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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
+1.41%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$1.2B
AUM Growth
+$392M
Cap. Flow
+$352M
Cap. Flow %
29.23%
Top 10 Hldgs %
38.81%
Holding
190
New
102
Increased
22
Reduced
19
Closed
29

Top Buys

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$116M
2
PCI
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
+$42.3M
3
JNK icon
State Street SPDR Bloomberg High Yield Bond ETF
JNK
+$23.1M
4
PDI icon
PIMCO Dynamic Income Fund
PDI
+$16.2M
5
DSL
DoubleLine Income Solutions Fund
DSL
+$15.9M

Top Sells

Rank Stock Value
1
GNW icon
Genworth Financial
GNW
+$15M
2
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$12.3M
3
AAPL icon
Apple
AAPL
+$12.1M
4
RAD
Rite Aid Corporation
RAD
+$12M
5
WFT
Weatherford International plc
WFT
+$7.65M

Sector Composition

Rank Sector Weight
1 Energy 6.5%
2 Consumer Discretionary 6.16%
3 Financials 3.48%
4 Technology 2.2%
5 Healthcare 1.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
1
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
$116M 9.61%
+1,262,946
New +$116M
JNK icon
2
State Street SPDR Bloomberg High Yield Bond ETF
JNK
$7.24B
$58.7M 4.88%
491,519
+193,024
+65% +$23.1M
MBI icon
3
PUT
MBIA
MBI
$288M
$44.6M 3.7%
4,355,500
+2,530,500
+139% +$31.8M
PCI
4
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
$43.3M 3.6%
+1,946,242
New +$42.3M
FCX icon
5
CALL
Freeport-McMoran
FCX
$90B
$37.9M 3.15%
1,145,100
-63,900
-5% -$1.95M
AGO icon
6
PUT
Assured Guaranty
AGO
$3.78B
$37.5M 3.12%
+2,000,000
New +$42.3M
X
7
PUT
DELISTED
US Steel
X
$32.9M 2.74%
1,600,000
-1,207,200
-43% -$22.7M
SLM icon
8
PUT
SLM Corp
SLM
$4.57B
$32.2M 2.68%
3,619,493
-981,818
-21% -$8.57M
LEA icon
9
CALL
Lear
LEA
$7.19B
$32.2M 2.68%
450,000
– –
GM icon
10
General Motors
GM
$74.7B
$31.8M 2.64%
883,721
– –
SPLS
11
PUT
DELISTED
Staples Inc
SPLS
$29.5M 2.45%
2,012,200
– –
LEA icon
12
PUT
Lear
LEA
$7.19B
$28.6M 2.38%
400,000
– –
GLNG icon
13
Golar LNG
GLNG
$4.95B
$26.7M 2.22%
707,858
-8,900
-1% -$326K
MTCN
14
DELISTED
ARCELORMITTAL 6% MANDATORILTY CONV SUB NT DUE 2016 (LUX)
MTCN
$17.2M 1.43%
800,000
– –
PDI icon
15
PIMCO Dynamic Income Fund
PDI
$7.4B
$16.6M 1.38%
+577,995
New +$16.2M
AA icon
16
PUT
Alcoa
AA
$11.7B
$16.6M 1.38%
+849,480
New +$16.4M
DSL
17
DoubleLine Income Solutions Fund
DSL
$1.21B
$16.2M 1.35%
+739,585
New +$15.9M
RDN icon
18
Radian Group
RDN
$5.14B
$15.7M 1.31%
+1,126,991
New +$15M
AGG icon
19
iShares Core US Aggregate Bond ETF
AGG
$138B
$14.9M 1.24%
139,266
+118,466
+570% +$12.6M
BIT icon
20
BlackRock Multi-Sector Income Trust
BIT
$696M
$14.3M 1.19%
+857,801
New +$14M
TK icon
21
Teekay
TK
$975M
$14.2M 1.18%
332,074
-74,326
-18% -$2.99M
BTZ icon
22
BlackRock Credit Allocation Income Trust
BTZ
$927M
$13.4M 1.11%
+1,025,683
New +$12.9M
VXX
23
PUT
DELISTED
iPath S&P 500 VIX Short-Term Futures ETN due 1/30/2019
VXX
$12.9M 1.07%
3,434
-4,544
-57% -$4.55M
SWK icon
24
Stanley Black & Decker
SWK
$14.2B
$12.5M 1.04%
137,573
-14,730
-10% -$1.26M
AMKR icon
25
Amkor Technology
AMKR
$16.1B
$12.4M 1.03%
2,886,284
+674,842
+31% +$2.9M
1
2 3 4 5

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WB
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GCM
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VI
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JFG
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SPC
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Saba Capital Management's Q3 2013 Portfolio in Review

As of Q3 2013, Saba Capital Management held 190 positions worth $1.2B, up 48% from $811M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Saba Capital Management deployed $352M of net new capital in Q3 2013, opening 102 new positions and adding to 22 existing holdings. Its largest new stake was iShares iBoxx $ High Yield Corporate Bond ETF: 1,262,946 shares worth $116M.

By sector, the portfolio is most concentrated in Energy at 6.5% of assets, down from 9.9% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was TIME WARNER CABLE INC NEW COM STK, an estimated $12.3M trimmed.

  • Saba Capital Management's largest Q3 2013 buy was iShares iBoxx $ High Yield Corporate Bond ETF: 1,262,946 shares worth $116M.
  • Saba Capital Management added most to State Street SPDR Bloomberg High Yield Bond ETF in Q3 2013, an estimated $23.1M increase.
  • Saba Capital Management's biggest Q3 2013 reduction was TIME WARNER CABLE INC NEW COM STK, cutting an estimated $12.3M.
  • Saba Capital Management fully exited Genworth Financial in Q3 2013, selling an estimated $15M.
  • Saba Capital Management's ten largest holdings make up 39% of its $1.2B portfolio in Q3 2013.
  • Saba Capital Management opened 102 new positions and closed 29 in Q3 2013.
  • Saba Capital Management's portfolio value rose 48% quarter-over-quarter to $1.2B.

Based on Saba Capital Management's 13F filing for Q3 2013, filed 14 Nov 2013.