| Item 1. | |
| (a) | Name of issuer:
Angel Oak Financial Strategies Income Term Trust |
| (b) | Address of issuer's principal executive offices:
980 Hammond Drive, Suite 200, Atlanta, Georgia 30328 |
| Item 2. | |
| (a) | Name of person filing:
MetLife Investment Management, LLC (the "Reporting Person") |
| (b) | Address or principal business office or, if none, residence:
One MetLife Way, Whippany, New Jersey 07981 |
| (c) | Citizenship:
Delaware |
| (d) | Title of class of securities:
Series A Mandatory Redeemable Preferred Shares |
| (e) | CUSIP No.:
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| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) |  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
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| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
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| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
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| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
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| (e) |  An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
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| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
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| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
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| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
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| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
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| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
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| | |
| Item 4. | Ownership |
| (a) | Amount beneficially owned:
As of May 31, 2026, the Reporting Person may be deemed to be the beneficial owner of 2,000,000 Series A Mandatory Redeemable Preferred Shares, representing 100% of the Series A Mandatory Redeemable Preferred Shares. This percentage is calculated based on 2,000,000 Series A Mandatory Redeemable Preferred Shares outstanding. |
| (b) | Percent of class:
100% |
| (c) | Number of shares as to which the person has:
|
| | (i) Sole power to vote or to direct the vote:
2,000,000
|
| | (ii) Shared power to vote or to direct the vote:
0
|
| | (iii) Sole power to dispose or to direct the disposition of:
2,000,000
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| | (iv) Shared power to dispose or to direct the disposition of:
0
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| Item 5. | Ownership of 5 Percent or Less of a Class. |
| |
Not Applicable
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| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
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If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Reporting Person manages these Series A Mandatory Redeemable Preferred Shares on behalf of various clients, including Metropolitan Tower Life Insurance Company and Metropolitan Life Insurance Company. |
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
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Not Applicable
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| Item 8. | Identification and Classification of Members of the Group. |
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Not Applicable
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| Item 9. | Notice of Dissolution of Group. |
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Not Applicable
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