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

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported an open-market sale of 64,443 shares of common stock at $15.50 per share on June 22, 2026. After this transaction, Saba Capital indirectly holds 18,245,437 shares of ECAT common stock.

Insider Trade Summary

Net Seller: 64,443 shares ($998,867)

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role null

Sold 64,443 shs ($999K)

Type	Security	Shares	Price	Value
Sale	Common Stock	64,443	$15.50	$999K

Holdings After Transaction: Common Stock — 18,245,437 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold: 64,443 shares Sale price: $15.50 per share Shares held after sale: 18,245,437 shares +1 more

4 metrics

Shares sold 64,443 shares Open-market sale of ECAT common stock on June 22, 2026

Sale price $15.50 per share Price for the 64,443 ECAT shares sold

Shares held after sale 18,245,437 shares Indirect ECAT holdings following the reported transaction

Net shares sold 64,443 shares Net-sell direction in transaction summary

Key Terms

open-market sale, ten percent owner, indirectly holds, Form 4

4 terms

open-market sale financial

"reported an open-market sale of 64,443 shares 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., a ten percent owner of BlackRock ESG"

indirectly holds financial

"After this transaction, Saba Capital indirectly holds 18,245,437 shares"

Form 4 regulatory

"This open-market transaction was reported as a sale in the Form 4 filing"

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 06/23/2026 - 09:20 AM Accepted by SEC EDGAR 06/23/2026 - 09:20 AM 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)
06/22/2026

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	06/22/2026		S		64,443	D	$15.5	18,245,437	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	06/23/2026
	Boaz Weinstein	06/23/2026
	** 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 transaction did Saba Capital report for ECAT?

Saba Capital Management, L.P. reported an open-market sale of 64,443 shares of BlackRock ESG Capital Allocation Term Trust common stock. The sale occurred at $15.50 per share and was disclosed in a Form 4 insider filing.

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

Saba Capital sold 64,443 shares of ECAT common stock at $15.50 per share. This open-market transaction was reported as a sale under transaction code “S” in the Form 4 filing for June 22, 2026.

How many ECAT shares does Saba Capital hold after this sale?

Following the reported sale, Saba Capital holds 18,245,437 ECAT shares indirectly. This post-transaction balance shows the position remaining after selling 64,443 shares in the open market at $15.50 per share.

What does transaction code “S” mean in the ECAT Form 4 filing?

In this Form 4, transaction code “S” indicates a sale in an open-market or private transaction. For ECAT, it reflects Saba Capital’s disposition of 64,443 common shares at $15.50 per share on June 22, 2026.

Is Saba Capital considered a major holder of ECAT shares?

Yes. Saba Capital Management, L.P. is identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust. After the reported sale, it still indirectly holds 18,245,437 ECAT common shares according to the Form 4 filing.