Saba Capital Amends Filing for Neuberger Berman Connectivity Fund

TL;DR

Saba Capital updated its stake in Neuberger Berman Next Gen Connectivity Fund. Watch for potential moves.

AI Summary

Saba Capital Management, L.P. filed an amendment (SC 13D/A) on April 11, 2024, regarding their holdings in Neuberger Berman Next Generation Connectivity Fund Inc. This filing indicates a change in their beneficial ownership of the company's common shares.

Why It Matters

This amendment signals a potential shift in the investment strategy or stake held by Saba Capital in the Neuberger Berman fund, which could influence the fund's future performance and shareholder value.

Risk Assessment

Risk Level: medium — Amendments to Schedule 13D filings often indicate changes in significant shareholder positions, which can lead to increased volatility or strategic shifts in the target company.

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity
• Neuberger Berman Next Generation Connectivity Fund Inc. (company) — Subject company
• Michael D'Ange (person) — Contact person at Saba Capital

FAQ

Key Financial Figures

• $0.0001 — Inc (Name of Issuer) Common Shares, $0.0001 par value (Title of Class of Securiti
• $42,637,914 — ported herein. A total of approximately $42,637,914 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 56KB
• 0001062993-24-008293.txt ( ) — 58KB

is hereby amended and supplemented as follows

Item 4 is hereby amended and supplemented as follows: On April 9, 2024, Saba Capital Master Fund, Ltd., a private fund advised by Saba Capital, submitted to the Issuer a notice of intent informing the Issuer of its intention to nominate Paul Kazarian (the " Nominee ") as an independent director for election at the Issuer's 2024 annual meeting of shareholders (the " Annual Meeting "). Item 5. INTEREST IN SECURITIES OF THE ISSUER (a) See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 78,761,496 shares of common stock outstanding as of 10/31/23, as disclosed in the company's N-CSR filed 1/5/24. (b) See rows (7) through (10) of the cover pages to this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. CUSIP No. 64133Q108 SCHEDULE 13D/A Page 6 of 8 Pages (c) The transactions in the Common Shares effected within the past sixty days by the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. (d) The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Shares. (e) Not applicable. CUSIP No. 64133Q108 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: April 11, 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. 64133Q108 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 within the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 4/9/2024 Buy 75,759 11.85

View Full Filing

View this SC 13D/A filing on SEC EDGAR