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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
-3.37%
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
$1.25B
AUM Growth
-$521M
Cap. Flow
-$435M
Cap. Flow %
-34.86%
Top 10 Hldgs %
36.8%
Holding
204
New
20
Increased
21
Reduced
99
Closed
56

Top Buys

Rank Stock Value
1
BND icon
Vanguard Total Bond Market
BND
+$17.3M
2
CNX icon
CNX Resources
CNX
+$5.94M
3
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$4.62M
4
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$4.11M
5
IGLB icon
iShares 10+ Year Investment Grade Corporate Bond ETF
IGLB
+$2.71M

Top Sells

Rank Stock Value
1
IGSB icon
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
+$24.1M
2
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$16.2M
3
VCLT icon
Vanguard Long-Term Corporate Bond ETF
VCLT
+$15.3M
4
BTU
PEABODY ENERGY CORP COM STK NEW (DE)
BTU
+$14.2M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$13.9M

Sector Composition

Rank Sector Weight
1 Financials 6.26%
2 Industrials 2.95%
3 Energy 2.17%
4 Materials 1.74%
5 Consumer Discretionary 1.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYT icon
1
BlackRock Corporate High Yield Fund
HYT
$1.34B
$79.6M 6.38%
6,979,323
-630,219
-8% -$7.29M
RIG icon
2
PUT
Transocean
RIG
$6.61B
$71.5M 5.73%
+3,898,300
New +$97.4M
DSU icon
3
BlackRock Debt Strategies Fund
DSU
$592M
$58.9M 4.72%
5,273,379
-248,835
-5% -$2.8M
PCI
4
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
$46.6M 3.74%
2,256,284
-222,659
-9% -$4.85M
BTZ icon
5
BlackRock Credit Allocation Income Trust
BTZ
$947M
$40.9M 3.28%
3,163,682
-570,939
-15% -$7.63M
EDD
6
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$385M
$36.6M 2.93%
3,465,097
+14,007
+0.4% +$158K
BIT icon
7
BlackRock Multi-Sector Income Trust
BIT
$681M
$33.6M 2.7%
2,005,559
-398,890
-17% -$6.96M
PPT
8
Franklin Premier Income Trust
PPT
$329M
$30.9M 2.48%
5,880,265
-719,642
-11% -$3.87M
EAD
9
Allspring Income Opportunities Fund
EAD
$375M
$30.2M 2.42%
3,397,049
-206,200
-6% -$1.84M
MBI icon
10
PUT
MBIA
MBI
$250M
$30.2M 2.42%
3,163,400
-2,011,600
-39% -$19.4M
BGB
11
Blackstone Strategic Credit 2027 Term Fund
BGB
$504M
$28.4M 2.28%
1,723,585
+85,995
+5% +$1.4M
FAX
12
abrdn Asia-Pacific Income Fund
FAX
$610M
$27.9M 2.24%
838,058
-291,080
-26% -$10M
BPOP icon
13
PUT
Popular Inc
BPOP
$10.8B
$27.7M 2.22%
812,300
-911,200
-53% -$28.6M
JCP
14
PUT
DELISTED
J.C. Penney Company, Inc.
JCP
$26.1M 2.09%
4,020,200
– –
HYI
15
Western Asset High Yield Opportunity Fund Inc
HYI
$134M
$25.9M 2.07%
1,639,390
-19,366
-1% -$315K
CNX icon
16
PUT
CNX Resources
CNX
$5.38B
$23M 1.85%
+817,200
New +$24.8M
ERC
17
Allspring Multi-Sector Income Fund
ERC
$261M
$22.4M 1.8%
1,643,375
-61,968
-4% -$859K
MHY
18
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$22M 1.77%
4,314,910
-117,000
-3% -$624K
JLS icon
19
Nuveen Mortgage and Income Fund
JLS
$92.3M
$20.6M 1.66%
891,750
-40,900
-4% -$955K
EMD
20
DELISTED
Western Asset Emerging Markets
EMD
$18M 1.45%
1,648,089
-86,651
-5% -$1.01M
GHI
21
DELISTED
GLOBAL HIGH INCOME FUND INC.
GHI
$17.5M 1.41%
1,987,215
-5,744
-0.3% -$53.6K
BND icon
22
Vanguard Total Bond Market
BND
$161B
$17.2M 1.38%
+209,205
New +$17.3M
SHLD
23
PUT
DELISTED
Sears Holding Corporation
SHLD
$16.9M 1.36%
513,800
-23,685
-4% -$777K
HIO
24
Western Asset High Income Opportunity Fund
HIO
$335M
$16.5M 1.32%
3,072,438
-726,337
-19% -$4.06M
MMT
25
Aberdeen Multi-Market Income Fund
MMT
$243M
$16.2M 1.3%
2,490,689
-683,439
-22% -$4.32M
1
2 3 4 5

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Boaz Weinstein's Q4 2014 Portfolio in Review

As of Q4 2014, Boaz Weinstein held 204 positions worth $1.25B, down 29% from $1.77B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Boaz Weinstein withdrew a net $435M in Q4 2014, closing 56 positions and reducing 99 holdings. Its most notable exit was iShares 1-5 Year Investment Grade Corporate Bond ETF, an estimated $24.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.3% of assets, down from 8.2% a quarter earlier, followed by Industrials and Energy.

Against the trend, Boaz Weinstein opened a new position in Vanguard Total Bond Market worth $17.2M.

  • Boaz Weinstein's largest Q4 2014 buy was Vanguard Total Bond Market: 209,205 shares worth $17.2M.
  • Boaz Weinstein added most to iShares iBoxx $ Investment Grade Corporate Bond ETF in Q4 2014, an estimated $4.62M increase.
  • Boaz Weinstein's biggest Q4 2014 reduction was PEABODY ENERGY CORP COM STK NEW (DE), cutting an estimated $14.2M.
  • Boaz Weinstein fully exited iShares 1-5 Year Investment Grade Corporate Bond ETF in Q4 2014, selling an estimated $24.1M.
  • Boaz Weinstein's ten largest holdings make up 37% of its $1.25B portfolio in Q4 2014.
  • Boaz Weinstein opened 20 new positions and closed 56 in Q4 2014.
  • Boaz Weinstein's portfolio value fell 29% quarter-over-quarter to $1.25B.

Based on Saba Capital Management's 13F filing for Q4 2014, filed 17 Feb 2015.