Nebius Group N.V. bonds NBIS
Who owns Nebius Group N.V.'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. NBIS 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 |
|---|---|---|---|---|---|---|---|---|---|
| 63954QAA4 | 2% fixed | 2029-06-05 | USD | 372.21 | — | — | 2 | $39.9M | Jul 2026 |
| 63954QAE6 convertible | 1% fixed | 2030-09-15 | USD | 159.81 | — | — | 7 | $107.3M | Jul 2026 |
| 63954QAJ5 convertible | 1.25% fixed | 2031-03-15 | USD | 131.63 | — | — | 13 | $138.5M | Jul 2026 |
| 63954QAC0 | 3% fixed | 2031-06-05 | USD | 375.80 | — | — | 2 | $39.6M | Jul 2026 |
| 63954QAF3 convertible | 2.75% fixed | 2032-09-15 | USD | 157.19 | — | — | 5 | $118.7M | Jul 2026 |
| 63954QAL0 | 2.625% fixed | 2033-03-15 | USD | 132.83 | — | — | 5 | $113.9M | 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 | 6 | $557.8M | 158.50 | — | — | 13 |
| Jun 2026 | 6 | $462.0M | 195.58 | — | — | 17 |
| May 2026 | 6 | $81.7M | 170.38 | — | — | 4 |
| Apr 2026 | 6 | $422.2M | 128.21 | 1.06% | -305 bp | 21 |
| Mar 2026 | 6 | $246.4M | 105.81 | 3.75% | -28 bp | 20 |
| Feb 2026 | 4 | $59.6M | 148.40 | — | — | 4 |
| Jan 2026 | 4 | $152.5M | 143.37 | — | — | 10 |
| Dec 2025 | 4 | $125.2M | 140.64 | — | — | 15 |
| Nov 2025 | 4 | $55.8M | 153.11 | — | — | 5 |
| Oct 2025 | 4 | $224.9M | 196.35 | — | — | 22 |
| Sep 2025 | 4 | $114.1M | 173.15 | — | — | 17 |
| Jul 2025 | 2 | $15.7M | 134.46 | — | — | 2 |
| Jun 2025 | 2 | $1.5M | 131.84 | — | — | 2 |
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. 12 added, 23 cut, 6 new holders and 29 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $178.8M | $303.3M | $37.5M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $126.8M | $293.2M | $28.8M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $132.0M | $189.3M | $45.0M |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $13.4M | $23.4M | $1.7M |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $13.0M | $22.6M | $1.8M |
| Invesco Equity and Income Fund AIM Counselor Series Trust (Invesco Counselor Series Trust) | 2026-05-31 | $10.8M | $20.0M | -$8.4M |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $9.2M | $19.8M | -$5.2M |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $12.0M | $18.7M | -$7.7M |
| BlackRock Event Driven Equity Fund BlackRock Large Cap Series Funds, Inc. | 2026-05-29 | $11.1M | $17.9M | $6.1M |
| JNL Multi-Manager Alternative Fund JNL Series Trust | 2026-06-30 | $4.6M | $15.8M | -$1.3M |
| NYLIM VP MacKay Convertible Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $6.9M | $14.9M | $0 |
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $6.0M | $12.8M | -$1.0M |
| Global Opportunities Portfolio | 2026-07-31 | $7.9M | $11.7M | $0 |
| NYLIM MacKay Convertible Fund NYLIM FUNDS | 2026-07-31 | $7.3M | $11.6M | $0 |
| AQR Diversified Arbitrage Fund AQR Funds | 2026-06-30 | $5.7M | $11.1M | -$7.9M |
| Columbia Flexible Capital Income Fund Columbia Funds Series Trust II | 2026-05-31 | $7.0M | $10.9M | -$5.5M |
| TRI-CONTINENTAL Corp | 2026-06-30 | $5.0M | $8.8M | -$7.5M |
| Virtus Artificial Intelligence & Technology Opportunities Fund | 2026-07-31 | $6.2M | $8.1M | -$1.8M |
| Ellsworth Growth & Income Fund Ltd | 2026-06-30 | $3.6M | $7.3M | $0 |
| Bancroft Fund Ltd | 2026-06-30 | $3.6M | $7.3M | $0 |
| Lord Abbett Convertible Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $3.8M | $7.0M | new |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $4.1M | $6.5M | $550K |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $3.3M | $5.8M | $76K |
| Putnam Convertible Securities Fund | 2026-07-31 | $3.9M | $5.5M | -$500K |
| Gabelli Convertible & Income Securities Fund Inc | 2026-06-30 | $2.5M | $5.0M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): CALAMOS STRATEGIC TOTAL RETURN FUND ($10.3M), Calamos Growth & Income Fund ($7.9M), BlackRock Strategic Income Opportunities Portfolio ($6.9M), CALAMOS CONVERTIBLE & HIGH INCOME FUND ($5.5M), CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND ($5.2M), Calamos Convertible Fund ($5.1M), Calamos Dynamic Convertible & Income Fund ($4.3M), Catalyst/SMH High Income Fund ($4.0M), Defensive Market Strategies Fund ($3.4M), BlackRock Total Return Fund ($2.7M).
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 | 6 | $178.8M | $303.3M | 4.22% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 6 | $126.8M | $293.2M | 4.73% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 3 | $3.1M | $4.3M | 4.23% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 2 | $490K | $967K | 0.08% |
| OBND State Street(R) Loomis Sayles Opportunistic Bond ETF | 2026-06-30 | 1 | $38K | $66K | 0.11% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.96: safer than 14% of companies (13th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $41.10B |
| Debt barrier (short-term + ½ long-term debt) | $4.30B |
| Equity volatility (1 year) | 107.4% |
| Asset value / asset volatility (solved) | $45.18B / 97.9% |
| 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'' = 2.79 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in NBIS'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 | 132 | $362.2M | 1 | $1.8M | 6 | $68.8M | 0 |
| 2026-06-30 | 1,047 | $41.94B | 61 | $15.10B | 50 | $10.55B | 2 |
| 2026-03-31 | 710 | $11.79B | 41 | $2.89B | 41 | $2.56B | 2 |
| 2025-12-31 | 609 | $8.38B | 47 | $2.39B | 42 | $2.43B | 1 |
| 2025-09-30 | 554 | $10.71B | 40 | $2.33B | 47 | $2.70B | 2 |
| 2025-06-30 | 393 | $4.64B | 29 | $576.9M | 33 | $983.6M | 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.