# Karpus Management, Inc.: Form 13F holdings

An institutional investment manager in Pittsford, NY. SEC CIK 1048703.

- Quarter ended: 2026-06-30
- Filed: 2026-08-14
- Reported value: $3.48bn
- Positions: 233 (233 lines in the filing's table; lines for the same security and option type are added together here)
- Compared with: the 13F for the quarter ended 2026-03-31
- Filing: https://www.sec.gov/Archives/edgar/data/1048703/000107261326000683/

## Holdings

As filed, largest first. Reported value is what the manager stated at the quarter end (Jun 30, 2026), in US dollars; it is filing data, not a price. Weight is the share of the total reported value.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| VANGUARD INDEX FDS S&P 500 ETF SH | S&P 500 ETF SHS | $251.7m | 7.2% | 366,496 |  | Reduced −26,376 |
| [BLACKROCK MUNIHOLDINGS FUND INC (MHD)](/companies/mhd.md) | COM | $235.8m | 6.8% | 19,816,954 |  | Reduced −216,439 |
| VANGUARD BD INDEX FD INC LONG TERM BOND | LONG TERM BOND | $147.0m | 4.2% | 2,132,736 |  | Added +162,408 |
| [BLACKROCK 2030 MUNICIPAL TARGET TERM TRUST (BTT)](/companies/btt.md) | COM SHS BEN IN | $105.6m | 3.0% | 4,641,247 |  | Reduced −48,066 |
| VANGUARD INDEX FDS SMALL CP ETF | SMALL CP ETF | $96.9m | 2.8% | 319,556 |  | Reduced −2,128 |
| [BLACKROCK MUNIYIELD NEW YORK QUALITY FUND INC (MYN)](/companies/myn.md) | COM | $80.6m | 2.3% | 7,938,637 |  | Reduced −220,786 |
| VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF | FTSE EMR MKT ETF | $77.3m | 2.2% | 1,294,280 |  | Reduced −27,294 |
| VANGUARD INTL EQUITY INDEX FD ALLWRLD EX US | ALLWRLD EX US | $76.4m | 2.2% | 911,846 |  | Reduced −64,873 |
| ISHARES LEHMAN 20plus YR TREAS | 20 YR TR BD ETF | $76.3m | 2.2% | 882,953 |  | Added +609,538 |
| WESTERN ASSET CLYM INFL SEC IN COM SH BEN INT | COM SH BEN INT | $70.3m | 2.0% | 8,648,798 |  | Added +302,388 |
| [BlackRock MuniYield Quality Fund III (MYI)](/companies/myi.md) | COM | $60.5m | 1.7% | 5,442,103 |  | Reduced −234,550 |
| ISHARES CORE S&P500 ETF | CORE S&P500 ETF | $60.4m | 1.7% | 80,591 |  | Reduced −10,199 |
| [ANGEL OAK FINANCIAL STRATEGIES INCOME TERM TRUST (FINS)](/companies/fins.md) | COM BEN INT | $59.6m | 1.7% | 4,654,677 |  | Reduced −43,169 |
| [BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND (MUC)](/companies/muc.md) | COM | $50.6m | 1.5% | 4,603,531 |  | Reduced −776,322 |
| [NEUBERGER BERMAN NEXT GENERATION CONNECTIVITY FUND (NBXG)](/companies/nbxg.md) | COMMON STOCK | $49.3m | 1.4% | 2,981,177 |  | Reduced −87,923 |
| VANGUARD CORE TAX EXEMPT BOND ETF | CORE TAX EXEMPT | $46.9m | 1.3% | 613,630 |  | Added +23,571 |
| GABELLI DIVD & INCOME TR COM | COM | $42.5m | 1.2% | 1,444,270 |  | Reduced −55,430 |
| [CALAMOS STRAT TOT RETURN FD (CSQ)](/companies/csq.md) | COM SH BEN INT | $42.2m | 1.2% | 2,052,204 |  | Added +107,581 |
| [NUVEEN NAS100 DYN OVERWRT FD (QQQX)](/companies/qqqx.md) | COM SHS | $42.0m | 1.2% | 1,393,850 |  | Reduced −243,109 |
| VANGUARD BD INDEX FD INC TOTAL BND MRKT | TOTAL BND MRKT | $41.5m | 1.2% | 565,055 |  | Added +215,468 |
| [ALLIANCE NATIONAL MUNICIPAL INCOME FUND (AFB)](/companies/afb.md) | COM | $41.1m | 1.2% | 3,603,262 |  | Added +1,050,144 |
| VANGUARD FTSE PACIFIC ETF | FTSE PACIFIC ETF | $39.0m | 1.1% | 337,048 |  | Reduced −30,773 |
| ISHARES TR CORE MSCI EURO | CORE MSCI EURO | $36.2m | 1.0% | 481,445 |  | Reduced −11,092 |
| [BLACKROCK SCIENCE & TECH TR (BST)](/companies/bst.md) | SHS | $32.4m | 0.9% | 639,482 |  | Added +76,573 |
| ISHARES LEHMAN 7-10YR TREAS | 7-10 YR TRSY BD | $31.4m | 0.9% | 331,612 |  | Added +304,401 |
| ISHARES RUSSELL 1000 ETF | RUS 1000 ETF | $30.5m | 0.9% | 74,490 |  | Reduced −10,606 |
| SC ACQ CRP II; TNT ACQ DT: 5/25/2027; CASH: $10.00 | ORD SHS CLASS A | $29.5m | 0.8% | 2,942,837 |  | Reduced −83,642 |
| DRUGS MADE IN AMERICA ACQ CRP II; TNT ACQ DT: 9/25/2027; CASH: $10.00 | USD ORD SHS | $28.0m | 0.8% | 2,787,998 |  | Added +190,075 |
| [BLACKROCK MUNIYIELD QUALITY (MQY)](/companies/mqy.md) | COM | $28.0m | 0.8% | 2,414,908 |  | Reduced −201,986 |
| DRUGS MADE IN AMERICA ACQ CRP: 4/28/2026; CASH: $10.05 | ORD SHS | $26.7m | 0.8% | 2,507,817 |  | Reduced −22,700 |
| APOGEE ACQ CRP; TNT ACQ DT: 7/07/2027; CASH: $10.05 | ORD SHS CL A | $26.3m | 0.8% | 2,648,075 |  | New +2,648,075 |
| VANGUARD INDEX FDS TOTAL STK MKT | TOTAL STK MKT | $25.4m | 0.7% | 68,670 |  | Reduced −12,001 |
| [DWS MUNICIPAL INCOME TRUST (KTF)](/companies/ktf.md) | COM | $25.4m | 0.7% | 2,760,957 |  | Reduced −530,059 |
| VANGUARD INTL EQUITY INDEX FD FTSE EUROPE ETF | FTSE EUROPE ETF | $25.1m | 0.7% | 283,483 |  | Reduced −5,344 |
| [LIBERTY ALL-STAR GROWTH FD (ASG)](/companies/asg.md) | COM | $24.9m | 0.7% | 4,548,670 |  | Added +328,182 |
| [CALAMOS GLOBAL DYNAMIC INCOME FUND (CHW)](/companies/chw.md) | COM | $21.9m | 0.6% | 2,460,540 |  | Added +269,121 |
| FINANCIAL SELECT SECTOR SPDR | ST STR FINL ETF | $21.8m | 0.6% | 405,788 |  | Added +1 |
| [EATON VANCE TAX-ADV GLOBAL DIV OPP FUND (ETO)](/companies/eto.md) | COM | $21.6m | 0.6% | 699,132 |  | Added +53,336 |
| AI INFRASTRUCTURE ACQ CRP; TNT ACQ DT: 4/3/2027; CASH: $10.00 | ORD SHS CL A | $20.6m | 0.6% | 2,009,049 |  | Reduced −57,149 |
| TAVIA ACQ CRP; TNT ACQ DT: 6/4/2026; CASH: $10.05 | SHS | $20.2m | 0.6% | 1,893,627 |  | Reduced −283,575 |
| [BLACKROCK INCOME TR INC COM (BKT)](/companies/bkt.md) | COM NEW | $19.6m | 0.6% | 1,828,427 |  | Reduced −22,625 |
| ISHARES EMU ETF | MSCI EURZONE ETF | $19.4m | 0.6% | 278,697 |  | Reduced −1,600 |
| VANGUARD WORLD FDS INF TECH ETF | INF TECH ETF | $19.3m | 0.6% | 161,378 |  | Added +140,498 |
| [LIBERTY ALL-STAR EQUITY FUND (USA)](/companies/usa.md) | SH BEN INT | $19.0m | 0.5% | 3,271,867 |  | Added +155,356 |
| MCKINLEY ACQ CRP; TNT ACQ DT: 8/12/2027; CASH: $10.00 | SHS CL A | $18.5m | 0.5% | 1,825,871 |  | Reduced −77,500 |
| AGRICULTURE & NATURAL SOLUTIONS ACQ CRP; TNT ACQ DT: 11/10/2025; CASH: $10.00 | SHS CL A | $18.4m | 0.5% | 1,613,968 |  | Reduced −48,475 |
| ISHARES MSCI CDA ETF | MSCI CDA ETF | $18.3m | 0.5% | 317,284 |  | Added +2,992 |
| PIMCO CALIFORNIA MUNICIPAL INC | COM | $18.2m | 0.5% | 2,031,479 |  | Added +252,546 |
| PACER GLOBAL CASH COWS DIVIDEND | GLOBL CASH ETF | $17.9m | 0.5% | 413,372 |  | Added +21,416 |
| RF ACQUISITION CORP II. TNT ACQ DT: 11/21/2025; CASH: $10.05 | SHS | $17.9m | 0.5% | 1,619,533 |  | Reduced −21,200 |
| VANGUARD GROWTH ETF | GROWTH ETF | $17.4m | 0.5% | 201,907 |  | Added +168,102 |
| [BLACKROCK CORE BD TR SHS BEN INT (BHK)](/companies/bhk.md) | SHS BEN INT | $17.0m | 0.5% | 1,858,353 |  | Reduced −21,225 |
| [EATON VANCE MUN BD FD COM (EIM)](/companies/eim.md) | COM | $16.5m | 0.5% | 1,660,000 |  | Reduced −636,254 |
| WHITE PEARL ACQ CRP; TNT ACQ DT: 7/30/2027; CASH: $10.00 | ORD SHS CL A | $16.4m | 0.5% | 1,641,020 |  | Added +38,425 |
| COPLEY ACQ CRP; TNT ACQ DT: 4/30/2027; CASH: $10.05 | ORD SHS CL A | $15.8m | 0.5% | 1,510,297 |  | Reduced −16,530 |
| [Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund (ETW)](/companies/etw.md) | COM | $15.6m | 0.4% | 1,616,305 |  | Reduced −9,098 |
| JPMORGAN BETABUILDERS JAPAN ETF | BETABULDRS JAPAN | $15.4m | 0.4% | 204,173 |  | Reduced −26,564 |
| CHARLTON ASIA ACQ CRP; TNT ACQ DT: 04/24/2026; CASH: $10.025 | ORD SHS CL A | $15.2m | 0.4% | 1,410,653 |  | Reduced −7,457 |
| GLOBA TERRA ACQ CRP; TNT ACQ DT: 10/08/2026; CASH: $10.00 | CL A ORD SHS | $15.1m | 0.4% | 1,461,112 |  | Reduced −9,575 |
| ISHARES CORE DIVIDEND GROWTH ETF | CORE DIV GRWTH | $14.9m | 0.4% | 196,580 |  | Added +1,502 |
| VERNAL CAPITAL ACQ CRP; TNT ACQ DT: 2/6/2028; CASH: $10.00 | ORD SHS | $14.8m | 0.4% | 1,484,400 |  | New +1,484,400 |
| BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST | COM | $14.6m | 0.4% | 1,206,786 |  | Reduced −4,956 |
| [BLACKROCK SCIENCE AND TECHNOLOGY TRUST II (BSTZ)](/companies/bstz.md) | SHS BEN INT | $14.5m | 0.4% | 483,321 |  | Added +73,390 |
| WESTIN ACQ CRP; TNT ACQ DT: 5/4/2027; CASH: $10.00 | ORD SHS CL A | $14.0m | 0.4% | 1,388,365 |  | Reduced −1,425 |
| ACP ACQ CRP; TNT ACQ DT: 10/7/2027; CASH: $10.05 | CL A | $13.4m | 0.4% | 1,348,625 |  | New +1,348,625 |
| BLACKROCK ENHANCED INTERNATIONAL DIVIDEND TRUST | COM BENE INTER | $13.4m | 0.4% | 2,327,943 |  | Added +378,256 |
| ORIGIN ACQ CRP; TNT ACQ DT: 7/1/2027; CASH: $10.10 | ORD SHS | $13.3m | 0.4% | 1,286,528 |  | Added +410,800 |
| MFS INTER INCOME TR SH BEN INT | SH BEN INT | $13.1m | 0.4% | 5,323,675 |  | Added +47,765 |
| K&F GROWTH ACQ CRP; TNT ACQ DT: 11/05/2026; CASH: $10.05 | SHS CL A | $13.1m | 0.4% | 1,245,037 |  | Reduced −72,100 |
| VENDOME ACQ CRP; TNT ACQ DT: 7/1/2027; CASH: $10.00 | COM CL A | $12.7m | 0.4% | 1,247,903 |  | Added +162,850 |
| LAKE SUPERIOR ACQ CRP; TNT ACQ DT: 4/7/2027; CASH: $10.00 | USD CL A ORD SHS | $12.7m | 0.4% | 1,249,608 |  | Reduced −34,425 |
| APEX TREAUSRY ACQ CRP; TNT ACQ DT: 10/28/2027; CASH: $10.00 | ORD SHS CL A | $12.6m | 0.4% | 1,253,557 |  | Added +90,000 |
| BHAV ACQ CRP; TNT ACQ DT: 6/19/2027; CASH: $10.00 | CL A ORD SHS | $12.6m | 0.4% | 1,267,457 |  | New +1,267,457 |
| SPACSPHERE ACQ CRP; TNT ACQ DT: 5/5/2027; CASH: $10.00 | CL A SHS | $12.5m | 0.4% | 1,248,875 |  | Added +31,665 |
| CHENGHE ACQ CRP III; TNT ACQ DT: 3/16/2027; CASH: $10.00 | ORD SHS CL A | $11.9m | 0.3% | 1,176,550 |  | Reduced −12,000 |
| FIGX CAPITAL ACQ CRP; TNT ACQ DT: 6/27/2027; CASH: $10.00 | USD CL A ORD SHS | $11.9m | 0.3% | 1,163,324 |  | Added +723,375 |
| APEX TECH ACQ CRP; TNT ACQ DT: 5/26/2027; CASH: $10.00 | ORD SHS | $11.7m | 0.3% | 1,171,450 |  | New +1,171,450 |
| FUTURE MONEY ACQ CRP; TNT ACQ DT: 12/26/2027; CASH: $10.05 | ORD SHS | $11.6m | 0.3% | 1,163,950 |  | New +1,163,950 |
| EATON VANCE TAX-MAN GLOBAL EQUITY FUND | COM | $11.4m | 0.3% | 1,166,515 |  | Reduced −11,977 |
| EATON VANCE TAX-ADV DVD INC | COM | $11.4m | 0.3% | 412,721 |  | Reduced −3,654 |
| [GABELLI EQUITY TRUST INC (GAB)](/companies/gab.md) | COM | $11.2m | 0.3% | 1,973,929 |  | New +1,973,929 |
| [MORGAN STANLEY INDIA INVS FD COM (IIF)](/companies/iif.md) | COM | $10.9m | 0.3% | 477,621 |  | Added +81,933 |
| [ALLSPRING GLOBAL DIVIDEND OPPORTUNITY FUND (EOD)](/companies/eod.md) | COM | $10.6m | 0.3% | 1,620,995 |  | Reduced −44,581 |
| MELAR ACQ CRP; TNT ACQ DT: 6/18/2025; CASH: $10.00 | SHS CL A | $10.5m | 0.3% | 961,303 |  | Reduced −27,202 |
| [JOHN HANCOCK HEDGED EQUITY & INCOME FUND (HEQ)](/companies/heq.md) | COM | $10.4m | 0.3% | 909,620 |  | Added +391,119 |
| QUARTZSEA ACQ CRP; TNT ACQ DT: 6/18/2026; CASH: $10.00 | ORD SHS | $10.3m | 0.3% | 974,765 |  | Reduced −1,282,040 |
| [ABRDN AUSTRALIA EQUITY FUND (IAF)](/companies/iaf.md) | COM | $10.2m | 0.3% | 822,927 |  | Added +111,740 |
| ISHARES MSCI SOUTH KOREA IND | MSCI STH KOR ETF | $10.2m | 0.3% | 50,375 |  | Reduced −25,100 |
| MS CHINA A SHARE | COM | $10.1m | 0.3% | 482,293 |  | Added +9,030 |
| INFLECTION POINT ACQUISITION CORP. V | ORD SHS CL A | $10.1m | 0.3% | 962,657 |  | Reduced −44,486 |
| [MainStay CBRE GLOBAL INFRASTRUCTURE MEGATRENDS FUND (MEGI)](/companies/megi.md) | COM | $10.0m | 0.3% | 656,967 |  | Added +147,858 |
| EMMIS ACQ CRP; TNT ACQ DT: 3/25/2027; CASH: $10.00 | SHS CL A | $9.9m | 0.3% | 981,161 |  | Unchanged |
| ART TECHNOLOGY ACQ CRP; TNT ACQ DT: 4/6/2028; CASH: $10.00 | USD CL A ORD SHS | $9.7m | 0.3% | 973,200 |  | New +973,200 |
| GIGCAPITAL8 ACQ CRP ; TNT ACQ DT: 10/6/2027; CASH: $10.00 | ORD CL A | $9.5m | 0.3% | 945,625 |  | Reduced −18,025 |
| [TEMPLETON DRAGON FD INC COM (TDF)](/companies/tdf.md) | COM | $9.5m | 0.3% | 871,955 |  | Added +2,071 |
| ISHARES MSCI DENMARK ETF | MSCI DENMARK ETF | $9.4m | 0.3% | 85,230 |  | Added +6,475 |
| [JOHN HANCOCK INCOME SECURITIES TRUST (JHS)](/companies/jhs.md) | COM | $9.3m | 0.3% | 846,161 |  | Added +313,463 |
| [VIRTUS ALLIANZGI ARTIFICIAL INTELLIGENCE & TECHNOLOGY OPP FD (AIO)](/companies/aio.md) | COM | $9.1m | 0.3% | 324,291 |  | Added +130,659 |
| [COLUMBIA SELIGMAN PREMIUM TECH (STK)](/companies/stk.md) | COM | $9.1m | 0.3% | 168,899 |  | Reduced −17,469 |
| ISHARES BRAZIL ETF | MSCI BRAZIL ETF | $9.0m | 0.3% | 261,401 |  | Added +8,002 |
| PANTAGES CAPITAL ACQUISITION C | ORD SHS CL A | $8.7m | 0.3% | 820,275 |  | Reduced −11,225 |
| NMP ACQ CRP; TNT ACQ DT: 1/2/2027; CASH: $10.00 | CL A | $8.7m | 0.3% | 849,065 |  | Reduced −18,725 |
| OXLEY BRIDGE ACQ CRP; TNT ACQ DT: 6/25/2027; CASH: $10.00 | USD CL A ORD SHS | $8.6m | 0.2% | 846,175 |  | Reduced −15,800 |
| [WESTERN ASSET INV GRA DEF OP (IGI)](/companies/igi.md) | COM | $8.5m | 0.2% | 529,003 |  | Added +145,661 |
| YHN ACQ CRP; TNT ACQ DT: 12/18/2025; CASH: $10.05 | SHS | $8.3m | 0.2% | 760,451 |  | Reduced −5,250 |
| OYSTER ENTERPRICES ACQ CRP II; TNT ACQ DT: 5/22/2027; CASH: $10.00 | ORD SHS CL A | $8.3m | 0.2% | 803,996 |  | Added +145,935 |
| HARVARD AVE ACQ CRP; TNT ACQ DT: 4/30/2027; CASH:$10.00 | USD CL A ORD SHS | $8.2m | 0.2% | 814,093 |  | Added +188,178 |
| GIGCAPITAL9 ACQ CRP; TNT ACQ DT: 1/27/2028; CASH: $10.00 | CL A | $8.1m | 0.2% | 812,032 |  | Reduced −3,300 |
| CROWN RESERVE ACQUSITION CORP | ORD SHS CL A | $7.9m | 0.2% | 781,300 |  | Reduced −26,025 |
| [PIMCO NEW YORK MUNICIPAL II (PNI)](/companies/pni.md) | COM | $7.9m | 0.2% | 1,113,329 |  | Added +377,694 |
| KOCHAV DEFENSE ACQ CRP; TNT ACQ DT: 11/28/2026; CASH: $10.00 | SHS CL A | $7.6m | 0.2% | 729,294 |  | Reduced −34,725 |
| PEACE ACQ CRP; TNT ACQ DT: 8/22/2027; CASH: $10.05 | ORD SHS | $7.3m | 0.2% | 733,675 |  | New +733,675 |
| BLUEPOINT AVE ACQ CRP; TNT ACQ DT: 2/12/2027; CASH: $10.00 | USD CL A ORD SHS | $7.2m | 0.2% | 714,525 |  | Reduced −2,100 |
| [Duff & Phelps Utility & Inc (DPG)](/companies/dpg.md) | COM | $7.1m | 0.2% | 481,585 |  | Reduced −51,615 |
| [CO2 ENERGY TRANSITION ACQ CRP; TNT ACQ DT: 5/21/2026; CASH: $10.05 (NOEM)](/companies/noem.md) | COM | $7.0m | 0.2% | 671,571 |  | Reduced −58,100 |
| ISHARES EUROPE ETF | EUROPE ETF | $6.8m | 0.2% | 93,457 |  | Reduced −19,104 |
| INDIGO ACQ CRP; TNT ACQ DT: 03/30/2027; CASH: $10.00 | ORD SHS | $6.7m | 0.2% | 655,847 |  | Reduced −750 |
| OCEANHAWK ACQ CRP; TNT ACT DT: 11/21/2027; CASH: $10.05 | CL A ORD SHS | $6.7m | 0.2% | 672,300 |  | New +672,300 |
| BLACKROCK HEALTH SCIENCES | COM | $6.0m | 0.2% | 140,338 |  | Reduced −1,104 |
| SOULPOWER ACQ CRP; TNT ACQ DT: 4/2/2027; CASH: $10.00 | USD CL A ORD SHS | $5.8m | 0.2% | 560,248 |  | Reduced −22,342 |
| [BNY MELLON STRATEGIC MUNICIPAL BOND FUND INC (DSM)](/companies/dsm.md) | COM | $5.8m | 0.2% | 936,572 |  | Reduced −3,600 |
| PIONEER ACQ CRP; TNT ACQ DT: 6/18/2027; CASH: $10.00 | CL A ORD SHS | $5.6m | 0.2% | 551,988 |  | Added +50,000 |
| THAYER VENTURES ACQ CRP II; TNT ACQ DT:3/15/2027; CASH:$10.00 | CL A | $5.6m | 0.2% | 541,900 |  | Reduced −1,675 |
| QUASAREDGE ACQ CRP; TNT ACQ DT: 7/15/2027; CASH: $10.00 | ORD SHS | $5.5m | 0.2% | 553,175 |  | New +553,175 |
| WEN ACQ CRP; TNT ACQ DT: 5/16/2027; CASH: $10.00 | COM CL A | $5.3m | 0.2% | 518,500 |  | Reduced −500 |
| MFS GOVT MKTS INCOME TR SH BEN INT | SH BEN INT | $5.3m | 0.2% | 1,855,499 |  | Added +111,340 |
| FUTURE VISION ACQ CRP II; TNT ACQ DT: 03/21/2026; CASH: $10.05 | SHS | $5.2m | 0.2% | 479,169 |  | Reduced −1,475 |
| LIGHTWAVE ACQ CRP; TNT ACQ DT: 6/25/2027; CASH: $10.00 | USD CL A ORD SHS | $5.2m | 0.1% | 510,050 |  | Reduced −6,550 |
| DYNAMIX ACQ CRP III; TNT ACQ DT: 8/26/2027; CASH: $10.00 | USD CL A ORD SHS | $5.0m | 0.1% | 498,200 |  | Reduced −3,350 |
| [JAPAN SMALLER CAPTLZTN FD INC COM (JOF)](/companies/jof.md) | COM | $4.9m | 0.1% | 417,754 |  | Reduced −18,700 |
| NEWBURY STREET ACQ CRP II; TNT ACQ DT: 10/31/2026; CASH: $10.05 | ORD SHS CL A | $4.9m | 0.1% | 461,231 |  | Reduced −112,281 |
| K2 CAPITAL ACQ CRP; TNT ACQ DT: 7/28/2027; CASH: $10.00 | ORD SHS CL A | $4.9m | 0.1% | 490,700 |  | New +490,700 |
| CALISA ACQ CRP; TNT ACQ DT: 4/22/2027; CASH: $10.00 | ORD SHS | $4.8m | 0.1% | 473,675 |  | Reduced −26,675 |
| QUANTUMSPHERE ACQ CRP; TNT ACQ DT: 2/6/2027; CASH: $10.00 | ORD SHS | $4.8m | 0.1% | 469,875 |  | Reduced −24,000 |
| STONEBRIDGE ACQ CRP II; TNT ACQ DT: 4/3/2027; CASH: $10.00 | CL A SHS | $4.7m | 0.1% | 465,125 |  | Added +31,575 |
| LAFAYETTE ACQUISTION CORP | ORD SHS | $4.7m | 0.1% | 465,925 |  | Added +3,485 |
| [COHEN & STEERS INFRASTRUCTURE (UTF)](/companies/utf.md) | COM | $4.7m | 0.1% | 169,607 |  | Added +130 |
| [EATON VANCE ENHANCED EQUITY IN (EOS)](/companies/eos.md) | COM | $4.7m | 0.1% | 211,237 |  | Added +100,705 |
| VANGUARD BD INDEX FD INC SHORT TRM BOND | SHORT TRM BOND | $4.6m | 0.1% | 58,845 |  | Reduced −550 |
| XFLH ACQ CRP; TNT ACQ DT: 58/11/2027; CASH: $10.00 | ORD SHS | $4.5m | 0.1% | 448,750 |  | Added +223,900 |
| WEST ENCLAVE ACQ CRP; TNT ACQ DT: 1/30/2028; CASH: $10.10 | ORDINARY SHARES | $4.4m | 0.1% | 439,253 |  | New +439,253 |
| DIMENSIONAL INTERNATIONAL SMALL CAP VALUE ETF | INTL SMALL CAP V | $4.2m | 0.1% | 105,610 |  | New +105,610 |
| CSLM DIGITAL ASSET ACQ CRP III; TNT ACQ DT: 8/26/2027; CASH: $10.00 | USD CL A ORD SHS | $4.2m | 0.1% | 410,000 |  | Unchanged |
| SILVER PEGASUS ACQ CRP; TNT ACQ DT: 1/15/2027; CASH: $10.00 | SHS CL A | $4.1m | 0.1% | 397,042 |  | Reduced −7,500 |
| QDRO ACQ CRP; TNT ACQ DT: 9/26/2027; CASH: $10.00 | ORD SHS CL A | $4.0m | 0.1% | 399,050 |  | New +399,050 |
| SOREN ACQ CRP; TNT ACQ DT: 1/7/2028; CASH: $10.00 | USD CL A ORD SHS | $3.6m | 0.1% | 361,700 |  | New +361,700 |
| CAL REDWOOD ACQ CRP; TNT ACQ DT: 5/23/2027; CASH:$10.00 | COM CL A | $3.6m | 0.1% | 346,940 |  | Unchanged |
| HIGHVIEW ACQ CRP; TNT ACQ DT: 8/12/2027; CASH: $10.00 | ORD SH CL A | $3.5m | 0.1% | 344,650 |  | Added +147,450 |
| VANGUARD SHORT-TERM TAX-EXEMPT BOND ETF | SHORT TRM TAX EX | $3.5m | <0.1% | 34,250 |  | Reduced −700 |
| [RIVERNORTH FLEXIBLE MUNICIPAL INCOME FUND II (RFMZ)](/companies/rfmz.md) | COM | $3.5m | <0.1% | 254,285 |  | Reduced −8,900 |
| TITAN ACQ CRP; TNT ACQ DT: 4/8/2027; CASH: $10.05 | CL A | $3.5m | <0.1% | 331,950 |  | Reduced −8,750 |
| SIDDHI ACQ CRP; TNT ACQ DT: 4/1/2027; CASH: $10.05 | CL A SHS | $3.4m | <0.1% | 323,420 |  | Reduced −15,450 |
| [NUVEEN CORE EQUITY ALPHA FUND COM (JCE)](/companies/jce.md) | COM | $3.3m | <0.1% | 199,137 |  | Added +14,941 |
| XSOLLA ACQ CRP; TNT ACQ DT: 1/28/2028; CASH: $10.00 | USD CL A ORD SHS | $3.2m | <0.1% | 320,225 |  | New +320,225 |
| STELLAR V CAPITAL ACQ CRP; TNT ACQ DT: 6/20/2026; CASH: $10.07 | SHS CL A | $3.1m | <0.1% | 294,000 |  | Unchanged |
| UY SCUTI ACQ CRP; TNT ACQ DT: 9/30/2026; CASH: $10.00 | ORD SHS | $3.0m | <0.1% | 284,991 |  | Reduced −11,290 |
| [First Trust ENH Equity Inc (FFA)](/companies/ffa.md) | COM | $3.0m | <0.1% | 134,313 |  | Reduced −617 |
| RANGE CAPITAL ACQ CRP; TNT ACQ DT: 6/20/2026; CASH: $10.05 | ORD SHS | $2.8m | <0.1% | 265,540 |  | Unchanged |
| [CLOUGH GLOBAL OPPORTUNITIES FUND (GLO)](/companies/glo.md) | SH BEN INT | $2.8m | <0.1% | 451,041 |  | Added +73,853 |
| SOLARIUS ACQ CRP; TNT ACQ DT: 4/16/2027; CASH: $10.05 | SHS CL A | $2.8m | <0.1% | 268,615 |  | Unchanged |
| BLUE WATER ACQ CRP III; TNT ACQ DT: 06/10/2027; CASH: $10.00 | ORD SHS CL A | $2.6m | <0.1% | 256,995 |  | Reduced −2,775 |
| ITHAX ACQ CRP III; TNT ACQ DT: 12/12/2027; CASH: $10.00 | USD CL A ORD SHS | $2.6m | <0.1% | 265,404 |  | Added +1,250 |
| ARMADA ACQ CRP II; TNT ACQ DT: 5/16/2027; CASH: $10.00 | COM CL A | $2.6m | <0.1% | 253,925 |  | Reduced −5,375 |
| LAUNCH TWO ACQ CRP; TNT ACQ DT: 01/7/2026; CASH: $10.05 | ORD SHS CL A | $2.6m | <0.1% | 244,400 |  | Reduced −2,000 |
| [WESTERN ASSET INCOME FD COM (PAI)](/companies/pai.md) | COM | $2.5m | <0.1% | 206,018 |  | New +206,018 |
| ARC GROUP ACQ CRP; TNT ACQ DT: 7/30/2027; CASH: $10.00 | CL A ORD SHS | $2.4m | <0.1% | 247,600 |  | New +247,600 |
| ANDRETTI ACQ CRP II; TNT ACQ DT: 9/6/2026; CASH: $10.05 | ORD SHS CL A | $2.4m | <0.1% | 223,650 |  | Reduced −15,000 |
| LAKESHORE ACQ CRP III; TNT ACQ DT: 7/30/2026; CASH:$10.00 | USD ORD SHS | $2.4m | <0.1% | 229,575 |  | Reduced −71,300 |
| TWELVE SEAS ACQ CRP III; TNT ACQ DT: 12/12/2027; CASH: $10.00 | ORD SHS CL A | $2.4m | <0.1% | 237,715 |  | Reduced −40,000 |
| RIBBON ACQ CRP; TNT ACQ DT: 1/15/2026; CASH: $10.00 | ORD SHS CL A | $2.3m | <0.1% | 218,287 |  | Unchanged |
| LAFAYETTE DIGITAL ACQ CRP; TNT ACQ DT: 1/9/2028; CASH: $10.00 | ORD CLASS A | $2.3m | <0.1% | 226,957 |  | Added +99,200 |
| [INVESCO BD FD COM (VBF)](/companies/vbf.md) | COM | $2.1m | <0.1% | 139,624 |  | Added +67,593 |
| EQV VENTURES ACQ CRP II; TNT ACQ DT: 7/1/2027; CASH: $10.00 | ORD SHS CL A | $2.0m | <0.1% | 200,000 |  | New +200,000 |
| SIZZLE ACQ CRP II; TNT ACQ DT: 4/2/2027; CASH: $10.00 | USD CL A ORD SHS | $1.9m | <0.1% | 180,585 |  | Reduced −3,150 |
| [KKR INCOME OPPORTUNITIES FUND (KIO)](/companies/kio.md) | COM | $1.8m | <0.1% | 162,934 |  | Reduced −5,759 |
| [BLACKROCK HEALTH SCIENCES TERM (BMEZ)](/companies/bmez.md) | COM SHS | $1.8m | <0.1% | 117,615 |  | Reduced −60 |
| [SPDR S&P 500 ETF TR TR UNIT (SPY)](/companies/spy.md) | TR UNIT | $1.8m | <0.1% | 2,391 |  | Reduced −5 |
| COHEN CIRCLE ACQ CRP UNIT II; TNT ACQ DT: 7/1/2027; CASH: $10.00 | UNIT 07/01/2030 | $1.7m | <0.1% | 163,600 |  | Reduced −3,700 |
| TAILWIND 2.0 ACQ CRP; TNT ACQ DT: 11/7/2027; CASH: $10.00 | ORD SHS CL A | $1.7m | <0.1% | 165,736 |  | Reduced −11,350 |
| MOUNTAIN CREST ACQ CRP VI; TNT ACQ DT: 4/30/2027; CASH: $10.00 | ORD SHS | $1.7m | <0.1% | 167,500 |  | New +167,500 |
| VANGUARD ST TAX-EXEMPT BOND ETF | SHORT TAX EXEMPT | $1.6m | <0.1% | 21,000 |  | New +21,000 |
| GESHER ACQ CRP; TNT ACQ DT: 12/21/2026; CASH: $10.03 | USD CL A ORD SHS | $1.5m | <0.1% | 148,200 |  | Reduced −800 |
| RENATUS TACTICAL ACQ CRP UNIT; TNT ACQ DT: 5/15/2027; CASH: $10.025 | UNIT 05/15/2030 | $1.5m | <0.1% | 139,394 |  | Reduced −850 |
| CHAMPIONSGATE ACQ CRP; TNT ACQ DT: 11/27/2026; CASH: $10.05 | SHS CL A | $1.5m | <0.1% | 142,060 |  | Added +4,680 |
| Collective Acquisition Corp | SHS CL A | $1.5m | <0.1% | 141,000 |  | Unchanged |
| BTC DEVELOPMENT ACQ CRP UNIT; TNT ACQ DT: 4/16/2027; CASH: $10.05 | UNIT 09/11/2030 | $1.5m | <0.1% | 143,000 |  | Reduced −2,800 |
| SPDR SER TR NUVN BR SHT MUNI | ST NUVE TERM ETF | $1.4m | <0.1% | 29,400 |  | Reduced −77,950 |
| VANGUARD TAX-EXEMPT BOND ETF | TAX EXEMPT BD | $1.4m | <0.1% | 27,022 |  | Unchanged |
| [VIRTUS GLOBAL DIVIDEND & INCOME FUND (ZTR)](/companies/ztr.md) | COM | $1.3m | <0.1% | 183,208 |  | Reduced −292,558 |
| [BLACKROCK CR ALLCTN INC TR COM (BTZ)](/companies/btz.md) | COM | $1.2m | <0.1% | 120,175 |  | Reduced −1,075 |
| MAYWOOD ACQ CRP II; TNT ACQ DT: 7/14/2027; CASH: $10.00 | ORD SHS CL A USD | $1.2m | <0.1% | 121,422 |  | New +121,422 |
| CLOUGH GLOBAL EQUITY FUND | COM | $1.2m | <0.1% | 138,971 |  | Added +50,543 |
| ABRDN NATIONAL MUNICIPAL INC | SH BEN INT | $1.2m | <0.1% | 114,275 |  | Added +71,818 |
| PONO CAPITAL IV ACQ CRP; TNT ACQ DT: 9/13/2027; CASH: $10.00 | CL A ORD SHS | $1.1m | <0.1% | 109,525 |  | New +109,525 |
| BREEZE ACQ CRP II; TNT ACQ DT: 5/13/2027; CASH: $10.03 | ORD SHS | $1.1m | <0.1% | 110,000 |  | New +110,000 |
| DT CLOUD STAR ACQ CRP; TNT ACQ DT: 10/25/2025;  CASH: $10.05 | SHS | $1.1m | <0.1% | 96,600 |  | Unchanged |
| SPDR BLOOMBERG 1-3 MONTH T-BILL ETF | ST STR BLO 1 ETF | $1.1m | <0.1% | 11,590 |  | Added +350 |
| [ROYCE MICRO-CAP TRUST INC (RMT)](/companies/rmt.md) | COM | $917.2k | <0.1% | 62,653 |  | Reduced −350 |
| AIMEI ACQ CRP; TNT ACQ DT: 12/02/2024; CASH: $10.10 | SHS | $888.5k | <0.1% | 77,125 |  | Unchanged |
| [NUEBERGER BERMAN MUNICIPAL FUND INC (NBH)](/companies/nbh.md) | COM | $863.2k | <0.1% | 81,821 |  | Reduced −1,200 |
| SPRING VALLEY ACQ CRP IV UNIT; TNT ACQ DT: 2/10/2028; CASH: $10.00 | UNIT 01/22/2031 | $855.9k | <0.1% | 82,775 |  | Reduced −17,225 |
| AA MISSION ACQ CRP II; TNT ACQ DT: 10/1/2027; CASH: $10.00 | ORD SHS CL A | $854.2k | <0.1% | 84,075 |  | Added +17,900 |
| BLUEROCK ACQ CRP; TNT ACQ DT: 12/11/2027; CASH: $10.00 | USD CL A ORD SHS | $848.3k | <0.1% | 85,000 |  | Unchanged |
| [LILLY ELI & CO COM (LLY)](/companies/lly.md) | COM | $815.6k | <0.1% | 680 |  | Unchanged |
| ROMAN DBDR ACQ CRP II; TNT ACQ DT: 12/17/2026; CASH: $10.05 | ORD SHS CL A | $814.1k | <0.1% | 77,275 |  | Unchanged |
| COLLECTIVE ACQ CRP II; TNT ACQ DT: 10/29/2027; CASH: $10.05 | ORD SHS CL A | $809.1k | <0.1% | 81,725 |  | New +81,725 |
| BITCOIN INFRASTRUCTURE ACQ CRP; TNT ACQ DT: 12/2/2027; CASH: $10.00 | USD CL A ORD SHS | $806.7k | <0.1% | 80,711 |  | Reduced −1,700 |
| [IRON HORSE ACQ CRP II; TNT ACQ DT: 12/17/2027; CASH: $10.00 (IRHO)](/companies/irho.md) | COM | $789.1k | <0.1% | 78,675 |  | Added +33,675 |
| [ROYCE SMALL-CAP TRUST INC (RVT)](/companies/rvt.md) | COM | $638.5k | <0.1% | 34,568 |  | Added +18,480 |
| [MICROSOFT CORP COM (MSFT)](/companies/msft.md) | COM | $634.1k | <0.1% | 1,700 |  | Unchanged |
| GENERAL PURPOSE ACQ CRP; TNT ACQ DT: 12/04/2027; CASH: $10.00 | USD CL A ORD SHS | $582.8k | <0.1% | 58,275 |  | Unchanged |
| [ORACLE CORP COM (ORCL)](/companies/orcl.md) | COM | $520.3k | <0.1% | 3,550 |  | Unchanged |
| [FEDERATED PREMIER MUNICIPAL INCOME FUND (FMN)](/companies/fmn.md) | COM | $519.2k | <0.1% | 45,191 |  | Unchanged |
| PYROPHYTE ACQ CRP; TNT ACQ DT: 7/17/2027; CASH: $10.00 | CL A SHS | $510.0k | <0.1% | 50,000 |  | Unchanged |
| ISHARES CORE MSCI EMERGING MARKETS ETF | CORE MSCI EMKT | $505.7k | <0.1% | 6,105 |  | Reduced −221 |
| [HOME DEPOT INC COM (HD)](/companies/hd.md) | COM | $493.8k | <0.1% | 1,400 |  | Unchanged |
| APEX TREASURY ACQ CRP UNIT; TNT ACQ DT: 10/28/2027; CASH: $10.00 | UNIT 10/07/2030 | $453.7k | <0.1% | 44,051 |  | Reduced −2,149 |
| [JOHN HANCOCK FINANCIAL OPPOR (BTO)](/companies/bto.md) | SH BEN INT NEW | $382.3k | <0.1% | 9,698 |  | New +9,698 |
| ISHARES TR MSCI ACWI EX US | MSCI ACWI EX US | $349.3k | <0.1% | 4,590 |  | Reduced −1,345 |
| ISHARES LEHMAN AGG BOND FUND | CORE US AGGBD ET | $335.0k | <0.1% | 3,385 |  | Unchanged |
| [ABBVIE INC COM (ABBV)](/companies/abbv.md) | COM | $264.2k | <0.1% | 1,050 |  | Unchanged |
| [AMGEN INC COM (AMGN)](/companies/amgn.md) | COM | $246.2k | <0.1% | 680 |  | Unchanged |
| [DTF TAX-FREE INCOME INC COM (DTF)](/companies/dtf.md) | COM | $221.9k | <0.1% | 19,211 |  | Unchanged |
| VANGUARD TOTAL WORLD STOCK ETF | TT WRLD ST ETF | $221.3k | <0.1% | 1,410 |  | Reduced −410 |
| AMERICAN DRIVE ACQ CRP; TNT ACQ DT: 12/17/2027; CASH: $10.00 | USD CL A ORD SHS | $220.4k | <0.1% | 22,000 |  | Unchanged |
| [DISNEY WALT CO COM DISNEY (DIS)](/companies/dis.md) | COM | $213.2k | <0.1% | 2,215 |  | Unchanged |
| [NEW GERMANY FUND (GF)](/companies/gf.md) | COM | $198.1k | <0.1% | 17,287 |  | Reduced −349,894 |
| INSIGHT DIGITAL PARTNERS ACQ CRP II UNIT; TNT ACQ DT: 10/29/2027; CASH: $10.00 | UNIT 10/28/2030 | $196.7k | <0.1% | 19,375 |  | Reduced −175 |
| [PUTNAM MUNI OPPORTUNITIES (PMO)](/companies/pmo.md) | SH BEN INT | $178.7k | <0.1% | 16,955 |  | Reduced −46,689 |
| MILUNA ACQ CRP; TNT ACQ DT: 4/23/2027; CASH: $10.00 | USD CL A ORD SHS | $175.2k | <0.1% | 17,328 |  | Added +2,548 |
| GALATA ACQ CRP II; TNT ACQ DT: 9/19/2027; CASH: $10.00 | ORD SHS CL A | $151.7k | <0.1% | 15,000 |  | Unchanged |
| [PUTNAM PREMIER INCOME TRUST (PPT)](/companies/ppt.md) | SH BEN INT | $144.0k | <0.1% | 41,262 |  | Unchanged |
| PLUM ACQ CRP IV; TNT ACQ DT: 7/15/2026; CASH: $10.10 | SHS CL A | $125.4k | <0.1% | 11,750 |  | Reduced −650,450 |

## Sold out

Held at the end of the quarter before and not reported this quarter.

| Issuer | Class | Reported value | Weight | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | ---: | --- | --- |
| AA MISSION ACQ CRP; TNT ACQ DT: 8/1/2026; CASH: $10.05 | ORD SHS CL A | $0 | 0.0% | 0 |  | Sold out −20,000 |
| ABERDEEN TOTAL DYNAMIC DIVID | COM SH BEN INT | $0 | 0.0% | 0 |  | Sold out −11,500 |
| A PARADISE ACQ CRP; TTNT ACQ DT: 7/30/2027; CASH: $10.00 | COM CL A | $0 | 0.0% | 0 |  | Sold out −654,061 |
| ARMADA CQ CRP UNIT II; TNT ACQ DT: 5/16/2027; CASH: $10.00 | UNIT 05/21/2030 | $0 | 0.0% | 0 |  | Sold out −299,800 |
| AXIOM INTELLGENCE ACQ CRP; TNT ACQ DT: 6/18/2027; CASH: $10.00 | ORD SHS CL A | $0 | 0.0% | 0 |  | Sold out −102,500 |
| BEST SPAC ACQ CRP; TNT ACQ DT: 12/13/2026; CASH: $10.00 | USD CL A ORD SHS | $0 | 0.0% | 0 |  | Sold out −170,501 |
| BLUE ACQ CRP; TNT ACQ DT: 03/13/2027; CASH: $10.00 | ORD SHS CL A | $0 | 0.0% | 0 |  | Sold out −645,990 |
| [EATON VANCE TAX-ADV GLOBAL DIV INCOME FUND (ETG)](/companies/etg.md) | COM | $0 | 0.0% | 0 |  | Sold out −387,327 |
| EUREKA ACQ CRP; TNT ACQ DT: 1/12/2026; CASH $10.00 | SHS CL A | $0 | 0.0% | 0 |  | Sold out −200,925 |
| FLAG SHIP ACQ CRP; TNT ACQ DT: 6/18/2025; CASH $10.00 | ORD SHS | $0 | 0.0% | 0 |  | Sold out −727,825 |
| GP-ACT III ACQ CRP; TNT ACQ DT: 5/10/2026; CASH: $10.00 | CL A | $0 | 0.0% | 0 |  | Sold out −2,230,216 |
| GRAF INDUSTRIAL ACQ CORP; TNT ACQ DT: 9/7/2020; CASH $10.00 | ORD SHS CL A | $0 | 0.0% | 0 |  | Sold out −192,600 |
| ISHARES S&P GSSI NATURAL RES | NORTH AMERN NAT | $0 | 0.0% | 0 |  | Sold out −127,079 |
| LAUNCH ONE ACP CRP; TNT ACQ DT: 7/12/2026; CASH: $10.00 | SHS CLASS A | $0 | 0.0% | 0 |  | Sold out −1,085,250 |
| LEGATO ACQ CRP III; TNT ACQ DT: 2/08/2026; CASH: $10.00 | ORD SHS | $0 | 0.0% | 0 |  | Sold out −2,139,308 |
| LIONHEART HOLDINGS ACQ CRP; TNT ACQ DT: 6/18/2026; CASH $10.00 | SHS CL A | $0 | 0.0% | 0 |  | Sold out −1,031,975 |
| MOUNTAIN LAKE ACQ CRP; TNT ACQ DT: 6/13/2026; CASH: $10.05 | SHS CL A | $0 | 0.0% | 0 |  | Sold out −620,220 |
| NEWHOLD INVESTMENT ACQ CRP III; TNT ACQ DT: 2/28/2027; CASH: $10.05 | ORD SHS CL A | $0 | 0.0% | 0 |  | Sold out −83,900 |
| OAK WOODS ACQ CRP; TNT ACQ DT: 3/24/2024; CASH: $10.175 | CL A | $0 | 0.0% | 0 |  | Sold out −66,700 |
| Rising Dragon Acquisition Corp | SHS | $0 | 0.0% | 0 |  | Sold out −736,550 |
| SIM ACQ CRP; TNT ACQ DT8/30/2024 7/12/2026; CASH $10.00 | SHS CL A | $0 | 0.0% | 0 |  | Sold out −1,725,032 |
| [SRH TOTAL RETURN FUND INC (STEW)](/companies/stew.md) | COM | $0 | 0.0% | 0 |  | Sold out −29,393 |
| [TAIWAN FD INC COM (TWN)](/companies/twn.md) | COM | $0 | 0.0% | 0 |  | Sold out −75,028 |
| TRIDENT ACQ CORP; TNT ACQ DATE: 11/30/19; CASH $10.20 | COM CL A | $0 | 0.0% | 0 |  | Sold out −603,425 |
| VOYAGER ACQ CRP; TNT ACQ DT: 8/9/2026; CASH: $10.05 | CL A | $0 | 0.0% | 0 |  | Sold out −667,041 |

Source: SEC EDGAR, Form 13F-HR, accession 0001072613-26-000683. Last ingested by Listed: Oct 22, 2026, 05:26 ET. No prices; not investment advice.