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

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% owner of BlackRock ESG Capital Allocation Term Trust, reported open-market sales of the trust’s common stock. The firm sold 79,819 shares at $15.16 on February 27, 2026 and 126,687 shares at $15.21 on February 26, 2026, for total reported sales of 206,506 shares. After these indirect transactions, Saba Capital reported holding 23,368,551 shares of common stock.

Insider Trade Summary

Net Seller: 206,506 shares ($3,136,965)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 206,506 shs ($3.14M)

Type	Security	Shares	Price	Value
Sale	Common Stock	79,819	$15.16	$1.21M
Sale	Common Stock	126,687	$15.21	$1.93M

Holdings After Transaction: Common Stock — 23,368,551 shares (Indirect, -)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 03/02/2026 - 03:06 PM Learn about SEC filing dates

FAQ

What insider activity did Saba Capital report for ECAT?

Saba Capital Management, L.P. reported selling common shares of BlackRock ESG Capital Allocation Term Trust. The Form 4 shows two open-market sales totaling 206,506 shares, indicating a reduction of its indirectly held position in the fund.

How many ECAT shares did Saba Capital sell in this Form 4?

Saba Capital sold a total of 206,506 ECAT common shares. The transactions included 79,819 shares sold on February 27, 2026, and 126,687 shares sold on February 26, 2026, all reported as open-market sales at prices around $15 per share.

At what prices did Saba Capital sell ECAT shares?

Saba Capital’s reported ECAT sales were executed at prices of $15.16 and $15.21 per share. The 79,819-share sale was at $15.16 on February 27, 2026, and the 126,687-share sale was at $15.21 on February 26, 2026, both in open-market transactions.

How many ECAT shares does Saba Capital own after these sales?

After the reported transactions, Saba Capital reported indirect ownership of 23,368,551 ECAT common shares. This figure reflects the position following the 79,819-share sale on February 27, 2026, and represents its remaining stake as disclosed in the Form 4.

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

Yes, Saba Capital Management, L.P. is identified as a more than 10% owner of ECAT. The Form 4 confirms this status while detailing its open-market sales and the remaining indirect holdings of 23,368,551 common shares after the latest reported transaction.

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 NY 10174

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

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

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

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

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	02/26/2026		S		126,687	D	$15.21	23,448,370	I	-
Common Stock	02/27/2026		S		79,819	D	$15.16	23,368,551	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	03/02/2026
	Boaz Weinstein	03/02/2026
	** 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.