UBS discloses 30% stake in ACP preferreds

UBS Group AG reports beneficial ownership of 480,458 5.250% Series A Perpetual Preferred Shares of abrdn Income Credit Strategies Fund, representing 30.03% of that class.

Accepted by SEC EDGAR 08/03/2026 - 04:28 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

UBS Group AG reports beneficial ownership of 480,458 5.250% Series A Perpetual Preferred Shares of abrdn Income Credit Strategies Fund, representing 30.03% of that class. UBS reports no voting power over these shares but shared dispositive power over all 480,458 shares.

The filing is made by UBS Group AG, a Swiss entity, on behalf of itself and its wholly owned subsidiary UBS Financial Services Inc.

Key Figures

Beneficially owned shares: 480,458 shares Percent of class: 30.03% Sole voting power: 0 shares +2 more

5 metrics

Beneficially owned shares 480,458 shares 5.250% Series A Perpetual Preferred Shares reported by UBS Group AG

Percent of class 30.03% Portion of 5.250% Series A Perpetual Preferred Shares held by UBS Group AG

Sole voting power 0 shares Shares of ACP preferred over which UBS Group AG has sole voting power

Shared voting power 0 shares Shares of ACP preferred over which UBS Group AG has shared voting power

Shared dispositive power 480,458 shares ACP preferred shares over which UBS Group AG has shared dispositive power

Key Terms

beneficially owned, shared dispositive power, parent holding company, Schedule 13G

4 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 480,458"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared dispositive power financial

"Shared power to dispose or to direct the disposition of: 480,458"

parent holding company financial

"If a parent holding company has filed this schedule, pursuant to (ii)(G)"

Schedule 13G regulatory

"This statement on is being filed by UBS Group AG"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What percentage of abrdn Income Credit Strategies Fund (ACP) preferred shares does UBS Group own?

UBS Group reports beneficial ownership of 30.03% of ACP’s 5.250% Series A Perpetual Preferred Shares, corresponding to 480,458 shares, according to this Schedule 13G/A amendment.

How many ACP 5.250% Series A Perpetual Preferred Shares does UBS Group report holding?

UBS Group reports beneficial ownership of 480,458 5.250% Series A Perpetual Preferred Shares of ACP, as disclosed in Item 4 of the Schedule 13G/A filing.

What voting power over ACP preferred shares does UBS Group report in this Schedule 13G/A?

UBS Group reports 0 shares with sole voting power and 0 shares with shared voting power in ACP’s 5.250% Series A Perpetual Preferred Shares, indicating no reported voting authority over these securities.

What dispositive power over ACP preferred shares does UBS Group have under this filing?

UBS Group reports 0 shares with sole dispositive power and 480,458 shares with shared dispositive power in ACP’s 5.250% Series A Perpetual Preferred Shares.

Which entities are included in UBS Group’s Schedule 13G/A for ACP?

The statement is filed by UBS Group AG on behalf of itself and its wholly owned subsidiary UBS Financial Services Inc., identifying UBS Group AG as the parent holding company.

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

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

abrdn Income Credit Strategies Fund

(Name of Issuer)

5.250% Series A Perpetual Preferred Shares

(Title of Class of Securities)

003057205

(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): 003057205

1

Names of Reporting Persons

UBS Group AG

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

SWITZERLAND

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 480,458.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

480,458.00

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)

30.0 %

12

Type of Reporting Person (See Instructions)

BK

SCHEDULE 13G

Item 1.
(a)	Name of issuer: abrdn Income Credit Strategies Fund
(b)	Address of issuer's principal executive offices: 1900 MARKET STREET, 1900 MARKET STREET, PHILADELPHIA, PENNSYLVANIA, 19103.
Item 2.
(a)	Name of person filing: UBS Group AG
(b)	Address or principal business office or, if none, residence: Bahnhofstrasse 45 PO Box CH-8021, Zurich, Switzerland
(c)	Citizenship: Switzerland
(d)	Title of class of securities: 5.250% Series A Perpetual Preferred Shares
(e)	CUSIP No.: 003057205
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: 480,458
(b)	Percent of class: 30.03%
(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: 480,458
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.
	Not Applicable
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. This statement on Schedule 13G is being filed by UBS Group AG on behalf of itself and its wholly owned subsidiary UBS Financial Services Inc.
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.

UBS Group AG

Signature:	Andrew Johnson
Name/Title:	Director
Date:	08/03/2026

Signature:	Anjali Tiwari
Name/Title:	Associate Director
Date:	08/03/2026