MGM Resorts International bonds MGM
Who owns MGM Resorts International'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. MGM 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 |
|---|---|---|---|---|---|---|---|---|---|
| 552953CD1 | 4.625% fixed | 2026-09-01 | USD | 99.98 | 4.86% | 113 bp | 9 | $25.0M | Jul 2026 |
| 552953CF6 | 5.5% fixed | 2027-04-15 | USD | 100.15 | 5.26% | 134 bp | 15 | $33.8M | Jul 2026 |
| 552953CH2 | 4.75% fixed | 2028-10-15 | USD | 99.01 | 5.23% | 100 bp | 22 | $59.3M | Jul 2026 |
| 552953CK5 | 6.125% fixed | 2029-09-15 | USD | 100.63 | 5.90% | 164 bp | 41 | $89.5M | Jul 2026 |
| 552953CJ8 | 6.5% fixed | 2032-04-15 | USD | 99.12 | 6.68% | 231 bp | 32 | $53.4M | 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 | 5 | $261.0M | 99.98 | 5.90% | 164 bp | 41 |
| Jun 2026 | 5 | $307.3M | 100.03 | 5.78% | 163 bp | 54 |
| May 2026 | 5 | $420.0M | 100.21 | 5.63% | 158 bp | 34 |
| Apr 2026 | 5 | $307.8M | 100.19 | 5.68% | 184 bp | 47 |
| Mar 2026 | 5 | $299.4M | 100.27 | 5.70% | 196 bp | 60 |
| Feb 2026 | 5 | $471.8M | 100.91 | 4.99% | 146 bp | 30 |
| Jan 2026 | 5 | $316.9M | 100.64 | 5.18% | 159 bp | 53 |
| Dec 2025 | 5 | $318.3M | 100.93 | 5.06% | 149 bp | 65 |
| Nov 2025 | 5 | $447.6M | 100.68 | 5.22% | 161 bp | 31 |
| Oct 2025 | 5 | $307.5M | 100.55 | 5.35% | 177 bp | 51 |
| Sep 2025 | 5 | $333.3M | 100.67 | 5.33% | 174 bp | 59 |
| Aug 2025 | 5 | $439.8M | 100.62 | 5.18% | 132 bp | 37 |
| Jul 2025 | 5 | $335.6M | 100.38 | 5.26% | 134 bp | 49 |
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. 42 added, 54 cut, 12 new holders and 21 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $168.8M | $169.3M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $62.7M | $62.9M | -$3.0M |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $44.5M | $44.6M | $0 |
| Artisan High Income Fund Artisan Partners Funds Inc. | 2026-06-30 | $44.9M | $44.6M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $43.3M | $43.1M | -$8.7M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $33.2M | $33.5M | -$9.0M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $22.9M | $22.9M | -$725K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $22.7M | $22.7M | $4.1M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $21.2M | $21.5M | -$15.0M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $16.2M | $16.1M | -$9.1M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $15.5M | $15.6M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $14.3M | $14.4M | $2.5M |
| iShares iBonds 2026 Term High Yield and Income ETF iShares Trust | 2026-07-31 | $14.3M | $14.2M | -$1.8M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $14.0M | $14.1M | $95K |
| Oakmark Equity and Income Fund HARRIS ASSOCIATES INVESTMENT TRUST | 2026-06-30 | $13.9M | $13.8M | $0 |
| Shenkman Capital Short Duration High Income Fund Advisors Series Trust | 2026-06-30 | $13.7M | $13.8M | $241K |
| JPMorgan Income Fund JPMorgan Trust I | 2026-05-31 | $13.3M | $13.4M | $360K |
| Loomis Sayles Core Plus Bond Fund Natixis Funds Trust I | 2026-06-30 | $11.8M | $11.8M | $0 |
| Invesco BulletShares 2026 High Yield Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $11.2M | $11.2M | $294K |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $11.1M | $11.0M | $0 |
| RBC BlueBay High Yield Bond Fund RBC Funds Trust | 2026-06-30 | $10.8M | $10.8M | $968K |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $10.0M | $10.0M | -$3.6M |
| JPMorgan Core Plus Bond Fund JPMorgan Trust II | 2026-05-31 | $9.9M | $10.0M | $155K |
| JPMorgan Active High Yield ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $9.6M | $9.6M | $182K |
| PGIM Active High Yield Bond ETF PGIM ETF Trust | 2026-05-29 | $9.5M | $9.6M | $768K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Bond Fund ($19.9M), VANGUARD HIGH-YIELD CORPORATE FUND ($10.2M), VANGUARD SHORT-TERM INVESTMENT-GRADE FUND ($4.6M), Hotchkis and Wiley High Yield Fund ($3.7M), John Hancock Managed Account Shares Non-Investment-Grade Corporate Bond Portfolio ($1.1M), Victory High Income Fund ($850K), Columbia Variable Portfolio - Income Opportunities Fund ($778K), VANGUARD STAR CORE-PLUS BOND FUND ($650K), BlackRock Global Allocation Fund, Inc. ($545K), VictoryShares Core Plus Bond ETF ($500K).
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 | 3 | $43.3M | $43.1M | 0.15% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 3 | $33.2M | $33.5M | 0.21% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 4 | $22.9M | $22.9M | 0.30% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 3 | $22.7M | $22.7M | 0.20% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $14.3M | $14.4M | 0.20% |
| IBHF iShares iBonds 2026 Term High Yield and Income ETF | 2026-07-31 | 1 | $14.3M | $14.2M | 1.76% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 4 | $14.0M | $14.1M | 0.29% |
| BSJQ Invesco BulletShares 2026 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $11.2M | $11.2M | 1.09% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 4 | $9.6M | $9.6M | 0.44% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 5 | $9.5M | $9.6M | 0.73% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $8.0M | $7.9M | 0.24% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 3 | $7.0M | $7.1M | 0.20% |
| IBHG iShares iBonds 2027 Term High Yield and Income ETF | 2026-07-31 | 1 | $5.8M | $5.8M | 1.14% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 3 | $5.4M | $5.5M | 0.04% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 4 | $4.7M | $4.8M | 0.05% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.40: safer than 42% of companies (40th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $7.15B |
| Debt barrier (short-term + ½ long-term debt) | $3.03B |
| Equity volatility (1 year) | 38.5% |
| Asset value / asset volatility (solved) | $10.06B / 27.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 164 bp spread prices in about 2.7% 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'' = 0.60 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in MGM'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 | 72 | $22.3M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 651 | $8.04B | 33 | $238.3M | 25 | $423.3M | 0 |
| 2026-03-31 | 595 | $5.16B | 29 | $197.3M | 22 | $202.6M | 0 |
| 2025-12-31 | 595 | $6.45B | 31 | $234.8M | 28 | $234.1M | 1 |
| 2025-09-30 | 621 | $6.38B | 32 | $219.6M | 31 | $222.1M | 1 |
| 2025-06-30 | 611 | $6.60B | 34 | $269.4M | 26 | $229.4M | 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.