Centene Corp. bonds CNC
Who owns Centene Corp.'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. CNC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 15135BAR2 | 4.25% fixed | 2027-12-15 | USD | 99.64 | 4.52% | 40 bp | 25 | $63.6M | Jul 2026 |
| 15135BAY7 | 2.45% fixed | 2028-07-15 | USD | 94.90 | 5.23% | 102 bp | 38 | $146.3M | Jul 2026 |
| 15135BAT8 | 4.625% fixed | 2029-12-15 | USD | 97.00 | 5.61% | 134 bp | 65 | $293.5M | Jul 2026 |
| 15135BAV3 | 3.375% fixed | 2030-02-15 | USD | 92.51 | 5.74% | 146 bp | 48 | $190.6M | Jul 2026 |
| 15135BAW1 | 3% fixed | 2030-10-15 | USD | 89.92 | 5.73% | 143 bp | 46 | $140.4M | Jul 2026 |
| 15135BAX9 | 2.5% fixed | 2031-03-01 | USD | 86.99 | 5.77% | 145 bp | 40 | $148.0M | Jul 2026 |
| 15135BAZ4 | 2.625% fixed | 2031-08-01 | USD | 86.68 | 5.73% | 140 bp | 24 | $66.3M | 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 |
|---|---|---|---|---|---|---|
| Aug 2026 partial: filings still arriving | 1 | $34K | 97.48 | 5.47% | 117 bp | 1 |
| Jul 2026 | 7 | $1.05B | 92.51 | 5.73% | 140 bp | 65 |
| Jun 2026 | 7 | $2.43B | 93.24 | 5.51% | 132 bp | 142 |
| May 2026 | 7 | $1.49B | 92.94 | 5.50% | 142 bp | 71 |
| Apr 2026 | 7 | $584.2M | 92.94 | 5.46% | 159 bp | 52 |
| Mar 2026 | 7 | $2.52B | 90.37 | 6.16% | 239 bp | 108 |
| Feb 2026 | 7 | $1.94B | 92.75 | 5.43% | 178 bp | 70 |
| Jan 2026 | 7 | $665.3M | 92.28 | 5.53% | 178 bp | 38 |
| Dec 2025 | 7 | $2.90B | 92.10 | 5.53% | 184 bp | 101 |
| Nov 2025 | 7 | $1.87B | 91.87 | 5.56% | 187 bp | 66 |
| Oct 2025 | 7 | $737.4M | 92.02 | 5.47% | 182 bp | 38 |
| Sep 2025 | 7 | $3.09B | 92.03 | 5.44% | 177 bp | 107 |
| Aug 2025 | 7 | $1.95B | 91.16 | 5.64% | 182 bp | 71 |
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. 104 added, 102 cut, 164 new holders and 144 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Bond Fund of America | 2026-06-30 | $270.2M | $251.7M | $0 |
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $226.3M | $218.2M | $0 |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $224.7M | $216.5M | -$131.1M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $228.7M | $209.9M | new |
| Income Fund of America | 2026-07-31 | $186.2M | $171.0M | $17.1M |
| American High Income Trust | 2026-06-30 | $151.4M | $138.0M | $125.3M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $148.5M | $135.7M | $0 |
| Fidelity Series Investment Grade Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $138.7M | $131.1M | -$11.5M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $139.1M | $126.6M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $111.3M | $103.0M | new |
| PIMCO Total Return Fund PIMCO FUNDS | 2026-06-30 | $107.5M | $102.5M | $0 |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $107.2M | $101.1M | -$372K |
| Fidelity Investment Grade Bond Central Fund Fidelity Central Investment Portfolios II LLC | 2026-06-30 | $106.3M | $100.5M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $107.7M | $94.5M | new |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $92.2M | $84.8M | -$2.4M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $92.3M | $81.5M | $20.6M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $86.3M | $79.8M | $69.3M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $77.1M | $71.9M | new |
| Fidelity Total Bond ETF Fidelity Merrimack Street Trust | 2026-05-31 | $64.9M | $61.2M | $7.0M |
| Fidelity SAI Total Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $61.9M | $58.5M | -$353K |
| PIMCO Investment Grade Credit Bond Fund PIMCO FUNDS | 2026-06-30 | $61.5M | $55.7M | $0 |
| PIMCO Low Duration Income Fund PIMCO FUNDS | 2026-06-30 | $54.9M | $53.1M | -$4.0M |
| BBH Limited Duration Fund BBH Trust | 2026-07-31 | $56.7M | $52.5M | $0 |
| The Bond Fund of America AMERICAN FUNDS INSURANCE SERIES | 2026-06-30 | $51.1M | $49.0M | $0 |
| iShares Fallen Angels USD Bond ETF iShares Trust | 2026-07-31 | $52.5M | $48.6M | $50.7M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND ($164.1M), VANGUARD TOTAL BOND MARKET INDEX FUND ($131.8M), VANGUARD TOTAL BOND MARKET II INDEX FUND ($112.1M), TCW METWEST TOTAL RETURN BOND FUND ($75.1M), iShares Core U.S. Aggregate Bond ETF ($74.0M), iShares 1-5 Year Investment Grade Corporate Bond ETF ($68.7M), iShares iBoxx $ Investment Grade Corporate Bond ETF ($60.8M), VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND ($58.6M), VANGUARD SHORT-TERM BOND INDEX FUND ($43.6M), State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF ($35.7M).
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 | 6 | $228.7M | $209.9M | 0.73% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 7 | $111.3M | $103.0M | 0.91% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 6 | $86.3M | $79.8M | 1.05% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 5 | $77.1M | $71.9M | 1.47% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 6 | $64.9M | $61.2M | 0.23% |
| FALN iShares Fallen Angels USD Bond ETF | 2026-07-31 | 7 | $52.5M | $48.6M | 3.01% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 6 | $39.9M | $36.9M | 1.06% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 7 | $28.5M | $26.4M | 1.10% |
| BSCU Invesco BulletShares 2030 Corporate Bond ETF | 2026-05-31 | 2 | $28.4M | $26.0M | 1.02% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 3 | $26.7M | $23.4M | 0.45% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 7 | $25.0M | $23.3M | 0.92% |
| BSCT Invesco BulletShares 2029 Corporate Bond ETF | 2026-05-31 | 1 | $22.3M | $21.7M | 0.77% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 3 | $21.9M | $19.2M | 0.23% |
| BSCS Invesco BulletShares 2028 Corporate Bond ETF | 2026-05-31 | 1 | $19.0M | $18.0M | 0.52% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 7 | $17.8M | $16.5M | 0.04% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.18: safer than 39% of companies (38th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $33.94B |
| Debt barrier (short-term + ½ long-term debt) | $8.09B |
| Equity volatility (1 year) | 47.3% |
| Asset value / asset volatility (solved) | $41.69B / 38.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 140 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'' = 0.98 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CNC'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 | 140 | $568.0M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 990 | $29.51B | 29 | $528.7M | 37 | $1.04B | 0 |
| 2026-03-31 | 842 | $12.44B | 26 | $340.2M | 35 | $463.2M | 0 |
| 2025-12-31 | 897 | $18.72B | 29 | $564.4M | 43 | $937.6M | 0 |
| 2025-09-30 | 836 | $16.09B | 30 | $731.0M | 41 | $818.5M | 1 |
| 2025-06-30 | 857 | $25.69B | 27 | $224.8M | 23 | $126.2M | 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.