Income Research & Management
Income Research + Management (IR+M) is a privately owned investment management firm founded in 1987 and headquartered in Boston, MA. With over 200 employees, IR+M focuses exclusively on managing US-dollar denominated fixed income and provides customized investment solutions to a broad array of institutional and private clients, including pension funds, endowments, foundations, and other entities.
Investment Strategy
IR+M specializes exclusively in managing US-dollar denominated fixed income portfolios. The firm emphasizes a bottom-up, research-driven approach to security selection, primarily managing high-quality short- and intermediate-duration fixed income securities across government, corporate, and securitized sectors. IR+M actively seeks opportunities for value and risk management within customized client solutions, focusing on structural and price advantages, maintaining duration-neutral postures relative to their benchmarks, and dynamically managing liquidity and credit risks. Their strategies are tailored for institutional and private clients seeking robust, risk-aware performance in US fixed income markets.
Latest 13F Filing Activity
Income Research & Management filed their most recent 13F report on Sep 30, 2025 disclosing 4 equity positions with a total 13F market value of $204M. The fund increased holdings in Harbor Etf Trust, Bank America Corp., Wells Fargo Co. New among other positions. Income Research & Management reduced exposure to Vanguard BD Index FDS, Vanguard Scottsdale FDS, Vanguard World FD among others.
Top Holdings
Equity Positions (4)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
T TAXX | BONDBLOXX ETF TRUST | 2.49% | $5.1M | 100,000 | $49.99 | $50.98 | -$7.0K |
A AGGS | HARBOR ETF TRUST | 1.02% | $2.1M | 50,000 | $40.54 | $41.66 | +$23.8K |
B BAC-PL | BANK AMERICA CORP | 0.22% | $454.5K | 355 | $1213.00 | $1280.00 | +$23.6K |
W WFC-PL | WELLS FARGO CO NEW | 0.22% | $442.3K | 358 | $1174.13 | $1234.29 | +$22.3K |
Industry Allocation
Investment Team (50)
| Name | Role | Location | |
|---|---|---|---|
 | Client Portfolio Analyst | Boston, MA , United States | |
 | Chief Executive Officer, Co-Chief Investment Officer | Boston, MA , United States | |
 | Principal, Senior Portfolio Manager | Boston, MA , United States | |
C Carrie Mermelstein | Senior Portfolio Manager | Boston, MA , United States | |
C Claudia Segal | Associate | Boston, MA , United States | |
 | Senior Portfolio Analyst | Boston, MA , United States | |
E Eric Mueller | Senior Vice President - Senior Client Portfolio Manager | Boston, MA , United States | |
H Harrison Ameen | Senior Research Analyst | Boston, MA , United States | |
H Hope Dubuque | Client Portfolio Manager | Boston, MA , United States | |
 | Portfolio Manager | Boston, MA , United States |