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
ABRDN ASIA PACIFIC INCOME FU	COM NEW	003009867	3,255,008	219,257	SH		SOLE		217,271	0	1,986
ABRDN AUSTRALIA EQUITY FD IN	COM	003011103	270,390	62,545	SH		SOLE		62,545	0	0
ABRDN EMRG MKTS EQTY INCM FD	COM	00301W105	368,761	69,779	SH		SOLE		69,779	0	0
ABRDN GLOBAL DYNAMIC DIVIDEN	COM	00302M106	624,505	63,013	SH		SOLE		63,013	0	0
ABRDN GLOBAL INFRA INCOME FU	COM SHS BEN INT	00326W106	747,871	42,514	SH		SOLE		41,733	0	781
ABRDN HEALTHCARE OPPORTUNITI	SHS	879105104	923,925	48,500	SH		SOLE		48,500	0	0
ABRDN INCOME CREDIT STRATEGI	COM	003057106	1,137,613	188,149	SH		SOLE		188,149	0	0
ABRDN JAPAN EQUITY FUND INC	COM	00306J109	403,591	68,399	SH		SOLE		68,399	0	0
ABRDN TOTAL DYNAMIC DIVIDEND	COM SH BEN INT	00326L100	688,306	80,882	SH		SOLE		80,882	0	0
ADAMS DIVERSIFIED EQUITY FD	COM	006212104	2,986,853	147,864	SH		SOLE		147,817	0	47
ALLIANCEBERNSTEIN GLOBAL HIG	COM	01879R106	630,967	58,804	SH		SOLE		58,413	0	391
ALLSPRING GLOBAL DIVIDEND OP	COM	94987C103	1,486,882	292,207	SH		SOLE		292,207	0	0
ALLSPRING INCOME OPPORTUNIT	INC OPPTY FD	94987B105	4,415,769	635,994	SH		SOLE		634,970	0	1,024
ALLSPRING MULTI SECTOR INCOM	COM	94987D101	3,486,926	376,291	SH		SOLE		375,509	0	782
ANGEL OAK FINL STRATEGIES IN	COM BEN INT	03464A100	1,964,284	154,668	SH		SOLE		154,264	0	404
BANCROFT FD LTD	COM	059695106	1,158,128	65,394	SH		SOLE		65,394	0	0
BARINGS GLOBAL SHORT DURATIO	COM	06760L100	789,961	50,799	SH		SOLE		50,799	0	0
BLACKROCK CAP ALLOCATION TER	COM	09260U109	386,583	25,517	SH		SOLE		25,517	0	0
BLACKROCK ENHANCD CAP & INM	COM	09256A109	1,576,906	78,453	SH		SOLE		77,387	0	1,066
BLACKROCK ENHANCED EQUITY DI	COM	09251A104	4,040,028	487,926	SH		SOLE		482,868	0	5,058
BLACKROCK ENHANCED GLOBAL DI	COM	092501105	571,715	53,084	SH		SOLE		53,084	0	0
BLACKROCK ENHANCED INTL DIV	COM BENE INTER	092524107	1,089,305	205,142	SH		SOLE		205,142	0	0
BLACKROCK HEALTH SCIENCES TE	COM SHS	09260E105	702,965	48,817	SH		SOLE		48,817	0	0
BLACKROCK INNOVATION AND GRW	SHS BEN INT	09260Q108	591,406	79,490	SH		SOLE		79,490	0	0
BLACKROCK MULTI SECTOR INC T	COM	09258A107	504,722	34,570	SH		SOLE		34,562	0	8
BLACKROCK MUN TARGET TERM TR	COM SHS BEN IN	09257P105	270,615	13,143	SH		SOLE		13,143	0	0
BLACKROCK SCIENCE & TECHNOLO	SHS	09258G104	647,734	17,717	SH		SOLE		17,717	0	0
BLACKSTONE LONG SHORT CR INC	COM SHS BN INT	09257D102	860,769	68,984	SH		SOLE		67,202	0	1,782
BLACKSTONE SENI FLTN RAT 202	COM	09256U105	291,518	20,177	SH		SOLE		20,177	0	0
BLACKSTONE STRATEGIC CRED 20	COM SHS BEN IN	09257R101	1,053,854	85,547	SH		SOLE		85,498	0	49
BNY MELLON HIGH YIELD STRATE	SH BEN INT	09660L105	248,021	96,600	SH		SOLE		96,600	0	0
BNY MELLON MUN BD INFRASTRUC	COM SHS	09662W109	104,857	10,092	SH		SOLE		10,092	0	0
BRANDYWINEGBL GBL INCM OPP F	COM	10537L104	1,803,096	225,387	SH		SOLE		224,623	0	764
BROOKFIELD REAL ASSETS INCOM	SHS BEN INT	112830104	363,144	27,263	SH		SOLE		27,240	0	23
CALAMOS GBL DYN INCOME FUND	COM	12811L107	4,903,081	721,031	SH		SOLE		710,660	0	10,371
CALAMOS GLOBAL TOTAL RETURN	COM SH BEN INT	128118106	1,295,836	113,152	SH		SOLE		113,152	0	0
CALAMOS LNG SHR EQT DYNAMIC	COM	12812C106	735,892	49,239	SH		SOLE		49,239	0	0
CALAMOS STRATEGIC TOTAL RETU	COM SH BEN INT	128125101	6,423,546	360,621	SH		SOLE		354,841	0	5,780
CBRE GBL REAL ESTATE INC FD	COM	12504G100	802,284	166,795	SH		SOLE		166,795	0	0
CENTRAL SECS CORP	COM	155123102	7,659,498	167,641	SH		SOLE		166,640	0	1,001
CHINA FD INC	COM	169373107	822,176	68,086	SH		SOLE		68,086	0	0
CHIPOTLE MEXICAN GRILL INC	COM	169656105	262,305	4,350	SH		SOLE		4,350	0	0
CLOUGH GLOBAL DIVID & INCOME	COM	18913Y103	229,923	42,382	SH		SOLE		42,382	0	0
CLOUGH GLOBAL EQUITY FD	COM	18914C100	932,753	140,053	SH		SOLE		139,067	0	986
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	1,264,016	246,878	SH		SOLE		243,855	0	3,023
COHEN & STEERS LTD DURATION	COM	19248C105	1,426,292	70,608	SH		SOLE		70,528	0	80
COHEN & STEERS SELECT PFD &	COM	19248Y107	1,337,797	67,668	SH		SOLE		66,514	0	1,154
COHEN & STEERS TAX ADVAN PFD	COM	19249X108	994,059	51,720	SH		SOLE		51,357	0	363
COLUMBIA SELIGM PREM TECH GR	COM	19842X109	2,161,897	67,665	SH		SOLE		66,942	0	723
CREDIT SUISSE ASSET MGMT INC	COM	224916106	262,661	90,886	SH		SOLE		90,886	0	0
DOUBLELINE INCOME SOLUTIONS	COM	258622109	918,566	73,076	SH		SOLE		72,893	0	183
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	1,714,037	110,583	SH		SOLE		108,389	0	2,194
DOUBLELINE YIELD OPPORTUNITI	COM	25862D105	330,594	20,884	SH		SOLE		20,884	0	0
EATON VANCE ENHANCED EQUITY	COM	278274105	461,385	22,214	SH		SOLE		22,214	0	0
EATON VANCE ENHANCED EQUITY	COM	278277108	280,000	11,691	SH		SOLE		11,658	0	33
EATON VANCE FLTING RATE INC	COM	278279104	465,395	35,985	SH		SOLE		34,767	0	1,218
EATON VANCE LTD DURATION INC	COM	27828H105	1,811,476	185,412	SH		SOLE		182,779	0	2,633
EATON VANCE RISK-MANAGED DIV	COM	27829G106	2,634,451	282,970	SH		SOLE		278,638	0	4,332
EATON VANCE SHORT DURATION D	COM	27828V104	407,218	37,291	SH		SOLE		37,291	0	0
EATON VANCE TAX ADVT DIV INC	COM	27828G107	4,369,236	181,673	SH		SOLE		179,604	0	2,069
EATON VANCE TAX MNGED BUY WR	COM	27828X100	3,286,530	219,102	SH		SOLE		217,215	0	1,887
EATON VANCE TAX-ADVANTAGED G	COM	27828U106	1,084,917	42,950	SH		SOLE		42,950	0	0
EATON VANCE TAX-MANAGED BUY-	COM	27828Y108	2,773,940	192,501	SH		SOLE		191,155	0	1,346
EATON VANCE TAX-MANAGED DIVE	COM	27828N102	1,504,464	100,633	SH		SOLE		100,633	0	0
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	2,924,150	357,913	SH		SOLE		357,529	0	384
EATON VANCE TAX-MANAGED GLOB	COM	27829C105	3,095,395	367,624	SH		SOLE		365,817	0	1,807
EATON VANCE TX ADV GLBL DIV	COM	27828S101	4,458,566	244,573	SH		SOLE		242,646	0	1,927
ELLSWORTH GROWTH & INCOME FD	COM	289074106	1,031,511	106,451	SH		SOLE		106,219	0	232
EUROPEAN EQUITY FD INC	COM	298768102	2,495,484	301,459	SH		SOLE		301,459	0	0
FIRST TR ENHANCED EQUITY INC	COM	337318109	2,467,431	119,142	SH		SOLE		118,320	0	822
FIRST TR HIGH YIELD OPPRT 20	COM	33741Q107	715,124	49,387	SH		SOLE		48,902	0	485
FIRST TR INTER DURATN PFD &	COM	33718W103	1,689,954	93,141	SH		SOLE		93,141	0	0
FIRST TR SPECIALTY FIN & FIN	COM BEN INTR	33733G109	131,075	31,134	SH		SOLE		31,134	0	0
FIRST TR SR FLTG RATE INCOME	COM	33733U108	1,495,089	144,453	SH		SOLE		141,499	0	2,954
FLAHERTY & CRUMRINE DYNAMIC	SHS	33848W106	1,500,286	75,240	SH		SOLE		74,916	0	324
FRANKLIN LTD DURATION INCOME	COM	35472T101	2,929,618	441,873	SH		SOLE		436,398	0	5,475
FRANKLIN UNVL TR	SH BEN INT	355145103	374,185	51,188	SH		SOLE		51,188	0	0
GABELLI CONV & INC SECS FD I	COM	36240B109	47,553	12,481	SH		SOLE		12,481	0	0
GABELLI DIVID & INCOME TR	COM	36242H104	2,465,281	102,082	SH		SOLE		101,852	0	230
GABELLI EQUITY TR INC	COM	362397101	326,260	60,643	SH		SOLE		60,643	0	0
GABELLI GLOBAL SMALL & MID C	COM	36249W104	1,120,287	95,751	SH		SOLE		94,546	0	1,205
HANCOCK JOHN FINL OPPTYS FD	SH BEN INT NEW	409735206	938,933	26,308	SH		SOLE		26,308	0	0
HANCOCK JOHN INCOME SECS TR	COM	410123103	333,746	29,812	SH		SOLE		29,812	0	0
HANCOCK JOHN INVT TR II	COM	410142103	1,437,950	105,114	SH		SOLE		104,879	0	235
HANCOCK JOHN PREM DIVID FD	COM SH BEN INT	41013T105	1,721,671	135,139	SH		SOLE		135,139	0	0
HANCOCK JOHN TAX-ADVANTAGED	COM	41013V100	308,280	14,000	SH		SOLE		14,000	0	0
HIGHLAND GLOBAL ALLOCATION F	COM	43010T104	4,542,454	667,027	SH		SOLE		665,930	0	1,097
INSIGHT SELECT INCOME FD	COM	45781W109	356,739	20,585	SH		SOLE		20,307	0	278
INVESCO HIGH INCOME TR II	COM	46131F101	723,788	66,039	SH		SOLE		66,039	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	297,536	582	SH		SOLE		549	0	33
JAPAN SMALLER CAPITALIZATION	COM	47109U104	512,939	66,876	SH		SOLE		66,876	0	0
JOHN HANCOCK HEDGED EQUITY &	COM	47804L102	2,548,478	249,606	SH		SOLE		246,348	0	3,258
LAZARD GLOBAL TOTAL RETURN &	COM	52106W103	497,698	31,145	SH		SOLE		31,145	0	0
LIBERTY ALL STAR EQUITY FD	SH BEN INT	530158104	2,874,657	409,094	SH		SOLE		408,442	0	652
LIBERTY ALL-STAR GROWTH FD I	COM	529900102	7,124,795	1,239,683	SH		SOLE		1,232,993	0	6,690
LMP CAP & INCOME FD INC	COM	50208A102	646,944	37,613	SH		SOLE		37,613	0	0
MEXICO EQUITY & INCOME FD	COM	592834105	664,178	82,712	SH		SOLE		82,712	0	0
MEXICO FD INC	COM	592835102	234,815	17,789	SH		SOLE		17,789	0	0
MFS CHARTER INCOME TR	SH BEN INT	552727109	2,003,761	314,069	SH		SOLE		312,640	0	1,429
MFS GOVT MKTS INCOME TR	SH BEN INT	552939100	238,417	77,660	SH		SOLE		77,660	0	0
MFS INTER INCOME TR	SH BEN INT	55273C107	108,981	40,970	SH		SOLE		40,970	0	0
MFS MULTIMARKET INCOME TR	SH BEN INT	552737108	1,263,960	269,501	SH		SOLE		269,501	0	0
MORGAN STANLEY CHINA A SH FD	COM	617468103	468,346	37,588	SH		SOLE		37,588	0	0
MORGAN STANLEY EMERGING MKTS	COM	617477104	708,773	150,586	SH		SOLE		150,586	0	0
NEUBERGER BERMAN HIGH YIELD	COM	64128C106	1,082,395	144,512	SH		SOLE		144,239	0	273
NEUBERGER BERMAN NEXT GENERA	COMMON STOCK	64133Q108	234,646	18,418	SH		SOLE		15,968	0	2,450
NEW GERMANY FD INC	COM	644465106	1,397,918	178,169	SH		SOLE		178,169	0	0
NUVEEN CORE EQUITY ALPHA FD	COM	67090X107	3,139,392	197,446	SH		SOLE		197,313	0	133
NUVEEN CORE PLUS IMPACT FUND	COM BEN INT	67080D103	1,899,157	180,700	SH		SOLE		180,611	0	89
NUVEEN CR STRATEGIES INCOME	COM SHS	67073D102	394,317	69,300	SH		SOLE		69,134	0	166
NUVEEN DOW 30 DYNMC OVERWRT	SHS	67075F105	1,453,727	96,529	SH		SOLE		95,696	0	833
NUVEEN FLOATING RATE INCOME	COM	67072T108	1,028,405	115,292	SH		SOLE		114,045	0	1,247
NUVEEN GLOBAL HIGH INCOME FD	SHS	67075G103	2,086,282	162,483	SH		SOLE		162,483	0	0
NUVEEN MULTI ASSET INCOME FU	COM	670750108	2,326,694	193,247	SH		SOLE		192,107	0	1,140
NUVEEN MULTI-MKT INCOME FD	COM	67075J107	65,232	10,782	SH		SOLE		10,782	0	0
NUVEEN NASDAQ 100 DYNAMIC OV	COM SHS	670699107	4,832,835	178,663	SH		SOLE		176,684	0	1,979
NUVEEN PFD & INCOME OPPORTUN	COM	67073B106	109,765	13,965	SH		SOLE		13,965	0	0
NUVEEN PFD SECS & INC OPPTY	COM	67075A106	291,511	14,873	SH		SOLE		14,873	0	0
NUVEEN REAL ASSET INCOME & G	COM	67074Y105	574,113	47,330	SH		SOLE		47,039	0	291
NUVEEN REAL ESTATE INCOME FD	COM	67071B108	364,428	42,228	SH		SOLE		42,228	0	0
NUVEEN S&P 500 BUY-WRITE INC	COM	6706ER101	3,006,004	214,868	SH		SOLE		214,314	0	554
NUVEEN S&P 500 DYNAMIC OVERW	COM	6706EW100	4,356,631	245,444	SH		SOLE		244,503	0	941
NYLI CBRE GBL INFR MEGTRNDS	COM	56064Q107	820,526	67,422	SH		SOLE		67,422	0	0
PGIM GLOBAL HIGH YIELD FD FO	COM	69346J106	1,125,471	90,701	SH		SOLE		89,323	0	1,378
PGIM HIGH YIELD BOND FUND IN	COM	69346H100	1,392,278	100,959	SH		SOLE		99,406	0	1,553
PGIM SHORT DUR HIG YLD OPP F	COM	69355J104	3,971,181	244,735	SH		SOLE		244,735	0	0
PIMCO DYNAMIC INCOME OPRNTS	COM BEN SHS	69355M107	363,873	26,775	SH		SOLE		24,389	0	2,386
PIMCO GLOBAL STOCKSPLS INCM	COM	722011103	739,195	94,373	SH		SOLE		92,125	0	2,248
PIONEER DIVERSIFIED HIGH INC	COM	723653101	718,181	60,364	SH		SOLE		60,364	0	0
PIONEER FLOATING RATE FUND I	COM	72369J102	1,040,078	107,446	SH		SOLE		105,823	0	1,623
PIONEER HIGH INCOME FUND INC	COM	72369H106	1,472,144	189,954	SH		SOLE		189,954	0	0
PRINCIPAL REAL ESTATE INCOME	SHS BEN INT	74255X104	514,166	52,041	SH		SOLE		52,041	0	0
PUTNAM MASTER INTER INCOME T	SH BEN INT	746909100	444,575	135,437	SH		SOLE		135,437	0	0
PUTNAM PREMIER INCOME TR	SH BEN INT	746853100	303,182	84,546	SH		SOLE		84,546	0	0
RIVERNORTH CAP AND INCM FD I	COM	76882B108	911,273	59,021	SH		SOLE		59,021	0	0
RIVERNORTH DOUBLELINE STRATE	COM	76882G107	684,981	82,132	SH		SOLE		79,976	0	2,156
RIVERNORTH OPPORTUNITIES FD	COM	76881Y109	1,161,306	101,071	SH		SOLE		100,378	0	693
ROYCE GLOBAL TRUST INC	COM	78081T104	946,691	88,295	SH		SOLE		88,177	0	118
ROYCE MICRO-CAP TR INC	COM	780915104	7,164,164	734,786	SH		SOLE		727,648	0	7,138
ROYCE SMALL CAP TRUST INC	COM	780910105	1,177,100	74,500	SH		SOLE		73,412	0	1,088
SABA CAPITAL INCOME & OPPORT	COM NEW	880198205	1,622,728	179,109	SH		SOLE		175,763	0	3,346
SABA CAPITAL INCOME & OPRNT	SHS NEW	78518H202	1,640,815	215,330	SH		SOLE		215,318	0	12
SOURCE CAP INC	COM	836144105	883,830	18,038	SH		SOLE		17,978	0	60
SPDR S&P 500 ETF TR	TR UNIT	78462F103	5,563,827	9,454	SH		SOLE		9,418	0	36
SPECIAL OPPORTUNITIES FD INC	COM	84741T104	2,308,790	157,812	SH		SOLE		157,095	0	717
SPROTT FOCUS TR INC	COM	85208J109	2,744,662	375,210	SH		SOLE		372,895	0	2,315
SRH TOTAL RETURN FUND INC	COM	101507101	11,642,151	726,726	SH		SOLE		725,215	0	1,511
SWISS HELVETIA FD INC	COM	870875101	1,891,683	252,561	SH		SOLE		249,861	0	2,700
TAIWAN FD INC	COM	874036106	1,647,725	35,411	SH		SOLE		35,033	0	378
TEMPLETON DRAGON FD INC	COM	88018T101	907,131	106,847	SH		SOLE		104,498	0	2,349
TEMPLETON EMERGING MKTS FD	COM	880191101	603,655	50,515	SH		SOLE		50,515	0	0
TEMPLETON EMERGING MKTS INCO	COM	880192109	841,700	164,074	SH		SOLE		164,074	0	0
TORTOISE SUSTAINABLE & SOCIA	COM SH BEN INT	27901F109	297,588	24,799	SH		SOLE		24,799	0	0
TRI CONTL CORP	COM	895436103	5,199,284	164,067	SH		SOLE		162,054	0	2,013
VIRTUS ARTIFICIAL INTELLIGEN	COM	92838Y100	226,700	9,193	SH		SOLE		7,930	0	1,263
VIRTUS CONVERTIBLE & INC FD	COM	92838U108	156,341	49,949	SH		SOLE		49,949	0	0
VIRTUS CONVERTIBLE & INCOME	COM	92838X102	60,944	17,563	SH		SOLE		13,992	0	3,571
VIRTUS DIVERSIFIED INCM & CO	COM	92840N100	811,120	36,953	SH		SOLE		36,953	0	0
VIRTUS GLOBAL MULTI-SECTOR I	COM	92829B101	1,981,465	259,354	SH		SOLE		259,354	0	0
VIRTUS TOTAL RETURN FD INC	COM	92835W107	709,582	121,089	SH		SOLE		118,550	0	2,539
VOYA ASIA PAC HIGH DIV EQT I	COM	92912J102	996,183	162,620	SH		SOLE		162,620	0	0
VOYA EMERGING MKTS HIGH DIVI	COM	92912P108	292,211	57,692	SH		SOLE		57,692	0	0
VOYA GLBL ADV & PREM OPP FD	COM	92912R104	435,551	47,227	SH		SOLE		47,227	0	0
VOYA GLBL EQTY DIV & PREM OP	COM	92912T100	610,682	111,768	SH		SOLE		111,641	0	127
VOYA INFRASTRUCTURE INDLS &	COM	92912X101	444,546	43,450	SH		SOLE		43,450	0	0
WESTERN ASSET DIVERSIFIED IN	COM SHS BEN INT	95790K109	1,183,263	83,036	SH		SOLE		81,812	0	1,224
WESTERN ASSET EMERGING MKTS	COM	95766A101	1,615,054	167,885	SH		SOLE		167,885	0	0
WESTERN ASSET GBL HIGH INC F	COM	95766B109	138,557	20,742	SH		SOLE		19,748	0	994
WESTERN ASSET HIGH INCOM FD	COM	95766J102	1,129,392	268,264	SH		SOLE		268,264	0	0
WESTERN ASSET HIGH INCOME OP	COM	95766K109	107,458	27,343	SH		SOLE		27,343	0	0
WESTERN ASSET HIGH YIELD DEF	COM	95768B107	1,909,179	161,521	SH		SOLE		159,546	0	1,975
WESTERN ASSET INVESTMENT GRA	COM	95766T100	751,952	60,108	SH		SOLE		60,108	0	0
WESTERN ASSET INVT GRADE OPP	COM	95790A101	200,581	12,298	SH		SOLE		12,298	0	0
WSTRN AST GLBL CORP OPP FD I	COM	95790C107	572,132	50,497	SH		SOLE		50,497	0	0
XAI MADISON EQUITY PREMIUM I	COM	557437100	1,296,487	193,217	SH		SOLE		193,217	0	0
XAI OCTAGN FLT RAT & ALT INM	COM	98400T106	157,468	23,715	SH		SOLE		23,715	0	0