Karpus Investment Management

Karpus Management as of Sept. 30, 2015

Portfolio Holdings for Karpus Management

Karpus Management holds 204 positions in its portfolio as reported in the September 2015 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
AllianceBernstein Income Fund 6.7 $144M 18M 7.86
Vanguard S&p 500 Etf idx (VOO) 6.6 $143M 813k 175.71
Vanguard European ETF (VGK) 3.7 $80M 1.6M 49.18
BlackRock Income Trust 2.6 $56M 8.9M 6.31
Vanguard Small-Cap ETF (VB) 2.1 $46M 427k 107.95
Nuveen Div Adv Muni Fd 3 Ben Int (NZF) 2.0 $43M 3.2M 13.56
General American Investors (GAM) 2.0 $43M 1.4M 30.98
Montgomery Street Income Securities 1.9 $41M 2.4M 17.40
Eaton Vance Municipal Bond Fund (EIM) 1.9 $41M 3.3M 12.51
Invesco Van Kampen Municipal Trust (VKQ) 1.8 $39M 3.2M 12.28
Tri-Continental Corporation (TY) 1.8 $38M 2.0M 19.50
BlackRock Enhanced Dividend Achievers Tr (BDJ) 1.6 $35M 4.9M 7.20
Adams Express Company (ADX) 1.6 $35M 2.7M 12.75
BlackRock Core Bond Trust (BHK) 1.6 $35M 2.7M 12.92
Gabelli Equity Trust (GAB) 1.5 $33M 6.3M 5.22
Liberty All-Star Equity Fund (USA) 1.4 $31M 6.1M 5.08
Invesco Quality Municipal Inc Trust (IQI) 1.4 $30M 2.5M 12.15
Vanguard Total Stock Market ETF (VTI) 1.3 $27M 278k 98.72
Vanguard Pacific ETF (VPL) 1.2 $26M 491k 53.69
Nuveen Int Dur Qual Mun Trm 1.2 $26M 2.1M 12.44
Invesco Van Kampen Bond Fund (VBF) 1.2 $26M 1.5M 17.63
Morgan Stanley income sec 1.2 $25M 1.4M 17.38
BlackRock Credit All Inc Trust IV (BTZ) 1.1 $24M 2.0M 12.17
Invesco Van Kampen Muni Opp Trust (VMO) 1.1 $24M 1.9M 12.58
MFS Intermediate Income Trust (MIN) 1.1 $24M 5.3M 4.55
Federated Enhanced Treasury 1.1 $23M 1.7M 13.52
Nuveen Multi-Strategy Inc & Growth Fd 2 (JQC) 1.1 $23M 2.9M 7.98
Boulder Growth & Income Fund (STEW) 1.1 $23M 3.1M 7.45
Putnam Municipal Opportunities Trust (PMO) 1.0 $23M 1.9M 11.96
Wstrn Ast Clymr Infltn Lkd Opts & Inc (WIW) 1.0 $22M 2.1M 10.40
Nuveen Select Quality Municipal Fund 1.0 $22M 1.6M 13.37
Gabelli Dividend & Income Trust (GDV) 1.0 $22M 1.2M 17.56
Fort Dearborn Income Securities 1.0 $22M 1.5M 14.10
Duff & Phelps Utility & Corp Bond Trust 1.0 $21M 2.2M 9.48
Cohen & Steers infrastucture Fund (UTF) 0.9 $20M 1.1M 19.07
Vanguard Mid-Cap ETF (VO) 0.9 $20M 172k 116.67
Swiss Helvetia Fund (SWZ) 0.9 $20M 1.8M 10.86
Zweig Fund 0.9 $20M 1.6M 12.83
Nuveen Municipal Advantage Fund 0.8 $18M 1.3M 13.31
MFS Investment Grade Municipal Trust (CXH) 0.8 $18M 1.8M 9.75
Allianzgi Equity & Conv In 0.8 $18M 1.0M 17.19
Zweig Total Return 0.8 $17M 1.5M 11.42
Gabelli mutual funds - (GGZ) 0.8 $16M 1.6M 9.92
Vanguard Information Technology ETF (VGT) 0.7 $16M 156k 100.00
Nuveen Munpl Markt Opp Fund 0.7 $16M 1.2M 13.10
Nuveen Global Value Opportunities Fund 0.7 $16M 1.5M 10.19
Japan Smaller Capitalizaion Fund (JOF) 0.7 $16M 1.5M 10.17
iShares MSCI Canada Index (EWC) 0.7 $15M 641k 23.00
SPDR Nvn Barclys Cptl Shrt Trm Mncpl Bnd 0.7 $14M 574k 24.36
Voya Infrastructure Industrial & Materia (IDE) 0.7 $14M 1.1M 12.26
Nuveen Quality Income Municipal Fund 0.6 $14M 999k 13.49
Asia Pacific Fund 0.6 $13M 1.3M 10.30
Cutwater Select Income 0.6 $13M 685k 19.08
Eaton V.Tax-Advantaged Dividend Inc Fund (EVT) 0.6 $13M 703k 18.38
Federated Premier Intermediate Municipal 0.6 $13M 986k 13.15
Invesco Van Kampen Penn Vl MI Trust (VPV) 0.6 $13M 1.0M 12.26
Vanguard Emerging Markets ETF (VWO) 0.6 $12M 370k 33.09
BlackRock Global Opportunities Equity Tr (BOE) 0.6 $12M 1.0M 12.10
Blackstone Gso Strategic (BGB) 0.6 $12M 851k 14.21
Vanguard Europe Pacific ETF (VEA) 0.5 $11M 305k 35.64
New Ireland Fund 0.5 $11M 816k 13.45
Nuveen Insd Dividend Advantage (NVG) 0.5 $11M 775k 13.93
Invesco Van Kampen Trust For Inv Grd Mun (VGM) 0.5 $10M 800k 12.93
Lennox International (LII) 0.5 $10M 90k 113.33
Blackrock Muniholdings Insured Fund II (MUE) 0.5 $9.9M 746k 13.23
John Hancock Income Securities Trust (JHS) 0.5 $9.7M 694k 13.94
Nuveen Nasdaq 100 Dynamic Over (QQQX) 0.5 $9.6M 557k 17.23
Blackrock Science & Technology Trust 0.5 $9.6M 608k 15.85
Blackrock Res & Commodities Strategy Tr (BCX) 0.4 $9.1M 1.3M 7.10
Nuveen Insured Quality Muncipal Fund 0.4 $8.9M 683k 13.02
Eaton Vance Mun Bd Fd Ii 0.4 $8.7M 692k 12.55
Nuveen Premium Income Muni Fund 2 0.4 $8.4M 612k 13.65
Wells Fargo Adv Global Dividend Opport (EOD) 0.4 $8.4M 1.4M 5.91
First Trust/Aberdeen Global Opportunity (FAM) 0.4 $8.3M 861k 9.68
Voya Global Eq Div & Pr Opp (IGD) 0.4 $8.4M 1.2M 6.95
MUTUAL FUND Gabelli Healthcare & Wellnessr*x (GRX) 0.4 $8.2M 847k 9.69
WisdomTree Japan Total Dividend (DXJ) 0.4 $8.2M 170k 48.66
Eaton Vance New York Municipal Bond Fund (ENX) 0.4 $8.2M 651k 12.60
Western Asset Premier Bond Fund (WEA) 0.4 $8.0M 645k 12.45
Nexpoint Credit Strategies 0.3 $7.4M 1.3M 5.72
Nuveen Premium Income Municipal Fund 0.3 $7.1M 527k 13.40
Vanguard FTSE All-World ex-US ETF (VEU) 0.3 $6.9M 163k 42.63
Nuveen Dow 30 Dyn Overwrite (DIAX) 0.3 $6.9M 512k 13.48
AllianceBernstein Natnl Muncpl Incm Fnd. (AFB) 0.3 $6.7M 502k 13.29
Eaton Vance Risk Managed Diversified (ETJ) 0.3 $6.8M 704k 9.60
Nuveen Dividend Advantage Municipal Fd 2 0.3 $6.7M 494k 13.62
Western Ast Clymr Infl Lkd Sc & Incm (WIA) 0.3 $6.0M 569k 10.55
Vanguard Short-Term Bond ETF (BSV) 0.3 $5.8M 73k 80.40
Managed Duration Invtmt Grd Mun Fund 0.3 $5.8M 436k 13.33
Vanguard Total Bond Market ETF (BND) 0.3 $5.5M 67k 81.93
Cohen & Steers Total Return Real (RFI) 0.3 $5.6M 473k 11.88
BLACKROCK MUN TARGET TERM TR SHARES Of Ben (BTT) 0.2 $5.1M 249k 20.38
European Equity Fund (EEA) 0.2 $5.1M 650k 7.78
Transamerica Income Shares 0.2 $5.0M 230k 21.66
iShares MSCI ACWI ex US Index Fund (ACWX) 0.2 $4.7M 120k 39.05
Singapore Fund 0.2 $4.7M 544k 8.64
Nuveen Core Equity Alpha Fund (JCE) 0.2 $4.5M 329k 13.78
Van Kampen Advantage Muni Incm Tr II (VKI) 0.2 $4.4M 389k 11.35
Ishares msci uk 0.2 $4.2M 257k 16.39
China Fund (CHN) 0.2 $3.9M 244k 15.91
BlackRock Enhanced Government Fund (EGF) 0.2 $3.8M 278k 13.78
Blackrock MuniHoldings Insured 0.2 $4.0M 306k 12.91
Nuveen Mtg opportunity term (JLS) 0.2 $3.9M 173k 22.40
Invesco Van Kampen Trust for IGNYM Fund (VTN) 0.2 $3.7M 268k 13.78
BlackRock Insured Municipal Income Trust (BYM) 0.2 $3.6M 261k 13.80
BlackRock MuniYield Insured Investment 0.2 $3.6M 264k 13.50
Eaton Vance Mun Income Term Tr (ETX) 0.2 $3.6M 208k 17.32
Japan Equity Fund ietf (JEQ) 0.2 $3.7M 545k 6.86
iShares MSCI Japan Index 0.2 $3.5M 304k 11.43
Aberdeen Australia Equity Fund (IAF) 0.2 $3.5M 646k 5.36
Voya Emerging Markets High I etf (IHD) 0.2 $3.5M 458k 7.71
Western Asset Income Fund (PAI) 0.1 $3.2M 243k 13.19
Morgan Stanley China A Share Fund (CAF) 0.1 $2.9M 130k 22.44
Morgan Stanley Emerging Markets Fund 0.1 $3.0M 239k 12.64
BlackRock LT Municipal Advantage Trust (BTA) 0.1 $3.1M 280k 11.01
Nuveen Ins Ny Tx Fr Adv Mun (NRK) 0.1 $3.1M 248k 12.59
Nuveen Ny Divid Advntg Mun F (NAN) 0.1 $3.1M 230k 13.42
Nuveen Build Amer Bd (NBB) 0.1 $3.0M 155k 19.65
Cohen & Steers Quality Income Realty (RQI) 0.1 $2.8M 246k 11.30
New Germany Fund (GF) 0.1 $2.8M 195k 14.41
Invesco Van Kampen Senior Income Trust (VVR) 0.1 $2.8M 662k 4.18
Templeton Emerging Markets (EMF) 0.1 $2.4M 216k 11.03
BlackRock MuniHolding Insured Investm 0.1 $2.5M 174k 14.13
Madison Strategic Sector Premium Fund 0.1 $2.4M 229k 10.67
Macquarie Global Infr Total Rtrn Fnd 0.1 $2.3M 118k 19.27
Morgan Stanley Asia Pacific Fund 0.1 $2.1M 164k 12.95
Lazard Global Total Return & Income Fund (LGI) 0.1 $2.1M 171k 12.53
BLACKROCK INTL GRWTH & INC T COM Bene Inter (BGY) 0.1 $2.2M 354k 6.07
Nuveen PA Investnt Quality Municipal (NQP) 0.1 $2.1M 162k 13.12
Lazard World Dividend & Income Fund 0.1 $2.2M 243k 9.11
DTF Tax Free Income (DTF) 0.1 $2.0M 135k 14.61
Nuveen Build Amer Bd Opptny 0.1 $1.8M 94k 19.42
Franklin Templeton (FTF) 0.1 $1.6M 151k 10.90
Alliance California Municipal Income Fun 0.1 $1.7M 123k 13.68
BlackRock MuniYield Michigan Insured Fnd (MIY) 0.1 $1.7M 128k 13.18
Voya Asia Pacific High Div Equity Income Fund (IAE) 0.1 $1.8M 208k 8.56
Templeton Dragon Fund (TDF) 0.1 $1.6M 86k 18.68
BlackRock New York Insured Municipal 0.1 $1.4M 110k 12.95
Eaton Vance Oh Muni Income T sh ben int 0.1 $1.6M 117k 13.30
Jpmorgan China Region 0.1 $1.5M 107k 14.32
iShares MSCI EMU Index (EZU) 0.1 $1.4M 41k 34.33
EATON VANCE MI Municipal 0.1 $1.3M 101k 12.47
Blackrock Muni Intermediate Drtn Fnd (MUI) 0.1 $1.4M 99k 13.92
LMP Real Estate Income Fund 0.1 $1.4M 111k 12.28
Nuveen Nj Div Advantage Mun (NXJ) 0.1 $1.3M 99k 12.82
First Trust Active Dividend Income Fund 0.1 $1.4M 176k 7.82
Dt Asia Invts 0.1 $1.4M 137k 9.95
C B Pharma Acquisition Corp 0.1 $1.3M 132k 9.92
Spdr S&p 500 Etf (SPY) 0.1 $1.1M 5.6k 191.57
Royce Micro Capital Trust (RMT) 0.1 $1.1M 137k 7.74
Nuveen Insured Municipal Opp. Fund 0.1 $991k 70k 14.10
Aberdeen Latin Amer Eqty 0.1 $971k 60k 16.18
BlackRock Insured Municipal Income Inves 0.1 $1.2M 83k 13.98
Nuveen Conn Prem Income Mun sh ben int 0.1 $993k 81k 12.31
Garnero Group Acquisition 0.1 $1.1M 107k 9.86
Exxon Mobil Corporation (XOM) 0.0 $864k 12k 74.36
Morgan Stanley India Investment Fund (IIF) 0.0 $765k 29k 26.39
Aberdeen Asia-Pacific Income Fund (FAX) 0.0 $845k 188k 4.50
Nuveen Premier Mun Income 0.0 $775k 59k 13.04
Putnam High Income Securities Fund 0.0 $766k 109k 7.05
Nuveen Ohio Quality Income M 0.0 $797k 55k 14.39
BlackRock Muni New York Intr. Dur. Fnd. 0.0 $871k 63k 13.89
Western Asset Municipal Partners Fnd 0.0 $961k 64k 14.91
Nuveen Michigan Qlity Incom Municipal 0.0 $957k 73k 13.20
Eaton Vance Pa Muni Income T sh ben int 0.0 $811k 68k 11.89
Madison Covered Call Eq Strat (MCN) 0.0 $801k 113k 7.08
Eaton Vance Tax-Managed Global Dive Eq (EXG) 0.0 $541k 65k 8.30
Putnam Managed Municipal Income Trust (PMM) 0.0 $696k 97k 7.15
BlackRock Municipal Bond Investment Tst 0.0 $680k 47k 14.35
Delaware Invt Nat Muni Inc F sh ben int (VFL) 0.0 $628k 49k 12.80
Walt Disney Company (DIS) 0.0 $480k 4.7k 102.19
Kimberly-Clark Corporation (KMB) 0.0 $441k 4.0k 109.10
Constellation Brands (STZ) 0.0 $531k 4.2k 125.24
BlackRock Floating Rate Income Strat. Fn (FRA) 0.0 $471k 36k 12.95
LMP Corporate Loan Fund 0.0 $495k 48k 10.27
Market Vectors Short Municipal Index ETF 0.0 $387k 22k 17.51
Guggenheim Enhanced Equity Income Fund. 0.0 $410k 57k 7.21
Nuveen Insured Tax-Free Adv Munici (NEA) 0.0 $509k 39k 13.02
Nuveen Maryland Premium Income Municipal 0.0 $368k 30k 12.31
MFS Government Markets Income Trust (MGF) 0.0 $416k 78k 5.37
Blackrock New York Municipal Bond Trust 0.0 $510k 37k 13.90
Taiwan Fund (TWN) 0.0 $332k 23k 14.45
Constellation Brands 0.0 $337k 2.7k 125.00
Dividend & Income Fund (BXSY) 0.0 $505k 47k 10.86
Home Depot (HD) 0.0 $208k 1.8k 115.56
3M Company (MMM) 0.0 $219k 1.5k 141.75
Paychex (PAYX) 0.0 $246k 5.2k 47.71
Air Products & Chemicals (APD) 0.0 $217k 1.7k 127.65
Apple (AAPL) 0.0 $201k 1.8k 110.44
International Business Machines (IBM) 0.0 $290k 2.0k 145.00
Pepsi (PEP) 0.0 $214k 2.3k 94.27
Gabelli Global Multimedia Trust (GGT) 0.0 $137k 18k 7.53
Korea Equity Fund 0.0 $135k 19k 7.18
Eaton Vance Enhanced Equity Income Fund (EOI) 0.0 $159k 13k 11.91
iShares Lehman 1-3 Year Treas.Bond (SHY) 0.0 $302k 3.6k 84.95
Eaton Vance Pa Mun Bd 0.0 $126k 10k 12.23
Federated Premier Municipal Income (FMN) 0.0 $317k 22k 14.38
Mfs Calif Mun 0.0 $166k 15k 10.97
First Trust Enhanced Equity Income Fund (FFA) 0.0 $205k 17k 12.43
Gsi 0.0 $195k 15k 12.71
Nuveen Tax-Advantaged Total Return Strat 0.0 $218k 19k 11.27
Mexico Equity and Income Fund (MXE) 0.0 $168k 15k 10.98
Voya International Div Equity Income 0.0 $152k 24k 6.35
Pacholder High Yield 0.0 $64k 10k 6.30