Saba Capital Management Amends Filing for Adams Natural Resources Fund
Ticker: PEO · Form: SC 13D/A · Filed: Jun 21, 2024 · CIK: 216851
| Field | Detail |
|---|---|
| Company | Adams Natural Resources Fund, Inc. (PEO) |
| Form Type | SC 13D/A |
| Filed Date | Jun 21, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $56,526,346 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, filing-amendment, ownership-change
Related Tickers: ADX
TL;DR
Saba Capital updated its 13D filing for ADAMS NATURAL RESOURCES FUND, INC. on 6/21/24.
AI Summary
Saba Capital Management, L.P. has filed an amendment (Amendment No. 5) to its Schedule 13D regarding Adams Natural Resources Fund, Inc. The filing, dated June 21, 2024, indicates a change in the reporting of beneficial ownership. Saba Capital Management, L.P. is the filer, with Boaz R. Weinstein listed as a group member.
Why It Matters
This amendment signals a potential shift in the ownership structure or strategy concerning Adams Natural Resources Fund, Inc., which could impact its stock performance and corporate governance.
Risk Assessment
Risk Level: medium — Schedule 13D filings often indicate activist investor activity, which can lead to increased volatility and uncertainty for the subject company.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D/A
- Adams Natural Resources Fund, Inc. (company) — Subject company
- Boaz R. Weinstein (person) — Group member associated with the filer
FAQ
What specific changes are detailed in Amendment No. 5 to the Schedule 13D?
The filing does not detail the specific changes in Amendment No. 5, only that it is an amendment to the Schedule 13D.
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.
When was this Schedule 13D/A filing made?
The filing was made on June 21, 2024.
Who is listed as a group member in this filing?
Boaz R. Weinstein and Saba Capital Management GP, LLC are listed as group members.
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.
Filing Stats: 1,365 words · 5 min read · ~5 pages · Grade level 10.8 · Accepted 2024-06-21 10:44:14
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $56,526,346 — ported herein. A total of approximately $56,526,346 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 69KB
- 0001062993-24-012861.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: June 21, 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 5/28/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 5/28/2024 Buy 7,507 23.23 5/29/2024 Buy 8,624 23.08 5/30/2024 Buy 5,720 23.16 5/31/2024 Buy 24,734 23.39 6/3/2024 Buy 14,875 23.51 6/4/2024 Buy 6,988 22.89 6/5/2024 Buy 16,252 22.94 6/6/2024 Buy 5,700 23.08 6/7/2024 Buy 15,769 23.19 6/11/2024 Buy 23,760 23.05 6/12/2024 Buy 48,743 23.12 6/13/2024 Buy 14,526 22.88 6/14/2024 Buy 18,639 22.74 6/17/2024 Buy 30,234 22.79 6/18/2024 Buy 20,043 22.92