# EDGAR Filing Document

**Accession Number:** 0001454937
**File Stem:** 0001454937-25-000017
**Filing Date:** 2025-10
**Character Count:** 8686
**Document Hash:** bf345de732bb9296206f96a60ac29de4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001454937-25-000017.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0001454937-25-000017

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251024

**EFFECTIVENESS DATE**: 20251024

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AEGON USA Investment Management, LLC
- **CENTRAL INDEX KEY:** 0001454937

**ORGANIZATION NAME:**
- **EIN:** 421310237
- **STATE OF INCORPORATION:** IA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13378
- **FILM NUMBER:** 251415697

**BUSINESS ADDRESS:**
- **STREET 1:** 6300 C STREET SW
- **CITY:** CEDAR RAPIDS
- **STATE:** IA
- **ZIP:** 52499
- **BUSINESS PHONE:** 319-355-6762

**MAIL ADDRESS:**
- **STREET 1:** 6300 C STREET SW
- **CITY:** CEDAR RAPIDS
- **STATE:** IA
- **ZIP:** 52499

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** AEGON USA Investment Management LLC<br>**Address:** 6300 C STREET SW<br>CEDAR RAPIDS, IA 52499

**Form 13F File Number:** 028-13378

**CRD Number (if applicable):** 000114537

**SEC File Number (if applicable):** 801-60667

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Dustin Boxa<br>**Title:** Treasurer<br>**Phone:** 319-355-8098

**Signature, Place, and Date of Signing:**

Dustin Boxa  Cedar Rapids, IA  10-22-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 44

**Form 13F Information Table Value Total:** $146823463

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name              | Form 13F File Number   |
|:---|:---|:---|
|  | TRANSAMERICA CORP | 028-00136              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALLIANT ENERGY CORP | NOTE  3.875% 3/1 | 018802AC2 |  | 802323 | 746000 | PRN |  | DFND | 1 | 746000 | 0 | 0 |
| AMERICAN WTR CAP CORP | NOTE  3.625% 6/1 | 03040WBE4 |  | 500700 | 500000 | PRN |  | DFND | 1 | 500000 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | SER A MAND CNV | 03769M304 |  | 1571512 | 22713 | SH |  | DFND | 1 | 22713 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | 6.75 SE B PFD | 03990B309 |  | 1112981 | 22700 | SH |  | DFND | 1 | 22700 | 0 | 0 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 2877440 | 2248 | SH |  | DFND | 1 | 2248 | 0 | 0 |
| CAPITAL SOUTHWEST CORP | NOTE  5.125%11/1 | 140501AE7 |  | 182225 | 185000 | PRN |  | DFND | 1 | 185000 | 0 | 0 |
| CBL  ASSOC PPTYS INC | COMMON STOCK | 124830878 |  | 455917 | 14909 | SH |  | DFND | 1 | 14909 | 0 | 0 |
| CENTERPOINT ENERGY INC | NOTE  4.250% 8/1 | 15189TBD8 |  | 1253190 | 1129000 | PRN |  | DFND | 1 | 1129000 | 0 | 0 |
| CLEAR CHANNEL OUTDOOR HLDGS | COM | 18453H106 |  | 383126 | 242485 | SH |  | DFND | 1 | 242485 | 0 | 0 |
| CMS ENERGY CORP | NOTE  3.375% 5/0 | 125896BX7 |  | 990975 | 905000 | PRN |  | DFND | 1 | 905000 | 0 | 0 |
| DUKE ENERGY CORP NEW | NOTE  4.125% 4/1 | 26441CBY0 |  | 1539399 | 1434000 | PRN |  | DFND | 1 | 1434000 | 0 | 0 |
| EATON VANCE SR FLTNG RTE TR | COM | 27828Q105 |  | 168912 | 14765 | SH |  | DFND | 1 | 14765 | 0 | 0 |
| ENVISTA HOLDINGS CORPORATION | NOTE  1.750% 8/1 | 29415FAD6 |  | 367333 | 390000 | PRN |  | DFND | 1 | 390000 | 0 | 0 |
| EVERGY INC | NOTE  4.500%12/1 | 30034WAD8 |  | 1171058 | 932000 | PRN |  | DFND | 1 | 932000 | 0 | 0 |
| EXPEDIA GROUP INC | NOTE         2/1 | 30212PBE4 |  | 888174 | 882000 | PRN |  | DFND | 1 | 882000 | 0 | 0 |
| FIRST TR SR FLTG RATE INCOME | COM | 33733U108 |  | 300170 | 30017 | SH |  | DFND | 1 | 30017 | 0 | 0 |
| FORD MTR CO | NOTE         3/1 | 345370CZ1 |  | 1871935 | 1847000 | PRN |  | DFND | 1 | 1847000 | 0 | 0 |
| GLOBAL PMTS INC | NOTE  1.500% 3/0 | 37940XAU6 |  | 1647468 | 1800000 | PRN |  | DFND | 1 | 1800000 | 0 | 0 |
| HIGHLAND OPPS  INCOME FD | HIGHLAND INCOME | 43010E404 |  | 672433 | 105895 | SH |  | DFND | 1 | 105895 | 0 | 0 |
| IHEARTMEDIA INC | COM CL A | 45174J509 |  | 335819 | 117010 | SH |  | DFND | 1 | 117010 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 1318590 | 63000 | SH |  | DFND | 1 | 63000 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S QUALITY | 46137V241 |  | 348860 | 4760 | SH |  | DFND | 1 | 4760 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 452634 | 5575 | SH |  | DFND | 1 | 5575 | 0 | 0 |
| KKR  CO INC | 6.25 CON SER D | 48251W500 |  | 1385640 | 27000 | SH |  | DFND | 1 | 27000 | 0 | 0 |
| MERITAGE HOMES CORP | NOTE  1.750% 5/1 | 59001ABF8 |  | 486144 | 475000 | PRN |  | DFND | 1 | 475000 | 0 | 0 |
| NEW MTN FIN CORP | NOTE  7.500%10/1 | 647551AE0 |  | 154923 | 155000 | PRN |  | DFND | 1 | 155000 | 0 | 0 |
| NEXTERA ENERGY CAP HLDGS INC | NOTE  3.000% 3/0 | 65339KCY4 |  | 733401 | 621000 | PRN |  | DFND | 1 | 621000 | 0 | 0 |
| NEXTERA ENERGY INC | UNIT 06/01/2027 | 65339F663 |  | 397920 | 8000 | SH |  | DFND | 1 | 8000 | 0 | 0 |
| PINNACLE WEST CAP CORP | NOTE  4.750% 6/1 | 723484AK7 |  | 375900 | 350000 | PRN |  | DFND | 1 | 350000 | 0 | 0 |
| PPL CAP FDG INC | NOTE  2.875% 3/1 | 69352PAS2 |  | 1280763 | 1122000 | PRN |  | DFND | 1 | 1122000 | 0 | 0 |
| SOUTHERN CO | NOTE  3.875%12/1 | 842587DP9 |  | 2552634 | 2268000 | PRN |  | DFND | 1 | 2268000 | 0 | 0 |
| SOUTHERN CO | NOTE  4.500% 6/1 | 842587DZ7 |  | 833625 | 750000 | PRN |  | DFND | 1 | 750000 | 0 | 0 |
| SSGA ACTIVE ETF TR | BLACKSTONE SENR | 78467V608 |  | 1758834 | 42300 | SH |  | DFND | 1 | 42300 | 0 | 0 |
| UBER TECHNOLOGIES INC | NOTE  0.875%12/0 | 90353TAM2 |  | 2062410 | 1403000 | PRN |  | DFND | 1 | 1403000 | 0 | 0 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 3078844 | 41399 | SH |  | DFND | 1 | 41399 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 458987 | 957 | SH |  | DFND | 1 | 957 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 95211306 | 290128 | SH |  | DFND | 1 | 290128 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 794475 | 13500 | SH |  | DFND | 1 | 13500 | 0 | 0 |
| VENTAS RLTY LTD PARTNERSHIP | NOTE  3.750% 6/0 | 92277GAZ0 |  | 982832 | 761000 | PRN |  | DFND | 1 | 761000 | 0 | 0 |
| WEC ENERGY GROUP INC | NOTE  4.375% 6/0 | 92939UAP1 |  | 599000 | 500000 | PRN |  | DFND | 1 | 500000 | 0 | 0 |
| WEC ENERGY GROUP INC | NOTE  4.375% 6/0 | 92939UAR7 |  | 613250 | 500000 | PRN |  | DFND | 1 | 500000 | 0 | 0 |
| WELLS FARGO CO NEW | PERP PFD CNV A | 949746804 |  | 3545885 | 2870 | PRN |  | DFND | 1 | 2870 | 0 | 0 |
| WESTERN ASSET HIGH INCOM FD | COM | 95766J102 |  | 263671 | 60614 | SH |  | DFND | 1 | 60614 | 0 | 0 |
| WW INTL INC | COM NEW | 98262P200 |  | 8039845 | 293854 | SH |  | DFND | 1 | 293854 | 0 | 0 |

---