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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
+1.41%
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
$1.2B
AUM Growth
+$392M
Cap. Flow
+$352M
Cap. Flow %
29.23%
Top 10 Hldgs %
38.81%
Holding
190
New
102
Increased
22
Reduced
19
Closed
29

Top Buys

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$116M
2
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
+$42.3M
3
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$23.1M
4
PDI icon
PIMCO Dynamic Income Fund
PDI
+$16.2M
5
DSL
DoubleLine Income Solutions Fund
DSL
+$15.9M

Top Sells

Rank Stock Value
1
GNW icon
Genworth Financial
GNW
+$15M
2
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$12.3M
3
AAPL icon
Apple
AAPL
+$12.1M
4
RAD
Rite Aid Corporation
RAD
+$12M
5
WFT
Weatherford International plc
WFT
+$7.65M

Sector Composition

Rank Sector Weight
1 Financials 6.63%
2 Energy 6.57%
3 Consumer Discretionary 6.16%
4 Technology 2.2%
5 Healthcare 1.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PBI icon
176
CALL
Pitney Bowes
PBI
$2.26B
– –
-3,036,500
Closed -$44.6M
PCY icon
177
Invesco Emerging Markets Sovereign Debt ETF
PCY
$1.38B
– –
-34,345
Closed -$938K
SJNK icon
178
State Street SPDR Bloomberg Short Term High Yield Bond ETF
SJNK
$4.78B
– –
-6,600
Closed -$199K
SNV
179
DELISTED
Synovus
SNV
– –
-129,831
Closed -$2.65M
VCSH icon
180
Vanguard Short-Term Corporate Bond ETF
VCSH
$45B
– –
-10,278
Closed -$813K
RAD
181
DELISTED
Rite Aid Corporation
RAD
– –
-209,197
Closed -$12M
AKS
182
DELISTED
AK Steel Holding Corp
AKS
– –
-140,697
Closed -$428K
MNI
183
DELISTED
The McClatchy Company Class A Common Stock
MNI
– –
-25,618
Closed -$584K
RSH
184
DELISTED
RADIOSHACK CORP
RSH
– –
-1,109,343
Closed -$3.51M
SWY
185
DELISTED
SAFEWAY INC
SWY
– –
-95,374
Closed -$2.02M
TC.PRT
186
DELISTED
THOMPSON CREEK METALS COMPANY INC. COMMON SHARES(CANADA)TANG
TC.PRT
– –
-50,000
Closed -$816K
LEAP
187
DELISTED
LEAP WIRELESS INTERNATIONAL INC NEW
LEAP
– –
-60,388
Closed -$406K
LXK
188
DELISTED
Lexmark Intl Inc
LXK
– –
-4,100
Closed -$145K
TWC
189
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
– –
-497,800
Closed -$56M
DNY
190
CALL
DELISTED
DONNELLEY R R & SONS CO
DNY
– –
-254,900
Closed -$3.57M
4 5 6 7
8

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Boaz Weinstein's Q3 2013 Portfolio in Review

As of Q3 2013, Boaz Weinstein held 190 positions worth $1.2B, up 48% from $811M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Boaz Weinstein deployed $352M of net new capital in Q3 2013, opening 102 new positions and adding to 22 existing holdings. Its largest new stake was iShares iBoxx $ High Yield Corporate Bond ETF: 1,262,946 shares worth $116M.

By sector, the portfolio is most concentrated in Financials at 6.6% of assets, up from 2.3% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was TIME WARNER CABLE INC NEW COM STK, an estimated $12.3M trimmed.

  • Boaz Weinstein's largest Q3 2013 buy was iShares iBoxx $ High Yield Corporate Bond ETF: 1,262,946 shares worth $116M.
  • Boaz Weinstein added most to State Street SPDR Bloomberg High Yield Bond ETF in Q3 2013, an estimated $23.1M increase.
  • Boaz Weinstein's biggest Q3 2013 reduction was TIME WARNER CABLE INC NEW COM STK, cutting an estimated $12.3M.
  • Boaz Weinstein fully exited Genworth Financial in Q3 2013, selling an estimated $15M.
  • Boaz Weinstein's ten largest holdings make up 39% of its $1.2B portfolio in Q3 2013.
  • Boaz Weinstein opened 102 new positions and closed 29 in Q3 2013.
  • Boaz Weinstein's portfolio value rose 48% quarter-over-quarter to $1.2B.

Based on Saba Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.