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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
+0.31%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$2.15B
AUM Growth
-$192M
Cap. Flow
-$82.3M
Cap. Flow %
-3.82%
Top 10 Hldgs %
51.04%
Holding
120
New
10
Increased
30
Reduced
37
Closed
26

Top Buys

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$13.1M
2
EFT
Eaton Vance Floating-Rate Income Trust
EFT
+$12.8M
3
EVV
Eaton Vance Limited Duration Income Fund
EVV
+$12M
4
MHN
BlackRock MuniHoldings New Yrok Quality Fund
MHN
+$9.62M
5
EFF
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
+$9.33M

Top Sells

Rank Stock Value
1
JQC icon
Nuveen Credit Strategies Income Fund
JQC
+$46.5M
2
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$11.9M
3
NTC
Nuveen Connecticut Quality Municipal Income Fund
NTC
+$5.44M
4
ISD
PGIM High Yield Bond Fund
ISD
+$5.24M
5
IVH
Delaware Ivy High Income Opportunities Fund
IVH
+$5.14M

Sector Composition

Rank Sector Weight
1 Healthcare 0.97%
2 Energy 0.17%
3 Real Estate 0.07%
4 Technology 0.06%
5 Industrials 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
1
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
$391M 18.17%
4,490,300
+702,200
+19% +$61M
VVR icon
2
Invesco Senior Income Trust
VVR
$456M
$91.7M 4.26%
21,826,069
– –
EVV
3
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
$86.9M 4.03%
6,948,234
+952,764
+16% +$12M
VTA
4
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$81.3M 3.77%
7,381,007
– –
YPF icon
5
PUT
YPF
YPF
$20.2B
$79.5M 3.69%
9,090,604
-1,057,296
-10% -$13.6M
HIO
6
Western Asset High Income Opportunity Fund
HIO
$335M
$77.9M 3.61%
15,418,700
– –
EHI
7
Western Asset Global High Income Fund
EHI
$175M
$77.8M 3.61%
7,830,384
– –
BRW
8
Saba Capital Income & Opportunities Fund
BRW
$336M
$76.7M 3.56%
8,140,294
+1,387,368
+21% +$13.1M
HIX
9
Western Asset High Income Fund II
HIX
$352M
$74M 3.44%
10,917,027
– –
CNX icon
10
PUT
CNX Resources
CNX
$4.85B
$62.3M 2.89%
8,581,400
+790,900
+10% +$5.92M
BTZ icon
11
BlackRock Credit Allocation Income Trust
BTZ
$927M
$62.2M 2.89%
4,568,125
-887,436
-16% -$11.9M
JQC icon
12
Nuveen Credit Strategies Income Fund
JQC
$702M
$60.7M 2.82%
8,111,271
-6,101,382
-43% -$46.5M
NHS
13
Neuberger High Yield Strategies Fund Inc
NHS
$252M
$45.5M 2.11%
3,766,921
– –
FSD
14
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
$45.3M 2.1%
2,985,625
-326,976
-10% -$4.88M
GEO icon
15
PUT
The GEO Group
GEO
$4.13B
$37.1M 1.72%
2,138,200
+625,700
+41% +$11.2M
TDG icon
16
PUT
TransDigm Group
TDG
$69.2B
$36.4M 1.69%
70,000
-200,000
-74% -$103M
UBER icon
17
PUT
Uber
UBER
$134B
$32.9M 1.53%
+1,081,000
New +$40.7M
BBWI icon
18
PUT
Bath & Body Works
BBWI
$4.01B
$31.3M 1.46%
1,979,200
+185,303
+10% +$3.27M
NRK icon
19
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$900M
$31.2M 1.45%
2,315,058
+58,073
+3% +$777K
NQP
20
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$29.3M 1.36%
2,090,154
-234,664
-10% -$3.28M
EFT
21
Eaton Vance Floating-Rate Income Trust
EFT
$283M
$28.3M 1.31%
2,139,122
+961,270
+82% +$12.8M
JGH icon
22
Nuveen Global High Income Fund
JGH
$348M
$27.8M 1.29%
1,784,024
+246,680
+16% +$3.78M
FCT
23
First Trust Senior Floating Rate Income Fund II
FCT
$251M
$27.4M 1.27%
2,279,549
+332,939
+17% +$3.96M
FRA icon
24
BlackRock Floating Rate Income Strategies Fund
FRA
$381M
$27.3M 1.27%
2,165,061
-930
-0% -$11.8K
NUO
25
DELISTED
Nuveen Ohio Quality Municipal Income Fund
NUO
$27.2M 1.26%
1,723,307
+522,250
+43% +$8.06M
1
2 3 4 5

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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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U
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SPC
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Saba Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Saba Capital Management held 120 positions worth $2.15B, down 8.2% from $2.35B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Saba Capital Management withdrew a net $82.3M in Q3 2019, closing 26 positions and reducing 37 holdings. Its most notable exit was VanEck Oil Services ETF, an estimated $5.12M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 0.97% of assets, up from 0.68% a quarter earlier, followed by Energy and Real Estate.

Against the trend, Saba Capital Management opened a new position in Peabody Energy worth $2.58M.

  • Saba Capital Management's largest Q3 2019 buy was Peabody Energy: 175,000 shares worth $2.58M.
  • Saba Capital Management added most to Saba Capital Income & Opportunities Fund in Q3 2019, an estimated $13.1M increase.
  • Saba Capital Management's biggest Q3 2019 reduction was Nuveen Credit Strategies Income Fund, cutting an estimated $46.5M.
  • Saba Capital Management fully exited VanEck Oil Services ETF in Q3 2019, selling an estimated $5.12M.
  • Saba Capital Management's ten largest holdings make up 51% of its $2.15B portfolio in Q3 2019.
  • Saba Capital Management opened 10 new positions and closed 26 in Q3 2019.
  • Saba Capital Management's portfolio value fell 8.2% quarter-over-quarter to $2.15B.

Based on Saba Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.