KARPAS STRATEGIES, LLC

CIK

1127544

Location

NEW YORK, NY

Portfolio Value

Small $273,830,003

Diversification

Diversified

Filing Date

Global Rank

#3,122 / 7,306 ▼ 81 · as of Jun 2024

Top Industry

Drug Manufacturers - General 15.8%

3Y Alpha vs SPY

-4.5%

Period ended 2 years ago

Filed Jul 30, 2024 · 1y

18 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+58.8%

SPY

+76.5%

Annualised alpha

-4.2%

Max drawdown

−18.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

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

Top Position

7.3%

−0.1 pts

Top 5

32.8%

+0.0 pts

Top 10

49.3%

−0.1 pts

HHI

331

Diversified−2

Portfolio Trend

18 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2024

Sector	% Portfolio	Value	Positions
Financial Services	35.3%	$96,528,723	25
Healthcare	16.6%	$45,337,187	12
Energy	13.4%	$36,674,942	12
Technology	7.5%	$20,587,843	6
Industrials	5.8%	$15,867,942	10
Utilities	5.6%	$15,400,173	4
Real Estate	5.5%	$15,019,008	9
Communication Services	4.5%	$12,332,994	6
Unclassified	2.5%	$6,712,016	1
Consumer Defensive	1.5%	$4,117,930	5
Consumer Cyclical	1.3%	$3,426,463	7
Basic Materials	0.7%	$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
NLY	Annaly Capital Management Inc	+17,897	188,133	$3,585,814
BN	BROOKFIELD Corp /ON/	+14,140	717,839	$19,879,330
NVDA	Nvidia Corp	+7,065	7,850	$969,789
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
BAM	Brookfield Asset Management Ltd.	+1,025	264,538	$10,065,670
OKE	Oneok Inc /New/	+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
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
BNY	Bank of New York Mellon Corp	+30	22,278	$1,334,229
PEP	Pepsico Inc	+29	3,442	$567,689
WY	Weyerhaeuser Co	+22	17,794	$505,171
WM	Waste Management Inc	+20	8,804	$1,878,245
HON	Honeywell International Inc	+20	5,645	$1,191,535
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/Mn	−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	$4,280,731
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
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
BIPH	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	$1,979,389
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/De	−103	6,915	$327,771
JOE	ST JOE Co	−100	4,850	$265,295
SCHW	Schwab Charles Corp	−99	251,003	$18,496,411
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
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

98 positions · $273,830,003 total · 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 98 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BN	BROOKFIELD Corp /ON/ Financial Services	Added	717,839	+14,140	$19,879,330	+1.2%	7.26%
JNJ	Johnson & Johnson Healthcare	Reduced	130,223	-726	$19,033,393	−8.1%	6.95%
SCHW	Schwab Charles Corp Financial Services	Reduced	251,003	-99	$18,496,411	+1.8%	6.75%
MRK	Merck & Co., Inc. Healthcare	Added	133,008	+70	$16,466,390	−6.1%	6.01%
OKE	Oneok Inc /New/ Energy	Added	194,324	+468	$15,847,122	+2.0%	5.79%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	25,051	-90	$10,190,746	−3.6%	3.72%
BAM	Brookfield Asset Management Ltd. Financial Services	Added	264,538	+1,025	$10,065,670	−9.1%	3.68%
TXN	Texas Instruments Inc Technology	Held	47,666	0	$9,272,466	+11.7%	3.39%
BIPH	Brookfield Infrastructure Partners L.P. Utilities	Reduced	297,083	-750	$8,151,957	−12.3%	2.98%
MPLX	Mplx LP Energy	Added	176,557	+1,982	$7,519,562	+3.6%	2.75%
CMPR	CIMPRESS plc Industrials	Reduced	82,056	-315	$7,188,926	−1.4%	2.63%
FISV	Fiserv Inc	Reduced	45,035	-240	$6,712,016	−7.2%	2.45%
MSFT	Microsoft Corp Technology	Reduced	13,654	-326	$6,102,655	+3.8%	2.23%
JEF	Jefferies Financial Group Inc. Financial Services	Reduced	111,775	-1,522	$5,561,924	+11.3%	2.03%
BEP	Brookfield Renewable Partners L.P. Utilities	Reduced	216,760	-2,300	$5,369,145	+5.5%	1.96%
DIS	Walt Disney Co Communication Services	Held	50,512	0	$5,015,336	−18.9%	1.83%
CMCSA	Comcast Corp Communication Services	Reduced	116,638	-3,392	$4,280,731	−12.2%	1.56%
JPM	Jpmorgan Chase & Co Financial Services	Added	18,705	+36	$3,783,273	+1.2%	1.38%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	62,605	-3,865	$3,718,110	−3.5%	1.36%
WPC	W. P. Carey Inc. Real Estate	Added	67,271	+247	$3,703,268	−2.1%	1.35%
NLY	Annaly Capital Management Inc Real Estate	Added	188,133	+17,897	$3,585,814	+7.0%	1.31%
PFE	Pfizer Inc Healthcare	Added	127,003	+4	$3,553,543	+0.8%	1.30%
CB	Chubb Ltd Financial Services	Held	13,015	0	$3,319,866	−1.6%	1.21%
AAPL	Apple Inc. Technology	Reduced	15,682	-105	$3,302,942	+22.0%	1.21%
C	Citigroup Inc Financial Services	Reduced	48,334	-6,402	$3,067,275	−11.4%	1.12%
BXSL	Blackstone Secured Lending Fund Financial Services	Added	99,713	+2,267	$3,053,212	+0.6%	1.12%
APO	Apollo Global Management, Inc. Financial Services	Held	25,000	0	$2,951,750	+5.0%	1.08%
COP	Conocophillips Energy	Held	23,680	0	$2,708,518	−10.1%	0.99%
ENB	Enbridge Inc Energy	Reduced	72,070	-1,200	$2,564,971	−3.2%	0.94%
KMI	Kinder Morgan, Inc. Energy	Reduced	118,054	-875	$2,345,732	+7.5%	0.86%
CVX	Chevron Corp Energy	Added	14,896	+167	$2,330,032	+0.3%	0.85%
RYN	Rayonier Inc Real Estate	Reduced	78,546	-131	$2,284,903	−12.6%	0.83%
USB	US Bancorp De Financial Services	Added	55,973	+36	$2,222,128	−11.1%	0.81%
HHH	Howard Hughes Holdings Inc. Real Estate	Reduced	32,033	-187	$1,979,389	−11.3%	0.72%
WM	Waste Management Inc Industrials	Added	8,804	+20	$1,878,245	+0.3%	0.69%
MLM	Martin Marietta Materials Inc Basic Materials	Added	3,368	+2	$1,824,782	−11.7%	0.67%
AXP	American Express Co Financial Services	Added	7,600	+191	$1,759,780	+4.3%	0.64%
KO	Coca Cola Co Consumer Defensive	Added	25,650	+2	$1,632,622	+4.0%	0.60%
GE	General Electric Co Industrials	Added	9,990	+3	$1,588,110	+13.5%	0.58%
LUMN	Lumen Technologies, Inc. Communication Services	Reduced	1,368,478	-3,769	$1,505,325	−29.7%	0.55%
NEE	Nextera Energy Inc Utilities	Added	20,647	+50	$1,462,014	+11.1%	0.53%
DE	Deere & Co Industrials	Reduced	3,871	-98	$1,446,321	−11.3%	0.53%
BXMT	Blackstone Mortgage Trust, Inc. Real Estate	Added	81,280	+2,423	$1,415,897	−9.8%	0.52%
BMY	Bristol Myers Squibb Co Healthcare	Added	33,259	+17	$1,381,246	−23.4%	0.50%
BNY	Bank of New York Mellon Corp Financial Services	Added	22,278	+30	$1,334,229	+4.1%	0.49%
PSX	Phillips 66 Energy	Held	8,903	0	$1,256,836	−13.6%	0.46%
WTM	White Mountains Insurance Group Ltd Financial Services	Held	659	0	$1,197,699	+1.3%	0.44%
HON	Honeywell International Inc Industrials	Added	5,645	+20	$1,191,535	+4.4%	0.44%
HSBC	Hsbc Holdings PLC Financial Services	Held	27,200	0	$1,183,200	+10.5%	0.43%
ABT	Abbott Laboratories Healthcare	Held	10,784	0	$1,120,565	−8.6%	0.41%