REG-BlackRock American Income Trust Plc: Portfolio Update

Blackrock American Income TrustAnnouncement

26/02/2026 13:45

 

BLACKROCK AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)                
              
                                 All information is at 31 January 2026 and
unaudited.                               
                     Performance at month end with net income reinvested      
             
           

                                                       One   Month  Three  Months  Six  Months  One   Year  Three   Years  Five Years  
 Net asset value                                       2.8          4.8            13.3         10.4        24.9           68.7        
 Share price                                           2.6          9.0            18.4         18.1        34.0           78.6        
 Russell 1000 Value Index                              2.5          3.5            9.6          4.9         31.8           80.6        
 Russell 1000 Value Index (Net 15% WHT Total Return)*  2.5          3.4            9.5          4.6         30.5           77.7        

*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:               236.23p     
 Net asset value - cum income:                 236.89p     
 Share price:                                  234.00p     
 Discount to cum income NAV:                   1.2%        
 Net yield 1 :                                 5.7%        
 Total assets including current year revenue:  £133.6m     
 Net cash:                                     0.1%        
 Ordinary shares in issue 2 :                  56,412,138  
 Ongoing charges 3 :                           0.73%       

 

1                    Based on           one quarterly dividend of 3.03p per
share declared on 15 May 2025, one quarterly dividend of 3.23p per share
declared on 07 August 2025 and one quarterly dividend of 3.44p per share
declared on 03 November 2025 for the year ended 31 October 2025 and based on
one quarterly dividend of 3.55p per share declared on 02 February 2026 for the
year ending 31 October 2026, and based on the share price as at close of
business on 31 January 2026.

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 31 October 2025.

 

 

 

 

 

 

 

 

 

 

 

 

 Sector Analysis         Total Assets (%)  
 Financials              22.1              
 Industrials             15.0              
 Information Technology  14.3              
 Health Care             10.6              
 Communication Services  8.4               
 Consumer Discretionary  7.8               
 Consumer Staples        7.3               
 Energy                  5.1               
 Materials               3.3               
 Utilities               2.7               
 Real Estate             2.7               
 Net Current Assets      0.7               
                         -----             
                         100.0             
                         =====             
                                           
 Country Analysis        Total Assets (%)  
 United States           99.3              
 Net Current Assets      0.7               
                         ----              
                         100.0             
                         =====             
                                           

           #

 

 Top 10 Holdings     Country        % Total Assets  
 Alphabet            United States  4.7             
 Amazon              United States  2.8             
 JPMorgan Chase      United States  2.7             
 Walmart             United States  2.5             
 Berkshire Hathaway  United States  2.3             
 Bank Of America     United States  2.1             
 Micron Technology   United States  2.1             
 Procter & Gamble    United States  2.1             
 Chevron             United States  1.9             
 Morgan Stanley      United States  1.8             
                                                    
                                                    

Travis Cooke and Muzo Kayacan, representing the Investment Manager, noted:

 

For the month ended 31 January 2026, the Company gained 2.8% of its NAV,
outperforming the Russell 1000 Value Index by 0.3% net of fees.

 

In January 2026, U.S. large-cap equities advanced modestly, with leadership
broadening beyond the narrow concentration seen late last year. Value oriented
stocks outperformed as investors rotated toward more attractively priced areas
of the market, while gains within technology became more selective.
Performance reflected resilient economic data, stable rates and continued -
though more discriminating - enthusiasm around AI-related themes.

 

Active return was driven almost entirely by stock selection with Information
Technology and Health Care leading contributions, while Energy and Consumer
Discretionary were the main detractors.

 

Stock-level performance was driven by a combination of thematic, macro and
cross-sector linkage signals. Semiconductor and storage holdings including
Micron, Lam Research, SanDisk and Western Digital benefited from growth-timing
and sector linkage signals amid improving earnings revisions, tight memory
markets and sustained AI-related capital expenditure. In Healthcare, Abbott
and Moderna were supported by thematic and sentiment signals tied to pipeline
developments and improving risk appetite in biotech. Constellation Energy
performed well on structural demand and power pricing signals, while Wells
Fargo benefited from macro signals consistent with a stable rate environment.

 

Machine learning remained additive in signal selection, particularly within
linkage frameworks and macro indicators such as structural labour mobility
trends, as well as through creating more effective signal combination overall.

 

Source: BlackRock.

 

26 February 2026

 

Latest information is available by typing                                 
blackrock.com/uk/brai                      (http://www.blackrock.co.uk/brna)  
        on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800"
on Topic 3 (ICV terminal).                      Neither the contents of the
Manager’s website nor the contents of any website accessible from hyperlinks
on the Manager’s website (or any other website) is incorporated into, or
forms part of, this announcement.

 

 Release  (https://mb.cision.com/Main/22399/4313574/3954894.pdf)  



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