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SCM
Saba Capital Management Portfolio holdings
AUM
$3.9B
1-Year Est. Return
12.9%
This Fund
S&P 500
This Quarter
Est. Return
+8.29%
1 Year Est. Return
+12.9%
3 Year Est. Return
+34.99%
5 Year Est. Return
+42.32%
10 Year Est. Return
+54.91%
AUM
$3.66B
AUM Growth
-$599M
(-14%)
Cap. Flow
-$823M
Cap. Flow
% of AUM
-22.5%
Top 10 Holdings %
Top 10 Hldgs %
44.39%
Holding
376
New
53
Increased
42
Reduced
87
Closed
47
Avg Time Held Equity + Options
5.7
quarters
Top 10 Avg Time Held Equity + Options
3.5
quarters
Top 20 Avg Time Held Equity + Options
3.9
quarters
Avg Time Held Equity only
6
quarters
Top 10 Avg Time Held Equity only
3.9
quarters
Top 20 Avg Time Held Equity only
5.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ASA Gold and Precious Metals
ASA
|
+$50.9M |
| 2 |
Royce Value Trust
RVT
|
+$22.1M |
| 3 |
TRI-Continental Corp
TY
|
+$17M |
| 4 |
Wen Acquisition Corp
WENN
|
+$15.9M |
| 5 |
General American Investors Company
GAM
|
+$14.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BlackRock Technology and Private Equity Term Trust
BTX
|
+$445M |
| 2 |
BlackRock Capital Allocation Term Trust
BCAT
|
+$101M |
| 3 |
MHI
Pioneer Municipal High Income Fund
MHI
|
+$38.5M |
| 4 |
Adams Diversified Equity Fund
ADX
|
+$33.4M |
| 5 |
MAV
Pioneer Municipal High Income Advantage Fund
MAV
|
+$33.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 86.96% |
| 2 | Financials | 4.4% |
| 3 | Technology | 2.69% |
| 4 | Communication Services | 2.13% |
| 5 | Consumer Discretionary | 1.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
BlackRock ESG Capital Allocation Term Trust
ECAT
$1.39B
| $456M | 12.47% |
27,800,724
-804,317
| -3% | -$13.2M |
2022 Q2
13 quarters
|
|
|
2
ASA Gold and Precious Metals
ASA
$991M
| $213M | 5.83% |
4,656,677
+1,402,840
| +43% | +$50.9M |
2022 Q4
11 quarters
|
|
3
PIMCO Dynamic Income Strategy Fund
PDX
$916M
| $187M | 5.11% |
7,489,207
-38,690
| -0.5% | -$951K |
2021 Q4
15 quarters
|
|
4
Gabelli Dividend & Income Trust
GDV
$2.47B
| $166M | 4.54% |
6,114,312
-653,837
| -10% | -$17.4M |
2023 Q4
7 quarters
|
|
|
5
General American Investors Company
GAM
$1.55B
| $127M | 3.47% |
2,041,561
+238,916
| +13% | +$14.1M |
2016 Q3
36 quarters
|
|
6
Neuberger Next Generation Connectivity Fund Inc
NBXG
$1.24B
| $119M | 3.25% |
7,721,404
+58,025
| +0.8% | +$860K |
2021 Q4
15 quarters
|
|
7
Virtus Dividend, Interest & Premium Strategy Fund
NFJ
$1.4B
| $97.7M | 2.67% |
7,507,958
-175,500
| -2% | -$2.24M |
2016 Q1
38 quarters
|
|
8
NYLIM CBRE Global Infrastructure Megatrends Term Fund
MEGI
$728M
| $91.9M | 2.51% |
6,259,969
| – | – |
2022 Q3
12 quarters
|
|
9
PUT
Boeing
BA
$147B
| $84.3M | 2.3% |
390,500
+92,200
| +31% | +$20.8M |
2025 Q2
1 quarter
|
|
10
BlackRock Science and Technology Term Trust
BSTZ
$2.01B
| $81.9M | 2.24% |
3,693,995
-433,745
| -11% | -$9.32M |
2022 Q4
11 quarters
|
|
11
PUT
Advanced Micro Devices
AMD
$989B
| $78.1M | 2.14% |
483,000
-32,700
| -6% | -$5.28M |
2025 Q2
1 quarter
|
|
12
PUT
NVIDIA
NVDA
$5.52T
| $70.4M | 1.92% |
377,100
+194,100
| +106% | +$33.8M |
2025 Q2
1 quarter
|
|
13
PUT
Western Digital
WDC
$143B
| $67.1M | 1.84% |
559,000
+8,200
| +1% | +$670K |
2025 Q2
1 quarter
|
|
14
Adams Natural Resources Fund
PEO
$826M
| $57.8M | 1.58% |
2,687,324
-190,015
| -7% | -$4.1M |
2022 Q4
11 quarters
|
|
15
DELISTED
Nuveen Pennsylvania Quality Municipal Income Fund
NQP
| $56.6M | 1.55% |
4,718,866
-340,107
| -7% | -$3.78M |
2022 Q4
11 quarters
|
|
16
PUT
Microsoft
MSFT
$4.04T
| $54.8M | 1.5% |
105,800
-100,000
| -49% | -$51M |
2025 Q2
1 quarter
|
|
17
PUT
Applied Materials
AMAT
$368B
| $44.3M | 1.21% |
216,200
-115,900
| -35% | -$21M |
2025 Q2
1 quarter
|
|
|
EVM
18
DELISTED
Eaton Vance California Municipal Bond Fund
EVM
| $43.1M | 1.18% |
4,544,380
| – | – |
2022 Q4
11 quarters
|
|
19
abrdn Life Sciences Investors
HQL
$525M
| $40.1M | 1.1% |
2,586,652
-430,887
| -14% | -$5.9M |
2023 Q2
9 quarters
|
|
|
ENX
20
DELISTED
Eaton Vance New York Municipal Bond Fund
ENX
| $38.4M | 1.05% |
3,898,946
| – | – |
2022 Q1
14 quarters
|
|
21
PUT
Uber
UBER
$146B
| $37.5M | 1.03% |
383,100
-300,000
| -44% | -$28.1M |
2025 Q2
1 quarter
|
|
22
PUT
Qualcomm
QCOM
$189B
| $36.8M | 1.01% |
+221,000
| New | +$35.1M |
2025 Q3
0 quarters
|
|
23
BNY Mellon Strategic Municipals
LEO
$346M
| $35.6M | 0.97% |
5,698,819
+117,267
| +2% | +$699K |
2023 Q4
7 quarters
|
|
24
AllianceBernstein National Municipal Income Fund
AFB
$273M
| $33.4M | 0.91% |
3,081,299
-67,721
| -2% | -$704K |
2022 Q4
11 quarters
|
|
25
PUT
ExxonMobil
XOM
$716B
| $33.3M | 0.91% |
295,300
-250,000
| -46% | -$27.8M |
2025 Q2
1 quarter
|
|
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LNC
BOK
Saba Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Saba Capital Management held 376 positions worth $3.66B, down 14% from $4.26B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Saba Capital Management withdrew a net $823M in Q3 2025, closing 47 positions and reducing 87 holdings. Its most notable exit was BlackRock Technology and Private Equity Term Trust, an estimated $445M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 87% of assets, down from 89% a quarter earlier, followed by Financials and Technology.
Against the trend, Saba Capital Management opened a new position in Royce Value Trust worth $22.6M.
- Saba Capital Management's largest Q3 2025 buy was Royce Value Trust: 1,404,173 shares worth $22.6M.
- Saba Capital Management added most to ASA Gold and Precious Metals in Q3 2025, an estimated $50.9M increase.
- Saba Capital Management's biggest Q3 2025 reduction was BlackRock Capital Allocation Term Trust, cutting an estimated $101M.
- Saba Capital Management fully exited BlackRock Technology and Private Equity Term Trust in Q3 2025, selling an estimated $445M.
- Saba Capital Management's ten largest holdings make up 44% of its $3.66B portfolio in Q3 2025.
- Saba Capital Management opened 53 new positions and closed 47 in Q3 2025.
- Saba Capital Management's portfolio value fell 14% quarter-over-quarter to $3.66B.
Based on Saba Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.