Rakuten Group, Inc. bonds 4755.T
Who owns Rakuten Group, Inc.'s debt and what their own filings say it is worth. Bond prices and yields are fund-reported marks (SEC Form N-PORT) as of Jul 2026; they lag the market by about two months. 4755.T stock page.
Every bond funds hold
Each bond's latest fund-reported mark. Price per 100 of face value; yield to maturity from price, coupon and maturity; spread over the matched-maturity Treasury for US-dollar bonds.
| Bond | Coupon | Maturity | Ccy | Price | Yield | Spread | Funds | Held | As of |
|---|---|---|---|---|---|---|---|---|---|
| ZF5958961 | 11.25% fixed | 2027-02-15 | USD | 102.81 | 5.88% | 202 bp | 3 | $5.8M | Jul 2026 |
| 75102WAG3 | 11.25% fixed | 2027-02-15 | USD | 102.92 | 5.69% | 183 bp | 12 | $45.0M | Jul 2026 |
| J6S87BAY4 | 4.25% fixed | 2027-04-22 | EUR | 98.74 | 6.04% | — | 12 | $24.7M | Jul 2026 |
| ZB1404480 | 9.75% fixed | 2029-04-15 | USD | 108.57 | 6.25% | 201 bp | 8 | $9.1M | Jul 2026 |
| 75102WAK4 | 9.75% fixed | 2029-04-15 | USD | 108.56 | 6.26% | 201 bp | 46 | $160.3M | Jul 2026 |
| 75102WAM0 | 8.125% fixed | 2029-12-15 | USD | 102.20 | 7.37% | 310 bp | 18 | $25.0M | Jul 2026 |
| 75102WAB4 | 6.25% fixed | 2031-04-22 | USD | 94.79 | 7.58% | 326 bp | 13 | $22.9M | Jul 2026 |
| BP1066276 | 6.25% fixed | 2031-04-22 | USD | 94.69 | 7.60% | 328 bp | 3 | $5.1M | Jul 2026 |
| YT6735708 | 8.125% variable | — | USD | 102.21 | — | — | 1 | $204K | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Price history
Median fund-marked price across the bonds, per 100 of face value.
By month
Funds file on staggered quarter-ends, so each month-end is marked by the funds that reported for it; the amount held moves with which funds filed, not only with buying and selling.
| Month-end | Bonds | Held | Median price | USD yield | USD spread | Most funds on one bond |
|---|---|---|---|---|---|---|
| Jul 2026 | 9 | $298.3M | 102.21 | 7.37% | 310 bp | 46 |
| Jun 2026 | 7 | $306.4M | 103.34 | 6.78% | 262 bp | 52 |
| May 2026 | 6 | $322.1M | 103.50 | 6.65% | 260 bp | 26 |
| Apr 2026 | 9 | $283.9M | 102.24 | 7.43% | 358 bp | 50 |
| Mar 2026 | 10 | $366.7M | 99.98 | 7.78% | 399 bp | 54 |
| Feb 2026 | 7 | $354.2M | 103.54 | 6.45% | 289 bp | 26 |
| Jan 2026 | 13 | $329.1M | 103.51 | 5.59% | 196 bp | 55 |
| Dec 2025 | 10 | $408.4M | 101.98 | 5.74% | 216 bp | 62 |
| Nov 2025 | 7 | $367.6M | 102.74 | 6.05% | 247 bp | 26 |
| Oct 2025 | 13 | $301.7M | 104.47 | 5.81% | 225 bp | 51 |
| Sep 2025 | 9 | $407.8M | 103.90 | 5.80% | 222 bp | 66 |
| Aug 2025 | 7 | $356.9M | 102.61 | 6.28% | 257 bp | 25 |
| Jul 2025 | 13 | $295.3M | 99.24 | 6.76% | 288 bp | 55 |
Who holds the debt
Fund series in their latest quarterly N-PORT report, largest first, with the change in face value against each fund's own previous report. Names as reported in the filings. 46 added, 42 cut, 5 new holders and 18 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $110.5M | $114.9M | $1.6M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $69.0M | $71.8M | $8.8M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $47.2M | $49.3M | -$27.4M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $41.6M | $44.7M | $0 |
| BlackRock Strategic Income Opportunities Portfolio BlackRock Funds V | 2026-06-30 | $38.7M | $42.8M | -$901.7M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $32.7M | $34.6M | -$880K |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $30.1M | $32.2M | $325K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $27.1M | $28.6M | -$1.1M |
| BlackRock Total Return Fund BlackRock Bond Fund, Inc. | 2026-06-30 | $22.9M | $25.2M | $5.8M |
| iShares Flexible Income Active ETF BlackRock ETF Trust II | 2026-07-31 | $22.4M | $24.3M | $5.7M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $22.3M | $24.1M | -$33.3M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $22.0M | $23.0M | -$3.6M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $21.0M | $22.3M | -$3.0M |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $21.3M | $22.1M | $0 |
| Invesco BulletShares 2027 High Yield Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $20.5M | $21.4M | $3.4M |
| Lord Abbett Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $15.0M | $15.6M | $4.0M |
| iShares iBonds 2027 Term High Yield and Income ETF iShares Trust | 2026-07-31 | $14.1M | $14.5M | $3.1M |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $11.9M | $13.1M | $0 |
| PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $12.1M | $12.8M | $2.2M |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $10.5M | $11.5M | -$4.4M |
| RBC BlueBay High Yield Bond Fund RBC Funds Trust | 2026-06-30 | $9.6M | $10.2M | $0 |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $9.0M | $9.8M | $0 |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $8.3M | $8.8M | -$168K |
| Xtrackers USD High Yield BB-B ex Financials ETF DBX ETF Trust | 2026-05-31 | $7.1M | $7.4M | $798K |
| High Yield Fund John Hancock Bond Trust | 2026-05-31 | $7.0M | $7.1M | $210K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Janus Henderson Multi-Sector Income Fund ($13.2M), THE HARTFORD HIGH YIELD FUND ($2.2M), Janus Henderson High-Yield Fund ($1.4M), Fidelity Enhanced High Yield ETF ($1.0M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($926K), AllianceBernstein Global High Income Fund Inc ($658K), Neuberger High Income Bond Fund ($425K), WisdomTree VOYA Yield Enhanced USD Universal Bond Fund ($421K), iShares Short Duration Bond Active ETF ($400K), Blackstone Strategic Credit 2027 Term Fund ($354K).
ETFs holding these bonds
From each ETF's own latest N-PORT report: the issuer's bonds as a share of the ETF's net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Face value | Value | % of net assets |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 3 | $69.0M | $71.8M | 0.25% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 3 | $47.2M | $49.3M | 0.31% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $32.7M | $34.6M | 0.46% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 4 | $27.1M | $28.6M | 0.25% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $22.0M | $23.0M | 0.47% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 3 | $21.0M | $22.3M | 0.30% |
| BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $20.5M | $21.4M | 2.51% |
| IBHG iShares iBonds 2027 Term High Yield and Income ETF | 2026-07-31 | 1 | $14.1M | $14.5M | 2.86% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 3 | $12.1M | $12.8M | 0.76% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $10.5M | $11.5M | 0.71% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 3 | $7.1M | $7.4M | 0.31% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 3 | $6.3M | $6.6M | 0.26% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 1 | $5.9M | $6.5M | 0.19% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 3 | $4.1M | $4.2M | 0.01% |
| IBHI iShares iBonds 2029 Term High Yield and Income ETF | 2026-07-31 | 1 | $3.5M | $3.9M | 0.78% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.68: safer than 11% of companies (10th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-19, balance sheet 2026-06-30.
| Equity value | $9.16B |
| Debt barrier (short-term + ½ long-term debt) | $15.02B |
| Equity volatility (1 year) | 67.5% |
| Asset value / asset volatility (solved) | $23.48B / 27.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 310 bp spread prices in about 5.2% a year of default odds (spread ÷ (1 − 40% recovery)). Fund-reported marks as of Jul 2026; the spread also pays for liquidity and risk premium, so this overstates actual defaults.
Accounts: Altman Z
Altman Z'' = 0.91 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in 4755.T's stock and options. Options are reported at the value of the underlying shares, not the premium paid; 13F lists long positions only, lags 45 days after quarter-end, and does not show whether puts hedge a stock position.
| Quarter-end | Stock holders | Stock value | Put managers | Puts (underlying value) | Call managers | Calls (underlying value) | Convertible holders |
|---|---|---|---|---|---|---|---|
| 2026-06-30 | 2 | $16K | 0 | — | 0 | — | 0 |
| 2026-03-31 | 3 | $150K | 0 | — | 0 | — | 0 |
| 2025-12-31 | 3 | $215K | 0 | — | 0 | — | 1 |
| 2025-09-30 | 3 | $216K | 0 | — | 0 | — | 1 |
| 2025-06-30 | 4 | $183K | 0 | — | 0 | — | 1 |
| 2025-03-31 | 4 | $660K | 0 | — | 0 | — | 0 |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.