[144] Saba Capital Income & Opportunities Fund II SEC Filing

Rhea-AI Filing Summary

Form 144 filed for Saba Capital Income & Opportunities Fund II (SABA) reporting a proposed sale of 154,558 common shares to be executed on 09/17/2025 through multiple brokers on the NYSE. The filing shows the securities were originally acquired on 01/22/2018 in open-market purchases and paid in cash. The issuer's total shares outstanding are listed as 27,716,010, and the aggregate market value reported for the proposed 154,558-share sale is $1,404,932.22. The filing also lists prior sales by Saba Capital Management totaling ~121,502 shares across dates in June and September 2025 with gross proceeds for each trade provided.

Positive

• Timely and detailed disclosure of proposed sale including brokers, share counts, aggregate market value, and acquisition details
• Past three-month sales reported with gross proceeds, improving transparency about recent liquidity and trading activity
• Acquisition and payment method disclosed (open-market purchase on 01/22/2018; paid in cash), clarifying provenance of securities

Negative

• Significant recent selling activity by Saba Capital Management in June and September 2025 totaling approximately 121,502 shares
• Proposed sale adds additional supply of 154,558 shares on 09/17/2025 which may be relevant to holders monitoring insider/affiliate selling

Insights

Securities Analyst

TL;DR: A registered holder plans a sub-1% sale of outstanding shares, with recent active selling observed across September.

The filing discloses a proposed sale of 154,558 common shares (aggregate market value stated as $1,404,932.22) scheduled for 09/17/2025 via several major broker-dealers on the NYSE. The securities were acquired in the open market on 01/22/2018 and paid in cash. The report also documents a sequence of executed sales by Saba Capital Management in June and mid-September 2025 totaling approximately 121,502 shares with listed gross proceeds by trade. From an investor-information perspective, this is a routine Rule 144 notice that provides transparency about insider/affiliate selling activity and recent liquidity events.

Compliance/Risk Analyst

TL;DR: Filing appears procedurally complete and emphasizes representation of no undisclosed material adverse information.

The Form 144 includes acquisition details, payment method (cash), broker names, and past three-month sale records, meeting key disclosure elements required under Rule 144. The signer affirms no material nonpublic information exists regarding the issuer. Multiple reputable broker-dealers are named for execution, and the filing enumerates gross proceeds for recent trades, aiding auditability. There is no disclosure in the form of any adverse legal, regulatory, or financial condition in the issuer’s operations within this filing.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Capital Markets 155 Seaport Boulevard Boston MA 02210	154558	1404932.22	27716010	09/17/2025	NYSE
Common	FBN Securities 120 Broadway New York NY 10271	154558	1404932.22	27716010	09/17/2025	NYSE
Common	Barclays Bank PLC One Churchill Place, Canary Wharf London X0 E14 5HP	154558	1404932.22	27716010	09/17/2025	NYSE
Common	BTIG, LLC 350 Bush Street San Francisco CA 94104	154558	1404932.22	27716010	09/17/2025	NYSE
Common	CIBC Capital Markets 1 Battery Pl #10 New York NY 10014	154558	1404932.22	27716010	09/17/2025	NYSE
Common	Goldman Sachs & Co 200 West Street New York NY 10282	154558	1404932.22	27716010	09/17/2025	NYSE
Common	Northern Trust Corporation 50 South La Salle Street Chicago IL 60603	154558	1404932.22	27716010	09/17/2025	NYSE
Common	Brown Brothers Harriman & Co. 140 Broadway New York NY 10005	154558	1404932.22	27716010	09/17/2025	NYSE
Common	TD Bank, N.A. 1701 Route 70 East Cherry Hill NJ 08003	154558	1404932.22	27716010	09/17/2025	NYSE
Common	The Bank of New York Mellon Corporation 240 Greenwich Street New York NY 10286	154558	1404932.22	27716010	09/17/2025	NYSE
Common	JP Morgan Chase Bank, N.A. 270 Park Avenue New York NY 10017	154558	1404932.22	27716010	09/17/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/22/2018	Shares purchase in the open market at prevailing market price	Various unaffiliated third party brokers			154558	01/22/2018	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	06/17/2025	6250	56322.50
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/08/2025	22029	203673.53
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/09/2025	17238	159125.13
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/10/2025	32619	299904.21
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/11/2025	1855	17010.67
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/12/2025	26625	244039.53
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/15/2025	15986	146488.20

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for SABA report?

The filing reports a proposed sale of 154,558 common shares to be sold on 09/17/2025 through multiple NYSE brokers with an aggregate market value of $1,404,932.22.

When were the securities acquired and how were they paid for?

The securities were acquired on 01/22/2018 in open-market purchases from various unaffiliated brokers and the payment was made in cash.

How many shares does the issuer have outstanding according to the filing?

The filing lists 27,716,010 shares outstanding for the issuer.

What recent sales by the seller are disclosed in the filing?

The filing lists sales by Saba Capital Management in 2025 including 6,250 shares on 06/17/2025 and multiple September trades (e.g., 22,029, 17,238, 32,619, 1,855, 26,625, 15,986) with gross proceeds provided for each trade.

Does the filing include any representation about undisclosed information?

Yes, the signer represents they do not know any material adverse information about the issuer that has not been publicly disclosed.