Saba Capital Management, L.P. 4

What Happened
Saba Capital Management, L.P. — reported as a 10% owner of BlackRock ESG Capital Allocation Term Trust (ticker: ECAT) — disposed of a total of 223,991 shares in two sales: 130,170 shares at $15.73 on 2026-06-30 (proceeds $2,047,574) and 93,821 shares at $15.76 on 2026-07-01 (proceeds $1,478,619). Combined proceeds were approximately $3,526,193. These were sales (code S), described as open-market or private sales, not purchases.

Key Details

• Filing accession: 0001510281-26-000228; Form 4 filed 2026-07-02 covering transactions on 2026-06-30 and 2026-07-01.
• Transactions: 06/30/2026 — 130,170 sh @ $15.73 ($2,047,574); 07/01/2026 — 93,821 sh @ $15.76 ($1,478,619).
• Total shares sold: 223,991; total proceeds: ~$3.53M.
• Transaction type: S = Sale (open market or private sale).
• Shares owned after transaction: not specified in the provided excerpt — see the full Form 4 for post-transaction holdings.
• Timeliness: Form 4 was filed 07/02/2026, within required reporting time (no late filing indicated).

Context
Saba Capital is an institutional 10% beneficial owner, not an executive officer of the fund. Sales by large institutional holders typically reflect portfolio management or rebalancing decisions; they are not identical to insider (executive) trades and do not necessarily signal a change in company fundamentals. For full details (exact post-sale holdings, footnotes such as 10b5-1 plans or other disclosure), consult the original Form 4 filing on the SEC EDGAR site.