Saba Capital Amends Nuveen Core Plus Impact Fund Stake
Ticker: NPCT · Form: SC 13D/A · Filed: Jan 18, 2024 · CIK: 1835068
| Field | Detail |
|---|---|
| Company | Nuveen Core Plus Impact Fund (NPCT) |
| Form Type | SC 13D/A |
| Filed Date | Jan 18, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.01, $34,941,404 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: activist-investing, amendment, institutional-ownership
TL;DR
**Saba Capital just updated its activist filing on Nuveen Core Plus Impact Fund, signaling potential changes ahead.**
AI Summary
Saba Capital Management, L.P. filed an amended Schedule 13D/A on January 18, 2024, updating its previous filing regarding its stake in Nuveen Core Plus Impact Fund. This amendment, specifically Amendment No. 2, indicates a change in the information previously disclosed, likely related to their ownership or intentions. For shareholders, this matters because Saba Capital Management is an activist investor, and any changes in their position or stated intentions could signal potential future actions that might influence the fund's management or share price.
Why It Matters
This filing signals an update to Saba Capital Management's position or intentions regarding Nuveen Core Plus Impact Fund, which could precede activist actions or changes in their investment strategy, potentially impacting the fund's governance or market value.
Risk Assessment
Risk Level: medium — The filing itself is an update, but Saba Capital's history as an activist investor introduces medium risk due to potential future actions that could create volatility.
Analyst Insight
Investors should monitor future filings from Saba Capital Management, L.P. for Nuveen Core Plus Impact Fund to understand the nature of their updated position and potential activist strategies, as this could influence the fund's performance.
Key Players & Entities
- Saba Capital Management, L.P. (company) — the entity filing the SC 13D/A amendment
- Nuveen Core Plus Impact Fund (company) — the subject company of the SC 13D/A filing
- BOAZ R. WEINSTEIN (person) — listed as a group member
- SABA CAPITAL MANAGEMENT GP, LLC (company) — listed as a group member
- Michael D'Angelo (person) — contact person for Saba Capital Management, L.P.
- $0.01 (dollar_amount) — par value of Common Shares of Nuveen Core Plus Impact Fund
Forward-Looking Statements
- Saba Capital Management, L.P. will likely disclose further details about their updated position or intentions in subsequent filings. (Saba Capital Management, L.P.) — high confidence, target: Q1 2024
FAQ
What is the purpose of this specific filing?
This filing is an Amendment No. 2 to a Schedule 13D, indicating an update to previously disclosed information by Saba Capital Management, L.P. regarding its beneficial ownership and intentions concerning Nuveen Core Plus Impact Fund.
Who is the filer of this SC 13D/A?
The filer of this SC 13D/A is Saba Capital Management, L.P., located at 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the subject company of this filing?
The subject company is Nuveen Core Plus Impact Fund, formerly known as Nuveen Impact Opportunities Fund, with its business address at 333 West Wacker Dr., Chicago, IL 60606.
What is the CUSIP number for the securities involved?
The CUSIP number for the Common Shares, $0.01 par value, of Nuveen Core Plus Impact Fund is 67080D103.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was January 16, 2024.
Filing Stats: 1,577 words · 6 min read · ~5 pages · Grade level 13.6 · Accepted 2024-01-18 12:13:40
Key Financial Figures
- $0.01 — Fund (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
- $34,941,404 — ported herein. A total of approximately $34,941,404 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 55KB
- exhibit4.htm (EX-4) — 13KB
- 0001062993-24-001007.txt ( ) — 69KB
is hereby amended and supplemented by the addition of the following
Item 6 is hereby amended and supplemented by the addition of the following: The Reporting Persons' response to Item 4 is incorporated by reference into this Item 6. Item 7. MATERIAL TO BE FILED AS EXHIBITS Exhibit 4: Form of Nominee Agreement CUSIP No. 67080D103 SCHEDULE 13D/A Page 7 of 8 Pages
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: January 18, 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. 67080D103 SCHEDULE 13D/A Page 8 of 8 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital since the filing of the Schedule 13D/A on 12/5/23. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 12/18/2023 Buy 25,106 10.11