Baxter International Inc. bonds BAX
Who owns Baxter International 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. BAX 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 |
|---|---|---|---|---|---|---|---|---|---|
| 071813BQ1 | 2.6% fixed | 2026-08-15 | USD | 99.90 | 4.92% | 119 bp | 3 | $5.9M | Jul 2026 |
| 071813CL1 | 1.915% fixed | 2027-02-01 | USD | 98.59 | 4.80% | 96 bp | 6 | $17.8M | Jul 2026 |
| 071813CP2 | 2.272% fixed | 2028-12-01 | USD | 93.97 | 5.04% | 81 bp | 14 | $25.0M | Jul 2026 |
| 071813DC0 | 4.45% fixed | 2029-02-15 | USD | 98.49 | 5.09% | 85 bp | 8 | $12.3M | Jul 2026 |
| 071813BU2 | 1.3% fixed | 2029-05-15 | EUR | 93.92 | 3.63% | — | 4 | $8.6M | Jul 2026 |
| 071813BY4 | 3.95% fixed | 2030-04-01 | USD | 95.71 | 5.25% | 97 bp | 14 | $69.1M | Jul 2026 |
| 071813DD8 | 4.9% fixed | 2030-12-15 | USD | 98.14 | 5.38% | 107 bp | 18 | $28.0M | Jul 2026 |
| 071813CB3 | 1.73% fixed | 2031-04-01 | USD | 84.63 | 5.51% | 119 bp | 12 | $7.8M | Jul 2026 |
| 071813CS6 | 2.539% fixed | 2032-02-01 | USD | 85.53 | 5.63% | 127 bp | 23 | $44.6M | Jul 2026 |
| 071813CQ0 | 2.539% fixed | 2032-02-01 | USD | 83.40 | 6.09% | 184 bp | 1 | $208K | Jun 2026 |
| 071813DE6 | 5.65% fixed | 2035-12-15 | USD | 97.76 | 5.96% | 139 bp | 26 | $28.9M | Jul 2026 |
| 071813AX7 | 6.25% fixed | 2037-12-01 | USD | 99.88 | 6.26% | 160 bp | 1 | $749K | Jul 2026 |
| 071813BG3 | 4.5% fixed | 2043-06-15 | USD | 77.36 | 6.76% | 189 bp | 2 | $754K | May 2026 |
| 071813BP3 | 3.5% fixed | 2046-08-15 | USD | 65.27 | 6.67% | 156 bp | 3 | $743K | Jul 2026 |
| 071813CV9 | 3.132% fixed | 2051-12-01 | USD | 57.25 | 6.64% | 154 bp | 10 | $13.8M | 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 | 13 | $263.3M | 95.71 | 5.57% | 123 bp | 26 |
| Jun 2026 | 13 | $1.06B | 94.39 | 5.39% | 117 bp | 58 |
| May 2026 | 12 | $706.8M | 95.26 | 5.55% | 132 bp | 33 |
| Apr 2026 | 13 | $250.0M | 96.07 | 5.52% | 154 bp | 26 |
| Mar 2026 | 13 | $1.03B | 93.18 | 5.63% | 170 bp | 64 |
| Feb 2026 | 12 | $699.2M | 96.22 | 5.02% | 124 bp | 35 |
| Jan 2026 | 12 | $341.7M | 96.23 | 4.78% | 100 bp | 30 |
| Dec 2025 | 11 | $951.4M | 94.44 | 4.85% | 113 bp | 74 |
| Nov 2025 | 13 | $694.3M | 97.42 | 4.86% | 110 bp | 33 |
| Oct 2025 | 9 | $430.1M | 93.86 | 4.73% | 104 bp | 16 |
| Sep 2025 | 9 | $554.6M | 87.69 | 4.73% | 98 bp | 49 |
| Aug 2025 | 10 | $342.8M | 90.38 | 4.93% | 99 bp | 28 |
| Jul 2025 | 10 | $475.9M | 93.62 | 4.69% | 73 bp | 17 |
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. 74 added, 57 cut, 20 new holders and 19 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $118.4M | $116.3M | $11.6M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $105.2M | $90.2M | -$2.7M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $103.1M | $87.7M | -$2.7M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $93.4M | $81.9M | -$4.5M |
| Baird Ultra Short Bond Fund Baird Funds Inc | 2026-06-30 | $71.3M | $70.2M | $0 |
| Capital Group Core Bond ETF Capital Group Fixed Income ETF Trust | 2026-06-30 | $70.1M | $66.4M | $13.6M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $62.6M | $61.5M | $7.1M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $64.3M | $60.4M | $0 |
| American Funds Strategic Bond Fund | 2026-06-30 | $66.3M | $59.8M | $13.4M |
| Baird Short-Term Bond Fund Baird Funds Inc | 2026-06-30 | $62.4M | $59.4M | $0 |
| Lord Abbett Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $58.1M | $55.8M | $0 |
| Bond Fund of America | 2026-06-30 | $55.9M | $54.9M | $0 |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $54.1M | $50.9M | $0 |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $52.3M | $49.7M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $49.8M | $47.3M | $6.0M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $39.0M | $37.3M | $0 |
| Intermediate Bond Fund of America | 2026-05-31 | $30.1M | $29.9M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $32.3M | $28.2M | -$4.6M |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $28.9M | $27.3M | -$123K |
| PGIM Short-Term Corporate Bond Fund Prudential Short-Term Corporate Bond Fund, Inc. | 2026-06-30 | $25.9M | $25.6M | $0 |
| American Balanced Fund | 2026-06-30 | $25.5M | $24.7M | $0 |
| Lord Abbett Core Fixed Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $23.6M | $22.5M | $0 |
| DFA Short-Term Extended Quality Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $22.2M | $21.2M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $23.6M | $21.1M | -$10.6M |
| Lord Abbett Core Plus Bond Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $22.6M | $20.6M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): AB Core Bond Portfolio ($6.5M), CTIVP - American Century Diversified Bond Fund ($5.1M), PIMCO Sector Fund Series - I ($4.6M), Avantis Short-Term Fixed Income ETF ($3.9M), AB Income Fund ($2.7M), AVIP Bond Portfolio ($2.0M), Wellington Global Multi-Strategy Fund ($1.4M), Nuveen Strategic Income Fund ($1.4M), EQ/Long-Term Bond Portfolio ($1.4M), Franklin Alternative Strategies Fund ($721K).
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 |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 9 | $105.2M | $90.2M | 0.02% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $93.4M | $81.9M | 0.12% |
| CGCB Capital Group Core Bond ETF | 2026-06-30 | 2 | $70.1M | $66.4M | 1.19% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 5 | $49.8M | $47.3M | 0.09% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 9 | $32.3M | $28.2M | 0.02% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 2 | $28.9M | $27.3M | 0.26% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $23.6M | $21.1M | 0.04% |
| IBD Inspire Corporate Bond ETF | 2026-05-31 | 4 | $22.4M | $20.5M | 4.39% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $19.7M | $18.5M | 0.08% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $21.7M | $18.1M | 0.06% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $19.5M | $17.5M | 0.10% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 5 | $17.5M | $16.7M | 0.02% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 2 | $21.0M | $15.8M | 0.19% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 2 | $15.4M | $14.7M | 0.28% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 11 | $15.9M | $14.0M | 0.08% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.90: safer than 36% of companies (35th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $12.95B |
| Debt barrier (short-term + ½ long-term debt) | $5.15B |
| Equity volatility (1 year) | 43.8% |
| Asset value / asset volatility (solved) | $17.88B / 31.7% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 123 bp spread prices in about 2.1% 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 = 2.30 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in BAX'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 | 85 | $106.3M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 678 | $11.67B | 17 | $60.4M | 20 | $96.1M | 0 |
| 2026-03-31 | 649 | $7.58B | 17 | $96.0M | 19 | $81.0M | 0 |
| 2025-12-31 | 700 | $10.21B | 17 | $119.6M | 21 | $80.0M | 0 |
| 2025-09-30 | 723 | $11.14B | 19 | $84.6M | 19 | $55.5M | 0 |
| 2025-06-30 | 762 | $14.20B | 16 | $47.6M | 18 | $113.4M | 0 |
Officials trading BAX bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2023-07-13 | Ro Khanna | sale | Baxter International Inc | $1,001 - $15,000 | filing |
| 2023-06-28 | Ro Khanna | sale | Baxter International Inc | $15,001 - $50,000 | filing |
| 2023-06-26 | Ro Khanna | purchase | Baxter International Inc | $15,001 - $50,000 | filing |
| 2023-04-20 | Ro Khanna | purchase | Baxter International Inc | $1,001 - $15,000 | filing |
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.