Saba Capital Management, L.P. sold 151,995 shares of BlackRock ESG Capital Allocation Term Trust ($ECAT) on July 27, 2026, at $15.11 per share, for a total of approximately $2.3 million. The Form 4 disclosing the open-market sale was filed on July 28, one day after the transaction.
The fund holds a 10%-or-greater ownership stake in $ECAT and retained 16,453,603 shares after the sale, a position that has declined steadily throughout the month. The July 27 transaction was the largest single-day sale Saba Capital recorded in $ECAT during July 2026.
The broader July picture is more detailed. Across 15 separate open-market sales between July 7 and July 27, Saba Capital reduced its $ECAT position by a combined 1,012,500 shares totaling roughly $15.7 million. The pace was consistent: the fund transacted on no fewer than eight trading days during that stretch, with per-share prices ranging from $15.11 to $15.91. The July 24 sale of 46,387 shares for approximately $701,835 was filed on the same day as the July 27 transaction, so both filings landed in the public record simultaneously on July 28.
The selling did not begin with July. Earlier filings show Saba Capital was also an active seller in $ECAT through late June 2026, with transactions on June 22, 23, 24, 25, 26, and 29 collectively representing hundreds of thousands of additional shares at prices clustered in the mid-$15 range.
Saba Capital Management, L.P. is a New York-based investment management firm that frequently appears as a large owner in closed-end funds. $ECAT, the BlackRock ESG Capital Allocation Term Trust, allocates across equity and fixed income under an environmental, social, and governance mandate. As a closed-end fund trading on an exchange, its shares can trade at a premium or discount to the net asset value of its underlying holdings, which makes large-owner activity a regular feature of its SEC filing record.
With more than 16.4 million shares still held after the July 27 transaction, Saba Capital remains well above the 10% ownership threshold that triggers the reporting obligations reflected in these filings.