Income Research & Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 22, 2024), Income Research & Management reported 21 stock positions worth $207.5 million. Its top holding was Ventas Realty LP (vtr 3.75 06/01/26) at 6.5% of the portfolio, followed by Expedia Group Inc. (expe 0 02/15/26) (6.3%) and Alliant Energy Corp. (lnt 3.875 03/15/26) (6.2%). Compared with Q2 2024, it opened 4 new positions and sold out of 1. The biggest buy was a new position in American Water Capital C (awk 3.625 06/15/26) and the biggest sale an exit from Southern Co. (so 3.875 12/15/25).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001165830
- Portfolio Value
- $207.5M (Q3 2024)
- SEC Filing
- 0001214659-24-017767 ↗ filed Oct 22, 2024
Holdings Value
Holdings 21 stocks · $207.5M
| VENTAS REALTY LP (VTR 3.75 06/01/26) | 6.55% | 11,200,000 | $13.6M | No change |
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | 6.34% | 13,780,000 | $13.2M | No change |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | 6.23% | 12,370,000 | $12.9M | No change |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | 6.09% | 5,649,000 | $12.6M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | 6.07% | 11,900,000 | $12.6M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | 6.02% | 11,800,000 | $12.5M | No change |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) filed as NEW MTN FIN CORP | 5.85% | 12,042,000 | $12.1M | No change |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | 5.80% | 11,947,000 | $12.0M | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | 5.73% | 11,100,000 | $11.9M | No change |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | 5.72% | 12,112,000 | $11.9M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | 5.31% | 9,911,000 | $11.0M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | 4.93% | 10,000,000 | $10.2M | New |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | 4.88% | 10,000,000 | $10.1M | New |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | 4.69% | 8,780,000 | $9.7M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO | 4.13% | 8,750,000 | $8.6M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | 3.75% | 9,545,000 | $7.8M | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | 3.70% | 8,500,000 | $7.7M | New |
| PENNYMAC CORP (PMT 5.5 11/01/24) | 2.81% | 5,875,000 | $5.8M | No change |
| TAXX BBLX Irm Tax-Aware S Dur ETF | 2.45% | 100,000 | $5.1M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | 1.95% | 4,000,000 | $4.0M | No change |
| AGGS Harbor Disciplined Bond ETF | 1.02% | 50,000 | $2.1M | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $211K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 165 | $211K | New |
Total filed on the 13F, all lines: $207.7M.
Portfolio Sells Q2 2024 → Q3 2024
| SOUTHERN CO (SO 3.875 12/15/25) | Sold out | 0.00% | −6.76 |
Portfolio Buys Q2 2024 → Q3 2024
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | New | 4.93% | +4.93 |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | New | 4.88% | +4.88 |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | New | 4.69% | +4.69 |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | New | 3.70% | +3.70 |
Notes & Other Activity Q2 2024 → Q3 2024
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | New | 165 | $211K |
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) |