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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
-2.02%
1 Year Est. Return
+13%
3 Year Est. Return
+26.53%
5 Year Est. Return
+34.79%
10 Year Est. Return
+47.28%
AUM
$3.7B
AUM Growth
-$569M
Cap. Flow
-$423M
Cap. Flow %
-11.43%
Top 10 Hldgs %
54.61%
Holding
311
New
26
Increased
54
Reduced
58
Closed
41

Top Buys

Rank Stock Value
1
EVTL icon
Vertical Aerospace
EVTL
+$23.5M
2
PDX
PIMCO Dynamic Income Strategy Fund
PDX
+$18.7M
3
BMBL icon
Bumble
BMBL
+$11M
4
NBXG
Neuberger Next Generation Connectivity Fund Inc
NBXG
+$10.6M
5
DAL icon
Delta Air Lines
DAL
+$8.2M

Top Sells

Rank Stock Value
1
BSTZ icon
BlackRock Science and Technology Term Trust
BSTZ
+$30.3M
2
ASGI
abrdn Global Infrastructure Income Fund
ASGI
+$28.6M
3
BCAT icon
BlackRock Capital Allocation Term Trust
BCAT
+$27.6M
4
VMO icon
Invesco Municipal Opportunity Trust
VMO
+$21.2M
5
AOD
abrdn Total Dynamic Dividend Fund
AOD
+$20.1M

Sector Composition

Rank Sector Weight
1 Communication Services 1.37%
2 Consumer Discretionary 1.37%
3 Technology 0.98%
4 Industrials 0.76%
5 Financials 0.69%
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
$451M 12.2%
28,605,041
+52,314
+0.2% +$865K
BTX
2
BlackRock Technology and Private Equity Term Trust
BTX
$957M
$380M 10.27%
60,675,395
+519,269
+0.9% +$3.86M
BMEZ icon
3
BlackRock Health Sciences Trust II
BMEZ
$957M
$309M 8.36%
20,750,913
– –
PDX
4
PIMCO Dynamic Income Strategy Fund
PDX
$957M
$185M 5%
7,541,934
+731,721
+11% +$18.7M
BCAT icon
5
BlackRock Capital Allocation Term Trust
BCAT
$1.6B
$170M 4.6%
11,809,531
-1,807,746
-13% -$27.6M
GDV icon
6
Gabelli Dividend & Income Trust
GDV
$2.6B
$153M 4.14%
6,348,579
+251,409
+4% +$6.17M
ASA
7
ASA Gold and Precious Metals
ASA
$948M
$98.1M 2.65%
3,253,837
– –
NBXG
8
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.18B
$93.9M 2.54%
7,663,379
+810,049
+12% +$10.6M
NFJ
9
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.41B
$92.6M 2.5%
7,636,989
-528,623
-6% -$6.68M
BSTZ icon
10
BlackRock Science and Technology Term Trust
BSTZ
$1.97B
$87M 2.35%
4,905,648
-1,487,051
-23% -$30.3M
ADX icon
11
Adams Diversified Equity Fund
ADX
$3.17B
$84.8M 2.29%
4,462,956
-965,910
-18% -$19.4M
MEGI
12
MainStay CBRE Global Infrastructure Megatrends Term Fund
MEGI
$786M
$83M 2.24%
6,235,018
+459,205
+8% +$5.81M
GAM
13
General American Investors Company
GAM
$1.54B
$81.4M 2.2%
1,616,534
+152,234
+10% +$7.84M
PEO
14
Adams Natural Resources Fund
PEO
$759M
$65.9M 1.78%
2,888,993
+46
+0% +$1.03K
NQP
15
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
$56.8M 1.53%
5,058,973
– –
AAL icon
16
PUT
American Airlines Group
AAL
$9.58B
$53.4M 1.44%
5,062,500
-6,139,800
-55% -$92.5M
BFZ
17
DELISTED
BlackRock CA Municipal Income Trust
BFZ
$52.2M 1.41%
4,752,360
-447,728
-9% -$5.03M
NXJ
18
DELISTED
Nuveen New Jersey Quality Municipal Income Fund
NXJ
$44.4M 1.2%
3,772,901
-1,500,327
-28% -$18.1M
HQL
19
abrdn Life Sciences Investors
HQL
$585M
$40.5M 1.09%
3,188,405
-241,618
-7% -$3.27M
MHI
20
DELISTED
Pioneer Municipal High Income Fund
MHI
$38M 1.03%
4,131,903
+23,942
+0.6% +$225K
EVM
21
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
$37.3M 1.01%
4,023,724
+185,072
+5% +$1.73M
AFB
22
AllianceBernstein National Municipal Income Fund
AFB
$312M
$34.2M 0.92%
3,149,020
– –
CNNE icon
23
Cannae Holdings
CNNE
$647M
$33.6M 0.91%
1,834,832
-384,398
-17% -$7.25M
ENX
24
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
$33.5M 0.91%
3,531,342
+219,574
+7% +$2.12M
MAV
25
DELISTED
Pioneer Municipal High Income Advantage Fund
MAV
$32.8M 0.89%
3,922,889
+161,761
+4% +$1.38M
1
2 3 4 5

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WB
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GCM
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VI
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SL
Siren LLC Greenwich, Connecticut $3.61B AUM 203.3% 1-Year Est. Return
JFG
JMG Financial Group Downers Grove, Illinois $3.63B AUM 17.91% 1-Year Est. Return
U
Uber San Francisco, California $3.6B AUM 19.81% 1-Year Est. Return
SPC
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Saba Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Saba Capital Management held 311 positions worth $3.7B, down 13% from $4.27B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Saba Capital Management withdrew a net $423M in Q1 2025, closing 41 positions and reducing 58 holdings. Its most notable exit was Invesco Municipal Opportunity Trust, an estimated $21.2M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 1.4% of assets, up from 1.1% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Saba Capital Management opened a new position in Vertical Aerospace worth $14.1M.

  • Saba Capital Management's largest Q1 2025 buy was Vertical Aerospace: 4,199,443 shares worth $14.1M.
  • Saba Capital Management added most to PIMCO Dynamic Income Strategy Fund in Q1 2025, an estimated $18.7M increase.
  • Saba Capital Management's biggest Q1 2025 reduction was BlackRock Science and Technology Term Trust, cutting an estimated $30.3M.
  • Saba Capital Management fully exited Invesco Municipal Opportunity Trust in Q1 2025, selling an estimated $21.2M.
  • Saba Capital Management's ten largest holdings make up 55% of its $3.7B portfolio in Q1 2025.
  • Saba Capital Management opened 26 new positions and closed 41 in Q1 2025.
  • Saba Capital Management's portfolio value fell 13% quarter-over-quarter to $3.7B.

Based on Saba Capital Management's 13F filing for Q1 2025, filed 15 May 2025.