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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
-0.45%
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
$958M
AUM Growth
-$289M
Cap. Flow
-$277M
Cap. Flow %
-28.95%
Top 10 Hldgs %
40.35%
Holding
171
New
24
Increased
6
Reduced
93
Closed
39

Top Buys

Rank Stock Value
1
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$48.1M
2
BND icon
Vanguard Total Bond Market
BND
+$12.9M
3
DHG
Deutsche High Incm Opportunities
DHG
+$4.41M
4
SJNK icon
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
+$3.95M
5
OIBR
OI S A SPONSORED ADR REPSTG PFD NEW (BRA)
OIBR
+$3.51M

Top Sells

Rank Stock Value
1
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
+$22.8M
2
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$17.6M
3
FAX
abrdn Asia-Pacific Income Fund
FAX
+$12.7M
4
BIT icon
BlackRock Multi-Sector Income Trust
BIT
+$10.1M
5
HYT icon
BlackRock Corporate High Yield Fund
HYT
+$9.55M

Sector Composition

Rank Sector Weight
1 Financials 6.66%
2 Industrials 1.66%
3 Energy 1.63%
4 Real Estate 1.14%
5 Materials 0.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VMBS icon
151
Vanguard Mortgage-Backed Securities ETF
VMBS
$15.6B
– –
-36,709
Closed -$1.95M
WERN icon
152
Werner Enterprises
WERN
$2.33B
– –
-68,171
Closed -$2.12M
WEN icon
153
Wendy's
WEN
$1.72B
– –
-345,464
Closed -$3.12M
MDC
154
DELISTED
M.D.C. Holdings, Inc.
MDC
– –
-48,020
Closed -$915K
AKS
155
DELISTED
AK Steel Holding Corp
AKS
– –
-744,370
Closed -$4.42M
MNI
156
DELISTED
The McClatchy Company Class A Common Stock
MNI
– –
-35,361
Closed -$1.17M
AVP
157
PUT
DELISTED
Avon Products, Inc.
AVP
– –
-20,100
Closed -$189K
ASNA
158
DELISTED
Ascena Retail Group, Inc.
ASNA
– –
-6,075
Closed -$1.53M
JMT
159
DELISTED
Nuveen Mortgage Opportunity Term Fund 2
JMT
– –
-31,545
Closed -$731K
RDC
160
DELISTED
Rowan Companies Plc
RDC
– –
-113,684
Closed -$2.65M
ANW
161
DELISTED
Aegean Marine Petroleum Network
ANW
– –
-114,399
Closed -$1.6M
PRXL
162
DELISTED
Parexel International Corp
PRXL
– –
-29,178
Closed -$1.62M
ACAT
163
DELISTED
Arctic Cat Inc
ACAT
– –
-41,269
Closed -$1.47M
BTU
164
DELISTED
PEABODY ENERGY CORP COM STK NEW (DE)
BTU
– –
-18,870
Closed -$2.19M
BTU
165
PUT
DELISTED
PEABODY ENERGY CORP COM STK NEW (DE)
BTU
– –
-20,100
Closed -$2.33M
OWW
166
DELISTED
ORBITZ WORLDWIDE, INC
OWW
– –
-205,011
Closed -$1.69M
RKT
167
DELISTED
ROCK-TENN COMPANY CL-A
RKT
– –
-45,846
Closed -$2.8M
BIOA.WS
168
DELISTED
BioAmber Inc.
BIOA.WS
– –
-64,326
Closed -$102K
VXX
169
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
– –
-28,394
Closed -$14.3M
3 4 5 6
7

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Boaz Weinstein's Q1 2015 Portfolio in Review

As of Q1 2015, Boaz Weinstein held 171 positions worth $958M, down 23% from $1.25B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

Boaz Weinstein withdrew a net $277M in Q1 2015, closing 39 positions and reducing 93 holdings. Its most notable exit was Quest Diagnostics, an estimated $6.39M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.7% of assets, up from 6.3% a quarter earlier, followed by Industrials and Energy.

Against the trend, Boaz Weinstein opened a new position in iShares Core US Aggregate Bond ETF worth $48.2M.

  • Boaz Weinstein's largest Q1 2015 buy was iShares Core US Aggregate Bond ETF: 432,751 shares worth $48.2M.
  • Boaz Weinstein added most to Vanguard Total Bond Market in Q1 2015, an estimated $12.9M increase.
  • Boaz Weinstein's biggest Q1 2015 reduction was PIMCO Dynamic Credit and Mortgage Income Fund, cutting an estimated $22.8M.
  • Boaz Weinstein fully exited Quest Diagnostics in Q1 2015, selling an estimated $6.39M.
  • Boaz Weinstein's ten largest holdings make up 40% of its $958M portfolio in Q1 2015.
  • Boaz Weinstein opened 24 new positions and closed 39 in Q1 2015.
  • Boaz Weinstein's portfolio value fell 23% quarter-over-quarter to $958M.

Based on Saba Capital Management's 13F filing for Q1 2015, filed 15 May 2015.