BlackRock ESG Term Trust holder Saba trims stake

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported selling 85,688 shares of Common Stock on 2026-07-20 in a transaction classified as an open market or private sale at $15.39 per share.

Accepted by SEC EDGAR 07/21/2026 - 05:15 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported selling 85,688 shares of Common Stock on 2026-07-20 in a transaction classified as an open market or private sale at $15.39 per share.

After this indirect sale, Saba Capital reports indirect ownership of 16,865,321 ECAT shares.

Insider Trade Summary

Net Seller: 85,688 shares

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 85,688 shs ($1.32M)

Type	Security	Shares	Price	Value
Sale	Common Stock	85,688	$15.39	$1.32M

Holdings After Transaction: Common Stock — 16,865,321 shares (Indirect, -)

Key Figures

Shares sold: 85,688 shares Sale price per share: $15.39 per share Shares owned after transaction: 16,865,321 shares +1 more

4 metrics

Shares sold 85,688 shares Common Stock sale on 2026-07-20

Sale price per share $15.39 per share Price for ECAT Common Stock sold on 2026-07-20

Shares owned after transaction 16,865,321 shares Indirect ECAT holdings reported after the sale

Net shares sold 85,688 shares Net-sell direction in transaction summary

Key Terms

ten percent owner, indirect ownership, open market or private transaction, non-derivative

4 terms

ten percent owner financial

"Reporting person is flagged as a ten percent owner of the issuer"

indirect ownership financial

"direct_or_indirect set to "I" indicates indirect ownership of the shares"

open market or private transaction financial

"transaction_code_description: Sale in open market or private transaction"

non-derivative financial

"security_title Common Stock is classified as a non-derivative holding"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Saba Capital report for ECAT?

Saba Capital reported a sale of ECAT common stock. On 2026-07-20, it disposed of 85,688 shares of BlackRock ESG Capital Allocation Term Trust in a transaction classified as an open market or private sale at $15.39 per share.

How many BlackRock ESG Capital Allocation Term Trust (ECAT) shares did Saba Capital sell?

Saba Capital sold 85,688 ECAT shares. The transaction involved non-derivative Common Stock and was reported as a disposition, contributing to a net-sell position of 85,688 shares according to the filing’s transaction summary data.

At what price were the ECAT shares sold by Saba Capital?

The ECAT shares were sold at $15.39 per share. This per-share price applies to the 85,688 Common Stock shares disposed of on 2026-07-20, categorized as a sale in an open market or private transaction in the Form 4 data.

How many ECAT shares does Saba Capital own after the reported sale?

Following the sale, Saba Capital reports indirect ownership of 16,865,321 ECAT shares. This figure reflects its remaining position in BlackRock ESG Capital Allocation Term Trust after disposing of 85,688 Common Stock shares in the reported transaction.

What is Saba Capital’s role in relation to ECAT in this Form 4?

Saba Capital Management, L.P. is identified as a ten percent owner of ECAT. It is not listed as a director or officer, but as a significant shareholder reporting changes in its indirect ownership of BlackRock ESG Capital Allocation Term Trust common shares.

Was the ECAT trade by Saba Capital a buy or a sell transaction?

The ECAT trade was a sell transaction. The Form 4 classifies it with transaction code “S” and a disposition flag, and the transaction summary shows a net-sell direction of 85,688 shares of BlackRock ESG Capital Allocation Term Trust Common Stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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)
07/20/2026

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	07/20/2026		S		85,688	D	$15.39	16,865,321	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	07/21/2026
	Boaz Weinstein	07/21/2026
	** 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)