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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
-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
FINS
126
Angel Oak Financial Strategies Income Term Trust
FINS
$420M
$593K 0.03%
+34,689
New +$686K
SDI
127
DELISTED
Standard Diversified Inc. Class A Common Stock
SDI
$519K 0.03%
47,569
– –
JHI
128
John Hancock Investors Trust
JHI
$116M
$498K 0.03%
+39,621
New +$646K
ENX
129
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$458K 0.02%
+39,587
New +$478K
FTF
130
Franklin Limited Duration Income Trust
FTF
$232M
$426K 0.02%
+54,276
New +$487K
MYC
131
DELISTED
Blackrock Muni Yield California Fund, Inc.
MYC
$387K 0.02%
+29,225
New +$411K
HYG icon
132
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.6B
$369K 0.02%
+4,790
New +$405K
OII icon
133
Oceaneering
OII
$4.96B
$356K 0.02%
+121,105
New +$1.26M
ACV
134
Virtus Diversified Income & Convertible Fund
ACV
$279M
$333K 0.02%
+18,529
New +$424K
SDRL
135
DELISTED
Seadrill Limited Common Stock
SDRL
$284K 0.01%
661,204
– –
AOD
136
abrdn Total Dynamic Dividend Fund
AOD
$1.11B
$274K 0.01%
+41,674
New +$341K
MD icon
137
Pediatrix Medical
MD
$2.12B
$224K 0.01%
+19,233
New +$397K
NAZ icon
138
Nuveen Arizona Quality Municipal Income Fund
NAZ
$157M
$143K 0.01%
11,560
-55,068
-83% -$742K
USAC icon
139
PUT
USA Compression Partners
USAC
$3.73B
$143K 0.01%
25,400
-357,000
-93% -$4.75M
NJV
140
DELISTED
Nuveen New Jersey Municipal Value Fund Common shares of beneficial interest
NJV
$130K 0.01%
10,169
-700
-6% -$9.55K
CCAC.U
141
DELISTED
CITIC Capital Acquisition Corp. Units, each consisting of one Class A ordinary share, $0.0001 par va
CCAC.U
$110K 0.01%
+11,070
New +$111K
IHTA
142
DELISTED
Invesco High Income 2024 Target Term Fund
IHTA
$107K 0.01%
+14,546
New +$144K
FEO
143
DELISTED
First Trust/abrdn Emerging Opportunity Fund
FEO
$106K 0.01%
+10,732
New +$144K
HNW
144
DELISTED
Pioneer Diversified High Income Fund
HNW
$105K 0.01%
+10,000
New +$140K
TWNKW
145
DELISTED
Hostess Brands, Inc. Warrants
TWNKW
$103K 0.01%
181,293
+25,000
+16% +$28.7K
TSI
146
TCW Strategic Income Fund
TSI
$213M
$94K ﹤0.01%
+18,198
New +$102K
ECF
147
Ellsworth Growth & Income Fund
ECF
$172M
$86K ﹤0.01%
+10,000
New +$108K
BTZ icon
148
BlackRock Credit Allocation Income Trust
BTZ
$933M
– –
-526,385
Closed -$7.36M
CXW icon
149
CoreCivic
CXW
$2.99B
– –
-31,905
Closed -$555K
CXW icon
150
PUT
CoreCivic
CXW
$2.99B
– –
-400,000
Closed -$6.95M
3 4 5
6
7

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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.