Saba Capital sells 303K ECAT shares in open market

Saba Capital Management, L.P., a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two open-market sales of common stock.

Accepted by SEC EDGAR 05/11/2026 - 02:24 PM EDT

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Form Type

4/A

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two open-market sales of common stock. On April 1, 2026, it sold 259,382 shares at $13.92 per share. On April 2, 2026, it sold an additional 44,010 shares at $13.87 per share. After these indirect sales, Saba Capital’s reported holdings stood at 21,718,771 common shares, indicating the transactions reduced but did not eliminate its sizable position.

Insider Trade Summary

Net Seller: 303,392 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 303,392 shs ($4.22M)

Type	Security	Shares	Price	Value
Sale	Common Stock	44,010	$13.87	$610K
Sale	Common Stock	259,382	$13.92	$3.61M

Holdings After Transaction: Common Stock — 21,718,771 shares (Indirect, -)

Key Figures

Total shares sold: 303,392 shares Sale on April 1, 2026: 259,382 shares at $13.92/share Sale on April 2, 2026: 44,010 shares at $13.87/share +1 more

4 metrics

Total shares sold 303,392 shares Aggregate ECAT common stock sold in early April 2026

Sale on April 1, 2026 259,382 shares at $13.92/share Open-market sale of ECAT common stock

Sale on April 2, 2026 44,010 shares at $13.87/share Open-market sale of ECAT common stock

Shares held after transactions 21,718,771 shares Indirect ECAT common stock ownership after April 2, 2026

Key Terms

open-market sale, indirect ownership, ten percent owner, Form 4/A

4 terms

open-market sale financial

"transaction_action: "open-market sale" for both common stock transactions"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

indirect ownership financial

"transactions list ownership_type as "indirect" and ownership_code as "I""

ten percent owner regulatory

"reportingPersons entry flags Saba Capital as "is_ten_percent_owner": 1"

Form 4/A regulatory

"content metadata identifies the filing form_type as "4/A""

Form 4/A is an amended filing that corrects or updates an earlier Form 4, the mandatory report that insiders (like company executives, directors, or large shareholders) must file when their ownership stakes change. Think of it as an edited receipt showing who bought or sold stock and when; investors use it to track insider confidence, detect potential conflicts, and spot trading patterns that might signal future company prospects.

FAQ

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

What insider activity did Saba Capital report in ECAT common stock?

Saba Capital reported selling ECAT common stock in two open-market transactions. It disposed of 259,382 shares on April 1, 2026 and 44,010 shares on April 2, 2026, while retaining a large remaining indirect position after the sales.

How many ECAT shares did Saba Capital sell according to this Form 4/A?

The filing shows total sales of 303,392 ECAT common shares. This includes 259,382 shares sold on April 1, 2026 and 44,010 shares sold on April 2, 2026 through open-market transactions, all reported as indirect ownership transactions.

At what prices did Saba Capital sell ECAT shares?

Saba Capital’s reported ECAT sales occurred around the high-$13 range. It sold 259,382 shares at $13.92 per share on April 1, 2026 and 44,010 shares at $13.87 per share on April 2, 2026 in open-market transactions.

How many ECAT shares did Saba Capital hold after these transactions?

After the reported sales, Saba Capital’s indirect holdings were 21,718,771 ECAT common shares. This post-transaction figure shows that, despite selling over three hundred thousand shares, it continued to report a substantial remaining ownership stake in the trust.

Is Saba Capital considered a major holder of ECAT based on this filing?

Yes, Saba Capital is identified as a more than ten percent owner of ECAT. Even after selling 303,392 shares in early April 2026, the firm reported indirect ownership of 21,718,771 common shares, indicating a large ongoing position in the trust.

Were Saba Capital’s ECAT transactions direct or indirect holdings?

All reported ECAT transactions in this filing are categorized as indirect ownership. The Form 4/A classifies the common stock as indirectly held, and both sales on April 1 and April 2, 2026 are marked with an indirect ownership code.

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Form 4 Insider Transactions: What Each Field Means →

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last)

(First)

(Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK

10174

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BlackRock ESG Capital Allocation Term Trust [ ECAT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)
04/03/2026

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	04/01/2026		S		259,382	D	$13.92	21,762,781	I	-
Common Stock	04/02/2026		S		44,010	D	$13.87	21,718,771	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	05/11/2026
	Boaz Weinstein	05/11/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR