Skip to main content
Livermore
Livermore
ZHEN

Karpus Management, Inc.

SEC CIK
0001048703
Latest filing
Aug 14, 2026

Holdings in Q1 2023

Holdings as of Mar 31, 2023, filed May 11, 2023. Long positions only; changes compare share counts with Q4 2022.

Institution overview
Positions
376
−61 vs. Q4 2022
Portfolio value
$3.19B
+$229.9M (+7.8%) vs. Q4 2022
Filed
May 11, 2023
SEC
Holdings of Karpus Management, Inc. in Q1 2023
SecurityClassSharesValue% of portfolioShare changeActionHistory
Vanguard S&P 500 ETF922908363ETF479,563$180.3M5.7%−56,635−10.6%Reduced–
NRKNuveen New York Amt-Free Quality Municipal Income FundCOM15,020,233$158.8M5.0%+919,151+6.5%AddedHistory
NEANuveen AMT-Free Quality Municipal Income FundCOM14,215,839$158.1M5.0%+7,525,846+112.5%AddedHistory
iShares Core S&P 500 ETF464287200ETF297,716$122.4M3.8%−66,507−18.3%Reduced–
MUIBlackRock Municipal Credit Alpha Portfolio, Inc.COM9,795,134$114.4M3.6%+881,363+9.9%AddedHistory
Vanguard Morningstar Small-Cap ETF922908751ETF374,800$71.0M2.2%+4,921+1.3%Added–
EIMEaton Vance Municipal Bond FundCOM6,546,068$68.1M2.1%+486,318+8.0%AddedHistory
Vanguard Ftse Emerging Markets ETF922042858ETF1,471,141$59.4M1.9%+62,953+4.5%Added–
WIAWestern Asset Inflation-Linked Income FundCOM SH BEN INT6,132,994$53.1M1.7%+220,564+3.7%AddedHistory
NADNuveen Quality Municipal Income FundCOM4,297,629$49.6M1.6%+2,311,466+116.4%AddedHistory
APGBApollo Strategic Growth Capital IISHS CL A4,468,515$45.8M1.4%+4,468,515NewHistory
MVFBlackRock Munivest Fund, Inc.COM6,365,118$44.0M1.4%+921,298+16.9%AddedHistory
MHDBlackRock Muniholdings Fund, Inc.COM3,483,172$42.0M1.3%+310,834+9.8%AddedHistory
NZFNuveen Municipal Credit Income FundCOM SH BEN INT3,364,296$40.2M1.3%+938,447+38.7%AddedHistory
Vanguard Morningstar Total Stock Market ETF922908769ETF193,014$39.4M1.2%−22,169−10.3%Reduced–
GDVGabelli Dividend & Income TrustCOM1,701,605$35.4M1.1%+65,301+4.0%AddedHistory
NBXGNeuberger Next Generation Connectivity Fund Inc.COMMON STOCK3,375,014$35.1M1.1%+510,884+17.8%AddedHistory
NACNuveen California Quality Municipal Income FundCOM3,151,152$34.7M1.1%+2,224,267+240.0%AddedHistory
MYIBlackRock Muniyield Quality Fund III, Inc.COM3,033,531$34.4M1.1%+29,539+1.0%AddedHistory
ECATBlackRock ESG Capital Allocation Term TrustSHS BEN INT2,151,579$33.6M1.1%−217,278−9.2%ReducedHistory
NUONuveen Ohio Quality Municipal Income FundCOM2,634,293$33.5M1.1%+291,071+12.4%AddedHistory
Vanguard Intl Equity Index F922042866FTSE PACIFIC ETF468,672$31.8M1.0%+6,729+1.5%Added–
BTTBlackRock Municipal 2030 Target Term TrustCOM SHS BEN IN1,412,031$30.7M1.0%+164,513+13.2%AddedHistory
IQIInvesco Quality Municipal Income TrustCOM3,046,225$30.4M1.0%−14,400−0.5%ReducedHistory
VKQInvesco Municipal TrustCOM3,018,274$29.9M0.9%−21,158−0.7%ReducedHistory
MYDBlackRock Muniyield Fund, Inc.COM2,771,068$29.8M0.9%+215,664+8.4%AddedHistory
Vanguard Dividend Appreciation ETF921908844ETF179,837$27.7M0.9%−11,903−6.2%Reduced–
FINSAngel Oak Financial Strategies Income Term TrustCOM BEN INT2,227,657$27.5M0.9%+605,779+37.4%AddedHistory
NFJVirtus Dividend, Interest & Premium Strategy FundCOM2,328,074$27.4M0.9%+786,031+51.0%AddedHistory
MUCBlackRock Muniholdings California Quality Fund, Inc.CEF2,417,196$26.7M0.8%+601,739+33.1%AddedHistory
AIOVirtus Artificial Intelligence & Technology Opportunities FundCOM1,488,948$25.9M0.8%+55,777+3.9%AddedHistory
MEGINYLI CBRE Global Infrastructure Megatrends Term FundCOM1,817,526$25.8M0.8%+3,682+0.2%AddedHistory
AODabrdn Total Dynamic Dividend FundCOM SH BEN INT3,183,001$25.7M0.8%+130,747+4.3%AddedHistory
BLEBlackRock Municipal Income Trust IICOM2,345,485$25.2M0.8%+345,472+17.3%AddedHistory
iShares Tr464287861EUROPE ETF497,061$24.9M0.8%−146,592−22.8%Reduced–
BFKBlackRock Municipal Income TrustSH BEN INT2,383,356$24.3M0.8%+299,274+14.4%AddedHistory
BGYBlackRock Enhanced International Dividend TrustCOM BENE INTER4,458,188$24.1M0.8%+47,414+1.1%AddedHistory
BSTZBlackRock Science & Technology Term TrustSHS BEN INT1,275,568$23.8M0.7%−303,027−19.2%ReducedHistory
KTFDWS Municipal Income TrustCOM2,618,939$23.3M0.7%+45,510+1.8%AddedHistory
BOEBlackRock Enhanced Global Dividend TrustCOM2,346,118$23.3M0.7%−8,432−0.4%ReducedHistory
iShares Core S&P Small Cap ETF464287804ETF238,985$23.1M0.7%+58,785+32.6%Added–
Vanguard Intl Equity Index F922042874FTSE EUROPE ETF350,120$21.3M0.7%−58,154−14.2%Reduced–
VGMInvesco Trust for Investment Grade MunicipalsCOM2,131,710$21.2M0.7%−37,100−1.7%ReducedHistory
Vanguard Information Technology ETF92204A702ETF50,485$19.5M0.6%−1,091−2.1%Reduced–
MMUWestern Asset Managed Municipals Fund Inc.COM1,720,345$17.7M0.6%+22,786+1.3%AddedHistory
Pacer US Cash Cows 100 ETF69374H881ETF353,946$16.6M0.5%+318,187+889.8%Added–
Accretion Acquisition Corp00438Y107COM1,597,921$16.5M0.5%−47,548−2.9%Reduced–
SK Growth Opportunities CorpG8192N103CLASS A COM1,555,622$16.2M0.5%+252,450+19.4%Added–
OCAXOCA Acquisition Corp.COM CL A1,540,154$15.9M0.5%−42,050−2.7%ReducedHistory
NUWNuveen AMT-Free Municipal Value FundCOM1,116,627$15.4M0.5%−8,533−0.8%ReducedHistory
EXGEaton Vance Tax-Managed Global Diversified Equity Income FundCOM1,920,107$15.0M0.5%+1,391,317+263.1%AddedHistory
TGVCTG Venture Acquisition Corp.CLASS A COM1,333,218$13.8M0.4%00.0%UnchangedHistory
BMEZBlackRock Health Sciences Term TrustCOM SHS823,120$13.8M0.4%+51,486+6.7%AddedHistory
VTNInvesco Trust for Investment Grade New York MunicipalsCOM1,303,389$13.6M0.4%−36,286−2.7%ReducedHistory
ETGEaton Vance Tax-Advantaged Global Dividend Income FundCOM837,998$13.5M0.4%+327,892+64.3%AddedHistory
VMOInvesco Municipal Opportunity TrustCOM1,335,666$13.1M0.4%+64,596+5.1%AddedHistory
AIEVThunder Power Holdings, Inc.CL A COM1,251,792$13.0M0.4%+165,168+15.2%AddedHistory
iShares MSCI Eafe Min Vol Factor ETF46429B689ETF190,256$12.9M0.4%−25,879−12.0%Reduced–
Schwab US Dividend Equity ETF808524797ETF168,352$12.3M0.4%−4,238−2.5%Reduced–
ACPabrdn Income Credit Strategies FundCOM1,781,674$11.9M0.4%+1,781,674NewHistory
FTIIFutureTech II Acquisition Corp.CLASS A COM1,108,202$11.6M0.4%−12,075−1.1%ReducedHistory
AFBAlliancebernstein National Municipal Income FundCOM1,050,091$11.5M0.4%+229,302+27.9%AddedHistory
Vanguard Ftse All-World Ex-US Index Fund922042775ETF214,387$11.5M0.4%−43,477−16.9%Reduced–
MINAberdeen Intermediate Income FundSH BEN INT4,129,550$11.4M0.4%+372,616+9.9%AddedHistory
FPFFirst Trust Intermediate Duration Preferred & Income FundCOM685,644$10.8M0.3%+421,392+159.5%AddedHistory
iShares Inc464286509MSCI CDA ETF309,732$10.6M0.3%−14,881−4.6%Reduced–
Mobiv Acquisition Corp60742N106CLASS A COM1,015,497$10.6M0.3%+801,155+373.8%Added–
MYNBlackRock Muniyield New York Quality Fund, Inc.COM1,010,807$10.3M0.3%+294,420+41.1%AddedHistory
GLSTGlobal Star Acquisition Inc.CLASS A COM993,233$10.2M0.3%+224,258+29.2%AddedHistory
GBBKGlobal Blockchain Acquisition Corp.COMMON STOCK979,481$10.1M0.3%+238,500+32.2%AddedHistory
Abacus Global Management, Inc.274681105COM CL A976,451$10.0M0.3%−5,800−0.6%Reduced–
ACACAcri Capital Acquisition CorpCOM CL A952,407$9.98M0.3%−1,750−0.2%ReducedHistory
NANNuveen New York Quality Municipal Income FundCOM895,895$9.89M0.3%+149,291+20.0%AddedHistory
ASGIabrdn Global Infrastructure Income FundCOM SHS BEN INT546,252$9.81M0.3%+546,252NewHistory
iShares Inc464286533MSCI EMERG MRKT179,234$9.78M0.3%−12,155−6.4%Reduced–
J P Morgan Exchange Traded F46641Q217BETABULDRS JAPAN201,347$9.75M0.3%+9,172+4.8%Added–
ETOEaton Vance Tax-Advantaged Global Dividend Opportunities FundCOM430,436$9.57M0.3%+267,455+164.1%AddedHistory
Vanguard Short-Term Bond ETF921937827ETF124,750$9.54M0.3%+1,300+1.1%Added–
SVIISpring Valley Acquisition Corp. IICLASS A ORD916,518$9.48M0.3%−650−0.1%ReducedHistory
MVTBlackRock Munivest Fund II, Inc.COM880,871$9.47M0.3%+160,808+22.3%AddedHistory
Burtech Acquisition Corp123013104CLASS A COM906,085$9.22M0.3%+13,910+1.6%Added–
RFMZRiverNorth Flexible Municipal Income Fund II, Inc.COM682,265$9.21M0.3%+26,767+4.1%AddedHistory
Everest Consolidator Acq Cor29978K102CL A COM874,780$9.11M0.3%−8,075−0.9%Reduced–
BTZBlackRock Credit Allocation Income TrustCOM873,507$8.99M0.3%+3,389+0.4%AddedHistory
FRLAFortune Rise Acquisition CorpCL A813,274$8.67M0.3%−3,825−0.5%ReducedHistory
MHNBlackRock Muniholdings New York Quality Fund, Inc.COM799,228$8.50M0.3%+138,030+20.9%AddedHistory
IGDVoya GLOBAL EQUITY DIVIDEND & PREMIUM OPPORTUNITY FUNDCOM1,586,082$8.09M0.3%+170,338+12.0%AddedHistory
Invesco Exchange Traded FD T46137V357S&P500 EQL WGT55,000$7.95M0.2%−57,968−51.3%Reduced–
Avalon Acquisition Inc05338E101CLASS A COM748,402$7.80M0.2%−12,000−1.6%Reduced–
iShares MSCI USA Quality Factor ETF46432F339ETF61,992$7.69M0.2%+59,616+2,509.1%Added–
ETWEaton Vance Tax-Managed Global Buy-Write Opportunities FundCOM944,793$7.63M0.2%+608,815+181.2%AddedHistory
SCAQStratim Cloud Acquisition Corp.CLASS A COM745,553$7.60M0.2%−2,887−0.4%ReducedHistory
NVGNuveen AMT-Free Municipal Credit Income FundCEF642,522$7.57M0.2%+617,456+2,463.3%AddedHistory
DTFDTF Tax-Free Income 2028 Term Fund IncCOM681,814$7.55M0.2%−11,808−1.7%ReducedHistory
FAMFirst Trust/Abrdn Global Opportunity Income FundCOM SHS1,255,029$7.52M0.2%+685,063+120.2%AddedHistory
Investcorp India Acquistn CoG49219101CLASS A ORD SHS704,339$7.40M0.2%−5,640−0.8%Reduced–
ISRLFIsrael Acquisitions CorpCLASS A ORD714,125$7.31M0.2%+714,125NewHistory
VKIInvesco Advantage Municipal Income Trust IISH BEN INT816,570$7.28M0.2%−9,181−1.1%ReducedHistory
HSPOFHorizon Space Acquisition I Corp.ORDINARY SHARES703,350$7.19M0.2%+703,350NewHistory
Kimbell Tiger Acquisition Co49436K106COM CL A675,700$7.12M0.2%+512,750+314.7%Added–

Sold out since Q4 2022 (101)

Positions held at the end of Q4 2022 that are gone from this filing.

The largest 100 of 101 by value last quarter.

Positions of Karpus Management, Inc. sold out since Q4 2022
SecurityClassShares in Q4 2022Value in Q4 2022% of portfolio in Q4 2022History
Vanguard Morningstar Value ETF922908744ETF140,005$19.7M0.7%–
Delaware Ivy Hig246107106Closed-End Fund1,199,283$13.1M0.4%–
JMACMaxpro Capital Acquisition Corp.CLASS A COM1,121,320$11.6M0.4%History
Verde Clean Fuels, Inc.15130M102CLASS A ORD SHS1,079,118$10.9M0.4%–
Envoy Medical, Inc.03737A101COM CL A964,920$9.67M0.3%–
Armada Acquisition Corp. I04208V103COM879,425$8.90M0.3%–
Estrella Immunopharma, Inc.89268A107COM863,249$8.87M0.3%–
Alliance Entertainment Holding Corp00653H102COM CL A862,699$8.82M0.3%–
Emerging Markets Horizon CorG3033X105CLASS A ORD SHS855,266$8.73M0.3%–
TRUGTruGolf Holdings, Inc.CLASS A COM734,900$7.55M0.3%History
McLaren Technology Acq Corp58176U109CLASS A COM706,875$7.22M0.2%–
NIRNear Intelligence, Inc.CL A657,920$6.75M0.2%History
Foxwayne Enterpris Aqstn Cor35166L109COM CL A647,028$6.56M0.2%–
Northview Acquisition Corp66718N103COM590,475$5.98M0.2%–
AEONAEON Biopharma, Inc.CL A546,735$5.53M0.2%History
PICCPivotal Investment Corp IIICOM CL A544,069$5.49M0.2%History
SEPASEP Acquisition Corp.CLASS A COM524,051$5.33M0.2%History
ACBAAce Global Business Acquisition LtdORDINARY SHARES494,867$5.25M0.2%History
NIEVirtus Equity & Convertible Income FundCOM278,904$5.08M0.2%History
PPHPPHP Ventures Acquisition Corp.CLASS A COM346,021$3.59M0.1%History
Bite Acquisition Corp.09175K105COMMON STOCK353,650$3.56M0.1%–
EACEdify Acquisition Corp.CL A342,825$3.47M0.1%History
AXACAXIOS Sustainable Growth Acquisition CorpCL A ORD SHS321,950$3.32M0.1%History
Nuveen Intermediate Duration Quality Municipal Term Fund670677103COM256,046$3.20M0.1%–
Cascadia Acquisition Corp.14739D100CLASS A COM298,100$2.99M0.1%–
iShares Tr464287341GLOBAL ENERG ETF76,174$2.97M0.1%–
DGNUDragoneer Growth Opportunities Corp. IIICL A SHS283,875$2.80M0.1%History
SGIISeaport Global Acquisition II Corp.CLASS A COM270,474$2.76M0.1%History
MDH Acquisition Corp55283P106COM CL A265,214$2.67M0.1%–
GSDGlobal System Dynamics, Inc.CL A246,890$2.55M0.1%History
CURRCurrenc Group Inc.CL A ORD SHS244,500$2.53M0.1%History
Lightjump Acquisition Corp53228M106COM248,131$2.51M0.1%–
OCEAOcean Biomedical, Inc.CLASS A COM238,085$2.48M0.1%History
Medicus Sciences AcquisitionG5960S108CL A SHS228,558$2.30M0.1%–
IQMDIntelligent Medicine Acquisition Corp.CLASS A COM218,661$2.25M0.1%History
Pioneer Merger Corp.G7S24C103CL A SHS218,000$2.21M0.1%–
AVHIAchari Ventures Holdings Corp. ICOM213,800$2.18M0.1%History
Macquarie Global Infrastruct55608D101COM93,084$2.11M0.1%–
CYCUCycurion, Inc.COM203,750$2.07M0.1%History
WRACWilliams Rowland Acquisition Corp.COM198,890$2.04M0.1%History
Aurora Acquisition CorpG0698L103CLASS A ORD SHS194,828$1.97M0.1%–
Interprivate III Financial P46064R106COM CL A196,000$1.96M0.1%–
iShares Inc464286400MSCI BRAZIL ETF66,330$1.86M0.1%–
Interprivate IV Infratech PR46064T102CLASS A COM177,350$1.80M0.1%–
MBACM3-Brigade Acquisition II Corp.COM CL A177,556$1.80M0.1%History
HERAFTAC Hera Acquisition Corp.CLASS A ORD SHS172,900$1.75M0.1%History
Thrive Acquisition CorporatiG7158C101CLASS A ORD163,550$1.68M0.1%–
GDNRGardiner Healthcare Acquisitions Corp.COMMON STOCK162,475$1.66M0.1%History
ALORALSP Orchid Acquisition Corp ICLASS A ORD159,425$1.63M0.1%History
Belong Acquisition Corp.08069M102CLASS A COM160,581$1.61M0.1%–
CFIVCF Acquisition Corp. IVCOM CL A154,544$1.55M0.1%History
FSNBFusion Acquisition Corp. IICOM CL A153,398$1.54M0.1%History
Jack Creek Investment Corp.G4989X115CL A SHS150,173$1.52M0.1%–
KIIIKismet Acquisition Three Corp.CL A SHARES150,000$1.51M0.1%History
SWSSClean Energy Special Situations Corp.COM128,975$1.31M<0.1%History
Churchill Capital Corp V17144T107COM CL A125,000$1.24M<0.1%–
G Squared Ascend I IncG4204R109SHS CL A122,092$1.23M<0.1%–
Epiphany Technology Acquisit29429X109COM CL A107,050$1.08M<0.1%–
ROSERose Hill Acquisition CorpCLASS A ORD104,437$1.08M<0.1%History
NIDNuveen Intermediate Duration Municipal Term FundCOM76,555$1.00M<0.1%History
Forest Road Acquisition Cor34619V103CL A100,000$1.00M<0.1%–
Mountain & Co I Acquisitn CoG6301J104CLASS A ORD91,000$944.6K<0.1%–
L Catterton Asia AcquisitionG5346G125CLASS A ORD SHS90,833$917.4K<0.1%–
Fintech Evolution Acquis GroG3R19A104SHS CL A80,419$812.2K<0.1%–
Syntec Optics Holdings, Inc.68218C108CLASS A COM78,700$809.0K<0.1%–
REVEAlpine Acquisition Corp.COM75,227$783.1K<0.1%History
AWINAERWINS Technologies Inc.CLASS A COM70,810$742.8K<0.1%History
Esm Acquisition CorporationG3195H104SHS CL A67,300$679.1K<0.1%–
MACAMoringa Acquisition CorpCL A SHS64,250$647.0K<0.1%History
First Reserve Sustainable GW336169107CLASS A COM58,950$592.4K<0.1%–
Eq Health Acquisition Corp26886A101COM CL A56,000$565.6K<0.1%–
Genesis GRWT Tech Acqustn CoG3R23D102CLASS A ORD SHS53,000$549.1K<0.1%–
SCMASeaport Calibre Materials Acquisition Corp.CLASS A COM51,200$523.8K<0.1%History
GFNew Germany Fund IncCOM63,962$504.7K<0.1%History
Crown PropTech AcquisitionsG25741102SHS CL A49,700$502.5K<0.1%–
Tech and Energy Transition87823R102CLASS A COM50,000$501.5K<0.1%–
USCTRoth CH Acquisition Co.CLASS A ORD47,000$484.1K<0.1%History
iShares Tr46435G334MSCI UK ETF NEW15,650$479.8K<0.1%–
Mason Industrial Technolgy I57520Y106COM CL A43,529$435.1K<0.1%–
Tailwind Internatnal Acq CorG8662F101COM CL A42,375$427.6K<0.1%–
MPACModel Performance Acquisition CorpCLASS A ORD SHS39,613$414.4K<0.1%History
Pathfinder Acquisition CorpG04119106CL A40,500$407.8K<0.1%–
AEACAuthentic Equity Acquisition Corp.CL A SHS40,234$406.8K<0.1%History
Blueriver Acquisition CorpG1261Q107SHS CL A33,750$340.2K<0.1%–
ZURAZura Bio LtdSHS CL A33,449$340.2K<0.1%History
Arctos Northstar Acquis CorpG0477L100SHS CL A32,625$329.2K<0.1%–
ALTIAlTi Global, Inc.CL A SHS32,100$322.9K<0.1%History
iShares Inc46434G822MSCI JAPAN ETF5,733$312.1K<0.1%–
iShares Inc464286525MSCI GBL MIN VOL3,265$310.2K<0.1%–
Biotech Acquisition CompanyG1125A108CL A SHS25,000$252.5K<0.1%–
ABGIABG Acquisition Corp. ICL A SHS24,400$246.2K<0.1%History
Vanguard Ftse Developed Markets ETF921943858ETF5,602$235.1K<0.1%–
Agile Growth Corp.G01202103CLASS A ORD21,725$219.2K<0.1%–
PFEPfizer IncStock4,040$207.0K<0.1%History
CHAACatcha Investment CorpSHS CL A19,275$194.5K<0.1%History
KSIKadem Sustainable Impact CorpCLASS A COM18,894$189.5K<0.1%History
Airship AI Holdings, Inc.G1R25Q105CLASS A ORD SHS16,471$166.4K<0.1%–
Summit Healthcre Acquistn CoG8566R102CLASS A ORD SHS16,000$160.4K<0.1%–
ONYXOnyx Acquisition Co. ISHS CL A14,200$146.3K<0.1%History
KAIRKairos Acquisition Corp.CL A SHS12,450$125.4K<0.1%History