Form 4: Saba Capital Reduces MEGI Stake in December 2025

Saba Capital Management, L.P., a 10% owner of CBRE Global Infrastructure Megatrends Term Fund (MEGI), reported sales of common stock totaling 22,735 shares in early December 2025.

Summary

• Saba Capital Management, L.P., identified as a 10% owner of CBRE Global Infrastructure Megatrends Term Fund (MEGI), reported transactions involving the issuer's common stock.
• On December 2, 2025, Saba Capital sold 12,441 shares of common stock at a price of $14.06 per share.
• Following this transaction, Saba Capital's indirect beneficial ownership stood at 5,749,748 shares.
• On December 3, 2025, an additional 10,294 shares of common stock were sold at a price of $13.95 per share.
• After the second reported transaction, Saba Capital's indirect beneficial ownership decreased to 5,739,454 shares.
• Both transactions were made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer, intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Sentiment

Score: 5

Explanation: The filing reports significant sales by a 10% owner, which can be viewed with caution. However, the transactions were conducted under a Rule 10b5-1 plan, suggesting they were pre-scheduled and not necessarily indicative of new negative information, thus mitigating a stronger negative sentiment.

Negatives

• A significant owner, Saba Capital Management, L.P., reduced its stake in CBRE Global Infrastructure Megatrends Term Fund (MEGI) by selling a total of 22,735 shares over two days.
• The sales occurred at prices of $14.06 and $13.95 per share, indicating a reduction in exposure to the issuer.

Stakeholder Impact

• Shareholders may interpret the reduction in stake by a significant 10% owner as a potential signal of reduced conviction or a strategic portfolio adjustment, which could influence investor sentiment.

Key Dates

Keywords

Saba Capital Management, CBRE Global Infrastructure Megatrends Term Fund, MEGI, Insider Selling, Form 4, Beneficial Ownership, 10% Owner, Equity Sales, Rule 10b5-1