First Trust entities report 13.15% stake in abrdn Income Credit (ACP)

Rhea-AI Filing Summary

First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation report beneficial ownership of 16,502,803 common shares of abrdn Income Credit Strategies Fund, representing 13.15% of the class. These shares are held in unit investment trusts and other investment vehicles, giving the firms shared dispositive power but no voting power. The trustee votes the unit investment trust shares to mirror other shareholders, and each reporting person disclaims beneficial ownership.

Key Figures

Shares beneficially owned: 16,502,803 shares Percent of class owned: 13.15 % Sole voting power: 0 shares +3 more

6 metrics

Shares beneficially owned 16,502,803 shares Common shares of abrdn Income Credit Strategies Fund reported by First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation

Percent of class owned 13.15 % Reported beneficial ownership percentage of the fund’s common shares

Sole voting power 0 shares Shares for which the reporting persons have sole power to vote or direct the vote

Shared voting power 0 shares Shares for which the reporting persons have shared power to vote or direct the vote

Shared dispositive power 16,502,803 shares Shares for which the reporting persons have shared power to dispose or direct disposition

Per-UIT issuer holding cap 3 % No individual unit investment trust holds more than 3% of any registered investment company issuer’s shares

Key Terms

beneficial ownership, unit investment trusts, Rule 12d1-4, Investment Company Act of 1940, +1 more

5 terms

beneficial ownership financial

"Item 4 reports the amount <b>beneficially owned</b> as 16,502,803 common shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

unit investment trusts financial

"First Trust Portfolios L.P. acts as sponsor of certain unit investment trusts which hold shares"

A unit investment trust (UIT) is a pooled investment that sells investors fixed “units” representing a pre-selected, unchanging bundle of stocks, bonds or other securities held for a set period. Think of it like buying a pre-packed grocery basket that won’t be rearranged — you know exactly what you own and roughly when it will end. UITs matter to investors because they offer predictable holdings and income patterns, lower active management, and clear tax and fee implications compared with regularly traded funds.

Rule 12d1-4 regulatory

"Subject to the requirements of Rule 12d1-4 under the Investment Company Act"

Investment Company Act of 1940 regulatory

"An investment company registered under the Investment Company Act of 1940 is referenced"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

dispositive power financial

"Shared <b>dispositive power</b> is reported over 16,502,803 shares of the issuer"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/14/2026 - 09:15 AM Accepted by SEC EDGAR 07/14/2026 - 09:15 AM Learn about SEC filing dates

FAQ

What stake in ACP does First Trust report in this Schedule 13G/A?

First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation report beneficial ownership of 16,502,803 common shares of abrdn Income Credit Strategies Fund, equal to 13.15% of the class of common shares. These shares are held for unit investment trusts and other investment vehicles and accounts.

Do the First Trust entities have voting power over their ACP shares?

No. The reporting persons list 0 shares with sole voting power and 0 shares with shared voting power. Shares held in the unit investment trusts are voted instead by the trustee, generally in line with how other shareholders of the fund vote their shares.

How are the 16,502,803 ACP shares held by First Trust structured?

The 16,502,803 ACP shares are held by unit investment trusts sponsored by First Trust Portfolios L.P. and by other registered investment companies, pooled investment vehicles and separately managed accounts advised by First Trust Advisors L.P., over which the firms have shared dispositive power but no voting authority.

Why is the ACP Schedule 13G/A jointly filed by multiple First Trust entities?

The Schedule 13G/A is jointly filed by First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation under Rule 13d-1(k)(1). The Charger Corporation is the general partner of both partnerships, and the filing aggregates holdings across unit investment trusts and other advised accounts investing in ACP.

Does any single First Trust unit investment trust own more than 3% of ACP?

No. It is stated that no individual unit investment trust sponsored by First Trust Portfolios L.P. holds more than 3% of any registered investment company issuer’s shares. The 13.15% ACP position reflects the combined holdings of multiple unit investment trusts and other investment vehicles and accounts.

Do the First Trust entities claim full beneficial ownership of their ACP position?

Each of First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation expressly disclaims beneficial ownership of the ACP shares identified. The position is reported on behalf of unit investment trusts and client accounts for which they act as sponsor, advisor, or general partner.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

abrdn Income Credit Strategies Fund

(Name of Issuer)

Common

(Title of Class of Securities)

003057106

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 003057106

1

Names of Reporting Persons

First Trust Portfolios L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,502,803.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,502,803.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.15 %

12

Type of Reporting Person (See Instructions)

BD

SCHEDULE 13G

CUSIP Number(s): 003057106

1

Names of Reporting Persons

First Trust Advisors L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,502,803.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,502,803.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.15 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 003057106

1

Names of Reporting Persons

The Charger Corporation

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ILLINOIS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 16,502,803.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

16,502,803.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

13.15 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: abrdn Income Credit Strategies Fund
(b)	Address of issuer's principal executive offices: Attn: Legal Department, c/o Aberdeen Standard Investments, 1900 Market Street, Suite 200, Philadelphia, PA 19103, USA
Item 2.
(a)	Name of person filing: First Trust Portfolios L.P. First Trust Advisors L.P. The Charger Corporation
(b)	Address or principal business office or, if none, residence: 120 East Liberty Drive, Suite 400, Wheaton, Illinois 60187
(c)	Citizenship: Illinois, USA
(d)	Title of class of securities: Common
(e)	CUSIP No.: 003057106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 16,502,803
(b)	Percent of class: 13.15 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 16,502,803
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. This Schedule 13G filing is jointly filed by The Charger Corporation, First Trust Portfolios L.P. and First Trust Advisors L.P. pursuant to Rule 13d-1(k)(1). The Charger Corporation is the General Partner of both First Trust Portfolios L.P. and First Trust Advisors L.P. First Trust Portfolios L.P. acts as sponsor of certain unit investment trusts which hold shares of the issuer. The total number of shares of the issuer held by these unit investment trusts is set forth in Row (8) above with respect to First Trust Portfolios L.P. No individual unit investment trust sponsored by First Trust Portfolios L.P. holds more than 3% of any registered investment company issuer's shares. First Trust Advisors L.P., an affiliate of First Trust Portfolios L.P., acts as portfolio supervisor of the unit investment trusts sponsored by First Trust Portfolios L.P., certain of which hold shares of the issuer. Neither First Trust Portfolios L.P., First Trust Advisors L.P. nor The Charger Corporation have the power to vote the shares of the issuer held by these unit investment trusts sponsored by First Trust Portfolios L.P. These shares are voted by the trustee of such unit investment trusts so as to insure that the shares are ordinarily voted as closely as possible in the same manner and in the same general proportion as are the shares held by owners other than such unit investment trusts. Subject to the requirements of Rule 12d1-4 under the Investment Company Act of 1940 and as further explained in the Standard Terms and Conditions of Trust and related Trust Agreements of the unit investment trusts, First Trust Portfolios L.P., on behalf of the unit investment trusts, may enter into an agreement with a deposited fund which may permit the shares of such fund to be voted in the best interest of unit holders at the discretion of First Trust Portfolios L.P. The difference, if any, between the aggregate amount of shares beneficially owned by each reporting person, as set forth in Row (9) above, and the number of shares of the issuer held by the unit investment trusts sponsored by First Trust Portfolios L.P. represents shares of the issuer which are either held in other registered investment companies, pooled investment vehicles and/or separately managed accounts for which First Trust Advisors L.P. serves as investment advisor and/or investment sub-advisor. Each of First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation disclaims beneficial ownership of the shares of the issuer identified in this filing.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Item 6.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

First Trust Portfolios L.P.

Signature:	/s/ James M. Dykas
Name/Title:	James M. Dykas, Chief Financial Officer
Date:	07/14/2026

First Trust Advisors L.P.

Signature:	/s/ James M. Dykas
Name/Title:	James M. Dykas, Chief Financial Officer
Date:	07/14/2026

The Charger Corporation

Signature:	/s/ James M. Dykas
Name/Title:	James M. Dykas, Chief Financial Officer and Treasurer
Date:	07/14/2026

Exhibit Information

Please see Exhibit 99.1 for Joint Filing Agreement