Saba Capital Lifts Its BlackRock TCP Capital Stake to 7.14% From 5.11%
Saba reports paying a total of approximately $24,194,242 for the shares, compared with approximately $17,149,739 in its initial filing.
Saba Capital Management, L.P. reported owning 5,986,934 shares of BlackRock TCP Capital Corp., or 7.14% of the common shares, according to a Schedule 13D amendment filed with the US Securities and Exchange Commission on Nov. 6.
The amendment gives Nov. 4 as the date of the event that required the filing. Saba's previous Schedule 13D, filed Oct. 14, reported a 5.11% stake. The amendment says the trades since that filing were all made in the open market, and it calculates the percentages on 83,902,775 shares of common stock outstanding, as disclosed in a 10-Q filed by the company.
The filing is made jointly with Saba Capital Management GP, LLC and Boaz R. Weinstein. It describes Weinstein as managing member of the general partner of Saba Capital. Funds and accounts advised by Saba Capital have the right to receive dividends and sale proceeds from the shares, according to the filing.
In its Oct. 14 filing, Saba said it bought the shares because it believes they are undervalued, and that it may seek to influence the company to engage in "share buy-backs, tenders, and liquidations" or to change its governance, investment strategy or investment manager.
Saba Capital Management, L.P., one of the firm's SEC-registered advisers, reported $18.3 billion in regulatory assets under management and 12 private funds in the SEC's adviser data for September 2026.