KARPUS MANAGEMENT, INC.

Filed: 2/13/2024ACC: 0001072613-24-000246

📋 What this filing means

KARPUS MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 257 equity positions with a total reported market value of $3.29B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

257

Positions

$3.29B

Total AUM (reported)

259.40M

Total Shares

Allocation by class

COM$1.79B54.4%

S&P 500 ETF SHS$187.63M5.7%

COM SH BEN INT$168.93M5.1%

CORE S&P500 ETF$109.14M3.3%

SH BEN INT$76.48M2.3%

SMALL CP ETF$72.44M2.2%

SHS BEN INT$57.89M1.8%

Portfolio Concentration

Top 3$653.51M19.9%

4–10$720.44M21.9%

11–25$672.53M20.5%

Rest$1.24B37.7%

Top 3 weight

19.9%

Top 10 weight

41.8%

Voting Authority Distribution

Total shares with voting rights: 259.40M

Sole

Full voting authority

257.27M

% of voting shares99.2%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

2.12M

% of voting shares0.8%

Investment Discretion (by position count)

Sole257

Shared0

Other0

Dominant voting typeSole · 99.2% of voting shares

Institutional Holdings257

Rows:

NUVEEN AMT-FR QLTY MUNI INC

SOLE

COM

Shares23.66M

TypeSH

Market value$260.24M

7.92%

Sole

23.42M

Shared

0.00

None

237.50K

NUVEEN NY AMT FREE MUN INCOME COM

SOLE

COM

Shares19.53M

TypeSH

Market value$205.65M

6.26%

Sole

19.18M

Shared

0.00

None

345K

VANGUARD INDEX FDS S&P 500 ETF SH

SOLE

S&P 500 ETF SHS

Shares429.55K

TypeSH

Market value$187.63M

5.71%

Sole

429.55K

Shared

0.00

None

0.00

BLACKROCK MUNICIPAL INCOME FUND

SOLE

COM

Shares12.40M

TypeSH

Market value$144.38M

4.39%

Sole

12.28M

Shared

0.00

None

125K

NUVEEN QUALITY MUNICIPAL INCOME FUND

SOLE

COM

Shares11.76M

TypeSH

Market value$134.69M

4.10%

Sole

11.66M

Shared

0.00

None

100K

ISHARES CORE S&P500 ETF

SOLE

CORE S&P500 ETF

Shares228.50K

TypeSH

Market value$109.14M

3.32%

Sole

228.50K

Shared

0.00

None

0.00

EATON VANCE MUN BD FD COM

SOLE

COM

Shares10.33M

TypeSH

Market value$104.64M

3.18%

Sole

10.33M

Shared

0.00

None

0.00

NUVEEN MUNICIPAL CREDIT INCOME FUND

SOLE

COM SH BEN INT

Shares7.23M

TypeSH

Market value$85.42M

2.60%

Sole

7.13M

Shared

0.00

None

97K

VANGUARD INDEX FDS SMALL CP ETF

SOLE

SMALL CP ETF

Shares339.55K

TypeSH

Market value$72.44M

2.20%

Sole

339.55K

Shared

0.00

None

0.00

NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUND

SOLE

COM

Shares6.29M

TypeSH

Market value$69.73M

2.12%

Sole

6.29M

Shared

0.00

None

0.00

BLACKROCK MUNIHOLDINGS FUND INC

SOLE

COM

Shares5.65M

TypeSH

Market value$67.24M

2.05%

Sole

5.65M

Shared

0.00

None

0.00

BLACKROCK MUNIVEST FUND

SOLE

COM

Shares9.25M

TypeSH

Market value$65.89M

2.00%

Sole

9.25M

Shared

0.00

None

0.00

WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT

SOLE

COM SH BEN INT

Shares7.15M

TypeSH

Market value$58.02M

1.77%

Sole

6.91M

Shared

0.00

None

235K

BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST

SOLE

COM SHS BEN IN

Shares2.51M

TypeSH

Market value$52.25M

1.59%

Sole

2.51M

Shared

0.00

None

0.00

VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF

SOLE

FTSE EMR MKT ETF

Shares1.27M

TypeSH

Market value$52.21M

1.59%

Sole

1.27M

Shared

0.00

None

0.00

ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST

SOLE

COM BEN INT

Shares4.22M

TypeSH

Market value$50.30M

1.53%

Sole

4.08M

Shared

0.00

None

145.50K

BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND

SOLE

COM

Shares3.77M

TypeSH

Market value$42.00M

1.28%

Sole

3.77M

Shared

0.00

None

0.00

NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND

SOLE

COMMON STOCK

Shares3.83M

TypeSH

Market value$41.84M

1.27%

Sole

3.83M

Shared

0.00

None

0.00

BLACKROCK MUNICIPAL INCOME TRUST

SOLE

SH BEN INT

Shares3.83M

TypeSH

Market value$38.61M

1.17%

Sole

3.83M

Shared

0.00

None

0.00

GABELLI DIVD & INCOME TR COM

SOLE

COM

Shares1.77M

TypeSH

Market value$38.32M

1.17%

Sole

1.77M

Shared

0.00

None

0.00

VANGUARD INDEX FDS TOTAL STK MKT

SOLE

TOTAL STK MKT

Shares151.74K

TypeSH

Market value$36.00M

1.10%

Sole

151.74K

Shared

0.00

None

0.00

Virtus DVD Intrst & PRM STR

SOLE

COM

Shares2.77M

TypeSH

Market value$34.91M

1.06%

Sole

2.77M

Shared

0.00

None

0.00

BLACKROCK MUN INC TRUST II

SOLE

COM

Shares3.09M

TypeSH

Market value$32.96M

1.00%

Sole

3.09M

Shared

0.00

None

0.00

INVESCO TRUST FOR INVESTMENT G

SOLE

COM

Shares3.20M

TypeSH

Market value$31.64M

0.96%

Sole

3.20M

Shared

0.00

None

0.00

BlackRock MuniYield Quality Fund III

SOLE

COM

Shares2.61M

TypeSH

Market value$30.34M

0.92%

Sole

2.61M

Shared

0.00

None

0.00

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
NUVEEN AMT-FR QLTY MUNI INCSOLE	COM	23.66M	SH	$260.24M 7.92%	23.42M	237.50K
NUVEEN NY AMT FREE MUN INCOME COMSOLE	COM	19.53M	SH	$205.65M 6.26%	19.18M	345K
VANGUARD INDEX FDS S&P 500 ETF SHSOLE	S&P 500 ETF SHS	429.55K	SH	$187.63M 5.71%	429.55K	0.00
BLACKROCK MUNICIPAL INCOME FUNDSOLE	COM	12.40M	SH	$144.38M 4.39%	12.28M	125K
NUVEEN QUALITY MUNICIPAL INCOME FUNDSOLE	COM	11.76M	SH	$134.69M 4.10%	11.66M	100K
ISHARES CORE S&P500 ETFSOLE	CORE S&P500 ETF	228.50K	SH	$109.14M 3.32%	228.50K	0.00
EATON VANCE MUN BD FD COMSOLE	COM	10.33M	SH	$104.64M 3.18%	10.33M	0.00
NUVEEN MUNICIPAL CREDIT INCOME FUNDSOLE	COM SH BEN INT	7.23M	SH	$85.42M 2.60%	7.13M	97K
VANGUARD INDEX FDS SMALL CP ETFSOLE	SMALL CP ETF	339.55K	SH	$72.44M 2.20%	339.55K	0.00
NUVEEN CALIFORNIA QUALITY MUNICIPAL INCOME FUNDSOLE	COM	6.29M	SH	$69.73M 2.12%	6.29M	0.00
BLACKROCK MUNIHOLDINGS FUND INCSOLE	COM	5.65M	SH	$67.24M 2.05%	5.65M	0.00
BLACKROCK MUNIVEST FUNDSOLE	COM	9.25M	SH	$65.89M 2.00%	9.25M	0.00
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INTSOLE	COM SH BEN INT	7.15M	SH	$58.02M 1.77%	6.91M	235K
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUSTSOLE	COM SHS BEN IN	2.51M	SH	$52.25M 1.59%	2.51M	0.00
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETFSOLE	FTSE EMR MKT ETF	1.27M	SH	$52.21M 1.59%	1.27M	0.00
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUSTSOLE	COM BEN INT	4.22M	SH	$50.30M 1.53%	4.08M	145.50K
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUNDSOLE	COM	3.77M	SH	$42.00M 1.28%	3.77M	0.00
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUNDSOLE	COMMON STOCK	3.83M	SH	$41.84M 1.27%	3.83M	0.00
BLACKROCK MUNICIPAL INCOME TRUSTSOLE	SH BEN INT	3.83M	SH	$38.61M 1.17%	3.83M	0.00
GABELLI DIVD & INCOME TR COMSOLE	COM	1.77M	SH	$38.32M 1.17%	1.77M	0.00
VANGUARD INDEX FDS TOTAL STK MKTSOLE	TOTAL STK MKT	151.74K	SH	$36.00M 1.10%	151.74K	0.00
Virtus DVD Intrst & PRM STRSOLE	COM	2.77M	SH	$34.91M 1.06%	2.77M	0.00
BLACKROCK MUN INC TRUST IISOLE	COM	3.09M	SH	$32.96M 1.00%	3.09M	0.00
INVESCO TRUST FOR INVESTMENT GSOLE	COM	3.20M	SH	$31.64M 0.96%	3.20M	0.00
BlackRock MuniYield Quality Fund IIISOLE	COM	2.61M	SH	$30.34M 0.92%	2.61M	0.00

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