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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
+8.29%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$3.66B
AUM Growth
-$599M
Cap. Flow
-$853M
Cap. Flow %
-23.31%
Top 10 Hldgs %
44.39%
Holding
376
New
53
Increased
42
Reduced
87
Closed
47

Top Buys

Rank Stock Value
1
ASA
ASA Gold and Precious Metals
ASA
+$50.9M
2
RVT icon
Royce Value Trust
RVT
+$22.1M
3
TY icon
TRI-Continental Corp
TY
+$17M
4
WENN
Wen Acquisition Corp
WENN
+$15.9M
5
GAM
General American Investors Company
GAM
+$14.1M

Top Sells

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$445M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$101M
3
MHI
Pioneer Municipal High Income Fund
MHI
+$38.5M
4
ADX icon
Adams Diversified Equity Fund
ADX
+$33.4M
5
MAV
Pioneer Municipal High Income Advantage Fund
MAV
+$33.3M

Sector Composition

Rank Sector Weight
1 Financials 4.4%
2 Technology 2.69%
3 Communication Services 2.13%
4 Consumer Discretionary 1.37%
5 Industrials 1.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AR icon
201
Antero Resources
AR
$11.1B
$336K 0.01%
10,000
– –
PMTRW
202
Perimeter Acquisition Corp I Warrant
PMTRW
$9.06M
$333K 0.01%
554,845
– –
DAAQW
203
Digital Asset Acquisition Corp Warrant
DAAQW
$2.59M
$320K 0.01%
471,140
– –
FBYDW icon
204
Falcon's Beyond Global Warrants
FBYDW
$10.3M
$314K 0.01%
186,852
– –
ZTR
205
Virtus Total Return Fund
ZTR
$340M
$307K 0.01%
47,645
– –
IMSRW
206
Terrestrial Energy Warrant
IMSRW
$25.3M
$295K 0.01%
48,932
– –
RAAQW
207
DELISTED
Real Asset Acquisition Corp Warrants
RAAQW
$292K 0.01%
687,813
– –
F icon
208
Ford
F
$59.3B
$292K 0.01%
24,389
-318,962
-93% -$3.68M
OPTU
209
Optimum Communications Inc
OPTU
$325M
$290K 0.01%
+120,451
New +$296K
FLDDW
210
Fold Holdings Warrant
FLDDW
$759K
$285K 0.01%
568,730
– –
TACOW
211
Berto Acquisition Corp Warrant
TACOW
$16M
$278K 0.01%
406,561
– –
RFMZ
212
RiverNorth Flexible Municipal Income Fund II
RFMZ
$319M
$275K 0.01%
+21,077
New +$268K
SVIIR
213
DELISTED
Spring Valley Acquisition Corp II Rights
SVIIR
$255K 0.01%
500,000
– –
HCMAW
214
HCM III Acquisition Corp Warrants
HCMAW
$8.13M
$236K 0.01%
+333,333
New +$257K
AIRJW
215
AirJoule Technologies Warrant
AIRJW
$71M
$234K 0.01%
275,647
– –
MVT
216
DELISTED
BlackRock MuniVest Fund II
MVT
$233K 0.01%
21,929
-148,300
-87% -$1.53M
BGLWW
217
Blue Gold Ltd Warrant
BGLWW
$919K
$232K 0.01%
484,298
– –
IPCXR
218
Inflection Point Acquisition Corp III Rights
IPCXR
$228K 0.01%
512,200
– –
PCAPW
219
ProCap Acquisition Corp Warrant
PCAPW
$225K 0.01%
+333,332
New +$220K
MBAVW
220
DELISTED
M3-Brigade Acquisition V Corp Warrant
MBAVW
$200K 0.01%
149,170
– –
CPZ
221
Calamos Long/Short Equity & Dynamic Income Trust
CPZ
$262M
$183K 0.01%
11,330
-42,531
-79% -$699K
ONCHW
222
1RT Acquisition Corp Warrant
ONCHW
$178K ﹤0.01%
+199,998
New +$213K
XRPNW
223
Armada Acquisition Corp II Warrant
XRPNW
$9.09M
$174K ﹤0.01%
+183,597
New +$94.8K
FUFUW icon
224
BitFuFu Inc Warrant
FUFUW
$861K
$166K ﹤0.01%
414,140
– –
NPWR.WS icon
225
NET Power Inc Warrants
NPWR.WS
$154K ﹤0.01%
205,984
-54,075
-21% -$35.7K
7 8
9
10 11

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Saba Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Saba Capital Management held 376 positions worth $3.66B, down 14% from $4.26B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Saba Capital Management withdrew a net $853M in Q3 2025, closing 47 positions and reducing 87 holdings. Its most notable exit was BlackRock Technology and Private Equity Term Trust, an estimated $445M position sold in full.

By sector, the portfolio is most concentrated in Financials at 4.4% of assets, up from 2.6% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Saba Capital Management opened a new position in Royce Value Trust worth $22.6M.

  • Saba Capital Management's largest Q3 2025 buy was Royce Value Trust: 1,404,173 shares worth $22.6M.
  • Saba Capital Management added most to ASA Gold and Precious Metals in Q3 2025, an estimated $50.9M increase.
  • Saba Capital Management's biggest Q3 2025 reduction was BlackRock Capital Allocation Term Trust, cutting an estimated $101M.
  • Saba Capital Management fully exited BlackRock Technology and Private Equity Term Trust in Q3 2025, selling an estimated $445M.
  • Saba Capital Management's ten largest holdings make up 44% of its $3.66B portfolio in Q3 2025.
  • Saba Capital Management opened 53 new positions and closed 47 in Q3 2025.
  • Saba Capital Management's portfolio value fell 14% quarter-over-quarter to $3.66B.

Based on Saba Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.