Calumet Inc. bonds CLMT
Who owns Calumet 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. CLMT 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 |
|---|---|---|---|---|---|---|---|---|---|
| 131477BA8 | 9.75% fixed | 2031-02-15 | USD | 106.99 | 7.89% | 357 bp | 25 | $47.5M | 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 | 1 | $47.5M | 106.99 | 7.89% | 357 bp | 25 |
| Jun 2026 | 1 | $157.5M | 105.79 | 8.22% | 402 bp | 43 |
| May 2026 | 1 | $36.4M | 105.88 | 8.21% | 408 bp | 30 |
| Apr 2026 | 1 | $43.5M | 105.99 | 8.21% | 428 bp | 27 |
| Mar 2026 | 1 | $153.3M | 106.28 | 8.16% | 432 bp | 34 |
| Feb 2026 | 1 | $23.2M | 106.58 | 8.11% | 443 bp | 26 |
| Jan 2026 | 1 | $11.6M | 103.13 | 8.96% | 518 bp | 15 |
| Dec 2025 | 1 | $152.0M | 100.15 | 7.97% | 443 bp | 16 |
| Nov 2025 | 1 | $17.1M | 99.74 | 8.36% | 471 bp | 16 |
| Oct 2025 | 1 | $16.5M | 99.73 | 8.35% | 476 bp | 14 |
| Sep 2025 | 1 | $150.4M | 99.20 | 8.77% | 514 bp | 15 |
| Aug 2025 | 1 | $16.4M | 99.80 | 8.27% | 445 bp | 17 |
| Jul 2025 | 1 | $15.3M | 98.86 | 8.97% | 498 bp | 13 |
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. 32 added, 8 cut, 13 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $100.0M | $105.8M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $10.8M | $11.6M | $708K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $7.7M | $8.1M | $3.9M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $7.6M | $8.1M | new |
| Invesco High Yield Fund AIM Investment Securities Funds (Invesco Investment Securities Funds) | 2026-05-31 | $7.6M | $8.1M | $2.4M |
| Franklin High Yield Corporate ETF Franklin Templeton ETF Trust | 2026-06-30 | $7.2M | $7.6M | $2.9M |
| Franklin Income VIP Fund Franklin Templeton Variable Insurance Products Trust | 2026-06-30 | $7.0M | $7.4M | $0 |
| Payden High Income Fund PAYDEN & RYGEL INVESTMENT GROUP | 2026-07-31 | $6.8M | $7.2M | $680K |
| FlexShares High Yield Value - Scored Bond Index Fund FlexShares Trust | 2026-07-31 | $5.3M | $5.6M | $500K |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.3M | $5.6M | $3.3M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $4.7M | $5.0M | $360K |
| Franklin Templeton SMACS Series I Franklin Strategic Series | 2026-05-31 | $4.0M | $4.2M | $0 |
| Buffalo High Yield Fund Buffalo Funds | 2026-06-30 | $3.5M | $3.7M | $0 |
| Franklin High Income Fund Franklin High Income Trust | 2026-06-30 | $3.0M | $3.2M | $0 |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $2.7M | $2.9M | -$1.7M |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $2.6M | $2.7M | $150K |
| Franklin Income Focus ETF Franklin Templeton ETF Trust | 2026-06-30 | $2.5M | $2.6M | $0 |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $2.3M | $2.5M | $0 |
| Putnam High Yield Fund | 2026-05-31 | $2.3M | $2.4M | $1.0M |
| Angel Oak Multi-Strategy Income Fund Angel Oak Funds Trust | 2026-07-31 | $2.1M | $2.2M | $30K |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $2.0M | $2.1M | new |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $1.9M | $2.0M | $0 |
| Empower High Yield Bond Fund EMPOWER FUNDS, INC. | 2026-06-30 | $1.9M | $2.0M | $0 |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $1.7M | $1.8M | $350K |
| Harbor Ares Systematic High Yield ETF Harbor ETF Trust | 2026-07-31 | $1.6M | $1.7M | $137K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Fidelity Advisor Multi-Asset Income Fund ($6.6M), Nuveen ESG High Yield Corporate Bond ETF ($100K).
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 |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $10.8M | $11.6M | 0.04% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $7.7M | $8.1M | 0.07% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 1 | $7.6M | $8.1M | 0.05% |
| FLHY Franklin High Yield Corporate ETF | 2026-06-30 | 1 | $7.2M | $7.6M | 0.64% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $5.3M | $5.6M | 0.51% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $5.3M | $5.6M | 0.08% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $4.7M | $5.0M | 0.07% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $2.7M | $2.9M | 0.06% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 1 | $1.7M | $1.8M | 0.05% |
| SIHY Harbor Ares Systematic High Yield ETF | 2026-07-31 | 1 | $1.6M | $1.7M | 1.13% |
| XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $1.4M | $1.5M | 0.57% |
| CARY Angel Oak Income ETF | 2026-07-31 | 1 | $1.4M | $1.5M | 0.11% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 1 | $1.4M | $1.4M | 0.27% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 1 | $1.3M | $1.3M | 0.01% |
| AOHY Angel Oak High Yield Opportunities ETF | 2026-07-31 | 1 | $1.1M | $1.1M | 0.91% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.74: safer than 46% of companies (52th percentile in Basic Materials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $4.86B |
| Debt barrier (short-term + ½ long-term debt) | $1.15B |
| Equity volatility (1 year) | 42.2% |
| Asset value / asset volatility (solved) | $5.95B / 34.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 357 bp spread prices in about 6.0% 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 = 1.16 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CLMT'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 | 18 | $403.2M | 1 | $2.6M | 0 | — | 0 |
| 2026-06-30 | 183 | $1.65B | 14 | $178.8M | 11 | $80.4M | 0 |
| 2026-03-31 | 168 | $1.44B | 16 | $161.5M | 13 | $267.8M | 0 |
| 2025-12-31 | 136 | $892.9M | 10 | $95.4M | 12 | $109.5M | 0 |
| 2025-09-30 | 144 | $823.8M | 12 | $84.8M | 15 | $84.4M | 0 |
| 2025-06-30 | 130 | $679.9M | 11 | $63.3M | 17 | $54.8M | 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.