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

Institutional investor · Portfolio as of Q2 2022

Top Holdings1,106 positions

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Activity:
AALAAL
PUT

AMERICAN AIRLINES GROUP INC

19.4M$246.5M2.9%———
Increased
—
POSTPOST
PUT

POST HOLDINGS INC

1.8M$150.6M1.8%———
Increased
—
TDGTDG
PUT

TRANSDIGM GROUP INC

280,600$150.6M1.8%———
Decreased
—
SABASABA
Fund

SABA CAPITAL INCOME & OPPORT

33.1M$146.1M1.7%$6.46-8.07%
10 qtrssince 2020-Q1
Increased
53
NRGNRG
PUT

NRG ENERGY INC

3.1M$118.2M1.4%———
Increased
—
COOPCOOP
PUT
Delisted

MR COOPER GROUP INC

2.6M$97M1.1%———
Decreased
—
PFSIPFSI
PUT

PENNYMAC FINANCIAL SERVICES INC

1.9M$84.6M1.0%———
Decreased
—
KAHCKAHCDelisted

KKR ACQUISITION HOLDING I CO

5.6M$55.1M0.6%——
5 qtrssince 2021-Q2
Increased
67
ASZASZDelisted

AUSTERLITZ ACQUISITION CORP

4.6M$45.2M0.5%——
5 qtrssince 2021-Q2
Increased
66
HEHERADelisted

FTAC HERA ACQUISITION CORP

4.5M$44.1M0.5%——
5 qtrssince 2021-Q2
Increased
51
VFLVFLDelisted
Fund

ABRDN NATL MUN INCOME FD

3.4M$38.6M0.5%$10.13-3.40%
3 qtrssince 2021-Q4
Increased
45
CSCOCSCO
PUT

CISCO SYS INC

900,000$38.4M0.4%———
New
—
GSEVGSEVDelisted

GORES HOLDINGS VII INC

3.8M$37.6M0.4%——
5 qtrssince 2021-Q2
Increased
45
NSNSTBDelisted

NORTHERN STAR INVSTMNT CORP

3.8M$37.4M0.4%——
3 qtrssince 2021-Q4
Increased
41
EPHYEPHYDelisted

EPIPHANY TECHNOLOGY ACQUISIT

3.8M$37.4M0.4%——
6 qtrssince 2021-Q1
Increased
45
ZINGZINGDelisted

FTAC ZEUS ACQUISITION COR

3.8M$37.3M0.4%——
2 qtrssince 2022-Q1
Unchanged
0
ADIADI
PUT

ANALOG DEVICES INC

250,000$36.5M0.4%———
New
—
BRWBRW
Fund

SABA CAPITAL INCOME & OPRNT

4.5M$36.2M0.4%$4.380.00%
1 qtr
New
48
BCSABCSADelisted

BLOCKCHAIN COINVSTRS ACQ CRP

3.5M$35.2M0.4%——
2 qtrssince 2022-Q1
Increased
43
FVIVFVIVDelisted

FORTRESS VALUE ACQUISI CORP

3.5M$34.3M0.4%——
5 qtrssince 2021-Q2
Increased
39
$8.6B
AUM
1,106
Positions
Q2 2022
Filing
HI score · 2.5/5
Quarterly 13F Value Change
+45%Q1'21$2.4B+10%Q2'21$2.7B+16%Q3'21$3.1B+58%Q4'21$4.9B+21%Q1'22$6B+24%Q2'22$7.4B
Activity profile
$ moved · Q2'22
New29%Increased48%Decreased10%Exited13%
Composition
Equity vs derivatives
Equity87%Puts13%Calls0%
Holding period
Avg 2.3 quarters
<1Q18%1-4Q54%1-2Y24%2Y+4%

Saba Capital Management, L.P. manages $8.6B across 1106 positions as of Q2 2022. Top holdings: AAL puts (2.9%), POST puts (1.8%), TDG puts (1.8%). Fund DNA: Diversified Scout. HoldingsIntel Score: 2.5/5.0.

Q2 2022 Summary

Active quarter - 198 new positions, 57 exits, 431 increased. Top move: KAHC (INCREASED, conviction 67). Portfolio: $8.6B across 1106 positions.

Top holdings by portfolio weight

Total AUM$7B
SABA1.70%
KAHC0.64%
ASZ0.53%
HERA0.51%
VFL0.45%
GSEV0.44%
NSTB0.44%
EPHY0.44%
ZING0.44%
BRW0.42%
Other0.41%

Portfolio allocation by GICS sector

Sectors11
Unknown84.42%
Financial Services10.38%
Technology1.98%
Healthcare0.81%
Consumer Cyclical0.71%
Industrials0.61%
Energy0.30%
Consumer Defensive0.25%
Communication Services0.20%
Basic Materials0.14%
Other0.21%

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&L38
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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Accumulation Streaks

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

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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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