Saba Capital sells 40,616 BlackRock ESG Capital shares (NYSE: ECAT)

Q: What did Saba Capital Management do in this ECAT Form 4 filing?

Saba Capital Management reported selling ECAT shares. The filing shows two open-market sales totaling 40,616 common shares, reported as indirect holdings, while Saba Capital continues to hold 17,425,487 ECAT shares after the transactions.

Q: How many ECAT shares did Saba Capital sell and at what prices?

Saba Capital sold 40,616 ECAT common shares. It sold 39,219 shares at $15.58 per share on July 8, 2026, and 1,397 shares at $15.78 per share on July 7, 2026, in open-market transactions.

Q: Were Saba Capital’s ECAT transactions open-market sales?

Yes, both ECAT transactions were open-market sales. The Form 4 identifies each trade with transaction code “S” and describes them as sales in open market or private transactions, consistent with typical open-market selling activity.

Q: Is Saba Capital a ten percent owner of BlackRock ESG Capital Allocation Term Trust?

Yes, Saba Capital is identified as a ten percent owner. The Form 4 designates Saba Capital Management, L.P. as a ten percent owner of BlackRock ESG Capital Allocation Term Trust, reflecting a significant stake in ECAT common stock.

Q: Are Saba Capital’s ECAT holdings direct or indirect after these sales?

The reported ECAT holdings are indirect. The Form 4 classifies both transactions with ownership code “I” for indirect ownership, and the 17,425,487 shares reported after the trades are also indicated as indirectly held.

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported open-market sales of common stock. It sold 39,219 shares at $15.58 per share on July 8, 2026 and 1,397 shares at $15.78 per share on July 7, 2026, both reported as indirect ownership. After these transactions, Saba Capital indirectly holds 17,425,487 ECAT common shares.

Insider Trade Summary

Net Seller: 40,616 shares ($633,077)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 40,616 shs ($633K)

Type	Security	Shares	Price	Value
Sale	Common Stock	39,219	$15.58	$611K
Sale	Common Stock	1,397	$15.78	$22K

Holdings After Transaction: Common Stock — 17,425,487 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold 2026-07-08: 39,219 shares at $15.58 Shares sold 2026-07-07: 1,397 shares at $15.78 Total shares sold: 40,616 shares +2 more

5 metrics

Shares sold 2026-07-08 39,219 shares at $15.58 Open-market sale of ECAT common stock on July 8, 2026

Shares sold 2026-07-07 1,397 shares at $15.78 Open-market sale of ECAT common stock on July 7, 2026

Total shares sold 40,616 shares Aggregate ECAT shares sold across reported transactions

Shares held after transactions 17,425,487 shares Indirect ECAT common stock holdings following sales

Transaction code S Sale in open market or private transaction

Key Terms

open-market sale, ten percent owner, indirect ownership

3 terms

open-market sale financial

"transaction_action is described as an open-market sale of common stock"

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

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

indirect ownership financial

"transactions are reported with ownership code I indicating indirect ownership"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/09/2026 - 04:15 PM Accepted by SEC EDGAR 07/09/2026 - 04:15 PM

FAQ

What did Saba Capital Management do in this ECAT Form 4 filing?

Saba Capital Management reported selling ECAT shares. The filing shows two open-market sales totaling 40,616 common shares, reported as indirect holdings, while Saba Capital continues to hold 17,425,487 ECAT shares after the transactions.

How many ECAT shares did Saba Capital sell and at what prices?

Saba Capital sold 40,616 ECAT common shares. It sold 39,219 shares at $15.58 per share on July 8, 2026, and 1,397 shares at $15.78 per share on July 7, 2026, in open-market transactions.

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

After the sales, Saba Capital holds 17,425,487 ECAT shares. This post-transaction figure reflects its remaining indirect ownership of BlackRock ESG Capital Allocation Term Trust common stock reported in the Form 4.

Were Saba Capital’s ECAT transactions open-market sales?

Yes, both ECAT transactions were open-market sales. The Form 4 identifies each trade with transaction code “S” and describes them as sales in open market or private transactions, consistent with typical open-market selling activity.

Is Saba Capital a ten percent owner of BlackRock ESG Capital Allocation Term Trust?

Yes, Saba Capital is identified as a ten percent owner. The Form 4 designates Saba Capital Management, L.P. as a ten percent owner of BlackRock ESG Capital Allocation Term Trust, reflecting a significant stake in ECAT common stock.

Are Saba Capital’s ECAT holdings direct or indirect after these sales?

The reported ECAT holdings are indirect. The Form 4 classifies both transactions with ownership code “I” for indirect ownership, and the 17,425,487 shares reported after the trades are also indicated as indirectly held.

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)
07/07/2026

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)
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	07/07/2026		S		1,397	D	$15.78	17,464,706	I	-
Common Stock	07/08/2026		S		39,219	D	$15.58	17,425,487	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	07/09/2026
	Boaz Weinstein	07/09/2026
	** 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