Lord Abbett Investment Grade Floating Rate Fund
Actively managed global bond fund
As of its 2026 Q2 report, Lord Abbett Investment Grade Floating Rate Fund held 709 positions with $4.00B in net assets. Its ten largest holdings made up 8.6% of the fund. The LGRUX share class costs 0.31% a year. Over the 12 months to May 2026, LGRUX returned 5.9%, with dividends reinvested. In 2026 Q3 it added 252 new positions and exited 153.
The Funds investment objective is to seek a high level of current income.
The fund seeks high current income by investing at least 80% of assets in investment-grade floating or adjustable-rate debt securities, using derivatives to convert fixed-rate debt into floating-rate exposure and to manage duration and hedge risk. The portfolio management team employs relative value analysis, combining top-down macroeconomic assessment with bottom-up security selection to identify undervalued opportunities across fixed-income sectors. The fund may allocate up to 20% of assets to below-investment-grade securities and invests in non-U.S. issuers and emerging markets. Because returns depend on the manager's security selection and relative value judgments, performance will diverge from any benchmark.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury 3.38% · due 2027-12-31 | 3.48% | $139.26M | — |
KUNTARAHOITUS OYJ 4.65% floating · due 2026-07-15 | 0.87% | $34.96M | — |
Neuberger Berman CLO Ltd 4.99% floating · due 2039-07-20 | 0.65% | $26.06M | — |
Sothebys ArtFi Master Trust 4.92% floating · due 2033-06-20 | 0.57% | $22.81M | — |
GOLDMAN SACHS GROUP INC 4.73% floating · due 2031-01-28 | 0.52% | $20.92M | — |
HalseyPoint CLO I, Ltd. 5.13% floating · due 2038-07-20 | 0.50% | $20.06M | — |
Babson CLO Ltd 4.80% floating · due 2035-01-18 | 0.50% | $20.01M | — |
Kennedy Lewis CLO Ltd 0.00% floating · due 2037-04-22 | 0.50% | $19.86M | — |
JPN BANK FOR INT'L COOP 2.88% · due 2027-06-01 | 0.49% | $19.76M | — |
CPS Auto Trust 10.72% · due 2030-11-15 | 0.49% | $19.70M | — |
The 200 largest of 709 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Securitized | 79.17% |
| Bonds | 12.88% |
| Loans | 9.16% |
| Cash & short-term | 0.78% |
| Derivatives | 0.21% |
Derivatives are shown at market value, not notional exposure.
How it has done
LGRUX share class · total returns with dividends reinvested
Volatility over the last 12 months: 0.82%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 7 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.31% | +5.87% | +24.36% | — | -0.12% | |
| 0.37% | +5.80% | +24.10% | — | -0.13% | |
| 0.57% | +5.56% | +23.39% | — | -0.15% | |
| 0.37% | +5.78% | +24.13% | — | -0.13% | |
| 0.31% | +5.88% | +24.39% | — | -0.12% | |
| 0.47% | +5.73% | +24.06% | — | -0.24% | |
| 1.31% | +4.76% | +20.62% | — | -0.22% |
These classes hold the same portfolio, so the 3.76pp spread over 3 years is the cost difference between them — roughly 1.25pp a year — not a difference in what they own.
Fees & fund details
Lord Abbett Investment Grade Floating Rate Fund is an actively managed global bond fund.
- Asset class
- Bonds
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- Mixed credit
- Rate sensitivity
- Short duration
- Expense ratio, by class
- 0.31% – 1.31%· LGRUX 0.31%
- Portfolio turnover
- 119.00% a year · as of 2025 Q4
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
252 new· the largest 7
153 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Floating rate | 77.6% |
| Fixed rate | 21.7% |
| Zero-coupon or unclassified | 0.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 1.6% |
| 1-3y | 10.5% |
| 3-5y | 12.0% |
| 5-10y | 24.9% |
| 10y+ | 51.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Interest-rate moves barely touch this fund — but its credit exposure is real: a 100bp widening in credit spreads costs roughly 3.0%. Duration alone would have told you none of that.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 79% |
| Interest rates | 21% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.74 yr |
| High yield | +1.14 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.14 yr | 18% |
| 1 yr | 0.24 yr | 32% |
| 5 yr | 0.37 yr | 48% |
| 10 yr | 0.02 yr | 2% |
30 yr is NEGATIVE (-0.00 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
| 3 mo | 0.03 yr | 1% |
| 1 yr | 0.62 yr | 22% |
| 5 yr | 1.87 yr | 65% |
| 10 yr | 0.32 yr | 11% |
| 30 yr | 0.04 yr | 1% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.14 | +0.02 | +0.00 | $9.2k | $1.9k |
| 1 yr | +0.24 | +0.43 | +0.19 | $173.5k | $75.1k |
| 5 yr | +0.37 | +1.06 | +0.81 | $426.0k | $322.7k |
| 10 yr | +0.02 | +0.19 | +0.13 | $76.3k | $52.2k |
| 30 yr | -0.00 | +0.03 | +0.01 | $12.7k | $3.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
A newer credit-spread reading (2026Q3) is on file. This page holds one quarter across every figure on it, so that one appears here next quarter.
Understand how this fund fits with the rest.
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