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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
AFT
76
DELISTED
Apollo Senior Floating Rate Fund Inc.
AFT
$5.45M 0.29%
+469,002
New +$6.68M
BQH
77
DELISTED
BlackRock New York Municipal Bond Trust
BQH
$5.24M 0.28%
373,391
+33,684
+10% +$511K
IVH
78
DELISTED
Delaware Ivy High Income Opportunities Fund
IVH
$5.24M 0.28%
503,407
+180,732
+56% +$2.33M
EVM
79
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$5.22M 0.27%
495,173
+183,789
+59% +$2.08M
MPA icon
80
BlackRock MuniYield Pennsylvania Quality Fund
MPA
$142M
$5.18M 0.27%
385,776
+178,778
+86% +$2.53M
TLI
81
DELISTED
Western Asset Corporate Loan Fund Inc.
TLI
$5.06M 0.27%
712,073
+121,948
+21% +$1.13M
TSLF
82
DELISTED
THL CREDIT SENIOR LOAN FUND
TSLF
$4.58M 0.24%
395,890
+256,182
+183% +$3.66M
RRD
83
DELISTED
RR Donnelley & Sons Co.
RRD
$4.53M 0.24%
4,723,003
+4,642,752
+5,785% +$11.2M
ARDC
84
Are Dynamic Credit Allocation Fund
ARDC
$298M
$4.46M 0.23%
413,376
+266,390
+181% +$3.8M
CNX icon
85
CNX Resources
CNX
$5.33B
$4.41M 0.23%
+829,642
New +$5.51M
BGX
86
Blackstone Long-Short Credit Income Fund
BGX
$137M
$4.38M 0.23%
+415,068
New +$6.02M
CNXM
87
PUT
DELISTED
CNX Midstream Partners LP
CNXM
$3.9M 0.21%
481,200
-2,506,400
-84% -$31.9M
DHY
88
Credit Suisse High Yield Credit Fund
DHY
$239M
$3.66M 0.19%
+1,998,202
New +$4.58M
DHF
89
BNY Mellon High Yield Strategies Fund
DHF
$174M
$3.3M 0.17%
+1,455,172
New +$4.18M
UBER icon
90
PUT
Uber
UBER
$146B
$3.26M 0.17%
116,700
-4,212,400
-97% -$139M
VMM
91
DELISTED
Delaware Investments Minnesota Municipal Income Fund II
VMM
$3.18M 0.17%
256,946
-78,232
-23% -$1.04M
DNI
92
DELISTED
Dividend and Income Fund
DNI
$3.02M 0.16%
343,204
-58,800
-15% -$696K
VLT icon
93
Invesco High Income Trust II
VLT
$65.1M
$2.79M 0.15%
260,825
-8,319
-3% -$110K
ZGYHU
94
DELISTED
Yunhong International Unit
ZGYHU
$2.67M 0.14%
+275,000
New +$2.71M
RIG icon
95
Transocean
RIG
$5.7B
$2.42M 0.13%
+2,086,611
New +$8.14M
BZH icon
96
Beazer Homes USA
BZH
$901M
$2.32M 0.12%
+360,420
New +$4.46M
MMT
97
Aberdeen Multi-Market Income Fund
MMT
$238M
$2.3M 0.12%
+457,692
New +$2.66M
NFJ
98
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.42B
$2.27M 0.12%
235,729
– –
EVY
99
DELISTED
Eaton Vance New York Municipal Income Trust
EVY
$2.14M 0.11%
172,586
-13,837
-7% -$183K
BBWI icon
100
PUT
Bath & Body Works
BBWI
$4.23B
$2.14M 0.11%
228,845
-1,756,540
-88% -$27.9M
2 3
4
5 6

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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.