Saba Capital (ECAT) logs open-market sale while retaining 18.8M shares

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 an open-market sale of common shares. On June 8, 2026, it sold 33,076 shares at an average price of $15.42 per share.

After this transaction, Saba Capital’s indirect holdings in ECAT common stock were reported at 18,832,117 shares. The filing shows a single sale transaction with no related option exercises or derivative positions reported.

Insights

Saba Capital reported a relatively small open-market sale while retaining a large ECAT position.

Saba Capital Management, L.P., identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), sold 33,076 common shares at $15.42 each in an open-market transaction on June 8, 2026. The transaction is reported as indirectly held stock.

Following the sale, Saba Capital’s reported holdings stood at 18,832,117 shares of ECAT common stock. Given the size of the remaining position relative to the shares sold and the absence of derivative exercises or restructuring codes, this looks like a routine portfolio adjustment rather than a thesis-changing move.

Insider Trade Summary

Net Seller: 33,076 shares ($510,032)

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role null

Sold 33,076 shs ($510K)

Type	Security	Shares	Price	Value
Sale	Common Stock	33,076	$15.42	$510K

Holdings After Transaction: Common Stock — 18,832,117 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold: 33,076 shares Average sale price: $15.42 per share Shares held after transaction: 18,832,117 shares +1 more

4 metrics

Shares sold 33,076 shares Open-market sale on June 8, 2026

Average sale price $15.42 per share Common stock transaction price

Shares held after transaction 18,832,117 shares Indirect ECAT holdings after sale

Net shares sold 33,076 shares Net change in ECAT position from this Form 4

Key Terms

open-market sale, ten percent owner, indirect ownership, Form 4

4 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""

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.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/09/2026 - 11:43 AM Accepted by SEC EDGAR 06/09/2026 - 11:42 AM

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)
06/08/2026

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	06/08/2026		S		33,076	D	$15.42	18,832,117	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	06/09/2026
	Boaz Weinstein	06/09/2026
	** 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

FAQ

What did Saba Capital Management report in its Form 4 for ECAT?

Saba Capital Management reported selling 33,076 shares of BlackRock ESG Capital Allocation Term Trust (ECAT) common stock. The shares were sold in an open-market transaction at an average price of $15.42 per share, with holdings updated after the sale.

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

Saba Capital sold 33,076 ECAT common shares at an average price of $15.42 per share. This was a single reported open-market sale transaction, with no associated option exercises or derivative trades disclosed in the filing.

How many ECAT shares does Saba Capital hold after this transaction?

After the reported sale, Saba Capital’s indirect holdings in ECAT common stock total 18,832,117 shares. This post-transaction figure comes directly from the Form 4 and reflects the position remaining following the 33,076-share open-market sale.

Was Saba Capital’s ECAT transaction a buy or a sell?

The Form 4 shows a sell transaction. Saba Capital executed an open-market sale of 33,076 ECAT common shares, coded as “S” for sale, with an average transaction price of $15.42 per share on June 8, 2026.

Is Saba Capital’s ECAT position held directly or indirectly?

The ECAT shares in this Form 4 are reported as held indirectly by Saba Capital. The transaction details show ownership coded as indirect, and the total of 18,832,117 shares after the sale reflects this indirect ownership classification.