Filing Details
- Accession Number:
- 0001089355-25-000034
- Form Type:
- 13D Filing
- Publication Date:
- 2025-04-17 20:00:00
- Filed By:
- TORONTO DOMINION INVESTMENTS, INC.
- Company:
- Abrdn National Municipal Income Fund (NYSEMKT:VFL)
- Filing Date:
- 2025-04-18
- SEC Url:
- 13D Filing
Ownership Summary
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| TORONTO DOMINION INVESTMENTS, INC. | 0 | 990 | 0 | 990 | 990 | 100% |
| TORONTO DOMINION HOLDINGS (U.S.A.), INC. | 0 | 990 | 0 | 990 | 990 | 100% |
| TD GROUP US HOLDINGS LLC | 0 | 990 | 0 | 990 | 990 | 100% |
| THE TORONTO-DOMINION BANK | 0 | 990 | 0 | 990 | 990 | 100% |
Filing
|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)
|
abrdn National Municipal Income Fund (Name of Issuer) |
MUNI-MULTIMODE PREFERRED SHARES (Title of Class of Securities) |
24610T603 (CUSIP Number) |
Toronto-Dominion Investments, 1 Vanderbilt Avenue, New York, NY, 10017 (212) 827-7488 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
04/18/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 24610T603 |
| 1 |
Name of reporting person
TORONTO DOMINION INVESTMENTS, INC. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
 (b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
990.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
100 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
| CUSIP No. | 24610T603 |
| 1 |
Name of reporting person
TORONTO DOMINION HOLDINGS (U.S.A.), INC. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
990.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
100 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
SCHEDULE 13D
|
| CUSIP No. | 24610T603 |
| 1 |
Name of reporting person
TD GROUP US HOLDINGS LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
990.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
100 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
SCHEDULE 13D
|
| CUSIP No. | 24610T603 |
| 1 |
Name of reporting person
THE TORONTO-DOMINION BANK | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
990.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
100 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
BK |
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
MUNI-MULTIMODE PREFERRED SHARES | |
| (b) | Name of Issuer:
abrdn National Municipal Income Fund | |
| (c) | Address of Issuer's Principal Executive Offices:
1900 Market Street, Suite 200, Philadelphia,
PENNSYLVANIA
, 19103. | |
Item 1 Comment:
This Amendment No. 3 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated May 3, 2019 and filed with the SEC on May 6, 2019 (the "Original Schedule 13D"), as amended by Amendment No. 1 dated February 11, 2022 and filed with the SEC on August 22, 2022 ("Amendment No. 1"), as further amended by Amendment No. 2 dated December 20, 2022 and filed with the SEC on December 22, 2022 ("Amendment No. 2"), for Toronto Dominion Investments, Inc. ("TDI"), Toronto Dominion Holdings (U.S.A.), Inc. ("TDH"), TD Group US Holdings LLC ("TD GUS"), and The Toronto-Dominion Bank ("TD Bank") (collectively, the "Reporting Persons") with respect to Series 2049 (CUSIP No. 24610T603), Series 2049-2 (CUSIP No. 24610T702), and Series 2049-3 (CUSIP No. 24610T801) Muni-MultiMode Preferred Shares ("MMP Shares") of abrdn National Municipal Income Fund (f/k/a DELAWARE INVESTMENTS NATIONAL MUNICIPAL INCOME FUND) (the "Issuer"). The Series 2049 MMP Shares (CUSIP No. 24610T603) were redeemed in 2022 as reported in Amendment No. 2 to the Schedule 13D. The remaining Series 2049-2 (CUSIP No. 24610T702) and Series 2049-3 (CUSIP No. 24610T801) MMP Shares are covered by this filing.
This Amendment is being filed in relation to the Consent and Waiver in Connection with the Statement Establishing And Fixing The Rights And Preferences concerning Series 2049-2 (CUSIP No. 24610T702) and Consent and Waiver in Connection with the Statement Establishing And Fixing The Rights And Preferences concerning Series 2049-3 (CUSIP No. 24610T801) MMP Shares, dated April 16, 2025, entered into pursuant to the terms of the governing documents of the MMP Shares of the Issuer (the "Waivers"). | ||
| Item 2. | Identity and Background | |
| (a) | Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment. | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
Item 6 of the Original Schedule 13D is hereby amended by adding the following at the end thereof:
"The Waivers, dated as of April 16, 2025, have been entered into between the Issuer and TDI to waive certain of the Issuer's obligations with respect to the Asset Coverage level and Effective Leverage Ratio as defined in the Issuer's Statements Establishing And Fixing The Rights And Preferences Of Series 2049-2 and Series 2049-3 Muni-MultiMode Preferred Shares for the period beginning on and including April 16, 2025 and continuing to and including July 15, 2025. | ||
| Item 7. | Material to be Filed as Exhibits. | |
Item 7 of the Original Schedule 13D is hereby amended by deleting Exhibit 99.1, Exhibit 99.2, and Exhibit 99.3 thereto and the insertion of the following exhibits:
"Exhibit Description of Exhibit
99.1 Joint Filing Agreement
99.2 Certificate for TD
99.3 Secretary's Certificate for TD GUS
99.6 Consent and Waiver in Connection with the Statement Establishing And Fixing The Rights And Preferences of Series 2049-2 Muni-MultiMode Preferred Shares, dated April 16, 2025
99.7 Consent and Waiver in Connection with the Statement Establishing And Fixing The Rights And Preferences of Series 2049-3 Muni-MultiMode Preferred Shares, dated April 16, 2025 | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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