Saba Capital trims BlackRock ESG Capital (ECAT) stake by 94,153 shares

Filing Impact

(Very High)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust, reported two open-market sales of the trust’s common stock. It sold 34,797 shares on February 24, 2026 at an average price of $15.09 per share and 59,356 shares on February 25, 2026 at an average price of $15.27 per share.

After these transactions, Saba Capital indirectly held 23,575,057 shares of common stock, reflecting a net sale of 94,153 shares across the two days.

Insider Trade Summary

Net Seller: 94,153 shares ($1,431,453)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 94,153 shs ($1.43M)

Type	Security	Shares	Price	Value
Sale	Common Stock	59,356	$15.27	$906K
Sale	Common Stock	34,797	$15.09	$525K

Holdings After Transaction: Common Stock — 23,575,057 shares (Indirect, -)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 02/26/2026 - 03:02 PM

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)

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)
02/24/2026

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)
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	02/24/2026		S		34,797	D	$15.09	23,634,413	I	-
Common Stock	02/25/2026		S		59,356	D	$15.27	23,575,057	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	02/26/2026
	Boaz Weinstein	02/26/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Saba Capital report for ECAT?

Saba Capital reported two open-market sales of BlackRock ESG Capital Allocation Term Trust common stock, totaling 94,153 shares. The trades occurred on February 24 and 25, 2026 at average prices of $15.09 and $15.27 per share, respectively.

How many ECAT shares did Saba Capital sell on February 24, 2026?

On February 24, 2026, Saba Capital sold 34,797 shares of BlackRock ESG Capital Allocation Term Trust common stock. These shares were sold in open-market transactions at an average price of $15.09 per share, according to the Form 4 insider trading report.

What was the size and price of Saba Capital’s ECAT sale on February 25, 2026?

On February 25, 2026, Saba Capital sold 59,356 shares of BlackRock ESG Capital Allocation Term Trust common stock. The Form 4 states these shares were sold in open-market trades at an average price of $15.27 per share.

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

Following the reported sales, Saba Capital indirectly owns 23,575,057 shares of BlackRock ESG Capital Allocation Term Trust common stock. This post-transaction balance reflects the net sale of 94,153 shares over the two trading days disclosed.

Are Saba Capital’s ECAT transactions classified as buys or sells?

Both reported transactions are classified as sales of BlackRock ESG Capital Allocation Term Trust common stock. The Form 4 lists transaction code “S,” indicating open-market or private sale, with no purchases or acquisitions disclosed in this particular filing.

Is Saba Capital a major holder of ECAT shares?

Yes. The Form 4 identifies Saba Capital Management, L.P. as a more than ten percent owner of BlackRock ESG Capital Allocation Term Trust. Even after selling 94,153 shares, it still indirectly holds 23,575,057 common shares, indicating a substantial position.