BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) is the issuer whose shares are reported by First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation. All three list the same 1,542,237 shares, or 8.38%, with shared dispositive power; each reports zero sole and shared voting power. Each disclaims beneficial ownership of the shares identified.
First Trust Portfolios sponsors certain unit investment trusts that hold DMB shares. Their trustees ordinarily vote those shares as closely as possible in the same manner and general proportion as shares held outside the trusts.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. (DMB) is the issuer whose common stock Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC report on Schedule 13G. Each lists 1,215,721 shares, or 6.6%, with shared voting and dispositive power; the reported amounts are identical. The advisers state that all reported securities are owned by client accounts and disclaim beneficial ownership. The reported percentage is based on 18,405,973 shares outstanding as of February 28, 2006.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. is the subject of a contested proxy solicitation by Saba Capital, Saba Capital Master Fund, Ltd., Boaz R. Weinstein and nominee Paul Kazarian. Saba seeks election of Mr. Kazarian as a Class III director and shareholder approval to amend the Fund’s charter to declassify the board.
Saba states it beneficially owns 1,565,216 Common Shares (representing 8.5% of common shares based on 18,405,973 outstanding as of February 28, 2026). Saba cites a trading discount to NAV of -6.16% as of June 29, 2026 (three-year average discount -10.26%, source Morningstar) and urges shareholders to return the enclosed GOLD proxy card voting FOR the Nominee and FOR declassification.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. is soliciting votes for its virtual 2026 Annual Meeting where stockholders will elect three Class III directors and consider a proposal to amend the Fund's Charter to declassify the Board. The Board unanimously recommends voting FOR its nominees and AGAINST the Charter Amendment on the enclosed WHITE proxy card.
The proxy notice explains the Board's opposition to an activist investor-led nominee and to declassification, cites the Fund's multi-year performance (outperforming the Bloomberg U.S. Municipal Bond Index on an NAV basis in seven of the past ten calendar years) and notes average distributions of $0.0474 per share over ten years. The notice discloses that Saba-related parties have provided notice of an intent to nominate and that Saba and First Trust each report holdings above 6% of Common Stock in the excerpted table.
BNY Mellon Municipal Bond Infrastructure Fund, Inc. delivers its annual certified shareholder report for the fiscal year ended February 28, 2026, presenting audited financial statements, a Schedule of Investments, performance commentary and distribution information. The report shows net assets of $220,097,168, net asset value per share of $11.96, and a 12‑month total return of 3.01% (NAV) with a market price return of 6.92%. The fund discloses portfolio details including $336,394,006 in municipal securities (cost $335,093,749), leverage via $75,000,000 RVMTP preferred shares and $42,495,000 inverse floater notes, and notes material items such as $46,544,378 accumulated capital losses carried forward.
Saba Capital Management and affiliates report an 8.5% stake in BNY Mellon Municipal Bond Infrastructure Fund, Inc. and update their intentions. They collectively beneficially own 1,565,216 common shares, based on 18,405,973 shares outstanding as of 8/31/25.
The group states approximately $16,214,218 was paid to acquire these shares using investor subscription proceeds, capital appreciation, and margin borrowings. On April 10, 2026, a Saba-advised fund notified the fund of its intention to nominate Paul Kazarian as an independent director candidate at the 2026 annual shareholder meeting.
First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation jointly report beneficial ownership of 10.06% — 1,851,290 shares — of Common stock of BNY Mellon Municipal Bond Infrastructure Fund, Inc. as of 03/31/2026. The filing states the position represents shared dispositive power only and is filed pursuant to Rule 13d-1(k)(1). The filing explains unit investment trusts sponsored by First Trust hold the shares, trustees typically vote those shares, and the reporting parties disclaim beneficial ownership. Signatures are dated 04/07/2026.
Saba Capital Management, L.P. and its affiliates report beneficial ownership of 1,546,121 common shares, or 8.4%, of BNY Mellon Municipal Bond Infrastructure Fund, Inc. The filing, Amendment No. 4 to a Schedule 13D, reflects shared voting and shared dispositive power over all of these shares, with no sole voting or dispositive authority reported. The ownership percentage is calculated using 18,405,973 common shares outstanding as of 8/31/25, as disclosed in the fund’s N-CSRS filed 10/28/25. The reporting persons are Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein, acting together as a group.
Saba Capital Management and related entities filed an amended beneficial ownership report on BNY Mellon Municipal Bond Infrastructure Fund, Inc. They report holding 1,337,952 common shares, representing 7.27% of the fund’s outstanding shares, based on 18,405,973 shares outstanding as of August 31, 2025.
The filing states that approximately $13,764,992 was paid to acquire these shares using investor subscription capital, related appreciation and ordinary-course margin borrowings. On December 17, 2025, Saba Capital sent a letter to the fund’s chairman expressing concerns about the fund’s long-term viability, declaring its intent to nominate trustee candidates at the 2026 annual meeting, and encouraging the board to consider a value-enhancing merger.