# EDGAR Filing Document

**Accession Number:** 0000225030
**File Stem:** 0001999371-25-019975
**Filing Date:** 2025-12
**Character Count:** 15904
**Document Hash:** 7b2b22cbf07c91a0ecf44739bc1593d2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001999371-25-019975.hdr.sgml**: 20251210

**ACCESSION NUMBER**: 0001999371-25-019975

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 16

**FILED AS OF DATE**: 20251210

**DATE AS OF CHANGE**: 20251210

**EFFECTIVENESS DATE**: 20251210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AFL CIO HOUSING INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000225030

**ORGANIZATION NAME:**
- **EIN:** 526220193
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-59762
- **FILM NUMBER:** 251561310

**BUSINESS ADDRESS:**
- **STREET 1:** 1227 25TH STREET, NW
- **STREET 2:** SUITE 500
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20037
- **BUSINESS PHONE:** (202) 331-8055

**MAIL ADDRESS:**
- **STREET 1:** 1227 25TH STREET, NW
- **STREET 2:** SUITE 500
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20037

## Series and Classes Contracts Data

### AFL CIO HOUSING INVESTMENT TRUST (Series ID: S000009768)

---

|  |  |
|:---|:---|
| Class Name                       | Class ID   |
| AFL CIO HOUSING INVESTMENT TRUST | C000026832 |

---

## Series and Classes Contracts Data

### AFL CIO HOUSING INVESTMENT TRUST (Series ID: S000009768)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000026832 | AFL CIO HOUSING INVESTMENT TRUST |  |

![](aflcio_01.jpg)

[FUND NAME] [DATE ], 2025 Project Picture [Project Name], [Project City, State]

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• Generate competitive risk - adjusted total returns versus its benchmark – primary objective • Create work for union members in the construction trades and related industries • Support housing construction including affordable and workforce Objectives • Construct and manage a portfolio with: • superior credit quality • higher yield • similar interest rate risk relative to its benchmark Strategy • Specialize in directly - sourced multifamily construction mortgage - backed securities (MBS) that create jobs and housing (including affordable) • multifamily MBS provide an income advantage compared to other securities with comparable credit and interest rate risk • Offer diversification to investors and i nvests in highly liquid securities Core Competency HIT Objectives and Strategy 2 [Project Name] [Project City, State] Project Picture

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65.3% 12.5% 13.3% 8.3% 0.6% Sector Allocation\*\* Short Term U.S. Treasury SF MBS 41.7% 50.1% 3.7% 0.6% 3.9% Credit Quality\* Not Rated (Direct Loans) Cash & Cash Equivalents State / Local Government (AAA/AA) Agency (including FNMA & Freddie Mac) US Government (including Treasury, FHA & GNMA) Multifamily Construction Investments Multifamily Permanent MBS HIT Portfolio Statistics, as of September 30, 2025 3 96% AA or Better 78% Multifamily \* Based on total investments and including unfunded commitments. \*\* Based on total investments and includes unfunded commitments but does not include U.S. Treasury futures contracts. Includes 9.5% in floating rate investments.

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AA Index ^ Bloomberg Agg^ HIT AA Index ^ Bloomberg Agg^ HIT Similar Interest Rate Risk Higher Credit Quality 5.86 5.99 5.99 Effective Duration 100% 76.6% 96.1% AA or Better 0.33 0.24 0.19 Convexity 0% 23.4% 3.9% A & Below/Not Rated Similar Prepayment Risk Higher Yield 67% 76% 76% Prepayment Protection 3.59% 3.88% 4.19% Current Yield 33% 24% 24% No Prepayment Protection 4.23% 4.39% 4.91% Yield to Worst 0.12% 0.30% 0.79% Option Adjusted Spread Relative Value – Fundamentals vs. Benchmark As of September 30, 2025 4 AA Index represents the AA Component of the Bloomberg US Aggregate Bond Index The calculation of the HIT yield herein represents a widely accepted portfolio characteristic based on coupon rate and current price and is not current yield or other performance data as defined by the SEC in Rule 482 . ^ Source : Bloomberg Index Services Limited

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Multifamily Attractive Relative To Historically Tight Fixed Income Spreads 75 80 31 44 125 0 20 40 60 80 100 120 140 160 180 200 Sep-20 Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Fixed Income Spreads and 5 Year Percentile Rank Spread to Treasury in Basis Points GNMA Multifamily Permanent: 50 th Percentile Corporate Credit\*: 1 st Percentile FNMA Multifamily 10/9.5 DUS: 26th Percentile MBS OAS\*: 21 st Percentile Source: HIT and Securities Dealers \*Bloomberg Agg Sectors GNMA Multifamily Construction: 48 th Percentile 5

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HIT Performance Relative to Benchmark 7.64% 6.13% 5.07% 0.11% 2.09% 7.33% 5.80% 4.73% - 0.22% 1.73% 7.46% 5.70% 4.56% - 0.31% 1.99% -1.0% 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% 7.0% 8.0% YTD 1-year 3-year 5-year 10-year HIT Gross HIT Net Bloomberg Aggregate^ 6 Total Returns vs. Benchmark As of November 30, 2025 HIT's net performance for the 1 - , 3 - , 5 - , and 10 - year periods ended November 30 , 2025 was 5 . 80 % , 4 . 73 % , - 0 . 22 % , and 1 . 73 % , respectively . The performance data quoted represents past performance and is no guarantee of future results . Investment results and principal value will fluctuate so that units in the HIT, when redeemed, may be worth more or less than the original cost . The HIT's current performance data may be lower or higher than the performance data quoted . Performance data current to the most recent month - end is available from the HIT's website at www . aflcio - hit . com/investors/ . Gross performance figures do not reflect the deduction of HIT expenses . Net performance figures reflect the deduction of HIT expenses and are the performance returns that HIT's investors obtain . Information about HIT expenses can be found on page 1 of the HIT's current prospectus . ^ Source : Bloomberg Index Services Limited

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\* See slide 4 for more detail on current portfolio yield performance . \*\* Includes projects receiving NMTC allocations by HIT subsidiary Building America CDE, Inc . Job and economic impacts provided are estimates calculated using IMPLAN, an input - output model based on HIT and HIT subsidiary Building America CDE, Inc . project data . Data current as of September 30 , 2025 . HIT's net performance for the 1 - , 3 - , 5 - , and 10 - year periods ended November 30 , 2025 was 5 . 80 % , 4 . 73 % , - 0 . 22 % , and 1 . 73 % , respectively . The performance data quoted represents past performance and is no guarantee of future results . Investment results and principal value will fluctuate so that units in the HIT, when redeemed, may be worth more or less than the original cost . The HIT's current performance data may be lower or higher than the performance data quoted . Performance data current to the most recent month - end is available from the HIT's website at www . aflcio - hit . com/investors/ . Gross performance figures do not reflect the deduction of HIT expenses . Net performance figures reflect the deduction of HIT expenses and are the performance returns that HIT's investors obtain . Information about HIT expenses can be found on page 1 of the HIT's current prospectus . ^ Source : Bloomberg Index Services Limited Higher yield - Portfolio yield of 4.91% remains attractive \* - Yield advantage of 52 bps relative to the Bloomberg Aggregate^ Superior credit quality vs. the Bloomberg Aggregate - 96.1% AA or better, including government/agency insured, relative to the benchmark's 76.6% - Provides diversification from corporate credit within fixed income Addressing the lack of housing, generating job opportunities - 38 projects under construction at quarter - end:\*\* - Creating or preserving 5,372 units of housing (56% of housing projects have affordable units) - Generating an estimated 22.0 million hours of union construction work Why HIT Now? 7

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Important Notice . The information furnished in this report is provided as a courtesy only to assist you in your internal reviews and does not constitute a statement of your account . Unless expressly stated otherwise, the HIT makes no representations, express or implied, as to the accuracy of the information being reported . In accordance with the Investment Company Act of 1940 , as amended, the HIT files numerous reports with the Securities and Exchange Commission, including, among other things, financial and performance information on Form N - CSR and its complete schedule of portfolio holdings on Form N - PORT . Performance for Periods Ending [Date] Since Inception [Date] 10 Year 5 Year 3 Year 1 Year [x.xx]% [x.xx]% [x.xx]% [x.xx]% [x.xx]% Net Participant Dollar - Weighted [$xxxxxx] Market Value of Units Held at [Date]: [$xxxxxx] Investments Since Inception: [$xxxxxx] Withdrawals Since Inception: [$xxxxxx] Income Earned Since Inception: HIT's net performance for the 1 - , 3 - , 5 - , and 10 - year periods ended November 30 , 2025 was 5 . 80 % , 4 . 73 % , - 0 . 22 % , and 1 . 73 % , respectively . The performance data quoted represents past performance and is no guarantee of future results . Investment results and principal value will fluctuate so that units in the HIT, when redeemed, may be worth more or less than the original cost . The HIT's current performance data may be lower or higher than the performance data quoted . Performance data current to the most recent month - end is available from the HIT's website at www . aflcio - hit . com/investors/ . Gross performance figures do not reflect the deduction of HIT expenses . Net performance figures reflect the deduction of HIT expenses and are the performance returns that HIT's investors obtain . Information about HIT expenses can be found on page 1 of the HIT's current prospectus . [Fund Name] 8

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SUPPLEMENTAL MATERIALS [Project Name] [Project City, State] 9

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Nationwide Total Major Markets Total Twin Cities New York City Chicago Boston Bay Area (1984 - 2025) 626 302 87 80 ^ 68 44 23 # of Projects $11.5B $6.6B $1.6B $2.2B $1.2B $876.5M $651.8M HIT Investment ° $23.2B $14.5B $2.7B $5.5B $2.9B $2.3B $1.1B Total Development Cost 214.0M 104.4M 23.3M 27.0M 25.0M 18.0M 11.2M Union Construction Hours 245,117 122,978 29,455 30,188 28,672 21,872 12,791 Total Jobs Created 131,298 (67%) 81,379 (78%) 12,261 (51%) 45,444 (91%) 14,896 (68%) 5,097 (90%) 3,681 (32%) Housing Units (% affordable) $50.6B $25.9B $6.0B $6.7B $5.7B $4.9B $2.7B Total Economic Impact HIT's Investment in Major Markets\* ^ Includes purchase of securities for the preservation of affordable housing ° Includes NMTC allocations by HIT subsidiary Building America CDE, Inc. as follows: $21M in Boston, $10M in Chicago, $8M in N YC , $5M in Twin Cities, $270M nationwide \*Source: Pinnacle Economics, Inc., and HIT. Job and economic impacts provided are estimates calculated using IMPLAN, an input - ou tput model based on HIT and HIT subsidiary Building America CDE, Inc. project data. Data is since inception, current as of September 30, 2025. Economic impact data is in 2024 dollars and all other figures are nom inal. 10

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HIT's Investors, as of September 30, 2025 $2,506 34% $1,020 14% $1,652 23% $1,701 23% $435 6% $ in Millions. Plan types include pension , health & welfare, annuity, among others. Investors should consider the HIT's investment objectives, risks and expenses carefully before investing . Investors may view the HIT's current prospectus, which contains more complete information, on its website at www . aflcio - hit . com and may obtain a copy from the HIT by calling the Marketing and Investor Relations Department collect at 202 - 331 - 8055 . Investors should read the current prospectus carefully before investing . Data current as of September 30 , 2025 . [Project Name] [Project City, State] Project Picture 11 Industrial/ Other Building Trades - Local Building Trades - National Public Service

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Leadership Chang Suh, CFA Chief Executive Officer and Chief Investment Officer 30+ years of experience in the financial services industry, specializing in the commercial mortgage industry and housing finance Erica Khatchadourian Chief Operating Officer 35+ years of experience in operations, general and personnel management, policy development and accounting for financial transactions, with 32 years at the HIT Lesyllee White Chief Marketing Officer 30+ years of business development experience in the financial services industry, with 25 years at the HIT Julissa Servello Managing Director - Investor Relations 25+ years of experience at the HIT engaging with investors, consultants and stake holders William K. Pierce, CFA Senior Portfolio Manager 10+ years of experience in financial markets, managing and trading investments, with 5 years at the HIT Harpreet Peleg, CFA Chief Financial Officer 25+ years of experience in accounting, finance, operations, regulatory reporting, and compliance with 20 years at the HIT; Leads HIT's subsidiary, Building America CDE John Hanley Senior Managing Director – Multifamily Origination 35+ years of experience investing union pension funds in commercial real estate developments, including 13 years at National Real Estate Advisors and 18 years at the HIT Nick Milano General Counsel 30 years of legal experience in the financial services sector including compliance with regulations under federal and state securities laws, with 16 years at the HIT 12

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Costs of Investing in the HIT • As an internally managed mutual fund, the HIT does not charge a fixed fee; t he HIT passes along only its costs of operations • All returns over actual costs are distributed on a pro rata basis to investors based on units held, and all expenses are borne in proportion to the number of units held • Each year, the HIT Board of Trustees reviews and approves its budget for the upcoming year • For the year ended December 31, 2024, the expense ratio was 32 bps Expenses may be higher or lower in any given year . The HIT provides additional information about its expense ratio in its Registration Statement and Shareholder Reports, which may be found at www . aflcio - hit . com/shareholder - reports/ and at www . sec . gov . 13 [Project Name] [Project City, State]

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www.aflcio - hit.com AFL - CIO Housing Investment Trust 1227 25 th Street, NW, Suite 500 Washington, DC 20037 (202) 331 - 8055 [Name, Title Contact information] Investors should consider the HIT's investment objectives, risks and expenses carefully before investing . Investors may view the HIT's current prospectus, which contains more complete information, on its website at www . aflcio - hit . com and may obtain a copy from the HIT by calling the Marketing and Investor Relations Department collect at 202 - 331 - 8055 . Investors should read the current prospectus carefully before investing . This document contains forecasts, estimates, opinions, and/or other information that is subjective . Statements concerning economic, financial, or market trends are based on current conditions, which will fluctuate . There is no guarantee that such statements will be applicable under all market conditions, especially during periods of downturn . It should not be considered as investment advice or as a recommendation of any kind . ^ Bloomberg Index Services Limited . BLOOMBERG® is a trademark and service mark of Bloomberg Finance L . P . and its affiliates (collectively "Bloomberg") . Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices . Bloomberg does not approve or endorse this material or guarantee the accuracy or completeness of any information herein, nor does Bloomberg make any warranty, express or implied, as to the results to be obtained therefrom, and, to the maximum extent allowed by law, Bloomberg shall not have any liability or responsibility for injury or damages arising in connection therewith . 14