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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
-3.79%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$4.27B
AUM Growth
-$530M
Cap. Flow
-$408M
Cap. Flow %
-9.56%
Top 10 Hldgs %
53.58%
Holding
370
New
14
Increased
54
Reduced
78
Closed
84

Top Buys

Rank Stock Value
1
BTX
BlackRock Technology and Private Equity Term Trust
BTX
+$33.6M
2
TYG
Tortoise Energy Infrastructure Corp
TYG
+$24.1M
3
GAM
General American Investors Company
GAM
+$23M
4
CNNE icon
Cannae Holdings
CNNE
+$21.3M
5
GDV icon
Gabelli Dividend & Income Trust
GDV
+$19.8M

Top Sells

Rank Stock Value
1
VMO icon
Invesco Municipal Opportunity Trust
VMO
+$40.2M
2
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$40.2M
3
NAC icon
Nuveen California Quality Municipal Income Fund
NAC
+$34M
4
VTN icon
Invesco Trust for Investment Grade New York Municipals
VTN
+$28.7M
5
VPV icon
Invesco Pennsylvania Value Municipal Income Trust
VPV
+$26.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 1.37%
2 Communication Services 1.12%
3 Technology 0.81%
4 Financials 0.81%
5 Industrials 0.45%
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
$468M 10.97%
28,552,727
– –
BTX
2
BlackRock Technology and Private Equity Term Trust
BTX
$922M
$448M 10.49%
60,156,126
+4,361,522
+8% +$33.6M
BMEZ icon
3
BlackRock Health Sciences Trust II
BMEZ
$975M
$299M 7%
20,750,913
+89,523
+0.4% +$1.39M
BCAT icon
4
BlackRock Capital Allocation Term Trust
BCAT
$1.64B
$206M 4.83%
13,617,277
-2,497,496
-15% -$40.2M
AAL icon
5
PUT
American Airlines Group
AAL
$10.2B
$195M 4.58%
11,202,300
– –
PDX
6
PIMCO Dynamic Income Strategy Fund
PDX
$945M
$178M 4.17%
6,810,213
+535,290
+9% +$13.4M
GDV icon
7
Gabelli Dividend & Income Trust
GDV
$2.6B
$147M 3.45%
6,097,170
+801,838
+15% +$19.8M
BSTZ icon
8
BlackRock Science and Technology Term Trust
BSTZ
$1.92B
$132M 3.1%
6,392,699
-310,911
-5% -$6.41M
ADX icon
9
Adams Diversified Equity Fund
ADX
$3.09B
$110M 2.57%
5,428,866
-993,832
-15% -$21.2M
NFJ
10
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.41B
$103M 2.42%
8,165,612
+777,052
+11% +$9.99M
NBXG
11
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.15B
$87.3M 2.05%
6,853,330
+234,671
+4% +$3.05M
GAM
12
General American Investors Company
GAM
$1.55B
$74.7M 1.75%
1,464,300
+437,632
+43% +$23M
MEGI
13
MainStay CBRE Global Infrastructure Megatrends Term Fund
MEGI
$800M
$70.3M 1.65%
5,775,813
+45,534
+0.8% +$620K
ASA
14
ASA Gold and Precious Metals
ASA
$955M
$65.8M 1.54%
3,253,837
– –
NXJ
15
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$64.2M 1.5%
5,273,228
-706,370
-12% -$8.83M
JWN
16
PUT
DELISTED
Nordstrom
JWN
$64M 1.5%
2,649,900
– –
PEO
17
Adams Natural Resources Fund
PEO
$742M
$62.8M 1.47%
2,888,947
-113,997
-4% -$2.6M
BFZ
18
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$58.2M 1.36%
5,200,088
-39,480
-0.8% -$463K
NQP
19
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$56.6M 1.33%
5,058,973
-111,626
-2% -$1.33M
ASGI
20
abrdn Global Infrastructure Income Fund
ASGI
$753M
$45.1M 1.06%
2,573,115
-384,634
-13% -$7.46M
HQL
21
abrdn Life Sciences Investors
HQL
$584M
$45M 1.05%
3,430,023
+32
+0% +$462
CNNE icon
22
Cannae Holdings
CNNE
$646M
$44.1M 1.03%
2,219,230
+1,065,083
+92% +$21.3M
TYG
23
Tortoise Energy Infrastructure Corp
TYG
$1.09B
$44.1M 1.03%
1,048,879
+569,441
+119% +$24.1M
NMAI icon
24
Nuveen Multi-Asset Income Fund
NMAI
$461M
$43.3M 1.02%
3,599,625
-935,009
-21% -$11.8M
MHI
25
DELISTED
Pioneer Municipal High Income Fund
MHI
$38M 0.89%
4,107,961
+494,847
+14% +$4.68M
1
2 3 4 5

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GCM
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VI
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JFG
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SPC
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OCM
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Saba Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Saba Capital Management held 370 positions worth $4.27B, down 11% from $4.8B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Saba Capital Management withdrew a net $408M in Q4 2024, closing 84 positions and reducing 78 holdings. Its most notable exit was Nuveen California Quality Municipal Income Fund, an estimated $34M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 1.4% of assets, up from 0.85% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Saba Capital Management opened a new position in Merlin Inc worth $12.1M.

  • Saba Capital Management's largest Q4 2024 buy was Merlin Inc: 1,224,823 shares worth $12.1M.
  • Saba Capital Management added most to BlackRock Technology and Private Equity Term Trust in Q4 2024, an estimated $33.6M increase.
  • Saba Capital Management's biggest Q4 2024 reduction was Invesco Municipal Opportunity Trust, cutting an estimated $40.2M.
  • Saba Capital Management fully exited Nuveen California Quality Municipal Income Fund in Q4 2024, selling an estimated $34M.
  • Saba Capital Management's ten largest holdings make up 54% of its $4.27B portfolio in Q4 2024.
  • Saba Capital Management opened 14 new positions and closed 84 in Q4 2024.
  • Saba Capital Management's portfolio value fell 11% quarter-over-quarter to $4.27B.

Based on Saba Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.