Saba Capital trims BlackRock ESG Capital (NYSE: ECAT) stake with small sale

Rhea-AI Filing Summary

Saba Capital Management, L.P., a ten percent owner of BlackRock ESG Capital Allocation Term Trust (ECAT), reported two indirect open-market sales of common stock. On May 15, 2026, it sold 7,609 shares at $15.25 per share, and on May 14, 2026 it sold 2,588 shares at $15.69 per share. After these transactions, Saba Capital indirectly holds 19,778,058 ECAT shares, so the sales represent only a small fraction of its disclosed position.

Insider Trade Summary

Net Seller: 10,197 shares ($156,643)

Net Sell 2 txns

Insider Saba Capital Management, L.P.

Role null

Sold 10,197 shs ($157K)

Type	Security	Shares	Price	Value
Sale	Common Stock	7,609	$15.25	$116K
Sale	Common Stock	2,588	$15.69	$41K

Holdings After Transaction: Common Stock — 19,778,058 shares (Indirect, -)

Footnotes (1)

Key Figures

Shares sold May 15, 2026: 7,609 shares at $15.25 Shares sold May 14, 2026: 2,588 shares at $15.69 Total shares sold: 10,197 shares +2 more

5 metrics

Shares sold May 15, 2026 7,609 shares at $15.25 Indirect open-market sale of ECAT common stock

Shares sold May 14, 2026 2,588 shares at $15.69 Indirect open-market sale of ECAT common stock

Total shares sold 10,197 shares Aggregate of two ECAT open-market sales

Holdings after May 15, 2026 trade 19,778,058 shares Indirect ECAT common stock position following reported sales

Insider role Ten percent owner Saba Capital’s status relative to ECAT

Key Terms

open-market sale, ten percent owner, indirect ownership, common stock

4 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 regulatory

""is_ten_percent_owner": 1"

indirect ownership financial

""ownership_type": "indirect""

common stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Form 4 Insider Transactions: What Each Field Means →

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)
05/14/2026

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	05/14/2026		S		2,588	D	$15.69	19,785,667	I	-
Common Stock	05/15/2026		S		7,609	D	$15.25	19,778,058	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	05/18/2026
	Boaz Weinstein	05/18/2026
	** 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 indirect open-market sales of ECAT common stock. It sold 7,609 shares on May 15, 2026 and 2,588 shares on May 14, 2026, then reported holding 19,778,058 shares indirectly after the trades.

How many BlackRock ESG Capital (ECAT) shares did Saba Capital sell?

Saba Capital sold a total of 10,197 ECAT common shares. The transactions were 7,609 shares at $15.25 on May 15, 2026 and 2,588 shares at $15.69 on May 14, 2026, all reported as indirect open-market sales.

At what prices did Saba Capital sell its ECAT shares?

Saba Capital sold ECAT shares at two different prices. It sold 7,609 shares at $15.25 per share on May 15, 2026 and 2,588 shares at $15.69 per share on May 14, 2026, both classified as open-market sales.

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

After these reported sales, Saba Capital’s indirect holdings total 19,778,058 ECAT common shares. This post-transaction figure shows that the 10,197 shares sold represent only a small portion of its overall disclosed position in the trust.

Is Saba Capital a ten percent owner of BlackRock ESG Capital (ECAT)?

Yes. The Form 4 identifies Saba Capital Management, L.P. as a ten percent owner of BlackRock ESG Capital Allocation Term Trust. The filing reports its role as a significant holder and discloses recent open-market sales while retaining over 19.7 million ECAT shares indirectly.

Were Saba Capital’s ECAT transactions direct or indirect holdings?

The Form 4 classifies Saba Capital’s ECAT trades and holdings as indirect. Both transactions list ownership code “I” for indirect ownership, and the total of 19,778,058 ECAT common shares is also reported as being held indirectly rather than directly.