AppLovin Corporation bonds APP
Who owns AppLovin Corporation'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. APP 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 |
|---|---|---|---|---|---|---|---|---|---|
| 03831WAB4 | 5.125% fixed | 2029-12-01 | USD | 100.13 | 5.08% | 81 bp | 23 | $72.0M | Jul 2026 |
| 03831WAC2 | 5.375% fixed | 2031-12-01 | USD | 100.13 | 5.35% | 99 bp | 19 | $29.6M | Jul 2026 |
| 03831WAD0 | 5.5% fixed | 2034-12-01 | USD | 98.49 | 5.73% | 121 bp | 22 | $26.5M | Jul 2026 |
| 03831WAE8 | 5.95% fixed | 2054-12-01 | USD | 90.69 | 6.69% | 158 bp | 11 | $5.6M | 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 | 4 | $133.7M | 99.31 | 5.54% | 110 bp | 23 |
| Jun 2026 | 4 | $826.7M | 100.85 | 5.22% | 91 bp | 69 |
| May 2026 | 4 | $264.8M | 101.05 | 5.18% | 89 bp | 33 |
| Apr 2026 | 4 | $133.2M | 100.36 | 5.34% | 123 bp | 25 |
| Mar 2026 | 4 | $834.1M | 99.87 | 5.40% | 136 bp | 76 |
| Feb 2026 | 4 | $299.7M | 102.03 | 4.99% | 110 bp | 31 |
| Jan 2026 | 4 | $105.8M | 102.49 | 4.93% | 94 bp | 23 |
| Dec 2025 | 4 | $776.9M | 102.67 | 4.89% | 96 bp | 71 |
| Nov 2025 | 4 | $337.6M | 102.90 | 4.81% | 94 bp | 33 |
| Oct 2025 | 4 | $122.4M | 102.40 | 4.94% | 107 bp | 23 |
| Sep 2025 | 4 | $752.1M | 102.76 | 4.89% | 98 bp | 73 |
| Aug 2025 | 4 | $366.1M | 102.13 | 5.02% | 96 bp | 36 |
| Jul 2025 | 4 | $123.7M | 101.18 | 5.18% | 97 bp | 28 |
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, 32 cut, 12 new holders and 29 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $112.9M | $114.0M | $0 |
| Janus Henderson Balanced Fund Janus Investment Fund | 2026-06-30 | $78.6M | $78.5M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $69.3M | $70.2M | -$22.5M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $61.6M | $61.7M | $4.8M |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $59.4M | $60.0M | $0 |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $55.8M | $55.9M | $0 |
| BlackRock Total Return Fund BlackRock Bond Fund, Inc. | 2026-06-30 | $48.0M | $48.1M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $33.1M | $33.5M | $838K |
| Janus Henderson VIT Balanced Portfolio Janus Aspen Series | 2026-06-30 | $26.7M | $26.6M | $0 |
| BlackRock Low Duration Bond Portfolio BlackRock Funds V | 2026-06-30 | $23.7M | $23.9M | $0 |
| Janus Henderson Multi-Sector Income Fund Janus Investment Fund | 2026-06-30 | $22.6M | $22.8M | $0 |
| Janus Henderson Short Duration Income ETF Janus Detroit Street Trust | 2026-07-31 | $22.6M | $22.6M | $0 |
| Nuveen Core Bond Fund TIAA-CREF Funds | 2026-06-30 | $21.9M | $22.0M | $0 |
| Loomis Sayles Income Fund LOOMIS SAYLES FUNDS I | 2026-06-30 | $21.2M | $21.4M | $0 |
| Janus Henderson Flexible Bond Fund Janus Investment Fund | 2026-06-30 | $20.8M | $20.7M | $0 |
| iShares Short Duration Bond Active ETF iShares U.S. ETF Trust | 2026-07-31 | $20.0M | $20.0M | $0 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $19.6M | $19.9M | -$533K |
| Strategic Advisers Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $16.1M | $16.3M | $940K |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $15.4M | $15.6M | -$8.9M |
| Loomis Sayles Strategic Income Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $13.5M | $13.6M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $13.3M | $13.4M | $165K |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $12.7M | $12.7M | $320K |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $12.2M | $12.4M | $6.1M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $10.9M | $11.0M | $1.4M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $10.9M | $11.0M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): CTIVP - American Century Diversified Bond Fund ($8.5M), DoubleLine Low Duration Bond Fund ($6.0M), Lord Abbett Core Fixed Income Fund ($5.3M), Lord Abbett Core Plus Bond Fund ($4.6M), Lord Abbett Total Return Fund ($4.0M), Doubleline Shiller Enhanced CAPE ($2.8M), First Trust Intermediate Duration Investment Grade Corporate ETF ($2.8M), Lord Abbett Income Fund ($2.5M), DoubleLine Core Fixed Income Fund ($2.4M), BBH Limited Duration Fund ($2.1M).
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 | 2 | $69.3M | $70.2M | 0.10% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 3 | $61.6M | $61.7M | 0.02% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $33.1M | $33.5M | 0.07% |
| VNLA Janus Henderson Short Duration Income ETF | 2026-07-31 | 1 | $22.6M | $22.6M | 0.68% |
| NEAR iShares Short Duration Bond Active ETF | 2026-07-31 | 1 | $20.0M | $20.0M | 0.41% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $19.6M | $19.9M | 0.07% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $15.4M | $15.6M | 0.03% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $13.3M | $13.4M | 0.07% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 4 | $12.7M | $12.7M | 0.01% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 2 | $10.9M | $11.0M | 0.10% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 1 | $8.4M | $8.5M | 0.01% |
| IBDU iShares iBonds Dec 2029 Term Corporate ETF | 2026-07-31 | 1 | $7.5M | $7.5M | 0.18% |
| IGEB iShares Investment Grade Systematic Bond ETF | 2026-05-31 | 2 | $7.0M | $7.2M | 0.52% |
| BSCT Invesco BulletShares 2029 Corporate Bond ETF | 2026-05-31 | 1 | $6.8M | $6.9M | 0.24% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $6.4M | $6.5M | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.15: safer than 50% of companies (49th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $90.48B |
| Debt barrier (short-term + ½ long-term debt) | $1.76B |
| Equity volatility (1 year) | 73.9% |
| Asset value / asset volatility (solved) | $92.17B / 72.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 110 bp spread prices in about 1.8% 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'' = 9.38 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in APP'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 | 151 | $707.5M | 1 | $290K | 2 | $871K | 0 |
| 2026-06-30 | 1,451 | $112.75B | 52 | $5.14B | 58 | $6.06B | 0 |
| 2026-03-31 | 1,371 | $73.27B | 48 | $4.91B | 51 | $5.54B | 0 |
| 2025-12-31 | 1,569 | $155.58B | 56 | $8.99B | 52 | $9.15B | 1 |
| 2025-09-30 | 1,428 | $167.88B | 62 | $11.20B | 57 | $16.04B | 0 |
| 2025-06-30 | 1,182 | $67.59B | 40 | $4.13B | 55 | $5.91B | 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.