Commercial Metals Company bonds CMC
Who owns Commercial Metals Company'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. CMC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 201723AQ6 | 4.125% fixed | 2030-01-15 | USD | 95.59 | 5.54% | 127 bp | 16 | $31.0M | Jul 2026 |
| 201723AP8 | 3.875% fixed | 2031-02-15 | USD | 93.09 | 5.62% | 130 bp | 18 | $23.1M | Jul 2026 |
| 201723AR4 | 4.375% fixed | 2032-03-15 | USD | 93.54 | 5.73% | 136 bp | 14 | $27.5M | Jul 2026 |
| 201723AS2 | 5.75% fixed | 2033-11-15 | USD | 98.27 | 6.05% | 157 bp | 57 | $128.0M | Jul 2026 |
| 201723AV5 | 6% fixed | 2035-12-15 | USD | 98.31 | 6.24% | 167 bp | 60 | $154.6M | 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 | 5 | $364.3M | 95.59 | 5.73% | 136 bp | 60 |
| Jun 2026 | 5 | $425.1M | 96.92 | 5.46% | 123 bp | 121 |
| May 2026 | 5 | $151.0M | 96.01 | 5.55% | 135 bp | 57 |
| Apr 2026 | 5 | $353.7M | 95.91 | 5.57% | 157 bp | 61 |
| Mar 2026 | 5 | $419.2M | 95.27 | 5.87% | 191 bp | 115 |
| Feb 2026 | 5 | $159.2M | 97.74 | 5.19% | 140 bp | 54 |
| Jan 2026 | 5 | $354.0M | 97.12 | 5.23% | 133 bp | 70 |
| Dec 2025 | 5 | $418.2M | 97.10 | 5.03% | 130 bp | 118 |
| Nov 2025 | 5 | $120.4M | 96.77 | 5.15% | 138 bp | 50 |
| Oct 2025 | 3 | $69.7M | 94.55 | 5.32% | 162 bp | 19 |
| Sep 2025 | 3 | $50.2M | 94.45 | 5.34% | 160 bp | 23 |
| Aug 2025 | 3 | $20.9M | 93.88 | 5.39% | 155 bp | 18 |
| Jul 2025 | 3 | $68.9M | 92.58 | 5.56% | 155 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. 70 added, 75 cut, 21 new holders and 13 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $109.0M | $105.8M | $9.3M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $61.2M | $59.4M | $7.3M |
| American High Income Trust | 2026-06-30 | $53.8M | $53.6M | $0 |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $37.8M | $36.9M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $31.0M | $30.9M | -$11.2M |
| Income Fund of America | 2026-07-31 | $28.5M | $28.0M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $27.2M | $27.2M | -$1.9M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $26.7M | $26.7M | -$5.7M |
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $17.9M | $17.6M | $5.3M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $17.6M | $17.4M | $596K |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $17.7M | $17.3M | -$3.2M |
| Guggenheim Macro Opportunities Fund Guggenheim Funds Trust | 2026-06-30 | $16.0M | $16.0M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $16.1M | $15.7M | $6.1M |
| Franklin High Income Fund Franklin High Income Trust | 2026-06-30 | $12.5M | $12.4M | $0 |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $12.2M | $12.1M | $0 |
| Artisan High Income Fund Artisan Partners Funds Inc. | 2026-06-30 | $12.3M | $11.8M | -$3.5M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $11.6M | $11.5M | $645K |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $11.8M | $11.2M | new |
| Eaton Vance Income Fund of Boston Eaton Vance Series Trust II | 2026-07-31 | $11.4M | $11.2M | $0 |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $10.7M | $10.6M | $0 |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $10.5M | $10.3M | $605K |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $9.8M | $9.6M | $0 |
| Capital Income Builder | 2026-07-31 | $8.3M | $8.2M | $0 |
| Loomis Sayles Strategic Income Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $8.2M | $8.2M | $0 |
| JNL/PPM America High Yield Bond Fund JNL Series Trust | 2026-06-30 | $7.6M | $7.6M | $2.4M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Hartford Dynamic Bond Fund ($2.0M), NVIT Strategic Income Fund ($930K), Fidelity Enhanced High Yield ETF ($800K), Janus Henderson Multi-Sector Income Fund ($266K), AB High Yield ETF ($227K), Harbor Ares Systematic High Yield ETF ($200K), GMO High Yield Fund ($200K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($182K), TSW High Yield Bond Fund ($150K), PIMCO Sector Fund Series - H ($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 | 5 | $61.2M | $59.4M | 0.21% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $26.7M | $26.7M | 0.17% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 4 | $17.6M | $17.4M | 0.15% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $11.6M | $11.5M | 0.16% |
| FLHY Franklin High Yield Corporate ETF | 2026-06-30 | 2 | $7.5M | $7.4M | 0.63% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $6.0M | $6.0M | 0.17% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 5 | $5.7M | $5.6M | 0.24% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 4 | $5.6M | $5.5M | 0.02% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 4 | $4.9M | $4.8M | 0.19% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 5 | $3.4M | $3.3M | 0.01% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 1 | $2.3M | $2.3M | 0.02% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 2 | $1.9M | $1.9M | 0.15% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 5 | $1.9M | $1.8M | 0.35% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 1 | $1.8M | $1.8M | 0.08% |
| HYBB iShares BB Rated Corporate Bond ETF | 2026-07-31 | 5 | $1.4M | $1.4M | 0.33% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.42: safer than 53% of companies (59th percentile in Basic Materials). Market-implied, prices to 2026-10-16, balance sheet 2026-08-31.
| Equity value | $7.15B |
| Debt barrier (short-term + ½ long-term debt) | $1.72B |
| Equity volatility (1 year) | 37.0% |
| Asset value / asset volatility (solved) | $8.80B / 30.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 136 bp spread prices in about 2.3% 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 = 2.91 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CMC'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 | 54 | $84.3M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 509 | $6.37B | 8 | $7.4M | 9 | $16.1M | 0 |
| 2026-03-31 | 490 | $5.39B | 9 | $10.0M | 9 | $19.6M | 0 |
| 2025-12-31 | 457 | $6.86B | 7 | $6.9M | 9 | $13.0M | 1 |
| 2025-09-30 | 415 | $5.77B | 8 | $32.0M | 13 | $37.0M | 0 |
| 2025-06-30 | 391 | $5.01B | 10 | $25.8M | 13 | $39.6M | 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.