KARPUS MANAGEMENT, INC.

Filed: 5/11/2023ACC: 0001072613-23-000324

📋 What this filing means

KARPUS MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 376 equity positions with a total reported market value of $3.19B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

376

Positions

$3.19B

Total AUM (reported)

238.19M

Total Shares

Allocation by class

COM$1.44B45.2%

S&P 500 ETF SHS$180.35M5.7%

CLASS A COM$154.99M4.9%

CORE S&P500 ETF$122.38M3.8%

COM SH BEN INT$118.97M3.7%

SMALL CP ETF$71.05M2.2%

COMMON STOCK$69.92M2.2%

Portfolio Concentration

Top 3$497.19M15.6%

4–10$537.95M16.9%

11–25$540.89M17.0%

Rest$1.61B50.6%

Top 3 weight

15.6%

Top 10 weight

32.5%

Voting Authority Distribution

Total shares with voting rights: 238.19M

Sole

Full voting authority

235.75M

% of voting shares99.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

2.45M

% of voting shares1.0%

Investment Discretion (by position count)

Sole376

Shared0

Other0

Dominant voting typeSole · 99.0% of voting shares

Institutional Holdings376

Rows:

VANGUARD INDEX FDS S&P 500 ETF SH

SOLE

S&P 500 ETF SHS

Shares479.56K

TypeSH

Market value$180.35M

5.66%

Sole

479.56K

Shared

0.00

None

0.00

NUVEEN NY AMT FREE MUN INCOME COM

SOLE

COM

Shares15.02M

TypeSH

Market value$158.76M

4.98%

Sole

14.68M

Shared

0.00

None

345K

NUVEEN AMT-FR QLTY MUNI INC

SOLE

COM

Shares14.22M

TypeSH

Market value$158.08M

4.96%

Sole

14.11M

Shared

0.00

None

110K

ISHARES CORE S&P500 ETF

SOLE

CORE S&P500 ETF

Shares297.72K

TypeSH

Market value$122.38M

3.84%

Sole

297.72K

Shared

0.00

None

0.00

BLACKROCK MUNICIPAL INCOME FUND

SOLE

COM

Shares9.80M

TypeSH

Market value$114.41M

3.59%

Sole

9.67M

Shared

0.00

None

125K

VANGUARD INDEX FDS SMALL CP ETF

SOLE

SMALL CP ETF

Shares374.80K

TypeSH

Market value$71.05M

2.23%

Sole

374.80K

Shared

0.00

None

0.00

EATON VANCE MUN BD FD COM

SOLE

COM

Shares6.55M

TypeSH

Market value$68.08M

2.14%

Sole

6.55M

Shared

0.00

None

0.00

VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF

SOLE

FTSE EMR MKT ETF

Shares1.47M

TypeSH

Market value$59.43M

1.86%

Sole

1.47M

Shared

0.00

None

0.00

WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT

SOLE

COM SH BEN INT

Shares6.13M

TypeSH

Market value$53.05M

1.66%

Sole

5.90M

Shared

0.00

None

235K

NUVEEN QUALITY MUNICIPAL INCOME FUND

SOLE

COM

Shares4.30M

TypeSH

Market value$49.55M

1.55%

Sole

4.30M

Shared

0.00

None

0.00

APOLLO STRATEGIC GROWTH CAITAL II TNT ACQ DT: 02/10/2023; CASH: $10.00

SOLE

SHS CL A

Shares4.47M

TypeSH

Market value$45.80M

1.44%

Sole

4.32M

Shared

0.00

None

150K

BLACKROCK MUNIVEST FUND

SOLE

COM

Shares6.37M

TypeSH

Market value$44.05M

1.38%

Sole

6.37M

Shared

0.00

None

0.00

BLACKROCK MUNIHOLDINGS FUND INC

SOLE

COM

Shares3.48M

TypeSH

Market value$41.97M

1.32%

Sole

3.48M

Shared

0.00

None

0.00

NUVEEN MUNICIPAL CREDIT INCOME FUND

SOLE

COM SH BEN INT

Shares3.36M

TypeSH

Market value$40.20M

1.26%

Sole

3.28M

Shared

0.00

None

87.50K

VANGUARD INDEX FDS TOTAL STK MKT

SOLE

TOTAL STK MKT

Shares193.01K

TypeSH

Market value$39.39M

1.24%

Sole

193.01K

Shared

0.00

None

0.00

GABELLI DIVD & INCOME TR COM

SOLE

COM

Shares1.70M

TypeSH

Market value$35.38M

1.11%

Sole

1.70M

Shared

0.00

None

0.00

NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND

SOLE

COMMON STOCK

Shares3.38M

TypeSH

Market value$35.13M

1.10%

Sole

3.38M

Shared

0.00

None

0.00

NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND

SOLE

COM

Shares3.15M

TypeSH

Market value$34.69M

1.09%

Sole

3.15M

Shared

0.00

None

0.00

BlackRock MuniYield Quality Fund III

SOLE

COM

Shares3.03M

TypeSH

Market value$34.40M

1.08%

Sole

3.03M

Shared

0.00

None

0.00

BlackRock ESG Capital Allocation Trust

SOLE

SHS BEN INT

Shares2.15M

TypeSH

Market value$33.59M

1.05%

Sole

2.15M

Shared

0.00

None

0.00

NUVEEN OHIO QUALITY INCOME MUN COM

SOLE

COM

Shares2.63M

TypeSH

Market value$33.48M

1.05%

Sole

2.63M

Shared

0.00

None

0.00

VANGUARD FTSE PACIFIC ETF

SOLE

FTSE PACIFIC ETF

Shares468.67K

TypeSH

Market value$31.79M

1.00%

Sole

468.67K

Shared

0.00

None

0.00

BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST

SOLE

COM SHS BEN IN

Shares1.41M

TypeSH

Market value$30.67M

0.96%

Sole

1.41M

Shared

0.00

None

0.00

INVESCO QUALITY MUNI INC TRST COM

SOLE

COM

Shares3.05M

TypeSH

Market value$30.40M

0.95%

Sole

3.05M

Shared

0.00

None

0.00

INVESCO MUNICIPAL TRUST

SOLE

COM

Shares3.02M

TypeSH

Market value$29.94M

0.94%

Sole

2.87M

Shared

0.00

None

143.82K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
VANGUARD INDEX FDS S&P 500 ETF SHSOLE	S&P 500 ETF SHS	479.56K	SH	$180.35M 5.66%	479.56K	0.00
NUVEEN NY AMT FREE MUN INCOME COMSOLE	COM	15.02M	SH	$158.76M 4.98%	14.68M	345K
NUVEEN AMT-FR QLTY MUNI INCSOLE	COM	14.22M	SH	$158.08M 4.96%	14.11M	110K
ISHARES CORE S&P500 ETFSOLE	CORE S&P500 ETF	297.72K	SH	$122.38M 3.84%	297.72K	0.00
BLACKROCK MUNICIPAL INCOME FUNDSOLE	COM	9.80M	SH	$114.41M 3.59%	9.67M	125K
VANGUARD INDEX FDS SMALL CP ETFSOLE	SMALL CP ETF	374.80K	SH	$71.05M 2.23%	374.80K	0.00
EATON VANCE MUN BD FD COMSOLE	COM	6.55M	SH	$68.08M 2.14%	6.55M	0.00
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETFSOLE	FTSE EMR MKT ETF	1.47M	SH	$59.43M 1.86%	1.47M	0.00
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INTSOLE	COM SH BEN INT	6.13M	SH	$53.05M 1.66%	5.90M	235K
NUVEEN QUALITY MUNICIPAL INCOME FUNDSOLE	COM	4.30M	SH	$49.55M 1.55%	4.30M	0.00
APOLLO STRATEGIC GROWTH CAITAL II TNT ACQ DT: 02/10/2023; CASH: $10.00SOLE	SHS CL A	4.47M	SH	$45.80M 1.44%	4.32M	150K
BLACKROCK MUNIVEST FUNDSOLE	COM	6.37M	SH	$44.05M 1.38%	6.37M	0.00
BLACKROCK MUNIHOLDINGS FUND INCSOLE	COM	3.48M	SH	$41.97M 1.32%	3.48M	0.00
NUVEEN MUNICIPAL CREDIT INCOME FUNDSOLE	COM SH BEN INT	3.36M	SH	$40.20M 1.26%	3.28M	87.50K
VANGUARD INDEX FDS TOTAL STK MKTSOLE	TOTAL STK MKT	193.01K	SH	$39.39M 1.24%	193.01K	0.00
GABELLI DIVD & INCOME TR COMSOLE	COM	1.70M	SH	$35.38M 1.11%	1.70M	0.00
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUNDSOLE	COMMON STOCK	3.38M	SH	$35.13M 1.10%	3.38M	0.00
NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUNDSOLE	COM	3.15M	SH	$34.69M 1.09%	3.15M	0.00
BlackRock MuniYield Quality Fund IIISOLE	COM	3.03M	SH	$34.40M 1.08%	3.03M	0.00
BlackRock ESG Capital Allocation TrustSOLE	SHS BEN INT	2.15M	SH	$33.59M 1.05%	2.15M	0.00
NUVEEN OHIO QUALITY INCOME MUN COMSOLE	COM	2.63M	SH	$33.48M 1.05%	2.63M	0.00
VANGUARD FTSE PACIFIC ETFSOLE	FTSE PACIFIC ETF	468.67K	SH	$31.79M 1.00%	468.67K	0.00
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUSTSOLE	COM SHS BEN IN	1.41M	SH	$30.67M 0.96%	1.41M	0.00
INVESCO QUALITY MUNI INC TRST COMSOLE	COM	3.05M	SH	$30.40M 0.95%	3.05M	0.00
INVESCO MUNICIPAL TRUSTSOLE	COM	3.02M	SH	$29.94M 0.94%	2.87M	143.82K

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