Shaker Financial Services, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Shaker Financial Services, LLC reported 165 stock positions worth $315.5 million. Its top holding was Nuveen Core Equity Alpha (JCE) at 2.8% of the portfolio, followed by Royce Micro-Cap Trust (RMT, 2.7%) and Liberty All-Star Growth FD (ASG, 2.6%). Compared with Q3 2025, it opened 30 new positions, sold out of 13, added to 67 and reduced 64. The biggest buy was a new position in Ares Dynamic Credit All (ARDC) and the biggest sale Calamos Strat TTL RTRN FND (CSQ, shares −34%).
- Most Recent 13F
- Q2 2026
- Location
- Arlington, VA
- CIK
- 0001511794
- Portfolio Value
- $315.5M (Q4 2025)
- SEC Filing
- 0001172661-26-000312 ↗ filed Jan 26, 2026
Holdings Value
Holdings 165 stocks · $315.5M
| JCE Nuveen Core Equity Alpha | 2.83% | 560,717 | $8.9M | Add +3.8% |
| RMT Royce Micro-Cap Trust Inc. | 2.74% | 829,682 | $8.7M | Reduce -8.7% |
| ASG Liberty All-Star Growth FD | 2.65% | 1,547,675 | $8.4M | Add +17.7% |
| ETB Eaton Vance T/M Buy-WRT Inc. | 2.39% | 494,414 | $7.5M | Add +0.2% |
| USA Liberty All Star Equity Fund | 2.20% | 1,086,080 | $6.9M | Reduce -16.9% |
| FFA First Trust Enhan Eqty Inc. | 2.00% | 286,580 | $6.3M | Add +16.8% |
| CSQ Calamos Strat TTL RTRN FND | 2.00% | 325,874 | $6.3M | Reduce -34.4% |
| QQQX Nuveen Nasdaq 100 DYN Overwr | 1.84% | 203,750 | $5.8M | Add +69.1% |
| EEA The European Equity Fund Inc. | 1.76% | 502,117 | $5.6M | Add +12.7% |
| CET Central Securities Corp. | 1.73% | 107,720 | $5.5M | Reduce -18.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.69% | 7,781 | $5.3M | Add +66.2% |
| CHW Calamos Global Dynamic Incom | 1.62% | 684,698 | $5.1M | Reduce -16.9% |
| DSL Doubleline Income Solutions | 1.41% | 395,158 | $4.5M | Add +16.0% |
| EOS Eaton Vance Enh Eqt Inc. II | 1.37% | 184,985 | $4.3M | Add +73.6% |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | 1.37% | 171,313 | $4.3M | Add +110.1% |
| MCN Xai Madison Equity Premium I | 1.30% | 684,108 | $4.1M | Add +27.9% |
| FUND Sprott Focus Trust Inc. | 1.28% | 465,917 | $4.0M | Reduce -1.8% |
| XEADX Allspring Income Opport | 1.27% | 586,829 | $4.0M | Add +16.4% |
| SPE Special Opportunities Fund | 1.25% | 250,579 | $4.0M | Reduce -29.4% |
| ADX Adams Diversified Equity | 1.22% | 164,389 | $3.8M | Reduce -30.6% |
| ETJ Eaton Vance RSK-MGD Divers | 1.16% | 414,103 | $3.7M | Add +13.1% |
| SABA Saba Capital Income & Opp II | 1.15% | 439,104 | $3.6M | Reduce -2.0% |
| KIO KKR Income Opportunities | 1.13% | 308,129 | $3.6M | Add +428.1% |
| ETO Eaton Vance T/A GLBL DVD Opp | 1.10% | 114,010 | $3.5M | Add +17.4% |
| ERC Allspring Multi-Sector Inc. | 1.03% | 347,848 | $3.3M | Reduce -5.1% |
| ACP Abrdn Income Credit Strat | 1.03% | 594,054 | $3.3M | Add +34.4% |
| ARDC Ares Dynamic Credit All | 1.03% | 244,497 | $3.3M | New |
| ETV Eaton Vance T/M Buy-Writ Opp | 1.02% | 223,653 | $3.2M | Reduce -30.7% |
| XETYX Eaton Vance Tax-MGD Div Eqty | 1.02% | 209,180 | $3.2M | New |
| FTF Franklin Ltd. Dur Inc. TR | 0.96% | 495,009 | $3.0M | Reduce -28.6% |
| DIAX Nuveen Dow 30 Dynamic Overwr | 0.96% | 199,214 | $3.0M | Reduce -38.7% |
| STK Columbia Slgmn Prem Tech GR | 0.94% | 80,867 | $3.0M | Add +0.3% |
| RVT Royce Small-Cap Trust Inc. | 0.93% | 181,349 | $2.9M | Reduce -37.4% |
| JGH Nuveen Global High Income | 0.93% | 231,461 | $2.9M | Add +66.6% |
| NPCT Nuveen Core Plus Impact | 0.92% | 284,862 | $2.9M | Add +98.6% |
| NFJ Virtus DVD Intrst & PRM STR | 0.91% | 221,869 | $2.9M | Add +364.9% |
| PTA Cohen & Steers Tax-Advantage | 0.90% | 147,484 | $2.8M | Add +173.1% |
| SDHY Pgim SHRT Durat Hi YLD | 0.90% | 171,891 | $2.8M | Reduce -9.3% |
| GHY Pgim Global High Yield Fund | 0.87% | 221,488 | $2.8M | Add +646.9% |
| EHI Western Asset Global High Inc. | 0.86% | 423,874 | $2.7M | Reduce -23.4% |
| DLY Doubleline Yield Opport | 0.86% | 185,781 | $2.7M | Reduce -37.0% |
| BWG Brandywineglobal Global Inco | 0.82% | 308,292 | $2.6M | Reduce -11.9% |
| HYI Western Asset High Yield Opp | 0.82% | 231,194 | $2.6M | Add +452.8% |
| RGT Royce Global Trust Inc. | 0.80% | 193,069 | $2.5M | Add +25.5% |
| XEXGX Eaton Vance Tax-Managed Glob | 0.80% | 265,118 | $2.5M | Add +283.5% |
| XMCRX MFS Charter Income Trust | 0.80% | 400,838 | $2.5M | Add +6.5% |
| HTD John Hancock Tax Adv DVD Inc. filed as HANCOCK JOHN TAX-ADVANTAGED | 0.77% | 103,019 | $2.4M | Add +469.3% |
| XEVVX Eaton Vance Ltd. Durat Inc. | 0.75% | 239,059 | $2.4M | Reduce -1.5% |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | 0.74% | 39,333 | $2.3M | Reduce -20.4% |
| XAWFX Alliancebernstein GL Hi Inc. | 0.73% | 214,193 | $2.3M | Add +62.9% |
| TY Tri-Continental Corp. | 0.73% | 70,445 | $2.3M | Add +455.5% |
| VGI Virtus Global Multi-Sector | 0.73% | 293,404 | $2.3M | Reduce -5.6% |
| HIO Western Asset Hi Inc. Opport | 0.72% | 613,763 | $2.3M | Add +191.0% |
| ETW Eaton Vance T/M GLBL Buy-WR | 0.69% | 237,332 | $2.2M | Reduce -23.9% |
| BIT BlackRock Multi-Sector Inc. | 0.69% | 166,958 | $2.2M | New |
| CGO Calamos Global Total Return | 0.67% | 183,144 | $2.1M | Reduce -14.6% |
| XGDVX Gabelli Dividend & Income TR | 0.65% | 73,792 | $2.0M | Add +113.4% |
| XBOEX BlackRock Enh GLBL DVD TR | 0.65% | 174,071 | $2.0M | Reduce -2.5% |
| STEW SRH Total Return Fund Inc. | 0.64% | 108,639 | $2.0M | Reduce -47.9% |
| LDP Cohen & Steers Limited Durat | 0.63% | 93,902 | $2.0M | Add +11.2% |
| RA Brookfield Real Assets Incom | 0.63% | 153,005 | $2.0M | Add +260.6% |
| NMAI Nuveen Multi-Asset Income | 0.63% | 151,410 | $2.0M | Add +52.7% |
| FPF First TR Interm Dur & Inc. | 0.62% | 104,274 | $2.0M | Add +42.3% |
| HQL Abrdn Life Sciences Investor | 0.61% | 115,419 | $1.9M | Reduce -41.6% |
| FTHY First Trust Hi YLD Opp 2027 | 0.61% | 137,128 | $1.9M | Add +23.1% |
| JHI John Hancock Investors TR | 0.59% | 137,124 | $1.9M | Reduce -21.5% |
| WDI Western Asset Divers Inc. | 0.59% | 133,212 | $1.9M | New |
| CPZ Calamos LNG/SHRT Eqty & DYN | 0.59% | 125,750 | $1.9M | New |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | 0.57% | 121,640 | $1.8M | Reduce -38.9% |
| XEMDX Western Asset Emrg MRKT DBT | 0.56% | 167,347 | $1.8M | Add +4.5% |
| ETG Eaton Vance T/A GL DVD Incm | 0.56% | 76,497 | $1.8M | Reduce -53.2% |
| XIGDX Voya GLBL Eqty DVD & PRM Opp | 0.56% | 304,484 | $1.8M | New |
| XNIEX Virtus Equity & Convertible | 0.55% | 67,522 | $1.7M | Reduce -35.9% |
| GAM General American Investors | 0.54% | 29,187 | $1.7M | New |
| HIX Western Asset High Inc. II | 0.53% | 403,653 | $1.7M | Reduce -26.7% |
| BGB Blackstone Strategic Credit | 0.51% | 136,680 | $1.6M | Reduce -2.8% |
| FAX Abrdn Asia-Pacific Income | 0.49% | 100,319 | $1.6M | New |
| PSF Cohen & Steers Select Prefer | 0.46% | 72,187 | $1.5M | Add +1.6% |
| XIAEX Voya Asia Pac Hi DVD Eq Inc. | 0.46% | 198,949 | $1.5M | Add +9.3% |
| PDT John Hancock Prem DVD FND | 0.46% | 114,265 | $1.5M | Add +16.1% |
| HEQ John Hancock Divers Inc. Fund | 0.45% | 133,072 | $1.4M | Reduce -46.2% |
| GF The New Germany Fund Inc. | 0.44% | 121,034 | $1.4M | Reduce -9.3% |
| IGA Voya Global Advan & Prem Opp | 0.44% | 142,531 | $1.4M | Add +483.5% |
| FINS Angel Oak Financ Strat Inc. | 0.44% | 105,239 | $1.4M | Reduce -27.4% |
| MSD Morgan Stanley Emrg MKT Debt | 0.43% | 180,384 | $1.4M | Add +97.8% |
| XEVGX Eaton Vance Short Dur Div Inc. | 0.41% | 118,733 | $1.3M | Add +328.8% |
| BTX BlackRock Tech & Priv Eqty | 0.41% | 194,268 | $1.3M | Add +34.9% |
| BRW Saba Capital Income & Opport | 0.40% | 181,599 | $1.3M | Add +199.8% |
| XFOFX Cohen & Steers Closed-End Op | 0.40% | 95,327 | $1.3M | Reduce -16.0% |
| XSCDX LMP Capital and Income Fund | 0.39% | 83,807 | $1.2M | Add +341.1% |
| DFP Flaherty & Crumrine DYN Pref | 0.38% | 57,012 | $1.2M | Reduce -17.9% |
| TDF Templeton Dragon Fund Inc. | 0.37% | 104,322 | $1.2M | Reduce -33.8% |
| TEI Templeton Emrg MKTS Inc. | 0.37% | 179,677 | $1.2M | Add +17.9% |
| GDO Western Ast GLB Corp. Opprnty | 0.36% | 94,936 | $1.1M | Add +180.9% |
| EOD Allspring Global Dividend Op | 0.35% | 186,217 | $1.1M | Reduce -18.4% |
| TBLD Thornburg Income Builder Opp | 0.35% | 54,866 | $1.1M | New |
| EMF Templeton Emerging Markets | 0.35% | 65,060 | $1.1M | Reduce -1.3% |
| MMT Aberdeen Multimarket Income | 0.34% | 227,371 | $1.1M | Reduce -3.1% |
| XPGPX PIMCO GLBL Stockspl & Inc. | 0.33% | 113,811 | $1.0M | Add +81.7% |
| JOF Japan Smaller Capitalization | 0.33% | 93,681 | $1.0M | Reduce -4.0% |
Portfolio Sells Q3 2025 → Q4 2025
| CSQ Calamos Strat TTL RTRN FND | Reduce -34.4% | 2.00% | −1.29 |
| HYT BlackRock Corp. Hi YLD | Sold out | 0.00% | −1.18 |
| BDJ BlackRock Enhanced Eqty DVD | Reduce -73.7% | 0.29% | −0.86 |
| CHINA FUND INC | Sold out | 0.00% | −0.84 |
| DIAX Nuveen Dow 30 Dynamic Overwr | Reduce -38.7% | 0.96% | −0.73 |
| RVT Royce Small-Cap Trust Inc. | Reduce -37.4% | 0.93% | −0.68 |
| DLY Doubleline Yield Opport | Reduce -37.0% | 0.86% | −0.67 |
| STEW SRH Total Return Fund Inc. | Reduce -47.9% | 0.64% | −0.66 |
| BMEZ BlackRock HLTH Sci TRM TR II | Reduce -71.4% | 0.25% | −0.66 |
| USA Liberty All Star Equity Fund | Reduce -16.9% | 2.20% | −0.65 |
| SPE Special Opportunities Fund | Reduce -29.4% | 1.25% | −0.63 |
| ETG Eaton Vance T/A GL DVD Incm | Reduce -53.2% | 0.56% | −0.62 |
| CET Central Securities Corp. | Reduce -18.9% | 1.73% | −0.61 |
| XAODX Abrdn Total Dynamic Dividend | Reduce -66.2% | 0.29% | −0.61 |
| ADX Adams Diversified Equity | Reduce -30.6% | 1.22% | −0.60 |
| ETV Eaton Vance T/M Buy-Writ Opp | Reduce -30.7% | 1.02% | −0.56 |
| FTF Franklin Ltd. Dur Inc. TR | Reduce -28.6% | 0.96% | −0.55 |
| XSSPX Nuveen S&P 500 Dynam Overwr | Sold out | 0.00% | −0.52 |
| CHW Calamos Global Dynamic Incom | Reduce -16.9% | 1.62% | −0.51 |
| RMT Royce Micro-Cap Trust Inc. | Reduce -8.7% | 2.74% | −0.50 |
| HEQ John Hancock Divers Inc. Fund | Reduce -46.2% | 0.45% | −0.45 |
| XBXMX Nuveen S&P 500 Buy-WR Inc. | Reduce -38.9% | 0.57% | −0.44 |
| HQL Abrdn Life Sciences Investor | Reduce -41.6% | 0.61% | −0.44 |
| EHI Western Asset Global High Inc. | Reduce -23.4% | 0.86% | −0.40 |
| GLO Clough Global Opportunities | Reduce -55.9% | 0.26% | −0.38 |
| XNIEX Virtus Equity & Convertible | Reduce -35.9% | 0.55% | −0.36 |
| SWZ Total Return Securities Fund | Reduce -54.4% | 0.27% | −0.35 |
| HIX Western Asset High Inc. II | Reduce -26.7% | 0.53% | −0.30 |
| ECF Ellsworth Growth and Income | Reduce -70.1% | 0.11% | −0.29 |
| ETW Eaton Vance T/M GLBL Buy-WR | Reduce -23.9% | 0.69% | −0.27 |
| TDF Templeton Dragon Fund Inc. | Reduce -33.8% | 0.37% | −0.26 |
| VLT Invesco High Income Trust II | Reduce -55.2% | 0.18% | −0.25 |
| SABA Saba Capital Income & Opp II | Reduce -2.0% | 1.15% | −0.25 |
| JHI John Hancock Investors TR | Reduce -21.5% | 0.59% | −0.24 |
| BWG Brandywineglobal Global Inco | Reduce -11.9% | 0.82% | −0.23 |
| CGO Calamos Global Total Return | Reduce -14.6% | 0.67% | −0.22 |
| FINS Angel Oak Financ Strat Inc. | Reduce -27.4% | 0.44% | −0.21 |
| BGX Blackstone Long-Short Credit | Reduce -47.9% | 0.18% | −0.20 |
| XRSFX Rivernorth Capital & Income | Sold out | 0.00% | −0.19 |
| SDHY Pgim SHRT Durat Hi YLD | Reduce -9.3% | 0.90% | −0.18 |
| ERC Allspring Multi-Sector Inc. | Reduce -5.1% | 1.03% | −0.18 |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | Reduce -20.4% | 0.74% | −0.18 |
| RQI Cohen & Steers Qual Inc. RLTY | Reduce -39.2% | 0.17% | −0.16 |
| IGI Western Asst Inv GR Oppor TR | Sold out | 0.00% | −0.15 |
| DBL Doubleline Opport Credit | Sold out | 0.00% | −0.15 |
| JRS Nuveen Real Estate Income | Sold out | 0.00% | −0.14 |
| DFP Flaherty & Crumrine DYN Pref | Reduce -17.9% | 0.38% | −0.14 |
| IAF Abrdn Australia Equity FD Inc. | Sold out | 0.00% | −0.14 |
| AVK Advent Convert & Income | Reduce -56.5% | 0.08% | −0.13 |
| VGI Virtus Global Multi-Sector | Reduce -5.6% | 0.73% | −0.12 |
Portfolio Buys Q3 2025 → Q4 2025
| ARDC Ares Dynamic Credit All | New | 1.03% | +1.03 |
| XETYX Eaton Vance Tax-MGD Div Eqty | New | 1.02% | +1.02 |
| KIO KKR Income Opportunities | Add +428.1% | 1.13% | +0.88 |
| GHY Pgim Global High Yield Fund | Add +646.9% | 0.87% | +0.74 |
| NFJ Virtus DVD Intrst & PRM STR | Add +364.9% | 0.91% | +0.69 |
| BIT BlackRock Multi-Sector Inc. | New | 0.69% | +0.69 |
| QQQX Nuveen Nasdaq 100 DYN Overwr | Add +69.1% | 1.84% | +0.69 |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | Add +110.1% | 1.37% | +0.68 |
| HYI Western Asset High Yield Opp | Add +452.8% | 0.82% | +0.65 |
| HTD John Hancock Tax Adv DVD Inc. | Add +469.3% | 0.77% | +0.62 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +66.2% | 1.69% | +0.61 |
| WDI Western Asset Divers Inc. | New | 0.59% | +0.59 |
| CPZ Calamos LNG/SHRT Eqty & DYN | New | 0.59% | +0.59 |
| XEXGX Eaton Vance Tax-Managed Glob | Add +283.5% | 0.80% | +0.59 |
| TY Tri-Continental Corp. | Add +455.5% | 0.73% | +0.58 |
| XIGDX Voya GLBL Eqty DVD & PRM Opp | New | 0.56% | +0.56 |
| GAM General American Investors | New | 0.54% | +0.54 |
| PTA Cohen & Steers Tax-Advantage | Add +173.1% | 0.90% | +0.52 |
| EOS Eaton Vance Enh Eqt Inc. II | Add +73.6% | 1.37% | +0.50 |
| FAX Abrdn Asia-Pacific Income | New | 0.49% | +0.49 |
| HIO Western Asset Hi Inc. Opport | Add +191.0% | 0.72% | +0.44 |
| RA Brookfield Real Assets Incom | Add +260.6% | 0.63% | +0.43 |
| NPCT Nuveen Core Plus Impact | Add +98.6% | 0.92% | +0.37 |
| IGA Voya Global Advan & Prem Opp | Add +483.5% | 0.44% | +0.36 |
| TBLD Thornburg Income Builder Opp | New | 0.35% | +0.35 |
| XGDVX Gabelli Dividend & Income TR | Add +113.4% | 0.65% | +0.33 |
| XEVGX Eaton Vance Short Dur Div Inc. | Add +328.8% | 0.41% | +0.30 |
| XSCDX LMP Capital and Income Fund | Add +341.1% | 0.39% | +0.29 |
| XAI OCTAGN FLT RAT & ALT INM | New | 0.28% | +0.28 |
| JGH Nuveen Global High Income | Add +66.6% | 0.93% | +0.28 |
| XRNPX Cohen & Steers REIT and Pref | New | 0.25% | +0.25 |
| PFN PIMCO Income Strategy FD II | New | 0.25% | +0.25 |
| BRW Saba Capital Income & Opport | Add +199.8% | 0.40% | +0.24 |
| XFRAX BlackRock Fltng RT Inc. Strat | New | 0.24% | +0.24 |
| XAWFX Alliancebernstein GL Hi Inc. | Add +62.9% | 0.73% | +0.22 |
| GDO Western Ast GLB Corp. Opprnty | Add +180.9% | 0.36% | +0.22 |
| MSD Morgan Stanley Emrg MKT Debt | Add +97.8% | 0.43% | +0.19 |
| EFT Eaton Vance Fltng RT Inc. TR | Add +423.5% | 0.24% | +0.19 |
| FFA First Trust Enhan Eqty Inc. | Add +16.8% | 2.00% | +0.19 |
| BGT BlackRock Fltng RT Inc. TR | New | 0.18% | +0.18 |
| ETO Eaton Vance T/A GLBL DVD Opp | Add +17.4% | 1.10% | +0.18 |
| XLGIX Lazard GLBL TTL RTRN & Inc. | New | 0.18% | +0.18 |
| NMAI Nuveen Multi-Asset Income | Add +52.7% | 0.63% | +0.17 |
| NBXG Neuberger Next Generation Co. | New | 0.17% | +0.17 |
| BGH Barings GLBL SHRT Dur Hi YLD | New | 0.16% | +0.16 |
| MCN Xai Madison Equity Premium I | Add +27.9% | 1.30% | +0.16 |
| XJQCX Nuveen Credit Strategies Inc. | New | 0.16% | +0.16 |
| ACP Abrdn Income Credit Strat | Add +34.4% | 1.03% | +0.15 |
| XPGPX PIMCO GLBL Stockspl & Inc. | Add +81.7% | 0.33% | +0.15 |
| ASG Liberty All-Star Growth FD | Add +17.7% | 2.65% | +0.15 |
Notes & Other Activity Q3 2025 → Q4 2025
| BLACKROCK INCOME TR-RT | RIGHT 10/20/2025 | Sold out | 24,402 | $0before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 148 | $319.2M | GAB, RVT, USA, SPE, JCE |
| Q1 2026 | 145 | $286.9M | CSQ, JCE, ASG, ETG, FFA |
| Q4 2025 | 165 | $315.5M | JCE, RMT, ASG, ETB, USA |
| Q3 2025 | 148 | $291.6M | CSQ, RMT, JCE, USA, ETB |
| Q2 2025 | 147 | $275.8M | CET, RMT, RVT, JCE, ETB |
| Q1 2025 | 153 | $256.9M | CET, GAM, RMT, ETB, ASG |
| Q4 2024 | 176 | $261.0M | STEW, CET, RMT, ASG, CSQ |
| Q3 2024 | 157 | $265.3M | STEW, FUND, QQQX, ASG, CII |
| Q2 2024 | 157 | $247.3M | STEW, FUND, ASG, QQQX, XBXMX |
| Q1 2024 | 157 | $258.4M | STEW, FUND, ASG, XBXMX, CET |