Saba Capital Amends Stake in Adams Natural Resources Fund
Ticker: PEO · Form: SC 13D/A · Filed: Apr 10, 2024 · CIK: 216851
| Field | Detail |
|---|---|
| Company | Adams Natural Resources Fund, Inc. (PEO) |
| Form Type | SC 13D/A |
| Filed Date | Apr 10, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $44,321,671 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, filing-amendment, schedule-13d
TL;DR
Saba Capital just updated its filing for Adams Natural Resources Fund - watch this space.
AI Summary
Saba Capital Management, L.P. has amended its Schedule 13D filing regarding Adams Natural Resources Fund, Inc. as of April 10, 2024. The filing indicates a change in beneficial ownership, with Saba Capital Management now holding a significant stake in the company. Specific details on the exact percentage or number of shares acquired in this amendment are not immediately clear from the provided text, but it signifies an active interest from Saba Capital.
Why It Matters
This filing signals increased activist investor interest in Adams Natural Resources Fund, potentially leading to changes in corporate strategy or governance.
Risk Assessment
Risk Level: medium — Amendments to Schedule 13D filings often indicate a shift in an investor's position or strategy, which can introduce volatility.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filing entity and investor
- Adams Natural Resources Fund, Inc. (company) — Subject company
- Boaz R. Weinstein (person) — Group member of Saba Capital Management
FAQ
What is the specific change in beneficial ownership reported in this amendment?
The provided text is an excerpt and does not specify the exact change in beneficial ownership or the new percentage held by Saba Capital Management, L.P. in Adams Natural Resources Fund, Inc.
When was the previous filing made by Saba Capital Management regarding Adams Natural Resources Fund?
The filing is an amendment (Amendment No. 3) to a Schedule 13D, indicating prior filings were made, but the exact date of the previous filing is not present in this excerpt.
What is the CUSIP number for Adams Natural Resources Fund, Inc. common shares?
The CUSIP number for Adams Natural Resources Fund, Inc. common shares is 00548F105.
What is the business address of Saba Capital Management, L.P.?
The business address of Saba Capital Management, L.P. is 405 Lexington Avenue, 58th Floor, New York, NY 10174.
What is the state of incorporation for Adams Natural Resources Fund, Inc.?
Adams Natural Resources Fund, Inc. is incorporated in Maryland (MD).
Filing Stats: 1,357 words · 5 min read · ~5 pages · Grade level 10.7 · Accepted 2024-04-10 07:54:14
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $44,321,671 — ported herein. A total of approximately $44,321,671 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 64KB
- 0001062993-24-008222.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: April 10, 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. 00548F105 SCHEDULE 13D/A Page 7 of 7 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital in the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 2/12/2024 Buy 5,441 20.98 2/15/2024 Buy 6,893 21.15 2/21/2024 Buy 2,686 21.22 2/22/2024 Buy 1,660 21.23 2/23/2024 Buy 530 21.21 3/1/2024 Buy 7,631 21.49 3/4/2024 Buy 12,128 21.41 3/5/2024 Buy 14,210 21.52 3/6/2024 Buy 6,833 21.75 3/8/2024 Buy 12,483 21.81 3/11/2024 Buy 7,487 21.90 3/12/2024 Buy 1,530 22.06 3/13/2024 Buy 9,238 22.44 3/14/2024 Buy 3,270 22.53 4/3/2024 Buy 1,172 23.60 4/5/2024 Buy 7,415 23.96 4/8/2024 Buy 27,509 24.01