Saba Capital trims stake in BlackRock ESG Capital Allocation (NYSE: ECAT)

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust, reported indirect open-market or private sales of common stock. On July 21, 2026 it sold 93,506 shares at $15.49 per share, and on July 22, 2026 it sold 79,000 shares at $15.44 per share, totaling 172,506 shares sold.

Insider Trade Summary

Net Seller: 172,506 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 172,506 shs ($2.67M)

Type	Security	Shares	Price	Value
Sale	Common Stock	79,000	$15.44	$1.22M
Sale	Common Stock	93,506	$15.49	$1.45M

Holdings After Transaction: Common Stock — 16,692,815 shares (Indirect, -)

Key Figures

Shares sold July 21, 2026: 93,506 shares Shares sold July 22, 2026: 79,000 shares Total shares sold: 172,506 shares +2 more

5 metrics

Shares sold July 21, 2026 93,506 shares Indirect sale of common stock at $15.49 per share

Shares sold July 22, 2026 79,000 shares Indirect sale of common stock at $15.44 per share

Total shares sold 172,506 shares Net shares sold across the reported non-derivative transactions

Sale price July 21, 2026 $15.49 per share Price for 93,506 indirectly held common shares sold

Sale price July 22, 2026 $15.44 per share Price for 79,000 indirectly held common shares sold

Key Terms

ten percent owner, indirect ownership, non-derivative

3 terms

ten percent owner regulatory

"Saba Capital Management, L.P. is reported as a ten percent owner"

indirect ownership regulatory

"Transactions are coded with indirect ownership of the common stock"

non-derivative financial

"Each reported sale is classified as a non-derivative transaction"

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/23/2026 - 01:38 PM Accepted by SEC EDGAR 07/23/2026 - 01:37 PM Learn about SEC filing dates

FAQ

What insider activity did Saba Capital report for ECAT?

Saba Capital Management, L.P. reported indirect sales totaling 172,506 ECAT common shares over two days in July 2026. The shares of BlackRock ESG Capital Allocation Term Trust were sold in open-market or private transactions at $15.49 and $15.44 per share.

How many ECAT shares did Saba Capital sell on each transaction date?

On July 21, 2026, Saba Capital sold 93,506 ECAT common shares at $15.49 per share. On July 22, 2026, it sold an additional 79,000 shares at $15.44 per share, all reported as indirect transactions.

Were Saba Capital’s ECAT share sales direct or indirect holdings?

Both reported ECAT transactions were classified as indirect sales of common stock. The ownership code was reported as "I" for indirect, indicating the shares are held through an entity or structure associated with Saba Capital Management, L.P.

Is Saba Capital a significant holder of ECAT?

Saba Capital Management, L.P. is identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT. This status means it holds, or has been reported as holding, at least 10% of the trust’s outstanding shares, triggering large-holder reporting.

Were Saba Capital’s ECAT sales under a Rule 10b5-1 trading plan?

The Rule 10b5-1 trading plan checkbox for these ECAT transactions was not checked. The data do not indicate that the July 2026 sales of 172,506 common shares were executed pursuant to an affirmed Rule 10b5-1 trading plan.

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 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)
07/21/2026

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)

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/21/2026		S		93,506	D	$15.49	16,771,815	I	-
Common Stock	07/22/2026		S		79,000	D	$15.44	16,692,815	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	07/23/2026
	Boaz Weinstein	07/23/2026
	** 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)