Saba Capital Management, L.P.

13F filer, CIK 1510281, NEW YORK, NY

Saba Capital Management, L.P. reported $3,698,848,701 across 270 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-15. Its ten largest share positions make up 55.44% of the portfolio.

Filed 2025-05-15 (acceptance time not in the bulk data set), ingested 2026-10-07 18:25:06 UTC13F-HR 0001062993-25-009540

Period: 2025-03-31
Reported value: $3.7B
Holdings: 270
Top 10 weight: 55.44%
New: 29
Sold out: 45

Part of the filer group Saba Capital Management, L.P.

Saba Capital Management GP, LLC
Boaz R. Weinstein

How groups are built

Stakes and trades reported after 2025-03-31

13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.

MXF MEXICO FD INC: 13D/A 2,393,834 shares, 16.6% of the class, 13D/A filed 2026-10-07, 0001062993-26-005216 Timeline
Accepted 2026-10-07 12:00:06 UTC, ingested 2026-10-07 12:01:29 UTC
ZTR VIRTUS TOTAL RETURN FD INC: 13D 2,519,703 shares, 5.04% of the class, 13D filed 2026-09-30, 0001062993-26-005116 Timeline
Accepted 2026-09-30 12:07:02 UTC, ingested 2026-10-06 10:15:04 UTC

Largest buys vs the previous quarter

Security	Shares change	Approx. value
PDXadded	+731,721	$18M
EVTLnew	+4,199,443	$14.1M
NBXGadded	+810,049	$9.92M
GAMadded	+152,234	$7.67M
BMBLadded	+1,692,873	$7.35M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

Security	Shares change	Approx. value
ASGIreduced	-1,596,340	-$29.4M
BSTZreduced	-1,487,051	-$26.4M
BCATreduced	-1,807,746	-$26M
VMOexited	-2,180,578	-$21.2M
NPCTreduced	-1,854,748	-$19.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001062993-25-009540, largest first. % of portfolio is the value over $3,644,001,826, the sum of the share positions whose value is usable for ratios (method).

Security	Shares	Value	% of portfolio	Change	Latest event	Timeline
ECATBLACKROCK ESG CAP ALLC TERM	28,605,041	$451M	12.38%	+52,314	2026-10-12, Form 4: sold 6,907 shares on 2026-10-12	Timeline
BTXBLACKROCK TECH AND PRIVATE E	60,675,395	$380M	10.42%	+519,269		Timeline
BMEZBLACKROCK HEALTH SCIENCES TE	20,750,913	$309M	8.48%	0		Timeline
PDXPIMCO DYNAMIC INCOME STRATEG	7,541,934	$185M	5.08%	+731,721	2026-10-12, Form 4: sold 146,928 shares on 2026-10-12	Timeline
BCATBLACKROCK CAP ALLOCATION TER	11,809,531	$170M	4.67%	-1,807,746		Timeline
XGDVXGABELLI DIVID & INCOME TR	6,348,579	$153M	4.2%	+251,409		Timeline
ASAASA GOLD AND PRECIOUS MTLS L	3,253,837	$98.1M	2.69%	0		Timeline
NBXGNEUBERGER NEXT GENERATION	7,663,379	$93.9M	2.58%	+810,049		Timeline
NFJVIRTUS DIVIDEND INTEREST & P	7,636,989	$92.6M	2.54%	-528,623	2026-10-12, 13D/A: 1,961,367 shares, 2.81% of the class, 13D/A filed 2026-10-14	Timeline
BSTZBLACKROCK SCIENCE & TECHNOLO	4,905,648	$87M	2.39%	-1,487,051		Timeline
ADXADAMS DIVERSIFIED EQUITY FD	4,462,956	$84.8M	2.33%	-965,910		Timeline
MEGINYLIM CBRE GLOBAL	6,235,018	$83M	2.28%	+459,205		Timeline
GAMGENERAL AMERN INVS CO INC	1,616,534	$81.4M	2.23%	+152,234		Timeline
PEOADAM NAT RES FD INC	2,888,993	$65.9M	1.81%	+46		Timeline
XNQPXNUVEEN PA INVT QUALITY MUN F	5,058,973	$56.8M	1.56%	0		Timeline
XBFZXBLACKROCK CA MUNI INC TR	4,752,360	$52.2M	1.43%	-447,728		Timeline
XNXJXNUVEEN NEW JERSEY	3,772,901	$44.4M	1.22%	-1,500,327		Timeline
HQLABRDN LIFE SCIENCES INVESTOR	3,188,405	$40.5M	1.11%	-241,618		Timeline
PIONEER MUNICIPAL HIGH INCO…PIONEER MUNICIPAL HIGH INCOME	4,131,903	$38M	1.04%	+23,942
EATON VANCE CALIFORNIA MUNI…EATON VANCE CALIFORNIA MUNI BO	4,023,724	$37.3M	1.02%	+185,072
AFBALLIANCEBERNSTEIN NATL MUN I	3,149,020	$34.2M	0.94%	0		Timeline
CNNECANNAE HLDGS INC	1,834,832	$33.6M	0.92%	-384,398		Timeline
EATON VANCE NEW YORK MUN BDEATON VANCE NEW YORK MUN BD	3,531,342	$33.5M	0.92%	+219,574
PIONEER MUNICIPAL HIGH INCO…PIONEER MUNICIPAL HIGH INCOME	3,922,889	$32.8M	0.9%	+161,761
TYGTORTOISE ENERGY INFRSTRCTR C	737,461	$31.7M	0.87%	-311,418		Timeline
LEOBNY MELLON STRATEGIC MUNS IN	5,114,769	$31.3M	0.86%	+181,976		Timeline
NMAINUVEEN MULTI ASSET INCOME FU	2,378,113	$28.6M	0.78%	-1,221,512		Timeline
SABASABA CAPITAL INCOME & OPPORT	2,935,985	$25.5M	0.7%	-222,737		Timeline
MUCBLACKROCK MUNIHLDNGS CALI	2,340,673	$25.1M	0.69%	+36,172		Timeline
PIONEER MUN HIGH INCOME OPPOPIONEER MUN HIGH INCOME OPPO	2,113,637	$24.9M	0.68%	+33,699
DSMBNY MELLON STRATEGIC MUN BD	4,250,548	$24.5M	0.67%	+122,966		Timeline
WBWEIBO CORP	2,359,357	$22.3M	0.61%	0		Timeline
MPABLACKROCK MUNIYIELD PA QUALI	1,972,009	$22.1M	0.61%	-246,884		Timeline
XBOEXBLACKROCK ENHANCED GLOBAL	1,825,927	$19.8M	0.54%	-322,841		Timeline
GRXGABELLI HEALTHCARE & WELLNES	1,956,488	$19.7M	0.54%	+45,454	2026-10-08, Form 4: bought 400 shares on 2026-10-08	Timeline
XBNYXBLACKROCK NEW YORK MUNI INC	1,934,784	$19.7M	0.54%	-247,503		Timeline
HQHABRDN HEALTHCARE INVESTORS	1,201,396	$19.5M	0.54%	-770,263		Timeline
BLACKROCK MUNIHLDGS NY QLTYBLACKROCK MUNIHLDGS NY QLTY	1,897,569	$19.3M	0.53%	-93,954
NBHNEUBERGER MUN FD INC	1,833,134	$19.1M	0.52%	-469,327		Timeline
IIFMORGAN STANLEY INDIA INVT FD	751,061	$18.3M	0.5%	+9,530		Timeline
ASGIABRDN GLOBAL INFRA INCOME FU	976,775	$18M	0.49%	-1,596,340		Timeline
BTTBLACKROCK MUN TARGET TERM TR	802,584	$17M	0.47%	+262,704		Timeline
GFNEW GERMANY FD INC	1,706,659	$16.7M	0.46%	+128,671	2026-10-12, Form 4: bought 3,100 shares on 2026-10-12	Timeline
ECOFIN SUSTAINABLE & SOC IM…ECOFIN SUSTAINABLE & SOC IMP T	1,383,564	$15.7M	0.43%	+42,107
DMADESTRA MULTI-ALTERNATIVE FD	1,738,401	$14.7M	0.4%	0		Timeline
PAGSPAGSEGURO DIGITAL LTD	1,921,385	$14.7M	0.4%	+43,759		Timeline
BCXBLACKROCK RES & COMMODITIES	1,529,095	$14.3M	0.39%	-1,273,913		Timeline
EVTLVERTICAL AEROSPACE LTD	4,199,443	$14.1M	0.39%	new		Timeline
XAODXABRDN TOTAL DYNAMIC DIVIDEND	1,599,240	$13.4M	0.37%	-2,328,554		Timeline
BMBLBUMBLE INC	3,078,609	$13.4M	0.37%	+1,692,873		Timeline
JOFJAPAN SMALLER CAPITALIZATION	1,585,045	$13.3M	0.36%	+550,850		Timeline
DMBBNY MELLON MUN BD INFRASTRUC	1,243,391	$13.1M	0.36%	+18,179		Timeline
ECFELLSWORTH GROWTH & INCOME FD	1,403,987	$12.7M	0.35%	0	2026-10-12, Form 4: bought 14,600 shares on 2026-10-12	Timeline
MYNBLACKROCK MUNIYIELD N Y QUAL	1,206,114	$12M	0.33%	-365,741		Timeline
GLOCLOUGH GLOBAL OPPORTUNITIES	2,403,877	$11.8M	0.32%	+7,451		Timeline
GNTGAMCO NAT RES GOLD & INCOME	1,806,177	$11M	0.3%	-20,635		Timeline
NMLNEUBERGER ENGY INFRSTR & INC	1,169,100	$10.5M	0.29%	-167,674		Timeline
TBLDTHORNBURG INCM BUILDER OPP T	550,494	$9.88M	0.27%	-155,473		Timeline
BIDUBAIDU INC	107,068	$9.85M	0.27%	0		Timeline
PIMCO CALIFORNIA MUNICIPAL …PIMCO CALIFORNIA MUNICIPAL INC	1,745,827	$9.85M	0.27%	+328,371
STHOSTAR HLDGS	1,137,060	$9.68M	0.27%	+114,862		Timeline
EODALLSPRING GLOBAL DIVIDEND OP	1,951,373	$9.66M	0.27%	+64,405		Timeline
EMOCLEARBRIDGE ENERGY MIDSTREAM	181,841	$9.02M	0.25%	-18,399		Timeline
RABROOKFIELD REAL ASSETS INCOM	654,324	$8.61M	0.24%	-344,416		Timeline
CXEMFS HIGH INCOME MUN TR	2,248,961	$8.3M	0.23%	+700		Timeline
SOCSABLE OFFSHORE CORP	291,402	$7.39M	0.2%	0		Timeline
DALDELTA AIR LINES INC	166,878	$7.28M	0.2%	+138,280		Timeline
CPZCALAMOS LNG SHR EQT DYNAMIC	444,502	$6.92M	0.19%	-472,343		Timeline
ABRDN JAPAN EQUITY FUND INCABRDN JAPAN EQUITY FUND INC	1,002,769	$6.52M	0.18%	+315,688
NPCTNUVEEN CORE PLUS IMPACT FUND	607,083	$6.49M	0.18%	-1,854,748		Timeline
CEVEATON VANCE CALIF MUN INCOM	638,737	$6.4M	0.18%	0		Timeline
HPPHUDSON PAC PPTYS INC	1,938,168	$5.72M	0.16%	+147,406		Timeline
IHDVOYA EMERGING MKTS HIGH DIVI	1,029,859	$5.5M	0.15%	+114,129		Timeline
SNAPSNAP INC	603,682	$5.26M	0.14%	+125,592		Timeline
LNCLINCOLN NATL CORP IND	127,625	$4.58M	0.13%	-125,115		Timeline
BCVBANCROFT FD LTD	259,680	$4.52M	0.12%	-22,721		Timeline
PGZPRINCIPAL REAL ESTATE INCOME	424,224	$4.47M	0.12%	+22,461		Timeline
ACHACCENDRA HEALTH INC	475,758	$4.3M	0.12%	new		Timeline
DIAXNUVEEN DOW 30SM DYNAMIC OVERWR	291,102	$4.22M	0.12%	0		Timeline
VERXVERTEX INC	118,435	$4.15M	0.11%	+41,143		Timeline
ERHALLSPRING UTILITIES AND HIGH	374,129	$4.12M	0.11%	0		Timeline
FMNFEDERATED HERMES PREM MUNI I	374,908	$4.07M	0.11%	0		Timeline
GDSGDS HLDGS LTD	154,174	$3.91M	0.11%	-5,154		Timeline
MURMURPHY OIL CORP	132,050	$3.75M	0.1%	new		Timeline
MFMABERDEEN MUN INCOME FD	683,746	$3.62M	0.1%	0		Timeline
IRENIREN LIMITED	582,572	$3.55M	0.1%	new		Timeline
ABUSARBUTUS BIOPHARMA CORP	979,516	$3.42M	0.09%	+91,523		Timeline
XGLQXCLOUGH GLOBAL EQUITY FD	526,276	$3.31M	0.09%	0		Timeline
TROXTRONOX HOLDINGS PLC	468,994	$3.3M	0.09%	new		Timeline
WGOWINNEBAGO INDS INC	95,431	$3.29M	0.09%	new		Timeline
UISUNISYS CORP	709,079	$3.25M	0.09%	-100,000		Timeline
PDDPDD HOLDINGS INC	27,500	$3.25M	0.09%	+2,500		Timeline
GLVCLOUGH GLOBAL DIVID & INCOME	593,789	$3.25M	0.09%	0		Timeline
QURATE RETAIL INCQURATE RETAIL INC	15,470,513	$3.11M	0.09%	+4,096,111
CBRECBRE GROUP INC	23,653	$3.09M	0.08%	new		Timeline
VISNVISTANCE NETWORKS INC	570,418	$3.03M	0.08%	0		Timeline
FIRST TRUSTFIRST TRUST	699,009	$3.01M	0.08%	0
MUJBLACKROCK MUNIHLDGS NJ QLTY	266,678	$3M	0.08%	-64,286		Timeline
UBERUBER TECHNOLOGIES INC	40,638	$2.96M	0.08%	0		Timeline
XBGYXBLACKROCK ENHANCED INTL DIV	505,845	$2.84M	0.08%	-1,851,037		Timeline
HOUSANYWHERE REAL ESTATE INC	752,940	$2.51M	0.07%	+190,963		Timeline
CPRICAPRI HOLDINGS LIMITED	122,261	$2.41M	0.07%	+53,456		Timeline
CODICOMPASS DIVERSIFIED	128,798	$2.4M	0.07%	+50,327		Timeline
XLGIXLAZARD GLOBAL TOTAL RETURN &	155,220	$2.39M	0.07%	-494,995		Timeline
PNIPIMCO NEW YORK MUN FD II	337,555	$2.39M	0.07%	+90,687		Timeline
POLESTAR AUTOMOTIVE HLDG UKPOLESTAR AUTOMOTIVE HLDG UK	2,249,600	$2.36M	0.06%	0
SWZTOTAL RETURN SECURITIES FUND	242,139	$2.23M	0.06%	-83,640		Timeline
HEQJOHN HANCOCK DIVERSIFIED INC	212,009	$2.2M	0.06%	0		Timeline
GEOGEO GROUP INC	68,914	$2.01M	0.06%	-7,500		Timeline
CORZCORE SCIENTIFIC INC NEW	254,714	$1.84M	0.05%	new		Timeline
VFLABRDN NATL MUN INCOME FD	174,177	$1.77M	0.05%	0		Timeline
GSHRUGESHER ACQUISITION CORP. II	175,000	$1.76M	0.05%	new		Timeline
VPVINVESCO PA VALUE MUN INC TR	166,030	$1.69M	0.05%	-309,914		Timeline
SABRSABRE CORP	489,312	$1.37M	0.04%	+107,730		Timeline
REALTHE REALREAL INC	250,008	$1.35M	0.04%	0		Timeline
GMGENERAL MTRS CO	28,600	$1.35M	0.04%	0		Timeline
TWNTAIWAN FD INC	35,254	$1.17M	0.03%	0		Timeline
XMVTXBLACKROCK MUNIVEST FUND II	108,020	$1.14M	0.03%	-72,013		Timeline
MXEMEXICO EQUITY & INCOME FD	118,600	$1.03M	0.03%	0		Timeline
ARBEARBE ROBOTICS LTD	1,000,000	$1.03M	0.03%	-676,725		Timeline
K&F GROWTH ACQUISITION CORPK&F GROWTH ACQUISITION CORP	100,000	$1.01M	0.03%	new
NHICUNEWHOLD INVT CORP III	100,000	$1.01M	0.03%	new		Timeline
FORWARD AIR CORPFORWARD AIR CORP	48,150	$967K	0.03%	+13,195
GRNTGRANITE RIDGE RESOURCES INC	115,878	$705K	0.02%	0		Timeline
AALAMERICAN AIRLINES GROUP INC	66,436	$701K	0.02%	new		Timeline
EMBCEMBECTA CORP	52,500	$669K	0.02%	new		Timeline
AVEPOINT INCAVEPOINT INC	148,668	$650K	0.02%	+38,079
EMFTEMPLETON EMERGING MKTS FD	44,869	$577K	0.02%	0		Timeline
HIPOHIPPO HLDGS INC	19,528	$499K	0.01%	0		Timeline
CARAVIS BUDGET GROUP INC	6,530	$496K	0.01%	+30		Timeline
CMPSCOMPASS PATHWAYS PLC	151,033	$432K	0.01%	0		Timeline
OPPFI INCOPPFI INC	198,227	$420K	0.01%	-15,000
FLDDWFOLD HLDGS INC	574,398	$416K	0.01%	new		Timeline
ARANTERO RESOURCES CORP	10,000	$404K	0.01%	0		Timeline
RMTROYCE MICRO-CAP TR INC	47,241	$398K	0.01%	0		Timeline
IONQ INCIONQ INC	32,248	$358K	0.01%	-2,000
LZMWSLIFEZONE METALS LIMITED	733,811	$334K	0.01%	+23,918		Timeline
CRMLCRITICAL METALS CORP	300,000	$315K	0.01%	new		Timeline
AEFABRDN EMERGING MARKETS EX CH	56,133	$278K	0.01%	-21,421		Timeline
COMPOSECURE INCCOMPOSECURE INC	66,257	$253K	0.01%	+8,889
BACQRINFLECTION PT ACQUISITION CORP	1,144,838	$240K	0.01%	-936,838		Timeline
BHVBLACKROCK VA MUN BD TR	18,407	$196K	0.01%	-15,935		Timeline
FBYDWFALCONS BEYOND GLOBAL INC	186,852	$192K	0.01%	0		Timeline
FUFUWBITFUFU INC	414,140	$189K	0.01%	-2,116		Timeline
DMY SQUARED TECHNOLOGY GROUPDMY SQUARED TECHNOLOGY GROUP	210,054	$168K	<0.01%	+134,520
AIRJWAIRJOULE TECHNOLOGIES CORP	275,647	$160K	<0.01%	0		Timeline
XPCQXPIMCO CALIF MUN INCOME FD	16,727	$148K	<0.01%	+100		Timeline
XIAEXVOYA ASIA PAC HIGH DIV EQT I	23,698	$146K	<0.01%	0		Timeline
NABORS ENERGY TRANSITION CORNABORS ENERGY TRANSITION COR	352,804	$140K	<0.01%	0
BTMWQBITCOIN DEPOT INC	1,858,357	$128K	<0.01%	-5,100		Timeline
SK GROWTH OPPORTUNITIES CORPSK GROWTH OPPORTUNITIES CORP	187,585	$118K	<0.01%	0
ENGNWENGENE HOLDINGS INC	178,334	$111K	<0.01%	0		Timeline
STLNSTARLING ONCOLOGY INC	94,264	$107K	<0.01%	0		Timeline
CRMLWCRITICAL METALS CORP	617,000	$104K	<0.01%	0		Timeline
NET POWER INCNET POWER INC	299,239	$91.3K	<0.01%	+269,576
YOTTA ACQUISITION CORPORATIOYOTTA ACQUISITION CORPORATIO	497,412	$88.4K	<0.01%	0
AISPWAIRSHIP AI HLDGS INC	72,591	$79.1K	<0.01%	-15,616		Timeline
ANSCWAGRICULTURE & NAT SOL ACQ CO	249,200	$77.2K	<0.01%	0		Timeline
ASBPWASPIRE-LAKEWOOD HOLDINGS INC	983,603	$71.8K	<0.01%	new		Timeline
PIMCO NEW YORK MUN INCMPIMCO NEW YORK MUN INCM	12,600	$71.1K	<0.01%	new
CLRRFCLIMATEROCK USD RTS (CYM) 01/3	350,000	$69.7K	<0.01%	0		Timeline
UWM HOLDINGS CORPORATIONUWM HOLDINGS CORPORATION	391,608	$68.8K	<0.01%	-22,278
EQV VENTURES ACQUISITION COREQV VENTURES ACQUISITION COR	172,293	$62.9K	<0.01%	-100
VLOSWVELOS ACQUISITION I CORP	215,703	$62.5K	<0.01%	new		Timeline
GLOBAL BLOCKCHAIN ACQUI CORPGLOBAL BLOCKCHAIN ACQUI CORP	675,000	$62.1K	<0.01%	0
ZEOWWZEO ENERGY CORP	726,030	$55.6K	<0.01%	0		Timeline
ISLWFISRAEL ACQUISITIONS CORP WT EX	472,500	$54.1K	<0.01%	+250,000		Timeline
METAL SKY STAR ACQUISITION CMETAL SKY STAR ACQUISITION C	600,000	$53.9K	<0.01%	0
MELAR ACQUISITION CORP. IMELAR ACQUISITION CORP. I	363,642	$49K	<0.01%	0
FISCALNOTE HOLDINGS INCFISCALNOTE HOLDINGS INC	273,057	$47.1K	<0.01%	-19,273
GCT SEMICONDUCTOR HLDG INCGCT SEMICONDUCTOR HLDG INC	710,648	$44.4K	<0.01%	0
Yotta Acquisition CorpYotta Acquisition Corp	800,012	$43.8K	<0.01%	0
FOXXWFOXX DEV HLDGS INC	244,962	$42.9K	<0.01%	-5,036		Timeline
Spring Valley Acquisition C…Spring Valley Acquisition Corp II	500,000	$42.8K	<0.01%	0
MRNOWMURANO GLOBAL INVT PLC	174,998	$40.4K	<0.01%	0		Timeline
Spring Valley Acquisition C…Spring Valley Acquisition Corp II	349,998	$40.3K	<0.01%	0
GSR III ACQUISITION CORPGSR III ACQUISITION CORP	26,255	$38.6K	<0.01%	0
SBCWWSBC MED GROUP HLDGS INC	200,000	$37.2K	<0.01%	0		Timeline
GRABWGRAB HOLDINGS LIMITED	84,913	$36.3K	<0.01%	0		Timeline
GPATWGP-ACT III ACQUISITION CORP	193,229	$36K	<0.01%	0		Timeline
HVIIRHENNESSY CAP INVT CORP VII	175,000	$35.7K	<0.01%	new		Timeline
DRDBWROMAN DBDR ACQUISITION CORP	90,625	$32.4K	<0.01%	new		Timeline
UNITED HOMES GROUP INCUNITED HOMES GROUP INC	55,110	$31.7K	<0.01%	0
SLDPWSOLID POWER INC	175,286	$30.7K	<0.01%	0		Timeline
RDZNWROADZEN INC	541,499	$29.5K	<0.01%	0		Timeline
VAST RENEWABLES LIMITEDVAST RENEWABLES LIMITED	704,071	$28.5K	<0.01%	0
GWHWSESS TECH INC	303,596	$28.2K	<0.01%	0		Timeline
ABPWWABPRO HLDGS INC WT EXP 11/12/2	997,048	$27.7K	<0.01%	0		Timeline
FLYEXCLUSIVE INCFLYEXCLUSIVE INC	230,500	$25.5K	<0.01%	0
EON RESOURCES INCEON RESOURCES INC	500,000	$23.9K	<0.01%	0
SILVERBOX CORP IVSILVERBOX CORP IV	67,710	$23.7K	<0.01%	-100
ARBEWARBE ROBOTICS LTD	114,180	$23.7K	<0.01%	-35,000		Timeline
DENALI CAPITAL ACQUISITN CORDENALI CAPITAL ACQUISITN COR	410,000	$20.5K	<0.01%	0
BRLSWBOREALIS FOODS INC	166,894	$19.7K	<0.01%	0		Timeline
CYCUWCYCURION INC	500,000	$18.8K	<0.01%	0		Timeline
GLOBAL BLK-CW27 EQUITYGLOBAL BLK-CW27 EQUITY	675,000	$18.6K	<0.01%	0
BEAGRBOLD EAGLE ACQUISITION CORP	79,657	$18.3K	<0.01%	-32,302		Timeline
HOLLEY INCHOLLEY INC	298,716	$18K	<0.01%	0
DYNCWDYNAMIX CORP	61,725	$17.7K	<0.01%	new		Timeline
DISTOKEN ACQUISITION CORP (…DISTOKEN ACQUISITION CORP (U.S.) …	99,762	$17.6K	<0.01%	0
ZOOZWZOOZ STRATEGY LTD	262,498	$17.1K	<0.01%	0		Timeline
OPTXWSYNTEC OPTICS HLDGS INC	332,000	$16.8K	<0.01%	0		Timeline
PLMKWPLUM ACQUISITION CORP IV	99,999	$16.5K	<0.01%	new		Timeline
LibityLibity	724,998	$15.6K	<0.01%	0
GREENLAND MINES LTDGREENLAND MINES LTD	694,779	$15.5K	<0.01%	0
GCLWWGCL GLOBAL HLDGS LTD	275,000	$15.4K	<0.01%	new		Timeline
MDAIWSPECTRAL AI INC	59,763	$15.3K	<0.01%	0		Timeline
WALDWWALDENCAST PLC	99,998	$14.6K	<0.01%	0		Timeline
ZCARWZOOMCAR HLDGS INC WT EXP 12/31	1,123,291	$14.2K	<0.01%	0		Timeline
VGASWVERDE CLEAN FUELS INC	73,108	$14K	<0.01%	0		Timeline
CCIXWCHURCHILL CAPITAL CORP IX	19,519	$13.7K	<0.01%	-18,581		Timeline
TBLAWTABOOLA.COM LTD	72,280	$12.8K	<0.01%	0		Timeline
HENNESSY CAPITAL INVST CORPHENNESSY CAPITAL INVST CORP	83,480	$12.5K	<0.01%	0
CPTWFCAPTIVISION INC	649,998	$11.9K	<0.01%	0		Timeline
BDMDWBAIRD MED INVT HLDGS LTD	132,013	$11.9K	<0.01%	0		Timeline
VSEEWVSEE HEALTH INC	243,249	$11.1K	<0.01%	0		Timeline
DIH HLDG US INCDIH HLDG US INC	945,000	$10.7K	<0.01%	0
LDTDFLEDDARTECH HLDGS INC WT EXP 12	176,796	$10.7K	<0.01%	0		Timeline
GGROWGOGORO INC	400,330	$10K	<0.01%	0		Timeline
OSRHWOSR HEALTH INC	250,000	$9.75K	<0.01%	new		Timeline
Aimfinity Investment Corp IAimfinity Investment Corp I	120,000	$9.32K	<0.01%	0
ORGNWORIGIN MATERIALS INC	155,950	$8.41K	<0.01%	0		Timeline
SMXWWSMX SEC MATTERS PLC	265,947	$8.2K	<0.01%	0		Timeline
METAL SKY STAR ACQUISITION CMETAL SKY STAR ACQUISITION C	600,000	$7.38K	<0.01%	0
HCM II ACQUISITION CORPHCM II ACQUISITION CORP	10,535	$7.22K	<0.01%	new
CDTTWCDT EQUITY INC	765,000	$7.04K	<0.01%	0		Timeline
CDIOWCARDIO DIAGNOSTICS HOLDGS IN	199,839	$7.01K	<0.01%	0		Timeline
OABIWOMNIAB INC	20,000	$6.45K	<0.01%	0		Timeline
HOVRWNEW HORIZON AIRCRAFT LTD	199,659	$6.28K	<0.01%	0		Timeline
NVNIWNVNI GROUP LIMITED	211,075	$6.03K	<0.01%	0		Timeline
STRATA CRITICAL MEDICAL INCSTRATA CRITICAL MEDICAL INC	27,728	$5.98K	<0.01%	-2,207
CROWN LONG HOLDINGSCROWN LONG HOLDINGS	150,000	$5.65K	<0.01%	0
Cartesian Growth Corp IICartesian Growth Corp II	88,329	$5.49K	<0.01%	0
PBMWWPSYENCE BIOMEDICAL LTD	297,847	$5.05K	<0.01%	0		Timeline
ClimateRockClimateRock	174,998	$4.37K	<0.01%	0
BNAIWBRAND ENGAGEMENT NETWORK INC	212,302	$4.32K	<0.01%	0		Timeline
SUMMIT HEALTHCARE ACQUISITI…SUMMIT HEALTHCARE ACQUISITION	97,299	$4.01K	<0.01%	0
WTS PHOENIX BIOTECH ACQUISI…WTS PHOENIX BIOTECH ACQUISITIO	295,913	$3.77K	<0.01%	0
ALGOMA STL GROUP INCALGOMA STL GROUP INC	10,200	$3.74K	<0.01%	0
ALFUWCENTURION ACQUISITION CORP	21,410	$3.52K	<0.01%	new		Timeline
SONWQSONDER HLDGS INC WT EXP 01/31/	531,114	$3.4K	<0.01%	0		Timeline
ALCWFALCHEMY INVTS ACQUISITN CORP	21,669	$3.39K	<0.01%	new		Timeline
ALURWALLURION TECHNOLOGIES INC WT P	122,683	$3.32K	<0.01%	0		Timeline
LOTWWLOTUS TECHNOLOGY INC	26,945	$3.29K	<0.01%	0		Timeline
TWIN RIDGE CAPITAL ACQUISIT…TWIN RIDGE CAPITAL ACQUISITION	81,901	$3.19K	<0.01%	0
PARAWBANZAI INTERNATIONAL INC	124,100	$2.7K	<0.01%	0		Timeline
ECXWWECARX HOLDINGS INC	43,358	$2.66K	<0.01%	0		Timeline
SWVLWSWVL HOLDINGS CORP	170,222	$2.38K	<0.01%	0		Timeline
FORLWWTS/FOUR LEAF ACQUISITION CORPORA…	65,000	$2.37K	<0.01%	0		Timeline
Distoken Acquisition CorpDistoken Acquisition Corp	99,762	$2.31K	<0.01%	0
HUBCWHUB CYBER SECURITY LTD	179,799	$2.29K	<0.01%	0		Timeline
PERFECT CORPPERFECT CORP	41,822	$1.69K	<0.01%	0
ADVANTAGE SOLUTIONS INCADVANTAGE SOLUTIONS INC	151,879	$1.66K	<0.01%	0
BOLT PROJECTS HLDSBOLT PROJECTS HLDS	41,097	$1.6K	<0.01%	0
BUTTERFLY NETWORK INCBUTTERFLY NETWORK INC	16,866	$1.43K	<0.01%	0
BAERWBRIDGER AEROSPACE GRP HLDGS	18,752	$1.11K	<0.01%	0		Timeline
LIVEWIRE GROUP INCLIVEWIRE GROUP INC	49,203	$1.04K	<0.01%	0
SLXNWSILEXION THERAPEUTICS CORP	11,937	$835	<0.01%	0		Timeline
WTS/CIIG CAPITAL PARTNERS I…WTS/CIIG CAPITAL PARTNERS II INC …	95,903	$753	<0.01%	0
CCGWWCHECHE GROUP INC	22,099	$723	<0.01%	0		Timeline
LONGEVITY HEALTH HLDGS INCLONGEVITY HEALTH HLDGS INC	19,604	$706	<0.01%	0
RMCOWROYALTY MGMT HLDG CORP	19,443	$467	<0.01%	0		Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

Security	Type	Amount	Value	Change
AALAMERICAN AIRLINES GROUP INC Stock	put	5,062,500	$53.4M	-6,139,800
MARAMARA HOLDINGS INC Stock	put	125,000	$1.44M	new

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

Security	Type	Amount	Value	Change
CAPITAL SOUTHWEST CORPCAPITAL SOUTHWEST CORP Convertible Bond	principal	10,000,000	$9.79M	0
STARWOOD PPTY TR INCSTARWOOD PPTY TR INC NOTE 6.750% 7/1	principal	5,000,000	$5.34M	0
WOLFSPEED INCWOLFSPEED INC NOTE 0.250% 2/1	principal	8,150,000	$2.1M	new
DRAFTKINGS INC NEWDRAFTKINGS INC NEW CNV	principal	2,000,000	$1.75M	0
FIRSTENERGY CORPFIRSTENERGY CORP NOTE 4.000% 5/0	principal	1,000,000	$1.01M	0
NIO INCNIO INC NOTE 4.625%10/1	principal	250,000	$174K	0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

Security	Shares before	Value before	Type
NORDSTROM INCNORDSTROM INC	2,649,900	$64M	put
VMOINVESCO MUN OPPORTUNIT TR	2,180,578	$21.2M	shares
UNITED STATES STL CORP NEWUNITED STATES STL CORP NEW	552,400	$18.8M	put
NEW AMERICA HIGH INCOME FUN…NEW AMERICA HIGH INCOME FUND I	1,866,253	$15.2M	shares
MMACYS INC	773,200	$13.1M	put
MRLNMERLIN INC	1,224,823	$12.1M	shares
MIYBLACKROCK MUNIYIELD MICH QU	540,766	$6.05M	shares
EDDMORGAN STANLEY EMERGING MKTS	1,299,351	$5.9M	shares
ZTRVIRTUS TOTAL RETURN FD INC	608,509	$3.57M	shares
MMUWESTERN ASSET MANAGED MUNS F	260,609	$2.66M	shares
BRWSABA CAPITAL INCOME & OPRNT	333,902	$2.54M	shares
VTNINVESCO TR INVT GRADE NEW YO	200,901	$2.1M	shares
MDPEDIATRIX MEDICAL GROUP INC	147,590	$1.94M	shares
KYNKAYNE ANDERSON ENERGY INFRST	138,370	$1.76M	shares
XAGDXABRDN GLOBAL DYNAMIC DIVIDEN	170,973	$1.68M	shares
WRLDWORLD ACCEP CORPORATION	9,226	$1.04M	shares
CSG SYS INTL INCCSG SYS INTL INC	1,000,000	$1.01M	principal
BGRBLACKROCK ENERGY & RES TR	47,819	$603K	shares
CARTICA ACQUISITION CORPCARTICA ACQUISITION CORP	924,997	$250K	shares
TPZTORTOISE CAPITAL SERIES TRUS	11,234	$225K	shares
NIO INCNIO INC	250,000	$188K	principal
CSLM Acquisition CorpCSLM Acquisition Corp	949,800	$142K	shares
PIMCO NY MUNICIPAL INCOME FDPIMCO NY MUNICIPAL INCOME FD	14,771	$110K	shares
BROAD CAPITAL ACQUISITION COBROAD CAPITAL ACQUISITION CO	800,000	$88K	shares
D-WAVE QUANTUM INCD-WAVE QUANTUM INC	17,930	$70.7K	shares
MARS ACQUISITION CORPMARS ACQUISITION CORP	175,000	$65.2K	shares
WELSBACH TECH METALS ACQU COWELSBACH TECH METALS ACQU CO	600,000	$52.5K	shares
INFLECTION PT ACQUISITN CRPINFLECTION PT ACQUISITN CRP	100,000	$50K	shares
CSLM ACQUISITION CORPCSLM ACQUISITION CORP	524,998	$49.9K	shares
POWERUP ACQUISITION CORPPOWERUP ACQUISITION CORP	983,603	$40.6K	shares
RF ACQUISITION CORPRF ACQUISITION CORP	275,000	$39.5K	shares
BYNDBEYOND MEAT INC	10,000	$37.6K	put
RTS/BELLEVUE LIFE SCNCS AQS…RTS/BELLEVUE LIFE SCNCS AQSTN CORP	250,000	$33.6K	shares
Valuence Merger Corp IValuence Merger Corp I	926,848	$32.5K	shares
Papaya Growth Opportunity C…Papaya Growth Opportunity Corp I	1,142,325	$29.7K	shares
WTS/EVERGREEN CORPORATION E…WTS/EVERGREEN CORPORATION EXP 02/…	905,624	$21.3K	shares
BENSON HILL INCBENSON HILL INC	10,309	$20.3K	shares
RF ACQUISITION CORPRF ACQUISITION CORP	275,000	$12.1K	shares
Futuretech II Acquisition C…Futuretech II Acquisition Corp	650,003	$11.7K	shares
WTS/BELLEVUE LIFE SCNCS AQS…WTS/BELLEVUE LIFE SCNCS AQSTN CORP	250,000	$11K	shares
TECHNOLOGY & TELECOMMUNICAT…TECHNOLOGY & TELECOMMUNICATION	650,000	$10.6K	shares
E2OPEN PARENT HOLDINGS…E2OPEN PARENT HOLDINGS …	304,759	$5.73K	shares
INNOVID CORPINNOVID CORP	34,236	$3.51K	shares
NKGEN BIOTECH INCNKGEN BIOTECH INC	31,129	$3.5K	shares
HYZON MOTORS INCHYZON MOTORS INC	73,492	$364	shares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

Filing	Role	Amendment	Filed	Accepted	Ingested
13F-HR 0001062993-25-009540	base		2025-05-15	acceptance time not in the bulk data set	2026-10-07 18:25:06 UTC