CDW Corporation bonds CDW
Who owns CDW 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. CDW 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 |
|---|---|---|---|---|---|---|---|---|---|
| 12513GBG3 | 2.67% fixed | 2026-12-01 | USD | 99.36 | 4.60% | 83 bp | 17 | $67.6M | Jul 2026 |
| 12513GBD0 | 4.25% fixed | 2028-04-01 | USD | 98.66 | 5.09% | 93 bp | 12 | $17.2M | Jul 2026 |
| 12513GBH1 | 3.276% fixed | 2028-12-01 | USD | 96.00 | 5.11% | 88 bp | 14 | $24.0M | Jul 2026 |
| 12513GBF5 | 3.25% fixed | 2029-02-15 | USD | 95.28 | 5.26% | 102 bp | 20 | $15.6M | Jul 2026 |
| 12513GBK4 | 5.1% fixed | 2030-03-01 | USD | 98.97 | 5.42% | 114 bp | 22 | $17.8M | Jul 2026 |
| 12513GBJ7 | 3.569% fixed | 2031-12-01 | USD | 90.70 | 5.61% | 126 bp | 10 | $7.7M | Jul 2026 |
| 12513GBL2 | 5.55% fixed | 2034-08-22 | USD | 96.97 | 6.03% | 152 bp | 11 | $5.8M | 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 | 7 | $155.6M | 96.97 | 5.34% | 108 bp | 22 |
| Jun 2026 | 7 | $1.19B | 98.74 | 5.11% | 95 bp | 48 |
| May 2026 | 7 | $293.6M | 98.74 | 5.12% | 106 bp | 24 |
| Apr 2026 | 7 | $156.9M | 98.88 | 4.99% | 115 bp | 23 |
| Mar 2026 | 7 | $1.11B | 98.28 | 5.10% | 134 bp | 48 |
| Feb 2026 | 7 | $342.5M | 98.96 | 4.58% | 102 bp | 31 |
| Jan 2026 | 7 | $159.7M | 98.85 | 4.53% | 87 bp | 23 |
| Dec 2025 | 7 | $1.10B | 98.69 | 4.56% | 96 bp | 44 |
| Nov 2025 | 7 | $364.5M | 98.38 | 4.54% | 91 bp | 37 |
| Oct 2025 | 7 | $155.6M | 98.22 | 4.62% | 101 bp | 24 |
| Sep 2025 | 7 | $1.12B | 98.11 | 4.61% | 102 bp | 50 |
| Aug 2025 | 7 | $393.6M | 97.86 | 4.61% | 91 bp | 38 |
| Jul 2025 | 7 | $161.3M | 97.38 | 4.86% | 97 bp | 25 |
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. 53 added, 28 cut, 9 new holders and 27 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $131.2M | $124.8M | $0 |
| PIMCO Income Fund PIMCO FUNDS | 2026-06-30 | $119.7M | $115.4M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $102.4M | $99.9M | $50.4M |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $79.3M | $74.6M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $64.0M | $58.8M | $4.1M |
| Baird Ultra Short Bond Fund Baird Funds Inc | 2026-06-30 | $51.3M | $50.8M | $0 |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $48.3M | $46.4M | $1.0M |
| AST Multi-Sector Fixed Income Portfolio Advanced Series Trust | 2026-06-30 | $46.1M | $45.7M | $0 |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $40.8M | $39.3M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $36.6M | $35.8M | $206K |
| Thornburg Strategic Income Fund THORNBURG INVESTMENT TRUST | 2026-06-30 | $32.7M | $32.3M | $0 |
| PIMCO Low Duration Income Fund PIMCO FUNDS | 2026-06-30 | $30.1M | $29.8M | $0 |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $29.5M | $28.2M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $27.8M | $26.9M | $4.3M |
| Thornburg Limited Term Income Fund THORNBURG INVESTMENT TRUST | 2026-06-30 | $27.3M | $26.8M | $0 |
| PGIM Short-Term Corporate Bond Fund Prudential Short-Term Corporate Bond Fund, Inc. | 2026-06-30 | $26.7M | $26.0M | $0 |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $24.6M | $24.1M | $0 |
| Guggenheim Limited Duration Fund Guggenheim Funds Trust | 2026-06-30 | $23.2M | $22.9M | $0 |
| Bridge Builder Core Bond Fund Bridge Builder Trust | 2026-06-30 | $22.1M | $21.9M | $8.0M |
| Loomis Sayles Income Fund LOOMIS SAYLES FUNDS I | 2026-06-30 | $21.2M | $20.9M | $0 |
| Baird Short-Term Bond Fund Baird Funds Inc | 2026-06-30 | $20.6M | $19.8M | $15.2M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $18.4M | $18.3M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $18.1M | $17.2M | -$2.8M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $17.7M | $16.6M | $1.2M |
| Invesco BulletShares 2026 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $16.5M | $16.4M | $4.6M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Nomura Diversified Income Fund ($12.1M), Fidelity Corporate Bond Fund ($11.1M), iShares Investment Grade Systematic Bond ETF ($6.5M), Fidelity Advisor Limited Term Bond Fund ($4.8M), Optimum Fixed Income Fund ($4.1M), Fidelity Intermediate Bond Fund ($3.8M), Fidelity Series Corporate Bond Fund ($3.4M), Nomura VIP Corporate Bond Series ($2.7M), BlackRock Systematic Multi-Strategy Fund ($2.5M), Nomura Global 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 |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $64.0M | $58.8M | 0.09% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 5 | $36.6M | $35.8M | 0.01% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $27.8M | $26.9M | 0.05% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 6 | $18.1M | $17.2M | 0.01% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $17.7M | $16.6M | 0.03% |
| BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 2026-05-31 | 1 | $16.5M | $16.4M | 0.43% |
| IBDR iShares iBonds Dec 2026 Term Corporate ETF | 2026-07-31 | 1 | $14.7M | $14.6M | 0.43% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $13.9M | $13.5M | 0.06% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $12.5M | $12.1M | 0.02% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 3 | $11.9M | $11.5M | 0.11% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $11.8M | $11.0M | 0.06% |
| IBHF iShares iBonds 2026 Term High Yield and Income ETF | 2026-07-31 | 1 | $8.8M | $8.8M | 1.08% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 2 | $8.5M | $8.0M | 0.07% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 6 | $8.2M | $7.9M | 0.07% |
| IBDT iShares iBonds Dec 2028 Term Corporate ETF | 2026-07-31 | 2 | $8.0M | $7.8M | 0.19% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.54: safer than 44% of companies (42th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $19.06B |
| Debt barrier (short-term + ½ long-term debt) | $3.41B |
| Equity volatility (1 year) | 47.5% |
| Asset value / asset volatility (solved) | $22.33B / 40.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 108 bp spread prices in about 1.8% 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'' = 1.03 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CDW'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 | 88 | $167.6M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 744 | $18.41B | 13 | $128.6M | 14 | $136.6M | 0 |
| 2026-03-31 | 736 | $12.41B | 10 | $33.2M | 10 | $53.9M | 0 |
| 2025-12-31 | 780 | $15.96B | 5 | $25.6M | 10 | $31.8M | 0 |
| 2025-09-30 | 805 | $18.85B | 9 | $46.8M | 11 | $54.5M | 0 |
| 2025-06-30 | 836 | $21.34B | 13 | $28.1M | 14 | $50.8M | 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.