SCHEDULE: Karpus Management Reports 16.50% Ownership in Angel Oak Financial Strategies Income Term Trust

Karpus Management, Inc. has filed a Schedule 13D disclosing beneficial ownership of 5,513,520.11 common shares, representing 16.50% of Angel Oak Financial Strategies Income Term Trust.

Summary

• Karpus Management, Inc. beneficially owns 5,513,520.11 shares of Angel Oak Financial Strategies Income Term Trust as of July 14, 2025.
• This represents approximately 16.50% of the outstanding common shares.
• The shares were accumulated on behalf of accounts managed by Karpus under limited powers of attorney.
• The aggregate purchase price of the shares is approximately $69,527,977.90, excluding brokerage commissions.
• Karpus may increase or decrease its position in the Issuer through open market purchases, private transactions, or otherwise.
• Karpus may engage in discussions with management, the Board of Directors, other shareholders and other relevant parties concerning its investment in the Common Shares and the Issuer.

Sentiment

Score: 6

Explanation: Neutral sentiment. The document is a standard disclosure of ownership and intentions, without strong positive or negative indicators.

Positives

• Karpus Management's significant investment demonstrates confidence in Angel Oak Financial Strategies Income Term Trust.
• Karpus intends to review its investment in the Issuer on an ongoing basis, suggesting a long-term perspective.

Future Outlook

Karpus intends to review its investment in the Issuer on an ongoing basis and may increase or decrease their position in the Issuer through, among other things, the purchase or sale of Shares on the open market or in private transactions or otherwise.

Management Comments

• Daniel L. Lippincott (President and Chief Investment Officer of Karpus Management, Inc.) certified that the information set forth in the statement is true, complete, and correct.

Industry Context

This filing is typical for investment firms that acquire a significant stake in a publicly traded company. It provides transparency to the market regarding ownership and potential influence.

Comparison to Industry Standards

• Similar filings are common among investment advisors like BlackRock, Vanguard, and State Street when their holdings in a company exceed 5%.
• The level of detail provided in this Schedule 13D is consistent with regulatory requirements for disclosing beneficial ownership.
• The stated intentions of Karpus Management to engage with management and other stakeholders are also typical of activist investors or those seeking to influence corporate strategy.

Stakeholder Impact

• Shareholders: Increased transparency regarding ownership and potential changes in corporate strategy.
• Management: Potential for engagement and influence from a significant shareholder.
• Board of Directors: Potential for discussions regarding board appointments and governance.

Next Steps

• Karpus Management will continue to review its investment in Angel Oak Financial Strategies Income Term Trust.
• Karpus Management may engage in discussions with management, the Board of Directors, other shareholders, and other relevant parties.
• Karpus Management may increase or decrease its position in the Issuer.

Key Dates

Recommendation

Keywords

Schedule 13D, Beneficial Ownership, Investment Management, Angel Oak Financial Strategies Income Term Trust, Karpus Management, Common Shares