Saba Capital Management filed 1,039 Form 4 transactions across 26 companies, with total open-market sales of $317.7 million exceeding open-market purchases of $260.8 million. The selling is concentrated in a single closed-end fund, ECAT, where Saba has recorded 12 sales between August 24 and September 8, 2026. Those sales range from $516,235 on August 25 to $3.2 million on September 3, and total roughly $17.8 million over the two-week window. The firm has not reported any open-market purchases of ECAT in that period.
The buying side is spread across four other tickers. Saba bought GF on five separate days from September 1 through September 8, with individual transactions between $10,317 and $43,014. It also purchased ECF on six occasions from August 20 through September 4, with values from $14,964 to $84,048. Smaller buys appeared in GRX on August 21, August 27, and September 3, and a single $13,617 purchase of PDX on September 8. The recent split is nearly even by count, 13 buys versus 12 sells, but the dollar flow is heavily weighted to the ECAT sales.
The pattern shows Saba trimming its largest position while adding smaller amounts to several other funds. The ECAT sales are all coded as open-market sales, not distributions or tax withholdings. The purchases in GF, ECF, GRX, and PDX are all open-market buys as well. No option exercises, grants, or conversions appear in the recent activity. The firm's overall Form 4 history includes no acquired values, meaning all reported transactions are either purchases or sales rather than compensation events.
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