AEGON USA Investment Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 21, 2025), AEGON USA Investment Management, LLC reported 15 stock positions worth $98.7 million. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 90.4% of the portfolio, followed by Vanguard Total Bond Market (BND, 3.1%) and SS Blackstone Sr Loan ETF (SRLN, 1.2%). Compared with Q1 2025, it opened 1 new position, added to 2 and reduced 4. The biggest buy was a new position in Eaton Vance Sr FLTG Rate TR (XEFRX) and the biggest sale SS Blackstone Sr Loan ETF (SRLN, shares −38%).
- Most Recent 13F
- Q2 2026
- Location
- CEDAR RAPIDS, IA
- CIK
- 0001454937
- Portfolio Value
- $98.7M (Q2 2025)
- SEC Filing
- 0001454937-25-000011 ↗ filed Jul 21, 2025
Holdings Value
Holdings 15 stocks · $98.7M
| VTI VG Morningstar TS MKT ETF-US | 90.42% | 293,601 | $89.2M | Reduce -2.2% |
| BND Vanguard Total Bond Market | 3.13% | 42,012 | $3.1M | Reduce -1.5% |
| SRLN SS Blackstone Sr Loan ETF | 1.23% | 29,300 | $1.2M | Reduce -38.0% |
| VGSH Vanguard Short-Term Treasury | 0.80% | 13,500 | $794K | No change |
| BKLN Invesco Senior Loan ETF | 0.76% | 36,000 | $753K | Reduce -49.3% |
| HFRO Highland Opport & Income | 0.56% | 105,895 | $551K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.51% | 1,152 | $505K | No change |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | 0.46% | 5,575 | $450K | No change |
| SPHQ Invesco S&P 500 Quality ETF | 0.41% | 5,725 | $408K | No change |
| CBL CBL & Associates Properties | 0.38% | 14,909 | $379K | No change |
| CCO Clear Channel Outdoor Holdin | 0.35% | 298,191 | $349K | Add +24.1% |
| FCT First Trust SNR FL RT Inc. II | 0.31% | 30,017 | $305K | No change |
| HIX Western Asset High Inc. II | 0.26% | 60,614 | $260K | No change |
| IHRT Iheartmedia Inc. Class A | 0.21% | 117,010 | $206K | Add +9.9% |
| XEFRX Eaton Vance Sr FLTG Rate TR | 0.18% | 14,765 | $179K | New |
Other holdings (31): bonds, preferreds, convertibles and warrants · $31.2M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 2,488 | $3.0M | No change |
| SOUTHERN CO (SO 3.875 12/15/25) | NOTE 3.875%12/1 · principal | 2,268,000 | $2.5M | No change |
| NEXTERA ENERGY INC (NEE 6.926 09/01/25) | UNIT 09/01/2025 | 57,000 | $2.3M | No change |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | NOTE 0.875%12/0 · principal | 1,403,000 | $2.0M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) | NOTE 3/1 · principal | 1,847,000 | $1.8M | No change |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 22,713 | $1.7M | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | NOTE 1.500% 3/0 · principal | 1,800,000 | $1.6M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | 1,434,000 | $1.5M | Reduce -18.5% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 27,000 | $1.5M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | NOTE 4.250% 8/1 · principal | 1,129,000 | $1.2M | No change |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 22,700 | $1.2M | New |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | NOTE 2.875% 3/1 · principal | 1,122,000 | $1.2M | No change |
| EVERGY INC (EVRG 4.5 12/15/27) | NOTE 4.500%12/1 · principal | 932,000 | $1.1M | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | NOTE 3.375% 5/0 · principal | 905,000 | $962K | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | 761,000 | $910K | Reduce -22.4% |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | NOTE 2/1 · principal | 882,000 | $857K | No change |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | 750,000 | $825K | New |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | NOTE 3.875% 3/1 · principal | 746,000 | $766K | No change |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | NOTE 3.000% 3/0 · principal | 621,000 | $706K | No change |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | 500,000 | $576K | New |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | 500,000 | $563K | New |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | NOTE 3.625% 6/1 · principal | 500,000 | $502K | No change |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | 475,000 | $460K | New |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | 350,000 | $379K | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 8,000 | $376K | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | 390,000 | $361K | New |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | 185,000 | $182K | New |
| 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 | 3,070 | $4K | No change |
| SUNNOVA ENERGY INTL INC (NOVA 0.25 12/01/26) | NOTE 0.250%12/0 · principal | 1,000,000 | $3K | No change |
| SUNNOVA ENERGY INTL INC (NOVA 2.625 02/15/28) | NOTE 2.625% 2/1 · principal | 1,000,000 | $3K | No change |
Total filed on the 13F, all lines: $129.9M.
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
Notes & Other Activity Q1 2025 → Q2 2025
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | NOTE 0.750% 5/0 · principal | Sold out | 766,000 | $1.9Mbefore exit |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | NOTE 4.125% 4/1 · principal | Reduce -18.5% | 1,434,000 | $1.5M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | New | 27,000 | $1.5M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | New | 22,700 | $1.2M |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | NOTE 1.250% 5/0 · principal | Sold out | 1,128,000 | $1.1Mbefore exit |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | NOTE 3.750% 6/0 · principal | Reduce -22.4% | 761,000 | $910K |
| SOUTHERN CO (SO 4.5 06/15/27) | NOTE 4.500% 6/1 · principal | New | 750,000 | $825K |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/29) | NOTE 4.375% 6/0 · principal | New | 500,000 | $576K |
| WEC ENERGY GROUP INC (WEC 4.375 06/01/27) | NOTE 4.375% 6/0 · principal | New | 500,000 | $563K |
| MERITAGE HOMES CORP (MTH 1.75 05/15/28) | NOTE 1.750% 5/1 · principal | New | 475,000 | $460K |
| PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) | NOTE 4.750% 6/1 · principal | New | 350,000 | $379K |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | NOTE 1.750% 8/1 · principal | New | 390,000 | $361K |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | NOTE 5.125%11/1 · principal | New | 185,000 | $182K |
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 |