Karpus Management, Inc. — 13F Holdings & Portfolio
CIK 1048703 · latest 13F-HR filed 2026-08-14
Karpus Management, Inc. manages $3.48B in 13F-reported U.S. long-equity assets across 233 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VOO (7.24%), MHD (6.78%), BLV (4.23%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 27 new positions, exited 25, added to 78, and trimmed 22.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Filer Information
Address
183 SULLY'S TRAILPITTSFORD, NY 14534
Phone
(585) 586-4680
Filing Manager
Karpus Management, Inc.
Pittsford, NY
Signatory
Jodi Hedberg
Chief Compliance Officer
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AUM
$3.48B
Long-equity book
Holdings
233
Distinct positions
Period
2026-06-30
Filed 2026-08-14
Q/Q Activity
+27 / −25 / ↑78 / ↓22
vs 2026-03-31
Firm Profile & Key People
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- ISHARES LEHMAN 20plus YR TREAS$52.6M +221.9%
- ISHARES LEHMAN 7-10YR TREAS$28.8M +1107.6%
- VANGUARD INDEX FDS S&P 500 ETF SH$17.0M +7.2%
- VANGUARD BD INDEX FD INC TOTAL BND MRKT$15.7M +61.1%
- ALLIANCE NATIONAL MUNICIPAL INCOME FUND$13.8M +50.6%
Top Trims
- QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00-$13.1M -56.2%
- PLUM ACQ CRP IV; TNT ACQ DT: 7/15/2026; CASH: $10.10-$6.9M -98.2%
- EATON VANCE MUN BD FD COM-$5.9M -26.3%
- BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND-$5.4M -9.6%
- DWS MUNICIPAL INCOME TRUST-$4.5M -15.2%
New Positions
- APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05$26.3M
- VERNAL CAPITAL ACQ CRP; TNT ACQ DT: 2/6/2028; CASH: $10.00$14.8M
- ACP ACQ CRP; TNT ACQ DT: 10/7/2027; CASH: $10.05$13.4M
- BHAV ACQ CRP; TNT ACQ DT: 6/19/2027; CASH: $10.00$12.6M
- APEX TECH ACQ CRP; TNT ACQ DT: 5/26/2027; CASH: $10.00$11.7M
Exited Positions
- GP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.00$24.2M
- LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00$23.5M
- SIM ACQ CRP; TNT ACQ DT8/30/2024 7/12/2026; CASH $10.00$18.5M
- LAUNCH ONE ACP CRP; TNT ACQ DT: 7/12/2026; CASH: $10.00$11.6M
- LIONHEART HOLDINGS ACQ CRP; TNT ACQ DT: 6/18/2026; CASH $10.00$11.1M
All Holdings
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS S&P 500 ETF SH | VOO | 922908363 | $251.7M | 7.24% | 366,496 | SH |
| 2 | BLACKROCK MUNIHOLDINGS FUND INC | MHD | 09253N104 | $235.8M | 6.78% | 19,816,954 | SH |
| 3 | VANGUARD BD INDEX FD INC LONG TERM BOND | BLV | 921937793 | $147.0M | 4.23% | 2,132,736 | SH |
| 4 | BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST | BTT | 09257P105 | $105.6M | 3.04% | 4,641,247 | SH |
| 5 | VANGUARD INDEX FDS SMALL CP ETF | VB | 922908751 | $96.9M | 2.79% | 319,556 | SH |
| 6 | BLACKROCK MUNIYIELD NEW YORK QUALITY FUND INC | MYN | 09255E102 | $80.6M | 2.32% | 7,938,637 | SH |
| 7 | VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF | VWO | 922042858 | $77.3M | 2.22% | 1,294,280 | SH |
| 8 | VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US | VEU | 922042775 | $76.4M | 2.20% | 911,846 | SH |
| 9 | ISHARES LEHMAN 20plus YR TREAS | TLT | 464287432 | $76.3M | 2.20% | 882,953 | SH |
| 10 | WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT | WIA | 95766Q106 | $70.3M | 2.02% | 8,648,798 | SH |
| 11 | BlackRock MuniYield Quality Fund III | MYI | 09254E103 | $60.5M | 1.74% | 5,442,103 | SH |
| 12 | ISHARES CORE S&P500 ETF | IVV | 464287200 | $60.4M | 1.74% | 80,591 | SH |
| 13 | ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST | FINS | 03464A100 | $59.6M | 1.71% | 4,654,677 | SH |
| 14 | BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND | MUC | 09254L107 | $50.6M | 1.46% | 4,603,531 | SH |
| 15 | NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND | NBXG | 64133Q108 | $49.3M | 1.42% | 2,981,177 | SH |
| 16 | VANGUARD CORE TAX EXEMPT BOND ETF | VCRM | 922907712 | $46.9M | 1.35% | 613,630 | SH |
| 17 | GABELLI DIVD & INCOME TR COM | GDV | 36242H104 | $42.5M | 1.22% | 1,444,270 | SH |
| 18 | CALAMOS STRAT TOT RETURN FD | CSQ | 128125101 | $42.2M | 1.21% | 2,052,204 | SH |
| 19 | NUVEEN NAS100 DYN OVERWRT FD | QQQX | 670699107 | $42.0M | 1.21% | 1,393,850 | SH |
| 20 | VANGUARD BD INDEX FD INC TOTAL BND MRKT | BND | 921937835 | $41.5M | 1.19% | 565,055 | SH |
| 21 | ALLIANCE NATIONAL MUNICIPAL INCOME FUND | AFB | 01864U106 | $41.1M | 1.18% | 3,603,262 | SH |
| 22 | VANGUARD FTSE PACIFIC ETF | VPL | 922042866 | $39.0M | 1.12% | 337,048 | SH |
| 23 | ISHARES TR CORE MSCI EURO | IEUR | 46434V738 | $36.2M | 1.04% | 481,445 | SH |
| 24 | BLACKROCK SCIENCE & TECH TR | BST | 09258G104 | $32.4M | 0.93% | 639,482 | SH |
| 25 | ISHARES LEHMAN 7-10YR TREAS | IEF | 464287440 | $31.4M | 0.90% | 331,612 | SH |
| 26 | ISHARES RUSSELL 1000 ETF | IWB | 464287622 | $30.5M | 0.88% | 74,490 | SH |
| 27 | SC ACQ CRP II; TNT ACQ DT: 5/25/2027; CASH: $10.00 | SCII | G7866D102 | $29.5M | 0.85% | 2,942,837 | SH |
| 28 | DRUGS MADE IN AMERICA ACQ CRP II; TNT ACQ DT: 9/25/2027; CASH: $10.00 | DMII | G2851K104 | $28.0M | 0.81% | 2,787,998 | SH |
| 29 | BLACKROCK MUNIYIELD QUALITY | MQY | 09254F100 | $28.0M | 0.81% | 2,414,908 | SH |
| 30 | DRUGS MADE IN AMERICA ACQ CRP: 4/28/2026; CASH: $10.05 | DMAA | G2847J104 | $26.7M | 0.77% | 2,507,817 | SH |
| 31 | APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05 | AACP | G04126101 | $26.3M | 0.76% | 2,648,075 | SH |
| 32 | VANGUARD INDEX FDS TOTAL STK MKT | VTI | 922908769 | $25.4M | 0.73% | 68,670 | SH |
| 33 | DWS MUNICIPAL INCOME TRUST | KTF | 233368109 | $25.4M | 0.73% | 2,760,957 | SH |
| 34 | VANGUARD INTL EQUITY INDEX FD FTSE EUROPE ETF | VGK | 922042874 | $25.1M | 0.72% | 283,483 | SH |
| 35 | LIBERTY ALL-STAR GROWTH FD | ASG | 529900102 | $24.9M | 0.72% | 4,548,670 | SH |
| 36 | CALAMOS GLOBAL DYNAMIC INCOME FUND | CHW | 12811L107 | $21.9M | 0.63% | 2,460,540 | SH |
| 37 | FINANCIAL SELECT SECTOR SPDR | XLF | 81369Y605 | $21.8M | 0.63% | 405,788 | SH |
| 38 | EATON VANCE TAX-ADV GLOBAL DIV OPP FUND | ETO | 27828U106 | $21.6M | 0.62% | 699,132 | SH |
| 39 | AI INFRASTRUCTURE ACQ CRP; TNT ACQ DT: 4/3/2027; CASH: $10.00 | AIIA | G01336109 | $20.6M | 0.59% | 2,009,049 | SH |
| 40 | TAVIA ACQ CRP; TNT ACQ DT: 6/4/2026; CASH: $10.05 | TAVI | G86880104 | $20.2M | 0.58% | 1,893,627 | SH |
| 41 | BLACKROCK INCOME TR INC COM | BKT | 09247F209 | $19.6M | 0.56% | 1,828,427 | SH |
| 42 | ISHARES EMU ETF | EZU | 464286608 | $19.4M | 0.56% | 278,697 | SH |
| 43 | VANGUARD WORLD FDS INF TECH ETF | VGT | 92204A702 | $19.3M | 0.55% | 161,378 | SH |
| 44 | LIBERTY ALL-STAR EQUITY FUND | USA | 530158104 | $19.0M | 0.55% | 3,271,867 | SH |
| 45 | MCKINLEY ACQ CRP; TNT ACQ DT: 8/12/2027; CASH: $10.00 | MKLY | G6005T101 | $18.5M | 0.53% | 1,825,871 | SH |
| 46 | AGRICULTURE & NATURAL SOLUTIONS ACQ CRP; TNT ACQ DT: 11/10/2025; CASH: $10.00 | ANSC | G0131Y100 | $18.4M | 0.53% | 1,613,968 | SH |
| 47 | ISHARES MSCI CDA ETF | EWC | 464286509 | $18.3M | 0.53% | 317,284 | SH |
| 48 | PIMCO CALIFORNIA MUNICIPAL INC | PCQ | 72200N106 | $18.2M | 0.52% | 2,031,479 | SH |
| 49 | PACER GLOBAL CASH COWS DIVIDEND | GCOW | 69374H709 | $17.9M | 0.51% | 413,372 | SH |
| 50 | RF ACQUISITION CORP II. TNT ACQ DT: 11/21/2025; CASH: $10.05 | RFAI | G75389109 | $17.9M | 0.51% | 1,619,533 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $3.48B | 233 | 0001072613-26-000683 |
| 2026-03-31 | 2026-05-14 | $3.21B | 231 | 0001072613-26-000439 |
| 2025-12-31 | 2026-02-17 | $3.26B | 214 | 0001072613-26-000189 |
| 2025-12-31 | 2026-02-13 | $489.0M | 100 | 0001072613-26-000174 |