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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
-2.78%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$984M
AUM Growth
-$40.1M
Cap. Flow
-$46M
Cap. Flow %
-4.68%
Top 10 Hldgs %
48.71%
Holding
114
New
17
Increased
26
Reduced
25
Closed
20

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$32.2M
2
AOD
abrdn Total Dynamic Dividend Fund
AOD
+$26.4M
3
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
+$24.7M
4
GLQ
Clough Global Equity Fund
GLQ
+$21.3M
5
EMD
Western Asset Emerging Markets Debt Fund
EMD
+$19.4M

Top Sells

Rank Stock Value
1
EMD
Western Asset Emerging Markets
EMD
+$23M
2
BGB
Blackstone Strategic Credit 2027 Term Fund
BGB
+$21.6M
3
FXI icon
iShares China Large-Cap ETF
FXI
+$19.3M
4
BGX
Blackstone Long-Short Credit Income Fund
BGX
+$15.1M
5
KHI
Deutsche High Income Trust
KHI
+$14.1M

Sector Composition

Rank Sector Weight
1 Healthcare 6.99%
2 Financials 1.53%
3 Consumer Discretionary 0.59%
4 Industrials 0.2%
5 Consumer Staples 0.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NRO
76
Neuberger Real Estate Securities Income Fund Inc
NRO
$194M
$458K 0.05%
89,429
– –
FAX
77
abrdn Asia-Pacific Income Fund
FAX
$590M
$361K 0.04%
12,987
-279,504
-96% -$8.12M
FAM
78
DELISTED
First Trust/abrdn Global Opportunity Income Fund
FAM
$357K 0.04%
32,005
– –
EEA
79
European Equity Fund
EEA
$73.9M
$349K 0.04%
+45,222
New +$342K
IVH
80
DELISTED
Delaware Ivy High Income Opportunities Fund
IVH
$327K 0.03%
22,142
– –
BCV
81
Bancroft Fund
BCV
$136M
$323K 0.03%
15,970
-14,085
-47% -$287K
EVG
82
Eaton Vance Short Duration Diversified Income Fund
EVG
$142M
$244K 0.02%
17,610
-895,842
-98% -$12M
ZF
83
DELISTED
Virtus Total Return Fund Inc.
ZF
$241K 0.02%
+20,000
New +$236K
MSP
84
DELISTED
Madison Strategic Sector
MSP
$225K 0.02%
18,887
– –
ASHR icon
85
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.35B
$209K 0.02%
8,900
– –
RDN icon
86
Radian Group
RDN
$5.14B
$180K 0.02%
10,000
– –
EAD
87
Allspring Income Opportunities Fund
EAD
$372M
$165K 0.02%
19,455
– –
SCD
88
LMP Capital and Income Fund
SCD
$353M
$154K 0.02%
11,589
– –
MVC
89
DELISTED
MVC Capital, Inc.
MVC
$154K 0.02%
18,000
– –
JMM icon
90
Nuveen Multi-Market Income Fund
JMM
$54.1M
$126K 0.01%
17,285
– –
DYN.WS
91
DELISTED
Dynegy Inc,
DYN.WS
$63K 0.01%
1,394,423
– –
CYHHZ
92
DELISTED
Community Health Systems, Inc. Series A Contingent Value Rights
CYHHZ
$4K ﹤0.01%
795,108
– –
CNQ icon
93
PUT
Canadian Natural Resources
CNQ
$96.9B
– –
-1,402,037
Closed -$22M
FMY
94
First Trust Mortgage Income Fund
FMY
– –
-33,890
Closed -$489K
FXI icon
95
iShares China Large-Cap ETF
FXI
$4.31B
– –
-507,924
Closed -$19.3M
HES
96
DELISTED
Hess
HES
– –
-10,000
Closed -$536K
HES
97
PUT
DELISTED
Hess
HES
– –
-192,300
Closed -$10.3M
JQC icon
98
Nuveen Credit Strategies Income Fund
JQC
$702M
– –
-96,899
Closed -$822K
MBI icon
99
MBIA
MBI
$288M
– –
-360,399
Closed -$2.81M
MBI icon
100
PUT
MBIA
MBI
$288M
– –
-2,289,100
Closed -$17.8M
1 2 3
4
5

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GCM
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JFG
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SPC
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Saba Capital Management's Q4 2016 Portfolio in Review

As of Q4 2016, Saba Capital Management held 114 positions worth $984M, down 3.9% from $1.02B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Saba Capital Management withdrew a net $46M in Q4 2016, closing 20 positions and reducing 25 holdings. Its most notable exit was Western Asset Emerging Markets, an estimated $23M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 7% of assets, up from 2.7% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Saba Capital Management opened a new position in Allergan plc worth $32.7M.

  • Saba Capital Management's largest Q4 2016 buy was Allergan plc: 155,521 shares worth $32.7M.
  • Saba Capital Management added most to abrdn Total Dynamic Dividend Fund in Q4 2016, an estimated $26.4M increase.
  • Saba Capital Management's biggest Q4 2016 reduction was Blackstone Strategic Credit 2027 Term Fund, cutting an estimated $21.6M.
  • Saba Capital Management fully exited Western Asset Emerging Markets in Q4 2016, selling an estimated $23M.
  • Saba Capital Management's ten largest holdings make up 49% of its $984M portfolio in Q4 2016.
  • Saba Capital Management opened 17 new positions and closed 20 in Q4 2016.
  • Saba Capital Management's portfolio value fell 3.9% quarter-over-quarter to $984M.

Based on Saba Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.