ECAT - BlackRock ESG Capital Allocation Term Trust

What this means for you

Saba has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.

Nothing is required of you now. If the fund itself announces a buy-back or a vote, it appears in the box above with the date by which you would need to act.

Large investors can also sell down and walk away. We show every notice they file, the day it is filed.

Email me if this changes

What happened, and when

1. Sept 2, 2026

   Saba cut its stake to 13.7% (from 14.8%). It has said it may push for changes.

   Original document →

2. Aug 13, 2026

   Saba cut its stake to 14.8% (from 15.9%). It has said it may push for changes.

   Original document →

3. Aug 3, 2026

   Saba cut its stake to 15.9% (from 17%). It has said it may push for changes.

   Original document →

4. July 22, 2026

   Saba cut its stake to 17% (from 18%). It has said it may push for changes.

   Original document →

5. June 29, 2026

   Saba cut its stake to 18% (from 19.1%). It has said it may push for changes.

   Original document →

About this fund

• Run by BlackRock Advisors, LLC. Part of the BlackRock-advised Funds fund family. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Size: about $1.57 billion of holdings, as of June 30, 2026. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 11% on top of its own money, as of June 30, 2026. Borrowed money makes gains and losses bigger. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 1.3% a year in management fees; 1.4% a year in total, including interest on borrowed money. Fiscal year ended Dec 31, 2025. As of Dec 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Dec 31, 2025) the fund paid $3.54 a share. $0.24 of that was income; $3.30 was your own money back, not income. As of Dec 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Dec 31, 2025): $16.17. The shares traded at $15.38, about 4.9% below that. As of Dec 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 14.4% over the last three months we have (April-June 2026), before the share price is taken into account. Over the last 12 months: +17.3%. As of June 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Dec 31, 2025): the value of the holdings returned +14.3%. How the share price did: the shares returned +16.4% over the same year, counting payouts and the change in the market price. As of Dec 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2021.

What the fund holds

Mostly shares (70%), the rest mortgage bonds, bonds and loans. About 75% issued in the U.S.

The fund also sells options on its holdings to raise income.

0.6% of holdings are in default.

1. Nvidia - 4.2%
2. Taiwan Semiconductor Manufacturing - 3.4%
3. Alphabet - 3.4%
4. Apple - 3.1%
5. Micron Technology - 2.9%
6. ASML Holding NV - 2.8%
7. Eli Lilly & - 2.6%
8. Umbs, TBA, Uniform Mortgage-Backed Security, TBA - 7.5%
9. Cash and short-term - 2.3%
10. Microsoft - 2.1%

As of June 30, 2026, from the fund's quarterly holdings report. Original document →