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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
-3.79%
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
$4.27B
AUM Growth
-$530M
Cap. Flow
-$408M
Cap. Flow %
-9.56%
Top 10 Hldgs %
53.58%
Holding
370
New
14
Increased
54
Reduced
78
Closed
84

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$33.6M
2
TYG
Tortoise Energy Infrastructure Corp
TYG
+$24.1M
3
GAM
General American Investors Company
GAM
+$23M
4
CNNE icon
Cannae Holdings
CNNE
+$21.3M
5
GDV icon
Gabelli Dividend & Income Trust
GDV
+$19.8M

Top Sells

Rank Stock Value
1
VMO icon
Invesco Municipal Opportunity Trust
VMO
+$40.2M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$40.2M
3
NAC icon
Nuveen California Quality Municipal Income Fund
NAC
+$34M
4
VTN icon
Invesco Trust for Investment Grade New York Municipals
VTN
+$28.7M
5
VPV icon
Invesco Pennsylvania Value Municipal Income Trust
VPV
+$26.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 1.37%
2 Communication Services 1.12%
3 Technology 0.81%
4 Financials 0.81%
5 Industrials 0.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BHACW
351
DELISTED
Focus Impact BH3 Acquisition Company Warrants
BHACW
– –
-11,005
Closed -$398
HHGCW
352
DELISTED
HHG Capital Corporation Warrant
HHGCW
– –
-212,478
Closed -$1.23K
KSM
353
DELISTED
DWS Strategic Municipal Income Trust
KSM
– –
-1,598,145
Closed -$16.3M
NTG
354
DELISTED
Tortoise Midstream Energy Fund, Inc. Common Stock
NTG
– –
-515,767
Closed -$24.5M
TTP
355
DELISTED
TORTOISE PIPELINE & ENERGY FUND, INC.
TTP
– –
-181,093
Closed -$7.64M
MNTN.WS
356
DELISTED
Everest Consolidator Acquisition Corporation Warrants, each whole warrant exercisable for one share of Class A Common Stock, at an exercise price of $11.50
MNTN.WS
– –
-624,379
Closed -$17.7K
DUETW
357
DELISTED
DUET Acquisition Corp. Warrant
DUETW
– –
-100,000
Closed -$2.28K
TLGYW
358
DELISTED
TLGY Acquisition Corporation Warrant
TLGYW
– –
-993,852
Closed -$44.5K
NPABW
359
DELISTED
New Providence Acquisition Corp. II Warrant
NPABW
– –
-145,991
Closed -$5.48K
SEDA.WS
360
DELISTED
SDCL EDGE Acquisition Corporation Redeemable warrants, each whole warrant exercisable for one share of Class A ordinary share at an exercise price of $11.50
SEDA.WS
– –
-23,884
Closed -$2.39K
NOVVW
361
DELISTED
Nova Vision Acquisition Corp. Warrant
NOVVW
– –
-31,088
Closed -$1.4K
GUT.RT
362
DELISTED
The Gabelli Utility Trust Rights (expiring October 21, 2024)
GUT.RT
– –
-1,918,007
Closed -$46.5K
RCFA.WS
363
DELISTED
RCF Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
RCFA.WS
– –
-484,298
Closed -$24.4K
11 12 13 14
15

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Boaz Weinstein's Q4 2024 Portfolio in Review

As of Q4 2024, Boaz Weinstein held 370 positions worth $4.27B, down 11% from $4.8B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Boaz Weinstein withdrew a net $408M in Q4 2024, closing 84 positions and reducing 78 holdings. Its most notable exit was Nuveen California Quality Municipal Income Fund, an estimated $34M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 1.4% of assets, up from 0.85% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Boaz Weinstein opened a new position in Merlin Inc worth $12.1M.

  • Boaz Weinstein's largest Q4 2024 buy was Merlin Inc: 1,224,823 shares worth $12.1M.
  • Boaz Weinstein added most to BlackRock Technology and Private Equity Term Trust in Q4 2024, an estimated $33.6M increase.
  • Boaz Weinstein's biggest Q4 2024 reduction was Invesco Municipal Opportunity Trust, cutting an estimated $40.2M.
  • Boaz Weinstein fully exited Nuveen California Quality Municipal Income Fund in Q4 2024, selling an estimated $34M.
  • Boaz Weinstein's ten largest holdings make up 54% of its $4.27B portfolio in Q4 2024.
  • Boaz Weinstein opened 14 new positions and closed 84 in Q4 2024.
  • Boaz Weinstein's portfolio value fell 11% quarter-over-quarter to $4.27B.

Based on Saba Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.