Shaker Financial Services, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	FIRST TR ENHANCED EQUITY INC	559,371	$8,816	4.1%	$15.50	—	COM	337318109
—	GABELLI DIVID & INCOME TR	375,023	$7,762	3.6%	$24.53	—	COM	36242H104
—	ROYCE VALUE TR INC	502,250	$6,660	3.1%	$13.18	—	COM	780910105
—	ADAMS DIVERSIFIED EQUITY FD	408,214	$5,935	2.8%	$17.11	—	COM	006212104
—	SRH TOTAL RETURN FUND INC	437,441	$5,556	2.6%	$11.87	—	COM	101507101
—	CENTRAL SECS CORP	162,623	$5,430	2.5%	$32.25	—	COM	155123102
—	SPROTT FOCUS TR INC	609,475	$4,858	2.3%	$7.68	—	COM	85208J109
—	GENERAL AMERN INVS CO INC	124,938	$4,517	2.1%	$41.29	—	COM	368802104
—	VIRTUS DIVIDEND INTEREST & P	399,655	$4,515	2.1%	$13.45	—	COM	92840R101
—	EATON VANCE TAX-MANAGED GLOB	517,836	$4,018	1.9%	$7.78	—	COM	27829C105
—	CALAMOS LNG SHR EQT DYNAMIC	258,144	$3,957	1.9%	$16.83	—	COM	12812C106
—	EATON VANCE TX ADV GLBL DIV	253,106	$3,822	1.8%	$15.56	—	COM	27828S101
—	BLACKROCK DEBT STRATEGIES FD	391,567	$3,602	1.7%	$9.69	—	COM NEW	09255R202
—	LIBERTY ALL STAR EQUITY FD	619,249	$3,552	1.7%	$5.73	—	SH BEN INT	530158104
—	PIMCO INCOME STRATEGY FD II	451,201	$3,213	1.5%	$7.02	—	COM	72201J104
—	HIGHLAND GLOBAL ALLOCATION F	325,558	$3,067	1.4%	$9.29	—	COM	43010T104
—	EATON VANCE RISK-MANAGED DIV	403,096	$3,023	1.4%	$7.50	—	COM	27829G106
XPHTX	PIONEER HIGH INCOME FUND INC	464,057	$3,016	1.4%	$7.58	—	COM	72369H106
—	VIRTUS GLOBAL MULTI-SECTOR I	378,896	$2,967	1.4%	$10.88	—	COM	92829B101
—	EATON VANCE SR FLTNG RTE TR	263,777	$2,907	1.4%	$11.95	—	COM	27828Q105
—	EATON VANCE TAX ADVT DIV INC	126,658	$2,888	1.4%	$22.52	—	COM	27828G107
—	ABRDN TOTAL DYNAMIC DIVIDEND	358,838	$2,820	1.3%	$8.17	—	COM SH BEN INT	00326L100
—	ABRDN GLOBAL DYNAMIC DIVIDEN	286,185	$2,726	1.3%	$11.34	—	COM	00302M106
—	NUVEEN SR INCOME FD	586,360	$2,691	1.3%	$5.47	—	COM	67067Y104
—	VOYA GLBL ADV & PREM OPP FD	302,241	$2,689	1.3%	$9.67	—	COM	92912R104
—	LIBERTY ALL-STAR GROWTH FD I	530,066	$2,659	1.2%	$5.01	—	COM	529900102
—	ARES DYNAMIC CR ALLOCATION F	217,995	$2,527	1.2%	$15.53	—	COM	04014F102
—	EATON VANCE TAX-MANAGED GLOB	331,911	$2,506	1.2%	$7.73	—	COM	27829F108
—	BLACKSTONE LONG SHORT CR INC	226,216	$2,452	1.1%	$13.40	—	COM SHS BN INT	09257D102
—	BLACKROCK ENHANCD CAP & INM	131,184	$2,246	1.1%	$18.05	—	COM	09256A109
—	SOURCE CAP INC	57,573	$2,226	1.0%	$39.59	—	COM	836144105
—	CALAMOS GBL DYN INCOME FUND	394,729	$2,220	1.0%	$5.75	—	COM	12811L107
—	CALAMOS STRATEGIC TOTAL RETU	160,984	$2,175	1.0%	$14.33	—	COM SH BEN INT	128125101
—	NUVEEN PFD & INCOME SECS FD	307,060	$2,088	1.0%	$8.68	—	COM	67072C105
—	PIMCO INCOME STRATEGY FD	249,534	$2,038	1.0%	$8.13	—	COM	72201H108
—	EUROPEAN EQUITY FD INC	249,004	$1,904	0.9%	$9.69	—	COM	298768102
—	WESTERN ASSET GBL HIGH INC F	268,859	$1,828	0.9%	$10.18	—	COM	95766B109
—	EATON VANCE FLTING RATE INC	163,353	$1,824	0.9%	$12.83	—	COM	278279104
XHNWX	PIONEER DIVERSIFIED HIGH INC	179,693	$1,811	0.8%	$12.00	—	COM	723653101
—	CLOUGH GLOBAL OPPORTUNITIES	354,211	$1,796	0.8%	$5.12	—	SH BEN INT	18914E106
—	SWISS HELVETIA FD INC	229,494	$1,735	0.8%	$8.01	—	COM	870875101
—	APOLLO SR FLOATING RATE FD I	138,990	$1,715	0.8%	$14.53	—	COM	037636107
—	BANCROFT FD LTD	102,804	$1,684	0.8%	$20.45	—	COM	059695106
—	ALLSPRING INCOME OPPORTUNIT	261,202	$1,672	0.8%	$7.94	—	INC OPPTY FD	94987B105
—	BLACKROCK CORPOR HI YLD FD I	190,313	$1,663	0.8%	$8.72	—	COM	09255P107
—	WESTERN ASSET HIGH INCOME OP	417,364	$1,649	0.8%	$4.60	—	COM	95766K109
—	SPECIAL OPPORTUNITIES FD INC	143,431	$1,635	0.8%	$11.23	—	COM	84741T104
—	NEW GERMANY FD INC	205,864	$1,633	0.8%	$14.72	—	COM	644465106
—	BLACKROCK FLOATING RATE INC	144,293	$1,579	0.7%	$11.58	—	COM	091941104
—	NUVEEN FLOATING RATE INCOME	197,273	$1,562	0.7%	$9.20	—	COM	67072T108
—	FIRST TR HIGH INCOME LONG /	135,011	$1,546	0.7%	$13.63	—	COM	33738E109
—	CBRE GBL REAL ESTATE INC FD	267,476	$1,533	0.7%	$5.73	—	COM	12504G100
—	NUVEEN DOW 30 DYNMC OVERWRT	94,159	$1,460	0.7%	$16.51	—	SHS	67075F105
—	KKR INCOME OPPORTUNITIES FD	131,209	$1,445	0.7%	$13.30	—	COM	48249T106
—	TRI CONTL CORP	53,962	$1,383	0.6%	$25.63	—	COM	895436103
—	EATON VANCE LTD DURATION INC	147,020	$1,381	0.6%	$9.32	—	COM	27828H105
—	LMP CAP & INCOME FD INC	101,704	$1,225	0.6%	$12.39	—	COM	50208A102
—	BARINGS GLOBAL SHORT DURATIO	88,257	$1,138	0.5%	$14.97	—	COM	06760L100
—	INVESCO HIGH INCOME TR II	109,164	$1,120	0.5%	$13.80	—	COM	46131F101
—	VOYA ASIA PAC HIGH DIV EQT I	174,635	$1,108	0.5%	$8.15	—	COM	92912J102
—	ADVENT CONV & INCOME FD	97,063	$1,058	0.5%	$10.90	—	COM	00764C109
—	BNY MELLON HIGH YIELD STRATE	470,583	$1,024	0.5%	$2.92	—	SH BEN INT	09660L105
—	HANCOCK JOHN PFD INCOME FD	63,144	$1,021	0.5%	$16.17	—	SH BEN INT	41013W108
—	TEKLA HEALTHCARE OPPORTUNITI	50,367	$998	0.5%	$21.16	—	SHS	879105104
—	BLACKROCK ENHANCED INTL DIV	196,415	$986	0.5%	$6.12	—	COM BENE INTER	092524107
—	NUVEEN REAL ASSET INCOME & G	83,312	$975	0.5%	$14.77	—	COM	67074Y105
—	NUVEEN SHORT DURATION CR OPP	82,020	$973	0.5%	$14.58	—	COM	67074X107
—	EATON VANCE TAX-ADVANTAGED G	45,787	$959	0.4%	$21.29	—	COM	27828U106
—	PIMCO DYNAMIC INCOME OPRNTS	74,309	$949	0.4%	$14.36	—	COM BEN SHS	69355M107
—	TEMPLETON DRAGON FD INC	92,084	$941	0.4%	$15.32	—	COM	88018T101
—	TEKLA LIFE SCIENCES INVS	65,028	$924	0.4%	$14.76	—	SH BEN INT	87911K100
—	FRANKLIN LTD DURATION INCOME	147,671	$917	0.4%	$6.61	—	COM	35472T101
—	BLACKSTONE SENIOR FLOATNG RA	73,687	$916	0.4%	$14.29	—	COM	09256U105
—	PUTNAM PREMIER INCOME TR	246,804	$902	0.4%	$3.86	—	SH BEN INT	746853100
—	APOLLO TACTICAL INCOME FD IN	73,389	$889	0.4%	$14.66	—	COM	037638103
—	JOHN HANCOCK HEDGED EQUITY &	77,172	$887	0.4%	$11.50	—	COM	47804L102
—	WESTERN ASSET DIVERSIFIED IN	69,027	$877	0.4%	$12.58	—	COM SHS BEN INT	95790K109
—	MFS MULTIMARKET INCOME TR	188,020	$848	0.4%	$5.21	—	SH BEN INT	552737108
—	BLACKROCK ENHANCED GLOBAL DI	88,584	$847	0.4%	$8.81	—	COM	092501105
XPHDX	PIONEER FLOATING RATE FUND I	93,031	$824	0.4%	$10.11	—	COM	72369J102
—	TAIWAN FD INC	33,921	$783	0.4%	$27.77	—	COM	874036106
—	BLACKROCK FLOATING RATE INCO	69,141	$779	0.4%	$11.64	—	COM	09255X100
—	PGIM HIGH YIELD BOND FUND IN	64,978	$778	0.4%	$11.76	—	COM	69346H100
—	NUVEEN CR STRATEGIES INCOME	150,680	$767	0.4%	$6.44	—	COM SHS	67073D102
—	FRANKLIN UNVL TR	110,605	$744	0.3%	$6.62	—	SH BEN INT	355145103
—	ROYCE GLOBAL VALUE TR INC	85,832	$742	0.3%	$10.09	—	COM	78081T104
—	HANCOCK JOHN INVT TR	149,623	$742	0.3%	$4.86	—	TAX ADV GLB SH	41013P749
—	HANCOCK JOHN INVS TR	57,505	$721	0.3%	$12.54	—	COM	410142103
—	TEMPLETON GLOBAL INCOME FD	165,851	$718	0.3%	$4.33	—	COM	880198106
—	NUVEEN GLOBAL HIGH INCOME FD	62,999	$709	0.3%	$11.16	—	SHS	67075G103
—	MEXICO EQUITY & INCOME FD	78,542	$690	0.3%	$7.71	—	COM	592834105
—	DELAWARE ENHANCED GLOBAL DIV	87,449	$682	0.3%	$6.84	—	COM	246060107
—	COHEN & STEERS LTD DURATION	34,781	$662	0.3%	$18.72	—	COM	19248C105
—	NUVEEN MULTI ASSET INCOME FU	55,004	$632	0.3%	$13.72	—	COM	670750108
—	MORGAN STANLEY CHINA A SH FD	40,884	$581	0.3%	$20.99	—	COM	617468103
—	PGIM GLOBAL HIGH YIELD FD FO	52,719	$577	0.3%	$10.95	—	COM	69346J106
—	THORNBURG INCM BUILDER OPP T	40,063	$572	0.3%	$15.87	—	COM	885213108
—	ROYCE MICRO-CAP TR INC	64,815	$563	0.3%	$9.26	—	COM	780915104
—	EATON VANCE SR INCOME TR	99,196	$528	0.2%	$6.67	—	SH BEN INT	27826S103
—	NEUBERGER BERMAN NEXT GENERA	56,398	$513	0.2%	$15.88	—	COMMON STOCK	64133Q108
XXCHNXX	CHINA FD INC	37,586	$511	0.2%	$23.19	—	COM	169373107
—	TEMPLETON EMERGING MKTS INCO	93,001	$511	0.2%	$6.31	—	COM	880192109
—	BLACKROCK INNOVATION AND GRW	74,722	$509	0.2%	$6.81	—	SHS BEN INT	09260Q108
—	JAPAN SMALLER CAPITALIZATION	75,633	$490	0.2%	$7.70	—	COM	47109U104
—	CALAMOS GLOBAL TOTAL RETURN	52,843	$471	0.2%	$8.90	—	COM SH BEN INT	128118106
—	CLOUGH GLOBAL EQUITY FD	70,484	$459	0.2%	$6.87	—	COM	18914C100
—	FIRST TR HIGH YIELD OPPRT 20	32,193	$438	0.2%	$15.83	—	COM	33741Q107
—	VIRTUS ARTIFICIAL INTELLIGEN	26,666	$436	0.2%	$18.75	—	COM	92838Y100
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	38,001	$429	0.2%	$9.54	—	COM SHS	33740D107
—	NUVEEN FLOATING RATE INCOME	54,693	$427	0.2%	$8.17	—	COM SHS	6706EN100
—	BLACKROCK ESG CAP ALLC TR	30,977	$416	0.2%	$15.81	—	SHS BEN INT	09262F100
—	CLOUGH GLOBAL DIVID & INCOME	62,265	$398	0.2%	$10.61	—	COM	18913Y103
—	NUVEEN PFD & INCOME OPPORTUN	54,473	$397	0.2%	$7.61	—	COM	67073B106
—	WESTERN ASSET EMERGING MKTS	41,384	$377	0.2%	$9.11	—	COM	95766A101
—	VOYA EMERGING MKTS HIGH DIVI	68,904	$368	0.2%	$6.87	—	COM	92912P108
—	PUTNAM MASTER INTER INCOME T	110,766	$357	0.2%	$3.67	—	SH BEN INT	746909100
—	MEXICO FD INC	24,124	$356	0.2%	$14.74	—	COM	592835102
—	FIRST TR SR FLTG RATE INCOME	36,676	$350	0.2%	$9.94	—	COM	33733U108
—	MFS CHARTER INCOME TR	56,710	$349	0.2%	$7.09	—	SH BEN INT	552727109
—	PRINCIPAL REAL ESTATE INCOME	33,406	$346	0.2%	$10.35	—	SHS BEN INT	74255X104
—	TEKLA HEALTHCARE INVS	19,000	$342	0.2%	$18.00	—	SH BEN INT	87911J103
—	FIRST TR ENERGY INFRASTRCTR	21,976	$317	0.1%	$13.62	—	COM	33738C103
—	FIRST TR SPECIALTY FIN & FIN	103,546	$317	0.1%	$3.18	—	COM BEN INTR	33733G109
—	COHEN & STEERS INFRASTRUCTUR	13,000	$312	0.1%	$23.99	—	COM	19248A109
—	TEMPLETON EMERGING MKTS FD	26,752	$306	0.1%	$14.71	—	COM	880191101
—	DOUBLELINE INCOME SOLUTIONS	26,549	$294	0.1%	$14.98	—	COM	258622109
—	FLAHERTY & CRUMRINE DYNAMIC	15,729	$294	0.1%	$18.71	—	SHS	33848W106
—	COHEN & STEERS SELECT PFD &	15,716	$294	0.1%	$17.97	—	COM	19248Y107
—	BLACKROCK CR ALLOCATION INCO	29,040	$293	0.1%	$9.65	—	COM	092508100
XMFVX	MFS SPL VALUE TR	60,622	$253	0.1%	$4.18	—	SH BEN INT	55274E102
—	KOREA FD INC	11,069	$238	0.1%	$37.79	—	COM NEW	500634209
—	CREDIT SUISSE ASSET MGMT INC	94,120	$237	0.1%	$2.52	—	COM	224916106
—	HANCOCK JOHN PFD INCOME FD I	14,787	$232	0.1%	$15.68	—	COM	41013X106
XTEAX	ECOFIN SUSTAINABLE AND SOCIA	16,124	$207	0.1%	$12.85	—	COM SH BEN INT	27901F109
XDCFX	BNY MELLON ALCENTRA GLOBAL C	27,845	$198	0.1%	$6.82	—	COM	05588N108
XJEQX	ABRDN JAPAN EQUITY FUND INC	35,451	$191	0.1%	$7.45	—	COM	00306J109
—	COHEN & STEERS CLOSED-END OP	18,043	$189	0.1%	$9.71	—	COM	19248P106
—	ELLSWORTH GROWTH & INCOME FD	22,768	$182	0.1%	$12.29	—	COM	289074106
—	ALLIANCEBERNSTEIN GLOBAL HIG	18,999	$177	0.1%	$8.88	—	COM	01879R106
—	ALLSPRING GLOBAL DIVIDEND OP	38,132	$167	0.1%	$4.37	—	COM	94987C103
—	VOYA INFRASTRUCTURE INDLS &	16,702	$157	0.1%	$11.95	—	COM	92912X101
—	ALLSPRING UTILITIES AND HIGH	13,748	$155	0.1%	$10.92	—	WF UTILITIES INC	94987E109
—	PIMCO HIGH INCOME FD	27,552	$132	0.1%	$4.78	—	COM SHS	722014107
—	ABRDN AUSTRALIA EQUITY FD IN	28,173	$127	0.1%	$5.05	—	COM	003011103
XAWPX	ABRDN GLOBAL PREMIER PPTYS F	30,510	$120	0.1%	$3.82	—	COM SH BEN INT	00302L108
—	ABRDN EMRG MKTS EQTY INCM FD	21,688	$114	0.1%	$8.64	—	COM	00301W105
—	VIRTUS TOTAL RETURN FD INC	12,000	$79	0.0%	$6.55	—	COM	92835W107