abrdn Income Credit: UBS reports 28.83% preferred stake

The reported position includes shared dispositive power over 461,313 shares, while shared voting power covers 2,543 shares.

Rhea-AI Filing Summary

abrdn Income Credit Strategies Fund (ACP) is the issuer of 5.250% Series A Perpetual Preferred Shares; UBS Group AG reported beneficial ownership of 461,313 shares, or 28.83% of the class, as of September 30, 2026. UBS Group AG made the report on behalf of itself and its wholly owned subsidiaries UBS Financial Services Inc. and UBS Securities LLC. It reported shared voting power over 2,543 shares and shared dispositive power over 461,313 shares, with no sole voting or dispositive power.

Key Figures

Beneficial ownership: 461,313 shares Percent of class: 28.83% Shared voting power: 2,543 shares +2 more

5 metrics

Beneficial ownership 461,313 shares 5.250% Series A Perpetual Preferred Shares

Percent of class 28.83% 5.250% Series A Perpetual Preferred Shares

Shared voting power 2,543 shares UBS Group AG reported ownership

Shared dispositive power 461,313 shares UBS Group AG reported ownership

Sole voting and dispositive power 0 shares UBS Group AG reported ownership

Key Terms

beneficially owned, Shared Voting Power, Shared Dispositive Power

3 terms

beneficially owned financial

"Amount beneficially owned: 461,313"

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 Voting Power financial

"Shared Voting Power 2,543"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power financial

"Shared Dispositive Power 461,313"

FAQ

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

How many ACP preferred shares did UBS Group report owning?

UBS Group AG reported beneficial ownership of 461,313 5.250% Series A Perpetual Preferred Shares of abrdn Income Credit Strategies Fund (ACP), representing 28.83% of the class as of September 30, 2026.

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

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Available on EDGAR 10/29/2026 - 11:12 AM EDT Accepted by SEC EDGAR 10/29/2026 - 11:12 AM EDT Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 16)

abrdn Income Credit Strategies Fund

(Name of Issuer)

5.250% Series A Perpetual Preferred Shares

(Title of Class of Securities)

003057205

(CUSIP Number)

09/30/2026

(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 2,543.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 461,313.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

461,313.00

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)

28.8 %

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: 461,313
(b)	Percent of class: 28.83%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0.00
	(ii) Shared power to vote or to direct the vote: 2,543
	(iii) Sole power to dispose or to direct the disposition of: 0.00
	(iv) Shared power to dispose or to direct the disposition of: 461,313
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:	/s/ Andrew Johnson
Name/Title:	Director
Date:	10/29/2026