Who owns SABA
Which tracked institutional funds hold SABA, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SABA company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-26). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
9 tracked funds added or opened SABA while 7 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SABA’s largest tracked holder by dollar value, RIVERNORTH CAPITAL MANAGEMENT, LLC, sizes it at 1.2% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 1.2pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SABA divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 87 tracked filers holding SABA, 36 increased or opened the position and 33 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SABA between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 2
- TORONTO DOMINION BANK$9M
- RPO LLC$1M
Full exits 1
- SEVEN MILE ADVISORY$2M
Largest adds
- Almitas Capital LLC$2M
- Hara Capital LLC$1M
- Shaker Financial Services, LLC$1M
- RIVERNORTH CAPITAL MANAGEMENT, LLC$749K
- CSS LLC/IL$387K
- BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC$343K
Largest trims
- Thomas J. Herzfeld Advisors, Inc.$7M
- WELLS FARGO & COMPANY/MN$5M
- ENVESTNET ASSET MANAGEMENT INC$5M
- MORGAN STANLEY$761K
- CHOREO, LLC$507K
- Noble Wealth Management PBC$413K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| RIVERNORTH CAPITAL MANAGEMENT, LLC added | 2,857,603 | $24M | 18.1% | 2026-Q1 |
| Saba Capital Management, L.P. | 2,190,968 | $18M | 13.9% | 2026-Q1 |
| TORONTO DOMINION BANK added | 1,072,525 | $9M | 6.8% | 2026-Q1 |
| Focus Partners Wealth added | 1,044,953 | $9M | 6.6% | 2026-Q1 |
| Thomas J. Herzfeld Advisors, Inc. trimmed | 774,518 | $6M | 4.9% | 2026-Q1 |
| Shaker Financial Services, LLC added | 580,372 | $5M | 3.7% | 2026-Q1 |
| SCOTIA CAPITAL INC. added | 443,231 | $4M | 2.8% | 2026-Q1 |
| Invesco Ltd. trimmed | 414,801 | $3M | 2.6% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 355,848 | $3M | 2.3% | 2026-Q1 |
| Almitas Capital LLC added | 347,826 | $3M | 2.2% | 2026-Q1 |
| Fiera Capital Corp trimmed | 320,066 | $3M | 2.0% | 2026-Q1 |
| BLUE BELL PRIVATE WEALTH MANAGEMENT, LLC added | 306,601 | $3M | 1.9% | 2026-Q1 |
| FLAX POND CAPITAL, LLC added | 299,313 | $2M | 1.9% | 2026-Q1 |
| Hara Capital LLC added | 281,766 | $2M | 1.8% | 2026-Q1 |
| Advisors Asset Management, Inc. trimmed | 260,396 | $2M | 1.7% | 2026-Q1 |
| TrueMark Investments, LLC added | 224,709 | $2M | 1.4% | 2026-Q1 |
| MORGAN STANLEY trimmed | 210,718 | $2M | 1.3% | 2026-Q1 |
| Closed-End Fund Advisors, Inc. added | 200,529 | $2M | 1.3% | 2026-Q1 |
| QUANTIFY CHAOS ADVISORS, LLC added | 192,605 | $2M | 1.2% | 2026-Q1 |
| CSS LLC/IL added | 171,108 | $1M | 1.1% | 2026-Q1 |
| Comprehensive Money Management Services LLC added | 125,898 | $1M | 0.8% | 2026-Q1 |
| RPO LLC added | 123,146 | $1M | 0.8% | 2026-Q1 |
| Mutual Advisors, LLC trimmed | 114,820 | $955K | 0.7% | 2026-Q1 |
| Baird Financial Group, Inc. trimmed | 100,930 | $840K | 0.6% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC added | 90,794 | $755K | 0.6% | 2026-Q1 |
| Private Advisor Group, LLC added | 87,448 | $728K | 0.6% | 2026-Q1 |
| CHOREO, LLC trimmed | 66,333 | $552K | 0.4% | 2026-Q1 |
| Marex Group plc added | 51,345 | $427K | 0.3% | 2026-Q1 |
| LEGACY FINANCIAL INDEPENDENT ADVISORS LLC new | 50,341 | $419K | 0.3% | 2026-Q1 |
| Catalina Capital Group, LLC | 47,012 | $391K | 0.3% | 2026-Q1 |
| Visionary Horizons, LLC | 45,776 | $381K | 0.3% | 2026-Q1 |
| Winter & Associates, Inc. trimmed | 39,673 | $333K | 0.3% | 2026-Q1 |
| KELLEHER FINANCIAL ADVISORS added | 39,821 | $331K | 0.3% | 2026-Q1 |
| Gridiron Partners, LLC trimmed | 38,655 | $322K | 0.2% | 2026-Q1 |
| LPL Financial LLC trimmed | 34,222 | $285K | 0.2% | 2026-Q1 |
| EVERGREEN CAPITAL MANAGEMENT LLC trimmed | 30,318 | $252K | 0.2% | 2026-Q1 |
| Avion Wealth | 28,905 | $240K | 0.2% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 26,148 | $218K | 0.2% | 2026-Q1 |
| Gilman Hill Asset Management, LLC added | 25,000 | $208K | 0.2% | 2026-Q1 |
| ROYAL BANK OF CANADA added | 22,768 | $189K | 0.1% | 2026-Q1 |
| K2 PRINCIPAL FUND, L.P. | 22,700 | $189K | 0.1% | 2026-Q1 |
| NATIONS FINANCIAL GROUP INC, /IA/ /ADV | 20,212 | $168K | 0.1% | 2026-Q1 |
| OSAIC HOLDINGS, INC. trimmed | 19,927 | $166K | 0.1% | 2026-Q1 |
| Capital Investment Advisors, LLC added | 19,802 | $165K | 0.1% | 2026-Q1 |
| Independent Advisor Alliance | 18,725 | $156K | 0.1% | 2026-Q1 |
| Harbour Capital Advisors, LLC | 18,000 | $153K | 0.1% | 2026-Q1 |
| HighTower Advisors, LLC trimmed | 17,532 | $146K | 0.1% | 2026-Q1 |
| MELFA WEALTH MANAGEMENT, INC. | 16,875 | $140K | 0.1% | 2026-Q1 |
| PATRON PARTNERS, LLC | 16,490 | $137K | 0.1% | 2026-Q1 |
| CITADEL ADVISORS LLC trimmed | 15,100 | $126K | 0.1% | 2026-Q1 |
| UHLMANN PRICE SECURITIES, LLC added | 14,688 | $122K | 0.1% | 2026-Q1 |
| Clear Creek Financial Management, LLC added | 14,675 | $122K | 0.1% | 2026-Q1 |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. added | 14,567 | $121K | 0.1% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC | 14,251 | $119K | 0.1% | 2026-Q1 |
| HARBOUR INVESTMENTS, INC. added | 13,873 | $115K | 0.1% | 2026-Q1 |
| HRT FINANCIAL LP trimmed | 12,733 | $105K | 0.1% | 2026-Q1 |
| HB Wealth Management, LLC | 12,500 | $104K | 0.1% | 2026-Q1 |
| Farther Finance Advisors, LLC added | 12,212 | $102K | 0.1% | 2026-Q1 |
| Creative Planning trimmed | 11,944 | $99K | 0.1% | 2026-Q1 |
| Joel Isaacson & Co., LLC | 11,500 | $96K | 0.1% | 2026-Q1 |
| SHRIER WEALTH MANAGEMENT, LLC trimmed | 11,306 | $94K | 0.1% | 2026-Q1 |
| Rock Point Advisors, LLC trimmed | 10,216 | $85K | 0.1% | 2026-Q1 |
| UBS Group AG trimmed | 10,076 | $84K | 0.1% | 2026-Q1 |
| Abel Hall, LLC | 10,000 | $83K | 0.1% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 5,000 | $42K | 0.0% | 2026-Q1 |
| Clearstead Advisors, LLC | 4,917 | $41K | 0.0% | 2026-Q1 |
| Allworth Financial LP trimmed | 4,882 | $41K | 0.0% | 2026-Q1 |
| JNBA Financial Advisors | 3,487 | $29K | 0.0% | 2026-Q1 |
| Axiom Investment Management LLC new | 2,513 | $21K | 0.0% | 2026-Q1 |
| North Star Investment Management Corp. trimmed | 2,027 | $17K | 0.0% | 2026-Q1 |
| Rockefeller Capital Management L.P. trimmed | 1,517 | $13K | 0.0% | 2026-Q1 |
| Noble Wealth Management PBC trimmed | 1,500 | $12K | 0.0% | 2026-Q1 |
| Investors Research Corp | 1,335 | $11K | 0.0% | 2026-Q1 |
| Medallion Wealth Advisors, LLC | 575 | $5K | 0.0% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. added | 561 | $5K | 0.0% | 2026-Q1 |
| Kovitz Investment Group Partners, LLC added | 1,018,968 | $9M | 7.1% | 2025-Q3 stale |
| SEVEN MILE ADVISORY added | 244,179 | $2M | 1.5% | 2025-Q4 stale |
| Diesslin Group, Inc. new | 45,969 | $379K | 0.3% | 2025-Q4 stale |
| Cetera Investment Advisers added | 29,468 | $271K | 0.2% | 2025-Q2 stale |
| Walleye Capital LLC added | 25,011 | $230K | 0.2% | 2025-Q2 stale |
| Laird Norton Wetherby Wealth Management, LLC new | 21,197 | $195K | 0.1% | 2025-Q2 stale |
| MILLENNIUM MANAGEMENT LLC trimmed | 16,591 | $152K | 0.1% | 2025-Q2 stale |
| ABSOLUTE INVESTMENT ADVISERS, LLC new | 13,742 | $126K | 0.1% | 2025-Q2 stale |
| BlackRock, Inc. new | 13,067 | $120K | 0.1% | 2025-Q2 stale |
| Janney Montgomery Scott LLC | 12,793 | $118K | 0.1% | 2025-Q2 stale |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC trimmed | 13,346 | $112K | 0.1% | 2025-Q4 stale |
| Family Firm, Inc. added | 11,452 | $105K | 0.1% | 2025-Q2 stale |
| Chicago Partners Investment Group LLC trimmed | 10,355 | $96K | 0.1% | 2025-Q2 stale |
| COMMONWEALTH EQUITY SERVICES, LLC trimmed | 10,755 | $94K | 0.1% | 2025-Q1 stale |
| Quarry LP | 5,393 | $49K | 0.0% | 2025-Q3 stale |
| US BANCORP \DE\ trimmed | 4,007 | $35K | 0.0% | 2025-Q1 stale |
| BANK OF AMERICA CORP /DE/ added | 3,189 | $26K | 0.0% | 2025-Q4 stale |
| Northwest Capital Management Inc | 1,880 | $17K | 0.0% | 2025-Q2 stale |
| Future Financial Wealth Managment LLC added | 1,400 | $13K | 0.0% | 2025-Q3 stale |
| Fortitude Family Office, LLC | 1,000 | $8K | 0.0% | 2025-Q4 stale |
| Hilton Head Capital Partners, LLC new | 979 | $8K | 0.0% | 2025-Q4 stale |
| Glass Jacobson Investment Advisors llc | 850 | $8K | 0.0% | 2025-Q1 stale |
| Geneos Wealth Management Inc. trimmed | 739 | $7K | 0.0% | 2025-Q2 stale |
| Global Retirement Partners, LLC new | 615 | $5K | 0.0% | 2025-Q4 stale |
| BOK Financial Private Wealth, Inc. new | 509 | $4K | 0.0% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.