Boaz Weinstein’s Saba Capital has recently filed a 13G filing with the Securities and Exchange Commission. According to the filing, Saba currently owns around 18.79 million shares of BlackRock Debt Strategies Fund, Inc. (NYSE:DSU). The position is passive by nature and amassed around 10.05% of BlackRock Debt Strategies Fund, Inc. (NYSE:DSU)’s outstanding common stock. More details about the position can be seen below.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Saba Capital Management, L.P. | 18,790,316 | 18,790,316 | 10.05% | |||
| Boaz R. Weinstein | 18,790,316 | 18,790,316 | 10.05% |
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Page 1 of 6 SEC Filing
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
BlackRock Debt Strategies Fund,
Inc.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
09255R103
(CUSIP Number)
January 15, 2016
(Date of Event which
Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a
reporting person’s initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities
of that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
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Page 2 of 6 SEC Filing
SCHEDULE 13G/A
| CUSIP No. 09255R103 |
| 1 | Names of Reporting Persons |
| Saba Capital Management, L.P. | |
| 2 | Check the appropriate box if a member of a Group (see instructions) |
| (a) [ ] | |
| (b) [ ] | |
| 3 | Sec Use Only |
| 4 | Citizenship or Place of Organization |
| Delaware |
| 5 | Sole Voting Power | |
| -0- | ||
| Number of | ||
| Shares | 6 | Shared Voting Power |
| Beneficially | 18,790,316 | |
| Owned by Each | ||
| Reporting Person | 7 | Sole Dispositive Power |
| With: | ||
| -0- | ||
| 8 | Shared Dispositive Power | |
| 18,790,316 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting |
| 18,790,316 | |
| 10 | Check box if the aggregate amount in row (9) excludes |
| [ ] | |
| 11 | Percent of class represented by amount in row |
| 10.05%* | |
| 12 | Type of Reporting Person (See Instructions) |
| PN; IA |
*The percentages used herein and in the rest of this Schedule
13G/A are calculated based upon 186,913,216 shares of common stock outstanding
as of 8/31/15, as disclosed in the Company’s Certified Shareholder Report on
Form N-CSRS filed on 11/03/15.
Page 2 of 6
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Page 3 of 6 SEC Filing
SCHEDULE 13G/A
| CUSIP No. 09255R103 |
| 1 | Names of Reporting Persons |
| Boaz R. Weinstein | |
| 2 | Check the appropriate box if a member of a Group (see instructions) |
| (a) [ ] | |
| (b) [ ] | |
| 3 | Sec Use Only |
| 4 | Citizenship or Place of Organization |
| United States |
| 5 | Sole Voting Power | |
| -0- | ||
| Number of | ||
| Shares | 6 | Shared Voting Power |
| Beneficially | 18,790,316 | |
| Owned by Each | ||
| Reporting Person | 7 | Sole Dispositive Power |
| With: | ||
| -0- | ||
| 8 | Shared Dispositive Power | |
| 18,790,316 |
| 9 | Aggregate Amount Beneficially Owned by Each Reporting |
| 18,790,316 | |
| 10 | Check box if the aggregate amount in row (9) excludes |
| [ ] | |
| 11 | Percent of class represented by amount in row |
| 10.05%* | |
| 12 | Type of Reporting Person (See Instructions) |
| IN |
*The percentages used herein and in the rest of this
Schedule 13G/A are calculated based upon 186,913,216 shares of common stock
outstanding as of 8/31/15, as disclosed in the Company’s Certified Shareholder
Report on Form N-CSRS filed on 11/03/15.
Page 3 of 6
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Page 4 of 6 SEC Filing
Item 1.
| (a) | Name of Issuer: BlackRock Debt Strategies Fund, |
| (b) | Address of Issuer’s Principal Executive Offices: |
Item 2.
| (a) | Name of Person Filing: This statement is being |
| The Reporting Persons have entered into a Joint Filing | |
| Any disclosures herein with respect to persons other than | |
| The filing of this statement should not be construed as |
| (b) | Address of Principal Business Office or, if None, |
| The address of the business office of Saba Capital and | |
| (c) | Citizenship: Saba Capital is organized as a |
| (d) | Title and Class of Securities: Common stock, $0.01 |
| (e) | CUSIP No.: |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) |
| (a) | [_] | Broker or dealer registered under Section 15 of the Act; | |
| (b) | [_] | Bank as defined in Section 3(a)(6) of the Act; | |
| (c) | [_] | Insurance company as defined in Section 3(a)(19) of the Act; | |
| (d) | [_] | Investment company registered under Section 8 of the Investment Company Act of 1940; | |
| (e) | [_] | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); | |
| (f) | [_] | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); |
Page 4 of 6
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Page 5 of 6 SEC Filing
| (g) | [_] | A parent holding company or control person in accordance | |
| (h) | [_] | A savings associations as defined in Section 3(b) of the | |
| (i) | [_] | A church plan that is excluded from the definition of an | |
| (j) | [_] | A non-U.S. institution in accordance with Rule | |
| (k) | [_] | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If |
| Item 4. | Ownership |
| (a) | Amount Beneficially Owned: The information |
| Item 5. | Ownership of Five Percent or Less of a Class. N/A |
| Item 6. | Ownership of more than Five Percent on Behalf of Another Person. N/A |
| Item 7. | Identification and classification of the subsidiary which acquired the security being reported on by the parent holding company or control person. N/A |
| Item 8. | Identification and classification of members of the group. N/A |
| Item 9. | Notice of Dissolution of Group. N/A |
| Item 10. | Certifications. |
| By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. |
Page 5 of 6
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Page 6 of 6 SEC Filing
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: 1/21/2016
/s/Michael D’Angelo
Name: Michael D’Angelo
Title: Chief Compliance Officer
Boaz R. Weinstein
By: Michael D’Angelo
Title: Attorney-in-fact***
*** Pursuant to a Power of Attorney dated as of November 16,
2015
Page 6 of 6
