Shaker Financial Services, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	GABELLI DIVID & INCOME TR	440,623	$8,248	4.1%	$24.53	—	COM	36242H104
—	FIRST TR ENHANCED EQUITY INC	517,265	$7,599	3.8%	$15.47	—	COM	337318109
—	VIRTUS DIVIDEND INTEREST & P	674,724	$7,206	3.6%	$13.45	—	COM	92840R101
—	ADAMS DIVERSIFIED EQUITY FD	461,177	$6,719	3.3%	$17.11	—	COM	006212104
SPY	SPDR S&P 500 ETF TR	15,844	$5,659	2.8%	$357.17	—	TR UNIT	78462F103
—	CENTRAL SECS CORP	158,832	$5,359	2.6%	$32.23	—	COM	155123102
—	ROYCE MICRO-CAP TR INC	654,579	$5,191	2.6%	$9.26	—	COM	780915104
—	SOURCE CAP INC	138,476	$4,847	2.4%	$39.59	—	COM	836144105
—	SPROTT FOCUS TR INC	590,376	$4,062	2.0%	$7.67	—	COM	85208J109
—	SRH TOTAL RETURN FUND INC	365,111	$3,972	2.0%	$11.70	—	COM	101507101
—	GENERAL AMERN INVS CO INC	113,706	$3,849	1.9%	$41.80	—	COM	368802104
—	BLACKROCK ENHANCD CAP & INM	232,635	$3,827	1.9%	$18.05	—	COM	09256A109
—	BLACKROCK DEBT STRATEGIES FD	414,990	$3,702	1.8%	$9.69	—	COM NEW	09255R202
—	APOLLO TACTICAL INCOME FD IN	285,995	$3,369	1.7%	$14.66	—	COM	037638103
—	NUVEEN DOW 30 DYNMC OVERWRT	235,327	$3,175	1.6%	$16.51	—	SHS	67075F105
—	ABRDN GLOBAL DYNAMIC DIVIDEN	368,783	$3,116	1.5%	$11.34	—	COM	00302M106
—	VIRTUS GLOBAL MULTI-SECTOR I	381,878	$2,856	1.4%	$10.88	—	COM	92829B101
—	ARES DYNAMIC CR ALLOCATION F	243,011	$2,855	1.4%	$15.53	—	COM	04014F102
—	NUVEEN SR INCOME FD	602,729	$2,815	1.4%	$5.47	—	COM	67067Y104
—	NUVEEN MULTI ASSET INCOME FU	233,821	$2,663	1.3%	$13.72	—	COM	670750108
XPHTX	PIONEER HIGH INCOME FUND INC	406,110	$2,623	1.3%	$7.73	—	COM	72369H106
—	EATON VANCE ENHANCED EQUITY	179,198	$2,527	1.2%	$14.41	—	COM	278274105
—	ABRDN TOTAL DYNAMIC DIVIDEND	351,686	$2,511	1.2%	$8.17	—	COM SH BEN INT	00326L100
—	CALAMOS LNG SHR EQT DYNAMIC	167,662	$2,507	1.2%	$17.64	—	COM	12812C106
—	HIGHLAND GLOBAL ALLOCATION F	272,438	$2,376	1.2%	$9.26	—	COM	43010T104
—	EATON VANCE SR FLTNG RTE TR	209,629	$2,329	1.2%	$12.19	—	COM	27828Q105
—	KKR INCOME OPPORTUNITIES FD	194,705	$2,227	1.1%	$13.30	—	COM	48249T106
—	VOYA GLBL ADV & PREM OPP FD	253,587	$2,138	1.1%	$9.82	—	COM	92912R104
—	DOUBLELINE INCOME SOLUTIONS	197,808	$2,136	1.1%	$14.98	—	COM	258622109
—	BARINGS GLOBAL SHORT DURATIO	166,677	$2,037	1.0%	$14.97	—	COM	06760L100
—	VIRTUS EQUITY & CONV INCM FD	99,230	$2,015	1.0%	$22.46	—	COM	92841M101
—	ABRDN ASIA PACIFIC INCOME FU	781,794	$1,970	1.0%	$2.66	—	COM	003009107
—	BLACKSTONE LONG SHORT CR INC	176,976	$1,929	1.0%	$14.11	—	COM SHS BN INT	09257D102
—	EATON VANCE FLTING RATE INC	159,035	$1,807	0.9%	$12.88	—	COM	278279104
—	WESTERN ASSET GBL HIGH INC F	268,466	$1,761	0.9%	$10.18	—	COM	95766B109
—	FIRST TR HIGH INCOME LONG /	156,915	$1,701	0.8%	$13.63	—	COM	33738E109
—	APOLLO SR FLOATING RATE FD I	132,456	$1,657	0.8%	$14.64	—	COM	037636107
XPHDX	PIONEER FLOATING RATE FUND I	189,954	$1,637	0.8%	$10.11	—	COM	72369J102
—	NUVEEN FLOATING RATE INCOME	201,614	$1,635	0.8%	$9.20	—	COM	67072T108
—	BNY MELLON HIGH YIELD STRATE	774,847	$1,635	0.8%	$2.92	—	SH BEN INT	09660L105
—	SWISS HELVETIA FD INC	240,499	$1,633	0.8%	$8.01	—	COM	870875101
—	NUVEEN PFD & INCOME SECS FD	247,832	$1,628	0.8%	$9.13	—	COM	67072C105
—	EUROPEAN EQUITY FD INC	259,156	$1,609	0.8%	$9.69	—	COM	298768102
—	CALAMOS STRATEGIC TOTAL RETU	127,413	$1,593	0.8%	$14.54	—	COM SH BEN INT	128125101
—	ALLSPRING INCOME OPPORTUNIT	247,386	$1,534	0.8%	$8.03	—	INC OPPTY FD	94987B105
—	PIMCO INCOME STRATEGY FD II	219,723	$1,518	0.7%	$6.91	—	COM	72201J104
—	NUVEEN CORE EQUITY ALPHA FD	119,658	$1,450	0.7%	$13.35	—	COM	67090X107
—	NEW GERMANY FD INC	203,912	$1,419	0.7%	$14.72	—	COM	644465106
—	BLACKROCK ENHANCED INTL DIV	312,799	$1,398	0.7%	$6.12	—	COM BENE INTER	092524107
—	NUVEEN SHORT DURATION CR OPP	117,028	$1,384	0.7%	$14.58	—	COM	67074X107
XHNWX	PIONEER DIVERSIFIED HIGH INC	132,321	$1,364	0.7%	$12.69	—	COM	723653101
—	WESTERN ASSET DIVERSIFIED IN	106,080	$1,334	0.7%	$12.58	—	COM SHS BEN INT	95790K109
—	BLACKROCK FLOATING RATE INC	120,935	$1,313	0.6%	$11.70	—	COM	091941104
—	NUVEEN CR STRATEGIES INCOME	253,850	$1,297	0.6%	$6.44	—	COM SHS	67073D102
—	WESTERN ASSET HIGH INCOME OP	347,709	$1,280	0.6%	$4.74	—	COM	95766K109
—	NUVEEN REAL ASSET INCOME & G	113,860	$1,270	0.6%	$14.77	—	COM	67074Y105
—	DELAWARE ENHANCED GLOBAL DIV	180,994	$1,238	0.6%	$6.84	—	COM	246060107
—	EATON VANCE SR INCOME TR	228,278	$1,203	0.6%	$6.67	—	SH BEN INT	27826S103
—	BANCROFT FD LTD	68,490	$1,145	0.6%	$22.49	—	COM	059695106
—	INVESCO HIGH INCOME TR II	110,179	$1,076	0.5%	$13.80	—	COM	46131F101
—	BLACKROCK ENHANCED GLOBAL DI	120,963	$1,066	0.5%	$8.81	—	COM	092501105
—	VOYA ASIA PAC HIGH DIV EQT I	174,635	$1,046	0.5%	$8.15	—	COM	92912J102
—	BLACKROCK ENHANCED EQUITY DI	127,956	$1,038	0.5%	$8.11	—	COM	09251A104
—	DELAWARE INVTS DIVID & INCOM	136,711	$994	0.5%	$8.37	—	COM	245915103
—	BLACKSTONE STRATEGIC CREDIT	93,422	$993	0.5%	$12.84	—	COM SHS BEN IN	09257R101
—	BLACKSTONE SENIOR FLOATNG RA	78,680	$988	0.5%	$14.29	—	COM	09256U105
—	COHEN & STEERS QUALITY INCOM	85,820	$965	0.5%	$11.24	—	COM	19247L106
—	NUVEEN EMERGING MKTS DEBT 20	142,192	$915	0.5%	$7.52	—	COM	67077P101
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	93,317	$890	0.4%	$9.54	—	COM SHS	33740D107
—	TEMPLETON DRAGON FD INC	95,084	$885	0.4%	$15.32	—	COM	88018T101
—	SPECIAL OPPORTUNITIES FD INC	78,635	$872	0.4%	$11.09	—	COM	84741T104
—	LMP CAP & INCOME FD INC	76,983	$868	0.4%	$12.50	—	COM	50208A102
—	TEKLA LIFE SCIENCES INVS	61,867	$845	0.4%	$14.78	—	SH BEN INT	87911K100
—	COHEN & STEERS LTD DURATION	44,738	$810	0.4%	$18.72	—	COM	19248C105
—	BLACKROCK ESG CAP ALLC TR	60,945	$781	0.4%	$15.81	—	SHS BEN INT	09262F100
—	MFS MULTIMARKET INCOME TR	181,754	$769	0.4%	$5.23	—	SH BEN INT	552737108
—	EATON VANCE TAX ADVT DIV INC	34,097	$742	0.4%	$21.76	—	COM	27828G107
—	ROYCE VALUE TR INC	58,000	$728	0.4%	$12.55	—	COM	780910105
—	TAIWAN FD INC	33,921	$713	0.4%	$27.77	—	COM	874036106
—	MFS CHARTER INCOME TR	117,973	$702	0.3%	$7.09	—	SH BEN INT	552727109
—	TEKLA HEALTHCARE OPPORTUNITI	38,368	$695	0.3%	$21.58	—	SHS	879105104
—	BLACKROCK FLOATING RATE INCO	62,598	$689	0.3%	$11.68	—	COM	09255X100
—	FIRST TR INTER DURATN PFD &	41,226	$684	0.3%	$16.59	—	COM	33718W103
—	CALAMOS GBL DYN INCOME FUND	111,088	$674	0.3%	$6.07	—	COM	12811L107
—	FRANKLIN LTD DURATION INCOME	108,921	$673	0.3%	$6.75	—	COM	35472T101
—	ANGEL OAK FINL STRATEGIES IN	46,654	$625	0.3%	$13.40	—	COM BEN INT	03464A100
XDCFX	BNY MELLON ALCENTRA GLOBAL C	84,992	$580	0.3%	$6.82	—	COM	05588N108
—	FIRST TR SPECIALTY FIN & FIN	201,051	$575	0.3%	$3.18	—	COM BEN INTR	33733G109
—	MEXICO EQUITY & INCOME FD	74,842	$565	0.3%	$7.66	—	COM	592834105
—	PIMCO DYNAMIC INCOME OPRNTS	42,392	$559	0.3%	$15.55	—	COM BEN SHS	69355M107
—	MORGAN STANLEY CHINA A SH FD	40,884	$552	0.3%	$20.99	—	COM	617468103
—	NEUBERGER BERMAN NEXT GENERA	56,398	$532	0.3%	$15.88	—	COMMON STOCK	64133Q108
—	NUVEEN REAL ESTATE INCOME FD	68,630	$531	0.3%	$7.74	—	COM	67071B108
—	CLOUGH GLOBAL EQUITY FD	76,006	$522	0.3%	$6.87	—	COM	18914C100
—	EATON VANCE LTD DURATION INC	56,271	$518	0.3%	$9.21	—	COM	27828H105
—	DOUBLELINE YIELD OPPORTUNITI	37,859	$511	0.3%	$18.20	—	COM	25862D105
—	FIRST TR ENERGY INFRASTRCTR	38,353	$511	0.3%	$13.62	—	COM	33738C103
—	GABELLI GLOBAL SMALL & MID C	52,897	$504	0.2%	$9.92	—	COM	36249W104
—	ROYCE GLOBAL VALUE TR INC	62,552	$502	0.2%	$10.62	—	COM	78081T104
—	JAPAN SMALLER CAPITALIZATION	80,043	$469	0.2%	$7.70	—	COM	47109U104
—	NUVEEN FLOATING RATE INCOME	56,103	$452	0.2%	$8.17	—	COM SHS	6706EN100
—	HANCOCK JOHN TAX-ADVANTAGED	21,103	$442	0.2%	$20.94	—	COM	41013V100
XXCHNXX	CHINA FD INC	37,586	$438	0.2%	$23.19	—	COM	169373107
—	PIMCO INCOME STRATEGY FD	53,801	$429	0.2%	$7.97	—	COM	72201H108
—	COHEN & STEERS CLOSED-END OP	43,564	$423	0.2%	$9.71	—	COM	19248P106
—	CLOUGH GLOBAL DIVID & INCOME	60,735	$404	0.2%	$10.72	—	COM	18913Y103
—	NUVEEN PFD & INCOME OPPORTUN	57,210	$398	0.2%	$7.61	—	COM	67073B106
—	PGIM HIGH YIELD BOND FUND IN	32,395	$374	0.2%	$11.54	—	COM	69346H100
—	ALLIANCEBERNSTEIN GLOBAL HIG	41,901	$372	0.2%	$8.88	—	COM	01879R106
—	EATON VANCE TAX-MANAGED GLOB	48,459	$351	0.2%	$8.77	—	COM	27829F108
—	FIRST TR HIGH YIELD OPPRT 20	25,388	$342	0.2%	$16.43	—	COM	33741Q107
—	VOYA EMERGING MKTS HIGH DIVI	68,904	$339	0.2%	$6.87	—	COM	92912P108
—	FIRST TR SR FLTG RATE INCOME	33,101	$331	0.2%	$9.99	—	COM	33733U108
—	EATON VANCE TX ADV GLBL DIV	19,931	$301	0.1%	$20.95	—	COM	27828S101
—	HANCOCK JOHN INVT TR	65,800	$292	0.1%	$4.74	—	TAX ADV GLB SH	41013P749
—	COHEN & STEERS SELECT PFD &	15,861	$285	0.1%	$17.97	—	COM	19248Y107
—	EATON VANCE TAX-ADVANTAGED G	13,910	$282	0.1%	$22.11	—	COM	27828U106
—	TEMPLETON EMERGING MKTS FD	26,752	$277	0.1%	$14.71	—	COM	880191101
XAWPX	ABRDN GLOBAL PREMIER PPTYS F	72,601	$277	0.1%	$3.82	—	COM SH BEN INT	00302L108
—	CREDIT SUISSE HIGH YIELD BD	155,239	$273	0.1%	$2.34	—	SH BEN INT	22544F103
—	COHEN & STEERS TAX ADVAN PFD	14,845	$269	0.1%	$18.12	—	COM	19249X108
—	MAINSTAY CBRE GBL INFRSTR ME	21,438	$265	0.1%	$17.86	—	COM	56064Q107
—	PUTNAM PREMIER INCOME TR	72,246	$259	0.1%	$4.36	—	SH BEN INT	746853100
—	LAZARD GLOBAL TOTAL RETURN &	18,832	$255	0.1%	$13.54	—	COM	52106W103
—	NUVEEN GLOBAL HIGH INCOME FD	23,872	$252	0.1%	$11.01	—	SHS	67075G103
—	VIRTUS CONVERTIBLE & INC FD	86,710	$245	0.1%	$3.75	—	COM	92838U108
—	VOYA INFRASTRUCTURE INDLS &	26,195	$232	0.1%	$11.95	—	COM	92912X101
—	WESTERN AST INFL LKD OPP & I	25,430	$231	0.1%	$9.08	—	COM	95766R104
—	VIRTUS ARTIFICIAL INTELLIGEN	14,574	$227	0.1%	$20.74	—	COM	92838Y100
—	BLACKROCK CR ALLOCATION INCO	22,879	$218	0.1%	$9.53	—	COM	092508100
—	FIRST TR ABRDN GBL OPP INCM	38,972	$213	0.1%	$5.47	—	COM SHS	337319107
—	KOREA FD INC	11,069	$213	0.1%	$37.79	—	COM NEW	500634209
—	TEMPLETON EMERGING MKTS INCO	47,633	$211	0.1%	$7.09	—	COM	880192109
—	PGIM SHORT DUR HIG YLD OPP F	14,621	$210	0.1%	$17.29	—	COM	69355J104
—	CLOUGH GLOBAL OPPORTUNITIES	36,560	$203	0.1%	$5.55	—	SH BEN INT	18914E106
—	ALLSPRING MULTI SECTOR INCOM	23,213	$200	0.1%	$10.41	—	COM	94987D101
—	NUVEEN S&P 500 BUY-WRITE INC	16,740	$199	0.1%	$12.50	—	COM	6706ER101
—	FRANKLIN UNVL TR	31,007	$196	0.1%	$6.32	—	SH BEN INT	355145103
—	ELLSWORTH GROWTH & INCOME FD	24,200	$194	0.1%	$12.29	—	COM	289074106
—	LIBERTY ALL-STAR GROWTH FD I	38,967	$193	0.1%	$4.95	—	COM	529900102
—	THORNBURG INCM BUILDER OPP T	14,500	$185	0.1%	$18.67	—	COM	885213108
—	ALLSPRING UTILITIES AND HIGH	16,757	$183	0.1%	$10.92	—	WF UTILITIES INC	94987E109
XJEQX	ABRDN JAPAN EQUITY FUND INC	35,451	$178	0.1%	$7.45	—	COM	00306J109
—	PUTNAM MASTER INTER INCOME T	51,978	$169	0.1%	$4.17	—	SH BEN INT	746909100
—	BLACKROCK CORPOR HI YLD FD I	18,679	$160	0.1%	$8.57	—	COM	09255P107
—	INVESCO SR INCOME TR	39,761	$148	0.1%	$3.85	—	COM	46131H107
—	LIBERTY ALL STAR EQUITY FD	26,000	$144	0.1%	$5.54	—	SH BEN INT	530158104
—	RIVERNORTH DOUBLELINE STRATE	15,000	$138	0.1%	$12.46	—	COM	76882G107
—	EATON VANCE TAX-MANAGED GLOB	17,600	$133	0.1%	$8.31	—	COM	27829C105
XFEOX	FIRST TR ABRDN EMERGING OPP	13,000	$116	0.1%	$8.92	—	COM	33731K102
—	ABRDN AUSTRALIA EQUITY FD IN	28,173	$114	0.1%	$5.05	—	COM	003011103
—	ABRDN EMRG MKTS EQTY INCM FD	21,688	$99	0.0%	$8.64	—	COM	00301W105
—	MADISON COVERED CALL & EQUIT	15,118	$98	0.0%	$6.78	—	COM	557437100
—	MFS INTER INCOME TR	16,000	$45	0.0%	$2.81	—	SH BEN INT	55273C107