Adobe Inc. bonds ADBE
Who owns Adobe 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. ADBE 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 |
|---|---|---|---|---|---|---|---|---|---|
| 00724PAC3 | 2.15% fixed | 2027-02-01 | USD | 98.99 | 4.21% | 37 bp | 6 | $12.6M | Jul 2026 |
| 00724PAE9 | 4.85% fixed | 2027-04-04 | USD | 100.28 | 4.41% | 50 bp | 2 | $4.5M | Jul 2026 |
| 00724PAH2 | 4.75% fixed | 2028-01-17 | USD | 100.43 | 4.44% | 32 bp | 8 | $14.0M | Jul 2026 |
| 00724PAF6 | 4.8% fixed | 2029-04-04 | USD | 100.57 | 4.57% | 32 bp | 11 | $8.8M | Jul 2026 |
| 00724PAJ8 | 4.95% fixed | 2030-01-17 | USD | 100.58 | 4.76% | 49 bp | 9 | $5.4M | Jul 2026 |
| 00724PAD1 | 2.3% fixed | 2030-02-01 | USD | 91.91 | 4.84% | 56 bp | 10 | $15.8M | Jul 2026 |
| 00724PAG4 | 4.95% fixed | 2034-04-04 | USD | 97.80 | 5.30% | 81 bp | 8 | $7.8M | Jul 2026 |
| 00724PAK5 | 5.3% fixed | 2035-01-17 | USD | 99.48 | 5.38% | 85 bp | 5 | $1.6M | 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 | 8 | $70.5M | 99.88 | 4.80% | 53 bp | 11 |
| Jun 2026 | 8 | $153.8M | 100.53 | 4.60% | 43 bp | 21 |
| May 2026 | 8 | $231.4M | 100.75 | 4.49% | 41 bp | 23 |
| Apr 2026 | 8 | $58.4M | 100.86 | 4.47% | 60 bp | 11 |
| Mar 2026 | 8 | $190.9M | 100.93 | 4.34% | 56 bp | 25 |
| Feb 2026 | 8 | $258.3M | 102.16 | 4.00% | 41 bp | 22 |
| Jan 2026 | 8 | $58.7M | 102.27 | 3.95% | 29 bp | 11 |
| Dec 2025 | 8 | $237.7M | 102.28 | 3.97% | 37 bp | 23 |
| Nov 2025 | 8 | $262.6M | 102.47 | 3.91% | 31 bp | 21 |
| Oct 2025 | 8 | $55.6M | 102.25 | 4.01% | 43 bp | 11 |
| Sep 2025 | 8 | $236.8M | 102.33 | 3.98% | 38 bp | 23 |
| Aug 2025 | 8 | $244.8M | 102.17 | 3.97% | 24 bp | 21 |
| Jul 2025 | 8 | $53.6M | 101.45 | 4.23% | 33 bp | 11 |
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. 29 added, 35 cut, 6 new holders and 15 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $65.2M | $64.9M | $818K |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $47.4M | $45.9M | -$8.2M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $40.2M | $40.7M | $3.7M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $34.5M | $33.7M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $20.9M | $20.4M | -$4.6M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $19.6M | $19.1M | -$8.6M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $14.7M | $14.8M | -$2.6M |
| Invesco BulletShares 2027 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $13.7M | $13.7M | $199K |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $13.9M | $13.1M | -$3.5M |
| iShares iBonds Dec 2027 Term Corporate ETF iShares Trust | 2026-07-31 | $10.2M | $10.2M | $50K |
| iShares iBonds Dec 2030 Term Corporate ETF iShares Trust | 2026-07-31 | $10.5M | $9.9M | $832K |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $8.7M | $8.6M | -$1.2M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $8.0M | $7.8M | -$1.3M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $7.8M | $7.8M | $390K |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $6.7M | $6.8M | $322K |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $6.8M | $6.8M | $755K |
| Dimensional Ultrashort Fixed Income ETF Dimensional ETF Trust | 2026-07-31 | $6.7M | $6.7M | new |
| Invesco BulletShares 2028 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $6.6M | $6.7M | $88K |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $6.1M | $6.2M | $0 |
| Capital World Bond Fund | 2026-06-30 | $6.1M | $6.1M | $0 |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $5.6M | $5.6M | $172K |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $5.6M | $5.4M | $428K |
| iShares iBonds Dec 2028 Term Corporate ETF iShares Trust | 2026-07-31 | $5.2M | $5.2M | $155K |
| Invesco BulletShares 2029 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $5.1M | $5.2M | -$406K |
| Invesco BulletShares 2030 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $4.7M | $4.8M | $240K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Nuveen Core Bond Fund ($11.4M), College Retirement Equities Fund - Core Bond Account ($7.3M), VOYA INTERMEDIATE BOND FUND ($5.1M), Multi-Manager Total Return Bond Strategies Fund ($1.6M), Short Bond Fund ($825K), AB GLOBAL BOND FUND, INC. ($743K), Core Bond Fund ($411K), VOYA INTERMEDIATE BOND PORTFOLIO ($378K), Symmetry Panoramic US Systematic Fixed Income Fund ($169K), First American Multi-Manager Fixed-Income Fund ($111K).
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 |
|---|---|---|---|---|---|
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $65.2M | $64.9M | 0.13% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 4 | $47.4M | $45.9M | 0.01% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $40.2M | $40.7M | 0.06% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $20.9M | $20.4M | 0.09% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 6 | $19.6M | $19.1M | 0.01% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 4 | $14.7M | $14.8M | 0.02% |
| BSCR Invesco BulletShares 2027 Corporate Bond ETF | 2026-05-31 | 2 | $13.7M | $13.7M | 0.30% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $13.9M | $13.1M | 0.04% |
| IBDS iShares iBonds Dec 2027 Term Corporate ETF | 2026-07-31 | 2 | $10.2M | $10.2M | 0.26% |
| IBDV iShares iBonds Dec 2030 Term Corporate ETF | 2026-07-31 | 2 | $10.5M | $9.9M | 0.30% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 6 | $8.7M | $8.6M | 0.07% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 6 | $8.0M | $7.8M | 0.05% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $7.8M | $7.8M | 0.04% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 2 | $6.7M | $6.8M | 0.06% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 2 | $6.8M | $6.8M | 0.06% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 8.02: safer than 72% of companies (72th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-08-28.
| Equity value | $96.20B |
| Debt barrier (short-term + ½ long-term debt) | $3.98B |
| Equity volatility (1 year) | 41.3% |
| Asset value / asset volatility (solved) | $100.02B / 39.8% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 53 bp spread prices in about 0.9% 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'' = 7.69 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ADBE'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 |
|---|---|---|---|---|---|---|---|
| 2026-09-30 filings still arriving | 309 | $1.20B | 0 | — | 4 | $19.0M | 0 |
| 2026-06-30 | 1,978 | $65.84B | 58 | $5.23B | 76 | $5.60B | 0 |
| 2026-03-31 | 2,161 | $67.23B | 62 | $4.51B | 68 | $4.67B | 0 |
| 2025-12-31 | 2,494 | $117.03B | 60 | $6.11B | 62 | $5.35B | 0 |
| 2025-09-30 | 2,454 | $116.71B | 67 | $6.37B | 59 | $5.31B | 0 |
| 2025-06-30 | 2,647 | $132.15B | 68 | $5.06B | 68 | $4.13B | 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.