Saba Capital Management, L.P. filed 1,148 Form 4 transactions across 27 companies, with a clear tilt toward buying. The fund reported $271.99 million in open-market purchases against $335.81 million in sales, but the recent activity is almost entirely one-directional. In the last two weeks of October 2026, Saba executed 22 open-market buys and only two sales, both in PDX on October 21, totaling $77,867. The buying spree concentrated on closed-end funds: MXF, LEO, DSM, GF, ECF, JOF, and PDX.
The largest recent purchase was a $1.42 million buy in LEO on October 16, followed by a $1.02 million position in IAE the same day, though that trade was coded as a conversion, not a fresh purchase. GF drew the heaviest single-day investment on October 20, with $906,898 in buys. DSM saw repeated accumulation across four consecutive trading days, from $77,528 on October 20 to $477,877 on October 16. JOF received $358,200 on October 19 and $193,691 on October 16. Smaller buys in ECF and MXF ranged from $20,844 to $327,435.
The pattern shows no compensation grants, option exercises, or tax-withholding sales in the recent window. Every recent transaction except the two PDX sales is an open-market purchase, and the dollar values are substantial relative to typical insider filings. Saba is adding to existing positions in these funds rather than trimming them. The two PDX sales are small compared with the concurrent buying, and they do not offset the overall direction of the fund's October activity.
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