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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
-3.71%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$4.17B
AUM Growth
+$325M
Cap. Flow
+$544M
Cap. Flow %
13.06%
Top 10 Hldgs %
34.08%
Holding
670
New
43
Increased
119
Reduced
67
Closed
97

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$42.9M
2
ADX icon
Adams Diversified Equity Fund
ADX
+$40.8M
3
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$32M
4
PDX
PIMCO Dynamic Income Strategy Fund
PDX
+$30.2M
5
NEA icon
Nuveen AMT-Free Quality Municipal Income Fund
NEA
+$29.1M

Top Sells

Rank Stock Value
1
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$29.1M
2
GER
Goldman Sachs MLP Energy Renaissance Fund
GER
+$27.2M
3
ZING
FTAC Zeus Acquisition Corp. Class A Common Stock
ZING
+$21.5M
4
ESTE
Earthstone Energy Inc. Class A Common Stock
ESTE
+$15.4M
5
IRRX
Integrated Rail and Resources Acquisition Corp.
IRRX
+$15.2M

Sector Composition

Rank Sector Weight
1 Financials 5.94%
2 Consumer Discretionary 1.01%
3 Industrials 0.95%
4 Technology 0.77%
5 Materials 0.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ECAT icon
1
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.5B
$227M 5.44%
15,335,732
+2,077,944
+16% +$32M
UAL icon
2
PUT
United Airlines
UAL
$38.4B
$187M 4.48%
4,414,600
+1,407,300
+47% +$71.2M
BTX
3
BlackRock Technology and Private Equity Term Trust
BTX
$957M
$162M 3.88%
23,233,954
+5,626,581
+32% +$42.9M
BCAT icon
4
BlackRock Capital Allocation Term Trust
BCAT
$1.6B
$149M 3.57%
10,259,217
+1,507,756
+17% +$22.5M
PDX
5
PIMCO Dynamic Income Strategy Fund
PDX
$957M
$137M 3.28%
6,887,083
+1,793,423
+35% +$30.2M
F icon
6
PUT
Ford
F
$57.3B
$124M 2.98%
+10,000,000
New +$130M
SABA
7
Saba Capital Income & Opportunities Fund II
SABA
$220M
$122M 2.92%
15,763,281
-3,535,626
-18% -$29.1M
BMEZ icon
8
BlackRock Health Sciences Trust II
BMEZ
$957M
$120M 2.89%
8,347,664
+1,827,094
+28% +$28.5M
ADX icon
9
Adams Diversified Equity Fund
ADX
$3.17B
$113M 2.7%
6,768,620
+2,371,715
+54% +$40.8M
EMO
10
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.06B
$80.6M 1.94%
2,543,688
+278,098
+12% +$8.74M
AAL icon
11
PUT
American Airlines Group
AAL
$9.58B
$71.3M 1.71%
5,568,500
+2,460,700
+79% +$38.2M
BAC icon
12
PUT
Bank of America
BAC
$435B
$68.5M 1.64%
+2,500,000
New +$74M
NAC icon
13
Nuveen California Quality Municipal Income Fund
NAC
$1.83B
$65.1M 1.56%
6,751,010
+2,630,893
+64% +$27.6M
CHTR icon
14
PUT
Charter Communications
CHTR
$14.7B
$62.7M 1.51%
142,600
+5,300
+4% +$2.2M
CEM
15
DELISTED
ClearBridge MLP and Midstream Fund Inc.
CEM
$59.2M 1.42%
1,680,057
+248,594
+17% +$9.01M
MEGI
16
MainStay CBRE Global Infrastructure Megatrends Term Fund
MEGI
$786M
$52.3M 1.26%
4,439,403
+591,326
+15% +$7.87M
NMAI icon
17
Nuveen Multi-Asset Income Fund
NMAI
$460M
$46.6M 1.12%
4,189,227
+1,063,488
+34% +$12.5M
BFZ
18
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$46.4M 1.11%
4,513,628
+310,016
+7% +$3.5M
FSCO
19
FS Credit Opportunities Corp
FSCO
$989M
$42.9M 1.03%
7,907,125
+837,166
+12% +$4.32M
TDG icon
20
PUT
TransDigm Group
TDG
$69.2B
$42.7M 1.03%
50,700
-60,300
-54% -$52.9M
NXJ
21
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$41.6M 1%
3,928,843
+1,164,760
+42% +$13.1M
NBXG
22
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.18B
$41.2M 0.99%
3,956,882
– –
AMD icon
23
PUT
Advanced Micro Devices
AMD
$851B
$41.1M 0.99%
400,000
– –
PEO
24
Adams Natural Resources Fund
PEO
$759M
$37.8M 0.91%
1,698,977
+945,290
+125% +$20.5M
NML
25
Neuberger Energy Infrastructure and Income Fund Inc
NML
$607M
$37.6M 0.9%
5,463,481
– –
1
2 3 4 5

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Saba Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, Saba Capital Management held 670 positions worth $4.17B, up 8.5% from $3.84B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Saba Capital Management deployed $544M of net new capital in Q3 2023, opening 43 new positions and adding to 119 existing holdings. Its largest new stake was Ford: 1,022,934 shares worth $12.7M.

By sector, the portfolio is most concentrated in Financials at 5.9% of assets, down from 14% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Saba Capital Income & Opportunities Fund II, an estimated $29.1M trimmed.

  • Saba Capital Management's largest Q3 2023 buy was Ford: 1,022,934 shares worth $12.7M.
  • Saba Capital Management added most to BlackRock Technology and Private Equity Term Trust in Q3 2023, an estimated $42.9M increase.
  • Saba Capital Management's biggest Q3 2023 reduction was Saba Capital Income & Opportunities Fund II, cutting an estimated $29.1M.
  • Saba Capital Management fully exited Goldman Sachs MLP Energy Renaissance Fund in Q3 2023, selling an estimated $27.2M.
  • Saba Capital Management's ten largest holdings make up 34% of its $4.17B portfolio in Q3 2023.
  • Saba Capital Management opened 43 new positions and closed 97 in Q3 2023.
  • Saba Capital Management's portfolio value rose 8.5% quarter-over-quarter to $4.17B.

Based on Saba Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.