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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
RAC.WS
301
Rithm Acquisition Corp Warrants
RAC.WS
$15K ﹤0.01%
25,000
– –
NVNIW
302
Nvni Group Limited Warrants
NVNIW
$838K
$14.2K ﹤0.01%
211,075
– –
SMXWW
303
SMX (Security Matters) Public Ltd Warrant
SMXWW
$870K
$12.1K ﹤0.01%
265,947
– –
OSRHW
304
OSR Health Warrant
OSRHW
$347K
$11.8K ﹤0.01%
250,000
– –
ZOOZW
305
ZOOZ Strategy Ltd Warrant
ZOOZW
$131K
$10.5K ﹤0.01%
262,498
– –
BNAIW
306
Brand Engagement Network Warrant
BNAIW
$9.68K ﹤0.01%
212,302
– –
LIMNW
307
Liminatus Pharma Warrants
LIMNW
$425K
$8.94K ﹤0.01%
233,761
– –
ARBEW icon
308
Arbe Robotics Warrant
ARBEW
$333K
$8.85K ﹤0.01%
114,180
– –
KIDZW
309
KIDZ AI Inc Warrants
KIDZW
$274K
$8.43K ﹤0.01%
699,290
– –
CAPTW
310
DELISTED
Captivision Inc Warrant
CAPTW
$8.38K ﹤0.01%
649,998
– –
BRLSW icon
311
Borealis Foods Inc Warrant
BRLSW
$8.36K ﹤0.01%
166,894
– –
NOTE.WS
312
DELISTED
FiscalNote Holdings Warrants
NOTE.WS
$8.34K ﹤0.01%
273,057
– –
BDMDW
313
Baird Medical Investment Holdings Warrant
BDMDW
$7.33K ﹤0.01%
132,013
– –
GCLWW
314
GCL Global Holdings Warrants
GCLWW
$7.22K ﹤0.01%
275,000
– –
NAMMW
315
Namib Minerals Warrants
NAMMW
$3.81M
$6.26K ﹤0.01%
83,480
– –
VGASW icon
316
Verde Clean Fuels Warrant
VGASW
$547K
$6.02K ﹤0.01%
73,108
– –
LPBBW
317
Launch Two Acquisition Corp Warrant
LPBBW
$5.16K ﹤0.01%
14,427
– –
CDIOW icon
318
Cardio Diagnostics Holdings Inc Warrant
CDIOW
$730K
$4.78K ﹤0.01%
199,839
– –
ALCYW
319
DELISTED
Alchemy Investments Acquisition Corp 1 Warrants
ALCYW
$4.77K ﹤0.01%
21,669
– –
PBMWW
320
Psyence Biomedical Warrant
PBMWW
$457K
$4.71K ﹤0.01%
297,847
– –
MRNOW
321
Murano Global Investments PLC Warrants
MRNOW
$113K
$4.6K ﹤0.01%
174,998
– –
CDTTW
322
CDT Equity Inc Warrant
CDTTW
$1.56M
$4.21K ﹤0.01%
765,000
– –
BAERW icon
323
Bridger Aerospace Warrant
BAERW
$13.1M
$3.74K ﹤0.01%
18,752
– –
WALDW icon
324
Waldencast PLC Warrant
WALDW
$4.68M
$3.63K ﹤0.01%
99,998
– –
LVWR.WS icon
325
LiveWire Group Warrants
LVWR.WS
$8.16M
$3.54K ﹤0.01%
49,203
– –
11 12
13
14 15

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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.