Income Research & Management

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 17, 2026), Income Research & Management reported 24 stock positions worth $167.3 million. Its top holding was Bofa Finance LLC (bac 0.6 05/25/27 Mtn) at 7.0% of the portfolio, followed by Akamai Technologies Inc. (akam 0.375 09/01/27) (7.0%) and Capital Southwest Corp. (cswc 5.125 11/15/29) (6.2%). Compared with Q4 2025, it sold out of 6, added to 3 and reduced 1. The biggest buy was Uber Technologies Inc. (uber 0.875 12/01/28 2028) (shares +93%) and the biggest sale an exit from Duke Energy Corp. (duk 4.125 04/15/26).

Most Recent 13F
Q2 2026
Location
Boston, MA
CIK
0001165830
Portfolio Value
$167.3M (Q1 2026)
SEC Filing
0001214659-26-004758 ↗ filed Apr 17, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $148.0M Q1 2024 Q2 2024: $173.4M Q2 2024 Q3 2024: $207.5M Q3 2024 Q4 2024: $209.6M Q4 2024 Q1 2025: $234.8M Q1 2025 Q2 2025: $373.4M Q2 2025 Q3 2025: $203.6M Q3 2025 Q4 2025: $189.0M Q4 2025 Q1 2026: $167.3M $167.3M Q1 2026 Q2 2026: $183.1M Q2 2026

Holdings 24 stocks · $167.3M
BOFA FINANCE LLC (BAC 0.6 05/25/27 MTN) 7.01% 9,803,000 $11.7M No change
AKAMAI TECHNOLOGIES INC (AKAM 0.375 09/01/27) 6.97% 10,068,000 $11.7M No change
CAPITAL SOUTHWEST CORP (CSWC 5.125 11/15/29) 6.17% 10,127,000 $10.3M No change
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) 6.15% 8,560,000 $10.3M Add +93.2%
EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) 6.11% 12,112,000 $10.2M No change
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) 6.01% 10,280,000 $10.0M No change
BLOCK INC (XYZ 0.25 11/01/27) 5.77% 10,325,000 $9.6M Add +21.7%
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) 5.57% 9,343,000 $9.3M Reduce -3.4%
ENVISTA HOLDINGS CORP (NVST 1.75 08/15/28) 5.17% 8,715,000 $8.6M No change
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) 4.91% 5,920,000 $8.2M No change
ETSY INC (ETSY 0.25 06/15/28) 4.45% 8,342,000 $7.4M No change
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) 4.12% 7,830,000 $6.9M No change
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) 4.12% 6,978,000 $6.9M No change
MERITAGE HOMES CORP (MTH 1.75 05/15/28) 3.58% 6,215,000 $6.0M No change
EVERGY INC (EVRG 4.5 12/15/27) 3.49% 4,322,000 $5.8M No change
DEXCOM INC (DXCM 0.375 05/15/28) 3.36% 6,101,000 $5.6M No change
TAXX BBLX Irm Tax-Aware S Dur ETF 3.02% 100,000 $5.1M No change
TXXI BBLX Irm Tax-Aware I Dur ETF 3.00% 100,000 $5.0M No change
TAXM Bondbloxx Ir+m Tax-Aware Mas 2.98% 100,000 $5.0M No change
GLADSTONE CAPITAL CORP (GLAD 5.875 10/01/30) 2.70% 4,830,000 $4.5M No change
PINNACLE WEST CAPITAL (PNW 4.75 06/15/27) 2.07% 3,031,000 $3.5M No change
HAEMONETICS CORP (HAE 2.5 06/01/29) 1.86% 3,270,000 $3.1M No change
AGGS Harbor Disciplined Bond ETF 1.22% 50,000 $2.0M No change
ETSY INC (ETSY 0.125 09/01/27) 0.17% 305,000 $284K Add +35.6%
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.4M (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 803$929KNo change
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 355$423KNo change

Total filed on the 13F, all lines: $168.6M.

Portfolio Sells Q4 2025 → Q1 2026
DUKE ENERGY CORP (DUK 4.125 04/15/26) Sold out 0.00% −4.83
EXPEDIA GROUP INC (EXPE 0 02/15/26) Sold out 0.00% −4.43
VENTAS REALTY LP (VTR 3.75 06/01/26) Sold out 0.00% −4.09
FORD MOTOR COMPANY (F 0 03/15/26) Sold out 0.00% −3.51
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) Sold out 0.00% −0.21
CABLE ONE INC (CABO 1.125 03/15/28) Sold out 0.00% −0.03
AMERICAN WATER CAPITAL C (AWK 3.625 06/15/26) Reduce -3.4% 5.57% +0.48

Portfolio Buys Q4 2025 → Q1 2026
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) Add +93.2% 6.15% +3.11
BLOCK INC (XYZ 0.25 11/01/27) Add +21.7% 5.77% +1.62
ETSY INC (ETSY 0.125 09/01/27) Add +35.6% 0.17% +0.06

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 28$183.1MBOFA 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$167.3MBOFA 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$189.0MBOFA 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$203.6MEURONET 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$373.4MBLV, VGLT, EDV, EXPEDIA GROUP INC (EXPE 0 02/15/26), PPL CAPITAL FUNDING INC (PPL 2.875 03/15/28)
Q1 2025 27$234.8MEXPEDIA 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$209.6MEXPEDIA 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$207.5MVENTAS 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$173.4MEXPEDIA 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$148.0MALLIANT 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)