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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
+2.55%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$7.39B
AUM Growth
-$1.48B
Cap. Flow
-$1.73B
Cap. Flow %
-23.47%
Top 10 Hldgs %
17.59%
Holding
1,203
New
78
Increased
140
Reduced
56
Closed
281

Top Buys

Rank Stock Value
1
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$43.8M
2
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$43.6M
3
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$40M
4
BMEZ icon
BlackRock Health Sciences Trust II
BMEZ
+$38.2M
5
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$35.4M

Top Sells

Rank Stock Value
1
KAHC
KKR Acquisition Holdings I Corp.
KAHC
+$57.1M
2
GSEV
Gores Holdings VII, Inc. Class A Common Stock
GSEV
+$43.4M
3
EPHY
Epiphany Technology Acquisition Corp. Class A Common Stock
EPHY
+$39.2M
4
NSTB
Northern Star Investment Corp. II
NSTB
+$37.6M
5
VFL
abrdn National Municipal Income Fund
VFL
+$37.2M

Sector Composition

Rank Sector Weight
1 Financials 43.95%
2 Technology 5.33%
3 Industrials 3.5%
4 Healthcare 3.24%
5 Consumer Discretionary 1.5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AAL icon
1
PUT
American Airlines Group
AAL
$10.2B
$232M 3.14%
18,225,400
-2,003,500
-10% -$27.2M
TDG icon
2
PUT
TransDigm Group
TDG
$69.9B
$200M 2.71%
318,400
-46,000
-13% -$27.1M
SABA
3
Saba Capital Income & Opportunities Fund II
SABA
$223M
$167M 2.26%
19,268,907
+756,140
+4% +$6.35M
COOP
4
PUT
DELISTED
Mr. Cooper
COOP
$144M 1.94%
3,581,200
+790,900
+28% +$33.4M
POST icon
5
PUT
Post Holdings
POST
$4.21B
$136M 1.84%
1,504,100
-200,700
-12% -$17.9M
PFSI icon
6
PUT
PennyMac Financial
PFSI
$3.94B
$120M 1.63%
2,125,400
+124,500
+6% +$6.59M
ECAT icon
7
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.5B
$89.9M 1.22%
6,692,747
+3,190,120
+91% +$43.6M
NRG icon
8
PUT
NRG Energy
NRG
$28.3B
$83.9M 1.14%
2,638,000
-289,500
-10% -$11.5M
D icon
9
PUT
Dominion Energy
D
$61.3B
$68.1M 0.92%
+1,110,800
New +$69.8M
BCAT icon
10
BlackRock Capital Allocation Term Trust
BCAT
$1.64B
$58.6M 0.79%
4,226,095
+3,099,777
+275% +$43.8M
ADI icon
11
PUT
Analog Devices
ADI
$179B
$57.4M 0.78%
350,000
– –
EMO
12
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.01B
$54M 0.73%
1,889,327
+596,825
+46% +$17.2M
PDX
13
PIMCO Dynamic Income Strategy Fund
PDX
$945M
$49.4M 0.67%
3,308,441
+1,079,756
+48% +$16.4M
HERA
14
DELISTED
FTAC Hera Acquisition Corp. Class A Ordinary Shares
HERA
$45.5M 0.62%
4,496,658
– –
XOM icon
15
PUT
ExxonMobil
XOM
$651B
$44.1M 0.6%
400,000
– –
BTX
16
BlackRock Technology and Private Equity Term Trust
BTX
$922M
$43.3M 0.59%
6,354,411
+4,960,391
+356% +$35.4M
CSCO icon
17
PUT
Cisco
CSCO
$448B
$42.9M 0.58%
900,000
– –
BSX icon
18
PUT
Boston Scientific
BSX
$68.4B
$42.1M 0.57%
910,000
– –
HYG icon
19
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$39.9M 0.54%
+542,070
New +$40M
BMEZ icon
20
BlackRock Health Sciences Trust II
BMEZ
$975M
$38.1M 0.52%
+2,468,311
New +$38.2M
NML
21
Neuberger Energy Infrastructure and Income Fund Inc
NML
$583M
$37.3M 0.51%
5,607,024
– –
BCSA
22
DELISTED
Blockchain Coinvestors Acquisition Corp. I Class A Ordinary Shares
BCSA
$36.4M 0.49%
3,545,544
– –
ZING
23
DELISTED
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
$36M 0.49%
3,570,365
– –
MAR icon
24
PUT
Marriott International
MAR
$99B
$35.7M 0.48%
240,000
– –
FSNB
25
DELISTED
Fusion Acquisition Corp. II
FSNB
$34.8M 0.47%
3,461,326
– –
1
2 3 4 5

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Saba Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Saba Capital Management held 1,203 positions worth $7.39B, down 17% from $8.87B the previous quarter. Its ten largest holdings account for 18% of the portfolio.

Saba Capital Management withdrew a net $1.73B in Q4 2022, closing 281 positions and reducing 56 holdings. Its most notable exit was KKR Acquisition Holdings I Corp., an estimated $57.1M position sold in full.

By sector, the portfolio is most concentrated in Financials at 44% of assets, down from 57% a quarter earlier, followed by Technology and Industrials.

Against the trend, Saba Capital Management opened a new position in iShares iBoxx $ High Yield Corporate Bond ETF worth $39.9M.

  • Saba Capital Management's largest Q4 2022 buy was iShares iBoxx $ High Yield Corporate Bond ETF: 542,070 shares worth $39.9M.
  • Saba Capital Management added most to BlackRock Capital Allocation Term Trust in Q4 2022, an estimated $43.8M increase.
  • Saba Capital Management's biggest Q4 2022 reduction was Analog Devices, cutting an estimated $20.4M.
  • Saba Capital Management fully exited KKR Acquisition Holdings I Corp. in Q4 2022, selling an estimated $57.1M.
  • Saba Capital Management's ten largest holdings make up 18% of its $7.39B portfolio in Q4 2022.
  • Saba Capital Management opened 78 new positions and closed 281 in Q4 2022.
  • Saba Capital Management's portfolio value fell 17% quarter-over-quarter to $7.39B.

Based on Saba Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.