Salesforce, Inc. bonds CRM
Who owns Salesforce, 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. CRM 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 |
|---|---|---|---|---|---|---|---|---|---|
| 79466LAQ7 | 4.5% fixed | 2028-03-15 | USD | 99.81 | 4.62% | 47 bp | 41 | $330.8M | Jul 2026 |
| 79466LAF1 | 3.7% fixed | 2028-04-11 | USD | 98.63 | 4.54% | 38 bp | 9 | $16.5M | Jul 2026 |
| 79466LAH7 | 1.5% fixed | 2028-07-15 | USD | 94.31 | 4.57% | 36 bp | 14 | $18.2M | Jul 2026 |
| 79466LAR5 | 4.65% fixed | 2029-03-15 | USD | 99.57 | 4.82% | 58 bp | 39 | $290.9M | Jul 2026 |
| 79466LAJ3 | 1.95% fixed | 2031-07-15 | USD | 86.22 | 5.13% | 81 bp | 12 | $19.6M | Jul 2026 |
| 79466LAS3 | 4.9% fixed | 2031-09-15 | USD | 98.53 | 5.23% | 89 bp | 30 | $104.5M | Jul 2026 |
| 79466LAT1 | 5.2% fixed | 2033-03-15 | USD | 98.62 | 5.45% | 102 bp | 29 | $195.1M | Jul 2026 |
| 79466LAU8 | 5.55% fixed | 2036-03-15 | USD | 97.51 | 5.89% | 131 bp | 63 | $186.3M | Jul 2026 |
| 79466LAK0 | 2.7% fixed | 2041-07-15 | USD | 65.54 | 6.29% | 144 bp | 15 | $23.0M | Jul 2026 |
| 79466LAV6 | 6.4% fixed | 2046-03-15 | USD | 96.25 | 6.75% | 166 bp | 20 | $42.0M | Jul 2026 |
| 79466LAL8 | 2.9% fixed | 2051-07-15 | USD | 54.87 | 6.62% | 151 bp | 12 | $6.4M | Jul 2026 |
| 79466LAW4 | 6.55% fixed | 2056-03-15 | USD | 95.51 | 6.91% | 181 bp | 27 | $69.1M | Jul 2026 |
| 79466LAM6 | 3.05% fixed | 2061-07-15 | USD | 52.25 | 6.54% | 144 bp | 5 | $2.1M | Jul 2026 |
| 79466LAX2 | 6.7% fixed | 2066-03-15 | USD | 95.75 | 7.02% | 192 bp | 9 | $18.5M | 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 | 14 | $1.32B | 96.00 | 5.34% | 95 bp | 63 |
| Jun 2026 | 14 | $3.80B | 99.83 | 5.06% | 79 bp | 115 |
| May 2026 | 14 | $1.91B | 100.10 | 4.99% | 76 bp | 46 |
| Apr 2026 | 14 | $1.64B | 99.53 | 5.09% | 105 bp | 67 |
| Mar 2026 | 14 | $3.97B | 99.77 | 5.08% | 112 bp | 125 |
| Feb 2026 | 6 | $307.5M | 79.99 | 4.28% | 56 bp | 23 |
| Jan 2026 | 6 | $79.7M | 80.29 | 4.25% | 42 bp | 14 |
| Dec 2025 | 6 | $289.6M | 80.72 | 4.20% | 44 bp | 32 |
| Nov 2025 | 6 | $357.8M | 81.40 | 4.08% | 36 bp | 22 |
| Oct 2025 | 6 | $74.4M | 81.10 | 4.17% | 46 bp | 13 |
| Sep 2025 | 6 | $303.2M | 81.18 | 4.14% | 40 bp | 35 |
| Aug 2025 | 6 | $329.2M | 80.22 | 4.17% | 28 bp | 23 |
| Jul 2025 | 6 | $99.8M | 79.42 | 4.39% | 34 bp | 14 |
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. 112 added, 110 cut, 95 new holders and 101 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Dodge & Cox Income Fund Dodge & Cox Funds | 2026-06-30 | $795.9M | $798.8M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $367.4M | $363.4M | $321.6M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $387.5M | $361.6M | $132.4M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $369.1M | $336.2M | $75.8M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $200.0M | $199.4M | -$100.0M |
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $190.0M | $189.9M | $0 |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $175.0M | $172.2M | -$25.0M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $171.6M | $158.1M | $128.1M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $158.3M | $156.7M | $89.9M |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $131.0M | $131.3M | -$7.0M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $135.2M | $126.3M | $93.9M |
| PGIM Ultra Short Bond ETF PGIM ETF Trust | 2026-05-29 | $104.0M | $104.2M | new |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $97.8M | $96.0M | $35.5M |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $85.6M | $85.6M | $0 |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $83.2M | $83.2M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $83.8M | $82.9M | $73.3M |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $79.0M | $78.7M | $22.8M |
| BBH Limited Duration Fund BBH Trust | 2026-07-31 | $78.1M | $77.8M | $0 |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $69.8M | $69.3M | $19.4M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $68.7M | $68.6M | $0 |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $66.5M | $65.5M | $59.3M |
| AST Multi-Sector Fixed Income Portfolio Advanced Series Trust | 2026-06-30 | $63.2M | $63.5M | -$2.5M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $61.0M | $60.3M | $25.0M |
| MFS Income Fund MFS Series Trust VIII | 2026-07-31 | $61.4M | $59.8M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $57.5M | $57.1M | $42.6M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Janus Henderson Balanced Fund ($106.8M), Thornburg Strategic Income Fund ($45.2M), Janus Henderson Balanced Portfolio ($35.1M), VANGUARD STAR CORE-PLUS BOND FUND ($34.2M), Janus Henderson Flexible Bond Fund ($29.9M), THE HARTFORD BALANCED INCOME FUND ($28.3M), Thornburg Limited Term Income Fund ($24.3M), ALPS | Smith Total Return Bond Fund ($20.4M), JNL/WMC Balanced Fund ($15.6M), Diversified Bond Fund ($13.9M).
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 |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $367.4M | $363.4M | 0.53% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 13 | $369.1M | $336.2M | 0.08% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 10 | $171.6M | $158.1M | 0.53% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 5 | $158.3M | $156.7M | 0.31% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 14 | $135.2M | $126.3M | 0.09% |
| PULS PGIM Ultra Short Bond ETF | 2026-05-29 | 2 | $104.0M | $104.2M | 0.64% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 4 | $97.8M | $96.0M | 0.18% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $83.8M | $82.9M | 0.46% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 4 | $79.0M | $78.7M | 0.74% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 8 | $69.8M | $69.3M | 0.60% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 4 | $66.5M | $65.5M | 0.56% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 5 | $61.0M | $60.3M | 0.09% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $57.5M | $57.1M | 0.26% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 14 | $57.7M | $54.5M | 0.31% |
| ICSH iShares Ultra Short Duration Bond Active ETF | 2026-07-31 | 1 | $53.4M | $53.2M | 0.65% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.54: safer than 54% of companies (52th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-07-31.
| Equity value | $199.81B |
| Debt barrier (short-term + ½ long-term debt) | $19.64B |
| Equity volatility (1 year) | 46.6% |
| Asset value / asset volatility (solved) | $218.63B / 42.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 95 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'' = 1.90 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CRM'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 | 448 | $2.33B | 7 | $5.6M | 5 | $6.0M | 0 |
| 2026-06-30 | 2,452 | $106.35B | 79 | $7.03B | 99 | $7.88B | 1 |
| 2026-03-31 | 2,648 | $116.95B | 71 | $7.53B | 90 | $8.10B | 1 |
| 2025-12-31 | 2,908 | $194.74B | 69 | $5.94B | 75 | $6.84B | 0 |
| 2025-09-30 | 2,769 | $176.17B | 72 | $5.45B | 78 | $6.44B | 2 |
| 2025-06-30 | 2,910 | $204.33B | 71 | $5.14B | 76 | $5.73B | 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.