Company: BCAT
Filing Date: 2025-09-04
Form Type: N-CSRS
Source: 0001193125-25-196039
Chunk: 44

Company: BlackRock Capital Allocation Term Trust
Filing Date: 2025-09-04
Form: N-CSRS
Chunk 44
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 remaining portion to BIM as compensation for its services as securities lending agent. Pursuant to the current securities lending agreement, each Trust retains 81% of securities lending income (which excludes collateral investment fees), and this amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees. In addition, commencing the business day following the date that the aggregate securities lending income earned across the BlackRock Fixed-Income Complex in a calendar year exceeds specified thresholds, each Trust, pursuant to the securities lending agreement, will retain for the remainder of that calendar year securities lending income in an amount equal to 84% of securities lending income (which excludes collateral investment fees), and this amount retained can never be less than 70% of the total of securities lending income plus the collateral investment fees. The share of securities lending income earned by each Trust is shown as securities lending income — affiliated — net in the Consolidated Statements of Operations. For the six months ended June 30, 2025, each Trust paid BIM the following amounts for securities lending agent services:

| Trust Name | Amounts |
| ECAT       |  $5,327 |

Trustees and Officers: Certain trustees and/or officers of the Trusts are directors and/or officers of BlackRock or its affiliates. The Trusts reimburse the Manager for a portion of the compensation paid to the Trusts ’ Chief Compliance Officer, which is included in Trustees and Officer in the Consolidated Statements of Operations. 7. PURCHASES AND SALES For the six months ended June 30, 2025, purchases and sales of investments, including paydowns/payups, mortgage dollar rolls and excluding short-term securities, were as follows:

|            | U.S. Government Securities |                | Other Securities |              |
| Trust Name |                  Purchases |          Sales |        Purchases |        Sales |
| BCAT       |             $1,593,840,165 | $1,595,962,041 |     $612,908,843 | $821,528,042 |
| ECAT       |              1,189,169,329 |  1,196,595,774 |      738,129,432 |  798,390,869 |

For the six months ended June 30, 2025, purchases and sales related to mortgage dollar rolls were as follows:

| Trust Name |      Purchases |          Sales |
| BCAT       | $1,006,218,