Five Point Holdings, LLC bonds FPH
Who owns Five Point Holdings, LLC'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. FPH 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 |
|---|---|---|---|---|---|---|---|---|---|
| 33834YAC2 | 8% fixed | 2030-10-01 | USD | 102.50 | 7.29% | 299 bp | 33 | $64.3M | 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 | $64.3M | 102.50 | 7.29% | 299 bp | 33 |
| Jun 2026 | 1 | $87.9M | 102.40 | 7.33% | 314 bp | 69 |
| May 2026 | 1 | $44.9M | 102.59 | 7.29% | 318 bp | 25 |
| Apr 2026 | 1 | $56.1M | 102.57 | 7.31% | 340 bp | 34 |
| Mar 2026 | 1 | $79.6M | 99.79 | 8.06% | 424 bp | 68 |
| Feb 2026 | 1 | $43.2M | 103.53 | 7.08% | 344 bp | 25 |
| Jan 2026 | 1 | $48.6M | 103.97 | 6.98% | 323 bp | 35 |
| Dec 2025 | 1 | $87.5M | 104.53 | 6.86% | 318 bp | 68 |
| Nov 2025 | 1 | $32.3M | 104.47 | 6.89% | 323 bp | 25 |
| Oct 2025 | 2 | $39.0M | 101.15 | 7.43% | 379 bp | 33 |
| Sep 2025 | 2 | $123.6M | 101.31 | 7.63% | 397 bp | 65 |
| Aug 2025 | 1 | $76.6M | 100.88 | — | — | 17 |
| Jul 2025 | 2 | $22.4M | 101.72 | — | — | 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. 23 added, 12 cut, 4 new holders and 5 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 | $30.7M | $31.4M | $6.0M |
| High Yield Bond Series Manning & Napier Fund, Inc. | 2026-06-30 | $21.4M | $21.9M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $13.6M | $13.9M | $0 |
| JNL/PPM America High Yield Bond Fund JNL Series Trust | 2026-06-30 | $10.9M | $11.2M | $4.5M |
| Intrepid Income Fund Intrepid Capital Management Funds Trust | 2026-06-30 | $9.9M | $10.2M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $9.3M | $9.5M | $1.4M |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $7.7M | $7.9M | $1.0M |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $6.6M | $6.8M | $881K |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $6.1M | $6.2M | $0 |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $5.1M | $5.2M | -$59K |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $4.1M | $4.2M | $205K |
| Buffalo High Yield Fund Buffalo Funds | 2026-06-30 | $4.0M | $4.1M | $0 |
| Unconstrained Bond Series Manning & Napier Fund, Inc. | 2026-06-30 | $4.0M | $4.1M | $0 |
| Brookfield Real Assets Income Fund Inc. | 2026-06-30 | $3.3M | $3.4M | $0 |
| FlexShares High Yield Value - Scored Bond Index Fund FlexShares Trust | 2026-07-31 | $3.0M | $3.0M | -$20K |
| AB HIGH INCOME FUND INC | 2026-07-31 | $2.7M | $2.8M | $0 |
| Western Asset Short Duration High Income Fund Legg Mason Partners Income Trust | 2026-07-31 | $2.6M | $2.6M | $0 |
| Western Asset Management Strategic Bond Opportunities Portfolio Brighthouse Funds Trust II | 2026-06-30 | $2.5M | $2.6M | $0 |
| Western Asset Diversified Income Fund | 2026-06-30 | $2.2M | $2.2M | $0 |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $2.0M | $2.1M | $120K |
| Impax High Yield Bond Fund IMPAX FUNDS SERIES TRUST I | 2026-06-30 | $2.0M | $2.1M | -$964K |
| Western Asset High Income Opportunity Fund Inc. | 2026-06-30 | $1.8M | $1.9M | $0 |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $1.8M | $1.8M | new |
| FS Multi-Strategy Alternatives Fund ADVISORS' INNER CIRCLE III | 2026-06-30 | $1.7M | $1.8M | $0 |
| Western Asset High Income Fund II Inc. | 2026-07-31 | $1.6M | $1.6M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Destinations Global Fixed Income Opportunities Fund ($1.2M), BlackRock Multi-Sector Income Trust ($345K), BlackRock Low Duration Bond Portfolio ($88K), BlackRock Core Bond Trust ($50K), iShares Short Duration Bond Active ETF ($43K).
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 | $9.3M | $9.5M | 0.03% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $5.1M | $5.2M | 0.32% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $4.1M | $4.2M | 0.06% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $3.0M | $3.0M | 0.28% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $1.1M | $1.2M | 0.07% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 1 | $1.1M | $1.1M | 0.21% |
| SYFI AB Short Duration High Yield ETF | 2026-05-31 | 1 | $977K | $1.0M | 0.11% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $954K | $978K | 0.04% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $889K | $910K | 0.01% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 1 | $870K | $893K | 0.07% |
| SYSB iShares Systematic Bond ETF | 2026-07-31 | 1 | $670K | $687K | 0.06% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $568K | $583K | 0.02% |
| SIHY Harbor Ares Systematic High Yield ETF | 2026-07-31 | 1 | $500K | $513K | 0.34% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 1 | $500K | $512K | 0.01% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $451K | $462K | 0.00% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.68: safer than 45% of companies (55th percentile in Real Estate). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $307.6M |
| Debt barrier (short-term + ½ long-term debt) | $444.0M |
| Equity volatility (1 year) | 27.4% |
| Asset value / asset volatility (solved) | $733.0M / 11.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 299 bp spread prices in about 5.0% 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'' = 6.11 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in FPH'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 | 5 | $14.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 87 | $196.6M | 2 | $708K | 2 | $2.0M | 0 |
| 2026-03-31 | 84 | $180.1M | 3 | $646K | 1 | $605K | 0 |
| 2025-12-31 | 83 | $210.2M | 3 | $740K | 1 | $293K | 0 |
| 2025-09-30 | 77 | $233.7M | 3 | $159K | 3 | $578K | 0 |
| 2025-06-30 | 76 | $213.7M | 4 | $298K | 4 | $672K | 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.