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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
-0.1%
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
$3.37B
AUM Growth
-$292M
Cap. Flow
-$275M
Cap. Flow %
-8.16%
Top 10 Hldgs %
47.48%
Holding
415
New
86
Increased
59
Reduced
59
Closed
65

Top Buys

Rank Stock Value
1
BPRE
Bluerock Private Real Estate Fund
BPRE
+$47.4M
2
ASA
ASA Gold and Precious Metals
ASA
+$37.3M
3
BSTZ icon
BlackRock Science and Technology Term Trust
BSTZ
+$19.2M
4
NFJ
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
+$14.6M
5
RMT
Royce Micro-Cap Trust
RMT
+$12.5M

Top Sells

Rank Stock Value
1
EVM
Eaton Vance California Municipal Bond Fund
EVM
+$43.1M
2
ENX
Eaton Vance New York Municipal Bond Fund
ENX
+$38.4M
3
ADX icon
Adams Diversified Equity Fund
ADX
+$29.9M
4
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$23.5M
5
NQP
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
+$20.7M

Sector Composition

Rank Sector Weight
1 Financials 7.78%
2 Technology 2.83%
3 Communication Services 2.24%
4 Consumer Discretionary 2.07%
5 Industrials 1.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HFRO
26
Highland Opportunities and Income Fund
HFRO
$391M
$28M 0.83%
4,674,016
+944,136
+25% +$5.91M
RMT
27
Royce Micro-Cap Trust
RMT
$768M
$27.3M 0.81%
2,614,909
+1,206,828
+86% +$12.5M
CNNE icon
28
Cannae Holdings
CNNE
$672M
$27M 0.8%
1,714,994
+323,531
+23% +$5.51M
MSTR icon
29
PUT
Strategy Inc
MSTR
$47.4B
$25.8M 0.77%
+170,000
New +$39.1M
GF
30
New Germany Fund
GF
$186M
$25.2M 0.75%
2,210,555
+256,443
+13% +$2.85M
IIF
31
Morgan Stanley India Investment Fund
IIF
$219M
$24.7M 0.73%
988,924
-28,028
-3% -$748K
DIAX
32
DELISTED
Nuveen Dow 30SM Dynamic Overwrite Fund
DIAX
$24.4M 0.73%
1,599,746
+565,320
+55% +$8.41M
BABA icon
33
PUT
Alibaba
BABA
$286B
$24.3M 0.72%
+165,900
New +$27M
RVT icon
34
Royce Value Trust
RVT
$2.32B
$23.1M 0.69%
1,437,153
+32,980
+2% +$529K
TY icon
35
TRI-Continental Corp
TY
$1.89B
$22.9M 0.68%
701,601
+53,917
+8% +$1.82M
SHOP icon
36
PUT
Shopify
SHOP
$192B
$21.8M 0.65%
135,200
+14,500
+12% +$2.33M
EVTL icon
37
Vertical Aerospace
EVTL
$132M
$21M 0.63%
3,949,044
-148,813
-4% -$754K
WB icon
38
Weibo
WB
$1.73B
$20.6M 0.61%
2,015,063
– –
GRX
39
Gabelli Healthcare & Wellness Trust
GRX
$150M
$20.4M 0.61%
2,118,201
+67,166
+3% +$631K
DMA
40
Destra Multi-Alternative Fund
DMA
$67.9M
$19.9M 0.59%
2,220,648
-14,496
-0.6% -$127K
ECF
41
Ellsworth Growth & Income Fund
ECF
$171M
$19.5M 0.58%
1,680,620
+45,368
+3% +$541K
BMBL icon
42
Bumble
BMBL
$370M
$19.1M 0.57%
5,337,549
+1,838,923
+53% +$8.14M
JOF
43
Japan Smaller Capitalization Fund
JOF
$352M
$18.1M 0.54%
1,632,530
-644,054
-28% -$6.77M
SABA
44
Saba Capital Income & Opportunities Fund II
SABA
$219M
$18.1M 0.54%
2,190,968
-438,834
-17% -$3.83M
GLO
45
Clough Global Opportunities Fund
GLO
$248M
$17.2M 0.51%
3,045,940
+377,341
+14% +$2.15M
DMB
46
BNY Mellon Municipal Bond Infrastructure Fund
DMB
$193M
$17.2M 0.51%
1,565,016
+315,971
+25% +$3.39M
RDAG
47
Republic Digital Acquisition Co
RDAG
$390M
$16.7M 0.5%
1,645,960
-4,040
-0.2% -$41.4K
WENN
48
Wen Acquisition Corp
WENN
$15.8M 0.47%
1,563,222
– –
BFZ
49
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$14M 0.41%
1,299,311
-1,468,713
-53% -$16M
IAE
50
Voya Asia Pacific High Dividend Equity Income Fund
IAE
$95M
$13.2M 0.39%
1,816,687
– –
1
2
3 4 5

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Boaz Weinstein's Q4 2025 Portfolio in Review

As of Q4 2025, Boaz Weinstein held 415 positions worth $3.37B, down 8% from $3.66B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Boaz Weinstein withdrew a net $275M in Q4 2025, closing 65 positions and reducing 59 holdings. Its most notable exit was Eaton Vance California Municipal Bond Fund, an estimated $43.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.8% of assets, up from 4.4% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Boaz Weinstein opened a new position in Bluerock Private Real Estate Fund worth $46.1M.

  • Boaz Weinstein's largest Q4 2025 buy was Bluerock Private Real Estate Fund: 3,074,615 shares worth $46.1M.
  • Boaz Weinstein added most to ASA Gold and Precious Metals in Q4 2025, an estimated $37.3M increase.
  • Boaz Weinstein's biggest Q4 2025 reduction was BlackRock ESG Capital Allocation Term Trust, cutting an estimated $23.5M.
  • Boaz Weinstein fully exited Eaton Vance California Municipal Bond Fund in Q4 2025, selling an estimated $43.1M.
  • Boaz Weinstein's ten largest holdings make up 47% of its $3.37B portfolio in Q4 2025.
  • Boaz Weinstein opened 86 new positions and closed 65 in Q4 2025.
  • Boaz Weinstein's portfolio value fell 8% quarter-over-quarter to $3.37B.

Based on Saba Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.