ECAT - CEFS: Professional Exposure To A Niche Market Strategy
2025-06-17 07:55:11 ET
Saba Closed-end Funds ETF ( CEFS ) invests in a somewhat forgotten area of the market that's very interesting from time to time. Closed-end funds frequently trade at prices below their Net Asset Value (NAV). This means there’s an opportunity for investors to acquire a portfolio of assets for less than their market value. One example, I personally like, is Pershing Square Holdings (PSHZF), wth the following holdings ( according to its website ):
Company |
Sector |
Market Cap USD |
Technology |
~$2.14 Trillion |
Brookfield Corporation ( BAM ) |
Financials |
~$97.63 Billion |
Canadian Pacific Kansas City Limited ( CP ) |
Transportation |
~$103.87 Billion |
Chipotle Mexican Grill, Inc. ( CMG ) |
Restaurant |
~$67.82 Billion |
Federal Home Loan Mortgage Association ( FNMA ) |
Financials |
~$5.16 Billion* |
Federal National Mortgage Association ( FNMA ) |
Financials |
~$11.52 Billion* |
Hertz Global Holdings, Inc. ( HTZ ) |
Consumer Services |
~$2.17 Billion |
Hilton Worldwide Holdings Inc. ( HLT ) |
Hospitality |
~$57.97 Billion |
Howard Hughes Holdings, Inc. (HHH) |
Real Estate |
~$4.19 Billion |
Nike, Inc. ( NKE ) |
Consumer Products |
~$92.81 Billion |
Pershing Square SPARC Holdings, Ltd. |
Special Purpose Rights Company |
Not Applicable** |
Restaurant Brands International Inc. ( QSR ) |
Restaurant |
~$30.72 Billion |
Seaport Entertainment Group Inc. ( SEG ) |
Leisure & Hospitality |
~$260.24 Million |
Uber Technologies, Inc. ( UBER ) |
Consumer Services |
~$181.06 Billion |
Universal Music Group N.V. (UMGNF) |
Entertainment |
~$57.80 Billion |