# Saba Capital Management, L.P.

> Saba Capital Management, L.P. is an SEC-registered investment advisory firm in New York, NY, registered since 2010, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated May 29, 2026.

- CRD: 154362
- Filed as: SABA CAPITAL MANAGEMENT, L.P.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: May 29, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/154362
- AdvisorCensus page: https://advisorcensus.com/firm/saba-capital-management-l-p-new-york-ny-154362

## Quick answers

**How is Saba Capital Management, L.P. compensated?**
On its Form ADV (Item 5.E, October 2026), Saba Capital Management, L.P. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Saba Capital Management, L.P. located?**
Saba Capital Management, L.P.'s principal office is in New York, NY, according to its Form ADV; the June 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Saba Capital Management, L.P. registered with the SEC or a state?**
Saba Capital Management, L.P. is an SEC-registered investment advisory firm, registered since 2010. Status as filed: Approved. CRD 154362.

**How much does Saba Capital Management, L.P. manage?**
Saba Capital Management, L.P. reports $18,303,991,573 in regulatory assets under management in its Form ADV filing dated May 29, 2026 (100% discretionary).

**How have Saba Capital Management, L.P.'s assets and staff changed since 2021?**
In the Form ADV data for Saba Capital Management, L.P.: Regulatory assets under management: $5,925,090,737 in the October 2021 data and $18,303,991,573 in the October 2026 data, up 209%. Total employees: 35 in October 2021 and 67 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Saba Capital Management, L.P. serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (30); investment companies (3); state or municipal government entities (including government pension plans) (3).

**Which custodians does Saba Capital Management, L.P. use?**
Saba Capital Management, L.P.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Bank of New York Mellon, Barclays Bank PLC, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and TD Prime Services LLC as custodians holding 10% or more of its separately managed account assets.

**Does Saba Capital Management, L.P. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/154362

**What changed in Saba Capital Management, L.P.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 19 to 17. Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Bank of New York Mellon
- Barclays Bank PLC
- Goldman Sachs & Co. LLC
- J.P. Morgan Securities LLC
- Morgan Stanley & Co. LLC
- TD Prime Services LLC

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $18,303,991,573
- Discretionary: $18,303,991,573
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 3 | $1,513,373,919 |
| Pooled investment vehicles (other than investment companies and business development companies) | 30 | $15,423,166,765 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 2 | $101,049,715 |
| State or municipal government entities (including government pension plans) | 3 | $457,695,729 |
| Other investment advisers | 3 | $808,705,445 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Other

### Firm details
- Registered since: 2010 (16 years)
- Employees: 67 total, 17 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the June 2026 filing
- London

### Websites listed on Form ADV (Item 1.I)
- [sabacapital.com](https://sabacapital.com)
- [sabacef.com](https://sabacef.com)
- LinkedIn @saba-capital-management-l-p-

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $5,925,090,737 | 35 | May 25, 2021 |
| October 2022 | $9,702,690,235 | 39 | August 29, 2022 |
| October 2023 | $9,727,578,922 | 41 | September 26, 2023 |
| October 2024 | $13,424,813,328 | 52 | July 8, 2024 |
| October 2025 | $17,012,727,997 | 58 | March 31, 2025 |
| October 2026 | $18,303,991,573 | 67 | May 29, 2026 |

Regulatory assets under management: $5,925,090,737 in the October 2021 data and $18,303,991,573 in the October 2026 data, up 209%.
Total employees: 35 in October 2021 and 67 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 19 to 17.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Saba Capital Management, L.P. (CRD 154362): Form ADV filing data as of October 2026.