Shaker Financial Services, LLC

Arlington, VA · CIK 1511794 · 13F filing filed 2025-08-05

SEC-registered investment adviser since 2004 · limited liability company

Assets managed$286.3m
Staff6 · 2 in investment roles
Main clients (by assets)High net worth individuals 73%, Individuals 27%
Main officeAnnapolis, MD
Websiteshakerfinancial.com
Form ADV · 2026-03-27SEC adviser record

$275.8m reported value +7.3% vs Q1 2025

147positions

28.3%in top 10

23 new 71 added 46 reduced 29 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	CENTRAL SECS CORP COM CET	CET	211,722	$10.1m3.67%	3.67%	Added +30.9k	+30,909 17.1%
2	ROYCE MICRO-CAP TR INC COM RMT	RMT	1,021,723	$9.5m3.43%	3.43%	Added +114.5k	+114,526 12.6%
3	ROYCE SMALL CAP TRUST INC COM RVT	RVT	585,074	$8.8m3.19%	3.19%	Added +300.7k	+300,677 105.7%
4	NUVEEN CORE EQUITY ALPHA FD COM JCE	JCE	527,991	$8.4m3.03%	3.03%	Added +180.8k	+180,815 52.1%
5	EATON VANCE TAX MNGED BUY WR COM ETB	ETB	538,006	$7.8m2.82%	2.82%	Reduced -15.5k	-15,535 -2.8%
6	LIBERTY ALL-STAR GROWTH FD I COM ASG	ASG	1,340,933	$7.3m2.66%	2.66%	Reduced -145.2k	-145,231 -9.8%
7	CALAMOS STRATEGIC TOTAL RETU COM SH BEN INT CSQ	CSQ	394,767	$7.2m2.61%	2.61%	Added +33.3k	+33,274 9.2%
8	NUVEEN DOW 30 DYNMC OVERWRT SHS SHS		459,536	$6.7m2.44%	2.44%	Added +189.4k	+189,389 70.1%
9	GENERAL AMERN INVS CO INC COM GAM	GAM	109,796	$6.2m2.23%	2.23%	Reduced -48.8k	-48,832 -30.8%
10	CALAMOS GBL DYN INCOME FUND COM CHW	CHW	841,470	$6.0m2.18%	2.18%	Added +101.9k	+101,929 13.8%
11	BLACKROCK ENHANCED EQUITY DI COM BDJ	BDJ	627,929	$5.6m2.02%	2.02%	Added +352.6k	+352,617 128.1%
12	LIBERTY ALL STAR EQUITY FD SH BEN INT USA	USA	803,925	$5.5m1.99%	1.99%	Added +483.7k	+483,702 151.1%
13	TRI CONTL CORP COM TY	TY	162,350	$5.1m1.86%	1.86%	Added +72.1k	+72,063 79.8%
14	EUROPEAN EQUITY FD INC COM EEA	EEA	447,331	$4.6m1.66%	1.66%	Added +54.8k	+54,759 13.9%
15	FRANKLIN LTD DURATION INCOME COM FTF	FTF	672,153	$4.3m1.56%	1.56%	Added +123.5k	+123,481 22.5%
16	ALLSPRING INCOME OPPORTUNIT INC OPPTY FD XEADX	XEADX	587,142	$4.2m1.51%	1.51%	Added +24.0k	+24,002 4.3%
17	SPECIAL OPPORTUNITIES FD INC COM SPE	SPE	266,728	$4.1m1.50%	1.50%	Added +189.6k	+189,630 246.0%
18	EATON VANCE TAX-MANAGED GLOB COM ETW	ETW	449,311	$3.9m1.41%	1.41%	Added +109.6k	+109,624 32.3%
19	FIRST TR ENHANCED EQUITY INC COM FFA	FFA	179,995	$3.7m1.34%	1.34%	Added +88.5k	+88,539 96.8%
20	NUVEEN MULTI ASSET INCOME FU COM NMAI	NMAI	278,485	$3.5m1.29%	1.29%	Reduced -7.6k	-7,556 -2.6%
21	SPROTT FOCUS TR INC COM FUND	FUND	459,701	$3.4m1.25%	1.25%	Added +142.6k	+142,553 45.0%
22	ABRDN TOTAL DYNAMIC DIVIDEND COM SH BEN INT XAODX	XAODX	374,808	$3.3m1.20%	1.20%	Added +351.2k	+351,237 1490.1%
23	BLACKROCK HEALTH SCIENCES TR COM XBMEX	XBMEX	224,516	$3.2m1.17%	1.17%	New
24	BRANDYWINEGBL GBL INCM OPP F COM BWG	BWG	382,468	$3.2m1.16%	1.16%	Added +133.6k	+133,608 53.7%
25	ALLSPRING MULTI SECTOR INCOM COM ERC	ERC	315,553	$3.0m1.09%	1.09%	Reduced -18.0k	-18,014 -5.4%
26	DOUBLELINE INCOME SOLUTIONS COM DSL	DSL	244,126	$3.0m1.08%	1.08%	Added +164.5k	+164,530 206.7%
27	NUVEEN GLOBAL HIGH INCOME FD SHS JGH	JGH	226,452	$3.0m1.07%	1.07%	Added +55.3k	+55,288 32.3%
28	MADISON COVERED CALL & EQUIT COM MCN	MCN	455,480	$2.9m1.04%	1.04%	Added +97.4k	+97,354 27.2%
29	EATON VANCE TAX ADVT DIV INC COM XEVTX	XEVTX	117,919	$2.8m1.03%	1.03%	Reduced -170.7k	-170,653 -59.1%
30	EATON VANCE TAX-MANAGED BUY- COM ETV	ETV	203,026	$2.8m1.02%	1.02%	Added +129.4k	+129,408 175.8%
31	EATON VANCE RISK-MANAGED DIV COM ETJ	ETJ	303,924	$2.7m1.00%	1.00%	Reduced -215.3k	-215,331 -41.5%
32	WESTERN ASSET GBL HIGH INC F COM EHI	EHI	414,977	$2.7m0.99%	0.99%	Added +158.0k	+158,042 61.5%
33	BARINGS GLOBAL SHORT DURATIO COM BGH	BGH	174,609	$2.7m0.98%	0.98%	Added +76.1k	+76,121 77.3%
34	FLAHERTY & CRUMRINE DYNAMIC SHS DFP	DFP	130,860	$2.7m0.97%	0.97%	Added +57.0k	+56,988 77.1%
35	PGIM SHORT DUR HIG YLD OPP F COM SDHY	SDHY	158,365	$2.7m0.97%	0.97%	Added +40.7k	+40,668 34.5%
36	SABA CAPITAL INCOME & OPPORT COM NEW SABA	SABA	288,813	$2.7m0.96%	0.96%	Added +36.3k	+36,294 14.4%
37	SOURCE CAPITAL COM SHS OF BEN I XSORX	XSORX	60,873	$2.6m0.96%	0.96%	Added +34.3k	+34,282 128.9%
38	HANCOCK JOHN INVT TR II COM JHI	JHI	183,223	$2.5m0.92%	0.92%	Added +36.8k	+36,824 25.1%
39	CLOUGH GLOBAL DIVID & INCOME COM GLV	GLV	453,041	$2.5m0.90%	0.90%	New
40	VIRTUS EQUITY & CONV INCM FD COM XNIEX	XNIEX	101,493	$2.4m0.88%	0.88%	Added +37.9k	+37,911 59.6%
41	JOHN HANCOCK HEDGED EQUITY & COM HEQ	HEQ	224,964	$2.4m0.86%	0.86%	Reduced -19.9k	-19,893 -8.1%
42	EATON VANCE TAX-ADVANTAGED G COM ETO	ETO	86,048	$2.3m0.85%	0.85%	Added +44.3k	+44,347 106.3%
43	VIRTUS GLOBAL MULTI-SECTOR I COM VGI	VGI	297,936	$2.3m0.85%	0.85%	Reduced -14.8k	-14,805 -4.7%
44	BLACKROCK ENHANCED INTL DIV COM BENE INTER XBGYX	XBGYX	388,987	$2.3m0.82%	0.82%	Added +177.8k	+177,846 84.2%
45	MFS CHARTER INCOME TR SH BEN INT XMCRX	XMCRX	341,354	$2.2m0.79%	0.79%	Added +27.2k	+27,153 8.6%
46	EATON VANCE LTD DURATION INC COM XEVVX	XEVVX	209,404	$2.1m0.78%	0.78%	Added +13.6k	+13,594 6.9%
47	ANGEL OAK FINL STRATEGIES IN COM BEN INT FINS	FINS	163,730	$2.1m0.77%	0.77%	Added +30.3k	+30,346 22.8%
48	WESTERN ASSET HIGH INCOM FD COM HIX	HIX	454,438	$2.0m0.72%	0.72%	Reduced -155.5k	-155,516 -25.5%
49	CHINA FD INC COM XXCHNXX	XXCHNXX	132,112	$2.0m0.71%	0.71%	Added +63.9k	+63,920 93.7%
50	ALLIANCEBERNSTEIN GLOBAL HIG COM XAWFX	XAWFX	177,884	$2.0m0.71%	0.71%	Added +19.9k	+19,903 12.6%
51	TAIWAN FD INC COM TWN	TWN	42,901	$1.9m0.70%	0.70%	Reduced -371	-371 -0.9%
52	CALAMOS GLOBAL TOTAL RETURN COM SH BEN INT CGO	CGO	159,279	$1.9m0.68%	0.68%	Reduced -40.5k	-40,486 -20.3%
53	ROYCE GLOBAL TRUST INC COM RGT	RGT	154,766	$1.9m0.68%	0.68%	Added +42.3k	+42,327 37.6%
54	COHEN & STEERS LTD DURATION COM LDP	LDP	85,631	$1.8m0.65%	0.65%	Reduced -7.5k	-7,454 -8.0%
55	ABRDN INCOME CREDIT STRATEGI COM ACP	ACP	303,546	$1.8m0.65%	0.65%	Added +119.8k	+119,795 65.2%
56	COHEN & STEERS SELECT PFD & COM PSF	PSF	87,569	$1.8m0.64%	0.64%	Added +20.0k	+20,026 29.6%
57	BLACKSTONE STRATEGIC CRED 20 COM SHS BEN IN BGB	BGB	140,782	$1.7m0.62%	0.62%	Added +16.0k	+15,991 12.8%
58	FIRST TR SR FLTG RATE INCOME COM COM		166,080	$1.7m0.61%	0.61%	Reduced -1.5k	-1,507 -0.9%
59	WESTERN ASSET EMERGING MKTS COM XEMDX	XEMDX	162,921	$1.7m0.60%	0.60%	Reduced -32.8k	-32,842 -16.8%
60	COHEN & STEERS QUALITY INCOM COM RQI	RQI	125,826	$1.6m0.57%	0.57%	Added +18.3k	+18,326 17.1%
61	INVESCO HIGH INCOME TR II COM VLT	VLT	140,102	$1.5m0.56%	0.56%	Reduced -9.8k	-9,760 -6.5%
62	ARES DYNAMIC CR ALLOCATION F COM ARDC	ARDC	106,790	$1.5m0.55%	0.55%	Added +53.5k	+53,492 100.4%
63	NEW GERMANY FD INC COM GF	GF	122,622	$1.5m0.53%	0.53%	Added +111.6k	+111,605 1013.0%
64	FIRST TR INTER DURATN PFD & COM FPF	FPF	77,756	$1.5m0.53%	0.53%	Added +7.8k	+7,831 11.2%
65	FIRST TR HIGH YIELD OPPRT 20 COM FTHY	FTHY	93,043	$1.4m0.50%	0.50%	Reduced -26.8k	-26,765 -22.3%
66	BLACKROCK SCIENCE & TECHNOLO SHS BST	BST	36,014	$1.4m0.50%	0.50%	Added +27.3k	+27,297 313.1%
67	DOUBLELINE YIELD OPPORTUNITI COM DLY	DLY	83,413	$1.3m0.47%	0.47%	New
68	NUVEEN S&P 500 DYNAMIC OVERW COM XSSPX	XSSPX	71,075	$1.3m0.46%	0.46%	New
69	TEMPLETON EMERGING MKTS INCO COM TEI	TEI	207,185	$1.2m0.45%	0.45%	New
70	VOYA ASIA PAC HIGH DIV EQT I COM XIAEX	XIAEX	173,883	$1.2m0.44%	0.44%	Reduced -999	-999 -0.6%
71	SRH TOTAL RETURN FUND INC COM STEW	STEW	69,216	$1.2m0.44%	0.44%	Reduced -211.7k	-211,670 -75.4%
72	COHEN & STEERS TAX ADVAN PFD COM PTA	PTA	61,281	$1.2m0.44%	0.44%	Reduced -4.5k	-4,541 -6.9%
73	MORGAN STANLEY EMERGING MKTS COM EDD	EDD	228,932	$1.2m0.44%	0.44%	Added +138.3k	+138,283 152.6%
74	EATON VANCE ENHANCED EQUITY COM EOS	EOS	49,165	$1.2m0.43%	0.43%	Added +9.7k	+9,665 24.5%
75	LAZARD GLOBAL TOTAL RETURN & COM XLGIX	XLGIX	70,478	$1.2m0.43%	0.43%	Reduced -4.9k	-4,911 -6.5%
76	ELLSWORTH GROWTH & INCOME FD COM ECF	ECF	108,007	$1.1m0.40%	0.40%	Reduced -33.7k	-33,699 -23.8%
77	XAI OCTAGN FLT RAT & ALT INM COM COM		194,429	$1.1m0.40%	0.40%	New
78	NUVEEN S&P 500 BUY-WRITE INC COM COM		77,595	$1.1m0.40%	0.40%	Reduced -131.8k	-131,757 -62.9%
79	ABRDN ASIA PACIFIC INCOME FU COM NEW FAX	FAX	68,831	$1.1m0.40%	0.40%	Reduced -26.2k	-26,180 -27.6%
80	MFS MULTIMARKET INCOME TR SH BEN INT MMT	MMT	225,381	$1.1m0.38%	0.38%	Reduced -83.7k	-83,674 -27.1%
81	VIRTUS TOTAL RETURN FD INC COM ZTR	ZTR	169,755	$1.1m0.38%	0.38%	Added +22.1k	+22,132 15.0%
82	EATON VANCE SHORT DURATION D COM XEVGX	XEVGX	91,716	$1.0m0.37%	0.37%	Added +55.8k	+55,795 155.3%
83	BLACKROCK ENHANCED GLOBAL DI COM XBOEX	XBOEX	88,166	$1.0m0.36%	0.36%	Added +61.9k	+61,855 235.1%
84	BLACKSTONE LONG SHORT CR INC COM SHS BN INT BGX	BGX	79,194	$982.8k0.36%	0.36%	Added +2.0k	+2,020 2.6%
85	TEMPLETON DRAGON FD INC COM TDF	TDF	97,348	$972.5k0.35%	0.35%	Added +15.7k	+15,683 19.2%
86	JAPAN SMALLER CAPITALIZATION COM JOF	JOF	97,575	$940.6k0.34%	0.34%	Added +30.7k	+30,699 45.9%
87	CREDIT SUISSE ASSET MGMT INC COM CIK	CIK	306,376	$906.9k0.33%	0.33%	Added +97.2k	+97,243 46.5%
88	TOTAL RETURN SECURITIES FUND COM SWZ	SWZ	140,360	$889.9k0.32%	0.32%	Added +54.3k	+54,272 63.0%
89	TEMPLETON EMERGING MKTS FD COM EMF	EMF	56,592	$825.7k0.30%	0.30%	Added +6.1k	+6,077 12.0%
90	WESTERN ASSET HIGH INCOME OP COM HIO	HIO	199,744	$802.1k0.29%	0.29%	New
91	MEXICO EQUITY & INCOME FD COM MXE	MXE	75,982	$795.5k0.29%	0.29%	Unchanged
92	ALLSPRING GLOBAL DIVIDEND OP COM EOD	EOD	145,159	$791.1k0.29%	0.29%	Added +101.0k	+101,024 228.9%
93	NUVEEN REAL ESTATE INCOME FD COM JRS	JRS	98,228	$780.9k0.28%	0.28%	Added +33.0k	+33,000 50.6%
94	BNY MELLON HIGH YIELD STRATE SH BEN INT DHF	DHF	297,741	$774.1k0.28%	0.28%	Added +70.5k	+70,506 31.0%
95	NUVEEN FLOATING RATE INCOME COM JFR	JFR	86,857	$743.1k0.27%	0.27%	Reduced -17.3k	-17,300 -16.6%
96	SABA CAPITAL INCOME & OPRNT SHS NEW BRW	BRW	82,220	$662.7k0.24%	0.24%	Reduced -111.1k	-111,087 -57.5%
97	BLACKROCK ESG CAP ALLC TERM SHS BEN INT ECAT	ECAT	38,270	$614.6k0.22%	0.22%	New
98	KKR INCOME OPPORTUNITIES FD COM KIO	KIO	48,059	$603.6k0.22%	0.22%	Added +9.7k	+9,717 25.3%
99	RIVERNORTH CAP AND INCM FD I COM XRSFX	XRSFX	40,112	$583.6k0.21%	0.21%	Reduced -16.0k	-15,972 -28.5%
100	HANCOCK JOHN TAX-ADVANTAGED COM HTD	HTD	23,443	$548.3k0.20%	0.20%	New

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
NUVEEN NASDAQ 100 DYNAMIC OV QQQX	QQQX	220,010	$5.3m220.0k shares
ADAMS DIVERSIFIED EQUITY FD ADX	ADX	207,446	$3.9m207.4k shares
NUVEEN CORE PLUS IMPACT FUND NPCT	NPCT	307,381	$3.3m307.4k shares
GABELLI DIVID & INCOME TR XGDVX	XGDVX	125,316	$3.0m125.3k shares
BLACKROCK INNOVATION AND GRW BTX	BTX	434,069	$2.7m434.1k shares
PIONEER HIGH INCOME FUND INC XPHTX	XPHTX	214,755	$1.7m214.8k shares
ABRDN GLOBAL INFRA INCOME FU ASGI	ASGI	76,829	$1.4m76.8k shares
CLOUGH GLOBAL OPPORTUNITIES GLO	GLO	263,762	$1.3m263.8k shares
PIONEER FLOATING RATE FUND I XPHDX	XPHDX	128,727	$1.2m128.7k shares
PIONEER DIVERSIFIED HIGH INC XHNWX	XHNWX	72,607	$866.9k72.6k shares
VIRTUS DIVERSIFIED INCM & CO ACV	ACV	42,344	$846.9k42.3k shares
LMP CAP & INCOME FD INC XSCDX	XSCDX	43,788	$702.8k43.8k shares
NUVEEN PFD & INCOME TERM FD XJPIX	XJPIX	34,732	$688.9k34.7k shares
BLACKSTONE SENI FLTN RAT 202 BSL	BSL	47,185	$666.7k47.2k shares
WESTERN ASSET DIVERSIFIED IN WDI	WDI	42,886	$626.4k42.9k shares
HIGHLAND GLOBAL ALLOCATION F HGLB	HGLB	72,983	$607.9k73.0k shares
BLACKROCK MULTI SECTOR INC T BIT	BIT	30,260	$438.2k30.3k shares
BLACKROCK CAP ALLOCATION TER BCAT	BCAT	30,216	$435.1k30.2k shares
ABRDN GLOBAL DYNAMIC DIVIDEN XAGDX	XAGDX	38,497	$383.4k38.5k shares
VIRTUS ARTIFICIAL INTELLIGEN AIO	AIO	16,301	$336.3k16.3k shares
NYLI CBRE GBL INFR MEGTRNDS MEGI	MEGI	24,781	$329.8k24.8k shares
BLACKROCK MUN TARGET TERM TR BTT	BTT	12,998	$276.6k13.0k shares
GABELLI GLOBAL SMALL & MID C GGZ	GGZ	22,742	$272.9k22.7k shares
VIRTUS CONVERTIBLE & INC FD NCZ	NCZ	21,783	$251.8k21.8k shares
ADVENT CONV & INCOME FD AVK	AVK	20,421	$235.5k20.4k shares