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KIM

Karpus Investment Management Portfolio holdings

AUM $3.21B
1-Year Est. Return 6.83%
This Fund
S&P 500
This Quarter Est. Return
+3.95%
1 Year Est. Return
+6.83%
3 Year Est. Return
+17.2%
5 Year Est. Return
+12.23%
10 Year Est. Return
+48.47%
AUM
$3.16B
AUM Growth
+$56.4M
Cap. Flow
-$60.2M
Cap. Flow %
-1.91%
Top 10 Hldgs %
32.59%
Holding
232
New
33
Increased
43
Reduced
115
Closed
28

Top Buys

Rank Stock Value
1
BLV icon
Vanguard Long-Term Bond ETF
BLV
+$48.2M
2
VCRM
Vanguard Core Tax-Exempt Bond ETF
VCRM
+$39.3M
3
BTT icon
BlackRock Municipal 2030 Target Term Trust
BTT
+$18.2M
4
MHN
BlackRock MuniHoldings New Yrok Quality Fund
MHN
+$15.1M
5
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$12.4M

Top Sells

Rank Stock Value
1
NRK icon
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
+$55.9M
2
VGM icon
Invesco Trust Investment Grade Municipals
VGM
+$17.3M
3
EIM
Eaton Vance Municipal Bond Fund
EIM
+$16.5M
4
VKQ icon
Invesco Municipal Trust
VKQ
+$15.6M
5
HNW
Pioneer Diversified High Income Fund
HNW
+$11.5M

Sector Composition

Rank Sector Weight
1 Financials 19.96%
2 Industrials 0.61%
3 Technology 0.16%
4 Healthcare 0.02%
5 Energy 0.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCIIU
151
Cohen Circle Acquisition Corp II Unit
CCIIU
$2.16M 0.07%
+210,075
New +$2.15M
ETV
152
Eaton Vance Tax-Managed Buy-Write Opportunities Fund
ETV
$1.77B
$2.13M 0.07%
149,526
-26,594
-15% -$371K
TONT
153
Graf Global Corp
TONT
$153M
$2.1M 0.07%
199,275
-18,750
-9% -$197K
COLA
154
Columbus Acquisition Corp
COLA
$48.2M
$2.06M 0.07%
201,437
– –
JHS
155
John Hancock Income Securities Trust
JHS
$127M
$1.93M 0.06%
165,265
-20
-0% -$229
VTEB icon
156
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46B
$1.92M 0.06%
+38,422
New +$1.89M
SZZL
157
Sizzle Acquisition Corp II
SZZL
$325M
$1.81M 0.06%
179,733
-6,250
-3% -$63K
MUJ icon
158
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$653M
$1.78M 0.06%
153,772
-149,508
-49% -$1.65M
RTACU
159
Renatus Tactical Acquisition Corp I Unit
RTACU
$188M
$1.75M 0.06%
152,794
-21,556
-12% -$258K
SPY icon
160
State Street SPDR S&P 500 ETF Trust
SPY
$807B
$1.69M 0.05%
2,530
-100
-4% -$64.1K
PACH
161
Pioneer Acquisition I Corp
PACH
$293M
$1.59M 0.05%
+160,000
New +$1.59M
GTERA
162
Globa Terra Acquisition Corp
GTERA
$246M
$1.53M 0.05%
+153,577
New +$1.53M
BDCIU
163
BTC Development Corp Unit
BDCIU
$232M
$1.51M 0.05%
+150,000
New +$1.51M
GSHR
164
Gesher Acquisition Corp II
GSHR
$215M
$1.51M 0.05%
149,000
– –
CCAQ
165
Collective Acquisition Corp
CCAQ
$213M
$1.48M 0.05%
+146,000
New +$1.47M
BKN
166
DELISTED
BlackRock Investment Quality Municipal Trust
BKN
$1.4M 0.04%
123,531
– –
MRLN
167
Merlin Inc
MRLN
$426M
$1.28M 0.04%
122,880
-71,500
-37% -$740K
SWZ
168
Swiss Helvetia Fund
SWZ
$77.1M
$1.26M 0.04%
206,753
-30,592
-13% -$188K
CHPG
169
ChampionsGate Acquisition Corp
CHPG
$104M
$1.2M 0.04%
119,680
+107,205
+859% +$1.08M
KCHV
170
Kochav Defense Acquisition Corp
KCHV
$357M
$1.15M 0.04%
+114,987
New +$1.15M
NHIC
171
NewHold Investment Corp III
NHIC
$294M
$1.1M 0.03%
107,600
-11,100
-9% -$113K
BYM
172
DELISTED
BlackRock Municipal Income Quality Trust
BYM
$1.09M 0.03%
99,391
-7,800
-7% -$82.7K
AEF
173
abrdn Emerging Markets Equity Income Fund
AEF
$371M
$1.05M 0.03%
161,906
-359,655
-69% -$2.21M
INAC
174
Indigo Acquisition Corp
INAC
$152M
$1.05M 0.03%
+105,050
New +$1.05M
CII icon
175
BlackRock Enhanced Captial and Income Fund
CII
$1.01B
$998K 0.03%
43,410
-35,291
-45% -$776K
5 6
7
8 9

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Karpus Investment Management's Q3 2025 Portfolio in Review

As of Q3 2025, Karpus Investment Management held 232 positions worth $3.16B, up 1.8% from $3.1B the previous quarter. Its ten largest holdings account for 33% of the portfolio.

Karpus Investment Management's Q3 2025 filing shows 33 new, 43 increased, 115 reduced and 28 closed positions. Its largest new stake was Vanguard Core Tax-Exempt Bond ETF: 533,467 shares worth $40.1M. The largest sale was Nuveen New York AMT-Free Quality Municipal Income Fund, an estimated $55.9M.

By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 21% a quarter earlier, followed by Industrials and Technology.

  • Karpus Investment Management's largest Q3 2025 buy was Vanguard Core Tax-Exempt Bond ETF: 533,467 shares worth $40.1M.
  • Karpus Investment Management added most to Vanguard Long-Term Bond ETF in Q3 2025, an estimated $48.2M increase.
  • Karpus Investment Management's biggest Q3 2025 reduction was Nuveen New York AMT-Free Quality Municipal Income Fund, cutting an estimated $55.9M.
  • Karpus Investment Management fully exited Invesco Trust Investment Grade Municipals in Q3 2025, selling an estimated $17.3M.
  • Karpus Investment Management's ten largest holdings make up 33% of its $3.16B portfolio in Q3 2025.
  • Karpus Investment Management opened 33 new positions and closed 28 in Q3 2025.
  • Karpus Investment Management's portfolio value rose 1.8% quarter-over-quarter to $3.16B.

Based on Karpus Investment Management's 13F filing for Q3 2025, filed 14 Nov 2025.