINE STRATE	COM	76882G107	2,615,166	305,510	SH		SOLE		304,465	0	1,045
RIVERNORTH OPPORTUNITIES FD	COM	76881Y109	2,587,195	227,746	SH		SOLE		224,442	0	3,304
ROYCE GLOBAL VALUE TR INC	COM	78081T104	986,319	109,591	SH		SOLE		109,591	0	0
ROYCE MICRO-CAP TR INC	COM	780915104	692,208	78,929	SH		SOLE		78,929	0	0
ROYCE VALUE TR INC	COM	780910105	7,190,160	529,857	SH		SOLE		527,191	0	2,666
SOURCE CAP INC	COM	836144105	5,868,863	155,302	SH		SOLE		154,918	0	384
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	2,256,572	206,268	SH		SOLE		203,909	0	2,359
SPROTT FOCUS TR INC	COM	85208J109	4,068,929	502,647	SH		SOLE		500,214	0	2,433
SRH TOTAL RETURN FUND INC	COM	101507101	7,997,572	651,268	SH		SOLE		650,390	0	878
SWISS HELVETIA FD INC	COM	870875101	2,261,343	285,163	SH		SOLE		279,827	0	5,336
TAIWAN FD INC	COM	874036106	914,511	33,921	SH		SOLE		33,543	0	378
TEKLA HEALTHCARE INVS	SH BEN INT	87911J103	335,350	19,000	SH		SOLE		19,000	0	0
TEKLA HEALTHCARE OPPORTUNITI	SHS	879105104	944,885	50,367	SH		SOLE		50,367	0	0
TEKLA LIFE SCIENCES INVS	SH BEN INT	87911K100	926,736	66,528	SH		SOLE		64,911	0	1,617
TEMPLETON DRAGON FD INC	COM	88018T101	1,336,374	126,192	SH		SOLE		126,192	0	0
TEMPLETON EMERGING MKTS FD	COM	880191101	312,999	26,752	SH		SOLE		26,752	0	0
TEMPLETON EMERGING MKTS INCO	COM	880192109	304,535	60,066	SH		SOLE		60,066	0	0
TEMPLETON GLOBAL INCOME FD	COM	880198106	595,659	135,377	SH		SOLE		133,490	0	1,887
THORNBURG INCM BUILDER OPP T	COM	885213108	201,213	12,890	SH		SOLE		12,890	0	0
TRI CONTL CORP	COM	895436103	814,501	30,678	SH		SOLE		30,678	0	0
VIRTUS CONVERTIBLE & INC FD	COM	92838U108	377,869	124,401	SH		SOLE		124,401	0	0
VIRTUS DIVERSIFIED INCM & CO	COM	92840N100	370,733	19,199	SH		SOLE		19,199	0	0
VIRTUS DIVIDEND INTEREST & P	COM	92840R101	1,425,066	121,179	SH		SOLE		121,179	0	0
VIRTUS GLOBAL MULTI-SECTOR I	COM	92829B101	2,967,607	382,917	SH		SOLE		382,917	0	0
VIRTUS TOTAL RETURN FD INC	COM	92835W107	77,701	12,000	SH		SOLE		12,000	0	0
VOYA ASIA PAC HIGH DIV EQT I	COM	92912J102	1,216,484	189,779	SH		SOLE		186,030	0	3,749
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	422,125	78,608	SH		SOLE		78,608	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	3,179,477	372,304	SH		SOLE		371,890	0	414
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	358,530	70,300	SH		SOLE		70,300	0	0
WESTERN ASSET DIVERSIFIED IN	COM SHS BEN INT	95790K109	642,505	47,841	SH		SOLE		47,841	0	0
WESTERN ASSET EMERGING MKTS	COM	95766A101	861,100	99,449	SH		SOLE		99,131	0	318
WESTERN ASSET HIGH INCOME OP	COM	95766K109	247,460	64,380	SH		SOLE		62,579	0	1,801