Amended Statement of Beneficial Ownership (sc 13d/a)
February 10 2021 - 4:04PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
SCHEDULE
13D/A
(Rule
13d-101)
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO
§ 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)
(Amendment
No. 7) 1
Western
Asset Inflation - Linked Securities & Income Fund
(Name
of Issuer)
Common
Stock
(Title
of Class of Securities)
95766Q106
(CUSIP
Number)
Jodi
Hedberg, Chief Compliance Officer
Karpus
Management, Inc.
d/b/a
Karpus Investment Management
183
Sully’s Trail
Pittsford,
New York 14534
(585)
586-4680
Adam
W. Finerman, Esq.
Olshan
Frome Wolosky LLP
1325
Avenue of the Americas
New
York, New York 10019
(212)
451-2300
(Name,
Address and Telephone Number of Person
Authorized
to Receive Notices and Communications)
February
8, 2021
(Date
of Event which Requires Filing of this Statement)
If
the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this
Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following
box. ☒
Note:
Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See
§240.13d-7 for other parties to whom copies are to be sent.
________________________
1
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 disclosures provided
in a prior cover page.
The
information required on 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).
CUSIP
No. 95766Q106
|
13D
|
Page
2 of 5 Pages
|
1.
|
|
NAME
OF REPORTING PERSON
Karpus
Investment Management
|
|
|
2.
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
|
(a)
☒
(b)
☐
|
3.
|
|
SEC
USE ONLY
|
|
|
4.
|
|
SOURCE
OF FUNDS
WC
|
|
|
5.
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
|
|
☐
|
6.
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
NEW YORK
|
|
|
|
|
|
|
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
|
|
7.
|
|
SOLE
VOTING POWER
4,792,366
Shares
|
|
8.
|
|
SHARED
VOTING POWER
0
Shares
|
|
9.
|
|
SOLE
DISPOSITIVE POWER
5,042,772
Shares
|
|
10.
|
|
SHARED
DISPOSITIVE POWER
0
Shares
|
|
|
|
|
|
11.
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,042,772
Shares
|
|
|
12.
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
|
☐
|
13.
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.62%
|
|
|
14.
|
|
TYPE
OF REPORTING PERSON
IA
|
|
|
CUSIP
No. 95766Q106
|
13D
|
Page
3 of 5 Pages
|
The following constitutes Amendment No. 7 to the Schedule 13D filed
by the undersigned (“Amendment No. 7”). This Amendment No. 7 amends the Schedule 13D as specifically set forth herein.
|
Item
2.
|
Identity
and Background.
|
Item
2 of the Schedule 13D is hereby amended and restated as follows:
(a)
This statement is filed by:
(i)
Karpus
Management, Inc., d/b/a Karpus Investment Management ("Karpus"). Karpus is a registered investment adviser under Section 203 of
the Investment Advisers Act of 1940. Karpus is controlled by City of London Investment Group plc (“CLIG”), which is
listed on the London Stock Exchange. However, in accordance with SEC Release No. 34-39538 (January 12, 1998), effective informational
barriers have been established between Karpus and CLIG such that voting and investment power over the subject securities is exercised
by Karpus independently of CLIG, and, accordingly, attribution of beneficial ownership is not required between Karpus and CLIG.
The shares to which this Amendment No. 7 relates are owned directly by the accounts managed by Karpus;
Set
forth on Schedule A annexed hereto ("Schedule A") is the name and present principal business, occupation
or employment and the name, principal business and address of any corporation or other organization in which such employment is
conducted of the executive officers and directors of Karpus. To the best of the Reporting Persons' knowledge, except as otherwise
set on Schedule A, none of the persons listed on Schedule A beneficially owns any securities of the
Issuer or is a party to any contract, agreement or understanding required to be disclosed herein.
(b)
The address of the principal office of Karpus is 183 Sully's Trail, Pittsford, New York
14534.
(c)
The principal business of Karpus is serving as a registered investment adviser that provides investment management for individuals,
pension plans, profit sharing plans, corporations, endowments, trusts, and others.
(d)
Karpus nor any person listed on Schedule A has, during the last five years, been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
(e)
Karpus nor any person listed on Schedule A has, during the last five years, been party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject
to 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.
(f)
Karpus is organized under the laws of the State of New York.
|
Item
3.
|
Source
and Amount of Funds or Other Consideration.
|
Item
3 is hereby amended and restated to read as follows:
Karpus
Management, Inc., d/b/a Karpus Investment Management ("Karpus"), an independent registered investment advisor, has accumulated
5,042,772 Shares on behalf of accounts that are managed by Karpus (the "Accounts") under limited powers of attorney, which represents
21.62% of the outstanding Shares. All funds that have been utilized in making such purchases for the Accounts (which are open
market purchases unless otherwise noted) are from such Accounts.
The
aggregate purchase price of the 5,042,772 Shares beneficially owned by Karpus is approximately $57,734,567, excluding brokerage
commissions. The Shares purchased by Karpus were purchased with working capital (which may at any given time, include margin loans
made by brokerage firms in the ordinary course of business) in open market purchases except as otherwise noted.
|
Item
5.
|
Interest
in Securities of the Issuer.
|
Items
5A. (a) – (c) are hereby amended and restated to read as follows:
The aggregate percentage of Shares reporting owned by Karpus is
based upon 23,322,256 Common Shares assumed to be outstanding as of December 31, 2020, based on the 29,152,820 Common Shares outstanding
as of May 31, 2020, as reported in the Issuer’s Form N-CSR filed on July 24, 2020, less the 5,830,564 Common Shares purchased
from tendering shareholders, as reported in the Issuer’s Schedule TO filed on December 31, 2020.
|
(a)
|
As
of the close of business on February 8, 2021, Karpus beneficially owned the 5,042,772 Shares held in the
Accounts.
|
Percentage:
Approximately 21.62%
|
(b)
|
1. Sole power to vote or direct vote: 4,792,366
|
|
2. Shared power to vote or direct vote: 0
|
|
3. Sole power to dispose or direct the disposition: 5,042,772
|
|
4. Shared power to dispose or direct the disposition: 0
|
|
(c)
|
The
transactions in the Shares by Karpus for the past 60 days are set forth in Schedule
B and
incorporated herein by reference.
|
The
filing of this Schedule 13D shall not be deemed an admission that Karpus is, for purposes of Section 13(d) of the Securities Exchange
Act of 1934, as amended, the beneficial owner of any securities of the Issuer that it does not directly own. Karpus specifically
disclaims beneficial ownership of the securities reported herein that it does not directly own.
CUSIP
No. 95766Q106
|
13D
|
Page
4 of 5 Pages
|
SIGNATURES
After
reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth
in this statement is true, complete and correct.
|
KARPUS
MANAGEMENT, INC.
|
|
|
Dated: February
10, 2021
|
By:
|
/s/ Jodi
Hedberg
|
|
|
Name: Jodi Hedberg
Title: Chief Compliance Officer
|
|
|
|
CUSIP
No. 95766Q106
|
13D
|
Page
5 of 5 Pages
|
SCHEDULE A
Executive
Officers & Directors of Karpus Management, Inc., d/b/a Karpus Investment Management
Name
|
Position & Present Principal Occupation
|
Business Address
|
Shares Owned
|
|
|
|
|
Kathleen Finnerty Crane
|
Chief Financial Officer
|
183 Sully’s Trail, Pittsford, New York 14534
|
73 Shares
|
Dana R. Consler
|
Executive Vice President
|
183 Sully’s Trail, Pittsford, New York 14534
|
1,550 Shares
|
Thomas M. Duffy
|
Senior Vice President and
Director of Operations
|
183 Sully’s Trail, Pittsford, New York 14534
|
0 Shares
|
Sharon L. Thornton
|
Executive Vice President
|
183 Sully’s Trail, Pittsford, New York 14534
|
0 Shares
|
Jodi L. Hedberg
|
Chief Compliance Officer
|
183 Sully’s Trail, Pittsford, New York 14534
|
0 Shares
|
Daniel L. Lippincott
|
Chief
Investment Officer
|
183 Sully’s Trail, Pittsford, New York 14534
|
0 Shares
|
David D’Ambrosio
|
Senior Vice President
|
183 Sully’s Trail, Pittsford, New York 14534
|
722 Shares
|
Marijoyce Ryan
|
Senior Vice President
|
183 Sully’s Trail, Pittsford, New York 14534
|
0 Shares
|
Thomas
Wayne Griffin
|
Director
|
1125
Airport Road, Coatesville, PA 19320
|
0 Shares
|
Carlos
Manuel Yuste
|
Director
|
1125
Airport Road, Coatesville, PA 19320
|
0 Shares
|
SCHEDULE B
Transactions
in the Shares for the past sixty (60) days
Nature of the Transaction
|
Securities
Purchased/(Sold)
|
Price Per
Share($)
|
Date of
Purchase / Sale
|
KARPUS MANAGEMENT, INC., D/B/A/ KARPUS
INVESTMENT MANAGEMENT
(THROUGH THE ACCOUNTS)
Sale
of Common Stock
|
(19,775)
|
$13.31
|
12/10/2020
|
Sale
of Common Stock
|
(28,850)
|
$13.30
|
12/14/2020
|
Sale
of Common Stock
|
(6,000)
|
$13.48
|
12/15/2020
|
Sale
of Common Stock
|
(1,956,687)
|
$13.99
|
12/31/2020
|
Sale
of Common Stock
|
(1,081)
|
$13.13
|
1/6/2021
|
Sale
of Common Stock
|
(217)
|
$12.97
|
1/11/2021
|
Sale
of Common Stock
|
(8)
|
$12.73
|
1/12/2021
|
Sale
of Common Stock
|
(199)
|
$12.89
|
1/21/2021
|
Sale
of Common Stock
|
(1,388)
|
$12.94
|
2/5/2021
|
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