Saba Capital trims BlackRock ESG Capital (NYSE: ECAT) stake with sales

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust, reported two open-market sales of the trust’s common stock. On March 27, 2026, it sold 88,419 shares at $13.59 per share, and on March 26, 2026, it sold 37,606 shares at $13.87 per share. After these indirect sales, Saba Capital reported owning 22,284,508 common shares.

Insider Trade Summary

Net Seller: 126,025 shares ($1,723,209)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 126,025 shs ($1.72M)

Type	Security	Shares	Price	Value
Sale	Common Stock	88,419	$13.59	$1.20M
Sale	Common Stock	37,606	$13.87	$522K

Holdings After Transaction: Common Stock — 22,284,508 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold 2026-03-27: 88,419 shares at $13.59 Shares sold 2026-03-26: 37,606 shares at $13.87 Total shares sold: 126,025 shares +2 more

5 metrics

Shares sold 2026-03-27 88,419 shares at $13.59 Open-market sale of ECAT common stock on March 27, 2026

Shares sold 2026-03-26 37,606 shares at $13.87 Open-market sale of ECAT common stock on March 26, 2026

Total shares sold 126,025 shares Aggregate ECAT common shares sold across both reported transactions

Holdings after trades 22,284,508 shares Indirect ECAT common stock held after March 27, 2026 sale

Net share direction 126,025 net shares sold Net-sell activity from the transaction summary

Key Terms

open-market sale, ten percent owner, indirect ownership, Common Stock, +1 more

5 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 financial

""is_ten_percent_owner": 1"

indirect ownership financial

""ownership_type": "indirect""

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Form 4 Insider Transactions: What Each Field Means →

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)
03/26/2026

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	03/26/2026		S		37,606	D	$13.87	22,372,927	I	-
Common Stock	03/27/2026		S		88,419	D	$13.59	22,284,508	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	03/30/2026
	Boaz Weinstein	03/30/2026
	** 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)

FAQ

What insider activity did Saba Capital report for ECAT?

Saba Capital reported selling ECAT common stock in two open-market transactions. It sold 88,419 shares on March 27, 2026 at $13.59 and 37,606 shares on March 26, 2026 at $13.87, according to the Form 4 disclosure.

How many ECAT shares did Saba Capital sell in total?

Saba Capital sold a total of 126,025 ECAT common shares across two days. The filing shows 88,419 shares sold at $13.59 on March 27, 2026 and 37,606 shares sold at $13.87 on March 26, 2026 in open-market transactions.

What was Saba Capital’s ECAT stake after these sales?

After the reported sales, Saba Capital’s indirect holdings in ECAT stood at 22,284,508 common shares. This figure comes directly from the Form 4 entry labeled "shares following transaction" for the March 27, 2026 open-market sale.

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

Yes. The Form 4 identifies both trades as open-market sales. Each transaction is coded "S" with the description "Sale in open market or private transaction," and includes specific per-share prices of $13.59 and $13.87 for the ECAT common stock.

Does Saba Capital hold ECAT shares directly or indirectly?

The Form 4 classifies Saba Capital’s ECAT holdings as indirect. Each transaction lists ownership as "I" for indirect, meaning the shares are not recorded as directly owned by the reporting person, although no further ownership structure detail is provided in the excerpt.