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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
+12.46%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$2.29B
AUM Growth
+$386M
Cap. Flow
+$130M
Cap. Flow %
5.69%
Top 10 Hldgs %
48.23%
Holding
161
New
14
Increased
39
Reduced
52
Closed
45

Top Buys

Rank Stock Value
1
PHD
Pioneer Floating Rate Fund
PHD
+$27.9M
2
EFT
Eaton Vance Floating-Rate Income Trust
EFT
+$22.8M
3
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$20M
4
JFR icon
Nuveen Floating Rate Income Fund
JFR
+$18.8M
5
EVF
Eaton Vance Senior Income Trust
EVF
+$17.1M

Top Sells

Rank Stock Value
1
HYD icon
VanEck High Yield Muni ETF
HYD
+$21.6M
2
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
+$10.3M
3
BIT icon
BlackRock Multi-Sector Income Trust
BIT
+$9.93M
4
EAD
Allspring Income Opportunities Fund
EAD
+$9.77M
5
BLW icon
BlackRock Limited Duration Income Trust
BLW
+$9.45M

Sector Composition

Rank Sector Weight
1 Industrials 0.46%
2 Energy 0.28%
3 Healthcare 0.23%
4 Materials 0.19%
5 Consumer Discretionary 0.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GIK.U
101
DELISTED
GigCapital3, Inc. Units, each consisting of one share of Common Stock and three-fourths of one Redee
GIK.U
$1M 0.04%
+100,000
New +$993K
BSE
102
DELISTED
BLACKROCK NEW YORK MUNICIPAL INCOME QUALITY TRUST
BSE
$974K 0.04%
73,820
-80,683
-52% -$1.02M
NBW
103
DELISTED
Neuberger Berman California Municipal Fund Inc.
NBW
$755K 0.03%
58,723
-7,259
-11% -$90.9K
RIG icon
104
Transocean
RIG
$5.62B
$748K 0.03%
408,476
-1,678,135
-80% -$2.61M
SDI
105
DELISTED
Standard Diversified Inc. Class A Common Stock
SDI
$614K 0.03%
47,569
– –
FVAC.U
106
DELISTED
Fortress Value Acquisition Corp. Units, each consisting of one share of Class A common stock and one
FVAC.U
$515K 0.02%
+50,000
New +$503K
SOAC.U
107
DELISTED
Sustainable Opportunities Acquisition Corp. Units, each consisting of one Class A ordinary share and
SOAC.U
$505K 0.02%
+50,000
New +$497K
CIK
108
Credit Suisse Asset Management Income Fund
CIK
$134M
$402K 0.02%
148,393
-635,571
-81% -$1.63M
POST icon
109
Post Holdings
POST
$4.21B
$293K 0.01%
5,111
-13,363
-72% -$778K
JWS.U
110
DELISTED
Jaws Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one red
JWS.U
$261K 0.01%
+25,000
New +$260K
OII icon
111
Oceaneering
OII
$4.74B
$219K 0.01%
34,349
-86,756
-72% -$458K
TWNKW
112
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
$152K 0.01%
181,293
– –
AOD
113
abrdn Total Dynamic Dividend Fund
AOD
$1.1B
$150K 0.01%
19,502
-22,172
-53% -$161K
MYI icon
114
BlackRock MuniYield Quality Fund III
MYI
$714M
$146K 0.01%
11,186
-568,470
-98% -$7.13M
FEO
115
DELISTED
First Trust/abrdn Emerging Opportunity Fund
FEO
$127K 0.01%
10,732
– –
CCAC.U
116
DELISTED
CITIC Capital Acquisition Corp. Units, each consisting of one Class A ordinary share, $0.0001 par va
CCAC.U
$111K ﹤0.01%
11,070
– –
ACP
117
abrdn Income Credit Strategies Fund
ACP
$636M
– –
-793,542
Closed -$5.79M
ACV
118
Virtus Diversified Income & Convertible Fund
ACV
$277M
– –
-18,529
Closed -$333K
ARLP icon
119
PUT
Alliance Resource Partners
ARLP
$3.37B
– –
-1,930,100
Closed -$5.98M
BBWI icon
120
Bath & Body Works
BBWI
$4.02B
– –
-95,289
Closed -$890K
BBWI icon
121
PUT
Bath & Body Works
BBWI
$4.02B
– –
-228,845
Closed -$2.14M
BGH
122
Barings Global Short Duration High Yield Fund
BGH
$281M
– –
-183,967
Closed -$2.05M
BGX
123
Blackstone Long-Short Credit Income Fund
BGX
$136M
– –
-415,068
Closed -$4.38M
BIT icon
124
BlackRock Multi-Sector Income Trust
BIT
$696M
– –
-823,043
Closed -$9.93M
BSL
125
Blackstone Senior Floating Rate 2027 Term Fund
BSL
$169M
– –
-128,371
Closed -$1.51M
3 4
5
6 7

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Saba Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, Saba Capital Management held 161 positions worth $2.29B, up 20% from $1.9B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Saba Capital Management deployed $130M of net new capital in Q2 2020, opening 14 new positions and adding to 39 existing holdings. Its largest new stake was First Eagle Senior Loan Fund: 701,149 shares worth $8.64M.

By sector, the portfolio is most concentrated in Industrials at 0.46% of assets, up from 0.39% a quarter earlier, followed by Energy and Healthcare.

On the sell side, the largest reduction was FIRST TRUST HIGH INCOME LONG/SHORT FUND, an estimated $10.3M trimmed.

  • Saba Capital Management's largest Q2 2020 buy was First Eagle Senior Loan Fund: 701,149 shares worth $8.64M.
  • Saba Capital Management added most to Pioneer Floating Rate Fund in Q2 2020, an estimated $27.9M increase.
  • Saba Capital Management's biggest Q2 2020 reduction was FIRST TRUST HIGH INCOME LONG/SHORT FUND, cutting an estimated $10.3M.
  • Saba Capital Management fully exited VanEck High Yield Muni ETF in Q2 2020, selling an estimated $21.6M.
  • Saba Capital Management's ten largest holdings make up 48% of its $2.29B portfolio in Q2 2020.
  • Saba Capital Management opened 14 new positions and closed 45 in Q2 2020.
  • Saba Capital Management's portfolio value rose 20% quarter-over-quarter to $2.29B.

Based on Saba Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.