Saba Capital Management, L.P.

13F filer, CIK 1510281, NEW YORK, NY

Saba Capital Management, L.P. reported $4,256,537,362 across 322 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 51.35% of the portfolio.

Filed 2025-08-14 (acceptance time not in the bulk data set), ingested 2026-10-07 18:23:11 UTC13F-HR 0001062993-25-014442

Period: 2025-06-30
Reported value: $4.26B
Holdings: 322
Top 10 weight: 51.35%
New: 97
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

Largest buys vs the previous quarter

Security	Shares change	Approx. value
WENNUnew	+1,963,229	$20.8M
RDAGnew	+1,900,000	$19.5M
ETORnew	+260,000	$17.3M
MXFnew	+866,862	$15.2M
XIAEXadded	+1,792,989	$12.6M

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
BMEZexited	-20,750,913	-$309M
BCATreduced	-4,007,058	-$60.7M
ADXreduced	-1,592,803	-$34.6M
ASGIexited	-976,775	-$18M
XNXJXreduced	-1,472,137	-$16.7M

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, Q2 2025

Share positions as resolved from 13F-HR 0001062993-25-014442, largest first. % of portfolio is the value over $3,669,531,498, 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	$459M	12.52%	0	2026-10-12, Form 4: sold 6,907 shares on 2026-10-12	Timeline
BTXBLACKROCK TECH AND PRIVATE E	60,675,395	$445M	12.14%	0		Timeline
PDXPIMCO DYNAMIC INCOME STRATEG	7,527,897	$186M	5.06%	-14,037	2026-10-12, Form 4: sold 146,928 shares on 2026-10-12	Timeline
XGDVXGABELLI DIVID & INCOME TR	6,768,149	$176M	4.8%	+419,570		Timeline
BCATBLACKROCK CAP ALLOCATION TER	7,802,473	$118M	3.22%	-4,007,058		Timeline
NBXGNEUBERGER NEXT GENERATION	7,663,379	$112M	3.05%	0		Timeline
ASAASA GOLD AND PRECIOUS MTLS L	3,253,837	$103M	2.8%	0		Timeline
GAMGENERAL AMERN INVS CO INC	1,802,645	$101M	2.75%	+186,111		Timeline
NFJVIRTUS DIVIDEND INTEREST & P	7,683,458	$95.3M	2.6%	+46,469	2026-10-12, 13D/A: 1,974,536 shares, 2.83% of the class, 13D/A filed 2026-10-14	Timeline
MEGINYLIM CBRE GLOBAL	6,259,969	$89M	2.42%	+24,951		Timeline
BSTZBLACKROCK SCIENCE & TECHNOLO	4,127,740	$85.7M	2.33%	-777,908		Timeline
ADXADAMS DIVERSIFIED EQUITY FD	2,870,153	$62.3M	1.7%	-1,592,803		Timeline
PEOADAM NAT RES FD INC	2,877,339	$61.5M	1.68%	-11,654		Timeline
XNQPXNUVEEN PA INVT QUALITY MUN F	5,058,973	$56.8M	1.55%	0		Timeline
XBFZXBLACKROCK CA MUNI INC TR	4,692,717	$50.7M	1.38%	-59,643		Timeline
EATON VANCE CALIFORNIA MUNI…EATON VANCE CALIFORNIA MUNI BO	4,544,380	$40.5M	1.1%	+520,656
CNNECANNAE HLDGS INC	1,935,921	$40.4M	1.1%	+101,089		Timeline
HQLABRDN LIFE SCIENCES INVESTOR	3,017,539	$38.7M	1.05%	-170,866		Timeline
PIONEER MUNICIPAL HIGH INCO…PIONEER MUNICIPAL HIGH INCOME	4,201,829	$38.5M	1.05%	+69,926
EATON VANCE NEW YORK MUN BDEATON VANCE NEW YORK MUN BD	3,898,946	$36.2M	0.99%	+367,604
PIONEER MUNICIPAL HIGH INCO…PIONEER MUNICIPAL HIGH INCOME	4,015,961	$33.3M	0.91%	+93,072
LEOBNY MELLON STRATEGIC MUNS IN	5,581,552	$33M	0.9%	+466,783		Timeline
AFBALLIANCEBERNSTEIN NATL MUN I	3,149,020	$32.5M	0.88%	0		Timeline
EVTLVERTICAL AEROSPACE LTD	4,315,701	$29.2M	0.8%	+116,258		Timeline
DSMBNY MELLON STRATEGIC MUN BD	5,152,591	$28.9M	0.79%	+902,043		Timeline
IIFMORGAN STANLEY INDIA INVT FD	1,016,952	$28.7M	0.78%	+265,891		Timeline
BMBLBUMBLE INC	4,252,362	$28M	0.76%	+1,173,753		Timeline
TYGTORTOISE ENERGY INFRSTRCTR C	625,915	$27.5M	0.75%	-111,546		Timeline
XNXJXNUVEEN NEW JERSEY	2,300,764	$26.1M	0.71%	-1,472,137		Timeline
PIONEER MUN HIGH INCOME OPPOPIONEER MUN HIGH INCOME OPPO	2,161,352	$25.5M	0.7%	+47,715
SABASABA CAPITAL INCOME & OPPORT	2,764,970	$25.4M	0.69%	-171,015		Timeline
WBWEIBO CORP	2,617,357	$24.9M	0.68%	+258,000		Timeline
XBOEXBLACKROCK ENHANCED GLOBAL	2,172,011	$24.7M	0.67%	+346,084		Timeline
GFNEW GERMANY FD INC	1,938,389	$23.1M	0.63%	+231,730	2026-10-12, Form 4: bought 3,100 shares on 2026-10-12	Timeline
NMAINUVEEN MULTI ASSET INCOME FU	1,771,563	$22.4M	0.61%	-606,550		Timeline
WENNUWEN ACQUISITION CORP	1,963,229	$20.8M	0.57%	new		Timeline
JOFJAPAN SMALLER CAPITALIZATION	2,107,155	$20.3M	0.55%	+522,110		Timeline
RDAGREPUBLIC DIGITAL ACQUISITION	1,900,000	$19.5M	0.53%	new		Timeline
BTTBLACKROCK MUN TARGET TERM TR	877,113	$19.2M	0.52%	+74,529		Timeline
MUCBLACKROCK MUNIHLDNGS CALI	1,836,624	$19M	0.52%	-504,049		Timeline
ECOFIN SUSTAINABLE & SOC IM…ECOFIN SUSTAINABLE & SOC IMP T	1,549,226	$19M	0.52%	+165,662
GRXGABELLI HEALTHCARE & WELLNES	1,976,875	$18.7M	0.51%	+20,387	2026-10-08, Form 4: bought 400 shares on 2026-10-08	Timeline
BLACKROCK MUNIHLDGS NY QLTYBLACKROCK MUNIHLDGS NY QLTY	1,798,909	$17.7M	0.48%	-98,660
XBNYXBLACKROCK NEW YORK MUNI INC	1,826,197	$17.7M	0.48%	-108,587		Timeline
ETORETORO GROUP LTD	260,000	$17.3M	0.47%	new		Timeline
NBHNEUBERGER MUN FD INC	1,746,177	$17.2M	0.47%	-86,957		Timeline
DMADESTRA MULTI-ALTERNATIVE FD	1,958,054	$17.1M	0.47%	+219,653		Timeline
ECFELLSWORTH GROWTH & INCOME FD	1,627,221	$16.7M	0.45%	+223,234	2026-10-08, Form 4: bought 27,937 shares on 2026-10-08	Timeline
BCXBLACKROCK RES & COMMODITIES	1,674,206	$15.8M	0.43%	+145,111		Timeline
MXFMEXICO FD INC	866,862	$15.2M	0.42%	new	2026-10-05, 13D/A: 2,393,834 shares, 16.6% of the class, 13D/A filed 2026-10-07	Timeline
SNAPSNAP INC	1,729,048	$15M	0.41%	+1,125,366		Timeline
GLOCLOUGH GLOBAL OPPORTUNITIES	2,655,724	$14.4M	0.39%	+251,847		Timeline
DMBBNY MELLON MUN BD INFRASTRUC	1,287,011	$13.2M	0.36%	+43,620		Timeline
XIAEXVOYA ASIA PAC HIGH DIV EQT I	1,816,687	$12.8M	0.35%	+1,792,989		Timeline
MPABLACKROCK MUNIYIELD PA QUALI	1,177,841	$12.7M	0.35%	-794,168		Timeline
PAGSPAGSEGURO DIGITAL LTD	1,293,415	$12.5M	0.34%	-627,970		Timeline
UBERUBER TECHNOLOGIES INC	128,836	$12M	0.33%	+88,198		Timeline
HFROHIGHLAND OPPS & INCOME FD	2,271,159	$11.8M	0.32%	new		Timeline
ABRDN JAPAN EQUITY FUND INCABRDN JAPAN EQUITY FUND INC	1,516,469	$11.4M	0.31%	+513,700
AMATAPPLIED MATLS INC	62,421	$11.4M	0.31%	new		Timeline
XOMEXXON MOBIL CORP	102,458	$11M	0.3%	new		Timeline
PMTRPERIMETER ACQUISITION CORP I	1,058,692	$10.8M	0.29%	new		Timeline
PROCAP ACQUISITION CORPPROCAP ACQUISITION CORP	1,000,000	$10.7M	0.29%	new
GNTGAMCO NAT RES GOLD & INCOME	1,693,672	$10.7M	0.29%	-112,505		Timeline
IHDVOYA EMERGING MKTS HIGH DIVI	1,748,915	$10.4M	0.28%	+719,056		Timeline
DIAXNUVEEN DOW 30SM DYNAMIC OVERWR	712,188	$10.2M	0.28%	+421,086		Timeline
EODALLSPRING GLOBAL DIVIDEND OP	1,888,921	$10.2M	0.28%	-62,452		Timeline
NMLNEUBERGER ENGY INFRSTR & INC	1,047,478	$9.43M	0.26%	-121,622		Timeline
PIMCO CALIFORNIA MUNICIPAL …PIMCO CALIFORNIA MUNICIPAL INC	1,758,771	$9.43M	0.26%	+12,944
RABROOKFIELD REAL ASSETS INCOM	693,898	$9.28M	0.25%	+39,574		Timeline
BIDUBAIDU INC	107,068	$9.18M	0.25%	0		Timeline
BABOEING CO	43,368	$9.09M	0.25%	new		Timeline
DAAQDIGITAL ASSET ACQUISITION CO	850,000	$8.91M	0.24%	new		Timeline
STHOSTAR HLDGS	1,108,520	$8.66M	0.24%	-28,540		Timeline
CXEMFS HIGH INCOME MUN TR	2,387,798	$8.55M	0.23%	+138,837		Timeline
RAAQREAL ASSET ACQUISITION CORP	822,246	$8.35M	0.23%	new		Timeline
TACOBERTO ACQUISITION CORP	700,000	$7.29M	0.2%	new		Timeline
IRENIREN LIMITED	490,100	$7.14M	0.19%	-92,472		Timeline
DJTTRUMP MEDIA & TECHNOLOGY GRO	388,802	$7.01M	0.19%	new		Timeline
MSFTMICROSOFT CORP	13,230	$6.58M	0.18%	new		Timeline
MYNBLACKROCK MUNIYIELD N Y QUAL	682,211	$6.5M	0.18%	-523,903		Timeline
SOCSABLE OFFSHORE CORP	291,402	$6.41M	0.17%	0		Timeline
LWACULIGHTWAVE ACQUISITION CORP	600,000	$6.04M	0.16%	new		Timeline
LNCLINCOLN NATL CORP IND	170,125	$5.89M	0.16%	+42,500		Timeline
TWNTAIWAN FD INC	123,446	$5.53M	0.15%	+88,192		Timeline
MFMABERDEEN MUN INCOME FD	1,041,627	$5.39M	0.15%	+357,881		Timeline
CEVEATON VANCE CALIF MUN INCOM	551,061	$5.34M	0.15%	-87,676		Timeline
HPPHUDSON PAC PPTYS INC	1,940,488	$5.32M	0.14%	+2,320		Timeline
CAEPCANTOR EQUITY PARTNERS III I	500,000	$5.28M	0.14%	new		Timeline
GDSGDS HLDGS LTD	167,174	$5.11M	0.14%	+13,000		Timeline
IPCXINFLECTION PT ACQUISITION CO	500,000	$5.1M	0.14%	new		Timeline
NVDANVIDIA CORPORATION	31,754	$5.02M	0.14%	new		Timeline
CORZCORE SCIENTIFIC INC NEW	285,000	$4.86M	0.13%	+30,286		Timeline
TDFTEMPLETON DRAGON FD INC	484,570	$4.84M	0.13%	new		Timeline
BCVBANCROFT FD LTD	252,145	$4.77M	0.13%	-7,535		Timeline
MURMURPHY OIL CORP	206,140	$4.64M	0.13%	+74,090		Timeline
VERXVERTEX INC	125,076	$4.42M	0.12%	+6,641		Timeline
TYTRI CONTL CORP	131,968	$4.18M	0.11%	new		Timeline
VISNVISTANCE NETWORKS INC	487,184	$4.03M	0.11%	-83,234		Timeline
FMNFEDERATED HERMES PREM MUNI I	374,908	$3.99M	0.11%	0		Timeline
ERHALLSPRING UTILITIES AND HIGH	339,783	$3.92M	0.11%	-34,346		Timeline
ABUSARBUTUS BIOPHARMA CORP	1,260,129	$3.89M	0.11%	+280,613		Timeline
AESAES CORP	369,582	$3.89M	0.11%	new		Timeline
XGLQXCLOUGH GLOBAL EQUITY FD	535,253	$3.81M	0.1%	+8,977		Timeline
PGZPRINCIPAL REAL ESTATE INCOME	361,704	$3.81M	0.1%	-62,520		Timeline
FFORD MTR CO	343,351	$3.73M	0.1%	new		Timeline
EMBCEMBECTA CORP	379,209	$3.67M	0.1%	+326,709		Timeline
TROXTRONOX HOLDINGS PLC	710,363	$3.6M	0.1%	+241,369		Timeline
UISUNISYS CORP	784,297	$3.55M	0.1%	+75,218		Timeline
GLVCLOUGH GLOBAL DIVID & INCOME	604,107	$3.43M	0.09%	+10,318		Timeline
POLESTAR AUTOMOTIVE HLDG UKPOLESTAR AUTOMOTIVE HLDG UK	3,193,804	$3.42M	0.09%	+944,204
CEPTCANTOR EQUITY PARTNERS II IN	300,000	$3.31M	0.09%	new		Timeline
SABRSABRE CORP	1,036,309	$3.27M	0.09%	+546,997		Timeline
PIONEER FLOATING RATE FUND IPIONEER FLOATING RATE FUND I	319,614	$3.14M	0.09%	new
PACHUPIONEER ACQUISITION I CORP	298,473	$2.99M	0.08%	new		Timeline
WGOWINNEBAGO INDS INC	101,884	$2.95M	0.08%	+6,453		Timeline
NPACNEW PROVIDENCE ACQUISITION C	286,897	$2.93M	0.08%	new		Timeline
OBAWUOXLEY BRIDGE ACQ LTD	288,758	$2.89M	0.08%	new		Timeline
TDSTELEPHONE & DATA SYS INC	80,000	$2.85M	0.08%	new		Timeline
AMDADVANCED MICRO DEVICES INC	19,978	$2.83M	0.08%	new		Timeline
PIONEER HIGH INCOME FUND INCPIONEER HIGH INCOME FUND INC	350,342	$2.83M	0.08%	new
CBRECBRE GROUP INC	20,000	$2.8M	0.08%	-3,653		Timeline
MOSMOSAIC CO	73,456	$2.68M	0.07%	new		Timeline
PNIPIMCO NEW YORK MUN FD II	384,989	$2.59M	0.07%	+47,434		Timeline
HQHABRDN HEALTHCARE INVESTORS	164,102	$2.54M	0.07%	-1,037,294		Timeline
RMTROYCE MICRO-CAP TR INC	271,614	$2.51M	0.07%	+224,373		Timeline
GEOGEO GROUP INC	103,914	$2.49M	0.07%	+35,000		Timeline
HEQJOHN HANCOCK DIVERSIFIED INC	230,747	$2.44M	0.07%	+18,738		Timeline
GRFSGRIFOLS S A	269,686	$2.44M	0.07%	new		Timeline
ABNBAIRBNB INC	18,378	$2.43M	0.07%	new		Timeline
HOUSANYWHERE REAL ESTATE INC	659,843	$2.39M	0.07%	-93,097		Timeline
REALTHE REALREAL INC	493,938	$2.37M	0.06%	+243,930		Timeline
XBGYXBLACKROCK ENHANCED INTL DIV	402,259	$2.33M	0.06%	-103,586		Timeline
VFLABRDN NATL MUN INCOME FD	230,993	$2.23M	0.06%	+56,816		Timeline
CPRICAPRI HOLDINGS LIMITED	122,261	$2.16M	0.06%	0		Timeline
XCAFXMORGAN STANLEY CHINA A SH FD	153,827	$2.12M	0.06%	new		Timeline
WDCWESTERN DIGITAL CORP	32,751	$2.1M	0.06%	new		Timeline
VOYGVOYAGER TECHNOLOGIES INC	52,094	$2.04M	0.06%	new		Timeline
MUJBLACKROCK MUNIHLDGS NJ QLTY	186,623	$2.04M	0.06%	-80,055		Timeline
FIGXUFIGX CAP ACQUISITION CORP.	200,000	$2M	0.05%	new		Timeline
PLAYDAVE & BUSTERS ENTMT INC	60,000	$1.8M	0.05%	new		Timeline
ARBEARBE ROBOTICS LTD	1,000,000	$1.78M	0.05%	0		Timeline
XMVTXBLACKROCK MUNIVEST FUND II	170,229	$1.76M	0.05%	+62,209		Timeline
CYHCOMMUNITY HEALTH SYS INC NEW	509,009	$1.73M	0.05%	new		Timeline
CODICOMPASS DIVERSIFIED	255,825	$1.61M	0.04%	+127,027		Timeline
SWZTOTAL RETURN SECURITIES FUND	245,033	$1.55M	0.04%	+2,894		Timeline
BACBANK OF AMER CORP	32,482	$1.54M	0.04%	new		Timeline
GMGENERAL MTRS CO	28,600	$1.41M	0.04%	0		Timeline
MXEMEXICO EQUITY & INCOME FD	118,600	$1.24M	0.03%	0		Timeline
PYPLPAYPAL HLDGS INC	16,524	$1.23M	0.03%	new		Timeline
BLUWUBLUE WTR ACQUISITION CORP. I	116,238	$1.16M	0.03%	new		Timeline
MCGAUYORKVILLE ACQUISITION CORP.	100,000	$1.12M	0.03%	new		Timeline
CRMLCRITICAL METALS CORP	300,000	$1.07M	0.03%	0		Timeline
COLUMBUS CIRCLE CAP CORP. ICOLUMBUS CIRCLE CAP CORP. I	100,000	$1.06M	0.03%	new
RTACRENATUS TACTICAL ACQUIS	88,344	$1.04M	0.03%	new		Timeline
IONQ INCIONQ INC	32,248	$1.02M	0.03%	0
AVEPOINT INCAVEPOINT INC	126,377	$982K	0.03%	-22,291
CPZCALAMOS LNG SHR EQT DYNAMIC	53,861	$874K	0.02%	-390,641		Timeline
PIMCO NEW YORK MUN INCMPIMCO NEW YORK MUN INCM	164,840	$864K	0.02%	+152,240
GRNTGRANITE RIDGE RESOURCES INC	115,878	$738K	0.02%	0		Timeline
ACHACCENDRA HEALTH INC	74,255	$676K	0.02%	-401,503		Timeline
OPPFI INCOPPFI INC	153,564	$657K	0.02%	-44,663
RDAGWREPUBLIC DIGITAL ACQUISITION	949,999	$656K	0.02%	new		Timeline
EMFTEMPLETON EMERGING MKTS FD	44,869	$655K	0.02%	0		Timeline
HIPOHIPPO HLDGS INC	19,528	$545K	0.01%	0		Timeline
BTMWQBITCOIN DEPOT INC	1,368,295	$544K	0.01%	-490,062		Timeline
CFCF INDUSTRIES HOLD	5,764	$530K	0.01%	new		Timeline
KFKOREA FD INC	19,633	$529K	0.01%	new		Timeline
CHINA FD INCCHINA FD INC	35,164	$524K	0.01%	new
NCVVIRTUS CONVERTIBLE & INCOME	32,244	$458K	0.01%	new		Timeline
RITMRITHM CAPITAL CORP	40,000	$452K	0.01%	new		Timeline
CMPSCOMPASS PATHWAYS PLC	151,033	$423K	0.01%	0		Timeline
KYNKAYNE ANDERSON ENERGY INFRST	32,266	$410K	0.01%	new		Timeline
ARANTERO RESOURCES CORP	10,000	$403K	0.01%	0		Timeline
DAAQWDIGITAL ASSET ACQUISITION CO	471,140	$400K	0.01%	new		Timeline
FLDDWFOLD HLDGS INC	568,730	$395K	0.01%	-5,668		Timeline
BZAIWBLAIZE HLDGS INC	1,062,350	$394K	0.01%	new		Timeline
DMY SQUARED TECHNOLOGY GROUPDMY SQUARED TECHNOLOGY GROUP	211,454	$385K	0.01%	+1,400
BACQRINFLECTION PT ACQUISITION CORP	1,144,838	$371K	0.01%	0		Timeline
PMTRWPERIMETER ACQUISITION CORP I	554,845	$355K	0.01%	new		Timeline
PIONEER DIVERSIFIED HIGH IN…PIONEER DIVERSIFIED HIGH INCOM	28,082	$351K	0.01%	new
COMPOSECURE INCCOMPOSECURE INC	51,257	$321K	0.01%	-15,000
RAAQWREAL ASSET ACQUISITION CORP	687,813	$316K	0.01%	new		Timeline
ZTRVIRTUS TOTAL RETURN FD INC	47,645	$297K	0.01%	new	2026-09-28, 13D: 2,519,703 shares, 5.04% of the class, 13D filed 2026-09-30	Timeline
CRMLWCRITICAL METALS CORP	617,000	$281K	0.01%	0		Timeline
TACOWBERTO ACQUISITION CORP	406,561	$279K	0.01%	new		Timeline
QVCAQQVC GROUP INC	100,714	$277K	0.01%	new		Timeline
AEFABRDN EMERGING MARKETS EX CH	46,174	$274K	0.01%	-9,959		Timeline
VLOSWVELOS ACQUISITION I CORP	149,170	$274K	0.01%	-66,533		Timeline
NUNU HLDGS LTD	19,928	$273K	0.01%	new		Timeline
UBSUBS GROUP AG	7,844	$265K	0.01%	new		Timeline
LZMWSLIFEZONE METALS LIMITED	733,911	$225K	0.01%	+100		Timeline
IPCXRINFLECTION PT ACQUISITION CO	512,200	$205K	0.01%	new		Timeline
STLNSTARLING ONCOLOGY INC	94,264	$193K	0.01%	0		Timeline
EQV VENTURES ACQUISITION COREQV VENTURES ACQUISITION COR	231,592	$170K	<0.01%	+59,299
AIRJWAIRJOULE TECHNOLOGIES CORP	275,647	$169K	<0.01%	0		Timeline
NABORS ENERGY TRANSITION CORNABORS ENERGY TRANSITION COR	352,804	$168K	<0.01%	0
MELAR ACQUISITION CORP. IMELAR ACQUISITION CORP. I	438,551	$153K	<0.01%	+74,909
FBYDWFALCONS BEYOND GLOBAL INC	186,852	$153K	<0.01%	0		Timeline
ENGNWENGENE HOLDINGS INC	178,334	$146K	<0.01%	0		Timeline
FUFUWBITFUFU INC	414,140	$125K	<0.01%	0		Timeline
HCM II ACQUISITION CORPHCM II ACQUISITION CORP	48,932	$115K	<0.01%	+38,397
RTACWRENATUS TACTICAL ACQUIS	56,866	$115K	<0.01%	new		Timeline
LOKVWLIVE OAK ACQUISITION CORP V	164,350	$113K	<0.01%	new		Timeline
ISLWFISRAEL ACQUISITIONS CORP WT EX	472,500	$109K	<0.01%	0		Timeline
DYNCWDYNAMIX CORP	252,283	$98.3K	<0.01%	+190,558		Timeline
KIDZWKIDZ AI INC	699,290	$97.2K	<0.01%	new		Timeline
DRDBWROMAN DBDR ACQUISITION CORP	174,262	$91.5K	<0.01%	+83,637		Timeline
NET POWER INCNET POWER INC	260,059	$91K	<0.01%	-39,180
AISPWAIRSHIP AI HLDGS INC	42,591	$84.8K	<0.01%	-30,000		Timeline
SILVERBOX CORP IVSILVERBOX CORP IV	67,710	$77.9K	<0.01%	0
Spring Valley Acquisition C…Spring Valley Acquisition Corp II	500,000	$70K	<0.01%	0
GCT SEMICONDUCTOR HLDG INCGCT SEMICONDUCTOR HLDG INC	710,648	$68.9K	<0.01%	0
FACTWFACT II ACQUISITION CORP	237,350	$65.3K	<0.01%	new		Timeline
GPATWGP-ACT III ACQUISITION CORP	193,229	$63.8K	<0.01%	0		Timeline
HOVRWNEW HORIZON AIRCRAFT LTD	199,659	$59.9K	<0.01%	0		Timeline
SLDPWSOLID POWER INC	175,286	$58.7K	<0.01%	0		Timeline
LIMNWLIMINATUS PHARMA INC.	233,761	$56.1K	<0.01%	new		Timeline
HVIIRHENNESSY CAP INVT CORP VII	175,000	$54.2K	<0.01%	0		Timeline
NPACWNEW PROVIDENCE ACQUISITION C	95,631	$53.6K	<0.01%	new		Timeline
DAICWCID HOLDCO INC	726,048	$53K	<0.01%	new		Timeline
GRMLGREENLAND MINES LTD	43,947	$49.7K	<0.01%	new		Timeline
Spring Valley Acquisition C…Spring Valley Acquisition Corp II	349,998	$47.5K	<0.01%	0
ZEOWWZEO ENERGY CORP	726,030	$46.4K	<0.01%	0		Timeline
ASBPWASPIRE-LAKEWOOD HOLDINGS INC	983,603	$44.2K	<0.01%	0		Timeline
MDAIWSPECTRAL AI INC	59,763	$40.3K	<0.01%	0		Timeline
SBCWWSBC MED GROUP HLDGS INC	200,000	$38.6K	<0.01%	0		Timeline
UNITED HOMES GROUP INCUNITED HOMES GROUP INC	55,110	$38.6K	<0.01%	0
ANSCWAGRICULTURE & NAT SOL ACQ CO	249,200	$37.4K	<0.01%	0		Timeline
FOXXWFOXX DEV HLDGS INC	244,962	$34.3K	<0.01%	0		Timeline
MRNOWMURANO GLOBAL INVT PLC	174,998	$34.1K	<0.01%	0		Timeline
GRABWGRAB HOLDINGS LIMITED	84,913	$33.2K	<0.01%	0		Timeline
ARBEWARBE ROBOTICS LTD	114,180	$32.3K	<0.01%	0		Timeline
SIMAWSIM ACQUISITION CORP. I	111,217	$30.6K	<0.01%	new		Timeline
CYCUWCYCURION INC	500,000	$30.5K	<0.01%	0		Timeline
DISTOKEN ACQUISITION CORP (…DISTOKEN ACQUISITION CORP (U.S.) …	99,762	$28.9K	<0.01%	0
RDZNWROADZEN INC	541,499	$28.2K	<0.01%	0		Timeline
UWM HOLDINGS CORPORATIONUWM HOLDINGS CORPORATION	380,604	$26.3K	<0.01%	-11,004
FISCALNOTE HOLDINGS INCFISCALNOTE HOLDINGS INC	273,057	$25.9K	<0.01%	0
GCLWWGCL GLOBAL HLDGS LTD	275,000	$25.6K	<0.01%	0		Timeline
EON RESOURCES INCEON RESOURCES INC	500,000	$25.6K	<0.01%	0
OPTXWSYNTEC OPTICS HLDGS INC	332,000	$25.2K	<0.01%	0		Timeline
FLYEXCLUSIVE INCFLYEXCLUSIVE INC	230,500	$24.8K	<0.01%	0
NHICWNEWHOLD INVT CORP III	49,998	$24.3K	<0.01%	new		Timeline
ABPWWABPRO HLDGS INC WT EXP 11/12/2	997,048	$23K	<0.01%	0		Timeline
PLMKWPLUM ACQUISITION CORP IV	99,999	$22.1K	<0.01%	0		Timeline
ALFUWCENTURION ACQUISITION CORP	71,410	$21.4K	<0.01%	+50,000		Timeline
GTENWGORES HLDGS X INC	31,616	$19.3K	<0.01%	new		Timeline
NAMMWNAMIB MINERALS	83,480	$16.5K	<0.01%	new		Timeline
DIH HLDG US INCDIH HLDG US INC	945,000	$16.1K	<0.01%	0
ZOOZWZOOZ STRATEGY LTD	262,498	$15.8K	<0.01%	0		Timeline
BRLSWBOREALIS FOODS INC	166,894	$15K	<0.01%	0		Timeline
TBLAWTABOOLA.COM LTD	72,280	$14.9K	<0.01%	0		Timeline
HOLLEY INCHOLLEY INC	298,716	$14.7K	<0.01%	0
KFIIRK&F GROWTH ACQUISITION CORP	100,000	$13.8K	<0.01%	new		Timeline
CPTWFCAPTIVISION INC	649,998	$13.6K	<0.01%	0		Timeline
OSRHWOSR HEALTH INC	250,000	$13.3K	<0.01%	0		Timeline
VGASWVERDE CLEAN FUELS INC	73,108	$13.1K	<0.01%	0		Timeline
RACWSRITHM ACQUISITION CORP	25,000	$12.2K	<0.01%	new		Timeline
GWHWSESS TECH INC	303,596	$12.1K	<0.01%	0		Timeline
VSEEWVSEE HEALTH INC	243,249	$11.4K	<0.01%	0		Timeline
NVNIWNVNI GROUP LIMITED	211,075	$10.9K	<0.01%	0		Timeline
BDMDWBAIRD MED INVT HLDGS LTD	132,013	$10.6K	<0.01%	0		Timeline
Distoken Acquisition CorpDistoken Acquisition Corp	99,762	$9.98K	<0.01%	0
WALDWWALDENCAST PLC	99,998	$9.7K	<0.01%	0		Timeline
BGLWWBLUE GOLD LTD	484,298	$9.69K	<0.01%	new		Timeline
CDTTWCDT EQUITY INC	765,000	$8.38K	<0.01%	0		Timeline
WTS PHOENIX BIOTECH ACQUISI…WTS PHOENIX BIOTECH ACQUISITIO	295,913	$7.04K	<0.01%	0
BNAIWBRAND ENGAGEMENT NETWORK INC	212,302	$6.59K	<0.01%	0		Timeline
GGROWGOGORO INC	400,330	$6.18K	<0.01%	0		Timeline
STRATA CRITICAL MEDICAL INCSTRATA CRITICAL MEDICAL INC	27,728	$6.17K	<0.01%	0
LPBBWLAUNCH TWO ACQUISITION CORP.	14,427	$6.06K	<0.01%	new		Timeline
PBMWWPSYENCE BIOMEDICAL LTD	297,847	$6.03K	<0.01%	0		Timeline
SMXWWSMX SEC MATTERS PLC	265,947	$5.32K	<0.01%	0		Timeline
ALGOMA STL GROUP INCALGOMA STL GROUP INC	10,200	$4.91K	<0.01%	0
CROWN LONG HOLDINGSCROWN LONG HOLDINGS	150,000	$4.77K	<0.01%	0
SONWQSONDER HLDGS INC WT EXP 01/31/	531,114	$4.75K	<0.01%	0		Timeline
HUBCWHUB CYBER SECURITY LTD	179,799	$4.65K	<0.01%	0		Timeline
ALURWALLURION TECHNOLOGIES INC WT P	122,683	$4.36K	<0.01%	0		Timeline
SUMMIT HEALTHCARE ACQUISITI…SUMMIT HEALTHCARE ACQUISITION	97,299	$3.55K	<0.01%	0
OABIWOMNIAB INC	20,000	$3.46K	<0.01%	0		Timeline
CDIOWCARDIO DIAGNOSTICS HOLDGS IN	199,839	$3K	<0.01%	0		Timeline
LOTWWLOTUS TECHNOLOGY INC	26,945	$2.96K	<0.01%	0		Timeline
LIVEWIRE GROUP INCLIVEWIRE GROUP INC	49,203	$2.96K	<0.01%	0
PARAWBANZAI INTERNATIONAL INC	124,100	$2.82K	<0.01%	0		Timeline
ORGNWORIGIN MATERIALS INC	155,950	$2.78K	<0.01%	0		Timeline
SWVLWSWVL HOLDINGS CORP	170,222	$2.57K	<0.01%	0		Timeline
ECXWWECARX HOLDINGS INC	43,358	$2.5K	<0.01%	0		Timeline
ALCWFALCHEMY INVTS ACQUISITN CORP	21,669	$2.45K	<0.01%	0		Timeline
FORLWWTS/FOUR LEAF ACQUISITION CORPORA…	65,000	$2.05K	<0.01%	0		Timeline
ADVANTAGE SOLUTIONS INCADVANTAGE SOLUTIONS INC	151,879	$1.93K	<0.01%	0
TWIN RIDGE CAPITAL ACQUISIT…TWIN RIDGE CAPITAL ACQUISITION	81,901	$1.75K	<0.01%	0
PERFECT CORPPERFECT CORP	41,822	$1.72K	<0.01%	0
BAERWBRIDGER AEROSPACE GRP HLDGS	18,752	$1.41K	<0.01%	0		Timeline
BUTTERFLY NETWORK INCBUTTERFLY NETWORK INC	16,866	$1.02K	<0.01%	0
BOLT PROJECTS HLDSBOLT PROJECTS HLDS	41,097	$958	<0.01%	0
CCGWWCHECHE GROUP INC	22,099	$600	<0.01%	0		Timeline
RMCOWROYALTY MGMT HLDG CORP	19,443	$576	<0.01%	0		Timeline
LONGEVITY HEALTH HLDGS INCLONGEVITY HEALTH HLDGS INC	19,604	$525	<0.01%	0
SLXNWSILEXION THERAPEUTICS CORP	11,937	$488	<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
MSFTMICROSOFT CORP COM	put	205,800	$102M	new
AMDADVANCED MICRO DEVICES INC COM	put	515,700	$73.2M	new
UBERUBER TECHNOLOGIES INC COM	put	683,100	$63.7M	new
BABOEING CO COM	put	298,300	$62.5M	new
AMATAPPLIED MATLS INC COM	put	332,100	$60.8M	new
XOMEXXON MOBIL CORP COM	put	545,300	$58.8M	new
WDCWESTERN DIGITAL CORP COM	put	550,800	$35.2M	new
MOSMOSAIC CO Stock	put	952,600	$34.8M	new
NVDANVIDIA CORPORATION COM	put	183,000	$28.9M	new
FFORD MTR CO Stock	put	2,642,800	$28.7M	new
BACBANK OF AMER CORP COM	put	209,900	$9.93M	new
ABNBAIRBNB INC COM	put	70,400	$9.32M	new
RITMRITHM CAPITAL CORP REIT	put	500,000	$5.64M	new
PYPLPAYPAL HLDGS INC STOK	put	75,700	$5.63M	new
CFCF INDUSTRIES HOLD Stock	put	26,800	$2.47M	new
MARAMARA HOLDINGS INC Stock	put	124,900	$1.96M	-100
UBSUBS GROUP AG Stock	put	53,700	$1.82M	new
NUNU HLDGS LTD ORD SHS CL A	put	94,800	$1.3M	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	$10M	0
STARWOOD PPTY TR INCSTARWOOD PPTY TR INC NOTE 6.750% 7/1	principal	5,000,000	$5.36M	0
DRAFTKINGS INC NEWDRAFTKINGS INC NEW CNV	principal	2,000,000	$1.8M	0
WOLFSPEED INCWOLFSPEED INC NOTE 0.250% 2/1	principal	5,000,000	$1.22M	-3,150,000

Sold out in Q2 2025

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

Security	Shares before	Value before	Type
BMEZBLACKROCK HEALTH SCIENCES TE	20,750,913	$309M	shares
AALAMERICAN AIRLINES GROUP INC	5,062,500	$53.4M	put
ASGIABRDN GLOBAL INFRA INCOME FU	976,775	$18M	shares
XAODXABRDN TOTAL DYNAMIC DIVIDEND	1,599,240	$13.4M	shares
TBLDTHORNBURG INCM BUILDER OPP T	550,494	$9.88M	shares
EMOCLEARBRIDGE ENERGY MIDSTREAM	181,841	$9.02M	shares
DALDELTA AIR LINES INC	166,878	$7.28M	shares
NPCTNUVEEN CORE PLUS IMPACT FUND	607,083	$6.49M	shares
PDDPDD HOLDINGS INC	27,500	$3.25M	shares
QURATE RETAIL INCQURATE RETAIL INC	15,470,513	$3.11M	shares
FIRST TRUSTFIRST TRUST	699,009	$3.01M	shares
XLGIXLAZARD GLOBAL TOTAL RETURN &	155,220	$2.39M	shares
GSHRUGESHER ACQUISITION CORP. II	175,000	$1.76M	shares
VPVINVESCO PA VALUE MUN INC TR	166,030	$1.69M	shares
FIRSTENERGY CORPFIRSTENERGY CORP	1,000,000	$1.01M	principal
K&F GROWTH ACQUISITION CORPK&F GROWTH ACQUISITION CORP	100,000	$1.01M	shares
NHICUNEWHOLD INVT CORP III	100,000	$1.01M	shares
FORWARD AIR CORPFORWARD AIR CORP	48,150	$967K	shares
AALAMERICAN AIRLINES GROUP INC	66,436	$701K	shares
CARAVIS BUDGET GROUP INC	6,530	$496K	shares
BHVBLACKROCK VA MUN BD TR	18,407	$196K	shares
NIO INCNIO INC	250,000	$174K	principal
XPCQXPIMCO CALIF MUN INCOME FD	16,727	$148K	shares
SK GROWTH OPPORTUNITIES CORPSK GROWTH OPPORTUNITIES CORP	187,585	$118K	shares
YOTTA ACQUISITION CORPORATIOYOTTA ACQUISITION CORPORATIO	497,412	$88.4K	shares
CLRRFCLIMATEROCK USD RTS (CYM) 01/3	350,000	$69.7K	shares
GLOBAL BLOCKCHAIN ACQUI CORPGLOBAL BLOCKCHAIN ACQUI CORP	675,000	$62.1K	shares
METAL SKY STAR ACQUISITION CMETAL SKY STAR ACQUISITION C	600,000	$53.9K	shares
Yotta Acquisition CorpYotta Acquisition Corp	800,012	$43.8K	shares
GSR III ACQUISITION CORPGSR III ACQUISITION CORP	26,255	$38.6K	shares
VAST RENEWABLES LIMITEDVAST RENEWABLES LIMITED	704,071	$28.5K	shares
DENALI CAPITAL ACQUISITN CORDENALI CAPITAL ACQUISITN COR	410,000	$20.5K	shares
GLOBAL BLK-CW27 EQUITYGLOBAL BLK-CW27 EQUITY	675,000	$18.6K	shares
BEAGRBOLD EAGLE ACQUISITION CORP	79,657	$18.3K	shares
LibityLibity	724,998	$15.6K	shares
GREENLAND MINES LTDGREENLAND MINES LTD	694,779	$15.5K	shares
ZCARWZOOMCAR HLDGS INC WT EXP 12/31	1,123,291	$14.2K	shares
CCIXWCHURCHILL CAPITAL CORP IX	19,519	$13.7K	shares
HENNESSY CAPITAL INVST CORPHENNESSY CAPITAL INVST CORP	83,480	$12.5K	shares
LDTDFLEDDARTECH HLDGS INC WT EXP 12	176,796	$10.7K	shares
Aimfinity Investment Corp IAimfinity Investment Corp I	120,000	$9.32K	shares
METAL SKY STAR ACQUISITION CMETAL SKY STAR ACQUISITION C	600,000	$7.38K	shares
Cartesian Growth Corp IICartesian Growth Corp II	88,329	$5.49K	shares
ClimateRockClimateRock	174,998	$4.37K	shares
WTS/CIIG CAPITAL PARTNERS I…WTS/CIIG CAPITAL PARTNERS II INC …	95,903	$753	shares

How Q2 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 0001062993-25-014442	base		2025-08-14	acceptance time not in the bulk data set	2026-10-07 18:23:11 UTC