Funds / SABA
SABA Saba Capital Income & Opportunities Fund II
Saba Capital Management · pays monthly
Latest payout
$0.0580
paid Sep 30, 2026
Return of capital
0%
Sep 30 payout · estimated (19a-1)
Next ex-date
Oct 8, 2026
pays ~Oct 28 · projected dates
Distribution rate
8.73%
issuer’s annualized rate, Sep 30, 2026
Payouts per share
- Income (the berries)
- Return of capital (a cutting from the bush)
- Return of capital, estimated
What the past year did to your cost basis
Holding 100 shares of SABA through the last 13 payouts, you’d have collected $79.60. About $4.39 of it (6%) was return of capital: not taxed when paid, but it came off your cost basis, which raises the gain when you sell.
Uses the issuer’s final Form 8937 figures where filed and 19a-1 estimates otherwise. Gooseberry does this per lot, with your real purchase dates.
Upcoming dates
| Ex-date | Pay date | Per share | Status |
|---|---|---|---|
| Oct 8, 2026 | Oct 28, 2026 | — | Projected |
| Nov 9, 2026 | Nov 30, 2026 | — | Projected |
| Dec 8, 2026 | Dec 29, 2026 | — | Projected |
To be paid, you need to own shares before the ex-date. “Projected” dates are estimated from the fund’s usual schedule until the issuer announces them.
Payout history
| Paid | Per share | Return of capital |
|---|---|---|
| Sep 30, 2026 | $0.0580 | 0% estimated (19a-1) |
| Aug 31, 2026 | $0.0580 | 0% estimated (19a-1) |
| Jul 31, 2026 | $0.0580 | 0% estimated (19a-1) |
| Jun 30, 2026 | $0.0580 | 0% estimated (19a-1) |
| May 29, 2026 | $0.0580 | 0% estimated (19a-1) |
| Apr 30, 2026 | $0.0580 | 0% estimated (19a-1) |
| Mar 31, 2026 | $0.0580 | 0% estimated (19a-1) |
| Feb 27, 2026 | $0.0580 | 0% estimated (19a-1) |
| Jan 30, 2026 | $0.0580 | 0% estimated (19a-1) |
| Jan 16, 2026 | $0.1000 | 0% estimated (19a-1) |
| Dec 31, 2025 | $0.0580 | 0% estimated (19a-1) |
| Nov 28, 2025 | $0.0580 | 0% estimated (19a-1) |
| Oct 31, 2025 | $0.0580 | 76% estimated (19a-1) |
| Sep 30, 2025 | $0.0580 | 60% estimated (19a-1) |
| Aug 29, 2025 | $0.0580 | 64% estimated (19a-1) |
| Jul 31, 2025 | $0.0580 | 26% estimated (19a-1) |
| Jun 30, 2025 | $0.0580 | 71% estimated (19a-1) |
| May 30, 2025 | $0.0580 | 93% estimated (19a-1) |
| Apr 30, 2025 | $0.0580 | 16% estimated (19a-1) |
| Mar 31, 2025 | $0.0580 | 83% estimated (19a-1) |
| Feb 28, 2025 | $0.0580 | 49% estimated (19a-1) |
| Jan 31, 2025 | $0.0580 | 59% estimated (19a-1) |
| Dec 31, 2024 | $0.0580 | 56% estimated (19a-1) |
| Nov 29, 2024 | $0.0580 | 64% estimated (19a-1) |
Show 360 earlier payouts
| Oct 31, 2024 | $0.0580 | 89% estimated (19a-1) |
| Sep 30, 2024 | $0.0580 | 21% estimated (19a-1) |
| Aug 30, 2024 | $0.0580 | 33% estimated (19a-1) |
| Jul 31, 2024 | $0.0580 | 76% estimated (19a-1) |
| Jun 20, 2024 | $0.0580 | Not published |
| May 31, 2024 | $0.0580 | Not published |
| Apr 30, 2024 | $0.0580 | Not published |
| Mar 28, 2024 | $0.0580 | Not published |
| Feb 29, 2024 | $0.0580 | Not published |
| Jan 31, 2024 | $0.0580 | Not published |
| Dec 29, 2023 | $0.1974 | Not published |
| Nov 30, 2023 | $0.0560 | Not published |
| Oct 31, 2023 | $0.0582 | Not published |
| Sep 29, 2023 | $0.0596 | Not published |
| Aug 31, 2023 | $0.0620 | Not published |
| Jul 31, 2023 | $0.0612 | Not published |
| Jun 30, 2023 | $0.0610 | Not published |
| May 31, 2023 | $0.0620 | Not published |
| Apr 28, 2023 | $0.0608 | Not published |
| Mar 31, 2023 | $0.0624 | Not published |
| Feb 28, 2023 | $0.0640 | Not published |
| Jan 31, 2023 | $0.0616 | Not published |
| Dec 30, 2022 | $0.0592 | Not published |
| Nov 30, 2022 | $0.0576 | Not published |
| Oct 31, 2022 | $0.0604 | Not published |
| Sep 30, 2022 | $0.0636 | Not published |
| Aug 31, 2022 | $0.0622 | Not published |
| Jul 29, 2022 | $0.0654 | Not published |
| Jun 30, 2022 | $0.0704 | Not published |
| May 31, 2022 | $0.0708 | Not published |
| Apr 29, 2022 | $0.0724 | Not published |
| Mar 31, 2022 | $0.0724 | Not published |
| Feb 28, 2022 | $0.0684 | Not published |
| Jan 31, 2022 | $0.0690 | Not published |
| Dec 31, 2021 | $0.0698 | Not published |
| Nov 30, 2021 | $0.0710 | Not published |
| Oct 29, 2021 | $0.0712 | Not published |
| Sep 30, 2021 | $0.0720 | Not published |
| Aug 31, 2021 | $0.0738 | Not published |
| Jul 30, 2021 | $0.0740 | Not published |
| Jun 30, 2021 | $0.0736 | Not published |
| May 28, 2021 | $0.0736 | Not published |
| Apr 30, 2021 | $0.0754 | Not published |
| Mar 31, 2021 | $0.0320 | Not published |
| Feb 26, 2021 | $0.0532 | Not published |
| Jan 29, 2021 | $0.0644 | Not published |
| Dec 31, 2020 | $0.0340 | Not published |
| Nov 30, 2020 | $0.0294 | Not published |
| Oct 30, 2020 | $0.0312 | Not published |
| Sep 30, 2020 | $0.0290 | Not published |
| Aug 31, 2020 | $0.0304 | Not published |
| Jul 31, 2020 | $0.0310 | Not published |
| Jun 30, 2020 | $0.0266 | Not published |
| May 29, 2020 | $0.0258 | Not published |
| Apr 30, 2020 | $0.0304 | Not published |
| Mar 31, 2020 | $0.0554 | Not published |
| Feb 28, 2020 | $0.0588 | Not published |
| Jan 31, 2020 | $0.0576 | Not published |
| Dec 31, 2019 | $0.0828 | Not published |
| Nov 29, 2019 | $0.0490 | Not published |
| Oct 31, 2019 | $0.0520 | Not published |
| Sep 30, 2019 | $0.0552 | Not published |
| Aug 30, 2019 | $0.0640 | Not published |
| Jul 31, 2019 | $0.0716 | Not published |
| Jun 28, 2019 | $0.0700 | Not published |
| May 31, 2019 | $0.0708 | Not published |
| Apr 30, 2019 | $0.0672 | Not published |
| Mar 29, 2019 | $0.0820 | Not published |
| Feb 28, 2019 | $0.0802 | Not published |
| Jan 31, 2019 | $0.0742 | Not published |
| Dec 31, 2018 | $0.0756 | Not published |
| Nov 30, 2018 | $0.0620 | Not published |
| Oct 31, 2018 | $0.0574 | Not published |
| Sep 28, 2018 | $0.0710 | Not published |
| Aug 31, 2018 | $0.0650 | Not published |
| Jul 31, 2018 | $0.0618 | Not published |
| Jun 29, 2018 | $0.0686 | Not published |
| May 31, 2018 | $0.0652 | Not published |
| Apr 30, 2018 | $0.0672 | Not published |
| Mar 29, 2018 | $0.0348 | Not published |
| Feb 28, 2018 | $0.0360 | Not published |
| Jan 31, 2018 | $0.0356 | Not published |
| Dec 29, 2017 | $0.1518 | Not published |
| Nov 30, 2017 | $0.0266 | Not published |
| Oct 31, 2017 | $0.0288 | Not published |
| Sep 29, 2017 | $0.0284 | Not published |
| Aug 31, 2017 | $0.0418 | Not published |
| Jul 31, 2017 | $0.0440 | Not published |
| Jun 30, 2017 | $0.0410 | Not published |
| May 31, 2017 | $0.0434 | Not published |
| Apr 28, 2017 | $0.0336 | Not published |
| Mar 31, 2017 | $0.0358 | Not published |
| Feb 28, 2017 | $0.0334 | Not published |
| Jan 31, 2017 | $0.0646 | Not published |
| Dec 30, 2016 | $0.0500 | Not published |
| Nov 30, 2016 | $0.0500 | Not published |
| Oct 31, 2016 | $0.0500 | Not published |
| Sep 30, 2016 | $0.0500 | Not published |
| Aug 31, 2016 | $0.0500 | Not published |
| Jul 29, 2016 | $0.0500 | Not published |
| Jun 30, 2016 | $0.0500 | Not published |
| May 31, 2016 | $0.0500 | Not published |
| Apr 29, 2016 | $0.0500 | Not published |
| Mar 31, 2016 | $0.0500 | Not published |
| Feb 29, 2016 | $0.0500 | Not published |
| Jan 29, 2016 | $0.0500 | Not published |
| Dec 31, 2015 | $0.0500 | Not published |
| Nov 30, 2015 | $0.0500 | Not published |
| Oct 30, 2015 | $0.0500 | Not published |
| Sep 30, 2015 | $0.0500 | Not published |
| Aug 31, 2015 | $0.0500 | Not published |
| Jul 31, 2015 | $0.0500 | Not published |
| Jun 30, 2015 | $0.0500 | Not published |
| May 29, 2015 | $0.0500 | Not published |
| Apr 30, 2015 | $0.0500 | Not published |
| Mar 31, 2015 | $0.0500 | Not published |
| Feb 27, 2015 | $0.0500 | Not published |
| Jan 30, 2015 | $0.0500 | Not published |
| Dec 31, 2014 | $0.7232 | Not published |
| Nov 28, 2014 | $0.0500 | Not published |
| Oct 31, 2014 | $0.0500 | Not published |
| Sep 30, 2014 | $0.0500 | Not published |
| Aug 29, 2014 | $0.0500 | Not published |
| Jul 31, 2014 | $0.0500 | Not published |
| Jun 30, 2014 | $0.0500 | Not published |
| May 30, 2014 | $0.0500 | Not published |
| Apr 30, 2014 | $0.0500 | Not published |
| Mar 31, 2014 | $0.0700 | Not published |
| Feb 28, 2014 | $0.0700 | Not published |
| Jan 31, 2014 | $0.0700 | Not published |
| Dec 31, 2013 | $0.5698 | Not published |
| Nov 29, 2013 | $0.0700 | Not published |
| Oct 31, 2013 | $0.0700 | Not published |
| Sep 30, 2013 | $0.0700 | Not published |
| Aug 30, 2013 | $0.0700 | Not published |
| Jul 31, 2013 | $0.0700 | Not published |
| Jun 28, 2013 | $0.0700 | Not published |
| May 31, 2013 | $0.0700 | Not published |
| Apr 30, 2013 | $0.0700 | Not published |
| Mar 28, 2013 | $0.0700 | Not published |
| Feb 28, 2013 | $0.0700 | Not published |
| Jan 31, 2013 | $0.0700 | Not published |
| Dec 31, 2012 | $1.2544 | Not published |
| Nov 30, 2012 | $0.0700 | Not published |
| Oct 31, 2012 | $0.0700 | Not published |
| Sep 28, 2012 | $0.0700 | Not published |
| Aug 31, 2012 | $0.0900 | Not published |
| Jul 31, 2012 | $0.0900 | Not published |
| Jun 29, 2012 | $0.0900 | Not published |
| May 31, 2012 | $0.0900 | Not published |
| Apr 30, 2012 | $0.0900 | Not published |
| Mar 30, 2012 | $0.0900 | Not published |
| Feb 29, 2012 | $0.0900 | Not published |
| Jan 31, 2012 | $0.0900 | Not published |
| Dec 30, 2011 | $1.3314 | Not published |
| Nov 30, 2011 | $0.0900 | Not published |
| Oct 31, 2011 | $0.0900 | Not published |
| Sep 30, 2011 | $0.0900 | Not published |
| Aug 31, 2011 | $0.0900 | Not published |
| Jul 29, 2011 | $0.0900 | Not published |
| Jun 30, 2011 | $0.0900 | Not published |
| May 31, 2011 | $0.0900 | Not published |
| Apr 29, 2011 | $0.0900 | Not published |
| Mar 31, 2011 | $0.0900 | Not published |
| Feb 28, 2011 | $0.0900 | Not published |
| Jan 31, 2011 | $0.0900 | Not published |
| Dec 31, 2010 | $0.9360 | Not published |
| Nov 30, 2010 | $0.0900 | Not published |
| Oct 29, 2010 | $0.0900 | Not published |
| Sep 30, 2010 | $0.0900 | Not published |
| Aug 31, 2010 | $0.0900 | Not published |
| Jul 30, 2010 | $0.0900 | Not published |
| Jun 30, 2010 | $0.0900 | Not published |
| May 28, 2010 | $0.0900 | Not published |
| Apr 30, 2010 | $0.0840 | Not published |
| Mar 31, 2010 | $0.0840 | Not published |
| Feb 26, 2010 | $0.0840 | Not published |
| Jan 29, 2010 | $0.0840 | Not published |
| Dec 31, 2009 | $0.0840 | Not published |
| Nov 30, 2009 | $0.0840 | Not published |
| Oct 30, 2009 | $0.0840 | Not published |
| Sep 30, 2009 | $0.0840 | Not published |
| Aug 31, 2009 | $0.0840 | Not published |
| Jul 31, 2009 | $0.0840 | Not published |
| Jun 30, 2009 | $0.0840 | Not published |
| May 29, 2009 | $0.0840 | Not published |
| Apr 30, 2009 | $0.0840 | Not published |
| Mar 31, 2009 | $0.0840 | Not published |
| Feb 27, 2009 | $0.0840 | Not published |
| Jan 30, 2009 | $0.0840 | Not published |
| Dec 31, 2008 | $1.7614 | Not published |
| Nov 28, 2008 | $0.0840 | Not published |
| Oct 31, 2008 | $0.0840 | Not published |
| Sep 30, 2008 | $0.0840 | Not published |
| Aug 29, 2008 | $0.0840 | Not published |
| Jul 31, 2008 | $0.0840 | Not published |
| Jun 30, 2008 | $0.0840 | Not published |
| May 30, 2008 | $0.0840 | Not published |
| Apr 30, 2008 | $0.0840 | Not published |
| Mar 31, 2008 | $0.0840 | Not published |
| Feb 29, 2008 | $0.0840 | Not published |
| Jan 31, 2008 | $0.0840 | Not published |
| Dec 31, 2007 | $1.2176 | Not published |
| Nov 30, 2007 | $0.0840 | Not published |
| Oct 31, 2007 | $0.0840 | Not published |
| Sep 28, 2007 | $0.0840 | Not published |
| Aug 31, 2007 | $0.0840 | Not published |
| Jul 31, 2007 | $0.0840 | Not published |
| Jun 29, 2007 | $0.0840 | Not published |
| May 31, 2007 | $0.0840 | Not published |
| Apr 30, 2007 | $0.0840 | Not published |
| Mar 30, 2007 | $0.0840 | Not published |
| Feb 28, 2007 | $0.0840 | Not published |
| Jan 31, 2007 | $0.0840 | Not published |
| Dec 29, 2006 | $0.8732 | Not published |
| Nov 30, 2006 | $0.0840 | Not published |
| Oct 31, 2006 | $0.0840 | Not published |
| Sep 29, 2006 | $0.0840 | Not published |
| Aug 31, 2006 | $0.0840 | Not published |
| Jul 31, 2006 | $0.0840 | Not published |
| Jun 30, 2006 | $0.0840 | Not published |
| May 31, 2006 | $0.0800 | Not published |
| Apr 28, 2006 | $0.0800 | Not published |
| Mar 31, 2006 | $0.0800 | Not published |
| Feb 28, 2006 | $0.0800 | Not published |
| Jan 31, 2006 | $0.0800 | Not published |
| Dec 30, 2005 | $0.6960 | Not published |
| Nov 30, 2005 | $0.0800 | Not published |
| Oct 31, 2005 | $0.0800 | Not published |
| Sep 30, 2005 | $0.0800 | Not published |
| Aug 31, 2005 | $0.0800 | Not published |
| Jul 29, 2005 | $0.0800 | Not published |
| Jun 30, 2005 | $0.0800 | Not published |
| May 31, 2005 | $0.0800 | Not published |
| Apr 29, 2005 | $0.0800 | Not published |
| Mar 31, 2005 | $0.0800 | Not published |
| Feb 28, 2005 | $0.0800 | Not published |
| Jan 31, 2005 | $0.0800 | Not published |
| Dec 31, 2004 | $0.3704 | Not published |
| Nov 30, 2004 | $0.0800 | Not published |
| Oct 29, 2004 | $0.0800 | Not published |
| Sep 30, 2004 | $0.0800 | Not published |
| Aug 31, 2004 | $0.0800 | Not published |
| Jul 30, 2004 | $0.0800 | Not published |
| Jun 30, 2004 | $0.0800 | Not published |
| May 28, 2004 | $0.0800 | Not published |
| Apr 30, 2004 | $0.0800 | Not published |
| Mar 31, 2004 | $0.0800 | Not published |
| Feb 27, 2004 | $0.0800 | Not published |
| Jan 30, 2004 | $0.0800 | Not published |
| Dec 31, 2003 | $0.2072 | Not published |
| Nov 28, 2003 | $0.0800 | Not published |
| Oct 31, 2003 | $0.0800 | Not published |
| Sep 30, 2003 | $0.0800 | Not published |
| Aug 29, 2003 | $0.0800 | Not published |
| Jul 31, 2003 | $0.0800 | Not published |
| Jun 30, 2003 | $0.0800 | Not published |
| May 30, 2003 | $0.0800 | Not published |
| Apr 30, 2003 | $0.0800 | Not published |
| Mar 31, 2003 | $0.0800 | Not published |
| Feb 28, 2003 | $0.0800 | Not published |
| Jan 31, 2003 | $0.0800 | Not published |
| Dec 31, 2002 | $0.0900 | Not published |
| Nov 29, 2002 | $0.0900 | Not published |
| Oct 31, 2002 | $0.0900 | Not published |
| Sep 30, 2002 | $0.0900 | Not published |
| Aug 30, 2002 | $0.0900 | Not published |
| Jul 31, 2002 | $0.0900 | Not published |
| Jun 28, 2002 | $0.0900 | Not published |
| May 31, 2002 | $0.0900 | Not published |
| Apr 30, 2002 | $0.0900 | Not published |
| Mar 28, 2002 | $0.0900 | Not published |
| Feb 28, 2002 | $0.0900 | Not published |
| Jan 31, 2002 | $0.0900 | Not published |
| Dec 31, 2001 | $0.0900 | Not published |
| Nov 30, 2001 | $0.0900 | Not published |
| Oct 31, 2001 | $0.0900 | Not published |
| Sep 28, 2001 | $0.0900 | Not published |
| Aug 31, 2001 | $0.0900 | Not published |
| Jul 31, 2001 | $0.0900 | Not published |
| Jun 29, 2001 | $0.0900 | Not published |
| May 31, 2001 | $0.0900 | Not published |
| Apr 30, 2001 | $0.0900 | Not published |
| Mar 30, 2001 | $0.0900 | Not published |
| Feb 28, 2001 | $0.0900 | Not published |
| Jan 31, 2001 | $0.0900 | Not published |
| Dec 29, 2000 | $0.0900 | Not published |
| Nov 30, 2000 | $0.0900 | Not published |
| Oct 31, 2000 | $0.1000 | Not published |
| Sep 29, 2000 | $0.1000 | Not published |
| Aug 31, 2000 | $0.1000 | Not published |
| Jul 31, 2000 | $0.1000 | Not published |
| Jun 30, 2000 | $0.1000 | Not published |
| May 31, 2000 | $0.1000 | Not published |
| Apr 28, 2000 | $0.1000 | Not published |
| Mar 31, 2000 | $0.1000 | Not published |
| Feb 29, 2000 | $0.1000 | Not published |
| Jan 31, 2000 | $0.1000 | Not published |
| Dec 31, 1999 | $0.1000 | Not published |
| Nov 30, 1999 | $0.1000 | Not published |
| Oct 29, 1999 | $0.1000 | Not published |
| Sep 30, 1999 | $0.1000 | Not published |
| Aug 31, 1999 | $0.1000 | Not published |
| Jul 30, 1999 | $0.1000 | Not published |
| Jun 30, 1999 | $0.1000 | Not published |
| May 28, 1999 | $0.1000 | Not published |
| Apr 30, 1999 | $0.1000 | Not published |
| Mar 31, 1999 | $0.1000 | Not published |
| Feb 26, 1999 | $0.1000 | Not published |
| Jan 29, 1999 | $0.1000 | Not published |
| Dec 31, 1998 | $0.1100 | Not published |
| Nov 30, 1998 | $0.1000 | Not published |
| Oct 30, 1998 | $0.1000 | Not published |
| Sep 30, 1998 | $0.1000 | Not published |
| Aug 31, 1998 | $0.1000 | Not published |
| Jul 31, 1998 | $0.1000 | Not published |
| Jun 30, 1998 | $0.1000 | Not published |
| May 29, 1998 | $0.1000 | Not published |
| Apr 30, 1998 | $0.1000 | Not published |
| Mar 31, 1998 | $0.1000 | Not published |
| Feb 27, 1998 | $0.1000 | Not published |
| Jan 30, 1998 | $0.1000 | Not published |
| Dec 31, 1997 | $0.1000 | Not published |
| Nov 28, 1997 | $0.1000 | Not published |
| Oct 31, 1997 | $0.1000 | Not published |
| Sep 30, 1997 | $0.1000 | Not published |
| Aug 29, 1997 | $0.1000 | Not published |
| Jul 31, 1997 | $0.1000 | Not published |
| Jun 30, 1997 | $0.1000 | Not published |
| May 30, 1997 | $0.1000 | Not published |
| Apr 30, 1997 | $0.1000 | Not published |
| Mar 31, 1997 | $0.1000 | Not published |
| Feb 28, 1997 | $0.1000 | Not published |
| Jan 31, 1997 | $0.1000 | Not published |
| Dec 31, 1996 | $0.1000 | Not published |
| Nov 29, 1996 | $0.1000 | Not published |
| Oct 31, 1996 | $0.1000 | Not published |
| Sep 30, 1996 | $0.1000 | Not published |
| Aug 30, 1996 | $0.1000 | Not published |
| Jul 31, 1996 | $0.1000 | Not published |
| Jun 28, 1996 | $0.1000 | Not published |
| May 31, 1996 | $0.1000 | Not published |
| Apr 30, 1996 | $0.1000 | Not published |
| Mar 29, 1996 | $0.1000 | Not published |
| Feb 29, 1996 | $0.1000 | Not published |
| Jan 31, 1996 | $0.1000 | Not published |
| Dec 29, 1995 | $0.1000 | Not published |
| Nov 30, 1995 | $0.1000 | Not published |
| Oct 31, 1995 | $0.1000 | Not published |
| Sep 29, 1995 | $0.1000 | Not published |
| Aug 31, 1995 | $0.1000 | Not published |
| Jul 31, 1995 | $0.1000 | Not published |
| Jun 30, 1995 | $0.1000 | Not published |
| May 31, 1995 | $0.1000 | Not published |
| Apr 28, 1995 | $0.1000 | Not published |
| Mar 31, 1995 | $0.1000 | Not published |
| Feb 28, 1995 | $0.1000 | Not published |
| Jan 31, 1995 | $0.1000 | Not published |
| Jan 12, 1995 | $0.0700 | Not published |
| May 10, 1994 | $0.1000 | Not published |
Fund facts
- Issuer
- Saba Capital Management
- Exchange
- NYSE
- Pays
- Monthly
- Inception
- Mar 17, 1988
- Net assets
- $251M
- Price
- $7.97 · Sep 30, 2026
- CUSIP
- 880198205
Issuer documents
Latest 19a-1 notices
- Sep 30, 2026 payout
- Aug 31, 2026 payout
- Jul 31, 2026 payout
- Jun 30, 2026 payout
- May 29, 2026 payout
- Apr 30, 2026 payout
Form 8937 (final return of capital)
Data from Saba Capital Management’s public disclosures, updated Oct 1, 2026, 11:28 AM ET. Not investment or tax advice.