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

Rhea-AI Filing Summary

Saba Capital Income & Opportunities Fund II (symbol: SABA) submitted a Rule 144 notice disclosing proposed sales of 153,661 common shares to be executed on 09/23/2025 through multiple broker-dealers including Fidelity, Goldman Sachs, JP Morgan and others on the NYSE. The filing reports the aggregate market value of the proposed sale as $1,402,924.93 and lists total shares outstanding of the issuer as 27,716,010. The filer states these shares were acquired on 01/22/2018 in open-market purchases and paid in cash. The filing also reports sales by Saba Capital Management totaling 124,193 shares during September 2025 with listed gross proceeds by trade.

Positive

• Full Rule 144 disclosure provided with acquisition date, payment method, and broker list
• Planned sale size is modest (~153,661 shares, ~0.55% of 27,716,010 shares outstanding)
• Recent sales are itemized with dates and gross proceeds for transparency

Negative

• No 10b5-1 trading plan date or other trading-plan details are provided in the filing
• Filing does not identify the specific person or officers for whose account the sale is made (the form lists seller as Saba Capital Management for recent sales but the filer block lacks named individual details)

Insights

Securities Analyst

TL;DR: The filing discloses a modest planned sale (153,661 shares) and recent secondary-market dispositions totaling 124,193 shares.

The Rule 144 notice shows an intended block sale of 153,661 common shares with an aggregate market value of $1,402,924.93, representing approximately 0.55% of the stated 27,716,010 shares outstanding. The shares were acquired in the open market on 01/22/2018 and paid for in cash, indicating no restricted-acquisition complexity disclosed. Recent transactional history lists seven small trades in September 2025 totaling 124,193 shares and cash proceeds per trade. From an investor-impact perspective, these sales are disclosed compliantly and appear modest relative to outstanding share count, suggesting limited immediate dilution or market impact based on this filing alone.

Corporate Governance Expert

TL;DR: Disclosure is standard for Rule 144 sales; documentation shows multiple broker channels and attestation of no undisclosed material nonpublic information.

The notice identifies numerous broker-dealers that will execute the sale on 09/23/2025, which is consistent with orderly disposition practices. The signer makes the required representation that no material adverse nonpublic information is known. The filing does not include a trading plan date or other 10b5-1 plan details. For governance review, the filing contains the expected acquisition provenance (open-market purchases) and per-trade proceeds for recent sells, enabling analysts to track insider/affiliate disposition activity but not revealing internal rationale or strategic context.

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	153661	1402924.93	27716010	09/23/2025	NYSE
Common	FBN Securities 120 Broadway New York NY 10271	153661	1402924.93	27716010	09/23/2025	NYSE
Common	Barclays Bank PLC One Churchill Place, Canary Wharf London X0 E14 5HP	153661	1402924.93	27716010	09/23/2025	NYSE
Common	BTIG, LLC 350 Bush Street San Francisco CA 94104	153661	1402924.93	27716010	09/23/2025	NYSE
Common	CIBC Capital Markets 1 Battery Pl #10 New York NY 10014	153661	1402924.93	27716010	09/23/2025	NYSE
Common	Goldman Sachs & Co 200 West Street New York NY 10282	153661	1402924.93	27716010	09/23/2025	NYSE
Common	Northern Trust Corporation 50 South La Salle Street Chicago IL 60603	153661	1402924.93	27716010	09/23/2025	NYSE
Common	Brown Brothers Harriman & Co. 140 Broadway New York NY 10005	153661	1402924.93	27716010	09/23/2025	NYSE
Common	TD Bank, N.A. 1701 Route 70 East Cherry Hill NJ 08003	153661	1402924.93	27716010	09/23/2025	NYSE
Common	The Bank of New York Mellon Corporation 240 Greenwich Street New York NY 10286	153661	1402924.93	27716010	09/23/2025	NYSE
Common	JP Morgan Chase Bank, N.A. 270 Park Avenue New York NY 10017	153661	1402924.93	27716010	09/23/2025	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			153661	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	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
Saba Capital Management, L.P. 405 Lexington Avenue, 58th Floor New York NY 10174	Common	09/22/2025	7841	71617.13

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 is the size of the planned Rule 144 sale by SABA?

The filing discloses a proposed sale of 153,661 common shares with an aggregate market value of $1,402,924.93 to occur on 09/23/2025.

How many shares has Saba sold in the past three months according to the filing?

The filing lists seven sales in September 2025 totaling 124,193 shares with detailed per-trade gross proceeds.

When and how were the shares being sold acquired?

The shares were acquired on 01/22/2018 through open-market purchases from various unaffiliated brokers and paid for in cash.

Through which brokers will the planned sales be executed?

Broker-dealers listed include Fidelity Capital Markets, Goldman Sachs, JP Morgan, Barclays, CIBC, BNY Mellon, Northern Trust, Brown Brothers Harriman, TD Bank, BTIG, and FBN Securities on the NYSE.

What representation does the filer make about material nonpublic information?

By signing the notice the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.