Ionis Pharmaceuticals, Inc. bonds IONS
Who owns Ionis Pharmaceuticals, 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. IONS 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 |
|---|---|---|---|---|---|---|---|---|---|
| 462222AF7 convertible | 1.75% fixed | 2028-06-15 | USD | 118.88 | — | — | 8 | $19.0M | Jul 2026 |
| 462222AG5 convertible | 0% none | 2030-12-01 | USD | 88.49 | — | — | 27 | $96.2M | 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 | 2 | $115.2M | 103.69 | — | — | 27 |
| Jun 2026 | 2 | $102.9M | 131.03 | — | — | 25 |
| May 2026 | 2 | $45.0M | 127.72 | — | — | 8 |
| Apr 2026 | 2 | $171.9M | 126.48 | — | — | 29 |
| Mar 2026 | 2 | $96.7M | 127.55 | — | — | 24 |
| Feb 2026 | 3 | $53.3M | 140.30 | — | — | 9 |
| Jan 2026 | 3 | $195.3M | 142.77 | — | — | 30 |
| Dec 2025 | 3 | $105.9M | 137.30 | — | — | 24 |
| Nov 2025 | 3 | $43.5M | 143.19 | — | — | 7 |
| Oct 2025 | 2 | $116.6M | 143.73 | — | — | 20 |
| Sep 2025 | 2 | $68.6M | 130.53 | — | — | 14 |
| Aug 2025 | 2 | $22.2M | 106.37 | — | — | 5 |
| Jul 2025 | 2 | $74.5M | 106.77 | — | — | 15 |
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. 15 added, 21 cut, 1 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $29.2M | $29.5M | $6.0M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $20.0M | $25.6M | $2.2M |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $15.5M | $19.2M | $1.9M |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $14.6M | $18.0M | $2.1M |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $17.0M | $17.8M | -$2.0M |
| NYLI MacKay Convertible Fund NEW YORK LIFE INVESTMENTS FUNDS | 2026-07-31 | $17.8M | $15.7M | $1.8M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $17.2M | $15.3M | -$12.4M |
| NYLIM VP MacKay Convertible Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $12.4M | $13.2M | -$1.4M |
| Lord Abbett Convertible Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $10.1M | $10.6M | $2.2M |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $6.9M | $9.1M | -$2.8M |
| CALAMOS CONVERTIBLE & HIGH INCOME FUND | 2026-07-31 | $10.0M | $8.9M | $0 |
| CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND | 2026-07-31 | $9.2M | $8.2M | $0 |
| Calamos Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $9.2M | $8.2M | $0 |
| Calamos Dynamic Convertible & Income Fund | 2026-07-31 | $7.8M | $6.9M | $0 |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $6.2M | $6.6M | -$2.5M |
| Bancroft Fund Ltd | 2026-06-30 | $4.0M | $4.2M | $1.6M |
| Ellsworth Growth & Income Fund Ltd | 2026-06-30 | $4.0M | $4.2M | $1.6M |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $3.0M | $4.0M | -$1.2M |
| THE HARTFORD STRATEGIC INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $2.9M | $3.3M | -$1.9M |
| Advent Convertible & Income Fund ADVENT CONVERTIBLE & INCOME FUND | 2026-07-31 | $3.3M | $3.2M | $583K |
| Global Opportunities Portfolio | 2026-07-31 | $2.7M | $2.4M | $0 |
| Putnam Convertible Securities Fund | 2026-07-31 | $2.7M | $2.4M | $0 |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $1.4M | $2.2M | $0 |
| Voya Global Income & Growth Fund Voya Equity Trust | 2026-05-31 | $2.1M | $2.2M | $0 |
| Gabelli Convertible & Income Securities Fund Inc | 2026-06-30 | $1.7M | $1.9M | $789K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Calamos Global Dynamic Income Fund ($2.2M), WESTWOOD ALTERNATIVE INCOME FUND ($2.0M), Calamos Global Opportunities Fund ($1.6M), First Trust SSI Strategic Convertible Securities ETF ($980K), Defensive Market Strategies Fund ($561K), CALAMOS GLOBAL TOTAL RETURN FUND ($521K), 1290 Loomis Sayles Multi-Asset Income Fund ($126K), State Street(R) Loomis Sayles Opportunistic Bond ETF ($15K).
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 | 2 | $29.2M | $29.5M | 0.41% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 2 | $20.0M | $25.6M | 0.41% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 2 | $1.1M | $1.0M | 0.10% |
| CRDT Simplify Opportunistic Income ETF | 2026-06-30 | 1 | $500K | $534K | 1.47% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 1 | $165K | $176K | 0.02% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.01: safer than 49% of companies (46th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $7.39B |
| Debt barrier (short-term + ½ long-term debt) | $1.20B |
| Equity volatility (1 year) | 44.5% |
| Asset value / asset volatility (solved) | $8.54B / 38.6% |
| 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'' = 1.30 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in IONS'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 | 36 | $13.7M | 0 | — | 0 | — | 2 |
| 2026-06-30 | 505 | $13.67B | 19 | $250.1M | 28 | $393.0M | 35 |
| 2026-03-31 | 479 | $10.89B | 17 | $144.3M | 21 | $141.4M | 40 |
| 2025-12-31 | 480 | $12.28B | 19 | $102.3M | 25 | $149.5M | 57 |
| 2025-09-30 | 428 | $9.95B | 16 | $69.8M | 27 | $165.5M | 51 |
| 2025-06-30 | 354 | $5.91B | 13 | $28.6M | 13 | $61.8M | 55 |
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.