INCOME RESEARCH & MANAGEMENT

Boston, MA · CIK 1165830 · 13F filing filed 2026-07-24

SEC-registered investment adviser since 1987 · corporation

Assets managed$130.7bn
Staff218 · 63 in investment roles
Main clients (by assets)Charities 20%, Private funds 19%, Pension plans 19%
Private funds15 · $13.6bn gross assets
Form ADV · 2026-08-24SEC adviser record

Legal entityINCOME RESEARCH + MANAGEMENT (US)

Kindinstitutions
Others nearbyBoston, MA

As an employer

Offices in1 country
Private fundsother private 15

US visa salary filings

Filings FY20251
Median salary offered$110,000
Middle half$110,000 – $110,000
Job titles1

Job title	Filings	Median	Range
Portfolio AnalystBoston, MA	1	$110,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: Income Research & Management.

$184.5m reported value +9.4% vs Q1 2026

30positions

51.6%in top 10

5 new 1 added 11 reduced 1 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	BOFA FIN LLC MTNF 0.600% 5/2 BAC 0.6 05.25.27 MTN	BAC 0.6 05.25.27 MTN	8,503,000	$10.7m5.79%	5.79%	Reduced -1.3m	-1,300,000 -13.3%
2	EURONET WORLDWIDE INC NOTE 0.750% 3/1 EEFT 0.75 03.15.49	EEFT 0.75 03.15.49	12,112,000	$10.3m5.56%	5.56%	Unchanged
3	UBER TECHNOLOGIES INC NOTE 0.875%12/0 UBER 0.875 12.01.28 2028	UBER 0.875 12.01.28 2028	8,560,000	$10.2m5.55%	5.55%	Unchanged
4	ALLIANT ENERGY CORP NOTE 3.250% 5/3 LNT 3.25 05.30.28	LNT 3.25 05.30.28	9,000,000	$9.9m5.37%	5.37%	New
5	WEC ENERGY GROUP INC NOTE 3.375% 6/0 WEC 3.375 06.01.28	WEC 3.375 06.01.28	9,265,000	$9.6m5.21%	5.21%	New
6	CAPITAL SOUTHWEST CORP NOTE 5.125%11/1 CSWC 5.125 11.15.29	CSWC 5.125 11.15.29	9,227,000	$9.6m5.20%	5.20%	Reduced -900.0k	-900,000 -8.9%
7	SOUTHERN CO NOTE 3.250% 6/1 SO 3.25 06.15.28	SO 3.25 06.15.28	9,340,000	$9.4m5.12%	5.12%	New
8	BLOCK INC NOTE 0.250%11/0 XYZ 0.25 11.01.27	XYZ 0.25 11.01.27	9,425,000	$8.9m4.84%	4.84%	Reduced -900.0k	-900,000 -8.7%
9	ON SEMICONDUCTOR CORP NOTE 0.500% 3/0 ON 0.5 03.01.29	ON 0.5 03.01.29	7,200,000	$8.7m4.70%	4.70%	Reduced -3.1m	-3,080,000 -30.0%
10	AKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 AKAM 0.375 09.01.27	AKAM 0.375 09.01.27	6,518,000	$7.8m4.23%	4.23%	Reduced -3.5m	-3,550,000 -35.3%
11	MICROCHIP TECHNOLOGY INC. NOTE 0.750% 6/0 MCHP 0.75 06.01.30	MCHP 0.75 06.01.30	6,978,000	$7.7m4.16%	4.16%	Unchanged
12	ENVISTA HOLDINGS CORPORATION NOTE 1.750% 8/1 NVST 1.75 08.15.28	NVST 1.75 08.15.28	7,345,000	$7.3m3.98%	3.98%	Reduced -1.4m	-1,370,000 -15.7%
13	GLOBAL PMTS INC NOTE 1.500% 3/0 GPN 1.5 03.01.31	GPN 1.5 03.01.31	7,830,000	$7.0m3.81%	3.81%	Unchanged
14	NEXTERA ENERGY CAP HLDGS INC NOTE 3.000% 3/0 NEE 3 03.01.27	NEE 3 03.01.27	5,120,000	$6.7m3.65%	3.65%	Reduced -800.0k	-800,000 -13.5%
15	MERITAGE HOMES CORP NOTE 1.750% 5/1 MTH 1.75 05.15.28	MTH 1.75 05.15.28	6,215,000	$6.4m3.47%	3.47%	Unchanged
16	ETSY INC NOTE 0.250% 6/1 ETSY 0.25 06.15.28	ETSY 0.25 06.15.28	6,892,000	$6.3m3.41%	3.41%	Reduced -1.4m	-1,450,000 -17.4%
17	EVERGY INC NOTE 4.500%12/1 EVRG 4.5 12.15.27	EVRG 4.5 12.15.27	3,722,000	$5.3m2.87%	2.87%	Reduced -600.0k	-600,000 -13.9%
18	BONDBLOXX ETF TRUST IR M TAX AWARE TXXI	TXXI	100,000	$5.1m2.76%	2.76%	Unchanged
19	DEXCOM INC NOTE 0.375% 5/1 DXCM 0.375 05.15.28	DXCM 0.375 05.15.28	5,451,000	$5.1m2.76%	2.76%	Reduced -650.0k	-650,000 -10.7%
20	BONDBLOXX ETF TRUST IR M TAX AWARE TAXM	TAXM	100,000	$5.0m2.74%	2.74%	Unchanged
21	BONDBLOXX ETF TRUST IR M TAXAWARE TAXX	TAXX	97,000	$4.9m2.67%	2.67%	Reduced -3.0k	-3,000 -3.0%
22	GLADSTONE CAP CORP NOTE 5.875%10/0 GLAD 5.875 10.01.30	GLAD 5.875 10.01.30	4,830,000	$4.6m2.52%	2.52%	Unchanged
23	FIRSTENERGY CORP NOTE 3.875% 1/1 FE 3.875 01.15.31	FE 3.875 01.15.31	3,360,000	$3.7m2.02%	2.02%	New
24	PINNACLE WEST CAP CORP NOTE 4.750% 6/1 PNW 4.75 06.15.27	PNW 4.75 06.15.27	3,031,000	$3.6m1.96%	1.96%	Unchanged
25	HAEMONETICS CORP MASS NOTE 2.500% 6/0 HAE 2.5 06.01.29	HAE 2.5 06.01.29	3,270,000	$3.3m1.79%	1.79%	Unchanged
26	FIRSTENERGY CORP NOTE 3.625% 1/1 FE 3.625 01.15.29	FE 3.625 01.15.29	2,755,000	$3.0m1.63%	1.63%	New
27	HARBOR ETF TRUST DISCIPLINED BOND AGGS	AGGS	50,000	$2.0m1.11%	1.11%	Unchanged
28	WELLS FARGO CO NEW PERP PFD CNV A WFC 7.5 PERP L	WFC 7.5 PERP L	803	$929.0k0.50%	0.50%	Unchanged
29	ETSY INC NOTE 0.125% 9/0 ETSY 0.125 09.01.27	ETSY 0.125 09.01.27	740,000	$700.3k0.38%	0.38%	Added +435.0k	+435,000 142.6%
30	BANK AMERICA CORP 7.25%CNV PFD L BAC 7.25 PERP L	BAC 7.25 PERP L	355	$445.3k0.24%	0.24%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
AMERICAN WTR CAP CORP AWK 3.625 06.15.26	AWK 3.625 06.15.26	9,343,000	$9.3m9.3m shares