MEGI.NYSENyli Cbre Global Infrastructure Megatrends Term Fund

SCHEDULE: Saba Capital Amends NYLI CBRE Fund Stake After Sales

Sentiment:

Amendment to Beneficial Ownership Statement

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Saba Capital Management, L.P. filed an Amendment No. 5 to Schedule 13D, updating its beneficial ownership in NYLI CBRE Global Infrastructure Megatrends Term Fund to 9.83% after recent share sales.

Summary

  • Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein (the "Reporting Persons") jointly filed Amendment No. 5 to Schedule 13D.
  • The filing updates beneficial ownership in NYLI CBRE Global Infrastructure Megatrends Term Fund (Common Shares, $0.001 par value).
  • As of January 16, 2026, the Reporting Persons beneficially own 5,118,291 Common Shares, representing 9.83% of the class.
  • This percentage is calculated based on 52,047,534 shares of common stock outstanding as of May 31, 2025, as disclosed in the company's N-CSR filed August 1, 2025.
  • Approximately $67,389,292 was paid to acquire the Common Shares reported.
  • Between December 8, 2025, and January 16, 2026, Saba Capital sold a total of 535,285 shares in open market transactions at prices ranging from $13.59 to $13.90 per share.

Sentiment

Score: 5

Explanation: Neutral. The filing is a routine update of beneficial ownership following share sales. While sales occurred, the reporting persons still hold a significant stake, and no specific activist intent or negative commentary about the issuer was provided.

Positives

  • The Reporting Persons maintain a significant stake (9.83%) in the fund, indicating continued substantial investment interest.

Negatives

  • Saba Capital sold a substantial number of shares (535,285) between December 8, 2025, and January 16, 2026, which could be interpreted as a reduction in conviction or a portfolio rebalancing.

Future Outlook

No specific forward-looking statements or guidance from the issuer or reporting persons regarding the issuer's future were provided in this filing.

Industry Context

This filing reflects a significant institutional investor's (Saba Capital) adjustment of its position in a closed-end fund focused on global infrastructure megatrends. Changes in large stakes by such investors can signal shifts in sentiment towards the fund's management or underlying assets, though no specific activist intent was declared in this amendment.

Legal Proceedings

  • The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
  • The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.

Stakeholder Impact

  • Shareholders: The sale of a significant block of shares by a major investor like Saba Capital could potentially create downward pressure on the share price or signal a lack of confidence, though the remaining stake is still substantial.

Key Dates

DateDescription
2015-11-16Date of power of attorney for Michael D'Angelo.
2015-12-28Date of initial Schedule 13G filing by the Reporting Persons.
2025-05-31Date as of which 52,047,534 common shares were outstanding, per the company's N-CSR.
2025-08-01Date of the company's N-CSR filing disclosing shares outstanding.
2025-12-08Date of previous Schedule 13D/A filing and start date of reported share sales by Saba Capital.
2025-12-09Saba Capital sold 11,571 shares at $13.76.
2025-12-24Saba Capital sold 19,336 shares at $13.76.
2025-12-26Saba Capital sold 75,521 shares at $13.77.
2025-12-31Saba Capital sold 12,500 shares at $13.83.
2026-01-02Saba Capital sold 35,070 shares at $13.86.
2026-01-06Saba Capital sold 47,920 shares at $13.74.
2026-01-07Saba Capital sold 47,547 shares at $13.70.
2026-01-08Saba Capital sold 69,325 shares at $13.59.
2026-01-09Saba Capital sold 9,145 shares at $13.72.
2026-01-12Saba Capital sold 30,586 shares at $13.72.
2026-01-13Saba Capital sold 82,608 shares at $13.74.
2026-01-14Saba Capital sold 28,298 shares at $13.80.
2026-01-15Saba Capital sold 40,916 shares at $13.88.
2026-01-16End date of reported share sales by Saba Capital and date of event requiring filing of this Schedule 13D/A.
2026-01-21Signature date for the current Schedule 13D/A filing.

Recommendation

hold

The filing indicates a significant institutional investor, Saba Capital, has reduced its stake in NYLI CBRE Global Infrastructure Megatrends Term Fund by selling over 500,000 shares. While this is a notable divestment, Saba Capital still retains a substantial 9.83% ownership. Without further context on Saba Capital's specific intentions or any stated concerns about the fund's performance, this action appears to be a portfolio rebalancing rather than a complete exit or an aggressive activist move. Therefore, a "hold" recommendation is appropriate, suggesting investors monitor future filings and the fund's performance for clearer signals.

Keywords

NYLI CBRE Global Infrastructure Megatrends Term Fund, Saba Capital Management, Schedule 13D, beneficial ownership, institutional investor, closed-end fund, infrastructure, equity stake, share sales

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