Karpus Management, Inc.

CIK

1048703

Location

Pittsford, NY

Portfolio Value

Mid $2,055,198,654

Diversification

Diversified

Filing Date

Global Rank

#1,191 / 8,622 ▲ 153 · as of Mar 2026

Top Industry

Asset Management 63.9%

3Y Alpha vs SPY

-9.6%

Period ended 4 months ago

Filed May 14, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+30.6%

SPY

+67.9%

Annualised alpha

-9.6%

Max drawdown

−12.9%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

178 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

11.0%

+4.8 pts

Top 5

26.2%

+2.6 pts

Top 10

37.8%

+1.9 pts

HHI

254

Diversified+51

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	98.6%	$2,026,346,174	165
Unclassified	0.9%	$19,282,159	5
Consumer Defensive	0.3%	$6,651,800	1
Technology	0.1%	$1,151,529	2
Healthcare	0.1%	$1,093,065	3
Consumer Cyclical	0.0%	$460,446	1
Communication Services	0.0%	$213,481	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
MHD	Blackrock Muniholdings Fund, Inc.	+11,542,843	20,033,393	$225,976,673
MYN	Blackrock Muniyield New York Quality Fund, Inc.	+5,703,576	8,159,423	$78,330,460
MYI	Blackrock Muniyield Quality Fund III, Inc.	+5,300,945	5,676,653	$59,661,623
MQY	Blackrock Muniyield Quality Fund, Inc.	+1,933,082	2,616,894	$28,733,496
DMII	Drugs Made In America Acquisition II Corp.	+1,454,298	2,597,923	$25,901,292
USA	Liberty All Star Equity Fund	+1,286,001	3,116,511	$17,296,636
AFB	Alliancebernstein National Municipal Income Fund	+1,013,420	2,553,118	$27,292,831
MIN	Aberdeen Intermediate Income Fund	+890,186	5,275,910	$13,242,534
GIW	GigCapital8 Corp.	+873,700	963,650	$9,607,590
AIIA	AI Infrastructure Acquisition Corp.	+824,275	2,066,198	$20,723,965
ASG	Liberty All Star Growth Fund Inc.	+703,409	4,220,488	$20,047,318
MKLY	McKinley Acquisition Corp	+676,586	1,903,371	$19,090,811
CSQ	Calamos Strategic Total Return Fund	+598,819	1,944,623	$33,291,945
HAVA	Harvard Ave Acquisition Corp	+526,765	625,915	$6,265,409
GTERA	Globa Terra Acquisition Corp	+513,925	1,470,687	$15,015,714
IAF	Abrdn Australia Equity Fund, Inc.	+459,225	711,187	$8,619,586
VNME	Vendome Acquisition Corp I	+445,300	1,085,053	$10,937,334
LAFA	LaFayette Acquisition Corp.	+434,850	462,440	$4,610,526
CHEC	Chenghe Acquisition III Co.	+392,700	1,188,550	$11,980,584
APAC	StoneBridge Acquisition II Corp	+336,775	433,550	$4,357,177
FIGX	FIGX Capital Acquisition Corp.	+327,183	439,949	$4,443,484
IGI	Western Asset Investment Grade Opportunity Trust Inc.	+273,409	383,342	$6,167,972
CHW	Calamos Global Dynamic Income Fund	+249,531	2,191,419	$15,909,701
PCQ	Pimco California Municipal Income Fund	+224,590	1,778,933	$15,263,245
IIF	Morgan Stanley India Investment Fund, Inc.	+221,988	395,688	$8,143,259
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
EIM	Eaton Vance Municipal Bond Fund	−1,210,332	2,296,254	$22,434,401
LEGT	Legato Merger Corp. III	−1,194,233	2,139,308	$23,510,994
RFAI	RF Acquisition Corp II	−756,300	1,640,733	$17,883,989
BGY	BlackRock Enhanced International Dividend Trust	−563,349	1,949,687	$10,547,806
LKSP	Lake Superior Acquisition Corp	−498,325	1,284,033	$12,904,531
FINS	Angel Oak Financial Strategies Income Term Trust	−453,195	4,697,846	$59,897,536
KTF	Dws Municipal Income Trust	−424,533	3,291,016	$29,948,245
EXG	Eaton Vance Tax-Managed Global Diversified Equity Income Fund	−289,345	1,178,492	$10,205,740
XRPN	Armada Acquisition Corp. II	−288,200	259,300	$2,673,383
STEW	SRH Total Return Fund, Inc.	−245,517	29,393	$502,620
ZTR	Virtus Total Return Fund Inc.	−201,459	475,766	$3,149,570
MACI	Melar Acquisition Corp. I/Cayman	−156,650	988,505	$10,646,198
GDV	Gabelli Dividend & Income Trust	−151,816	1,499,700	$40,386,921
JOF	Japan Smaller Capitalization Fund Inc	−129,961	436,454	$4,757,348
EURK	Eureka Acquisition Corp	−125,350	200,925	$2,278,489
DPG	Duff & Phelps Utility & Infrastructure Fund Inc.	−118,543	533,200	$7,699,408
GPAT	GP-Act III Acquisition Corp.	−101,650	2,230,216	$24,175,541
PMO	Franklin Municipal Opportunities Trust	−97,922	63,644	$655,533
CAF	Morgan Stanley China A Share Fund, Inc.	−83,468	473,263	$8,282,102
NOEM	CO2 Energy Transition Corp.	−50,575	729,671	$7,566,688
MEGI	NYLI CBRE Global Infrastructure Megatrends Term Fund	−49,833	509,109	$7,478,811
CUB	Lionheart Holdings	−44,700	1,031,975	$11,104,051
QQQX	Nuveen NASDAQ 100 Dynamic Overwrite Fund	−33,820	1,636,959	$43,657,696
LPAA	Launch One Acquisition Corp.	−30,550	1,085,250	$11,623,027
ETG	Eaton Vance Tax-Advantaged Global Dividend Income Fund	−29,902	387,327	$7,793,019
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
SCII	SC II Acquisition Corp.	3,026,479	$30,173,995
WPAC	White Pearl Acquisition Corp.	1,602,595	$15,801,586
SSAC	SPACSphere Acquisition Corp.	1,217,210	$12,050,379
APXT	Apex Treasury Corp	1,163,557	$11,565,756
GIX	GigCapital9 Corp.	815,332	$8,014,713
BPAC	Blueport Acquisition Ltd	716,625	$7,173,416
HEQ	John Hancock Diversified Income Fund	518,501	$5,630,920
WENN	WEN Acquisition Corp	519,000	$5,283,420
LWAC	LightWave Acquisition Corp.	516,600	$5,269,320
PNI	Pimco New York Municipal Income Fund II	735,635	$5,039,099
DNMX	Dynamix Corp III	501,550	$4,975,376
UTF	Cohen & Steers Infrastructure Fund Inc	169,477	$4,386,064
AIO	Virtus Artificial Intelligence & Technology Opportunities Fund	193,632	$4,145,661
KOYN	CSLM Digital Asset Acquisition Corp III, Ltd	410,000	$4,116,400
TWLV	Twelve Seas Investment Co III/Cayman	277,715	$2,741,047
ITHA	ITHAX Acquisition Corp III	264,154	$2,615,124
EOS	Eaton Vance Enhanced Equity Income Fund II	110,532	$2,261,484
XFLH	XFLH Capital Corp	224,850	$2,219,269
GLO	Clough Global Opportunities Fund	377,188	$2,100,937
HVMC	Highview Merger Corp.	197,200	$1,981,860
TDWD	Tailwind 2.0 Acquisition Corp.	177,086	$1,756,693
BMEZ	BlackRock Health Sciences Term Trust	117,675	$1,689,813
ZKP	Lafayette Digital Acquisition Corp. I	127,757	$1,259,684
BTZ	Blackrock Credit Allocation Income Trust	121,250	$1,224,625
VBF	Invesco Bond Fund	72,031	$1,080,465
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
NRK	Nuveen New York Amt-Free Quality Municipal Income Fund	3,536,744	$35,685,746
KVAC	Keen Vision Acquisition Corp.	1,224,460	$14,387,405
NFJ	Virtus Dividend, Interest & Premium Strategy Fund	413,044	$5,324,137
PELI	Pelican Acquisition Corp	344,025	$3,492,197
CAPN	Cayson Acquisition Corp	284,189	$3,023,770
FTW	PRESIDIO PRODUCTION Co	65,800	$690,242
PAYX	Paychex Inc	3,290	$369,072
COLA	Columbus Acquisition Corp/Cayman Islands	30,399	$315,784
AEF	abrdn Emerging Markets ex-China Fund, Inc.	40,947	$286,629
BCAR	D. Boral ARC Acquisition I Corp.	10,500	$105,315
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

178 tracked positions · $2,055,198,654 total · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Financial Services Healthcare Technology

Showing 1–50 of 178 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
MHD	Blackrock Muniholdings Fund, Inc. Financial Services	Added	20,033,393	+11,542,843	$225,976,673	+126.7%	11.00%
BTT	BlackRock Municipal 2030 Target Term Trust Financial Services	Added	4,689,313	+70,588	$106,447,405	+1.0%	5.18%
MYN	Blackrock Muniyield New York Quality Fund, Inc. Financial Services	Added	8,159,423	+5,703,576	$78,330,460	+221.9%	3.81%
WIA	Western Asset Inflation-Linked Income Fund Financial Services	Added	8,346,410	+202,814	$67,438,992	+0.1%	3.28%
FINS	Angel Oak Financial Strategies Income Term Trust Financial Services	Reduced	4,697,846	-453,195	$59,897,536	−12.0%	2.91%
MYI	Blackrock Muniyield Quality Fund III, Inc. Financial Services	Added	5,676,653	+5,300,945	$59,661,623	+1360.9%	2.90%
MUC	Blackrock Muniholdings California Quality Fund, Inc. Financial Services	Reduced	5,379,853	-9,656	$55,950,471	−2.1%	2.72%
QQQX	Nuveen NASDAQ 100 Dynamic Overwrite Fund Financial Services	Reduced	1,636,959	-33,820	$43,657,696	−8.4%	2.12%
GDV	Gabelli Dividend & Income Trust Financial Services	Reduced	1,499,700	-151,816	$40,386,921	−11.9%	1.97%
NBXG	Neuberger Next Generation Connectivity Fund Inc. Financial Services	Reduced	3,069,100	-6,744	$39,499,317	−11.1%	1.92%
CSQ	Calamos Strategic Total Return Fund Financial Services	Added	1,944,623	+598,819	$33,291,945	+28.8%	1.62%
SCII	SC II Acquisition Corp. Financial Services	NEW	3,026,479	NEW	$30,173,995	NEW	1.47%
KTF	Dws Municipal Income Trust Financial Services	Reduced	3,291,016	-424,533	$29,948,245	−11.3%	1.46%
MQY	Blackrock Muniyield Quality Fund, Inc. Financial Services	Added	2,616,894	+1,933,082	$28,733,496	+271.9%	1.40%
AFB	Alliancebernstein National Municipal Income Fund Financial Services	Added	2,553,118	+1,013,420	$27,292,831	+63.8%	1.33%
DMAA	Drugs Made In America Acquisition Corp. Financial Services	Reduced	2,530,517	-8,125	$26,519,818	+0.7%	1.29%
DMII	Drugs Made In America Acquisition II Corp. Financial Services	Added	2,597,923	+1,454,298	$25,901,292	+128.8%	1.26%
GPAT	GP-Act III Acquisition Corp. Financial Services	Reduced	2,230,216	-101,650	$24,175,541	−3.0%	1.18%
LEGT	Legato Merger Corp. III Financial Services	Reduced	2,139,308	-1,194,233	$23,510,994	−35.2%	1.14%
QSEA	Quartzsea Acquisition Corp Financial Services	Reduced	2,256,805	-7,075	$23,403,067	+1.1%	1.14%
TAVI	Tavia Acquisition Corp. Financial Services	Reduced	2,177,202	-16,500	$22,991,253	+0.5%	1.12%
EIM	Eaton Vance Municipal Bond Fund Financial Services	Reduced	2,296,254	-1,210,332	$22,434,401	−34.2%	1.09%
AIIA	AI Infrastructure Acquisition Corp. Financial Services	Added	2,066,198	+824,275	$20,723,965	+67.9%	1.01%
BST	BlackRock Science & Technology Trust Financial Services	Added	562,909	+19,362	$20,461,742	−7.1%	1.00%
ASG	Liberty All Star Growth Fund Inc. Financial Services	Added	4,220,488	+703,409	$20,047,318	+7.5%	0.98%
BKT	Blackrock Income Trust, Inc. Financial Services	Reduced	1,851,052	-10,608	$19,565,619	−4.8%	0.95%
MKLY	McKinley Acquisition Corp Financial Services	Added	1,903,371	+676,586	$19,090,811	+56.1%	0.93%
ANSC	Agriculture & Natural Solutions Acquisition Corp Financial Services	Reduced	1,662,443	-23,450	$18,768,981	−0.5%	0.91%
SIMA	SIM Acquisition Corp. I Financial Services	Reduced	1,725,032	-10,465	$18,492,343	+0.6%	0.90%
RFAI	RF Acquisition Corp II Financial Services	Reduced	1,640,733	-756,300	$17,883,989	−30.6%	0.87%
USA	Liberty All Star Equity Fund Financial Services	Added	3,116,511	+1,286,001	$17,296,636	+50.5%	0.84%
BHK	Blackrock Core Bond Trust Financial Services	Reduced	1,879,578	-3,787	$17,216,934	−4.7%	0.84%
ETO	Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund Financial Services	Added	645,796	+33,068	$17,210,463	−7.5%	0.84%
CHW	Calamos Global Dynamic Income Fund Financial Services	Added	2,191,419	+249,531	$15,909,701	+10.6%	0.77%
WPAC	White Pearl Acquisition Corp. Financial Services	NEW	1,602,595	NEW	$15,801,586	NEW	0.77%
COPL	Copley Acquisition Corp Financial Services	Reduced	1,526,827	-8,176	$15,756,854	−0.0%	0.77%
PCQ	Pimco California Municipal Income Fund Financial Services	Added	1,778,933	+224,590	$15,263,245	+12.5%	0.74%
GTERA	Globa Terra Acquisition Corp Financial Services	Added	1,470,687	+513,925	$15,015,714	+55.4%	0.73%
CHAR	Charlton Aria Acquisition Corp Financial Services	Reduced	1,418,110	-5,857	$15,003,603	+0.8%	0.73%
ETW	Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund Financial Services	Reduced	1,625,403	-9,611	$14,271,038	−5.3%	0.69%
KFII	K&F Growth Acquisition Corp. II Financial Services	Reduced	1,317,137	-11,250	$13,737,738	+0.0%	0.67%
BOE	BlackRock Enhanced Global Dividend Trust Financial Services	Reduced	1,211,742	-11,038	$13,280,692	−7.2%	0.65%
MIN	Aberdeen Intermediate Income Fund Financial Services	Added	5,275,910	+890,186	$13,242,534	+15.7%	0.64%
LKSP	Lake Superior Acquisition Corp Financial Services	Reduced	1,284,033	-498,325	$12,904,531	−27.0%	0.63%
SSAC	SPACSphere Acquisition Corp. Financial Services	NEW	1,217,210	NEW	$12,050,379	NEW	0.59%
CHEC	Chenghe Acquisition III Co. Financial Services	Added	1,188,550	+392,700	$11,980,584	+51.0%	0.58%
LPAA	Launch One Acquisition Corp. Financial Services	Reduced	1,085,250	-30,550	$11,623,027	−1.6%	0.57%
APXT	Apex Treasury Corp Financial Services	NEW	1,163,557	NEW	$11,565,756	NEW	0.56%
CUB	Lionheart Holdings Financial Services	Reduced	1,031,975	-44,700	$11,104,051	−3.0%	0.54%
VNME	Vendome Acquisition Corp I Financial Services	Added	1,085,053	+445,300	$10,937,334	+70.5%	0.53%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.