Caterpillar Inc. bonds CAT
Who owns Caterpillar 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. CAT 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 |
|---|---|---|---|---|---|---|---|---|---|
| 14913UAN0 | 4.45% fixed | 2026-10-16 | USD | 100.06 | 4.15% | 42 bp | 5 | $20.7M | Jul 2026 |
| 14913UAE0 | 4.5% fixed | 2027-01-08 | USD | 100.13 | 4.20% | 39 bp | 2 | $3.9M | Jul 2026 |
| 14913UAL4 | 5% fixed | 2027-05-14 | USD | 100.58 | 4.23% | 27 bp | 8 | $13.3M | Jul 2026 |
| 14912HRU6 | 3.05% fixed | 2027-05-15 | USD | 98.97 | 4.15% | 38 bp | 1 | $40K | May 2026 |
| 14913R3A3 | 3.6% fixed | 2027-08-12 | USD | 99.31 | 4.29% | 23 bp | 7 | $7.8M | Jul 2026 |
| 14913R2G1 | 1.1% fixed | 2027-09-14 | USD | 96.51 | 4.31% | 24 bp | 6 | $7.9M | Jul 2026 |
| 14913UAR1 | 4.4% fixed | 2027-10-15 | USD | 100.03 | 4.37% | 29 bp | 9 | $7.3M | Jul 2026 |
| 14913UAY6 | 4.4% fixed | 2028-03-03 | USD | 99.93 | 4.45% | 30 bp | 10 | $10.9M | Jul 2026 |
| 14913V2A5 | 4.2% fixed | 2028-05-15 | USD | 99.56 | 4.45% | 27 bp | 11 | $65.0M | Jul 2026 |
| 14913UAJ9 | 4.85% fixed | 2029-02-27 | USD | 100.84 | 4.50% | 26 bp | 8 | $6.8M | Jul 2026 |
| 14913V2C1 | 4.3% fixed | 2029-05-15 | USD | 99.22 | 4.60% | 35 bp | 9 | $53.4M | Jul 2026 |
| 14913UAQ3 | 4.38% fixed | 2029-08-16 | USD | 99.29 | 4.63% | 37 bp | 11 | $9.9M | Jul 2026 |
| 149123CG4 | 2.6% fixed | 2029-09-19 | USD | 94.25 | 4.59% | 32 bp | 9 | $6.0M | Jul 2026 |
| 14913UAU4 | 4.7% fixed | 2029-11-15 | USD | 100.27 | 4.61% | 34 bp | 13 | $13.0M | Jul 2026 |
| 149123CH2 | 2.6% fixed | 2030-04-09 | USD | 93.01 | 4.68% | 40 bp | 6 | $6.7M | Jul 2026 |
| 14913UBH2 | 4.15% fixed | 2031-01-08 | USD | 97.59 | 4.76% | 45 bp | 10 | $4.5M | Jul 2026 |
| 149123CK5 | 1.9% fixed | 2031-03-12 | USD | 88.33 | 4.74% | 43 bp | 7 | $4.0M | Jul 2026 |
| 14913V2D9 | 4.5% fixed | 2031-05-15 | USD | 98.59 | 4.83% | 51 bp | 19 | $35.8M | Jul 2026 |
| 149123CL3 | 5.2% fixed | 2035-05-15 | USD | 100.11 | 5.18% | 64 bp | 11 | $5.5M | Jul 2026 |
| 149123BL4 | 5.3% fixed | 2035-09-15 | USD | 101.05 | 5.15% | 59 bp | 3 | $1.1M | Jul 2026 |
| 149123BN0 | 6.05% fixed | 2036-08-15 | USD | 106.69 | 5.19% | 58 bp | 3 | $1.3M | Jul 2026 |
| 149123BR1 | 8.25% fixed | 2038-12-15 | USD | — | — | — | 1 | $38K | Jul 2026 |
| 149123BS9 | 5.2% fixed | 2041-05-27 | USD | 97.19 | 5.48% | 63 bp | 4 | $2.3M | Jul 2026 |
| 149123CB5 | 3.803% fixed | 2042-08-15 | USD | 79.96 | 5.73% | 82 bp | 8 | $18.4M | Jul 2026 |
| 149123CD1 | 4.3% fixed | 2044-05-15 | USD | 83.52 | 5.80% | 80 bp | 3 | $969K | Jul 2026 |
| 149123CF6 | 3.25% fixed | 2049-09-19 | USD | 66.98 | 5.88% | 77 bp | 7 | $1.9M | Jul 2026 |
| 149123CJ8 | 3.25% fixed | 2050-04-09 | USD | 67.18 | 5.82% | 71 bp | 4 | $2.0M | Jul 2026 |
| 149123CM1 | 5.5% fixed | 2055-05-15 | USD | 96.83 | 5.73% | 62 bp | 2 | $562K | Jul 2026 |
| 149123CE9 | 4.75% fixed | 2064-05-15 | USD | 83.33 | 5.85% | 75 bp | 4 | $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 | 28 | $311.9M | 99.22 | 4.74% | 43 bp | 19 |
| Jun 2026 | 27 | $709.2M | 99.68 | 4.55% | 35 bp | 39 |
| May 2026 | 28 | $866.0M | 100.02 | 4.44% | 30 bp | 30 |
| Apr 2026 | 26 | $251.7M | 100.01 | 4.36% | 44 bp | 14 |
| Mar 2026 | 25 | $608.1M | 99.84 | 4.37% | 51 bp | 44 |
| Feb 2026 | 27 | $821.1M | 100.44 | 3.93% | 27 bp | 30 |
| Jan 2026 | 27 | $277.0M | 100.34 | 4.05% | 30 bp | 16 |
| Dec 2025 | 26 | $589.6M | 100.35 | 3.99% | 36 bp | 49 |
| Nov 2025 | 27 | $822.7M | 100.15 | 3.96% | 31 bp | 30 |
| Oct 2025 | 28 | $294.0M | 100.19 | 4.02% | 41 bp | 16 |
| Sep 2025 | 27 | $625.1M | 100.29 | 4.06% | 43 bp | 57 |
| Aug 2025 | 28 | $835.4M | 99.37 | 4.06% | 31 bp | 32 |
| Jul 2025 | 30 | $336.1M | 99.97 | 4.32% | 40 bp | 21 |
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. 96 added, 40 cut, 38 new holders and 32 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $189.8M | $189.1M | $50.4M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $200.1M | $186.5M | $30.5M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $185.6M | $175.6M | $24.8M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $83.4M | $78.6M | $8.2M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $70.3M | $64.3M | -$3.3M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $53.3M | $52.7M | $8.3M |
| BBH Limited Duration Fund BBH Trust | 2026-07-31 | $48.3M | $48.0M | $39.1M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $46.0M | $47.0M | -$19.5M |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $41.5M | $41.4M | $10.4M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $41.7M | $37.5M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $37.7M | $37.4M | $9.3M |
| iShares Ultra Short Duration Bond Active ETF iShares U.S. ETF Trust | 2026-07-31 | $37.0M | $36.8M | $21.2M |
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $36.3M | $36.4M | $0 |
| Invesco BulletShares 2027 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $35.1M | $34.9M | $505K |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $35.0M | $34.8M | $14.4M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $33.7M | $31.6M | $2.9M |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $26.5M | $26.3M | $8.3M |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $25.7M | $26.2M | $0 |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $27.9M | $25.9M | $3.0M |
| Columbia Variable Portfolio - Select Corporate Income Fund Columbia Funds Variable Series Trust II | 2026-06-30 | $25.3M | $25.5M | $11.7M |
| iShares iBonds Dec 2027 Term Corporate ETF iShares Trust | 2026-07-31 | $25.0M | $24.8M | $1.1M |
| T. Rowe Price New Income Fund, Inc. T. ROWE PRICE NEW INCOME FUND, INC. | 2026-05-31 | $23.8M | $23.8M | new |
| VANGUARD WELLESLEY INCOME FUND | 2026-06-30 | $21.4M | $21.9M | $0 |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $23.6M | $21.8M | $5.3M |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $21.4M | $21.4M | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): PGIM Ultra Short Bond ETF ($52.0M), VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND ($34.8M), Transamerica Short-Term Bond ($15.9M), Nuveen Short Term Bond Fund ($10.0M), Hartford Dynamic Bond Fund ($9.7M), PIMCO Short-Term Floating NAV Portfolio III ($3.8M), PIMCO Short-Term Floating NAV Portfolio II ($3.5M), Columbia Variable Portfolio - Intermediate Bond Fund ($3.1M), Franklin Investment Grade Corporate ETF ($3.0M), VOYA INTERMEDIATE BOND FUND ($2.2M).
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 |
|---|---|---|---|---|---|
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 3 | $339.4M | $340.1M | 0.89% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 29 | $254.1M | $240.3M | 0.06% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 19 | $235.8M | $235.1M | 0.47% |
| FLOT iShares Floating Rate Bond ETF | 2026-07-31 | 11 | $152.6M | $152.7M | 1.48% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 31 | $99.8M | $95.0M | 0.07% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 11 | $86.7M | $86.1M | 0.81% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 20 | $74.8M | $74.2M | 0.34% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 8 | $70.3M | $64.3M | 0.22% |
| ICSH iShares Ultra Short Duration Bond Active ETF | 2026-07-31 | 3 | $60.6M | $60.5M | 0.74% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 18 | $54.9M | $54.5M | 0.08% |
| BSCR Invesco BulletShares 2027 Corporate Bond ETF | 2026-05-31 | 7 | $49.8M | $49.6M | 1.08% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $46.0M | $47.0M | 0.07% |
| FLRN State Street(R) SPDR(R) Bloomberg Investment Grade Floating Rate ETF | 2026-06-30 | 11 | $46.6M | $46.7M | 1.57% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 31 | $42.1M | $40.0M | 0.23% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 15 | $39.7M | $39.4M | 0.34% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 6.76: safer than 64% of companies (65th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $333.40B |
| Debt barrier (short-term + ½ long-term debt) | $29.13B |
| Equity volatility (1 year) | 40.0% |
| Asset value / asset volatility (solved) | $361.31B / 36.9% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 43 bp spread prices in about 0.7% 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 = 4.74 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CAT'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 | 784 | $3.32B | 4 | $4.1M | 2 | $2.2M | 0 |
| 2026-06-30 | 4,055 | $338.80B | 76 | $14.23B | 71 | $12.63B | 1 |
| 2026-03-31 | 3,751 | $189.50B | 80 | $6.49B | 62 | $7.09B | 2 |
| 2025-12-31 | 3,518 | $181.84B | 70 | $5.02B | 70 | $4.86B | 0 |
| 2025-09-30 | 3,140 | $154.50B | 62 | $3.72B | 64 | $3.73B | 0 |
| 2025-06-30 | 2,998 | $126.06B | 59 | $2.79B | 62 | $2.64B | 0 |
Officials trading CAT bonds
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.