AEGON USA Investment Management, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 21, 2026), AEGON USA Investment Management, LLC reported 17 stock positions worth $101.2 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, 2.9%) and WW International Inc.-New (WW, 2.8%). Compared with Q4 2025, it opened 1 new position, sold out of 2, added to 2 and reduced 5. The biggest buy was BlackRock Corp. Hi YLD (HYT, shares +75%) and the biggest sale Invesco Senior Loan ETF (BKLN, shares −50%).

Most Recent 13F
Q2 2026
Location
CEDAR RAPIDS, IA
CIK
0001454937
Portfolio Value
$101.2M (Q1 2026)
SEC Filing
0001454937-26-000006 ↗ filed Apr 21, 2026

Holdings Value

0$50.0M$100.0M$150.0M Q1 2024: $96.8M Q1 2024 Q2 2024: $98.3M Q2 2024 Q3 2024: $100.3M Q3 2024 Q4 2024: $99.1M Q4 2024 Q1 2025: $93.1M Q1 2025 Q2 2025: $98.7M Q2 2025 Q3 2025: $114.0M Q3 2025 Q4 2025: $111.2M Q4 2025 Q1 2026: $101.2M $101.2M Q1 2026 Q2 2026: $115.1M Q2 2026

Holdings 17 stocks · $101.2M
VTI VG Morningstar TS MKT ETF-US 88.77% 280,031 $89.8M Reduce -1.5%
BND Vanguard Total Bond Market 2.93% 40,267 $3.0M Reduce -1.8%
WW WW International Inc.-New filed as WW INTL INC 2.76% 203,652 $2.8M Add +11.7%
SRLN SS Blackstone Sr Loan ETF 1.04% 26,300 $1.1M Reduce -37.8%
VGSH Vanguard Short-Term Treasury 0.78% 13,500 $790K No change
BKLN Invesco Senior Loan ETF 0.64% 31,500 $643K Reduce -50.0%
HFRO Highland Opport & Income 0.45% 79,431 $454K Reduce -9.9%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.44% 5,575 $444K No change
VUG Vanguard Mrngstar GR ETF-Sui 0.41% 957 $418K No change
SPHQ Invesco S&P 500 Quality ETF 0.37% 4,920 $370K No change
HYT BlackRock Corp. Hi YLD 0.29% 35,000 $298K Add +75.0%
XEFRX Eaton Vance Sr FLTG Rate TR 0.25% 24,120 $254K No change
HIX Western Asset High Inc. II 0.24% 60,614 $241K No change
CCO Clear Channel Outdoor Holdin 0.21% 88,592 $210K No change
EFT Eaton Vance Fltng RT Inc. TR 0.19% 17,768 $191K No change
IHRT Iheartmedia Inc. Class A 0.13% 46,764 $137K No change
EAF Graftech International Ltd. 0.10% 15,000 $102K New
Other holdings (24): bonds, preferreds, convertibles and warrants · $23.3M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 2,248$2.7MNo change
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 1,403,000$1.7MNo change
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal 1,800,000$1.6MNo change
DUKE ENERGY CORP (DUK 4.125 04/15/26) NOTE 4.125% 4/1 · principal 1,434,000$1.6MNo change
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D 37,400$1.5MNo change
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal 1,129,000$1.3MNo change
APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) SER A MAND CNV 22,713$1.3MNo change
PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) NOTE 2.875% 3/1 · principal 1,122,000$1.3MNo change
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal 932,000$1.3MNo change
VENTAS REALTY LP (VTR 3.75 06/01/26) NOTE 3.750% 6/0 · principal 761,000$1.1MNo change
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal 905,000$1.0MNo change
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 621,000$862KNo change
SOUTHERN CO (SO 4.5 06/15/27) NOTE 4.500% 6/1 · principal 750,000$833KNo change
ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) 6.75 SE B PFD 22,700$824KNo change
SOUTHERN CO (SO 7.125 12/15/28 A) UNIT 12/15/2028 14,530$750KNew
WEC ENERGY GROUP INC (WEC 4.375 06/01/29) NOTE 4.375% 6/0 · principal 500,000$619KNo change
WEC ENERGY GROUP INC (WEC 4.375 06/01/27) NOTE 4.375% 6/0 · principal 500,000$603KNo change
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) NOTE 3.625% 6/1 · principal 500,000$499KNo change
MERITAGE HOMES CORP (MTH 1.75 05/15/28) NOTE 1.750% 5/1 · principal 475,000$457KNo change
NEXTERA ENERGY INC (NEE 7.299 06/01/27) UNIT 06/01/2027 8,000$449KNo change
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) NOTE 4.750% 6/1 · principal 350,000$401KNo change
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) NOTE 1.750% 8/1 · principal 390,000$387KNo change
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) NOTE 5.125%11/1 · principal 185,000$189KNo change
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A · principal 2,870$3KNo change

Total filed on the 13F, all lines: $124.5M.

Portfolio Sells Q4 2025 → Q1 2026
BKLN Invesco Senior Loan ETF Reduce -50.0% 0.64% −0.55
SRLN SS Blackstone Sr Loan ETF Reduce -37.8% 1.04% −0.53
FCT First Trust SNR FL RT Inc. II Sold out 0.00% −0.27
RXT Rackspace Technology Inc. Sold out 0.00% −0.17
HFRO Highland Opport & Income Reduce -9.9% 0.45% −0.03
BND Vanguard Total Bond Market Reduce -1.8% 2.93% +0.20
VTI VG Morningstar TS MKT ETF-US Reduce -1.5% 88.77% +3.00

Portfolio Buys Q4 2025 → Q1 2026
HYT BlackRock Corp. Hi YLD Add +75.0% 0.29% +0.13
EAF Graftech International Ltd. New 0.10% +0.10
WW WW International Inc.-New Add +11.7% 2.76% −2.03

Notes & Other Activity Q4 2025 → Q1 2026
FORD MOTOR COMPANY (F 0 03/15/26) NOTE 3/1 · principal Sold out 1,847,000 $1.9Mbefore exit
EXPEDIA GROUP INC (EXPE 0 02/15/26) NOTE 2/1 · principal Sold out 882,000 $984Kbefore exit
ALLIANT ENERGY CORP (LNT 3.875 03/15/26) NOTE 3.875% 3/1 · principal Sold out 746,000 $775Kbefore exit
SOUTHERN CO (SO 7.125 12/15/28 A) UNIT 12/15/2028 New 14,530 $750K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 19$115.1MVTI, WW, BND, SRLN, OPI
Q1 2026 17$101.2MVTI, BND, WW, SRLN, VGSH
Q4 2025 18$111.2MVTI, WW, BND, SRLN, BKLN
Q3 2025 16$114.0MVTI, WW, BND, SRLN, BKLN
Q2 2025 15$98.7MVTI, BND, SRLN, VGSH, BKLN
Q1 2025 14$93.1MVTI, BND, SRLN, BKLN, VGSH
Q4 2024 14$99.1MVTI, BND, SRLN, BKLN, HFRO
Q3 2024 16$100.3MVTI, BND, SRLN, BKLN, HFRO
Q2 2024 21$98.3MVTI, BND, SRLN, BKLN, CBL
Q1 2024 22$96.8MVTI, BND, SRLN, BKLN, CBL