Karpus Investment Management

Karpus Management as of Dec. 31, 2015

Portfolio Holdings for Karpus Management

Karpus Management holds 202 positions in its portfolio as reported in the December 2015 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
AllianceBernstein Income Fund 7.0 $156M 20M 7.67
Vanguard S&p 500 Etf idx (VOO) 5.8 $129M 688k 186.93
Vanguard European ETF (VGK) 3.1 $69M 1.4M 49.88
BlackRock Income Trust 2.7 $60M 9.3M 6.38
Vanguard Small-Cap ETF (VB) 2.2 $48M 437k 110.64
General American Investors (GAM) 2.2 $48M 1.5M 31.94
Nuveen Div Adv Muni Fd 3 Ben Int (NZF) 2.1 $47M 3.2M 14.36
Vanguard Total Stock Market ETF (VTI) 2.1 $46M 439k 104.30
Gabelli Equity Trust (GAB) 1.8 $41M 7.7M 5.31
Tri-Continental Corporation (TY) 1.8 $40M 2.0M 20.02
Invesco Van Kampen Municipal Trust (VKQ) 1.8 $40M 3.1M 12.77
BlackRock Enhanced Dividend Achievers Tr (BDJ) 1.7 $38M 5.0M 7.61
BlackRock Core Bond Trust (BHK) 1.7 $37M 2.9M 12.64
Adams Express Company (ADX) 1.6 $37M 2.9M 12.83
Zweig Total Return 1.6 $35M 2.9M 12.18
Zweig Fund 1.6 $35M 2.7M 13.14
Liberty All-Star Equity Fund (USA) 1.6 $35M 6.5M 5.35
Eaton Vance Municipal Bond Fund (EIM) 1.5 $34M 2.6M 12.98
Invesco Quality Municipal Inc Trust (IQI) 1.5 $34M 2.7M 12.69
MFS Intermediate Income Trust (MIN) 1.5 $33M 7.2M 4.57
BlackRock Credit All Inc Trust IV (BTZ) 1.5 $33M 2.7M 12.34
Nuveen Int Dur Qual Mun Trm 1.3 $29M 2.2M 12.88
Vanguard Pacific ETF (VPL) 1.2 $28M 492k 56.67
Morgan Stanley income sec 1.2 $26M 1.6M 16.87
Invesco Van Kampen Bond Fund (VBF) 1.1 $26M 1.5M 17.57
Gabelli Dividend & Income Trust (GDV) 1.1 $24M 1.3M 18.46
Nuveen Select Quality Municipal Fund 1.1 $24M 1.7M 14.05
Boulder Growth & Income Fund (STEW) 1.1 $23M 3.0M 7.74
Putnam Municipal Opportunities Trust (PMO) 1.0 $23M 1.9M 12.28
Duff & Phelps Utility & Corp Bond Trust 1.0 $23M 2.5M 9.19
Nuveen Municipal Advantage Fund 1.0 $22M 1.6M 13.85
MFS Investment Grade Municipal Trust (CXH) 1.0 $22M 2.2M 9.94
Fort Dearborn Income Securities 1.0 $22M 1.5M 14.51
Allianzgi Equity & Conv In 1.0 $21M 1.2M 17.96
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.9 $21M 867k 24.36
Nuveen Munpl Markt Opp Fund 0.9 $21M 1.5M 13.79
First Trust/Aberdeen Global Opportunity (FAM) 0.9 $20M 2.0M 10.13
Blackrock Science & (BST) 0.9 $20M 1.1M 17.31
Cohen & Steers infrastucture Fund (UTF) 0.9 $19M 998k 19.08
Wstrn Ast Clymr Infltn Lkd Opts & Inc (WIW) 0.9 $19M 1.9M 10.29
Vanguard Mid-Cap ETF (VO) 0.8 $19M 158k 120.11
Swiss Helvetia Fund (SWZ) 0.8 $19M 1.8M 10.56
Invesco Van Kampen Penn Vl MI Trust (VPV) 0.8 $18M 1.4M 12.82
Japan Smaller Capitalizaion Fund (JOF) 0.7 $17M 1.6M 10.23
Nuveen Global Value Opportunities Fund 0.7 $16M 1.5M 10.92
Voya Infrastructure Industrial & Materia (IDE) 0.7 $16M 1.3M 12.26
Federated Premier Intermediate Municipal 0.7 $16M 1.2M 13.46
Vanguard Information Technology ETF (VGT) 0.7 $15M 140k 108.29
Nuveen Quality Income Municipal Fund 0.7 $15M 1.0M 14.18
Vanguard FTSE All-World ex-US ETF (VEU) 0.6 $14M 325k 43.41
Vanguard Total Bond Market ETF (BND) 0.6 $14M 173k 80.76
Tekla Healthcare Opportunit (THQ) 0.6 $14M 796k 17.39
Nuveen Insd Dividend Advantage (NVG) 0.6 $13M 920k 14.48
Blackrock Muni Intermediate Drtn Fnd (MUI) 0.6 $13M 919k 14.17
Asia Pacific Fund 0.6 $13M 1.3M 10.07
BlackRock Global Opportunities Equity Tr (BOE) 0.6 $13M 1.0M 12.76
iShares MSCI Japan Index 0.6 $13M 1.1M 12.12
Nuveen Insured Quality Muncipal Fund 0.5 $12M 846k 13.64
iShares MSCI Canada Index (EWC) 0.5 $11M 527k 21.50
Invesco Van Kampen Muni Opp Trust (VMO) 0.5 $11M 861k 13.17
Lennox International (LII) 0.5 $11M 89k 124.90
AllianceBernstein Natnl Muncpl Incm Fnd. (AFB) 0.5 $11M 814k 13.81
Nuveen Dividend Advantage Municipal Fd 2 0.5 $11M 780k 14.16
New Ireland Fund 0.5 $11M 805k 13.93
Nuveen Dow 30 Dyn Overwrite (DIAX) 0.5 $11M 767k 14.36
Managed Duration Invtmt Grd Mun Fund 0.5 $11M 782k 13.76
Nuveen Ins Ny Tx Fr Adv Mun (NRK) 0.5 $11M 813k 13.13
iShares MSCI ACWI ex US Index Fund (ACWX) 0.4 $9.7M 245k 39.61
Vanguard Emerging Markets ETF (VWO) 0.4 $9.3M 285k 32.71
John Hancock Income Securities Trust (JHS) 0.4 $9.4M 702k 13.43
Voya Global Eq Div & Pr Opp (IGD) 0.4 $9.3M 1.3M 7.00
MUTUAL FUND Gabelli Healthcare & Wellnessr*x (GRX) 0.4 $9.2M 895k 10.25
Invesco Van Kampen Trust For Inv Grd Mun (VGM) 0.4 $9.2M 692k 13.33
Eaton Vance Mun Bd Fd Ii 0.4 $9.1M 691k 13.18
Wells Fargo Adv Global Dividend Opport (EOD) 0.4 $8.8M 1.5M 5.92
Vanguard Short-Term Bond ETF (BSV) 0.4 $8.6M 108k 79.57
Nuveen Nasdaq 100 Dynamic Over (QQQX) 0.4 $8.7M 451k 19.37
Eaton Vance New York Municipal Bond Fund (ENX) 0.4 $8.1M 614k 13.13
Nuveen Premium Income Muni Fund 2 0.3 $7.6M 524k 14.46
Western Asset Premier Bond Fund (WEA) 0.3 $7.7M 631k 12.16
Nuveen Premium Income Municipal Fund 0.3 $7.4M 526k 14.10
Vanguard Europe Pacific ETF (VEA) 0.3 $7.2M 197k 36.72
Eaton Vance Risk Managed Diversified (ETJ) 0.3 $7.1M 702k 10.16
Cutwater Select Income 0.3 $7.1M 389k 18.26
Nexpoint Credit Strategies Fund (NXDT) 0.3 $6.2M 304k 20.44
BlackRock MuniYield Michigan Insured Fnd (MIY) 0.3 $6.0M 429k 13.96
Blackrock Muniholdings Insured Fund II (MUE) 0.2 $5.6M 415k 13.61
BLACKROCK INTL GRWTH & INC T COM Bene Inter (BGY) 0.2 $5.4M 871k 6.24
European Equity Fund (EEA) 0.2 $5.1M 636k 8.06
First Trust Enhanced Equity Income Fund (FFA) 0.2 $5.2M 391k 13.20
Madison Strategic Sector Premium Fund 0.2 $4.6M 427k 10.77
Nuveen Ohio Quality Income M 0.2 $4.5M 293k 15.26
Japan Equity Fund ietf (JEQ) 0.2 $4.5M 584k 7.70
Pacholder High Yield 0.2 $4.2M 684k 6.07
Nuveen Core Equity Alpha Fund (JCE) 0.2 $3.9M 277k 14.27
Van Kampen Advantage Muni Incm Tr II (VKI) 0.2 $3.9M 333k 11.78
Nuveen Mtg opportunity term (JLS) 0.2 $3.9M 172k 22.71
BLACKROCK MUN TARGET TERM TR SHARES Of Ben (BTT) 0.2 $4.0M 187k 21.57
Eaton Vance Mun Income Term Tr (ETX) 0.2 $3.9M 208k 18.49
Singapore Fund 0.2 $3.8M 441k 8.56
Ishares Tr core msci euro (IEUR) 0.2 $3.5M 83k 42.24
BlackRock Enhanced Government Fund (EGF) 0.1 $3.3M 240k 13.65
Nuveen Ny Divid Advntg Mun F (NAN) 0.1 $3.3M 229k 14.23
Lazard World Dividend & Income Fund 0.1 $3.2M 356k 9.11
Nuveen Build Amer Bd Opptny 0.1 $3.4M 167k 20.29
China Fund (CHN) 0.1 $3.2M 205k 15.52
BlackRock LT Municipal Advantage Trust (BTA) 0.1 $3.2M 279k 11.50
BlackRock Insured Municipal Income Trust (BYM) 0.1 $3.2M 212k 14.88
Blackrock MuniHoldings Insured 0.1 $3.1M 228k 13.73
Nuveen Build Amer Bd (NBB) 0.1 $3.1M 155k 20.09
Voya Emerging Markets High I etf (IHD) 0.1 $3.0M 409k 7.40
Cohen & Steers Quality Income Realty (RQI) 0.1 $2.9M 234k 12.22
New Germany Fund (GF) 0.1 $2.9M 196k 14.70
Macquarie Global Infr Total Rtrn Fnd 0.1 $2.9M 154k 19.05
Lazard Global Total Return & Income Fund (LGI) 0.1 $2.6M 202k 13.08
Western Ast Clymr Infl Lkd Sc & Incm (WIA) 0.1 $2.8M 260k 10.57
Morgan Stanley Emerging Markets Fund 0.1 $2.4M 189k 12.85
Western Asset Income Fund (PAI) 0.1 $2.5M 195k 13.02
BlackRock New York Insured Municipal 0.1 $2.4M 177k 13.72
Dividend & Income Fund (BXSY) 0.1 $2.4M 219k 11.01
Voya Asia Pacific High Div Equity Income Fund (IAE) 0.1 $2.3M 259k 9.03
Aberdeen Australia Equity Fund (IAF) 0.1 $2.2M 407k 5.45
Morgan Stanley Asia Pacific Fund 0.1 $2.3M 168k 13.83
Eaton V.Tax-Advantaged Dividend Inc Fund (EVT) 0.1 $2.2M 115k 19.34
Nuveen PA Investnt Quality Municipal (NQP) 0.1 $2.2M 161k 13.70
Madison Covered Call Eq Strat (MCN) 0.1 $2.3M 306k 7.38
Ishares msci uk 0.1 $2.1M 132k 16.14
Invesco Van Kampen Senior Income Trust (VVR) 0.1 $2.1M 516k 4.04
LMP Real Estate Income Fund 0.1 $1.7M 130k 13.04
Templeton Emerging Markets (EMF) 0.1 $1.8M 182k 9.97
BlackRock MuniYield Insured Investment 0.1 $1.7M 121k 14.10
Eaton Vance Oh Muni Income T sh ben int 0.1 $1.7M 121k 14.02
Spdr S&p 500 Etf (SPY) 0.1 $1.7M 8.1k 203.81
EATON VANCE MI Municipal 0.1 $1.6M 120k 13.13
Franklin Templeton (FTF) 0.1 $1.6M 147k 10.72
Alliance California Municipal Income Fun 0.1 $1.5M 108k 14.09
DTF Tax Free Income (DTF) 0.1 $1.5M 101k 15.11
Jpmorgan China Region 0.1 $1.5M 98k 15.32
Cohen & Steers Total Return Real (RFI) 0.1 $1.3M 102k 12.60
Nuveen Nj Div Advantage Mun (NXJ) 0.1 $1.4M 100k 13.50
Deutsche High Income Opport 0.1 $1.4M 105k 13.06
Dt Asia Invts 0.1 $1.4M 137k 9.99
C B Pharma Acquisition Corp 0.1 $1.3M 132k 9.95
iShares MSCI Emerging Markets Indx (EEM) 0.1 $1.1M 34k 32.18
Morgan Stanley China A Share Fund (CAF) 0.1 $1.2M 61k 19.91
Templeton Dragon Fund (TDF) 0.1 $1.1M 64k 17.80
iShares S&P Europe 350 Index (IEV) 0.1 $1.0M 25k 40.12
Eaton Vance Pa Muni Income T sh ben int 0.1 $1.1M 90k 12.08
Nuveen Conn Prem Income Mun sh ben int 0.1 $1.0M 80k 12.76
Allianzgi Nfj Divid Int Prem S cefs 0.1 $1.1M 89k 12.39
Garnero Group Acquisition 0.1 $1.0M 104k 9.81
Exxon Mobil Corporation (XOM) 0.0 $1.0M 13k 78.01
Morgan Stanley India Investment Fund (IIF) 0.0 $831k 33k 25.48
iShares MSCI EMU Index (EZU) 0.0 $904k 26k 35.06
Aberdeen Asia-Pacific Income Fund (FAX) 0.0 $858k 188k 4.57
Nuveen Premier Mun Income 0.0 $906k 66k 13.66
Western Asset Municipal Partners Fnd 0.0 $907k 58k 15.61
Nuveen Michigan Qlity Incom Municipal 0.0 $987k 72k 13.68
BlackRock Insured Municipal Income Inves 0.0 $863k 58k 14.78
Blackstone Gso Strategic (BGB) 0.0 $832k 62k 13.38
Gabelli mutual funds - (GGZ) 0.0 $826k 79k 10.40
Voya International Div Equity Income 0.0 $896k 141k 6.36
Constellation Brands (STZ) 0.0 $604k 4.2k 142.45
Eaton Vance Tax-Managed Global Dive Eq (EXG) 0.0 $684k 77k 8.85
Putnam High Income Securities Fund 0.0 $748k 102k 7.31
Aberdeen Latin Amer Eqty 0.0 $777k 51k 15.25
Blackrock New York Municipal Bond Trust 0.0 $718k 48k 14.86
BlackRock Municipal Bond Investment Tst 0.0 $709k 47k 14.97
Delaware Invt Nat Muni Inc F sh ben int (VFL) 0.0 $633k 49k 12.98
Dreyfus Mun Bd Infrastructure 0.0 $758k 61k 12.39
Walt Disney Company (DIS) 0.0 $493k 4.7k 105.03
Kimberly-Clark Corporation (KMB) 0.0 $515k 4.0k 127.41
Pepsi (PEP) 0.0 $357k 3.6k 100.00
BlackRock Floating Rate Income Strat. Fn (FRA) 0.0 $469k 36k 12.90
Market Vectors Short Municipal Index ETF 0.0 $387k 22k 17.51
Guggenheim Enhanced Equity Income Fund. 0.0 $343k 45k 7.68
Nuveen Insured Tax-Free Adv Munici (NEA) 0.0 $542k 39k 13.86
Putnam Managed Municipal Income Trust (PMM) 0.0 $339k 46k 7.36
Nuveen Maryland Premium Income Municipal 0.0 $379k 30k 12.68
MFS Government Markets Income Trust (MGF) 0.0 $394k 74k 5.30
Constellation Brands 0.0 $384k 2.7k 142.43
Guggenheim Enhanced Equity Strategy 0.0 $405k 26k 15.79
Alpine Global Dynamic 0.0 $499k 56k 8.84
Microsoft Corporation (MSFT) 0.0 $298k 5.4k 55.47
McDonald's Corporation (MCD) 0.0 $224k 1.9k 117.89
Home Depot (HD) 0.0 $288k 2.2k 132.11
Johnson & Johnson (JNJ) 0.0 $213k 2.1k 102.60
3M Company (MMM) 0.0 $233k 1.5k 150.81
Paychex (PAYX) 0.0 $270k 5.1k 52.80
Intel Corporation (INTC) 0.0 $206k 6.0k 34.40
Air Products & Chemicals (APD) 0.0 $221k 1.7k 130.00
Procter & Gamble Company (PG) 0.0 $214k 2.7k 79.64
Gabelli Global Multimedia Trust (GGT) 0.0 $136k 18k 7.48
Nuveen Multi-Strategy Inc & Growth Fd 2 (JQC) 0.0 $305k 39k 7.83
Korea Equity Fund 0.0 $158k 23k 6.96
BlackRock Enhanced Capital and Income (CII) 0.0 $168k 12k 14.14
Eaton Vance Pa Mun Bd 0.0 $136k 10k 13.20
Gsi 0.0 $209k 15k 13.62
Nuveen Tax-Advantaged Total Return Strat 0.0 $209k 18k 11.68
Eaton Vance Nj Muni Income T sh ben int 0.0 $195k 15k 12.69
Mexico Equity and Income Fund (MXE) 0.0 $132k 12k 10.76
Taiwan Fund (TWN) 0.0 $304k 21k 14.61