PR Newswire
LONDON, United Kingdom, January 27
BLACKROCK AMERICAN INCOME TRUST PLC (LEI:549300WWOCXSC241W468)
All information is at 31 December 2025 and unaudited.
Performance at month end with net income reinvested
One Three Six One Three Five Years
Month Months Months Year Years
Net asset value -0.2 5.6 14.5 12.5 26.7 61.6
Share price 2.2 8.7 21.3 21.4 35.3 71.6
Russell 1000 Value Index -0.8 3.9 11.4 7.9 32.1 73.8
Russell 1000 Value Index -0.9 3.8 11.2 7.6 30.8 71.0
(Net 15% WHT 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: 230.01p
Net asset value – cum income: 230.37p
Share price: 228.00p
Discount to cum income NAV: 1.0%
Net yield1: 5.1%
Total assets including current year revenue: £130.0m
Net cash: 0.1%
Ordinary shares in issue2: 56,412,138
Ongoing charges3: 1.06%
1 Based on one quarterly dividend of 2.00p per share declared on 01 April 2025,
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 the share price as at close of business on 31 December
2025.
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 2024.
Sector Analysis Total Assets (%)
Financials 23.7
Industrials 14.4
Information Technology 14.2
Health Care 11.9
Communication Services 8.1
Consumer Discretionary 7.0
Consumer Staples 6.4
Energy 4.7
Materials 3.5
Utilities 2.8
Real Estate 2.8
Net Current Assets 0.5
—–
100.0
=====
Country Analysis Total Assets (%)
United States 99.5
Net Current Assets 0.5
—–
100.0
=====
#
Top 10 Holdings Country % Total Assets
Alphabet United States 4.6
JPMorgan Chase United States 3.0
Amazon United States 2.9
Berkshire Hathaway United States 2.5
Walmart United States 2.5
Bank Of America United States 2.3
Morgan Stanley United States 1.8
Meta United States 1.8
Charles Schwab United States 1.7
Micron Technology United States 1.6
Travis Cooke and Muzo Kayacan, representing the Investment Manager, noted:
For the month ended 31st December 2025, the Company lost 0.2% of its NAV but
outperformed the Russell 1000 Value Index by 0.6% net of fees.
In December 2025, U.S. equities limped into year end with a month of muted
performance. December saw a continued cooling of lower quality technology stocks
as we saw a rotation back into more defensive cyclicals like financials; JP
Morgan for example trading at nearly double the Price to Earnings of 2022. From
an alpha perspective, stock selection in Financials and Healthcare were the
strongest contributors to the month’s outperformance.
The largest single name contributor to performance still came from technology,
in particular Micron, with revised profit forecasts for 2026 causing the stock
price to rise nearly 16% post earnings off the back of the global memory
shortage1. Other notable performers were Bristol Myers and Moderna in Healthcare
and Citi and Charles Schwab from Financials. Interestingly, all of these were
identified by Large Language Model-driven thematic signals that identify themes
in broker reports, alongside other signals that look at investor positioning and
flows.
Signal wise, sentiment signals driven by the short selling activity of other
investors were top performers, while we also we also saw sizeable returns from
more top-down signals that focus on timing style factors such as value or
momentum.
1 https://www.reuters.com/business/micron-shares-up-12-europe-after-blowout
-forecast-2025-12-18/
Source: BlackRock.
27 January 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.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
https://mb.cision.com/Main/22399/4298554/3901430.pdf Release
