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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
-0.58%
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
$1.05B
AUM Growth
-$227M
Cap. Flow
-$168M
Cap. Flow %
-16%
Top 10 Hldgs %
43.29%
Holding
121
New
16
Increased
31
Reduced
34
Closed
22

Top Buys

Rank Stock Value
1
RSX
VanEck Russia ETF
RSX
+$19.9M
2
ERC
Allspring Multi-Sector Income Fund
ERC
+$16M
3
EVG
Eaton Vance Short Duration Diversified Income Fund
EVG
+$13M
4
FTF
Franklin Limited Duration Income Trust
FTF
+$12.2M
5
APC
Anadarko Petroleum
APC
+$5.02M

Top Sells

Rank Stock Value
1
HYT icon
BlackRock Corporate High Yield Fund
HYT
+$12.6M
2
JLS icon
Nuveen Mortgage and Income Fund
JLS
+$6.79M
3
VRE
Veris Residential
VRE
+$4.92M
4
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$4.45M
5
JHP
NUVEEN QUALITY PREFERRED INCOME FUND 3
JHP
+$3.91M

Sector Composition

Rank Sector Weight
1 Financials 4.52%
2 Energy 0.96%
3 Communication Services 0.56%
4 Consumer Discretionary 0.44%
5 Real Estate 0.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVV
101
Eaton Vance Limited Duration Income Fund
EVV
$1.05B
– –
-11,548
Closed -$146K
GM icon
102
CALL
General Motors
GM
$77.2B
– –
-1,000,000
Closed -$30M
IGLB icon
103
iShares 10+ Year Investment Grade Corporate Bond ETF
IGLB
$2.77B
– –
-39,817
Closed -$2.27M
ISD
104
PGIM High Yield Bond Fund
ISD
$409M
– –
-26,000
Closed -$381K
JLS icon
105
Nuveen Mortgage and Income Fund
JLS
$92.3M
– –
-303,289
Closed -$6.79M
KBH icon
106
PUT
KB Home
KBH
$3.39B
– –
-1,879,100
Closed -$25.5M
LUMN icon
107
CALL
Lumen
LUMN
$6.13B
– –
-619,000
Closed -$15.5M
MBI icon
108
MBIA
MBI
$250M
– –
-22,408
Closed -$136K
MBI icon
109
PUT
MBIA
MBI
$250M
– –
-48,200
Closed -$293K
MUR icon
110
Murphy Oil
MUR
$5.36B
– –
-60,833
Closed -$1.47M
MUR icon
111
PUT
Murphy Oil
MUR
$5.36B
– –
-300,300
Closed -$7.27M
SJNK icon
112
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
$4.78B
– –
-11,237
Closed -$303K
TECK icon
113
Teck Resources
TECK
$33.9B
– –
-59,500
Closed -$286K
TLT icon
114
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$45.5B
– –
-1,000,000
Closed -$124M
VRE
115
DELISTED
Veris Residential
VRE
– –
-260,320
Closed -$4.92M
X
116
DELISTED
US Steel
X
– –
-169,317
Closed -$1.66M
JCP
117
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
– –
-1,414,700
Closed -$13.1M
WFT
118
DELISTED
Weatherford International plc
WFT
– –
-201,217
Closed -$1.71M
WFT
119
PUT
DELISTED
Weatherford International plc
WFT
– –
-2,719,800
Closed -$23.1M
RDC
120
DELISTED
Rowan Companies Plc
RDC
– –
-69,000
Closed -$1.32M
OIBR
121
DELISTED
OI S A SPONSORED ADR REPSTG PFD NEW (BRA)
OIBR
– –
-2,326,689
Closed -$1.57M
1 2 3 4
5

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Boaz Weinstein's Q4 2015 Portfolio in Review

As of Q4 2015, Boaz Weinstein held 121 positions worth $1.05B, down 18% from $1.28B the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Boaz Weinstein withdrew a net $168M in Q4 2015, closing 22 positions and reducing 34 holdings. Its most notable exit was Nuveen Mortgage and Income Fund, an estimated $6.79M position sold in full.

By sector, the portfolio is most concentrated in Financials at 4.5% of assets, up from 4% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Boaz Weinstein opened a new position in VanEck Russia ETF worth $17.8M.

  • Boaz Weinstein's largest Q4 2015 buy was VanEck Russia ETF: 1,215,200 shares worth $17.8M.
  • Boaz Weinstein added most to Allspring Multi-Sector Income Fund in Q4 2015, an estimated $16M increase.
  • Boaz Weinstein's biggest Q4 2015 reduction was BlackRock Corporate High Yield Fund, cutting an estimated $12.6M.
  • Boaz Weinstein fully exited Nuveen Mortgage and Income Fund in Q4 2015, selling an estimated $6.79M.
  • Boaz Weinstein's ten largest holdings make up 43% of its $1.05B portfolio in Q4 2015.
  • Boaz Weinstein opened 16 new positions and closed 22 in Q4 2015.
  • Boaz Weinstein's portfolio value fell 18% quarter-over-quarter to $1.05B.

Based on Saba Capital Management's 13F filing for Q4 2015, filed 16 Feb 2016.