Emergent BioSolutions Inc. bonds EBS
Who owns Emergent BioSolutions 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. EBS 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 |
|---|---|---|---|---|---|---|---|---|---|
| 29089QAC9 | 3.875% fixed | 2028-08-15 | USD | 91.92 | 8.26% | 404 bp | 19 | $63.5M | 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 | 1 | $63.5M | 91.92 | 8.26% | 404 bp | 19 |
| Jun 2026 | 1 | $19.9M | 92.72 | 7.65% | 353 bp | 29 |
| May 2026 | 1 | $42.4M | 90.91 | 8.47% | 446 bp | 27 |
| Apr 2026 | 1 | $57.8M | 89.04 | 9.28% | 548 bp | 21 |
| Mar 2026 | 1 | $19.0M | 84.52 | 11.49% | 777 bp | 28 |
| Feb 2026 | 1 | $33.8M | 87.46 | 9.72% | 622 bp | 23 |
| Jan 2026 | 1 | $53.8M | 89.41 | 8.60% | 503 bp | 21 |
| Dec 2025 | 1 | $18.6M | 89.71 | 8.32% | 478 bp | 25 |
| Nov 2025 | 1 | $31.1M | 89.28 | 8.38% | 482 bp | 20 |
| Oct 2025 | 1 | $47.6M | 88.54 | 8.57% | 505 bp | 18 |
| Sep 2025 | 1 | $16.1M | 83.02 | 10.91% | 736 bp | 19 |
| Aug 2025 | 1 | $18.2M | 83.75 | 10.40% | 673 bp | 21 |
| Jul 2025 | 1 | $35.5M | 76.92 | 13.36% | 951 bp | 18 |
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. 30 added, 12 cut, 5 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $16.2M | $14.9M | $0 |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $10.7M | $9.8M | $1.9M |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $10.1M | $9.3M | $2.4M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $9.2M | $8.4M | $1.1M |
| AB HIGH INCOME FUND INC | 2026-07-31 | $7.8M | $7.2M | $0 |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $7.4M | $6.8M | $3.6M |
| Virtus Seix Floating Rate High Income Fund Virtus Asset Trust | 2026-06-30 | $5.5M | $5.1M | $0 |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $5.3M | $4.8M | -$731K |
| Fidelity Total Bond ETF Fidelity Merrimack Street Trust | 2026-05-31 | $4.6M | $4.2M | $2.3M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $4.2M | $3.9M | -$25K |
| Fidelity Enhanced High Yield ETF Fidelity Covington Trust | 2026-05-31 | $4.0M | $3.7M | $2.3M |
| Fidelity SAI Total Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $3.9M | $3.5M | $1.8M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $3.4M | $3.1M | $30K |
| Fidelity Series High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $2.7M | $2.5M | $530K |
| Invesco BulletShares 2028 High Yield Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $2.4M | $2.2M | $400K |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $2.3M | $2.1M | -$4.7M |
| Virtus Seix High Yield Fund Virtus Asset Trust | 2026-06-30 | $2.0M | $1.9M | $0 |
| Virtus Seix Senior Loan ETF Virtus ETF Trust II | 2026-07-31 | $2.0M | $1.8M | $0 |
| Nuveen High Yield Fund TIAA-CREF Funds | 2026-06-30 | $1.8M | $1.7M | $0 |
| Fidelity High Income Central Fund Fidelity Central Investment Portfolios LLC | 2026-05-31 | $1.7M | $1.6M | $235K |
| AllianceBernstein Global High Income Fund Inc | 2026-06-30 | $1.5M | $1.4M | $0 |
| Nuveen High Yield Income Fund Nuveen Investment Trust III | 2026-05-31 | $1.5M | $1.4M | $0 |
| VIP High Income Portfolio Variable Insurance Products Fund | 2026-06-30 | $1.4M | $1.3M | $830K |
| iShares iBonds 2028 Term High Yield and Income ETF iShares Trust | 2026-07-31 | $1.3M | $1.2M | $103K |
| Fidelity Total Bond K6 Fund Fidelity Income Fund | 2026-05-31 | $1.3M | $1.2M | $639K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): State Street(R) SPDR(R) Portfolio High Yield Bond ETF ($1.0M), Harbor Ares Systematic High Yield ETF ($200K).
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 | 1 | $9.2M | $8.4M | 0.03% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $5.3M | $4.8M | 0.29% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 1 | $4.6M | $4.2M | 0.02% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $4.2M | $3.9M | 0.05% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 1 | $4.0M | $3.7M | 0.70% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $2.4M | $2.2M | 0.32% |
| SEIX Virtus Seix Senior Loan ETF | 2026-07-31 | 1 | $2.0M | $1.8M | 0.73% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $1.3M | $1.2M | 0.27% |
| XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $1.1M | $1.0M | 0.40% |
| SYFI AB Short Duration High Yield ETF | 2026-05-31 | 1 | $1.0M | $932K | 0.10% |
| HYBL State Street(R) Blackstone High Income ETF | 2026-06-30 | 1 | $956K | $886K | 0.16% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $926K | $843K | 0.03% |
| HYFI AB High Yield ETF | 2026-05-31 | 1 | $747K | $676K | 0.20% |
| SYSB iShares Systematic Bond ETF | 2026-07-31 | 1 | $701K | $643K | 0.06% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $470K | $434K | 0.00% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.47: safer than 10% of companies (12th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $330.5M |
| Debt barrier (short-term + ½ long-term debt) | $290.9M |
| Equity volatility (1 year) | 81.4% |
| Asset value / asset volatility (solved) | $605.8M / 45.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 404 bp spread prices in about 6.7% 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 = 0.83 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in EBS'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 | 15 | $1.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 188 | $338.6M | 4 | $1.4M | 6 | $5.5M | 0 |
| 2026-03-31 | 179 | $311.0M | 5 | $1.1M | 6 | $3.9M | 0 |
| 2025-12-31 | 175 | $516.6M | 6 | $2.3M | 7 | $7.8M | 0 |
| 2025-09-30 | 165 | $338.8M | 6 | $2.3M | 8 | $7.8M | 0 |
| 2025-06-30 | 158 | $237.8M | 8 | $1.1M | 9 | $2.4M | 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.