UBS Group AG Reports 33.2% Stake in abrdn Income Credit Strategies Fund Preferred Shares

UBS Group AG filed a Schedule 13G/A on May 1, 2026, disclosing a significant ownership stake in abrdn Income Credit Strategies Fund (ACP). As of the event date on March 31, 2026, the Swiss-based financial institution reported beneficial ownership of 531,368 shares of the fund's 5.250% Series A Perpetual Preferred Shares. This position represents a substantial 33.2% of the class. The filing was made on behalf of UBS Group AG and its wholly owned subsidiaries, UBS Financial Services Inc. and UBS Securities LLC. Notably, the reporting person indicates shared dispositive power over the entire 531,368 shares but zero voting power. This filing marks Amendment No. 14, indicating a long-standing reporting history with this security. The shares were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. This high-importance filing highlights a major institutional concentration in the fund's preferred equity structure.