Karpus Management Reports 1.52M Shares (5.07%) in TVA

Rhea-AI Filing Summary

Karpus Management, Inc. reported beneficial ownership of 1,519,975 common shares of Texas Ventures Acquisition III Corp (CUSIP G8772L105), representing 5.07% of the class. The filing states Karpus is a New York-registered investment adviser that directly manages the accounts holding these shares and exercises sole voting and dispositive power over them. The shares were acquired and are held in the ordinary course of business and not for the purpose of changing control of the issuer. Karpus notes informational barriers with its parent, City of London Investment Group plc, and that attribution of ownership to the parent is not required.

Positive

• Beneficial ownership of 1,519,975 shares representing 5.07% of the class, meeting SEC disclosure thresholds
• Sole voting and dispositive power over the disclosed shares, clarifying who controls voting decisions
• Filed by a registered investment adviser with a compliance certification signed by the Chief Compliance Officer

Negative

• None.

Insights

Financial Analyst

TL;DR: A registered investment adviser disclosed a >5% stake with sole voting and dispositive power, which is material for shareholder structure.

Karpus' 5.07% position is legally material because it crosses the 5% disclosure threshold, signaling a meaningful passive stake held in managed accounts. The filing emphasizes sole control over voting and disposition, which means Karpus can influence votes tied to its block even though it states the position is not intended to change control. For investors, ownership concentration at this level can affect shareholder votes and potential market liquidity for the issuer's shares.

Corporate Governance Expert

TL;DR: Disclosure is standard and compliant; sole voting power at >5% warrants monitoring of future 13D/13G updates.

The Schedule 13G is filed under the investment adviser classification and contains the required representations that the position is held in the ordinary course of business. The explicit statement that the shares were not acquired to influence control and the certification by the Chief Compliance Officer support a passive intent. Governance implications include potential influence in close votes and the need to watch for any conversion to a 13D filing if intent or holdings change.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Texas Ventures Acquisition III Corp

(Name of Issuer)

Common

(Title of Class of Securities)

G8772L105

(CUSIP Number)

06/30/2025

(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. G8772L105

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 1,519,975.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,519,975.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,519,975.00

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)

5.07 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Texas Ventures Acquisition III Corp
(b)	Address of issuer's principal executive offices: 5090 Richmond Avenue, Suite 319, Houston, TX 77056
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.: G8772L105
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: 1,519,975.00
(b)	Percent of class: 5.07 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,519,975.00
	(ii) Shared power to vote or to direct the vote: 0.00
	(iii) Sole power to dispose or to direct the disposition of: 1,519,975.00
	(iv) Shared power to dispose or to direct the disposition of: 0.00
Item 5.	Ownership of 5 Percent or Less of a Class.
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:	08/14/2025

FAQ

What stake did Karpus Management disclose in TVA (Texas Ventures Acquisition III Corp)?

Karpus disclosed beneficial ownership of 1,519,975 common shares, equal to 5.07% of the class.

Does Karpus have voting control over the TVA shares it disclosed?

Yes. The filing reports sole voting power and sole dispositive power for all 1,519,975 shares.

Under what classification was the Schedule 13G filed?

The filing identifies Karpus as an investment adviser (Type: IA) and the Schedule 13G form was used.

Did Karpus state an intent to influence control of Texas Ventures Acquisition III Corp?

No. The certification states the shares were not acquired to change or influence control and are held in the ordinary course of business.

Who signed the Schedule 13G for Karpus Management?

The filing was signed by Jodi L. Hedberg, Chief Compliance Officer, on 08/14/2025.