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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
MSFT icon
376
PUT
Microsoft
MSFT
$3.62T
– –
-105,800
Closed -$54.8M
MUC icon
377
BlackRock MuniHoldings California Quality Fund
MUC
$999M
– –
-596,597
Closed -$6.47M
MUR icon
378
Murphy Oil
MUR
$5.55B
– –
-160,298
Closed -$4.55M
MVT
379
DELISTED
BlackRock MuniVest Fund II
MVT
– –
-21,929
Closed -$233K
NETDW
380
DELISTED
Nabors Energy Transition Corp II Warrant
NETDW
– –
-352,804
Closed -$81.8K
NXJ
381
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
– –
-319,759
Closed -$3.97M
PGZ
382
Principal Real Estate Income Fund
PGZ
$67.9M
– –
-132,451
Closed -$1.39M
PHD
383
DELISTED
Pioneer Floating Rate Fund
PHD
– –
-319,614
Closed -$3.18M
REAL icon
384
The RealReal
REAL
$1.51B
– –
-327,967
Closed -$3.49M
SONDW
385
DELISTED
Sonder Holdings Inc Warrants
SONDW
– –
-531,114
Closed -$5.74K
SVIIR
386
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
– –
-500,000
Closed -$255K
SVIIW
387
DELISTED
Spring Valley Acquisition Corp II Warrant
SVIIW
– –
-349,998
Closed -$464K
TEAF
388
DELISTED
Ecofin Sustainable & Social Impact Term Fund
TEAF
– –
-1,549,226
Closed -$18.2M
TYG
389
Tortoise Energy Infrastructure Corp
TYG
$1.08B
– –
-22,919
Closed -$988K
UBER icon
390
PUT
Uber
UBER
$146B
– –
-383,100
Closed -$37.5M
UBS icon
391
PUT
UBS Group
UBS
$173B
– –
-53,700
Closed -$2.2M
UWMC.WS
392
DELISTED
UWM Holdings Warrants
UWMC.WS
– –
-380,604
Closed -$52.8K
WDC icon
393
PUT
Western Digital
WDC
$182B
– –
-559,000
Closed -$67.1M
XOM icon
394
ExxonMobil
XOM
$643B
– –
-28,466
Closed -$3.21M
XOM icon
395
PUT
ExxonMobil
XOM
$643B
– –
-295,300
Closed -$33.3M
ZTR
396
Virtus Total Return Fund
ZTR
$337M
– –
-47,645
Closed -$307K
DHAIW
397
DELISTED
DIH Holding US Inc Warrants
DHAIW
– –
-945,000
Closed -$9.64K
CEROW
398
DELISTED
CERo Therapeutics Warrants
CEROW
– –
-295,913
Closed -$4.26K
CRMLW icon
399
Critical Metals Corp Warrants
CRMLW
$16M
– –
-317,899
Closed -$668K
MBVIU
400
M3-Brigade Acquisition VI Corp Units
MBVIU
– –
-247,577
Closed -$2.51M
13 14 15
16
17

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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.