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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
+8.68%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$2.44B
AUM Growth
+$34.5M
Cap. Flow
-$262M
Cap. Flow %
-10.73%
Top 10 Hldgs %
53.19%
Holding
216
New
66
Increased
46
Reduced
45
Closed
49

Top Buys

Rank Stock Value
1
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$45.4M
2
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$32.3M
3
EFT
Eaton Vance Floating-Rate Income Trust
EFT
+$29.9M
4
CPZ
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
+$18.1M
5
BGB
Blackstone Strategic Credit 2027 Term Fund
BGB
+$13.9M

Top Sells

Rank Stock Value
1
EHI
Western Asset Global High Income Fund
EHI
+$86.3M
2
PHD
Pioneer Floating Rate Fund
PHD
+$55.7M
3
NHS
Neuberger High Yield Strategies Fund Inc
NHS
+$54.1M
4
HIO
Western Asset High Income Opportunity Fund
HIO
+$53.2M
5
HIX
Western Asset High Income Fund II
HIX
+$46M

Sector Composition

Rank Sector Weight
1 Financials 1.75%
2 Industrials 0.96%
3 Healthcare 0.46%
4 Consumer Discretionary 0.37%
5 Energy 0.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AFT
26
DELISTED
Apollo Senior Floating Rate Fund Inc.
AFT
$22.5M 0.92%
1,561,799
+150,278
+11% +$2.02M
AIF
27
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$21.3M 0.87%
1,467,780
+29,340
+2% +$393K
NQP
28
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$20.3M 0.83%
1,403,125
-172,384
-11% -$2.39M
BGT icon
29
BlackRock Floating Rate Income Trust
BGT
$321M
$20.2M 0.83%
1,711,205
+368,801
+27% +$4.28M
NSL
30
DELISTED
NUVEEN SENIOR INCM FD
NSL
$19.8M 0.81%
3,815,160
+183,340
+5% +$912K
CPZ
31
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$258M
$19.5M 0.8%
+1,117,022
New +$18.1M
HIE
32
DELISTED
Miller/Howard High Income Equity Fund
HIE
$19.1M 0.78%
2,464,359
+894,914
+57% +$6.28M
NUO
33
DELISTED
Nuveen Ohio Quality Municipal Income Fund
NUO
$17M 0.7%
1,084,901
-88,692
-8% -$1.36M
GAM
34
General American Investors Company
GAM
$1.55B
$16.3M 0.67%
437,323
– –
JSD
35
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
$16.2M 0.66%
1,211,203
+35,650
+3% +$449K
FCT
36
First Trust Senior Floating Rate Income Fund II
FCT
$251M
$16M 0.66%
1,379,750
-324,137
-19% -$3.61M
JQC icon
37
Nuveen Credit Strategies Income Fund
JQC
$705M
$15.9M 0.65%
2,516,764
-211,728
-8% -$1.29M
RRD
38
DELISTED
RR Donnelley & Sons Co.
RRD
$14.8M 0.61%
6,550,651
-489,670
-7% -$736K
BWG
39
BrandywineGLOBAL Global Income Opportunities Fund
BWG
$129M
$14.5M 0.59%
1,161,843
-130,799
-10% -$1.54M
MSD
40
Morgan Stanley Emerging Markets Debt Fund
MSD
$147M
$14.4M 0.59%
1,559,255
-22,278
-1% -$197K
ISD
41
PGIM High Yield Bond Fund
ISD
$415M
$14.4M 0.59%
958,514
-504,324
-34% -$7.25M
EAD
42
Allspring Income Opportunities Fund
EAD
$372M
$13.7M 0.56%
1,673,994
+717,008
+75% +$5.52M
JDD
43
DELISTED
Nuveen Diversified Dividend and Income Fund
JDD
$13.7M 0.56%
1,556,926
+795,563
+104% +$6.61M
VMM
44
DELISTED
Delaware Investments Minnesota Municipal Income Fund II
VMM
$13.6M 0.56%
1,040,173
+524,498
+102% +$6.84M
DEX
45
DELISTED
DELAWARE ENHANCED GLOBAL DIVIDEND & INCOME FUND
DEX
$13.6M 0.56%
1,399,178
+62,422
+5% +$583K
GEO icon
46
PUT
The GEO Group
GEO
$4.1B
$13.2M 0.54%
1,492,800
+991,700
+198% +$9.51M
FSLF
47
DELISTED
First Eagle Senior Loan Fund
FSLF
$13M 0.53%
933,733
+199,219
+27% +$2.63M
IDE
48
Voya Infrastructure, Industrials and Materials Fund
IDE
$196M
$12.2M 0.5%
1,189,030
+695,078
+141% +$6.95M
HYB
49
DELISTED
New America High Income Fund, Inc.
HYB
$11.9M 0.49%
1,369,475
-195,437
-12% -$1.65M
HIO
50
Western Asset High Income Opportunity Fund
HIO
$334M
$11.1M 0.46%
2,244,297
-10,668,253
-83% -$53.2M
1
2
3 4 5

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Saba Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Saba Capital Management held 216 positions worth $2.44B, up 1.4% from $2.41B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Saba Capital Management withdrew a net $262M in Q4 2020, closing 49 positions and reducing 45 holdings. Its most notable exit was Western Asset Global High Income Fund, an estimated $86.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 1.7% of assets, up from 0.51% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Saba Capital Management opened a new position in Calamos Long/Short Equity & Dynamic Income Trust worth $19.5M.

  • Saba Capital Management's largest Q4 2020 buy was Calamos Long/Short Equity & Dynamic Income Trust: 1,117,022 shares worth $19.5M.
  • Saba Capital Management added most to Saba Capital Income & Opportunities Fund II in Q4 2020, an estimated $45.4M increase.
  • Saba Capital Management's biggest Q4 2020 reduction was Pioneer Floating Rate Fund, cutting an estimated $55.7M.
  • Saba Capital Management fully exited Western Asset Global High Income Fund in Q4 2020, selling an estimated $86.3M.
  • Saba Capital Management's ten largest holdings make up 53% of its $2.44B portfolio in Q4 2020.
  • Saba Capital Management opened 66 new positions and closed 49 in Q4 2020.
  • Saba Capital Management's portfolio value rose 1.4% quarter-over-quarter to $2.44B.

Based on Saba Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.