Karpus Discloses 6.86% Stake in BlackRock NY Fund

Karpus Management, Inc. has reported a significant holding in BlackRock New York Municipal Income Trust, disclosing beneficial ownership of 1,653,365 common shares, or 6.86% of the outstanding class, as of 12/31/2025.

Accepted by SEC EDGAR 02/13/2026 - 04:07 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Karpus Management, Inc. has reported a significant holding in BlackRock New York Municipal Income Trust, disclosing beneficial ownership of 1,653,365 common shares, or 6.86% of the outstanding class, as of 12/31/2025.

Karpus, a registered investment adviser, states that these shares are owned by accounts it manages, and that it has sole power to vote and dispose of all reported shares, with no shared voting or dispositive power. The firm certifies the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of the trust.

Insights

Closed-end fund ownership analyst

Karpus reports a 6.86% passive stake in BlackRock New York Municipal Income Trust.

Karpus Management discloses beneficial ownership of 1,653,365 common shares, representing 6.86% of the fund as of 12/31/2025. It holds sole voting and dispositive power, indicating centralized control of this block within the adviser.

The filing characterizes the stake as being held in the ordinary course of business and explicitly disclaims any intent to change or influence control. That language signals a passive position under Schedule 13G, rather than an activist campaign.

Karpus notes it is controlled by City of London Investment Group plc but describes information barriers so that voting and investment decisions on these BNY shares are made independently by Karpus. Future ownership updates would typically appear in subsequent beneficial ownership reports if the percentage changes materially.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake does Karpus Management hold in BlackRock New York Municipal Income Trust (BNY)?

Karpus Management reports beneficial ownership of 1,653,365 common shares of BlackRock New York Municipal Income Trust, representing 6.86% of the outstanding class as of December 31, 2025. This gives Karpus a sizable minority position in the closed-end fund.

Does Karpus Management have voting control over its BNY shares?

Karpus Management states it has sole voting power over all 1,653,365 BNY shares it reports. It also has sole dispositive power, meaning it alone decides how these shares are voted and when they are sold, with no shared authority reported.

Is Karpus Management’s BNY position considered passive or activist?

Karpus certifies that its BNY shares were acquired and are held in the ordinary course of business, not to change or influence control of the trust. This language and the Schedule 13G format indicate a passive investment stance rather than an activist position.

Who ultimately controls Karpus Management, the BNY reporting person?

Karpus Management is controlled by City of London Investment Group plc, which is listed on the London Stock Exchange. The filing explains there are informational barriers, so Karpus exercises voting and investment power over BNY shares independently from its parent company.

How are the BNY shares reported by Karpus actually held?

The filing explains that the BNY shares are owned directly by client accounts managed by Karpus Management. Karpus acts as investment adviser to these accounts and aggregates their positions for reporting, reflecting its beneficial ownership through discretionary management authority.

Why did Karpus Management file a Schedule 13G for BNY?

A Schedule 13G is required when an investor exceeds 5% beneficial ownership and qualifies for passive reporting. Karpus crossed that threshold in BNY, reporting 6.86% ownership as of December 31, 2025, and certified that the holding is not for influencing control.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

(Name of Issuer)

Common

(Title of Class of Securities)

09248l106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 09248l106

1

Names of Reporting Persons

KARPUS MANAGEMENT, INC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,653,365.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,653,365.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,653,365.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.86 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BLACKROCK NEW YORK MUNICIPAL INCOME TRUST
(b)	Address of issuer's principal executive offices: 100 Bellevue Parkway Wilmington, Delaware 19809
Item 2.
(a)	Name of person filing: This statement is being filed by Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus" or the "Reporting Person"). Karpus is a registered investment adviser under Section 203 of the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc ("CLIG"), which is listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG. The Shares to which this Schedule 13G relates are owned directly by the accounts managed by Karpus.
(b)	Address or principal business office or, if none, residence: 183 Sully's Trail, Pittsford, New York 14534.
(c)	Citizenship: The members of the Karpus Management Committee are US citizens. Karpus is a New York corporation.
(d)	Title of class of securities: Common
(e)	CUSIP No.: 09248l106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,653,365.00
(b)	Percent of class: 6.86 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,653,365.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 1,653,365.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

KARPUS MANAGEMENT, INC.

Signature:	/s/ Jodi L. Hedberg
Name/Title:	Jodi L. Hedberg / Chief Compliance Officer
Date:	02/13/2026