Cadence Design Systems, Inc. bonds CDNS
Who owns Cadence Design Systems, 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. CDNS 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 |
|---|---|---|---|---|---|---|---|---|---|
| 127387AM0 | 4.2% fixed | 2027-09-10 | USD | 99.60 | 4.57% | 50 bp | 12 | $15.2M | Jul 2026 |
| 127387AN8 | 4.3% fixed | 2029-09-10 | USD | 98.56 | 4.80% | 54 bp | 20 | $20.2M | Jul 2026 |
| 127387AP3 | 4.7% fixed | 2034-09-10 | USD | 96.33 | 5.26% | 75 bp | 10 | $32.1M | 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 | 3 | $67.5M | 98.56 | 4.80% | 54 bp | 20 |
| Jun 2026 | 3 | $176.3M | 99.19 | 4.57% | 45 bp | 37 |
| May 2026 | 3 | $158.3M | 99.40 | 4.50% | 47 bp | 30 |
| Apr 2026 | 3 | $92.4M | 99.64 | 4.41% | 57 bp | 22 |
| Mar 2026 | 3 | $187.5M | 99.69 | 4.40% | 64 bp | 40 |
| Feb 2026 | 3 | $163.9M | 100.78 | 3.98% | 42 bp | 33 |
| Jan 2026 | 3 | $100.5M | 100.44 | 4.11% | 45 bp | 21 |
| Dec 2025 | 3 | $201.5M | 100.48 | 4.16% | 55 bp | 40 |
| Nov 2025 | 3 | $173.0M | 100.53 | 4.14% | 54 bp | 36 |
| Oct 2025 | 3 | $115.9M | 100.30 | 4.19% | 61 bp | 19 |
| Sep 2025 | 3 | $236.0M | 100.43 | 4.14% | 54 bp | 36 |
| Aug 2025 | 3 | $159.0M | 100.38 | 4.12% | 39 bp | 30 |
| Jul 2025 | 3 | $124.2M | 99.68 | 4.39% | 48 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. 28 added, 16 cut, 5 new holders and 20 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 | $52.6M | $51.8M | $160K |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $47.4M | $46.7M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $31.6M | $31.2M | $4.2M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $24.3M | $23.4M | -$4.5M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $21.6M | $21.5M | $734K |
| T. Rowe Price New Income Fund, Inc. T. ROWE PRICE NEW INCOME FUND, INC. | 2026-05-31 | $11.8M | $11.6M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $10.8M | $10.8M | $396K |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $10.3M | $10.2M | $150K |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $9.9M | $9.7M | $257K |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $8.9M | $8.9M | -$375K |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $8.1M | $7.9M | $664K |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $7.5M | $7.4M | $1.5M |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $6.9M | $6.9M | -$602K |
| Invesco BulletShares 2029 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $6.9M | $6.8M | -$470K |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $6.8M | $6.7M | $0 |
| PGIM Ultra Short Bond ETF PGIM ETF Trust | 2026-05-29 | $6.3M | $6.3M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $5.9M | $5.9M | $10K |
| First Trust Enhanced Short Maturity ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $5.9M | $5.8M | $0 |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.7M | $5.6M | $207K |
| Goldman Sachs Short Duration Bond Fund GOLDMAN SACHS TRUST | 2026-06-30 | $5.7M | $5.6M | $0 |
| VANGUARD CORE BOND FUND VANGUARD MALVERN FUNDS | 2026-06-30 | $5.4M | $5.4M | $0 |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $5.3M | $5.2M | $450K |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $5.3M | $5.2M | -$10.4M |
| iShares ESG Aware 1-5 Year USD Corporate Bond ETF iShares Trust | 2026-05-31 | $5.2M | $5.2M | $2.5M |
| Invesco BulletShares 2027 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $5.1M | $5.1M | $70K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Allspring Core Bond Portfolio ($7.6M), Transamerica Short-Term Bond ($5.0M), SIIT CORE FIXED INCOME FUND ($4.8M), Select Bond Portfolio ($4.7M), Variable Portfolio - Partners Core Bond Fund ($3.1M), Allspring Ultra Short-Term Income Fund ($3.0M), Core Bond Fund ($2.8M), SIMT Core Fixed Income Fund ($1.8M), Strategic Bond Fund ($1.6M), Core Bond Trust ($1.2M).
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 |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 3 | $52.6M | $51.8M | 0.01% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $31.6M | $31.2M | 0.05% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $21.6M | $21.5M | 0.04% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $10.8M | $10.8M | 0.02% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 3 | $10.3M | $10.2M | 0.01% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 1 | $9.9M | $9.7M | 0.02% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $8.9M | $8.9M | 0.04% |
| IBDU iShares iBonds Dec 2029 Term Corporate ETF | 2026-07-31 | 1 | $8.1M | $7.9M | 0.20% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $7.5M | $7.4M | 0.02% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 1 | $6.9M | $6.9M | 0.06% |
| BSCT Invesco BulletShares 2029 Corporate Bond ETF | 2026-05-31 | 1 | $6.9M | $6.8M | 0.24% |
| PULS PGIM Ultra Short Bond ETF | 2026-05-29 | 1 | $6.3M | $6.3M | 0.04% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $5.9M | $5.9M | 0.03% |
| FTSM First Trust Enhanced Short Maturity ETF | 2026-07-31 | 1 | $5.9M | $5.8M | 0.09% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 3 | $5.7M | $5.6M | 0.05% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 10.69: safer than 83% of companies (83th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $90.00B |
| Debt barrier (short-term + ½ long-term debt) | $1.24B |
| Equity volatility (1 year) | 40.4% |
| Asset value / asset volatility (solved) | $91.19B / 39.8% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 54 bp spread prices in about 0.9% 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'' = 5.31 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CDNS'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 | 192 | $779.8M | 0 | — | 2 | $1.0M | 0 |
| 2026-06-30 | 1,497 | $88.05B | 35 | $2.29B | 42 | $1.64B | 1 |
| 2026-03-31 | 1,392 | $55.11B | 29 | $1.06B | 33 | $792.4M | 0 |
| 2025-12-31 | 1,426 | $71.49B | 35 | $711.4M | 35 | $539.6M | 0 |
| 2025-09-30 | 1,373 | $78.82B | 37 | $713.0M | 36 | $704.2M | 0 |
| 2025-06-30 | 1,321 | $69.08B | 44 | $692.3M | 40 | $704.6M | 0 |
Officials trading CDNS bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2026-03-03 | President Donald J. Trump | purchase | CADENCE DESIGN SYSTEMS 04.200% 091027 DTD091024 FC031025 CALL@MW+10BP YTM = 3.901 UNSOLICI | $15,001 - $50,000 | filing |
| 2026-03-03 | President Donald J. Trump | purchase | CADENCE DESIGN SYS INC 04.300% 091029 DTD091024 CALL@MW+12.5BP YTM = 4.072 UNSOLICITED ACC | $250,001 - $500,000 | 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.