Saba Capital Management, L.P.

CIK

1510281

Location

NEW YORK, NY

Portfolio Value

Mid $3,832,514,689

Diversification

Diversified

Filing Date

Global Rank

#770 / 7,991 ▼ 2

Top Industry

Asset Management 73.8%

3Y Alpha vs SPY

-2.8%

Period ended 12 months ago

Filed Aug 14, 2025 · 10mo

22 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+65.2%

SPY

+76.5%

Annualised alpha

-2.6%

Max drawdown

−16.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

146 positions · as of Jun 30, 2025 · Δ vs Mar 31, 2025

Top Position

12.0%

−1.5 pts

Top 5

36.1%

−8.4 pts

Top 10

49.7%

−10.5 pts

HHI

423

Diversified−122

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2025

Sector	% Portfolio	Value	Positions
Financial Services	76.6%	$2,935,844,760	89
Technology	11.6%	$443,714,442	14
Industrials	2.8%	$106,947,001	5
Consumer Cyclical	2.4%	$93,681,557	8
Communication Services	2.3%	$88,839,243	7
Energy	2.1%	$82,012,419	5
Basic Materials	1.2%	$45,151,610	5
Real Estate	0.5%	$17,556,541	3
Healthcare	0.3%	$13,028,777	7
Utilities	0.1%	$3,888,002	1
Unclassified	0.0%	$1,850,337	2

Last Quarter's Activity

Export CSV

Jun 30, 2025 vs Mar 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
IAE	Voya Asia Pacific High Dividend Equity Income Fund	+1,792,989	1,816,687	$12,789,476
BMBL	Bumble Inc.	+1,173,753	4,252,362	$28,023,065
SNAP	Snap Inc	+1,125,366	1,729,048	$15,025,427
DSM	Bny Mellon Strategic Municipal Bond Fund, Inc.	+902,043	5,152,591	$28,854,509
UBER	Uber Technologies, Inc	+771,298	811,936	$75,753,628
IHD	Voya Emerging Markets High Dividend Equity Fund	+719,056	1,748,915	$10,388,555
SABR	Sabre Corp	+546,997	1,036,309	$3,274,736
JOF	Japan Smaller Capitalization Fund Inc	+522,110	2,107,155	$20,312,974
LEO	Bny Mellon Strategic Municipals, Inc.	+466,783	5,581,552	$33,042,787
DIAX	Nuveen Dow 30sm Dynamic Overwrite Fund	+421,086	712,188	$10,212,775
GDV	Gabelli Dividend & Income Trust	+419,570	6,768,149	$176,039,555
MFM	Mfs Municipal Income Trust	+357,881	1,041,627	$5,385,211
BOE	BlackRock Enhanced Global Dividend Trust	+346,084	2,172,011	$24,652,324
EMBC	Embecta Corp.	+326,709	379,209	$3,674,535
ABUS	Arbutus Biopharma Corp	+280,613	1,260,129	$3,893,798
IIF	Morgan Stanley India Investment Fund, Inc.	+265,891	1,016,952	$28,708,554
WB	WEIBO Corp	+258,000	2,617,357	$24,943,412
GLO	Clough Global Opportunities Fund	+251,847	2,655,724	$14,420,581
REAL	TheRealReal, Inc.	+243,930	493,938	$2,365,963
TROX	Tronox Holdings plc	+241,369	710,363	$3,601,540
GF	New Germany Fund Inc	+231,730	1,938,389	$23,144,364
RMT	Royce Micro-Cap Trust, Inc.	+224,373	271,614	$2,512,429
ECF	Ellsworth Growth & Income Fund Ltd	+223,234	1,627,221	$16,679,015
DMA	Destra Multi-Alternative Fund	+219,653	1,958,054	$17,132,972
GAM	General American Investors Co Inc	+186,111	1,802,645	$101,020,225
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
BCAT	BlackRock Capital Allocation Term Trust	−4,007,058	7,802,473	$118,129,441
ADX	Adams Diversified Equity Fund, Inc.	−1,592,803	2,870,153	$62,311,021
NXJ	NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND	−1,472,137	2,300,764	$26,113,671
HQH	abrdn Healthcare Investors	−1,037,294	164,102	$2,541,939
MPA	Blackrock Muniyield Pennsylvania Quality Fund	−794,168	1,177,841	$12,708,904
BSTZ	BlackRock Science & Technology Term Trust	−777,908	4,127,740	$85,650,605
PAGS	PagSeguro Digital Ltd.	−627,970	1,293,415	$12,468,520
NMAI	Nuveen Multi-Asset Income Fund	−606,550	1,771,563	$22,374,840
MYN	Blackrock Muniyield New York Quality Fund, Inc.	−523,903	682,211	$6,501,470
MUC	Blackrock Muniholdings California Quality Fund, Inc.	−504,049	1,836,624	$19,009,058
ACH	Accendra Health Inc/Va/	−401,503	74,255	$675,720
CPZ	Calamos Long/Short Equity & Dynamic Income Trust	−390,641	53,861	$874,164
SABA	Saba Capital Income & Opportunities Fund II	−171,015	2,764,970	$25,410,074
HQL	abrdn Life Sciences Investors	−170,866	3,017,539	$38,654,674
NML	Neuberger Energy Infrastructure & Income Fund Inc.	−121,622	1,047,478	$9,427,302
GNT	GAMCO Natural Resources, Gold & Income Trust	−112,505	1,693,672	$10,653,196
TYG	Tortoise Energy Infrastructure Corp	−111,546	625,915	$27,471,409
BGY	BlackRock Enhanced International Dividend Trust	−103,586	402,259	$2,329,079
IREN	IREN Ltd	−92,472	490,100	$7,140,757
CEV	Eaton Vance California Municipal Income Trust	−87,676	551,061	$5,339,781
NBH	Neuberger Municipal Fund Inc.	−86,957	1,746,177	$17,164,919
VISN	Vistance Networks, Inc.	−83,234	487,184	$4,033,883
MUJ	Blackrock Muniholdings New Jersey Quality Fund, Inc.	−80,055	186,623	$2,043,521
PGZ	Principal Real Estate Income Fund	−62,520	361,704	$3,805,126
EOD	Allspring Global Dividend Opportunity Fund	−62,452	1,888,921	$10,181,284
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
MSFT	Microsoft Corp	219,030	$108,947,712
AMD	Advanced Micro Devices Inc	535,678	$76,012,708
AMAT	Applied Materials Inc /De	394,521	$72,224,959
BA	Boeing Co	341,668	$71,589,696
XOM	Exxon Mobil Corp	647,758	$69,828,312
MOS	Mosaic Co	1,026,056	$37,430,522
WDC	Western Digital Corp	583,551	$37,341,428
NVDA	Nvidia Corp	214,754	$33,928,984
F	Ford Motor Co	2,986,151	$32,399,738
RDAG	Republic Digital Acquisition Co	1,900,000	$19,494,000
ETOR	eToro Group Ltd.	260,000	$17,313,400
MXF	Mexico Fund Inc	866,862	$15,230,765
HFRO	Highland Opportunities & Income Fund	2,271,159	$11,810,026
ABNB	Airbnb, Inc.	88,778	$11,748,880
BAC	Bank Of America Corp /De/	242,382	$11,469,516
RAAQ	Real Asset Acquisition Corp.	822,246	$8,345,796
TACO	Berto Acquisition Corp.	700,000	$7,294,000
DJT	Trump Media & Technology Group Corp.	388,802	$7,013,988
PYPL	PayPal Holdings, Inc.	92,224	$6,854,087
RITM	Rithm Capital Corp.	540,000	$6,096,600
CAEP	Cantor Equity Partners III, Inc.	500,000	$5,275,000
IPCX	Inflection Point Acquisition Corp. III	500,000	$5,095,000
TDF	Templeton Dragon Fund Inc	484,570	$4,840,854
TY	TRI-CONTINENTAL Corp	131,968	$4,178,106
AES	Aes Corp	369,582	$3,888,002
No positions match the current search.

Sold Out

Positions the filer fully exited

14 positions

Ticker	Company	Shares	Value
BMEZ	BlackRock Health Sciences Term Trust	20,750,913	$309,188,603
AAL	American Airlines Group Inc.	5,128,936	$54,110,274
ASGI	abrdn Global Infrastructure Income Fund	976,775	$17,962,892
AOD	abrdn Total Dynamic Dividend Fund	1,599,240	$13,417,623
TBLD	Thornburg Income Builder Opportunities Trust	550,494	$9,875,862
EMO	ClearBridge Energy Midstream Opportunity Fund Inc.	181,841	$9,022,950
DAL	Delta Air Lines, Inc.	166,878	$7,275,880
NPCT	Nuveen Core Plus Impact Fund	607,083	$6,489,717
PDD	PDD Holdings Inc.	27,500	$3,254,625
LGI	Lazard Global Total Return & Income Fund Inc	155,220	$2,391,940
VPV	Invesco Pennsylvania Value Municipal Income Trust	166,030	$1,691,845
CAR	Avis Budget Group, Inc.	6,530	$495,627
BHV	Blackrock Virginia Municipal Bond Trust	18,407	$196,034
PCQ	Pimco California Municipal Income Fund	16,727	$148,033
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

146 positions · $3,832,514,689 total · as of Jun 30, 2025

All sectors Basic Materials Communication Services Consumer Cyclical Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 146 positions by value · page 1 of 3

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ECAT	BlackRock ESG Capital Allocation Term Trust Financial Services	Held	28,605,041	0	$459,396,958	+1.8%	11.99%
BTX	BlackRock Technology & Private Equity Term Trust Financial Services	Held	60,675,395	0	$445,357,399	+17.3%	11.62%
PDX	PIMCO Dynamic Income Strategy Fund Financial Services	Reduced	7,527,897	-14,037	$185,562,661	+0.3%	4.84%
GDV	Gabelli Dividend & Income Trust Financial Services	Added	6,768,149	+419,570	$176,039,555	+14.9%	4.59%
BCAT	BlackRock Capital Allocation Term Trust Financial Services	Reduced	7,802,473	-4,007,058	$118,129,441	−30.5%	3.08%
NBXG	Neuberger Next Generation Connectivity Fund Inc. Financial Services	Held	7,663,379	0	$111,885,333	+19.2%	2.92%
MSFT	Microsoft Corp Technology	NEW	219,030	NEW	$108,947,712	NEW	2.84%
ASA	ASA Gold & Precious Metals Ltd Financial Services	Held	3,253,837	0	$102,723,634	+4.7%	2.68%
GAM	General American Investors Co Inc Financial Services	Added	1,802,645	+186,111	$101,020,225	+24.1%	2.64%
NFJ	Virtus Dividend, Interest & Premium Strategy Fund Financial Services	Added	7,683,458	+46,469	$95,274,879	+2.8%	2.49%
MEGI	NYLI CBRE Global Infrastructure Megatrends Term Fund Financial Services	Added	6,259,969	+24,951	$88,954,159	+7.2%	2.32%
BSTZ	BlackRock Science & Technology Term Trust Financial Services	Reduced	4,127,740	-777,908	$85,650,605	−1.6%	2.23%
AMD	Advanced Micro Devices Inc Technology	NEW	535,678	NEW	$76,012,708	NEW	1.98%
UBER	Uber Technologies, Inc Technology	Added	811,936	+771,298	$75,753,628	+2458.5%	1.98%
AMAT	Applied Materials Inc /De Technology	NEW	394,521	NEW	$72,224,959	NEW	1.88%
BA	Boeing Co Industrials	NEW	341,668	NEW	$71,589,696	NEW	1.87%
XOM	Exxon Mobil Corp Energy	NEW	647,758	NEW	$69,828,312	NEW	1.82%
ADX	Adams Diversified Equity Fund, Inc. Financial Services	Reduced	2,870,153	-1,592,803	$62,311,021	−26.5%	1.63%
PEO	Adams Natural Resources Fund, Inc. Financial Services	Reduced	2,877,339	-11,654	$61,488,734	−6.7%	1.60%
NQP	NUVEEN PENNSYLVANIA QUALITY MUNICIPAL INCOME FUND Financial Services	Held	5,058,973	0	$56,761,677	0.0%	1.48%
CNNE	Cannae Holdings, Inc. Consumer Cyclical	Added	1,935,921	+101,089	$40,363,952	+20.0%	1.05%
HQL	abrdn Life Sciences Investors Financial Services	Reduced	3,017,539	-170,866	$38,654,674	−4.5%	1.01%
MOS	Mosaic Co Basic Materials	NEW	1,026,056	NEW	$37,430,522	NEW	0.98%
WDC	Western Digital Corp Technology	NEW	583,551	NEW	$37,341,428	NEW	0.97%
NVDA	Nvidia Corp Technology	NEW	214,754	NEW	$33,928,984	NEW	0.89%
LEO	Bny Mellon Strategic Municipals, Inc. Financial Services	Added	5,581,552	+466,783	$33,042,787	+5.6%	0.86%
AFB	Alliancebernstein National Municipal Income Fund Financial Services	Held	3,149,020	0	$32,466,396	−5.1%	0.85%
F	Ford Motor Co Consumer Cyclical	NEW	2,986,151	NEW	$32,399,738	NEW	0.85%
EVTL	Vertical Aerospace Ltd. Industrials	Reduced	4,315,701	-8,249,185	$29,217,295	−30.8%	0.76%
DSM	Bny Mellon Strategic Municipal Bond Fund, Inc. Financial Services	Added	5,152,591	+902,043	$28,854,509	+17.7%	0.75%
IIF	Morgan Stanley India Investment Fund, Inc. Financial Services	Added	1,016,952	+265,891	$28,708,554	+56.7%	0.75%
BMBL	Bumble Inc. Communication Services	Added	4,252,362	+1,173,753	$28,023,065	+109.7%	0.73%
TYG	Tortoise Energy Infrastructure Corp Financial Services	Reduced	625,915	-111,546	$27,471,409	−13.5%	0.72%
NXJ	NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND Financial Services	Reduced	2,300,764	-1,472,137	$26,113,671	−41.2%	0.68%
SABA	Saba Capital Income & Opportunities Fund II Financial Services	Reduced	2,764,970	-171,015	$25,410,074	−0.5%	0.66%
WB	WEIBO Corp Communication Services	Added	2,617,357	+258,000	$24,943,412	+11.6%	0.65%
BOE	BlackRock Enhanced Global Dividend Trust Financial Services	Added	2,172,011	+346,084	$24,652,324	+24.4%	0.64%
GF	New Germany Fund Inc Financial Services	Added	1,938,389	+231,730	$23,144,364	+38.2%	0.60%
NMAI	Nuveen Multi-Asset Income Fund Financial Services	Reduced	1,771,563	-606,550	$22,374,840	−21.7%	0.58%
JOF	Japan Smaller Capitalization Fund Inc Financial Services	Added	2,107,155	+522,110	$20,312,974	+52.7%	0.53%
RDAG	Republic Digital Acquisition Co Financial Services	NEW	1,900,000	NEW	$19,494,000	NEW	0.51%
BTT	BlackRock Municipal 2030 Target Term Trust Financial Services	Added	877,113	+74,529	$19,200,003	+12.7%	0.50%
MUC	Blackrock Muniholdings California Quality Fund, Inc. Financial Services	Reduced	1,836,624	-504,049	$19,009,058	−24.2%	0.50%
GRX	Gabelli Healthcare & WellnessRx Trust Financial Services	Added	1,976,875	+20,387	$18,681,468	−5.3%	0.49%
ETOR	eToro Group Ltd. Financial Services	NEW	260,000	NEW	$17,313,400	NEW	0.45%
NBH	Neuberger Municipal Fund Inc. Financial Services	Reduced	1,746,177	-86,957	$17,164,919	−10.0%	0.45%
DMA	Destra Multi-Alternative Fund Financial Services	Added	1,958,054	+219,653	$17,132,972	+16.2%	0.45%
ECF	Ellsworth Growth & Income Fund Ltd Financial Services	Added	1,627,221	+223,234	$16,679,015	+30.8%	0.44%
BCX	BlackRock Resources & Commodities Strategy Trust Financial Services	Added	1,674,206	+145,111	$15,821,246	+10.9%	0.41%
MXF	Mexico Fund Inc Financial Services	NEW	866,862	NEW	$15,230,765	NEW	0.40%