Clients
Saba Capital Management serves 41 clients, 30 of them pooled investment vehicles. The average client has about $446 million with the firm.
- Investment companies3 clients8%
- Pooled investment vehicles30 clients84%
- State or municipal government entities3 clients3%
- Other investment advisers3 clients4%
- Pension and profit-sharing plans2 clients1%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 3 | $1,513,373,919 | 8.3% | $504.5M |
| Pooled investment vehicles | 30 | $15,423,166,765 | 84.3% | $514.1M |
| Pension and profit-sharing plans | 2 | $101,049,715 | 0.6% | $50.5M |
| State or municipal government entities | 3 | $457,695,729 | 2.5% | $152.6M |
| Other investment advisers | 3 | $808,705,445 | 4.4% | $269.6M |
| Total | 41 | $18,303,991,573 | 100% | $446.4M |
- Clients
- 3
- Regulatory AUM
- $1,513,373,919
- Share
- 8.3%
- Avg. per client
- $504.5M
- Clients
- 30
- Regulatory AUM
- $15,423,166,765
- Share
- 84.3%
- Avg. per client
- $514.1M
- Clients
- 2
- Regulatory AUM
- $101,049,715
- Share
- 0.6%
- Avg. per client
- $50.5M
- Clients
- 3
- Regulatory AUM
- $457,695,729
- Share
- 2.5%
- Avg. per client
- $152.6M
- Clients
- 3
- Regulatory AUM
- $808,705,445
- Share
- 4.4%
- Avg. per client
- $269.6M
Total
- Clients
- 41
- Regulatory AUM
- $18,303,991,573
- Share
- 100%
- Avg. per client
- $446.4M
What it does
Saba Capital Management provides portfolio management for investment companies, portfolio management for pooled vehicles and other activities. It is paid through a percentage of assets and performance-based fees.
Saba Capital Management advises 12 private funds.
100.0% of assets ($18.30B across 41 accounts) are managed with discretion. 53% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Funds44%
- Bonds1%
- Cash9%
- Other46%
- Derivatives46%
Custodians
Saba Capital Management’s client accounts are held mainly at TD Prime Services, with 3% of managed assets, and Morgan Stanley, with 2%. Saba Capital Management has custody of $18.30B for 41 clients.
- Goldman Sachs &Goldman Sachs & Co. LLC · New York, NY · $165.4M1%
- Bank of New York MellonBank of New York Mellon · New York, NY · $102.1M1%
- TD Prime ServicesTD Prime Services LLC · New York, NY · $482.4M3%
- Morgan StanleyMorgan Stanley & Co. LLC · New York, NY · $436.3M2%
- OtherJ.P. Morgan, Barclays Bank PLC, All other custodians94%
Ownership and leadership
Boaz Weinstein owns 75% or more of Saba Capital Management.
- Owns 75% or more of Saba Capital Management, L.P.
Boaz Weinstein
Control person · since March 2009
- Owns 5% to 10% of Saba Capital Management, L.P.
Paul Kazarian
Control person · since March 2022
- Owns 5% to 10% of Saba Capital Management, L.P.
Jeremy Benkiewicz
Control person · since February 2026
Leadership
- Nitin SapruPartner, Chief Financial Officer (saba Capital Management, LP)
- Michael D AngeloPartner, Chief Operating Officer, General Counsel (saba Capital Management, LP)
- David HanChief Compliance Officer (saba Capital Management, LP)
- Jeremy BenkiewiczPartner (saba Capital Management, LP)
- Kieran GoodwinPartner (saba Capital Management, LP)
- Paul KazarianPartner (saba Capital Management, LP)
- Andrew KellermanPartner, Head of Investor Relations (saba Capital Management, LP)
- Boaz WeinsteinCIO, Partner, Founder (saba Capital Management, LP)
Staff
- 67 employees
- 17 in advisory functions
- 2 broker-dealer reps
Reported holdings
Saba Capital Management’s reported 13F holdings total $3.90B across 400 positions, and the ten largest make up 41.1% of it.
- $3.90B
- Reported 13F value
- 400
- Positions
- 41.1%
- In the 10 largest
- +7.7%
- Value vs. prior quarter
- Asa Gold And Precious Mtls L7.9%
- Blackrock Esg Cap Allc Term · Shs Ben Int7.1%
- Blackrock Science & Technolo · Shs Ben Int4.4%
- Virtus Dividend Interest & P4.0%
- Gabelli Divid & Income TR3.5%
- Pimco Dynamic Income Strateg · Com Shs Ben Int3.4%
- Neuberger Next Generation3.2%
- General Amern Invs CO Inc.2.9%
- Advanced Micro Devices Inc.Put2.4%
- Tesla Inc.Put2.3%
Together, the ten largest are 41.1% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $3.90B is not its $18.30B in regulatory assets and does not represent any individual client's portfolio.
Fees
Saba Capital Management is paid through a percentage of assets under management and performance-based fees.
Saba Capital Management’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Saba Capital Management has 1 office, with 1 listed address in 1 state.
New York · 1 listed address
- 405 Lexington Ave, 58th Floor, New YorkHQ
Registration details
- Legal name
- Saba Capital Management, L.P.
- Headquarters
- 405 Lexington Ave, 58th Floor, New York, NY 10174-7199
- Phone
- 212-542-3610
- Website
- www.sabacapital.com
- SEC file
- 801-71740
- Structure
- Delaware limited partnership
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Saba Capital Management have?
Saba Capital Management has 41 clients and manages $18.3 billion for them, as of May 2026. They include 30 pooled investment vehicles, 3 investment companies and 3 state or municipal government entities.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 29 May 2026
What services does Saba Capital Management offer?
Saba Capital Management provides portfolio management for investment companies, portfolio management for pooled vehicles and other activities.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Saba Capital Management use?
Saba Capital Management’s separately managed account assets are held at TD Prime Services LLC (New York, NY), with $482,380,635, Morgan Stanley & Co. LLC (New York, NY), with $436,343,823, Goldman Sachs & Co. LLC (New York, NY), with $165,421,165, Bank of New York Mellon (New York, NY), with $102,145,514, J.P. Morgan Securities LLC (New York, NY), with $19,697,193 and Barclays Bank PLC (London), with $13,947,531. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 29 May 2026
How many financial advisors does Saba Capital Management have?
Saba Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 67 employees, and 17 perform investment advisory functions. 2 are registered representatives of a broker-dealer and 0 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Saba Capital Management invest in?
At the end of its last fiscal year, Saba Capital Management’s separately managed accounts held 46% derivatives, 44% registered funds (mutual funds, ETFs, BDCs), 9% cash and equivalents and 1% high-yield corporate bonds. It advises 12 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Saba Capital Management?
Saba Capital Management’s direct owners are Boaz Weinstein (75% or more), Paul Kazarian (5% to 10%) and Jeremy Benkiewicz (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 29 May 2026
How does Saba Capital Management get paid?
Saba Capital Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file