Filed: 8/14/2025ACC: 0001072613-25-000614
📋 What this filing means
KARPUS MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 199 equity positions with a total reported market value of $3.10B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
199
Positions
$3.10B
Total AUM (reported)
211.09M
Total Shares
Allocation by class
COM$964.64M31.1%
S&P 500 ETF SHS$259.59M8.4%
ORD SHS CL A$144.75M4.7%
SHS$122.30M3.9%
ORD SHS$113.03M3.6%
SHS CL A$95.77M3.1%
COM SH BEN INT$86.85M2.8%
Portfolio Concentration
Top 3$483.63M15.6%
4–10$509.95M16.4%
11–25$692.15M22.3%
Rest$1.42B45.6%
Top 3 weight
15.6%
Top 10 weight
32.0%
Voting Authority Distribution
Total shares with voting rights: 211.09M
Sole
Full voting authority
211.09M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole199
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings199
Rows:
VANGUARD INDEX FDS S&P 500 ETF SH
SOLEShares457K
TypeSH
Market value$259.59M
8.37%
Sole
457K
Shared
0.00
None
0.00
NUVEEN NY AMT FREE MUN INCOME COM
SOLEShares14.49M
TypeSH
Market value$143.58M
4.63%
Sole
14.49M
Shared
0.00
None
0.00
BLACKROCK MUNIHOLDINGS FUND INC
SOLEShares7.18M
TypeSH
Market value$80.46M
2.59%
Sole
7.18M
Shared
0.00
None
0.00
ISHARES CORE S&P500 ETF
SOLEShares127.96K
TypeSH
Market value$79.45M
2.56%
Sole
127.96K
Shared
0.00
None
0.00
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST
SOLEShares3.59M
TypeSH
Market value$78.54M
2.53%
Sole
3.59M
Shared
0.00
None
0.00
VANGUARD INDEX FDS SMALL CP ETF
SOLEShares324.98K
TypeSH
Market value$77.01M
2.48%
Sole
324.98K
Shared
0.00
None
0.00
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST
SOLEShares5.53M
TypeSH
Market value$71.80M
2.32%
Sole
5.53M
Shared
0.00
None
0.00
EATON VANCE MUN BD FD COM
SOLEShares7.29M
TypeSH
Market value$70.54M
2.27%
Sole
7.29M
Shared
0.00
None
0.00
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT
SOLEShares8.08M
TypeSH
Market value$67.85M
2.19%
Sole
8.08M
Shared
0.00
None
0.00
VANGUARD BD INDEX FD INC LONG TERM BOND
SOLEShares931.25K
TypeSH
Market value$64.76M
2.09%
Sole
931.25K
Shared
0.00
None
0.00
AA MISSION ACQ CRP; TNT ACQ DT: 8/1/2026; CASH: $10.05
SOLEShares6M
TypeSH
Market value$62.55M
2.02%
Sole
6M
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF
SOLEShares1.22M
TypeSH
Market value$60.50M
1.95%
Sole
1.22M
Shared
0.00
None
0.00
BLACKROCK MUNIVEST FUND
SOLEShares9.07M
TypeSH
Market value$59.71M
1.93%
Sole
9.07M
Shared
0.00
None
0.00
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND
SOLEShares3.63M
TypeSH
Market value$52.95M
1.71%
Sole
3.63M
Shared
0.00
None
0.00
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND
SOLEShares4.66M
TypeSH
Market value$48.22M
1.55%
Sole
4.66M
Shared
0.00
None
0.00
NUVEEN NAS100 DYN OVERWRT FD
SOLEShares1.80M
TypeSH
Market value$47.73M
1.54%
Sole
1.80M
Shared
0.00
None
0.00
GABELLI DIVD & INCOME TR COM
SOLEShares1.79M
TypeSH
Market value$46.51M
1.50%
Sole
1.79M
Shared
0.00
None
0.00
SPDR SER TR NUVN BR SHT MUNI
SOLEShares918.50K
TypeSH
Market value$43.93M
1.42%
Sole
918.50K
Shared
0.00
None
0.00
BLACKROCK MUNICIPAL INCOME TRUST
SOLEShares4.50M
TypeSH
Market value$43.20M
1.39%
Sole
4.50M
Shared
0.00
None
0.00
BLACKROCK MUN INC TRUST II
SOLEShares4.29M
TypeSH
Market value$43.05M
1.39%
Sole
4.29M
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US
SOLEShares639.39K
TypeSH
Market value$42.98M
1.39%
Sole
639.39K
Shared
0.00
None
0.00
VANGUARD INDEX FDS TOTAL STK MKT
SOLEShares138K
TypeSH
Market value$41.94M
1.35%
Sole
138K
Shared
0.00
None
0.00
LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00
SOLEShares3.50M
TypeSH
Market value$37.33M
1.20%
Sole
3.50M
Shared
0.00
None
0.00
ISHARES TR CORE MSCI EURO
SOLEShares475.63K
TypeSH
Market value$31.49M
1.02%
Sole
475.63K
Shared
0.00
None
0.00
ISHARES LEHMAN 7-10YR TREAS
SOLEShares313.97K
TypeSH
Market value$30.07M
0.97%
Sole
313.97K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
VANGUARD INDEX FDS S&P 500 ETF SHSOLE | S&P 500 ETF SHS | 457K | SH | $259.59M 8.37% | 457K | 0.00 | 0.00 |
NUVEEN NY AMT FREE MUN INCOME COMSOLE | COM | 14.49M | SH | $143.58M 4.63% | 14.49M | 0.00 | 0.00 |
BLACKROCK MUNIHOLDINGS FUND INCSOLE | COM | 7.18M | SH | $80.46M 2.59% | 7.18M | 0.00 | 0.00 |
ISHARES CORE S&P500 ETFSOLE | CORE S&P500 ETF | 127.96K | SH | $79.45M 2.56% | 127.96K | 0.00 | 0.00 |
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUSTSOLE | COM SHS BEN IN | 3.59M | SH | $78.54M 2.53% | 3.59M | 0.00 | 0.00 |
VANGUARD INDEX FDS SMALL CP ETFSOLE | SMALL CP ETF | 324.98K | SH | $77.01M 2.48% | 324.98K | 0.00 | 0.00 |
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUSTSOLE | COM BEN INT | 5.53M | SH | $71.80M 2.32% | 5.53M | 0.00 | 0.00 |
EATON VANCE MUN BD FD COMSOLE | COM | 7.29M | SH | $70.54M 2.27% | 7.29M | 0.00 | 0.00 |
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INTSOLE | COM SH BEN INT | 8.08M | SH | $67.85M 2.19% | 8.08M | 0.00 | 0.00 |
VANGUARD BD INDEX FD INC LONG TERM BONDSOLE | LONG TERM BOND | 931.25K | SH | $64.76M 2.09% | 931.25K | 0.00 | 0.00 |
AA MISSION ACQ CRP; TNT ACQ DT: 8/1/2026; CASH: $10.05SOLE | ORD SHS CL A | 6M | SH | $62.55M 2.02% | 6M | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETFSOLE | FTSE EMR MKT ETF | 1.22M | SH | $60.50M 1.95% | 1.22M | 0.00 | 0.00 |
BLACKROCK MUNIVEST FUNDSOLE | COM | 9.07M | SH | $59.71M 1.93% | 9.07M | 0.00 | 0.00 |
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUNDSOLE | COMMON STOCK | 3.63M | SH | $52.95M 1.71% | 3.63M | 0.00 | 0.00 |
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUNDSOLE | COM | 4.66M | SH | $48.22M 1.55% | 4.66M | 0.00 | 0.00 |
NUVEEN NAS100 DYN OVERWRT FDSOLE | COM SHS | 1.80M | SH | $47.73M 1.54% | 1.80M | 0.00 | 0.00 |
GABELLI DIVD & INCOME TR COMSOLE | COM | 1.79M | SH | $46.51M 1.50% | 1.79M | 0.00 | 0.00 |
SPDR SER TR NUVN BR SHT MUNISOLE | NUVEEN ICE SHORT | 918.50K | SH | $43.93M 1.42% | 918.50K | 0.00 | 0.00 |
BLACKROCK MUNICIPAL INCOME TRUSTSOLE | SH BEN INT | 4.50M | SH | $43.20M 1.39% | 4.50M | 0.00 | 0.00 |
BLACKROCK MUN INC TRUST IISOLE | COM | 4.29M | SH | $43.05M 1.39% | 4.29M | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX USSOLE | ALLWRLD EX US | 639.39K | SH | $42.98M 1.39% | 639.39K | 0.00 | 0.00 |
VANGUARD INDEX FDS TOTAL STK MKTSOLE | TOTAL STK MKT | 138K | SH | $41.94M 1.35% | 138K | 0.00 | 0.00 |
LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00SOLE | ORD SHS | 3.50M | SH | $37.33M 1.20% | 3.50M | 0.00 | 0.00 |
ISHARES TR CORE MSCI EUROSOLE | CORE MSCI EURO | 475.63K | SH | $31.49M 1.02% | 475.63K | 0.00 | 0.00 |
ISHARES LEHMAN 7-10YR TREASSOLE | 7-10 YR TRSY BD | 313.97K | SH | $30.07M 0.97% | 313.97K | 0.00 | 0.00 |
Page 1 of 8
…