Income Research & Management
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 25, 2024), Income Research & Management reported 15 stock positions worth $148.0 million. Its top holding was Alliant Energy Corp. (lnt 3.875 03/15/26) at 9.1% of the portfolio, followed by Euronet Worldwide Inc. (eeft 0.75 03/15/49) (9.1%) and New Mountain Finance Cor (nmfc 7.5 10/15/25) (8.7%). Compared with Q4 2023, it opened 5 new positions, sold out of 2 and reduced 6. The biggest buy was a new position in Alliant Energy Corp. (lnt 3.875 03/15/26) and the biggest sale an exit from Western Digital Corp. (wdc 1.5 02/01/24).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001165830
- Portfolio Value
- $148.0M (Q1 2024)
- SEC Filing
- 0001214659-24-007539 ↗ filed Apr 25, 2024
Holdings Value
Holdings 15 stocks · $148.0M
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | 9.15% | 13,770,000 | $13.5M | New |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | 9.06% | 13,832,000 | $13.4M | Reduce -11.5% |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) filed as NEW MTN FIN CORP | 8.70% | 12,712,000 | $12.9M | Reduce -12.4% |
| SOUTHERN CO (SO 3.875 12/15/25) | 8.62% | 12,820,000 | $12.8M | New |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | 8.57% | 13,780,000 | $12.7M | Reduce -13.1% |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | 8.17% | 11,947,000 | $12.1M | Reduce -20.6% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | 7.90% | 9,911,000 | $11.7M | Reduce -10.0% |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | 7.69% | 11,900,000 | $11.4M | New |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | 7.37% | 5,649,000 | $10.9M | Reduce -33.1% |
| FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO DEL | 6.11% | 8,750,000 | $9.0M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | 5.08% | 9,545,000 | $7.5M | No change |
| PENNYMAC CORP (PMT 5.5 11/01/24) | 3.91% | 5,875,000 | $5.8M | No change |
| BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) | 3.64% | 6,000,000 | $5.4M | No change |
| TAXX BBLX Irm Tax-Aware S Dur ETF | 3.38% | 100,000 | $5.0M | New |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | 2.66% | 4,000,000 | $3.9M | New |
Other holdings (1): bonds, preferreds, convertibles and warrants · $201K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 165 | $201K | New |
Total filed on the 13F, all lines: $148.2M.
Portfolio Sells Q4 2023 → Q1 2024
| WESTERN DIGITAL CORP (WDC 1.5 02/01/24) | Sold out | 0.00% | −9.48 |
| ARES CAPITAL CORP (ARCC 4.625 03/01/24) | Sold out | 0.00% | −9.46 |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | Reduce -33.1% | 7.37% | −3.65 |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | Reduce -20.6% | 8.17% | −2.37 |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | Reduce -13.1% | 8.57% | −1.82 |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | Reduce -10.0% | 7.90% | −1.80 |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) | Reduce -12.4% | 8.70% | −1.52 |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | Reduce -11.5% | 9.06% | −1.07 |
Portfolio Buys Q4 2023 → Q1 2024
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | New | 9.15% | +9.15 |
| SOUTHERN CO (SO 3.875 12/15/25) | New | 8.62% | +8.62 |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | New | 7.69% | +7.69 |
| TAXX BBLX Irm Tax-Aware S Dur ETF | New | 3.38% | +3.38 |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | New | 2.66% | +2.66 |
Notes & Other Activity Q4 2023 → Q1 2024
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | New | 165 | $201K |
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 | 28 | $183.1M | BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN), EURONET WORLDWIDE INC (EEFT 0.75 03/15/49), UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028), ALLIANT ENERGY CORP (LNT 3.25 05/30/28), WEC ENERGY GROUP INC (WEC 3.375 06/01/28) |
| Q1 2026 | 24 | $167.3M | BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN), AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27), CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028), EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) |
| Q4 2025 | 30 | $189.0M | BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN), EURONET WORLDWIDE INC (EEFT 0.75 03/15/49), AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27), CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) |
| Q3 2025 | 33 | $203.6M | EURONET WORLDWIDE INC (EEFT 0.75 03/15/49), CMS ENERGY CORP (CMS 3.375 05/01/28), PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28), CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29), EXPEDIA GROUP INC (EXPE 0 02/15/26) |
| Q2 2025 | 38 | $373.4M | BLV, VGLT, EDV, EXPEDIA GROUP INC (EXPE 0 02/15/26), PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) |
| Q1 2025 | 27 | $234.8M | EXPEDIA GROUP INC (EXPE 0 02/15/26), PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28), ALLIANT ENERGY CORP (LNT 3.875 03/15/26), VENTAS REALTY LP (VTR 3.75 06/01/26), CMS ENERGY CORP (CMS 3.375 05/01/28) |
| Q4 2024 | 25 | $209.6M | EXPEDIA GROUP INC (EXPE 0 02/15/26), ALLIANT ENERGY CORP (LNT 3.875 03/15/26), PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28), SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25), NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) |
| Q3 2024 | 21 | $207.5M | VENTAS REALTY LP (VTR 3.75 06/01/26), EXPEDIA GROUP INC (EXPE 0 02/15/26), ALLIANT ENERGY CORP (LNT 3.875 03/15/26), BOOKING HOLDINGS INC (BKNG 0.75 05/01/25), PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) |
| Q2 2024 | 18 | $173.4M | EXPEDIA GROUP INC (EXPE 0 02/15/26), ALLIANT ENERGY CORP (LNT 3.875 03/15/26), NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25), SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25), BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) |
| Q1 2024 | 15 | $148.0M | ALLIANT ENERGY CORP (LNT 3.875 03/15/26), EURONET WORLDWIDE INC (EEFT 0.75 03/15/49), NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25), SOUTHERN CO (SO 3.875 12/15/25), EXPEDIA GROUP INC (EXPE 0 02/15/26) |