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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
+9.04%
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
-$498M
(-18%)
Cap. Flow
-$653M
Cap. Flow
% of AUM
-28.55%
Top 10 Holdings %
Top 10 Hldgs %
54.84%
Holding
180
New
15
Increased
47
Reduced
42
Closed
66
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
|
+$34M |
| 2 |
Invesco Senior Income Trust
VVR
|
+$27.5M |
| 3 |
BlackRock Credit Allocation Income Trust
BTZ
|
+$26M |
| 4 |
BRW
Saba Capital Income & Opportunities Fund
BRW
|
+$21.4M |
| 5 |
EHI
Western Asset Global High Income Fund
EHI
|
+$20.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EAD
Allspring Income Opportunities Fund
EAD
|
+$39.9M |
| 2 |
Texas Instruments
TXN
|
+$28.4M |
| 3 |
Qualcomm
QCOM
|
+$17.6M |
| 4 |
AOD
abrdn Total Dynamic Dividend Fund
AOD
|
+$17.1M |
| 5 |
BlackRock Corporate High Yield Fund
HYT
|
+$15.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 1.04% |
| 2 | Healthcare | 0.73% |
| 3 | Consumer Discretionary | 0.31% |
| 4 | Energy | 0.24% |
| 5 | Financials | 0.19% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $508M | 22.22% |
5,873,500
-5,528,500
| -48% | -$469M |
|
2
PUT
TransDigm Group
TDG
$69.9B
| $141M | 6.16% |
+310,000
| New | +$126M |
|
3
Nuveen Credit Strategies Income Fund
JQC
$705M
| $110M | 4.81% |
14,212,653
+1,375,475
| +11% | +$10.7M |
|
|
EVV
4
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
| $84.5M | 3.7% |
6,677,427
+630,959
| +10% | +$7.86M |
|
|
5
Invesco Senior Income Trust
VVR
$459M
| $79M | 3.46% |
18,817,238
+6,660,641
| +55% | +$27.5M |
|
|
VTA
6
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
| $73.2M | 3.2% |
6,742,727
+3,134,958
| +87% | +$34M |
|
|
HIX
7
Western Asset High Income Fund II
HIX
$350M
| $67.9M | 2.97% |
10,477,671
+1,304,623
| +14% | +$8.28M |
|
|
HIO
8
Western Asset High Income Opportunity Fund
HIO
$334M
| $67.1M | 2.94% |
13,901,700
+1,127,018
| +9% | +$5.36M |
|
|
EHI
9
Western Asset Global High Income Fund
EHI
$175M
| $66.7M | 2.92% |
7,103,284
+2,185,651
| +44% | +$20.2M |
|
10
PUT
YPF
YPF
$20.4B
| $56.9M | 2.49% |
+4,059,700
| New | +$59.5M |
|
|
BRW
11
Saba Capital Income & Opportunities Fund
BRW
$342M
| $54.7M | 2.39% |
5,720,493
+2,259,995
| +65% | +$21.4M |
|
12
PUT
Simon Property Group
SPG
$74.7B
| $54.7M | 2.39% |
300,000
| – | – |
|
13
PUT
Tesla
TSLA
$1.22T
| $54.6M | 2.39% |
2,925,000
+634,500
| +28% | +$12.7M |
|
|
14
BlackRock Credit Allocation Income Trust
BTZ
$935M
| $48.6M | 2.13% |
3,916,937
+2,168,019
| +124% | +$26M |
|
15
PUT
Ford
F
$59.3B
| $43.9M | 1.92% |
5,000,000
+2,500,000
| +100% | +$21.5M |
|
|
FSD
16
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
| $41.9M | 1.83% |
2,870,807
+915,063
| +47% | +$13.1M |
|
17
PUT
Bath & Body Works
BBWI
$4.02B
| $39.8M | 1.74% |
1,786,352
+1,019,412
| +133% | +$22.4M |
|
|
NHS
18
Neuberger High Yield Strategies Fund Inc
NHS
$252M
| $38.5M | 1.68% |
3,408,270
+1,698,347
| +99% | +$18.5M |
|
|
19
PUT
Qualcomm
QCOM
$159B
| $28.5M | 1.25% |
500,000
-500,000
| -50% | -$27M |
|
|
GHY
20
PGIM Global High Yield Fund
GHY
$476M
| $26.6M | 1.16% |
1,909,423
-443,054
| -19% | -$6.11M |
|
|
21
Qualcomm
QCOM
$159B
| $23.8M | 1.04% |
417,956
-326,810
| -44% | -$17.6M |
|
|
GPOR
22
PUT
DELISTED
Gulfport Energy Corp.
GPOR
| $23.5M | 1.03% |
+2,924,100
| New | +$23.3M |
|
|
ISD
23
PGIM High Yield Bond Fund
ISD
$415M
| $22.6M | 0.99% |
1,593,710
-16,220
| -1% | -$226K |
|
24
PUT
HSBC
HSBC
$367B
| $20.3M | 0.89% |
+505,952
| New | +$20.4M |
|
|
HOUS
25
PUT
DELISTED
Anywhere Real Estate
HOUS
| $17.9M | 0.78% |
1,565,900
-294,200
| -16% | -$4.53M |
|
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Saba Capital Management's Q1 2019 Portfolio in Review
As of Q1 2019, Saba Capital Management held 180 positions worth $2.29B, down 18% from $2.78B the previous quarter. Its ten largest holdings account for 55% of the portfolio.
Saba Capital Management withdrew a net $653M in Q1 2019, closing 66 positions and reducing 42 holdings. Its most notable exit was Texas Instruments, an estimated $28.4M position sold in full.
By sector, the portfolio is most concentrated in Technology at 1% of assets, down from 2.8% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Saba Capital Management opened a new position in YPF worth $4.89M.
- Saba Capital Management's largest Q1 2019 buy was YPF: 348,770 shares worth $4.89M.
- Saba Capital Management added most to INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND in Q1 2019, an estimated $34M increase.
- Saba Capital Management's biggest Q1 2019 reduction was Allspring Income Opportunities Fund, cutting an estimated $39.9M.
- Saba Capital Management fully exited Texas Instruments in Q1 2019, selling an estimated $28.4M.
- Saba Capital Management's ten largest holdings make up 55% of its $2.29B portfolio in Q1 2019.
- Saba Capital Management opened 15 new positions and closed 66 in Q1 2019.
- Saba Capital Management's portfolio value fell 18% quarter-over-quarter to $2.29B.
Based on Saba Capital Management's 13F filing for Q1 2019, filed 15 May 2019.