Karpus Management, Inc.

CIK

1048703

Location

Pittsford, NY

Portfolio Value

Mid $2,394,663,610

Diversification

Diversified

Filing Date

Global Rank

#1,204 / 8,700 ▼ 88

Top Industry

Asset Management 65.6%

3Y Alpha vs SPY

-11.0%

Period ended 2 months ago

Filed Aug 14, 2026 · 29d

26 quarters · since Mar 2020

Clone Performance

Sep 2023–Sep 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

+26.7%

SPY

+71.4%

Annualised alpha

-11.5%

Max drawdown

−11.5%

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. Returns use comparable raw closes and exclude dividends. Returns are unavailable when a held security or benchmark crosses a captured split without a certified price basis; the requested window is not shortened to hide it. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

193 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

9.8%

−1.6 pts

Top 5

24.9%

−13.5 pts

Top 10

37.0%

−13.6 pts

HHI

232

Diversified−145

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	89.9%	$2,151,621,453	179
Unclassified	10.0%	$239,854,751	7
Healthcare	0.1%	$1,326,075	3
Technology	0.0%	$1,154,386	2
Consumer Cyclical	0.0%	$493,752	1
Communication Services	0.0%	$213,193	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AFB	Alliancebernstein National Municipal Income Fund	+1,050,144	3,603,262	$41,113,219
FIGX	FIGX Capital Acquisition Corp.	+723,375	1,163,324	$11,900,804
ORIQ	Origin Investment Corp I	+410,800	1,286,528	$13,264,103
HEQ	John Hancock Diversified Income Fund	+391,119	909,620	$10,442,437
BGY	BlackRock Enhanced International Dividend Trust	+378,256	2,327,943	$13,362,392
PNI	Pimco New York Municipal Income Fund II	+377,694	1,113,329	$7,893,502
ASG	Liberty All Star Growth Fund Inc.	+328,182	4,548,670	$24,881,224
JHS	John Hancock Income Securities Trust	+313,463	846,161	$9,333,155
WIA	Western Asset Inflation-Linked Income Fund	+302,388	8,648,798	$70,314,727
CHW	Calamos Global Dynamic Income Fund	+269,121	2,460,540	$21,923,411
PCQ	Pimco California Municipal Income Fund	+252,546	2,031,479	$18,222,366
XFLH	XFLH Capital Corp	+223,900	448,750	$4,474,037
DMII	Drugs Made In America Acquisition II Corp.	+190,075	2,787,998	$28,047,259
HAVA	Harvard Ave Acquisition Corp	+188,178	814,093	$8,222,339
VNME	Vendome Acquisition Corp I	+162,850	1,247,903	$12,716,131
USA	Liberty All Star Equity Fund	+155,356	3,271,867	$19,009,547
MEGI	NYLI CBRE Global Infrastructure Megatrends Term Fund	+147,858	656,967	$9,985,898
HVMC	Highview Merger Corp.	+147,450	344,650	$3,501,644
OYSE	Oyster Enterprises II Acquisition Corp	+145,935	803,996	$8,273,118
IGI	Western Asset Investment Grade Opportunity Trust Inc.	+145,661	529,003	$8,522,238
AIO	Virtus Artificial Intelligence & Technology Opportunities Fund	+130,659	324,291	$9,102,848
IAF	Abrdn Australia Equity Fund, Inc.	+111,740	822,927	$10,187,836
MGF	Aberdeen Government Markets Income Fund	+111,340	1,855,499	$5,325,282
CSQ	Calamos Strategic Total Return Fund	+107,581	2,052,204	$42,193,314
EOS	Eaton Vance Enhanced Equity Income Fund II	+100,705	211,237	$4,655,663
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
VEU	Vanguard FTSE All-World Ex-US ETF	−2,044,915	911,846	$76,367,102
QSEA	Quartzsea Acquisition Corp	−1,282,040	974,765	$10,254,527
MUC	Blackrock Muniholdings California Quality Fund, Inc.	−776,322	4,603,531	$50,592,805
PLMK	Plum Acquisition Corp, IV	−650,450	11,750	$125,255
EIM	Eaton Vance Municipal Bond Fund	−636,254	1,660,000	$16,533,600
KTF	Dws Municipal Income Trust	−530,059	2,760,957	$25,400,804
VB	Vanguard Morningstar Small-Cap ETF	−509,476	319,556	$96,863,814
GF	New Germany Fund Inc	−349,894	17,287	$198,109
XRPN	Armada Acquisition Corp. II	−305,175	253,925	$2,645,898
ZTR	Virtus Total Return Fund Inc.	−292,558	183,208	$1,251,310
TAVI	Tavia Acquisition Corp.	−283,575	1,893,627	$20,214,468
QQQX	Nuveen NASDAQ 100 Dynamic Overwrite Fund	−243,109	1,393,850	$42,010,639
MYI	Blackrock Muniyield Quality Fund III, Inc.	−234,550	5,442,103	$60,461,764
MYN	Blackrock Muniyield New York Quality Fund, Inc.	−220,786	7,938,637	$80,577,165
MHD	Blackrock Muniholdings Fund, Inc.	−216,439	19,816,954	$235,821,752
MQY	Blackrock Muniyield Quality Fund, Inc.	−201,986	2,414,908	$28,012,932
NTWO	Newbury Street II Acquisition Corp	−112,281	461,231	$4,907,497
—		−107,000	11,590	$1,062,107
NBXG	Neuberger Next Generation Connectivity Fund Inc.	−87,923	2,981,177	$49,308,667
SCII	SC II Acquisition Corp.	−83,642	2,942,837	$29,516,655
MKLY	McKinley Acquisition Corp	−77,500	1,825,871	$18,532,590
KFII	K&F Growth Acquisition Corp. II	−72,100	1,245,037	$13,135,140
LCCC	Lakeshore Acquisition III Corp.	−71,300	229,575	$2,389,875
NOEM	CO2 Energy Transition Corp.	−58,100	671,571	$7,011,201
AIIA	AI Infrastructure Acquisition Corp.	−57,149	2,009,049	$20,552,571
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AACP	Apogee Acquisition Corp	2,648,075	$26,348,346
VECA	Vernal Capital Acquisition Corp.	1,484,400	$14,754,936
ACGC	ACP Holdings Acquisition Corp.	1,348,625	$13,405,332
BHAV	BHAV Acquisition Corp	1,267,457	$12,585,848
TRAD	APEX Tech Acquisition Inc.	1,171,450	$11,655,927
FMAC	Future Money Acquisition Corp	1,163,950	$11,616,221
GAB	Gabelli Equity Trust Inc	1,973,929	$11,172,438
ARTC	Art Technology Acquisition Corp.	973,200	$9,663,876
PECE	Peace Acquisition Corp.	733,675	$7,278,056
OHAC	Oceanhawk Acquisition Corp.	672,300	$6,655,770
QRED	QuasarEdge Acquisition Corp	553,175	$5,493,027
KTWO	K2 Capital Acquisition Corp	490,700	$4,882,465
WENC	West Enclave Merger Corp.	439,253	$4,357,389
QADR	QDRO Acquisition Corp.	399,050	$3,954,585
SORN	Soren Acquisition Corp.	361,700	$3,588,064
XSLL	Xsolla SPAC 1	320,225	$3,170,227
PAI	Western Asset Investment Grade Income Fund Inc.	206,018	$2,496,938
ARCL	ARC Group Acquisition I Corp.	247,600	$2,446,288
EVAC	EQV Ventures Acquisition Corp. II	200,000	$2,036,000
MCAH	Mountain Crest Acquisition 6 Corp.	167,500	$1,661,600
MYX	Maywood Acquisition Corp. 2	121,422	$1,199,649
PONO	Pono Capital Four, Inc.	109,525	$1,090,869
BREZ	Breeze Acquisition Corp. II	110,000	$1,090,100
CAII	Collective Acquisition Corp. II	81,725	$809,077
BTO	John Hancock Financial Opportunities Fund	9,698	$382,295
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
AAXJ	iShares MSCI All Country Asia ex Japan ETF	2,089,477	$225,138,697
BIV	Vanguard Intermediate-Term Bond ETF	2,379,310	$165,919,906
GPAT	GP-Act III Acquisition Corp.	2,230,216	$24,175,541
STT	State Street Corp	405,787	$20,033,704
BBAG	JPMorgan BetaBuilders U.S. Aggregate Bond ETF	230,737	$15,900,086
LPAAU	Launch One Acquisition Corp.	1,085,250	$11,623,027
CUB	Lionheart Holdings	1,031,975	$11,104,051
BKF	iShares MSCI BIC ETF	253,399	$9,727,987
—		78,755	$8,244,860
FSHP	Flag Ship Acquisition Corp	727,825	$7,955,127
ETG	Eaton Vance Tax-Advantaged Global Dividend Income Fund	387,327	$7,793,019
BACC	Blue Acquisition Corp/Cayman	645,990	$6,595,557
TDAC	Translational Development Acquisition Corp.	603,425	$6,384,236
TWN	Taiwan Fund Inc	75,028	$4,932,340
VFMF	Vanguard U.S. Multifactor ETF	34,950	$3,534,843
RDAC	Rising Dragon Acquisition Corp.	736,550	$3,528,074
EURK	Eureka Acquisition Corp	200,925	$2,278,489
TONT	Graf Global Corp.	192,600	$2,062,746
EDV	Vanguard World Funds Extended Duration ETF	20,880	$1,821,049
BSAA	BEST SPAC I Acquisition Corp.	170,501	$1,749,340
AXIN	Axiom Intelligence Acquisition Corp 1	102,500	$1,038,325
NHIC	NewHold Investment Corp. III	83,900	$870,043
STEW	SRH Total Return Fund, Inc.	29,393	$502,620
AOD	abrdn Total Dynamic Dividend Fund	11,500	$105,915
ENHA	Enhanced Group Inc.	654,061	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

193 tracked positions · $2,394,663,610 total · filing declares 233 positions · $3,476,175,130 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Financial Services Healthcare Technology

Showing 1–50 of 193 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	Reduced	19,816,954	-216,439	$235,821,752	+4.4%	9.85%
BTT	BlackRock Municipal 2030 Target Term Trust Financial Services	Reduced	4,641,247	-48,066	$105,588,369	−0.8%	4.41%
VB	Vanguard Morningstar Small-Cap ETF	Reduced	319,556	-509,476	$96,863,814	−72.1%	4.04%
MYN	Blackrock Muniyield New York Quality Fund, Inc. Financial Services	Reduced	7,938,637	-220,786	$80,577,165	+2.9%	3.36%
VEU	Vanguard FTSE All-World Ex-US ETF	Reduced	911,846	-2,044,915	$76,367,102	−62.7%	3.19%
WIA	Western Asset Inflation-Linked Income Fund Financial Services	Added	8,648,798	+302,388	$70,314,727	+4.3%	2.94%
MYI	Blackrock Muniyield Quality Fund III, Inc. Financial Services	Reduced	5,442,103	-234,550	$60,461,764	+1.3%	2.52%
FINS	Angel Oak Financial Strategies Income Term Trust Financial Services	Reduced	4,654,677	-43,169	$59,579,865	−0.5%	2.49%
MUC	Blackrock Muniholdings California Quality Fund, Inc. Financial Services	Reduced	4,603,531	-776,322	$50,592,805	−9.6%	2.11%
NBXG	Neuberger Next Generation Connectivity Fund Inc. Financial Services	Reduced	2,981,177	-87,923	$49,308,667	+24.8%	2.06%
VCRM	Vanguard Core Tax-Exempt Bond ETF	Reduced	613,630	-3,451	$46,881,332	+2.6%	1.96%
GDV	Gabelli Dividend & Income Trust Financial Services	Reduced	1,444,270	-55,430	$42,461,538	+5.1%	1.77%
CSQ	Calamos Strategic Total Return Fund Financial Services	Added	2,052,204	+107,581	$42,193,314	+26.7%	1.76%
QQQX	Nuveen NASDAQ 100 Dynamic Overwrite Fund Financial Services	Reduced	1,393,850	-243,109	$42,010,639	−3.8%	1.75%
AFB	Alliancebernstein National Municipal Income Fund Financial Services	Added	3,603,262	+1,050,144	$41,113,219	+50.6%	1.72%
BST	BlackRock Science & Technology Trust Financial Services	Added	639,482	+76,573	$32,428,132	+58.5%	1.35%
SCII	SC II Acquisition Corp. Financial Services	Reduced	2,942,837	-83,642	$29,516,655	−2.2%	1.23%
DMII	Drugs Made In America Acquisition II Corp. Financial Services	Added	2,787,998	+190,075	$28,047,259	+8.3%	1.17%
MQY	Blackrock Muniyield Quality Fund, Inc. Financial Services	Reduced	2,414,908	-201,986	$28,012,932	−2.5%	1.17%
DMAA	Drugs Made In America Acquisition Corp. Financial Services	Reduced	2,507,817	-22,700	$26,708,251	+0.7%	1.12%
AACP	Apogee Acquisition Corp Financial Services	NEW	2,648,075	NEW	$26,348,346	NEW	1.10%
KTF	Dws Municipal Income Trust Financial Services	Reduced	2,760,957	-530,059	$25,400,804	−15.2%	1.06%
ASG	Liberty All Star Growth Fund Inc. Financial Services	Added	4,548,670	+328,182	$24,881,224	+24.1%	1.04%
CHW	Calamos Global Dynamic Income Fund Financial Services	Added	2,460,540	+269,121	$21,923,411	+37.8%	0.92%
ETO	Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund Financial Services	Added	699,132	+53,336	$21,582,204	+25.4%	0.90%
AIIA	AI Infrastructure Acquisition Corp. Financial Services	Reduced	2,009,049	-57,149	$20,552,571	−0.8%	0.86%
TAVI	Tavia Acquisition Corp. Financial Services	Reduced	1,893,627	-283,575	$20,214,468	−12.1%	0.84%
BKT	Blackrock Income Trust, Inc. Financial Services	Reduced	1,828,427	-22,625	$19,600,737	+0.2%	0.82%
USA	Liberty All Star Equity Fund Financial Services	Added	3,271,867	+155,356	$19,009,547	+9.9%	0.79%
MKLY	McKinley Acquisition Corp Financial Services	Reduced	1,825,871	-77,500	$18,532,590	−2.9%	0.77%
		Reduced	1,613,968	-48,475	$18,431,514	−1.8%	0.77%
PCQ	Pimco California Municipal Income Fund Financial Services	Added	2,031,479	+252,546	$18,222,366	+19.4%	0.76%
RFAI	RF Acquisition Corp II Financial Services	Reduced	1,619,533	-21,200	$17,863,448	−0.1%	0.75%
BHK	Blackrock Core Bond Trust Financial Services	Reduced	1,858,353	-21,225	$17,041,097	−1.0%	0.71%
EIM	Eaton Vance Municipal Bond Fund Financial Services	Reduced	1,660,000	-636,254	$16,533,600	−26.3%	0.69%
WPAC	White Pearl Acquisition Corp. Financial Services	Added	1,641,020	+38,425	$16,443,020	+4.1%	0.69%
COPL	Copley Acquisition Corp Financial Services	Reduced	1,510,297	-16,530	$15,752,397	−0.0%	0.66%
ETW	Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund Financial Services	Reduced	1,616,305	-9,098	$15,581,180	+9.2%	0.65%
CHAR	Charlton Aria Acquisition Corp Financial Services	Reduced	1,410,653	-7,457	$15,235,052	+1.5%	0.64%
GTERA	Globa Terra Acquisition Corp Financial Services	Reduced	1,461,112	-9,575	$15,064,064	+0.3%	0.63%
VECA	Vernal Capital Acquisition Corp. Financial Services	NEW	1,484,400	NEW	$14,754,936	NEW	0.62%
BOE	BlackRock Enhanced Global Dividend Trust Financial Services	Reduced	1,206,786	-4,956	$14,590,042	+9.9%	0.61%
BSTZ	BlackRock Science & Technology Term Trust Financial Services	Added	483,321	+73,390	$14,514,129	+59.8%	0.61%
ACGC	ACP Holdings Acquisition Corp. Financial Services	NEW	1,348,625	NEW	$13,405,332	NEW	0.56%
BGY	BlackRock Enhanced International Dividend Trust Financial Services	Added	2,327,943	+378,256	$13,362,392	+26.7%	0.56%
ORIQ	Origin Investment Corp I Financial Services	Added	1,286,528	+410,800	$13,264,103	+48.5%	0.55%
MIN	Aberdeen Intermediate Income Fund Financial Services	Added	5,323,675	+47,765	$13,149,477	−0.7%	0.55%
KFII	K&F Growth Acquisition Corp. II Financial Services	Reduced	1,245,037	-72,100	$13,135,140	−4.4%	0.55%
APXT	Apex Treasury Corp Financial Services	Added	1,297,608	+87,851	$13,051,972	+8.5%	0.55%
VNME	Vendome Acquisition Corp I Financial Services	Added	1,247,903	+162,850	$12,716,131	+16.3%	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.