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    Amendment: SEC Form SC 13D/A filed by Western Asset Inflation-Linked Income Fund

    9/18/24 2:47:40 PM ET
    $WIA
    Trusts Except Educational Religious and Charitable
    Finance
    Get the next $WIA alert in real time by email
    SC 13D/A 1 karpus-sch13d_18853.htm KARPUS MANAGEMENT / WESTERN ASSET INFLATION-LINKED INCOME FUND - SCHEDULE 13D/A(#2) Schedule 13D

     

     

    UNITED STATES

    SECURITIES AND EXCHANGE COMMISSION

    Washington, D.C. 20549

     

    SCHEDULE 13D/A
    Under the Securities Exchange Act of 1934

    (Amendment No. 2)*

     

     

     

     

    WESTERN ASSET INFLATION-LINKED INCOME FUND

    (Name of Issuer)

    Common Shares

    (Title of Class of Securities)

    95766Q106

    (CUSIP Number)

    Daniel L. Lippincott, President and Chief Investment 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.
    BakerHostetler
    45 Rockfeller Plaza
    New York, New York 10111
    (212) 589-4233

    (Name, Address and Telephone Number of Person

    Authorized to Receive Notices and Communications)

    September 16, 2024

    (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.

    __________ 

    * 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 Management Inc. d/b/a 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

     

    7,405,780.234 Shares

     

      8.  

    SHARED VOTING POWER

     

    0 Shares

     

      9.  

    SOLE DISPOSITIVE POWER

     

    7,650,780.234 Shares

     

      10.  

    SHARED DISPOSITIVE POWER

     

    0 Shares

     

    11.  

    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

     

    7,650,780.234 Shares

     

       
    12.  

    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES

     

     

     

       ☐
    13.  

    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

      

    32.80%

     

       

     14.

     

    TYPE OF REPORTING PERSON

       

    IA

     

       

     

     

     

     

    CUSIP No. 95766Q106

    13D Page 3 of 5 Pages    

     

    EXPLANATORY NOTE 

     

    This amendment No. 2 (“Amendment”) amends and supplements the statement on Schedule 13D filed by Karpus Management Inc., d/b/a Karpus Investment Management (“Karpus”), on December 13, 2023, and by Amendment No. 1 on May 20, 2024 ( the “Original Schedule 13D” and, as amended by this Amendment, the “Schedule 13D”), relating to the shares of Common Stock of Western Asset Inflation-Linked Income Fund, (“Shares”), a Massachusetts corporation (the “Issuer”). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have meanings set forth in the Original Schedule 13D. 

     

     

    Item 3.Source and Amount of Funds or Other Consideration.

      

    Item 3 is hereby amended and restated to read as follows:

     

    Karpus an independent registered investment advisor, has accumulated 7,650,780.234 Shares on behalf of accounts managed by Karpus (the “Accounts”) under limited powers of attorney. 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 7,650,780.234 Shares beneficially owned by Karpus is approximately $74,839,279.11, excluding brokerage commissions. The Shares purchased by Karpus 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 herein.

     

     

     

    Item 5.Interest in Securities of the Issuer.

     

    Item 5(a)-(c) are hereby amended to read as follows:

    (a)As of the close of business on September 16, 2024, Karpus beneficially owned an aggregate of 7,650,780.234 Shares held in the Accounts, which represents approximately 32.80% of the 23,322,256 Shares reported as outstanding as of July 30, 2024, on the Form N-CSR filed by the Issuer for period ending May 31, 2024.

    (b)1. Sole power to vote or direct vote:         7,405,780.234
      2. Shared power to vote or direct vote:          0
      3. Sole power to dispose or direct the disposition:         7,650,780.234
      4. Shared power to dispose or direct the disposition:         0

    (c)The transactions in the Shares by Karpus through the Accounts during the past sixty (60) days are set forth in Schedule B and incorporated herein by reference.

     

     

     

     

     

     

     

    CUSIP No. 95766Q106

    13D Page 4 of 5 Pages    

     

     

     

    SIGNATURE

     

    After reasonable inquiry and to the best of his knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct.

     

    Dated:    September 18, 2024

     

     

     
    KARPUS MANAGEMENT, INC.

     
           
    By:
    /s/ Jodi L. Hedberg  
        Name:  Jodi L. 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 125 Shares
    Thomas Michael Duffy

    Senior Vice President and

    Director of Operations 

    183 Sully’s Trail, Pittsford, New York 14534 0 Shares
    Daniel Lee Lippincott

    President and Chief Investment Officer 

    183 Sully’s Trail, Pittsford, New York 14534 0 Shares
     Jodi Lee Hedberg Chief Compliance Officer 183 Sully’s Trail, Pittsford, New York 14534 0 Shares
    Thomas Wayne Griffith Director

    17 East Market Street, West Chester, Pennsylvania 19382

    0 Shares
    Carlos Manuel Yuste Director 17 East Market Street, West Chester, Pennsylvania 19382 0 Shares

     

      


     

    SCHEDULE B

     

    Transactions in the Shares in the past sixty (60) days.

     

    Nature of the Transaction

    Shares

    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           (310) $8.02 7/22/2024
    Purchase of Common Stock         2,625  $7.97 7/24/2024
    Purchase of Common Stock            200  $8.01 7/29/2024
    Purchase of Common Stock         3,000  $8.14 8/1/2024
    Sale of Common Stock            (125) $8.11 8/5/2024
    Purchase of Common Stock            600  $8.10 8/6/2024
    Purchase of Common Stock             525  $8.05 8/7/2024
    Purchase of Common Stock         2,575  $8.15 8/14/2024
    Purchase of Common Stock            400  $8.10 8/15/2024
    Sale of Common Stock           (350) $8.17 8/21/2024
    Sale of Common Stock           (545) $8.26 8/22/2024
    Sale of Common Stock        (2,725) $8.29 8/23/2024
    Sale of Common Stock          (270) $8.25 8/26/2024
    Sale of Common Stock        (1,026) $8.20 8/28/2024
    Sale of Common Stock        (1,668) $8.21 8/30/2024
    Sale of Common Stock             (53) $8.20 9/5/2024
    Purchase of Common Stock        32,253  $8.21 9/6/2024
    Purchase of Common Stock       64,623  $8.23 9/9/2024
    Purchase of Common Stock         6,334  $8.26 9/10/2024
    Purchase of Common Stock             100  $8.22 9/11/2024
    Sale of Common Stock        (1,370) $8.33 9/13/2024
    Purchase of Common Stock    254,840  $8.36 9/16/2024

     

     

     

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