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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
+1.9%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$1.72B
AUM Growth
+$520M
Cap. Flow
+$461M
Cap. Flow %
26.79%
Top 10 Hldgs %
33.92%
Holding
240
New
78
Increased
73
Reduced
37
Closed
39

Top Buys

Rank Stock Value
1
HYT icon
BlackRock Corporate High Yield Fund
HYT
+$61.2M
2
EDD
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
+$37.3M
3
GHY
PGIM Global High Yield Fund
GHY
+$34.9M
4
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
+$30.5M
5
AGG icon
iShares Core US Aggregate Bond ETF
AGG
+$29.4M

Top Sells

Rank Stock Value
1
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$54.5M
2
MTCN
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
+$17.2M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$16.7M
4
GLNG icon
Golar LNG
GLNG
+$14.4M
5
SPLS
Staples Inc
SPLS
+$12.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 4.67%
2 Energy 3.39%
3 Financials 3.36%
4 Technology 2.58%
5 Materials 1.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AGNC icon
201
AGNC Investment
AGNC
$12.4B
– –
-107,115
Closed -$2.28M
AGO icon
202
Assured Guaranty
AGO
$3.78B
– –
-506,100
Closed -$11M
ARDC
203
Are Dynamic Credit Allocation Fund
ARDC
$296M
– –
-19,585
Closed -$355K
AWF
204
AllianceBernstein Global High Income Fund
AWF
$868M
– –
-313,329
Closed -$4.71M
BND icon
205
Vanguard Total Bond Market
BND
$158B
– –
-59,117
Closed -$4.78M
BPOP icon
206
Popular Inc
BPOP
$10.9B
– –
-135,000
Closed -$3.54M
BPOP icon
207
PUT
Popular Inc
BPOP
$10.9B
– –
-261,300
Closed -$6.86M
EDF
208
Virtus Stone Harbor Emerging Markets Income Fund
EDF
$164M
– –
-56,240
Closed -$1.1M
FCX icon
209
CALL
Freeport-McMoran
FCX
$90.2B
– –
-1,145,100
Closed -$37.9M
GLV
210
Clough Global Dividend & Income Fund
GLV
$78.4M
– –
-12,379
Closed -$188K
HAS icon
211
Hasbro
HAS
$12.8B
– –
-133,419
Closed -$6.29M
ITRI icon
212
Itron
ITRI
$3.76B
– –
-74,551
Closed -$3.19M
JFR icon
213
Nuveen Floating Rate Income Fund
JFR
$1.24B
– –
-22,925
Closed -$274K
LEA icon
214
CALL
Lear
LEA
$7.26B
– –
-450,000
Closed -$32.2M
LEA icon
215
PUT
Lear
LEA
$7.26B
– –
-400,000
Closed -$28.6M
RIG icon
216
Transocean
RIG
$5.84B
– –
-56,313
Closed -$2.51M
THR
217
DELISTED
Thermon Group Holdings
THR
– –
-37,102
Closed -$857K
TMUS icon
218
T-Mobile US
TMUS
$190B
– –
-431,378
Closed -$11.2M
VCLT icon
219
Vanguard Long-Term Corporate Bond ETF
VCLT
$8.86B
– –
-5,875
Closed -$482K
X
220
DELISTED
US Steel
X
– –
-68,200
Closed -$1.4M
X
221
PUT
DELISTED
US Steel
X
– –
-1,600,000
Closed -$32.9M
AFT
222
DELISTED
Apollo Senior Floating Rate Fund Inc.
AFT
– –
-14,900
Closed -$266K
EDI
223
DELISTED
Virtus Stone Harbor Emerging Markets Total Income Fund
EDI
– –
-11,740
Closed -$234K
NSL
224
DELISTED
NUVEEN SENIOR INCM FD
NSL
– –
-30,989
Closed -$223K
VTA
225
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
– –
-124,184
Closed -$1.6M
6 7 8
9
10

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WB
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GCM
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VI
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SL
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JFG
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Uber San Francisco, California $3.6B AUM 19.81% 1-Year Est. Return
SPC
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Saba Capital Management's Q4 2013 Portfolio in Review

As of Q4 2013, Saba Capital Management held 240 positions worth $1.72B, up 43% from $1.2B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Saba Capital Management deployed $461M of net new capital in Q4 2013, opening 78 new positions and adding to 73 existing holdings. Its largest new stake was PGIM Global High Yield Fund: 2,022,202 shares worth $35.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 4.7% of assets, down from 6.2% a quarter earlier, followed by Energy and Financials.

On the sell side, the largest reduction was State Street SPDR Bloomberg High Yield Bond ETF, an estimated $54.5M trimmed.

  • Saba Capital Management's largest Q4 2013 buy was PGIM Global High Yield Fund: 2,022,202 shares worth $35.1M.
  • Saba Capital Management added most to BlackRock Corporate High Yield Fund in Q4 2013, an estimated $61.2M increase.
  • Saba Capital Management's biggest Q4 2013 reduction was State Street SPDR Bloomberg High Yield Bond ETF, cutting an estimated $54.5M.
  • Saba Capital Management fully exited ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX) in Q4 2013, selling an estimated $17.2M.
  • Saba Capital Management's ten largest holdings make up 34% of its $1.72B portfolio in Q4 2013.
  • Saba Capital Management opened 78 new positions and closed 39 in Q4 2013.
  • Saba Capital Management's portfolio value rose 43% quarter-over-quarter to $1.72B.

Based on Saba Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.