Saba Capital Amends Ellsworth Growth & Income Fund Stake

TL;DR

**Saba Capital just updated its stake in Ellsworth Growth & Income Fund, keep an eye on potential activist moves.**

AI Summary

Saba Capital Management, L.P. filed an amended SC 13G/A on January 29, 2024, indicating their ownership of Common Stock in Ellsworth Growth & Income Fund Ltd. This filing, an amendment number 2, updates their previous disclosures regarding their stake in the fund as of December 31, 2023. This matters to investors because Saba Capital Management is an activist investor known for taking significant stakes in closed-end funds and often pushing for changes, which could impact the fund's strategy or share price.

Why It Matters

Saba Capital Management, a prominent activist investor, has updated its ownership disclosure in Ellsworth Growth & Income Fund Ltd., signaling continued interest and potential influence over the fund's future direction.

Risk Assessment

Risk Level: medium — The involvement of an activist investor like Saba Capital can lead to significant changes, creating both opportunities and risks for existing shareholders.

Analyst Insight

Investors should monitor future filings from Saba Capital Management, L.P. regarding Ellsworth Growth & Income Fund Ltd. for any changes in ownership percentage or the filing of a Schedule 13D, which would signal a more active role and potential strategic shifts for the fund.

Key Numbers

• 289074106 — CUSIP Number (identifies the Common Stock of Ellsworth Growth & Income Fund Ltd.)
• 0001062993-24-001477 — Accession Number (unique identifier for this specific SEC filing)
• 005-83822 — SEC File Number (identifies Ellsworth Growth & Income Fund Ltd.'s registration with the SEC)

Key Players & Entities

• Saba Capital Management, L.P. (company) — the reporting person filing the SC 13G/A
• ELLSWORTH GROWTH & INCOME FUND LTD (company) — the subject company whose securities are being reported
• BOAZ R. WEINSTEIN (person) — a group member associated with the filing
• SABA CAPITAL MANAGEMENT GP, LLC (company) — a group member associated with the filing
• December 31, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Saba Capital Management, L.P. will continue to hold a significant stake in Ellsworth Growth & Income Fund Ltd. (Saba Capital Management, L.P.) — high confidence, target: Q2 2024
• Saba Capital Management, L.P. may engage in further activist actions or communications regarding Ellsworth Growth & Income Fund Ltd.'s management or strategy. (Saba Capital Management, L.P.) — medium confidence, target: Q3 2024

FAQ

Key Financial Figures

• $0.01 — D LTD (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti

Filing Documents

• formsc13ga.htm (SC 13G/A) — 47KB
• 0001062993-24-001477.txt ( ) — 49KB

Ownership

Item 4. Ownership (a) Amount Beneficially Owned: The information required by Items 4(a) - (c) is set forth in Rows (5) - (11) of the cover page for each Reporting Person hereto and is incorporated herein by reference for each such Reporting Person.

Ownership of Five Percent or Less of a Class. X

Item 5. Ownership of Five Percent or Less of a Class. X

Ownership of more than Five Percent on Behalf of Another Person. N/A

Item 6. Ownership of more than Five Percent on Behalf of Another Person. N/A Item 7. Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. N/A

Identification and classification of members of the group. N/A

Item 8. Identification and classification of members of the group. N/A

Notice of Dissolution of Group. N/A

Item 9. Notice of Dissolution of Group. N/A

Certifications

Item 10. Certifications. By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 6 of 7 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: January 29, 2024 /s/ Signature Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer Boaz R. Weinstein By: Michael D'Angelo Title: Attorney-in-fact*** *** Pursuant to a Power of Attorney dated as of November 16, 2015 Page 7 of 7

View Full Filing

View this SC 13G/A filing on SEC EDGAR