UBS Group (ACP) discloses 531,368 Series A preferred shares (33.21%)

Rhea-AI Filing Summary

UBS Group reports beneficial ownership of 531,368 shares of abrdn Income Credit Strategies Fund 5.250% Series A Perpetual Preferred Shares, representing 33.21% of the class. The filing (Amendment No. 14 to a Schedule 13G/A) lists UBS Group and its wholly owned subsidiaries as the reporting entities and is signed by Andrew Johnson on 05/01/2026.

The filing gives UBS Group's principal office as Bahnhofstrasse 45, CH-8021 Zurich, Switzerland, and the issuer's principal executive office as 1900 Market Street, Philadelphia, Pennsylvania. The securities carry CUSIP 003057205.

Insights

Corporate Governance Specialist

Large passive stake disclosure clarifies ownership structure.

The Schedule 13G/A amendment documents a substantial beneficial position: 531,368 shares or 33.21% of the 5.250% Series A Perpetual Preferred Shares. This level of reported ownership signals a meaningful holder concentration in that preferred class.

Because the filing is a Schedule 13G/A, it reflects an ownership reporting obligation rather than an acquisition narrative; the amendment format typically indicates updated holdings or reclassification. Future filings would show material changes to this position.

Fixed-Income / Securities Analyst

Position size is sizable for a preferred share class; monitor voting/disposition rights.

The filing states UBS has shared power to dispose of 531,368 shares and reports 0 sole voting and 0 sole dispositive power. For preferred securities, disposition control and voting rights affect liquidity and potential block transactions.

Key items to watch in subsequent filings include any change in percent ownership, transfers among UBS subsidiaries, or disclosures tying the position to trading or underwriting activities.

Key Figures

Shares beneficially owned: 531,368 shares Percent of class: 33.21% CUSIP: 003057205 +2 more

5 metrics

Shares beneficially owned 531,368 shares 5.250% Series A Perpetual Preferred Shares

Percent of class 33.21% Percent of the preferred class as reported

CUSIP 003057205 Identifier for the Series A Perpetual Preferred Shares

Shared dispositive power 531,368 shares Number of shares with shared power to dispose

Signees / Date Signed 05/01/2026 Signature by Andrew Johnson, Director

Key Terms

5.250% Series A Perpetual Preferred Shares, Schedule 13G/A, Beneficially owned

3 terms

5.250% Series A Perpetual Preferred Shares financial

"Title of class of securities: 5.250% Series A Perpetual Preferred Shares"

Schedule 13G/A regulatory

"Amendment No. 14 to a Schedule 13G/A"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned financial

"Amount beneficially owned: 531,368"

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.

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

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Accepted by SEC EDGAR 05/01/2026 - 09:41 AM Learn about SEC filing dates

FAQ

How many 5.250% Series A preferred shares does UBS report owning in ACP?

UBS reports beneficial ownership of 531,368 shares. The Schedule 13G/A amendment lists this exact share count for the 5.250% Series A Perpetual Preferred Shares and the CUSIP 003057205.

What percentage of ACP's preferred class does UBS Group hold?

UBS Group holds 33.21% of the class. The filing states the percent of class as 33.21% tied to the 531,368 preferred shares disclosed on the Schedule 13G/A amendment.

Who filed the Schedule 13G/A amendment for ACP and when was it signed?

The filing was submitted by UBS Group and signed by Andrew Johnson on 05/01/2026. The filing text identifies UBS Group and its subsidiaries as the reporting entities.

What voting or dispositive powers does UBS report for these ACP preferred shares?

UBS reports 0 sole voting power and 0 sole dispositive power, with 531,368 shared dispositive power. The Schedule 13G/A entry lists shared disposal authority for that share count.

Where are the issuer's and filer’s principal offices listed in the filing?

Issuer principal office: 1900 Market Street, Philadelphia, Pennsylvania. Filer principal office: Bahnhofstrasse 45, CH-8021 Zurich, Switzerland. These addresses appear in the Item 1 and Item 2 sections.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 14)

abrdn Income Credit Strategies Fund

(Name of Issuer)

5.250% Series A Perpetual Preferred Shares

(Title of Class of Securities)

003057205

(CUSIP Number)

03/31/2026

(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 531,368.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

531,368.00

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)

33.2 %

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: 531,368
(b)	Percent of class: 33.21%
(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: 531,368
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 subsidiaries UBS Financial Services Inc. and UBS Securities LLC.
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:	05/01/2026