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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
-3.37%
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
$1.25B
AUM Growth
-$521M
Cap. Flow
-$435M
Cap. Flow %
-34.86%
Top 10 Hldgs %
36.8%
Holding
204
New
20
Increased
21
Reduced
99
Closed
56

Top Buys

Rank Stock Value
1
BND icon
Vanguard Total Bond Market
BND
+$17.3M
2
CNX icon
CNX Resources
CNX
+$5.94M
3
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$4.62M
4
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$4.11M
5
IGLB icon
iShares 10+ Year Investment Grade Corporate Bond ETF
IGLB
+$2.71M

Top Sells

Rank Stock Value
1
IGSB icon
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
+$24.1M
2
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$16.2M
3
VCLT icon
Vanguard Long-Term Corporate Bond ETF
VCLT
+$15.3M
4
BTU
PEABODY ENERGY CORP COM STK NEW (DE)
BTU
+$14.2M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$13.9M

Sector Composition

Rank Sector Weight
1 Financials 6.26%
2 Industrials 2.95%
3 Energy 2.17%
4 Materials 1.74%
5 Consumer Discretionary 1.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MCR
26
DELISTED
MFS Charter Income Trust
MCR
$15.3M 1.23%
1,663,266
-916,932
-36% -$8.07M
MUR icon
27
PUT
Murphy Oil
MUR
$5.36B
$15.2M 1.22%
+300,000
New +$15.4M
GDO
28
Western Asset Global Corporate Defined Opportunity Fund
GDO
$77.3M
$15.1M 1.21%
848,772
-92,634
-10% -$1.65M
FTF
29
Franklin Limited Duration Income Trust
FTF
$234M
$15.1M 1.21%
1,237,813
-161,455
-12% -$1.98M
EMD
30
Western Asset Emerging Markets Debt Fund
EMD
$616M
$14.5M 1.16%
921,565
-40,311
-4% -$669K
VXX
31
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$14.3M 1.15%
28,394
-2,856
-9% -$1.4M
TLM
32
DELISTED
TALISMAN ENERGY INC
TLM
$12.6M 1.01%
1,610,260
-1,553,556
-49% -$9.76M
NHS
33
Neuberger High Yield Strategies Fund Inc
NHS
$249M
$12.1M 0.97%
987,417
-98,477
-9% -$1.25M
KHI
34
DELISTED
Deutsche High Income Trust
KHI
$11.6M 0.93%
1,328,512
+46,854
+4% +$414K
BGX
35
Blackstone Long-Short Credit Income Fund
BGX
$137M
$10.7M 0.86%
686,581
+9,037
+1% +$146K
PDT
36
John Hancock Premium Dividend Fund
PDT
$620M
$10.5M 0.85%
766,901
-457,851
-37% -$6.25M
HYF
37
DELISTED
MANAGED HIGH YLD PLUS FD INC
HYF
$10.5M 0.84%
5,831,973
-14,827
-0.3% -$28.9K
DHG
38
DELISTED
Deutsche High Incm Opportunities
DHG
$10.3M 0.82%
733,003
– –
BHK icon
39
BlackRock Core Bond Trust
BHK
$644M
$9.91M 0.8%
750,974
-335,225
-31% -$4.45M
B
40
Barrick Mining
B
$78.3B
$9.47M 0.76%
881,344
+132,000
+18% +$1.63M
BWG
41
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$130M
$9.03M 0.72%
540,511
-74,951
-12% -$1.27M
VRE
42
DELISTED
Veris Residential
VRE
$8.99M 0.72%
471,634
+526
+0.1% +$10.1K
VTA
43
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$8.88M 0.71%
749,394
+345,979
+86% +$4.11M
KMM
44
DELISTED
Deutsche Multi-Market Incm Trust
KMM
$8.87M 0.71%
1,041,482
+26,415
+3% +$230K
LQD icon
45
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33.1B
$7.85M 0.63%
65,753
+38,810
+144% +$4.62M
FSD
46
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
$7.63M 0.61%
476,666
-98,891
-17% -$1.65M
BOI
47
DELISTED
Brookfield Mtge Opportunity Fd
BOI
$7.17M 0.58%
436,319
-148,415
-25% -$2.49M
PIM
48
Franklin Master Intermediate Income Trust
PIM
$152M
$7.17M 0.58%
1,490,812
-705,407
-32% -$3.5M
JHP
49
DELISTED
NUVEEN QUALITY PREFERRED INCOME FUND 3
JHP
$7.15M 0.57%
858,778
-57,835
-6% -$488K
AIF
50
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$6.48M 0.52%
406,212
-140,772
-26% -$2.38M
1
2
3 4 5

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LNC
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Boaz Weinstein's Q4 2014 Portfolio in Review

As of Q4 2014, Boaz Weinstein held 204 positions worth $1.25B, down 29% from $1.77B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Boaz Weinstein withdrew a net $435M in Q4 2014, closing 56 positions and reducing 99 holdings. Its most notable exit was iShares 1-5 Year Investment Grade Corporate Bond ETF, an estimated $24.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.3% of assets, down from 8.2% a quarter earlier, followed by Industrials and Energy.

Against the trend, Boaz Weinstein opened a new position in Vanguard Total Bond Market worth $17.2M.

  • Boaz Weinstein's largest Q4 2014 buy was Vanguard Total Bond Market: 209,205 shares worth $17.2M.
  • Boaz Weinstein added most to iShares iBoxx $ Investment Grade Corporate Bond ETF in Q4 2014, an estimated $4.62M increase.
  • Boaz Weinstein's biggest Q4 2014 reduction was PEABODY ENERGY CORP COM STK NEW (DE), cutting an estimated $14.2M.
  • Boaz Weinstein fully exited iShares 1-5 Year Investment Grade Corporate Bond ETF in Q4 2014, selling an estimated $24.1M.
  • Boaz Weinstein's ten largest holdings make up 37% of its $1.25B portfolio in Q4 2014.
  • Boaz Weinstein opened 20 new positions and closed 56 in Q4 2014.
  • Boaz Weinstein's portfolio value fell 29% quarter-over-quarter to $1.25B.

Based on Saba Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.