Income Research & Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 21, 2025), Income Research & Management reported 25 stock positions worth $209.6 million. Its top holding was Expedia Group Inc. (expe 0 02/15/26) at 6.5% of the portfolio, followed by Alliant Energy Corp. (lnt 3.875 03/15/26) (6.1%) and PPL Capital Funding Inc. (ppl 2.875 03/15/28) (5.9%). Compared with Q3 2024, it opened 5 new positions, sold out of 1, added to 1 and reduced 4. The biggest buy was a new position in Capital Southwest Corp. (cswc 5.125 11/15/29) and the biggest sale Akamai Technologies Inc. (akam 0.125 05/01/25) (shares −53%).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001165830
- Portfolio Value
- $209.6M (Q4 2024)
- SEC Filing
- 0001214659-25-001024 ↗ filed Jan 21, 2025
Holdings Value
Holdings 25 stocks · $209.6M
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | 6.52% | 13,780,000 | $13.7M | No change |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | 6.06% | 12,370,000 | $12.7M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | 5.92% | 11,900,000 | $12.4M | No change |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | 5.85% | 11,947,000 | $12.3M | No change |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) filed as NEW MTN FIN CORP | 5.76% | 12,042,000 | $12.1M | No change |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | 5.71% | 12,112,000 | $12.0M | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | 5.48% | 11,100,000 | $11.5M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | 5.42% | 10,000,000 | $11.4M | Reduce -10.7% |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | 5.26% | 10,755,000 | $11.0M | Reduce -8.9% |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | 4.87% | 10,000,000 | $10.2M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | 4.71% | 10,000,000 | $9.9M | No change |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | 4.27% | 8,780,000 | $8.9M | No change |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 4.12% | 9,000,000 | $8.6M | New |
| FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO | 4.04% | 8,750,000 | $8.5M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | 3.72% | 9,545,000 | $7.8M | No change |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | 3.63% | 8,500,000 | $7.6M | No change |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | 3.39% | 2,689,000 | $7.1M | Reduce -52.4% |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | 3.30% | 7,350,000 | $6.9M | Add +83.8% |
| EVERGY INC (EVRG 4.5 12/15/27) | 2.59% | 5,000,000 | $5.4M | New |
| TAXX BBLX Irm Tax-Aware S Dur ETF | 2.40% | 100,000 | $5.0M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | 2.37% | 4,706,000 | $5.0M | Reduce -52.5% |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | 2.34% | 4,900,000 | $4.9M | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | 1.26% | 2,400,000 | $2.6M | New |
| AGGS Harbor Disciplined Bond ETF | 0.97% | 50,000 | $2.0M | No change |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) filed as REALOGY GRP LLC/REALOGY CO | 0.03% | 60,000 | $53K | New |
Portfolio Sells Q3 2024 → Q4 2024
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | Reduce -52.5% | 2.37% | −2.93 |
| PENNYMAC CORP (PMT 5.5 11/01/24) | Sold out | 0.00% | −2.81 |
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | Reduce -52.4% | 3.39% | −2.70 |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | Reduce -10.7% | 5.42% | −1.12 |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | Reduce -8.9% | 5.26% | −0.76 |
Portfolio Buys Q3 2024 → Q4 2024
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | New | 4.12% | +4.12 |
| EVERGY INC (EVRG 4.5 12/15/27) | New | 2.59% | +2.59 |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | New | 2.34% | +2.34 |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | Add +83.8% | 3.30% | +1.35 |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | New | 1.26% | +1.26 |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) | New | 0.03% | +0.03 |
Notes & Other Activity Q3 2024 → Q4 2024
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Sold out | 165 | $211Kbefore exit |
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) |