Karpus Management, Inc. 13F holdings
Karpus Management, Inc. reported 232 positions with a total reported value of $3.5B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-14. Top holdings by reported value: VANGUARD INDEX FDS S&P 500 ETF SH (7.2%), MHD BLACKROCK MUNIHOLDINGS FUND INC (6.8%), VANGUARD BD INDEX FD INC LONG TERM BOND (4.2%), BTT BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST (3.0%), VANGUARD INDEX FDS SMALL CP ETF (2.8%). Against 2026-03-31 it opened 30 new positions and exited 27. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 232 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| VANGUARD INDEX FDS S&P 500 ETF SH | 366,496 | $251.7M | 7.2% |
| MHD BLACKROCK MUNIHOLDINGS FUND INC | 19,816,954 | $235.8M | 6.8% |
| VANGUARD BD INDEX FD INC LONG TERM BOND | 2,132,736 | $147.0M | 4.2% |
| BTT BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST | 4,641,247 | $105.6M | 3.0% |
| VANGUARD INDEX FDS SMALL CP ETF | 319,556 | $96.9M | 2.8% |
| MYN BLACKROCK MUNIYIELD NEW YORK QUALITY FUND INC | 7,938,637 | $80.6M | 2.3% |
| VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF | 1,294,280 | $77.3M | 2.2% |
| VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US | 911,846 | $76.4M | 2.2% |
| ISHARES LEHMAN 20plus YR TREAS | 882,953 | $76.3M | 2.2% |
| WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT | 8,648,798 | $70.3M | 2.0% |
| MYI BlackRock MuniYield Quality Fund III | 5,442,103 | $60.5M | 1.7% |
| ISHARES CORE S&P500 ETF | 80,591 | $60.4M | 1.7% |
| FINS ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST | 4,654,677 | $59.6M | 1.7% |
| BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND | 4,603,531 | $50.6M | 1.5% |
| NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND | 2,981,177 | $49.3M | 1.4% |
| VANGUARD CORE TAX EXEMPT BOND ETF | 613,630 | $46.9M | 1.3% |
| GDV GABELLI DIVD & INCOME TR COM | 1,444,270 | $42.5M | 1.2% |
| CSQ CALAMOS STRAT TOT RETURN FD | 2,052,204 | $42.2M | 1.2% |
| QQQX NUVEEN NAS100 DYN OVERWRT FD | 1,393,850 | $42.0M | 1.2% |
| VANGUARD BD INDEX FD INC TOTAL BND MRKT | 565,055 | $41.5M | 1.2% |
| ALLIANCE NATIONAL MUNICIPAL INCOME FUND | 3,603,262 | $41.1M | 1.2% |
| VANGUARD FTSE PACIFIC ETF | 337,048 | $39.0M | 1.1% |
| ISHARES TR CORE MSCI EURO | 481,445 | $36.2M | 1.0% |
| BST BLACKROCK SCIENCE & TECH TR | 639,482 | $32.4M | 0.9% |
| ISHARES LEHMAN 7-10YR TREAS | 331,612 | $31.4M | 0.9% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 30 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| ISHARES LEHMAN 20plus YR TREAS | 882,953 | $76.3M | 2.2% |
| VANGUARD CORE TAX EXEMPT BOND ETF | 613,630 | $46.9M | 1.3% |
| AACP APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05 | 2,648,075 | $26.3M | 0.8% |
| VECA VERNAL CAPITAL ACQ CRP; TNT ACQ DT: 2/6/2028; CASH: $10.00 | 1,484,400 | $14.8M | 0.4% |
| ACGC ACP ACQ CRP; TNT ACQ DT: 10/7/2027; CASH: $10.05 | 1,348,625 | $13.4M | 0.4% |
| BHAV BHAV ACQ CRP; TNT ACQ DT: 6/19/2027; CASH: $10.00 | 1,267,457 | $12.6M | 0.4% |
| TRAD APEX TECH ACQ CRP; TNT ACQ DT: 5/26/2027; CASH: $10.00 | 1,171,450 | $11.7M | 0.3% |
| FMAC FUTURE MONEY ACQ CRP; TNT ACQ DT: 12/26/2027; CASH: $10.05 | 1,163,950 | $11.6M | 0.3% |
| GAB GABELLI EQUITY TRUST INC | 1,973,929 | $11.2M | 0.3% |
| ARTC ART TECHNOLOGY ACQ CRP; TNT ACQ DT: 4/6/2028; CASH: $10.00 | 973,200 | $9.7M | 0.3% |
| PECE PEACE ACQ CRP; TNT ACQ DT: 8/22/2027; CASH: $10.05 | 733,675 | $7.3M | 0.2% |
| OHAC OCEANHAWK ACQ CRP; TNT ACT DT: 11/21/2027; CASH: $10.05 | 672,300 | $6.7M | 0.2% |
| QRED QUASAREDGE ACQ CRP; TNT ACQ DT: 7/15/2027; CASH: $10.00 | 553,175 | $5.5M | 0.2% |
| K2 CAPITAL ACQ CRP; TNT ACQ DT: 7/28/2027; CASH: $10.00 | 490,700 | $4.9M | 0.1% |
| WENC WEST ENCLAVE ACQ CRP; TNT ACQ DT: 1/30/2028; CASH: $10.10 | 439,253 | $4.4M | 0.1% |
| DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF | 105,610 | $4.2M | 0.1% |
| QADR QDRO ACQ CRP; TNT ACQ DT: 9/26/2027; CASH: $10.00 | 399,050 | $4.0M | 0.1% |
| SORN SOREN ACQ CRP; TNT ACQ DT: 1/7/2028; CASH: $10.00 | 361,700 | $3.6M | 0.1% |
| XSLL XSOLLA ACQ CRP; TNT ACQ DT: 1/28/2028; CASH: $10.00 | 320,225 | $3.2M | <0.1% |
| WESTERN ASSET INCOME FD COM | 206,018 | $2.5M | <0.1% |
| ARCL ARC GROUP ACQ CRP; TNT ACQ DT: 7/30/2027; CASH: $10.00 | 247,600 | $2.4M | <0.1% |
| EVAC EQV VENTURES ACQ CRP II; TNT ACQ DT: 7/1/2027; CASH: $10.00 | 200,000 | $2.0M | <0.1% |
| MCAH MOUNTAIN CREST ACQ CRP VI; TNT ACQ DT: 4/30/2027; CASH: $10.00 | 167,500 | $1.7M | <0.1% |
| VANGUARD ST TAX-EXEMPT BOND ETF | 21,000 | $1.6M | <0.1% |
| Collective Acquisition Corp | 141,000 | $1.5M | <0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 27 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| VANGUARD CORE TAX-EXEMPT BOND ETF | 590,059 | $44.3M | 1.4% |
| GPAT GP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.00 | 2,230,216 | $24.2M | 0.8% |
| ISHARES LEHMAN 20-plus YR TREAS | 273,415 | $23.7M | 0.7% |
| LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00 | 2,139,308 | $23.5M | 0.7% |
| SIMAU SIM ACQ CRP; TNT ACQ DT8/30/2024 7/12/2026; CASH $10.00 | 1,725,032 | $18.5M | 0.6% |
| LPAAU LAUNCH ONE ACP CRP; TNT ACQ DT: 7/12/2026; CASH: $10.00 | 1,085,250 | $11.6M | 0.4% |
| CUB LIONHEART HOLDINGS ACQ CRP; TNT ACQ DT: 6/18/2026; CASH $10.00 | 1,031,975 | $11.1M | 0.3% |
| ISHARES S&P GSSI NATURAL RES | 127,079 | $8.0M | 0.2% |
| FSHPU FLAG SHIP ACQ CRP; TNT ACQ DT: 6/18/2025; CASH $10.00 | 727,825 | $8.0M | 0.2% |
| EATON VANCE TAX-ADV GLOBAL DIV INCOME FUND | 387,327 | $7.8M | 0.2% |
| RDAC Rising Dragon Acquisition Corp | 736,550 | $7.7M | 0.2% |
| VOYAGER ACQ CRP; TNT ACQ DT: 8/9/2026; CASH: $10.05 | 667,041 | $7.1M | 0.2% |
| A PARADISE ACQ CRP; TTNT ACQ DT: 7/30/2027; CASH: $10.00 | 654,061 | $6.7M | 0.2% |
| BLUE ACQ CRP; TNT ACQ DT: 03/13/2027; CASH: $10.00 | 645,990 | $6.6M | 0.2% |
| MOUNTAIN LAKE ACQ CRP; TNT ACQ DT: 6/13/2026; CASH: $10.05 | 620,220 | $6.5M | 0.2% |
| TRIDENT ACQ CORP; TNT ACQ DATE: 11/30/19; CASH $10.20 | 603,425 | $6.4M | 0.2% |
| TWN TAIWAN FD INC COM | 75,028 | $4.9M | 0.2% |
| EURK EUREKA ACQ CRP; TNT ACQ DT: 1/12/2026; CASH $10.00 | 200,925 | $2.3M | <0.1% |
| GRAF INDUSTRIAL ACQ CORP; TNT ACQ DT: 9/7/2020; CASH $10.00 | 192,600 | $2.1M | <0.1% |
| BSAA BEST SPAC ACQ CRP; TNT ACQ DT: 12/13/2026; CASH: $10.00 | 170,501 | $1.7M | <0.1% |
| DUNE ACQ CRP; TNT ACQ DT: 8/7/2026; CASH:$10.02 | 141,000 | $1.5M | <0.1% |
| AXIN AXIOM INTELLGENCE ACQ CRP; TNT ACQ DT: 6/18/2027; CASH: $10.00 | 102,500 | $1.0M | <0.1% |
| NHIC NEWHOLD INVESTMENT ACQ CRP III; TNT ACQ DT: 2/28/2027; CASH: $10.05 | 83,900 | $870.0K | <0.1% |
| OAK WOODS ACQ CRP; TNT ACQ DT: 3/24/2024; CASH: $10.175 | 66,700 | $813.7K | <0.1% |
| STEW SRH TOTAL RETURN FUND INC | 29,393 | $502.6K | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| ISHARES LEHMAN 7-10YR TREAS | 27,211 | 331,612 | +1,118.7% | $31.4M |
| VANGUARD WORLD FDS INF TECH ETF | 20,880 | 161,378 | +672.9% | $19.3M |
| VANGUARD BD INDEX FD INC TOTAL BND MRKT | 349,587 | 565,055 | +61.6% | $41.5M |
| VANGUARD GROWTH ETF | 33,805 | 201,907 | +497.3% | $17.4M |
| ALLIANCE NATIONAL MUNICIPAL INCOME FUND | 2,553,118 | 3,603,262 | +41.1% | $41.1M |
| VANGUARD BD INDEX FD INC LONG TERM BOND | 1,970,328 | 2,132,736 | +8.2% | $147.0M |
| FIGX FIGX CAPITAL ACQ CRP; TNT ACQ DT: 6/27/2027; CASH: $10.00 | 439,949 | 1,163,324 | +164.4% | $11.9M |
| JOHN HANCOCK HEDGED EQUITY & INCOME FUND | 518,501 | 909,620 | +75.4% | $10.4M |
| ORIGIN ACQ CRP; TNT ACQ DT: 7/1/2027; CASH: $10.10 | 875,728 | 1,286,528 | +46.9% | $13.3M |
| BST BLACKROCK SCIENCE & TECH TR | 562,909 | 639,482 | +13.6% | $32.4M |
| VIRTUS ALLIANZGI ARTIFICIAL INTELLIGENCE & TECHNOLOGY OPP FD | 193,632 | 324,291 | +67.5% | $9.1M |
| JHS JOHN HANCOCK INCOME SECURITIES TRUST | 532,698 | 846,161 | +58.8% | $9.3M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| VANGUARD INDEX FDS S&P 500 ETF SH | 392,872 | 366,496 | -6.7% | $251.7M |
| QSEA QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00 | 2,256,805 | 974,765 | -56.8% | $10.3M |
| BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND | 5,379,853 | 4,603,531 | -14.4% | $50.6M |
| ISHARES CORE S&P500 ETF | 90,790 | 80,591 | -11.2% | $60.4M |
| QQQX NUVEEN NAS100 DYN OVERWRT FD | 1,636,959 | 1,393,850 | -14.9% | $42.0M |
| PLMK PLUM ACQ CRP IV; TNT ACQ DT: 7/15/2026; CASH: $10.10 | 662,200 | 11,750 | -98.2% | $125.4K |
| EIM EATON VANCE MUN BD FD COM | 2,296,254 | 1,660,000 | -27.7% | $16.5M |
| VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US | 976,719 | 911,846 | -6.6% | $76.4M |
| ISHARES MSCI SOUTH KOREA IND | 75,475 | 50,375 | -33.3% | $10.2M |
| KTF DWS MUNICIPAL INCOME TRUST | 3,291,016 | 2,760,957 | -16.1% | $25.4M |
| VANGUARD INDEX FDS TOTAL STK MKT | 80,671 | 68,670 | -14.9% | $25.4M |
| ISHARES RUSSELL 1000 ETF | 85,096 | 74,490 | -12.5% | $30.5M |
CIK 1048703 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
