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BRW

Saba Capital Income & Opportunities Fund
BRW

92 hedge funds and large institutions have $274M invested in Saba Capital Income & Opportunities Fund in 2020 Q1 according to their latest regulatory filings, with 11 funds opening new positions, 21 increasing their positions, 34 reducing their positions, and 22 closing their positions.

New
Increased
Maintained
Reduced
Closed

6.06% more ownership

Funds ownership: 18.89% → 24.96% (+6.1%)

13% less funds holding

Funds holding: 106 → 92 (-14)

17% less capital invested

Capital invested by funds: $332M → $274M (-$58M)

25% less funds holding in top 10

Funds holding in top 10: 4 → 3 (-1)

38% less repeat investments, than reductions

Existing positions increased: 21 | Existing positions reduced: 34

50% less first-time investments, than exits

New positions opened: 11 | Existing positions closed: 22

Holders
92
Holders Change
-14
Holders Change %
-13.21%
% of All Funds
2.03%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.07%
New
11
Increased
21
Reduced
34
Closed
22
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
SCM
Saba Capital Management
New York
+$46.9M
2
RCM
Rivernorth Capital Management
Florida
+$4.3M
3
CCP
Clough Capital Partners
Massachusetts
+$2.09M
4
Stifel Financial
Stifel Financial
Missouri
+$1.86M
5
COLIM
City of London Investment Management
United Kingdom
+$537K

Top Sellers

Rank Fund Capital Flow
1
UBS Group
UBS Group
Switzerland
-$3.85M
2
VCM
Vivaldi Capital Management
Illinois
-$3.18M
3
PPA
Parametric Portfolio Associates
Washington
-$3.02M
4
Invesco
Invesco
Georgia
-$1.32M
5
QGA
Q Global Advisors
Texas
-$1.21M
Name Holding Trade Value Shares
Change 		Change in
Stake
VCP
76
Verus Capital Partners
Arizona
$14K +$18.2K +1,920 New
CAL
77
Capital Advisors Ltd
Ohio
$12K – – –
CFGS
78
Concourse Financial Group Securities
Alabama
$7K – – –
SIA
79
SeaBridge Investment Advisors
New Jersey
$7K – – –
FCM
80
Firestone Capital Management
Florida
$7K +$351 +37 +4%
Fifth Third Bancorp
81
Fifth Third Bancorp
Ohio
$6K – – –
CAC
82
Certified Advisory Corp
Florida
$5K – – –
PCG
83
Private Capital Group
Connecticut
$5K – – –
NSIM
84
North Star Investment Management
Illinois
$2K – – –
SPIA
85
Steward Partners Investment Advisory
New York
$2K – – –
TWA
86
TCI Wealth Advisors
Arizona
$2K +$2.69K +283 New
CT
87
Caldwell Trust
Florida
$1.3K – – –
PFGIA
88
Patriot Financial Group Insurance Agency
Massachusetts
$1K +$9 +1 +0.9%
APA
89
American Portfolios Advisors
New York
$816 – – –
VCM
90
Vivaldi Capital Management
Illinois
– -$3.18M -317,373 Closed
PPA
91
Parametric Portfolio Associates
Washington
– -$3.02M -301,581 Closed
QGA
92
Q Global Advisors
Texas
– -$1.21M -121,184 Closed
Millennium Management
93
Millennium Management
New York
– -$993K -99,106 Closed
ICM
94
Ionic Capital Management
New York
– -$557K -55,588 Closed
MIG
95
Mariner Investment Group
New York
– -$387K -38,635 Closed
CF
96
Copperwynd Financial
Arizona
– -$280K -27,926 Closed
SFS
97
Shaker Financial Services
Virginia
– -$161K -16,059 Closed
VC
98
Voit & Company
Wisconsin
– -$139K -13,867 Closed
TRCT
99
Tower Research Capital (TRC)
New York
– -$107K -10,716 Closed
AC
100
Almitas Capital
California
– -$73K -7,296 Closed
1 2 3
4
5

BRW Hedge Fund Activity: Q1 2020 in Review

92 of the 4,539 institutional investors tracked by Wall St. Rank reported a position in Saba Capital Income & Opportunities Fund (BRW) for Q1 2020, worth a combined $274M — down 17% from $332M a quarter earlier.

Sellers outnumbered buyers: 22 funds closed out of BRW and 11 opened new positions — a net loss of 11 holders — while 34 trimmed existing stakes and 21 added.

The largest buyer was Saba Capital Management, adding an estimated $46.9M. The largest seller was UBS Group, cutting an estimated $3.85M.

  • 92 institutional investors held Saba Capital Income & Opportunities Fund (BRW) as of Q1 2020, down from 106 in Q4 2019.
  • Funds reported $274M of Saba Capital Income & Opportunities Fund stock for Q1 2020, down 17% quarter-over-quarter.
  • 11 funds opened new Saba Capital Income & Opportunities Fund positions in Q1 2020 and 22 closed out, a net change of -11 holders.
  • The largest Saba Capital Income & Opportunities Fund buyer in Q1 2020 was Saba Capital Management, an estimated $46.9M added.
  • The largest Saba Capital Income & Opportunities Fund seller in Q1 2020 was UBS Group, an estimated $3.85M sold.

Based on aggregated 13F filings for Q1 2020.