Saba Capital Management Amends 13D Filing for Adams Diversified Equity Fund
Ticker: ADX · Form: SC 13D/A · Filed: Nov 25, 2024 · CIK: 2230
| Field | Detail |
|---|---|
| Company | Adams Diversified Equity Fund, Inc. (ADX) |
| Form Type | SC 13D/A |
| Filed Date | Nov 25, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $88,581,983 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, sec-filing, amendment
Related Tickers: ADK
TL;DR
Saba Capital updated its 13D filing for Adams Diversified Equity Fund. Watch for potential activist moves.
AI Summary
Saba Capital Management, L.P. has filed an amendment (No. 6) to its Schedule 13D/A regarding Adams Diversified Equity Fund, Inc. The filing, dated November 25, 2024, indicates changes in beneficial ownership. Saba Capital Management, L.P. is listed as the filer, with Boaz R. Weinstein and Saba Capital Management GP, LLC as group members.
Why It Matters
This filing signals potential shifts in significant shareholding and strategic interests in Adams Diversified Equity Fund, Inc., which could influence the fund's future direction or market perception.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate activist investor intentions, which can lead to increased volatility and strategic changes for the target company.
Key Numbers
- 6 — Amendment Number (Indicates this is the sixth amendment to the original filing.)
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
- Adams Diversified Equity Fund, Inc. (company) — Subject company of the filing
- Boaz R. Weinstein (person) — Group member associated with the filing
- Saba Capital Management GP, LLC (company) — Group member associated with the filing
FAQ
What specific changes in beneficial ownership are detailed in this Amendment No. 6?
The provided text does not specify the exact changes in beneficial ownership, only that an amendment has been filed.
What is the primary purpose of a Schedule 13D/A filing?
A Schedule 13D/A filing is used by investors who acquire more than 5% of a company's stock to report their holdings and intentions to the SEC.
Who are the key entities involved in this filing?
The key entities are Saba Capital Management, L.P. (the filer), Adams Diversified Equity Fund, Inc. (the subject company), and group members Boaz R. Weinstein and Saba Capital Management GP, LLC.
When was this amendment filed with the SEC?
This amendment was filed on November 25, 2024.
What is the CUSIP number for Adams Diversified Equity Fund, Inc. common shares?
The CUSIP number for Adams Diversified Equity Fund, Inc. common shares is 006212104.
Filing Stats: 1,320 words · 5 min read · ~4 pages · Grade level 10.6 · Accepted 2024-11-25 16:03:13
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $88,581,983 — ported herein. A total of approximately $88,581,983 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 64KB
- 0001062993-24-019636.txt ( ) — 66KB
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: November 25, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823 CUSIP No. 006212104 SCHEDULE 13D/A Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital within the past sixty days prior to November 21, 2024. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 9/24/2024 Buy 9,591 21.33 9/26/2024 Buy 58,375 21.40 9/27/2024 Buy 53,713 21.42 11/7/2024 Sell 30,712 22.52 11/12/2024 Sell 9,997 22.45 11/15/2024 Sell 46,378 22.05 11/18/2024 Sell 65,538 22.41 11/19/2024 Sell 167,118 22.54 11/20/2024 Sell 195,379 22.32 11/21/2024 Sell 359,901 22.41