KARPUS MANAGEMENT, INC.

Filed: 11/9/2023ACC: 0001072613-23-000555

📋 What this filing means

KARPUS MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 275 equity positions with a total reported market value of $2.98B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

275

Positions

$2.98B

Total AUM (reported)

246.19M

Total Shares

Allocation by class

COM$1.46B49.2%

S&P 500 ETF SHS$183.41M6.2%

COM SH BEN INT$160.21M5.4%

CORE S&P500 ETF$115.56M3.9%

CLASS A COM$84.93M2.9%

SMALL CP ETF$68.44M2.3%

SH BEN INT$66.89M2.2%

Portfolio Concentration

Top 3$544.93M18.3%

4–10$601.65M20.2%

11–25$560.49M18.8%

Rest$1.27B42.6%

Top 3 weight

18.3%

Top 10 weight

38.5%

Voting Authority Distribution

Total shares with voting rights: 246.19M

Sole

Full voting authority

244.02M

% of voting shares99.1%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

2.17M

% of voting shares0.9%

Investment Discretion (by position count)

Sole275

Shared0

Other0

Dominant voting typeSole · 99.1% of voting shares

Institutional Holdings275

Rows:

NUVEEN AMT-FR QLTY MUNI INC

SOLE

COM

Shares20.65M

TypeSH

Market value$199.88M

6.72%

Sole

20.42M

Shared

0.00

None

225K

VANGUARD INDEX FDS S&P 500 ETF SH

SOLE

S&P 500 ETF SHS

Shares467.04K

TypeSH

Market value$183.41M

6.16%

Sole

467.04K

Shared

0.00

None

0.00

NUVEEN NY AMT FREE MUN INCOME COM

SOLE

COM

Shares17.11M

TypeSH

Market value$161.64M

5.43%

Sole

16.76M

Shared

0.00

None

345K

ISHARES CORE S&P500 ETF

SOLE

CORE S&P500 ETF

Shares269.11K

TypeSH

Market value$115.56M

3.88%

Sole

269.11K

Shared

0.00

None

0.00

BLACKROCK MUNICIPAL INCOME FUND

SOLE

COM

Shares10.61M

TypeSH

Market value$107.71M

3.62%

Sole

10.49M

Shared

0.00

None

125K

NUVEEN QUALITY MUNICIPAL INCOME FUND

SOLE

COM

Shares9.62M

TypeSH

Market value$97.50M

3.28%

Sole

9.52M

Shared

0.00

None

100K

NUVEEN MUNICIPAL CREDIT INCOME FUND

SOLE

COM SH BEN INT

Shares7.93M

TypeSH

Market value$82.72M

2.78%

Sole

7.83M

Shared

0.00

None

97K

EATON VANCE MUN BD FD COM

SOLE

COM

Shares8.21M

TypeSH

Market value$73.53M

2.47%

Sole

8.21M

Shared

0.00

None

0.00

VANGUARD INDEX FDS SMALL CP ETF

SOLE

SMALL CP ETF

Shares361.97K

TypeSH

Market value$68.44M

2.30%

Sole

361.97K

Shared

0.00

None

0.00

VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF

SOLE

FTSE EMR MKT ETF

Shares1.43M

TypeSH

Market value$56.18M

1.89%

Sole

1.43M

Shared

0.00

None

0.00

WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT

SOLE

COM SH BEN INT

Shares6.91M

TypeSH

Market value$54.00M

1.82%

Sole

6.67M

Shared

0.00

None

235K

BLACKROCK MUNIHOLDINGS FUND INC

SOLE

COM

Shares4.70M

TypeSH

Market value$48.44M

1.63%

Sole

4.70M

Shared

0.00

None

0.00

NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND

SOLE

COM

Shares4.65M

TypeSH

Market value$44.88M

1.51%

Sole

4.65M

Shared

0.00

None

0.00

BLACKROCK MUNIVEST FUND

SOLE

COM

Shares7.35M

TypeSH

Market value$44.56M

1.50%

Sole

7.35M

Shared

0.00

None

0.00

ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST

SOLE

COM BEN INT

Shares3.57M

TypeSH

Market value$43.04M

1.45%

Sole

3.43M

Shared

0.00

None

140K

NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND

SOLE

COMMON STOCK

Shares3.69M

TypeSH

Market value$38.50M

1.29%

Sole

3.69M

Shared

0.00

None

0.00

VANGUARD INDEX FDS TOTAL STK MKT

SOLE

TOTAL STK MKT

Shares173.82K

TypeSH

Market value$36.92M

1.24%

Sole

173.82K

Shared

0.00

None

0.00

BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST

SOLE

COM SHS BEN IN

Shares1.89M

TypeSH

Market value$36.67M

1.23%

Sole

1.89M

Shared

0.00

None

0.00

GABELLI DIVD & INCOME TR COM

SOLE

COM

Shares1.79M

TypeSH

Market value$34.73M

1.17%

Sole

1.79M

Shared

0.00

None

0.00

BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND

SOLE

COM

Shares3.54M

TypeSH

Market value$33.86M

1.14%

Sole

3.54M

Shared

0.00

None

0.00

BLACKROCK MUNICIPAL INCOME TRUST

SOLE

SH BEN INT

Shares3.54M

TypeSH

Market value$31.43M

1.06%

Sole

3.54M

Shared

0.00

None

0.00

Virtus DVD Intrst & PRM STR

SOLE

COM

Shares2.75M

TypeSH

Market value$31.17M

1.05%

Sole

2.75M

Shared

0.00

None

0.00

VANGUARD FTSE PACIFIC ETF

SOLE

FTSE PACIFIC ETF

Shares431.43K

TypeSH

Market value$28.85M

0.97%

Sole

431.43K

Shared

0.00

None

0.00

BLACKROCK ENHANCED INTERNATIONAL DIVIDEND TRUST

SOLE

COM BENE INTER

Shares5.38M

TypeSH

Market value$26.83M

0.90%

Sole

5.38M

Shared

0.00

None

0.00

BlackRock MuniYield Quality Fund III

SOLE

COM

Shares2.79M

TypeSH

Market value$26.62M

0.89%

Sole

2.79M

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NUVEEN AMT-FR QLTY MUNI INCSOLE	COM	20.65M	SH	$199.88M 6.72%	20.42M	225K
VANGUARD INDEX FDS S&P 500 ETF SHSOLE	S&P 500 ETF SHS	467.04K	SH	$183.41M 6.16%	467.04K	0.00
NUVEEN NY AMT FREE MUN INCOME COMSOLE	COM	17.11M	SH	$161.64M 5.43%	16.76M	345K
ISHARES CORE S&P500 ETFSOLE	CORE S&P500 ETF	269.11K	SH	$115.56M 3.88%	269.11K	0.00
BLACKROCK MUNICIPAL INCOME FUNDSOLE	COM	10.61M	SH	$107.71M 3.62%	10.49M	125K
NUVEEN QUALITY MUNICIPAL INCOME FUNDSOLE	COM	9.62M	SH	$97.50M 3.28%	9.52M	100K
NUVEEN MUNICIPAL CREDIT INCOME FUNDSOLE	COM SH BEN INT	7.93M	SH	$82.72M 2.78%	7.83M	97K
EATON VANCE MUN BD FD COMSOLE	COM	8.21M	SH	$73.53M 2.47%	8.21M	0.00
VANGUARD INDEX FDS SMALL CP ETFSOLE	SMALL CP ETF	361.97K	SH	$68.44M 2.30%	361.97K	0.00
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETFSOLE	FTSE EMR MKT ETF	1.43M	SH	$56.18M 1.89%	1.43M	0.00
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INTSOLE	COM SH BEN INT	6.91M	SH	$54.00M 1.82%	6.67M	235K
BLACKROCK MUNIHOLDINGS FUND INCSOLE	COM	4.70M	SH	$48.44M 1.63%	4.70M	0.00
NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUNDSOLE	COM	4.65M	SH	$44.88M 1.51%	4.65M	0.00
BLACKROCK MUNIVEST FUNDSOLE	COM	7.35M	SH	$44.56M 1.50%	7.35M	0.00
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUSTSOLE	COM BEN INT	3.57M	SH	$43.04M 1.45%	3.43M	140K
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUNDSOLE	COMMON STOCK	3.69M	SH	$38.50M 1.29%	3.69M	0.00
VANGUARD INDEX FDS TOTAL STK MKTSOLE	TOTAL STK MKT	173.82K	SH	$36.92M 1.24%	173.82K	0.00
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUSTSOLE	COM SHS BEN IN	1.89M	SH	$36.67M 1.23%	1.89M	0.00
GABELLI DIVD & INCOME TR COMSOLE	COM	1.79M	SH	$34.73M 1.17%	1.79M	0.00
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUNDSOLE	COM	3.54M	SH	$33.86M 1.14%	3.54M	0.00
BLACKROCK MUNICIPAL INCOME TRUSTSOLE	SH BEN INT	3.54M	SH	$31.43M 1.06%	3.54M	0.00
Virtus DVD Intrst & PRM STRSOLE	COM	2.75M	SH	$31.17M 1.05%	2.75M	0.00
VANGUARD FTSE PACIFIC ETFSOLE	FTSE PACIFIC ETF	431.43K	SH	$28.85M 0.97%	431.43K	0.00
BLACKROCK ENHANCED INTERNATIONAL DIVIDEND TRUSTSOLE	COM BENE INTER	5.38M	SH	$26.83M 0.90%	5.38M	0.00
BlackRock MuniYield Quality Fund IIISOLE	COM	2.79M	SH	$26.62M 0.89%	2.79M	0.00

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