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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
(+43%)
Cap. Flow
+$461M
Cap. Flow
% of AUM
26.79%
Top 10 Holdings %
Top 10 Hldgs %
33.92%
Holding
240
New
78
Increased
73
Reduced
37
Closed
39
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
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 |
iShares Core US Aggregate Bond ETF
AGG
|
+$29.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
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 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$16.7M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
|
LXK
51
PUT
DELISTED
Lexmark Intl Inc
LXK
| $8.88M | 0.52% |
250,000
| – | – |
|
|
B
52
Barrick Mining
B
$78.3B
| $8.88M | 0.52% |
503,643
+425,841
| +547% | +$7.51M |
|
|
HYI
53
Western Asset High Yield Opportunity Fund Inc
HYI
$134M
| $8.52M | 0.49% |
480,866
+281,969
| +142% | +$5M |
|
|
ACG
54
DELISTED
AllianceBernstein Income Fund Inc
ACG
| $8.49M | 0.49% |
+1,190,287
| New | +$8.39M |
|
|
AIF
55
DELISTED
Apollo Tactical Income Fund Inc.
AIF
| $8.46M | 0.49% |
469,813
+69,307
| +17% | +$1.2M |
|
|
AKS
56
DELISTED
AK Steel Holding Corp
AKS
| $8.32M | 0.48% |
+1,015,186
| New | +$5.36M |
|
57
Entergy
ETR
$48.8B
| $8.21M | 0.48% |
259,414
+61,080
| +31% | +$1.95M |
|
58
Teekay
TK
$1.16B
| $8.2M | 0.48% |
170,842
-161,232
| -49% | -$7.06M |
|
|
MCR
59
DELISTED
MFS Charter Income Trust
MCR
| $8.11M | 0.47% |
895,814
+836,415
| +1,408% | +$7.49M |
|
60
MGM Resorts International
MGM
$11B
| $7.92M | 0.46% |
336,565
-18,700
| -5% | -$381K |
|
61
Invesco Bond Fund
VBF
$167M
| $7.89M | 0.46% |
+445,890
| New | +$7.92M |
|
|
NHS
62
Neuberger High Yield Strategies Fund Inc
NHS
$249M
| $7.42M | 0.43% |
559,774
+377,551
| +207% | +$4.99M |
|
|
PDT
63
John Hancock Premium Dividend Fund
PDT
$620M
| $7.05M | 0.41% |
+607,591
| New | +$7.27M |
|
|
VRE
64
DELISTED
Veris Residential
VRE
| $6.82M | 0.4% |
317,297
+174,837
| +123% | +$3.67M |
|
|
FPF
65
First Trust Intermediate Duration Preferred & Income Fund
FPF
$1.08B
| $6.45M | 0.37% |
303,356
+84,092
| +38% | +$1.75M |
|
|
BNA
66
DELISTED
BLACKROCK INCOME OPPORTUNITY TRUST INC
BNA
| $6.43M | 0.37% |
663,044
+240,612
| +57% | +$2.36M |
|
67
Dillards
DDS
$9.71B
| $6.19M | 0.36% |
63,647
-4,343
| -6% | -$376K |
|
|
DHG
68
DELISTED
Deutsche High Incm Opportunities
DHG
| $6.1M | 0.35% |
+423,737
| New | +$6M |
|
|
EHI
69
Western Asset Global High Income Fund
EHI
$175M
| $6.09M | 0.35% |
497,876
+102,247
| +26% | +$1.26M |
|
70
Stanley Black & Decker
SWK
$15.1B
| $6.09M | 0.35% |
75,428
-62,145
| -45% | -$5.09M |
|
|
BOI
71
DELISTED
Brookfield Mtge Opportunity Fd
BOI
| $5.99M | 0.35% |
361,618
+122,022
| +51% | +$2.02M |
|
72
Freeport-McMoran
FCX
$110B
| $5.82M | 0.34% |
+154,190
| New | +$5.47M |
|
73
Flex
FLEX
$40.8B
| $5.71M | 0.33% |
+975,894
| New | +$5.93M |
|
|
HYF
74
DELISTED
MANAGED HIGH YLD PLUS FD INC
HYF
| $5.69M | 0.33% |
2,801,403
+2,058,168
| +277% | +$4.19M |
|
75
MBIA
MBI
$250M
| $5.58M | 0.32% |
466,898
-732,102
| -61% | -$8.43M |
|
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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.