Western Asset Management Company, LLC

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Western Asset Management Company, LLC reported 4 stock positions worth $6.0 million. Its top holding was SS SPDR BB St Hi Yield ETF (SJNK) at 81.4% of the portfolio, followed by Chord Energy (CHRD, 7.2%) and Vaneck JPM Em Local Curr BND (EMLC, 6.5%). Compared with Q4 2024, it reduced 2. The biggest sale was Invesco Senior Loan ETF (BKLN, shares −93%).

Most Recent 13F
Q3 2025
Location
Pasadena, CA
CIK
0001138897
Portfolio Value
$6.0M (Q1 2025)
SEC Filing
0001138897-25-000003 ↗ filed May 13, 2025

Holdings Value

0$10.0M$20.0M$30.0M$40.0M$50.0M Q1 2024: $14.4M Q1 2024 Q2 2024: $3.2M Q2 2024 Q3 2024: $7.6M Q3 2024 Q4 2024: $11.2M Q4 2024 Q1 2025: $6.0M $6.0M Q1 2025 Q2 2025: $41.5M Q2 2025 Q3 2025: $15.7M Q3 2025

Holdings 4 stocks · $6.0M
SJNK SS SPDR BB St Hi Yield ETF 81.43% 192,650 $4.8M No change
CHRD Chord Energy Corp. 7.21% 3,805 $429K Reduce -74.2%
EMLC Vaneck JPM Em Local Curr BND 6.49% 16,200 $387K No change
BKLN Invesco Senior Loan ETF 4.87% 14,000 $290K Reduce -93.0%
Other holdings (6): bonds, preferreds, convertibles and warrants · $41.7M (not counted above)
SecurityClassShares / PrincipalValueChange
TWO HARBORS INV CORP (TWO 6.25 01/15/26) NOTE 6.250% 1/1 · principal 16,055,000$16.0MAdd +14.2%
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal 9,770,086$10.9MReduce -52.2%
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 4,965$6.0MNo change
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) NOTE 3/1 · principal 5,690,000$5.0MReduce -26.4%
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) NOTE 5.500% 3/1 · principal 2,000,000$1.9MNo change
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal 1,930,000$1.9MNo change

Total filed on the 13F, all lines: $47.7M.

Portfolio Sells Q4 2024 → Q1 2025
BKLN Invesco Senior Loan ETF Reduce -93.0% 4.87% −32.83
CHRD Chord Energy Corp. Reduce -74.2% 7.21% −8.23

Portfolio Buys Q4 2024 → Q1 2025
None this quarter.

Notes & Other Activity Q4 2024 → Q1 2025
TWO HARBORS INV CORP (TWO 6.25 01/15/26) NOTE 6.250% 1/1 · principal Add +14.2% 16,055,000 $16.0M
ECHOSTAR CORP (ECHO 3.875 11/30/30) NOTE 3.875%11/3 · principal Reduce -52.2% 9,770,086 $10.9M
DRAFTKINGS HOLDINGS INC (DKNG 0 03/15/28) NOTE 3/1 · principal Reduce -26.4% 5,690,000 $5.0M

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 4$15.7MSJNK, SHYG, WW, CHRD
Q2 2025 6$41.5MAGG, FLYYQ, SHYG, SJNK, EMLC
Q1 2025 4$6.0MSJNK, CHRD, EMLC, BKLN
Q4 2024 4$11.2MSJNK, BKLN, CHRD, EMLC
Q3 2024 3$7.6MSJNK, CHRD, EMLC
Q2 2024Amended 2$3.2MCHRD, EMLC
Q1 2024 5$14.4MBRY, CHRD, SRLN, HYG, EMLC