Angel Oak Financial Strategies Income Term Trust (FINS) filings document material events and governance records for a closed-end fund advised by Angel Oak Capital Advisors, LLC. The Fund’s regulatory disclosures cover board actions, shareholder meeting procedures, advisory-agreement matters, capital-structure events and other governance topics relevant to its listed fund structure.
Recent Form 8-K disclosures include meeting-timing and advance-notice bylaw matters, as well as references to a completed rights offering, a contested annual meeting and a special shareholder meeting. The filing record also includes material-event reporting tied to fund governance, adviser arrangements and capital actions.
Angel Oak Financial Strategies Income Term Trust is reshaping its capital structure by issuing $50 million of Series A Mandatorily Redeemable Preferred Shares and privately offering $40 million of 5.364% Series C Senior Notes. The preferred shares are due April 30, 2031 and are rated A3 by Moody’s, while the notes mature July 8, 2030 and are rated A1.
The fund plans to use MRPS proceeds primarily to refinance existing debt and fund new portfolio investments, and to use Series C Notes proceeds to redeem its 2.35% Series A Senior Notes maturing July 8, 2026. A leverage table shows $75.5 million of repurchase agreement leverage, $45 million of 2.80% Series B Notes due July 8, 2028, $40 million of Series C Notes and $50 million of MRPS outstanding.
The board has also called the annual shareholder meeting for 1:00 p.m. on September 25, 2026 in Atlanta, with a July 10, 2026 record date. Shareholders will vote on trustee elections, an amendment lowering removal thresholds for trustees from 75% to 66.67%, potential adjournments, auditor ratification and other proper business.
Karpus Management, Inc. amended its Schedule 13G/A to report beneficial ownership of 4,697,846 shares of Angel Oak Financial Strategies Income Term Trust common stock, equal to 14.06%.
The filing (Amendment No. 5) shows the shares are held directly by accounts managed by Karpus, with sole voting power and sole dispositive power over 4,697,846 shares. The cover date appears as 03/31/2026 and the signature date is 05/14/2026.
FINS submitted a Form N-CEN annual report that lists standard fund governance and operational items and discloses brokerage and principal-transaction totals. The filing shows aggregate brokerage commissions of $11,696 and multiple principal transaction values, the largest listed at $120,691,135.
The form is a routine annual compliance filing that collects contacts, service providers, board and compliance officer details, securities-lending and expense-limitation answers, and trading counterparty activity for the reporting period.
Angel Oak Financial Strategies Income Term Trust (FINS) filed its Annual Certified Shareholder Report for the fiscal year ended January 31, 2026. The Fund returned 10.53% on market price and 8.61% on NAV for the 12-month period. Net assets totaled $465,192,557 with NAV per share of $13.92 and market price $13.25.
The Fund reported $583.1M cost (investments at fair value $584.1M), net investment income of $23,490,942, realized/unrealized gains of $23,421,078, and distributions totaling $41,269,811 (including $17,744,447 return of capital). Capital activity included a rights offering raising $105,963,470. Leverage comprised senior notes of $85,000,000 and reverse repurchase agreements of $40,649,000.
Angel Oak Financial Strategies Income Term Trust filed a Post-Effective Amendment No. 1 on February 25, 2026 under Form N-2 pursuant to Rule 462(d) to furnish certain exhibits, including Exhibit (g) and Exhibit (k)(5), and states this amendment shall become effective immediately upon filing.
The amendment incorporates Parts A and B of the registration statement by reference, lists approximate offering expenses of $143,000, and reports 10,358 record holders of common shares as of February 13, 2026. Several agreements and the Operating Expense Limitation Agreement dated October 1, 2025, as amended February 1, 2026, are filed or incorporated by reference.
Angel Oak Financial Strategies Income Term Trust director buys shares
Director Ira P. Cohen reported an open-market purchase of 379 shares of common stock at a price of $13.17 per share on February 20, 2026, bringing his directly held position to 379 shares.
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.