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SABA

Saba Capital Income & Opportunities Fund II
SABA

122 hedge funds and large institutions have $250M invested in Saba Capital Income & Opportunities Fund II in 2017 Q3 according to their latest regulatory filings, with 8 funds opening new positions, 41 increasing their positions, 36 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

18% more capital invested

Capital invested by funds: $212M → $250M (+$38.1M)

14% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 36

0.62% more ownership

Funds ownership: 11.76% → 12.38% (+0.62%)

4% less funds holding

Funds holding: 127 → 122 (-5)

20% less funds holding in top 10

Funds holding in top 10: 5 → 4 (-1)

38% less first-time investments, than exits

New positions opened: 8 | Existing positions closed: 13

Holders
122
Holders Change
-5
Holders Change %
-3.94%
% of All Funds
3.04%
Holding in Top 10
4
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-20%
% of All Funds
0.1%
New
8
Increased
41
Reduced
36
Closed
13
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

1
Wells Fargo
Wells Fargo
California
+$5.67M
2
NSIM
North Star Investment Management
Illinois
+$4.92M
3
JFA
JNBA Financial Advisors
Minnesota
+$1.78M
4
RJA
Raymond James & Associates
Florida
+$1.25M
5
FIM
Frontier Investment Management
Texas
+$1.24M

Top Sellers

1
FIMG
Financial & Investment Management Group
Michigan
-$4.91M
2
RCM
Rivernorth Capital Management
Florida
-$705K
3
DA
Doliver Advisors
Texas
-$698K
4
CFP
Cornerstone Financial Partners
North Carolina
-$479K
5
SRC
Shufro Rose & Co
New York
-$337K
Name Holding Trade Value Shares
Change 		Change in
Stake
ECM
1
Evergreen Capital Management
Washington
$30.5M – – –
RCM
2
Rivernorth Capital Management
Florida
$24.3M -$705K -52,685 -3%
Wells Fargo
3
Wells Fargo
California
$19.1M +$5.67M +424,146 +43%
Morgan Stanley
4
Morgan Stanley
New York
$12.5M -$52.9K -3,959 -0.4%
PMG
5
Private Management Group
California
$12.1M -$56K -4,185 -0.5%
FIM
6
Frontier Investment Management
Texas
$11.7M +$1.24M +92,658 +12%
Invesco
7
Invesco
Georgia
$11M +$570K +42,641 +5%
NSIM
8
North Star Investment Management
Illinois
$9.54M +$4.92M +368,029 +108%
CFP
9
Cornerstone Financial Partners
North Carolina
$7.73M -$479K -35,851 -6%
PHS
10
Pekin Hardy Strauss
Illinois
$7.26M +$460K +34,405 +7%
KLI
11
Kelman-Lazarov Inc
Tennessee
$7.21M +$186K +13,919 +3%
EAM
12
Evanson Asset Management
California
$7.16M -$238K -17,826 -3%
Bank of America
13
Bank of America
North Carolina
$5.65M +$767K +57,358 +16%
Commonwealth Equity Services
14
Commonwealth Equity Services
Massachusetts
$5.55M -$220K -16,432 -4%
JFA
15
JNBA Financial Advisors
Minnesota
$5.53M +$1.78M +133,092 +48%
GS
16
Girard Securities
California
$4.6M -$4.37K -327 -0.1%
1CP
17
1607 Capital Partners
Virginia
$4.15M -$178K -13,300 -4%
WCM
18
Windsor Capital Management
Arizona
$4.02M – – –
Barclays
19
Barclays
United Kingdom
$3.64M – – –
RJA
20
Raymond James & Associates
Florida
$3.36M +$1.25M +93,700 +60%
Ameriprise
21
Ameriprise
Minnesota
$3.34M +$71.6K +5,351 +2%
HighTower Advisors
22
HighTower Advisors
Illinois
$3.33M +$116K +8,651 +4%
WMG
23
WESCAP Management Group
California
$3.1M +$384K +28,715 +14%
UBS Group
24
UBS Group
Switzerland
$2.79M -$231K -17,249 -8%
Thrivent Financial for Lutherans
25
Thrivent Financial for Lutherans
Minnesota
$2.7M +$18.1K +1,350 +0.7%
1
2 3 4 5

SABA Hedge Fund Activity: Q3 2017 in Review

122 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Saba Capital Income & Opportunities Fund II (SABA) for Q3 2017, worth a combined $250M — up 18% from $212M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of SABA and 8 opened new positions — a net loss of 5 holders — while 36 trimmed existing stakes and 41 added.

The largest buyer was Wells Fargo, adding an estimated $5.67M. The largest seller was Financial & Investment Management Group, cutting an estimated $4.91M.

  • 122 institutional investors held Saba Capital Income & Opportunities Fund II (SABA) as of Q3 2017, down from 127 in Q2 2017.
  • Funds reported $250M of Saba Capital Income & Opportunities Fund II stock for Q3 2017, up 18% quarter-over-quarter.
  • 8 funds opened new Saba Capital Income & Opportunities Fund II positions in Q3 2017 and 13 closed out, a net change of -5 holders.
  • The largest Saba Capital Income & Opportunities Fund II buyer in Q3 2017 was Wells Fargo, an estimated $5.67M added.
  • The largest Saba Capital Income & Opportunities Fund II seller in Q3 2017 was Financial & Investment Management Group, an estimated $4.91M sold.

Based on aggregated 13F filings for Q3 2017.