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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
+3.58%
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
$1.8B
AUM Growth
+$231M
Cap. Flow
+$169M
Cap. Flow %
9.42%
Top 10 Hldgs %
38.34%
Holding
225
New
35
Increased
110
Reduced
54
Closed
20

Top Buys

Rank Stock Value
1
BDJ icon
BlackRock Enhanced Equity Dividend Trust
BDJ
+$23.7M
2
VKQ icon
Invesco Municipal Trust
VKQ
+$23.4M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$22.5M
4
NZF icon
Nuveen Municipal Credit Income Fund
NZF
+$16.9M
5
NVG icon
Nuveen AMT-Free Municipal Credit Income Fund
NVG
+$16.2M

Top Sells

Rank Stock Value
1
GLD icon
SPDR Gold Trust
GLD
+$46.4M
2
DIA icon
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
+$36.7M
3
TFI icon
State Street SPDR Nuveen ICE Municipal Bond ETF
TFI
+$34.4M
4
SHM icon
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
+$16.4M
5
IGSB icon
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
+$11.5M

Sector Composition

Rank Sector Weight
1 Financials 1.47%
2 Industrials 0.46%
3 Technology 0.08%
4 Energy 0.03%
5 Consumer Staples 0.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VOO icon
1
Vanguard S&P 500 ETF
VOO
$956B
$189M 10.49%
1,115,080
+139,018
+14% +$22.5M
SPY icon
2
State Street SPDR S&P 500 ETF Trust
SPY
$771B
$152M 8.47%
824,590
-39,068
-5% -$6.91M
ACG
3
DELISTED
AllianceBernstein Income Fund Inc
ACG
$82.1M 4.56%
11,512,799
+481,045
+4% +$3.39M
VEA icon
4
Vanguard FTSE Developed Markets ETF
VEA
$223B
$52.6M 2.92%
1,261,625
+21,888
+2% +$888K
VGK icon
5
Vanguard FTSE Europe ETF
VGK
$30.1B
$48.7M 2.71%
827,530
+60,142
+8% +$3.39M
VB icon
6
Vanguard Morningstar Small-Cap ETF
VB
$78.9B
$36.1M 2.01%
328,110
+4,436
+1% +$472K
GAM
7
General American Investors Company
GAM
$1.54B
$34.2M 1.9%
971,928
+186,577
+24% +$6.48M
BDJ icon
8
BlackRock Enhanced Equity Dividend Trust
BDJ
$1.7B
$32M 1.78%
4,034,336
+3,060,694
+314% +$23.7M
ADX icon
9
Adams Diversified Equity Fund
ADX
$3.01B
$31.6M 1.76%
2,419,615
+225,824
+10% +$2.88M
ZTR
10
Virtus Total Return Fund
ZTR
$337M
$31.2M 1.74%
2,239,503
+304,950
+16% +$4.12M
VO icon
11
Vanguard Morningstar Mid-Cap ETF
VO
$106B
$28.7M 1.59%
1,041,960
+11,560
+1% +$308K
IMF
12
DELISTED
WESTERN ASSET INFLATION MTGMT FUND INC. COM
IMF
$27.9M 1.55%
1,647,237
+75,205
+5% +$1.24M
VPL icon
13
Vanguard FTSE Pacific ETF
VPL
$7.77B
$27.8M 1.55%
454,128
+38,366
+9% +$2.35M
TY icon
14
TRI-Continental Corp
TY
$1.84B
$26.5M 1.47%
1,326,192
+186,223
+16% +$3.57M
NZF icon
15
Nuveen Municipal Credit Income Fund
NZF
$2.41B
$26M 1.44%
2,101,405
+1,367,901
+186% +$16.9M
VKQ icon
16
Invesco Municipal Trust
VKQ
$541M
$25.8M 1.43%
2,222,632
+2,041,348
+1,126% +$23.4M
NVG icon
17
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.67B
$25.4M 1.41%
2,028,289
+1,294,846
+177% +$16.2M
NQU
18
DELISTED
NUVEEN QUALITY INCOME MUNI FD
NQU
$24.5M 1.36%
2,002,544
+998,725
+99% +$12.3M
VWO icon
19
Vanguard FTSE Emerging Markets ETF
VWO
$117B
$24.4M 1.35%
591,896
-10,905
-2% -$450K
EWC icon
20
iShares MSCI Canada ETF
EWC
$6.12B
$22.6M 1.26%
776,297
-20,920
-3% -$605K
USA icon
21
Liberty All-Star Equity Fund
USA
$1.78B
$21.1M 1.17%
3,533,463
+329,916
+10% +$1.88M
EZU icon
22
iShare MSCI Eurozone ETF
EZU
$9.38B
$20M 1.11%
483,204
+78,848
+19% +$3.12M
VCSH icon
23
Vanguard Short-Term Corporate Bond ETF
VCSH
$44.7B
$19.1M 1.06%
239,105
-27,500
-10% -$2.2M
FTT
24
DELISTED
FEDERATED ENHANCED TREAS INCM FD COM BEN INTEREST
FTT
$19M 1.06%
1,487,499
+293,953
+25% +$3.79M
EWU icon
25
iShares MSCI United Kingdom ETF
EWU
$4.1B
$18.3M 1.02%
439,340
+10,725
+3% +$432K
1
2 3 4 5

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Karpus Investment Management's Q4 2013 Portfolio in Review

As of Q4 2013, Karpus Investment Management held 225 positions worth $1.8B, up 15% from $1.57B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Karpus Investment Management deployed $169M of net new capital in Q4 2013, opening 35 new positions and adding to 110 existing holdings. Its largest new stake was Eaton Vance Municipal Bond Fund: 1,077,322 shares worth $12.2M.

By sector, the portfolio is most concentrated in Financials at 1.5% of assets, up from 1.3% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was SPDR Gold Trust, an estimated $46.4M trimmed.

  • Karpus Investment Management's largest Q4 2013 buy was Eaton Vance Municipal Bond Fund: 1,077,322 shares worth $12.2M.
  • Karpus Investment Management added most to BlackRock Enhanced Equity Dividend Trust in Q4 2013, an estimated $23.7M increase.
  • Karpus Investment Management's biggest Q4 2013 reduction was SPDR Gold Trust, cutting an estimated $46.4M.
  • Karpus Investment Management fully exited State Street SPDR Nuveen ICE Municipal Bond ETF in Q4 2013, selling an estimated $34.4M.
  • Karpus Investment Management's ten largest holdings make up 38% of its $1.8B portfolio in Q4 2013.
  • Karpus Investment Management opened 35 new positions and closed 20 in Q4 2013.
  • Karpus Investment Management's portfolio value rose 15% quarter-over-quarter to $1.8B.

Based on Karpus Investment Management's 13F filing for Q4 2013, filed 14 Feb 2014.