Karpus Management, Inc.

13F filer · CIK 1048703 · Pittsford, NY

Summary

Karpus Management, Inc. reported $3.48B across 233 positions in its 13F for 2026 Q2, filed Aug 14, 2026. The largest holdings are VOO (7.2%), MHD (6.8%), BLV (4.2%). Versus 2026 Q1, leaving options aside, it opened 27 new positions, added to 65, trimmed 113 and sold out of 25.

Reported value$3.48B

Positions233

Report period2026 Q2

FiledAug 14, 2026

New positions27

Added65

Trimmed113

Sold out25

Top 25 holdings

By reported value, options listed separately · change vs 2026 Q1

VOOVANGUARD INDEX FDS S&P 500 ETF SHTrim

Weight 7.2%Value $251.71MPrice $702.46Shares 366K -6.71%Since Jun 30 +2.28%

MHDBLACKROCK MUNIHOLDINGS FUND INCTrim

Weight 6.8%Value $235.82MPrice $10.21Shares 19.82M -1.08%Since Jun 30 -14.20%

BLVVANGUARD BD INDEX FD INC LONG TERM BONDAdd

Weight 4.2%Value $147.01MPrice $63.02Shares 2.13M +8.24%Since Jun 30 -8.57%

BTTBLACKROCK 2030 MUNICIPAL TARGET TERM TRUSTTrim

Weight 3.0%Value $105.59MPrice $21.66Shares 4.64M -1.03%Since Jun 30 -4.79%

VBVANGUARD INDEX FDS SMALL CP ETFTrim

Weight 2.8%Value $96.86MPrice $286.08Shares 320K -0.66%Since Jun 30 -5.62%

MYNBLACKROCK MUNIYIELD NEW YORK QUALITY FUND INCTrim

Weight 2.3%Value $80.58MPrice $8.70Shares 7.94M -2.71%Since Jun 30 -14.29%

VWOVANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETFTrim

Weight 2.2%Value $77.26MPrice $59.62Shares 1.29M -2.07%Since Jun 30 -0.12%

VEUVANGUARD INTL EQUITY INDEX FD ALLWRLD EX USTrim

Weight 2.2%Value $76.37MPrice $83.56Shares 912K -6.64%Since Jun 30 -0.23%

TLTISHARES LEHMAN 20plus YR TREASAdd

Weight 2.2%Value $76.30MPrice $78.23Shares 883K +222.94%Since Jun 30 -9.48%

XWIAXWESTERN ASSET CLYM INFL SEC IN COM SH BEN INTAdd

Weight 2.0%Value $70.31MPrice $8.51Shares 8.65M +3.62%Since Jun 30 +4.67%

MYIBlackRock MuniYield Quality Fund IIITrim

Weight 1.7%Value $60.46MPrice $9.52Shares 5.44M -4.13%Since Jun 30 -14.31%

IVVISHARES CORE S&P500 ETFTrim

Weight 1.7%Value $60.35MPrice $767.52Shares 81K -11.23%Since Jun 30 +2.49%

FINSANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUSTTrim

Weight 1.7%Value $59.58MPrice $11.86Shares 4.65M -0.92%Since Jun 30 -7.34%

MUCBLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUNDTrim

Weight 1.5%Value $50.59MPrice $9.65Shares 4.60M -14.43%Since Jun 30 -12.19%

NBXGNEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUNDTrim

Weight 1.4%Value $49.31MPrice $15.57Shares 2.98M -2.86%Since Jun 30 -5.86%

VCRMVANGUARD CORE TAX EXEMPT BOND ETFAdd

Weight 1.3%Value $46.88MPrice $70.96Shares 614K +3.99%Since Jun 30 -7.12%

XGDVXGABELLI DIVD & INCOME TR COMTrim

Weight 1.2%Value $42.46MPrice $32.60Shares 1.44M -3.70%Since Jun 30 +10.88%

CSQCALAMOS STRAT TOT RETURN FDAdd

Weight 1.2%Value $42.19MPrice $20.40Shares 2.05M +5.53%Since Jun 30 -0.78%

QQQXNUVEEN NAS100 DYN OVERWRT FDTrim

Weight 1.2%Value $42.01MPrice $30.14Shares 1.39M -14.85%Since Jun 30 +0.00%

BNDVANGUARD BD INDEX FD INC TOTAL BND MRKTAdd

Weight 1.2%Value $41.48MPrice $70.23Shares 565K +61.64%Since Jun 30 -4.33%

AFBALLIANCE NATIONAL MUNICIPAL INCOME FUNDAdd

Weight 1.2%Value $41.11MPrice $9.37Shares 3.60M +41.13%Since Jun 30 -17.88%

VPLVANGUARD FTSE PACIFIC ETFTrim

Weight 1.1%Value $38.99MPrice $116.19Shares 337K -8.37%Since Jun 30 +0.43%

IEURISHARES TR CORE MSCI EUROTrim

Weight 1.0%Value $36.19MPrice $74.61Shares 481K -2.25%Since Jun 30 -0.75%

BSTBLACKROCK SCIENCE & TECH TRAdd

Weight 0.9%Value $32.43MPrice $49.94Shares 639K +13.60%Since Jun 30 -1.52%

IEFISHARES LEHMAN 7-10YR TREASAdd

Weight 0.9%Value $31.36MPrice $89.45Shares 332K +1118.67%Since Jun 30 -5.41%

Stock	Weight	Value	Price	Shares	Since Jun 30	Shares change	Action
VOOVANGUARD INDEX FDS S&P 500 ETF SH	7.2%	$251.71M	$702.46	366K	+2.28%	-6.71%	Trim
MHDBLACKROCK MUNIHOLDINGS FUND INC	6.8%	$235.82M	$10.21	19.82M	-14.20%	-1.08%	Trim
BLVVANGUARD BD INDEX FD INC LONG TERM BOND	4.2%	$147.01M	$63.02	2.13M	-8.57%	+8.24%	Add
BTTBLACKROCK 2030 MUNICIPAL TARGET TERM TRUST	3.0%	$105.59M	$21.66	4.64M	-4.79%	-1.03%	Trim
VBVANGUARD INDEX FDS SMALL CP ETF	2.8%	$96.86M	$286.08	320K	-5.62%	-0.66%	Trim
MYNBLACKROCK MUNIYIELD NEW YORK QUALITY FUND INC	2.3%	$80.58M	$8.70	7.94M	-14.29%	-2.71%	Trim
VWOVANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF	2.2%	$77.26M	$59.62	1.29M	-0.12%	-2.07%	Trim
VEUVANGUARD INTL EQUITY INDEX FD ALLWRLD EX US	2.2%	$76.37M	$83.56	912K	-0.23%	-6.64%	Trim
TLTISHARES LEHMAN 20plus YR TREAS	2.2%	$76.30M	$78.23	883K	-9.48%	+222.94%	Add
XWIAXWESTERN ASSET CLYM INFL SEC IN COM SH BEN INT	2.0%	$70.31M	$8.51	8.65M	+4.67%	+3.62%	Add
MYIBlackRock MuniYield Quality Fund III	1.7%	$60.46M	$9.52	5.44M	-14.31%	-4.13%	Trim
IVVISHARES CORE S&P500 ETF	1.7%	$60.35M	$767.52	81K	+2.49%	-11.23%	Trim
FINSANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST	1.7%	$59.58M	$11.86	4.65M	-7.34%	-0.92%	Trim
MUCBLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND	1.5%	$50.59M	$9.65	4.60M	-12.19%	-14.43%	Trim
NBXGNEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND	1.4%	$49.31M	$15.57	2.98M	-5.86%	-2.86%	Trim
VCRMVANGUARD CORE TAX EXEMPT BOND ETF	1.3%	$46.88M	$70.96	614K	-7.12%	+3.99%	Add
XGDVXGABELLI DIVD & INCOME TR COM	1.2%	$42.46M	$32.60	1.44M	+10.88%	-3.70%	Trim
CSQCALAMOS STRAT TOT RETURN FD	1.2%	$42.19M	$20.40	2.05M	-0.78%	+5.53%	Add
QQQXNUVEEN NAS100 DYN OVERWRT FD	1.2%	$42.01M	$30.14	1.39M	+0.00%	-14.85%	Trim
BNDVANGUARD BD INDEX FD INC TOTAL BND MRKT	1.2%	$41.48M	$70.23	565K	-4.33%	+61.64%	Add
AFBALLIANCE NATIONAL MUNICIPAL INCOME FUND	1.2%	$41.11M	$9.37	3.60M	-17.88%	+41.13%	Add
VPLVANGUARD FTSE PACIFIC ETF	1.1%	$38.99M	$116.19	337K	+0.43%	-8.37%	Trim
IEURISHARES TR CORE MSCI EURO	1.0%	$36.19M	$74.61	481K	-0.75%	-2.25%	Trim
BSTBLACKROCK SCIENCE & TECH TR	0.9%	$32.43M	$49.94	639K	-1.52%	+13.60%	Add
IEFISHARES LEHMAN 7-10YR TREAS	0.9%	$31.36M	$89.45	332K	-5.41%	+1118.67%	Add

Weight is the share of the reported 13F value, including options at notional value. “Since Jun 30” compares the latest close with the quarter-end price implied by the filing (value ÷ shares).

Largest buys in 2026 Q2

TLTISHARES LEHMAN 20plus YR TREAS≈ $52.68MAdd

IEFISHARES LEHMAN 7-10YR TREAS≈ $28.79MAdd

APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05No ticker match≈ $26.35MNew

VGTVANGUARD WORLD FDS INF TECH ETF≈ $16.79MAdd

BNDVANGUARD BD INDEX FD INC TOTAL BND MRKT≈ $15.82MAdd

Largest sells in 2026 Q2

GPATGP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.00≈ $24.18MSold

LEGTLEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00≈ $23.51MSold

SIMASIM ACQ CRP; TNT ACQ DT8/30/2024 7/12/2026; CASH $10.00≈ $18.49MSold

VOOVANGUARD INDEX FDS S&P 500 ETF SH≈ $15.76MTrim

QSEAQUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00≈ $13.29MTrim

Source: SEC Form 13F, values as reported by the filer. Filings lag up to 45 days after quarter end and cover only certain long positions. Research only, not investment advice.

Original filing All 13F filings on EDGAR