Karpus (NYSE: WIA holder) discloses 37.05% ownership in Western Asset Inflation-Linked fund

Rhea-AI Filing Summary

Karpus Management, Inc. filed Amendment No. 6 to its Schedule 13D on Western Asset Inflation-Linked Income Fund. As of June 9, 2026, Karpus, an independent registered investment adviser, beneficially owned 8,639,783.8 common shares, representing about 37.05% of the fund’s 23,322,256 shares outstanding.

Karpus holds these shares in client accounts under limited powers of attorney and reports sole voting and dispositive power over the position. The aggregate purchase price for the 8,639,783.8 shares is approximately $81,577,698.37, funded by client account assets, including possible margin loans.

Insights

Institutional ownership analyst

Karpus reports a large, controlled stake in Western Asset Inflation-Linked Income Fund.

Karpus Management, Inc. now reports beneficial ownership of 8,639,783.8 common shares of Western Asset Inflation-Linked Income Fund, or about 37.05% of the outstanding 23,322,256 shares as of January 28, 2026. The shares are held in managed client accounts under limited powers of attorney.

Karpus discloses sole voting and sole dispositive power over this stake, giving it substantial influence over how the shares are voted and whether they are held or sold. The aggregate purchase price of roughly $81,577,698.37 indicates a meaningful, long-term capital commitment by its clients.

Subsequent activity in the fund’s shares by Karpus since the prior amendment is referenced in Schedule B for transactions after April 30, 2026. Future amendments or fund reports may provide additional detail on any changes in the reported ownership level or voting position.

Key Figures

Beneficial ownership: 8,639,783.8 shares Ownership percentage: 37.05% Shares outstanding: 23,322,256 shares +5 more

8 metrics

Beneficial ownership 8,639,783.8 shares Karpus beneficially owned shares as of June 9, 2026

Ownership percentage 37.05% Portion of 23,322,256 shares outstanding as of January 28, 2026

Shares outstanding 23,322,256 shares Total outstanding as of January 28, 2026 per Form N-CSR

Aggregate purchase price $81,577,698.37 Cost of 8,639,783.8 shares, excluding commissions

Sole voting power 8,639,783.80 shares Shares over which Karpus reports sole voting authority

Sole dispositive power 8,639,783.80 shares Shares over which Karpus reports sole dispositive authority

Amendment number Amendment No. 6 Latest amendment to Karpus Schedule 13D on WIA

Event date June 9, 2026 Date of event requiring the Schedule 13D amendment

Key Terms

beneficially owned, sole voting power, sole dispositive power, independent registered investment advisor, +2 more

6 terms

beneficially owned financial

"Karpus beneficially owned an aggregate of 8,639,783.8 Shares held in the Accounts"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Sole voting power and sole dispositive power: 8,639,783.8"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Sole voting power and sole dispositive power: 8,639,783.8"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

independent registered investment advisor financial

"Karpus an independent registered investment advisor, has accumulated 8,639,783.8 Shares"

Schedule 13D regulatory

"This Amendment No. 6 ("Amendment") amends and supplements the statement on filed by Karpus"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

margin loans financial

"may at any given time, include margin loans made by brokerage firms in the ordinary course of business"

Margin loans are loans from a brokerage that let an investor borrow money using their existing stocks, bonds or cash as collateral to buy more securities. They matter because borrowing magnifies both gains and losses—like using a lever to move a heavier load—so small market moves can have outsized effects on your returns; investors also pay interest and risk a margin call, where the broker may force sales if collateral falls below required levels.

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

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Available on EDGAR 06/11/2026 - 08:41 AM Accepted by SEC EDGAR 06/11/2026 - 08:41 AM Learn about SEC filing dates

FAQ

How many WIA shares does Karpus Management currently report owning?

Karpus Management reports beneficial ownership of 8,639,783.8 Western Asset Inflation-Linked Income Fund common shares. These shares are held in client accounts managed under limited powers of attorney, giving Karpus control over voting and investment decisions for this large position.

What percentage of Western Asset Inflation-Linked Income Fund (WIA) is held by Karpus?

Karpus Management reports owning about 37.05% of Western Asset Inflation-Linked Income Fund’s outstanding common shares. This percentage is based on 23,322,256 shares outstanding as of January 28, 2026, as disclosed in the fund’s Form N-CSR for the period ended November 30, 2025.

What is the aggregate purchase price Karpus paid for its WIA stake?

Karpus Management states that the aggregate purchase price for the 8,639,783.8 WIA shares it beneficially owns is approximately $81,577,698.37. This figure excludes brokerage commissions and reflects purchases funded by client account assets, which may include margin loans from brokerage firms.

How does Karpus hold and control its Western Asset Inflation-Linked Income Fund shares?

Karpus holds its WIA shares in managed client accounts under limited powers of attorney. It reports sole voting power and sole dispositive power over 8,639,783.8 shares, meaning it can determine how these shares are voted and whether they are bought or sold on behalf of clients.

What date does Karpus use for its latest WIA ownership reporting?

Karpus’s updated ownership information is reported as of the close of business on June 9, 2026. The percentage owned, 37.05%, is calculated using 23,322,256 shares outstanding, which the fund reported as of January 28, 2026 in its Form N-CSR.

Where does Karpus describe recent transactions in WIA shares?

Karpus indicates that transactions in WIA shares since the April 30, 2026 amendment are listed on Schedule B to the current filing. Those trades cover activity in the fund’s common shares executed through Karpus-managed accounts after the prior Schedule 13D amendment date.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

Western Asset Inflation-Linked Income Fund

(Name of Issuer)

Common Shares

(Title of Class of Securities)

95766Q106

(CUSIP Number)

Jodi L. Hedberg, CCO
Karpus Management, Inc., 183 Sully's Trail
Pittsford, NY, 14534
585-586-4680

Adam W. Finerman, Esq.
BakerHostetler, 45 Rockfeller Plaza
New York, NY, 10111
212-589-4233

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/09/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 95766Q106

1

Name of reporting person

KARPUS MANAGEMENT, INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 8,639,783.80
8	Shared Voting Power 0.00
9	Sole Dispositive Power 8,639,783.80
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

8,639,783.80

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

37.05 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

This Amendment No. 6 ("Amendment") amends and supplements the statement on Schedule 13D filed by Karpus Management, Inc., d/b/a Karpus Investment Management ("Karpus"), on December 13, 2023, as amended by Amendment No. 1 filed on May 20, 2024, by Amendment No. 2 filed on September 18, 2024, by Amendment No. 3 filed on April 9, 2025, by Amendment No. 4 filed on January 7, 2026, and by Amendment No. 5 filed on April 30, 2026 (collectively, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"), relating to the shares of Common Stock of Western Asset Inflation-Linked Income Fund, ("Shares"), a Massachusetts corporation (the "Issuer"). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares
(b)	Name of Issuer: Western Asset Inflation-Linked Income Fund
(c)	Address of Issuer's Principal Executive Offices: One Madison Avenue, 17th Floor, New York, NEW YORK , 10010.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended to read as follows: Karpus an independent registered investment advisor, has accumulated 8,639,783.8 Shares on behalf of accounts managed by Karpus (the "Accounts") under limited powers of attorney. All funds that have been utilized in making such purchases for the Accounts (which are open market purchases unless otherwise noted) are from such Accounts. The aggregate purchase price of the 8,639,783.8 Shares beneficially owned by Karpus is approximately $81,577,698.37, excluding brokerage commissions. The Shares purchased by Karpus with working capital (which may at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases except as otherwise noted herein.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended to read as follows: As of the close of business on June 9, 2026, Karpus beneficially owned an aggregate of 8,639,783.8 Shares held in the Accounts, which represents approximately 37.05% of the 23,322,256 Shares outstanding, which is the total number of Shares outstanding as of January 28, 2026 on Form N-CSR filed by the Issuer for the reporting period ending November 30, 2025.
(b)	Item 5(b) is hereby amended to read as follows: Sole voting power and sole dispositive power: 8,639,783.8
(c)	Item 5(c) is hereby amended to read as follows: The transactions in the Shares by Karpus through the Accounts since the amended Schedule 13D filing on April 30, 2026, are set forth on Schedule B and incorporated herein for reference.

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:	06/11/2026