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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
+2.89%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$2.11B
AUM Growth
-$46.5M
Cap. Flow
-$144M
Cap. Flow %
-6.81%
Top 10 Hldgs %
53.64%
Holding
106
New
12
Increased
26
Reduced
39
Closed
15

Top Buys

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$46.5M
2
BWG
BrandywineGLOBAL Global Income Opportunities Fund
BWG
+$5.79M
3
NSL
NUVEEN SENIOR INCM FD
NSL
+$5.69M
4
EFF
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
+$5.3M
5
PHD
Pioneer Floating Rate Fund
PHD
+$4.47M

Top Sells

Rank Stock Value
1
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$55.1M
2
JQC icon
Nuveen Credit Strategies Income Fund
JQC
+$36.8M
3
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$36.1M
4
VVR icon
Invesco Senior Income Trust
VVR
+$31.8M
5
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
+$19.4M

Sector Composition

Rank Sector Weight
1 Healthcare 0.55%
2 Industrials 0.15%
3 Energy 0.1%
4 Consumer Staples 0.03%
5 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EFR
76
Eaton Vance Senior Floating-Rate Fund
EFR
$312M
$1.77M 0.08%
130,807
+72,076
+123% +$940K
SDRL
77
DELISTED
Seadrill Limited Common Stock
SDRL
$1.68M 0.08%
661,204
– –
JRO
78
DELISTED
Nuveen Floating Rate Income Opportunty Fund
JRO
$1.33M 0.06%
+133,574
New +$1.28M
NBW
79
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
$947K 0.04%
67,891
-45,823
-40% -$639K
NAZ icon
80
Nuveen Arizona Quality Municipal Income Fund
NAZ
$155M
$897K 0.04%
66,628
-62,116
-48% -$833K
CCIF
81
Carlyle Credit Income Fund
CCIF
$56M
$841K 0.04%
+80,752
New +$821K
AIF
82
DELISTED
Apollo Tactical Income Fund Inc.
AIF
$761K 0.04%
50,411
-9,695
-16% -$144K
SDI
83
DELISTED
Standard Diversified Inc. Class A Common Stock
SDI
$697K 0.03%
47,569
-16,713
-26% -$210K
CXW icon
84
CoreCivic
CXW
$3.03B
$555K 0.03%
+31,905
New +$505K
UNFI icon
85
United Natural Foods
UNFI
$3.07B
$552K 0.03%
63,023
+18,005
+40% +$145K
GEO icon
86
The GEO Group
GEO
$4.11B
$527K 0.03%
+31,746
New +$482K
RRD
87
DELISTED
RR Donnelley & Sons Co.
RRD
$317K 0.02%
80,251
-238,547
-75% -$943K
TWNKW
88
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
$308K 0.01%
156,293
-46,400
-23% -$69.8K
EGIF
89
DELISTED
Eagle Growth and Income Opportunities Fund
EGIF
$182K 0.01%
10,677
-2,115
-17% -$33.9K
NJV
90
DELISTED
Nuveen New Jersey Municipal Value Fund Common shares of beneficial interest
NJV
$152K 0.01%
10,869
-1,039
-9% -$14.3K
RRD
91
PUT
DELISTED
RR Donnelley & Sons Co.
RRD
$4K ﹤0.01%
1,000
-2,115,700
-100% -$8.36M
BCV
92
Bancroft Fund
BCV
$134M
– –
-9,706
Closed -$229K
BTU icon
93
Peabody Energy
BTU
$2.83B
– –
-175,000
Closed -$2.58M
BTU icon
94
PUT
Peabody Energy
BTU
$2.83B
– –
-750,000
Closed -$11M
DTF
95
DTF Tax-Free Income 2028 Term Fund
DTF
$80.6M
– –
-833,701
Closed -$12.1M
FT
96
Franklin Universal Trust
FT
$201M
– –
-10,058
Closed -$76K
HOUS
97
DELISTED
Anywhere Real Estate
HOUS
– –
-225,742
Closed -$1.51M
HOUS
98
PUT
DELISTED
Anywhere Real Estate
HOUS
– –
-2,258,600
Closed -$15.1M
TDG icon
99
PUT
TransDigm Group
TDG
$73.2B
– –
-70,000
Closed -$36.4M
TEVA icon
100
Teva Pharmaceuticals
TEVA
$36.9B
– –
-40,187
Closed -$276K
1 2 3
4
5

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Saba Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Saba Capital Management held 106 positions worth $2.11B, down 2.2% from $2.15B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Saba Capital Management withdrew a net $144M in Q4 2019, closing 15 positions and reducing 39 holdings. Its most notable exit was DTF Tax-Free Income 2028 Term Fund, an estimated $12.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 0.55% of assets, down from 0.97% a quarter earlier, followed by Industrials and Energy.

Against the trend, Saba Capital Management opened a new position in NUVEEN SENIOR INCM FD worth $5.92M.

  • Saba Capital Management's largest Q4 2019 buy was NUVEEN SENIOR INCM FD: 993,958 shares worth $5.92M.
  • Saba Capital Management added most to Saba Capital Income & Opportunities Fund in Q4 2019, an estimated $46.5M increase.
  • Saba Capital Management's biggest Q4 2019 reduction was BlackRock Credit Allocation Income Trust, cutting an estimated $55.1M.
  • Saba Capital Management fully exited DTF Tax-Free Income 2028 Term Fund in Q4 2019, selling an estimated $12.1M.
  • Saba Capital Management's ten largest holdings make up 54% of its $2.11B portfolio in Q4 2019.
  • Saba Capital Management opened 12 new positions and closed 15 in Q4 2019.
  • Saba Capital Management's portfolio value fell 2.2% quarter-over-quarter to $2.11B.

Based on Saba Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.