Brown-Forman Corporation bonds BF-B
Who owns Brown-Forman 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. BF-B 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 |
|---|---|---|---|---|---|---|---|---|---|
| 115637AR1 | 2.6% fixed | 2028-07-07 | GBP | 95.80 | 4.90% | — | 2 | $12.0M | Jul 2026 |
| 115637AU4 | 4.75% fixed | 2033-04-15 | USD | 97.56 | 5.18% | 74 bp | 6 | $3.4M | Jul 2026 |
| 115637AT7 | 4% fixed | 2038-04-15 | USD | 87.25 | 5.49% | 80 bp | 5 | $20.0M | Jul 2026 |
| 115637AL4 | 3.75% fixed | 2043-01-15 | USD | 78.02 | 5.83% | 99 bp | 2 | $558K | May 2026 |
| 115637AP5 | 4.5% fixed | 2045-07-15 | USD | 81.91 | 6.13% | 107 bp | 3 | $1.2M | 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 | 4 | $36.6M | 91.52 | 5.49% | 80 bp | 6 |
| Jun 2026 | 4 | $53.7M | 93.94 | 5.25% | 70 bp | 19 |
| May 2026 | 4 | $41.8M | 86.35 | 5.61% | 83 bp | 14 |
| Apr 2026 | 4 | $36.5M | 91.03 | 5.50% | 107 bp | 6 |
| Mar 2026 | 4 | $52.5M | 93.55 | 5.37% | 101 bp | 18 |
| Feb 2026 | 4 | $40.2M | 90.52 | 5.12% | 69 bp | 14 |
| Jan 2026 | 4 | $30.4M | 93.17 | 5.12% | 78 bp | 6 |
| Dec 2025 | 4 | $63.4M | 95.65 | 5.11% | 83 bp | 18 |
| Nov 2025 | 4 | $41.2M | 89.44 | 5.25% | 81 bp | 14 |
| Oct 2025 | 4 | $29.7M | 93.00 | 5.09% | 89 bp | 6 |
| Sep 2025 | 3 | $63.5M | 89.91 | 5.10% | 78 bp | 18 |
| Aug 2025 | 4 | $41.3M | 87.29 | 5.47% | 84 bp | 13 |
| Jul 2025 | 4 | $27.9M | 90.89 | 5.47% | 76 bp | 6 |
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. 16 added, 13 cut, 4 new holders and 0 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $23.3M | $21.8M | $425K |
| Permanent Portfolio PERMANENT PORTFOLIO FAMILY OF FUNDS | 2026-07-31 | $20.0M | $17.4M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $16.9M | $16.7M | $1.9M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $15.9M | $15.2M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $7.7M | $7.0M | -$85K |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $4.7M | $6.1M | $0 |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $4.6M | $5.9M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $5.8M | $5.7M | $225K |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $4.3M | $4.2M | $85K |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $3.9M | $3.4M | $1.3M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $3.2M | $3.2M | $120K |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $3.4M | $3.0M | -$30K |
| Invesco BulletShares 2033 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $2.5M | $2.4M | -$10K |
| iShares iBonds Dec 2033 Term Corporate ETF iShares Trust | 2026-07-31 | $2.0M | $1.9M | -$270K |
| Avantis Core Fixed Income ETF American Century ETF Trust | 2026-05-31 | $1.9M | $1.9M | $0 |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $2.0M | $1.8M | $340K |
| Versatile Bond Portfolio PERMANENT PORTFOLIO FAMILY OF FUNDS | 2026-07-31 | $1.8M | $1.5M | $0 |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $1.2M | $1.2M | -$83K |
| VANGUARD LONG-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $1.1M | $982K | $15K |
| iShares 10+ Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $1.0M | $864K | $100K |
| VANGUARD BALANCED INDEX FUND VANGUARD VALLEY FORGE FUNDS | 2026-06-30 | $895K | $833K | $0 |
| iShares U.S. Long Credit Bond Index Fund BlackRock Funds | 2026-07-31 | $963K | $812K | $0 |
| EQ/Core Bond Index Portfolio EQ Advisors Trust | 2026-06-30 | $800K | $791K | $0 |
| Nuveen Bond Index Fund TIAA-CREF Funds | 2026-06-30 | $625K | $571K | $0 |
| Avantis Core Fixed Income Fund American Century ETF Trust | 2026-05-31 | $500K | $493K | $0 |
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 | 3 | $23.3M | $21.8M | 0.01% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $16.9M | $16.7M | 0.02% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 3 | $7.7M | $7.0M | 0.01% |
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 1 | $4.7M | $6.1M | 0.01% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 1 | $5.8M | $5.7M | 0.01% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $4.3M | $4.2M | 0.02% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $3.9M | $3.4M | 0.04% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 1 | $3.2M | $3.2M | 0.03% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $3.4M | $3.0M | 0.02% |
| IBDY iShares iBonds Dec 2033 Term Corporate ETF | 2026-07-31 | 1 | $2.0M | $1.9M | 0.18% |
| AVIG Avantis Core Fixed Income ETF | 2026-05-31 | 1 | $1.9M | $1.9M | 0.10% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 3 | $2.0M | $1.8M | 0.00% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 1 | $1.2M | $1.2M | 0.01% |
| BLV VANGUARD LONG-TERM BOND INDEX FUND | 2026-06-30 | 1 | $1.1M | $982K | 0.01% |
| IGLB iShares 10+ Year Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $1.0M | $864K | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 7.00: safer than 66% of companies (56th percentile in Consumer Defensive). Market-implied, prices to 2026-10-16, balance sheet 2026-07-31.
| Equity value | $13.51B |
| Debt barrier (short-term + ½ long-term debt) | $1.40B |
| Equity volatility (1 year) | 36.9% |
| Asset value / asset volatility (solved) | $14.85B / 33.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 80 bp spread prices in about 1.3% 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 = 4.33 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in BF-B'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 | 68 | $52.2M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 609 | $5.79B | 8 | $10.7M | 13 | $25.7M | 0 |
| 2026-03-31 | 593 | $4.35B | 7 | $18.1M | 12 | $28.6M | 0 |
| 2025-12-31 | 657 | $5.69B | 8 | $36.7M | 9 | $27.0M | 0 |
| 2025-09-30 | 642 | $6.35B | 11 | $21.2M | 12 | $26.4M | 0 |
| 2025-06-30 | 649 | $5.72B | 10 | $55.0M | 9 | $28.4M | 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.