Shaker Financial Services, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	SRH TOTAL RETURN FUND INC	593,426	$7,881	3.4%	$12.00	—	COM	101507101
—	GABELLI DIVID & INCOME TR	352,452	$7,447	3.3%	$24.48	—	COM	36242H104
—	CENTRAL SECS CORP	194,323	$7,095	3.1%	$32.90	—	COM	155123102
—	EATON VANCE TX ADV GLBL DIV	392,328	$6,552	2.9%	$15.85	—	COM	27828S101
—	NUVEEN DOW 30 DYNMC OVERWRT	429,758	$6,172	2.7%	$15.06	—	SHS	67075F105
—	BLACKROCK ENHANCED EQUITY DI	655,940	$5,471	2.4%	$8.37	—	COM	09251A104
—	GENERAL AMERN INVS CO INC	116,895	$4,877	2.1%	$41.33	—	COM	368802104
—	ROYCE VALUE TR INC	333,244	$4,599	2.0%	$13.20	—	COM	780910105
—	SPROTT FOCUS TR INC	550,834	$4,379	1.9%	$7.70	—	COM	85208J109
—	SOURCE CAP INC	111,632	$4,278	1.9%	$38.46	—	COM	836144105
—	BLACKROCK DEBT STRATEGIES FD	409,610	$4,010	1.8%	$9.67	—	COM NEW	09255R202
—	ALLSPRING INCOME OPPORTUNIT	539,661	$3,506	1.5%	$7.14	—	INC OPPTY FD	94987B105
—	EATON VANCE TAX-MANAGED GLOB	431,994	$3,421	1.5%	$7.76	—	COM	27829F108
—	HIGHLAND GLOBAL ALLOCATION F	394,874	$3,416	1.5%	$9.12	—	COM	43010T104
—	NUVEEN S&P 500 BUY-WRITE INC	242,230	$3,274	1.4%	$13.41	—	COM	6706ER101
—	CALAMOS LNG SHR EQT DYNAMIC	210,057	$3,250	1.4%	$16.71	—	COM	12812C106
—	VIRTUS GLOBAL MULTI-SECTOR I	411,802	$3,076	1.3%	$10.61	—	COM	92829B101
—	LIBERTY ALL-STAR GROWTH FD I	562,719	$3,044	1.3%	$5.06	—	COM	529900102
—	VOYA GLBL ADV & PREM OPP FD	328,889	$2,809	1.2%	$9.46	—	COM	92912R104
—	ADAMS DIVERSIFIED EQUITY FD	164,908	$2,772	1.2%	$17.11	—	COM	006212104
—	CALAMOS GBL DYN INCOME FUND	451,359	$2,717	1.2%	$5.78	—	COM	12811L107
—	FIRST TR ENHANCED EQUITY INC	152,780	$2,678	1.2%	$15.50	—	COM	337318109
—	NUVEEN SR INCOME FD	569,336	$2,632	1.1%	$5.46	—	COM	67067Y104
—	EATON VANCE SR FLTNG RTE TR	221,220	$2,599	1.1%	$11.94	—	COM	27828Q105
—	SPECIAL OPPORTUNITIES FD INC	226,137	$2,537	1.1%	$11.15	—	COM	84741T104
—	FRANKLIN LTD DURATION INCOME	397,792	$2,458	1.1%	$6.33	—	COM	35472T101
—	RIVERNORTH DOUBLELINE STRATE	282,736	$2,415	1.1%	$8.56	—	COM	76882G107
—	NUVEEN S&P 500 DYNAMIC OVERW	151,233	$2,412	1.1%	$15.90	—	COM	6706EW100
XHNWX	PIONEER DIVERSIFIED HIGH INC	237,066	$2,394	1.0%	$11.54	—	COM	723653101
—	EUROPEAN EQUITY FD INC	276,886	$2,384	1.0%	$9.57	—	COM	298768102
—	SWISS HELVETIA FD INC	289,157	$2,377	1.0%	$8.00	—	COM	870875101
XPHTX	PIONEER HIGH INCOME FUND INC	348,092	$2,339	1.0%	$7.52	—	COM	72369H106
—	EATON VANCE TAX ADVT DIV INC	98,767	$2,247	1.0%	$22.52	—	COM	27828G107
—	EATON VANCE TAX-MANAGED GLOB	263,227	$2,164	0.9%	$7.79	—	COM	27829C105
—	EATON VANCE LTD DURATION INC	229,645	$2,149	0.9%	$9.35	—	COM	27828H105
—	NUVEEN PFD & INCOME SECS FD	334,224	$2,144	0.9%	$8.50	—	COM	67072C105
—	NUVEEN CORE EQUITY ALPHA FD	164,508	$2,121	0.9%	$12.72	—	COM	67090X107
—	EATON VANCE FLTING RATE INC	175,435	$2,049	0.9%	$12.69	—	COM	278279104
—	NEW GERMANY FD INC	220,862	$1,983	0.9%	$14.33	—	COM	644465106
—	TRI CONTL CORP	70,746	$1,940	0.8%	$26.64	—	COM	895436103
—	APOLLO TACTICAL INCOME FD IN	150,946	$1,916	0.8%	$13.31	—	COM	037638103
—	NUVEEN MULTI ASSET INCOME FU	157,241	$1,875	0.8%	$12.42	—	COM	670750108
—	RIVERNORTH OPPORTUNITIES FD	160,715	$1,839	0.8%	$11.36	—	COM	76881Y109
—	HANCOCK JOHN INVT TR II	144,945	$1,832	0.8%	$12.63	—	COM	410142103
—	CLOUGH GLOBAL OPPORTUNITIES	364,636	$1,827	0.8%	$5.09	—	SH BEN INT	18914E106
—	BANCROFT FD LTD	106,701	$1,824	0.8%	$20.24	—	COM	059695106
—	CALAMOS STRATEGIC TOTAL RETU	122,271	$1,803	0.8%	$14.60	—	COM SH BEN INT	128125101
—	PIMCO INCOME STRATEGY FD	215,945	$1,786	0.8%	$8.16	—	COM	72201H108
—	BLACKROCK CORPOR HI YLD FD I	200,048	$1,784	0.8%	$8.72	—	COM	09255P107
—	EATON VANCE ENHANCED EQUITY	98,821	$1,768	0.8%	$16.40	—	COM	278277108
—	ALLSPRING GLOBAL DIVIDEND OP	394,154	$1,754	0.8%	$4.46	—	COM	94987C103
—	BLACKSTONE LONG SHORT CR INC	153,064	$1,736	0.8%	$13.40	—	COM SHS BN INT	09257D102
—	ADVENT CONV & INCOME FD	140,760	$1,650	0.7%	$11.23	—	COM	00764C109
—	ABRDN GLOBAL DYNAMIC DIVIDEN	169,038	$1,613	0.7%	$11.30	—	COM	00302M106
—	PIMCO INCOME STRATEGY FD II	221,045	$1,609	0.7%	$7.09	—	COM	72201J104
—	BLACKROCK LTD DURATION INCOM	120,680	$1,554	0.7%	$12.88	—	COM SHS	09249W101
—	FIRST TR INTER DURATN PFD &	99,592	$1,545	0.7%	$15.76	—	COM	33718W103
—	JOHN HANCOCK HEDGED EQUITY &	135,827	$1,464	0.6%	$10.90	—	COM	47804L102
—	FIRST TR HIGH INCOME LONG /	127,676	$1,461	0.6%	$13.26	—	COM	33738E109
—	EATON VANCE TAX MNGED BUY WR	103,652	$1,440	0.6%	$13.05	—	COM	27828X100
—	ALLSPRING MULTI SECTOR INCOM	149,947	$1,398	0.6%	$9.29	—	COM	94987D101
XTEAX	ECOFIN SUSTAINABLE AND SOCIA	105,931	$1,322	0.6%	$12.78	—	COM SH BEN INT	27901F109
—	BNY MELLON HIGH YIELD STRATE	585,665	$1,300	0.6%	$2.77	—	SH BEN INT	09660L105
—	WESTERN ASSET EMERGING MKTS	146,883	$1,272	0.6%	$8.79	—	COM	95766A101
—	ROYCE MICRO-CAP TR INC	142,573	$1,248	0.5%	$8.98	—	COM	780915104
—	EATON VANCE TAX-MANAGED BUY-	95,333	$1,218	0.5%	$12.78	—	COM	27828Y108
—	PGIM SHORT DUR HIG YLD OPP F	79,823	$1,189	0.5%	$14.87	—	COM	69355J104
—	COHEN & STEERS CLOSED-END OP	108,816	$1,169	0.5%	$10.74	—	COM	19248P106
—	VOYA ASIA PAC HIGH DIV EQT I	184,489	$1,133	0.5%	$8.01	—	COM	92912J102
—	COHEN & STEERS LTD DURATION	61,633	$1,122	0.5%	$18.27	—	COM	19248C105
—	INVESCO HIGH INCOME TR II	106,664	$1,120	0.5%	$13.42	—	COM	46131F101
—	PIMCO DYNAMIC INCOME OPRNTS	84,046	$1,111	0.5%	$14.12	—	COM BEN SHS	69355M107
—	NUVEEN PFD & INCOME OPPORTUN	166,631	$1,087	0.5%	$6.94	—	COM	67073B106
—	HANCOCK JOHN PFD INCOME FD	71,030	$1,082	0.5%	$15.66	—	SH BEN INT	41013W108
—	TEMPLETON DRAGON FD INC	118,649	$1,081	0.5%	$14.04	—	COM	88018T101
—	TAIWAN FD INC	33,921	$1,063	0.5%	$27.77	—	COM	874036106
—	FIRST TR SR FLTG RATE INCOME	106,695	$1,056	0.5%	$9.95	—	COM	33733U108
—	BLACKSTONE SENI FLTN RAT 202	76,265	$978	0.4%	$14.14	—	COM	09256U105
—	NUVEEN REAL ASSET INCOME & G	81,804	$941	0.4%	$14.77	—	COM	67074Y105
—	BLACKROCK ENHANCD CAP & INM	48,528	$898	0.4%	$18.51	—	COM	09256A109
—	MEXICO EQUITY & INCOME FD	88,775	$891	0.4%	$7.98	—	COM	592834105
—	TEKLA LIFE SCIENCES INVS	65,186	$883	0.4%	$14.74	—	SH BEN INT	87911K100
—	NUVEEN SHORT DURATION CR OPP	74,251	$866	0.4%	$14.58	—	COM	67074X107
SPY	SPDR S&P 500 ETF TR	1,950	$864	0.4%	$443.28	—	TR UNIT	78462F103
—	ARES DYNAMIC CR ALLOCATION F	66,749	$823	0.4%	$13.97	—	COM	04014F102
—	ANGEL OAK FINL STRATEGIES IN	69,302	$818	0.4%	$12.18	—	COM BEN INT	03464A100
—	ROYCE GLOBAL VALUE TR INC	86,162	$796	0.3%	$9.85	—	COM	78081T104
—	WESTERN ASSET DIVERSIFIED IN	56,562	$769	0.3%	$12.73	—	COM SHS BEN INT	95790K109
—	PGIM GLOBAL HIGH YIELD FD FO	70,111	$769	0.3%	$10.95	—	COM	69346J106
—	VIRTUS DIVERSIFIED INCM & CO	37,650	$759	0.3%	$19.72	—	COM	92840N100
XPHDX	PIONEER FLOATING RATE FUND I	86,286	$749	0.3%	$10.11	—	COM	72369J102
—	EATON VANCE SHORT DURATION D	74,140	$727	0.3%	$9.81	—	COM	27828V104
—	BRANDYWINEGBL GBL INCM OPP F	88,996	$723	0.3%	$8.06	—	COM	10537L104
—	HANCOCK JOHN INVT TR	144,901	$680	0.3%	$4.83	—	TAX ADV GLB SH	41013P749
—	FIRST TR HIGH YIELD OPPRT 20	48,835	$670	0.3%	$14.36	—	COM	33741Q107
—	MFS CHARTER INCOME TR	104,991	$662	0.3%	$6.46	—	SH BEN INT	552727109
—	NUVEEN FLOATING RATE INCOME	83,333	$656	0.3%	$8.13	—	COM SHS	6706EN100
—	INVESCO SR INCOME TR	169,967	$654	0.3%	$3.69	—	COM	46131H107
—	NEUBERGER BERMAN NEXT GENERA	59,168	$646	0.3%	$14.85	—	COMMON STOCK	64133Q108
—	TEMPLETON EMERGING MKTS INCO	125,269	$645	0.3%	$5.70	—	COM	880192109
—	NUVEEN GLOBAL HIGH INCOME FD	56,583	$638	0.3%	$11.19	—	SHS	67075G103
—	PUTNAM PREMIER INCOME TR	175,514	$621	0.3%	$3.84	—	SH BEN INT	746853100
XXCHNXX	CHINA FD INC	53,424	$591	0.3%	$19.75	—	COM	169373107
XMFVX	MFS SPL VALUE TR	138,971	$567	0.2%	$4.13	—	SH BEN INT	55274E102
—	NUVEEN TAXABLE MUNICPAL INM	34,918	$550	0.2%	$16.20	—	COM	67074C103
—	JAPAN SMALLER CAPITALIZATION	75,633	$545	0.2%	$7.70	—	COM	47109U104
—	PGIM HIGH YIELD BOND FUND IN	42,230	$525	0.2%	$11.94	—	COM	69346H100
—	MORGAN STANLEY CHINA A SH FD	40,329	$513	0.2%	$20.99	—	COM	617468103
—	CLOUGH GLOBAL EQUITY FD	80,870	$505	0.2%	$6.75	—	COM	18914C100
—	TEMPLETON GLOBAL INCOME FD	119,315	$494	0.2%	$4.33	—	COM	880198106
—	EATON VANCE ENHANCED EQUITY	29,814	$492	0.2%	$15.22	—	COM	278274105
—	MEXICO FD INC	28,430	$477	0.2%	$15.05	—	COM	592835102
XFDEX	FIRST TR DYNAMIC EUROPE EQUI	33,053	$433	0.2%	$10.93	—	COM SHS	33740D107
—	CLOUGH GLOBAL DIVID & INCOME	77,731	$431	0.2%	$9.65	—	COM	18913Y103
—	WESTERN ASSET HIGH INCOME OP	110,200	$418	0.2%	$4.27	—	COM	95766K109
—	FIRST TR SPECIALTY FIN & FIN	126,660	$413	0.2%	$3.15	—	COM BEN INTR	33733G109
XJEQX	ABRDN JAPAN EQUITY FUND INC	66,473	$403	0.2%	$6.53	—	COM	00306J109
—	NUVEEN FLOATING RATE INCOME	50,401	$401	0.2%	$8.41	—	COM	67072T108
—	VIRTUS CONVERTIBLE & INC FD	123,401	$387	0.2%	$3.04	—	COM	92838U108
—	ABRDN EMRG MKTS EQTY INCM FD	73,698	$382	0.2%	$6.26	—	COM	00301W105
—	MFS MULTIMARKET INCOME TR	81,320	$367	0.2%	$5.08	—	SH BEN INT	552737108
—	CALAMOS GLOBAL TOTAL RETURN	37,260	$361	0.2%	$9.07	—	COM SH BEN INT	128118106
—	VIRTUS DIVIDEND INTEREST & P	27,652	$338	0.1%	$13.45	—	COM	92840R101
—	VOYA EMERGING MKTS HIGH DIVI	64,419	$336	0.1%	$6.69	—	COM	92912P108
—	FRANKLIN UNVL TR	48,982	$330	0.1%	$6.62	—	SH BEN INT	355145103
—	FIRST TR ENERGY INFRASTRCTR	22,370	$329	0.1%	$14.14	—	COM	33738C103
—	TEMPLETON EMERGING MKTS FD	26,752	$317	0.1%	$14.71	—	COM	880191101
—	PUTNAM MASTER INTER INCOME T	98,987	$315	0.1%	$3.39	—	SH BEN INT	746909100
—	NEUBERGER BERMAN REAL ESTATE	103,485	$315	0.1%	$3.08	—	COM	64190A103
—	BLACKROCK ENHANCED INTL DIV	57,100	$311	0.1%	$6.04	—	COM BENE INTER	092524107
—	RIVERNORTH CAP AND INCM FD I	19,413	$299	0.1%	$15.42	—	COM	76882B108
—	KOREA FD INC	12,746	$295	0.1%	$35.37	—	COM NEW	500634209
—	TEKLA HEALTHCARE INVS	16,941	$289	0.1%	$18.00	—	SH BEN INT	87911J103
—	ABRDN AUSTRALIA EQUITY FD IN	66,594	$287	0.1%	$4.66	—	COM	003011103
—	LAZARD GLOBAL TOTAL RETURN &	18,062	$282	0.1%	$15.43	—	COM	52106W103
—	THORNBURG INCM BUILDER OPP T	17,500	$267	0.1%	$15.70	—	COM	885213108
—	ABRDN ASIA PACIFIC INCOME FU	92,710	$250	0.1%	$2.70	—	COM	003009107
—	VIRTUS CONVERTIBLE & INCOME	70,200	$247	0.1%	$3.51	—	COM	92838X102
—	BLACKROCK HEALTH SCIENCES TE	15,000	$246	0.1%	$16.42	—	COM SHS	09260E105
—	BLACKROCK INNOVATION AND GRW	30,000	$236	0.1%	$7.85	—	SHS BEN INT	09260Q108
QQQ	INVESCO QQQ TR	626	$232	0.1%	$321.40	—	UNIT SER 1	46090E103
—	EATON VANCE TAX-ADVANTAGED G	10,000	$230	0.1%	$22.96	—	COM	27828U106
—	NUVEEN REAL ESTATE INCOME FD	28,405	$216	0.1%	$7.60	—	COM	67071B108
AAPL	APPLE INC	1,100	$213	0.1%	$172.06	0.0%	COM	037833100
—	HANCOCK JOHN PFD INCOME FD I	14,035	$212	0.1%	$15.09	—	COM	41013X106
XHITX	INVESCO HIG INCM 2023 TARG T	27,964	$207	0.1%	$7.42	—	COM	46135X108
—	EATON VANCE TAX-MANAGED DIVE	16,000	$199	0.1%	$12.46	—	COM	27828N102
—	ELLSWORTH GROWTH & INCOME FD	22,059	$190	0.1%	$10.70	—	COM	289074106
—	INVESCO BD FD	11,810	$176	0.1%	$14.88	—	COM	46132L107
—	MACQUARIE / FIRST TR GLOBAL	22,469	$175	0.1%	$8.26	—	COM	55607W100
XDCFX	BNY MELLON ALCENTRA GLOBAL C	21,979	$166	0.1%	$7.55	—	COM	05588N108
—	NUVEEN CORE PLUS IMPACT FUND	14,202	$143	0.1%	$10.30	—	COM BEN INT	67080D103
—	VOYA GLBL EQTY DIV & PREM OP	27,162	$140	0.1%	$5.10	—	COM	92912T100
—	MORGAN STANLEY EMERGING MKTS	26,571	$127	0.1%	$4.77	—	COM	617477104
—	NUVEEN CR STRATEGIES INCOME	24,000	$122	0.1%	$5.10	—	COM SHS	67073D102
—	PRINCIPAL REAL ESTATE INCOME	11,315	$107	0.0%	$9.91	—	SHS BEN INT	74255X104
—	BLACKROCK CR ALLOCATION INCO	10,415	$106	0.0%	$10.15	—	COM	092508100
—	VIRTUS TOTAL RETURN FD INC	17,054	$104	0.0%	$6.41	—	COM	92835W107
—	EATON VANCE SR INCOME TR	16,731	$91	0.0%	$6.67	—	SH BEN INT	27826S103