Karpus Management, Inc.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Karpus Management, Inc. reported 233 stock positions worth $3.5 billion. Its top holding was Vanguard S&P 500 ETF (VOO) at 7.2% of the portfolio, followed by BlackRock Muniholdings Fund (MHD, 6.8%) and Vanguard Long-Term Bond ETF (BLV, 4.2%). Compared with Q1 2026, it opened 27 new positions, sold out of 25, added to 63 and reduced 115. The biggest buy was iShares 20+ Year Treasury BD (TLT, shares +223%) and the biggest sale an exit from GP-Act III Acquisition-A (GPAT).
- Most Recent 13F
- Q2 2026
- Location
- Pittsford, NY
- CIK
- 0001048703
- Portfolio Value
- $3.5B (Q2 2026)
- SEC Filing
- 0001072613-26-000683 ↗ filed Aug 14, 2026
Holdings Value
Holdings 233 stocks · $3.5B
| VOO Vanguard S&P 500 ETF | 7.24% | 366,496 | $251.7M | Reduce -6.7% |
| MHD BlackRock Muniholdings Fund | 6.78% | 19,816,954 | $235.8M | Reduce -1.1% |
| BLV Vanguard Long-Term Bond ETF | 4.23% | 2,132,736 | $147.0M | Add +8.2% |
| BTT BlackRock 2030 Muni TRGT TRM | 3.04% | 4,641,247 | $105.6M | Reduce -1.0% |
| VB Vanguard Most SM-Cap ETF-Usd | 2.79% | 319,556 | $96.9M | Reduce -0.7% |
| MYN BlackRock Muniyield NY QLTY | 2.32% | 7,938,637 | $80.6M | Reduce -2.7% |
| VWO Vanguard Ftse Emerging Marke | 2.22% | 1,294,280 | $77.3M | Reduce -2.1% |
| VEU Vanguard Ftse All-World Ex-U | 2.20% | 911,846 | $76.4M | Reduce -6.6% |
| TLT iShares 20+ Year Treasury BD | 2.20% | 882,953 | $76.3M | Add +222.9% |
| XWIAX Western Asset Infl-Link Sec | 2.02% | 8,648,798 | $70.3M | Add +3.6% |
| MYI BlackRock Muniyield QLTY III | 1.74% | 5,442,103 | $60.5M | Reduce -4.1% |
| IVV iShares Core S&P 500 ETF | 1.74% | 80,591 | $60.4M | Reduce -11.2% |
| FINS Angel Oak Financ Strat Inc. | 1.71% | 4,654,677 | $59.6M | Reduce -0.9% |
| MUC BlackRock Munihold Ca QLTY | 1.46% | 4,603,531 | $50.6M | Reduce -14.4% |
| NBXG Neuberger Next Generation Co. | 1.42% | 2,981,177 | $49.3M | Reduce -2.9% |
| VCRM Vanguard Core Tax-Ex Bond | 1.35% | 613,630 | $46.9M | Add +4.0% |
| XGDVX Gabelli Dividend & Income TR | 1.22% | 1,444,270 | $42.5M | Reduce -3.7% |
| CSQ Calamos Strat TTL RTRN FND | 1.21% | 2,052,204 | $42.2M | Add +5.5% |
| QQQX Nuveen Nasdaq 100 DYN Overwr | 1.21% | 1,393,850 | $42.0M | Reduce -14.8% |
| BND Vanguard Total Bond Market | 1.19% | 565,055 | $41.5M | Add +61.6% |
| AFB Allianceberstein NTL Muni | 1.18% | 3,603,262 | $41.1M | Add +41.1% |
| VPL Vanguard Ftse Pacific ETF | 1.12% | 337,048 | $39.0M | Reduce -8.4% |
| IEUR iShares Core MSCI Europe ETF | 1.04% | 481,445 | $36.2M | Reduce -2.3% |
| BST BlackRock Science & Tech TR | 0.93% | 639,482 | $32.4M | Add +13.6% |
| IEF iShares 7-10 Year Treasury B | 0.90% | 331,612 | $31.4M | Add +1118.7% |
| IWB iShares Russell 1000 ETF | 0.88% | 74,490 | $30.5M | Reduce -12.5% |
| SCII SC II Acquisition Corp. Class A | 0.85% | 2,942,837 | $29.5M | Reduce -2.8% |
| DMII Drugs Made in America Acquis | 0.81% | 2,787,998 | $28.0M | Add +7.3% |
| MQY BlackRock Muniyield Quality | 0.81% | 2,414,908 | $28.0M | Reduce -7.7% |
| DMAA Drugs Made in America Acquis | 0.77% | 2,507,817 | $26.7M | Reduce -0.9% |
| AACP Apogee Acquisition Corp. Class A | 0.76% | 2,648,075 | $26.3M | New |
| VTI VG Morningstar TS MKT ETF-US | 0.73% | 68,670 | $25.4M | Reduce -14.9% |
| KTF DWS Municipal Income Trust | 0.73% | 2,760,957 | $25.4M | Reduce -16.1% |
| VGK Vanguard Ftse Europe ETF | 0.72% | 283,483 | $25.1M | Reduce -1.9% |
| ASG Liberty All-Star Growth FD | 0.72% | 4,548,670 | $24.9M | Add +7.8% |
| CHW Calamos Global Dynamic Incom | 0.63% | 2,460,540 | $21.9M | Add +12.3% |
| XLF SS Financial Select Sector | 0.63% | 405,788 | $21.8M | Add +0.0% |
| ETO Eaton Vance T/A GLBL DVD Opp | 0.62% | 699,132 | $21.6M | Add +8.3% |
| AIIA AI Infrastructure Ac-A | 0.59% | 2,009,049 | $20.6M | Reduce -2.8% |
| TAVI Tavia Acquisition Corp. | 0.58% | 1,893,627 | $20.2M | Reduce -13.0% |
| BKT BlackRock Income Trust | 0.56% | 1,828,427 | $19.6M | Reduce -1.2% |
| EZU iShares MSCI Eurozone ETF | 0.56% | 278,697 | $19.4M | Reduce -0.6% |
| VGT Vanguard Info Tech ETF | 0.55% | 161,378 | $19.3M | Reduce -3.4% |
| USA Liberty All Star Equity Fund | 0.55% | 3,271,867 | $19.0M | Add +5.0% |
| MKLY McKinley Acquisition Co. Class A | 0.53% | 1,825,871 | $18.5M | Reduce -4.1% |
| ANSC Agriculture & Natural Soluti | 0.53% | 1,613,968 | $18.4M | Reduce -2.9% |
| EWC iShares MSCI Canada ETF | 0.53% | 317,284 | $18.3M | Add +0.9% |
| XPCQX PIMCO California Muni Inc. FD | 0.52% | 2,031,479 | $18.2M | Add +14.2% |
| GCOW Pacer Global Cash Cows Divid | 0.51% | 413,372 | $17.9M | Add +5.5% |
| RFAI RF Acquisition Corp. II | 0.51% | 1,619,533 | $17.9M | Reduce -1.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.50% | 201,907 | $17.4M | Reduce -0.5% |
| BHK BlackRock Core Bond Trust | 0.49% | 1,858,353 | $17.0M | Reduce -1.1% |
| EIM Eaton Vance Municipal Bond | 0.48% | 1,660,000 | $16.5M | Reduce -27.7% |
| WPAC White Pearl Acquisition Co. Class A | 0.47% | 1,641,020 | $16.4M | Add +2.4% |
| COPL Copley Acquisition Corp. Class A | 0.45% | 1,510,297 | $15.8M | Reduce -1.1% |
| ETW Eaton Vance T/M GLBL Buy-WR | 0.45% | 1,616,305 | $15.6M | Reduce -0.6% |
| BBJP JPMorgan Betabuilders Japan | 0.44% | 204,173 | $15.4M | Reduce -11.5% |
| CHAR Charlton Aria Acquisiti Class A | 0.44% | 1,410,653 | $15.2M | Reduce -0.5% |
| GTERA Globa Terra Acquisition Co. Class A | 0.43% | 1,461,112 | $15.1M | Reduce -0.7% |
| DGRO iShares Core Dividend Growth | 0.43% | 196,580 | $14.9M | Add +0.8% |
| VECA Vernal Capital Acqui Corp. | 0.42% | 1,484,400 | $14.8M | New |
| XBOEX BlackRock Enh GLBL DVD TR | 0.42% | 1,206,786 | $14.6M | Reduce -0.4% |
| BSTZ BlackRock Sci & Tech TRM TR | 0.42% | 483,321 | $14.5M | Add +17.9% |
| WSTN Westin Acquisition Corp. Class A | 0.40% | 1,388,365 | $14.0M | Reduce -0.1% |
| ACGC Acp Holdings Acquisitio Class A | 0.39% | 1,348,625 | $13.4M | New |
| XBGYX BlackRock Enh Intl DVD TR | 0.38% | 2,327,943 | $13.4M | Add +19.4% |
| ORIQ Origin Investment Corp. I | 0.38% | 1,286,528 | $13.3M | Add +46.9% |
| MIN Aberdeen Intermediate Inc. FD | 0.38% | 5,323,675 | $13.1M | Add +0.9% |
| KFII K&F Growth Acquisition Cor-A | 0.38% | 1,245,037 | $13.1M | Reduce -5.5% |
| VNME Vendome Acquisition Corp. Class A | 0.37% | 1,247,903 | $12.7M | Add +15.0% |
| LKSP Lake Superior Acquisiti Class A | 0.36% | 1,249,608 | $12.7M | Reduce -2.7% |
| APXT Apex Treasury Corp. Class A | 0.36% | 1,253,557 | $12.6M | Add +7.7% |
| BHAV Bhav Acquisition Corp. Class A | 0.36% | 1,267,457 | $12.6M | New |
| SSAC Spacsphere Acquisition Class A | 0.36% | 1,248,875 | $12.5M | Add +2.6% |
| CHEC Chenghe Acquisition II Class A | 0.34% | 1,176,550 | $11.9M | Reduce -1.0% |
| FIGX Figx Capital Acquisition C-A | 0.34% | 1,163,324 | $11.9M | Add +164.4% |
| TRAD Apex Tech Acquisition Inc. | 0.34% | 1,171,450 | $11.7M | New |
| FMAC Future Money Acquisition Cor | 0.33% | 1,163,950 | $11.6M | New |
| XEXGX Eaton Vance Tax-Managed Glob | 0.33% | 1,166,515 | $11.4M | Reduce -1.0% |
| XEVTX Eaton Vance Tax-Adv DVD Inc. | 0.33% | 412,721 | $11.4M | Reduce -0.9% |
| GAB Gabelli Equity Trust | 0.32% | 1,973,929 | $11.2M | New |
| IIF Morgan Stanley India Invest | 0.31% | 477,621 | $10.9M | Add +20.7% |
| EOD Allspring Global Dividend Op | 0.30% | 1,620,995 | $10.6M | Reduce -2.7% |
| MACI Melar Acquisition Corp. I-A | 0.30% | 961,303 | $10.5M | Reduce -2.8% |
| HEQ John Hancock Divers Inc. Fund | 0.30% | 909,620 | $10.4M | Add +75.4% |
| QSEA Quartzsea Acquisition Corp. | 0.29% | 974,765 | $10.3M | Reduce -56.8% |
| IAF Abrdn Australia Equity Fund | 0.29% | 822,927 | $10.2M | Add +15.7% |
| EWY iShares MSCI South Korea ETF | 0.29% | 50,375 | $10.2M | Reduce -33.3% |
| XCAFX Morgan Stanley China A Share | 0.29% | 482,293 | $10.1M | Add +1.9% |
| IPEX Inflection Point Acquisition | 0.29% | 962,657 | $10.1M | Reduce -4.4% |
| MEGI Nylim CBRE GB Infra Mtrnd TF filed as NYLI CBRE GBL INFR MEGTRNDS | 0.29% | 656,967 | $10.0M | Add +29.0% |
| EMIS Emmis Acquisition Corp. Class A | 0.29% | 981,161 | $9.9M | No change |
| ARTC Art Technology Acquisit Class A | 0.28% | 973,200 | $9.7M | New |
| GIW GIGCAPITAL8 Corp. Class A | 0.27% | 945,625 | $9.5M | Reduce -1.9% |
| TDF Templeton Dragon Fund Inc. | 0.27% | 871,955 | $9.5M | Add +0.2% |
| EDEN iShares MSCI Denmark ETF | 0.27% | 85,230 | $9.4M | Add +8.2% |
| JHS John Hancock Income Sec TR | 0.27% | 846,161 | $9.3M | Add +58.8% |
| AIO Virtus Artific Intel & Tech | 0.26% | 324,291 | $9.1M | Add +67.5% |
| STK Columbia Slgmn Prem Tech GR | 0.26% | 168,899 | $9.1M | Reduce -9.4% |
| EWZ iShares MSCI Brazil ETF | 0.26% | 261,401 | $9.0M | Add +3.2% |
Portfolio Sells Q1 2026 → Q2 2026
| GPAT GP-Act III Acquisition-A | Sold out | 0.00% | −0.75 |
| LEGT Legato Merger Corp. III | Sold out | 0.00% | −0.73 |
| SIMA Sim Acquisition Corp. I-A | Sold out | 0.00% | −0.58 |
| QSEA Quartzsea Acquisition Corp. | Reduce -56.8% | 0.29% | −0.44 |
| LPAA Launch One Acquisition Corp. | Sold out | 0.00% | −0.36 |
| CUB Lionheart Holdings Class A | Sold out | 0.00% | −0.35 |
| MUC BlackRock Munihold Ca QLTY | Reduce -14.4% | 1.46% | −0.29 |
| BTT BlackRock 2030 Muni TRGT TRM | Reduce -1.0% | 3.04% | −0.28 |
| MHD BlackRock Muniholdings Fund | Reduce -1.1% | 6.78% | −0.27 |
| IGE iShares North American Natur | Sold out | 0.00% | −0.25 |
| FSHP Flag Ship Acquisition Corp. | Sold out | 0.00% | −0.25 |
| ETG Eaton Vance T/A GL DVD Incm | Sold out | 0.00% | −0.24 |
| RDAC Rising Dragon Acquisition Co. | Sold out | 0.00% | −0.24 |
| EIM Eaton Vance Municipal Bond | Reduce -27.7% | 0.48% | −0.22 |
| VACH Voyager Acquisition Corp. | Sold out | 0.00% | −0.22 |
| PLMK Plum Acquisition Corp. IV | Reduce -98.2% | 0.00% | −0.21 |
| ENHA Enhanced Group Inc. | Sold out | 0.00% | −0.21 |
| BACC Blue Acquisition Corp. Class A | Sold out | 0.00% | −0.21 |
| MLAC Mountain Lake Acquisition-A | Sold out | 0.00% | −0.20 |
| KTF DWS Municipal Income Trust | Reduce -16.1% | 0.73% | −0.20 |
| TDAC Translational Development Ac | Sold out | 0.00% | −0.20 |
| FINS Angel Oak Financ Strat Inc. | Reduce -0.9% | 1.71% | −0.15 |
| TWN Taiwan Fund Inc./TH/MD-US Inc. | Sold out | 0.00% | −0.15 |
| QQQX Nuveen Nasdaq 100 DYN Overwr | Reduce -14.8% | 1.21% | −0.15 |
| TAVI Tavia Acquisition Corp. | Reduce -13.0% | 0.58% | −0.14 |
| MYN BlackRock Muniyield NY QLTY | Reduce -2.7% | 2.32% | −0.13 |
| MYI BlackRock Muniyield QLTY III | Reduce -4.1% | 1.74% | −0.12 |
| SHM SS SPDR N Ice St Muni ETF | Reduce -72.6% | 0.04% | −0.12 |
| IVV iShares Core S&P 500 ETF | Reduce -11.2% | 1.74% | −0.11 |
| GF The New Germany Fund Inc. | Reduce -95.3% | 0.01% | −0.11 |
| XRPNU Armada Acquisition Corp. II | Sold out | 0.00% | −0.10 |
| SCII SC II Acquisition Corp. Class A | Reduce -2.8% | 0.85% | −0.09 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -6.6% | 2.20% | −0.09 |
| MQY BlackRock Muniyield Quality | Reduce -7.7% | 0.81% | −0.09 |
| VOO Vanguard S&P 500 ETF | Reduce -6.7% | 7.24% | −0.08 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -14.9% | 0.73% | −0.08 |
| EURK Eureka Acquisition Corp. | Sold out | 0.00% | −0.07 |
| IWB iShares Russell 1000 ETF | Reduce -12.5% | 0.88% | −0.07 |
| TONT Graf Global Corp. Class A | Sold out | 0.00% | −0.06 |
| MKLY McKinley Acquisition Co. Class A | Reduce -4.1% | 0.53% | −0.06 |
| ZTR Virtus Total Return Fund Inc. | Reduce -61.5% | 0.04% | −0.06 |
| DMAA Drugs Made in America Acquis | Reduce -0.9% | 0.77% | −0.06 |
| ANSC Agriculture & Natural Soluti | Reduce -2.9% | 0.53% | −0.06 |
| AIIA AI Infrastructure Ac-A | Reduce -2.8% | 0.59% | −0.06 |
| BSAA Best Spac I Acquisition-A | Sold out | 0.00% | −0.05 |
| BBJP JPMorgan Betabuilders Japan | Reduce -11.5% | 0.44% | −0.05 |
| KFII K&F Growth Acquisition Cor-A | Reduce -5.5% | 0.38% | −0.05 |
| BHK BlackRock Core Bond Trust | Reduce -1.1% | 0.49% | −0.05 |
| NTWO Newbury Street II Ac Class A | Reduce -19.6% | 0.14% | −0.05 |
| BKT BlackRock Income Trust | Reduce -1.2% | 0.56% | −0.05 |
Portfolio Buys Q1 2026 → Q2 2026
| TLT iShares 20+ Year Treasury BD | Add +222.9% | 2.20% | +1.46 |
| IEF iShares 7-10 Year Treasury B | Add +1118.7% | 0.90% | +0.82 |
| AACP Apogee Acquisition Corp. Class A | New | 0.76% | +0.76 |
| VECA Vernal Capital Acqui Corp. | New | 0.42% | +0.42 |
| BND Vanguard Total Bond Market | Add +61.6% | 1.19% | +0.39 |
| ACGC Acp Holdings Acquisitio Class A | New | 0.39% | +0.39 |
| BHAV Bhav Acquisition Corp. Class A | New | 0.36% | +0.36 |
| TRAD Apex Tech Acquisition Inc. | New | 0.34% | +0.34 |
| FMAC Future Money Acquisition Cor | New | 0.33% | +0.33 |
| AFB Allianceberstein NTL Muni | Add +41.1% | 1.18% | +0.33 |
| GAB Gabelli Equity Trust | New | 0.32% | +0.32 |
| BST BlackRock Science & Tech TR | Add +13.6% | 0.93% | +0.29 |
| ARTC Art Technology Acquisit Class A | New | 0.28% | +0.28 |
| PECE Peace Acquisition Corp. | New | 0.21% | +0.21 |
| FIGX Figx Capital Acquisition C-A | Add +164.4% | 0.34% | +0.20 |
| OHAC Oceanhawk Acquisition Corp. Class A | New | 0.19% | +0.19 |
| CSQ Calamos Strat TTL RTRN FND | Add +5.5% | 1.21% | +0.18 |
| QRED Quasaredge Acquisition Corp. | New | 0.16% | +0.16 |
| KTWO K2 Capital Acquisition Class A | New | 0.14% | +0.14 |
| BSTZ BlackRock Sci & Tech TRM TR | Add +17.9% | 0.42% | +0.13 |
| CHW Calamos Global Dynamic Incom | Add +12.3% | 0.63% | +0.13 |
| AIO Virtus Artific Intel & Tech | Add +67.5% | 0.26% | +0.13 |
| WENC West Enclave Merger Corp. | New | 0.13% | +0.13 |
| HEQ John Hancock Divers Inc. Fund | Add +75.4% | 0.30% | +0.12 |
| DISV Dimensional International SM | New | 0.12% | +0.12 |
| QADR Qdro Acquisition Corp. Class A | New | 0.11% | +0.11 |
| ORIQ Origin Investment Corp. I | Add +46.9% | 0.38% | +0.10 |
| SORN Soren Acquisition Corp. Class A | New | 0.10% | +0.10 |
| XSLL Xsolla Spac 1 Class A | New | 0.09% | +0.09 |
| ASG Liberty All-Star Growth FD | Add +7.8% | 0.72% | +0.09 |
| JHS John Hancock Income Sec TR | Add +58.8% | 0.27% | +0.09 |
| ETO Eaton Vance T/A GLBL DVD Opp | Add +8.3% | 0.62% | +0.08 |
| PAI Western Asset Investment Gra | New | 0.07% | +0.07 |
| ARCL Arc Group Acquisition I Corp. | New | 0.07% | +0.07 |
| PNI PIMCO NY Muni Inc. II FND | Add +51.3% | 0.23% | +0.07 |
| EOS Eaton Vance Enh Eqt Inc. II | Add +91.1% | 0.13% | +0.06 |
| IIF Morgan Stanley India Invest | Add +20.7% | 0.31% | +0.06 |
| XFLH XFLH Capital Corp. | Add +99.6% | 0.13% | +0.06 |
| EVAC Eqv Ventures Acquisition C-A | New | 0.06% | +0.06 |
| XBGYX BlackRock Enh Intl DVD TR | Add +19.4% | 0.38% | +0.06 |
| MEGI Nylim CBRE GB Infra Mtrnd TF | Add +29.0% | 0.29% | +0.05 |
| IGI Western Asst Inv GR Oppor TR | Add +38.0% | 0.25% | +0.05 |
| XPCQX PIMCO California Muni Inc. FD | Add +14.2% | 0.52% | +0.05 |
| MCAH Mountain Crest Acquisition 6 | New | 0.05% | +0.05 |
| VSDM Vanguard Short Tax-Ex Bond | New | 0.05% | +0.05 |
| HAVA Harvard Ave Acquisition Class A | Add +30.1% | 0.24% | +0.04 |
| HVMC Highview Merger Corp. Class A | Add +74.8% | 0.10% | +0.04 |
| MYX Maywood Acquisition C2-Class-A | New | 0.03% | +0.03 |
| XCAFX Morgan Stanley China A Share | Add +1.9% | 0.29% | +0.03 |
| BREZ Breeze Acquisition Cor -Ord | New | 0.03% | +0.03 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 233 | $3.5B | VOO, MHD, BLV, BTT, VB |
| Q1 2026 | 231 | $3.2B | VOO, MHD, BLV, BTT, VB |
| Q4 2025Amended | 214 | $3.3B | VOO, BLV, BTT, MHD, VB |
| Q3 2025 | 204 | $3.2B | VOO, BLV, BTT, NRK, MHD |
| Q2 2025 | 199 | $3.1B | VOO, NRK, MHD, IVV, BTT |
| Q1 2025 | 202 | $3.1B | VOO, NRK, MHD, IVV, XMVFX |
| Q4 2024 | 205 | $3.4B | VOO, NRK, XMUIX, XNEAX, MHD |
| Q3 2024 | 220 | $3.6B | VOO, NRK, XMUIX, XNEAX, NAD |
| Q2 2024 | 230 | $3.6B | XNEAX, NRK, VOO, XMUIX, NAD |
| Q1 2024 | 239 | $3.5B | XNEAX, NRK, VOO, XMUIX, EIM |