Herbalife Nutrition Ltd. bonds HLF
Who owns Herbalife Nutrition Ltd.'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. HLF 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 |
|---|---|---|---|---|---|---|---|---|---|
| 42703MAF0 convertible | 4.25% fixed | 2028-06-15 | USD | 112.81 | — | — | 6 | $8.7M | Jul 2026 |
| 40390DAC9 | 4.875% fixed | 2029-06-01 | USD | 93.04 | 7.65% | 339 bp | 29 | $86.7M | Jul 2026 |
| 40390DAE5 | 7.75% fixed | 2033-05-01 | USD | 100.64 | 7.62% | 318 bp | 33 | $55.7M | 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 | 3 | $151.1M | 100.64 | 7.64% | 329 bp | 33 |
| Jun 2026 | 3 | $171.4M | 101.36 | 7.41% | 318 bp | 46 |
| May 2026 | 3 | $99.6M | 101.02 | 7.36% | 319 bp | 25 |
| Apr 2026 | 3 | $146.9M | 102.15 | 7.20% | 323 bp | 34 |
| Mar 2026 | 3 | $110.7M | 106.64 | 8.42% | 468 bp | 40 |
| Feb 2026 | 3 | $192.6M | 106.88 | 7.98% | 444 bp | 27 |
| Jan 2026 | 3 | $145.7M | 107.54 | 8.02% | 439 bp | 39 |
| Dec 2025 | 3 | $115.7M | 107.77 | 8.11% | 454 bp | 42 |
| Nov 2025 | 3 | $160.0M | 105.67 | 8.11% | 453 bp | 27 |
| Oct 2025 | 3 | $112.7M | 94.84 | 9.08% | 552 bp | 37 |
| Sep 2025 | 3 | $88.4M | 92.45 | 9.03% | 545 bp | 37 |
| Aug 2025 | 4 | $154.5M | 98.33 | 9.04% | 533 bp | 28 |
| Jul 2025 | 4 | $109.4M | 96.79 | 9.76% | 588 bp | 39 |
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. 50 added, 40 cut, 29 new holders and 23 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 | $50.9M | $47.3M | -$10.3M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $36.1M | $36.6M | new |
| Janus Henderson Multi-Sector Income Fund Janus Investment Fund | 2026-06-30 | $35.6M | $35.1M | $19.1M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $30.2M | $29.5M | $8.8M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $20.6M | $20.2M | $542K |
| T. Rowe Price U.S. High Yield ETF T. Rowe Price Exchange-Traded Funds, Inc. | 2026-05-31 | $14.5M | $14.3M | $5.5M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $14.2M | $13.9M | $71K |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $10.7M | $10.8M | -$744K |
| JNL/PPM America High Yield Bond Fund JNL Series Trust | 2026-06-30 | $10.1M | $10.0M | new |
| Lord Abbett Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $9.6M | $9.7M | -$2.4M |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $8.8M | $8.6M | $1.5M |
| T. Rowe Price U.S. High Yield Fund T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $8.5M | $8.4M | $2.7M |
| FlexShares High Yield Value - Scored Bond Index Fund FlexShares Trust | 2026-07-31 | $8.6M | $8.3M | $7.0M |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $8.3M | $8.0M | -$795K |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $7.9M | $7.9M | $0 |
| MML Barings High Yield Fund MASSMUTUAL PREMIER FUNDS | 2026-06-30 | $7.3M | $7.5M | $2.9M |
| High Yield Fixed Income Fund Northern Funds | 2026-06-30 | $7.2M | $7.3M | new |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $5.2M | $5.9M | $900K |
| iShares Flexible Income Active ETF BlackRock ETF Trust II | 2026-07-31 | $5.6M | $5.4M | $72K |
| Fidelity Enhanced High Yield ETF Fidelity Covington Trust | 2026-05-31 | $5.6M | $5.4M | $322K |
| BlackRock Strategic Income Opportunities Portfolio BlackRock Funds V | 2026-06-30 | $5.4M | $5.3M | $1.5M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $5.6M | $5.2M | -$25K |
| First Trust Smith Unconstrained Bond ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $4.9M | $5.0M | new |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $4.2M | $4.1M | -$700K |
| Janus Henderson High-Yield Fund Janus Investment Fund | 2026-06-30 | $3.6M | $3.6M | -$3.7M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Lord Abbett Short Duration Income Fund ($66.3M), Invesco BulletShares 2026 High Yield Corporate Bond ETF ($21.3M), Greenspring Income Opportunities Fund ($4.6M), BlackRock Systematic Multi-Strategy Fund ($2.5M), JPMorgan Global Allocation Fund ($1.4M), Lord Abbett Inflation Focused Fund ($1.1M), JNL/Lord Abbett Short Duration Income Fund ($1.1M), iShares Systematic Bond ETF ($830K), Harbor Ares Systematic High Yield ETF ($700K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($619K).
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 | $30.2M | $29.5M | 0.10% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $20.6M | $20.2M | 0.13% |
| THYF T. Rowe Price U.S. High Yield ETF | 2026-05-31 | 2 | $14.5M | $14.3M | 1.75% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $14.2M | $13.9M | 0.12% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $10.7M | $10.8M | 0.15% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 2 | $8.6M | $8.3M | 0.76% |
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 1 | $5.2M | $5.9M | 0.08% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 2 | $5.6M | $5.4M | 1.04% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $5.6M | $5.2M | 0.07% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $4.9M | $5.0M | 0.15% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $4.2M | $4.1M | 0.12% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 2 | $3.2M | $3.1M | 0.06% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $2.8M | $2.8M | 0.17% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $2.9M | $2.8M | 0.12% |
| HYBL State Street(R) Blackstone High Income ETF | 2026-06-30 | 1 | $2.4M | $2.2M | 0.39% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 2.45: safer than 18% of companies (16th percentile in Consumer Defensive). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $1.44B |
| Debt barrier (short-term + ½ long-term debt) | $1.01B |
| Equity volatility (1 year) | 57.9% |
| Asset value / asset volatility (solved) | $2.41B / 34.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 329 bp spread prices in about 5.5% 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 = 2.36 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in HLF'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 | 14 | $2.8M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 229 | $1.33B | 9 | $46.8M | 16 | $164.2M | 0 |
| 2026-03-31 | 238 | $1.36B | 11 | $49.7M | 15 | $134.9M | 0 |
| 2025-12-31 | 222 | $1.32B | 18 | $101.7M | 16 | $149.9M | 0 |
| 2025-09-30 | 213 | $873.7M | 15 | $61.8M | 14 | $86.4M | 0 |
| 2025-06-30 | 205 | $900.9M | 17 | $66.9M | 14 | $79.1M | 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.