Saba Capital Management, L.P. has filed an amendment to its Schedule 13D, revealing an increase in its stake in the NYLIM CBRE Global Infrastructure Megatrends Term Fund. The filing, dated October 20, 2026, indicates that Saba now holds 4.92% of the fund's common shares, a significant position that underscores its belief in the fund's potential for growth.
The NYLIM CBRE Global Infrastructure Megatrends Term Fund, traded under the ticker MEGI on the NYSE, focuses on investments in infrastructure-related assets. This latest filing highlights Saba's strategic approach to investment management, particularly in the infrastructure sector, which has been gaining traction among investors seeking stable returns.
Background
The NYLIM CBRE Global Infrastructure Megatrends Term Fund, incorporated in Delaware, is designed to capitalize on global infrastructure trends. The fund has undergone several name changes, previously known as the MainStay CBRE Global Infrastructure Megatrends Fund and the MainStay CBRE Global Infrastructure Fund. Its recent filings indicate a proactive approach to managing its investments and responding to market dynamics.
What the Filing Says
The Schedule 13D/A filing reveals that Saba Capital acquired its shares in the fund through ordinary business operations and believes the shares are undervalued. The filing states, "The Reporting Persons acquired the Common Shares... for investment purposes because they believe that the Common Shares are undervalued and represent an attractive investment opportunity." This reflects Saba's confidence in the fund's future performance and its intention to engage with the fund's management and board.
Impact
This increase in ownership may influence the fund's governance and strategic direction. Saba Capital may engage in discussions with the fund's management and board regarding its operations, governance, and potential changes to enhance shareholder value. Additionally, the filing indicates that Saba may propose changes to the fund's investment strategy or management, potentially impacting other investors and stakeholders in the fund.
What's Next
The filing does not specify any immediate actions or next steps following this increase in ownership. However, Saba Capital's ongoing engagement with the fund's management could lead to further developments in governance or strategic initiatives.