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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
-3.79%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$4.27B
AUM Growth
-$530M
Cap. Flow
-$408M
Cap. Flow %
-9.56%
Top 10 Hldgs %
53.58%
Holding
370
New
14
Increased
54
Reduced
78
Closed
84

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$33.6M
2
TYG
Tortoise Energy Infrastructure Corp
TYG
+$24.1M
3
GAM
General American Investors Company
GAM
+$23M
4
CNNE icon
Cannae Holdings
CNNE
+$21.3M
5
GDV icon
Gabelli Dividend & Income Trust
GDV
+$19.8M

Top Sells

Rank Stock Value
1
VMO icon
Invesco Municipal Opportunity Trust
VMO
+$40.2M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$40.2M
3
NAC icon
Nuveen California Quality Municipal Income Fund
NAC
+$34M
4
VTN icon
Invesco Trust for Investment Grade New York Municipals
VTN
+$28.7M
5
VPV icon
Invesco Pennsylvania Value Municipal Income Trust
VPV
+$26.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 1.37%
2 Communication Services 1.12%
3 Technology 0.81%
4 Financials 0.81%
5 Industrials 0.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYB
51
DELISTED
New America High Income Fund, Inc.
HYB
$15.2M 0.36%
1,866,253
– –
DMA
52
Destra Multi-Alternative Fund
DMA
$67.9M
$14.7M 0.34%
1,738,401
– –
ECF
53
Ellsworth Growth & Income Fund
ECF
$166M
$13.6M 0.32%
1,403,987
– –
CPZ
54
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$258M
$13.6M 0.32%
916,845
-86,235
-9% -$1.34M
RA
55
Brookfield Real Assets Income Fund
RA
$707M
$13.3M 0.31%
998,740
-178,043
-15% -$2.39M
M icon
56
PUT
Macy's
M
$6.52B
$13.1M 0.31%
773,200
– –
DMB
57
BNY Mellon Municipal Bond Infrastructure Fund
DMB
$193M
$12.7M 0.3%
1,225,212
+90,152
+8% +$973K
BGY icon
58
BlackRock Enhanced International Dividend Trust
BGY
$524M
$12.5M 0.29%
2,356,882
+556,770
+31% +$3.09M
GF
59
New Germany Fund
GF
$180M
$12.3M 0.29%
1,577,988
+689,500
+78% +$5.77M
GLO
60
Clough Global Opportunities Fund
GLO
$249M
$12.3M 0.29%
2,396,426
+53,560
+2% +$285K
MRLN
61
Merlin Inc
MRLN
$355M
$12.1M 0.28%
+1,224,823
New +$12.1M
NML
62
Neuberger Energy Infrastructure and Income Fund Inc
NML
$584M
$11.8M 0.28%
1,336,774
-1,150,037
-46% -$10M
PAGS icon
63
PagSeguro Digital
PAGS
$2.68B
$11.8M 0.28%
1,877,626
+1,117,811
+147% +$8.59M
TBLD
64
Thornburg Income Builder Opportunities Trust
TBLD
$699M
$11.5M 0.27%
705,967
-129,480
-15% -$2.19M
BMBL icon
65
Bumble
BMBL
$368M
$11.3M 0.26%
1,385,736
-535,174
-28% -$4.13M
BTT icon
66
BlackRock Municipal 2030 Target Term Trust
BTT
$1.43B
$11.1M 0.26%
539,880
+157,536
+41% +$3.34M
LGI
67
Lazard Global Total Return & Income Fund
LGI
$234M
$10.4M 0.24%
650,215
-615,961
-49% -$10.4M
STHO icon
68
Star Holdings Shares of Beneficial Interest
STHO
$114M
$9.95M 0.23%
1,022,198
+204,030
+25% +$2.38M
GNT
69
GAMCO Natural Resources, Gold & Income Trust
GNT
$134M
$9.66M 0.23%
1,826,812
– –
EOD
70
Allspring Global Dividend Opportunity Fund
EOD
$278M
$9.38M 0.22%
1,886,968
+15,415
+0.8% +$76.1K
EMO
71
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.03B
$9.32M 0.22%
200,240
-55,765
-22% -$2.55M
BIDU icon
72
Baidu
BIDU
$37.5B
$9.03M 0.21%
107,068
+23,649
+28% +$2.16M
CXE
73
DELISTED
MFS High Income Municipal Trust
CXE
$8.27M 0.19%
2,248,261
-573,035
-20% -$2.19M
PCK
74
DELISTED
Pimco California Municipal Income Fund II
PCK
$8.11M 0.19%
1,417,456
+152,715
+12% +$911K
LNC icon
75
Lincoln National
LNC
$8.77B
$8.01M 0.19%
252,740
-174,377
-41% -$5.81M
1 2
3
4 5

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JFG
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Saba Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Saba Capital Management held 370 positions worth $4.27B, down 11% from $4.8B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Saba Capital Management withdrew a net $408M in Q4 2024, closing 84 positions and reducing 78 holdings. Its most notable exit was Nuveen California Quality Municipal Income Fund, an estimated $34M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 1.4% of assets, up from 0.85% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Saba Capital Management opened a new position in Merlin Inc worth $12.1M.

  • Saba Capital Management's largest Q4 2024 buy was Merlin Inc: 1,224,823 shares worth $12.1M.
  • Saba Capital Management added most to BlackRock Technology and Private Equity Term Trust in Q4 2024, an estimated $33.6M increase.
  • Saba Capital Management's biggest Q4 2024 reduction was Invesco Municipal Opportunity Trust, cutting an estimated $40.2M.
  • Saba Capital Management fully exited Nuveen California Quality Municipal Income Fund in Q4 2024, selling an estimated $34M.
  • Saba Capital Management's ten largest holdings make up 54% of its $4.27B portfolio in Q4 2024.
  • Saba Capital Management opened 14 new positions and closed 84 in Q4 2024.
  • Saba Capital Management's portfolio value fell 11% quarter-over-quarter to $4.27B.

Based on Saba Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.