Q2 2026 13F · SEC CIK 1048703

Karpus Management, Inc.

Wealth managerFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $3.5B
Reported positions: 233
Top holdings a year, 3 yrs: +7.2%
Assets under management: $4.3B

Karpus Management, Inc. is a wealth manager that reported 233 positions worth $3.5B in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Vanguard Index Fds (VOO, 7.2%), Blackrock Muniholdings Fd in (MHD, 6.8%), Vanguard Bd Index Fds (BLV, 4.2%). A portfolio copying its top holdings returned 7.2% a year over the last 3 years, against 20.4% for the S&P 500.

Karpus Management, Inc. holdings largest 50 of 233 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Karpus Management, Inc. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
VOOVanguard Index Fds	7.2%	7.3%	366,496	-6.7%	$251.7M
MHDBlackrock Muniholdings Fd in	6.8%	7.0%	19,816,954	-1.1%	$235.8M
BLVVanguard Bd Index Fds	4.2%	4.2%	2,132,736	+8.2%	$147.0M
BTTBlackrock Mun Target Term Tr	3.0%	3.3%	4,641,247	-1.0%	$105.6M
VBVanguard Index Fds	2.8%	2.6%	319,556	-0.7%	$96.9M
MYNBlackrock Muniyield N Y Qual	2.3%	2.4%	7,938,637	-2.7%	$80.6M
VWOVanguard Intl Equity Index F	2.2%	2.2%	1,294,280	-2.1%	$77.3M
VEUVanguard Intl Equity Index F	2.2%	2.3%	911,846	-6.6%	$76.4M
TLTIshares Tr	2.2%	0.7%	882,953	+222.9%	$76.3M
WIAWestern Asset Inflt Lnk Inc	2.0%	2.1%	8,648,798	+3.6%	$70.3M
MYIBlackrock Muniyield Quality	1.7%	1.9%	5,442,103	-4.1%	$60.5M
IVVIshares Tr	1.7%	1.9%	80,591	-11.2%	$60.4M
FINSAngel Oak Finl Strategies Incm Com Ben I	1.7%	1.9%	4,654,677	-0.9%	$59.6M
MUCBlackrock Munihldngs Cali Ql	1.5%	1.7%	4,603,531	-14.4%	$50.6M
NBXGNeuberger Next Generation	1.4%	1.2%	2,981,177	-2.9%	$49.3M
VCRMVanguard Mun Bd Fds	1.3%	1.4%	613,630	+4.0%	$46.9M
GDVGabelli Divid & Income Tr Com	1.2%	1.3%	1,444,270	-3.7%	$42.5M
CSQCalamos Strategic Total Retu	1.2%	1.0%	2,052,204	+5.5%	$42.2M
QQQXNuveen Nasdaq 100 Dynamic Ov	1.2%	1.4%	1,393,850	-14.9%	$42.0M
BNDVanguard Bd Index Fds	1.2%	0.8%	565,055	+61.6%	$41.5M
AFBAlliancebernstein Natl Mun I	1.2%	0.9%	3,603,262	+41.1%	$41.1M
VPLVanguard Intl Equity Index F	1.1%	1.1%	337,048	-8.4%	$39.0M
IEURIshares Core Msci Europeetf	1.0%	1.1%	481,445	-2.3%	$36.2M
BSTBlackrock Science & Technolo	0.9%	0.6%	639,482	+13.6%	$32.4M
IEFIshares Tr	0.9%	—	331,612	—	$31.4M
IWBIshares Tr	0.9%	0.9%	74,490	-12.5%	$30.5M
SCIISC II Acquisition Corp	0.8%	0.9%	2,942,837	-2.8%	$29.5M
DMIIDrugs Made in America Acquisition II Cor	0.8%	0.8%	2,787,998	+7.3%	$28.0M
MQYBlackrock Muniyild Qult Fd I	0.8%	0.9%	2,414,908	-7.7%	$28.0M
DMAADrugs Made in Amer Acqutn Co	0.8%	0.8%	2,507,817	-0.9%	$26.7M
AACPApogee Acquisition Corp	0.8%	—	2,648,075	—	$26.3M
VTIVanguard Index Fds	0.7%	0.8%	68,670	-14.9%	$25.4M
KTFDws Mun Income Tr New	0.7%	0.9%	2,760,957	-16.1%	$25.4M
VGKVanguard Ftse Europe ETF	0.7%	0.7%	283,483	-1.9%	$25.1M
ASGLiberty All-Star Growth Fd I	0.7%	0.6%	4,548,670	+7.8%	$24.9M
CHWCalamos Gbl Dyn Income Fund	0.6%	—	2,460,540	—	$21.9M
XLFSelect Sector Spdr Tr	0.6%	0.6%	405,788	+0.0%	$21.8M
ETOEaton Vance Tax-Advantaged G	0.6%	—	699,132	—	$21.6M
AIIAAi Infrastructure Acquisi	0.6%	0.6%	2,009,049	-2.8%	$20.6M
TAVITavia Acq Crp; Tnt Acq Dt: 6/4/2026; Cas	0.6%	0.7%	1,893,627	-13.0%	$20.2M
BKTBlackrock Inc	0.6%	0.6%	1,828,427	-1.2%	$19.6M
EZUIshares Inc	0.6%	0.5%	278,697	-0.6%	$19.4M
VGTVanguard World Fd	0.6%	—	161,378	—	$19.3M
USALiberty All Star Equity Fd	0.5%	0.5%	3,271,867	+5.0%	$19.0M
MKLYMckinley Acquisition Corp	0.5%	0.6%	1,825,871	-4.1%	$18.5M
ANSCAgriculture & Nat Sol Acq Co	0.5%	0.6%	1,613,968	-2.9%	$18.4M
EWCIshares Inc	0.5%	0.5%	317,284	+1.0%	$18.3M
PCQPimco Calif Mun Income Fd	0.5%	—	2,031,479	—	$18.2M
GCOWPacer Global Cash Cows Dividend ETF	0.5%	0.6%	413,372	+5.5%	$17.9M
RFAIRf Acquisition Corp II	0.5%	0.6%	1,619,533	-1.3%	$17.9M

What Karpus Management, Inc. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +9.8% /yr; S&P 500 +20.1%
3 years: +7.2% /yr; S&P 500 +20.4%
5 years: +0.6% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$3.5B	233
Q1 2026	$3.2B	231
Q4 2025	$3.3B	214
Q3 2025	$3.2B	204
Q2 2025	$3.1B	199
Q1 2025	$3.1B	202
Q4 2024	$3.4B	205
Q3 2024	$3.6B	220
Q2 2024	$3.6B	230
Q1 2024	$3.5B	239
Q4 2023	$3.3B	257
Q3 2023	$3.0B	275

Questions about Karpus Management, Inc.'s portfolio

What stocks does Karpus Management, Inc. own?

Karpus Management, Inc.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 233 positions worth $3.5B. The largest are Vanguard Index Fds (VOO) at 7.2%, Blackrock Muniholdings Fd in (MHD) at 6.8%, Vanguard Bd Index Fds (BLV) at 4.2%, Blackrock Mun Target Term Tr (BTT) at 3.0% and Vanguard Index Fds (VB) at 2.8%.

What did Karpus Management, Inc. buy last quarter?

In Q2 2026, Karpus Management, Inc. added Ishares Tr (TLT) (+222.9% shares), Vanguard Bd Index Fds (BND) (+61.6% shares) and Alliancebernstein Natl Mun I (AFB) (+41.1% shares), compared with its Q1 2026 filing.

What did Karpus Management, Inc. sell last quarter?

In Q2 2026, Karpus Management, Inc. cut from its top 50 Gp-Act III Acquisition-A (GPAT), cut from its top 50 Legato Merger Corp III (LEGT), cut from its top 50 Quartzsea Acquisition Corp (QSEA), cut from its top 50 Eaton Vance Mun Bd Fd (EIM), cut from its top 50 Sim Acquisition Corp. I (SIMA), Dws Mun Income Tr New (KTF) (-16.1% shares), Vanguard Index Fds (VTI) (-14.9% shares) and Nuveen Nasdaq 100 Dynamic Ov (QQQX) (-14.9% shares), compared with its Q1 2026 filing.

How has Karpus Management, Inc.'s portfolio performed?

A portfolio copying Karpus Management, Inc.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +7.2% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +9.8% against +20.1%. Over 5 years: +0.6% a year against +11.6%.

When is Karpus Management, Inc.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Karpus Management, Inc.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Karpus Management, Inc. manage?

Karpus Management, Inc. reported $4.3B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $3.5B.