INCOME RESEARCH & MANAGEMENT

CIK 0001165830 · Q1 2026

13F Equity AUM

$168.6M

-11.4% QoQ

Positions

-6 QoQ

AUM Rank

#8,085

Top 65%

Skill Alpha (FF)

—

No alpha data

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 32.2%Top 10: 59.4%Top 20: 93.9%

BAC 0.6 05/25/27 MTN7.0%

AKAM 0.375 09/01/276.9%

CSWC 5.125 11/15/296.1%

UBER 0.875 12/01/28 6.1%

EEFT 0.75 03/15/496.1%

ON 0.5 03/01/296.0%

XYZ 0.25 11/01/275.7%

AWK 3.625 06/15/265.5%

NVST 1.75 08/15/285.1%

NEE 3 03/01/274.9%

Others (16)40.6%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology30.8%

Fixed Income28.0%

Financial Services17.1%

Healthcare8.5%

Consumer Cyclical8.1%

Unclassified4.1%

Utilities3.5%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 26Median: 3.82%Avg: 3.85%

0–0.5%

2(0.4%)

0.5–1%

1(0.6%)

1–3%

7(16.7%)

3–5%

7(27.8%)

5%+

9(54.5%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 20Unique: 6vs 20 funds

0.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 6 benchmark funds with highest portfolio overlap (Jaccard similarity)

JPMORGAN CHASE & CO

0.4%

STATE STREET CORP

0.6%

BlackRock, Inc.

0.5%

BANK OF AMERICA CORP /DE/

0.4%

FMR LLC

0.5%

MORGAN STANLEY

0.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New0Increased3Decreased1Exited6

Increased

UBER 0.875 12/01/28 6.1%

+4.1M(+93%)

XYZ 0.25 11/01/275.7%

+1.8M(+22%)

ETSY 0.125 09/01/270.2%

+80K(+36%)

Decreased

AWK 3.625 06/15/265.5%

-325,000(-3%)

Exited

-8,858,000

-7,512,000

-5,475,000

-6,383,000

-371,000

-75,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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