INCOME RESEARCH & MANAGEMENT Long-Term Concentrated

Location: Boston, MA

CIK: 0001165830 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Jul 17, 2025

Total Value: $374M (100.0% shares, 0.0% debt)

Holdings (40)

BLV VANGUARD BD INDEX FDS 13.4%

Value $50.14M Shares 720,997 Est. Cost $69.54 Unrealized —

VGLT VANGUARD SCOTTSDALE FDS 10.6%

Value $39.62M Shares 705,962 Est. Cost $56.12 Unrealized —

EDV VANGUARD WORLD FD 7.3%

Value $27.18M Shares 403,862 Est. Cost $67.30 Unrealized —

— EXPEDIA GROUP INC 3.6%

Value $13.64M Shares 14,037,000 Est. Cost $1.20 Unrealized —

— PPL CAP FDG INC 3.5%

Value $13.12M Shares 12,146,000 Est. Cost $0.96 Unrealized —

— NEW MTN FIN CORP 3.3%

Value $12.27M Shares 12,241,000 Est. Cost $1.02 Unrealized —

— VENTAS RLTY LTD PARTNERSHIP 3.2%

Value $12.14M Shares 10,155,000 Est. Cost $1.05 Unrealized —

— CMS ENERGY CORP 3.2%

Value $12.09M Shares 11,374,000 Est. Cost $0.98 Unrealized —

— DUKE ENERGY CORP NEW 3.1%

Value $11.66M Shares 11,023,000 Est. Cost $1.00 Unrealized —

— CENTERPOINT ENERGY INC 3.0%

Value $11.09M Shares 10,246,000 Est. Cost $1.01 Unrealized —

— EURONET WORLDWIDE INC 2.8%

Value $10.35M Shares 12,112,000 Est. Cost $0.99 Unrealized —

— AMERICAN WTR CAP CORP 2.8%

Value $10.31M Shares 10,268,000 Est. Cost $1.02 Unrealized —

— CAPITAL SOUTHWEST CORP 2.4%

Value $9.086M Shares 9,242,000 Est. Cost $0.96 Unrealized —

— AKAMAI TECHNOLOGIES INC 2.4%

Value $9.01M Shares 9,303,000 Est. Cost $0.99 Unrealized —

— FORD MTR CO 2.4%

Value $8.846M Shares 8,953,000 Est. Cost $0.99 Unrealized —

— BOFA FIN LLC 2.4%

Value $8.801M Shares 9,008,000 Est. Cost $1.11 Unrealized —

— ON SEMICONDUCTOR CORP 2.3%

Value $8.549M Shares 9,250,000 Est. Cost $0.95 Unrealized —

— ETSY INC 2.2%

Value $8.306M Shares 9,692,000 Est. Cost $0.74 Unrealized —

— ENVISTA HOLDINGS CORPORATION 2.2%

Value $8.057M Shares 8,693,000 Est. Cost $0.90 Unrealized —

— NEXTERA ENERGY CAP HLDGS INC 2.0%

Value $7.635M Shares 6,715,000 Est. Cost $1.15 Unrealized —

— GLOBAL PMTS INC 2.0%

Value $7.372M Shares 8,255,000 Est. Cost $0.94 Unrealized —

— MICROCHIP TECHNOLOGY INC. 1.9%

Value $7.28M Shares 7,413,000 Est. Cost $0.98 Unrealized —

— BLOCK INC 1.8%

Value $6.667M Shares 7,470,000 Est. Cost $0.89 Unrealized —

— EVERGY INC 1.6%

Value $5.996M Shares 5,127,000 Est. Cost $1.09 Unrealized —

— DEXCOM INC 1.6%

Value $5.84M Shares 6,226,000 Est. Cost $0.94 Unrealized —

— ALLIANT ENERGY CORP 1.5%

Value $5.658M Shares 5,509,000 Est. Cost $0.98 Unrealized —

— UBER TECHNOLOGIES INC 1.4%

Value $5.328M Shares 3,735,000 Est. Cost $1.15 Unrealized —

— MERITAGE HOMES CORP 1.4%

Value $5.209M Shares 5,380,000 Est. Cost $0.97 Unrealized —

TAXX BONDBLOXX ETF TRUST 1.4%

Value $5.105M Shares 100,000 Est. Cost $50.00 Unrealized —

TXXI BONDBLOXX ETF TRUST 1.3%

Value $4.953M Shares 100,000 Est. Cost $49.80 Unrealized —

TAXM BONDBLOXX ETF TRUST 1.3%

Value $4.922M Shares 100,000 Est. Cost $49.65 Unrealized —

— WEC ENERGY GROUP INC 1.3%

Value $4.775M Shares 4,147,000 Est. Cost $1.15 Unrealized —

— SOUTHERN CO 1.2%

Value $4.402M Shares 4,002,000 Est. Cost $1.10 Unrealized —

— HAEMONETICS CORP MASS 0.8%

Value $2.962M Shares 2,985,000 Est. Cost $0.99 Unrealized —

— PINNACLE WEST CAP CORP 0.8%

Value $2.828M Shares 2,611,000 Est. Cost $1.08 Unrealized —

AGGS HARBOR ETF TRUST 0.6%

Value $2.059M Shares 50,000 Est. Cost $40.94 Unrealized —

— BANK AMERICA CORP 0.1%

Value $431K Shares 355 Est. Cost $1213.79 Unrealized —

— WELLS FARGO CO NEW 0.1%

Value $420K Shares 358 Est. Cost $1173.14 Unrealized —

— WEC ENERGY GROUP INC 0.0%

Value $95,744 Shares 85,000 Est. Cost $1.13 Unrealized —

— CABLE ONE INC 0.0%

Value $26,688 Shares 35,000 Est. Cost $0.76 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BLV	VANGUARD BD INDEX FDS	720,997	$50.14M	13.4%	$69.54	—	LONG TERM BOND	921937793
VGLT	VANGUARD SCOTTSDALE FDS	705,962	$39.62M	10.6%	$56.12	—	LONG TERM TREAS	92206C847
EDV	VANGUARD WORLD FD	403,862	$27.18M	7.3%	$67.30	—	EXTENDED DUR	921910709
—	EXPEDIA GROUP INC	14,037,000	$13.64M	3.6%	$1.20	—	NOTE 2/1	30212PBE4
—	PPL CAP FDG INC	12,146,000	$13.12M	3.5%	$0.96	—	NOTE 2.875% 3/1	69352PAS2
—	NEW MTN FIN CORP	12,241,000	$12.27M	3.3%	$1.02	—	NOTE 7.500%10/1	647551AE0
—	VENTAS RLTY LTD PARTNERSHIP	10,155,000	$12.14M	3.2%	$1.05	—	NOTE 3.750% 6/0	92277GAZ0
—	CMS ENERGY CORP	11,374,000	$12.09M	3.2%	$0.98	—	NOTE 3.375% 5/0	125896BX7
—	DUKE ENERGY CORP NEW	11,023,000	$11.66M	3.1%	$1.00	—	NOTE 4.125% 4/1	26441CBY0
—	CENTERPOINT ENERGY INC	10,246,000	$11.09M	3.0%	$1.01	—	NOTE 4.250% 8/1	15189TBD8
—	EURONET WORLDWIDE INC	12,112,000	$10.35M	2.8%	$0.99	—	NOTE 0.750% 3/1	298736AL3
—	AMERICAN WTR CAP CORP	10,268,000	$10.31M	2.8%	$1.02	—	NOTE 3.625% 6/1	03040WBE4
—	CAPITAL SOUTHWEST CORP	9,242,000	$9.086M	2.4%	$0.96	—	NOTE 5.125%11/1	140501AE7
—	AKAMAI TECHNOLOGIES INC	9,303,000	$9.01M	2.4%	$0.99	—	NOTE 0.375% 9/0	00971TAL5
—	FORD MTR CO	8,953,000	$8.846M	2.4%	$0.99	—	NOTE 3/1	345370CZ1
—	BOFA FIN LLC	9,008,000	$8.801M	2.4%	$1.11	—	MTNF 0.600% 5/2	09709UV70
—	ON SEMICONDUCTOR CORP	9,250,000	$8.549M	2.3%	$0.95	—	NOTE 0.500% 3/0	682189AU9
—	ETSY INC	9,692,000	$8.306M	2.2%	$0.74	—	NOTE 0.250% 6/1	29786AAN6
—	ENVISTA HOLDINGS CORPORATION	8,693,000	$8.057M	2.2%	$0.90	—	NOTE 1.750% 8/1	29415FAD6
—	NEXTERA ENERGY CAP HLDGS INC	6,715,000	$7.635M	2.0%	$1.15	—	NOTE 3.000% 3/0	65339KCY4
—	GLOBAL PMTS INC	8,255,000	$7.372M	2.0%	$0.94	—	NOTE 1.500% 3/0	37940XAU6
—	MICROCHIP TECHNOLOGY INC.	7,413,000	$7.28M	1.9%	$0.98	—	NOTE 0.750% 6/0	595017BG8
—	BLOCK INC	7,470,000	$6.667M	1.8%	$0.89	—	NOTE 0.250%11/0	852234AK9
—	EVERGY INC	5,127,000	$5.996M	1.6%	$1.09	—	NOTE 4.500%12/1	30034WAD8
—	DEXCOM INC	6,226,000	$5.84M	1.6%	$0.94	—	NOTE 0.375% 5/1	252131AM9
—	ALLIANT ENERGY CORP	5,509,000	$5.658M	1.5%	$0.98	—	NOTE 3.875% 3/1	018802AC2
—	UBER TECHNOLOGIES INC	3,735,000	$5.328M	1.4%	$1.15	—	NOTE 0.875%12/0	90353TAM2
—	MERITAGE HOMES CORP	5,380,000	$5.209M	1.4%	$0.97	—	NOTE 1.750% 5/1	59001ABF8
TAXX	BONDBLOXX ETF TRUST	100,000	$5.105M	1.4%	$50.00	—	IR M TAXAWARE	09789C721
TXXI	BONDBLOXX ETF TRUST	100,000	$4.953M	1.3%	$49.80	—	IR M TAX AWARE	09789C663
TAXM	BONDBLOXX ETF TRUST	100,000	$4.922M	1.3%	$49.65	—	IR M TAX AWARE	09789C697
—	WEC ENERGY GROUP INC	4,147,000	$4.775M	1.3%	$1.15	—	NOTE 4.375% 6/0	92939UAR7
—	SOUTHERN CO	4,002,000	$4.402M	1.2%	$1.10	—	NOTE 4.500% 6/1	842587DZ7
—	HAEMONETICS CORP MASS	2,985,000	$2.962M	0.8%	$0.99	—	NOTE 2.500% 6/0	405024AD2
—	PINNACLE WEST CAP CORP	2,611,000	$2.828M	0.8%	$1.08	—	NOTE 4.750% 6/1	723484AK7
AGGS	HARBOR ETF TRUST	50,000	$2.059M	0.6%	$40.94	—	DISCIPLINED BOND	41151J794
—	BANK AMERICA CORP	355	$431K	0.1%	$1213.79	—	7.25%CNV PFD L	060505682
—	WELLS FARGO CO NEW	358	$420K	0.1%	$1173.14	—	PERP PFD CNV A	949746804
—	WEC ENERGY GROUP INC	85,000	$95,744	0.0%	$1.13	—	NOTE 4.375% 6/0	92939UAP1
—	CABLE ONE INC	35,000	$26,688	0.0%	$0.76	—	NOTE 1.125% 3/1	12685JAG0