Equal-WT
WhaleScore 2.0
?
Karpus Management is based out of Pittsford. Karpus Management is a large advisory firm with 1755 clients and discretionary assets under management (AUM) of $3,951,184,737 (Form ADV from 2025-01-06). Their last reported 13F filing for Q3 2024 included $3,599,486,936 in managed 13F securities
and a top 10 holdings concentration of 39.2%. Karpus Management's largest holding is Vanguard S&P 500 ETF with shares held of 460,828. Whalewisdom has at least 85 13F filings, 1476 13D filings, 1223 13G filings, and 12 Form 4 filings
Business Description
Karpus provides advisory services, with details outlined in Item 4 of their documentation. Their services and fees are described in the document, indicating a focus on investment management. Karpus works with Consultants who recommend their services to clients, but Karpus does not compensate these Consultants for their referrals.
While Karpus manages the investments, the Consultants handle account servicing and are compensated directly by the clients. Karpus may entertain Consultants to foster business relationships, which could potentially influence their recommendations in favor of Karpus over other investment managers.
Investment Strategy
Karpus Investment Management utilizes a multi-manager approach, emphasizing actively managed, highly diversified, value-oriented strategies across all market cycles. This approach offers benefits such as enhanced yield, broad diversification, and access to professionally managed funds at discounted prices. Investment matrices are constructed for both fixed income and equity, outlining weighting, duration, credit quality, and return scenarios. The Investment Committee carefully reviews these matrices, considering benchmark deviations, weighted duration, overall credit quality, and potential return before approving them.
Karpus primarily offers discretionary investment advisory services, tailoring their strategies to each client's specific financial situation. They consider factors such as investment objectives, risk tolerance, time horizon, financial horizon, financial information, liquidity needs, and client restrictions to determine appropriate investments and allocations. The firm also offers cash and asset management services, determining the appropriate risk level for each portfolio based on the client's investment profile, which includes goals, risk tolerance, and other relevant factors.
Known Email Addresses
(Subscription Required)
Other Contact Information
(Subscription Required)

2024-09-30
Top Buys (13F)
Name | % Change |
---|---|
VOO Vanguard S&P 500 ETF | 1.54% |
MUI BlackRock Municipal | 1.09% |
GPAT GP-Act III Acquisiti | 0.84% |
LEGT Legato Merger Corp I | 0.71% |
RFAI RF Acquisition Corp | 0.71% |

2024-09-30
Top Sells (13F)
Name | % Change |
---|---|
NEA Nuveen AMT-Free Qual | 3.22% |
NZF Nuveen Municipal Cre | 2.05% |
EIM EATON VANCE MUNICIPA | 1.94% |
NAD Nuveen Quality Munic | 1.69% |
NAC Nuveen California Qu | 0.65% |

2024-09-30
13F Holdings Summary
Name | $ Change |
---|---|
VOO Vanguard S&P 500 ETF | 6.76% |
NRK NUVEEN NEW YORK AMT- | 6.24% |
MUI BlackRock Municipal | 6.13% |
NEA Nuveen AMT-Free Qual | 4.93% |
NAD Nuveen Quality Munic | 3% |
Karpus Management, Inc. (the "Reporting Person") is owned by City of London Investment Group plc ("Parent"). Parent also owns City of London Investment Management Company Limited ("CLIM"). There are information barriers and procedures in place to ensure that investment discretion by the Reporting Person is exercised independently from Parent and CLIM. As such, the Reporting Person reports the Section 13(f) positions over which it exercises investment discretion on a separate Form 13F from CLIM.

2024-09-30
13F Activity
Market Value | $3.60b, Prior: $3.55b |
Inflows (Outflows) as % of Total MV | (-2.7076)% |
New Purchases | 24 stocks |
Added To | 50 stocks |
Sold out of | 34 stocks |
Reduced holdings in | 123 stocks |
Top 10 Holdings % | 39.2% |
Turnover %[1] | 22.83% |
Turnover Alt %[2] | 13.81% |
Time Held Top 20 | 12.15 quarters |
Time Held Top 10 | 9 quarters |
Time Held All | 11.74 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-09-30
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data

2024-09-30
Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-09-30