Saba Capital sells 164,336 ECAT shares

Saba Capital Management, L.P., a more than 10% owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported open-market sales of fund common stock.

Rhea-AI Filing Summary

Saba Capital Management, L.P., a more than 10% owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported open-market sales of fund common stock. It sold 109,941 shares on March 12, 2026 at an average price of $14.52 per share and 54,395 shares on March 11, 2026 at an average price of $14.67 per share. After these transactions, Saba Capital’s indirect holdings stood at 22,485,085 common shares.

Insider Trade Summary

Net Seller: 164,336 shares

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role 10% Owner

Sold 164,336 shs ($2.39M)

Type	Security	Shares	Price	Value
Sale	Common Stock	109,941	$14.52	$1.60M
Sale	Common Stock	54,395	$14.67	$798K

Holdings After Transaction: Common Stock — 22,485,085 shares (Indirect, -)

FAQ

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What insider activity did Saba Capital report for ECAT?

Saba Capital reported selling ECAT common stock in the open market. It sold 109,941 shares on March 12, 2026 and 54,395 shares on March 11, 2026, reflecting routine portfolio activity by a major holder.

How many ECAT shares did Saba Capital sell in this Form 4?

Saba Capital sold a total of 164,336 ECAT common shares across two transactions. The sales were open-market trades at average prices of $14.52 and $14.67 per share, as disclosed in the Form 4 filing.

At what prices did Saba Capital sell its ECAT shares?

Saba Capital sold ECAT shares at average prices of $14.52 and $14.67. The 109,941-share sale on March 12, 2026 priced at $14.52, and the 54,395-share sale on March 11, 2026 priced at $14.67 per share.

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

After these sales, Saba Capital’s indirect holdings total 22,485,085 ECAT common shares. This figure reflects the position reported following the March 12, 2026 transaction in the Form 4, indicating it remains a large shareholder.

Are Saba Capital’s ECAT transactions classified as open-market sales?

Yes. Both ECAT transactions are coded “S” and described as sales in open market or private transactions. The Form 4 labels them as open-market sales of common stock, rather than option exercises, gifts, or tax-related dispositions.

Does Saba Capital hold ECAT shares directly or indirectly?

The filing classifies Saba Capital’s ECAT ownership as indirect. Each reported transaction is marked with indirect ownership, and the 22,485,085 shares held after the latest sale are also described as indirectly owned common stock.

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

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Accepted by SEC EDGAR 03/13/2026 - 11:40 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 NY 10174

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
03/11/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	03/11/2026		S		54,395	D	$14.67	22,595,026	I	-
Common Stock	03/12/2026		S		109,941	D	$14.52	22,485,085	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	03/13/2026
	Boaz Weinstein	03/13/2026
	** 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.