Saba Capital Management, L.P. Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$3.4B

Holdings

333

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (333 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	NAKAKINDLY MD INC	3,984,539	$1.4B	41.54%
2	ECATBLACKROCK ESG CAP ALLC TERM	26,336,257	$405.1M	12.04%
3	BZAIWBLAIZE HLDGS INC	874,225	$331.0M	9.84%
4	RAAQREAL ASSET ACQUISITION CORP	687,813	$326.0M	9.69%
5	ASAASA GOLD AND PRECIOUS MTLS L	5,391,713	$321.7M	9.56%
6	WENNWEN ACQUISITION CORP	981,614	$304.0M	9.03%
7	LZMLIFEZONE METALS LIMITED	733,811	$301.0M	8.94%
8	BGLBLUE GOLD LTD	484,298	$203.0M	6.03%
9	KOYNDIGITAL ASSET ACQUISITION CO	471,140	$197.0M	5.85%
10	—INFLECTION PT ACQUISITION CO	512,200	$193.0M	5.74%
11	HCMAHCM III ACQUISITION CORP	333,333	$166.0M	4.93%
12	TACOBERTO ACQUISITION CORP	406,561	$164.0M	4.87%
13	XGDVXGABELLI DIVID & INCOME TR	5,751,258	$159.7M	4.75%
14	RNGTWRANGE CAP ACQUISITION CORP I	487,499	$156.0M	4.64%
15	BTMWWBITCOIN DEPOT INC	1,357,795	$150.0M	4.46%
16	RDZNROADZEN INC	541,499	$148.0M	4.40%
17	PDXPIMCO DYNAMIC INCOME STRATEG	6,796,130	$127.6M	3.79%
18	PCAPPROCAP ACQUISITION CORP	333,332	$123.0M	3.66%
19	GAMGENERAL AMERN INVS CO INC	2,085,885	$122.5M	3.64%
20	FTWEQV VENTURES AC CORP. II	336,579	$112.0M	3.33%
21	NFJVIRTUS DIVIDEND INTEREST & P	8,640,031	$111.4M	3.31%
22	NBXGNEUBERGER NEXT GENERATION	7,695,235	$111.1M	3.30%
23	BSTZBLACKROCK SCIENCE & TECHNOLO	4,557,491	$103.0M	3.06%
24	FLDDWFOLD HLDGS INC	568,730	$93.0M	2.76%
25	FUFUBITFUFU INC	414,140	$92.0M	2.73%
26	EVOXEVOLUTION GLOBAL ACQUISITION	225,000	$92.0M	2.73%
27	MLACMOUNTAIN LAKE ACQUISITION CO	350,017	$84.0M	2.50%
28	—APEX TREAS CORP	299,999	$83.0M	2.47%
29	—AGRICULTURE & NAT SOL ACQ CO	249,200	$83.0M	2.47%
30	FACTFACT II ACQUISITION CORP	237,350	$83.0M	2.47%
31	OPTXWSYNTEC OPTICS HLDGS INC	332,000	$79.0M	2.35%
32	MEGINYLI CBRE GBL INFR MEGTRNDS	5,593,758	$77.0M	2.29%
33	MACIMELAR ACQUISITION CORP. I	438,551	$70.0M	2.08%
34	DYORINSIGHT DIGITAL PARTNERS II	196,682	$69.0M	2.05%
35	HOVRWNEW HORIZON AIRCRAFT LTD	199,659	$63.0M	1.87%
36	FLYX/WSFLYEXCLUSIVE INC	230,500	$61.0M	1.81%
37	DNMXDYNAMIX CORP III	174,999	$60.0M	1.78%
38	AIIAAI INFRASTRUCTURE ACQUISI	227,000	$60.0M	1.78%
39	TSLATESLA INC	131,261	$59.0M	1.75%	Put
40	PEOADAM NAT RES FD INC	2,698,250	$58.7M	1.74%
41	GCTS/WSGCT SEMICONDUCTOR HLDG INC	710,648	$58.0M	1.72%
42	DAICWCID HOLDCO INC	726,048	$58.0M	1.72%
43	CRWDCROWDSTRIKE HLDGS INC	112,649	$52.8M	1.57%	Put
44	GPATGP-ACT III ACQUISITION CORP	193,229	$52.0M	1.55%
45	HVIIUHENNESSY CAP INVT CORP VII	175,000	$48.0M	1.43%
46	BPREBLUEROCK PVT REAL ESTATE FD	3,074,615	$46.1M	1.37%
47	NVDANVIDIA CORPORATION	243,979	$45.5M	1.35%	Put
48	LWACLIGHTWAVE ACQUISITION CORP	197,486	$45.0M	1.34%
49	SBCWWSBC MED GROUP HLDGS INC	200,000	$45.0M	1.34%
50	QCOMQUALCOMM INC	253,064	$43.3M	1.29%	Put
51	HLLY/WSHOLLEY INC	298,716	$43.0M	1.28%
52	SCAGSCAGE FUTURE	660,109	$41.0M	1.22%
53	OTGAOTG ACQUISITION CORP. I	125,000	$40.0M	1.19%
54	LEOBNY MELLON STRATEGIC MUNS IN	6,076,820	$38.6M	1.15%
55	BABOEING CO	166,892	$36.2M	1.08%	Put
56	AMDADVANCED MICRO DEVICES INC	168,679	$36.1M	1.07%	Put
57	FUSEWFUSEMACHINES INC	524,998	$36.0M	1.07%
58	AAPLAPPLE INC	131,645	$35.8M	1.06%	Put
59	NQPNUVEEN PENNSYLVANIA QLT MUN	2,998,620	$35.7M	1.06%
60	HQLABRDN LIFE SCIENCES INVESTOR	2,117,174	$35.5M	1.06%
61	MXFMEXICO FD INC	1,691,300	$34.1M	1.01%
62	BABAALIBABA GROUP HLDG LTD	218,686	$32.1M	0.95%	Put
63	DSMBNY MELLON STRATEGIC MUN BD	5,179,441	$32.0M	0.95%
64	FOXXWFOXX DEV HLDGS INC	244,962	$30.0M	0.89%
65	XBOEXBLACKROCK ENHANCED GLOBAL DI	2,555,063	$29.9M	0.89%
66	AFBALLIANCEBERNSTEIN NATL MUN I	2,760,256	$29.9M	0.89%
67	PLMKPLUM ACQUISITION CORP IV	99,999	$29.0M	0.86%
68	HFROHIGHLAND OPPS & INCOME FD	4,674,016	$27.9M	0.83%
69	RMTROYCE MICRO-CAP TR INC	2,614,909	$27.3M	0.81%
70	ZEOWWZEO ENERGY CORP	726,030	$27.0M	0.80%
71	CNNECANNAE HLDGS INC	1,714,994	$27.0M	0.80%
72	SHOPSHOPIFY INC	163,479	$26.3M	0.78%	Put
73	MDAIWSPECTRAL AI INC	59,763	$26.0M	0.77%
74	MIGASTRATEGY INC	170,000	$25.8M	0.77%	Put
75	GFNEW GERMANY FD INC	2,210,555	$25.2M	0.75%
76	GRABGRAB HOLDINGS LIMITED	84,913	$25.0M	0.74%
77	IIFMORGAN STANLEY INDIA INVT FD	988,924	$24.7M	0.73%
78	DIAXNUVEEN DOW 30 DYNMC OVERWRT	1,599,746	$24.4M	0.73%
79	RVTROYCE SMALL CAP TRUST INC	1,437,153	$23.1M	0.69%
80	SIMASIM ACQUISITION CORP. I	111,217	$23.0M	0.68%
81	TYTRI CONTL CORP	701,601	$22.9M	0.68%
82	EVTLVERTICAL AEROSPACE LTD	3,949,044	$21.0M	0.63%
83	VSEEWVSEE HEALTH INC	243,249	$21.0M	0.62%
84	—NEWHOLD INVT CORP III	49,998	$21.0M	0.62%
85	EONR/WSEON RESOURCES INC	500,000	$21.0M	0.62%
86	WBWEIBO CORP	2,015,063	$20.6M	0.61%
87	GRXGABELLI HLTHCARE & WELLNESS	2,118,201	$20.4M	0.61%
88	ALFCENTURION ACQUISITION CORP	71,410	$20.0M	0.59%
89	DMADESTRA MULTI-ALTERNATIVE FD	2,220,648	$19.9M	0.59%
90	ECFELLSWORTH GROWTH & INCOME FD	1,680,620	$19.5M	0.58%
91	BMBLBUMBLE INC	5,337,549	$19.1M	0.57%
92	ASBPWASPIRE BIOPHARMA HLDGS INC	983,603	$19.0M	0.56%
93	JOFJAPAN SMALLER CAPITALIZATION	1,632,530	$18.1M	0.54%
94	SABASABA CAPITAL INCOME & OPPORT	2,190,968	$18.1M	0.54%
95	SBXDSILVERBOX CORP IV	67,710	$18.0M	0.53%
96	GLOCLOUGH GLOBAL OPPORTUNITIES	3,045,940	$17.2M	0.51%
97	DMBBNY MELLON MUN BD INFRASTRUC	1,565,016	$17.2M	0.51%
98	—CYCURION INC	500,000	$17.0M	0.51%
99	RDAGREPUBLIC DIGITAL ACQUISITION	1,645,960	$16.7M	0.50%
100	ABPWWABPRO HLDGS INC	997,048	$16.0M	0.48%

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