IREN Limited bonds IREN
Who owns IREN Limited'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. IREN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 46270CAD1 | 3.5% fixed | 2029-12-15 | USD | 291.88 | — | — | 2 | $14.5M | Jul 2026 |
| 46270CAC3 convertible | 3.5% fixed | 2029-12-15 | USD | — | — | — | 1 | $3.5M | May 2026 |
| 46270CAB5 | 3.25% fixed | 2030-06-15 | USD | 234.61 | — | — | 1 | $744K | Jul 2026 |
| 46270CAE9 convertible | 0% none | 2031-07-01 | USD | 76.76 | — | — | 17 | $47.0M | Jul 2026 |
| 46270CAG4 convertible | 0.25% fixed | 2032-06-01 | USD | 93.54 | — | — | 6 | $65.0M | Jul 2026 |
| 46270CAJ8 convertible | 1% fixed | 2033-06-01 | USD | 94.50 | — | — | 6 | $25.1M | Jul 2026 |
| 46270CAL3 convertible | 1% fixed | 2033-12-01 | USD | 75.74 | — | — | 19 | $217.4M | 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 | 6 | $369.7M | 94.02 | — | — | 19 |
| Jun 2026 | 6 | $215.5M | 110.47 | — | — | 26 |
| May 2026 | 6 | $56.3M | 140.82 | — | — | 10 |
| Apr 2026 | 5 | $232.3M | 110.80 | — | — | 21 |
| Mar 2026 | 5 | $105.1M | 87.96 | — | — | 20 |
| Feb 2026 | 5 | $13.6M | 100.30 | — | — | 4 |
| Jan 2026 | 4 | $223.9M | 122.52 | — | — | 23 |
| Dec 2025 | 5 | $143.7M | 93.63 | — | — | 32 |
| Nov 2025 | 3 | $8.1M | 300.80 | — | — | 7 |
| Oct 2025 | 3 | $163.6M | 239.62 | — | — | 25 |
| Sep 2025 | 2 | $106.5M | 325.65 | — | — | 7 |
| Jul 2025 | 2 | $54.6M | 131.21 | — | — | 17 |
| Jun 2025 | 2 | $54.8M | 119.14 | — | — | 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. 39 added, 21 cut, 32 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $133.1M | $110.0M | $76.8M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $114.4M | $102.6M | $59.6M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $93.5M | $89.6M | $50.3M |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $21.9M | $23.2M | $12.9M |
| CALAMOS CONVERTIBLE & HIGH INCOME FUND | 2026-07-31 | $30.1M | $22.8M | $13.6M |
| Calamos Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $28.7M | $21.7M | $10.7M |
| AQR Diversified Arbitrage Fund AQR Funds | 2026-06-30 | $24.9M | $21.6M | $11.7M |
| CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND | 2026-07-31 | $28.5M | $21.6M | $13.0M |
| Calamos Dynamic Convertible & Income Fund | 2026-07-31 | $23.9M | $18.1M | $10.9M |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $20.6M | $17.9M | $8.8M |
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $16.5M | $17.5M | $2.0M |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $20.0M | $17.4M | $8.7M |
| JNL Multi-Manager Alternative Fund JNL Series Trust | 2026-06-30 | $5.0M | $12.9M | $1.5M |
| Columbia Flexible Capital Income Fund Columbia Funds Series Trust II | 2026-05-31 | $10.0M | $10.9M | new |
| Fidelity SAI Convertible Arbitrage Fund Fidelity Greenwood Street Trust | 2026-07-31 | $14.0M | $10.5M | new |
| CALAMOS STRATEGIC TOTAL RETURN FUND | 2026-07-31 | $13.6M | $10.3M | $5.5M |
| TRI-CONTINENTAL Corp | 2026-06-30 | $9.2M | $8.0M | new |
| Calamos Growth & Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $10.3M | $7.8M | $4.1M |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $4.6M | $5.7M | new |
| Global Opportunities Portfolio | 2026-07-31 | $6.2M | $5.3M | $0 |
| Lord Abbett Convertible Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $4.8M | $5.2M | new |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $6.0M | $5.2M | $1.6M |
| Franklin Alternative Strategies Fund Franklin Alternative Strategies Funds | 2026-05-29 | $1.5M | $5.2M | $175K |
| Advent Convertible & Income Fund ADVENT CONVERTIBLE & INCOME FUND | 2026-07-31 | $6.2M | $4.9M | $5.0M |
| Putnam Convertible Securities Fund | 2026-07-31 | $6.1M | $4.6M | $4.4M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): FS Multi-Strategy Alternatives Fund ($4.2M), Defensive Market Strategies Fund ($3.0M).
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 | $133.1M | $110.0M | 1.53% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 4 | $93.5M | $89.6M | 1.45% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $1.4M | $1.1M | 1.08% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 3 | $530K | $476K | 0.04% |
| CRDT Simplify Opportunistic Income ETF | 2026-06-30 | 1 | $500K | $435K | 1.20% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 2 | $385K | $382K | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.27: safer than 8% of companies (8th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $10.97B |
| Debt barrier (short-term + ½ long-term debt) | $3.88B |
| Equity volatility (1 year) | 106.2% |
| Asset value / asset volatility (solved) | $14.58B / 81.4% |
| 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'' = 2.57 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in IREN'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 | 76 | $53.4M | 1 | $195.1M | 8 | $16.6M | 0 |
| 2026-06-30 | 667 | $9.66B | 58 | $4.30B | 64 | $4.85B | 2 |
| 2026-03-31 | 491 | $5.51B | 43 | $2.63B | 46 | $2.66B | 1 |
| 2025-12-31 | 400 | $5.23B | 49 | $3.93B | 53 | $3.85B | 1 |
| 2025-09-30 | 345 | $5.98B | 53 | $4.72B | 50 | $3.62B | 2 |
| 2025-06-30 | 200 | $1.85B | 27 | $899.8M | 42 | $719.3M | 1 |
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.