SC
Saba Capital Management, L.P. SEC 13F Holdings (Q2 2026) — Top Position: ASA Gold and Precious Metals Limited
Saba Capital Management, L.P.CIK: 0001510281
Diversified strategyMomentum followerSector-focused
Total reported value
$3.9B
Reporting period: 2026-06-30 · Number of holdings: 400
Saba Capital Management, L.P. disclosed 400 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $3.9B and a quarterly turnover rate of 36.6%.
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Personality snowflake
- Concentration
- 10.08
- Portfolio Stability
- 36.6
- Momentum
- 100
- Sector conviction
- 70.83
- Diversification
- 100
- Sizing Uniformity
- 70.5
Saba Capital Management, L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.025 — mathematically equivalent to about 40 equally-sized positions, well below its 400 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.95), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 27% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim ASA
0.0% -$59.0M
Add AMD
-7.4% $57.0M
Sold out QCOM
Trim ECAT
-20.0% -$22.2M
Sold out CRWD
Add PDD
+46.9% $44.7M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 400 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ASA | ASA Gold and Precious Metals Limited | Stock-Other | 7.88% | -2.24% | — | |
| 2 | ECAT | Blackrock Esg Cap All Trm Tr | Stock-Other | 7.10% | -1.16% | -20.02% | |
| 3 | BSTZ | Blackrock Sci & Tech Trm Tr | Stock-Other | 4.39% | +1.01% | +2.99% | |
| 4 | NFJ | Virtus Dvd Intrst & Prm Str | Stock-Other | 3.98% | +0.42% | +0.03% | |
| 5 | XGDVX | Gabelli Dividend & Income Tr | Stock-Other | 3.53% | -0.27% | -8.36% | |
| 6 | PDX | Pimco Dynamic Income Strat | Stock-Other | 3.43% | -0.48% | — | |
| 7 | NBXG | Neuberger Next Generation Co | Stock-Other | 3.20% | +0.52% | — | |
| 8 | GAM | General American Investors | Stock-Other | 2.86% | -0.11% | -4.79% | |
| 9 | TSLA | Tesla Inc | Stock-Consumer Disc | 2.85% | -0.48% | -18.41% | |
| 10 | AMD | Advanced Micro Devices | Stock-Tech | 2.35% | +1.39% | -7.43% | |
| 11 | BPRE | Bluerock Private Real Estate | Stock-Financials | 2.25% | +0.06% | +41.46% | |
| 12 | NVDA | Nvidia CORP | Stock-Tech | 2.18% | -0.44% | -21.81% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.92% | -0.05% | +6.40% | |
| 14 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 1.87% | +0.86% | +25.28% | |
| 15 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 1.51% | +1.12% | +46.87% | |
| 16 | PEO | Adams Natural Resources Fund | Stock-Other | 1.44% | -0.30% | +0.29% | |
| 17 | AAPL | Apple Inc | Stock-Tech | 1.38% | +0.39% | +31.88% | |
| 18 | MEGI | Nyli Cbre Glbl Infr Mega Trm | Stock-Other | 1.33% | -0.33% | -16.74% | |
| 19 | MXF | Mexico Fund Inc | Stock-Other | 1.27% | +0.25% | +28.10% | |
| 20 | RMT | Royce Micro-cap Trust Inc | Stock-Other | 1.26% | +0.33% | +12.86% | |
| 21 | FSK | Fs Kkr Capital CORP | Stock-Financials | 1.14% | +0.15% | +20.11% | |
| 22 | XSSPX | Nuveen S&p 500 Dynam Overwr | Stock-Other | 1.13% | +0.45% | +54.03% | |
| 23 | HFRO | Highland Opport & Income | Stock-Other | 1.09% | +0.28% | +16.11% | |
| 24 | GF | New Germany Fund Inc/the | Stock-Other | 1.06% | +0.33% | +38.83% | |
| 25 | LEO | Bny Mellon Strategic Muni | Stock-Other | 1.01% | -0.05% | — | |
| 26 | BA | Boeing Co/the | Stock-Industrials | 0.90% | -0.54% | -38.32% | |
| 27 | DSM | Bnym Strat Muni Bnd | Stock-Other | 0.82% | -0.04% | — | |
| 28 | APO | Apollo Global Management Inc | Stock-Financials | 0.74% | -0.08% | -8.44% | |
| 29 | BTX | Blackrock Tech & Priv Eqty | Stock-Other | 0.72% | +0.58% | +307.80% | |
| 30 | ARES | Ares Management CORP - A | Stock-Financials | 0.71% | -0.02% | +3.59% | |
| 31 | EIDO | Ishares Msci Indonesia ETF | ETF-Other | 0.70% | +0.70% | NEW | |
| 32 | TY | Tri-continental CORP | Stock-Other | 0.61% | -0.03% | -6.17% | |
| 33 | RVT | Royce Small-cap Trust Inc | Stock-Other | 0.59% | +0.59% | NEW | |
| 34 | JOF | Japan Smaller Capitalization | Stock-Other | 0.59% | +0.11% | +21.66% | |
| 35 | CNNE | Cannae Holdings Inc | Stock-Other | 0.58% | +0.04% | -7.74% | |
| 36 | WB | Weibo Corp-spon Adr | Stock-Other | 0.58% | -0.01% | +27.50% | |
| 37 | AXP | American Express Co | Stock-Financials | 0.58% | -0.05% | -12.15% | |
| 38 | USA | Liberty All Star Equity Fund | Stock-Other | 0.58% | +0.58% | NEW | |
| 39 | MRVL | Marvell Technology Inc | Stock-Tech | 0.57% | +0.19% | -47.00% | |
| 40 | TWN | Taiwan Fund Inc/th/md-us Inc | Stock-Other | 0.56% | +0.15% | — | |
| 41 | GLO | Clough Global Opportunities | Stock-Other | 0.55% | +0.08% | +15.82% | |
| 42 | ECF | Ellsworth Growth And Income | Stock-Other | 0.54% | +0.05% | — | |
| 43 | BMEZ | Blackrock Hlth Sci Trm Tr Ii | Stock-Other | 0.53% | +0.23% | +77.51% | |
| 44 | GRX | Gabelli Healthcare & Well | Stock-Other | 0.51% | -0.02% | — | |
| 45 | NML | Neuberger Energy Infrastruct | Stock-Other | 0.51% | — | +11.97% | |
| 46 | SNAP | Snap Inc - A | Stock-Comm Services | 0.50% | -0.10% | -6.25% | |
| 47 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.49% | -0.07% | +16.32% | |
| 48 | EVTL | Vertical Aerospace Ltd. | Stock-Other | 0.47% | -0.24% | -9.65% | |
| 49 | SABA | Saba Capital Income & Opp Ii | Stock-Other | 0.47% | -0.03% | — | |
| 50 | IIF | Morgan Stanley India Invest | Stock-Other | 0.46% | +0.03% | +3.55% |
1–50 of 200
Portfolio Performance
Performance for Q3 2026
-0.6%
Performance Last 4 Quarters
+18.2%
- Stdev
- +15.5%
- Beta
- +1.07
- Alpha
- -7.6%
- Max Drawdown
- -8.3%
- Annualized Perf
- +13.4%
- Batting Avg vs S&P
- +30.6%
- Sortino
- +1.52
- Stutzer
- +0.26
- Treynor
- +0.13
- Sterling
- +0.76
- Calmar
- +1.62
- Information Ratio
- -0.87
- Tracking Error
- +7.1%
- Stdev Down
- +9.1%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +28.9%
- Worst 12 Months
- +3.1%
- Efficiency Ratio
- +0.32
- Sharpe
- +0.89
- Stdev Sectors
- +11.5%
- Skewness
- -0.14
- Kurtosis
- -0.66
- Upside Potential
- +3.36
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 400 | $3.9B | 37 | ||
| 2026 Q1 | 390 | $3.6B | 43 | ||
| 2025 Q4 | 350 | $3.4B | 47 | ||
| 2025 Q3 | 329 | $3.7B | 74 | ||
| 2025 Q2 | 322 | $4.3B | 0 | ||
| 2025 Q1 | 270 | $3.7B | 100 | ||
| 2024 Q4 | 286 | $4.3B | 0 | ||
| 2024 Q3 | 358 | $4.8B | 0 | ||
| 2024 Q2 | 385 | $6.0B | 0 | ||
| 2024 Q1 | 400 | $5.8B | 0 | ||
| 2023 Q4 | 494 | $5.0B | 0 | ||
| 2023 Q3 | 573 | $4.2B | 0 | ||
| 2023 Q2 | 627 | $3.8B | 0 | ||
| 2023 Q1 | 764 | $5.2B | 0 | ||
| 2022 Q4 | 922 | $7.4B | 0 | ||
| 2022 Q3 | 1125 | $8.9B | 0 | ||
| 2022 Q2 | 1106 | $8.6B | 0 | ||
| 2022 Q1 | 951 | $7.0B | 0 | ||
| 2021 Q4 | 736 | $6.6B | 0 | ||
| 2021 Q3 | 522 | $4.1B | 0 | ||
| 2021 Q2 | 437 | $3.5B | 89 | ||
| 2021 Q1 | 431 | $3.1B | 63 | ||
| 2020 Q4 | 167 | $2.4B | 50 | ||
| 2020 Q3 | 150 | $2.4B | 35 | ||
| 2020 Q2 | 116 | $2.3B | 44 | ||
| 2020 Q1 | 147 | $1.9B | 59 | ||
| 2019 Q4 | 91 | $2.1B | 39 | ||
| 2019 Q3 | 94 | $2.2B | 31 | ||
| 2019 Q2 | 110 | $2.3B | 42 | ||
| 2019 Q1 | 114 | $2.3B | 73 | ||
| 2018 Q4 | 165 | $2.8B | 91 | ||
| 2018 Q3 | 106 | $1.9B | 59 | ||
| 2018 Q2 | 94 | $1.6B | 65 | ||
| 2018 Q1 | 134 | $1.8B | 78 | ||
| 2017 Q4 | 136 | $1.3B | 77 | ||
| 2017 Q3 | 107 | $986.9M | 47 | ||
| 2017 Q2 | 103 | $1.1B | 33 | ||
| 2017 Q1 | 103 | $1.1B | 48 | ||
| 2016 Q4 | 94 | $983.7M | 85 | ||
| 2016 Q3 | 95 | $1.0B | 33 | ||
| 2016 Q2 | 97 | $1.1B | 41 | ||
| 2016 Q1 | 106 | $1.0B | 78 | ||
| 2015 Q4 | 99 | $1.0B | 54 | ||
| 2015 Q3 | 105 | $1.3B | 61 | ||
| 2015 Q2 | 123 | $999.4M | 65 | ||
| 2015 Q1 | 132 | $957.6M | 65 | ||
| 2014 Q4 | 147 | $1.2B | 58 | ||
| 2014 Q3 | 184 | $1.8B | 52 | ||
| 2014 Q2 | 197 | $1.9B | 83 | ||
| 2014 Q1 | 207 | $1.8B | 78 | ||
| 2013 Q4 | 201 | $1.7B | 91 | ||
| 2013 Q3 | 161 | $1.2B | 95 | ||
| 2013 Q2 | 88 | $810.8M | 0 |
Holding changes this quarter
Saba Capital Management, L.P.'s most significant position changes for 2026-06-30: Sold out: Qualcomm Inc (QCOM); Sold out: Crowdstrike Holdings Inc - A (CRWD); Sold out: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); New buy: Ishares Msci Indonesia ETF (EIDO); New buy: Royce Small-cap Trust Inc (RVT).
Showing top 200 changes by size (of 460 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMD | Advanced Micro Devices | +1.4% | -7.43% | Trim |
| 2 | PDD | Pdd Holdings Inc | +1.1% | +46.87% | Add |
| 3 | BSTZ | Blackrock Sci & Tech Trm Tr | +1% | +2.99% | Add |
| 4 | BABA | Alibaba Group Holding-sp Adr | +0.9% | +25.28% | Add |
| 5 | EIDO | Ishares Msci Indonesia ETF | +0.7% | NEW | New buy |
| 6 | RVT | Royce Small-cap Trust Inc | +0.6% | NEW | New buy |
| 7 | BTX | Blackrock Tech & Priv Eqty | +0.6% | +307.80% | Add |
| 8 | USA | Liberty All Star Equity Fund | +0.6% | NEW | New buy |
| 9 | NBXG | Neuberger Next Generation Co | +0.5% | — | Unchanged |
| 10 | JBLU | Jetblue Airways CORP | +0.5% | NEW | New buy |
| 11 | XSSPX | Nuveen S&p 500 Dynam Overwr | +0.5% | +54.03% | Add |
| 12 | DXYZ | Destiny Tech100 Inc | +0.4% | NEW | New buy |
| 13 | NFJ | Virtus Dvd Intrst & Prm Str | +0.4% | +0.03% | Add |
| 14 | WDAY | Workday Inc-class A | +0.4% | NEW | New buy |
| 15 | AAPL | Apple Inc | +0.4% | +31.88% | Add |
| 16 | INTU | Intuit Inc | +0.4% | NEW | New buy |
| 17 | RMT | Royce Micro-cap Trust Inc | +0.3% | +12.86% | Add |
| 18 | GF | New Germany Fund Inc/the | +0.3% | +38.83% | Add |
| 19 | HFRO | Highland Opport & Income | +0.3% | +16.11% | Add |
| 20 | WDC | Western Digital CORP | +0.3% | NEW | New buy |
| 21 | ✓ | +0.3% | NEW | New buy | |
| 22 | MXF | Mexico Fund Inc | +0.3% | +28.10% | Add |
| 23 | BMEZ | Blackrock Hlth Sci Trm Tr Ii | +0.2% | +77.51% | Add |
| 24 | KYN | Kayne Anderson Energy Infra | +0.2% | +4254.70% | Add |
| 25 | MRVL | Marvell Technology Inc | +0.2% | -47.00% | Trim |
| 26 | ✓ | +0.2% | NEW | New buy | |
| 27 | ✓ | +0.2% | NEW | New buy | |
| 28 | ✓ | +0.2% | NEW | New buy | |
| 29 | CAG | Conagra Brands Inc | +0.2% | +322.70% | Add |
| 30 | ✓ | +0.2% | NEW | New buy | |
| 31 | EMO | Clearbridge Energy Midstream | +0.2% | NEW | New buy |
| 32 | ✓ | +0.2% | NEW | New buy | |
| 33 | FSK | Fs Kkr Capital CORP | +0.2% | +20.11% | Add |
| 34 | TWN | Taiwan Fund Inc/th/md-us Inc | +0.2% | — | Unchanged |
| 35 | KF | Korea Fund Inc | +0.2% | +0.92% | Add |
| 36 | ✓ | +0.2% | NEW | New buy | |
| 37 | CYH | Community Health Systems Inc | +0.2% | +124.85% | Add |
| 38 | ✓ | +0.2% | NEW | New buy | |
| 39 | CHW | Calamos Global Dynamic Incom | +0.1% | +459.36% | Add |
| 40 | ZTR | Virtus Total Return Fund Inc | +0.1% | +70.66% | Add |
| 41 | WIW | Western Asst Infl-lnk Opp | +0.1% | +436.27% | Add |
| 42 | ✓ | +0.1% | NEW | New buy | |
| 43 | ETW | Eaton Vance T/m Glbl Buy-wr | +0.1% | NEW | New buy |
| 44 | ✓ | +0.1% | NEW | New buy | |
| 45 | ✓ | +0.1% | NEW | New buy | |
| 46 | JOF | Japan Smaller Capitalization | +0.1% | +21.66% | Add |
| 47 | CPZ | Calamos Lng/shrt Eqty & Dyn | +0.1% | NEW | New buy |
| 48 | MFM | Aberdeen Municipal Income | +0.1% | +285.23% | Add |
| 49 | NBIS | Nebius Group N.V. | +0.1% | NEW | New buy |
| 50 | XNIEX | Virtus Equity & Convertible | +0.1% | +31.70% | Add |
1–50 of 200
Filing History
FAQ
What is Saba Capital Management, L.P. and what type of investor is it?
Saba Capital Management, L.P. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $3.9B, spread across 400 disclosed positions.
What are Saba Capital Management, L.P.'s largest equity positions?
Based on the latest 13F filing, Saba Capital Management, L.P.'s top holdings by market value are:
1. ASA Gold and Precious Metals Limited (ASA) — $307.2M (7.9%)
2. Blackrock Esg Cap All Trm Tr (ECAT) — $276.9M (7.1%)
3. Blackrock Sci & Tech Trm Tr (BSTZ) — $171.1M (4.4%)
4. Virtus Dvd Intrst & Prm Str (NFJ) — $155.2M (4.0%)
5. Gabelli Dividend & Income Tr (XGDVX) — $137.6M (3.5%)
What changes did Saba Capital Management, L.P. make in its most recent portfolio filing?
In the latest reported quarter, Saba Capital Management, L.P. made 186 notable position adjustments: 53 new positions were initiated, 42 existing holdings were added to, 36 positions were partially reduced, and 55 were completely exited. The largest of these moves: Sold out: Qualcomm Inc (QCOM); Sold out: Crowdstrike Holdings Inc - A (CRWD); Sold out: Ishr Ibx Usd Invgd Cb Etf-ui (LQD); New buy: Ishares Msci Indonesia ETF (EIDO); New buy: Royce Small-cap Trust Inc (RVT)
What sectors does Saba Capital Management, L.P. focus on?
Saba Capital Management, L.P. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 33.3%
• Consumer Discretionary: 23.7%
• Financials: 23.6%
• Communication Services: 9.7%
• Industrials: 5.4%
• Consumer Staples: 2.1%
Investment Profile
Saba Capital Management, L.P. returned an annualized 13.4% over the trailing 36 months — underperforming the S&P 500 by 7.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.07 (roughly in line with the market) and a 31% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 33.3% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 37 over the past 4 quarters — a shift toward more active trading.
It has added to its META position over the past two quarters (+$72.8M, now $74.8M), while trimming ECAT over the same stretch (-$128.2M, still holding $276.9M).
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