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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
-22.75%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$1.9B
AUM Growth
-$206M
Cap. Flow
+$430M
Cap. Flow %
22.59%
Top 10 Hldgs %
45.34%
Holding
159
New
68
Increased
44
Reduced
30
Closed
12

Top Buys

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$46.9M
2
JFR icon
Nuveen Floating Rate Income Fund
JFR
+$26M
3
HYD icon
VanEck High Yield Muni ETF
HYD
+$25.5M
4
BGB
Blackstone Strategic Credit 2027 Term Fund
BGB
+$21.1M
5
ISD
PGIM High Yield Bond Fund
ISD
+$19.7M

Top Sells

Rank Stock Value
1
HIO
Western Asset High Income Opportunity Fund
HIO
+$12M
2
HIX
Western Asset High Income Fund II
HIX
+$11.5M
3
VVR icon
Invesco Senior Income Trust
VVR
+$11.2M
4
CYH icon
Community Health Systems
CYH
+$9.27M
5
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$7.36M

Sector Composition

Rank Sector Weight
1 Energy 0.85%
2 Consumer Discretionary 0.58%
3 Industrials 0.39%
4 Communication Services 0.36%
5 Healthcare 0.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NMY
51
DELISTED
Nuveen Maryland Quality Municipal Income Fund
NMY
$9.29M 0.49%
735,534
-61,757
-8% -$829K
YPF icon
52
YPF
YPF
$201B
$9.01M 0.47%
2,160,341
+1,974,274
+1,061% +$16M
BGT icon
53
BlackRock Floating Rate Income Trust
BGT
$323M
$8.63M 0.45%
879,611
+164,465
+23% +$1.97M
MIY icon
54
BlackRock MuniYield Michigan Quality Fund
MIY
$351M
$8.35M 0.44%
629,913
+2,789
+0.4% +$39.3K
KIO
55
KKR Income Opportunities Fund
KIO
$451M
$7.78M 0.41%
+729,762
New +$10.6M
MNE
56
DELISTED
Blackrock MUNI New York Intermediate Duration Fund, Inc.
MNE
$7.65M 0.4%
522,205
– –
MUJ icon
57
BlackRock MuniHoldings New Jersey Quality Fund
MUJ
$639M
$7.57M 0.4%
574,018
-107,239
-16% -$1.52M
MYI icon
58
BlackRock MuniYield Quality Fund III
MYI
$712M
$7.41M 0.39%
579,656
+405,477
+233% +$5.48M
RGT
59
Royce Global Value Trust
RGT
$99.1M
$7.18M 0.38%
892,940
+248,090
+38% +$2.65M
NSL
60
DELISTED
NUVEEN SENIOR INCM FD
NSL
$7.17M 0.38%
1,621,869
+627,911
+63% +$3.45M
RA
61
Brookfield Real Assets Income Fund
RA
$710M
$7.07M 0.37%
+481,540
New +$9.61M
CHTR icon
62
Charter Communications
CHTR
$17.3B
$6.89M 0.36%
+15,786
New +$7.72M
SABA
63
Saba Capital Income & Opportunities Fund II
SABA
$223M
$6.48M 0.34%
+605,718
New +$7.12M
AIF
64
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$6.38M 0.34%
563,149
+512,738
+1,017% +$7.31M
PHT
65
DELISTED
Pioneer High Income Fund
PHT
$6.12M 0.32%
+953,353
New +$8.4M
CLF icon
66
PUT
Cleveland-Cliffs
CLF
$6.41B
$6.09M 0.32%
+1,543,000
New +$9.71M
ARLP icon
67
PUT
Alliance Resource Partners
ARLP
$3.34B
$5.98M 0.31%
+1,930,100
New +$14.9M
NKG
68
DELISTED
Nuveen Georgia Quality Municipal Income Fund
NKG
$5.82M 0.31%
490,044
-1,300
-0.3% -$16.2K
ACP
69
abrdn Income Credit Strategies Fund
ACP
$630M
$5.79M 0.3%
+793,542
New +$8.32M
KBH icon
70
KB Home
KBH
$3.43B
$5.76M 0.3%
+318,072
New +$10.2M
CYH icon
71
Community Health Systems
CYH
$415M
$5.71M 0.3%
1,710,545
-2,288,786
-57% -$9.27M
ERC
72
Allspring Multi-Sector Income Fund
ERC
$256M
$5.62M 0.3%
+583,943
New +$6.95M
AWF
73
AllianceBernstein Global High Income Fund
AWF
$876M
$5.53M 0.29%
+597,225
New +$6.82M
JSD
74
DELISTED
NUVEEN SHORT DURATION CREDIT OPPORTUNITIES FUND
JSD
$5.48M 0.29%
503,962
+313,767
+165% +$4.37M
SOR
75
Source Capital
SOR
$387M
$5.46M 0.29%
+178,066
New +$6.54M
1 2
3
4 5

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Saba Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, Saba Capital Management held 159 positions worth $1.9B, down 9.8% from $2.11B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Saba Capital Management deployed $430M of net new capital in Q1 2020, opening 68 new positions and adding to 44 existing holdings. Its largest new stake was Nuveen Floating Rate Income Fund: 2,803,197 shares worth $21.2M.

By sector, the portfolio is most concentrated in Energy at 0.85% of assets, up from 0.1% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Western Asset High Income Opportunity Fund, an estimated $12M trimmed.

  • Saba Capital Management's largest Q1 2020 buy was Nuveen Floating Rate Income Fund: 2,803,197 shares worth $21.2M.
  • Saba Capital Management added most to Saba Capital Income & Opportunities Fund in Q1 2020, an estimated $46.9M increase.
  • Saba Capital Management's biggest Q1 2020 reduction was Western Asset High Income Opportunity Fund, cutting an estimated $12M.
  • Saba Capital Management fully exited BlackRock Credit Allocation Income Trust in Q1 2020, selling an estimated $7.36M.
  • Saba Capital Management's ten largest holdings make up 45% of its $1.9B portfolio in Q1 2020.
  • Saba Capital Management opened 68 new positions and closed 12 in Q1 2020.
  • Saba Capital Management's portfolio value fell 9.8% quarter-over-quarter to $1.9B.

Based on Saba Capital Management's 13F filing for Q1 2020, filed 15 May 2020.