Filed: 5/14/2026ACC: 0001072613-26-000439
📋 What this filing means
KARPUS MANAGEMENT, INC. filed this quarterly 13F‑HR report disclosing 231 equity positions with a total reported market value of $3.21B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
231
Positions
$3.21B
Total AUM (reported)
206.46M
Total Shares
Allocation by class
COM$847.90M26.5%
S&P 500 ETF SHS$234.76M7.3%
ORD SHS CL A$171.67M5.4%
SHS CL A$138.12M4.3%
LONG TERM BOND$135.52M4.2%
ORD SHS$119.63M3.7%
COM SHS BEN IN$106.45M3.3%
Portfolio Concentration
Top 3$596.26M18.6%
4–10$541.15M16.9%
11–25$593.14M18.5%
Rest$1.47B46.0%
Top 3 weight
18.6%
Top 10 weight
35.5%
Voting Authority Distribution
Total shares with voting rights: 206.46M
Sole
Full voting authority
206.46M
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)
Sole231
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings231
Rows:
VANGUARD INDEX FDS S&P 500 ETF SH
SOLEShares392.87K
TypeSH
Market value$234.76M
7.32%
Sole
392.87K
Shared
0.00
None
0.00
BLACKROCK MUNIHOLDINGS FUND INC
SOLEShares20.03M
TypeSH
Market value$225.98M
7.05%
Sole
20.03M
Shared
0.00
None
0.00
VANGUARD BD INDEX FD INC LONG TERM BOND
SOLEShares1.97M
TypeSH
Market value$135.52M
4.23%
Sole
1.97M
Shared
0.00
None
0.00
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST
SOLEShares4.69M
TypeSH
Market value$106.45M
3.32%
Sole
4.69M
Shared
0.00
None
0.00
VANGUARD INDEX FDS SMALL CP ETF
SOLEShares321.68K
TypeSH
Market value$84.26M
2.63%
Sole
321.68K
Shared
0.00
None
0.00
BLACKROCK MUNIYIELD NEW YORK QUALITY FUND INC
SOLEShares8.16M
TypeSH
Market value$78.33M
2.44%
Sole
8.16M
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US
SOLEShares976.72K
TypeSH
Market value$73.35M
2.29%
Sole
976.72K
Shared
0.00
None
0.00
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF
SOLEShares1.32M
TypeSH
Market value$71.43M
2.23%
Sole
1.32M
Shared
0.00
None
0.00
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT
SOLEShares8.35M
TypeSH
Market value$67.44M
2.10%
Sole
8.35M
Shared
0.00
None
0.00
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST
SOLEShares4.70M
TypeSH
Market value$59.90M
1.87%
Sole
4.70M
Shared
0.00
None
0.00
BlackRock MuniYield Quality Fund III
SOLEShares5.68M
TypeSH
Market value$59.66M
1.86%
Sole
5.68M
Shared
0.00
None
0.00
ISHARES CORE S&P500 ETF
SOLEShares90.79K
TypeSH
Market value$59.30M
1.85%
Sole
90.79K
Shared
0.00
None
0.00
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND
SOLEShares5.38M
TypeSH
Market value$55.95M
1.75%
Sole
5.38M
Shared
0.00
None
0.00
VANGUARD CORE TAX-EXEMPT BOND ETF
SOLEShares590.06K
TypeSH
Market value$44.34M
1.38%
Sole
590.06K
Shared
0.00
None
0.00
NUVEEN NAS100 DYN OVERWRT FD
SOLEShares1.64M
TypeSH
Market value$43.66M
1.36%
Sole
1.64M
Shared
0.00
None
0.00
GABELLI DIVD & INCOME TR COM
SOLEShares1.50M
TypeSH
Market value$40.39M
1.26%
Sole
1.50M
Shared
0.00
None
0.00
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND
SOLEShares3.07M
TypeSH
Market value$39.50M
1.23%
Sole
3.07M
Shared
0.00
None
0.00
VANGUARD FTSE PACIFIC ETF
SOLEShares367.82K
TypeSH
Market value$35.95M
1.12%
Sole
367.82K
Shared
0.00
None
0.00
ISHARES TR CORE MSCI EURO
SOLEShares492.54K
TypeSH
Market value$34.61M
1.08%
Sole
492.54K
Shared
0.00
None
0.00
CALAMOS STRAT TOT RETURN FD
SOLEShares1.94M
TypeSH
Market value$33.29M
1.04%
Sole
1.94M
Shared
0.00
None
0.00
ISHARES RUSSELL 1000 ETF
SOLEShares85.10K
TypeSH
Market value$30.34M
0.95%
Sole
85.10K
Shared
0.00
None
0.00
SC ACQ CRP II; TNT ACQ DT: 5/25/2027; CASH: $10.00
SOLEShares3.03M
TypeSH
Market value$30.17M
0.94%
Sole
3.03M
Shared
0.00
None
0.00
DWS MUNICIPAL INCOME TRUST
SOLEShares3.29M
TypeSH
Market value$29.95M
0.93%
Sole
3.29M
Shared
0.00
None
0.00
BLACKROCK MUNIYIELD QUALITY
SOLEShares2.62M
TypeSH
Market value$28.73M
0.90%
Sole
2.62M
Shared
0.00
None
0.00
ALLIANCE NATIONAL MUNICIPAL INCOME FUND
SOLEShares2.55M
TypeSH
Market value$27.29M
0.85%
Sole
2.55M
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 | 392.87K | SH | $234.76M 7.32% | 392.87K | 0.00 | 0.00 |
BLACKROCK MUNIHOLDINGS FUND INCSOLE | COM | 20.03M | SH | $225.98M 7.05% | 20.03M | 0.00 | 0.00 |
VANGUARD BD INDEX FD INC LONG TERM BONDSOLE | LONG TERM BOND | 1.97M | SH | $135.52M 4.23% | 1.97M | 0.00 | 0.00 |
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUSTSOLE | COM SHS BEN IN | 4.69M | SH | $106.45M 3.32% | 4.69M | 0.00 | 0.00 |
VANGUARD INDEX FDS SMALL CP ETFSOLE | SMALL CP ETF | 321.68K | SH | $84.26M 2.63% | 321.68K | 0.00 | 0.00 |
BLACKROCK MUNIYIELD NEW YORK QUALITY FUND INCSOLE | COM | 8.16M | SH | $78.33M 2.44% | 8.16M | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX USSOLE | ALLWRLD EX US | 976.72K | SH | $73.35M 2.29% | 976.72K | 0.00 | 0.00 |
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETFSOLE | FTSE EMR MKT ETF | 1.32M | SH | $71.43M 2.23% | 1.32M | 0.00 | 0.00 |
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INTSOLE | COM SH BEN INT | 8.35M | SH | $67.44M 2.10% | 8.35M | 0.00 | 0.00 |
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUSTSOLE | COM BEN INT | 4.70M | SH | $59.90M 1.87% | 4.70M | 0.00 | 0.00 |
BlackRock MuniYield Quality Fund IIISOLE | COM | 5.68M | SH | $59.66M 1.86% | 5.68M | 0.00 | 0.00 |
ISHARES CORE S&P500 ETFSOLE | CORE S&P500 ETF | 90.79K | SH | $59.30M 1.85% | 90.79K | 0.00 | 0.00 |
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUNDSOLE | COM | 5.38M | SH | $55.95M 1.75% | 5.38M | 0.00 | 0.00 |
VANGUARD CORE TAX-EXEMPT BOND ETFSOLE | CORE TAX EXEMPT | 590.06K | SH | $44.34M 1.38% | 590.06K | 0.00 | 0.00 |
NUVEEN NAS100 DYN OVERWRT FDSOLE | COM SHS | 1.64M | SH | $43.66M 1.36% | 1.64M | 0.00 | 0.00 |
GABELLI DIVD & INCOME TR COMSOLE | COM | 1.50M | SH | $40.39M 1.26% | 1.50M | 0.00 | 0.00 |
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUNDSOLE | COMMON STOCK | 3.07M | SH | $39.50M 1.23% | 3.07M | 0.00 | 0.00 |
VANGUARD FTSE PACIFIC ETFSOLE | FTSE PACIFIC ETF | 367.82K | SH | $35.95M 1.12% | 367.82K | 0.00 | 0.00 |
ISHARES TR CORE MSCI EUROSOLE | CORE MSCI EURO | 492.54K | SH | $34.61M 1.08% | 492.54K | 0.00 | 0.00 |
CALAMOS STRAT TOT RETURN FDSOLE | COM SH BEN INT | 1.94M | SH | $33.29M 1.04% | 1.94M | 0.00 | 0.00 |
ISHARES RUSSELL 1000 ETFSOLE | RUS 1000 ETF | 85.10K | SH | $30.34M 0.95% | 85.10K | 0.00 | 0.00 |
SC ACQ CRP II; TNT ACQ DT: 5/25/2027; CASH: $10.00SOLE | ORD SHS CLASS A | 3.03M | SH | $30.17M 0.94% | 3.03M | 0.00 | 0.00 |
DWS MUNICIPAL INCOME TRUSTSOLE | COM | 3.29M | SH | $29.95M 0.93% | 3.29M | 0.00 | 0.00 |
BLACKROCK MUNIYIELD QUALITYSOLE | COM | 2.62M | SH | $28.73M 0.90% | 2.62M | 0.00 | 0.00 |
ALLIANCE NATIONAL MUNICIPAL INCOME FUNDSOLE | COM | 2.55M | SH | $27.29M 0.85% | 2.55M | 0.00 | 0.00 |
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