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 |
BRW
Saba Capital Income & Opportunities Fund
BRW
|
+$46.5M |
| 2 |
BWG
BrandywineGLOBAL Global Income Opportunities Fund
BWG
|
+$5.79M |
| 3 |
NSL
NUVEEN SENIOR INCM FD
NSL
|
+$5.69M |
| 4 |
EFF
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
|
+$5.3M |
| 5 |
PHD
Pioneer Floating Rate Fund
PHD
|
+$4.47M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BlackRock Credit Allocation Income Trust
BTZ
|
+$55.1M |
| 2 |
Nuveen Credit Strategies Income Fund
JQC
|
+$36.8M |
| 3 |
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
|
+$36.1M |
| 4 |
Invesco Senior Income Trust
VVR
|
+$31.8M |
| 5 |
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
|
+$19.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 0.55% |
| 2 | Energy | 0.18% |
| 3 | Industrials | 0.15% |
| 4 | Consumer Staples | 0.06% |
| 5 | Real Estate | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
PUT
Teva Pharmaceuticals
TEVA
$43.5B
| – | – |
-1,775,900
| Closed | -$12.2M |
|
102
Uber
UBER
$161B
| – | – |
-41,800
| Closed | -$1.24M |
|
|
FAM
103
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
| – | – |
-278,391
| Closed | -$2.94M |
|
|
NNC
104
DELISTED
Nuveen North Carolina Quality Municipal Income Fund
NNC
| – | – |
-327,536
| Closed | -$4.42M |
|
|
NTC
105
DELISTED
Nuveen Connecticut Quality Municipal Income Fund
NTC
| – | – |
-753,483
| Closed | -$10.1M |
|
|
DF
106
DELISTED
Dean Foods Company
DF
| – | – |
-167,380
| Closed | -$194K |
|
Similar funds
Boaz Weinstein's Q4 2019 Portfolio in Review
As of Q4 2019, Boaz Weinstein held 106 positions worth $2.11B, down 2.2% from $2.15B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Boaz Weinstein withdrew a net $144M in Q4 2019, closing 15 positions and reducing 39 holdings. Its most notable exit was DTF Tax-Free Income 2028 Term Fund, an estimated $12.1M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 0.55% of assets, down from 0.97% a quarter earlier, followed by Energy and Industrials.
Against the trend, Boaz Weinstein opened a new position in NUVEEN SENIOR INCM FD worth $5.92M.
- Boaz Weinstein's largest Q4 2019 buy was NUVEEN SENIOR INCM FD: 993,958 shares worth $5.92M.
- Boaz Weinstein added most to Saba Capital Income & Opportunities Fund in Q4 2019, an estimated $46.5M increase.
- Boaz Weinstein's biggest Q4 2019 reduction was BlackRock Credit Allocation Income Trust, cutting an estimated $55.1M.
- Boaz Weinstein fully exited DTF Tax-Free Income 2028 Term Fund in Q4 2019, selling an estimated $12.1M.
- Boaz Weinstein's ten largest holdings make up 54% of its $2.11B portfolio in Q4 2019.
- Boaz Weinstein opened 12 new positions and closed 15 in Q4 2019.
- Boaz Weinstein's portfolio value fell 2.2% quarter-over-quarter to $2.11B.
Based on Saba Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.