# EDGAR Filing Document

**Accession Number:** 0001127544
**File Stem:** 0001127544-23-000003
**Filing Date:** 2023-2
**Character Count:** 16067
**Document Hash:** 3e7cdc4bf280fe39bd58337b7d27abae
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001127544-23-000003.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001127544-23-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** KARPAS STRATEGIES, LLC
- **CENTRAL INDEX KEY:** 0001127544
- **IRS NUMBER:** 134074234
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-06347
- **FILM NUMBER:** 23593769

**BUSINESS ADDRESS:**
- **STREET 1:** 33 WEST STREET, REAR
- **CITY:** LITCHFIELD
- **STATE:** CT
- **ZIP:** 06759
- **BUSINESS PHONE:** 2122237280

**MAIL ADDRESS:**
- **STREET 1:** 49 EAST CHESTNUT HILL ROAD
- **CITY:** LITCHFIELD
- **STATE:** CT
- **ZIP:** 06759

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** KARPAS STRATEGIES LLC
- **DATE OF NAME CHANGE:** 20001031

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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<br>**Address:** 49 EAST CHESTNUT HILL ROAD<br>LITCHFIELD, CT 06759

**Form 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:** Zachary Chernus<br>**Title:** Manager<br>**Phone:** 212-223-7280

**Signature, Place, and Date of Signing:**

Zachary Chernus  Litchfield, CT  02-07-2023<br>[Signature]  [City, State]  [Date]

**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 are reported 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).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 117

**Form 13F Information Table Value Total:** $284669608

      (round to nearest dollar)

**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.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| SHAW COMMUNICATIONS INC CL B CONV | Stock | 82028K200 |  | 460480 | 16000 | SH |  | SOLE | 0 | 16000 | 0 | 0 |
| JOHNSON  JOHNSON COM | Stock | 478160104 |  | 23691096 | 134113 | SH |  | SOLE | 0 | 133728 | 0 | 384 |
| WASTE MGMT INC DEL COM | Stock | 94106L109 |  | 1522042 | 9702 | SH |  | SOLE | 0 | 9701 | 0 | 0 |
| ALLIANCEBERNSTEIN HLDG L P UNIT LTD PARTN | Stock | 01881G106 |  | 574757 | 16723 | SH |  | SOLE | 0 | 16722 | 0 | 0 |
| NATIONAL WESTN LIFE GROUP INC CL A | Stock | 638517102 |  | 260302 | 926 | SH |  | SOLE | 0 | 926 | 0 | 0 |
| HCA HEALTHCARE INC COM | Stock | 40412C101 |  | 461728 | 1924 | SH |  | SOLE | 0 | 1924 | 0 | 0 |
| SHELL PLC SPON ADS | ADR | 780259305 |  | 504121 | 8852 | SH |  | SOLE | 0 | 8852 | 0 | 0 |
| LIBERTY MEDIA CORP DEL COM A SIRIUSXM | Stock | 531229409 |  | 301626 | 7673 | SH |  | SOLE | 0 | 7673 | 0 | 0 |
| LIBERTY MEDIA CORP DEL COM C SIRIUSXM | Stock | 531229607 |  | 699801 | 17884 | SH |  | SOLE | 0 | 17884 | 0 | 0 |
| PROCTER AND GAMBLE CO COM | Stock | 742718109 |  | 972575 | 6417 | SH |  | SOLE | 0 | 6417 | 0 | 0 |
| COCA COLA CO COM | Stock | 191216100 |  | 1631061 | 25642 | SH |  | SOLE | 0 | 25641 | 0 | 0 |
| MARRIOTT INTL INC NEW CL A | Stock | 571903202 |  | 287774 | 1933 | SH |  | SOLE | 0 | 1932 | 0 | 0 |
| CME GROUP INC COM | Stock | 12572Q105 |  | 840800 | 5000 | SH |  | SOLE | 0 | 5000 | 0 | 0 |
| MERCK  CO INC COM | Stock | 58933Y105 |  | 14935894 | 134618 | SH |  | SOLE | 0 | 134618 | 0 | 0 |
| ANNALY CAPITAL MANAGEMENT INC COM NEW | REIT | 035710839 |  | 3495234 | 165808 | SH |  | SOLE | 0 | 163941 | 0 | 1866 |
| BANK NEW YORK MELLON CORP COM | Stock | 064058100 |  | 1039807 | 22843 | SH |  | SOLE | 0 | 21575 | 0 | 1267 |
| VERIZON COMMUNICATIONS INC COM | Stock | 92343V104 |  | 343057 | 8707 | SH |  | SOLE | 0 | 8707 | 0 | 0 |
| CHUBB LIMITED COM | Stock | H1467J104 |  | 2940819 | 13331 | SH |  | SOLE | 0 | 13331 | 0 | 0 |
| PEPSICO INC COM | Stock | 713448108 |  | 688312 | 3810 | SH |  | SOLE | 0 | 3809 | 0 | 0 |
| HONEYWELL INTL INC COM | Stock | 438516106 |  | 1185908 | 5534 | SH |  | SOLE | 0 | 5533 | 0 | 0 |
| US BANCORP DEL COM NEW | Stock | 902973304 |  | 2453849 | 56268 | SH |  | SOLE | 0 | 54247 | 0 | 2020 |
| BP PLC SPONSORED ADR | ADR | 055622104 |  | 509419 | 14584 | SH |  | SOLE | 0 | 14584 | 0 | 0 |
| SUNCOR ENERGY INC NEW COM | Stock | 867224107 |  | 285570 | 9000 | SH |  | SOLE | 0 | 9000 | 0 | 0 |
| LUMEN TECHNOLOGIES INC COM | Stock | 550241103 |  | 5049568 | 967350 | SH |  | SOLE | 0 | 956190 | 0 | 11159 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | Stock | 084670702 |  | 8647038 | 27993 | SH |  | SOLE | 0 | 27568 | 0 | 425 |
| WEYERHAEUSER CO MTN BE COM NEW | REIT | 962166104 |  | 547588 | 17664 | SH |  | SOLE | 0 | 17664 | 0 | 0 |
| ALPHABET INC CAP STK CL A | Stock | 02079K305 |  | 201164 | 2280 | SH |  | SOLE | 0 | 2280 | 0 | 0 |
| FISERV INC COM | Stock | 337738108 |  | 4714410 | 46645 | SH |  | SOLE | 0 | 45895 | 0 | 750 |
| COMCAST CORP NEW CL A | Stock | 20030N101 |  | 4349717 | 124384 | SH |  | SOLE | 0 | 123229 | 0 | 1154 |
| MICROSOFT CORP COM | Stock | 594918104 |  | 4263885 | 17780 | SH |  | SOLE | 0 | 17779 | 0 | 0 |
| WYNDHAM HOTELS  RESORTS INC COM | Stock | 98311A105 |  | 574359 | 8054 | SH |  | SOLE | 0 | 8054 | 0 | 0 |
| CVS HEALTH CORP COM | Stock | 126650100 |  | 1493308 | 16024 | SH |  | SOLE | 0 | 16024 | 0 | 0 |
| JEFFERIES FINL GROUP INC COM | Stock | 47233W109 |  | 4098277 | 119553 | SH |  | SOLE | 0 | 119553 | 0 | 0 |
| AMERIPRISE FINL INC COM | Stock | 03076C106 |  | 330052 | 1060 | SH |  | SOLE | 0 | 1060 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL CL A | Stock | 084670108 |  | 3280977 | 7 | SH |  | SOLE | 0 | 7 | 0 | 0 |
| NEXTERA ENERGY INC COM | Stock | 65339F101 |  | 1765805 | 21122 | SH |  | SOLE | 0 | 21122 | 0 | 0 |
| HYATT HOTELS CORP COM CL A | Stock | 448579102 |  | 236979 | 2620 | SH |  | SOLE | 0 | 2620 | 0 | 0 |
| EASTGROUP PPTYS INC COM | REIT | 277276101 |  | 940181 | 6350 | SH |  | SOLE | 0 | 6350 | 0 | 0 |
| BROOKFIELD RENEWABLE PARTNERS PARTNERSHIP UNIT | Stock | G16258108 |  | 5716324 | 225585 | SH |  | SOLE | 0 | 225585 | 0 | 0 |
| UDR INC COM | REIT | 902653104 |  | 211311 | 5456 | SH |  | SOLE | 0 | 5456 | 0 | 0 |
| BROOKFIELD CORP CL A LTD VT SH | Stock | 11271J107 |  | 22466058 | 714115 | SH |  | SOLE | 0 | 708707 | 0 | 5408 |
| HOWARD HUGHES CORP COM | Stock | 44267D107 |  | 1511740 | 19782 | SH |  | SOLE | 0 | 19782 | 0 | 0 |
| CONSOLIDATED EDISON INC COM | Stock | 209115104 |  | 205360 | 2155 | SH |  | SOLE | 0 | 2154 | 0 | 0 |
| GENERAL MTRS CO COM | Stock | 37045V100 |  | 408098 | 12131 | SH |  | SOLE | 0 | 10625 | 0 | 1506 |
| APOLLO GLOBAL MGMT INC COM | Stock | 03769M106 |  | 1594750 | 25000 | SH |  | SOLE | 0 | 25000 | 0 | 0 |
| DUKE ENERGY CORP NEW COM NEW | Stock | 26441C204 |  | 422479 | 4102 | SH |  | SOLE | 0 | 4102 | 0 | 0 |
| BROOKFIELD INFRASTRUCTURE CORP COM SB VTG SHS A | Stock | 11275Q107 |  | 1632789 | 41974 | SH |  | SOLE | 0 | 41642 | 0 | 332 |
| TRAVEL PLUS LEISURE CO COM | Stock | 894164102 |  | 277836 | 7633 | SH |  | SOLE | 0 | 7632 | 0 | 0 |
| BROOKFIELD RENEWABLE CORP CL A SUB VTG | Stock | 11284V105 |  | 1562234 | 56726 | SH |  | SOLE | 0 | 56726 | 0 | 0 |
| MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP | Stock | 559080106 |  | 9228811 | 183804 | SH |  | SOLE | 0 | 183804 | 0 | 0 |
| VIATRIS INC COM | Stock | 92556V106 |  | 119289 | 10718 | SH |  | SOLE | 0 | 10717 | 0 | 0 |
| DIMENSIONAL INTERNATIONAL CORE EQUITY MARKET ETF | ETF | 25434V203 |  | 247844 | 9898 | SH |  | SOLE | 0 | 9897 | 0 | 0 |
| XYLEM INC COM | Stock | 98419M100 |  | 285838 | 2585 | SH |  | SOLE | 0 | 2585 | 0 | 0 |
| ORGANON  CO COMMON STOCK | Stock | 68622V106 |  | 405377 | 14514 | SH |  | SOLE | 0 | 14514 | 0 | 0 |
| DIMENSIONAL US SMALL CAP ETF | ETF | 25434V500 |  | 468126 | 9152 | SH |  | SOLE | 0 | 9152 | 0 | 0 |
| BLACKSTONE SECD LENDING FD COMMON STOCK | CEF | 09261X102 |  | 2544592 | 113852 | SH |  | SOLE | 0 | 108352 | 0 | 5500 |
| PHILLIPS 66 COM | Stock | 718546104 |  | 926624 | 8903 | SH |  | SOLE | 0 | 8903 | 0 | 0 |
| WARNER BROS DISCOVERY INC COM SER A | Stock | 934423104 |  | 298734 | 31512 | SH |  | SOLE | 0 | 31512 | 0 | 0 |
| MONDELEZ INTL INC CL A | Stock | 609207105 |  | 517071 | 7758 | SH |  | SOLE | 0 | 7758 | 0 | 0 |
| WP CAREY INC COM | REIT | 92936U109 |  | 5248234 | 67156 | SH |  | SOLE | 0 | 67155 | 0 | 0 |
| MPLX LP COM UNIT REP LTD | Stock | 55336V100 |  | 5415235 | 164898 | SH |  | SOLE | 0 | 164897 | 0 | 0 |
| MARTIN MARIETTA MATLS INC COM | Stock | 573284106 |  | 1166549 | 3452 | SH |  | SOLE | 0 | 3451 | 0 | 0 |
| HSBC HLDGS PLC SPON ADR NEW | ADR | 404280406 |  | 847552 | 27200 | SH |  | SOLE | 0 | 27200 | 0 | 0 |
| NEW YORK CMNTY BANCORP INC COM | Stock | 649445103 |  | 255474 | 29706 | SH |  | SOLE | 0 | 29706 | 0 | 0 |
| BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS | Stock | 113004105 |  | 7622292 | 265863 | SH |  | SOLE | 0 | 263014 | 0 | 2849 |
| KINDER MORGAN INC DEL COM | Stock | 49456B101 |  | 2264085 | 125226 | SH |  | SOLE | 0 | 125225 | 0 | 0 |
| WHITE MTNS INS GROUP LTD COM | Stock | G9618E107 |  | 988003 | 699 | SH |  | SOLE | 0 | 698 | 0 | 0 |
| ACCENTURE PLC IRELAND SHS CLASS A | Stock | G1151C101 |  | 388786 | 1457 | SH |  | SOLE | 0 | 1457 | 0 | 0 |
| ENBRIDGE INC COM | Stock | 29250N105 |  | 2913888 | 74524 | SH |  | SOLE | 0 | 71244 | 0 | 3280 |
| ABBVIE INC COM | Stock | 00287Y109 |  | 992932 | 6144 | SH |  | SOLE | 0 | 6144 | 0 | 0 |
| MANULIFE FINL CORP COM | Stock | 56501R106 |  | 214080 | 12000 | SH |  | SOLE | 0 | 12000 | 0 | 0 |
| NATIONAL FUEL GAS CO COM | Stock | 636180101 |  | 215757 | 3408 | SH |  | SOLE | 0 | 3408 | 0 | 0 |
| LIBERTY GLOBAL PLC SHS CL A | Stock | G5480U104 |  | 388917 | 20545 | SH |  | SOLE | 0 | 20545 | 0 | 0 |
| ZIMMER BIOMET HOLDINGS INC COM | Stock | 98956P102 |  | 632400 | 4960 | SH |  | SOLE | 0 | 4960 | 0 | 0 |
| BLACKSTONE MTG TR INC COM CL A | REIT | 09257W100 |  | 1830138 | 86450 | SH |  | SOLE | 0 | 86449 | 0 | 0 |
| MCDONALDS CORP COM | Stock | 580135101 |  | 760610 | 2886 | SH |  | SOLE | 0 | 2886 | 0 | 0 |
| LIBERTY GLOBAL PLC SHS CL C | Stock | G5480U120 |  | 5470886 | 281569 | SH |  | SOLE | 0 | 279269 | 0 | 2300 |
| NEWS CORP NEW CL A | Stock | 65249B109 |  | 217363 | 11943 | SH |  | SOLE | 0 | 11943 | 0 | 0 |
| AT INC COM | Stock | 00206R102 |  | 1126739 | 61203 | SH |  | SOLE | 0 | 61202 | 0 | 0 |
| GENERAL ELECTRIC CO COM NEW | Stock | 369604301 |  | 864649 | 10319 | SH |  | SOLE | 0 | 10319 | 0 | 0 |
| ONEOK INC NEW COM | Stock | 682680103 |  | 4743402 | 72198 | SH |  | SOLE | 0 | 72197 | 0 | 0 |
| WELLS FARGO CO NEW COM | Stock | 949746101 |  | 2893615 | 70080 | SH |  | SOLE | 0 | 68655 | 0 | 1425 |
| ISHARES PREFERRED  INCOME SECURITIES ETF | ETF | 464288687 |  | 261190 | 8555 | SH |  | SOLE | 0 | 8555 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC COM | Stock | 883556102 |  | 681321 | 1237 | SH |  | SOLE | 0 | 1237 | 0 | 0 |
| LOCKHEED MARTIN CORP COM | Stock | 539830109 |  | 896331 | 1842 | SH |  | SOLE | 0 | 1842 | 0 | 0 |
| JPMORGAN CHASE  CO COM | Stock | 46625H100 |  | 2897673 | 21608 | SH |  | SOLE | 0 | 21608 | 0 | 0 |
| HARTFORD FINL SVCS GROUP INC COM | Stock | 416515104 |  | 379150 | 5000 | SH |  | SOLE | 0 | 5000 | 0 | 0 |
| CHEVRON CORP NEW COM | Stock | 166764100 |  | 2739799 | 15264 | SH |  | SOLE | 0 | 14421 | 0 | 842 |
| CONOCOPHILLIPS COM | Stock | 20825C104 |  | 2794240 | 23680 | SH |  | SOLE | 0 | 23680 | 0 | 0 |
| MARKEL CORP COM | Stock | 570535104 |  | 919608 | 698 | SH |  | SOLE | 0 | 698 | 0 | 0 |
| WALMART INC COM | Stock | 931142103 |  | 376633 | 2656 | SH |  | SOLE | 0 | 2656 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS COM | Stock | 459200101 |  | 401656 | 2851 | SH |  | SOLE | 0 | 2850 | 0 | 0 |
| TEXAS INSTRS INC COM | Stock | 882508104 |  | 7886777 | 47735 | SH |  | SOLE | 0 | 47735 | 0 | 0 |
| PFIZER INC COM | Stock | 717081103 |  | 7211263 | 140735 | SH |  | SOLE | 0 | 139081 | 0 | 1653 |
| AMERICAN EXPRESS CO COM | Stock | 025816109 |  | 1169666 | 7917 | SH |  | SOLE | 0 | 7916 | 0 | 0 |
| BLACKROCK ENHANCED INTL DIV TR COM BENE INTER | CEF | 092524107 |  | 69649 | 13874 | SH |  | SOLE | 0 | 13874 | 0 | 0 |
| ENSTAR GROUP LIMITED SHS | Stock | G3075P101 |  | 4316520 | 18683 | SH |  | SOLE | 0 | 18308 | 0 | 375 |
| LIBERTY MEDIA CORP DEL COM SER C FRMLA | Stock | 531229854 |  | 208393 | 3486 | SH |  | SOLE | 0 | 3486 | 0 | 0 |
| BROOKFIELD INFRAST PARTNERS LP LP INT UNIT | Stock | G16252101 |  | 9611951 | 310163 | SH |  | SOLE | 0 | 307163 | 0 | 3000 |
| LIBERTY BROADBAND CORP COM SER C | Stock | 530307305 |  | 730590 | 9579 | SH |  | SOLE | 0 | 9579 | 0 | 0 |
| CIMPRESS PLC SHS EURO | Stock | G2143T103 |  | 2277991 | 82506 | SH |  | SOLE | 0 | 82506 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO COM | Stock | 110122108 |  | 2387311 | 33180 | SH |  | SOLE | 0 | 33180 | 0 | 0 |
| CITIGROUP INC COM NEW | Stock | 172967424 |  | 2779361 | 61449 | SH |  | SOLE | 0 | 60226 | 0 | 1222 |
| EXXON MOBIL CORP COM | Stock | 30231G102 |  | 4117316 | 37328 | SH |  | SOLE | 0 | 35757 | 0 | 1570 |
| TRAVELERS COMPANIES INC COM | Stock | 89417E109 |  | 532472 | 2840 | SH |  | SOLE | 0 | 2840 | 0 | 0 |
| DEERE  CO COM | Stock | 244199105 |  | 1692357 | 3947 | SH |  | SOLE | 0 | 3947 | 0 | 0 |
| TRITON INTL LTD CL A | Stock | G9078F107 |  | 1038709 | 15102 | SH |  | SOLE | 0 | 15101 | 0 | 0 |
| DEVON ENERGY CORP NEW COM | Stock | 25179M103 |  | 547562 | 8902 | SH |  | SOLE | 0 | 8902 | 0 | 0 |
| RAYONIER INC COM | REIT | 754907103 |  | 2692766 | 81698 | SH |  | SOLE | 0 | 81698 | 0 | 0 |
| LIBERTY LATIN AMERICA LTD COM CL C | Stock | G9001E128 |  | 758746 | 99835 | SH |  | SOLE | 0 | 99835 | 0 | 0 |
| CHARLES SCHWAB CORP COM | Stock | 808513105 |  | 15357701 | 184455 | SH |  | SOLE | 0 | 180192 | 0 | 4262 |
| CARDINAL HEALTH INC COM | Stock | 14149Y108 |  | 211623 | 2753 | SH |  | SOLE | 0 | 2753 | 0 | 0 |
| TORONTO DOMINION BK ONT COM NEW | Stock | 891160509 |  | 265516 | 4100 | SH |  | SOLE | 0 | 2434 | 0 | 1666 |
| APPLE INC COM | Stock | 037833100 |  | 1189310 | 9153 | SH |  | SOLE | 0 | 9153 | 0 | 0 |
| ABBOTT LABS COM | Stock | 002824100 |  | 1183975 | 10784 | SH |  | SOLE | 0 | 10784 | 0 | 0 |
| WALT DISNEY CO COM | Stock | 254687106 |  | 4644481 | 53459 | SH |  | SOLE | 0 | 53458 | 0 | 0 |
| CSW INDUSTRIALS INC COM | Stock | 126402106 |  | 347790 | 3000 | SH |  | SOLE | 0 | 3000 | 0 | 0 |

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