Saba Capital Management Amends 13D Filing for Adams Natural Resources Fund
Ticker: PEO · Form: SC 13D/A · Filed: Sep 12, 2024 · CIK: 216851
| Field | Detail |
|---|---|
| Company | Adams Natural Resources Fund, Inc. (PEO) |
| Form Type | SC 13D/A |
| Filed Date | Sep 12, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.001, $62,321,950 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-investor, sec-filing, amendment
TL;DR
Saba Capital updated its 13D filing for Adams Natural Resources Fund. Watch for potential activist moves.
AI Summary
Saba Capital Management, L.P. has filed an amendment (Amendment No. 6) to its Schedule 13D on September 12, 2024, regarding Adams Natural Resources Fund, Inc. The filing indicates a change in the beneficial ownership of the common shares of the issuer. Saba Capital Management, L.P. is listed as the filer, with Boaz R. Weinstein and Saba Capital Management GP, LLC as group members.
Why It Matters
This amendment signals potential shifts in the control or influence Saba Capital Management may exert over Adams Natural Resources Fund, Inc., which could impact the fund's strategy or shareholder value.
Risk Assessment
Risk Level: medium — Schedule 13D filings, especially amendments, often indicate activist investor activity which can lead to increased volatility.
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 of the filer
- Saba Capital Management GP, LLC (company) — Group member of the filer
FAQ
What is the specific change in beneficial ownership reported in this amendment?
The filing is an amendment (No. 6) to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change are not provided in the header information.
When was this Schedule 13D/A filing submitted?
The filing was submitted on September 12, 2024.
Who is the subject company of this filing?
The subject company is Adams Natural Resources Fund, Inc.
Who is the primary filer of this Schedule 13D/A?
Saba Capital Management, L.P. is the primary filer.
What is the CUSIP number for the securities in question?
The CUSIP number for the Common Shares of Adams Natural Resources Fund, Inc. is 00548F105.
Filing Stats: 1,368 words · 5 min read · ~5 pages · Grade level 10.6 · Accepted 2024-09-12 17:00:43
Key Financial Figures
- $0.001 — INC (Name of Issuer) Common Shares, $0.001 par value (Title of Class of Securiti
- $62,321,950 — ported herein. A total of approximately $62,321,950 was paid to acquire the Common Shares r
Filing Documents
- formsc13da.htm (SC 13D/A) — 69KB
- 0001062993-24-016535.txt ( ) — 70KB
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: September 12, 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 during the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 7/16/2024 Buy 7,674 23.93 7/17/2024 Buy 4,687 24.09 7/18/2024 Buy 12,948 24.29 7/19/2024 Buy 7,553 24.07 7/22/2024 Buy 7,549 23.85 7/31/2024 Buy 1,083 24.29 8/1/2024 Buy 9,863 24.14 8/2/2024 Buy 9,881 23.39 8/22/2024 Buy 11,058 22.70 8/23/2024 Buy 2,796 22.84 8/28/2024 Buy 100 22.98 9/4/2024 Buy 13,785 22.76 9/5/2024 Buy 326 22.36 9/6/2024 Buy 170 22.21 9/10/2024 Buy 10,476 22.19 9/11/2024 Buy 7,751 21.76