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Boaz Weinstein Saba Capital Management

AUM $3.9B
1-Year Est. Return 12.9%
 

Boaz Weinstein is the founder of Saba Capital Management, a firm known for credit, derivatives, and event-driven strategies. He previously built a major credit trading franchise at Deutsche Bank before launching Saba. Weinstein is also widely followed for activism in closed-end funds and for views on credit markets and volatility.

This Fund
S&P 500
This Quarter Est. Return
+1.9%
1 Year Est. Return
+12.9%
3 Year Est. Return
+34.99%
5 Year Est. Return
+42.32%
10 Year Est. Return
+54.91%
AUM
$1.72B
AUM Growth
+$520M
Cap. Flow
+$461M
Cap. Flow %
26.79%
Top 10 Hldgs %
33.92%
Holding
240
New
78
Increased
73
Reduced
37
Closed
39

Top Buys

Rank Stock Value
1
HYT icon
BlackRock Corporate High Yield Fund
HYT
+$61.2M
2
EDD
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
+$37.3M
3
GHY
PGIM Global High Yield Fund
GHY
+$34.9M
4
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
+$30.5M
5
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$29.4M

Top Sells

Rank Stock Value
1
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$54.5M
2
MTCN
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
+$17.2M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$16.7M
4
GLNG icon
Golar LNG
GLNG
+$14.4M
5
SPLS
Staples Inc
SPLS
+$12.6M

Sector Composition

Rank Sector Weight
1 Financials 6.86%
2 Consumer Discretionary 4.67%
3 Energy 3.39%
4 Technology 2.58%
5 Consumer Staples 2.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JCP
226
DELISTED
J.C. Penney Company, Inc.
JCP
– –
-630,000
Closed -$5.56M
MTCN
227
DELISTED
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
– –
-800,000
Closed -$17.2M
ANR
228
DELISTED
Alpha Natural Resources Inc
ANR
– –
-138,880
Closed -$828K
BHD
229
DELISTED
BLACKROCK STRATEGIC BOND TRUST
BHD
– –
-150,274
Closed -$1.95M
BHY
230
DELISTED
BLACKROCK HIGH YIELD TST SBI
BHY
– –
-156,404
Closed -$1.08M
HIS
231
DELISTED
BLACKROCK HIGH INCM SHS SHS BEN INT
HIS
– –
-1,641,507
Closed -$3.41M
COY
232
DELISTED
BLACKROCK CORP HIGH YLD FD INC
COY
– –
-879,775
Closed -$6.33M
HYV
233
DELISTED
BALCKROCK CORP HG YLD FD V INC
HYV
– –
-495,845
Closed -$6.01M
FWLT
234
DELISTED
FOSTER WHEELER AG (SWITZERLAND)
FWLT
– –
-438,764
Closed -$11.6M
CYE
235
DELISTED
BLACKROCK CORP HG YLD FD III, INC.
CYE
– –
-643,207
Closed -$4.7M
CYS
236
DELISTED
CYS Investments Inc.
CYS
– –
-16,500
Closed -$134K
SPLS
237
DELISTED
Staples Inc
SPLS
– –
-807,360
Closed -$12.6M
VXX
238
CALL
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-1,563
Closed -$5.88M
VXX
239
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-3,434
Closed -$12.9M
6 7 8 9
10

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Boaz Weinstein's Q4 2013 Portfolio in Review

As of Q4 2013, Boaz Weinstein held 240 positions worth $1.72B, up 43% from $1.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Boaz Weinstein deployed $461M of net new capital in Q4 2013, opening 78 new positions and adding to 73 existing holdings. Its largest new stake was PGIM Global High Yield Fund: 2,022,202 shares worth $35.1M.

By sector, the portfolio is most concentrated in Financials at 6.9% of assets, up from 6.6% a quarter earlier, followed by Consumer Discretionary and Energy.

On the sell side, the largest reduction was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $54.5M trimmed.

  • Boaz Weinstein's largest Q4 2013 buy was PGIM Global High Yield Fund: 2,022,202 shares worth $35.1M.
  • Boaz Weinstein added most to BlackRock Corporate High Yield Fund in Q4 2013, an estimated $61.2M increase.
  • Boaz Weinstein's biggest Q4 2013 reduction was State Street SPDR Bloomberg High Yield Bond ETF, cutting an estimated $54.5M.
  • Boaz Weinstein fully exited ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) in Q4 2013, selling an estimated $17.2M.
  • Boaz Weinstein's ten largest holdings make up 34% of its $1.72B portfolio in Q4 2013.
  • Boaz Weinstein opened 78 new positions and closed 39 in Q4 2013.
  • Boaz Weinstein's portfolio value rose 43% quarter-over-quarter to $1.72B.

Based on Saba Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.