Saba Capital Reduces Stake in BlackRock ESG Capital Allocation Term Trust (ECAT) to 20.3%

Saba Capital Management, L.P., along with Saba Capital Management GP, LLC and Boaz R. Weinstein, filed an Amendment No. 33 to their Schedule 13D regarding their holdings in BlackRock ESG Capital Allocation Term Trust (ECAT). The filing, dated May 11, 2026, reports a decrease in their collective ownership to 20,188,874 common shares, representing 20.3% of the class. This is a reduction from their previous position of 21,379,945 shares (21.49%). The decrease resulted from a series of open-market sell transactions conducted between April 27, 2026, and May 8, 2026. Notable sales during this period include 200,000 shares sold on May 8 at $15.12 per share and 184,921 shares sold on May 6 at $15.06 per share. The total cost to acquire the remaining shares was approximately $300.1 million. The reporting persons share voting and dispositive power over the reported shares. The calculation of ownership percentage is based on 99,468,307 shares outstanding as of the issuer's most recent N-CSR filing.