Western Asset Management Company, LLC

Name: Western Asset Management Company, LLC 13F holdings, Q3 2025
Creator: Western Asset Management Company, LLC
Published: 2025-11-13

Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Western Asset Management Company, LLC reported 4 stock positions worth $15.7 million. Its top holding was SS SPDR BB St Hi Yield ETF (SJNK) at 41.1% of the portfolio, followed by iShares 0-5 YR HY Corp. Bond (SHYG, 31.4%) and WW International Inc.-New (WW, 25.2%). Compared with Q2 2025, it opened 1 new position, sold out of 3, added to 1 and reduced 1. The biggest buy was SS SPDR BB St Hi Yield ETF (SJNK, shares +14%) and the biggest sale an exit from iShares Core U.S. Aggregate (AGG).

Most Recent 13F: Q3 2025
Location: Pasadena, CA
CIK: 0001138897
Portfolio Value: $15.7M (Q3 2025)
SEC Filing: 0001138897-25-000005 ↗ filed Nov 13, 2025

Holdings Value

Holdings 4 stocks · $15.7M


SJNK SS SPDR BB St Hi Yield ETF	41.08%	251,330	$6.4M	Add +13.5%
SHYG iShares 0-5 YR HY Corp. Bond	31.35%	113,400	$4.9M	Reduce -31.4%
WW WW International Inc.-New filed as WW INTL INC	25.15%	143,989	$3.9M	New
CHRD Chord Energy Corp.	2.41%	3,805	$378K	No change

Other holdings (6): bonds, preferreds, convertibles and warrants · $29.5M (not counted above)

Security	Class	Shares / Principal	Value	Change
TWO HARBORS INV CORP (TWO 6.25 01/15/26)	NOTE 6.250% 1/1 · principal	16,055,000	$16.0M	No change
WELLS FARGO & COMPANY (WFC 7.5 PERP L)	PERP PFD CNV A	4,965	$6.1M	No change
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	1,000,000	$2.5M	Reduce -81.3%
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27)	NOTE 5.500% 3/1 · principal	2,000,000	$1.9M	No change
NCL CORPORATION LTD (NCLH 1.125 02/15/27)	NOTE 1.125% 2/1 · principal	1,500,000	$1.5M	New
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	1,200,000	$1.5M	New

Total filed on the 13F, all lines: $45.2M.

Portfolio Sells Q2 2025 → Q3 2025


AGG iShares Core U.S. Aggregate	Sold out	0.00%	−49.78
FLYYQ Spirit Aviation Holdings Inc.	Sold out	0.00%	−17.54
EMLC Vaneck JPM Em Local Curr BND	Sold out	0.00%	−0.99
SHYG iShares 0-5 YR HY Corp. Bond	Reduce -31.4%	31.35%	+14.15

Portfolio Buys Q2 2025 → Q3 2025


SJNK SS SPDR BB St Hi Yield ETF	Add +13.5%	41.08%	+27.48
WW WW International Inc.-New	New	25.15%	+25.15

Notes & Other Activity Q2 2025 → Q3 2025


DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28)	NOTE 3/1 · principal	Sold out	4,700,000	$4.2Mbefore exit
ECHOSTAR CORP (ECHO 3.875 11/30/30)	NOTE 3.875%11/3 · principal	Reduce -81.3%	1,000,000	$2.5M
NCL CORPORATION LTD (NCLH 1.125 02/15/27)	NOTE 1.125% 2/1 · principal	New	1,500,000	$1.5M
AEROVIRONMENT INC (AVAV 0 07/15/30)	NOTE 7/1 · principal	New	1,200,000	$1.5M
BLOOM ENERGY CORP (BE 3 06/01/29)	NOTE 3.000% 6/0 · principal	Sold out	430,000	$607Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q3 2025	4	$15.7M	SJNK, SHYG, WW, CHRD
Q2 2025	6	$41.5M	AGG, FLYYQ, SHYG, SJNK, EMLC
Q1 2025	4	$6.0M	SJNK, CHRD, EMLC, BKLN
Q4 2024	4	$11.2M	SJNK, BKLN, CHRD, EMLC
Q3 2024	3	$7.6M	SJNK, CHRD, EMLC
Q2 2024Amended	2	$3.2M	CHRD, EMLC
Q1 2024	5	$14.4M	BRY, CHRD, SRLN, HYG, EMLC