Saba Capital Management Amends 13D Filing for Adams Natural Resources Fund
Ticker: PEO · Form: SC 13D/A · Filed: May 28, 2024 · CIK: 216851
| Field | Detail |
|---|---|
| Company | Adams Natural Resources Fund, Inc. (PEO) |
| Form Type | SC 13D/A |
| Filed Date | May 28, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 6 min |
| Key Dollar Amounts | $0.001, $50,483,090 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, ownership-change, sec-filing
TL;DR
SABA CAPITAL AMENDS 13D ON ADAMS NATURAL RESOURCES FUND - OWNERSHIP CHANGE LIKELY.
AI Summary
Saba Capital Management, L.P. has amended its Schedule 13D filing regarding Adams Natural Resources Fund, Inc. The amendment, filed on May 28, 2024, indicates a change in the beneficial ownership of the fund's common shares. Saba Capital Management, L.P. is the filer, and the filing concerns Adams Natural Resources Fund, Inc.
Why It Matters
This filing update from Saba Capital Management signals potential shifts in the investment strategy or stake held in Adams Natural Resources Fund, which could influence the fund's future performance and shareholder value.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate significant investor activity, which can lead to volatility or strategic changes in the target company.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
- Adams Natural Resources Fund, Inc. (company) — Subject company of the filing
- Boaz R. Weinstein (person) — Group member associated with Saba Capital Management
FAQ
What is the specific change in beneficial ownership reported in this amendment?
The filing is an amendment (No. 4) to Schedule 13D, indicating a change in beneficial ownership, but the exact percentage or number of shares is not detailed in the provided text snippet.
When was this amendment filed with the SEC?
This amendment was filed on May 28, 2024.
Who is the subject company of this filing?
The subject company is Adams Natural Resources Fund, Inc.
Who is the entity filing this Schedule 13D/A?
The entity filing is Saba Capital Management, L.P.
What is the CUSIP number for the common shares of Adams Natural Resources Fund, Inc.?
The CUSIP number for the common shares is 00548F105.
Filing Stats: 1,396 words · 6 min read · ~5 pages · Grade level 9.9 · Accepted 2024-05-28 09:11:37
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $50,483,090 — ported herein. A total of approximately $50,483,090 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 69KB
- 0001062993-24-011310.txt ( ) — 71KB
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: May 28, 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 since the filing of the Schedule 13D/A on 4/10/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 4/10/2024 Buy 7,284 24.01 4/12/2024 Buy 14,781 23.99 4/15/2024 Buy 7,730 23.66 4/17/2024 Buy 14,069 23.33 4/18/2024 Buy 22,012 23.23 4/19/2024 Buy 8,556 23.35 4/22/2024 Buy 9,903 23.46 4/23/2024 Buy 9,037 23.62 4/26/2024 Buy 9,551 23.45 4/29/2024 Buy 2,833 23.56 4/30/2024 Buy 12,510 23.55 5/2/2024 Buy 21,847 23.07 5/3/2024 Buy 8,172 23.07 5/7/2024 Buy 11,548 23.34 5/8/2024 Buy 15,413 23.36 5/9/2024 Buy 27,303 23.57 5/10/2024 Buy 11,367 23.65 5/15/2024 Buy 4,786 23.51 5/16/2024 Buy 8,471 23.43 5/17/2024 Buy 5,172 23.61 5/20/2024 Buy 3,786 23.72 5/22/2024 Buy 12,110 23.30 5/23/2024 Buy 7,893 23.21 5/24/2024 Buy 6,723 23.15