DaveManuel.com · Institutional Ownership · 13F Holdings

Saba Capital Management, L.P.

Reported holdings as of Q2 2026, from 31 quarterly filings.

CIK

1510281

Reported value

$3.9B

Positions

384

Top 10 weight

41.6%

Filed

2026-08-14

Days after quarter end

Holdings

Download these holdings as CSV

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
ASA GOLD AND PRECIOUS MTLS L	ASA	$307.2M	5,903,701	7.88%	-2.23pp	15q	HELD
BLACKROCK ESG CAP ALLC TERM	ECAT	$276.9M	17,612,449	7.10%	-1.16pp	17q	-20.0%-$69.3M
BLACKROCK SCIENCE & TECHNOLO	BSTZ	$171.1M	5,696,873	4.39%	+1.00pp	15q	+3.0%+$5.0M
VIRTUS DIVIDEND INTEREST & P	NFJ	$155.2M	10,216,703	3.98%	+0.42pp	22q	HELD
GABELLI DIVID & INCOME TR	GDV	$137.6M	4,679,415	3.53%	-0.27pp	11q	-8.4%-$12.6M
PIMCO DYNAMIC INCOME STRATEG	PDX	$133.6M	6,416,087	3.43%	-0.48pp	19q	HELD
NEUBERGER NEXT GENERATION	NBXG	$124.8M	7,548,223	3.20%	+0.52pp	19q	HELD
GENERAL AMERN INVS CO INC	GAM	$111.7M	1,751,470	2.86%	-0.11pp	31q	-4.8%-$5.6M
TESLA INC CALL+PUT	TSLA	$111.2M	31,837	2.85%	-0.47pp	4q	-59.6%-$164.2M
ADVANCED MICRO DEVICES INC PUT	AMD	$91.7M	options only	2.35%	+1.39pp	5q	OPTIONS
BLUEROCK PVT REAL ESTATE FD	BPRE	$87.7M	6,742,126	2.25%	+0.06pp	3q	+41.5%+$25.7M
NVIDIA CORPORATION PUT	NVDA	$85.0M	36,415	2.18%	-0.44pp	5q	-68.1%-$181.2M
META PLATFORMS INC CALL+PUT	META	$74.8M	32,275	1.92%	-0.05pp	3q	-9.3%-$7.7M
ALIBABA GROUP HLDG LTD PUT	BABA	$73.1M	172,007	1.87%	+0.86pp	3q	+75.8%+$31.5M
PDD HOLDINGS INC PUT	PDD	$58.7M	116,400	1.51%	+1.12pp	4q	+124.4%+$32.6M
ADAM NAT RES FD INC	PEO	$56.1M	2,269,294	1.44%	-0.30pp	15q	HELD
APPLE INC PUT	AAPL	$53.7M	31,981	1.38%	+0.39pp	3q	-12.4%-$7.6M
NYLIM CBRE GLOBAL	MEGI	$51.8M	3,409,677	1.33%	-0.33pp	16q	-16.7%-$10.4M
MEXICO FD INC	MXF	$49.4M	2,260,134	1.27%	+0.25pp	5q	+28.1%+$10.8M
ROYCE MICRO-CAP TR INC	RMT	$49.0M	3,346,703	1.26%	+0.33pp	9q	+12.9%+$5.6M
FS KKR CAP CORP	FSK	$44.3M	4,215,619	1.14%	+0.15pp	2q	+20.1%+$7.4M
NUVEEN S&P 500 DYNAMIC OVERW	SPXX	$44.1M	2,368,022	1.13%	+0.45pp	2q	+54.0%+$15.5M
HIGHLAND OPPS & INCOME FD	HFRO	$42.6M	5,976,204	1.09%	+0.28pp	5q	+16.1%+$5.9M
NEW GERMANY FD INC	GF	$41.3M	3,602,815	1.06%	+0.33pp	8q	+38.8%+$11.5M
BNY MELLON STRATEGIC MUNS IN	LEO	$39.3M	6,076,820	1.01%	-0.05pp	11q	HELD
BOEING CO PUT	BA	$35.0M	33,606	0.90%	-0.54pp	5q	-54.6%-$42.0M
BNY MELLON STRATEGIC MUN BD	DSM	$31.9M	5,179,441	0.82%	-0.04pp	15q	HELD
APOLLO GLOBAL MGMT INC	APO	$29.0M	245,078	0.74%	-0.08pp	2q	-8.4%-$2.7M
BLACKROCK TECH AND PRIVATE E	BTX	$28.1M	3,116,387	0.72%	+0.58pp	2q	+307.8%+$21.2M
ARES MANAGEMENT CORPORATION	ARES	$27.8M	249,745	0.71%	-0.01pp	2q	+3.6%+$962.6K
ISHARES TR	EIDO	$27.3M	2,413,286	0.70%	-	new	NEW
TRI CONTL CORP	TY	$23.7M	689,725	0.61%	-0.03pp	5q	-6.2%-$1.6M
ROYCE SMALL CAP TRUST INC	RVT	$23.0M	1,247,806	0.59%	-	new	NEW
JAPAN SMALLER CAPITALIZATION	JOF	$23.0M	1,948,781	0.59%	+0.11pp	11q	+21.7%+$4.1M
CANNAE HLDGS INC	CNNE	$22.8M	1,582,225	0.58%	+0.05pp	9q	-7.7%-$1.9M
WEIBO CORP	WB	$22.6M	3,107,526	0.58%	-0.01pp	11q	+27.5%+$4.9M
AMERICAN EXPRESS CO PUT	AXP	$22.5M	15,539	0.58%	-0.06pp	3q	-37.2%-$13.3M
LIBERTY ALL STAR EQUITY FD	USA	$22.4M	3,859,939	0.58%	-	new	NEW
MARVELL TECHNOLOGY INC PUT	MRVL	$22.1M	options only	0.57%	+0.18pp	2q	OPTIONS
TAIWAN FD INC	TWN	$21.8M	226,694	0.56%	+0.15pp	19q	HELD
CLOUGH GLOBAL OPPORTUNITIES	GLO	$21.5M	3,507,188	0.55%	+0.08pp	13q	+15.8%+$2.9M
ELLSWORTH GROWTH & INCOME FD	ECF	$21.2M	1,604,273	0.54%	+0.05pp	18q	HELD
BLACKROCK HEALTH SCIENCES TE	BMEZ	$20.7M	1,348,202	0.53%	+0.23pp	2q	+77.5%+$9.0M
GABELLI HEALTHCARE & WELLNES	GRX	$20.0M	2,118,201	0.51%	-0.02pp	11q	HELD
NEUBERGER ENGY INFRSTR & INC	NML	$19.8M	1,951,651	0.51%	flat	18q	+12.0%+$2.1M
Snap, Inc.	SNAP	$19.7M	4,432,541	0.50%	-0.10pp	8q	-6.2%-$1.3M
PALANTIR TECHNOLOGIES INC PUT	PLTR	$18.9M	53,369	0.49%	-0.08pp	2q	+74.3%+$8.1M
VERTICAL AEROSPACE LTD	EVTL	$18.3M	10,516,710	0.47%	-0.24pp	6q	-9.7%-$2.0M
SABA CAPITAL INCOME & OPPORT	SABA	$18.3M	2,190,968	0.47%	-0.03pp	9q	HELD
MORGAN STANLEY INDIA INVT FD	IIF	$17.9M	782,728	0.46%	+0.03pp	8q	+3.5%+$612.3K
JETBLUE AIRWAYS CORP PUT	JBLU	$17.8M	options only	0.46%	-	new	OPTIONS
BUMBLE INC	BMBL	$17.8M	5,558,395	0.46%	-0.02pp	8q	+4.1%+$706.7K
BNY MELLON MUN BD INFRASTRUC	DMB	$17.3M	1,565,216	0.44%	-0.01pp	10q	HELD
M3BRIGADE ACQUISITION V CORP CL A	VLOS	$17.2M	1,585,000	0.44%	-0.03pp	3q	HELD
DESTRA MULTI-ALTERNATIVE FD	DMA	$16.6M	2,220,648	0.43%	-0.07pp	12q	HELD
DESTINY TECH100 INC	DXYZ	$16.6M	644,280	0.43%	-	new	NEW
KOREA FD INC	KF	$16.6M	220,140	0.42%	+0.15pp	5q	+0.9%+$150.5K
STRATEGY INC PUT	MSTR	$16.5M	options only	0.42%	+0.08pp	3q	OPTIONS
WORKDAY INC	WDAY	$16.1M	131,171	0.41%	-	new	NEW
VOYA ASIA PAC HIGH DIV EQT I	IAE	$15.0M	1,618,753	0.39%	+0.06pp	15q	HELD
INTUIT	INTU	$14.0M	53,690	0.36%	-	new	NEW
VIRTUS TOTAL RETURN FD INC	ZTR	$13.2M	1,936,491	0.34%	+0.13pp	2q	+70.7%+$5.5M
REPUBLIC DIGITAL ACQUISITION	RDAG	$12.9M	1,245,958	0.33%	-0.06pp	5q	-10.7%-$1.5M
VIRTUS EQUITY & CONV INCM FD	NIE	$12.8M	475,853	0.33%	+0.09pp	3q	+31.7%+$3.1M
BLACKSTONE INC	BX	$12.4M	105,567	0.32%	-0.35pp	2q	-50.0%-$12.4M
CAPITAL ONE FINL CORP PUT	COF	$12.3M	20,939	0.31%	-0.02pp	3q	-18.0%-$2.7M
SHOPIFY INC PUT	SHOP	$12.1M	42,586	0.31%	-0.36pp	4q	-39.7%-$8.0M
PAGSEGURO DIGITAL LTD	PAGS	$11.7M	1,293,415	0.30%	-0.06pp	15q	HELD
TASKUS INC	TASK	$10.8M	2,301,712	0.28%	-0.11pp	2q	+10.2%+$996.6K
WESTERN DIGITAL CORP PUT	WDC	$10.3M	options only	0.27%	-	new	OPTIONS
BERTO ACQUISITION CORP II	GUACU	$10.3M	1,018,457	0.26%	-	new	NEW
VOYA EMERGING MKTS HIGH DIVI	IHD	$10.2M	1,305,586	0.26%	+0.02pp	20q	HELD
ONEIM ACQU	OIM	$10.1M	1,001,863	0.26%	-0.16pp	2q	-33.7%-$5.1M
Sabre Corp	SABR	$9.8M	4,710,309	0.25%	-0.01pp	8q	-27.4%-$3.7M
COMMUNITY HEALTH SYS INC NEW	CYH	$9.6M	2,882,169	0.25%	+0.14pp	5q	+124.8%+$5.3M
MORGAN STANLEY CHINA A SH FD	CAF	$9.5M	450,836	0.24%	-0.01pp	5q	-14.3%-$1.6M
CONAGRA BRANDS INC	CAG	$9.2M	683,124	0.24%	+0.17pp	3q	+322.7%+$7.0M
THE CAMPBELLS COMPANY	CPB	$8.2M	367,598	0.21%	+0.02pp	3q	+16.5%+$1.2M
SYNCHRONY FINANCIAL PUT	SYF	$7.9M	27,622	0.20%	-0.02pp	3q	-30.4%-$3.5M
HCM III ACQUISITION CORP O	HCMA	$7.7M	749,650	0.20%	-0.07pp	4q	-21.1%-$2.1M
COINBASE GLOBAL INC		$7.6M	8,500,000	0.20%	-0.02pp	2q	DEBT
KAYNE ANDERSON ENERGY INFRST	KYN	$7.6M	550,782	0.20%	+0.19pp	5q	+4254.7%+$7.4M
WEN ACQUISITION CORP	WENN	$7.3M	713,222	0.19%	-0.11pp	4q	-32.9%-$3.6M
HUDSON PACIFIC PROPERTIES IN	HPP	$7.2M	476,515	0.19%	+0.05pp	3q	-42.7%-$5.4M
Futurecorp Space Acquisition Unit 99/99/9999	FTRAU	$7.1M	700,100	0.18%	-	new	NEW
CARTESIAN GROWTH CORP IV	CGCFU	$7.0M	700,000	0.18%	-	new	NEW
KPET ULTRA PACELINE CORP	KPET	$7.0M	698,800	0.18%	-	new	NEW
STAR HLDGS	STHO	$6.9M	757,228	0.18%	-0.02pp	13q	-18.7%-$1.6M
BANCROFT FD LTD	BCV	$6.9M	265,074	0.18%	+0.01pp	13q	-4.5%-$322.4K
PERIMETER ACQUISITION CORP I COM C	PMTR	$6.8M	649,940	0.17%	-0.05pp	5q	-19.2%-$1.6M
CLOUGH GLOBAL EQUITY FD	GLQ	$6.7M	774,988	0.17%	-0.02pp	14q	-16.9%-$1.4M
PIMCO CALIF MUN INCOME FD	PCQ	$6.5M	725,010	0.17%	flat	4q	+4.8%+$295.5K
HCM IV ACQUISITION CORP	HACQ	$6.4M	640,000	0.16%	-	new	NEW
WESTERN AST INFL LKD OPP & I	WIW	$6.3M	753,909	0.16%	+0.13pp	4q	+436.3%+$5.2M
CLEARBRIDGE ENERGY MIDSTREAM	EMO	$6.3M	126,112	0.16%	-	new	NEW
CALAMOS GBL DYN INCOME FUND	CHW	$6.1M	683,781	0.16%	+0.13pp	4q	+459.4%+$5.0M
FORTRESS V	FVAV	$6.1M	600,000	0.16%	-0.01pp	2q	HELD
Cantor Equity Partners VII Inc	CAES	$6.1M	600,000	0.16%	-	new	NEW
YORKVILLE INTL CAP CORP	YICCU	$6.0M	600,000	0.15%	-	new	NEW
CLOUGH GLOBAL DIV AND INC	GLV	$6.0M	899,323	0.15%	+0.03pp	14q	+16.8%+$856.8K
VIRTUS CONVERTIBLE & INCOME	NCV	$5.9M	336,482	0.15%	-0.15pp	5q	-53.5%-$6.8M
TEMPLETON DRAGON FD INC	TDF	$5.9M	539,260	0.15%	-0.01pp	5q	HELD
RANGE CAP ACQUISITION CORP I CL A O	RNGT	$5.8M	574,531	0.15%	-0.01pp	3q	HELD
EATON VANCE SR FLTNG RTE TR	EFR	$5.8M	544,453	0.15%	+0.07pp	2q	+108.0%+$3.0M
ABERDEEN MUN INCOME FD	MFM	$5.8M	1,023,943	0.15%	+0.11pp	15q	+285.2%+$4.3M
METALS ACQUISITION CORP II	MTAL	$5.7M	564,436	0.15%	-	new	NEW
EQV VENTURES AC CORP. II O	EVAC	$5.7M	559,738	0.15%	-0.01pp	4q	HELD
TRAILBLAZER ACQUISITION CORP ORD SH	BLZR	$5.4M	536,151	0.14%	-0.01pp	3q	HELD
NEWELL BRANDS INC	NWL	$5.4M	880,417	0.14%	-0.03pp	3q	-51.0%-$5.6M
SPRING VY ACQUISITION CORP I	SVIV	$5.2M	511,515	0.13%	-0.01pp	2q	HELD
CANTOR EQUITY PARTNERS V INC	CEPV	$5.2M	500,000	0.13%	-0.01pp	3q	HELD
COHEN CIRC	CCII	$5.1M	499,900	0.13%	-0.01pp	4q	HELD
VIRTUS ARTIFICIAL INTELLIGEN	AIO	$5.1M	179,928	0.13%	-0.01pp	2q	-26.2%-$1.8M
DIGITAL ASSET ACQUISITION CO	DAAQ	$5.0M	483,000	0.13%	-0.04pp	5q	-19.5%-$1.2M
Wilco 63 Corp	WLCOU	$5.0M	500,000	0.13%	-	new	NEW
DUFF & PHELPS UTLITY AND INF	DPG	$4.8M	325,964	0.12%	+0.06pp	3q	+88.7%+$2.3M
BAXTER INTL INC	BAX	$4.8M	224,815	0.12%	+0.01pp	3q	-6.1%-$310.8K
EATON VANCE TAX-MANAGED GLOB	ETW	$4.7M	490,828	0.12%	-	new	NEW
BAIN CAP GSS INVT CORP	BCSS	$4.7M	455,777	0.12%	-0.03pp	3q	-14.9%-$819.6K
Willow Lane Acquisition Corp II	WLII	$4.7M	454,688	0.12%	-	new	NEW
Inflection Point Acquisition Corp VI	IPFX	$4.6M	442,780	0.12%	-	new	NEW
CALAMOS LNG SHR EQT DYNAMIC	CPZ	$4.4M	335,551	0.11%	-	new	NEW
DAVE & BUSTERS ENTMT INC	PLAY	$4.4M	382,606	0.11%	flat	5q	HELD
1RT ACQUIS	ONCH	$4.4M	424,932	0.11%	-0.04pp	4q	-19.1%-$1.0M
CANTOR EQU	CEPF	$4.2M	406,500	0.11%	-0.01pp	4q	HELD
NEBIUS GROUP N.V. PUT	NBIS	$4.1M	options only	0.11%	-	new	OPTIONS
Compass Diversified Holdings	CODI	$3.8M	356,181	0.10%	flat	8q	-17.0%-$779.0K
BLACKROCK ENHANCED INTL DIV	BGY	$3.8M	654,822	0.10%	-	new	NEW
HALL CHADWICK ACQUISITION CO	HCAC	$3.7M	369,415	0.10%	-0.01pp	2q	HELD
COMPASS INC	COMP	$3.7M	299,999	0.09%	+0.07pp	2q	+134.9%+$2.1M
UNISYS CORP	UIS	$3.6M	988,696	0.09%	-0.01pp	15q	-44.8%-$2.9M
CHIPOTLE MEXICAN GRILL INC	CMG	$3.6M	105,550	0.09%	flat	3q	HELD
NEWHOLD INVTS CORP IV	NHIVU	$3.6M	350,000	0.09%	-	new	NEW
CEA INDUSTRIES INC COM	BNC	$3.3M	1,225,620	0.09%	-0.01pp	4q	+7.2%+$223.3K
CHURCHILL CAP CORP XII	CXIIU	$3.2M	300,000	0.08%	-	new	NEW
ORACLE CORP	ORCL	$3.2M	22,000	0.08%	flat	3q	+3.3%+$101.6K
NETFLIX INC.	NFLX	$3.2M	45,000	0.08%	flat	2q	+38.9%+$899.4K
DIREXION SHS ETF TR	UBOT	$3.2M	121,280	0.08%	+0.02pp	4q	+9.0%+$259.9K
CANTOR EQUITY PARTNERS VI IN	CEPS	$3.1M	300,000	0.08%	flat	2q	HELD
VERTEX INC	VERX	$3.0M	263,474	0.08%	-0.01pp	9q	HELD
Ares Acquisition Corp Iii Unit 99/99/9999	AACU	$3.0M	300,000	0.08%	-	new	NEW
Keystone Acquisition Corp	KEYY	$3.0M	299,995	0.08%	-	new	NEW
JAMES HARDIE INDS PLC	JHX	$2.9M	110,325	0.07%	-	new	NEW
GDS HLDGS LTD	GDS	$2.8M	93,820	0.07%	-0.01pp	8q	+34.0%+$715.3K
BEAZER HOMES USA INC	BZH	$2.8M	98,452	0.07%	-	new	NEW
TELEPHONE DATA SYSTEM INC	TDS	$2.8M	74,484	0.07%	-0.02pp	5q	HELD
CONSTELLATION ENERGY CORP	CEG	$2.7M	10,813	0.07%	-	new	NEW
FUTURECREST ACQUISITION CORP CL A O	FCRS	$2.7M	259,209	0.07%	-0.02pp	3q	-17.7%-$575.3K
PIMCO NEW YORK MUN FD II	PNI	$2.6M	369,392	0.07%	-0.01pp	2q	-14.9%-$459.1K
TRUMP MEDIA & TECHNOLOGY GRO	DJT	$2.6M	333,802	0.07%	-0.02pp	5q	HELD
COLUMBUS CIRCLE CAP CORP II	IPXG	$2.5M	249,036	0.06%	-0.10pp	2q	-58.5%-$3.6M
IRENIC ACQUISITION CORP	IACQ	$2.5M	250,000	0.06%	-	new	NEW
AVERIN CAP ACQUISITION CORP	ACAA	$2.5M	250,000	0.06%	-	new	NEW
AXON ENTERPRISE INC	AXON	$2.5M	4,439	0.06%	-	new	NEW
GRUPO AEROMEXICO SAB DE CV	AERO	$2.5M	138,075	0.06%	-	new	NEW
LIBERTY ALL-STAR GROWTH FD I	ASG	$2.4M	443,199	0.06%	-	new	NEW
TOTAL RETURN SECURITIES FUND	SWZ	$2.4M	404,080	0.06%	flat	8q	HELD
UBER TECHNOLOGIES INC	UBER	$2.4M	33,138	0.06%	flat	8q	HELD
ETORO GROUP LTD	ETOR	$2.3M	59,033	0.06%	-0.11pp	5q	-71.0%-$5.7M
RICE ACQUISITION CORP 3	KRSP	$2.3M	221,433	0.06%	flat	3q	HELD
KRAKACQUISITION CORPORATION	KRAQ	$2.3M	232,462	0.06%	-0.04pp	2q	-39.4%-$1.5M
NUVEEN CHURCHILL DIRECT LEND	NCDL	$2.2M	177,776	0.06%	-	new	NEW
MIDCAP FINANCIAL INVSTMNT CO	MFIC	$2.2M	215,136	0.06%	-	new	NEW
BABCOCK & WILCOX ENTERPRISES	BW	$2.0M	145,000	0.05%	-0.07pp	3q	-51.8%-$2.2M
CBRE GROUP INC	CBRE	$2.0M	15,000	0.05%	flat	6q	HELD
OLIN CORP	OLN	$2.0M	101,910	0.05%	-0.02pp	4q	+21.3%+$354.3K
ETHZILLA CORPORATION COM SHS	FRMM	$2.0M	371,561	0.05%	+0.01pp	3q	-22.7%-$592.7K
POLESTAR AUTOMOTIVE HLDG UK	PSNY	$2.0M	106,457	0.05%	flat	3q	HELD
GENERAL MTRS CO	GM	$1.9M	24,867	0.05%	flat	14q	HELD
WINNEBAGO INDS INC	WGO	$1.8M	58,750	0.05%	+0.02pp	6q	+74.1%+$781.0K
TON Strategy Co	TONX	$1.8M	717,327	0.05%	-0.01pp	4q	-9.3%-$188.5K
CAPRI HOLDINGS LIMITED	CPRI	$1.8M	98,273	0.05%	flat	7q	HELD
AVAX ONE TECHNOLOGY LTD	AVX	$1.8M	348,264	0.05%	-	new	NEW
ZSCALER INC	ZS	$1.8M	12,509	0.05%	+0.01pp	2q	+38.9%+$494.0K
Sharps Technology Inc	SKYA	$1.7M	1,511,988	0.04%	-0.03pp	3q	HELD
IREN LIMITED	IREN	$1.6M	35,926	0.04%	-0.01pp	6q	-34.7%-$872.3K
BLACKSTONE LONG SHORT CR INC	BGX	$1.6M	149,494	0.04%	flat	2q	+3.9%+$61.1K
ASP ISOTOPES INC	ASPI	$1.6M	261,470	0.04%	flat	3q	-26.9%-$598.1K
JD.COM INC	JD	$1.6M	61,868	0.04%	-	new	NEW
ABRDN LIFE SCIENCES INVESTOR	HQL	$1.6M	78,095	0.04%	-0.39pp	13q	-91.8%-$17.4M
Gores Holdings Xi Inc Unit 06/24/2031	GHXIU	$1.5M	150,000	0.04%	-	new	NEW
Kensington Cap Acquisition Unit 99/99/9999	KCAU	$1.5M	150,000	0.04%	-	new	NEW
Tribeca Strategic Acquisitio Unit 05/22/2031	BIDWU	$1.5M	150,000	0.04%	-	new	NEW
MEXICO EQUITY & INCOME FD	MXE	$1.5M	112,415	0.04%	flat	13q	HELD
FS SPECIALTY LENDING FD	FSSL	$1.4M	128,092	0.04%	-	new	NEW
Spartacus Acquisition Corp II	TMTS	$1.4M	141,056	0.04%	-	new	NEW
AIRSCULPT TECHNOLOGIES INC	AIRS	$1.4M	313,043	0.04%	+0.01pp	3q	HELD
SLR INVESTMENT CORP	SLRC	$1.4M	113,038	0.04%	-	new	NEW
BLACKROCK ENERGY & RES TR	BGR	$1.4M	93,440	0.04%	-	new	NEW
IONQ INC	IONQWS	$1.4M	32,248	0.03%	+0.02pp	9q	HELD
SPACE ASSET ACQUISITION CORP	SAAQ	$1.3M	131,482	0.03%	-0.08pp	2q	-67.0%-$2.7M
LEAPFROG ACQUISITION CORP	LFAC	$1.3M	128,442	0.03%	flat	2q	-3.1%-$41.0K
RENATUS TACTICAL ACQUIS SHS CL A	RTAC	$1.3M	121,261	0.03%	+0.01pp	5q	+37.3%+$345.0K
EMBECTA CORP	EMBC	$1.3M	387,305	0.03%	-0.06pp	6q	+0.7%+$8.8K
VIRTUS CONVERTIBLE & INC FD	NCZ	$1.2M	77,617	0.03%	-0.10pp	2q	-77.9%-$4.4M
PALOMA ACQUISITION CORP I	PALO	$1.2M	124,192	0.03%	-	new	NEW
EATON VANCE TAX ADVT DIV INC	EVT	$1.2M	44,169	0.03%	-	new	NEW
PAYPAL HLDGS INC PUT	PYPL	$1.2M	14,100	0.03%	flat	5q	+15.0%+$158.6K
VOYAGER TECHNOLOGIES INC	VOYG	$1.2M	35,984	0.03%	+0.01pp	5q	HELD
VISTANCE NETWORKS INC	VISN	$1.2M	90,229	0.03%	-0.04pp	10q	-35.7%-$639.0K
TENET HEALTHCARE CORP PUT	THC	$1.1M	1,513	0.03%	flat	2q	+0.9%+$10.2K
HIGH INCOME SECS FD	PCF	$1.1M	194,477	0.03%	flat	2q	+9.2%+$89.7K
INVESCO SR INCOME TR	VVR	$1.1M	352,657	0.03%	-	new	NEW
PPL CORP	PPL	$977.1K	26,881	0.03%	flat	2q	HELD
BLEICHROEDER ACQUISITI CORP	BBCQ	$967.0K	93,697	0.02%	-0.01pp	2q	-34.8%-$516.0K
REAL ASSET ACQUISITION CORP	RAAQ	$940.9K	87,118	0.02%	-0.14pp	5q	-85.0%-$5.3M
WHIRLPOOL CORP	WHR	$939.2K	23,826	0.02%	-	new	NEW
OKLO INC CALL	OKLO	$926.2K	options only	0.02%	-	new	OPTIONS
ALAMOS GOLD INC	AGI	$879.7K	28,996	0.02%	-	new	NEW
AMERICAN EXCEPTIONALISM ACQU	AEXA	$835.2K	70,656	0.02%	-0.02pp	4q	-46.4%-$722.6K
D. BORAL ARC ACQ I CORP.	BCARW	$705.9K	397,682	0.02%	+0.02pp	2q	+274.1%+$517.2K
VERA BRADLEY INC	VRA	$699.8K	179,895	0.02%	-0.01pp	2q	-38.0%-$428.3K
CELANESE CORP DEL	CE	$686.3K	14,920	0.02%	-	new	NEW
Empery Digital, Inc.	EMPD	$660.8K	185,616	0.02%	-0.01pp	4q	-11.8%-$88.0K
PLANET FITNESS MASTER ISSUER	PLNT	$602.4K	11,547	0.02%	-	new	NEW
CHARTER COMMUNICATIONS INC	CHTR	$574.2K	4,038	0.01%	-	new	NEW
Atrium Therapeutics Inc	RNA	$533.2K	39,640	0.01%	flat	2q	HELD
SYNTEC OPTICS HLDGS INC	OPTXW	$523.9K	192,983	0.01%	flat	11q	-32.8%-$255.3K
CHURCHILL CAP CORP XI	CCXI	$523.5K	30,000	0.01%	-	new	NEW
SOLANA CO	HSDT	$521.5K	316,051	0.01%	+0.01pp	2q	+384.7%+$413.9K
PERIMETER ACQUISITION CORP I	PMTRW	$512.4K	554,045	0.01%	flat	5q	HELD
GRANITE RIDGE RESOURCES INC	GRNT	$511.0K	115,878	0.01%	-0.01pp	13q	HELD
SPARK I ACQUISITION CORP	SPKWF	$508.0K	213,878	0.01%	-	new	NEW
FALCONS BEYOND GLOBAL INC	FBYDW	$487.7K	186,852	0.01%	flat	11q	HELD
TRONOX HOLDINGS PLC	TROX	$481.1K	76,359	0.01%	-0.01pp	6q	+16.8%+$69.3K
NAKAMOTO INC COM	NAKA	$473.7K	119,912	0.01%	-	new	NEW
CLEVELAND-CLIFFS INC NEW	CLF	$459.1K	48,892	0.01%	flat	2q	-15.7%-$85.6K
Arbe Robotics, Ltd.(Israel)	ARBE	$415.0K	500,000	0.01%	flat	18q	HELD
EATON VANCE FLOATING RATE IN	EFT	$414.1K	38,347	0.01%	-	new	NEW
EAGLE NUCLEAR ENERGY WARRANTS	NUCLW	$408.8K	282,898	0.01%	flat	2q	-19.2%-$97.0K
SPRING VY ACQUISITION CORP I	SVAC	$408.3K	39,800	0.01%	-0.04pp	3q	-79.0%-$1.5M
STABLECOINX INC	USDEW	$403.7K	984,852	0.01%	-	new	NEW
INFLECTION PT ACQUISIT CORP	IPFXW	$378.8K	201,499	0.01%	-	new	NEW
HANCOCK JOHN PREM DIVID FD	PDT	$376.0K	29,037	0.01%	flat	2q	HELD
Wen Acquisition Corp	WENNW	$347.7K	981,344	0.01%	flat	4q	HELD
Republic Digital Acquisition Co	RDAGW	$343.7K	916,230	0.01%	flat	5q	-3.6%-$12.7K
GCT Semiconductor Holding Inc	GCTSWS	$330.3K	660,648	0.01%	+0.01pp	10q	-7.0%-$25.0K
ANTERO RESOURCES CORP	AR	$330.3K	9,400	0.01%	flat	10q	HELD
AIRJOULETECHNOLOGIESCORP	AIRJW	$310.0K	239,381	0.01%	flat	10q	-13.2%-$47.0K
BLAIZE HLDGS INC	BZAIW	$309.6K	874,225	0.01%	flat	5q	HELD
ORMAT TECHNOLOGIES INC	ORA	$306.4K	2,814	0.01%	flat	2q	HELD
VISTRA CORP	VST	$302.7K	1,908	0.01%	-	new	NEW
ONEIM ACQUISITION CORP	OIMAW	$302.2K	366,267	0.01%	flat	2q	+1.7%+$4.9K
Berto Acquisition Corp	TACOW	$298.8K	406,561	0.01%	flat	5q	HELD
Presidio Production Co	FTWWS	$257.7K	185,376	0.01%	flat	2q	-15.8%-$48.2K
NUVEEN CR STRATEGIES INCOME	JQC	$255.4K	52,553	0.01%	-	new	NEW
Churchill Capital Corp XI	CCXIW	$248.7K	32,726	0.01%	+0.01pp	2q	+147.1%+$148.1K
Hall Chadwick Acquisition Co Right 11/20/2030	HCACR	$245.9K	870,315	0.01%	flat	2q	HELD
HCM III Acquisition Corp	HCMAW	$241.7K	333,333	0.01%	flat	4q	HELD
Procap Finl Inc	SVIA	$236.9K	153,863	0.01%	-0.01pp	3q	-35.2%-$128.5K
Columbus Circle Capital Corp II	IPXGW	$229.2K	174,999	0.01%	flat	2q	-12.5%-$32.8K
INFLECTION PT ACQUISITION CO	IPCXR	$225.7K	512,200	0.01%	flat	5q	HELD
BATH & BODY WORKS INC	BBWI	$220.0K	9,513	0.01%	flat	3q	-23.1%-$66.2K
TERRESTRIAL ENERGY INC	IMSRW	$218.7K	65,681	0.01%	flat	3q	HELD
LIFEZONE METALS LIMITED	LZMWS	$218.7K	533,369	0.01%	flat	12q	-18.2%-$48.5K
Metals Acquisition Corp II	MTALWS	$212.5K	188,904	0.01%	-	new	NEW
DIGITAL ASSET ACQUISITION CO	DAAQW	$201.6K	471,140	0.01%	flat	5q	HELD
HORIZON QUANTUM HOLDINGS LTD	HQWWW	$173.6K	11,200	0.00%	-0.01pp	2q	-94.7%-$3.1M
RANGE CAP ACQUISITION CORP I	RNGTW	$173.4K	487,499	0.00%	flat	3q	HELD
Rice Acquisition Corp 3	KRSPWS	$159.5K	161,112	0.00%	flat	3q	HELD
ARMADA ACQUISITION CORP II	XRPNW	$149.6K	183,597	0.00%	flat	4q	HELD
EQV Ventures Acquisition Corp II	EVACWS	$148.8K	336,579	0.00%	flat	4q	HELD
SPRING VY ACQUISITION CORP I	SVACW	$147.9K	83,332	0.00%	flat	3q	HELD
FACT II Acquisition Corp	FACTW	$142.4K	237,350	0.00%	flat	5q	HELD
COHEN CIRCLE ACQUISIT CORP I	CCIIW	$140.6K	187,499	0.00%	flat	4q	HELD
Viking Acquisition Corp I	VACIWS	$139.2K	167,854	0.00%	-	new	NEW
Teamshares Inc	TMSWW	$135.7K	91,709	0.00%	-	new	NEW
FORWARD INDUSTRIES INC	FWDI	$133.2K	31,573	0.00%	flat	2q	+126.1%+$74.3K
SPACE ASSET ACQUISITION EQY WARRANTS	SAAQW	$132.7K	147,440	0.00%	flat	2q	HELD
BLEICHROEDER ACQUISITI CORP	BBCQW	$126.7K	58,100	0.00%	flat	2q	+5.1%+$6.1K
Spring Valley Acquisition Corp IV	SVIVW	$124.8K	127,880	0.00%	flat	2q	HELD
WILLOW LANE ACQUSTON II EQY WARRANTS	WLIIW	$120.0K	124,999	0.00%	-	new	NEW
Trailblazer Acquisition Corp	BLZRW	$115.5K	262,103	0.00%	flat	3q	HELD
ProCap Acquisition Corp	PCAPW	$108.3K	333,332	0.00%	flat	4q	HELD
ROADZEN INC	RDZNW	$104.9K	541,499	0.00%	flat	12q	HELD
NEWHOLD INVT CORP III	NHICW	$103.7K	49,998	0.00%	flat	5q	HELD
1RT Acquisition Corp	ONCHW	$101.8K	199,997	0.00%	flat	4q	HELD
HCM IV ACQUISITION CORP	HACQW	$99.7K	174,998	0.00%	-	new	NEW
Apex Treasury Corp	APXTW	$97.5K	299,999	0.00%	flat	3q	HELD
Evolution Global Acquisition Corp	EVOXW	$95.1K	225,000	0.00%	flat	3q	HELD
FutureCrest Acquisition Corp	FCRSWS	$78.2K	92,013	0.00%	flat	3q	HELD
NEW HORIZON AIRCRAFT LTD	HOVRW	$77.9K	199,659	0.00%	flat	10q	HELD
BAIN CAP GSS INVT CORP	BCSSWS	$77.7K	107,115	0.00%	flat	2q	HELD
Crane Hbr Acquisition Corp I Right 12/09/2030	CRANR	$71.5K	297,854	0.00%	flat	2q	HELD
KPET ULTRA PACELINE CORP	KPETWS	$70.1K	116,665	0.00%	-	new	NEW
SPARTACUS ACQUISITON II EQY WARRANTS	TMTSW	$69.7K	133,333	0.00%	-	new	NEW
Keystone Acquisition Corp	KEYYW	$66.0K	149,999	0.00%	-	new	NEW
Melar Acquisition Corp I	MACIW	$63.7K	438,551	0.00%	flat	7q	HELD
HENNESSY CAP INVT CORP VII	HVIIR	$62.0K	175,000	0.00%	flat	6q	HELD
BTC DEV CORP	BDCIW	$61.0K	131,249	0.00%	flat	3q	HELD
LightWave Acquisition Corp	LWACW	$59.8K	197,486	0.00%	flat	4q	HELD
QDRO ACQUISITION CORP	QADRW	$59.0K	199,999	0.00%	-	new	NEW
M3-Brigade Acquisition V Corp	VLOSW	$58.9K	149,170	0.00%	flat	6q	HELD
FOLD HLDGS INC	FLDDW	$58.3K	568,730	0.00%	flat	6q	HELD
INSIGHT DIGITAL PARTNERS II	DYORW	$57.0K	196,682	0.00%	flat	3q	HELD
AGRICULTURE & NAT SOL ACQ CO	ANSCW	$56.1K	249,200	0.00%	flat	9q	HELD
Net Power Inc warrant	NPWRWS	$56.1K	180,984	0.00%	flat	8q	HELD
Ai Infrastructure Acquisi Right 99/99/9999	AIIART	$52.2K	227,000	0.00%	flat	3q	HELD
Irenic Acquisition Corp	IACQW	$51.7K	83,332	0.00%	-	new	NEW
OTG Acquisition I Corp	OTGAW	$51.4K	125,000	0.00%	flat	3q	HELD
SBC MED GROUP HLDGS INC	SBCWW	$51.0K	200,000	0.00%	flat	16q	HELD
BITFUFU INC	FUFUW	$49.3K	414,140	0.00%	flat	10q	HELD
Dynamix Corp III	DNMXW	$48.2K	174,999	0.00%	flat	3q	HELD
RENATUS TACTICAL ACQUIS	RTACW	$47.7K	62,708	0.00%	flat	5q	+10.3%+$4.4K
KRAKacquisition Corp	KRAQW	$46.5K	95,971	0.00%	flat	2q	HELD
BLUE GOLD LTD	BGLWW	$46.5K	484,298	0.00%	flat	5q	HELD
GP-ACT III ACQUISITION CORP	GPATW	$46.4K	193,229	0.00%	flat	8q	HELD
Plum Acquisition Corp. IV	PLMKW	$45.0K	99,999	0.00%	flat	6q	HELD
COLUMBUS ACQUISITION CORP	COLAR	$44.2K	100,000	0.00%	-	new	NEW
KENSINGTON CP A VI CL 1 EQY WARRANTS	KCACWS	$43.1K	37,499	0.00%	-	new	NEW
ROMAN DBDR ACQUISITION CORP	DRDBW	$42.9K	174,262	0.00%	flat	6q	HELD
HNR ACQUISITION CORP WT 2/04/26	EONRWS	$38.3K	500,000	0.00%	flat	17q	HELD
IDEA ACQUISITION EQY WARRANTS	IACOW	$37.3K	116,666	0.00%	-	new	NEW
Dynamix Corp	DYNCW	$36.8K	226,640	0.00%	flat	6q	HELD
ABONY ACQUISITION I EQY WARRANTS	AACOW	$35.8K	83,316	0.00%	-	new	NEW
SPECTRAL AI INC	MDAIW	$33.2K	59,763	0.00%	flat	12q	HELD
FLYEXCLUSIVEINC	FLYXWS	$32.0K	180,500	0.00%	flat	11q	HELD
ILLUMINATION ACQUISITIO CORP	ILLUW	$32.0K	66,666	0.00%	-	new	NEW
ARMADA ACQUISITION III EQY WARRANT	AACIW	$31.6K	99,557	0.00%	-	new	NEW
Fusemachines Inc	FUSEW	$31.5K	524,998	0.00%	flat	3q	HELD
SIM Acquisition I Corp	SIMAW	$31.1K	111,217	0.00%	flat	5q	HELD
GORES HLDGS X INC	GTENW	$29.4K	31,905	0.00%	flat	5q	+0.9%
BRAND ENGAGEMENT NETWORK INC	BNAIW	$28.1K	212,302	0.00%	flat	10q	HELD
ZEO ENERGY CORP	ZEOWW	$28.0K	726,030	0.00%	flat	9q	HELD
SCAGE FUTURE	SCAGW	$27.1K	660,109	0.00%	flat	4q	HELD
AVERIN CAP ACQUISITION CORP	ACAAW	$26.9K	41,665	0.00%	-	new	NEW
NEW PROVIDENCE ACQUISITION C	NPACW	$26.8K	95,631	0.00%	flat	5q	HELD
Airship AI Holdings Inc	AISPW	$25.8K	35,333	0.00%	flat	10q	HELD
Hennessy Capital Investment Corp. VIII	HCICR	$23.4K	136,488	0.00%	-	new	NEW
LEAPFROG ACQUISITION CL A WRNT 1/26/2031	LFACW	$23.2K	67,193	0.00%	flat	2q	HELD
ASPIRE BIOPHARMA HOLDINGS INC WRNT 2/18/2030	ASBPW	$22.9K	983,603	0.00%	flat	6q	HELD
Paloma Acquisition Corp I	PALOW	$21.9K	62,499	0.00%	-	new	NEW
WEST ENCLAVE MERGER CORP	WENCRT	$21.6K	125,000	0.00%	-	new	NEW
Alussa Energy Acquisition Corp II	ALUBWS	$20.6K	49,095	0.00%	flat	2q	HELD
Bitcoin Infrastructure Acquisition Corp Ltd	BIXIW	$20.1K	69,332	0.00%	flat	2q	HELD
FOXX DEV HLDGS INC	FOXXW	$19.4K	269,962	0.00%	flat	8q	+10.2%+$1.8K
Blue Water Acquisition Corp IV	BWIVWS	$17.9K	49,999	0.00%	-	new	NEW
LEGATO MERGER IV EQY WARRANT	LEGOWS	$17.9K	38,017	0.00%	flat	2q	HELD
AVALANCHE TREAS CORP	AVAT	$17.5K	35,000	0.00%	-	new	NEW
NAMIBMINERALS	NAMMW	$17.3K	83,480	0.00%	flat	5q	HELD
Centurion Acquisition Corp	ALFUW	$16.5K	71,410	0.00%	flat	6q	HELD
Rithm Acquisition Corp	RACWS	$15.6K	25,000	0.00%	flat	5q	HELD
SOLID POWER INC	SLDPW	$14.7K	144,086	0.00%	flat	15q	HELD
OSR HEALTH INC	OSRHW	$13.3K	250,000	0.00%	flat	6q	HELD
CDT EQUITY INC	CDTTW	$12.5K	765,000	0.00%	flat	12q	HELD
K&F Growth Acquisition Corp Right 08/29/2031	KFIIR	$12.2K	100,000	0.00%	flat	5q	HELD
DISTOKEN ACQUISITION CORP		$12.0K	99,762	0.00%	flat	4q	HELD
LIMINATUS PHARMA INC.	LIMNW	$11.9K	233,761	0.00%	flat	5q	HELD
RF ACQUISITION CORP III	RFAMR	$11.4K	95,000	0.00%	flat	2q	HELD
HOLLEY INC	HLLYWS	$11.1K	298,716	0.00%	flat	16q	HELD
MUZERO ACQUISITION EQY WARRANT	MUZEW	$10.9K	37,489	0.00%	-	new	NEW
CID HOLDCO INC	DAICW	$9.9K	726,048	0.00%	flat	5q	HELD
CEA INDUSTRIES INC	BNCWZ	$9.8K	198,020	0.00%	-	new	NEW
NVNI GROUP LIMITED	NVNIW	$9.4K	211,075	0.00%	flat	10q	HELD
Silverbox Corp IV	SBXWF	$9.2K	67,710	0.00%	flat	7q	HELD
KIDZ AI INC	KIDZW	$8.8K	699,290	0.00%	flat	5q	HELD
CYCURION INC	CYCUW	$8.6K	500,000	0.00%	flat	17q	HELD
BOREALIS FOODS INC	BRLSW	$7.8K	166,894	0.00%	flat	10q	HELD
New America Acquisition I Corp	NWAXWS	$7.5K	11,946	0.00%	-	new	NEW
VSEE HEALTH INC	VSEEW	$7.4K	243,249	0.00%	flat	9q	HELD
Psyence Biomedical Ltd	PBMWW	$7.2K	297,847	0.00%	flat	10q	HELD
SMX SEC MATTERS PLC	SMXWW	$6.1K	265,947	0.00%	flat	14q	HELD
BAIRD MED INVT HLDGS LTD	BDMDW	$6.1K	132,013	0.00%	flat	7q	HELD
GCL GLOBAL HLDGS LTD	GCLWW	$6.0K	275,000	0.00%	flat	6q	HELD
ZOOZ STRATEGY LTD	ZOOZW	$5.1K	262,498	0.00%	flat	8q	HELD
Waldencast plc CW27	WALDW	$4.7K	99,898	0.00%	flat	16q	HELD
OPPFI INC	OPFIWS	$4.6K	153,564	0.00%	flat	16q	HELD
GRAB HOLDINGS LIMITED	GRABW	$3.7K	84,913	0.00%	flat	16q	HELD
American Acquisition Opportunity Inc	RMCOW	$3.6K	19,443	0.00%	flat	16q	HELD
ARBE ROBOTICS LTD	ARBEW	$3.5K	114,180	0.00%	flat	16q	HELD
BRIDGER AEROSPACE GRP HLDGS	BAERW	$3.2K	11,445	0.00%	flat	14q	-39.0%-$2.0K
GOGORO INC	GGROW	$3.1K	400,330	0.00%	flat	16q	HELD
CARDIO DIAGNOSTICS HOLDGS IN	CDIOW	$3.0K	199,839	0.00%	flat	15q	HELD
PROCAP FINL INC	SVIAW	$2.9K	13,125	0.00%	flat	2q	HELD
Hub Cyber Security Ltd	HUBCW	$2.7K	179,799	0.00%	flat	14q	HELD
MURANO GLOBAL INVTS PLC	MRNOW	$2.2K	174,998	0.00%	flat	10q	HELD
VERDE CLEAN FUELS INC	VGASW	$2.1K	73,108	0.00%	flat	14q	HELD
Ecarx Holdings Inc.	ECXWW	$1.9K	43,358	0.00%	flat	15q	HELD
Lotus Technology Inc	LOTWW	$1.7K	26,945	0.00%	flat	10q	HELD
ESS TECH INC	GWHWS	$1.7K	303,596	0.00%	flat	16q	HELD
OmniAb Inc	OABIW	$1.4K	18,000	0.00%	flat	8q	-9.5%
7GC & CO HOLDINGS CL A -CW26	PARAW	$1.2K	124,100	0.00%	flat	11q	HELD
Swvl Holdings Corp - US	SWVLW	$1.1K	170,222	0.00%	flat	16q	HELD
LIVEWIRE GROUP INC	LVWRWS	$935	49,203	0.00%	flat	16q	HELD

Q2 2026 in brief

Saba Capital Management, L.P. reported 384 positions worth $3.9B for Q2 2026, filed 45 days after the quarter ended. Its five largest holdings made up 26.9% of the portfolio. It added most to Pdd Holdings Inc (about $32.6M), Alibaba Group Hldg Ltd (about $31.5M) and Bluerock Pvt Real Estate Fd (about $25.7M). It cut Nvidia Corporation (about $181.2M), Tesla Inc (about $164.2M) and Blackrock Esg Cap Allc Term (about $69.3M). New positions: Ishares Tr ($27.3M), Royce Small Cap Trust Inc ($23.0M) and Liberty All Star Equity Fd ($22.4M). Sold out of: Qualcomm Inc, Crowdstrike Hldgs Inc and Ishares Tr. Longest held of its top ten: General Amern Invs Co Inc, 31 quarters in a row - every quarter on file.

Dollar amounts for buying and selling are estimates: the change in shares at the quarter-end price implied by the filing. A 13F shows long US stock positions only, at quarter end.

By sector

Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.

Sector	Value	Share
Funds & ETFs	$2.3B	59.2%
Software & IT Services	$252.9M	6.5%
Banks & Lending	$234.5M	6.0%
Holding & Investment	$217.0M	5.6%
Semiconductors & Electronics	$201.7M	5.2%
Autos & Aerospace	$171.6M	4.4%
Business Services	$135.5M	3.5%
Capital Markets	$71.7M	1.8%
Computer Hardware	$64.1M	1.6%
Other sectors	$154.6M	4.0%
Not classified	$84.9M	2.2%

What the disclosed book did

This is not the fund's return. A 13F shows long US equity positions only, so shorts, bonds, foreign listings, private holdings and cash are all invisible here. What this measures is the quarter's change in value of the positions this manager disclosed, had they been left untouched - the return a reader following the filing would have earned.

Quarter	Book	Market	Difference	Priced
Q2 2026	+7.2%	+14.8%	-7.6%	85%
Q1 2026	-2.4%	-4.6%	+2.2%	87%
Q4 2025	-1.5%	+2.4%	-3.9%	81%
Q3 2025	+3.8%	+7.8%	-4.0%	83%
Q2 2025	+5.4%	+10.5%	-5.1%	98%
Q1 2025	-2.5%	-4.6%	+2.0%	99%
Q4 2024	-5.0%	+2.1%	-7.2%	94%
Q3 2024	+4.4%	+5.4%	-1.0%	96%

Market is SPY over the same two quarter ends, priced the same way as everything else here - the median across every filer reporting it. It is a large-cap US proxy, so a manager holding small caps or biotech will beat or trail it for reasons that are not skill. Prices are quarter-end to quarter-end and say nothing about the path in between, or about trades opened and closed inside a quarter.

Quarter by quarter

Quarter	Value	Positions	New	Added	Trimmed	Exited	Top 10	Days to file
Q2 2026	$3.9B	384	89	60	76	76	41.6%	45
Q1 2026	$3.6B	371	92	55	71	54	44.6%	45
Q4 2025	$3.4B	333	88	51	51	65	47.5%	48
Q3 2025	$3.7B	310	49	36	81	44	44.7%	45
Q2 2025	$4.3B	305	80	68	44	44	44.7%	45
Q1 2025	$3.7B	269	28	49	54	45	54.6%	45
Q4 2024	$4.3B	286	17	51	73	85	53.6%	45
Q3 2024	$4.8B	354	35	48	60	61	47.7%	45
Q2 2024	$6.0B	380	36	74	42	47	57.1%	45
Q1 2024	$5.8B	391	32	81	55	120	53.7%	45
Q4 2023	$5.0B	479	40	114	52	114	36.3%	45
Q3 2023	$4.2B	553	42	114	63	97	34.6%	45
Q2 2023	$3.8B	608	40	94	120	175	32.1%	45
Q1 2023	$5.2B	743	71	78	87	232	22.3%	45
Q4 2022	$7.4B	904	78	120	51	274	17.9%	45
Q3 2022	$8.9B	1,100	105	258	59	90	14.2%	47
Q2 2022	$8.6B	1,085	196	407	42	56	13.8%	46
Q1 2022	$7.0B	945	364	275	61	149	18.6%	64
Q4 2021	$6.6B	730	317	131	52	102	28.6%	45
Q3 2021	$4.1B	515	143	177	43	61	28.4%	46
Q2 2021	$3.5B	433	227	113	47	221	33.5%	47
Q1 2021	$3.1B	427	335	26	48	70	37.9%	47
Q4 2020	$2.4B	162	65	42	39	45	53.2%	47
Q3 2020	$2.4B	142	62	22	41	28	48.6%	47
Q2 2020	$2.3B	108	12	32	50	39	48.3%	45
Q1 2020	$1.9B	135	57	39	23	8	46.2%	45
Q4 2019	$2.1B	86	9	19	36	11	53.7%	45
Q3 2019	$2.2B	88	7	22	36	17	51.1%	45
Q2 2019	$2.3B	98	9	40	25	14	53.2%	45
Q1 2019	$2.3B	103	9	42	38	56	55.1%	45
Q4 2018	$2.8B	150	0	0	0	0	64.1%	45

Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.

Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.

Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.