Saba Capital Management Reduces Stake in BlackRock ESG Capital Allocation Term Trust to 19.14%

On June 3, 2026, Saba Capital Management, L.P., along with Saba Capital Management GP, LLC and Boaz R. Weinstein, filed an amendment to their Schedule 13D regarding BlackRock ESG Capital Allocation Term Trust (ECAT). The filing indicates a decrease in their position, with the reporting persons now beneficially owning 19,034,941 common shares, representing approximately 19.14% of the class. This is a reduction from their previously reported ownership of 20,188,874 shares (20.3%). The reduction in holdings resulted from a series of open-market sales conducted between May 11, 2026, and June 1, 2026. During this period, the reporting persons sold a total of 1,153,933 shares at prices ranging from $15.11 to $15.72 per share. The total aggregate purchase cost for the remaining shares is approximately $282,962,374, funded through investor capital and margin account borrowings. This filing marks Amendment No. 34 for the reporting group regarding this issuer.