Karpus Management, Inc. Top Holdings and 13F Report (2025)

About Karpus Management, Inc.

Investment Activity

Karpus Management, Inc. has $3.10 billion in total holdings as of June 30, 2025.
Karpus Management, Inc. owns shares of 199 different stocks, but just 65 companies or ETFs make up 80% of its holdings.
Approximately 11.58% of the portfolio was purchased this quarter.
About 14.11% of the portfolio was sold this quarter.
This quarter, Karpus Management, Inc. has purchased 202 new stocks and bought additional shares in 57 stocks.
Karpus Management, Inc. sold shares of 106 stocks and completely divested from 27 stocks this quarter.

Largest Holdings

Vanguard S&P 500 ETF: $259,590,584
Nuveen New York AMT-Free Quality Municipal Income Fund: $143,576,039
BlackRock MuniHoldings Fund: $80,461,421
iShares Core S&P 500 ETF: $79,450,082
Blackrock Municipal 2030 Target Term Trust: $78,538,669

Largest New Holdings this Quarter

G7314B104 - QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00: $23,108,271 Holding
09249E101 - BlackRock Core Bond Trust: $19,306,593 Holding
G24979109 - CRANE HARBOR ACQ CRP; TNT AC DT: 4/24/2027; CASH: $10.00: $18,284,603 Holding
G8772L105 - TEXAS VENTURES ACQ CRP III; TNT ACQ DT: 10/23/2026; CASH: $10.05: $15,336,548 Holding
69374H709 - Pacer Global Cash Cows Dividend ETF: $8,980,724 Holding

Largest Purchases this Quarter

Vanguard Long-Term Bond ETF: 819,674 shares (about $57.00M)
Angel Oak Financial Strategies Income Term Trust: 1,989,029 shares (about $25.82M)
QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00: 2,300,475 shares (about $23.11M)
Vanguard Short-Term Tax-Exempt Bond ETF: 212,050 shares (about $21.40M)
BlackRock Core Bond Trust: 1,986,275 shares (about $19.31M)

Largest Sales this Quarter

Nuveen AMT-Free Quality Municipal Income Fund: 5,630,875 shares (about $61.49M)
Nuveen Quality Municipal Income Fund: 3,102,763 shares (about $35.03M)
Nuveen New York AMT-Free Quality Municipal Income Fund: 3,454,464 shares (about $34.23M)
GP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.00: 1,269,161 shares (about $13.39M)
INV VK TR INV: 1,281,993 shares (about $12.17M)

Sector Allocation Over Time

Selling

Neutral

Buying

Latest 13F Holdings and Changes Since Previous Quarterly Filing

Issuer Name	Holdings Value	Approximate Purchase/Sale	Change in Shares	Shares Held	% of Portfolio	Sector
VOO Vanguard S&P 500 ETF	$259,590,584	$2,725,405 ▼	-1.0%	457,002	8.4%	ETF
NRK Nuveen New York AMT-Free Quality Municipal Income Fund	$143,576,039	$34,233,738 ▼	-19.3%	14,487,996	4.6%	Financial Services
MHD BlackRock MuniHoldings Fund	$80,461,421	$2,942,240 ▼	-3.5%	7,184,055	2.6%	Financial Services
IVV iShares Core S&P 500 ETF	$79,450,082	$7,532,111 ▼	-8.7%	127,960	2.6%	ETF
BTT Blackrock Municipal 2030 Target Term Trust	$78,538,669	$12,589,749 ▲	19.1%	3,587,879	2.5%	Financial Services
VB Vanguard Small-Cap ETF	$77,013,249	$298,595 ▼	-0.4%	324,978	2.5%	ETF
FINS Angel Oak Financial Strategies Income Term Trust	$71,796,730	$25,817,597 ▲	56.2%	5,531,335	2.3%	Financial Services
EATON VANCE MUN BD FD COM	$70,542,218	$2,720,239 ▲	4.0%	7,294,955	2.3%	COM
WIA Western Asset Inflation-Linked Income Fund	$67,849,137	$2,284,153 ▲	3.5%	8,077,278	2.2%	Financial Services
BLV Vanguard Long-Term Bond ETF	$64,759,398	$57,000,125 ▲	734.6%	931,254	2.1%	ETF
AA MISSION ACQ CRP; TNT ACQ DT: 8/1/2026; CASH: $10.05	$62,545,883	$427,678 ▼	-0.7%	6,002,484	2.0%	ORD SHS CL A
VWO Vanguard FTSE Emerging Markets ETF	$60,498,067	$570,076 ▲	1.0%	1,223,172	2.0%	ETF
MVF BlackRock MuniVest Fund	$59,708,473	$8,270,455 ▼	-12.2%	9,074,236	1.9%	Finance
NBXG Neuberger Berman Next Generation Connectivity Fund	$52,954,213	$857,677 ▼	-1.6%	3,627,001	1.7%
MUC BlackRock MuniHoldings California Quality Fund	$48,222,990	$3,831,125 ▼	-7.4%	4,659,226	1.6%	Finance
QQQX Nuveen NASDAQ 100 Dynamic Overwrite Fund	$47,732,149	$318,434 ▼	-0.7%	1,803,255	1.5%	Finance
GDV The Gabelli Dividend & Income Trust	$46,506,101	$397,927 ▲	0.9%	1,788,008	1.5%	Financial Services
SHM SPDR Nuveen ICE Short Term Municipal Bond ETF	$43,931,878	$9,435,955 ▲	27.4%	918,500	1.4%	Finance
BFK BlackRock Municipal Income Trust	$43,198,505	$920,228 ▲	2.2%	4,504,536	1.4%	Financial Services
BLE BlackRock Municipal Income Trust II	$43,049,496	$3,361,483 ▲	8.5%	4,287,798	1.4%	Financial Services
VEU Vanguard FTSE All-World ex-US ETF	$42,980,038	$9,462,352 ▲	28.2%	639,394	1.4%	ETF
VTI Vanguard Total Stock Market ETF	$41,941,355	$1,238,513 ▼	-2.9%	137,997	1.4%	ETF
LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00	$37,327,711	$3,655,091 ▼	-8.9%	3,495,104	1.2%	ORD SHS
IEUR iShares Core MSCI Europe ETF	$31,486,734	$306,639 ▲	1.0%	475,630	1.0%	ETF
IEF iShares 7-10 Year Treasury Bond ETF	$30,068,830	$10,086,311 ▼	-25.1%	313,969	1.0%	ETF
VUG Vanguard Growth ETF	$29,702,915	$608,061 ▲	2.1%	67,753	1.0%	ETF
IWB iShares Russell 1000 ETF	$29,022,413	$16,645,068 ▲	134.5%	85,468	0.9%	ETF
VPL Vanguard FTSE Pacific ETF	$28,671,947	$795,585 ▲	2.9%	348,892	0.9%	ETF
DRUGS MADE IN AMERICA ACQ CRP: 4/28/2026; CASH: $10.05	$27,989,912	$4,284,765 ▲	18.1%	2,744,109	0.9%	ORD SHS
KTF DWS Municipal Income Trust	$27,032,151	$6,053,419 ▲	28.9%	3,057,936	0.9%	Finance
IB ACQ CRP; TNT ACQ DT: 9/26/2025; CASH: $10.05	$27,008,614	$328,077 ▼	-1.2%	2,587,032	0.9%	COM SHS
BND Vanguard Total Bond Market ETF	$25,962,749	$881,351 ▼	-3.3%	352,611	0.8%	ETF
RF ACQUISITION CORP II. TNT ACQ DT: 11/21/2025; CASH: $10.05	$25,493,572	$654,787 ▼	-2.5%	2,421,042	0.8%	SHS
GP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.00	$24,676,619	$13,389,649 ▼	-35.2%	2,339,016	0.8%	CL A
TAVIA ACQ CRP; TNT ACQ DT: 6/4/2026; CASH: $10.05	$23,726,977	$286,723 ▼	-1.2%	2,314,827	0.8%	SHS
VTES Vanguard Short-Term Tax-Exempt Bond ETF	$23,425,853	$21,402,207 ▲	1,057.6%	232,100	0.8%	ETF
QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00	$23,108,271	$23,108,271 ▲	New Holding	2,300,475	0.7%	ORD SHS
VGK Vanguard FTSE Europe ETF	$21,163,855	$143,453 ▲	0.7%	273,082	0.7%	ETF
XLF Financial Select Sector SPDR Fund	$20,874,575	$1,277,723 ▲	6.5%	398,598	0.7%	ETF
BGY BlackRock Enhanced International Dividend Trust	$20,256,557	$5,360,335 ▼	-20.9%	3,498,542	0.7%	Financial Services
MHN BlackRock MuniHoldings New York Quality Fund	$20,136,597	$122,053 ▼	-0.6%	2,050,570	0.6%	Finance
VKQ INV VK MUN TR	$19,994,724	$315,666 ▼	-1.6%	2,185,216	0.6%	Finance
SIM ACQ CRP; TNT ACQ DT8/30/2024 7/12/2026; CASH $10.00	$19,988,431	$1,933,675 ▼	-8.8%	1,917,889	0.6%	SHS CL A
BHK BlackRock Core Bond Trust	$19,306,593	$19,306,593 ▲	New Holding	1,986,275	0.6%	Financial Services
MYN BlackRock MuniYield New York Quality Fund	$19,032,892	$196,328 ▼	-1.0%	1,997,155	0.6%	Finance
CRANE HARBOR ACQ CRP; TNT AC DT: 4/24/2027; CASH: $10.00	$18,284,603	$18,284,603 ▲	New Holding	1,815,750	0.6%	CL A
GIGCAPITAL 7 ACQ CRP; TNT ACQ DT: 05/29/2026; CASH: $10.00	$18,083,247	$1,539,354 ▼	-7.8%	1,742,124	0.6%	ORD SHS CL A
ASG Liberty All-Star Growth Fund	$17,969,868	$12,565 ▼	-0.1%	3,285,168	0.6%	Finance
NFJ Virtus Dividend, Interest & Premium Strategy Fund	$17,823,405	$573,091 ▼	-3.1%	1,437,371	0.6%	Financial Services
BOE BlackRock Enhanced Global Dividend Trust	$17,766,305	$3,789,005 ▼	-17.6%	1,565,313	0.6%	Financial Services
AOD Aberdeen Total Dynamic Dividend Fund	$17,695,758	$1,134,576 ▼	-6.0%	1,997,264	0.6%	Miscellaneous
ETO Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund	$17,514,574	$415,844 ▼	-2.3%	644,155	0.6%	Financial Services
VGM INV VK TR INV	$17,297,813	$12,166,114 ▼	-41.3%	1,822,741	0.6%	Finance
VGT Vanguard Information Technology ETF	$16,999,866	$122,044 ▼	-0.7%	25,630	0.5%	ETF
EXG Eaton Vance Tax-Managed Global Diversified Equity Income Fund	$16,266,140	$5,484,291 ▼	-25.2%	1,858,987	0.5%	Financial Services
ETG Eaton Vance Tax-Advantaged Global Dividend Income Fund	$16,217,170	$9,264,986 ▼	-36.4%	774,459	0.5%	Financial Services
CHARLTON ASIA ACQ CRP; TNT ACQ DT: 04/24/2026; CASH: $10.025	$16,142,859	$1,509,361 ▲	10.3%	1,570,317	0.5%	ORD SHS CL A
AGRICULTURE & NATURAL SOLUTIONS ACQ CRP; TNT ACQ DT: 11/10/2025; CASH: $10.00	$15,379,528	$1,638,079 ▲	11.9%	1,417,468	0.5%	SHS CL A
TEXAS VENTURES ACQ CRP III; TNT ACQ DT: 10/23/2026; CASH: $10.05	$15,336,548	$15,336,548 ▲	New Holding	1,519,975	0.5%	USD CL A ORD SHS
EVT Eaton Vance Tax-Advantaged Dividend Income Fund	$15,168,371	$142,648 ▼	-0.9%	629,393	0.5%	Financial Services
KEEN VISION ACQ CRP; TNT ACQ DT: 4/25/2024; CASH: $10.13	$14,846,207	$309,833 ▼	-2.0%	1,305,735	0.5%	SHS
ETW Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund	$14,665,997	$280,943 ▼	-1.9%	1,695,491	0.5%	Financial Services
MIN MFS Intermediate Income Trust	$13,845,027	$5,260,411 ▼	-27.5%	5,108,866	0.4%	Finance
MELAR ACQ CRP; TNT ACQ DT: 6/18/2025; CASH: $10.00	$13,374,374	$3,791,220 ▼	-22.1%	1,272,538	0.4%	SHS CL A
LAUNCH ONE ACP CRP; TNT ACQ DT: 7/12/2026; CASH: $10.00	$12,656,568	$2,025,197 ▼	-13.8%	1,215,225	0.4%	SHS CLASS A
BBJP JPMorgan BetaBuilders Japan ETF	$12,495,067	$992,557 ▲	8.6%	202,251	0.4%	ETF
BST BlackRock Science and Technology Trust	$12,328,257	$847,946 ▲	7.4%	322,983	0.4%	Financial Services
K&F GROWTH ACQ CRP; TNT ACQ DT: 11/05/2026; CASH: $10.05	$12,067,627	$58,790 ▲	0.5%	1,185,425	0.4%	SHS CL A
DPG Duff & Phelps Utility and Infrastructure Fund	$12,045,109	$659,256 ▼	-5.2%	970,597	0.4%	Financial Services
CHW Calamos Global Dynamic Income Fund	$11,808,607	$2,211,405 ▲	23.0%	1,656,186	0.4%	Financial Services
AFB AllianceBernstein National Municipal Income Fund	$11,804,813	$4,401,441 ▲	59.5%	1,144,987	0.4%	Financial Services
LIONHEART HOLDINGS ACQ CRP; TNT ACQ DT: 6/18/2026; CASH $10.00	$11,754,488	$4,248,038 ▼	-26.5%	1,119,475	0.4%	SHS CL A
AIMEI ACQ CRP; TNT ACQ DT: 12/02/2024; CASH: $10.10	$11,739,294	$195,629 ▼	-1.6%	1,061,419	0.4%	SHS
PIONEER DIVERSIFIED HIGH INCOME TRUST	$11,511,678	$179,284 ▼	-1.5%	920,566	0.4%	COM
RENE Cartesian Growth Co. II	$10,784,559	$157,573 ▼	-1.4%	901,719	0.3%	Financial Services
BLACK HAWK ACQ CRP; TNT ACQ DT: 6/22/2025; CASH: $10.05	$10,782,317	$474,098 ▼	-4.2%	1,014,329	0.3%	USD CL A SHS
AIFEEX NEXUS ACQ CRP; TNT ACQ DT: 3/5/2026; CASH: $10.00	$10,511,868	$1,321,110 ▲	14.4%	1,032,600	0.3%	ORD SHS CL A
BIGZ BlackRock Innovation and Growth Term Trust	$10,445,563	$475,639 ▼	-4.4%	1,423,101	0.3%	Financial Services
IGD Voya Global Equity Dividend and Premium Opportunity Fund	$10,429,629	$2,068,518 ▼	-16.6%	1,798,212	0.3%	Financial Services
AI TRANSPORTATION ACQ CORP. TNT ACQ DT: 11/08/2024; CASH: $10.10	$10,425,789	$55,275 ▼	-0.5%	947,799	0.3%	ORD SHS
MAYWOOD ACQ CRP; TNT ACQ DT: 5/13/2026; CASH: $10.00	$10,416,191	$1,774,558 ▲	20.5%	1,030,286	0.3%	ORD SHS CL A
MEGI MainStay CBRE Global Infrastructure Megatrends Term Fund	$9,798,520	$1,313,786 ▼	-11.8%	689,551	0.3%
EWC iShares MSCI Canada ETF	$9,221,460	$2,284,171 ▲	32.9%	199,599	0.3%	ETF
BSTZ BlackRock Science and Technology Term Trust	$9,118,769	$5,069,679 ▼	-35.7%	439,459	0.3%	Financial Services
TDF Templeton Dragon Fund	$9,023,699	$127,702 ▼	-1.4%	903,273	0.3%	Finance
GCOW Pacer Global Cash Cows Dividend ETF	$8,980,724	$8,980,724 ▲	New Holding	236,522	0.3%	ETF
YHN ACQ CRP; TNT ACQ DT: 12/18/2025; CASH: $10.05	$8,703,439	$232,260 ▼	-2.6%	842,051	0.3%	SHS
CAF Morgan Stanley China A Share Fund	$8,539,558	$28,599 ▲	0.3%	619,887	0.3%	Financial Services
FLAG SHIP ACQ CRP; TNT ACQ DT: 6/18/2025; CASH $10.00	$8,185,502	$844,665 ▼	-9.4%	787,825	0.3%	ORD SHS
EZU iShares MSCI Eurozone ETF	$8,171,997	$8,171,997 ▲	New Holding	137,460	0.3%	ETF
JOF Japan Smaller Capitalization Fund	$7,978,623	$1,609,273 ▼	-16.8%	827,658	0.3%	Finance
CO2 ENERGY TRANSITION ACQ CRP; TNT ACQ DT: 5/21/2026; CASH: $10.05	$7,890,056	$627,109 ▲	8.6%	783,521	0.3%	COM
COPLEY ACQ CRP; TNT ACQ DT: 4/30/2027; CASH: $10.05	$7,874,629	$7,874,629 ▲	New Holding	781,989	0.3%	ORD SHS CL A
Rising Dragon Acquisition Corp	$7,790,148	$196,473 ▼	-2.5%	756,325	0.3%	SHS
IEV iShares Europe ETF	$7,611,752	$1,196,816 ▼	-13.6%	120,344	0.2%	ETF
VOYAGER ACQ CRP; TNT ACQ DT: 8/9/2026; CASH: $10.05	$7,450,711	$228,510 ▼	-3.0%	717,325	0.2%	CL A
HAYMAKER 4 ACQ CRP; TNT ACQ DT: 7/25/2025; CASH: $10.10	$7,448,378	$1,859,250 ▼	-20.0%	671,025	0.2%	CLASS A
MOUNTAIN LAKE ACQ CRP; TNT ACQ DT: 6/13/2026; CASH: $10.05	$7,431,523	$2,005,625 ▼	-21.3%	724,320	0.2%	SHS CL A
VMO INV VK MUN OPP	$7,415,673	$3,494,126 ▼	-32.0%	807,808	0.2%	Finance
KIO KKR Income Opportunities Fund	$7,176,797	$1,317,544 ▼	-15.5%	571,401	0.2%	Financial Services

Showing largest 100 holdings. View all holdings.

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Karpus Management, Inc. Top Holdings and 13F Report (2025)

About Karpus Management, Inc.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

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Karpus Management, Inc. Top Holdings and 13F Report (2025)

About Karpus Management, Inc.

Investment Activity

Largest Holdings

Largest New Holdings this Quarter

Largest Purchases this Quarter

Largest Sales this Quarter

Sector Allocation Over Time

Map of 500 Largest Holdings ofKarpus Management, Inc.

Latest 13F Holdings and Changes Since Previous Quarterly Filing

More Institutional Buying and Selling Information

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools