Saba Capital Management, L.P. Q3 2025 Filing

Filed November 14, 2025

Portfolio Value

$3.7T

Holdings

310

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (310 positions)

#	Stock	Shares	Value	% Portfolio	Type
101	VERXVERTEX INC	203,474	$5.0B	0.14%
102	MFMMFS MUN INCOME TR	918,910	$5.0B	0.14%
103	XCAFXMORGAN STANLEY CHINA A SH FD	275,011	$4.6B	0.13%
104	MURMURPHY OIL CORP	160,298	$4.6B	0.12%
105	XJEQXABRDN JAPAN EQUITY FUND INC	551,552	$4.3B	0.12%
106	CEPFCANTOR EQUITY PARTNERS IV IN	406,500	$4.1B	0.11%
107	FMNFEDERATED HERMES PREM MUNI I	374,908	$4.1B	0.11%
108	EMBCEMBECTA CORP	292,209	$4.1B	0.11%
109	AESAES CORP	311,582	$4.1B	0.11%
110	XGLQXCLOUGH GLOBAL EQUITY FD	535,253	$4.1B	0.11%
111	NMLNEUBERGER BERMAN ENERGY INFR	464,003	$4.0B	0.11%
112	NXJNUVEEN NEW JERSEY QULT MUN F	319,759	$4.0B	0.11%
113	FFORD MTR CO	317,189	$3.8B	0.10%	Put
114	GLVCLOUGH GLOBAL DIVID & INCOME	628,316	$3.7B	0.10%
115	UISUNISYS CORP	935,855	$3.6B	0.10%
116	CEVEATON VANCE CALIF MUN INCOM	352,693	$3.6B	0.10%
117	REALTHE REALREAL INC	327,967	$3.5B	0.10%
118	TONXTON STRATEGY CO	488,263	$3.4B	0.09%
119	WGOWINNEBAGO INDS INC	101,884	$3.4B	0.09%
120	HOUSANYWHERE REAL ESTATE INC	309,691	$3.3B	0.09%
121	XPHDXPIONEER FLOATING RATE FUND I	319,614	$3.2B	0.09%
122	CEPFCANTOR EQUITY PARTNERS II IN	300,000	$3.2B	0.09%
123	CORZCORE SCIENTIFIC INC NEW	175,000	$3.1B	0.09%
124	TDSTELEPHONE & DATA SYS INC	80,000	$3.1B	0.09%
125	I9DNARBUTUS BIOPHARMA CORP	678,771	$3.1B	0.08%
126	VISNCOMMSCOPE HLDG CO INC	197,184	$3.1B	0.08%
127	ETHZETHZILLA CORPORATION	1,265,037	$3.0B	0.08%
128	PSNYPOLESTAR AUTOMOTIVE HLDG UK	3,193,804	$3.0B	0.08%
129	CYHCOMMUNITY HEALTH SYS INC NEW	900,808	$2.9B	0.08%
130	CFCF INDS HLDGS INC	31,813	$2.9B	0.08%	Put
131	IRENIREN LIMITED	60,000	$2.8B	0.08%
132	OLNOLIN CORP	111,447	$2.8B	0.08%
133	CHWCALAMOS GBL DYN INCOME FUND	368,645	$2.8B	0.08%
134	HEQJOHN HANCOCK DIVERSIFIED INC	253,370	$2.7B	0.07%
135	FCRSFUTURECREST ACQUISITION CORP	249,900	$2.6B	0.07%
136	—SPRING VY ACQUISITION CORP I	250,000	$2.6B	0.07%
137	FOUR 0 12/15/25SHIFT4 PMTS INC	2,500,000	$2.6B	0.07%
138	GEGGEO GROUP INC NEW	123,914	$2.5B	0.07%
139	CHECCHENGHE ACQUISITION III CO	252,900	$2.5B	0.07%
140	OTGAOTG ACQUISITION CORP. I	250,000	$2.5B	0.07%
141	MBVIM3-BRIGADE ACQUISITION VI CO	247,577	$2.5B	0.07%
142	CBRECBRE GROUP INC	15,000	$2.4B	0.06%
143	CPRICAPRI HOLDINGS LIMITED	110,773	$2.2B	0.06%
144	UBSUBS GROUP AG	53,700	$2.2B	0.06%	Put
145	VOYGVOYAGER TECHNOLOGIES INC	69,665	$2.1B	0.06%
146	TLNCUTALON CAP CORP	198,517	$2.0B	0.05%
147	CODICOMPASS DIVERSIFIED	300,932	$2.0B	0.05%
148	DMIIDRUGS MADE IN AMER ACQ II CO	199,500	$2.0B	0.05%
149	AEXAAMERICAN EXCEPTIONALISM ACQU	169,900	$1.9B	0.05%
150	SWZTOTAL RETURN SECURITIES FUND	302,612	$1.8B	0.05%
151	UBOTDIREXION SHS ETF TR	73,068	$1.8B	0.05%
152	DKNG 0 03/15/28DRAFTKINGS INC NEW	2,000,000	$1.8B	0.05%
153	GMGENERAL MTRS CO	28,600	$1.7B	0.05%
154	PLAYDAVE & BUSTERS ENTMT INC	95,309	$1.7B	0.05%
155	KYNKAYNE ANDERSON ENERGY INFRST	139,244	$1.7B	0.05%
156	ARBEARBE ROBOTICS LTD	1,000,000	$1.6B	0.05%
157	IONQ/WSIONQ INC	32,248	$1.6B	0.04%
158	EMPDEMPERY DIGITAL INC	211,346	$1.6B	0.04%
159	NUNU HLDGS LTD	94,800	$1.5B	0.04%	Put
160	HQHABRDN HEALTHCARE INVESTORS	80,556	$1.5B	0.04%
161	GLAD 5.875 10/01/30GLADSTONE CAP CORP	1,500,000	$1.5B	0.04%
162	MXEMEXICO EQUITY & INCOME FD	118,600	$1.4B	0.04%
163	PGZPRINCIPAL REAL ESTATE INCOME	132,451	$1.4B	0.04%
164	VFLABRDN NATL MUN INCOME FD	130,523	$1.3B	0.04%
165	ETORETORO GROUP LTD	31,441	$1.3B	0.04%
166	BTTBLACKROCK MUN TARGET TERM TR	53,509	$1.2B	0.03%
167	TYGTORTOISE ENERGY INFRA CORP	22,919	$987.6M	0.03%
168	TROXTRONOX HOLDINGS PLC	244,667	$983.6M	0.03%
169	KFKOREA FD INC	31,949	$977.2M	0.03%
170	RTACRENATUS TACTICAL ACQUIS	88,344	$963.8M	0.03%
171	WIWWESTERN AST INFL LKD OPP & I	100,000	$889.0M	0.02%
172	CMPSCOMPASS PATHWAYS PLC	151,033	$865.4M	0.02%
173	EOSEEOS ENERGY ENTERPRISES INC	70,000	$797.3M	0.02%	Put
174	EMFTEMPLETON EMERGING MKTS FD	44,869	$751.1M	0.02%
175	CRMLCRITICAL METALS CORP	317,899	$668.2M	0.02%
176	RDAGREPUBLIC DIGITAL ACQUISITION	949,999	$636.5M	0.02%
177	GRNTGRANITE RIDGE RESOURCES INC	115,878	$626.9M	0.02%
178	BZAIWBLAIZE HLDGS INC	989,878	$614.9M	0.02%
179	WENNWEN ACQUISITION CORP	981,614	$564.5M	0.02%
180	ETHMDYNAMIX CORP	252,283	$532.3M	0.01%
181	NCVVIRTUS CONVERTIBLE & INCOME	32,244	$483.7M	0.01%
182	CMPOWCOMPOSECURE INC	37,753	$481.9M	0.01%
183	SVACSPRING VALLEY ACQUISTN CORP	349,998	$463.7M	0.01%
184	BACQBLEICHROEDER ACQUISITION COR	719,489	$460.5M	0.01%
185	LZMLIFEZONE METALS LIMITED	733,811	$421.9M	0.01%
186	OPFI/WSOPPFI INC	153,564	$345.5M	0.01%
187	BTMWWBITCOIN DEPOT INC	1,357,795	$336.7M	0.01%
188	ARANTERO RESOURCES CORP	10,000	$335.6M	0.01%
189	PMTRPERIMETER ACQUISITION CORP I	554,845	$332.9M	0.01%
190	KOYNDIGITAL ASSET ACQUISITION CO	471,140	$320.4M	0.01%
191	FBYDWFALCONS BEYOND GLOBAL INC	186,852	$313.9M	0.01%
192	ZTRVIRTUS TOTAL RETURN FD INC	47,645	$307.3M	0.01%
193	—HCM II ACQUISITION CORP	48,932	$295.3M	0.01%
194	RAAQREAL ASSET ACQUISITION CORP	687,813	$292.3M	0.01%
195	OPTUALTICE USA INC	120,451	$290.3M	0.01%
196	FLDDWFOLD HLDGS INC	568,730	$285.4M	0.01%
197	TACOBERTO ACQUISITION CORP	406,561	$278.5M	0.01%
198	RFMZRIVERNORTH FLEXIBLE MUNI INC	21,077	$275.1M	0.01%
199	SVACSPRING VALLEY ACQUISTN CORP	500,000	$255.5M	0.01%
200	HCMAHCM III ACQUISITION CORP	333,333	$235.8M	0.01%

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