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

Institutional investor · Portfolio as of Q3 2025

Top Holdings329 positions

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Activity:
ECATECAT
Fund

BLACKROCK ESG CAP ALLC TERM SHS BEN INT

27.8M$455.9M12.5%$11.22+18.01%
4 qtrssince 2024-Q4
Decreased
0
ASAASA
Fund

ASA GOLD AND PRECIOUS MTLS LMT SHS

4.7M$213.3M5.8%$27.76+64.28%
4 qtrssince 2024-Q4
Increased
80
PDXPDX
Fund

PIMCO DYNAMIC INCOME STRATEGY COM SHS BEN INT

7.5M$186.7M5.1%$19.75+0.82%
4 qtrssince 2024-Q4
Decreased
0
XGDVXXGDVX
Fund

GABELLI DIVID & INCOME TR COM

6.1M$165.9M4.5%$27.68+10.14%
4 qtrssince 2024-Q4
Decreased
0
GAMGAM
Fund

GENERAL AMERN INVS CO INC COM

2M$127M3.5%$47.40+17.88%
4 qtrssince 2024-Q4
Increased
63
NBXGNBXG
Fund

NEUBERGER NEXT GENERATION

7.7M$118.8M3.2%$10.81+29.02%
4 qtrssince 2024-Q4
Increased
55
NFJNFJ
Fund

VIRTUS DIVIDEND INTEREST & PR COM

7.5M$97.7M2.7%$10.76+10.82%
4 qtrssince 2024-Q4
Decreased
0
MEGIMEGI
Fund

NYLI CBRE GBL INFR MEGTRNDS

6.3M$91.9M2.5%$10.21+29.73%
4 qtrssince 2024-Q4
Unchanged
0
BABA
PUT

BOEING CO

390,500$84.3M2.3%———
Increased
—
BSTZBSTZ
Fund

BLACKROCK SCIENCE & TECHNOLOGY SHS BEN INT

3.7M$81.9M2.2%$16.28+18.08%
4 qtrssince 2024-Q4
Decreased
0
AMDAMD
PUT

ADVANCED MICRO DEVICES INC

483,000$78.1M2.1%———
Decreased
—
NVDANVDA
PUT

NVIDIA Corp.

377,100$70.4M1.9%———
Increased
—
WDCWDC
PUT

WESTERN DIGITAL CORP.

559,000$67.1M1.8%———
Increased
—
PEOPEO
Fund

ADAM NAT RES FD INC COM

2.7M$57.8M1.6%$18.62+6.40%
4 qtrssince 2024-Q4
Decreased
0
NQPNQPDelisted
Fund

NUVEEN PA INVT QUALITY MUN F

4.7M$56.6M1.5%$10.08+13.99%
4 qtrssince 2024-Q4
Decreased
0
MSFTMSFT
PUT

Microsoft Corp.

105,800$54.8M1.5%———
Decreased
—
AMATAMAT
PUT

APPLIED MATLS INC

216,200$44.3M1.2%———
Decreased
—
EVMEVMDelisted
Fund

EATON VANCE CALIF MUN BD FD

4.5M$43.1M1.2%——
4 qtrssince 2024-Q4
Unchanged
0
HQLHQL
Fund

ABRDN LIFE SCIENCES INVESTOR

2.6M$40.1M1.1%$10.51+30.48%
4 qtrssince 2024-Q4
Decreased
0
ENXENXDelisted
Fund

EATON VANCE NEW YORK MUN BD

3.9M$38.4M1.1%——
4 qtrssince 2024-Q4
Unchanged
0
$3.7B
AUM
329
Positions
Q3 2025
Filing
HI score · 2.0/5
Quarterly 13F Value Change
-8%Q1'25$3.6B+1%Q2'25$3.7B-18%Q3'25$3B
Activity profile
$ moved · Q3'25
New15%Increased18%Decreased31%Exited35%
Composition
Equity vs derivatives
Equity83%Puts17%Calls0%
Holding period
Avg 2.0 quarters
<1Q16%1-4Q84%1-2Y0%2Y+0%

Saba Capital Management, L.P. manages $3.7B across 329 positions as of Q3 2025. Top holdings: ECAT (12.5%), ASA (5.8%), PDX (5.1%). Fund DNA: Momentum Trader. HoldingsIntel Score: 2/5.0.

Q3 2025 Summary

Active quarter - 49 new positions, 47 exits, 38 increased. Top move: ASA (INCREASED, conviction 80). Portfolio: $3.7B across 329 positions.

Top holdings by portfolio weight

Total AUM$3B
ECAT12.47%
ASA5.83%
PDX5.11%
XGDVX4.54%
GAM3.47%
NBXG3.25%
NFJ2.67%
MEGI2.51%
BSTZ2.24%
PEO1.58%
Other1.55%

Portfolio allocation by GICS sector

Sectors11
Unknown83.73%
Financial Services5.96%
Technology3.20%
Communication Services2.61%
Consumer Cyclical1.58%
Industrials1.38%
Real Estate0.48%
Healthcare0.47%
Energy0.29%
Basic Materials0.17%
Other0.14%

Behavioral investing profile

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Momentum Trader- primarily Unknown
Compare DNA across all funds
7-dimension, SEC 13F-derived research score
Below Average(2.0 / 5.0)
Holdings P&L41
Conviction32
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

Verify source filings on SEC EDGAR

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