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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
+4.65%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$1.02B
AUM Growth
-$94.5M
Cap. Flow
-$141M
Cap. Flow %
-13.81%
Top 10 Hldgs %
48.19%
Holding
110
New
13
Increased
21
Reduced
41
Closed
15

Top Buys

Rank Stock Value
1
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
+$18.4M
2
BWG
BrandywineGLOBAL Global Income Opportunities Fund
BWG
+$10.8M
3
GAM
General American Investors Company
GAM
+$7.45M
4
CYH icon
Community Health Systems
CYH
+$7.16M
5
USA icon
Liberty All-Star Equity Fund
USA
+$6.47M

Top Sells

Rank Stock Value
1
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
+$36M
2
RSX
VanEck Russia ETF
RSX
+$14.4M
3
KHI
Deutsche High Income Trust
KHI
+$6.36M
4
MHY
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
+$6.29M
5
GDF
WESTERN ASSET GLB PARTNERS INCM FUND INC. COM
GDF
+$6.17M

Sector Composition

Rank Sector Weight
1 Healthcare 2.68%
2 Financials 0.78%
3 Energy 0.56%
4 Technology 0.34%
5 Consumer Discretionary 0.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VGI
76
Virtus Global Multi-Sector Income Fund
VGI
$82M
$528K 0.05%
33,247
-99,621
-75% -$1.57M
FMY
77
First Trust Mortgage Income Fund
FMY
$48.7M
$489K 0.05%
33,890
– –
QEP
78
DELISTED
QEP RESOURCES, INC.
QEP
$488K 0.05%
25,000
– –
NRO
79
Neuberger Real Estate Securities Income Fund Inc
NRO
$191M
$486K 0.05%
89,429
-28,869
-24% -$159K
SDRL
80
DELISTED
Seadrill Limited Common Stock
SDRL
$462K 0.05%
+728
New +$523K
FAM
81
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
$377K 0.04%
32,005
– –
IVH
82
DELISTED
Delaware Ivy High Income Opportunities Fund
IVH
$318K 0.03%
22,142
-88,777
-80% -$1.26M
GLO
83
Clough Global Opportunities Fund
GLO
$248M
$235K 0.02%
24,268
-2,875
-11% -$27.7K
DYN.WS
84
DELISTED
Dynegy Inc,
DYN.WS
$223K 0.02%
1,394,423
– –
MSP
85
DELISTED
Madison Strategic Sector
MSP
$222K 0.02%
18,887
-12,530
-40% -$147K
ASHR icon
86
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.54B
$219K 0.02%
8,900
– –
JGV
87
DELISTED
NUVEEN GLOBAL EQUITY INCOME FUND
JGV
$211K 0.02%
17,700
– –
NE
88
DELISTED
Noble Corporation
NE
$204K 0.02%
+32,253
New +$217K
EAD
89
Allspring Income Opportunities Fund
EAD
$373M
$163K 0.02%
19,455
-77,016
-80% -$637K
SCD
90
LMP Capital and Income Fund
SCD
$355M
$158K 0.02%
11,589
-7,123
-38% -$97.1K
DEX
91
DELISTED
DELAWARE ENHANCED GLOBAL DIVIDEND & INCOME FUND
DEX
$157K 0.02%
15,555
– –
MVC
92
DELISTED
MVC Capital, Inc.
MVC
$149K 0.01%
18,000
– –
RDN icon
93
Radian Group
RDN
$5.14B
$136K 0.01%
10,000
– –
JMM icon
94
Nuveen Multi-Market Income Fund
JMM
$54.7M
$130K 0.01%
17,285
– –
CYHHZ
95
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
$7K ﹤0.01%
795,108
– –
BAC icon
96
Bank of America
BAC
$434B
– –
-32,000
Closed -$425K
EVF
97
Eaton Vance Senior Income Trust
EVF
$90.1M
– –
-70,749
Closed -$425K
GDO
98
Western Asset Global Corporate Defined Opportunity Fund
GDO
$77.1M
– –
-88,521
Closed -$1.51M
HYG icon
99
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
– –
-10,000
Closed -$847K
HYI
100
Western Asset High Yield Opportunity Fund Inc
HYI
$134M
– –
-27,557
Closed -$414K
1 2 3
4
5

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Saba Capital Management's Q3 2016 Portfolio in Review

As of Q3 2016, Saba Capital Management held 110 positions worth $1.02B, down 8.5% from $1.12B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Saba Capital Management withdrew a net $141M in Q3 2016, closing 15 positions and reducing 41 holdings. Its most notable exit was PIMCO Dynamic Credit and Mortgage Income Fund, an estimated $36M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 2.7% of assets, up from 1.5% a quarter earlier, followed by Financials and Energy.

Against the trend, Saba Capital Management opened a new position in General American Investors Company worth $7.49M.

  • Saba Capital Management's largest Q3 2016 buy was General American Investors Company: 229,412 shares worth $7.49M.
  • Saba Capital Management added most to FIRST TRUST HIGH INCOME LONG/SHORT FUND in Q3 2016, an estimated $18.4M increase.
  • Saba Capital Management's biggest Q3 2016 reduction was Deutsche High Income Trust, cutting an estimated $6.36M.
  • Saba Capital Management fully exited PIMCO Dynamic Credit and Mortgage Income Fund in Q3 2016, selling an estimated $36M.
  • Saba Capital Management's ten largest holdings make up 48% of its $1.02B portfolio in Q3 2016.
  • Saba Capital Management opened 13 new positions and closed 15 in Q3 2016.
  • Saba Capital Management's portfolio value fell 8.5% quarter-over-quarter to $1.02B.

Based on Saba Capital Management's 13F filing for Q3 2016, filed 14 Nov 2016.