Fund HoldingsKarpus Management, Inc.

Total Portfolio Value
$3.10B
Total Bought
$423.02M
Total Sold
$511.93M
Net Transaction
-$88.91M
Filing Period:
Securities
SharesValue ($K)
Q1 2025
Q2 2025
Change
Q1 2025
Q2 2025
Weight (%)
Change
VANGUARD BD INDEX FD INC LONG TERM BOND0931,254+931,254064,7592.09%+64,759
SPDR SER TR NUVN BR SHT MUNI
ST NUVE TERM ETF
0918,500+918,500043,9321.42%+43,932
ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST05,531,335+5,531,335071,7972.32%+71,797
QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.0002,300,475+2,300,475023,1080.75%+23,108
VANGUARD INDEX FDS S&P 500 ETF SH0457,002+457,0020259,5918.37%+259,591
VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF20,050232,100+212,0502,01523,4260.76%+21,411
BLACKROCK CORE BD TR SHS BEN INT01,986,275+1,986,275019,3070.62%+19,307
CRANE HARBOR ACQ CRP; TNT AC DT: 4/24/2027; CASH: $10.0001,815,750+1,815,750018,2850.59%+18,285
ISHARES RUSSELL 1000 ETF36,45085,468+49,01811,18129,0220.94%+17,842
TEXAS VENTURES ACQ CRP III; TNT ACQ DT: 10/23/2026; CASH: $10.05
USD CL A ORD SHS
01,519,975+1,519,975015,3370.49%+15,337
BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST(BTT)3,012,7423,587,879+575,13763,96178,5392.53%+14,578
VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US498,627639,394+140,76730,24742,9801.39%+12,733
PACER GLOBAL CASH COWS DIVIDEND
GLOBL CASH ETF
0236,522+236,52208,9810.29%+8,981
ISHARES EMU ETF0137,460+137,46008,1720.26%+8,172
COPLEY ACQ CRP; TNT ACQ DT: 4/30/2027; CASH: $10.050781,989+781,98907,8750.25%+7,875
NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND(NBXG)03,627,001+3,627,001052,9541.71%+52,954
ISHARES MSCI SOUTH KOREA IND083,418+83,41805,9880.19%+5,988
SOULPOWER ACQ CRP; TNT ACQ DT: 4/2/2027; CASH: $10.000585,950+585,95005,8830.19%+5,883
PIONEER MUNICIPAL HIGH INCOME OPPORTUNITIES FUND0496,367+496,36705,8570.19%+5,857
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF1,211,6461,223,172+11,52654,83960,4981.95%+5,659
VANGUARD GROWTH ETF067,753+67,753029,7030.96%+29,703
DWS MUNICIPAL INCOME TRUST2,373,1603,057,936+684,77622,26027,0320.87%+4,772
DRUGS MADE IN AMERICA ACQ CRP: 4/28/2026; CASH: $10.05
ORD SHS
2,324,0342,744,109+420,07523,28727,9900.90%+4,703
VANGUARD INDEX FDS SMALL CP ETF0324,978+324,978077,0132.48%+77,013
BNY MELLON STRATEGIC MUNICIPAL BOND FUND INC0856,403+856,40304,7960.15%+4,796
NUVEEN NAS100 DYN OVERWRT FD(QQQX)01,803,255+1,803,255047,7321.54%+47,732
VANGUARD FTSE PACIFIC ETF339,211348,892+9,68124,57928,6720.92%+4,093
ALLIANCE NATIONAL MUNICIPAL INCOME FUND718,0771,144,987+426,9107,79811,8050.38%+4,006
GABELLI DIVD & INCOME TR COM
COM
1,772,7091,788,008+15,29942,77546,5061.50%+3,731
PELICAN ACQ CRP; TNT ACQ DT: 8/23/2026; CASH: $10.000350,250+350,25003,5130.11%+3,513
CALAMOS GLOBAL DYNAMIC INCOME FUND(CHW)1,346,0311,656,186+310,1558,60111,8090.38%+3,207
ISHARES TR CORE MSCI EURO
CORE MSCI EURO
470,998475,630+4,63228,33131,4871.02%+3,156
ISHARES MSCI CDA ETF150,158199,599+49,4416,1199,2210.30%+3,103
ARMADA CQ CRP UNIT II; TNT ACQ DT: 5/16/2027; CASH: $10.000300,000+300,00003,0630.10%+3,063
VANGUARD WORLD FDS INF TECH ETF
INF TECH ETF
025,630+25,630017,0000.55%+17,000
UY SCUTI ACQ CRP; TNT ACQ DT: 9/30/2026; CASH: $10.000296,561+296,56102,9800.10%+2,980
VANGUARD INDEX FDS TOTAL STK MKT0137,997+137,997041,9411.35%+41,941
LAKESHORE ACQ CRP III; TNT ACQ DT: 7/30/2026; CASH:$10.000273,575+273,57502,7420.09%+2,742
WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT
COM SH BEN INT
7,805,3558,077,278+271,92365,13667,8492.19%+2,713
PLUM ACQ CRP IV; TNT ACQ DT: 7/15/2026; CASH: $10.10450,600685,225+234,6254,5247,0370.23%+2,513
BLACKROCK MUNIYELD QUALITY FUND II85,333348,061+262,7288533,3550.11%+2,502
TAIWAN FD INC COM091,145+91,14504,0840.13%+4,084
BLACKROCK SCIENCE & TECH TR(BST)300,768322,983+22,2159,92212,3280.40%+2,406
NUVEEN AMT-FREE MUNICIPAL CREDIT INCOME FUND(NVG)0235,800+235,80002,8130.09%+2,813
FINANCIAL SELECT SECTOR SPDR
ST STR FINL ETF
374,200398,598+24,39818,63920,8750.67%+2,236
RENATUS TACTICAL ACQ CRP UNIT; TNT ACQ DT: 5/15/2027; CASH: $10.025
UNIT 05/15/2030
0174,350+174,35002,2190.07%+2,219
VANGUARD INTL EQUITY INDEX FD FTSE EUROPE ETF271,231273,082+1,85119,04321,1640.68%+2,121
JPMORGAN BETABUILDERS JAPAN ETF
BETABULDRS JAPAN
0202,251+202,251012,4950.40%+12,495
BLACKROCK MUN INC TRUST II3,952,9894,287,798+334,80941,07243,0491.39%+1,978
PIONEER MUNI HI INC ADV TRST63,579299,040+235,4615312,4820.08%+1,951
MAYWOOD ACQ CRP; TNT ACQ DT: 5/13/2026; CASH: $10.00
ORD SHS CL A
854,7611,030,286+175,5258,47910,4160.34%+1,937
LIBERTY ALL-STAR GROWTH FD03,285,168+3,285,168017,9700.58%+17,970
SIZZLE ACQ CRP II; TNT ACQ DT: 4/2/2027; CASH: $10.000185,983+185,98301,8690.06%+1,869
AGRICULTURE & NATURAL SOLUTIONS ACQ CRP; TNT ACQ DT: 11/10/2025; CASH: $10.00
SHS CL A
01,417,468+1,417,468015,3800.50%+15,380
CHARLTON ASIA ACQ CRP; TNT ACQ DT: 04/24/2026; CASH: $10.0251,423,4921,570,317+146,82514,32016,1430.52%+1,823
GESHER ACQ CRP; TNT ACQ DT: 12/21/2026; CASH: $10.030149,000+149,00001,5120.05%+1,512
AIFEEX NEXUS ACQ CRP; TNT ACQ DT: 3/5/2026; CASH: $10.00902,8251,032,600+129,7759,04610,5120.34%+1,466
EATON VANCE TAX-ADV GLOBAL DIV OPP FUND0644,155+644,155017,5150.56%+17,515
PUTNAM MUNI OPPORTUNITIES(PMO)0231,992+231,99202,2940.07%+2,294
ISHARES BRAZIL ETF136,897165,578+28,6813,5394,7770.15%+1,238
NEWHOLD INVESTMENT ACQ CRP III; TNT ACQ DT: 2/28/2027; CASH: $10.05
ORD SHS CL A
0118,700+118,70001,2070.04%+1,207
PIONEER MUNICIPAL HIGH INCOME TRUST0131,181+131,18101,2020.04%+1,202
BLACKROCK TECHNOLOGY AND PRIVATE EQUITY TERM TRUST(BTX)01,423,101+1,423,101010,4460.34%+10,446
PIMCO CALIFORNIA MUNICIPAL INCOME FUND II0208,395+208,39501,1170.04%+1,117
STELLAR V CAPITAL ACQ CRP; TNT ACQ DT: 6/20/2026; CASH: $10.07
SHS CL A
215,350314,850+99,5002,1513,2020.10%+1,051
BLACKROCK MINVESTMENT QALITY MUNICIPAL TRUST26,327123,531+97,2043021,3490.04%+1,046
SPDR S&P 500 ETF TR TR UNIT(SPY)1,5002,630+1,1308391,6250.05%+786
CO2 ENERGY TRANSITION ACQ CRP; TNT ACQ DT: 5/21/2026; CASH: $10.05721,246783,521+62,2757,1557,8900.25%+735
ISHARES CORE S&P500 ETF0127,960+127,960079,4502.56%+79,450
RANGE CAPITAL ACQ CRP; TNT ACQ DT: 6/20/2026; CASH: $10.05
ORD SHS
236,689294,860+58,1712,3793,0080.10%+629
EATON VANCE MUN BD FD COM07,294,955+7,294,955070,5422.27%+70,542
BLACKROCK MUNIVEST FUND II333,128398,165+65,0373,5214,1090.13%+588
BLACKROCK MUNIYIELD FUND, INC.128,498186,298+57,8001,3561,8700.06%+515
ABERDEEN EMERGING MARKETS EQUITY INCOME FUND INC0521,561+521,56103,0980.10%+3,098
MS CHINA A SHARE617,811619,887+2,0768,0818,5400.28%+459
PIMCO NEW YORK MUNICIPAL FUND III085,987+85,98704510.01%+451
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund(ETW)01,695,491+1,695,491014,6660.47%+14,666
PIMCO MUNICIPAL INCOME FUND III059,773+59,77304100.01%+410
EATON VANCE TAX-ADV DVD INC
COM
0629,393+629,393015,1680.49%+15,168
ALLSPRING GLOBAL DIVIDEND OPPORTUNITY FUND778,373780,541+2,1683,8534,2070.14%+354
PIONEER DIVERSIFIED HIGH INCOME TRUST0920,566+920,566011,5120.37%+11,512
K&F GROWTH ACQ CRP; TNT ACQ DT: 11/05/2026; CASH: $10.05
SHS CL A
1,179,6501,185,425+5,77511,74912,0680.39%+318
CAYSON ACQ CRP; TNT ACQ DT:9/20/2025; CASH: $10.00264,406292,508+28,1022,6973,0070.10%+310
BLACKROCK MUNICIPAL INCOME QUALITY TRUST76,709107,191+30,4828271,1320.04%+305
ORACLE CORP COM(ORCL)03,550+3,55007760.03%+776
VANGUARD TOTAL WORLD STOCK ETF02,015+2,01502590.01%+259
TRIDENT ACQ CORP; TNT ACQ DATE: 11/30/19; CASH $10.20
COM CL A
606,925616,775+9,8506,1186,3340.20%+216
MICROSOFT CORP COM(MSFT)01,700+1,70008460.03%+846
TAVIA ACQ CRP; TNT ACQ DT: 6/4/2026; CASH: $10.052,342,8002,314,827-27,97323,54523,7270.77%+182
CALAMOS STRAT TOT RETURN FD(CSQ)055,333+55,33301,0090.03%+1,009
RIBBON ACQ CRP; TNT ACQ DT: 1/15/2026; CASH: $10.00214,691225,512+10,8212,1432,2840.07%+142
TEMPLETON DRAGON FD INC COM916,056903,273-12,7838,8869,0240.29%+138
CHAMPIONSGATE ACQ CRP; TNT ACQ DT: 11/27/2026; CASH: $10.05012,475+12,47501250.00%+125
BLACKROCK ENH CAP & INC FD INC COM(CII)078,701+78,70101,6800.05%+1,680
CHINA FD INC COM071,172+71,17201,0600.03%+1,060
VIRTUS GLOBAL DIVIDEND & INCOME FUND(ZTR)01,123,948+1,123,94807,0020.23%+7,002
NEW GERMANY FUND(GF)446,429372,882-73,5474,3794,4520.14%+73
SPDR BLOOMBERG 1-3 MONTH T-BILL ETF
ST STR BLO 1 ETF
07,290+7,29006690.02%+669
DISNEY WALT CO COM DISNEY(DIS)02,215+2,21502750.01%+275
ALPHAVEST ACQ CRP; TNT ACQ DT: 12/20/2023; CASH: $10.200261,100+261,10003,0710.10%+3,071
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