Shaker Financial Services, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	SRH TOTAL RETURN FUND INC	679,159	$10,228	4.0%	$12.32	—	COM	101507101
—	SPROTT FOCUS TR INC	902,867	$7,259	2.8%	$7.75	—	COM	85208J109
—	LIBERTY ALL-STAR GROWTH FD I	1,302,176	$7,149	2.8%	$5.18	—	COM	529900102
—	NUVEEN S&P 500 BUY-WRITE INC	509,619	$6,863	2.7%	$13.25	—	COM	6706ER101
—	CENTRAL SECS CORP	144,940	$6,054	2.3%	$33.14	—	COM	155123102
—	BLACKROCK ENHANCD CAP & INM	304,440	$5,934	2.3%	$19.23	—	COM	09256A109
—	EATON VANCE TAX ADVT DIV INC	243,838	$5,755	2.2%	$22.66	—	COM	27828G107
—	NUVEEN NASDAQ 100 DYNAMIC OV	229,898	$5,644	2.2%	$23.92	—	COM SHS	670699107
—	EATON VANCE TX ADV GLBL DIV	303,374	$5,537	2.1%	$15.70	—	COM	27828S101
—	ALLSPRING MULTI SECTOR INCOM	512,598	$4,814	1.9%	$9.42	—	COM	94987D101
—	EATON VANCE TAX-MANAGED BUY-	358,786	$4,639	1.8%	$12.53	—	COM	27828Y108
—	ROYCE MICRO-CAP TR INC	488,719	$4,618	1.8%	$9.01	—	COM	780915104
—	NUVEEN S&P 500 DYNAMIC OVERW	275,950	$4,410	1.7%	$15.67	—	COM	6706EW100
—	ALLSPRING INCOME OPPORTUNIT	633,335	$4,238	1.6%	$7.03	—	INC OPPTY FD	94987B105
—	FIRST TR ENHANCED EQUITY INC	210,193	$3,973	1.5%	$17.87	—	COM	337318109
—	PGIM SHORT DUR HIG YLD OPP F	252,359	$3,881	1.5%	$15.04	—	COM	69355J104
—	NUVEEN FLOATING RATE INCOME	437,190	$3,854	1.5%	$8.30	—	COM	67072T108
—	ALLSPRING GLOBAL DIVIDEND OP	768,800	$3,776	1.5%	$4.47	—	COM	94987C103
—	GENERAL AMERN INVS CO INC	76,463	$3,556	1.4%	$42.76	—	COM	368802104
—	HIGHLAND GLOBAL ALLOCATION F	455,967	$3,493	1.4%	$8.94	—	COM	43010T104
—	NUVEEN CORE EQUITY ALPHA FD	234,193	$3,356	1.3%	$14.21	—	COM	67090X107
—	EATON VANCE TAX MNGED BUY WR	245,603	$3,352	1.3%	$13.01	—	COM	27828X100
—	VIRTUS GLOBAL MULTI-SECTOR I	436,897	$3,347	1.3%	$10.09	—	COM	92829B101
—	EATON VANCE LTD DURATION INC	336,662	$3,282	1.3%	$9.37	—	COM	27828H105
—	FRANKLIN LTD DURATION INCOME	518,783	$3,253	1.3%	$6.30	—	COM	35472T101
—	EUROPEAN EQUITY FD INC	361,027	$3,217	1.2%	$9.33	—	COM	298768102
—	EATON VANCE TAX-MANAGED GLOB	391,833	$3,197	1.2%	$7.73	—	COM	27829F108
—	MFS CHARTER INCOME TR	476,421	$3,021	1.2%	$6.27	—	SH BEN INT	552727109
—	HANCOCK JOHN INVT TR II	220,220	$2,905	1.1%	$12.74	—	COM	410142103
—	NUVEEN DOW 30 DYNMC OVERWRT	191,249	$2,860	1.1%	$14.98	—	SHS	67075F105
—	EATON VANCE TAX-MANAGED GLOB	348,448	$2,857	1.1%	$7.79	—	COM	27829C105
—	EATON VANCE RISK-MANAGED DIV	335,907	$2,805	1.1%	$7.94	—	COM	27829G106
—	NEW GERMANY FD INC	321,746	$2,802	1.1%	$12.57	—	COM	644465106
—	GABELLI DIVID & INCOME TR	119,022	$2,735	1.1%	$24.48	—	COM	36242H104
—	PIMCO GLOBAL STOCKSPLS INCM	354,480	$2,731	1.1%	$7.54	—	COM	722011103
—	ADAMS DIVERSIFIED EQUITY FD	137,042	$2,675	1.0%	$19.15	—	COM	006212104
—	CALAMOS STRATEGIC TOTAL RETU	153,903	$2,519	1.0%	$14.97	—	COM SH BEN INT	128125101
—	GABELLI EQUITY TR INC	443,099	$2,446	0.9%	$5.08	—	COM	362397101
—	TEMPLETON EMERGING MKTS INCO	446,002	$2,422	0.9%	$5.04	—	COM	880192109
—	RIVERNORTH DOUBLELINE STRATE	274,924	$2,370	0.9%	$8.57	—	COM	76882G107
—	SWISS HELVETIA FD INC	292,378	$2,319	0.9%	$8.00	—	COM	870875101
—	FIRST TR INTER DURATN PFD &	123,494	$2,213	0.9%	$15.70	—	COM	33718W103
—	CALAMOS GBL DYN INCOME FUND	336,287	$2,189	0.8%	$5.79	—	COM	12811L107
—	ABRDN INCOME CREDIT STRATEGI	319,113	$2,164	0.8%	$6.86	—	COM	003057106
—	TRI CONTL CORP	69,475	$2,140	0.8%	$28.61	—	COM	895436103
—	PGIM GLOBAL HIGH YIELD FD FO	177,501	$2,123	0.8%	$11.64	—	COM	69346J106
—	PGIM HIGH YIELD BOND FUND IN	162,180	$2,107	0.8%	$12.12	—	COM	69346H100
—	JOHN HANCOCK HEDGED EQUITY &	200,374	$2,102	0.8%	$10.31	—	COM	47804L102
—	FIRST TR HIGH INCOME LONG /	172,337	$2,056	0.8%	$11.87	—	COM	33738E109
—	BANCROFT FD LTD	125,446	$2,006	0.8%	$18.26	—	COM	059695106
—	BRANDYWINEGBL GBL INCM OPP F	222,440	$1,904	0.7%	$8.31	—	COM	10537L104
—	ABRDN GLOBAL DYNAMIC DIVIDEN	193,982	$1,884	0.7%	$10.94	—	COM	00302M106
—	BLACKROCK ENHANCED EQUITY DI	222,171	$1,833	0.7%	$8.19	—	COM	09251A104
—	INVESCO HIGH INCOME TR II	147,806	$1,586	0.6%	$12.40	—	COM	46131F101
—	FLAHERTY & CRUMRINE DYNAMIC	78,379	$1,503	0.6%	$18.06	—	SHS	33848W106
—	ROYCE VALUE TR INC	95,125	$1,443	0.6%	$13.93	—	COM	780910105
—	SOURCE CAP INC	32,836	$1,395	0.5%	$38.46	—	COM	836144105
—	RIVERNORTH CAP AND INCM FD I	87,785	$1,392	0.5%	$15.86	—	COM	76882B108
—	PIMCO INCOME STRATEGY FD	162,570	$1,392	0.5%	$8.29	—	COM	72201H108
—	HANCOCK JOHN PREM DIVID FD	116,946	$1,362	0.5%	$9.79	—	COM SH BEN INT	41013T105
—	TAIWAN FD INC	33,272	$1,318	0.5%	$27.77	—	COM	874036106
—	VIRTUS DIVIDEND INTEREST & P	101,826	$1,301	0.5%	$12.76	—	COM	92840R101
—	SPECIAL OPPORTUNITIES FD INC	102,759	$1,299	0.5%	$11.15	—	COM	84741T104
—	COHEN & STEERS LTD DURATION	62,591	$1,257	0.5%	$18.87	—	COM	19248C105
—	WESTERN ASSET EMERGING MKTS	128,302	$1,247	0.5%	$9.39	—	COM	95766A101
XHNWX	PIONEER DIVERSIFIED HIGH INC	104,265	$1,238	0.5%	$11.54	—	COM	723653101
—	SABA CAPITAL INCOME & OPRNT	166,533	$1,214	0.5%	$7.43	—	SHS NEW	78518H202
—	PUTNAM PREMIER INCOME TR	342,209	$1,213	0.5%	$3.61	—	SH BEN INT	746853100
XTEAX	ECOFIN SUSTAINABLE AND SOCIA	101,114	$1,194	0.5%	$12.02	—	COM SH BEN INT	27901F109
—	ADVENT CONV & INCOME FD	99,796	$1,192	0.5%	$11.02	—	COM	00764C109
—	VOYA ASIA PAC HIGH DIV EQT I	182,946	$1,158	0.4%	$8.01	—	COM	92912J102
—	NUVEEN PFD & INCOME OPPORTUN	158,013	$1,142	0.4%	$6.83	—	COM	67073B106
—	EATON VANCE TAX-MANAGED DIVE	84,424	$1,128	0.4%	$11.95	—	COM	27828N102
—	VIRTUS CONVERTIBLE & INC FD	371,625	$1,111	0.4%	$2.99	—	COM	92838U108
—	HANCOCK JOHN PFD INCOME FD	66,374	$1,104	0.4%	$16.13	—	SH BEN INT	41013W108
—	VIRTUS CONVERTIBLE & INCOME	321,498	$1,074	0.4%	$3.37	—	COM	92838X102
—	MFS MULTIMARKET INCOME TR	230,526	$1,067	0.4%	$4.58	—	SH BEN INT	552737108
—	BARINGS GLOBAL SHORT DURATIO	72,075	$1,038	0.4%	$13.26	—	COM	06760L100
XPHDX	PIONEER FLOATING RATE FUND I	106,971	$1,035	0.4%	$9.99	—	COM	72369J102
—	NUVEEN CORE PLUS IMPACT FUND	98,884	$1,032	0.4%	$10.16	—	COM BEN INT	67080D103
—	BLACKROCK LTD DURATION INCOM	71,216	$999	0.4%	$12.88	—	COM SHS	09249W101
—	NEUBERGER BERMAN NEXT GENERA	83,526	$981	0.4%	$11.02	—	COMMON STOCK	64133Q108
—	MEXICO EQUITY & INCOME FD	84,204	$973	0.4%	$7.98	—	COM	592834105
—	GABELLI GLOBAL SMALL & MID C	78,248	$941	0.4%	$11.73	—	COM	36249W104
—	VIRTUS EQUITY & CONV INCM FD	38,974	$873	0.3%	$22.39	—	COM	92841M101
—	CLOUGH GLOBAL OPPORTUNITIES	171,389	$871	0.3%	$5.09	—	SH BEN INT	18914E106
—	BNY MELLON HIGH YIELD STRATE	341,470	$836	0.3%	$2.77	—	SH BEN INT	09660L105
—	ELLSWORTH GROWTH & INCOME FD	97,238	$790	0.3%	$8.12	—	COM	289074106
—	COHEN & STEERS SELECT PFD &	38,902	$778	0.3%	$19.99	—	COM	19248Y107
—	EATON VANCE SHORT DURATION D	72,355	$764	0.3%	$10.22	—	COM	27828V104
—	COHEN & STEERS TAX ADVAN PFD	38,322	$751	0.3%	$19.61	—	COM	19249X108
—	ABRDN TOTAL DYNAMIC DIVIDEND	85,437	$708	0.3%	$8.00	—	COM SH BEN INT	00326L100
—	EATON VANCE ENHANCED EQUITY	38,357	$699	0.3%	$16.58	—	COM	278274105
—	SABA CAPITAL INCOME & OPPORT	181,785	$694	0.3%	$3.91	—	COM	880198106
—	FIRST TR HIGH YIELD OPPRT 20	46,211	$672	0.3%	$14.12	—	COM	33741Q107
—	NUVEEN TAXABLE MUNICPAL INM	43,375	$668	0.3%	$15.96	—	COM	67074C103
—	BROOKFIELD REAL ASSETS INCOM	51,253	$662	0.3%	$12.81	—	SHS BEN INT	112830104
—	EATON VANCE ENHANCED EQUITY	32,762	$661	0.3%	$16.47	—	COM	278277108
—	BLACKROCK ENHANCED INTL DIV	117,473	$650	0.3%	$5.41	—	COM BENE INTER	092524107
SPY	SPDR S&P 500 ETF TR	1,222	$644	0.2%	$527.28	—	TR UNIT	78462F103
—	HANCOCK JOHN FINL OPPTYS FD	21,211	$627	0.2%	$29.58	—	SH BEN INT NEW	409735206
—	FIRST TR SR FLTG RATE INCOME	59,343	$614	0.2%	$10.17	—	COM	33733U108
—	WESTERN ASSET GBL HIGH INC F	86,248	$610	0.2%	$6.90	—	COM	95766B109
—	JAPAN SMALLER CAPITALIZATION	75,633	$604	0.2%	$7.70	—	COM	47109U104
—	TEMPLETON DRAGON FD INC	72,437	$569	0.2%	$14.04	—	COM	88018T101
—	TEMPLETON EMERGING MKTS FD	47,427	$566	0.2%	$13.31	—	COM	880191101
—	EATON VANCE TAX-ADVANTAGED G	21,425	$535	0.2%	$24.98	—	COM	27828U106
—	BLACKROCK ENHANCED GLOBAL DI	50,847	$532	0.2%	$9.92	—	COM	092501105
XXCHNXX	CHINA FD INC	52,069	$520	0.2%	$19.75	—	COM	169373107
—	BLACKSTONE LONG SHORT CR INC	41,321	$509	0.2%	$13.26	—	COM SHS BN INT	09257D102
—	MEXICO FD INC	26,216	$504	0.2%	$15.05	—	COM	592835102
—	WESTERN ASSET HIGH YIELD DEF	41,659	$502	0.2%	$11.58	—	COM	95768B107
—	MORGAN STANLEY CHINA A SH FD	38,116	$459	0.2%	$20.99	—	COM	617468103
—	ALLIANCEBERNSTEIN GLOBAL HIG	40,386	$429	0.2%	$10.20	—	COM	01879R106
—	DOUBLELINE INCOME SOLUTIONS	33,400	$424	0.2%	$12.13	—	COM	258622109
—	VOYA GLBL ADV & PREM OPP FD	46,692	$422	0.2%	$9.04	—	COM	92912R104
—	BLACKROCK ESG CAP ALLC TERM	23,400	$406	0.2%	$17.36	—	SHS BEN INT	09262F100
XPHTX	PIONEER HIGH INCOME FUND INC	52,182	$400	0.2%	$7.54	—	COM	72369H106
—	VIRTUS TOTAL RETURN FD INC	70,725	$394	0.2%	$4.94	—	COM	92835W107
—	CALAMOS LNG SHR EQT DYNAMIC	25,087	$387	0.1%	$16.63	—	COM	12812C106
XJEQX	ABRDN JAPAN EQUITY FUND INC	60,813	$379	0.1%	$6.53	—	COM	00306J109
—	ABRDN ASIA PACIFIC INCOME FU	134,888	$378	0.1%	$2.61	—	COM	003009107
—	CLOUGH GLOBAL EQUITY FD	56,452	$368	0.1%	$6.66	—	COM	18914C100
—	ABRDN EMRG MKTS EQTY INCM FD	69,779	$352	0.1%	$6.26	—	COM	00301W105
—	VOYA EMERGING MKTS HIGH DIVI	64,419	$339	0.1%	$6.69	—	COM	92912P108
—	MORGAN STANLEY EMERGING MKTS	69,507	$336	0.1%	$4.84	—	COM	617477104
—	KOREA FD INC	12,746	$324	0.1%	$35.37	—	COM NEW	500634209
—	BLACKROCK INNOVATION AND GRW	39,000	$317	0.1%	$7.33	—	SHS BEN INT	09260Q108
—	THORNBURG INCM BUILDER OPP T	19,500	$315	0.1%	$16.17	—	COM	885213108
—	MFS INTER INCOME TR	116,736	$311	0.1%	$2.67	—	SH BEN INT	55273C107
—	FRANKLIN UNVL TR	44,121	$293	0.1%	$6.63	—	SH BEN INT	355145103
—	HANCOCK JOHN INCOME SECS TR	25,917	$290	0.1%	$11.18	—	COM	410123103
—	RIVERNORTH OPPORTUNITIES FD	23,504	$283	0.1%	$11.36	—	COM	76881Y109
—	KKR INCOME OPPORTUNITIES FD	20,779	$281	0.1%	$13.54	—	COM	48249T106
—	ABRDN AUSTRALIA EQUITY FD IN	63,995	$273	0.1%	$4.66	—	COM	003011103
QQQ	INVESCO QQQ TR	603	$268	0.1%	$321.40	—	UNIT SER 1	46090E103
CMG	CHIPOTLE MEXICAN GRILL INC	87	$253	0.1%	$51.14	0.0%	COM	169656105
—	INVESCO BD FD	15,865	$248	0.1%	$15.21	—	COM	46132L107
—	CALAMOS GLOBAL TOTAL RETURN	22,259	$231	0.1%	$8.98	—	COM SH BEN INT	128118106
—	NUVEEN CR STRATEGIES INCOME	38,308	$215	0.1%	$5.18	—	COM SHS	67073D102
XDCFX	BNY MELLON ALCENTRA GLOBAL C	24,993	$215	0.1%	$7.62	—	COM	05588N108
—	FIRST TR MTG INCOME FD	17,009	$207	0.1%	$12.18	—	COM SHS	33734E103
ADBE	ADOBE INC	400	$202	0.1%	$524.63	+9.3%	COM	00724F101
—	APOLLO SR FLOATING RATE FD I	13,694	$195	0.1%	$14.25	—	COM	037636107
—	DOUBLELINE YIELD OPPORTUNITI	11,600	$185	0.1%	$15.94	—	COM	25862D105
—	GABELLI HLTHCARE & WELLNESS	16,647	$170	0.1%	$10.24	—	SHS	36246K103
—	ROYCE GLOBAL VALUE TR INC	15,589	$167	0.1%	$9.63	—	COM	78081T104
—	VIRTUS CONVERTIBLE & INC 202	18,126	$160	0.1%	$8.81	—	COM	92838R105
—	COHEN & STEERS CLOSED-END OP	12,829	$150	0.1%	$11.69	—	COM	19248P106
—	PUTNAM MASTER INTER INCOME T	46,358	$149	0.1%	$3.29	—	SH BEN INT	746909100
—	PIMCO INCOME STRATEGY FD II	19,000	$146	0.1%	$7.13	—	COM	72201J104
—	BLACKROCK CR ALLOCATION INCO	12,000	$128	0.0%	$10.20	—	COM	092508100
XEGFX	BLACKROCK ENHANCED GOVT FD I	10,981	$104	0.0%	$9.49	—	COM	09255K108
—	CLOUGH GLOBAL DIVID & INCOME	18,215	$102	0.0%	$5.59	—	COM	18913Y103
—	NUVEEN MULTI-MKT INCOME FD	11,245	$69	0.0%	$6.12	—	COM	67075J107
—	GABELLI CONV & INC SECS FD I	15,380	$57	0.0%	$3.60	—	COM	36240B109
—	VOYA GLBL EQTY DIV & PREM OP	10,000	$53	0.0%	$4.99	—	COM	92912T100