Liberty Mutual Group Asset Management Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Liberty Mutual Group Asset Management Inc. reported 12 stock positions worth $314.5 million. Its top holding was Wisdomtree Japan Hedged Eq (DXJ) at 38.3% of the portfolio, followed by Ishr Ibx Usd Hiyld CB ETF-Ui (HYG, 26.3%) and Qxo (QXO, 24.7%). Compared with Q2 2025, it opened 2 new positions, sold out of 9, added to 1 and reduced 1. The biggest buy was a new position in SS Blackstone Sr Loan ETF (SRLN) and the biggest sale Ishr Ibx Usd Hiyld CB ETF-Ui (HYG, shares −65%).

Most Recent 13F
Q2 2026
Location
Boston, MA
CIK
0001533497
Portfolio Value
$314.5M (Q3 2025)
SEC Filing
0001193125-25-280156 ↗ filed Nov 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $351.0M Q1 2024 Q2 2024: $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 $314.5M Q3 2025 Q4 2025: $1.1B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 12 stocks · $314.5M
DXJ Wisdomtree Japan Hedged Eq 38.31% 941,000 $120.5M No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 26.28% 1,017,751 $82.6M Reduce -65.4%
QXO Qxo Inc. 24.74% 4,082,787 $77.8M No change
SRLN SS Blackstone Sr Loan ETF 7.95% 601,107 $25.0M New
AFRM Affirm Holdings Inc. 1.61% 69,374 $5.1M No change
SMC Summit Midstream Corp. 0.55% 84,840 $1.7M No change
KORE Kore Group Holdings Inc. 0.25% 319,600 $773K No change
CRGY Crescent Energy Inc. Class A 0.12% 41,118 $367K Add +125.2%
OPEN Opendoor Technologies Inc. 0.11% 41,711 $332K No change
FRSH Freshworks Inc. Class A 0.09% 23,812 $280K New
AM Antero Midstream Corp. 0.00% 32,312 $0 No change
REPX Riley Exploration Permian Inc. 0.00% 13,599 $0 No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $23K (not counted above)
SecurityClassShares / PrincipalValueChange
GCTS.WS Concord Acq Class A -CW28 *W EXP 03/01/202 125,000$23KNo change

Total filed on the 13F, all lines: $314.5M.

Portfolio Sells Q2 2025 → Q3 2025
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -65.4% 26.28% −25.26
BKLN Invesco Senior Loan ETF Sold out 0.00% −2.27
TTAN Servicetitan Inc. Class A Sold out 0.00% −0.53
BRZE Braze Inc. Class A Sold out 0.00% −0.35
DASH DoorDash Inc. Class A Sold out 0.00% −0.33
CXM Sprinklr Inc. Class A Sold out 0.00% −0.29
RBRK Rubrik Inc. Class A Sold out 0.00% −0.16
AMPL Amplitude Inc. Class A Sold out 0.00% −0.16
IOT Samsara Inc. Class A Sold out 0.00% −0.13
KVYO Klaviyo Inc. Class A Sold out 0.00% −0.05

Portfolio Buys Q2 2025 → Q3 2025
SRLN SS Blackstone Sr Loan ETF New 7.95% +7.95
FRSH Freshworks Inc. Class A New 0.09% +0.09
CRGY Crescent Energy Inc. Class A Add +125.2% 0.12% +0.04

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