Saba Capital trims stake in BlackRock ESG Capital Allocation Term Trust (ECAT)

Rhea-AI Filing Summary

Saba Capital Management, L.P., a 10% owner of BlackRock ESG Capital Allocation Term Trust, reported open-market sales of a total of 52,525 shares of common stock. The sales occurred on July 2 and July 6, 2026 at prices around $15.83–$15.93 per share. After these transactions, Saba Capital indirectly held 17,466,103 ECAT shares.

Insider Trade Summary

Net Seller: 52,525 shares ($836,177)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 52,525 shs ($836K)

Type	Security	Shares	Price	Value
Sale	Common Stock	47,062	$15.93	$750K
Sale	Common Stock	5,463	$15.83	$86K

Holdings After Transaction: Common Stock — 17,466,103 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold July 6, 2026: 47,062 shares Shares sold July 2, 2026: 5,463 shares Total shares sold: 52,525 shares +3 more

6 metrics

Shares sold July 6, 2026 47,062 shares Open-market sale at $15.93 per share

Shares sold July 2, 2026 5,463 shares Open-market sale at $15.83 per share

Total shares sold 52,525 shares Net-sell across reported transactions

Remaining holdings 17,466,103 shares Indirect ECAT common shares after July 6, 2026 sale

Sale price July 6, 2026 $15.93/share Common stock open-market sale

Sale price July 2, 2026 $15.83/share Common stock open-market sale

Key Terms

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

""is_ten_percent_owner": 1"

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.

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 07/07/2026 - 01:16 PM Accepted by SEC EDGAR 07/07/2026 - 01:15 PM Learn about SEC filing dates

FAQ

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

Saba Capital Management reported selling 52,525 shares of BlackRock ESG Capital Allocation Term Trust common stock. These were open-market sales on July 2 and July 6, 2026, and Saba Capital remained an indirect holder of 17,466,103 ECAT shares after the transactions.

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

Saba Capital Management sold 52,525 ECAT common shares in total. It sold 5,463 shares at $15.83 per share on July 2, 2026, and 47,062 shares at $15.93 per share on July 6, 2026, in open-market transactions.

How many ECAT shares does Saba Capital Management hold after these sales?

After the reported sales, Saba Capital Management indirectly holds 17,466,103 shares of BlackRock ESG Capital Allocation Term Trust. This figure comes from the Form 4 entry tied to the July 6, 2026 transaction and reflects its remaining indirect ownership position in ECAT.

Were the ECAT transactions by Saba Capital Management buys or sells?

All reported ECAT transactions were sales. The Form 4 shows two open-market sale transactions, coded “S,” totaling 52,525 common shares, with zero purchase transactions reported. The transactionSummary also characterizes the overall activity as a net-sell of 52,525 shares.

Is Saba Capital Management a significant owner of BlackRock ESG Capital Allocation Term Trust?

Yes. Saba Capital Management is identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust. This status is indicated in the Form 4 reporting-person details and means it holds at least ten percent of the issuer’s outstanding shares.

Were any derivative securities involved in Saba Capital’s ECAT Form 4 filing?

No derivative securities were reported in this filing. Both transactions involve non-derivative common stock, and the derivativeSummary section of the data is empty, indicating no options, warrants, or other derivatives were included in these disclosures.

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)
07/02/2026

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	07/02/2026		S		5,463	D	$15.83	17,513,165	I	-
Common Stock	07/06/2026		S		47,062	D	$15.93	17,466,103	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	07/07/2026
	Boaz Weinstein	07/07/2026
	** 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)