Saba Capital reports 355,835 BCV shares (6.07%) in Schedule 13D/A

Saba Capital Management filed Amendment No. 3 to Schedule 13D on Bancroft Fund Ltd. (BCV), reporting beneficial ownership of 355,835 common shares, representing 6.07% of the class.

Rhea-AI Filing Summary

Saba Capital Management filed Amendment No. 3 to Schedule 13D on Bancroft Fund Ltd. (BCV), reporting beneficial ownership of 355,835 common shares, representing 6.07% of the class. The percentage is based on 5,862,058 shares outstanding as of 3/31/25.

Saba and its affiliates report shared voting and dispositive power over 355,835 shares and no sole power. The filing states an aggregate purchase consideration of approximately $6,366,769. The date of the event requiring the filing is 10/29/2025, and the amendment updates Items 3, 5, and 7. Recent transactions within sixty days are listed in Schedule A.

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13D/A shows a 6.07% BCV stake with shared control.

Saba Capital discloses 355,835 BCV shares, equal to 6.07% of the fund’s common shares, calculated against 5,862,058 outstanding as of 3/31/25. The group reports shared voting and dispositive power over the entire position and no sole power, indicating coordinated control among reporting persons.

Purchase consideration totals $6,366,769. The amendment date of event is 10/29/2025 and it updates Items 3, 5, and 7, with trade details referenced in Schedule A. Actual effects depend on holder actions disclosed in future materials.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Saba Capital disclose about BCV in this Schedule 13D/A?

Saba filed Amendment No. 3 reporting beneficial ownership of 355,835 Bancroft Fund common shares, or 6.07% of the class.

How many Bancroft Fund (BCV) shares does Saba report owning?

Saba reports beneficial ownership of 355,835 common shares.

What percentage of BCV does Saba Capital’s stake represent?

The filing lists 6.07% of the class, based on 5,862,058 shares outstanding as of 3/31/25.

What voting and dispositive powers are reported?

Saba and affiliates report shared voting and dispositive power over 355,835 shares and no sole power.

What was the total consideration paid for the reported BCV shares?

The filing states approximately $6,366,769 was paid to acquire the shares.

What date triggered this amended filing and what items were updated?

The date of event is 10/29/2025, and the amendment updates Items 3, 5, and 7.

Who are the reporting persons in this 13D/A for BCV?

The reporting persons are Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein.

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Accepted by SEC EDGAR 10/31/2025 - 06:48 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Bancroft Fund Ltd.

(Name of Issuer)

Common Shares, $0.001 par value

(Title of Class of Securities)

059695106

(CUSIP Number)

Saba Capital Management, L.P.
405 Lexington Avenue, 58th Floor, Attention: Michael D'Angelo
New York, NY, 10174
(212) 542-4635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/29/2025

(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.

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).

SCHEDULE 13D

CUSIP No. 059695106

1

Name of reporting person

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

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 355,835.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 355,835.00

11

Aggregate amount beneficially owned by each reporting person

355,835.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.07 %

14

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 5,862,058 shares of common stock outstanding as of 3/31/25, as disclosed in the company's N-CSRS filed 6/6/25.

SCHEDULE 13D

CUSIP No. 059695106

1

Name of reporting person

Boaz R. Weinstein

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check 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 0.00
8	Shared Voting Power 355,835.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 355,835.00

11

Aggregate amount beneficially owned by each reporting person

355,835.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.07 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 5,862,058 shares of common stock outstanding as of 3/31/25, as disclosed in the company's N-CSRS filed 6/6/25.

SCHEDULE 13D

CUSIP No. 059695106

1

Name of reporting person

Saba Capital Management GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 355,835.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 355,835.00

11

Aggregate amount beneficially owned by each reporting person

355,835.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.07 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 5,862,058 shares of common stock outstanding as of 3/31/25, as disclosed in the company's N-CSRS filed 6/6/25.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $0.001 par value
(b)	Name of Issuer: Bancroft Fund Ltd.
(c)	Address of Issuer's Principal Executive Offices: One Corporate Center, Rye, NEW YORK , 10580.
Item 1 Comment: This Amendment No. 3 amends Items 3, 5, and 7.
Item 2.	Identity and Background
(a)	This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein.
(b)	The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.
(c)	The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities.
(d)	The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	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 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)	Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.
Item 3.	Source and Amount of Funds or Other Consideration
	Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $6,366,769 was paid to acquire the Common Shares reported herein.
Item 5.	Interest in Securities of the Issuer
(a)	See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 5,862,058 shares of common stock outstanding as of 3/31/25, as disclosed in the company's N-CSRS filed 6/6/25.
(b)	See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	The transactions in the Common Shares effected by the Reporting Persons within the past sixty days prior to 10/29/25, the date of the event which required filing of this Schedule 13D/A, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference.
(d)	The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 5 - Schedule A

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.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	10/31/2025

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	10/31/2025

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	10/31/2025

Comments accompanying signature:

Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823