Welcome to our dedicated page for Angel Oak Financial Strats Income Term SEC filings (Ticker: FINS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) provides access to the fund’s official regulatory documents, including current reports on Form 8-K and other required filings. These documents explain material events affecting the fund, such as changes in its Board of Trustees, officer appointments, governance provisions, and developments related to its investment advisory arrangements.
Among the notable filings are Form 8-K reports describing the acquisition by Brookfield Asset Management Ltd. of a majority interest in Angel Oak Companies, LP, the parent of Angel Oak Capital Advisors, LLC, which serves as FINS’ investment adviser. These filings outline how the transaction constitutes a change of control under the Investment Company Act of 1940, resulting in the automatic termination of the existing advisory agreement and the consideration of a new investment advisory agreement with substantially similar terms. Other 8-K disclosures detail Board actions, such as accepting the resignation of a trustee, adjusting the size of the Board, and proposing amendments to the Declaration of Trust to modify thresholds for removing trustees for cause.
Through this page, investors can also review filings that address the timing of shareholder meetings and the procedures for shareholder nominations and proposals, as reflected in the fund’s bylaws and governance documents. These materials provide insight into how FINS structures its corporate governance and responds to feedback from shareholders about Board composition and oversight.
Stock Titan enhances these filings with AI-powered summaries that highlight the key points in each document, helping readers quickly understand complex legal and regulatory language. Real-time updates from the SEC’s EDGAR system ensure that new filings, such as additional 8-Ks, annual and semi-annual reports, and proxy materials related to advisory agreements or governance changes, are available as soon as they are posted. Users can also track information relevant to management changes and Board decisions that may influence how the fund is overseen and advised.
By using the FINS filings page, investors gain a structured view of the fund’s regulatory history, including advisory transitions linked to the Brookfield transaction, governance amendments proposed by the Board, and other material events disclosed through SEC reports.
Angel Oak Financial Strategies Income Term Trust insider buys shares. Reporting person Prabhu Sreeniwas, identified as an investment adviser principal, purchased 9,203 shares of common stock on November 20, 2025 at $12.88 per share. Following this transaction, he directly beneficially owned 175,180 common shares.
Angel Oak Financial Strategies Income Term Trust insider Michael Fierman reported open-market purchases of common stock. Fierman, described as an investment adviser principal, bought 313 shares on 11/06/2025 at $13.15, 15,898 shares on 11/07/2025 at $13.20, and 9 shares on 12/12/2025 at $13.09. After these transactions, he directly beneficially owned 125,420 common shares of the trust.
Angel Oak Financial Strategies Income Term Trust (FINS) reported that its board of trustees plans to hold the next annual shareholder meeting more than 30 days after the anniversary of the prior year’s meeting. The board took this step to give shareholders a break following several recent non-routine events, including a second quarter 2025 rights offering completed on May 14, 2025, a contested annual meeting on June 26, 2025 and a special meeting on September 26, 2025.
The board also plans to recommend that shareholders approve an amendment to the Declaration of Trust at the forthcoming annual meeting. This amendment would lower the voting threshold needed to remove a trustee for Cause from 75% to 66.67% for both shareholders and trustees, which would make removal of a trustee for Cause easier. The board will later consider whether future annual meetings after 2026 will be scheduled around the anniversary of the 2026 or 2025 annual meeting.
Karpus Management, Inc. filed Amendment No. 4 to Schedule 13G reporting a passive stake in Angel Oak Financial Strategies Income Term Trust (FINS).
Karpus disclosed beneficial ownership of 5,174,490 shares, representing 15.48% of the common shares, with sole voting and dispositive power over the same number of shares. The filing lists the date of event as 11/12/2025 and certifies the securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control. Karpus is a registered investment adviser; its accounts directly own the reported shares.
The filing notes Karpus is controlled by City of London Investment Group plc, but states voting and investment power over these securities are exercised independently by Karpus under established informational barriers.
Angel Oak Financial Strategies Income Term Trust (FINS) Form 3 shows that Robert Edward Bortz III, serving as President and an officer/director, reported beneficial ownership of 820 shares of the issuer's common stock. The filing covers the event dated 10/01/2025 and is an initial statement required under Section 16. The ownership is reported as direct and no derivative securities were listed.
Angel Oak Financial Strategies Income Term Trust announced several governance and ownership updates. To meet investment company rules requiring the post-transaction Board to be more than 75% independent, the Board accepted the resignation of Trustee Clayton Triick, effective at the close of business on September 30, 2025, and reduced the Board size to five members. Effective October 1, 2025, Ward Bortz replaced Adam Langley as President of the Fund.
The Fund also reported that on October 1, 2025, Brookfield Asset Management Ltd. acquired a majority of Angel Oak Companies, LP, the parent of the Fund’s investment adviser. This transaction is not expected to result in any material change in the day-to-day management of the Fund and was previously announced earlier in the year.
Angel Oak Financial Strategies Income Term Trust (FINS) shareholder Trevor Montano has issued an exempt solicitation urging fellow investors to vote against a new investment advisory agreement with incumbent adviser Angel Oak Capital Advisors at an upcoming special meeting. He notes that the FINS share price has fallen by over 35% since its 2019 inception and that the stock has traded at a median 9.4% discount to net asset value since February 27, 2020.
Montano argues that FINS has underperformed peer closed-end funds on a three- and five-year total shareholder return basis and that the Board has not run a competitive selection process for the adviser. He highlights that from 2021–2025, FINS paid about $30.6 million in cumulative investment advisory fees versus $23.1 million in cumulative net income. He also raises governance concerns, including unelected trustees continuing to serve and support the new agreement, and says he will vote against both the agreement and any adjournment of the special meeting.
Angel Oak Financial Strategies Income Term Trust director Andrea Mullins reported a non-derivative purchase of 7,585 common shares at a price of $13.1518. After the transaction, Ms. Mullins directly beneficially owns 7,585 shares. The Form 4 shows no derivative securities and was filed by a single reporting person.
Angel Oak Financial Strategies Income Term Trust (FINS) is asking shareholders to approve a New Investment Advisory Agreement so Angel Oak Capital Advisors, LLC can continue managing the Fund after Brookfield Asset Management Ltd. acquires a majority interest in Angel Oak Companies, LP. The Transaction would transfer roughly ~51% of Angel Oak Companies, LP to Brookfield and is expected to close by September 30, 2025, though closing is subject to conditions. The New Agreement is stated to be substantially identical to the Current Investment Advisory Agreement and would keep fees and day-to-day management unchanged.
The Board unanimously recommends voting FOR both Proposal 1 (approve the New Investment Advisory Agreement) and Proposal 2 (adjournment to solicit additional proxies). The Board approved an interim advisory agreement permitting the Adviser to continue managing the Fund for up to 150 days post-closing if shareholder approval is not timely. The proxy notes comparative fee data showing the Fund’s management fee and net expense ratio are above peer medians, and discloses a temporary 0.35% fee waiver that reduced the management fee to 1.00% for six months starting June 1, 2025.
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