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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
+8.29%
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
$3.66B
AUM Growth
-$599M
Cap. Flow
-$853M
Cap. Flow %
-23.31%
Top 10 Hldgs %
44.39%
Holding
376
New
53
Increased
42
Reduced
87
Closed
47

Top Buys

Rank Stock Value
1
ASA
ASA Gold and Precious Metals
ASA
+$50.9M
2
RVT icon
Royce Value Trust
RVT
+$22.1M
3
TY icon
TRI-Continental Corp
TY
+$17M
4
WENN
Wen Acquisition Corp
WENN
+$15.9M
5
GAM
General American Investors Company
GAM
+$14.1M

Top Sells

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$445M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$101M
3
MHI
Pioneer Municipal High Income Fund
MHI
+$38.5M
4
ADX icon
Adams Diversified Equity Fund
ADX
+$33.4M
5
MAV
Pioneer Municipal High Income Advantage Fund
MAV
+$33.3M

Sector Composition

Rank Sector Weight
1 Financials 4.4%
2 Technology 2.69%
3 Communication Services 2.13%
4 Consumer Discretionary 1.37%
5 Industrials 1.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ECAT icon
1
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.52B
$456M 12.47%
27,800,724
-804,317
-3% -$13.2M
ASA
2
ASA Gold and Precious Metals
ASA
$1.19B
$213M 5.83%
4,656,677
+1,402,840
+43% +$50.9M
PDX
3
PIMCO Dynamic Income Strategy Fund
PDX
$970M
$187M 5.11%
7,489,207
-38,690
-0.5% -$951K
GDV icon
4
Gabelli Dividend & Income Trust
GDV
$2.66B
$166M 4.54%
6,114,312
-653,837
-10% -$17.4M
GAM
5
General American Investors Company
GAM
$1.61B
$127M 3.47%
2,041,561
+238,916
+13% +$14.1M
NBXG
6
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.19B
$119M 3.25%
7,721,404
+58,025
+0.8% +$860K
NFJ
7
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.45B
$97.7M 2.67%
7,507,958
-175,500
-2% -$2.24M
MEGI
8
MainStay CBRE Global Infrastructure Megatrends Term Fund
MEGI
$784M
$91.9M 2.51%
6,259,969
– –
BA icon
9
PUT
Boeing
BA
$169B
$84.3M 2.3%
390,500
+92,200
+31% +$20.8M
BSTZ icon
10
BlackRock Science and Technology Term Trust
BSTZ
$2.1B
$81.9M 2.24%
3,693,995
-433,745
-11% -$9.32M
AMD icon
11
PUT
Advanced Micro Devices
AMD
$773B
$78.1M 2.14%
483,000
-32,700
-6% -$5.28M
NVDA icon
12
PUT
NVIDIA
NVDA
$5.2T
$70.4M 1.92%
377,100
+194,100
+106% +$33.8M
WDC icon
13
PUT
Western Digital
WDC
$166B
$67.1M 1.84%
559,000
+8,200
+1% +$670K
PEO
14
Adams Natural Resources Fund
PEO
$803M
$57.8M 1.58%
2,687,324
-190,015
-7% -$4.1M
NQP
15
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$56.6M 1.55%
4,718,866
-340,107
-7% -$3.78M
MSFT icon
16
PUT
Microsoft
MSFT
$3.59T
$54.8M 1.5%
105,800
-100,000
-49% -$51M
AMAT icon
17
PUT
Applied Materials
AMAT
$391B
$44.3M 1.21%
216,200
-115,900
-35% -$21M
EVM
18
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$43.1M 1.18%
4,544,380
– –
HQL
19
abrdn Life Sciences Investors
HQL
$681M
$40.1M 1.1%
2,586,652
-430,887
-14% -$5.9M
ENX
20
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$38.4M 1.05%
3,898,946
– –
UBER icon
21
PUT
Uber
UBER
$161B
$37.5M 1.03%
383,100
-300,000
-44% -$28.1M
QCOM icon
22
PUT
Qualcomm
QCOM
$169B
$36.8M 1.01%
+221,000
New +$35.1M
LEO
23
BNY Mellon Strategic Municipals
LEO
$384M
$35.6M 0.97%
5,698,819
+117,267
+2% +$699K
AFB
24
AllianceBernstein National Municipal Income Fund
AFB
$314M
$33.4M 0.91%
3,081,299
-67,721
-2% -$704K
XOM icon
25
PUT
ExxonMobil
XOM
$679B
$33.3M 0.91%
295,300
-250,000
-46% -$27.8M
1
2 3 4 5

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NAM
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FFGIM
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Boaz Weinstein's Q3 2025 Portfolio in Review

As of Q3 2025, Boaz Weinstein held 376 positions worth $3.66B, down 14% from $4.26B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Boaz Weinstein withdrew a net $853M in Q3 2025, closing 47 positions and reducing 87 holdings. Its most notable exit was BlackRock Technology and Private Equity Term Trust, an estimated $445M position sold in full.

By sector, the portfolio is most concentrated in Financials at 4.4% of assets, up from 2.6% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Boaz Weinstein opened a new position in Royce Value Trust worth $22.6M.

  • Boaz Weinstein's largest Q3 2025 buy was Royce Value Trust: 1,404,173 shares worth $22.6M.
  • Boaz Weinstein added most to ASA Gold and Precious Metals in Q3 2025, an estimated $50.9M increase.
  • Boaz Weinstein's biggest Q3 2025 reduction was BlackRock Capital Allocation Term Trust, cutting an estimated $101M.
  • Boaz Weinstein fully exited BlackRock Technology and Private Equity Term Trust in Q3 2025, selling an estimated $445M.
  • Boaz Weinstein's ten largest holdings make up 44% of its $3.66B portfolio in Q3 2025.
  • Boaz Weinstein opened 53 new positions and closed 47 in Q3 2025.
  • Boaz Weinstein's portfolio value fell 14% quarter-over-quarter to $3.66B.

Based on Saba Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.