MetLife Investment Management, LLC, a Delaware investment adviser, reported a large ownership position in the preferred shares of abrdn Income Credit Strategies Fund. As of December 31, 2025, it may be deemed the beneficial owner of 4,000,000 Series A Mandatorily Redeemable Preferred Shares, representing 100% of that preferred share class, with sole power to vote and dispose of the shares.
The firm manages these securities in the ordinary course of business on behalf of various clients, including MetLife Reinsurance Company of Charleston, Metropolitan Tower Life Insurance Company and Metropolitan Life Insurance Company, and states that the holdings are not intended to change or influence control of the fund.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
abrdn Income Credit Strategies Fund
(Name of Issuer)
Series A Mandatorily Redeemable Preferred Shares
(Title of Class of Securities)
00279#AA8
(CUSIP Number)
12/31/2025
(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)
SCHEDULE 13G
CUSIP No.
00279#AA8
1
Names of Reporting Persons
MetLife Investment Management, LLC
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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
4,000,000.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
4,000,000.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,000,000.00
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)
100 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: The percent of class is calculated based on 4,000,000 Series A Mandatorily Redeemable Preferred Shares outstanding.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
abrdn Income Credit Strategies Fund
(b)
Address of issuer's principal executive offices:
1900 Market Street, Suite 200, Philadelphia, Pennsylvania, 19103
Item 2.
(a)
Name of person filing:
MetLife Investment Management, LLC (the "Reporting Person")
(b)
Address or principal business office or, if none, residence:
One MetLife Way, Whippany, New Jersey 07981
(c)
Citizenship:
Delaware
(d)
Title of class of securities:
Series A Mandatorily Redeemable Preferred Shares
(e)
CUSIP No.:
00279#AA8
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:
As of December 31, 2025, the Reporting Person may be deemed to be the beneficial owner of 4,000,000 Series A Mandatorily Redeemable Preferred Shares, representing 100% of the Series A Mandatorily Redeemable Preferred Shares. This percentage is calculated based on 4,000,000 Series A Mandatorily Redeemable Preferred Shares outstanding.
(b)
Percent of class:
100%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
4,000,000
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the disposition of:
4,000,000
(iv) Shared power to dispose or to direct the disposition of:
0
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.
The Reporting Person manages these Series A Mandatorily Redeemable Preferred Shares on behalf of various clients, including MetLife Reinsurance Company of Charleston, Metropolitan Tower Life Insurance Company and Metropolitan Life Insurance Company.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
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.
