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BRW: Portfolio Positioning A Bit Surprising


  • BRW has finally updated some of their portfolio positioning, and I'm a bit surprised with the amount of SPAC exposure.
  • They have implemented a 12% annual distribution plan that is likely to interest investors.
  • This can make it an interesting income play, but I suspect the payout to decline over time.
  • Looking for a portfolio of ideas like this one? Members of CEF/ETF Income Laboratory get exclusive access to our model portfolio. Learn More »

Businessman analyse investment marketing data.

ijeab/iStock via Getty Images

Editor's note: This article was amended on 4/4/2022 to reflect an updated expense ratio after the fund sponsor corrected their information.

Written by Nick Ackerman, co-produced by Stanford Chemist. A version of this article was originally published

BRW Fund Website

BRW Fund Website (Saba Capital)

Data by YCharts

Data by YCharts

BRW Distribution History

BRW Distribution History (CEFConnect)

BRW Annual Report

BRW Annual Report (Saba Capital)

BRW Portfolio Composition

BRW Portfolio Composition (Saba Capital)



BRW Top Holdings

BRW Top Holdings (Saba Capital)



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This article was written by

Nick Ackerman profile picture
CEF/ETF income and arbitrage strategies, 8%+ portfolio yields
Nick Ackerman is an avid student of the markets and has been investing in his own accounts for over 14 years. He is a former Financial Advisor and has previously qualified for holding Series 7 and Series 66 licenses. These licenses also specifically qualified him for the role of Registered Investment Adviser (RIA), i.e., he was registered as a fiduciary and could manage assets for a fee and give advice. Since then he has continued with his passion for investing through writing for Seeking Alpha, providing his knowledge, opinions, and insights of the investing world. His specific focus is on closed-end funds as an attractive way to achieve income as well as general financial planning strategies towards achieving one’s long term financial goals.


I provide my work regularly to CEF/ETF Income Laboratory with articles that have an exclusivity period, this is noted in such articles. CEF/ETF Income Laboratory is a Marketplace Service provided by Stanford Chemist, right here on Seeking Alpha.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of BRW, HIE either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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