Dropbox, Inc. bonds DBX
Who owns Dropbox, 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. DBX 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 |
|---|---|---|---|---|---|---|---|---|---|
| 26210CAD6 convertible | 0% none | 2028-03-01 | USD | 109.85 | — | — | 7 | $38.0M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Not enough US-dollar bonds with a yield.
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 | $38.0M | 109.85 | — | — | 7 |
| Jun 2026 | 1 | $24.0M | 101.06 | — | — | 6 |
| May 2026 | 1 | $13.4M | 99.80 | — | — | 6 |
| Apr 2026 | 1 | $24.9M | 96.84 | — | — | 5 |
| Mar 2026 | 1 | $24.1M | 94.94 | — | — | 8 |
| Feb 2026 | 2 | $20.7M | 99.28 | — | — | 7 |
| Jan 2026 | 2 | $85.6M | 99.51 | — | — | 7 |
| Dec 2025 | 2 | $64.8M | 100.13 | — | — | 8 |
| Nov 2025 | 2 | $82.7M | 101.07 | — | — | 8 |
| Oct 2025 | 2 | $83.8M | 100.34 | — | — | 7 |
| Sep 2025 | 2 | $64.9M | 101.04 | — | — | 10 |
| Aug 2025 | 2 | $75.3M | 100.04 | — | — | 7 |
| Jul 2025 | 2 | $81.4M | 98.75 | — | — | 7 |
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. 2 added, 8 cut, 2 new holders and 4 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $13.9M | $15.3M | $2.4M |
| NYLIM VP MacKay Convertible Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $12.1M | $12.2M | $0 |
| NYLIM MacKay Convertible Fund NYLIM FUNDS | 2026-07-31 | $11.0M | $12.1M | $0 |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $11.2M | $11.3M | $2.0M |
| Miller Market Neutral Income Fund Miller Investment Trust | 2026-07-31 | $7.0M | $7.7M | new |
| JPMorgan Strategic Income Opportunities Fund JPMorgan Trust I | 2026-05-31 | $4.9M | $4.9M | -$2.8M |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $4.6M | $4.6M | $0 |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $1.8M | $1.8M | -$215K |
| JPMorgan Global Bond Opportunities Fund JPMorgan Trust I | 2026-05-31 | $1.6M | $1.6M | -$1.8M |
| Calamos Global Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $1.4M | $1.5M | $0 |
| WESTWOOD ALTERNATIVE INCOME FUND Ultimus Managers Trust | 2026-07-31 | $1.0M | $1.1M | $0 |
| JPMorgan Flexible Debt ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $518K | $517K | -$585K |
| JNL Multi-Manager Alternative Fund JNL Series Trust | 2026-06-30 | $208K | $209K | -$2.2M |
| PACE Alternative Strategies Investments PACE SELECT ADVISORS TRUST | 2026-07-31 | $167K | $184K | -$658K |
| Lazard US Convertibles Portfolio LAZARD FUNDS INC | 2026-06-30 | $127K | $129K | $0 |
| Harbor Ares Systematic Convertible Securities Fund HARBOR FUNDS | 2026-07-31 | $100K | $110K | new |
| 1290 VT Convertible Securities Portfolio EQ Advisors Trust | 2026-06-30 | $100K | $101K | $0 |
| Lazard Enhanced Opportunities Portfolio LAZARD FUNDS INC | 2026-06-30 | $96K | $97K | -$439K |
| Franklin Alternative Strategies Fund Franklin Alternative Strategies Funds | 2026-05-29 | $60K | $60K | -$759K |
| Destinations Low Duration Fixed Income Fund Brinker Capital Destinations Trust | 2026-05-31 | $0 | $0 | -$1.2M |
| Defensive Market Strategies Fund GuideStone Funds | 2026-06-30 | $0 | $0 | -$1.0M |
| Opportunistic Fixed Income Trust John Hancock Variable Insurance Trust | 2026-06-30 | $0 | $0 | -$14K |
| Opportunistic Fixed Income Fund John Hancock Funds II | 2026-05-31 | $0 | $0 | -$14K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Destinations Low Duration Fixed Income Fund ($1.2M), Defensive Market Strategies Fund ($1.0M), Opportunistic Fixed Income Trust ($14K), Opportunistic Fixed Income Fund ($14K).
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.
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.48: safer than 53% of companies (52th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $7.81B |
| Debt barrier (short-term + ½ long-term debt) | $1.66B |
| Equity volatility (1 year) | 37.9% |
| Asset value / asset volatility (solved) | $9.41B / 31.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
No US-dollar bond with a yield to compute it from.
Accounts: Altman Z
Altman Z'' = -3.21 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in DBX'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 | 47 | $90.2M | 0 | — | 0 | — | 1 |
| 2026-06-30 | 444 | $4.42B | 13 | $10.3M | 13 | $211.8M | 52 |
| 2026-03-31 | 409 | $3.50B | 13 | $9.7M | 12 | $164.2M | 43 |
| 2025-12-31 | 459 | $5.19B | 16 | $46.9M | 16 | $279.8M | 71 |
| 2025-09-30 | 458 | $5.65B | 20 | $74.0M | 17 | $307.3M | 69 |
| 2025-06-30 | 452 | $5.73B | 21 | $111.6M | 21 | $254.6M | 72 |
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.