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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
+0.31%
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
$2.15B
AUM Growth
-$192M
Cap. Flow
-$82.3M
Cap. Flow %
-3.82%
Top 10 Hldgs %
51.04%
Holding
120
New
10
Increased
30
Reduced
37
Closed
26

Top Buys

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$13.1M
2
EFT
Eaton Vance Floating-Rate Income Trust
EFT
+$12.8M
3
EVV
Eaton Vance Limited Duration Income Fund
EVV
+$12M
4
MHN
BlackRock MuniHoldings New Yrok Quality Fund
MHN
+$9.62M
5
EFF
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
+$9.33M

Top Sells

Rank Stock Value
1
JQC icon
Nuveen Credit Strategies Income Fund
JQC
+$46.5M
2
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$11.9M
3
NTC
Nuveen Connecticut Quality Municipal Income Fund
NTC
+$5.44M
4
ISD
PGIM High Yield Bond Fund
ISD
+$5.24M
5
IVH
Delaware Ivy High Income Opportunities Fund
IVH
+$5.14M

Sector Composition

Rank Sector Weight
1 Healthcare 0.97%
2 Energy 0.23%
3 Real Estate 0.07%
4 Consumer Staples 0.07%
5 Technology 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NAZ icon
76
Nuveen Arizona Quality Municipal Income Fund
NAZ
$158M
$1.73M 0.08%
128,744
-59,291
-32% -$793K
DO
77
PUT
DELISTED
Diamond Offshore Drilling
DO
$1.72M 0.08%
+310,000
New +$2.27M
NBW
78
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
$1.59M 0.07%
113,714
-70,958
-38% -$986K
HOUS
79
DELISTED
Anywhere Real Estate
HOUS
$1.51M 0.07%
225,742
+96,973
+75% +$560K
SDRL
80
DELISTED
Seadrill Limited Common Stock
SDRL
$1.39M 0.06%
661,204
– –
UBER icon
81
Uber
UBER
$161B
$1.27M 0.06%
+41,800
New +$1.57M
RRD
82
DELISTED
RR Donnelley & Sons Co.
RRD
$1.2M 0.06%
318,798
-1,830,920
-85% -$4.35M
YPF icon
83
YPF Sociedad Anonima ADS
YPF
$20.1B
$1.09M 0.05%
118,197
+100,699
+575% +$1.3M
AIF
84
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$911K 0.04%
60,106
-24,067
-29% -$358K
EFR
85
Eaton Vance Senior Floating-Rate Fund
EFR
$314M
$766K 0.04%
58,731
– –
SDI
86
DELISTED
Standard Diversified Inc. Class A Common Stock
SDI
$714K 0.03%
64,282
– –
UNFI icon
87
United Natural Foods
UNFI
$2.91B
$519K 0.02%
45,018
-34,982
-44% -$334K
TWNKW
88
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
$347K 0.02%
202,693
– –
TEVA icon
89
Teva Pharmaceuticals
TEVA
$43.5B
$276K 0.01%
+40,187
New +$308K
BCV
90
Bancroft Fund
BCV
$140M
$229K 0.01%
9,706
-7,673
-44% -$181K
EGIF
91
DELISTED
Eagle Growth and Income Opportunities Fund
EGIF
$204K 0.01%
+12,792
New +$199K
DF
92
DELISTED
Dean Foods Company
DF
$194K 0.01%
167,380
-43,940
-21% -$52.1K
NJV
93
DELISTED
Nuveen New Jersey Municipal Value Fund Common shares of beneficial interest
NJV
$163K 0.01%
11,908
+1,465
+14% +$20K
FT
94
Franklin Universal Trust
FT
$197M
$76K ﹤0.01%
10,058
– –
AFB
95
AllianceBernstein National Municipal Income Fund
AFB
$314M
– –
-36,178
Closed -$487K
CEV
96
Eaton Vance California Municipal Income Trust
CEV
$75.2M
– –
-351,419
Closed -$4.35M
CXH
97
DELISTED
MFS Investment Grade Municipal Trust
CXH
– –
-12,906
Closed -$124K
CYH icon
98
CALL
Community Health Systems
CYH
$424M
– –
-2,038,200
Closed -$5.44M
DB icon
99
Deutsche Bank
DB
$71.1B
– –
-102,090
Closed -$779K
DB icon
100
PUT
Deutsche Bank
DB
$71.1B
– –
-750,000
Closed -$5.72M
1 2 3
4
5

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Boaz Weinstein's Q3 2019 Portfolio in Review

As of Q3 2019, Boaz Weinstein held 120 positions worth $2.15B, down 8.2% from $2.35B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Boaz Weinstein withdrew a net $82.3M in Q3 2019, closing 26 positions and reducing 37 holdings. Its most notable exit was VanEck Oil Services ETF, an estimated $5.12M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 0.97% of assets, up from 0.68% a quarter earlier, followed by Energy and Real Estate.

Against the trend, Boaz Weinstein opened a new position in Peabody Energy worth $2.58M.

  • Boaz Weinstein's largest Q3 2019 buy was Peabody Energy: 175,000 shares worth $2.58M.
  • Boaz Weinstein added most to Saba Capital Income & Opportunities Fund in Q3 2019, an estimated $13.1M increase.
  • Boaz Weinstein's biggest Q3 2019 reduction was Nuveen Credit Strategies Income Fund, cutting an estimated $46.5M.
  • Boaz Weinstein fully exited VanEck Oil Services ETF in Q3 2019, selling an estimated $5.12M.
  • Boaz Weinstein's ten largest holdings make up 51% of its $2.15B portfolio in Q3 2019.
  • Boaz Weinstein opened 10 new positions and closed 26 in Q3 2019.
  • Boaz Weinstein's portfolio value fell 8.2% quarter-over-quarter to $2.15B.

Based on Saba Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.