HealthEquity, Inc. bonds HQY
Who owns HealthEquity, 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. HQY 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 |
|---|---|---|---|---|---|---|---|---|---|
| 42226AAA5 | 4.5% fixed | 2029-10-01 | USD | 97.00 | 5.54% | 128 bp | 35 | $84.1M | 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 | $84.1M | 97.00 | 5.54% | 128 bp | 35 |
| Jun 2026 | 1 | $132.9M | 97.22 | 5.44% | 128 bp | 54 |
| May 2026 | 1 | $32.8M | 97.38 | 5.37% | 131 bp | 22 |
| Apr 2026 | 1 | $84.2M | 97.14 | 5.43% | 158 bp | 36 |
| Mar 2026 | 1 | $128.9M | 96.81 | 5.51% | 175 bp | 57 |
| Feb 2026 | 1 | $29.7M | 97.45 | 5.29% | 172 bp | 22 |
| Jan 2026 | 1 | $88.8M | 97.54 | 5.24% | 158 bp | 33 |
| Dec 2025 | 1 | $120.7M | 98.27 | 5.01% | 140 bp | 55 |
| Nov 2025 | 1 | $18.9M | 98.27 | 5.00% | 140 bp | 20 |
| Oct 2025 | 1 | $90.2M | 97.39 | 5.24% | 166 bp | 35 |
| Sep 2025 | 1 | $112.2M | 97.01 | 5.34% | 173 bp | 55 |
| Aug 2025 | 1 | $18.2M | 96.70 | 5.41% | 168 bp | 20 |
| Jul 2025 | 1 | $96.8M | 96.35 | 5.49% | 158 bp | 35 |
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, 17 cut, 1 new holders and 5 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $31.7M | $30.8M | $0 |
| BrandywineGLOBAL - HIGH YIELD FUND Legg Mason Partners Investment Trust | 2026-06-30 | $22.7M | $22.1M | $4.6M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $19.0M | $18.4M | $0 |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $15.8M | $15.4M | $3.9M |
| Eaton Vance Income Fund of Boston Eaton Vance Series Trust II | 2026-07-31 | $15.4M | $14.9M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $11.8M | $11.5M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $10.5M | $10.2M | -$149K |
| First Trust Smith Opportunistic Fixed Income ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $6.7M | $6.5M | $1.5M |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $6.4M | $6.2M | $0 |
| First Trust Smith Unconstrained Bond ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $6.2M | $6.1M | $1.4M |
| High Yield Fund John Hancock Bond Trust | 2026-05-31 | $5.9M | $5.8M | $0 |
| HIGH INCOME OPPORTUNITIES PORTFOLIO High Income Opportunities Portfolio | 2026-07-31 | $5.7M | $5.5M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $5.5M | $5.4M | $485K |
| High Yield Bond Core Fund Federated Hermes Core Trust | 2026-06-30 | $4.8M | $4.7M | $0 |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $4.4M | $4.3M | $200K |
| NYLIM MacKay Short Duration High Income Fund NYLIM FUNDS TRUST | 2026-07-31 | $4.2M | $4.1M | $0 |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $4.0M | $3.9M | $1.0M |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $3.7M | $3.6M | $0 |
| BlackRock Multi-Asset Income Portfolio BlackRock Funds II | 2026-07-31 | $3.1M | $3.0M | $576K |
| Federated Hermes Sustainable High Yield Bond Fund, Inc. | 2026-06-30 | $3.1M | $3.0M | $0 |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $3.0M | $2.9M | $0 |
| Columbia Strategic Income Fund COLUMBIA FUNDS SERIES TRUST I | 2026-05-31 | $2.9M | $2.8M | $0 |
| BlackRock High Yield V.I. Fund BlackRock Variable Series Funds II, Inc. | 2026-06-30 | $2.7M | $2.6M | $870K |
| Calvert High Yield Bond Fund Calvert Fund | 2026-06-30 | $2.5M | $2.5M | $0 |
| High Yield Bond Portfolio NORTHWESTERN MUTUAL SERIES FUND INC | 2026-06-30 | $2.2M | $2.2M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): CITY NATIONAL ROCHDALE FIXED INCOME OPPORTUNITIES FUND ($625K), BlackRock Low Duration Bond Portfolio ($623K), BlackRock Multi-Sector Income Trust ($559K), iShares Short Duration Bond Active ETF ($321K), BlackRock Core Bond Trust ($170K).
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 | $10.5M | $10.2M | 0.04% |
| FIXD First Trust Smith Opportunistic Fixed Income ETF | 2026-05-31 | 1 | $6.7M | $6.5M | 0.20% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $6.2M | $6.1M | 0.19% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $5.5M | $5.4M | 0.07% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $2.0M | $2.0M | 0.02% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $1.8M | $1.7M | 0.04% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $1.5M | $1.5M | 0.09% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.2M | $1.2M | 0.05% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $1.2M | $1.2M | 0.05% |
| IBHI iShares iBonds 2029 Term High Yield and Income ETF | 2026-07-31 | 1 | $1.0M | $1.0M | 0.20% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $640K | $621K | 0.00% |
| NUHY Nuveen ESG High Yield Corporate Bond ETF | 2026-07-31 | 1 | $505K | $489K | 0.44% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $483K | $469K | 0.01% |
| HYSD Columbia Short Duration High Yield ETF | 2026-06-30 | 1 | $421K | $409K | 0.39% |
| HYZD WisdomTree Interest Rate Hedged High Yield Bond Fund | 2026-05-31 | 1 | $347K | $338K | 0.14% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 8.56: safer than 75% of companies (71th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-07-31.
| Equity value | $7.70B |
| Debt barrier (short-term + ½ long-term debt) | $475.5M |
| Equity volatility (1 year) | 35.0% |
| Asset value / asset volatility (solved) | $8.15B / 33.1% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 128 bp spread prices in about 2.1% 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'' = 3.10 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in HQY'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 | 54 | $754.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 485 | $7.93B | 7 | $3.8M | 7 | $10.1M | 0 |
| 2026-03-31 | 467 | $6.25B | 5 | $14.0M | 7 | $14.9M | 0 |
| 2025-12-31 | 495 | $7.85B | 6 | $5.5M | 9 | $20.1M | 0 |
| 2025-09-30 | 480 | $8.14B | 8 | $6.7M | 8 | $18.8M | 0 |
| 2025-06-30 | 472 | $9.20B | 9 | $24.6M | 9 | $33.3M | 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.