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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
HYT icon
1
BlackRock Corporate High Yield Fund
HYT
$1.34B
$68.5M 7.15%
6,134,042
-845,281
-12% -$9.55M
ENB icon
2
PUT
Enbridge
ENB
$110B
$50.9M 5.32%
+1,050,000
New +$50.5M
DSU icon
3
BlackRock Debt Strategies Fund
DSU
$592M
$49.9M 5.21%
4,456,063
-817,316
-15% -$9.12M
AGG icon
4
iShares Core US Aggregate Bond ETF
AGG
$138B
$48.2M 5.04%
+432,751
New +$48.1M
RIG icon
5
PUT
Transocean
RIG
$6.61B
$40.4M 4.22%
2,754,700
-1,143,600
-29% -$18.5M
BND icon
6
Vanguard Total Bond Market
BND
$161B
$30.3M 3.17%
363,772
+154,567
+74% +$12.9M
BTZ icon
7
BlackRock Credit Allocation Income Trust
BTZ
$947M
$24.9M 2.6%
1,852,719
-1,310,963
-41% -$17.6M
BIT icon
8
BlackRock Multi-Sector Income Trust
BIT
$681M
$24.9M 2.6%
1,423,156
-582,403
-29% -$10.1M
EDD
9
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$385M
$24.4M 2.55%
2,638,762
-826,335
-24% -$8.36M
BGB
10
Blackstone Strategic Credit 2027 Term Fund
BGB
$504M
$24M 2.5%
1,481,975
-241,610
-14% -$3.9M
PPT
11
Franklin Premier Income Trust
PPT
$329M
$23.8M 2.49%
4,515,630
-1,364,635
-23% -$7.15M
PCI
12
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
$23.4M 2.44%
1,143,816
-1,112,468
-49% -$22.8M
EAD
13
Allspring Income Opportunities Fund
EAD
$375M
$22.6M 2.36%
2,567,465
-829,584
-24% -$7.35M
HYI
14
Western Asset High Yield Opportunity Fund Inc
HYI
$134M
$21.6M 2.25%
1,319,575
-319,815
-20% -$5.1M
MHY
15
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$20.2M 2.11%
3,916,198
-398,712
-9% -$2.06M
ERC
16
Allspring Multi-Sector Income Fund
ERC
$261M
$19.1M 1.99%
1,428,698
-214,677
-13% -$2.91M
JLS icon
17
Nuveen Mortgage and Income Fund
JLS
$92.3M
$17M 1.77%
728,895
-162,855
-18% -$3.8M
GHI
18
DELISTED
GLOBAL HIGH INCOME FUND INC.
GHI
$16.5M 1.72%
1,883,734
-103,481
-5% -$906K
EMD
19
DELISTED
Western Asset Emerging Markets
EMD
$15.7M 1.64%
1,409,950
-238,139
-14% -$2.64M
DHG
20
DELISTED
Deutsche High Incm Opportunities
DHG
$15M 1.57%
1,045,218
+312,215
+43% +$4.41M
FAX
21
abrdn Asia-Pacific Income Fund
FAX
$610M
$14.7M 1.53%
454,471
-383,587
-46% -$12.7M
CNX icon
22
PUT
CNX Resources
CNX
$5.38B
$13.6M 1.42%
583,440
-233,760
-29% -$5.96M
X
23
PUT
DELISTED
US Steel
X
$13.5M 1.41%
+554,700
New +$13.2M
FTF
24
Franklin Limited Duration Income Trust
FTF
$234M
$13.5M 1.41%
1,111,738
-126,075
-10% -$1.53M
KHI
25
DELISTED
Deutsche High Income Trust
KHI
$12.9M 1.35%
1,457,187
+128,675
+10% +$1.15M
1
2 3 4 5

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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.