Saba Capital Management Sells Shares in BlackRock ESG Capital Allocation Term Trust

Saba Capital Management, L.P., a 10% owner of BlackRock ESG Capital Allocation Term Trust (ECAT), filed a Form 4 disclosing two separate sales of common stock. On May 26, 2026, Saba sold 92,671 shares at $15.51 per share, reducing its position to 19,516,118 shares. The following day, May 27, 2026, Saba sold an additional 102,862 shares at $15.55 per share, bringing its total holdings down to 19,413,256 shares. Both transactions were indirect holdings and represent a reduction in Saba's substantial position in the closed-end fund. The filing was signed by Zachary Gindes and Boaz Weinstein on May 28, 2026, indicating Saba's continued but reduced ownership stake in the ESG-focused investment trust.