AEGON USA Investment Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), AEGON USA Investment Management, LLC reported 14 stock positions worth $99.1 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 88.8% of the portfolio, followed by Vanguard Total Bond Market (BND, 3.1%) and SS Blackstone Sr Loan ETF (SRLN, 2.0%). Compared with Q3 2024, it sold out of 2, added to 1 and reduced 4. The biggest buy was Highland Opport & Income (HFRO, shares +21%) and the biggest sale an exit from Eaton Vance T/M Buy-WRT (ETB).
- Most Recent 13F
- Q2 2026
- Location
- CEDAR RAPIDS, IA
- CIK
- 0001454937
- Portfolio Value
- $99.1M (Q4 2024)
- SEC Filing
- 0001454937-25-000003 ↗ filed Jan 29, 2025
Holdings Value
Holdings 14 stocks · $99.1M
| VTI VG Morningstar TS MKT ETF-US | 88.76% | 303,581 | $88.0M | Reduce -2.4% |
| BND Vanguard Total Bond Market | 3.15% | 43,389 | $3.1M | Reduce -1.8% |
| SRLN SS Blackstone Sr Loan ETF | 1.99% | 47,300 | $2.0M | No change |
| BKLN Invesco Senior Loan ETF | 1.51% | 71,000 | $1.5M | No change |
| HFRO Highland Opport & Income | 1.03% | 196,615 | $1.0M | Add +20.5% |
| VGSH Vanguard Short-Term Treasury | 0.79% | 13,500 | $785K | No change |
| CBL CBL & Associates Properties | 0.44% | 14,909 | $438K | Reduce -46.3% |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.44% | 5,575 | $438K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.41% | 1,002 | $411K | No change |
| SPHQ Invesco S&P 500 Quality ETF | 0.39% | 5,725 | $384K | No change |
| FCT First Trust SNR FL RT Inc. II | 0.31% | 30,017 | $311K | No change |
| CCO Clear Channel Outdoor Holdin | 0.30% | 215,807 | $296K | No change |
| HIX Western Asset High Inc. II | 0.26% | 60,614 | $255K | No change |
| IHRT Iheartmedia Inc. Class A | 0.21% | 106,447 | $211K | Reduce -26.1% |
Other holdings (22): bonds, preferreds, convertibles and warrants · $27.5M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 2,543 | $3.0M | Reduce -18.2% |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 2,268,000 | $2.4M | No change |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 57,000 | $2.3M | No change |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 25,913 | $2.3M | Reduce -10.4% |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | 766,000 | $2.0M | Reduce -18.2% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 1,759,000 | $1.8M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 1,847,000 | $1.8M | Reduce -21.3% |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 1,403,000 | $1.5M | New |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | 1,428,000 | $1.5M | Reduce -21.2% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 1,122,000 | $1.2M | No change |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 1,129,000 | $1.2M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 981,000 | $1.1M | No change |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 932,000 | $1.0M | New |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 905,000 | $937K | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 882,000 | $875K | Reduce -22.1% |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 746,000 | $765K | No change |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | NOTE 0.750% 3/1 · principal | 588,000 | $581K | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 500,000 | $494K | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 8,000 | $390K | No change |
| PROSPECT CAPITAL CORP (PSEC 6.375 03/01/25) | NOTE 6.375% 3/0 · principal | 217,000 | $215K | No change |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | NOTE 7.500%10/1 · principal | 155,000 | $155K | No change |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A · principal | 3,295 | $4K | Reduce -17.6% |
Total filed on the 13F, all lines: $126.6M.
Portfolio Sells Q3 2024 → Q4 2024
| ETB Eaton Vance T/M Buy-WRT Inc. | Sold out | 0.00% | −0.31 |
| CBL CBL & Associates Properties | Reduce -46.3% | 0.44% | −0.25 |
| GTN Gray Media Inc. | Sold out | 0.00% | −0.23 |
| BND Vanguard Total Bond Market | Reduce -1.8% | 3.15% | −0.16 |
| IHRT Iheartmedia Inc. Class A | Reduce -26.1% | 0.21% | −0.05 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.4% | 88.76% | +0.96 |
Portfolio Buys Q3 2024 → Q4 2024
| HFRO Highland Opport & Income | Add +20.5% | 1.03% | +0.03 |
Notes & Other Activity Q3 2024 → Q4 2024
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -18.2% | 2,543 | $3.0M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -10.4% | 25,913 | $2.3M |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Reduce -18.2% | 766,000 | $2.0M |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | Reduce -21.3% | 1,847,000 | $1.8M |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | New | 1,403,000 | $1.5M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Reduce -21.2% | 1,428,000 | $1.5M |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | New | 932,000 | $1.0M |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | Reduce -22.1% | 882,000 | $875K |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | New | 500,000 | $494K |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A · principal | Reduce -17.6% | 3,295 | $4K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $115.1M | VTI, WW, BND, SRLN, OPI |
| Q1 2026 | 17 | $101.2M | VTI, BND, WW, SRLN, VGSH |
| Q4 2025 | 18 | $111.2M | VTI, WW, BND, SRLN, BKLN |
| Q3 2025 | 16 | $114.0M | VTI, WW, BND, SRLN, BKLN |
| Q2 2025 | 15 | $98.7M | VTI, BND, SRLN, VGSH, BKLN |
| Q1 2025 | 14 | $93.1M | VTI, BND, SRLN, BKLN, VGSH |
| Q4 2024 | 14 | $99.1M | VTI, BND, SRLN, BKLN, HFRO |
| Q3 2024 | 16 | $100.3M | VTI, BND, SRLN, BKLN, HFRO |
| Q2 2024 | 21 | $98.3M | VTI, BND, SRLN, BKLN, CBL |
| Q1 2024 | 22 | $96.8M | VTI, BND, SRLN, BKLN, CBL |