Boaz Weinstein Saba Capital Management
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Total Bond Market
BND
|
+$93.2M |
| 2 |
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
|
+$74M |
| 3 |
iShares Core US Aggregate Bond ETF
AGG
|
+$68.2M |
| 4 |
State Street SPDR Bloomberg High Yield Bond ETF
JNK
|
+$55.6M |
| 5 |
Vanguard Long-Term Corporate Bond ETF
VCLT
|
+$22.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Short-Term Corporate Bond ETF
VCSH
|
+$34.1M |
| 2 |
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
|
+$31.6M |
| 3 |
GHY
PGIM Global High Yield Fund
GHY
|
+$23.3M |
| 4 |
MTOR
MERITOR, Inc.
MTOR
|
+$22.6M |
| 5 |
DSL
DoubleLine Income Solutions Fund
DSL
|
+$21.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 8.24% |
| 2 | Consumer Discretionary | 3.68% |
| 3 | Energy | 2.55% |
| 4 | Industrials | 2.17% |
| 5 | Materials | 1.78% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AVP
51
DELISTED
Avon Products, Inc.
AVP
| $9.13M | 0.48% |
625,265
-199,125
| -24% | -$2.87M |
|
|
FSD
52
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
| $8.93M | 0.47% |
492,244
-2,977
| -0.6% | -$53.4K |
|
53
Unifirst Corp
UNF
$5.25B
| $8.84M | 0.46% |
83,345
+62,583
| +301% | +$6.17M |
|
|
ISD
54
PGIM High Yield Bond Fund
ISD
$409M
| $8.55M | 0.45% |
475,974
-629,077
| -57% | -$11.2M |
|
|
AKS
55
DELISTED
AK Steel Holding Corp
AKS
| $8.52M | 0.45% |
1,070,343
-127,992
| -11% | -$883K |
|
56
Tyson Foods
TSN
$20.6B
| $8.35M | 0.44% |
+222,368
| New | +$8.91M |
|
|
ACG
57
DELISTED
AllianceBernstein Income Fund Inc
ACG
| $7.92M | 0.41% |
1,053,087
| – | – |
|
|
EVV
58
Eaton Vance Limited Duration Income Fund
EVV
$1.05B
| $7.85M | 0.41% |
503,798
-489,961
| -49% | -$7.56M |
|
59
Brunswick
BC
$5.24B
| $7.66M | 0.4% |
181,714
+77,148
| +74% | +$3.26M |
|
60
KBR
KBR
$4.86B
| $7.5M | 0.39% |
314,429
+270,764
| +620% | +$6.79M |
|
|
TLM
61
DELISTED
TALISMAN ENERGY INC
TLM
| $7.5M | 0.39% |
+707,228
| New | +$7.38M |
|
|
MDR
62
PUT
DELISTED
McDermott International
MDR
| $7.28M | 0.38% |
+300,000
| New | +$6.59M |
|
|
TSE
63
DELISTED
Trinseo
TSE
| $7.28M | 0.38% |
+350,000
| New | +$7.52M |
|
|
BNA
64
DELISTED
BLACKROCK INCOME OPPORTUNITY TRUST INC
BNA
| $7.14M | 0.37% |
657,260
-14,166
| -2% | -$150K |
|
65
Quest Diagnostics
DGX
$27B
| $6.96M | 0.36% |
118,504
+38,606
| +48% | +$2.26M |
|
66
BlackRock Limited Duration Income Trust
BLW
$495M
| $6.95M | 0.36% |
401,776
-492,410
| -55% | -$8.51M |
|
67
Healthpeak Properties
DOC
$14.8B
| $6.67M | 0.35% |
177,084
-90,366
| -34% | -$3.4M |
|
|
JTP
68
DELISTED
NUVEEN QUALITY PFD INCOME FD
JTP
| $6.54M | 0.34% |
768,449
-31,980
| -4% | -$266K |
|
69
Whirlpool
WHR
$2.63B
| $6.44M | 0.34% |
+46,271
| New | +$6.79M |
|
|
BOI
70
DELISTED
Brookfield Mtge Opportunity Fd
BOI
| $6.08M | 0.32% |
345,353
-52,415
| -13% | -$904K |
|
71
iShares Broad USD Investment Grade Corporate Bond ETF
USIG
$17.4B
| $5.78M | 0.3% |
103,716
+82,330
| +385% | +$4.55M |
|
72
MBIA
MBI
$250M
| $5.72M | 0.3% |
518,523
+335,407
| +183% | +$4.13M |
|
73
CALL
Alcoa
AA
$13.7B
| $5.56M | 0.29% |
155,389
-52,684
| -25% | -$1.73M |
|
|
JHP
74
DELISTED
NUVEEN QUALITY PREFERRED INCOME FUND 3
JHP
| $5.47M | 0.29% |
630,021
+37,802
| +6% | +$322K |
|
|
SBW
75
DELISTED
Western Asset Worldwide Income
SBW
| $5.42M | 0.28% |
412,188
+17,908
| +5% | +$229K |
|
Similar funds
Boaz Weinstein's Q2 2014 Portfolio in Review
As of Q2 2014, Boaz Weinstein held 245 positions worth $1.91B, up 7.6% from $1.77B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Boaz Weinstein deployed $105M of net new capital in Q2 2014, opening 38 new positions and adding to 63 existing holdings. Its largest new stake was Vanguard Total Bond Market: 1,140,580 shares worth $93.8M.
By sector, the portfolio is most concentrated in Financials at 8.2% of assets, down from 8.6% a quarter earlier, followed by Consumer Discretionary and Energy.
On the sell side, the largest reduction was PIMCO Dynamic Credit and Mortgage Income Fund, an estimated $31.6M trimmed.
- Boaz Weinstein's largest Q2 2014 buy was Vanguard Total Bond Market: 1,140,580 shares worth $93.8M.
- Boaz Weinstein added most to iShares Core US Aggregate Bond ETF in Q2 2014, an estimated $68.2M increase.
- Boaz Weinstein's biggest Q2 2014 reduction was PIMCO Dynamic Credit and Mortgage Income Fund, cutting an estimated $31.6M.
- Boaz Weinstein fully exited Vanguard Short-Term Corporate Bond ETF in Q2 2014, selling an estimated $34.1M.
- Boaz Weinstein's ten largest holdings make up 37% of its $1.91B portfolio in Q2 2014.
- Boaz Weinstein opened 38 new positions and closed 48 in Q2 2014.
- Boaz Weinstein's portfolio value rose 7.6% quarter-over-quarter to $1.91B.
Based on Saba Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.