BlackRock TCP Capital: Saba group reports 7.14% stake

Q: How much was paid to acquire the reported TCPC shares?

The reporting persons stated that approximately $24,194,242 was paid to acquire the reported common shares. They said the funds came from investor subscription proceeds and capital appreciation, as well as margin-account borrowings made in the ordinary course.

The reported position is tied to approximately $24,194,242 paid to acquire the common shares.

Available on EDGAR 11/06/2026 - 08:27 AM EST Accepted by SEC EDGAR 11/06/2026 - 08:26 AM EST

Filing Impact

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Filing Sentiment

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Form Type

SCHEDULE 13D/A

Rhea-AI Filing Summary

BlackRock TCP Capital Corp. (TCPC) is the subject of a joint beneficial-ownership report by Saba Capital Management, L.P., its general partner Saba Capital Management GP, LLC, and Boaz R. Weinstein, managing member of the general partner. They report shared voting and dispositive power over 5,986,934 common shares, representing 7.14% of the class. The percentage is based on 83,902,775 shares outstanding as of November 5, 2026.

The reporting persons state that approximately $24,194,242 was paid to acquire the reported shares, using investor subscription proceeds, capital appreciation and margin-account borrowings made in the ordinary course. They state that trades from the October 14, 2026 filing through the market open on the amendment’s filing date were effected in the open market. Funds and accounts advised by Saba Capital have the right to receive dividends and sale proceeds from the shares.

Filing Explained

Saba says it cannot determine how much, if any, of the reported share purchases was margin-financed because other securities were held in the margin accounts; positions in those accounts secure debit balances.

Key Figures

Common shares beneficially owned: 5,986,934 shares Class ownership: 7.14% Shares outstanding: 83,902,775 shares +1 more

4 metrics

Common shares beneficially owned 5,986,934 shares Jointly reported by the reporting persons

Class ownership 7.14% Based on shares outstanding as of November 5, 2026

Shares outstanding 83,902,775 shares As of November 5, 2026

Amount paid to acquire reported shares Approximately $24,194,242 Common shares reported by the reporting persons

Key Terms

beneficially owned, Shared Voting Power, Shared Dispositive Power, margin account borrowings

4 terms

beneficially owned regulatory

"Aggregate amount beneficially owned by each reporting person"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared Voting Power regulatory

"Shared Voting Power 5,986,934.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 5,986,934.00"

margin account borrowings financial

"margin account borrowings made in the ordinary course of business"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many TCPC shares did the reporting persons report owning?

Saba Capital Management, L.P., Saba Capital Management GP, LLC, and Boaz R. Weinstein jointly reported beneficial ownership of 5,986,934 shares, equal to 7.14% of the class. The percentage is based on 83,902,775 shares outstanding as of November 5, 2026.

How much was paid to acquire the reported TCPC shares?

The reporting persons stated that approximately $24,194,242 was paid to acquire the reported common shares. They said the funds came from investor subscription proceeds and capital appreciation, as well as margin-account borrowings made in the ordinary course.

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

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

BlackRock TCP Capital Corp.

(Name of Issuer)

Common Shares, $0.001 par value

(Title of Class of Securities)

09259EAC2

(CUSIP Number)

Saba Capital Management, L.P.
405 Lexington Avenue, 58th Floor, Attention: Michael D'Angelo
New York, NY, 10174
(212) 542-4635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

11/04/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Common Shares, $0.001 par value

(b)

Name of Issuer:

BlackRock TCP Capital Corp.

(c)

Address of Issuer's Principal Executive Offices:

2951 28th Street, Suite 1000, Santa Monica, CALIFORNIA , 90405.

Item 1 Comment:

This Amendment No. 1 amends Items 3, 5, and 7.

Item 2.

Identity and Background

(a)

This Schedule 13D/A is being jointly filed by: (i) Saba Capital Management, L.P., a Delaware limited partnership ("Saba Capital"); (ii) Saba Capital Management GP, LLC, a Delaware limited liability company ("Saba GP"); and (iii) Mr. Boaz R. Weinstein ("Mr. Weinstein"), (together, the "Reporting Persons"). Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The filing of this statement should not be construed as an admission that any Reporting Person is, for the purposes of Sections 13 of the Securities Exchange Act of 1934, the beneficial owner of the Common Shares reported herein.

(b)

The address of the business office of each of the Reporting Persons is 405 Lexington Avenue, 58th Floor, New York, New York 10174.

(c)

The principal business of: (i) Saba Capital is to serve as investment manager to private and public investment funds and/or accounts, (ii) Saba GP is to serve as general partner of the Saba Capital and other affiliated entities, and (iii) Mr. Weinstein, an individual, is managing member of the general partner of Saba Capital and other affiliated entities.

(d)

The Reporting Persons have not, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

(e)

The Reporting Persons have not, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was, or is subject to, a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or State securities laws or finding any violation with respect to such laws.

(f)

Saba Capital is organized as a limited partnership under the laws of the State of Delaware. Saba GP is organized as a limited liability company under the laws of the State of Delaware. Mr. Weinstein is a citizen of the United States.

Item 3.

Source and Amount of Funds or Other Consideration

Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $24,194,242 was paid to acquire the Common Shares reported herein.

Item 5.

Interest in Securities of the Issuer

(a)

See the Reporting Persons section of this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 83,902,775 shares of common stock outstanding as of 11/5/26, as disclosed in the company's 10-Q filed 11/5/26.

(b)

See the Reporting Persons section of this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.

(c)

The transactions in the Common Shares effected from the filing of the Schedule 13D on 10/14/26 through the market open of the filing date of this Schedule 13D/A are set forth in Schedule A, and are incorporated herein by reference. All trades were effected in the open market.

(d)

The funds and accounts advised by Saba Capital have the right to receive the dividends and proceeds of sales from the Common Shares.

(e)

Not Applicable.

Item 7.

Material to be Filed as Exhibits.

Exhibit 3 - Schedule A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Saba Capital Management, L.P.

Signature:	/s/ Michael D'Angelo
Name/Title:	General Counsel
Date:	11/06/2026

Boaz R. Weinstein

Signature:	/s/ Michael D'Angelo
Name/Title:	Attorney-in-fact*
Date:	11/06/2026

Saba Capital Management GP, LLC

Signature:	/s/ Michael D'Angelo
Name/Title:	Authorized Signatory
Date:	11/06/2026

Comments accompanying signature:

Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823

Source: View Original Filing on SEC EDGAR