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Saba Capital Management Portfolio holdings

AUM $3.62B
1-Year Est. Return 13%
This Fund
S&P 500
This Quarter Est. Return
+8.05%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$4.97B
AUM Growth
+$805M
Cap. Flow
+$407M
Cap. Flow %
8.19%
Top 10 Hldgs %
36.32%
Holding
612
New
38
Increased
118
Reduced
49
Closed
118

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$144M
2
ECAT icon
BlackRock ESG Capital Allocation Term Trust
ECAT
+$133M
3
BMEZ icon
BlackRock Health Sciences Trust II
BMEZ
+$118M
4
BSTZ icon
BlackRock Science and Technology Term Trust
BSTZ
+$50M
5
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$48.9M

Top Sells

Rank Stock Value
1
SABA
Saba Capital Income & Opportunities Fund II
SABA
+$89M
2
KMF
Kayne Anderson NextGen Energy & Infrastructure, Inc.
KMF
+$32.7M
3
FSCO
FS Credit Opportunities Corp
FSCO
+$22.5M
4
CEN
Center Coast Brookfield MLP & Energy Infrastructure Fund
CEN
+$15.1M
5
F icon
Ford
F
+$12.7M

Sector Composition

Rank Sector Weight
1 Financials 3.71%
2 Consumer Discretionary 0.93%
3 Industrials 0.4%
4 Technology 0.39%
5 Communication Services 0.18%
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
$388M 7.8%
24,048,629
+8,712,897
+57% +$133M
BTX
2
BlackRock Technology and Private Equity Term Trust
BTX
$957M
$321M 6.45%
43,759,402
+20,525,448
+88% +$144M
BMEZ icon
3
BlackRock Health Sciences Trust II
BMEZ
$957M
$246M 4.95%
16,786,838
+8,439,174
+101% +$118M
BCAT icon
4
BlackRock Capital Allocation Term Trust
BCAT
$1.6B
$204M 4.1%
13,623,622
+3,364,405
+33% +$48.9M
PDX
5
PIMCO Dynamic Income Strategy Fund
PDX
$957M
$144M 2.9%
7,034,522
+147,439
+2% +$2.9M
ADX icon
6
Adams Diversified Equity Fund
ADX
$3.17B
$134M 2.69%
7,564,945
+796,325
+12% +$13.5M
EMO
7
ClearBridge Energy Midstream Opportunity Fund
EMO
$1.06B
$105M 2.11%
3,007,117
+463,429
+18% +$15.1M
NAC icon
8
Nuveen California Quality Municipal Income Fund
NAC
$1.83B
$91.9M 1.85%
8,284,935
+1,533,925
+23% +$15.6M
CEM
9
DELISTED
ClearBridge MLP and Midstream Fund Inc.
CEM
$87.8M 1.77%
2,189,802
+509,745
+30% +$18.6M
UAL icon
10
PUT
United Airlines
UAL
$38.4B
$84.7M 1.7%
2,053,900
-2,360,700
-53% -$92.8M
MEGI
11
MainStay CBRE Global Infrastructure Megatrends Term Fund
MEGI
$786M
$70.1M 1.41%
5,400,075
+960,672
+22% +$11.5M
NXJ
12
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$65.4M 1.31%
5,549,349
+1,620,506
+41% +$17.8M
BFZ
13
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$61.3M 1.23%
5,094,028
+580,400
+13% +$6.29M
BSTZ icon
14
BlackRock Science and Technology Term Trust
BSTZ
$1.97B
$59.5M 1.2%
3,559,039
+3,092,054
+662% +$50M
AMD icon
15
PUT
Advanced Micro Devices
AMD
$851B
$59M 1.19%
400,000
– –
CHTR icon
16
PUT
Charter Communications
CHTR
$14.7B
$58.7M 1.18%
151,000
+8,400
+6% +$3.43M
NMAI icon
17
Nuveen Multi-Asset Income Fund
NMAI
$460M
$58.1M 1.17%
4,720,658
+531,431
+13% +$6.08M
AAL icon
18
PUT
American Airlines Group
AAL
$9.58B
$55.5M 1.12%
4,036,100
-1,532,400
-28% -$19.2M
X
19
PUT
DELISTED
US Steel
X
$52.4M 1.05%
1,076,600
+8,600
+0.8% +$313K
NQP
20
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$51.7M 1.04%
4,465,947
+1,299,514
+41% +$13.8M
ASA
21
ASA Gold and Precious Metals
ASA
$948M
$49M 0.99%
3,253,837
+1,465,417
+82% +$20.8M
JWN
22
PUT
DELISTED
Nordstrom
JWN
$47.9M 0.96%
+2,598,300
New +$39.9M
CAR icon
23
PUT
Avis
CAR
$5.63B
$47.3M 0.95%
+266,700
New +$48.6M
MUC icon
24
BlackRock MuniHoldings California Quality Fund
MUC
$1B
$46.4M 0.93%
4,167,791
+293,605
+8% +$2.98M
NBXG
25
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.18B
$45.3M 0.91%
4,143,339
+186,457
+5% +$1.94M
1
2 3 4 5

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WB
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GCM
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JFG
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SPC
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Saba Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Saba Capital Management held 612 positions worth $4.97B, up 19% from $4.17B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Saba Capital Management deployed $407M of net new capital in Q4 2023, opening 38 new positions and adding to 118 existing holdings. Its largest new stake was Gabelli Dividend & Income Trust: 972,846 shares worth $21.1M.

By sector, the portfolio is most concentrated in Financials at 3.7% of assets, down from 5.9% 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 $89M trimmed.

  • Saba Capital Management's largest Q4 2023 buy was Gabelli Dividend & Income Trust: 972,846 shares worth $21.1M.
  • Saba Capital Management added most to BlackRock Technology and Private Equity Term Trust in Q4 2023, an estimated $144M increase.
  • Saba Capital Management's biggest Q4 2023 reduction was Saba Capital Income & Opportunities Fund II, cutting an estimated $89M.
  • Saba Capital Management fully exited Kayne Anderson NextGen Energy & Infrastructure, Inc. in Q4 2023, selling an estimated $32.7M.
  • Saba Capital Management's ten largest holdings make up 36% of its $4.97B portfolio in Q4 2023.
  • Saba Capital Management opened 38 new positions and closed 118 in Q4 2023.
  • Saba Capital Management's portfolio value rose 19% quarter-over-quarter to $4.97B.

Based on Saba Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.