Canadian Pacific Kansas City Ltd. bonds CP
Who owns Canadian Pacific Kansas City Ltd.'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. CP 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 |
|---|---|---|---|---|---|---|---|---|---|
| 13645RBE3 | 1.75% fixed | 2026-12-02 | USD | 99.15 | 4.29% | 52 bp | 11 | $50.2M | Jul 2026 |
| 13645RBC7 | 2.54% fixed | 2028-02-28 | CAD | 98.73 | 3.37% | — | 3 | $74.8M | Jul 2026 |
| 13645RAY0 | 4% fixed | 2028-06-01 | USD | 99.02 | 4.56% | 37 bp | 10 | $7.2M | Jul 2026 |
| 13645RAZ7 | 3.15% fixed | 2029-03-13 | CAD | 98.97 | 3.57% | — | 4 | $5.0M | Jul 2026 |
| 13645RBP8 | 4% fixed | 2029-03-15 | USD | 98.21 | 4.73% | 49 bp | 19 | $40.1M | Jul 2026 |
| 13648TAC1 | 2.875% fixed | 2029-11-15 | USD | 94.41 | 4.73% | 46 bp | 12 | $17.8M | Jul 2026 |
| 13648TAA5 | 2.05% fixed | 2030-03-05 | USD | 90.90 | 4.83% | 55 bp | 10 | $4.2M | Jul 2026 |
| 13645RBJ2 | 4.8% fixed | 2030-03-30 | USD | 99.82 | 4.85% | 57 bp | 8 | $5.2M | Jul 2026 |
| 13645RAD6 | 7.13% fixed | 2031-10-15 | USD | 109.32 | 5.07% | 73 bp | 8 | $7.3M | Jul 2026 |
| 13645RBF0 | 2.45% fixed | 2031-12-02 | USD | 88.09 | 5.02% | 67 bp | 17 | $29.5M | Jul 2026 |
| 13645RBL7 | 4% fixed | 2032-06-13 | CAD | 99.41 | 4.11% | — | 2 | $1.1M | Jul 2026 |
| 13645RAE4 | 5.75% fixed | 2033-03-15 | USD | 104.27 | 5.00% | 71 bp | 2 | $2.5M | May 2026 |
| 13645RBK9 | 5.2% fixed | 2035-03-30 | USD | 99.30 | 5.30% | 76 bp | 8 | $16.3M | Jul 2026 |
| 13645RAV6 | 4.8% fixed | 2035-09-15 | USD | 96.14 | 5.34% | 78 bp | 7 | $1.6M | Jul 2026 |
| 13645RBM5 | 4.4% fixed | 2036-01-13 | CAD | 98.94 | 4.54% | — | 1 | $71K | Jul 2026 |
| 13645RAF1 | 5.95% fixed | 2037-05-15 | USD | 103.39 | 5.53% | 89 bp | 2 | $1.2M | Jul 2026 |
| 13644ZAX5 | 6.45% fixed | 2039-11-17 | CAD | 112.92 | 5.10% | — | 2 | $1.6M | Jul 2026 |
| 13645RBG8 | 3% fixed | 2041-12-02 | USD | 71.71 | 5.81% | 94 bp | 8 | $6.7M | Jul 2026 |
| 13645RAQ7 | 5.75% fixed | 2042-01-15 | USD | 97.87 | 5.96% | 108 bp | 1 | $1.9M | Jul 2026 |
| 13648TAD9 | 4.3% fixed | 2043-05-15 | USD | 82.97 | 5.91% | 97 bp | 4 | $836K | Jul 2026 |
| 13645RAU8 | 4.8% fixed | 2045-08-01 | USD | 86.52 | 6.00% | 94 bp | 4 | $1.1M | Jul 2026 |
| 13648TAE7 | 4.95% fixed | 2045-08-15 | USD | 88.20 | 6.00% | 94 bp | 5 | $2.6M | Jul 2026 |
| 13648TAF4 | 4.7% fixed | 2048-05-01 | USD | 84.10 | 6.02% | 91 bp | 13 | $10.2M | Jul 2026 |
| 13645RBA1 | 3.05% fixed | 2050-03-09 | CAD | 70.92 | 5.20% | — | 3 | $2.3M | Jul 2026 |
| 13648TAG2 | 3.5% fixed | 2050-05-01 | USD | 67.98 | 6.06% | 95 bp | 10 | $2.8M | Jul 2026 |
| 13645RBH6 | 3.1% fixed | 2051-12-02 | USD | 62.48 | 6.00% | 89 bp | 11 | $28.0M | Jul 2026 |
| 13645RBN3 | 4.8% fixed | 2055-06-13 | CAD | 93.66 | 5.23% | — | 1 | $134K | Jul 2026 |
| 13645RBS2 | 5.5% fixed | 2056-03-15 | USD | 92.12 | 6.08% | 98 bp | 7 | $9.1M | Jul 2026 |
| 13648TAH0 | 4.2% fixed | 2069-11-15 | USD | 70.18 | 6.19% | 109 bp | 5 | $1.6M | Jul 2026 |
| 13645RAX2 | 6.125% fixed | 2115-09-15 | USD | 97.83 | — | — | 11 | $5.3M | 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 |
|---|---|---|---|---|---|---|
| Jul 2026 | 29 | $335.6M | 96.14 | 5.53% | 89 bp | 19 |
| Jun 2026 | 22 | $911.1M | 95.73 | 5.14% | 66 bp | 45 |
| May 2026 | 23 | $703.5M | 96.56 | 5.10% | 66 bp | 28 |
| Apr 2026 | 30 | $375.8M | 90.13 | 5.18% | 80 bp | 21 |
| Mar 2026 | 23 | $958.2M | 95.66 | 5.07% | 83 bp | 43 |
| Feb 2026 | 21 | $600.6M | 96.53 | 4.72% | 61 bp | 28 |
| Jan 2026 | 29 | $268.6M | 92.08 | 5.01% | 70 bp | 21 |
| Dec 2025 | 21 | $910.7M | 95.61 | 4.97% | 76 bp | 44 |
| Nov 2025 | 22 | $622.8M | 96.64 | 4.81% | 74 bp | 27 |
| Oct 2025 | 29 | $243.6M | 91.22 | 5.00% | 81 bp | 20 |
| Sep 2025 | 20 | $917.2M | 94.35 | 4.92% | 74 bp | 46 |
| Aug 2025 | 22 | $599.7M | 96.09 | 5.05% | 81 bp | 31 |
| Jul 2025 | 29 | $269.6M | 89.12 | 5.25% | 74 bp | 20 |
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. 79 added, 49 cut, 15 new holders and 43 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $196.1M | $169.5M | $8.8M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $153.2M | $133.9M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $117.9M | $111.9M | $15.8M |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $109.6M | $104.0M | $0 |
| Bond Fund of America | 2026-06-30 | $105.3M | $92.5M | $0 |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $73.9M | $67.1M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $64.3M | $56.7M | $4.9M |
| Intermediate Bond Fund of America | 2026-05-31 | $55.9M | $55.7M | $13.0M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $46.2M | $45.5M | $11.9M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $49.7M | $43.7M | $9.0M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $59.3M | $41.6M | $0 |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $59.4M | $41.3M | $0 |
| First Trust Enhanced Short Maturity ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $30.0M | $29.7M | $0 |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $36.9M | $28.6M | $6.4M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $35.9M | $28.5M | $4.3M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $26.9M | $24.8M | $1.1M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $26.6M | $23.7M | $1.4M |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $25.9M | $23.7M | $6.6M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $22.1M | $21.4M | -$400K |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $25.0M | $19.8M | $0 |
| American Funds Global Balanced Fund | 2026-07-31 | $24.2M | $19.1M | $10.0M |
| American Balanced Fund | 2026-06-30 | $20.3M | $18.8M | $0 |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $22.1M | $17.4M | $0 |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $18.4M | $17.0M | $1.1M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $16.4M | $16.4M | $786K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): VANGUARD WELLESLEY INCOME FUND ($14.1M), Total Return Portfolio ($9.8M), College Retirement Equities Fund - Responsible Balanced Account ($9.5M), Transamerica Bond ($7.9M), Transamerica Aegon Bond VP ($6.0M), Transamerica Core Bond ($5.6M), First Trust Core Investment Grade ETF ($5.5M), Transamerica Aegon Core Bond VP ($5.1M), Nomura Corporate Bond Fund ($3.4M), NVIT Loomis Core Bond Fund ($2.7M).
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 |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 20 | $196.1M | $169.5M | 0.04% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $117.9M | $111.9M | 0.16% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 20 | $64.3M | $56.7M | 0.04% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $46.2M | $45.5M | 0.09% |
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 4 | $59.3M | $41.6M | 0.03% |
| FTSM First Trust Enhanced Short Maturity ETF | 2026-07-31 | 2 | $30.0M | $29.7M | 0.46% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 11 | $36.9M | $28.6M | 0.31% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $35.9M | $28.5M | 0.10% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $26.9M | $24.8M | 0.05% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 22 | $26.6M | $23.7M | 0.14% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $22.1M | $21.4M | 0.12% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 3 | $16.4M | $16.4M | 0.02% |
| BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 2026-05-31 | 1 | $16.5M | $16.3M | 0.43% |
| PULS PGIM Ultra Short Bond ETF | 2026-05-29 | 1 | $16.5M | $16.3M | 0.10% |
| IBDR iShares iBonds Dec 2026 Term Corporate ETF | 2026-07-31 | 1 | $16.2M | $16.1M | 0.47% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 10.88: safer than 84% of companies (85th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $76.28B |
| Debt barrier (short-term + ½ long-term debt) | $9.94B |
| Equity volatility (1 year) | 22.5% |
| Asset value / asset volatility (solved) | $85.80B / 20.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 89 bp spread prices in about 1.5% 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'' = 2.18 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CP'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 | 139 | $1.32B | 0 | — | 0 | — | 0 |
| 2026-06-30 | 967 | $53.84B | 15 | $76.1M | 22 | $218.8M | 0 |
| 2026-03-31 | 930 | $42.51B | 17 | $90.5M | 18 | $143.2M | 0 |
| 2025-12-31 | 946 | $43.44B | 16 | $43.3M | 17 | $127.3M | 0 |
| 2025-09-30 | 933 | $45.73B | 18 | $64.9M | 20 | $142.0M | 0 |
| 2025-06-30 | 967 | $51.39B | 17 | $59.7M | 22 | $173.6M | 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.