Income Research & Management
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Income Research & Management reported 27 stock positions worth $234.8 million. Its top holding was Expedia Group Inc. (expe 0 02/15/26) at 5.8% of the portfolio, followed by PPL Capital Funding Inc. (ppl 2.875 03/15/28) (5.7%) and Alliant Energy Corp. (lnt 3.875 03/15/26) (5.6%). Compared with Q4 2024, it opened 4 new positions, sold out of 2 and added to 3. The biggest buy was a new position in Global Payments Inc. (gpn 1.5 03/01/31) and the biggest sale an exit from Booking Holdings Inc. (bkng 0.75 05/01/25).
- Most Recent 13F
- Q2 2026
- Location
- Boston, MA
- CIK
- 0001165830
- Portfolio Value
- $234.8M (Q1 2025)
- SEC Filing
- 0001214659-25-006203 ↗ filed Apr 22, 2025
Holdings Value
Holdings 27 stocks · $234.8M
| EXPEDIA GROUP INC (EXPE 0 02/15/26) | 5.78% | 13,780,000 | $13.6M | No change |
| PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28) | 5.67% | 11,900,000 | $13.3M | No change |
| ALLIANT ENERGY CORP (LNT 3.875 03/15/26) | 5.63% | 12,370,000 | $13.2M | No change |
| VENTAS REALTY LP (VTR 3.75 06/01/26) | 5.48% | 10,000,000 | $12.9M | No change |
| CMS ENERGY CORP (CMS 3.375 05/01/28) | 5.23% | 11,100,000 | $12.3M | No change |
| NEW MOUNTAIN FINANCE COR (NMFC 7.5 10/15/25) filed as NEW MTN FIN CORP | 5.19% | 12,042,000 | $12.2M | No change |
| EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) | 5.13% | 12,112,000 | $12.1M | No change |
| SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) | 5.07% | 11,947,000 | $11.9M | No change |
| DUKE ENERGY CORP (DUK 4.125 04/15/26) | 4.96% | 10,755,000 | $11.7M | No change |
| CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) | 4.61% | 10,000,000 | $10.8M | No change |
| AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) | 4.35% | 10,000,000 | $10.2M | No change |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | 3.77% | 9,100,000 | $8.9M | Add +85.7% |
| CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) | 3.72% | 9,000,000 | $8.7M | No change |
| BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) | 3.72% | 8,780,000 | $8.7M | No change |
| FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO | 3.65% | 8,750,000 | $8.6M | No change |
| ETSY INC (ETSY 0.25 06/15/28) | 3.45% | 9,545,000 | $8.1M | No change |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | 3.29% | 8,960,000 | $7.7M | Add +21.9% |
| ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) | 3.26% | 8,500,000 | $7.6M | No change |
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | 3.21% | 8,000,000 | $7.5M | New |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | 3.19% | 6,500,000 | $7.5M | New |
| EVERGY INC (EVRG 4.5 12/15/27) | 2.50% | 5,000,000 | $5.9M | No change |
| TAXX BBLX Irm Tax-Aware S Dur ETF | 2.15% | 100,000 | $5.1M | No change |
| TXXI BBLX Irm Tax-Aware I Dur ETF | 2.12% | 100,000 | $5.0M | New |
| TAXM Bondbloxx Ir+m Tax-Aware Mas | 2.11% | 100,000 | $5.0M | New |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | 1.86% | 3,580,000 | $4.4M | Add +49.2% |
| AGGS Harbor Disciplined Bond ETF | 0.88% | 50,000 | $2.1M | No change |
| ANYWHERE RE GRP/REALOGY (HOUS 0.25 06/15/26) filed as REALOGY GRP LLC/REALOGY CO | 0.02% | 60,000 | $56K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) | Sold out | 0.00% | −3.39 |
| AKAMAI TECHNOLOGIES INC (AKAM 0.125 05/01/25) | Sold out | 0.00% | −2.37 |
Portfolio Buys Q4 2024 → Q1 2025
| GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) | New | 3.21% | +3.21 |
| NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) | New | 3.19% | +3.19 |
| TXXI BBLX Irm Tax-Aware I Dur ETF | New | 2.12% | +2.12 |
| TAXM Bondbloxx Ir+m Tax-Aware Mas | New | 2.11% | +2.11 |
| AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) | Add +85.7% | 3.77% | +1.43 |
| UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) | Add +49.2% | 1.86% | +0.60 |
| ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) | Add +21.9% | 3.29% | −0.02 |
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) |