Saba's persistent accumulation and explicit mention of potential liquidation and board changes signal an escalating activist campaign. Watch for shareholder proposals, proxy solicitations, or a tender offer as Saba pushes for actions to narrow the NAV discount.
Price Chart
Executive Summary
Saba Capital Management filed Amendment No. 7 to its Schedule 13D on The Mexico Fund Inc., reporting beneficial ownership of 2,393,834 common shares (16.6% of shares outstanding as of 8/31/26). The filing discloses continued open-market buying from August through October 2026, with 13 purchase transactions totaling approximately 93,070 shares at prices between $19.75 and $21.41. Saba reiterates its view that shares are undervalued and trading at a discount to NAV, and signals potential engagement on board appointments, governance, strategic plans, and possible liquidation of the fund.
Key Financial Metrics
Key Facts
- Saba Capital now owns 2,393,834 common shares, representing 16.6% of the 14,420,065 shares outstanding as of 8/31/26.
- The filing covers 13 open-market purchases from 8/13/2026 to 10/5/2026 totaling approximately 93,070 shares at prices between $19.75 and $21.41.
- Saba states the shares are undervalued and represent an attractive investment opportunity, and may engage with management on board appointments, governance, strategic plans, and potential liquidation.
- The total cost to acquire the reported common shares is approximately $45,058,855.
- This is Amendment No. 7, indicating an ongoing activist campaign with continued accumulation.
Financial Impact
Saba has spent approximately $45 million to build a 16.6% stake; continued buying suggests conviction in a NAV discount catalyst.
Risk Factors
- Saba may face resistance from the board or other shareholders, delaying any catalyst.
- The fund's closed-end structure and regulatory constraints may limit Saba's ability to force liquidation or other changes.
- Continued buying at current levels could be a value trap if the NAV discount fails to narrow.
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| SC 13D/A Filing (Primary) | 0001062993-26-005216 |
| Document: 0001062993-26-005216-index-headers.html | 0001062993-26-005216 |
| Document: 0001062993-26-005216-index.html | 0001062993-26-005216 |
| Document: 0001062993-26-005216.txt | 0001062993-26-005216 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 7, 2026 18d ago | 8-K | $20.08 $19.90 | ▼ −0.90% | ▲ +0.08% | $20.29 (+1.05%) |
Oct 7, 2026 18d ago | SC 13D/A | $20.08 $19.90 | ▼ −0.90% | ▲ +0.08% | $20.29 (+1.05%) |
Oct 5, 2026 20d ago | Insider Cluster | $20.05 $20.31 | ▲ +1.30% | ▲ +0.87% | $20.29 (+1.20%) |
Jul 8, 2026 15w ago | 8-K | $21.47 $21.57 | ▲ +0.47% | ▼ −0.40% | $20.29 (−5.50%) |
Jun 15, 2026 18w ago | Insider Buy | $22.29 $21.65 | ▼ −2.87% | ▼ −0.64% | $20.29 (−8.97%) |
Jun 11, 2026 19w ago | Insider Buy | $21.79 $22.26 | ▲ +2.16% | ▲ +1.72% | $20.29 (−6.88%) |
Jun 8, 2026 19w ago | Insider Buy | $21.32 $22.30 | ▲ +4.60% | ▲ +2.48% | $20.29 (−4.83%) |
Jun 5, 2026 20w ago | 8-K | $21.40 $22.30 | ▲ +4.21% | ▲ +3.64% | $20.29 (−5.19%) |
May 7, 2026 24w ago | 8-K | $21.81 $22.15 | ▲ +1.56% | ▲ +0.05% | $20.29 (−6.97%) |
Apr 7, 2026 28w ago | 8-K | $21.00 $21.58 | ▲ +2.77% | ▼ −2.56% | $20.29 (−3.36%) |
US Market Status
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