0001127544-11-000005.txt : 20110505 0001127544-11-000005.hdr.sgml : 20110505 20110505153937 ACCESSION NUMBER: 0001127544-11-000005 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110505 DATE AS OF CHANGE: 20110505 EFFECTIVENESS DATE: 20110505 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KARPAS STRATEGIES LLC CENTRAL INDEX KEY: 0001127544 IRS NUMBER: 134074234 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-06347 FILM NUMBER: 11814500 BUSINESS ADDRESS: STREET 1: 488 MADISON AVENUE STREET 2: 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2122237280 MAIL ADDRESS: STREET 1: 488 MADISON AVENUE STREET 2: 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 13F-HR 1 ks1q11.txt 13F United States Securities and Exchange Commission Washington, D.C. 20549 Form 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: March 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: Karpas Strategies, LLC Address: 488 Madison Avenue, 17th Floor New York, NY 10022 13F File Number: 028-06347 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: Kitty Lee Title: Administrator Telephone: 212-223-7280 Signature, Place, and Date of Signing Kitty Lee New York, New York May 5, 2011 Report Type (Check only one.): [X] 13F Holdings Report. [ ] 13F Notice. [ ] 13F Combination Report. List of Other Managers Reporting for this Manager: 0 I am signing this report as required by the Securities Exchange Act of 1934. Form 13F Summary Page Report Summary: Number of Other Included Managers: Form 13F Information Table Entry Total: 107 Form 13F Information Table Value Total: $144,402,000 List of Other Included Managers: FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- Ace Limited COM G0070K103 971 15015 SH Sole 14265 750 AllianceBernstein Holdings LP COM 01881g106 516 23650 SH Sole 22550 1100 American Express COM 025816109 705 15600 SH Sole 15600 BHP Billiton Ltd COM 088606108 1151 12000 SH Sole 12000 BP PLC COM 055622104 1173 26570 SH Sole 26570 Berkshire Hathaway Inc. CL A COM 084670108 376 3 SH Sole 3 Berkshire Hathaway Inc. Cl B COM 084670702 2830 33842 SH Sole 31034 2808 Boeing Co. COM 097023105 238 3218 SH Sole 3218 Bristol-Myers Squibb COM 110122108 835 31600 SH Sole 31600 Brookfield Asset Mgt COM 112585104 5009 154322 SH Sole 141522 12800 Brookfield Infrastru Prtnrs LP COM g16252102 2395 107802 SH Sole 102767 5035 CME Group Inc Cl A COM 167760107 302 1000 SH Sole 1000 CVS Caremark, Corp. COM 126650100 585 17052 SH Sole 17052 CapitalSource Inc. COM 14055X102 551 78288 SH Sole 74038 4250 Cenovus Energy, Inc. COM 15135U109 335 8500 SH Sole 8050 450 Charles Schwab COM 808513105 7371 408800 SH Sole 316950 91850 Chevron Corp. COM 166751107 2462 22900 SH Sole 19900 3000 CitiGroup Inc. COM 172967101 1324 299442 SH Sole 264178 35264 Coca Cola Co. COM 191216100 1022 15400 SH Sole 13900 1500 Colgate-Palmolive COM 194162103 422 5225 SH Sole 5225 Comcast Cl A Special COM 20030N200 1874 80685 SH Sole 73360 7325 Comcast Corp. Cl A COM 20030N101 311 12585 SH Sole 12020 565 ConocoPhillips COM 20825C104 2251 28187 SH Sole 28187 Copano Energy, LLC COM 217202100 2052 57641 SH Sole 54641 3000 Deere & Co. COM 244199105 824 8500 SH Sole 8500 DirectTV Group Inc. COM 25490A101 1406 30039 SH Sole 27826 2213 Duke Energy Corp. COM 26441c105 283 15600 SH Sole 15600 Duke Realty Corp COM 264411505 214 15306 SH Sole 14106 1200 Eastgroup Properties COM 277276101 583 13250 SH Sole 13250 EnCana Corp. COM 292505104 294 8500 SH Sole 8050 450 Enbridge Energy Management LLC COM 29250X103 3643 57932 SH Sole 55114 2819 Enstar Group LTD COM G3075P101 510 5110 SH Sole 4810 300 Ethan Allen Interiors COM 297602104 229 10468 SH Sole 10468 Exxon Mobil Corp COM 30231G102 4942 58738 SH Sole 58738 First Nat'l of Nebraska, Inc. COM 335720108 2784 950 SH Sole 850 100 Forest City Ent. CL A COM 345550107 188 10000 SH Sole 9200 800 General Electric COM 369604103 3585 178794 SH Sole 164344 14450 HSBC Holdings PLC COM 404280406 1702 32866 SH Sole 32866 Hess Corp. COM 42809h107 1336 15678 SH Sole 15678 Honeywell Intl. COM 438506107 1075 18000 SH Sole 15000 3000 ITT Corp. COM 450911102 437 7275 SH Sole 5850 1425 Icici Bank LTD COM 45104G104 1136 22800 SH Sole 22800 Intl Bus Machines COM 459200101 467 2863 SH Sole 2863 JPMorgan Chase COM 46625H100 243 5261 SH Sole 5261 Johnson & Johnson COM 478160104 10566 178335 SH Sole 175835 2500 Kinder Morgan Energy Partners COM 494550106 726 9800 SH Sole 9800 Leucadia Natl Corp. COM 527288104 4234 112783 SH Sole 104283 8500 Level 3 Communications COM 52729N100 15 10500 SH Sole 10500 Liberty Capital Ser A COM 53071m302 439 5964 SH Sole 5410 554 Liberty Global Cl A COM 530555101 1176 28393 SH Sole 26822 1571 Liberty Global Ser C COM 530555309 2060 51524 SH Sole 46553 4971 Liberty Media Hldg COM 53071M104 472 29409 SH Sole 26635 2774 Liberty Starz COM 53071m708 230 2965 SH Sole 2745 220 Lockheed Martin COM 539831099 423 5266 SH Sole 4589 677 Magellan Midstream Ptnrs LP COM 559080106 4905 81941 SH Sole 77736 4205 Manulife Financial Corp. COM 56501r106 212 12000 SH Sole 6000 6000 Markel Corp. COM 570535104 202 488 SH Sole 328 160 Markwest Energy Ptnr LP COM 570759100 2096 43250 SH Sole 36950 6300 Marriott Intl. Inc. COM 571903202 1079 30327 SH Sole 30327 Martin Marietta Mtrl COM 573284106 587 6550 SH Sole 5875 675 McDonald's Corp. COM 580135101 255 3350 SH Sole 3350 Merck & Co. COM 589331107 4720 143000 SH Sole 143000 Microsoft Corp. COM 594918104 692 27250 SH Sole 27250 Monsanto Co. COM 61166w101 325 4500 SH Sole 4500 Montpelier Re Holdings LTD COM G62185106 777 44000 SH Sole 40300 3700 Nacco Inds Inc. CL A COM 652957910 1187 10725 SH Sole 10115 610 National Aust Bank COM 632525408 615 23000 SH Sole 23000 News Corp LTD Cl A COM 65248e104 2040 116056 SH Sole 108056 8000 Nextera Engergy, Inc. COM 65339F101 782 14182 SH Sole 14182 Nokia Corp. Spon ADR COM 654902209 88 10325 SH Sole 10325 NuStar Energy L.P. COM 91913W104 205 3023 SH Sole 1023 2000 Nuveen Govt Income Fund COM 67090N109 178 12750 SH Sole 12750 Oneok Partners LP COM 68268N103 3409 41400 SH Sole 36400 5000 Pfizer Inc. COM 717081103 2253 110906 SH Sole 105206 5700 Philip Morris Intl Inc COM 718172109 623 9500 SH Sole 9500 Plum Creek Timber COM 729251108 297 6800 SH Sole 6800 Procter & Gamble Co COM 742718109 283 4600 SH Sole 2650 1950 Rayonier Inc COM 754907103 4182 67117 SH Sole 65017 2100 Royal Dutch Shell COM 780259206 1435 19700 SH Sole 19700 Shaw Communications COM 82082k200 337 16000 SH Sole 16000 Spectra Energy Corp. COM 847560109 593 21800 SH Sole 21800 St. Joe Co COM 790148100 1356 54085 SH Sole 47210 6875 Suncor Energy Inc. COM 867229106 404 9000 SH Sole 9000 Texas Instruments COM 882508104 1659 48000 SH Sole 48000 The Bank of New York Mellon COM 064057102 624 20879 SH Sole 13719 7160 Toronto-Dominion Bank COM 891160509 550 6213 SH Sole 6213 Travelers Companies Inc. COM 792860108 396 6650 SH Sole 6650 U S G Corp. COM 903293405 1202 72155 SH Sole 62530 9625 U.S. Bancorp COM 902973304 2076 78545 SH Sole 78545 UDR, Inc. COM 902653104 223 9145 SH Sole 6645 2500 VistaPrint Limited COM G93762204 6656 128250 SH Sole 116250 12000 W.P. Carey & Co LLC COM 92930Y107 3274 91700 SH Sole 88625 3075 Wal-Mart Stores COM 931142103 297 5700 SH Sole 5700 Walt Disney Co. COM 254687106 1574 36529 SH Sole 31729 4800 Waste Management, Inc. COM 94106L109 437 11700 SH Sole 10700 1000 Wells Fargo & Co. COM 949746101 2981 94000 SH Sole 86000 8000 Wells Fargo Adv Global Div Opp COM 30024H101 123 12500 SH Sole 12500 Westpac Banking Corp (ADR) COM 961214301 313 2500 SH Sole 2500 White Mountains Insurance Grou COM G9618E107 567 1557 SH Sole 1432 125 Williams Companies COM 969457100 299 9600 SH Sole 8100 1500 Zimmer Holdings Inc. COM 98956p102 300 4960 SH Sole 4960 iShares S&P US PFD Fund COM 464288687 381 9600 SH Sole 9000 600 Fidelity Asset Manager 50% MUT 316069103 186 11697.0580 SH Sole 11697.0580 Longleaf Partners Internationa MUT 543069405 289 18315.1960 SH Sole 14013.0830 4302.1130 Putnam Global Healthcare Fund MUT 746778109 236 4961.1160 SH Sole 4961.1160 T Rowe Price Growth Stock Fd I MUT 741479109 240 7105.5010 SH Sole 7105.5010 Vanguard U.S. Value Fund MUT 922020201 121 11027.3270 SH Sole 11027.3270 REPORT SUMMARY 107 DATA RECORDS 144402 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED