Etsy, Inc. bonds ETSY
Who owns Etsy, 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. ETSY 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 |
|---|---|---|---|---|---|---|---|---|---|
| 29786AAJ5 convertible | 0.125% fixed | 2026-10-01 | USD | 102.26 | — | — | 3 | $59.5M | Jul 2026 |
| 29786AAL0 convertible | 0.125% fixed | 2027-09-01 | USD | 95.15 | — | — | 6 | $31.6M | Jul 2026 |
| 29786AAN6 convertible | 0.25% fixed | 2028-06-15 | USD | 91.69 | — | — | 8 | $83.4M | Jul 2026 |
| 29786AAP1 convertible | 1% fixed | 2030-06-15 | USD | 109.65 | — | — | 4 | $6.8M | May 2026 |
| 29786AAQ9 convertible | 1% fixed | 2030-06-15 | USD | 121.94 | — | — | 19 | $149.6M | 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 | 4 | $324.1M | 98.70 | — | — | 19 |
| Jun 2026 | 4 | $125.6M | 98.26 | — | — | 28 |
| May 2026 | 4 | $16.9M | 97.31 | — | — | 4 |
| Apr 2026 | 4 | $238.4M | 97.38 | — | — | 16 |
| Mar 2026 | 4 | $97.2M | 94.92 | — | — | 13 |
| Feb 2026 | 4 | $17.3M | 96.36 | — | — | 5 |
| Jan 2026 | 4 | $221.9M | 96.67 | — | — | 14 |
| Dec 2025 | 4 | $90.6M | 96.93 | — | — | 12 |
| Nov 2025 | 4 | $17.8M | 95.85 | — | — | 5 |
| Oct 2025 | 4 | $233.5M | 97.49 | — | — | 14 |
| Sep 2025 | 4 | $131.4M | 98.08 | — | — | 12 |
| Aug 2025 | 4 | $24.9M | 94.35 | — | — | 4 |
| Jul 2025 | 4 | $239.2M | 94.78 | — | — | 16 |
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. 19 added, 9 cut, 19 new holders and 3 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $85.0M | $84.7M | $0 |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $60.7M | $61.8M | $9.4M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $44.4M | $44.3M | $5.4M |
| NYLIM MacKay Convertible Fund NYLIM FUNDS | 2026-07-31 | $27.8M | $28.4M | $12.2M |
| CALAMOS STRATEGIC TOTAL RETURN FUND | 2026-07-31 | $20.3M | $24.7M | $9.3M |
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $16.7M | $19.4M | $4.3M |
| Calamos Growth & Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $15.2M | $18.6M | $6.6M |
| NYLIM VP MacKay Convertible Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $18.1M | $18.5M | $5.3M |
| Franklin Convertible Securities Fund Franklin Investors Securities Trust | 2026-07-31 | $18.5M | $17.6M | $0 |
| CALAMOS CONVERTIBLE & HIGH INCOME FUND | 2026-07-31 | $10.5M | $12.8M | $6.0M |
| CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND | 2026-07-31 | $10.0M | $12.2M | $5.8M |
| Calamos Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $10.0M | $12.2M | $6.0M |
| Calamos Dynamic Convertible & Income Fund | 2026-07-31 | $8.2M | $10.1M | $4.8M |
| AQR Diversified Arbitrage Fund AQR Funds | 2026-06-30 | $8.6M | $10.0M | $0 |
| Rational/Pier 88 Convertible Securities Fund Mutual Fund & Variable Insurance Trust | 2026-06-30 | $10.4M | $9.5M | $0 |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $8.7M | $9.1M | $0 |
| Fidelity SAI Convertible Arbitrage Fund Fidelity Greenwood Street Trust | 2026-07-31 | $9.0M | $8.2M | $0 |
| Miller Market Neutral Income Fund Miller Investment Trust | 2026-07-31 | $6.0M | $7.3M | $2.0M |
| EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND Eubel Brady & Suttman Mutual Fund Trust | 2026-07-31 | $7.0M | $7.3M | $0 |
| The Osterweis Strategic Income Fund Professionally Managed Portfolios | 2026-06-30 | $7.8M | $7.1M | $0 |
| Putnam Convertible Securities Fund | 2026-07-31 | $4.4M | $5.4M | $0 |
| Shenkman Capital Short Duration High Income Fund Advisors Series Trust | 2026-06-30 | $5.0M | $4.6M | -$114K |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $3.0M | $3.5M | new |
| Global Opportunities Portfolio | 2026-07-31 | $3.8M | $3.4M | $0 |
| JPMorgan Strategic Income Opportunities Fund JPMorgan Trust I | 2026-05-31 | $3.6M | $3.4M | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): JPMorgan Global Bond Opportunities Fund ($3.1M), Defensive Market Strategies Fund ($1.1M), JPMorgan Flexible Debt ETF ($640K).
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 |
|---|---|---|---|---|---|
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 4 | $60.7M | $61.8M | 0.86% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 4 | $44.4M | $44.3M | 0.72% |
| ACVT Advent Convertible Bond ETF | 2026-05-31 | 1 | $665K | $629K | 1.95% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $325K | $396K | 0.39% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 1 | $230K | $210K | 0.02% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.93: safer than 36% of companies (35th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $7.82B |
| Debt barrier (short-term + ½ long-term debt) | $1.82B |
| Equity volatility (1 year) | 50.4% |
| Asset value / asset volatility (solved) | $9.56B / 41.2% |
| 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'' = -1.15 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ETSY'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 | 51 | $75.7M | 0 | — | 0 | — | 4 |
| 2026-06-30 | 546 | $7.84B | 30 | $356.5M | 27 | $730.8M | 103 |
| 2026-03-31 | 472 | $4.56B | 29 | $333.8M | 28 | $540.2M | 77 |
| 2025-12-31 | 511 | $5.93B | 33 | $461.5M | 31 | $770.4M | 79 |
| 2025-09-30 | 539 | $7.61B | 40 | $829.1M | 43 | $1.43B | 85 |
| 2025-06-30 | 512 | $6.37B | 36 | $428.7M | 34 | $865.2M | 81 |
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.