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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
+2.89%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$2.11B
AUM Growth
-$46.5M
Cap. Flow
-$144M
Cap. Flow %
-6.81%
Top 10 Hldgs %
53.64%
Holding
106
New
12
Increased
26
Reduced
39
Closed
15

Top Buys

Rank Stock Value
1
BRW
Saba Capital Income & Opportunities Fund
BRW
+$46.5M
2
BWG
BrandywineGLOBAL Global Income Opportunities Fund
BWG
+$5.79M
3
NSL
NUVEEN SENIOR INCM FD
NSL
+$5.69M
4
EFF
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
+$5.3M
5
PHD
Pioneer Floating Rate Fund
PHD
+$4.47M

Top Sells

Rank Stock Value
1
BTZ icon
BlackRock Credit Allocation Income Trust
BTZ
+$55.1M
2
JQC icon
Nuveen Credit Strategies Income Fund
JQC
+$36.8M
3
VTA
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
+$36.1M
4
VVR icon
Invesco Senior Income Trust
VVR
+$31.8M
5
FSD
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
+$19.4M

Sector Composition

Rank Sector Weight
1 Healthcare 0.55%
2 Industrials 0.15%
3 Energy 0.1%
4 Consumer Staples 0.03%
5 Real Estate 0%
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
$325M 15.44%
3,700,000
-790,300
-18% -$68.8M
BRW
2
Saba Capital Income & Opportunities Fund
BRW
$336M
$130M 6.16%
12,957,204
+4,816,910
+59% +$46.5M
UBER icon
3
PUT
Uber
UBER
$134B
$129M 6.11%
4,329,100
+3,248,100
+300% +$96.4M
YPF icon
4
PUT
YPF
YPF
$20.2B
$94.9M 4.5%
8,194,500
-896,104
-10% -$8.69M
EVV
5
Eaton Vance Limited Duration Income Fund
EVV
$1.06B
$87.2M 4.14%
6,580,946
-367,288
-5% -$4.71M
CNX icon
6
PUT
CNX Resources
CNX
$4.85B
$84.3M 4%
9,530,000
+948,600
+11% +$7.4M
EHI
7
Western Asset Global High Income Fund
EHI
$175M
$78.5M 3.72%
7,830,384
– –
HIO
8
Western Asset High Income Opportunity Fund
HIO
$335M
$78.2M 3.71%
15,418,700
– –
HIX
9
Western Asset High Income Fund II
HIX
$352M
$62.5M 2.97%
9,279,685
-1,637,342
-15% -$11M
VVR icon
10
Invesco Senior Income Trust
VVR
$456M
$60.9M 2.89%
14,199,032
-7,627,037
-35% -$31.8M
CNXM
11
PUT
DELISTED
CNX Midstream Partners LP
CNXM
$49.2M 2.33%
2,987,600
+1,798,600
+151% +$25.9M
VTA
12
DELISTED
INVESCO DYNAMIC CREDIT OPPORTUNITIES FUND
VTA
$46.7M 2.22%
4,118,831
-3,262,176
-44% -$36.1M
NHS
13
Neuberger High Yield Strategies Fund Inc
NHS
$252M
$46.5M 2.21%
3,766,921
– –
GEO icon
14
PUT
The GEO Group
GEO
$4.13B
$36.4M 1.73%
2,189,800
+51,600
+2% +$783K
GEL icon
15
PUT
Genesis Energy
GEL
$1.84B
$32.5M 1.54%
1,586,600
+971,400
+158% +$19.6M
GRUB
16
PUT
DELISTED
Just Eat Takeaway.com N.V. American Depositary Shares
GRUB
$31.6M 1.5%
+325,000
New +$29.8M
FRA icon
17
BlackRock Floating Rate Income Strategies Fund
FRA
$381M
$31.2M 1.48%
2,323,943
+158,882
+7% +$2.05M
EFT
18
Eaton Vance Floating-Rate Income Trust
EFT
$283M
$31.1M 1.48%
2,267,757
+128,635
+6% +$1.72M
NGL icon
19
PUT
NGL Energy Partners
NGL
$1.94B
$31M 1.47%
+2,735,700
New +$30.5M
PHD
20
DELISTED
Pioneer Floating Rate Fund
PHD
$31M 1.47%
2,823,285
+423,548
+18% +$4.47M
BBWI icon
21
PUT
Bath & Body Works
BBWI
$4.01B
$29.1M 1.38%
1,985,385
+6,185
+0.3% +$89.3K
NRK icon
22
Nuveen New York AMT-Free Quality Municipal Income Fund
NRK
$900M
$28.9M 1.37%
2,127,946
-187,112
-8% -$2.51M
NQP
23
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$28M 1.33%
1,975,335
-114,819
-5% -$1.62M
FCT
24
First Trust Senior Floating Rate Income Fund II
FCT
$251M
$27.9M 1.33%
2,226,674
-52,875
-2% -$639K
FSD
25
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
$27.2M 1.29%
1,725,740
-1,259,885
-42% -$19.4M
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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SPC
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Saba Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Saba Capital Management held 106 positions worth $2.11B, down 2.2% from $2.15B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Saba Capital Management withdrew a net $144M in Q4 2019, closing 15 positions and reducing 39 holdings. Its most notable exit was DTF Tax-Free Income 2028 Term Fund, an estimated $12.1M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 0.55% of assets, down from 0.97% a quarter earlier, followed by Industrials and Energy.

Against the trend, Saba Capital Management opened a new position in NUVEEN SENIOR INCM FD worth $5.92M.

  • Saba Capital Management's largest Q4 2019 buy was NUVEEN SENIOR INCM FD: 993,958 shares worth $5.92M.
  • Saba Capital Management added most to Saba Capital Income & Opportunities Fund in Q4 2019, an estimated $46.5M increase.
  • Saba Capital Management's biggest Q4 2019 reduction was BlackRock Credit Allocation Income Trust, cutting an estimated $55.1M.
  • Saba Capital Management fully exited DTF Tax-Free Income 2028 Term Fund in Q4 2019, selling an estimated $12.1M.
  • Saba Capital Management's ten largest holdings make up 54% of its $2.11B portfolio in Q4 2019.
  • Saba Capital Management opened 12 new positions and closed 15 in Q4 2019.
  • Saba Capital Management's portfolio value fell 2.2% quarter-over-quarter to $2.11B.

Based on Saba Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.