Choice Hotels International, Inc. bonds CHH
Who owns Choice Hotels 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. CHH 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 |
|---|---|---|---|---|---|---|---|---|---|
| 169905AF3 | 3.7% fixed | 2029-12-01 | USD | 95.93 | 5.04% | 77 bp | 18 | $67.5M | Jul 2026 |
| 169905AG1 | 3.7% fixed | 2031-01-15 | USD | 93.75 | 5.29% | 98 bp | 11 | $19.5M | Jul 2026 |
| 169905AH9 | 5.85% fixed | 2034-08-01 | USD | 99.82 | 5.88% | 137 bp | 15 | $14.2M | 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 | 3 | $101.2M | 95.93 | 5.29% | 98 bp | 18 |
| Jun 2026 | 3 | $216.9M | 95.94 | 5.10% | 90 bp | 52 |
| May 2026 | 3 | $84.4M | 95.95 | 5.11% | 98 bp | 22 |
| Apr 2026 | 3 | $103.2M | 95.73 | 5.21% | 129 bp | 18 |
| Mar 2026 | 3 | $220.3M | 95.87 | 5.17% | 134 bp | 53 |
| Feb 2026 | 3 | $95.4M | 97.76 | 4.54% | 87 bp | 22 |
| Jan 2026 | 3 | $110.9M | 97.59 | 4.66% | 89 bp | 16 |
| Dec 2025 | 3 | $236.1M | 97.29 | 4.78% | 108 bp | 54 |
| Nov 2025 | 3 | $109.5M | 96.64 | 4.90% | 122 bp | 21 |
| Oct 2025 | 3 | $107.1M | 96.00 | 5.08% | 141 bp | 18 |
| Sep 2025 | 3 | $252.5M | 95.51 | 5.09% | 140 bp | 57 |
| Aug 2025 | 3 | $79.2M | 95.50 | 5.07% | 124 bp | 19 |
| Jul 2025 | 3 | $105.7M | 94.63 | 5.23% | 123 bp | 19 |
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. 23 added, 19 cut, 1 new holders and 4 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Core Fixed Income Fund Principal Funds, Inc | 2026-07-31 | $53.0M | $50.6M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $35.1M | $34.3M | -$2.0M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $33.5M | $32.8M | -$2.2M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $21.2M | $21.6M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $19.2M | $18.3M | $1.5M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $14.7M | $14.5M | $0 |
| Performance Trust Total Return Bond Fund Trust for Professional Managers | 2026-05-31 | $12.2M | $12.4M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $11.5M | $11.6M | -$13.1M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $10.8M | $10.9M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $8.2M | $8.4M | $0 |
| Thompson Bond Fund Thompson IM Funds, Inc. | 2026-05-31 | $8.0M | $8.0M | $0 |
| DFA Short-Term Extended Quality Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $7.9M | $7.6M | $0 |
| Goldman Sachs Investment Grade Credit Fund GOLDMAN SACHS TRUST | 2026-06-30 | $7.6M | $7.5M | $2.3M |
| Guggenheim Limited Duration Fund Guggenheim Funds Trust | 2026-06-30 | $7.3M | $6.9M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $7.1M | $6.7M | -$375K |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $6.7M | $6.5M | -$185K |
| Dimensional Short-Duration Fixed Income ETF Dimensional ETF Trust | 2026-07-31 | $6.7M | $6.4M | $0 |
| PIMCO Active Bond Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $6.1M | $6.1M | $200K |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $5.8M | $5.9M | $0 |
| High Yield Fund John Hancock Bond Trust | 2026-05-31 | $5.3M | $5.3M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $5.5M | $5.2M | $620K |
| Goldman Sachs Core Fixed Income Fund GOLDMAN SACHS TRUST | 2026-06-30 | $5.2M | $5.1M | $0 |
| PIMCO Total Return Fund PIMCO FUNDS | 2026-06-30 | $5.1M | $4.9M | $0 |
| Fidelity Real Estate Income Fund Fidelity Securities Fund | 2026-07-31 | $4.7M | $4.7M | $0 |
| Nationwide Bond Portfolio Nationwide Mutual Funds | 2026-07-31 | $4.9M | $4.7M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Frost Credit Fund ($2.0M), Mercer Opportunistic Fixed Income Fund ($900K), TCW METWEST HIGH YIELD BOND FUND ($500K), Victory High Income Fund ($316K).
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 | $35.1M | $34.3M | 0.01% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $19.2M | $18.3M | 0.04% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $11.5M | $11.6M | 0.02% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 1 | $8.2M | $8.4M | 0.02% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $7.1M | $6.7M | 0.01% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 3 | $6.7M | $6.5M | 0.00% |
| DFSD Dimensional Short-Duration Fixed Income ETF | 2026-07-31 | 1 | $6.7M | $6.4M | 0.09% |
| BOND PIMCO Active Bond Exchange-Traded Fund | 2026-06-30 | 2 | $6.1M | $6.1M | 0.07% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $5.5M | $5.2M | 0.02% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $4.2M | $4.2M | 0.02% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 3 | $4.3M | $4.2M | 0.04% |
| IBDU iShares iBonds Dec 2029 Term Corporate ETF | 2026-07-31 | 1 | $3.3M | $3.2M | 0.08% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 1 | $3.0M | $3.0M | 0.03% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $2.8M | $2.8M | 0.02% |
| IBDW iShares iBonds Dec 2031 Term Corporate ETF | 2026-07-31 | 1 | $2.4M | $2.3M | 0.09% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.55: safer than 54% of companies (52th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $5.01B |
| Debt barrier (short-term + ½ long-term debt) | $1.00B |
| Equity volatility (1 year) | 38.2% |
| Asset value / asset volatility (solved) | $5.97B / 32.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 98 bp spread prices in about 1.6% 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'' = 3.67 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CHH'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 | 26 | $52.3M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 322 | $3.77B | 3 | $11.7M | 9 | $44.3M | 0 |
| 2026-03-31 | 316 | $3.42B | 5 | $9.9M | 4 | $7.9M | 0 |
| 2025-12-31 | 319 | $3.07B | 3 | $1.9M | 4 | $4.2M | 0 |
| 2025-09-30 | 334 | $3.31B | 3 | $4.7M | 2 | $2.9M | 0 |
| 2025-06-30 | 346 | $4.15B | 2 | $406K | 4 | $3.9M | 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.