Saba Capital cuts BlackRock ESG Capital (NYSE: ECAT) stake by 159,289 shares

Rhea-AI Filing Summary

Saba Capital Management, L.P., a 10% owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two open-market sales of common stock. It sold 113,401 shares on February 17 at $15.06 per share and 45,888 shares on February 18 at $15.11 per share, totaling 159,289 shares. After these indirect transactions, it reported owning 23,744,358 common shares.

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

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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)
02/17/2026

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	02/17/2026		S		113,401	D	$15.06	23,790,246	I	-
Common Stock	02/18/2026		S		45,888	D	$15.11	23,744,358	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	02/19/2026
	Boaz Weinstein	02/19/2026
	** 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.

FAQ

What did Saba Capital report in this ECAT Form 4 filing?

Saba Capital Management, L.P. reported selling a total of 159,289 ECAT common shares in open-market transactions. These trades were disclosed as indirect ownership changes in BlackRock ESG Capital Allocation Term Trust common stock.

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

Saba Capital sold ECAT common shares on February 17 and February 18, 2026. It sold shares at an average price of $15.06 on February 17 and $15.11 on February 18 in open-market transactions.

How many ECAT shares did Saba Capital sell in each transaction?

Saba Capital sold 113,401 ECAT common shares on February 17, 2026, and 45,888 shares on February 18, 2026. Together, these transactions represent total reported sales of 159,289 common shares of BlackRock ESG Capital Allocation Term Trust.

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

Following the reported sales, Saba Capital disclosed indirect ownership of 23,744,358 ECAT common shares. This figure reflects its position after selling a total of 159,289 shares across the two open-market transactions reported in the filing.

Is Saba Capital considered a major holder of ECAT shares?

Yes. The filing identifies Saba Capital Management, L.P. as a 10% owner of BlackRock ESG Capital Allocation Term Trust. This status means it is a significant shareholder subject to ongoing reporting requirements for its transactions in ECAT stock.

What type of transactions did Saba Capital execute in ECAT stock?

The filing describes the activity as open-market sales of common stock. Both transactions are coded as “S,” indicating sales in open-market or private transactions, and are reported as changes in indirect ownership of ECAT shares.