Saba Capital reports 7.08% stake in Royce Micro-Cap

Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein report beneficial ownership of 3,786,726 common shares of Royce Micro-Cap Trust, Inc., representing 7.08% of the outstanding common shares.

Accepted by SEC EDGAR 08/05/2026 - 08:49 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein report beneficial ownership of 3,786,726 common shares of Royce Micro-Cap Trust, Inc., representing 7.08% of the outstanding common shares.

The reported position is held with shared voting and dispositive power and no sole authority. Percentages are based on 53,478,521 common shares outstanding as of 12/31/25, as disclosed in the issuer’s N-CSR filed 2/27/26. Approximately $40,072,542 was paid to acquire the reported shares, using investor subscription proceeds, related capital appreciation and ordinary-course margin account borrowings.

The common shares are held in funds and accounts advised by Saba Capital, which are entitled to dividends and sale proceeds. This Amendment No. 2 amends Items 3, 5, and 7 and reflects additional open‑market transactions described in Schedule A.

Key Figures

Beneficial ownership: 3,786,726 shares Ownership percentage: 7.08 % Shares outstanding: 53,478,521 shares +2 more

5 metrics

Beneficial ownership 3,786,726 shares Common shares of Royce Micro-Cap Trust reported by the Saba reporting persons

Ownership percentage 7.08 % Portion of Royce Micro-Cap Trust common shares represented by the reported stake

Shares outstanding 53,478,521 shares Royce Micro-Cap Trust common shares outstanding as of 12/31/25 per N-CSR filed 2/27/26

Acquisition cost approximately $40,072,542 Total amount paid to acquire the reported common shares

Event date 08/04/2026 Date of the event requiring the Schedule 13D/A Amendment No. 2

Key Terms

Schedule 13D, beneficial owner, shared voting power, shared dispositive power, +2 more

6 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13D"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficial owner regulatory

"the beneficial owner of the Common Shares reported herein"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power financial

"Shared Voting Power 3,786,726.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 3,786,726.00"

margin account borrowings financial

"and margin account borrowings made in the ordinary course of business"

N-CSR regulatory

"as disclosed in the company's N-CSR filed 2/27/26"

A Form N-CSR is a regulatory filing that mutual funds and other registered investment companies send to the U.S. Securities and Exchange Commission and make available to shareholders; it includes the fund’s certified shareholder report with audited financial statements, performance data and management discussion. For investors, it’s like a fund’s official report card and financial statement combined — it helps you verify how the fund is performing, what risks and fees exist, and whether the manager’s explanations match the numbers.

FAQ

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

What stake in Royce Micro-Cap Trust (RMT) does Saba Capital report?

Saba Capital and related reporting persons report beneficial ownership of 3,786,726 common shares of Royce Micro-Cap Trust, Inc., representing 7.08% of the outstanding common shares, based on 53,478,521 shares outstanding as of 12/31/25 per the issuer’s N-CSR.

How much did Saba Capital pay to acquire its RMT position?

The reporting persons state that a total of approximately $40,072,542 was paid to acquire the Royce Micro-Cap Trust common shares reported. The funds came from investor subscription proceeds, capital appreciation on those investments, and ordinary-course margin account borrowings secured by portfolio positions.

What voting and dispositive powers does Saba have over RMT shares?

The reporting persons disclose 0 shares with sole voting or dispositive power and 3,786,726 shares with shared voting and shared dispositive power. This means decisions to vote or dispose of the reported Royce Micro-Cap Trust shares are made jointly, rather than by any one reporting person alone.

On what share count is Saba Capital’s 7.08% RMT ownership based?

The 7.08% ownership figure is calculated using 53,478,521 common shares of Royce Micro-Cap Trust outstanding as of 12/31/25. That outstanding share number is referenced from the company’s N-CSR filed on 2/27/26, which the reporting persons cite for their percentage calculation.

When did the event triggering this Schedule 13D/A for RMT occur?

The event requiring this beneficial ownership report is dated 08/04/2026. The amendment also notes that it follows a prior amendment based on an event dated 6/24/26, and that subsequent open-market transactions are detailed in Schedule A incorporated by reference.

Who are the reporting persons in the RMT Schedule 13D/A filing?

The joint reporting persons are Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein. Saba Capital acts as investment manager to funds and accounts, Saba GP is its general partner, and Mr. Weinstein is managing member of Saba Capital’s general partner.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Royce Micro-Cap Trust, Inc.

(Name of Issuer)

Common Shares, $0.001 par value

(Title of Class of Securities)

780915104

(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)

08/04/2026

(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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 780915104

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 3,786,726.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,786,726.00

11

Aggregate amount beneficially owned by each reporting person

3,786,726.00

12

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

13

Percent of class represented by amount in Row (11)

7.08 %

14

Type of Reporting Person (See Instructions)

PN, IA

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 53,478,521 shares of common stock outstanding as of 12/31/25, as disclosed in the company's N-CSR filed 2/27/26.

SCHEDULE 13D

CUSIP Number(s): 780915104

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 3,786,726.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,786,726.00

11

Aggregate amount beneficially owned by each reporting person

3,786,726.00

12

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

13

Percent of class represented by amount in Row (11)

7.08 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 53,478,521 shares of common stock outstanding as of 12/31/25, as disclosed in the company's N-CSR filed 2/27/26.

SCHEDULE 13D

CUSIP Number(s): 780915104

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 3,786,726.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,786,726.00

11

Aggregate amount beneficially owned by each reporting person

3,786,726.00

12

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

13

Percent of class represented by amount in Row (11)

7.08 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

The percentages used herein are calculated based upon 53,478,521 shares of common stock outstanding as of 12/31/25, as disclosed in the company's N-CSR filed 2/27/26.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $0.001 par value
(b)	Name of Issuer: Royce Micro-Cap Trust, Inc.
(c)	Address of Issuer's Principal Executive Offices: One Madison Avenue, New York, NEW YORK , 10010.
Item 1 Comment: This Amendment No. 2 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 $40,072,542 was paid to acquire the Common Shares reported herein.
Item 4.	Purpose of Transaction
	Not Applicable.
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 53,478,521 shares of common stock outstanding as of 12/31/25, as disclosed in the company's N-CSR filed 2/27/26.
(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 subsequent to 6/24/26, the date of the event which required filing of the prior 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.
(e)	Not Applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Not Applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 4 - 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:	08/04/2026

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	08/04/2026

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	08/04/2026

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