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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
+8.29%
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
$3.66B
AUM Growth
-$599M
Cap. Flow
-$853M
Cap. Flow %
-23.31%
Top 10 Hldgs %
44.39%
Holding
376
New
53
Increased
42
Reduced
87
Closed
47

Top Buys

Rank Stock Value
1
ASA
ASA Gold and Precious Metals
ASA
+$50.9M
2
RVT icon
Royce Value Trust
RVT
+$22.1M
3
TY icon
TRI-Continental Corp
TY
+$17M
4
WENN
Wen Acquisition Corp
WENN
+$15.9M
5
GAM
General American Investors Company
GAM
+$14.1M

Top Sells

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$445M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$101M
3
MHI
Pioneer Municipal High Income Fund
MHI
+$38.5M
4
ADX icon
Adams Diversified Equity Fund
ADX
+$33.4M
5
MAV
Pioneer Municipal High Income Advantage Fund
MAV
+$33.3M

Sector Composition

Rank Sector Weight
1 Financials 4.4%
2 Technology 2.69%
3 Communication Services 2.13%
4 Consumer Discretionary 1.37%
5 Industrials 1.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DSM
26
BNY Mellon Strategic Municipal Bond Fund
DSM
$287M
$30.5M 0.83%
5,152,591
– –
BFZ
27
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$30.3M 0.83%
2,768,024
-1,924,693
-41% -$20.5M
ADX icon
28
Adams Diversified Equity Fund
ADX
$3.23B
$29.9M 0.82%
1,339,238
-1,530,915
-53% -$33.4M
BOE icon
29
BlackRock Enhanced Global Dividend Trust
BOE
$689M
$27.7M 0.76%
2,394,538
+222,527
+10% +$2.55M
IIF
30
Morgan Stanley India Investment Fund
IIF
$219M
$26.8M 0.73%
1,016,952
– –
CNNE icon
31
Cannae Holdings
CNNE
$672M
$25.5M 0.7%
1,391,463
-544,458
-28% -$10.8M
MXF
32
Mexico Fund
MXF
$318M
$25.2M 0.69%
1,277,694
+410,832
+47% +$7.44M
WB icon
33
Weibo
WB
$1.73B
$25M 0.68%
2,015,063
-602,294
-23% -$6.59M
CRWD icon
34
PUT
CrowdStrike
CRWD
$195B
$24.1M 0.66%
+196,800
New +$22.4M
JOF
35
Japan Smaller Capitalization Fund
JOF
$352M
$24M 0.66%
2,276,584
+169,429
+8% +$1.74M
SABA
36
Saba Capital Income & Opportunities Fund II
SABA
$219M
$24M 0.66%
2,629,802
-135,168
-5% -$1.25M
HFRO
37
Highland Opportunities and Income Fund
HFRO
$391M
$23.7M 0.65%
3,729,880
+1,458,721
+64% +$8.55M
TSLA icon
38
PUT
Tesla
TSLA
$1.43T
$23.1M 0.63%
+51,900
New +$18M
RVT icon
39
Royce Value Trust
RVT
$2.32B
$22.6M 0.62%
+1,404,173
New +$22.1M
GF
40
New Germany Fund
GF
$186M
$22.6M 0.62%
1,954,112
+15,723
+0.8% +$185K
TY icon
41
TRI-Continental Corp
TY
$1.89B
$22M 0.6%
647,684
+515,716
+391% +$17M
BMBL icon
42
Bumble
BMBL
$370M
$21.3M 0.58%
3,498,626
-753,736
-18% -$5.15M
EVTL icon
43
Vertical Aerospace
EVTL
$132M
$21.3M 0.58%
4,097,857
-217,844
-5% -$1.21M
DMA
44
Destra Multi-Alternative Fund
DMA
$67.9M
$19.3M 0.53%
2,235,144
+277,090
+14% +$2.41M
ECF
45
Ellsworth Growth & Income Fund
ECF
$171M
$19M 0.52%
1,635,252
+8,031
+0.5% +$87.3K
GRX
46
Gabelli Healthcare & Wellness Trust
GRX
$150M
$18.6M 0.51%
2,051,035
+74,160
+4% +$691K
TEAF
47
DELISTED
Ecofin Sustainable & Social Impact Term Fund
TEAF
$18.2M 0.5%
1,549,226
– –
SHOP icon
48
PUT
Shopify
SHOP
$192B
$17.9M 0.49%
+120,700
New +$16.4M
RDAG
49
Republic Digital Acquisition Co
RDAG
$390M
$16.8M 0.46%
1,650,000
-250,000
-13% -$2.57M
BCAT icon
50
BlackRock Capital Allocation Term Trust
BCAT
$1.67B
$15.9M 0.44%
1,078,049
-6,724,424
-86% -$101M
1
2
3 4 5

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Boaz Weinstein's Q3 2025 Portfolio in Review

As of Q3 2025, Boaz Weinstein held 376 positions worth $3.66B, down 14% from $4.26B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Boaz Weinstein withdrew a net $853M in Q3 2025, closing 47 positions and reducing 87 holdings. Its most notable exit was BlackRock Technology and Private Equity Term Trust, an estimated $445M position sold in full.

By sector, the portfolio is most concentrated in Financials at 4.4% of assets, up from 2.6% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Boaz Weinstein opened a new position in Royce Value Trust worth $22.6M.

  • Boaz Weinstein's largest Q3 2025 buy was Royce Value Trust: 1,404,173 shares worth $22.6M.
  • Boaz Weinstein added most to ASA Gold and Precious Metals in Q3 2025, an estimated $50.9M increase.
  • Boaz Weinstein's biggest Q3 2025 reduction was BlackRock Capital Allocation Term Trust, cutting an estimated $101M.
  • Boaz Weinstein fully exited BlackRock Technology and Private Equity Term Trust in Q3 2025, selling an estimated $445M.
  • Boaz Weinstein's ten largest holdings make up 44% of its $3.66B portfolio in Q3 2025.
  • Boaz Weinstein opened 53 new positions and closed 47 in Q3 2025.
  • Boaz Weinstein's portfolio value fell 14% quarter-over-quarter to $3.66B.

Based on Saba Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.