Vault-13

SABA CAPITAL INCOME & OPRNT BRW

SHS NEW · Closed-End Fund · CUSIP 78518H202

81 institutional holders +1 vs Q1 2025
12,025,74012.0m shares reported held*
$97.0mreported value*
8 new 26 added 21 reduced 8 sold out net sold ≈ $271.5k (-33.7k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $8.06.

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 64Q4 22: 71Q1 23: 66Q2 23: 64Q3 23: 69Q4 23: 77Q1 24: 72Q2 24: 73Q3 24: 71Q4 24: 85Q1 25: 80Q2 25: 8181Q3 22Q2 23Q1 24Q4 24Q2 25
Numbers
QuarterHolders
Q3 202264
Q4 202271
Q1 202366
Q2 202364
Q3 202369
Q4 202377
Q1 202472
Q2 202473
Q3 202471
Q4 202485
Q1 202580
Q2 202581

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q3 23: 29 bought or addedQ3 23: 25 cut or sold outQ4 23: 30 bought or addedQ4 23: 28 cut or sold outQ4 23Q1 24: 35 bought or addedQ1 24: 28 cut or sold outQ2 24: 24 bought or addedQ2 24: 34 cut or sold outQ2 24Q3 24: 30 bought or addedQ3 24: 27 cut or sold outQ4 24: 36 bought or addedQ4 24: 29 cut or sold outQ4 24Q1 25: 32 bought or addedQ1 25: 40 cut or sold outQ2 25: 34 bought or addedQ2 25: 29 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 20232925
Q4 20233028
Q1 20243528
Q2 20242434
Q3 20243027
Q4 20243629
Q1 20253240
Q2 20253429

Biggest buyers

Thomas J. Herzfeld Advisors, Inc. New +446,455+446.5k
Modern Wealth Management, LLC Added +128,530+128.5k
Next Capital Management LLC New +99,725+99.7k
Advisors Asset Management, Inc. Added +95,541+95.5k
ABSOLUTE INVESTMENT ADVISERS, LLC Added +71,200+71.2k
Almitas Capital LLC New +55,799+55.8k
NewEdge Advisors, LLC Added +40,431+40.4k
CHOREO, LLC New +37,438+37.4k
UBS Group AG Added +34,796+34.8k
LPL Financial LLC Added +30,516+30.5k

Biggest sellers

RIVERNORTH CAPITAL MANAGEMENT, LLC Reduced -529,071-529.1k
Shaker Financial Services, LLC Reduced -111,087-111.1k
CSS LLC/IL Reduced -88,903-88.9k
Bulldog Investors, LLP Sold out -73,191-73.2k
LANDSCAPE CAPITAL MANAGEMENT, L.L.C. Sold out -69,467-69.5k
Invesco Ltd. Reduced -55,081-55.1k
SCOTIA CAPITAL INC. Reduced -44,620-44.6k
North Ground Capital Reduced -40,181-40.2k
Ethos Financial Group, LLC Reduced -37,535-37.5k
MILLENNIUM MANAGEMENT LLC Reduced -31,094-31.1k

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Kovitz Investment Group Partners, LLC 13G · institution new · filed 2024-10-29 5.8% new 2.5m≈ $16.2m 2024-10-29
Focus Partners Wealth 13G · institution new · filed 2026-02-13 5.7% new 3.1m≈ $20.2m 2026-02-13

Insider purchases and sales in Q2 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

Officers and directors buying vs selling

Number of people, by quarter (10% owners not included)

BuyingSelling
101Q3 23: 0 buyingQ3 23: 0 sellingQ4 23: 0 buyingQ4 23: 0 sellingQ4 23Q1 24: 0 buyingQ1 24: 0 sellingQ2 24: 0 buyingQ2 24: 0 sellingQ2 24Q3 24: 0 buyingQ3 24: 1 sellingQ4 24: 0 buyingQ4 24: 0 sellingQ4 24Q1 25: 0 buyingQ1 25: 0 sellingQ2 25: 0 buyingQ2 25: 0 sellingQ2 25
Numbers
QuarterBuyingBoughtSellingSoldSold under a plan
Q3 20230—0——
Q4 20230—0——
Q1 20240—0——
Q2 20240—0——
Q3 20240—1$22.4k—
Q4 20240—0——
Q1 20250—0——
Q2 20250—0——

None reported in Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 NorthCoast Asset Management LLC 0.09% of their portfolio STAMFORD, CT 2,746,9582.7m $22.1m $22.1m 0.09% Reduced -10.9k -10,918
2 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.84% of their portfolio WEST PALM BEACH, FL 1,875,2031.9m $15.1m $15.1m 0.84% Reduced -529.1k -529,071
3 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 733,954734.0k $5.9m $5.9m 0.00% Reduced -4.5k -4,474
4 ABSOLUTE INVESTMENT ADVISERS, LLC 0.68% of their portfolio ROSEMARY BEACH, FL 685,417685.4k $5.5m $5.5m 0.68% Added +71.2k +71,200
5 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 559,740559.7k $4.5m $4.5m 0.00% Reduced -55.1k -55,081
6 Thomas J. Herzfeld Advisors, Inc. 1.28% of their portfolio MIAMI BEACH, FL 446,455446.5k $3.6m $3.6m 1.28% New
7 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 406,845406.8k $3.3m $3.3m 0.00% Added +30.5k +30,516
8 INVESCO SENIOR SECURED MANAGEMENT INC /ADV 4.48% of their portfolio NEW YORK, NY 395,337395.3k $3.2m $3.2m 4.48% Unchanged
9 Advisors Asset Management, Inc. 0.05% of their portfolio Monument, CO 317,129317.1k $2.6m $2.6m 0.05% Added +95.5k +95,541
10 NewEdge Advisors, LLC 0.01% of their portfolio NEW ORLEANS, LA 282,185282.2k $2.3m $2.3m 0.01% Added +40.4k +40,431
11 Ethos Financial Group, LLC 0.19% of their portfolio KING OF PRUSSIA, PA 269,718269.7k $2.2m $2.2m 0.19% Reduced -37.5k -37,535
12 Quarry LP 0.49% of their portfolio NEW YORK, NY 265,396265.4k $2.1m $2.1m 0.49% Added +25.8k +25,800
13 J.W. COLE ADVISORS, INC. 0.03% of their portfolio TAMPA, FL 199,515199.5k $1.6m $1.6m 0.03% Added +11.6k +11,555
14 Marks Group Wealth Management, Inc 0.14% of their portfolio MINNETONKA, MN 185,636185.6k $1.5m $1.5m 0.14% Unchanged
15 North Ground Capital 1.85% of their portfolio Cohasset, MA 179,828179.8k $1.5m $1.5m 1.85% Reduced -40.2k -40,181
16 Modern Wealth Management, LLC 0.03% of their portfolio KANSAS CITY, MO 159,255159.3k $1.3m $1.3m 0.03% Added +128.5k +128,530
17 Baird Financial Group, Inc. 0.00% of their portfolio MILWAUKEE, WI 148,026148.0k $1.2m $1.2m 0.00% Added +1.7k +1,655
18 Chicago Partners Investment Group LLC 0.03% of their portfolio CHICAGO, IL 143,845143.8k $1.2m $1.2m 0.03% Reduced -16.5k -16,482
19 SCOTIA CAPITAL INC. 0.01% of their portfolio TORONTO, A6 139,859139.9k $1.1m $1.1m 0.01% Reduced -44.6k -44,620
20 CSS LLC/IL 0.07% of their portfolio CHICAGO, IL 134,113134.1k $1.1m $1.1m 0.07% Reduced -88.9k -88,903
21 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 109,860109.9k $885.5k $885.5k 0.00% Reduced -15.6k -15,630
22 Next Capital Management LLC 0.30% of their portfolio NEW YORK, NY 99,72599.7k $803.8k $803.8k 0.30% New
23 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 98,57998.6k $794.5k $794.5k 0.00% Added +13.8k +13,829
24 Adalta Capital Management LLC 0.39% of their portfolio NEW YORK, NY 95,20095.2k $767.3k $767.3k 0.39% Added +24.9k +24,900
25 Shaker Financial Services, LLC 0.24% of their portfolio Arlington, VA 82,22082.2k $662.7k $662.7k 0.24% Reduced -111.1k -111,087
26 OAK HILL ADVISORS LP 0.16% of their portfolio New York, NY 79,34379.3k $639.5k $639.5k 0.16% Reduced -11.5k -11,489
27 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 79,00979.0k $636.8k $636.8k 0.00% Added +4.2k +4,178
28 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 67,49467.5k $544.0k $544.0k 0.00% Added +2.2k +2,220
29 Cetera Investment Advisers 0.00% of their portfolio SCHAUMBURG, IL 63,97464.0k $515.6k $515.6k 0.00% Added +4.3k +4,332
30 PEAK FINANCIAL ADVISORS LLC 0.26% of their portfolio DENVER, CO 63,43163.4k $511.3k $511.3k 0.26% Added +1.1k +1,131
31 WEDBUSH SECURITIES INC 0.02% of their portfolio PASADENA, CA 56,29956.3k $454.0k $454.0k 0.02% Reduced -8.1k -8,070
32 Almitas Capital LLC 0.11% of their portfolio SANTA MONICA, CA 55,79955.8k $449.7k $449.7k 0.11% New
33 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 52,23852.2k $421.0k $421.0k 0.00% Added +4.0k +4,007
34 UBS Group AG 0.00% of their portfolio ZURICH, V8 51,02051.0k $411.2k $411.2k 0.00% Added +34.8k +34,796
35 Cerity Partners LLC 0.00% of their portfolio NEW YORK, NY 47,56247.6k $383.3k $383.3k 0.00% Added +1.5k +1,525
36 Westchester Capital Management, LLC 0.02% of their portfolio VALHALLA, NY 44,68944.7k $360.2k $360.2k 0.02% Unchanged
37 SeaCrest Wealth Management, LLC 0.04% of their portfolio PURCHASE, NY 43,60743.6k $351.5k $351.5k 0.04% Reduced -2.2k -2,213
38 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 42,89042.9k $345.7k $345.7k 0.00% Unchanged
39 CHOREO, LLC 0.00% of their portfolio ROCKFORD, IL 37,43837.4k $301.8k $301.8k 0.00% New
40 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 36,55336.6k $294.6k $294.6k 0.00% Reduced -3.1k -3,096
41 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 35,94135.9k $289.7k $289.7k 0.00% Reduced -31.1k -31,094
42 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 27,21127.2k $219.0k $219.0k 0.00% Reduced -1.5k -1,517
43 Laird Norton Wetherby Wealth Management, LLC 0.01% of their portfolio Seattle, WA 25,10725.1k $202.4k $202.4k 0.01% First filing
44 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 24,79424.8k $199.8k $199.8k 0.00% New
45 Gridiron Partners, LLC 0.11% of their portfolio Wexford, PA 22,58022.6k $182.0k $182.0k 0.11% Unchanged
46 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 21,78021.8k $176.0k $176.0k 0.00% Added +10.9k +10,889
47 KESTRA PRIVATE WEALTH SERVICES, LLC 0.00% of their portfolio AUSTIN, TX 19,36219.4k $156.1k $156.1k 0.00% Added +590 +590
48 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 19,29719.3k $155.5k $155.5k 0.00% Added +12.5k +12,463
49 FLAGSHIP HARBOR ADVISORS, LLC 0.01% of their portfolio BOSTON, MA 19,19819.2k $154.7k $154.7k 0.01% Added +4.2k +4,214
50 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 18,90918.9k $152.0k $152.0k 0.00% Added +5.7k +5,701
51 M&T Bank Corp 0.00% of their portfolio BUFFALO, NY 18,00018.0k $145.1k $145.1k 0.00% Unchanged
52 CAPTRUST FINANCIAL ADVISORS 0.00% of their portfolio RALEIGH, NC 16,71216.7k $134.7k $134.7k 0.00% Added +3.0k +2,956
53 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 16,00816.0k $129.0k $129.0k 0.00% Unchanged
54 Corient Private Wealth LP 0.00% of their portfolio MIAMI, FL 14,69314.7k $118.4k $118.4k 0.00% Added +351 +351
55 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 13,86013.9k $111.7k $111.7k 0.00% Unchanged
56 Sage Capital Management, LLC 0.05% of their portfolio Stockton, NJ 13,50013.5k $108.8k $108.8k 0.05% Unchanged
57 Virtu Financial LLC 0.01% of their portfolio New York, NY 12,51312.5k $101.0k $101.0k 0.01% New
58 Grove Street Fiduciary, LLC 0.04% of their portfolio PETERBOROUGH, NH 11,53211.5k $92.9k $92.9k 0.04% Unchanged
59 Capital Investment Advisors, LLC 0.00% of their portfolio ATLANTA, GA 10,96511.0k $88.4k $88.4k 0.00% Unchanged
60 Kestra Advisory Services, LLC 0.00% of their portfolio AUSTIN, TX 10,54610.5k $85.0k $85.0k 0.00% Added +62 +62
61 GAMCO INVESTORS, INC. ET AL 0.00% of their portfolio GREENWICH, CT 10,50010.5k $84.6k $84.6k 0.00% Unchanged
62 CREATIVE FINANCIAL DESIGNS INC /ADV 0.01% of their portfolio KOKOMO, IN 10,42710.4k $84.0k $84.0k 0.01% Added +78 +78
63 M Wealth Management, LLC 0.07% of their portfolio San Diego, CA 10,00010.0k $80.6k $80.6k 0.07% Reduced -7.2k -7,250
64 MAI Capital Management 0.00% of their portfolio INDEPENDENCE, OH 9,5679.6k $77.1k $77.1k 0.00% Reduced -2.0k -2,008
65 COMERICA BANK 0.00% of their portfolio DALLAS, TX 7,9718.0k $64.2k $64.2k 0.00% Reduced -7.5k -7,500
66 NFSG Corp 0.01% of their portfolio BOCA RATON, FL 5,7675.8k $46.5k $46.5k 0.01% New
67 WINMILL & CO. INC 0.01% of their portfolio WALPOLE, NH 3,6003.6k $29.0k $29.0k 0.01% Unchanged
68 Clearstead Advisors, LLC 0.00% of their portfolio CLEVELAND, OH 3,0003.0k $24.2k $24.2k 0.00% Unchanged
69 Wealth Preservation Advisors, LLC 0.01% of their portfolio CHATTANOOGA, TN 2,0002.0k $16.1k $16.1k 0.01% Unchanged
70 Ameritas Advisory Services, LLC 0.00% of their portfolio Lincoln, NE 1,9201.9k $15.5k $15.5k 0.00% New
71 Capital Advisors, Ltd. LLC 0.00% of their portfolio SHAKER HEIGHTS, OH 1,6221.6k $13.0k $13.0k 0.00% Unchanged
72 CONSULTIVA WEALTH MANAGEMENT, CORP. 0.03% of their portfolio SAN JUAN, PR 1,3501.4k $10.9k $10.9k 0.03% Unchanged
73 North Capital, Inc. 0.01% of their portfolio SALT LAKE CITY, UT 1,2691.3k $10.2k $10.2k 0.01% Unchanged
74 Spire Wealth Management 0.00% of their portfolio MCLEAN, VA 1,0001.0k $8.1k $8.1k 0.00% Unchanged
75 Kentucky Trust Co 0.00% of their portfolio DANVILLE, KY 500500 $4.0k $4.0k 0.00% Unchanged
76 BELLEVUE ASSET MANAGEMENT, LLC 0.00% of their portfolio BELLEVUE, WA 420420 $3.4k $3.4k 0.00% Unchanged
77 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 400400 $3.2k $3.2k 0.00% Unchanged
78 Investors Research Corp 0.00% of their portfolio ATLANTA, GA 387387 $3.1k $3.1k 0.00% Unchanged
79 Global Retirement Partners, LLC 0.00% of their portfolio San Rafael, CA 187187 $1.5k $1.5k 0.00% First filing
80 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 11 $8 $8 0.00% Reduced -12.5k -12,482
81 CONCOURSE FINANCIAL GROUP SECURITIES, INC. — of their portfolio BIRMINGHAM, AL 00 $0 $0 — Unchanged