KARPAS STRATEGIES, LLC

CIK

1127544

Location

NEW YORK, NY

Portfolio Value

Small $314,507,702

Diversification

Diversified

Filing Date

Global Rank

#3,977 / 7,436 ▼ 47 · as of Jun 2024

Top Industry

Asset Management 16.0%

Period ended 2 years ago

Filed Jul 30, 2024 · 2y

18 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2024, never from the firm's own description.

Style

Diversified active

Top 10 weight 47.4%, 30.8 effective positions, active share 80.1% against the S&P 500 as of 2024-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

6.9% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 15.1 quarters (12+), a floor since 70.8% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2024-06-30, active share 80.1%; sector active share 41.2% against the combined 13F book's sector weights.

Over time 18 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

115 tracked positions · as of Jun 30, 2024 · Δ vs Mar 31, 2024

Top Position

9.5%

+0.2 pts

Top 5

31.7%

−0.3 pts

Top 10

47.4%

−0.6 pts

HHI

325

Diversified−4

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2024

Sector	% Portfolio	Value	Positions
Financial Services	35.2%	$110,754,076	26
Healthcare	14.4%	$45,337,187	12
Energy	13.0%	$40,957,636	13
Unclassified	6.7%	$21,040,706	11
Technology	6.5%	$20,587,843	6
Communication Services	6.4%	$20,063,068	11
Industrials	5.0%	$15,881,840	10
Utilities	4.9%	$15,400,173	4
Real Estate	4.8%	$15,115,998	9
Consumer Defensive	1.3%	$4,117,930	5
Consumer Cyclical	1.1%	$3,426,463	7
Basic Materials	0.6%	$1,824,782	1

Last Quarter's Activity

Export CSV

Jun 30, 2024 vs Mar 31, 2024

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
DUHP	Dimensional US High Profitability ETF	+28,001	98,381	$3,147,208
NLY	Annaly Capital Management Inc	+17,897	188,133	$3,585,814
BN	BROOKFIELD Corp	+14,140	717,839	$29,818,996
NVDA	Nvidia Corp	+7,065	7,850	$969,789
DFUV	Dimensional U.S. Marketwide Value ETF	+2,949	8,324	$326,883
DFAS	Dimensional U.S. Small Cap ETF	+2,672	17,702	$1,063,536
BXMT	Blackstone Mortgage Trust, Inc.	+2,423	81,280	$1,415,897
BXSL	Blackstone Secured Lending Fund	+2,267	99,713	$3,053,212
MPLX	Mplx LP	+1,982	176,557	$7,519,562
DFUS	Dimensional U.S. Equity Market ETF	+1,256	6,197	$364,693
BAM	Brookfield Asset Management Ltd.	+1,025	264,538	$10,065,670
OKE	Oneok Inc	+468	194,324	$15,847,122
BGY	BlackRock Enhanced International Dividend Trust	+287	15,645	$87,299
WPC	W. P. Carey Inc.	+247	67,271	$3,703,268
AXP	American Express Co	+191	7,600	$1,759,780
CVX	Chevron Corp	+167	14,896	$2,330,032
AB	Alliancebernstein Holding L.P.	+153	18,670	$630,859
DFAI	Dimensional International Core Equity Market ETF	+108	10,250	$304,117
CVS	CVS HEALTH Corp	+83	14,714	$869,008
MRK	Merck & Co., Inc.	+70	133,008	$16,466,390
NEE	Nextera Energy Inc	+50	20,647	$1,462,014
WMT	Walmart Inc.	+42	8,166	$552,919
USB	US Bancorp De	+36	55,973	$2,222,128
JPM	Jpmorgan Chase & Co	+36	18,705	$3,783,273
OGN	Organon & Co.	+30	14,412	$298,328
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
C	Citigroup Inc	−6,402	48,334	$3,067,275
WFC	Wells Fargo & Company	−3,865	62,605	$3,718,110
LUMN	Lumen Technologies, Inc.	−3,769	1,368,478	$1,505,325
CMCSA	Comcast Corp	−3,392	116,638	$4,567,540
BEP	Brookfield Renewable Partners L.P.	−2,300	216,760	$5,369,145
JEF	Jefferies Financial Group Inc.	−1,522	111,775	$5,561,924
LBTYK	Liberty Global Ltd.	−1,466	339,339	$6,057,201
ENB	Enbridge Inc	−1,200	72,070	$2,564,971
T	At&T Inc.	−886	49,327	$942,638
KMI	Kinder Morgan, Inc.	−875	118,054	$2,345,732
BIP	Brookfield Infrastructure Partners L.P.	−750	297,083	$8,151,957
JNJ	Johnson & Johnson	−726	130,223	$19,033,393
VTS	Vitesse Energy, Inc.	−451	11,227	$266,079
MSFT	Microsoft Corp	−326	13,654	$6,102,655
CMPR	CIMPRESS plc	−315	82,056	$7,188,926
FISV	Fiserv Inc	−240	45,035	$6,712,016
WH	Wyndham Hotels & Resorts, Inc.	−203	7,251	$536,574
HHH	Howard Hughes Holdings Inc.	−187	32,033	$2,076,379
—		−160	17,823	$5,448,491
TNL	Travel & Leisure Co.	−156	7,063	$317,693
PG	PROCTER & GAMBLE Co	−133	6,258	$1,032,069
RYN	Rayonier Inc	−131	78,546	$2,284,903
EGP	Eastgroup Properties Inc	−125	6,225	$1,058,872
AAPL	Apple Inc.	−105	15,682	$3,302,942
DVN	Devon Energy Corp	−103	6,915	$327,771
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
JQUA	JPMorgan U.S. Quality Factor ETF	39,569	$2,095,178
DFSV	Dimensional US Small Cap Value ETF	29,415	$846,563
GEV	GE Vernova Inc.	2,490	$427,059
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

115 tracked positions · $314,507,702 total · filing declares 117 positions · $318,832,541 · as of Jun 30, 2024

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 115 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
BN	BROOKFIELD Corp Financial Services	Added	717,839	+14,140	$29,818,996	+1.2%	7	unpriced	9.48%
JNJ	Johnson & Johnson Healthcare	Reduced	130,223	-726	$19,033,393	−8.1%	18+	before history	6.05%
SCHW	Schwab Charles Corp Financial Services	Reduced	251,003	-99	$18,496,411	+1.8%	18+	before history	5.88%
MRK	Merck & Co., Inc. Healthcare	Added	133,008	+70	$16,466,390	−6.1%	18+	before history	5.24%
OKE	Oneok Inc Energy	Added	194,324	+468	$15,847,122	+2.0%	18+	before history	5.04%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	25,051	-90	$10,190,746	−3.6%	18+	before history	3.24%
BAM	Brookfield Asset Management Ltd. Financial Services	Added	264,538	+1,025	$10,065,670	−9.1%	7	$30.20	3.20%
TXN	Texas Instruments Inc Technology	Held	47,666	0	$9,272,466	+11.7%	18+	before history	2.95%
BIP	Brookfield Infrastructure Partners L.P. Utilities	Reduced	297,083	-750	$8,151,957	−12.3%	18+	before history	2.59%
MPLX	Mplx LP Energy	Added	176,557	+1,982	$7,519,562	+3.6%	18+	before history	2.39%
CMPR	CIMPRESS plc Industrials	Reduced	82,056	-315	$7,188,926	−1.4%	14	$87.84	2.29%
FISV	Fiserv Inc	Reduced	45,035	-240	$6,712,016	−7.2%	12	$108.68	2.13%
MSFT	Microsoft Corp Technology	Reduced	13,654	-326	$6,102,655	+3.8%	18+	before history	1.94%
LBTYK	Liberty Global Ltd. Communication Services	Reduced	339,339	-1,466	$6,057,201	+0.8%	3	unpriced	1.93%
JEF	Jefferies Financial Group Inc. Financial Services	Reduced	111,775	-1,522	$5,561,924	+11.3%	18+	before history	1.77%
		Reduced	17,823	-160	$5,448,491	−2.5%	18+	before history	1.73%
BEP	Brookfield Renewable Partners L.P. Utilities	Reduced	216,760	-2,300	$5,369,145	+5.5%	18+	before history	1.71%
DIS	Walt Disney Co Communication Services	Held	50,512	0	$5,015,336	−18.9%	18+	before history	1.59%
CMCSA	Comcast Corp Communication Services	Reduced	116,638	-3,392	$4,567,540	−12.2%	18+	before history	1.45%
BRK-A	Berkshire Hathaway Inc Financial Services	Held	7	0	$4,285,687	−3.5%	18+	before history	1.36%
XOM	ExxonMobil Holdings Corp Energy	Added	37,202	+29	$4,282,694	−0.9%	18+	before history	1.36%
JPM	Jpmorgan Chase & Co Financial Services	Added	18,705	+36	$3,783,273	+1.2%	18+	before history	1.20%
WFC	Wells Fargo & Company Financial Services	Reduced	62,605	-3,865	$3,718,110	−3.5%	18+	before history	1.18%
WPC	W. P. Carey Inc. Real Estate	Added	67,271	+247	$3,703,268	−2.1%	18+	before history	1.18%
NLY	Annaly Capital Management Inc Real Estate	Added	188,133	+17,897	$3,585,814	+7.0%	18+	before history	1.14%
PFE	Pfizer Inc Healthcare	Added	127,003	+4	$3,553,543	+0.8%	18+	before history	1.13%
CB	Chubb Ltd Financial Services	Held	13,015	0	$3,319,866	−1.6%	18+	before history	1.06%
AAPL	Apple Inc. Technology	Reduced	15,682	-105	$3,302,942	+22.0%	18+	before history	1.05%
DUHP	Dimensional US High Profitability ETF	Added	98,381	+28,001	$3,147,208	+41.5%	3	$28.61	1.00%
C	Citigroup Inc Financial Services	Reduced	48,334	-6,402	$3,067,275	−11.4%	18+	before history	0.98%
BXSL	Blackstone Secured Lending Fund Financial Services	Added	99,713	+2,267	$3,053,212	+0.6%	7	$23.63	0.97%
APO	Apollo Global Management, Inc. Financial Services	Held	25,000	0	$2,951,750	+5.0%	11	$72.14	0.94%
COP	Conocophillips Energy	Held	23,680	0	$2,708,518	−10.1%	18+	before history	0.86%
ENB	Enbridge Inc Energy	Reduced	72,070	-1,200	$2,564,971	−3.2%	18+	before history	0.82%
KMI	Kinder Morgan, Inc. Energy	Reduced	118,054	-875	$2,345,732	+7.5%	18+	before history	0.75%
CVX	Chevron Corp Energy	Added	14,896	+167	$2,330,032	+0.3%	18+	before history	0.74%
RYN	Rayonier Inc Real Estate	Reduced	78,546	-131	$2,284,903	−12.6%	18+	before history	0.73%
USB	US Bancorp De Financial Services	Added	55,973	+36	$2,222,128	−11.1%	18+	before history	0.71%
JQUA	JPMorgan U.S. Quality Factor ETF	NEW	39,569	NEW	$2,095,178	NEW	1	$51.76	0.67%
HHH	Howard Hughes Holdings Inc. Real Estate	Reduced	32,033	-187	$2,076,379	−11.3%	4	unpriced	0.66%
WM	Waste Management Inc Industrials	Added	8,804	+20	$1,878,245	+0.3%	18+	before history	0.60%
MLM	Martin Marietta Materials Inc Basic Materials	Added	3,368	+2	$1,824,782	−11.7%	18+	before history	0.58%
AXP	American Express Co Financial Services	Added	7,600	+191	$1,759,780	+4.3%	18+	before history	0.56%
KO	Coca Cola Co Consumer Defensive	Added	25,650	+2	$1,632,622	+4.0%	18+	before history	0.52%
GE	General Electric Co Industrials	Added	9,990	+3	$1,588,110	−9.4%	18+	before history	0.50%
LUMN	Lumen Technologies, Inc. Communication Services	Reduced	1,368,478	-3,769	$1,505,325	−29.7%	14	$6.68	0.48%
NEE	Nextera Energy Inc Utilities	Added	20,647	+50	$1,462,014	+11.1%	18+	before history	0.46%
DE	Deere & Co Industrials	Reduced	3,871	-98	$1,446,321	−11.3%	17	$281.76	0.46%
BXMT	Blackstone Mortgage Trust, Inc. Real Estate	Added	81,280	+2,423	$1,415,897	−9.8%	18+	before history	0.45%
BMY	Bristol Myers Squibb Co Healthcare	Added	33,259	+17	$1,381,246	−23.4%	18+	before history	0.44%

Showing the top 50 of 115 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

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.