Karpus Management, Inc.

Q4 2025 13F Holdings Report, Stock Holdings

Signature - Title
Jodi Hedberg - Chief Compliance Officer
Location
Pittsford, NY
Holdings as of
31 Dec 2025
Value $
$489,030,780
Num holdings
100
Filing time
13 Feb 2026, 16:13:25 UTC
Form type
13F-HR
Description
All US holdings of this investor are reported in this report. Top holdings included ECCU, OFSSO, SPME, SAT, and OXSQH.
Previous filing
Q3 2025 - 14 Nov 2025
SEC
View on sec.gov
This filing has been restated, see here for the amended filing
Sym Weight Trade Impact Company Class Share Change Activity Value Change $ Value $ * Price $ Shares Principal
Filing 2025 Q4 compared to 2025 Q3 by default. Changes are calculated vs the previous SEC filing.
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.

Person Signing this Report on Behalf of Reporting Manager:

Name Title City, State Date
Jodi Hedberg Chief Compliance Officer Pittsford, New York 13 Feb 2026

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.