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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
+3.86%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$5.24B
AUM Growth
-$2.15B
Cap. Flow
-$2.37B
Cap. Flow %
-45.31%
Top 10 Hldgs %
21.94%
Holding
1,000
New
76
Increased
83
Reduced
101
Closed
236

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$52.7M
2
ADX icon
Adams Diversified Equity Fund
ADX
+$44.1M
3
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$42.2M
4
BMEZ icon
BlackRock Health Sciences Trust II
BMEZ
+$32.3M
5
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$25.2M

Top Sells

Rank Stock Value
1
HERA
FTAC Hera Acquisition Corp. Class A Ordinary Shares
HERA
+$45.5M
2
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$40.6M
3
BCSA
Blockchain Coinvestors Acquisition Corp. I Class A Ordinary Shares
BCSA
+$36.4M
4
FSNB
Fusion Acquisition Corp. II
FSNB
+$34.8M
5
PTOC
Pine Technology Acquisition Corp. Class A Common Stock
PTOC
+$34M

Sector Composition

Rank Sector Weight
1 Financials 32.07%
2 Industrials 3.09%
3 Technology 2.81%
4 Consumer Discretionary 1.8%
5 Healthcare 1.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TDG icon
1
PUT
TransDigm Group
TDG
$69.2B
$185M 3.54%
251,600
-66,800
-21% -$47.7M
SABA
2
Saba Capital Income & Opportunities Fund II
SABA
$220M
$170M 3.24%
19,298,907
+30,000
+0.2% +$260K
ECAT icon
3
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.5B
$150M 2.86%
9,585,864
+2,893,117
+43% +$42.2M
AAL icon
4
PUT
American Airlines Group
AAL
$9.58B
$117M 2.24%
7,960,900
-10,264,500
-56% -$160M
COOP
5
PUT
DELISTED
Mr. Cooper
COOP
$114M 2.17%
2,777,700
-803,500
-22% -$35.2M
BTX
6
BlackRock Technology and Private Equity Term Trust
BTX
$957M
$108M 2.06%
13,430,253
+7,075,842
+111% +$52.7M
BCAT icon
7
BlackRock Capital Allocation Term Trust
BCAT
$1.6B
$89.7M 1.71%
5,927,241
+1,701,146
+40% +$25.2M
BMEZ icon
8
BlackRock Health Sciences Trust II
BMEZ
$957M
$74.8M 1.43%
4,476,684
+2,008,373
+81% +$32.3M
PFSI icon
9
PUT
PennyMac Financial
PFSI
$4.38B
$71.9M 1.37%
1,205,800
-919,600
-43% -$56.9M
UAL icon
10
PUT
United Airlines
UAL
$38.4B
$69.1M 1.32%
+1,562,000
New +$74.8M
PDX
11
PIMCO Dynamic Income Strategy Fund
PDX
$957M
$64.6M 1.23%
4,424,926
+1,116,485
+34% +$16.9M
NRG icon
12
PUT
NRG Energy
NRG
$29.8B
$63.3M 1.21%
1,846,400
-791,600
-30% -$26.2M
CHTR icon
13
PUT
Charter Communications
CHTR
$14.7B
$60M 1.14%
+167,700
New +$62.6M
EMO
14
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.06B
$58.5M 1.12%
2,072,993
+183,666
+10% +$5.38M
ADX icon
15
Adams Diversified Equity Fund
ADX
$3.17B
$45M 0.86%
+2,895,323
New +$44.1M
POST icon
16
PUT
Post Holdings
POST
$4.12B
$43.2M 0.83%
481,200
-1,022,900
-68% -$93M
AMAT icon
17
PUT
Applied Materials
AMAT
$426B
$43M 0.82%
350,000
+200,000
+133% +$23M
MEGI
18
MainStay CBRE Global Infrastructure Megatrends Term Fund
MEGI
$786M
$42.9M 0.82%
3,019,503
+588,847
+24% +$8.51M
BFZ
19
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$41.3M 0.79%
3,526,322
+457,998
+15% +$5.16M
NBXG
20
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.18B
$41M 0.78%
3,940,479
+354,737
+10% +$3.52M
AMD icon
21
PUT
Advanced Micro Devices
AMD
$851B
$39.2M 0.75%
+400,000
New +$32.6M
CEM
22
DELISTED
ClearBridge MLP and Midstream Fund Inc.
CEM
$38.8M 0.74%
1,199,377
+276,493
+30% +$9.45M
GT icon
23
PUT
Goodyear
GT
$2.07B
$36.8M 0.7%
+3,342,100
New +$37.1M
NML
24
Neuberger Energy Infrastructure and Income Fund Inc
NML
$607M
$36.2M 0.69%
5,513,493
-93,531
-2% -$646K
KMF
25
DELISTED
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
$35.4M 0.68%
4,606,548
+610,103
+15% +$4.56M
1
2 3 4 5

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Saba Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Saba Capital Management held 1,000 positions worth $5.24B, down 29% from $7.39B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Saba Capital Management withdrew a net $2.37B in Q1 2023, closing 236 positions and reducing 101 holdings. Its most notable exit was FTAC Hera Acquisition Corp. Class A Ordinary Shares, an estimated $45.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 32% of assets, down from 44% a quarter earlier, followed by Industrials and Technology.

Against the trend, Saba Capital Management opened a new position in Adams Diversified Equity Fund worth $45M.

  • Saba Capital Management's largest Q1 2023 buy was Adams Diversified Equity Fund: 2,895,323 shares worth $45M.
  • Saba Capital Management added most to BlackRock Technology and Private Equity Term Trust in Q1 2023, an estimated $52.7M increase.
  • Saba Capital Management's biggest Q1 2023 reduction was Ares Acquisition Corporation, cutting an estimated $27.3M.
  • Saba Capital Management fully exited FTAC Hera Acquisition Corp. Class A Ordinary Shares in Q1 2023, selling an estimated $45.5M.
  • Saba Capital Management's ten largest holdings make up 22% of its $5.24B portfolio in Q1 2023.
  • Saba Capital Management opened 76 new positions and closed 236 in Q1 2023.
  • Saba Capital Management's portfolio value fell 29% quarter-over-quarter to $5.24B.

Based on Saba Capital Management's 13F filing for Q1 2023, filed 15 May 2023.