Amrize AG bonds AMRZ
Who owns Amrize AG'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. AMRZ 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 |
|---|---|---|---|---|---|---|---|---|---|
| 43475RAP1 | 4.6% fixed | 2027-04-07 | USD | 100.13 | 4.39% | 48 bp | 8 | $80.5M | Jul 2026 |
| 43475RAR7 | 4.95% fixed | 2030-04-07 | USD | 99.94 | 4.97% | 68 bp | 14 | $24.2M | Jul 2026 |
| 43475RAT3 | 5.4% fixed | 2035-04-07 | USD | 99.49 | 5.47% | 94 bp | 14 | $16.1M | 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 | 3 | $120.8M | 99.94 | 5.22% | 81 bp | 14 |
| Jun 2026 | 3 | $270.9M | 100.65 | 4.97% | 68 bp | 40 |
| May 2026 | 3 | $249.4M | 100.89 | 4.94% | 68 bp | 25 |
| Apr 2026 | 3 | $124.4M | 101.12 | 4.88% | 82 bp | 18 |
| Mar 2026 | 3 | $290.3M | 101.10 | 4.65% | 86 bp | 48 |
| Feb 2026 | 3 | $232.7M | 102.84 | 4.19% | 58 bp | 27 |
| Jan 2026 | 3 | $118.3M | 102.38 | 4.32% | 61 bp | 21 |
| Dec 2025 | 4 | $275.0M | 102.28 | 4.36% | 71 bp | 58 |
| Nov 2025 | 3 | $210.6M | 102.56 | 4.30% | 66 bp | 38 |
| Oct 2025 | 3 | $95.9M | 102.38 | 4.35% | 74 bp | 24 |
| Sep 2025 | 3 | $322.6M | 102.21 | 4.40% | 77 bp | 61 |
| Aug 2025 | 3 | $216.2M | 101.47 | 4.47% | 70 bp | 38 |
| Jul 2025 | 3 | $97.7M | 100.89 | 4.70% | 77 bp | 27 |
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. 23 added, 35 cut, 5 new holders and 19 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $94.5M | $96.0M | -$1.8M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $53.3M | $54.1M | $3.0M |
| Lord Abbett Ultra Short Bond Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $42.2M | $42.3M | $0 |
| Fidelity Investment Grade Bond Central Fund Fidelity Central Investment Portfolios II LLC | 2026-06-30 | $36.8M | $36.8M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $35.9M | $36.3M | $1.5M |
| BBH Limited Duration Fund BBH Trust | 2026-07-31 | $29.8M | $29.8M | $0 |
| First Trust Enhanced Short Maturity ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $28.5M | $28.6M | $0 |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $18.5M | $18.8M | $0 |
| JPMorgan Managed Income Fund JPMorgan Trust I | 2026-05-31 | $16.8M | $16.8M | new |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $15.9M | $16.1M | $219K |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $13.3M | $13.5M | $4K |
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $13.0M | $13.0M | new |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $12.3M | $12.4M | -$2.2M |
| Janus Henderson Short Duration Income ETF Janus Detroit Street Trust | 2026-07-31 | $10.2M | $10.2M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $10.0M | $10.1M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $9.8M | $9.8M | -$1.2M |
| Fidelity Investment Grade Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $9.6M | $9.6M | $0 |
| Bridge Builder Core Bond Fund Bridge Builder Trust | 2026-06-30 | $9.4M | $9.5M | $0 |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $9.3M | $9.5M | $0 |
| Strategic Advisers Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $8.0M | $8.1M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $7.0M | $7.1M | $15K |
| Invesco BulletShares 2030 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $6.8M | $6.8M | $350K |
| Payden Limited Maturity Fund PAYDEN & RYGEL INVESTMENT GROUP | 2026-07-31 | $6.8M | $6.8M | $0 |
| Transamerica Short-Term Bond TRANSAMERICA FUNDS | 2026-07-31 | $6.4M | $6.4M | $0 |
| Touchstone ETF Trust-Touchstone Ultra Short Income ETF Touchstone ETF Trust | 2026-06-30 | $6.2M | $6.2M | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): LORD ABBETT BOND DEBENTURE FUND INC ($12.6M), T. Rowe Price Ultra Short-Term Bond Fund ($8.4M), State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF ($3.5M), Transamerica Bond ($2.6M), Transamerica Aegon Bond VP ($2.0M), Transamerica Core Bond ($1.8M), T. Rowe Price Ultra Short-Term Bond ETF ($1.6M), Transamerica Aegon Core Bond VP ($1.5M), Diversified Bond Portfolio ($1.1M), Goldman Sachs Ultra Short Bond ETF ($1.0M).
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 | 1 | $53.3M | $54.1M | 0.08% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $35.9M | $36.3M | 0.07% |
| FTSM First Trust Enhanced Short Maturity ETF | 2026-07-31 | 1 | $28.5M | $28.6M | 0.44% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $15.9M | $16.1M | 0.05% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 1 | $13.3M | $13.5M | 0.03% |
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 1 | $13.0M | $13.0M | 0.03% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 2 | $12.3M | $12.4M | 0.00% |
| VNLA Janus Henderson Short Duration Income ETF | 2026-07-31 | 1 | $10.2M | $10.2M | 0.31% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 1 | $9.8M | $9.8M | 0.01% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $7.0M | $7.1M | 0.04% |
| BSCU Invesco BulletShares 2030 Corporate Bond ETF | 2026-05-31 | 1 | $6.8M | $6.8M | 0.27% |
| TUSI Touchstone ETF Trust-Touchstone Ultra Short Income ETF | 2026-06-30 | 1 | $6.2M | $6.2M | 1.09% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $6.0M | $6.0M | 0.03% |
| FSIG First Trust Limited Duration Investment Grade Corporate ETF | 2026-07-31 | 1 | $5.5M | $5.5M | 0.36% |
| FIIG First Trust Intermediate Duration Investment Grade Corporate ETF | 2026-07-31 | 1 | $5.5M | $5.5M | 0.85% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.82: safer than 57% of companies (63th percentile in Basic Materials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $20.79B |
| Debt barrier (short-term + ½ long-term debt) | $4.02B |
| Equity volatility (1 year) | 36.8% |
| Asset value / asset volatility (solved) | $24.64B / 31.1% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 81 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'' = 1.78 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
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.