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Portfolio (Quarterly) Guide ↗

Karpus Management, Inc.

· CIK 0001048703
13F Portfolio $3.3B AUM 214 positions Filed Feb 17, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 35 New 67 Added 81 Reduced 25 Exited
Page 10 of 11  ·  214 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
181 STONEBRIDGE ACQ CRP II; TNT ACQ DT: 4/3/2027; CASH: $10.00 96,775.0 $963K 0.03% NEW $9.95
182 OAK WOODS ACQ CRP; TNT ACQ DT: 3/24/2024; CASH: $10.175 76,700.0 $928K 0.03% -273K -78.0% $12.10
183 ROMAN DBDR ACQ CRP II; TNT ACQ DT: 12/17/2026; CASH: $10.05 87,325.0 $911K 0.03% -550.0 -0.6% $10.43
184 GIGCAPITAL8 ACQ CRP ; TNT ACQ DT: 10/6/2027; CASH: $10.00 89,950.0 $890K 0.03% NEW $9.89
185 AFJK AIMEI ACQ CRP; TNT ACQ DT: 12/02/2024; CASH: $10.10 Financial Services 78,075.0 $888K 0.03% -948K -92.4% $11.37 +260.6%
186 FOUR LEAF ACQ CRP; TNT ACQ DT: 3/17/2024; CASH: $10.30 73,238.0 $844K 0.03% $11.52
187 MSFT MICROSOFT CORP COM Technology 1,700.0 $822K 0.03% $483.62 -15.3%
188 JCE NUVEEN CORE EQUITY ALPHA FUND COM Financial Services 49,077.0 $782K 0.02% NEW $15.94 +1.9%
189 LLY LILLY ELI & CO COM Healthcare 680.0 $731K 0.02% $1074.68 -6.3%
190 ORCL ORACLE CORP COM Technology 3,550.0 $692K 0.02% $194.91 +0.4%
191 EQV VENTURES ACQ CRPV; TNT ACQ DT: 8/7/2026; CASH: $10.00 65,800.0 $690K 0.02% $10.49
192 NBH NUEBERGER BERMAN MUNICIPAL FUND INC Financial Services 68,199.0 $690K 0.02% NEW $10.12 +1.9%
193 AA MISSION ACQ CRP II; TNT ACQ DT: 10/1/2027; CASH: $10.00 66,850.0 $664K 0.02% NEW $9.94
194 BIL SPDR BLOOMBERG 1-3 MONTH T-BILL ETF 6,290.0 $575K 0.02% $91.38 +0.2%
195 PYROPHYTE ACQ CRP; TNT ACQ DT: 7/17/2027; CASH: $10.00 50,000.0 $503K 0.01% NEW $10.06
196 APEX TREASURY ACQ CRP UNIT; TNT ACQ DT: 10/28/2027; CASH: $10.00 49,675.0 $497K 0.01% NEW $10.01
197 HD HOME DEPOT INC COM Consumer Cyclical 1,400.0 $482K 0.01% $344.10 -11.6%
198 IEMG ISHARES CORE MSCI EMERGING MARKETS ETF 6,605.0 $444K 0.01% -190.0 -2.8% $67.22 +18.3%
199 ACWX ISHARES TR MSCI ACWI EX US 5,935.0 $398K 0.01% $67.13 +9.8%
200 PAYX PAYCHEX INC Industrials 3,290.0 $369K 0.01% NEW $112.18 -20.8%
Page 10 of 11  ·  214 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Financial Services 99.7%
Healthcare 0.1%
Technology 0.1%
Communication Services 0.0%
Consumer Cyclical 0.0%
Industrials 0.0%