BlackRock American Income Trust Plc - Portfolio Update
All information is at
Performance at month end with net income reinvested
One Three Six One Three
Five Years
Month Months Months Year Years
Net asset value 2.1 8.8 16.8 6.7 20.8 63.7
Share price 3.9 9.4 17.8 12.5 24.6 71.2
Russell 1000 Value Index 1.8 6.7 14.3 2.9 26.6 77.7
Russell 1000 Value Index (Net 15% WHT 1.8 6.6 14.1 2.6 25.3 74.8
Total Return)*
*The Company’s performance reference index (the Russell 1000 Value Index) may be calculated on either a gross or a net return basis. Net return (NR) indices calculate the reinvestment of dividends net of withholding taxes using the tax rates applicable to non-resident institutional investors and hence give a lower total return than indices where calculations are done on a gross basis. As the Company is subject to the same withholding tax rates for the countries in which it invests, the NR basis is felt to be the most accurate, appropriate, consistent and fair comparison of performance returns for the Company.
At month end
Net asset value - capital only: 230.79p Net asset value - cum income: 230.93p Share price: 223.00p Discount to cum income NAV: 3.4% Net yield1: 5.2% Total assets including current year revenue: £130.3m Net gearing: 1.1% Ordinary shares in issue2: 56,412,138 Ongoing charges3: 1.06%
1
Based on one quarterly dividend of 2.00p per share declared on
² Excluding 38,949,167 ordinary shares held in treasury.
³ The Company’s ongoing charges calculated as a percentage of average daily net assets and using the management fee and all other operating expenses excluding finance costs, direct transaction costs, custody transaction charges, VAT recovered, taxation and certain non-recurring items for the year ended
Sector Analysis Total Assets (%) Financials 23.1 Industrials 14.5 Information Technology 14.1 Health Care 13.2 Consumer Discretionary 8.1Communication Services 7.5 Consumer Staples 6.7 Energy 4.9 Utilities 3.1 Real Estate 2.9 Materials 2.4 Net Current Liabilities -0.5 ----- 100.0 ===== Country Analysis Total Assets (%)United States 100.5 Net Current Liabilities -0.5 ----- 100.0 =====
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Top 10 Holdings Country % Total Assets Alphabet United States 4.8 JPMorgan Chase United States 3.1 Amazon United States 2.9 Berkshire Hathaway United States 2.8 Walmart United States 2.6 Bank Of America United States 2.3 Johnson & JohnsonUnited States 1.9 Meta United States 1.9 Morgan Stanley United States 1.8 Charles Schwab United States 1.7
For the month ended
In
From a sector perspective, stock selection in Energy, Financials and Industrials were the strongest contributors to the month’s active returns, with the volatility in technology proving more difficult to trade.
In terms of asset contributions to performance, Regeneron was the strongest single asset contributor, with value signals based on R&D spending and slower moving signals such as employee satisfaction drawing this out as a top overweight. Devon Energy and Cardinal Health were some of the other notable contributions.
Signal wise, we saw strong contributions again from momentum timing. Quality also performed well, particularly a signal penalising stock specific volatility. We also saw meaningful contributions from our machine learned signal combination models.
1 https://www.fool.com/investing/2025/12/02/why-oracle-stock-tumbled-23-in-november/
Source: BlackRock.
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