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SCM

Saba Capital Management Portfolio holdings

AUM $3.62B
1-Year Est. Return 13%
This Fund
S&P 500
This Quarter Est. Return
+2.89%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$2.11B
AUM Growth
-$46.5M
Cap. Flow
-$144M
Cap. Flow %
-6.81%
Top 10 Hldgs %
53.64%
Holding
106
New
12
Increased
26
Reduced
39
Closed
15

Top Buys

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$46.5M
2
BWG
BrandywineGLOBAL Global Income Opportunities Fund
BWG
+$5.79M
3
NSL
NUVEEN SENIOR INCM FD
NSL
+$5.69M
4
EFF
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
+$5.3M
5
PHD
Pioneer Floating Rate Fund
PHD
+$4.47M

Top Sells

Rank Stock Value
1
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$55.1M
2
JQC icon
Nuveen Credit Strategies Income Fund
JQC
+$36.8M
3
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$36.1M
4
VVR icon
Invesco Senior Income Trust
VVR
+$31.8M
5
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
+$19.4M

Sector Composition

Rank Sector Weight
1 Healthcare 0.55%
2 Industrials 0.15%
3 Energy 0.1%
4 Consumer Staples 0.03%
5 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EFF
26
DELISTED
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
$26.8M 1.27%
1,677,194
+340,328
+25% +$5.3M
NUO
27
DELISTED
Nuveen Ohio Quality Municipal Income Fund
NUO
$26.1M 1.24%
1,688,858
-34,449
-2% -$537K
GHY
28
PGIM Global High Yield Fund
GHY
$480M
$25.4M 1.21%
1,693,792
+112,041
+7% +$1.62M
JQC icon
29
Nuveen Credit Strategies Income Fund
JQC
$702M
$24.2M 1.15%
3,159,190
-4,952,081
-61% -$36.8M
JGH icon
30
Nuveen Global High Income Fund
JGH
$351M
$23.9M 1.13%
1,456,260
-327,764
-18% -$5.17M
RIG icon
31
PUT
Transocean
RIG
$5.52B
$23.2M 1.1%
3,374,000
+1,511,800
+81% +$7.79M
EVF
32
Eaton Vance Senior Income Trust
EVF
$89.9M
$18.3M 0.87%
2,848,469
-88,672
-3% -$552K
GAM
33
General American Investors Company
GAM
$1.54B
$16.5M 0.78%
437,323
– –
NUM
34
DELISTED
Nuveen Michigan Quality Municipal Income Fund
NUM
$16.4M 0.78%
1,158,240
-56,044
-5% -$786K
MHN
35
DELISTED
BlackRock MuniHoldings New Yrok Quality Fund
MHN
$13.8M 0.65%
1,012,671
+6,081
+0.6% +$82.4K
CYH icon
36
Community Health Systems
CYH
$393M
$11.6M 0.55%
3,999,331
-1,708,911
-30% -$5.92M
MUC icon
37
BlackRock MuniHoldings California Quality Fund
MUC
$1.01B
$11.3M 0.53%
804,508
+179,853
+29% +$2.52M
NXJ
38
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$10.9M 0.52%
742,429
– –
NMY
39
DELISTED
Nuveen Maryland Quality Municipal Income Fund
NMY
$10.7M 0.51%
797,291
– –
ISD
40
PGIM High Yield Bond Fund
ISD
$416M
$10.5M 0.5%
685,005
-166,355
-20% -$2.49M
DSU icon
41
BlackRock Debt Strategies Fund
DSU
$592M
$10.2M 0.48%
912,312
+70,121
+8% +$761K
BFZ
42
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$9.99M 0.47%
736,705
– –
MUJ icon
43
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$643M
$9.78M 0.46%
681,257
-148,148
-18% -$2.11M
BWG
44
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$129M
$9.7M 0.46%
767,846
+468,458
+156% +$5.79M
BGT icon
45
BlackRock Floating Rate Income Trust
BGT
$322M
$9.2M 0.44%
715,146
+16,192
+2% +$203K
MIY icon
46
BlackRock MuniYield Michigan Quality Fund
MIY
$351M
$8.9M 0.42%
627,124
+9,709
+2% +$136K
TSLA icon
47
PUT
Tesla
TSLA
$1.21T
$8.37M 0.4%
300,000
-1,275,000
-81% -$27.7M
MNE
48
DELISTED
Blackrock MUNI New York Intermediate Duration Fund, Inc.
MNE
$8M 0.38%
522,205
+63,084
+14% +$915K
RGT
49
Royce Global Value Trust
RGT
$97.1M
$7.54M 0.36%
644,850
-17,504
-3% -$188K
BTZ icon
50
BlackRock Credit Allocation Income Trust
BTZ
$933M
$7.36M 0.35%
526,385
-4,041,740
-88% -$55.1M
1
2
3 4 5

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Saba Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Saba Capital Management held 106 positions worth $2.11B, down 2.2% from $2.15B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Saba Capital Management withdrew a net $144M in Q4 2019, closing 15 positions and reducing 39 holdings. Its most notable exit was DTF Tax-Free Income 2028 Term Fund, an estimated $12.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 0.55% of assets, down from 0.97% a quarter earlier, followed by Industrials and Energy.

Against the trend, Saba Capital Management opened a new position in NUVEEN SENIOR INCM FD worth $5.92M.

  • Saba Capital Management's largest Q4 2019 buy was NUVEEN SENIOR INCM FD: 993,958 shares worth $5.92M.
  • Saba Capital Management added most to Saba Capital Income & Opportunities Fund in Q4 2019, an estimated $46.5M increase.
  • Saba Capital Management's biggest Q4 2019 reduction was BlackRock Credit Allocation Income Trust, cutting an estimated $55.1M.
  • Saba Capital Management fully exited DTF Tax-Free Income 2028 Term Fund in Q4 2019, selling an estimated $12.1M.
  • Saba Capital Management's ten largest holdings make up 54% of its $2.11B portfolio in Q4 2019.
  • Saba Capital Management opened 12 new positions and closed 15 in Q4 2019.
  • Saba Capital Management's portfolio value fell 2.2% quarter-over-quarter to $2.11B.

Based on Saba Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.