Dream Finders Homes, Inc. bonds DFH
Who owns Dream Finders Homes, 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. DFH 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 |
|---|---|---|---|---|---|---|---|---|---|
| 26154DAA8 | 8.25% fixed | 2028-08-15 | USD | 102.02 | 7.17% | 295 bp | 15 | $35.6M | Jul 2026 |
| 26154DAB6 | 6.875% fixed | 2030-09-15 | USD | 97.66 | 7.54% | 324 bp | 29 | $62.1M | 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 | 2 | $97.7M | 99.84 | 7.36% | 310 bp | 29 |
| Jun 2026 | 2 | $123.2M | 100.81 | 7.06% | 291 bp | 31 |
| May 2026 | 2 | $43.4M | 100.56 | 7.12% | 306 bp | 20 |
| Apr 2026 | 2 | $108.4M | 100.31 | 7.21% | 336 bp | 29 |
| Mar 2026 | 2 | $123.9M | 98.73 | 7.74% | 398 bp | 32 |
| Feb 2026 | 2 | $40.5M | 102.82 | 6.52% | 295 bp | 21 |
| Jan 2026 | 2 | $102.7M | 102.15 | 6.74% | 308 bp | 33 |
| Dec 2025 | 2 | $117.3M | 101.90 | 6.81% | 320 bp | 37 |
| Nov 2025 | 2 | $38.2M | 101.67 | 6.93% | 333 bp | 21 |
| Oct 2025 | 2 | $94.0M | 101.37 | 6.97% | 339 bp | 31 |
| Sep 2025 | 2 | $114.1M | 102.24 | 6.74% | 313 bp | 37 |
| Aug 2025 | 1 | $6.7M | 103.90 | 6.77% | 310 bp | 7 |
| Jul 2025 | 1 | $27.1M | 103.51 | 6.95% | 311 bp | 12 |
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. 27 added, 15 cut, 5 new holders and 5 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| BrandywineGLOBAL - HIGH YIELD FUND Legg Mason Partners Investment Trust | 2026-06-30 | $39.8M | $40.5M | -$2.5M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $33.3M | $33.0M | $0 |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $26.7M | $27.1M | -$2.7M |
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $15.1M | $15.2M | -$9.8M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $12.9M | $12.9M | $1.2M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $10.4M | $10.2M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $6.9M | $7.1M | $0 |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $6.4M | $6.4M | -$2.1M |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $6.2M | $6.3M | new |
| Franklin High Income Fund Franklin High Income Trust | 2026-06-30 | $6.0M | $6.1M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $5.6M | $5.5M | $0 |
| First Trust Tactical High Yield ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $5.0M | $4.9M | $0 |
| Global Opportunities Portfolio | 2026-07-31 | $4.5M | $4.3M | -$1.9M |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $4.2M | $4.2M | $248K |
| Virtus Seix High Yield Fund Virtus Asset Trust | 2026-06-30 | $3.7M | $3.8M | $668K |
| Western Asset Short Duration High Income Fund Legg Mason Partners Income Trust | 2026-07-31 | $3.3M | $3.3M | $0 |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $3.4M | $3.3M | $0 |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $3.0M | $2.9M | $135K |
| Western Asset Management Strategic Bond Opportunities Portfolio Brighthouse Funds Trust II | 2026-06-30 | $2.9M | $2.8M | $0 |
| Venerable High Yield Fund Venerable Variable Insurance Trust | 2026-06-30 | $2.7M | $2.8M | $0 |
| BrandywineGLOBAL-Global Income Opportunities Fund Inc | 2026-07-31 | $2.8M | $2.7M | $0 |
| Timothy Plan High Yield Bond Fund TIMOTHY PLAN | 2026-06-30 | $2.7M | $2.7M | $2.0M |
| High Yield Fixed Income Fund Northern Funds | 2026-06-30 | $2.5M | $2.4M | $0 |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $2.4M | $2.4M | $165K |
| PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $2.4M | $2.4M | -$193K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Fidelity Enhanced High Yield ETF ($620K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($266K), Voya Multi-Sector Income ETF ($150K), PD High Yield Bond Market Portfolio ($113K), BNY Mellon High Yield ETF ($74K).
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 | 2 | $12.9M | $12.9M | 0.05% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 1 | $5.0M | $4.9M | 0.30% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $2.4M | $2.4M | 0.14% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $1.6M | $1.7M | 0.24% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 1 | $1.6M | $1.6M | 0.01% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 1 | $1.6M | $1.5M | 0.13% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $1.4M | $1.4M | 0.01% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $1.3M | $1.2M | 0.11% |
| GTOQ Invesco High Yield Systematic Bond ETF | 2026-07-31 | 2 | $1.2M | $1.2M | 0.64% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $1.0M | $1.1M | 0.04% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $1.0M | $1.0M | 0.04% |
| FLHY Franklin High Yield Corporate ETF | 2026-06-30 | 1 | $1.0M | $1.0M | 0.09% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $875K | $892K | 0.20% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $735K | $734K | 0.00% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 2 | $403K | $402K | 0.08% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 2.10: safer than 15% of companies (14th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $783.1M |
| Debt barrier (short-term + ½ long-term debt) | $592.3M |
| Equity volatility (1 year) | 64.7% |
| Asset value / asset volatility (solved) | $1.35B / 37.8% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 310 bp spread prices in about 5.2% 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'' = 4.73 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in DFH'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 | 16 | $1.8M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 199 | $534.3M | 5 | $892K | 3 | $330K | 0 |
| 2026-03-31 | 178 | $370.2M | 5 | $615K | 3 | $457K | 0 |
| 2025-12-31 | 184 | $488.8M | 3 | $311K | 5 | $1.4M | 0 |
| 2025-09-30 | 187 | $787.2M | 5 | $1.3M | 5 | $2.7M | 0 |
| 2025-06-30 | 193 | $777.1M | 6 | $5.3M | 6 | $3.5M | 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.