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

Institutional investor · Portfolio as of Q1 2022

Top Holdings951 positions

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Activity:
AALAAL
PUT

AMERICAN AIRLINES GROUP INC

17.5M$319M4.5%———
Increased
—
TDGTDG
PUT

TRANSDIGM GROUP INC

343,300$223.7M3.2%———
Increased
—
COOPCOOP
PUT
Delisted

MR COOPER GROUP INC

4M$180.9M2.6%———
Increased
—
SABASABA
Fund

SABA CAPITAL INCOME & OPPORT

29.7M$149.3M2.1%$6.52+1.49%
9 qtrssince 2020-Q1
Unchanged
0
PFSIPFSI
PUT

PENNYMAC FINL SVCS INC NEW

2M$105.8M1.5%———
Decreased
—
POSTPOST
PUT

POST HLDGS INC

1.3M$92.6M1.3%———
Increased
—
HYGHYG
PUT

ISHARES TR

1M$82.3M1.2%———
Decreased
—
9.9M$44.7M0.6%———
Decreased
0
ZINGZINGDelisted

FTAC ZEUS ACQUISITION COR

3.8M$37.1M0.5%——
1 qtr
New
57
HEHERADelisted

FTAC HERA ACQUISITION CORP

3.5M$34.3M0.5%——
4 qtrssince 2021-Q2
Increased
37
HIEHIEDelisted
Fund

MILLER HOWARD HIGH INC EQTY

2.9M$32.3M0.5%——
7 qtrssince 2020-Q3
Unchanged
0
VFLVFLDelisted
Fund

ABRDN NATL MUN INCOME FD

2.5M$31.8M0.5%$10.26-0.27%
2 qtrssince 2021-Q4
Increased
56
NSNSTBDelisted

NORTHERN STAR INVSTMNT CORP

3.2M$31.6M0.4%——
2 qtrssince 2021-Q4
Increased
44
3.2M$31.5M0.4%——
1 qtr
New
48
SMMSMMDelisted
Fund

SALIENT MIDSTREAM & MLP FD

3.7M$30.7M0.4%——
3 qtrssince 2021-Q3
Increased
45
FVIVFVIVDelisted

FORTRESS VALUE ACQUISI CORP

3.1M$30.6M0.4%——
4 qtrssince 2021-Q2
Increased
36
ACDIACDIDelisted

ASCENDANT DIGITAL ACQ CORP I

2.9M$28.9M0.4%——
1 qtr
New
48
??FOUNDER SPACDelisted
2.8M$28.4M0.4%———
Unchanged
0
BCSABCSADelisted

BLOCKCHAIN COINVSTRS ACQ CRP

2.8M$28.1M0.4%——
1 qtr
New
48
SUACSUACDelisted

SHOULDERUP TECHNOLOGY ACQUIS

2.8M$27.8M0.4%——
1 qtr
New
48
$7B
AUM
951
Positions
Q1 2022
Filing
HI score · 2.5/5
Quarterly 13F Value Change
+1%Q4'20$2.4B+28%Q1'21$3.1B+12%Q2'21$3.5B+17%Q3'21$4.1B+62%Q4'21$6.6B+6%Q1'22$7B
Activity profile
$ moved · Q1'22
New35%Increased19%Decreased18%Exited27%
Composition
Equity vs derivatives
Equity85%Puts15%Calls0%
Holding period
Avg 1.8 quarters
<1Q35%1-4Q47%1-2Y14%2Y+4%

Saba Capital Management, L.P. manages $7B across 951 positions as of Q1 2022. Top holdings: AAL puts (4.5%), TDG puts (3.2%), COOP puts (2.6%). Fund DNA: Diversified Scout. HoldingsIntel Score: 2.5/5.0.

Q1 2022 Summary

Active quarter - 366 new positions, 148 exits, 297 increased. Top move: ZING (NEW, conviction 57). Portfolio: $7.0B across 951 positions.

Top holdings by portfolio weight

Total AUM$6B
SABA2.13%
SABA CAPITAL0.64%
ZING0.53%
HERA0.49%
HIE0.46%
VFL0.45%
NSTB0.45%
YZ90.45%
SMM0.44%
FVIV0.44%
Other0.41%

Portfolio allocation by GICS sector

Sectors11
Unknown86.47%
Financial Services10.07%
Technology1.70%
Consumer Cyclical0.44%
Consumer Defensive0.34%
Healthcare0.33%
Industrials0.20%
Basic Materials0.17%
Real Estate0.12%
Utilities0.08%
Other0.08%

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&L39
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.

Similar Funds

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Accumulation Streaks

Positions with 2+ consecutive quarters of increases - persistent directional conviction.

Security
7Q
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Q4 2024 → Q2 2026+2.7M shares+$33.4M
5Q
RMTRMTROYCE MICRO-CAP TR INC
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4Q
HFROHFROHIGHLAND INCOME FD
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer

Verify source filings on SEC EDGAR

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