Saba Capital trims ECAT stake with 188,125-share sale in open market

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two indirect open-market sales of common stock. On June 26, it sold 75,754 shares at $15.37 per share, followed by 112,371 shares at $15.542 per share on June 29. After these transactions, Saba Capital’s indirect holdings stood at 17,742,619 ECAT shares.

Insider Trade Summary

Net Seller: 188,125 shares ($2,910,809)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 188,125 shs ($2.91M)

Type	Security	Shares	Price	Value
Sale	Common Stock	112,371	$15.542	$1.75M
Sale	Common Stock	75,754	$15.37	$1.16M

Holdings After Transaction: Common Stock — 17,742,619 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold June 29: 112,371 shares at $15.542 Shares sold June 26: 75,754 shares at $15.37 Total shares sold: 188,125 shares +1 more

4 metrics

Shares sold June 29 112,371 shares at $15.542 Open-market sale of ECAT common stock

Shares sold June 26 75,754 shares at $15.37 Open-market sale of ECAT common stock

Total shares sold 188,125 shares Combined June 26 and June 29 ECAT sales

Holdings after transactions 17,742,619 shares Indirect ECAT common stock held following June 29 sale

Key Terms

open-market sale, indirect ownership, ten percent owner

3 terms

open-market sale financial

"transaction_action: "open-market sale" for each ECAT trade"

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.

indirect ownership financial

"ownership_type is reported as "indirect" with code "I""

ten percent owner financial

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/30/2026 - 05:22 PM Accepted by SEC EDGAR 06/30/2026 - 05:22 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)
06/26/2026

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	06/26/2026		S		75,754	D	$15.37	17,854,990	I	-
Common Stock	06/29/2026		S		112,371	D	$15.542	17,742,619	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: David Han	06/30/2026
	Boaz Weinstein	06/30/2026
	** 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 insider transactions did Saba Capital report for ECAT?

Saba Capital reported two indirect open-market sales of ECAT common stock. It sold 75,754 shares at $15.37 on June 26 and 112,371 shares at $15.542 on June 29, totaling 188,125 shares sold.

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

After the reported transactions, Saba Capital’s indirect holdings in ECAT common stock are 17,742,619 shares. This post-transaction figure comes from the most recent sale entry and shows the position remaining after the 188,125 shares were sold.

Were Saba Capital’s ECAT transactions open-market sales or private deals?

Both transactions were reported as open-market sales of ECAT common stock. The filing labels each as a “Sale in open market or private transaction,” with transaction code “S,” indicating standard disposal of shares rather than option exercises or gifts.

On what dates did Saba Capital sell ECAT shares and at what prices?

Saba Capital sold ECAT shares on June 26 and June 29. It sold 75,754 shares at $15.37 per share on June 26 and 112,371 shares at $15.542 per share on June 29, according to the Form 4 data.

Does Saba Capital hold ECAT shares directly or indirectly?

The ECAT shares in these transactions are reported as indirect holdings. The Form 4 indicates ownership type “indirect” with code “I,” meaning Saba Capital’s position is held through an entity or structure rather than as directly registered shares.