LGI - Lazard Global Total Return & Income Fund

What this means for you

Saba owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.

Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.

Email me if this changes

What happened, and when

1. Jan 3, 2025

   Saba sold down below 5% and stopped reporting.

   Original document →

2. Dec 9, 2024

   Saba cut its stake to 5.6% (from 6.7%). It has said it may push for changes.

   Original document →

3. Nov 26, 2024

   Saba cut its stake to 6.7% (from 7.8%). It has said it may push for changes.

   Original document →

4. Nov 4, 2024

   Saba cut its stake to 7.8% (from 8.8%). It has said it may push for changes.

   Original document →

5. May 17, 2024

   Saba raised its stake to 8.8% (from 7.7%). It has said it may push for changes.

   Original document →

About this fund

• Run by Lazard Asset Management LLC. Part of the Lazard fund family. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Size: about $238 million of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 10% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.2% a year in management fees; 2% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Dec 31, 2025) the fund paid $1.76 a share. $0.46 of that was income; $1.05 came from gains; $0.25 was your own money back, not income. As of Dec 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Dec 31, 2025): $18.38. The shares traded at $17.44, about 5.1% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 17.9% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +21.8%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Dec 31, 2025): the value of the holdings returned +15.3%. How the share price did: the shares returned +21.2% over the same year, counting payouts and the change in the market price. As of Dec 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2004.

What the fund holds

Mostly shares (87%), the rest bonds and cash and short-term holdings. About 47% issued in the U.S.

1. Kla - 4.7%
2. Taiwan Semiconductor Manufacturing - 4.6%
3. Cash and short-term - 4.4%
4. ASML Holding NV - 4.2%
5. Apple - 4.1%
6. Amazon.com - 3%
7. Abb - 2.9%
8. Amphenol - 2.8%
9. Microsoft - 2.7%
10. Nota Do Tesouro Nacional, Brazil Notas do Tesouro Nacional Serie F - 2.5%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →