0001048703-12-000090.txt : 20120214 0001048703-12-000090.hdr.sgml : 20120214 20120214090248 ACCESSION NUMBER: 0001048703-12-000090 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 EFFECTIVENESS DATE: 20120214 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Karpus Management, Inc. CENTRAL INDEX KEY: 0001048703 IRS NUMBER: 161290550 STATE OF INCORPORATION: NY FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-11445 FILM NUMBER: 12602868 BUSINESS ADDRESS: STREET 1: 183 SULLY'S TRAIL CITY: PITTSFORD STATE: NY ZIP: 14534 BUSINESS PHONE: 5855864680 MAIL ADDRESS: STREET 1: 183 SULLY'S TRAIL CITY: PITTSFORD STATE: NY ZIP: 14534 FORMER COMPANY: FORMER CONFORMED NAME: KARPUS MANAGEMENT INC DATE OF NAME CHANGE: 19971029 13F-HR 1 form13f12302011.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F-HR FORM 13F-HR COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2011 Check here if Amendment [ ]; Amendment Number: ______ This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Karpus Investment Management Address: 183 Sully's Trail Pittsford, New York 14534 Form 13F File Number: 28-11445 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: George W. Karpus Title: President / CEO Phone: 585-586-4680 Signature, Place, and Date of Signing: February 14, 2012 George Karpus Pittsford, New York 14534 [Date] [Signature] [City, State] Report Type (Check only one.): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: [If there are no entries in this list, omit this section.] Form 13F File Number Name 28-________________ _________________________________________ [Repeat as necessary.] FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: N/A Form 13F Information Table Entry Total: 138 Form 13F Information Table Value Total: $1,162,588.02 (x$1,000) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] No. Form 13F File Number Name NONE [Repeat as necessary.] FORM 13F INFORMATION TABLE

Col 1 Col 2 Col 3 Col 4 Col 5 Col 6 Col 7 Col 8 Name of Issuer Title CUSIP Value Shares SH/ PUT/ Invest. Other Voting Authority of x($1,000) or PRN AMT PRN Call Disc'n Mgrs Sole Shared None Class ABERDEEN EMERGING MARKETS T Common 00301T102 $2,017.79 115,105 SH n/a sole n/a sole 0 0 ABERDEEN ISRAEL FUND, INC Common 00301L109 $393.43 30,857 SH n/a sole n/a sole 0 0 ABERDEEN LATIN AMERICA EQUI Common 00306K106 $438.98 14,584 SH n/a sole n/a sole 0 0 ADAMS EXPRESS COMPANY Common 006212104 $21,757.97 2,257,051 SH n/a sole n/a sole 0 0 AGIC INTERNATIONAL & PREMIU Common 00119Q100 $208.19 21,051 SH n/a sole n/a sole 0 0 ALLIANCEBERNSTEIN INC FUND Common 01881E101 $68,884.45 8,535,868 SH n/a sole n/a sole 0 0 AMERICAN STRATEGIC INC III Common 03009T101 $281.71 43,207 SH n/a sole n/a sole 0 0 ASIA PACIFIC FUND INC Common 044901106 $3,932.73 418,375 SH n/a sole n/a sole 0 0 BANCROFT FUND LTD Common 059695106 $189.03 12,502 SH n/a sole n/a sole 0 0 BLACKROCK CREDIT ALLOC IV Common 092508100 $2,231.49 183,662 SH n/a sole n/a sole 0 0 BLACKROCK INCOME OPPTY TRST Common 092475102 $1,845.19 180,547 SH n/a sole n/a sole 0 0 BLACKROCK INCOME TRUST Common 09247F100 $15,968.60 2,178,527 SH n/a sole n/a sole 0 0 BLACKROCK INTERNATIONAL GRO Common 092524107 $6,066.61 847,292 SH n/a sole n/a sole 0 0 BLACKROCK MUNIYIELD CA INSU Common 09254N103 $166.20 11,590 SH n/a sole n/a sole 0 0 BLACKROCK PRFD OPPRTY TRUST Common 09249V103 $1,129.31 107,145 SH n/a sole n/a sole 0 0 BLACKROCK STRAT DVD ACHV TR Common 09249Y107 $202.86 20,700 SH n/a sole n/a sole 0 0 CALAMOS GLOBAL DYNAMIC INCO Common 12811L107 $1,802.50 246,918 SH n/a sole n/a sole 0 0 CALAMOS STRAT TOT RETURN FD Common 128125101 $2,028.82 242,969 SH n/a sole n/a sole 0 0 CENTRAL EUROPE & RUSSIA FUN Common 153436100 $372.09 13,033 SH n/a sole n/a sole 0 0 CHINA FUND INC Common 169373107 $1,845.59 89,985 SH n/a sole n/a sole 0 0 CLOUGH GLBL OPPORTUNITIES F Common 18914E106 $158.55 15,000 SH n/a sole n/a sole 0 0 COHEN & STEERS GLOBAL INCOM Common 19248M103 $4,077.31 438,420 SH n/a sole n/a sole 0 0 CORNING INC COM Common 219350105 $259.60 20,000 SH n/a sole n/a sole 0 0 DELAWARE INV FL INSD MUNI I Common 24610T108 $3,286.14 254,542 SH n/a sole n/a sole 0 0 DTF TAX-FREE INCOME INC Common 23334J107 $21,039.79 1,310,074 SH n/a sole n/a sole 0 0 EATON VANCE ENH EQT INC II Common 278277108 $10,309.02 1,009,698 SH n/a sole n/a sole 0 0 EATON VANCE ENHANCED EQ INC Common 278274105 $14,970.62 1,470,591 SH n/a sole n/a sole 0 0 EATON VANCE MI MUNICIPAL IN Common 27826D106 $1,272.02 98,606 SH n/a sole n/a sole 0 0 EATON VANCE RISK-MANAGED DI Common 27829G106 $18,898.74 1,808,492 SH n/a sole n/a sole 0 0 EATON VANCE TAX-ADVANTAGED Common 27829M103 $612.04 36,981 SH n/a sole n/a sole 0 0 EATON VANCE TAX-MANAGED DIV Common 27828N102 $19,106.68 2,154,079 SH n/a sole n/a sole 0 0 EATON VANCE TAX-MANAGED GLO Common 27829F108 $6,261.95 759,024 SH n/a sole n/a sole 0 0 ETF POWERSHARES INSURED Common 73936T474 $6,890.28 281,811 SH n/a sole n/a sole 0 0 EXXON MOBIL CORP Common 30231G102 $844.55 9,964 SH n/a sole n/a sole 0 0 FEDERATED ENHANCED TREASURY Common 314162108 $11,136.58 776,068 SH n/a sole n/a sole 0 0 FORT DEARBORN INCOME SEC Common 347200107 $5,954.74 373,104 SH n/a sole n/a sole 0 0 FRANKLIN STREET PROPERTIES Common 35471R106 $632.81 63,599 SH n/a sole n/a sole 0 0 GABELLI DIVIDEND & INCOME T Common 36242H104 $17,839.60 1,156,913 SH n/a sole n/a sole 0 0 GENERAL AMERICAN INVESTORS Common 368802104 $16,474.43 661,358 SH n/a sole n/a sole 0 0 GREATER CHINA FUND Common 39167B102 $1,607.49 159,632 SH n/a sole n/a sole 0 0 GSI GROUP, INC. Common 36191C205 $170.50 16,667 SH n/a sole n/a sole 0 0 INDIA FUND INC Common 454089103 $439.82 23,100 SH n/a sole n/a sole 0 0 INTERNATIONAL BUSINESS MACH Common 459200101 $671.90 3,654 SH n/a sole n/a sole 0 0 INVESCO CA QUAL MUNI SEC Common 46130M107 $1,457.38 106,223 SH n/a sole n/a sole 0 0 INVESCO CALIFORNIA INSURED Common 46130L109 $325.71 21,414 SH n/a sole n/a sole 0 0 INVESCO INSURED CALIFORNIA Common 46130W105 $393.26 27,336 SH n/a sole n/a sole 0 0 INVESCO NY QUAL MUNI SEC Common 46133F109 $6,651.25 425,544 SH n/a sole n/a sole 0 0 INVESCO VAN KAMPEN SENIOR I Common 46131H107 $42.80 10,000 SH n/a sole n/a sole 0 0 IPATH DOW JONES-UBS COMMODI Common 06738C778 $30,263.65 716,469 SH n/a sole n/a sole 0 0 ISHARES 2012 S&P AMT-FREE M Common 464289412 $552.85 10,900 SH n/a sole n/a sole 0 0 ISHARES BARCLAYS 1-3 YEAR C Common 464288646 $4,147.37 39,802 SH n/a sole n/a sole 0 0 ISHARES IBOXX INV GR CORP B Common 464287242 $12,622.13 110,954 SH n/a sole n/a sole 0 0 ISHARES LEHMAN 7-10YR TREAS Common 464287440 $2,145.39 20,322 SH n/a sole n/a sole 0 0 ISHARES LEHMAN TRES INF PR Common 464287176 $9,808.96 84,060 SH n/a sole n/a sole 0 0 ISHARES MSCI AUSTRALIA INDE Common 464286103 $3,840.29 179,118 SH n/a sole n/a sole 0 0 ISHARES MSCI BRAZIL INDEX F Common 464286400 $3,278.92 57,134 SH n/a sole n/a sole 0 0 ISHARES MSCI CANADA Common 464286509 $19,886.05 747,596 SH n/a sole n/a sole 0 0 ISHARES MSCI EAFE INDEX FUN Common 464287465 $1,502.00 30,325 SH n/a sole n/a sole 0 0 ISHARES MSCI EMU Common 464286608 $4,713.40 168,939 SH n/a sole n/a sole 0 0 ISHARES MSCI FRANCE INDEX F Common 464286707 $6,610.03 337,591 SH n/a sole n/a sole 0 0 ISHARES MSCI HONG KONG INDE Common 464286871 $1,732.98 112,022 SH n/a sole n/a sole 0 0 ISHARES MSCI JAPAN INDEX FD Common 464286848 $4,095.55 449,566 SH n/a sole n/a sole 0 0 ISHARES MSCI PACIFIC EX JPN Common 464286665 $7,923.73 203,538 SH n/a sole n/a sole 0 0 ISHARES MSCI UNITED KINGDOM Common 464286699 $10,682.49 661,045 SH n/a sole n/a sole 0 0 ISHARES S&P 500 INDEX FUND Common 464287200 $2,313.26 18,365 SH n/a sole n/a sole 0 0 ISHARES S&P EUROPE 350 Common 464287861 $743.46 22,035 SH n/a sole n/a sole 0 0 ISHARES S&P NATIONAL MUNICI Common 464288414 $2,865.38 26,470 SH n/a sole n/a sole 0 0 JAPAN EQUITY FUND Common 471057109 $3,355.42 671,083 SH n/a sole n/a sole 0 0 JAPAN SMALLER CAPITALIZATIO Common 47109U104 $5,482.63 763,597 SH n/a sole n/a sole 0 0 JF CHINA REGION FUND INC Common 46614T107 $1,487.37 134,970 SH n/a sole n/a sole 0 0 KIMBERLY-CLARK CORPORATION Common 494368103 $420.69 5,719 SH n/a sole n/a sole 0 0 KINDER MORGAN ENERGY PARTNE Common 494550106 $203.88 2,400 SH n/a sole n/a sole 0 0 KOREA EQUITY FUND Common 50063B104 $1,296.49 142,785 SH n/a sole n/a sole 0 0 LAZARD GLOBAL TOT RT & INC Common 52106W103 $3,432.07 256,316 SH n/a sole n/a sole 0 0 LENNOX INTERNATIONAL INC. Common 526107107 $4,384.06 129,898 SH n/a sole n/a sole 0 0 LIBERTY ALL STAR EQUITY FUN Common 530158104 $22,288.09 5,281,539 SH n/a sole n/a sole 0 0 LIBERTY ALL-STAR GROWTH FD Common 529900102 $7,160.97 1,879,520 SH n/a sole n/a sole 0 0 LMP CAPITAL AND INCOME FUND Common 50208A102 $5,550.22 449,047 SH n/a sole n/a sole 0 0 LMP REAL ESTATE INCOME FUND Common 50208C108 $3,118.67 337,154 SH n/a sole n/a sole 0 0 MACQUARIE GLOBAL INFR TOT R Common 55608D101 $10,548.69 620,876 SH n/a sole n/a sole 0 0 MALAYSIA FUND, INC. Common 560905101 $193.36 21,437 SH n/a sole n/a sole 0 0 MEXICO EQUITY AND INCOME FD Common 592834105 $432.22 43,439 SH n/a sole n/a sole 0 0 MEXICO FUND INC Common 592835102 $436.15 19,961 SH n/a sole n/a sole 0 0 MFS CHARTER INCOME TRUST Common 552727109 $513.39 56,108 SH n/a sole n/a sole 0 0 MFS INTERMARKET INC TRUST I Common 59318R103 $96.64 11,700 SH n/a sole n/a sole 0 0 MONTGOMERY ST INCOME SEC IN Common 614115103 $1,463.40 94,841 SH n/a sole n/a sole 0 0 MORGAN STANLEY ASIA PACIFIC Common 61744U106 $5,822.56 444,470 SH n/a sole n/a sole 0 0 MORGAN STANLEY EAST EUROPE Common 616988101 $173.10 12,860 SH n/a sole n/a sole 0 0 MORGAN STANLEY EMRG MARKETS Common 61744G107 $1,278.33 98,942 SH n/a sole n/a sole 0 0 MORGAN STANLEY INDIA INVEST Common 61745C105 $152.15 10,860 SH n/a sole n/a sole 0 0 NEW GERMANY FUND Common 644465106 $8,656.68 707,245 SH n/a sole n/a sole 0 0 NEW IRELAND FUND INC Common 645673104 $169.64 24,444 SH n/a sole n/a sole 0 0 NUVEEN CONNECTICUT DVD ADV Common 67071Y108 $218.38 15,952 SH n/a sole n/a sole 0 0 NUVEEN EQUITY PREMIUM INCOM Common 6706ER101 $880.87 78,790 SH n/a sole n/a sole 0 0 NUVEEN INSD PREM INC MUNI I Common 6706D8104 $420.68 30,528 SH n/a sole n/a sole 0 0 NUVEEN MICHIGAN DIVIDEND AD Common 67070W103 $357.98 26,400 SH n/a sole n/a sole 0 0 NUVEEN MICHIGAN PREMIUM INC Common 67101Q109 $1,814.70 128,611 SH n/a sole n/a sole 0 0 NUVEEN MICHIGAN QUALITY INC Common 670979103 $1,367.74 93,553 SH n/a sole n/a sole 0 0 NUVEEN MULTI-ST INC & GTH 2 Common 67073D102 $2,776.04 344,850 SH n/a sole n/a sole 0 0 PAYCHEX CORPORATION Common 704326107 $230.91 7,669 SH n/a sole n/a sole 0 0 POWERSHARES BUILD AMERICA P Common 73937B407 $38,081.14 1,326,869 SH n/a sole n/a sole 0 0 POWERSHARES VRDO TAX-FREE W Common 73936T433 $783.13 31,300 SH n/a sole n/a sole 0 0 PUTNAM MUNI OPPORTUNITIES T Common 746922103 $71,115.39 5,795,875 SH n/a sole n/a sole 0 0 ROYAL DUTCH SHELL PLC - ADR Common 780259206 $292.36 4,000 SH n/a sole n/a sole 0 0 ROYCE VALUE TRUST Common 780910105 $17,625.39 1,436,462 SH n/a sole n/a sole 0 0 RYDEX S&P EQUAL WEIGHT ETF Common 78355W106 $31,760.07 686,259 SH n/a sole n/a sole 0 0 SINGAPORE FUND INC Common 82929L109 $3,128.30 286,737 SH n/a sole n/a sole 0 0 SPDR BARCLAYS CAPITAL INTL Common 78464A516 $8,683.84 147,609 SH n/a sole n/a sole 0 0 SPDR BARCLAYS CAPITAL MUNIC Common 78464A458 $41,752.77 1,758,752 SH n/a sole n/a sole 0 0 SPDR DOW JONES INDUSTRIAL A Common 78467X109 $39,903.68 327,482 SH n/a sole n/a sole 0 0 SPDR LEHMAN SHORT TERM MUNI Common 78464A425 $40,433.02 1,661,176 SH n/a sole n/a sole 0 0 SPDR NUVEEN S&P HIGH YIELD Common 78464A284 $794.17 15,064 SH n/a sole n/a sole 0 0 SPDR TRUST SERIES 1 Common 78462F103 $43,200.49 344,227 SH n/a sole n/a sole 0 0 SPECIAL OPPORTUNITIES FUND Common 84741T104 $15,185.28 1,047,261 SH n/a sole n/a sole 0 0 SUNAMERICA FOCUSED ALPHA GR Common 867037103 $38,659.69 2,114,863 SH n/a sole n/a sole 0 0 SUNAMERICA FOCUSED ALPHA L/ Common 867038101 $26,708.48 1,646,639 SH n/a sole n/a sole 0 0 SWISS HELVETIA FUND Common 870875101 $6,306.10 633,779 SH n/a sole n/a sole 0 0 TAIWAN FUND INC Common 874036106 $692.84 47,815 SH n/a sole n/a sole 0 0 TEMPLETON DRAGON FUND INC Common 88018T101 $346.37 13,610 SH n/a sole n/a sole 0 0 TEMPLETON RUSSIA & EAST EUR Common 88022F105 $275.04 20,209 SH n/a sole n/a sole 0 0 TEXTRON INC Common 883203101 $219.51 11,872 SH n/a sole n/a sole 0 0 THAI FUND INC Common 882904105 $241.34 19,685 SH n/a sole n/a sole 0 0 THE EUROPEAN EQUITY FUND, I Common 298768102 $5,259.33 885,409 SH n/a sole n/a sole 0 0 TRI-CONTINENTAL CORPORATION Common 895436103 $18,105.27 1,272,331 SH n/a sole n/a sole 0 0 TS&W/CLAYMORE T/A BALANCED Common 87280R108 $4,314.09 368,726 SH n/a sole n/a sole 0 0 VANGUARD EMERGING MARKET ET Common 922042858 $8,456.64 221,320 SH n/a sole n/a sole 0 0 VANGUARD EUROPE PACIFIC ETF Common 921943858 $20,810.27 679,408 SH n/a sole n/a sole 0 0 VANGUARD EUROPEAN ETF Common 922042874 $18,223.61 439,865 SH n/a sole n/a sole 0 0 VANGUARD LARGE-CAP ETF Common 922908637 $22,210.40 387,616 SH n/a sole n/a sole 0 0 VANGUARD MID-CAP ETF Common 922908629 $19,265.10 267,794 SH n/a sole n/a sole 0 0 VANGUARD PACIFIC ETF Common 922042866 $11,883.27 249,701 SH n/a sole n/a sole 0 0 VANGUARD SMALL-CAP ETF Common 922908751 $22,473.52 322,571 SH n/a sole n/a sole 0 0 WA/CLAY US INFL-LKD OPP&INC Common 95766R104 $12,551.88 995,391 SH n/a sole n/a sole 0 0 WA/CLAY US INFL-LKD SEC&INC Common 95766Q106 $627.92 49,677 SH n/a sole n/a sole 0 0 WESTERN ASSET INFLATION MAN Common 95766U107 $25,442.63 1,454,696 SH n/a sole n/a sole 0 0 WESTERN ASSET MUNICIPAL PAR Common 95766P108 $11,566.37 753,019 SH n/a sole n/a sole 0 0 WESTERN ASSET VARIABLE RATE Common 957667108 $4,633.05 311,988 SH n/a sole n/a sole 0 0 ZWEIG TOTAL RETURN FUND INC Common 989837109 $1,115.11 368,025 SH n/a sole n/a sole 0 0 Total Securities: 138 $1,162,588.02