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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
DTF
201
DTF Tax-Free Income 2028 Term Fund
DTF
$80.9M
$132K ﹤0.01%
+11,535
New +$130K
SPEG
202
Silver Pegasus Acquisition Corp
SPEG
$158M
$125K ﹤0.01%
+12,500
New +$125K
HEQ
203
John Hancock Hedged Equity & Income Fund
HEQ
$140M
$114K ﹤0.01%
10,713
-11,880
-53% -$126K
UCFI
204
CN Healthy Food Tech Group
UCFI
$112K ﹤0.01%
10,775
-618,750
-98% -$6.29M
BDJ icon
205
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.76B
– –
-125,304
Closed -$1.11M
BTZ icon
206
BlackRock Credit Allocation Income Trust
BTZ
$958M
– –
-126,780
Closed -$1.38M
CHN
207
DELISTED
China Fund
CHN
– –
-71,172
Closed -$1.06M
HNW
208
DELISTED
Pioneer Diversified High Income Fund
HNW
– –
-920,566
Closed -$11.5M
HYAC
209
DELISTED
Haymaker Acquisition Corp 4
HYAC
– –
-671,025
Closed -$7.45M
IQI icon
210
Invesco Quality Municipal Securities
IQI
$534M
– –
-453,196
Closed -$4.25M
MAV
211
DELISTED
Pioneer Municipal High Income Advantage Fund
MAV
– –
-299,040
Closed -$2.48M
MHI
212
DELISTED
Pioneer Municipal High Income Fund
MHI
– –
-131,181
Closed -$1.2M
MIO
213
DELISTED
Pioneer Municipal High Income Opportunities Fund
MIO
– –
-496,367
Closed -$5.86M
NAD icon
214
Nuveen Quality Municipal Income Fund
NAD
$2.75B
– –
-85,300
Closed -$963K
NEA icon
215
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.39B
– –
-500,732
Closed -$5.47M
NVG icon
216
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.68B
– –
-235,800
Closed -$2.81M
NXJ
217
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
– –
-29,020
Closed -$329K
NZF icon
218
Nuveen Municipal Credit Income Fund
NZF
$2.42B
– –
-25,203
Closed -$300K
PCK
219
DELISTED
Pimco California Municipal Income Fund II
PCK
– –
-208,395
Closed -$1.12M
PMX
220
DELISTED
PIMCO Municipal Income Fund III
PMX
– –
-59,773
Closed -$410K
PYN
221
DELISTED
PIMCO New York Municipal Income Fund III
PYN
– –
-85,987
Closed -$451K
QUAL icon
222
iShares MSCI USA Quality Factor ETF
QUAL
$48B
– –
-2,285
Closed -$418K
RENE
223
DELISTED
Cartesian Growth Corp II
RENE
– –
-901,719
Closed -$10.8M
RMMZ
224
RiverNorth Managed Duration Municipal Income Fund II
RMMZ
$126M
– –
-74,002
Closed -$1.04M
SHV icon
225
iShares 0-1 Year Treasury Bond ETF
SHV
$20.6B
– –
-6,000
Closed -$663K
6 7 8
9
10

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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.