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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
VOO icon
1
Vanguard S&P 500 ETF
VOO
$979B
$272M 8.6%
443,512
-13,490
-3% -$7.95M
BLV icon
2
Vanguard Long-Term Bond ETF
BLV
$5.71B
$115M 3.65%
1,625,433
+694,179
+75% +$48.2M
BTT icon
3
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
$99M 3.14%
4,407,881
+820,002
+23% +$18.2M
NRK icon
4
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$901M
$88.7M 2.81%
8,699,281
-5,788,715
-40% -$55.9M
MHD icon
5
BlackRock MuniHoldings Fund
MHD
$598M
$84.1M 2.66%
7,157,298
-26,757
-0.4% -$302K
VB icon
6
Vanguard Morningstar Small-Cap ETF
VB
$79.5B
$83.9M 2.66%
329,883
+4,905
+2% +$1.22M
IVV icon
7
iShares Core S&P 500 ETF
IVV
$878B
$83.6M 2.65%
124,938
-3,022
-2% -$1.95M
FINS
8
Angel Oak Financial Strategies Income Term Trust
FINS
$418M
$69.7M 2.21%
5,313,982
-217,353
-4% -$2.85M
VWO icon
9
Vanguard FTSE Emerging Markets ETF
VWO
$121B
$67.2M 2.13%
1,239,543
+16,371
+1% +$843K
WIA
10
Western Asset Inflation-Linked Income Fund
WIA
$185M
$66.1M 2.09%
7,846,936
-230,342
-3% -$1.93M
AAM
11
DELISTED
AA Mission Acquisition Corp
AAM
$61.2M 1.94%
5,815,100
-187,384
-3% -$1.96M
MVF
12
DELISTED
BlackRock MuniVest Fund
MVF
$57.2M 1.81%
8,343,979
-730,257
-8% -$4.87M
EIM
13
Eaton Vance Municipal Bond Fund
EIM
$491M
$55.6M 1.76%
5,595,362
-1,699,593
-23% -$16.5M
VEU icon
14
Vanguard FTSE All-World ex-US ETF
VEU
$66.6B
$53M 1.68%
742,033
+102,639
+16% +$7.08M
MUC icon
15
BlackRock MuniHoldings California Quality Fund
MUC
$996M
$51.6M 1.64%
4,758,154
+98,928
+2% +$1.03M
NBXG
16
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.16B
$49.2M 1.56%
3,200,555
-426,446
-12% -$6.32M
GDV icon
17
Gabelli Dividend & Income Trust
GDV
$2.6B
$47.4M 1.5%
1,746,094
-41,914
-2% -$1.12M
QQQX icon
18
Nuveen NASDAQ 100 Dynamic Overwrite Fund
QQQX
$1.44B
$47.3M 1.5%
1,722,190
-81,065
-4% -$2.17M
BLE
19
DELISTED
BlackRock Municipal Income Trust II
BLE
$46.3M 1.46%
4,426,402
+138,604
+3% +$1.39M
BFK
20
DELISTED
BlackRock Municipal Income Trust
BFK
$45.1M 1.43%
4,489,500
-15,036
-0.3% -$146K
VTI icon
21
Vanguard Morningstar Total Stock Market ETF
VTI
$660B
$43.9M 1.39%
133,852
-4,145
-3% -$1.31M
SHM icon
22
State Street SPDR Nuveen ICE Short Term Municipal Bond ETF
SHM
$3.46B
$43.2M 1.37%
896,907
-21,593
-2% -$1.04M
IEF icon
23
iShares 7-10 Year Treasury Bond ETF
IEF
$47.1B
$42.8M 1.36%
443,638
+129,669
+41% +$12.4M
VCRM
24
Vanguard Core Tax-Exempt Bond ETF
VCRM
$1.68B
$40.1M 1.27%
+533,467
New +$39.3M
BND icon
25
Vanguard Total Bond Market
BND
$157B
$37.3M 1.18%
501,916
+149,305
+42% +$11M
1
2 3 4 5

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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.