Saba Capital Management, L.P.Saba Capital Management, L.P.

Institutional investor · Portfolio as of Q1 2021

Top Holdings431 positions

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Activity:
HYGHYG
PUT

ISHARES TR

3.4M$292.7M9.4%———
Decreased
—
UBERUBER
PUT

UBER TECHNOLOGIES INC

3.2M$174.1M5.6%———
Decreased
—
SABASABA
Fund

SABA CAPITAL INCOME & OPPORT

24.6M$130.4M4.2%$6.46-0.31%
5 qtrssince 2020-Q1
Increased
66
PPRPPRDelisted
Fund

VOYA PRIME RATE TR

27.5M$127.4M4.1%——
7 qtrssince 2019-Q3
Decreased
0
XVTAXXVTAXDelisted
Fund

INVESCO DYNAMIC CR OPPORTUNI

10.1M$115.2M3.7%$10.87+9.16%
7 qtrssince 2019-Q3
Increased
60
EFTEFT
Fund

EATON VANCE FLOATING RATE IN

6.2M$87.7M2.8%$7.31+16.92%
7 qtrssince 2019-Q3
Increased
52
XX
PUT
Delisted

UNITED STATES STL CORP NEW

2.9M$74.8M2.4%———
Decreased
—
JFRJFR
Fund

NUVEEN FLOATING RATE INCOME

6.7M$64.6M2.1%$4.07+30.19%
5 qtrssince 2020-Q1
Unchanged
0
VVRVVR
Fund

INVESCO SR INCOME TR

14.6M$61.2M2.0%$1.92+14.68%
7 qtrssince 2019-Q3
Decreased
0
EVFEVF
Fund

EATON VANCE SR INCOME TR

8M$53.3M1.7%$3.26+23.36%
7 qtrssince 2019-Q3
Unchanged
0
XEFRXXEFRX
Fund

EATON VANCE SR FLTNG RTE TR

3.5M$48.2M1.5%——
7 qtrssince 2019-Q3
Increased
48
JROJRO
Fund

NUVEEN FLOATING RATE INCOME

4.5M$42.9M1.4%——
6 qtrssince 2019-Q4
Unchanged
0
AALAAL
PUT

AMERICAN AIRLINES GROUP INC

1.6M$39M1.3%———
Decreased
—
GHYGHY
Fund

PGIM GLOBAL HIGH YIELD FD FO

2.6M$38.5M1.2%$6.49+30.04%
7 qtrssince 2019-Q3
Decreased
0
RTPYURTPYUDelisted
Unit

REINVENT TECHNOLOGY PARTNERS

3.8M$38.5M1.2%——
1 qtr
New
66
??SOURCE CAP INCDelisted
815,029$35.7M1.1%———
Increased
49
JGHJGH
Fund

NUVEEN GLOBAL HIGH INCOME FD

2.1M$32.3M1.0%$7.60+16.55%
7 qtrssince 2019-Q3
Decreased
0
TDGTDG
PUT

TRANSDIGM GROUP INC

53,500$31.5M1.0%———
New
—
BGBBGB
Fund

BLACKSTONE STRATEGIC CRED 20

2.3M$30.6M1.0%$6.79+22.41%
5 qtrssince 2020-Q1
Decreased
0
XIGDXXIGDX
Fund

VOYA GLBL EQTY DIV & PREM OP

5.3M$30.4M1.0%——
3 qtrssince 2020-Q3
Increased
48
$3.1B
AUM
431
Positions
Q1 2021
Filing
HI score · 2.5/5
Quarterly 13F Value Change
-12%Q1'20$1.9B+20%Q2'20$2.3B+5%Q3'20$2.4B+1%Q4'20$2.4B+28%Q1'21$3.1B
Activity profile
$ moved · Q1'21
New63%Increased5%Decreased21%Exited10%
Composition
Equity vs derivatives
Equity78%Puts22%Calls0%
Holding period
Avg <1 quarter
<1Q78%1-4Q9%1-2Y13%2Y+0%

Saba Capital Management, L.P. manages $3.1B across 431 positions as of Q1 2021. Top holdings: HYG puts (9.4%), UBER puts (5.6%), SABA (4.2%). Fund DNA: Diversified Scout. HoldingsIntel Score: 2.5/5.0.

Q1 2021 Summary

Active quarter - 334 new positions, 72 exits, 28 increased. Top move: SABA (INCREASED, conviction 66). Portfolio: $3.1B across 431 positions.

Top holdings by portfolio weight

Total AUM$2B
SABA4.18%
PPR4.08%
XVTAX3.69%
EFT2.81%
JFR2.07%
VVR1.96%
EVF1.71%
XEFRX1.55%
JRO1.37%
GHY1.23%
Other1.23%

Portfolio allocation by GICS sector

Sectors9
Unknown97.71%
Financial Services0.96%
Consumer Cyclical0.46%
Healthcare0.32%
Industrials0.22%
Real Estate0.16%
Technology0.11%
Energy0.03%
Utilities0.03%

Behavioral investing profile

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Diversified Scout- primarily Unknown
Compare DNA across all funds
7-dimension, SEC 13F-derived research score
Solid(2.5 / 5.0)
Holdings P&L40
Conviction33
Concentration60
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Position Outcomes

Best and worst performing positions by estimated return

Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.

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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

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