Saba Capital reduces BlackRock ESG Capital (NYSE: ECAT) holdings

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust, reported open-market sales of 203,261 shares of common stock at prices of $15.25 and $15.37 per share, and now indirectly holds 18,042,176 shares following these transactions.

Insider Trade Summary

Net Seller: 203,261 shares ($3,110,694)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 203,261 shs ($3.11M)

Type	Security	Shares	Price	Value
Sale	Common Stock	111,896	$15.25	$1.71M
Sale	Common Stock	91,365	$15.37	$1.40M

Holdings After Transaction: Common Stock — 18,042,176 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold 2026-06-24: 111,896 shares Shares sold 2026-06-23: 91,365 shares Total shares sold: 203,261 shares +2 more

5 metrics

Shares sold 2026-06-24 111,896 shares Open-market sale of ECAT common stock at $15.25 per share

Shares sold 2026-06-23 91,365 shares Open-market sale of ECAT common stock at $15.37 per share

Total shares sold 203,261 shares Aggregate of reported ECAT common stock sales

Holding after transactions 18,042,176 shares Indirect ECAT common stock position following sales

Sale code Code S Sale in open market or private transaction

Key Terms

open-market sale, ten percent owner, non-derivative, indirect ownership

4 terms

open-market sale financial

"transaction_action is described as an open-market sale of common stock"

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 financial

"Saba Capital Management, L.P. is listed as a ten percent owner"

non-derivative financial

"Each ECAT transaction is categorized as non-derivative common stock"

indirect ownership financial

"ownership_type is marked as indirect for the reported holdings"

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/25/2026 - 12:48 PM Accepted by SEC EDGAR 06/25/2026 - 12:48 PM Learn about SEC filing dates

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)
06/23/2026

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	06/23/2026		S		91,365	D	$15.37	18,154,072	I	-
Common Stock	06/24/2026		S		111,896	D	$15.25	18,042,176	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	06/25/2026
	Boaz Weinstein	06/25/2026
	** 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)

FAQ

What did Saba Capital report in the latest ECAT Form 4 filing?

Saba Capital reported selling 203,261 shares of BlackRock ESG Capital Allocation Term Trust common stock. The transactions were open-market sales and left Saba Capital with 18,042,176 shares held indirectly after the reported activity.

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

Saba Capital sold 111,896 ECAT common shares at $15.25 per share and 91,365 shares at $15.37 per share. Both transactions were reported as open-market sales of non-derivative common stock.

How many BlackRock ESG Capital Allocation (ECAT) shares does Saba Capital hold after these sales?

After the reported sales, Saba Capital indirectly holds 18,042,176 shares of ECAT common stock. This post-transaction holding reflects shares remaining following the open-market dispositions disclosed in the Form 4 filing.

Were derivatives involved in Saba Capital’s recent ECAT transactions?

No, the reported ECAT transactions involve only non-derivative common stock. The filing shows sales coded as “S” for open-market or private transactions, and the derivative position summary is empty, indicating no related derivative exercises or conversions.

Is Saba Capital a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT)?

Yes, Saba Capital 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 alongside the disclosed open-market sales of ECAT common stock.