Archer-Daniels-Midland Company bonds ADM
Who owns Archer-Daniels-Midland Company'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. ADM 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 |
|---|---|---|---|---|---|---|---|---|---|
| 039483BL5 | 2.5% fixed | 2026-08-11 | USD | 99.95 | 4.06% | 33 bp | 6 | $16.3M | Jul 2026 |
| 039483AR3 | 6.63% fixed | 2029-05-01 | USD | 103.80 | 5.13% | 88 bp | 1 | $10.4M | Jul 2026 |
| 039482AB0 | 3.25% fixed | 2030-03-27 | USD | 94.82 | 4.81% | 53 bp | 12 | $13.2M | Jul 2026 |
| 039482AD6 | 2.9% fixed | 2032-03-01 | USD | 90.11 | 4.95% | 58 bp | 7 | $7.2M | Jul 2026 |
| 039483AT9 | 5.935% fixed | 2032-10-01 | USD | 104.97 | 4.99% | 58 bp | 2 | $2.7M | Jul 2026 |
| 039482AE4 | 4.5% fixed | 2033-08-15 | USD | 97.30 | 4.96% | 50 bp | 8 | $2.9M | Jul 2026 |
| 039483AU6 | 5.38% fixed | 2035-09-15 | USD | 100.89 | 5.26% | 70 bp | 3 | $1.2M | Jul 2026 |
| 039483BC5 | 5.77% fixed | 2041-03-01 | USD | 103.09 | 5.46% | 72 bp | 2 | $826K | May 2026 |
| 039483BE1 | 4.54% fixed | 2042-03-26 | USD | 86.33 | 5.89% | 100 bp | 4 | $1.2M | Jul 2026 |
| 039483BH4 | 4.02% fixed | 2043-04-16 | USD | 79.89 | 5.93% | 99 bp | 2 | $794K | Jul 2026 |
| 039483BM3 | 3.75% fixed | 2047-09-15 | USD | 73.59 | 5.96% | 86 bp | 2 | $659K | Jul 2026 |
| 039483BQ4 | 4.5% fixed | 2049-03-15 | USD | 81.96 | 5.96% | 86 bp | 6 | $7.2M | Jul 2026 |
| 039482AC8 | 2.7% fixed | 2051-09-15 | USD | 57.73 | 5.97% | 86 bp | 6 | $6.2M | 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 | 12 | $70.1M | 92.47 | 5.26% | 86 bp | 12 |
| Jun 2026 | 11 | $161.0M | 90.91 | 5.27% | 63 bp | 24 |
| May 2026 | 12 | $247.1M | 93.46 | 5.46% | 58 bp | 23 |
| Apr 2026 | 12 | $68.9M | 93.55 | 4.97% | 84 bp | 13 |
| Mar 2026 | 11 | $162.9M | 91.18 | 5.28% | 79 bp | 22 |
| Feb 2026 | 12 | $234.1M | 95.15 | 5.19% | 64 bp | 23 |
| Jan 2026 | 12 | $66.4M | 94.25 | 4.74% | 57 bp | 14 |
| Dec 2025 | 11 | $162.6M | 91.88 | 5.08% | 68 bp | 21 |
| Nov 2025 | 12 | $219.6M | 94.51 | 5.24% | 72 bp | 22 |
| Oct 2025 | 12 | $63.9M | 93.94 | 4.69% | 74 bp | 13 |
| Sep 2025 | 11 | $174.7M | 91.36 | 5.04% | 68 bp | 20 |
| Aug 2025 | 12 | $189.4M | 93.57 | 5.27% | 69 bp | 19 |
| Jul 2025 | 12 | $67.1M | 92.58 | 4.90% | 65 bp | 13 |
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. 36 added, 22 cut, 4 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $78.1M | $75.0M | $4.8M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $63.4M | $55.8M | $269K |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $28.7M | $25.4M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $27.1M | $24.3M | -$580K |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $19.2M | $18.9M | $0 |
| Invesco BulletShares 2026 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $16.5M | $16.5M | $4.6M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $19.3M | $16.3M | $6.5M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $13.5M | $13.2M | $129K |
| iShares iBonds Dec 2026 Term Corporate ETF iShares Trust | 2026-07-31 | $13.0M | $13.0M | $2.8M |
| PGIM Short-Term Corporate Bond Fund Prudential Short-Term Corporate Bond Fund, Inc. | 2026-06-30 | $12.5M | $11.9M | -$5.4M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $10.9M | $10.7M | $1.2M |
| VANGUARD LONG-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $15.2M | $10.5M | $0 |
| Permanent Portfolio PERMANENT PORTFOLIO FAMILY OF FUNDS | 2026-07-31 | $10.0M | $10.4M | $0 |
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $10.2M | $10.1M | $0 |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $10.7M | $10.0M | $0 |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $11.0M | $9.9M | $350K |
| Avantis Core Fixed Income ETF American Century ETF Trust | 2026-05-31 | $9.5M | $9.5M | $2.8M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $8.0M | $7.7M | $1.8M |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $8.8M | $7.4M | $1.6M |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $7.0M | $6.9M | $772K |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $7.5M | $6.8M | $50K |
| Fidelity Investment Grade Bond Central Fund Fidelity Central Investment Portfolios II LLC | 2026-06-30 | $6.9M | $6.6M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $6.8M | $6.5M | $220K |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $8.5M | $6.3M | -$2.1M |
| iShares iBonds Dec 2032 Term Corporate ETF iShares Trust | 2026-07-31 | $6.0M | $5.6M | $255K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Invesco Multi-Asset Income Fund ($700K), F/m 10-Year Investment Grade Corporate Bond ETF ($121K).
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 |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 3 | $78.1M | $75.0M | 0.11% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 8 | $63.4M | $55.8M | 0.01% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 10 | $27.1M | $24.3M | 0.02% |
| BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 2026-05-31 | 1 | $16.5M | $16.5M | 0.43% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $19.3M | $16.3M | 0.05% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $13.5M | $13.2M | 0.07% |
| IBDR iShares iBonds Dec 2026 Term Corporate ETF | 2026-07-31 | 1 | $13.0M | $13.0M | 0.38% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 4 | $10.9M | $10.7M | 0.09% |
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 1 | $10.2M | $10.1M | 0.03% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 11 | $11.0M | $9.9M | 0.06% |
| AVIG Avantis Core Fixed Income ETF | 2026-05-31 | 4 | $9.5M | $9.5M | 0.51% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $8.0M | $7.7M | 0.02% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 10 | $8.8M | $7.4M | 0.02% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 4 | $7.0M | $6.9M | 0.06% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 1 | $7.5M | $6.8M | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 9.00: safer than 77% of companies (67th percentile in Consumer Defensive). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $38.78B |
| Debt barrier (short-term + ½ long-term debt) | $4.79B |
| Equity volatility (1 year) | 27.6% |
| Asset value / asset volatility (solved) | $43.36B / 24.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 86 bp spread prices in about 1.4% 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'' = 3.50 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ADM'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 | 160 | $408.6M | 0 | — | 1 | $1.8M | 0 |
| 2026-06-30 | 1,149 | $31.59B | 25 | $171.1M | 30 | $369.4M | 1 |
| 2026-03-31 | 1,093 | $23.92B | 26 | $141.6M | 29 | $367.0M | 1 |
| 2025-12-31 | 1,019 | $23.40B | 32 | $183.9M | 30 | $288.1M | 1 |
| 2025-09-30 | 969 | $23.91B | 30 | $226.4M | 33 | $398.2M | 1 |
| 2025-06-30 | 916 | $20.85B | 32 | $177.9M | 33 | $334.5M | 1 |
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.