Shaker Financial Services, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	GABELLI DIVID & INCOME TR	455,968	$9,325	4.5%	$24.53	—	COM	36242H104
—	VIRTUS DIVIDEND INTEREST & P	593,273	$6,846	3.3%	$13.83	—	COM	92840R101
—	ADAMS DIVERSIFIED EQUITY FD	430,758	$6,608	3.2%	$17.29	—	COM	006212104
—	TRI CONTL CORP	246,752	$6,457	3.1%	$31.17	—	COM	895436103
—	CALAMOS STRATEGIC TOTAL RETU	430,977	$5,650	2.7%	$14.54	—	COM SH BEN INT	128125101
—	GENERAL AMERN INVS CO INC	152,248	$5,383	2.6%	$41.80	—	COM	368802104
—	EATON VANCE TX ADV GLBL DIV	315,325	$5,080	2.5%	$20.95	—	COM	27828S101
—	BLACKROCK ENHANCD CAP & INM	280,261	$4,927	2.4%	$18.05	—	COM	09256A109
—	ROYCE MICRO-CAP TR INC	545,147	$4,557	2.2%	$9.53	—	COM	780915104
—	NUVEEN DOW 30 DYNMC OVERWRT	282,988	$4,324	2.1%	$16.51	—	SHS	67075F105
—	EATON VANCE TAX-MANAGED GLOB	523,008	$4,032	2.0%	$8.77	—	COM	27829F108
—	FIRST TR ENHANCED EQUITY INC	245,717	$4,015	2.0%	$16.34	—	COM	337318109
—	HIGHLAND GLOBAL ALLOCATION F	388,530	$3,757	1.8%	$9.26	—	COM	43010T104
—	APOLLO TACTICAL INCOME FD IN	303,763	$3,657	1.8%	$14.66	—	COM	037638103
—	NUVEEN CORE EQUITY ALPHA FD	269,971	$3,604	1.8%	$13.35	—	COM	67090X107
—	BLACKROCK DEBT STRATEGIES FD	388,409	$3,550	1.7%	$9.74	—	COM NEW	09255R202
—	ABERDEEN GLOBAL DYNAMIC DIVI	373,263	$3,497	1.7%	$11.34	—	COM	00302M106
—	CALAMOS LNG SHR EQT DYNAMIC	210,034	$3,466	1.7%	$17.64	—	COM	12812C106
—	SPROTT FOCUS TR INC	454,316	$3,435	1.7%	$7.90	—	COM	85208J109
—	SOURCE CAP INC	90,864	$3,392	1.6%	$42.00	—	COM	836144105
—	NUVEEN S&P 500 BUY-WRITE INC	251,782	$3,115	1.5%	$12.50	—	COM	6706ER101
—	VIRTUS GLOBAL MULTI-SECTOR I	369,867	$3,055	1.5%	$10.99	—	COM	92829B101
—	BARINGS GLOBAL SHORT DURATIO	225,846	$2,938	1.4%	$14.97	—	COM	06760L100
—	VIRTUS EQUITY & CONV INCM FD	139,813	$2,901	1.4%	$22.46	—	COM	92841M101
—	BLACKSTONE STRATEGIC CREDIT	258,731	$2,890	1.4%	$12.84	—	COM SHS BEN IN	09257R101
—	SRH TOTAL RETURN FUND INC	227,881	$2,723	1.3%	$12.20	—	COM	101507101
—	ARES DYNAMIC CR ALLOCATION F	219,169	$2,674	1.3%	$15.94	—	COM	04014F102
—	NUVEEN SR INCOME FD	515,853	$2,471	1.2%	$5.60	—	COM	67067Y104
—	EATON VANCE TAX-MANAGED GLOB	296,560	$2,464	1.2%	$8.31	—	COM	27829C105
—	PIMCO DYNAMIC INCOME OPRNTS	167,305	$2,317	1.1%	$15.55	—	COM BEN SHS	69355M107
—	KKR INCOME OPPORTUNITIES FD	193,194	$2,249	1.1%	$13.30	—	COM	48249T106
—	VOYA GLBL ADV & PREM OPP FD	238,778	$2,175	1.1%	$9.91	—	COM	92912R104
—	CENTRAL SECS CORP	58,289	$2,052	1.0%	$29.62	—	COM	155123102
—	BLACKSTONE LONG SHORT CR INC	175,554	$2,019	1.0%	$14.11	—	COM SHS BN INT	09257D102
—	EATON VANCE FLTING RATE INC	166,876	$1,966	1.0%	$12.88	—	COM	278279104
—	WESTERN ASSET GBL HIGH INC F	273,446	$1,928	0.9%	$10.18	—	COM	95766B109
—	EUROPEAN EQUITY FD INC	259,156	$1,850	0.9%	$9.69	—	COM	298768102
XPHTX	PIONEER HIGH INCOME FUND INC	246,709	$1,742	0.8%	$8.56	—	COM	72369H106
—	NUVEEN CR STRATEGIES INCOME	328,967	$1,711	0.8%	$6.44	—	COM SHS	67073D102
—	EATON VANCE SR FLTNG RTE TR	136,683	$1,677	0.8%	$12.76	—	COM	27828Q105
—	NEW GERMANY FD INC	196,628	$1,659	0.8%	$15.01	—	COM	644465106
—	BNY MELLON HIGH YIELD STRATE	722,786	$1,641	0.8%	$2.98	—	SH BEN INT	09660L105
—	NUVEEN FLOATING RATE INCOME	194,113	$1,619	0.8%	$9.24	—	COM	67072T108
—	FIRST TR HIGH INCOME LONG /	139,989	$1,596	0.8%	$13.97	—	COM	33738E109
XPHDX	PIONEER FLOATING RATE FUND I	178,925	$1,589	0.8%	$10.20	—	COM	72369J102
—	NUVEEN PFD & INCM SECURTIES	207,686	$1,508	0.7%	$9.62	—	COM	67072C105
—	BLACKROCK ENHANCED INTL DIV	297,576	$1,506	0.7%	$6.21	—	COM BENE INTER	092524107
—	NUVEEN SHORT DURATION CR OPP	123,252	$1,483	0.7%	$14.58	—	COM	67074X107
—	WESTERN ASSET HIGH INCOME OP	370,372	$1,467	0.7%	$4.74	—	COM	95766K109
—	EATON VANCE ENHANCED EQUITY	89,004	$1,441	0.7%	$16.19	—	COM	278277108
—	DOUBLELINE INCOME SOLUTIONS	118,031	$1,432	0.7%	$17.81	—	COM	258622109
—	ALLSPRING INCOME OPPORTUNIT	215,932	$1,401	0.7%	$8.29	—	INC OPPTY FD	94987B105
XHNWX	PIONEER DIVERSIFIED HIGH INC	128,296	$1,391	0.7%	$12.77	—	COM	723653101
—	APOLLO SR FLOATING RATE FD I	108,267	$1,389	0.7%	$15.11	—	COM	037636107
—	EATON VANCE SR INCOME TR	235,047	$1,283	0.6%	$6.67	—	SH BEN INT	27826S103
—	BLACKROCK FLOATING RATE INC	115,392	$1,272	0.6%	$11.75	—	COM	091941104
—	ABERDEEN TOTAL DYNAMIC DIVD	152,709	$1,234	0.6%	$9.52	—	COM SH BEN INT	00326L100
—	VOYA ASIA PAC HIGH DIV EQT I	174,635	$1,215	0.6%	$8.15	—	COM	92912J102
—	EATON VANCE ENHANCED EQUITY	81,948	$1,210	0.6%	$14.77	—	COM	278274105
—	VIRTUS CONVERTIBLE & INC FD	375,667	$1,187	0.6%	$3.75	—	COM	92838U108
—	TEMPLETON GLOBAL INCOME FD	266,975	$1,177	0.6%	$5.31	—	COM	880198106
—	INVESCO HIGH INCOME TR II	111,322	$1,163	0.6%	$13.80	—	COM	46131F101
—	BLACKROCK FLOATING RATE INCO	101,381	$1,155	0.6%	$11.68	—	COM	09255X100
—	NUVEEN REAL ASSET INCOME & G	88,357	$1,155	0.6%	$15.82	—	COM	67074Y105
—	BLACKROCK MULTI SECTOR INC T	79,512	$1,130	0.5%	$16.48	—	COM	09258A107
—	NUVEEN MULTI ASSET INCOME FU	85,617	$1,130	0.5%	$17.75	—	COM	670750108
—	SWISS HELVETIA FD INC	132,548	$1,042	0.5%	$9.00	—	COM	870875101
—	NUVEEN EMERGING MKTS DEBT 20	142,192	$951	0.5%	$7.52	—	COM	67077P101
—	TAIWAN FD INC	33,921	$852	0.4%	$27.77	—	COM	874036106
—	ALLSPRING MULTI SECTOR INCOM	87,969	$842	0.4%	$10.41	—	COM	94987D101
—	TEKLA LIFE SCIENCES INVS	56,867	$809	0.4%	$14.88	—	SH BEN INT	87911K100
—	CREDIT SUISSE HIGH YIELD BD	417,721	$789	0.4%	$2.34	—	SH BEN INT	22544F103
—	MFS MULTIMARKET INCOME TR	169,090	$771	0.4%	$5.31	—	SH BEN INT	552737108
—	TEMPLETON DRAGON FD INC	53,186	$758	0.4%	$20.05	—	COM	88018T101
—	DOUBLELINE YIELD OPPORTUNITI	51,177	$734	0.4%	$18.20	—	COM	25862D105
—	MFS CHARTER INCOME TR	113,949	$718	0.3%	$7.13	—	SH BEN INT	552727109
—	EATON VANCE TAX-MANAGED DIVE	62,802	$712	0.3%	$11.34	—	COM	27828N102
—	BLACKSTONE SENIOR FLOATNG RA	53,062	$706	0.3%	$15.13	—	COM	09256U105
—	TEKLA HEALTHCARE OPPORTUNITI	34,868	$695	0.3%	$21.93	—	SHS	879105104
—	MORGAN STANLEY CHINA A SH FD	40,884	$692	0.3%	$20.99	—	COM	617468103
—	BLACKROCK ESG CAP ALLC TR	47,522	$680	0.3%	$16.66	—	SHS BEN INT	09262F100
—	PUTNAM MASTER INTER INCOME T	185,323	$632	0.3%	$4.17	—	SH BEN INT	746909100
—	JOHN HANCOCK HEDGED EQUITY &	51,927	$611	0.3%	$12.64	—	COM	47804L102
—	BANCROFT FD LTD	32,435	$586	0.3%	$28.90	—	COM	059695106
XXCHNXX	CHINA FD INC	37,586	$584	0.3%	$23.19	—	COM	169373107
—	NEUBERGER BERMAN NEXT GENERA	53,298	$529	0.3%	$16.26	—	COMMON STOCK	64133Q108
—	VIRTUS ARTIFICIAL INTELLIGEN	32,315	$523	0.3%	$20.74	—	COM	92838Y100
—	CLOUGH GLOBAL DIVID & INCOME	64,157	$522	0.3%	$10.72	—	COM	18913Y103
—	NUVEEN FLOATING RATE INCOME	63,563	$519	0.3%	$8.17	—	COM SHS	6706EN100
—	FIRST TR ENERGY INFRASTRCTR	35,853	$513	0.2%	$13.64	—	COM	33738C103
—	MADISON COVERED CALL & EQUIT	68,708	$466	0.2%	$6.78	—	COM	557437100
—	NEUBERGER BERMAN HIGH YIELD	52,782	$442	0.2%	$8.37	—	COM	64128C106
—	EATON VANCE TAX-ADVANTAGED G	19,768	$437	0.2%	$22.11	—	COM	27828U106
—	DELAWARE INVTS DIVID & INCOM	50,189	$426	0.2%	$10.27	—	COM	245915103
—	LMP CAP & INCOME FD INC	33,928	$418	0.2%	$14.07	—	COM	50208A102
—	TEMPLETON EMERGING MKTS INCO	75,434	$407	0.2%	$7.09	—	COM	880192109
—	VOYA EMERGING MKTS HIGH DIVI	68,904	$397	0.2%	$6.87	—	COM	92912P108
—	THORNBURG INCM BUILDER OPP T	25,618	$372	0.2%	$18.67	—	COM	885213108
—	JAPAN SMALLER CAPITALIZATION	56,523	$357	0.2%	$8.47	—	COM	47109U104
—	FIRST TR SPECIALTY FIN & FIN	107,564	$343	0.2%	$3.45	—	COM BEN INTR	33733G109
—	BLACKROCK LTD DURATION INCOM	26,528	$336	0.2%	$14.34	—	COM SHS	09249W101
—	ROYCE GLOBAL VALUE TR INC	36,666	$327	0.2%	$12.46	—	COM	78081T104
—	COHEN & STEERS LTD DURATION	16,264	$322	0.2%	$19.80	—	COM	19248C105
—	COLUMBIA SELIGM PREM TECH GR	12,271	$308	0.1%	$32.10	—	COM	19842X109
—	FIRST TR HIGH YIELD OPPRT 20	19,179	$279	0.1%	$17.39	—	COM	33741Q107
—	FRANKLIN LTD DURATION INCOME	41,000	$277	0.1%	$7.69	—	COM	35472T101
—	VOYA INFRASTRUCTURE INDLS &	28,286	$276	0.1%	$11.95	—	COM	92912X101
—	MAINSTAY CBRE GBL INFRSTR ME	17,234	$274	0.1%	$19.21	—	COM	56064Q107
—	ALLSPRING GLOBAL DIVIDEND OP	61,953	$270	0.1%	$5.26	—	COM	94987C103
—	KOREA FD INC	11,069	$269	0.1%	$37.79	—	COM NEW	500634209
—	ELLSWORTH GROWTH & INCOME FD	31,210	$266	0.1%	$12.29	—	COM	289074106
—	FIRST TR SR FLTG RATE INCOME	25,642	$256	0.1%	$9.98	—	COM	33733U108
—	PGIM SHORT DUR HIG YLD OPP F	16,800	$250	0.1%	$17.29	—	COM	69355J104
—	PUTNAM PREMIER INCOME TR	64,028	$243	0.1%	$4.46	—	SH BEN INT	746853100
—	PGIM GLOBAL HIGH YIELD FD FO	21,040	$241	0.1%	$15.00	—	COM	69346J106
—	ABRDN ASIA PACIFIC INCOME FU	80,304	$234	0.1%	$3.91	—	COM	003009107
—	TEMPLETON EMERGING MKTS FD	18,212	$218	0.1%	$16.76	—	COM	880191101
—	VOYA GLBL EQTY DIV & PREM OP	36,822	$203	0.1%	$5.99	—	COM	92912T100
XJEQX	ABRDN JAPAN EQUITY FUND INC	35,451	$197	0.1%	$7.45	—	COM	00306J109
—	RIVERNORTH DOUBLELINE STRATE	17,175	$187	0.1%	$12.46	—	COM	76882G107
—	DOUBLELINE OPPORTUNISTIC CR	10,761	$168	0.1%	$18.15	—	COM	258623107
—	WESTERN ASST INFLTN LKD INM	16,100	$157	0.1%	$9.75	—	COM SH BEN INT	95766Q106
—	GABELLI GLOBAL SMALL & MID C	13,898	$153	0.1%	$11.01	—	COM	36249W104
—	CENTRAL & EASTERN EUROPE FD	15,117	$151	0.1%	$26.38	—	COM	153436100
—	CREDIT SUISSE ASSET MGMT INC	52,477	$143	0.1%	$3.10	—	COM	224916106
—	MEXICO EQUITY & INCOME FD	16,525	$133	0.1%	$8.05	—	COM	592834105
—	ABRDN AUSTRALIA EQUITY FD IN	28,173	$130	0.1%	$5.05	—	COM	003011103
—	ABRDN EMRG MKTS EQTY INCM FD	21,688	$120	0.1%	$8.64	—	COM	00301W105
—	NUVEEN GLOBAL HIGH INCOME FD	10,251	$119	0.1%	$11.61	—	SHS	67075G103
—	HANCOCK JOHN INVT TR	20,803	$112	0.1%	$5.38	—	TAX ADV GLB SH	41013P749
—	INVESCO SR INCOME TR	28,435	$111	0.1%	$3.90	—	COM	46131H107
—	NUVEEN PFD & INCOME OPPORTUN	14,160	$108	0.1%	$9.59	—	COM	67073B106