Elanco Animal Health Incorporated bonds ELAN
Who owns Elanco Animal Health Incorporated'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. ELAN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 28414HAG8 | 6.65% fixed | 2028-08-28 | USD | 102.13 | 5.55% | 132 bp | 20 | $41.9M | 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 | $41.9M | 102.13 | 5.55% | 132 bp | 20 |
| Jun 2026 | 1 | $200.8M | 102.64 | 5.34% | 122 bp | 25 |
| May 2026 | 1 | $63.0M | 102.64 | 5.38% | 137 bp | 25 |
| Apr 2026 | 1 | $35.7M | 102.37 | 5.55% | 174 bp | 20 |
| Mar 2026 | 1 | $197.4M | 102.25 | 5.64% | 192 bp | 21 |
| Feb 2026 | 1 | $62.0M | 103.99 | 4.94% | 144 bp | 27 |
| Jan 2026 | 1 | $37.7M | 104.16 | 4.91% | 133 bp | 20 |
| Dec 2025 | 1 | $197.9M | 104.51 | 4.82% | 129 bp | 23 |
| Nov 2025 | 1 | $62.7M | 104.84 | 4.74% | 119 bp | 26 |
| Oct 2025 | 1 | $36.3M | 104.22 | 5.02% | 150 bp | 18 |
| Sep 2025 | 1 | $197.2M | 104.00 | 5.15% | 160 bp | 24 |
| Aug 2025 | 1 | $63.1M | 104.14 | 5.14% | 147 bp | 26 |
| Jul 2025 | 1 | $34.5M | 103.47 | 5.41% | 157 bp | 17 |
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. 14 added, 8 cut, 4 new holders and 3 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 | $124.0M | $127.2M | $0 |
| Dodge & Cox Global Bond Fund Dodge & Cox Funds | 2026-06-30 | $29.9M | $30.7M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $14.6M | $14.9M | $826K |
| Dodge & Cox Balanced Fund Dodge & Cox Funds | 2026-06-30 | $13.0M | $13.3M | $0 |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $8.5M | $8.8M | $0 |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $7.9M | $8.1M | -$291K |
| Fidelity Series Investment Grade Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $7.3M | $7.5M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $6.9M | $7.1M | -$25K |
| JPMorgan Income Fund JPMorgan Trust I | 2026-05-31 | $6.8M | $7.0M | $185K |
| Fidelity Investment Grade Bond Central Fund Fidelity Central Investment Portfolios II LLC | 2026-06-30 | $6.4M | $6.5M | $0 |
| AB HIGH INCOME FUND INC | 2026-07-31 | $5.9M | $6.1M | $0 |
| American Funds Strategic Bond Fund | 2026-06-30 | $5.0M | $5.1M | new |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.9M | $5.0M | -$1.6M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $4.8M | $4.9M | new |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.5M | $4.7M | -$1.0M |
| Fidelity Corporate Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $4.3M | $4.4M | $0 |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $4.3M | $4.4M | $0 |
| Invesco BulletShares 2028 High Yield Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $4.0M | $4.1M | $660K |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $3.0M | $3.1M | $0 |
| Fidelity SAI Total Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $2.4M | $2.5M | $0 |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $2.3M | $2.3M | -$405K |
| iShares iBonds 2028 Term High Yield and Income ETF iShares Trust | 2026-07-31 | $2.3M | $2.3M | $203K |
| Xtrackers USD High Yield BB-B ex Financials ETF DBX ETF Trust | 2026-05-31 | $1.8M | $1.8M | $354K |
| Strategic Advisers Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $1.7M | $1.7M | $0 |
| JPMorgan Income Builder Fund JPMorgan Trust I | 2026-07-31 | $1.5M | $1.6M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): GMO High Yield Fund ($445K), State Street(R) My2028 High Yield Corporate Bond ETF ($40K), AB Short Duration Income ETF ($4K).
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 | $14.6M | $14.9M | 0.05% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $7.9M | $8.1M | 0.50% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $6.9M | $7.1M | 0.09% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $4.9M | $5.0M | 0.10% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $4.5M | $4.7M | 0.04% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $4.0M | $4.1M | 0.59% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $2.3M | $2.3M | 0.50% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $1.8M | $1.8M | 0.08% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.4M | $1.4M | 0.06% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 1 | $1.3M | $1.4M | 0.06% |
| SYSB iShares Systematic Bond ETF | 2026-07-31 | 1 | $984K | $1.0M | 0.09% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $832K | $851K | 0.00% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $474K | $485K | 0.09% |
| GTOQ Invesco High Yield Systematic Bond ETF | 2026-07-31 | 1 | $460K | $470K | 0.26% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 1 | $445K | $457K | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.26: safer than 51% of companies (48th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $11.79B |
| Debt barrier (short-term + ½ long-term debt) | $2.00B |
| Equity volatility (1 year) | 42.1% |
| Asset value / asset volatility (solved) | $13.70B / 36.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 132 bp spread prices in about 2.2% 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 = 1.36 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ELAN'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 | 60 | $205.9M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 509 | $13.16B | 7 | $6.0M | 9 | $10.7M | 0 |
| 2026-03-31 | 498 | $10.71B | 9 | $15.0M | 9 | $19.3M | 0 |
| 2025-12-31 | 471 | $11.17B | 13 | $56.8M | 12 | $29.5M | 0 |
| 2025-09-30 | 398 | $10.82B | 12 | $23.3M | 10 | $20.9M | 0 |
| 2025-06-30 | 356 | $7.38B | 12 | $21.5M | 13 | $16.3M | 0 |
Officials trading ELAN bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2022-04-13 | Alan S. Lowenthal | sale | Elanco Animal Health Inc | $1,001 - $15,000 | filing |
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.