Saba Capital (ECAT) trims position with 111,432-share open-market sale

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust, reported an open-market sale of 111,432 shares of Common Stock at $15.40 per share on June 25, 2026. After this transaction, Saba’s indirect holdings in ECAT total 17,930,744 shares, so the sale represents a small portion of its overall position.

Insider Trade Summary

Net Seller: 111,432 shares ($1,716,053)

Net Sell 1 txn

Insider Saba Capital Management, L.P.

Role null

Sold 111,432 shs ($1.72M)

Type	Security	Shares	Price	Value
Sale	Common Stock	111,432	$15.40	$1.72M

Holdings After Transaction: Common Stock — 17,930,744 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold: 111,432 shares Sale price per share: $15.40 per share Shares held after transaction: 17,930,744 shares +1 more

4 metrics

Shares sold 111,432 shares Open-market sale of ECAT common stock on June 25, 2026

Sale price per share $15.40 per share Price for ECAT shares sold by Saba Capital

Shares held after transaction 17,930,744 shares Saba Capital’s indirect ECAT holdings following the sale

Net shares sold 111,432 shares Net-sell direction from transaction summary

Key Terms

open-market sale, ten percent owner, indirect ownership

3 terms

open-market sale financial

"transaction_action": "open-market sale""

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

""is_ten_percent_owner": 1"

indirect ownership financial

""direct_or_indirect": "I""

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/26/2026 - 02:13 PM Accepted by SEC EDGAR 06/26/2026 - 02:13 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)
06/25/2026

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	06/25/2026		S		111,432	D	$15.4	17,930,744	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	06/26/2026
	Boaz Weinstein	06/26/2026
	** 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 Management report in this ECAT Form 4 filing?

Saba Capital Management reported an open-market sale of 111,432 shares of BlackRock ESG Capital Allocation Term Trust common stock. The sale occurred at a price of $15.40 per share, reflecting routine portfolio activity by a large existing holder.

How many ECAT shares does Saba Capital Management hold after the sale?

After the reported transaction, Saba Capital Management holds 17,930,744 shares of ECAT common stock indirectly. This indicates that the 111,432 shares sold represent a relatively small fraction of Saba’s total reported position in the trust.

Was the ECAT transaction by Saba Capital a purchase or a sale?

The transaction was a sale. Saba Capital Management executed an open-market sale of 111,432 ECAT common shares at $15.40 per share, as indicated by transaction code “S” and the transaction description noting a sale in the open market.

Is Saba Capital Management a major holder of BlackRock ESG Capital Allocation Term Trust?

Yes. Saba Capital Management is identified as a ten percent owner of BlackRock ESG Capital Allocation Term Trust. Following the June 25, 2026 sale, it still indirectly holds 17,930,744 ECAT shares, underscoring its status as a significant shareholder.

What does indirect ownership mean in Saba Capital’s ECAT Form 4?

Indirect ownership means the ECAT shares are held through an entity or structure associated with Saba Capital, rather than directly. The Form 4 marks ownership as indirect with code “I,” indicating Saba’s interest is through related investment vehicles or accounts.