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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
+0.92%
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
$3.26B
AUM Growth
+$98.6M
Cap. Flow
+$65M
Cap. Flow %
2%
Top 10 Hldgs %
31.9%
Holding
238
New
34
Increased
74
Reduced
91
Closed
24

Top Buys

Rank Stock Value
1
BLV icon
Vanguard Long-Term Bond ETF
BLV
+$24M
2
CSQ icon
Calamos Strategic Total Return Fund
CSQ
+$22.7M
3
LKSP
Lake Superior Acquisition Corp
LKSP
+$17.7M
4
BKT icon
BlackRock Income Trust
BKT
+$17.4M
5
MHD icon
BlackRock MuniHoldings Fund
MHD
+$15.6M

Top Sells

Rank Stock Value
1
NRK icon
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
+$52.3M
2
IBAC
IB Acquisition Corp
IBAC
+$27.2M
3
SHM icon
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
+$23.9M
4
AFJK
Aimei Health Technology Co
AFJK
+$20.7M
5
EIM
Eaton Vance Municipal Bond Fund
EIM
+$20.6M

Sector Composition

Rank Sector Weight
1 Financials 22.4%
2 Consumer Staples 0.2%
3 Technology 0.06%
4 Healthcare 0.04%
5 Energy 0.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BFZ
151
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$3.07M 0.09%
+285,799
New +$3.11M
UYSC
152
UY Scuti Acquisition Corp
UYSC
$3.06M 0.09%
298,856
-9,855
-3% -$100K
SVCC
153
Stellar V Capital Corp
SVCC
$230M
$3.06M 0.09%
295,500
-1,800
-0.6% -$18.7K
CAPN
154
Cayson Acquisition Corp
CAPN
$3.02M 0.09%
284,189
-1,352
-0.5% -$14.3K
SDHI
155
Siddhi Acquisition Corp
SDHI
$365M
$2.78M 0.09%
270,650
– –
RANG
156
Range Capital Acquisition Corp
RANG
$23.2M
$2.77M 0.09%
265,540
-19,020
-7% -$199K
SOCA
157
Solarius Capital Acquisition Corp
SOCA
$242M
$2.7M 0.08%
268,615
+193,000
+255% +$1.95M
BLUW
158
Blue Water Acquisition Corp III
BLUW
$334M
$2.68M 0.08%
259,820
+161,650
+165% +$1.64M
LPBB
159
Launch Two Acquisition Corp
LPBB
$310M
$2.68M 0.08%
255,750
– –
POLE
160
Andretti Acquisition Corp II
POLE
$319M
$2.51M 0.08%
238,950
-5,000
-2% -$52.8K
RIBB
161
Ribbon Acquisition Corp
RIBB
$2.27M 0.07%
218,287
-7,000
-3% -$72.2K
TONT
162
Graf Global Corp
TONT
$153M
$2.1M 0.06%
195,400
-3,875
-2% -$41.4K
KIO
163
KKR Income Opportunities Fund
KIO
$460M
$2.03M 0.06%
175,388
-26,532
-13% -$314K
CCIIU
164
Cohen Circle Acquisition Corp II Unit
CCIIU
$1.83M 0.06%
175,150
-34,925
-17% -$364K
SZZL
165
Sizzle Acquisition Corp II
SZZL
$325M
$1.83M 0.06%
179,733
– –
IGI
166
Western Asset Investment Grade Defined Opportunity Trust
IGI
$94.8M
$1.81M 0.06%
+109,933
New +$1.82M
BSAA
167
BEST SPAC I Acquisition Corp
BSAA
$84.1M
$1.73M 0.05%
171,195
+106,500
+165% +$1.08M
PMO
168
Franklin Municipal Opportunities Trust
PMO
$284M
$1.73M 0.05%
161,566
-94,926
-37% -$987K
VTEB icon
169
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46B
$1.71M 0.05%
33,922
-4,500
-12% -$226K
SPY icon
170
State Street SPDR S&P 500 ETF Trust
SPY
$807B
$1.63M 0.05%
2,390
-140
-6% -$94.6K
RTACU
171
Renatus Tactical Acquisition Corp I Unit
RTACU
$188M
$1.61M 0.05%
145,494
-7,300
-5% -$83.7K
GSHR
172
Gesher Acquisition Corp II
GSHR
$1.53M 0.05%
149,000
– –
CCAQ
173
Collective Acquisition Corp
CCAQ
$213M
$1.49M 0.05%
146,000
– –
BDCIU
174
BTC Development Corp Unit
BDCIU
$232M
$1.49M 0.05%
146,650
-3,350
-2% -$34.4K
CHPG
175
ChampionsGate Acquisition Corp
CHPG
$104M
$1.41M 0.04%
137,980
+18,300
+15% +$186K
5 6
7
8 9

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Karpus Investment Management's Q4 2025 Portfolio in Review

As of Q4 2025, Karpus Investment Management held 238 positions worth $3.26B, up 3.1% from $3.16B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Karpus Investment Management's Q4 2025 filing shows 34 new, 74 increased, 91 reduced and 24 closed positions. Its largest new stake was Lake Superior Acquisition Corp: 1,782,358 shares worth $17.7M. The largest sale was Nuveen New York AMT-Free Quality Municipal Income Fund, an estimated $52.3M.

By sector, the portfolio is most concentrated in Financials at 22% of assets, up from 20% a quarter earlier, followed by Consumer Staples and Technology.

  • Karpus Investment Management's largest Q4 2025 buy was Lake Superior Acquisition Corp: 1,782,358 shares worth $17.7M.
  • Karpus Investment Management added most to Vanguard Long-Term Bond ETF in Q4 2025, an estimated $24M increase.
  • Karpus Investment Management's biggest Q4 2025 reduction was Nuveen New York AMT-Free Quality Municipal Income Fund, cutting an estimated $52.3M.
  • Karpus Investment Management fully exited IB Acquisition Corp in Q4 2025, selling an estimated $27.2M.
  • Karpus Investment Management's ten largest holdings make up 32% of its $3.26B portfolio in Q4 2025.
  • Karpus Investment Management opened 34 new positions and closed 24 in Q4 2025.
  • Karpus Investment Management's portfolio value rose 3.1% quarter-over-quarter to $3.26B.

Based on Karpus Investment Management's 13F filing for Q4 2025, filed 13 Feb 2026.