Ligand Pharmaceuticals Incorporated bonds LGND
Who owns Ligand Pharmaceuticals Incorporated'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. LGND 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 |
|---|---|---|---|---|---|---|---|---|---|
| 53220KAG3 convertible | 0.75% fixed | 2030-10-01 | USD | 159.12 | — | — | 14 | $33.6M | Jul 2026 |
| 53220KAJ7 convertible | 0% none | 2031-09-15 | USD | 106.68 | — | — | 23 | $138.7M | 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 | $172.3M | 132.90 | — | — | 23 |
| Jun 2026 | 2 | $81.6M | 141.96 | — | — | 25 |
| May 2026 | 1 | $14.1M | 134.35 | — | — | 7 |
| Apr 2026 | 1 | $54.0M | 134.30 | — | — | 22 |
| Mar 2026 | 1 | $33.9M | 121.06 | — | — | 22 |
| Feb 2026 | 1 | $17.2M | 121.40 | — | — | 6 |
| Jan 2026 | 1 | $63.3M | 119.53 | — | — | 19 |
| Dec 2025 | 1 | $49.2M | 117.20 | — | — | 11 |
| Nov 2025 | 1 | $17.9M | 120.70 | — | — | 4 |
| Oct 2025 | 1 | $56.1M | 117.27 | — | — | 17 |
| Sep 2025 | 1 | $38.4M | 112.65 | — | — | 10 |
| Aug 2025 | 1 | $10.0M | 106.80 | — | — | 4 |
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. 36 added, 4 cut, 23 new holders and 3 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $25.2M | $32.0M | $17.3M |
| CALAMOS STRATEGIC TOTAL RETURN FUND | 2026-07-31 | $18.7M | $19.9M | new |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $11.8M | $17.2M | $6.3M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $12.5M | $16.0M | $7.5M |
| Calamos Growth & Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $14.1M | $15.0M | new |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $11.7M | $14.9M | $5.7M |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $11.4M | $14.6M | $5.6M |
| CALAMOS CONVERTIBLE & HIGH INCOME FUND | 2026-07-31 | $12.0M | $12.8M | $9.8M |
| Calamos Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $11.8M | $12.5M | $9.5M |
| CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND | 2026-07-31 | $11.5M | $12.3M | $9.2M |
| Calamos Dynamic Convertible & Income Fund | 2026-07-31 | $9.5M | $10.1M | $7.8M |
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $8.8M | $9.9M | new |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $6.5M | $8.7M | -$3.5M |
| Calamos Global Dynamic Income Fund | 2026-07-31 | $7.1M | $7.5M | $3.1M |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $5.8M | $6.5M | $3.5M |
| Calamos Global Opportunities Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $5.3M | $5.7M | $2.5M |
| Ellsworth Growth & Income Fund Ltd | 2026-06-30 | $2.6M | $4.5M | $0 |
| Bancroft Fund Ltd | 2026-06-30 | $2.6M | $4.5M | $0 |
| WESTWOOD ALTERNATIVE INCOME FUND Ultimus Managers Trust | 2026-07-31 | $2.5M | $4.0M | $500K |
| Virtus Convertible & Income Fund | 2026-07-31 | $3.0M | $3.5M | $970K |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $2.5M | $3.4M | $0 |
| Virtus Convertible & Income Fund II | 2026-07-31 | $2.4M | $2.8M | $775K |
| Virtus Dividend, Interest & Premium Strategy Fund | 2026-07-31 | $2.4M | $2.8M | $770K |
| Virtus Equity & Convertible Income Fund | 2026-07-31 | $2.4M | $2.8M | $775K |
| Putnam Convertible Securities Fund | 2026-07-31 | $2.5M | $2.7M | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Defensive Market Strategies Fund ($346K), 1290 Loomis Sayles Multi-Asset Income Fund ($146K), State Street(R) Loomis Sayles Opportunistic Bond ETF ($19K).
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 | $25.2M | $32.0M | 0.44% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 2 | $11.8M | $17.2M | 0.28% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 2 | $802K | $1.0M | 1.01% |
| NFLT Virtus Newfleet Multi-Sector Bond ETF | 2026-07-31 | 1 | $72K | $77K | 0.02% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 7.19: safer than 67% of companies (63th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $5.91B |
| Debt barrier (short-term + ½ long-term debt) | $563.3M |
| Equity volatility (1 year) | 36.8% |
| Asset value / asset volatility (solved) | $6.45B / 33.7% |
| 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'' = 6.67 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in LGND'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 | 42 | $416.9M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 404 | $7.04B | 7 | $13.5M | 6 | $14.6M | 1 |
| 2026-03-31 | 343 | $3.51B | 5 | $6.9M | 5 | $8.5M | 0 |
| 2025-12-31 | 338 | $3.76B | 3 | $1.8M | 4 | $6.7M | 0 |
| 2025-09-30 | 304 | $3.61B | 2 | $2.0M | 5 | $3.5M | 1 |
| 2025-06-30 | 261 | $2.16B | 2 | $11K | 4 | $1.1M | 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.