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Saba Capital Management Portfolio holdings

AUM $3.62B
1-Year Est. Return 13%
This Fund
S&P 500
This Quarter Est. Return
-0.1%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$3.37B
AUM Growth
-$292M
Cap. Flow
-$275M
Cap. Flow %
-8.16%
Top 10 Hldgs %
47.48%
Holding
415
New
86
Increased
59
Reduced
59
Closed
65

Top Buys

Rank Stock Value
1
BPRE
Bluerock Private Real Estate Fund
BPRE
+$47.4M
2
ASA
ASA Gold and Precious Metals
ASA
+$37.3M
3
BSTZ icon
BlackRock Science and Technology Term Trust
BSTZ
+$19.2M
4
NFJ
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
+$14.6M
5
RMT
Royce Micro-Cap Trust
RMT
+$12.5M

Top Sells

Rank Stock Value
1
EVM
Eaton Vance California Municipal Bond Fund
EVM
+$43.1M
2
ENX
Eaton Vance New York Municipal Bond Fund
ENX
+$38.4M
3
ADX icon
Adams Diversified Equity Fund
ADX
+$29.9M
4
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$23.5M
5
NQP
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
+$20.7M

Sector Composition

Rank Sector Weight
1 Financials 7.78%
2 Technology 2.83%
3 Communication Services 2.24%
4 Consumer Discretionary 2.07%
5 Industrials 1.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BGLWW
226
Blue Gold Ltd Warrant
BGLWW
$518K
$204K 0.01%
484,298
– –
DAAQW
227
Digital Asset Acquisition Corp Warrant
DAAQW
$2.59M
$198K 0.01%
471,140
– –
IPCXR
228
Inflection Point Acquisition Corp III Rights
IPCXR
$194K 0.01%
512,200
– –
HCMAW
229
HCM III Acquisition Corp Warrants
HCMAW
$8.13M
$167K 0.01%
333,333
– –
TACOW
230
Berto Acquisition Corp Warrant
TACOW
$16.5M
$164K ﹤0.01%
406,561
– –
XRPNW
231
Armada Acquisition Corp II Warrant
XRPNW
$8.91M
$163K ﹤0.01%
183,597
– –
LOKVW
232
DELISTED
Live Oak Acquisition Corp V Warrants
LOKVW
$162K ﹤0.01%
164,350
– –
IMSRW
233
Terrestrial Energy Warrant
IMSRW
$26.7M
$160K ﹤0.01%
75,681
+26,749
+55% +$145K
RNGTW
234
Range Capital Acquisition Corp II Warrants
RNGTW
$4.05M
$156K ﹤0.01%
+487,499
New +$199K
MBAV
235
DELISTED
M3-Brigade Acquisition V Corp
MBAV
$151K ﹤0.01%
+14,229
New +$151K
BTMWW
236
DELISTED
Bitcoin Depot Inc Warrant
BTMWW
$151K ﹤0.01%
1,357,795
– –
RDZNW icon
237
Roadzen Inc Warrants
RDZNW
$8.64M
$149K ﹤0.01%
541,499
– –
ONCHW
238
1RT Acquisition Corp Warrant
ONCHW
$138K ﹤0.01%
199,998
– –
MBAVW
239
DELISTED
M3-Brigade Acquisition V Corp Warrant
MBAVW
$137K ﹤0.01%
149,170
– –
BLZRW
240
Trailblazer Acquisition Corp Warrant
BLZRW
$135K ﹤0.01%
+262,103
New +$154K
CCIIW
241
Cohen Circle Acquisition Corp II Warrant
CCIIW
$4.21M
$135K ﹤0.01%
187,499
– –
PCAPW
242
ProCap Acquisition Corp Warrant
PCAPW
$124K ﹤0.01%
333,332
– –
FTW.WS
243
Presidio Production Co Warrants
FTW.WS
$120K ﹤0.01%
235,038
– –
EVAC.WS
244
EQV Ventures Acquisition Corp II Warrants
EVAC.WS
$113K ﹤0.01%
336,579
– –
FUSE
245
Fusemachines Inc
FUSE
$38.6M
$112K ﹤0.01%
+67,711
New +$140K
DRDBW
246
Roman DBDR Acquisition Corp II Warrants
DRDBW
$106K ﹤0.01%
174,262
– –
KRSP.WS
247
Rice Acquisition Corp Warrants
KRSP.WS
$106K ﹤0.01%
+132,581
New +$119K
SLDPW icon
248
Solid Power Inc Warrant
SLDPW
$8.72M
$106K ﹤0.01%
144,086
-10,000
-6% -$11.2K
NPWR.WS icon
249
NET Power Inc Warrants
NPWR.WS
$16.1M
$95K ﹤0.01%
180,984
-25,000
-12% -$21.9K
FLDDW
250
Fold Holdings Warrant
FLDDW
$1.36M
$93.4K ﹤0.01%
568,730
– –
8 9
10
11 12

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Saba Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Saba Capital Management held 415 positions worth $3.37B, down 8% from $3.66B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Saba Capital Management withdrew a net $275M in Q4 2025, closing 65 positions and reducing 59 holdings. Its most notable exit was Eaton Vance California Municipal Bond Fund, an estimated $43.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 7.8% of assets, up from 4.4% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Saba Capital Management opened a new position in Bluerock Private Real Estate Fund worth $46.1M.

  • Saba Capital Management's largest Q4 2025 buy was Bluerock Private Real Estate Fund: 3,074,615 shares worth $46.1M.
  • Saba Capital Management added most to ASA Gold and Precious Metals in Q4 2025, an estimated $37.3M increase.
  • Saba Capital Management's biggest Q4 2025 reduction was BlackRock ESG Capital Allocation Term Trust, cutting an estimated $23.5M.
  • Saba Capital Management fully exited Eaton Vance California Municipal Bond Fund in Q4 2025, selling an estimated $43.1M.
  • Saba Capital Management's ten largest holdings make up 47% of its $3.37B portfolio in Q4 2025.
  • Saba Capital Management opened 86 new positions and closed 65 in Q4 2025.
  • Saba Capital Management's portfolio value fell 8% quarter-over-quarter to $3.37B.

Based on Saba Capital Management's 13F filing for Q4 2025, filed 17 Feb 2026.