Ashland Inc. bonds ASH
Who owns Ashland 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. ASH 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 |
|---|---|---|---|---|---|---|---|---|---|
| 04433LAA0 | 3.375% fixed | 2031-09-01 | USD | 91.01 | 5.42% | 108 bp | 22 | $39.2M | Jul 2026 |
| 044209AM6 | 6.875% fixed | 2043-05-15 | USD | 101.67 | 6.71% | 176 bp | 13 | $27.8M | 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 | 2 | $67.0M | 96.34 | 6.06% | 142 bp | 22 |
| Jun 2026 | 2 | $46.5M | 97.32 | 5.81% | 130 bp | 37 |
| May 2026 | 2 | $70.4M | 95.41 | 6.10% | 159 bp | 21 |
| Apr 2026 | 2 | $67.3M | 94.07 | 6.36% | 202 bp | 22 |
| Mar 2026 | 2 | $45.1M | 93.71 | 6.35% | 207 bp | 31 |
| Feb 2026 | 2 | $69.4M | 98.64 | 5.72% | 158 bp | 18 |
| Jan 2026 | 2 | $69.7M | 98.60 | 5.72% | 149 bp | 23 |
| Dec 2025 | 2 | $50.0M | 98.40 | 5.75% | 157 bp | 32 |
| Nov 2025 | 2 | $65.4M | 97.12 | 5.92% | 179 bp | 18 |
| Oct 2025 | 2 | $64.9M | 96.55 | 6.04% | 194 bp | 22 |
| Sep 2025 | 2 | $44.9M | 96.69 | 6.04% | 188 bp | 26 |
| Aug 2025 | 2 | $66.6M | 96.99 | 5.97% | 167 bp | 18 |
| Jul 2025 | 2 | $63.2M | 95.78 | 6.13% | 170 bp | 20 |
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. 12 added, 17 cut, 11 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $41.8M | $41.1M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $14.2M | $13.5M | $872K |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $11.1M | $11.3M | $0 |
| DFA Global Core Plus Fixed Income Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $12.1M | $11.0M | $0 |
| Loomis Sayles Strategic Income Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $10.9M | $10.1M | $0 |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $8.5M | $8.7M | $0 |
| Columbia Strategic Income Fund COLUMBIA FUNDS SERIES TRUST I | 2026-05-31 | $6.6M | $6.0M | $1.3M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $6.5M | $5.9M | -$875K |
| DWS High Income Fund DEUTSCHE DWS INCOME TRUST | 2026-06-30 | $5.1M | $4.7M | -$3.0M |
| PGIM Absolute Return Bond Fund Prudential Investment Portfolios 9 | 2026-07-31 | $4.1M | $4.2M | $0 |
| Columbia High Yield Bond Fund Columbia Funds Series Trust II | 2026-05-31 | $4.3M | $3.9M | -$849K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $3.6M | $3.5M | $2.2M |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $3.3M | $3.2M | $0 |
| High Yield Fund John Hancock Bond Trust | 2026-05-31 | $3.2M | $3.2M | $0 |
| Goldman Sachs Income Builder Fund GOLDMAN SACHS TRUST | 2026-07-31 | $3.1M | $2.8M | $0 |
| PGIM Active High Yield Bond ETF PGIM ETF Trust | 2026-05-29 | $2.5M | $2.5M | $326K |
| Columbia Income Opportunities Fund Columbia Funds Series Trust II | 2026-07-31 | $2.6M | $2.3M | -$661K |
| Columbia Variable Portfolio - Income Opportunities Fund Columbia Funds Variable Series Trust II | 2026-06-30 | $2.3M | $2.1M | $0 |
| Nuveen Flexible Income Fund Nuveen Investment Trust V | 2026-05-31 | $1.9M | $1.9M | -$800K |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $1.9M | $1.8M | $323K |
| Nuveen Floating Rate Income Fund Nuveen Investment Trust III | 2026-05-31 | $2.0M | $1.8M | new |
| Loomis Sayles High Income Opportunities Fund LOOMIS SAYLES FUNDS I | 2026-06-30 | $1.7M | $1.6M | $0 |
| Nuveen High Yield Income Fund Nuveen Investment Trust III | 2026-05-31 | $1.7M | $1.6M | new |
| PSF PGIM High Yield Bond Portfolio Prudential Series Fund | 2026-06-30 | $1.6M | $1.6M | $0 |
| PGIM High Yield Bond Fund, Inc. | 2026-07-31 | $1.6M | $1.6M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): GMO High Yield Fund ($520K), Obra Defensive High Yield ETF ($50K).
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 | 2 | $14.2M | $13.5M | 0.05% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $3.6M | $3.5M | 0.03% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 1 | $2.5M | $2.5M | 0.19% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $1.9M | $1.8M | 0.07% |
| DFGP Dimensional Global Core Plus Fixed Income ETF | 2026-07-31 | 1 | $1.7M | $1.5M | 0.04% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $1.6M | $1.5M | 0.06% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 1 | $1.3M | $1.2M | 0.04% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $820K | $777K | 0.00% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 2 | $462K | $465K | 0.04% |
| HYBB iShares BB Rated Corporate Bond ETF | 2026-07-31 | 2 | $363K | $346K | 0.08% |
| BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 2026-05-31 | 2 | $317K | $298K | 0.05% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $290K | $264K | 0.05% |
| EUHY iShares Euro High Yield Corporate Bond USD Hedged ETF | 2026-07-31 | 1 | $200K | $225K | 0.09% |
| HYXF iShares ESG Advanced High Yield Corporate Bond ETF | 2026-07-31 | 1 | $201K | $183K | 0.09% |
| FHYS Federated Hermes Short Duration High Yield ETF | 2026-05-31 | 1 | $150K | $137K | 0.27% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.46: safer than 53% of companies (60th percentile in Basic Materials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $3.26B |
| Debt barrier (short-term + ½ long-term debt) | $687.0M |
| Equity volatility (1 year) | 38.1% |
| Asset value / asset volatility (solved) | $3.91B / 31.7% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 142 bp spread prices in about 2.4% 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 = 2.18 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ASH'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 | 31 | $7.9M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 347 | $3.36B | 9 | $12.5M | 12 | $38.5M | 0 |
| 2026-03-31 | 334 | $2.38B | 8 | $10.7M | 2 | $1.4M | 0 |
| 2025-12-31 | 324 | $2.73B | 8 | $16.8M | 7 | $6.6M | 0 |
| 2025-09-30 | 344 | $2.01B | 6 | $6.7M | 5 | $3.8M | 0 |
| 2025-06-30 | 337 | $2.21B | 8 | $7.3M | 8 | $6.3M | 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.