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Saba Closed-End Funds ETF
CEFS

84 hedge funds and large institutions have $131M invested in Saba Closed-End Funds ETF in 2025 Q4 according to their latest regulatory filings, with 17 funds opening new positions, 38 increasing their positions, 13 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

192% more repeat investments, than reductions

Existing positions increased: 38 | Existing positions reduced: 13

183% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 6

17% more capital invested

Capital invested by funds: $112M → $131M (+$19.1M)

12% more funds holding

Funds holding: 75 → 84 (+9)

2.96% more ownership

Funds ownership: 33.29% → 36.25% (+3%)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
84
Holders Change
+9
Holders Change %
+12%
% of All Funds
1.02%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
17
Increased
38
Reduced
13
Closed
6
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
FFA
Farther Finance Advisors
California
+$7.12M
2
AWA
Arete Wealth Advisors
Illinois
+$5.59M
3
CM
Columbus Macro
Pennsylvania
+$5.44M
4
AF
Advisornet Financial
Minnesota
+$1.86M
5
AFP
Ausdal Financial Partners
Iowa
+$1.21M

Top Sellers

1
FM
Family Management
New York
-$877K
2
LPL Financial
LPL Financial
California
-$812K
3
OC
Oppenheimer & Co
New York
-$769K
4
SG
StoneX Group
New York
-$523K
5
TJHA
Thomas J. Herzfeld Advisors
Florida
-$330K
Name Holding Trade Value Shares
Change 		Change in
Stake
LPL Financial
1
LPL Financial
California
$9.34M -$812K -35,662 -8%
NEPWA
2
New England Private Wealth Advisors
Massachusetts
$8.82M +$556K +24,412 +7%
Raymond James Financial
3
Raymond James Financial
Florida
$7.33M +$864K +37,954 +14%
FFA
4
Farther Finance Advisors
California
$7.28M +$7.12M +312,988 +9,861%
Royal Bank of Canada
5
Royal Bank of Canada
Ontario, Canada
$6.69M +$1.06M +46,724 +19%
Envestnet Asset Management
6
Envestnet Asset Management
Illinois
$6.68M +$526K +23,120 +9%
AF
7
Advisornet Financial
Minnesota
$6.35M +$1.86M +81,559 +42%
FIA
8
Foundations Investment Advisors
Arizona
$5.91M +$280K +12,286 +5%
Cetera Investment Advisers
9
Cetera Investment Advisers
Illinois
$5.85M +$476K +20,932 +9%
CM
10
Columbus Macro
Pennsylvania
$5.68M +$5.44M +239,180 +3,217%
AWA
11
Arete Wealth Advisors
Illinois
$5.66M +$5.59M +245,564 New
PCMF
12
Private Capital Management (Florida)
Florida
$4.48M +$448K +19,696 +11%
XF
13
XML Financial
Maryland
$4.41M +$943K +41,446 +28%
Wealth Enhancement Advisory Services
14
Wealth Enhancement Advisory Services
Minnesota
$2.92M +$373K +16,369 +15%
SC
15
Scotia Capital
Ontario, Canada
$2.34M +$261K +11,446 +13%
QA
16
Quattro Advisors
Pennsylvania
$2.34M +$2.31M +101,521 New
IFG
17
Independent Financial Group
California
$2.31M +$336K +14,770 +17%
TJHA
18
Thomas J. Herzfeld Advisors
Florida
$1.94M -$330K -14,477 -15%
VWA
19
Visionary Wealth Advisors
Illinois
$1.7M -$26.7K -1,175 -2%
RC
20
Rovin Capital
Arizona
$1.68M +$281K +12,340 +20%
OC
21
Oppenheimer & Co
New York
$1.4M -$769K -33,781 -36%
PCP
22
Proficio Capital Partners
Massachusetts
$1.39M -$244K -10,701 -15%
3AM
23
3EDGE Asset Management
Florida
$1.31M +$105K +4,624 +9%
AFP
24
Ausdal Financial Partners
Iowa
$1.23M +$1.21M +53,202 New
Lido Advisors
25
Lido Advisors
California
$1.2M – – –
1
2 3 4

CEFS Hedge Fund Activity: Q4 2025 in Review

84 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in Saba Closed-End Funds ETF (CEFS) for Q4 2025, worth a combined $131M — up 17% from $112M a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new CEFS positions and 6 closed out — a net gain of 11 holders — while 38 added to existing stakes and 13 trimmed.

The largest buyer was Farther Finance Advisors, adding an estimated $7.12M. The largest seller was Family Management, cutting an estimated $877K.

  • 84 institutional investors held Saba Closed-End Funds ETF (CEFS) as of Q4 2025, up from 75 in Q3 2025.
  • Funds reported $131M of Saba Closed-End Funds ETF stock for Q4 2025, up 17% quarter-over-quarter.
  • 17 funds opened new Saba Closed-End Funds ETF positions in Q4 2025 and 6 closed out, a net change of +11 holders.
  • The largest Saba Closed-End Funds ETF buyer in Q4 2025 was Farther Finance Advisors, an estimated $7.12M added.
  • The largest Saba Closed-End Funds ETF seller in Q4 2025 was Family Management, an estimated $877K sold.

Based on aggregated 13F filings for Q4 2025.