Liberty Mutual Group Asset Management Inc.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed February 14, 2025), Liberty Mutual Group Asset Management Inc. reported 116 stock positions worth $679.3 million. Its top holding was Invesco Senior Loan ETF (BKLN) at 43.7% of the portfolio, followed by Vanguard Int-Term Corporate (VCIT, 10.5%) and Vanguard S&P 500 ETF (VOO, 6.5%). Compared with Q1 2024, it opened 12 new positions, sold out of 13, added to 14 and reduced 30. The biggest buy was a new position in Invesco Senior Loan ETF (BKLN) and the biggest sale an exit from Ishr Ibx Usd Hiyld CB ETF-Ui (HYG).

Most Recent 13F
Q2 2026
Location
Boston, MA
CIK
0001533497
Portfolio Value
$679.3M (Q2 2024)
SEC Filing
0000950123-25-002493 ↗ filed Feb 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $351.0M Q1 2024 Q2 2024: $679.3M $679.3M Q2 2024 Q3 2024: $660.1M Q3 2024 Q4 2024: $420.1M Q4 2024 Q1 2025: $301.0M Q1 2025 Q2 2025: $460.6M Q2 2025 Q3 2025: $314.5M Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 116 stocks · $679.3M
BKLN Invesco Senior Loan ETF 43.71% 14,112,500 $296.9M New
VCIT Vanguard Int-Term Corporate 10.47% 890,000 $71.1M No change
VOO Vanguard S&P 500 ETF 6.52% 88,517 $44.3M New
SRLN SS Blackstone Sr Loan ETF 2.65% 430,500 $18.0M New
AMPS Altus Power Inc. 1.69% 2,920,124 $11.4M Reduce -2.7%
AMT American Tower Corp. 1.66% 57,924 $11.3M Add +0.0%
EQIX Equinix Inc. 1.63% 14,634 $11.1M Add +45.3%
PLD Prologis Inc. 1.41% 85,277 $9.6M Add +2.5%
WELL Welltower Inc. 1.34% 87,163 $9.1M Add +3.4%
AVB Avalonbay Communities Inc. 1.14% 37,490 $7.8M Add +13.0%
EXR Extra Space Storage Inc. 0.95% 41,622 $6.5M Reduce -18.8%
MAA Mid-America Apartment Comm 0.94% 44,991 $6.4M Add +85.2%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.83% 198,020 $5.7M Reduce -4.9%
ADC Agree Realty Corp. 0.79% 86,753 $5.4M No change
REG Regency Centers Corp. 0.73% 79,888 $5.0M No change
SPG Simon Property Group Inc. 0.60% 27,035 $4.1M Add +1.5%
DEXCOM INC (DXCM 0.25 11/15/25) 0.60% 4,075,000 $4.1M No change
DLR Digital Realty Trust Inc. 0.60% 26,760 $4.1M Reduce -33.5%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.59% 33,293 $4.0M Add +5.3%
INVH Invitation Homes Inc. 0.57% 108,501 $3.9M Add +3.1%
FORD MOTOR COMPANY (F 0 03/15/26) filed as FORD MTR CO DEL 0.57% 3,854,000 $3.9M Reduce -4.9%
REXR Rexford Industrial Realty Inc. 0.57% 86,747 $3.9M Reduce -20.3%
SOUTHWEST AIRLINES CO (LUV 1.25 05/01/25) 0.49% 3,340,000 $3.3M No change
RHP Ryman Hospitality Properties 0.48% 32,491 $3.2M Reduce -0.9%
SOUTHERN CO (SO 3.875 12/15/25) 0.47% 3,150,000 $3.2M No change
ZILLOW GROUP INC (Z 1.375 09/01/26) 0.46% 2,575,000 $3.1M No change
BENTLEY SYSTEMS INC (BSY 0.125 01/15/26) 0.45% 3,100,000 $3.1M No change
DOC Healthpeak Properties Inc. 0.45% 155,206 $3.0M Reduce -12.6%
SMLP Summit Midstream Partners LP 0.44% 84,840 $3.0M No change
DUKE ENERGY CORP (DUK 4.125 04/15/26) 0.44% 2,987,000 $3.0M New
FRT Federal Realty Invs Trust 0.42% 28,551 $2.9M No change
EPR Epr Properties filed as EPR PPTYS 0.40% 65,327 $2.7M Add +34.9%
CCI Crown Castle Inc. 0.40% 27,773 $2.7M Reduce -8.6%
CUBE Cubesmart 0.39% 59,383 $2.7M New
ETSY INC (ETSY 0.25 06/15/28) 0.38% 3,325,000 $2.6M No change
STAG Stag Industrial Inc. 0.38% 72,194 $2.6M Add +10.3%
DAYFORCE INC (DAY 0.25 03/15/26) 0.38% 2,825,000 $2.6M Reduce -9.6%
BXP BXP Inc. filed as BOSTON PROPERTIES INC 0.37% 40,738 $2.5M Add +4.6%
SHIFT4 PAYMENTS INC (FOUR 0 12/15/25) 0.36% 2,200,000 $2.5M No change
EPRT Essential Properties Realty 0.35% 85,188 $2.4M Reduce -10.0%
DATADOG INC (DDOG 0.125 06/15/25) 0.34% 1,610,000 $2.3M No change
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) 0.33% 2,020,000 $2.2M New
UBER TECHNOLOGIES INC (UBER 0 12/15/25) 0.32% 2,050,000 $2.2M No change
AFRM Affirm Holdings Inc. 0.31% 69,374 $2.1M No change
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) 0.31% 2,170,000 $2.1M Reduce -12.2%
MIDDLEBY CORP (MIDD 1 09/01/25) 0.30% 1,930,000 $2.1M Reduce -11.5%
PCH Potlatchdeltic Corp. 0.30% 50,928 $2.0M Add +7.5%
ON SEMICONDUCTOR CORP (ON 0.5 03/01/29) 0.28% 1,955,000 $1.9M No change
SITC Site Centers Corp. filed as SITE CTRS CORP 0.27% 124,949 $1.8M No change
INSULET CORPORATION (PODD 0.375 09/01/26) 0.26% 1,642,000 $1.8M No change
VENTAS REALTY LP (VTR 3.75 06/01/26) 0.26% 1,660,000 $1.7M New
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) 0.26% 1,575,000 $1.7M New
OHI Omega Healthcare Investors 0.26% 50,573 $1.7M New
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) 0.25% 1,500,000 $1.7M No change
EGP Eastgroup Properties Inc. 0.25% 9,993 $1.7M New
ENPHASE ENERGY INC (ENPH 0 03/01/28) 0.24% 1,975,000 $1.6M No change
CUZ Cousins Properties Inc. 0.23% 68,848 $1.6M Add +1.3%
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) 0.23% 1,763,000 $1.6M Reduce -18.5%
EXACT SCIENCES CORP (EXAS 0.375 03/15/27) 0.22% 1,750,000 $1.5M No change
CTRE Caretrust REIT Inc. 0.22% 60,087 $1.5M No change
BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) 0.22% 710,000 $1.5M Reduce -19.8%
SOLAR EDGE TECHNOLOGIES (SEDG 0 09/15/25) 0.22% 1,605,000 $1.5M No change
POST HOLDINGS INC (POST 2.5 08/15/27) filed as POST HLDGS INC 0.21% 1,299,000 $1.4M No change
SLG SL Green Realty Corp. 0.21% 24,746 $1.4M Reduce -10.0%
PEBBLEBROOK HOTEL TRUST (PEB 1.75 12/15/26) 0.20% 1,575,000 $1.4M No change
INTEGRA LIFESCIENCES HLD (IART 0.5 08/15/25) 0.20% 1,475,000 $1.4M No change
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) 0.20% 1,270,000 $1.4M Reduce -16.7%
SEA LTD (SEALTD 2.375 12/01/25) 0.19% 1,225,000 $1.3M No change
VTR Ventas Inc. 0.19% 25,290 $1.3M New
MONGODB INC (MDB 0.25 01/15/26) 0.18% 950,000 $1.3M No change
SNAP INC (SNAP 0.125 03/01/28) 0.18% 1,559,000 $1.2M No change
DROPBOX INC (DBX 0 03/01/28) 0.18% 1,350,000 $1.2M No change
AIRBNB INC (ABNB 0 03/15/26) 0.17% 1,300,000 $1.2M No change
ENVESTNET INC (ENV 2.625 12/01/27) 0.17% 1,075,000 $1.2M No change
BILL HOLDINGS INC (BILL 0 12/01/25) 0.17% 1,225,000 $1.1M Reduce -26.9%
WY Weyerhaeuser Co. 0.16% 38,307 $1.1M Reduce -6.9%
MARRIOTT VACATION WORLDW (VAC 3.25 12/15/27) 0.16% 1,160,000 $1.1M No change
ZSCALER INC. (ZS 0.125 07/01/25) 0.15% 775,000 $1.0M Reduce -11.4%
BIOMARIN PHARMACEUTICAL (BMRN 1.25 05/15/27) 0.14% 1,025,000 $979K No change
LCI INDUSTRIES (LCII 1.125 05/15/26) 0.14% 1,025,000 $962K No change
CYBERARK SOFTWARE LTD (CYBR 0 11/15/24) 0.14% 550,000 $955K No change
ZTO EXPRESS KY INC (ZTO 1.5 09/01/27) 0.13% 925,000 $899K No change
ON SEMICONDUCTOR CORP (ON 0 05/01/27) 0.13% 635,000 $887K No change
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) 0.12% 575,000 $821K Reduce -50.0%
ARE Alexandria Real Estate Equit 0.12% 6,693 $783K New
HST Host Hotels & Resorts Inc. 0.11% 43,166 $776K Reduce -3.9%
SEA LTD (SEALTD 0.25 09/15/26) 0.11% 854,000 $742K No change
UNITY SOFTWARE INC (U 0 11/15/26) 0.11% 830,000 $715K No change
RAPID7 INC (RPD 0.25 03/15/27) 0.11% 800,000 $715K Reduce -59.5%
BLOCK INC (XYZ 0.125 03/01/25) 0.10% 735,000 $708K Reduce -62.0%
SHOPIFY INC (SHOPCN 0.125 11/01/25) 0.10% 750,000 $700K No change
REDFIN CORP (RDFN 0.5 04/01/27) 0.10% 1,275,000 $697K No change
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) 0.10% 828,000 $686K No change
CRACKER BARREL OLD COUNT (CBRL 0.625 06/15/26) 0.10% 775,000 $685K No change
PALO ALTO NETWORKS (PANW 0.375 06/01/25) 0.10% 200,000 $681K No change
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) 0.09% 725,000 $636K Reduce -56.7%
LIVONGO HEALTH (TDOC 0.875 06/01/25) 0.09% 625,000 $595K No change
ROYAL CARIBBEAN CRUISES (RCL 6 08/15/25) 0.08% 175,000 $564K No change
EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) 0.07% 500,000 $485K Reduce -69.2%
LUMENTUM HOLDINGS INC (LITE 0.5 06/15/28) 0.07% 600,000 $472K No change

Show all 116 holdings

Other holdings (2): bonds, preferreds, convertibles and warrants · $24K (not counted above)
SecurityClassShares / PrincipalValueChange
GCTS.WS Concord Acq Class A -CW28 *W EXP 03/01/202 125,000$19KNo change
CNDAW Concord Acquisition A -CW28 *W EXP 99/99/999 50,000$6KNo change

Total filed on the 13F, all lines: $679.4M.

Portfolio Sells Q1 2024 → Q2 2024
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Sold out 0.00% −5.28
AMPS Altus Power Inc. Reduce -2.7% 1.69% −2.40
EXR Extra Space Storage Inc. Reduce -18.8% 0.95% −1.20
UDR Udr Inc. Sold out 0.00% −1.08
DLR Digital Realty Trust Inc. Reduce -33.5% 0.60% −1.05
REXR Rexford Industrial Realty Inc. Reduce -20.3% 0.57% −0.99
VICI Vici Properties Inc. Reduce -4.9% 0.83% −0.93
PSA Public Storage Reduce -83.9% 0.06% −0.70
FORD MOTOR COMPANY (F 0 03/15/26) Reduce -4.9% 0.57% −0.62
RHP Ryman Hospitality Properties Reduce -0.9% 0.48% −0.60
CCI Crown Castle Inc. Reduce -8.6% 0.40% −0.52
MIDDLEBY CORP (MIDD 1 09/01/25) Reduce -11.5% 0.30% −0.51
AXON ENTERPRISE INC (AXON 0.5 12/15/27) Reduce -81.5% 0.05% −0.51
DOC Healthpeak Properties Inc. Reduce -12.6% 0.45% −0.50
BLOCK INC (XYZ 0.125 03/01/25) Reduce -62.0% 0.10% −0.46
U Unity Software Inc. Sold out 0.00% −0.46
DAYFORCE INC (DAY 0.25 03/15/26) Reduce -9.6% 0.38% −0.44
ENSG The Ensign Group Inc. Sold out 0.00% −0.42
JAZZ INVESTMENTS I LTD (JAZZ 2 06/15/26) Reduce -12.2% 0.31% −0.39
RAPID7 INC (RPD 0.25 03/15/27) Reduce -59.5% 0.11% −0.39
EURONET WORLDWIDE INC (EEFT 0.75 03/15/49) Reduce -69.2% 0.07% −0.38
EPRT Essential Properties Realty Reduce -10.0% 0.35% −0.37
KORE GROUP HLDGS INC Sold out 0.00% −0.36
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) Reduce -50.0% 0.12% −0.35
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) Reduce -56.7% 0.09% −0.32
AHR American Healthcare REIT Inc. Sold out 0.00% −0.32
LUMENTUM HOLDINGS INC (LITE 0.5 12/15/26) Reduce -18.5% 0.23% −0.31
BILL HOLDINGS INC (BILL 0 12/01/25) Reduce -26.9% 0.17% −0.28
VTMX Corp. Inmobiliaria Vesta-ADR Reduce -85.3% 0.02% −0.27
BOOKING HOLDINGS INC (BKNG 0.75 05/01/25) Reduce -19.8% 0.22% −0.27
WY Weyerhaeuser Co. Reduce -6.9% 0.16% −0.26
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) Sold out 0.00% −0.23
SLG SL Green Realty Corp. Reduce -10.0% 0.21% −0.23
WEAV Weave Communications Inc. Sold out 0.00% −0.22
ALARM.COM HLDGS INC (ALRM 0 01/15/26) Sold out 0.00% −0.22
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) Reduce -16.7% 0.20% −0.21
ZSCALER INC. (ZS 0.125 07/01/25) Reduce -11.4% 0.15% −0.19
MICROCHIP TECHNOLOGY INC (MCHP 0.125 11/15/24) Sold out 0.00% −0.18
HST Host Hotels & Resorts Inc. Reduce -3.9% 0.11% −0.15
CFLT Confluent Inc. Class A Sold out 0.00% −0.14
CABLE ONE INC (CABO 0 03/15/26) Reduce -44.8% 0.05% −0.13
PIONEER NATURAL RESOURCE (PXD 0.25 05/15/25) Sold out 0.00% −0.10
MAXEON SOLAR TECH (MAXN 6.5 07/15/25) Sold out 0.00% −0.03

Portfolio Buys Q1 2024 → Q2 2024
BKLN Invesco Senior Loan ETF New 43.71% +43.71
VOO Vanguard S&P 500 ETF New 6.52% +6.52
SRLN SS Blackstone Sr Loan ETF New 2.65% +2.65
DUKE ENERGY CORP (DUK 4.125 04/15/26) New 0.44% +0.44
CUBE Cubesmart New 0.39% +0.39
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) New 0.33% +0.33
VENTAS REALTY LP (VTR 3.75 06/01/26) New 0.26% +0.26
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) New 0.26% +0.26
OHI Omega Healthcare Investors New 0.26% +0.26
EGP Eastgroup Properties Inc. New 0.25% +0.25
VTR Ventas Inc. New 0.19% +0.19
ARE Alexandria Real Estate Equit New 0.12% +0.12
MAA Mid-America Apartment Comm Add +85.2% 0.94% +0.03
EPR Epr Properties Add +34.9% 0.40% −0.18
CUZ Cousins Properties Inc. Add +1.3% 0.23% −0.23
STAG Stag Industrial Inc. Add +10.3% 0.38% −0.33
PCH Potlatchdeltic Corp. Add +7.5% 0.30% −0.34
BXP BXP Inc. Add +4.6% 0.37% −0.36
INVH Invitation Homes Inc. Add +3.1% 0.57% −0.49
SUI Sun Communities Inc. Add +5.3% 0.59% −0.57
SPG Simon Property Group Inc. Add +1.5% 0.60% −0.58
AVB Avalonbay Communities Inc. Add +13.0% 1.14% −0.61
EQIX Equinix Inc. Add +45.3% 1.63% −0.74
WELL Welltower Inc. Add +3.4% 1.34% −0.91
AMT American Tower Corp. Add +0.0% 1.66% −1.60
PLD Prologis Inc. Add +2.5% 1.41% −1.68

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 38$1.1BSRLN, VOO, FRVO, IEF, HYG
Q1 2026 27$1.2BCRGY, VOO, SRLN, IEF, HYG
Q4 2025 28$1.1BCRGY, HYG, DXJ, VOO, QXO
Q3 2025 12$314.5MDXJ, HYG, QXO, SRLN, AFRM
Q2 2025 19$460.6MHYG, DXJ, QXO, BKLN, AFRM
Q1 2025 15$301.0MVOO, DXJ, QXO, AMPS, AFRM
Q4 2024 14$420.1MVOO, BKLN, DXJ, QXO, AMPS
Q3 2024Amended 48$660.1MSPY, LQD, USHY, QXO, DXJ
Q2 2024Amended 116$679.3MBKLN, VCIT, VOO, SRLN, AMPS
Q1 2024Amended 117$351.0MVCIT, HYG, AMPS, AMT, PLD