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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
+8.05%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$4.97B
AUM Growth
+$805M
Cap. Flow
+$407M
Cap. Flow %
8.19%
Top 10 Hldgs %
36.32%
Holding
612
New
38
Increased
118
Reduced
49
Closed
118

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$144M
2
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$133M
3
BMEZ icon
BlackRock Health Sciences Trust II
BMEZ
+$118M
4
BSTZ icon
BlackRock Science and Technology Term Trust
BSTZ
+$50M
5
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$48.9M

Top Sells

Rank Stock Value
1
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$89M
2
KMF
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
+$32.7M
3
FSCO
FS Credit Opportunities Corp
FSCO
+$22.5M
4
CEN
Center Coast Brookfield MLP & Energy Infrastructure Fund
CEN
+$15.1M
5
F icon
Ford
F
+$12.7M

Sector Composition

Rank Sector Weight
1 Financials 3.71%
2 Consumer Discretionary 0.93%
3 Industrials 0.4%
4 Technology 0.39%
5 Communication Services 0.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NFJ
26
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.39B
$44.9M 0.9%
3,564,307
+1,177,724
+49% +$13.5M
NEA icon
27
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.36B
$42.1M 0.85%
3,823,691
+883,109
+30% +$9.01M
CTR
28
DELISTED
ClearBridge MLP and Midstream Total Return Fund Inc.
CTR
$40.7M 0.82%
1,124,306
+96,048
+9% +$3.15M
ASGI
29
abrdn Global Infrastructure Income Fund
ASGI
$740M
$40.4M 0.81%
2,249,557
+816,594
+57% +$13.5M
PEO
30
Adams Natural Resources Fund
PEO
$731M
$38.2M 0.77%
1,925,513
+226,536
+13% +$4.64M
IWM icon
31
PUT
iShares Russell 2000 ETF
IWM
$79.1B
$36.1M 0.73%
+180,000
New +$32.2M
PHM icon
32
PUT
Pultegroup
PHM
$25.2B
$36.1M 0.73%
350,000
– –
AVGO icon
33
PUT
Broadcom
AVGO
$1.76T
$33.5M 0.67%
300,000
– –
SABA
34
Saba Capital Income & Opportunities Fund II
SABA
$220M
$33.3M 0.67%
4,396,303
-11,366,978
-72% -$89M
NML
35
Neuberger Energy Infrastructure and Income Fund Inc
NML
$572M
$33.1M 0.67%
4,813,029
-650,452
-12% -$4.35M
PFSI icon
36
PUT
PennyMac Financial
PFSI
$4.47B
$32.4M 0.65%
367,100
– –
AMAT icon
37
PUT
Applied Materials
AMAT
$347B
$32.4M 0.65%
200,000
– –
NZF icon
38
Nuveen Municipal Credit Income Fund
NZF
$2.41B
$31.7M 0.64%
2,681,128
+575,827
+27% +$6.32M
NPCT icon
39
Nuveen Core Plus Impact Fund
NPCT
$279M
$30M 0.6%
2,979,163
+25,106
+0.8% +$238K
ENX
40
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$29.4M 0.59%
3,047,849
+548,484
+22% +$4.8M
FEI
41
DELISTED
FIRST TRUST MLP AND ENERGY INCOME FUND
FEI
$29.1M 0.59%
3,394,029
+7,388
+0.2% +$61.6K
KLAC icon
42
PUT
KLA
KLAC
$222B
$29.1M 0.58%
500,000
– –
JRI icon
43
Nuveen Real Asset Income & Growth Fund
JRI
$350M
$28.8M 0.58%
2,461,485
+540,886
+28% +$5.82M
ANF icon
44
PUT
Abercrombie & Fitch
ANF
$4.55B
$28.8M 0.58%
326,300
– –
EVM
45
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$28.5M 0.57%
3,114,325
+641,461
+26% +$5.42M
VTN icon
46
Invesco Trust for Investment Grade New York Municipals
VTN
$161M
$27.6M 0.55%
2,649,742
+1,344,953
+103% +$12.8M
MHI
47
DELISTED
Pioneer Municipal High Income Fund
MHI
$27.4M 0.55%
3,179,843
+813,474
+34% +$6.31M
NAD icon
48
Nuveen Quality Municipal Income Fund
NAD
$2.73B
$27.4M 0.55%
2,389,415
+869,819
+57% +$9.18M
VPV icon
49
Invesco Pennsylvania Value Municipal Income Trust
VPV
$195M
$26.3M 0.53%
2,634,261
+520,183
+25% +$4.85M
NVG icon
50
Nuveen AMT-Free Municipal Credit Income Fund
NVG
$2.67B
$25.2M 0.51%
2,135,801
+405,905
+23% +$4.41M
1
2
3 4 5

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Saba Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Saba Capital Management held 612 positions worth $4.97B, up 19% from $4.17B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Saba Capital Management deployed $407M of net new capital in Q4 2023, opening 38 new positions and adding to 118 existing holdings. Its largest new stake was Gabelli Dividend & Income Trust: 972,846 shares worth $21.1M.

By sector, the portfolio is most concentrated in Financials at 3.7% of assets, down from 5.9% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Saba Capital Income & Opportunities Fund II, an estimated $89M trimmed.

  • Saba Capital Management's largest Q4 2023 buy was Gabelli Dividend & Income Trust: 972,846 shares worth $21.1M.
  • Saba Capital Management added most to BlackRock Technology and Private Equity Term Trust in Q4 2023, an estimated $144M increase.
  • Saba Capital Management's biggest Q4 2023 reduction was Saba Capital Income & Opportunities Fund II, cutting an estimated $89M.
  • Saba Capital Management fully exited Kayne Anderson NextGen Energy & Infrastructure, Inc. in Q4 2023, selling an estimated $32.7M.
  • Saba Capital Management's ten largest holdings make up 36% of its $4.97B portfolio in Q4 2023.
  • Saba Capital Management opened 38 new positions and closed 118 in Q4 2023.
  • Saba Capital Management's portfolio value rose 19% quarter-over-quarter to $4.97B.

Based on Saba Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.