Fund Holdings — Karpus Management, Inc.

Total Portfolio Value:
$3.75B
Total Bought:
$909.36M
Total Sold:
$331.31M
Net Transaction:
+$578.05M
Securities
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SharesValue
Q3 2025
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Q4 2025
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Change
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Q3 2025
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Q4 2025
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Weight (%)
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Change
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Vanguard Index Fds S&p 500 Etf ShS P 500 ETF SHS443,512422,908-20,604$271.60M$265.22M7.08%-$6.38M
Vanguard Bd Index Fd Inc Long Term BondLONG TERM BOND1,625,4331,964,668+339,235$115.16M$136.58M3.65%+$21.42M
Blackrock Municipal 2030 Target Term TrustCOM SHS BEN IN(BTT)4,407,8814,618,725+210,844$99.00M$105.40M2.81%+$6.40M
BlackRock MuniHoldings Fund, Inc.(MHD)7,157,2988,490,550+1,333,252$84.10M$99.68M2.66%+$15.58M
Vanguard Index Fds Small Cp EtfSMALL CP ETF329,883334,706+4,823$83.88M$86.34M2.31%+$2.45M
Ishares Core S&p500 EtfCORE S P500 ETF124,938105,868-19,070$83.62M$72.51M1.94%-$11.11M
Vanguard Intl Equity Index Fd Ftse Emr Mkt EtfFTSE Emerging Markets ETF1,239,5431,294,118+54,575$67.16M$69.57M1.86%+$2.41M
Angel Oak Financial Strategies Income Term TrustCOM BEN INT(FINS)5,313,9825,151,041-162,941$69.67M$68.05M1.82%-$1.62M
Vanguard Intl Equity Index Fd Allwrld Ex UsALLWRLD EX US742,033923,254+181,221$52.96M$67.91M1.81%+$14.96M
Western Asset Clym Infl Sec In Com Sh Ben IntCOM SH BEN INT
COM SH BEN INT
7,846,9368,143,596+296,660$66.07M$67.35M1.80%+$1.28M
EAGLE POINT CREDIT 7.75 percent DUE 06/30/2030PREFERRED02,573,963+2,573,963$0$64.61M1.73%+$64.61M
Aa Mission Acq Crp; Tnt Acq Dt: 8/1/2026; Cash: $10.05CL A5,815,1005,717,512-97,588$61.17M$61.01M1.63%-$169.0K
Blackrock Munivest Fund8,343,9798,350,955+6,976$57.24M$57.87M1.55%+$632.4K
BlackRock MuniHoldings California Quality Fund, Inc.(MUC)4,758,1545,389,509+631,355$51.63M$57.13M1.53%+$5.50M
Blackrock Mun Inc Trust Ii4,426,4024,897,546+471,144$46.26M$51.13M1.37%+$4.87M
Blackrock Municipal Income TrustSH BEN INT4,489,5004,953,591+464,091$45.12M$49.68M1.33%+$4.57M
Vanguard Bd Index Fd Inc Total Bnd MrktTotal Bond Market501,916665,035+163,119$37.33M$49.26M1.32%+$11.93M
Nuveen Nasdaq 100 Dynamic Overwrite Fund(QQQX)1,722,1901,670,779-51,411$47.29M$47.65M1.27%+$359.3K
Gabelli Divd & Income Tr Com
COM
1,746,0941,651,516-94,578$47.37M$45.86M1.22%-$1.51M
Ishares Lehman 7-10yr Treas7 10 YR TRSY BD443,638476,221+32,583$42.79M$45.79M1.22%+$3.00M
Neuberger Berman Income Funds - Neuberger Next Generation Connectivity Fund Inc.(NBXG)3,200,5553,075,844-124,711$49.22M$44.42M1.19%-$4.81M
Vanguard Core Tax Exempt Bond EtfCORE TAX EXEMPT533,467554,144+20,677$40.14M$41.88M1.12%+$1.73M
Blackrock Muniholdings New York Quality Fund Inc3,592,7423,663,762+71,020$36.72M$37.48M1.00%+$762.5K
Legato Acq Crp Iii; Tnt Acq Dt: 2/08/2026; Cash: $10.003,373,9793,333,541-40,438$36.24M$36.27M0.97%+$32.4K
Nuveen New York AMT-Free Quality Municipal Income Fund(NRK)8,699,2813,536,744-5,162,537$88.73M$35.69M0.95%-$53.05M
Vanguard Growth EtfGROWTH ETF71,80372,958+1,155$34.44M$35.59M0.95%+$1.16M
Ishares Tr Core Msci EuroCore MSCI Europe
CORE MSCI EURO
484,802488,052+3,250$33.02M$34.64M0.92%+$1.62M
Vanguard Ftse Pacific EtfFTSE PACIFIC ETF379,616379,849+233$33.35M$34.34M0.92%+$992.9K
Eaton Vance Municipal Bond Fund(EIM)5,595,3623,506,586-2,088,776$55.62M$34.12M0.91%-$21.50M
DWS Municipal Income Trust(KTF)3,300,8343,715,549+414,715$30.27M$33.77M0.90%+$3.51M
OFS Capital CorporationPREFERRED(OFS)01,259,030+1,259,030$0$32.33M0.86%+$32.33M
Ishares Russell 1000 EtfRUS 1000 ETF85,77784,998-779$31.35M$31.74M0.85%+$391.9K
Vanguard Index Fds Total Stk MktTotal Stock Market133,85294,356-39,496$43.93M$31.63M0.84%-$12.29M
SOUND POINT MERIDIAN CAPITAL 7.875 percent DUE 7/31/2030PREFERRED01,232,329+1,232,329$0$31.10M0.83%+$31.10M
Vanguard Short-Term Tax-Exempt Bond EtfSHORT TRM TAX EX300,250262,800-37,450$30.60M$26.69M0.71%-$3.91M
Drugs Made In America Acq Crp: 4/28/2026; Cash: $10.05
ORD SHS
2,547,6672,538,642-9,025$26.16M$26.33M0.70%+$161.2K
Calamos Strategic Total Return FundCOM SH BEN INT(CSQ)152,6741,345,804+1,193,130$2.95M$25.84M0.69%+$22.89M
RF Acquisition Corp IISHS(RFAI)2,405,5832,397,033-8,550$25.84M$25.72M0.69%-$115.8K
SARATOGA INVESTMENT CORP 6.00 percent DUE 04/30/2027PREFERRED01,014,297+1,014,297$0$25.11M0.67%+$25.11M
GP-Act III Acquisition Corp.CL A(GPAT)2,306,8162,331,866+25,050$24.45M$24.93M0.67%+$475.4K
Blackrock Muniyield New York Quality Fund Inc2,548,1102,455,847-92,263$25.30M$24.34M0.65%-$965.3K
Quartzsea Acquisition Corporati(QSEA)2,276,3802,263,880-12,500$23.06M$23.16M0.62%+$99.8K
Vanguard Intl Equity Index Fd Ftse Europe EtfFTSE EUROPE ETF272,924275,400+2,476$21.78M$23.03M0.61%+$1.25M
Tavia Acquisition Corp.SHS(TAVI)2,202,5022,193,702-8,800$22.80M$22.88M0.61%+$84.4K
OXFORD SQUARE CAPITAL CORP 7.75 percent DUE 7/31/2030PREFERRED0867,122+867,122$0$22.09M0.59%+$22.09M
BlackRock Science and Technology TrustSHS(BST)361,100543,547+182,447$14.94M$22.04M0.59%+$7.10M
Financial Select Sector SpdrSTATE STREET FIN
ST STR FINL ETF
398,212399,770+1,558$21.45M$21.90M0.58%+$443.7K
Oxford Lane Capital Corp.PREFERRED(OXLC)0853,683+853,683$0$21.57M0.58%+$21.57M
BlackRock Income Trust, Inc.(BKT)291,3651,861,660+1,570,295$3.27M$20.55M0.55%+$17.28M
Spdr Ser Tr Nuvn Br Sht MuniSTATE STREET SPD
ST NUVE TERM ETF
896,907398,706-498,201$43.25M$19.13M0.51%-$24.11M
Agriculture & Natural Solutions Acq Crp; Tnt Acq Dt: 11/10/2025; Cash: $10.00CL A
SHS CL A
1,339,6181,685,893+346,275$14.62M$18.87M0.50%+$4.25M
Vanguard World Fds Inf Tech EtfINF TECH ETF
INF TECH ETF
25,50224,977-525$19.04M$18.83M0.50%-$213.4K
Liberty All-Star Growth Fund, Inc.(ASG)3,352,4383,517,079+164,641$18.61M$18.64M0.50%+$34.5K
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund(ETO)624,947612,728-12,219$17.22M$18.60M0.50%+$1.37M
SIM Acquisition Corp. ICL A(SIMA)1,768,7671,735,497-33,270$18.64M$18.38M0.49%-$263.9K
Blackrock Core Bd Tr Shs Ben IntSHS BEN INT1,937,1091,883,365-53,744$19.25M$18.06M0.48%-$1.19M
Lake Superior Acquisition Corp.CL A(LKSP)01,782,358+1,782,358$0$17.68M0.47%+$17.68M
Blackrock New York Municipal Income TrustSH BEN INT683,9761,653,365+969,389$6.92M$16.77M0.45%+$9.84M
Alliance National Municipal Income Fund1,281,8341,539,698+257,864$13.91M$16.66M0.44%+$2.75M
OXFORD LANE CAPITAL CORP, 5 percent, DUE 1/31/2027PREFERRED0669,336+669,336$0$16.31M0.44%+$16.31M
Copley Acquisition CorpCL A(COPL)1,359,8281,535,003+175,175$13.75M$15.66M0.42%+$1.91M
Ishares Msci Cda EtfMSCI Canada ETF269,534286,858+17,324$13.62M$15.47M0.41%+$1.85M
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund(ETW)1,670,2341,635,014-35,220$15.12M$15.07M0.40%-$40.8K
NEWTEK BUSINESS SERVICES 5.5 percent DUE 2/1/2026PREFERRED0595,191+595,191$0$14.99M0.40%+$14.99M
Jpmorgan Betabuilders Japan EtfBETABULDRS JAPAN
BETABULDRS JAPAN
229,681226,543-3,138$15.23M$14.93M0.40%-$301.0K
Charlton Aria Acquisition CorporationCL A(CHAR)1,443,0291,423,967-19,062$14.95M$14.89M0.40%-$55.1K
GREAT ELM CAPITAL CORP 5 7/8 percent DUE 6/30/2026PREFERRED0592,725+592,725$0$14.82M0.40%+$14.82M
TERRA INCOME 6 7 percent DUE 3/31/2026PREFERRED0594,051+594,051$0$14.78M0.39%+$14.78M
Blackrock Enhanced International Dividend TrustCOM BENE INTER3,115,1502,513,036-602,114$17.91M$14.78M0.39%-$3.14M
OXFORD LANE CAPITAL CORP. 7.125 percent 6/30/2029PREFERRED0603,268+603,268$0$14.66M0.39%+$14.66M
Pacer Global Cash Cows DividendGLOBL CASH ETF
GLOBL CASH ETF
336,447353,352+16,905$13.33M$14.57M0.39%+$1.24M
Calamos Global Dynamic Income Fund(CHW)1,665,7581,941,888+276,130$12.56M$14.39M0.38%+$1.83M
Keen Vision Acquisition CorporationSHS(KVACF)1,235,4601,224,460-11,000$14.22M$14.39M0.38%+$167.1K
Blackrock Enhanced Global Dividend Trust1,484,7521,222,780-261,972$17.18M$14.32M0.38%-$2.86M
Eaton Vance Tax-Man Global Equity Fund
COM
1,535,4381,467,837-67,601$13.97M$13.99M0.37%+$16.0K
K&f Growth Acq Crp; Tnt Acq Dt: 11/05/2026; Cash: $10.05CL A
SHS CL A
1,146,4501,328,387+181,937$11.71M$13.71M0.37%+$2.00M
Pimco California Municipal Inc
COM
1,371,2021,554,343+183,141$11.96M$13.57M0.36%+$1.61M
GLADSTONE INVESTMENT CORP 5 percent DUE 5/1/2026PREFERRED0537,845+537,845$0$13.53M0.36%+$13.53M
Ishares Emu EtfMSCI Eurozone ETF193,297210,019+16,722$11.97M$13.46M0.36%+$1.49M
Ai Infrastructure Acq Crp; Tnt Acq Dt: 4/3/2027; Cash: $10.00CL A
ORD SHS CL A
01,241,923+1,241,923$0$12.34M0.33%+$12.34M
GLADSTONE INVESTMENT CORP 7.875 percent 02/01/2023PREFERRED0480,025+480,025$0$12.31M0.33%+$12.31M
McKinley Acquisition CorporationCL A(MKLY)01,226,785+1,226,785$0$12.23M0.33%+$12.23M
Melar Acq Crp; Tnt Acq Dt: 6/18/2025; Cash: $10.00CL A
SHS CL A
1,146,6551,145,155-1,500$12.04M$12.17M0.33%+$133.1K
OXFORD LANE CAPITAL CORP 6 percent DUE 8/31/2029PREFERRED0516,391+516,391$0$12.09M0.32%+$12.09M
GREAT ELM CAPITAL CORP 7.75 percent DUE 12/31/2030PREFERRED0480,605+480,605$0$12.03M0.32%+$12.03M
Launch One Acquisition Corp.CL A(LPAA)1,186,7501,115,800-70,950$12.46M$11.82M0.32%-$644.6K
Liberty All-Star Equity FundSH BEN INT(USA)01,830,510+1,830,510$0$11.50M0.31%+$11.50M
Aberdeen Intermediate Income FundSH BEN INT(MIN)4,639,6744,385,724-253,950$12.43M$11.45M0.31%-$987.6K
Lionheart HoldingsCL A(CUB)1,113,1751,076,675-36,500$11.70M$11.45M0.31%-$254.3K
OFS CAPITAL CORP 4.95 percent DUE 10/31/2028PREFERRED0479,881+479,881$0$11.37M0.30%+$11.37M
Drugs Made In America Acq Crp Ii; Tnt Acq Dt: 9/25/2027; Cash: $10.00USD ORD SHS
USD ORD SHS
01,143,625+1,143,625$0$11.32M0.30%+$11.32M
OFS CREDIT CO 5.25 percent DUE 12/31/2026PREFERRED0452,345+452,345$0$11.17M0.30%+$11.17M
Eaton Vance Tax-Adv Dvd Inc
COM
612,942430,276-182,666$14.99M$10.83M0.29%-$4.15M
Eagle Point Credit CompanyPREFERRED(ECC)0443,719+443,719$0$10.60M0.28%+$10.60M
Inflection Point Acquisition Corp. VCL A
ORD SHS CL A
1,024,7631,016,543-8,220$10.49M$10.45M0.28%-$43.5K
SOUND POINT MERIDIAN CAPITAL, INC. 8 percent 11/30/2029PREFERRED0402,904+402,904$0$10.15M0.27%+$10.15M
Ms China A Share606,287556,731-49,556$10.09M$9.66M0.26%-$429.8K
Globa Terra Acq Crp; Tnt Acq Dt: 10/08/2026; Cash: $10.00CL A
CL A ORD SHS
153,577956,762+803,185$1.53M$9.66M0.26%+$8.13M
Templeton Dragon Fund, Inc.(TDF)865,720855,995-9,725$10.09M$9.64M0.26%-$447.1K
Eaton Vance Tax-Adv Global Div Income Fund613,194417,229-195,965$12.96M$9.64M0.26%-$3.32M
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Karpus Management, Inc. — 13F Holdings — Q4 2025 | TickerTrail