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

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two open-market sales of common stock. It sold 28,265 shares on June 9, 2026 at $15.33 per share and 116,920 shares on June 10, 2026 at $15.23 per share, for a total of 145,185 shares sold. After these indirect transactions, Saba Capital reported holding 18,686,932 ECAT shares.

Insider Trade Summary

Net Seller: 145,185 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 145,185 shs ($2.21M)

Type	Security	Shares	Price	Value
Sale	Common Stock	116,920	$15.23	$1.78M
Sale	Common Stock	28,265	$15.33	$433K

Holdings After Transaction: Common Stock — 18,686,932 shares (Indirect, -)

Key Figures

Total shares sold: 145,185 shares Sale on June 10, 2026: 116,920 shares at $15.23/share Sale on June 9, 2026: 28,265 shares at $15.33/share +1 more

4 metrics

Total shares sold 145,185 shares Net ECAT common shares sold across two open-market transactions

Sale on June 10, 2026 116,920 shares at $15.23/share Open-market sale of ECAT common stock

Sale on June 9, 2026 28,265 shares at $15.33/share Open-market sale of ECAT common stock

Shares held after latest sale 18,686,932 shares Indirect ECAT common stock holdings after June 10, 2026 transaction

Key Terms

open-market sale, ten percent owner, indirect ownership

3 terms

open-market sale financial

"transaction_action: "open-market sale""

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.

ten percent owner regulatory

"is_ten_percent_owner: 1"

indirect ownership financial

"ownership_type: "indirect""

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 06/11/2026 - 10:47 AM Accepted by SEC EDGAR 06/11/2026 - 10:46 AM Learn about SEC filing dates

FAQ

What insider activity did Saba Capital report for ECAT?

Saba Capital reported open-market sales of 145,185 ECAT common shares over two days. These transactions reduced its indirect holdings but left a large remaining position disclosed in the filing.

On what dates did Saba Capital sell ECAT shares?

Saba Capital sold ECAT shares on June 9, 2026 and June 10, 2026. Each date reflects a separate open-market sale of common stock at different average prices per share.

How many ECAT shares did Saba Capital sell on each day?

Saba Capital sold 28,265 ECAT shares on June 9, 2026 and 116,920 shares on June 10, 2026. Together, the transactions total 145,185 common shares sold.

What prices did Saba Capital receive for the ECAT share sales?

The filing shows average sale prices of $15.33 per share on June 9, 2026 and $15.23 per share on June 10, 2026. Both transactions were reported as open-market sales of ECAT common stock.

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

After the June 10, 2026 transaction, Saba Capital reported indirect ownership of 18,686,932 ECAT shares. This figure reflects its position following the most recent disclosed sale of common stock.

Is Saba Capital a major holder of BlackRock ESG Capital Allocation Term Trust (ECAT)?

Yes. Saba Capital is identified as a ten percent owner of ECAT in the Form 4. This status means it holds at least ten percent of the trust’s registered class of securities.

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)
06/09/2026

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	06/09/2026		S		28,265	D	$15.33	18,803,852	I	-
Common Stock	06/10/2026		S		116,920	D	$15.23	18,686,932	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	06/11/2026
	Boaz Weinstein	06/11/2026
	** 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)