NNN REIT, Inc. bonds NNN
Who owns NNN REIT, 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. NNN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 637417AJ5 | 3.6% fixed | 2026-12-15 | USD | 99.74 | 4.30% | 52 bp | 3 | $16.4M | Jul 2026 |
| 637417AK2 | 3.5% fixed | 2027-10-15 | USD | 98.75 | 4.57% | 48 bp | 7 | $4.3M | Jul 2026 |
| 637417AL0 | 4.3% fixed | 2028-10-15 | USD | 99.05 | 4.75% | 52 bp | 8 | $5.3M | Jul 2026 |
| 637417AN6 | 2.5% fixed | 2030-04-15 | USD | 91.70 | 4.98% | 69 bp | 9 | $22.5M | Jul 2026 |
| 637417AU0 | 4.6% fixed | 2031-02-15 | USD | 98.20 | 5.05% | 74 bp | 11 | $14.7M | Jul 2026 |
| 637417AS5 | 5.6% fixed | 2033-10-15 | USD | 101.03 | 5.42% | 96 bp | 20 | $44.1M | Jul 2026 |
| 637417AT3 | 5.5% fixed | 2034-06-15 | USD | 100.13 | 5.48% | 98 bp | 14 | $37.4M | Jul 2026 |
| 637417AM8 | 4.8% fixed | 2048-10-15 | USD | 83.35 | 6.19% | 108 bp | 3 | $1.3M | Jul 2026 |
| 637417AP1 | 3.1% fixed | 2050-04-15 | USD | 62.30 | 6.14% | 103 bp | 2 | $479K | Jul 2026 |
| 637417AQ9 | 3.5% fixed | 2051-04-15 | USD | 67.14 | 6.09% | 98 bp | 7 | $8.7M | Jul 2026 |
| 637417AR7 | 3% fixed | 2052-04-15 | USD | 59.97 | 6.11% | 100 bp | 4 | $684K | 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 | 11 | $155.9M | 98.20 | 5.45% | 97 bp | 20 |
| Jun 2026 | 11 | $258.9M | 98.74 | 5.17% | 78 bp | 33 |
| May 2026 | 11 | $280.4M | 98.77 | 5.17% | 78 bp | 25 |
| Apr 2026 | 11 | $151.6M | 98.84 | 5.21% | 100 bp | 20 |
| Mar 2026 | 11 | $236.2M | 98.86 | 5.20% | 104 bp | 32 |
| Feb 2026 | 11 | $248.1M | 99.42 | 4.78% | 81 bp | 24 |
| Jan 2026 | 11 | $137.8M | 99.20 | 4.97% | 89 bp | 20 |
| Dec 2025 | 11 | $267.5M | 99.16 | 4.93% | 94 bp | 33 |
| Nov 2025 | 11 | $260.9M | 99.04 | 4.80% | 88 bp | 24 |
| Oct 2025 | 12 | $160.2M | 99.09 | 4.89% | 98 bp | 19 |
| Sep 2025 | 12 | $274.4M | 99.10 | 4.91% | 95 bp | 32 |
| Aug 2025 | 12 | $280.7M | 99.01 | 5.00% | 91 bp | 25 |
| Jul 2025 | 12 | $150.6M | 98.37 | 5.12% | 87 bp | 19 |
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. 45 added, 29 cut, 9 new holders and 3 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $69.4M | $60.5M | -$2.0M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $53.4M | $54.7M | $4.3M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $48.0M | $40.1M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $36.3M | $36.0M | $12.7M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $33.5M | $33.8M | $0 |
| Fidelity Real Estate Income Fund Fidelity Securities Fund | 2026-07-31 | $26.8M | $24.2M | $0 |
| JPMorgan Core Bond Fund JPMorgan Trust II | 2026-05-31 | $22.2M | $22.6M | $0 |
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $20.3M | $20.1M | new |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $19.0M | $18.8M | $10.3M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $20.8M | $18.4M | -$370K |
| VANGUARD WELLESLEY INCOME FUND | 2026-06-30 | $17.7M | $18.0M | $0 |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $18.9M | $17.4M | $0 |
| Fidelity Investment Grade Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $17.1M | $17.4M | $0 |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $16.3M | $16.6M | $0 |
| Fidelity SAI Real Estate Income Fund Fidelity Securities Fund | 2026-07-31 | $13.8M | $12.4M | $1.0M |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $12.0M | $12.4M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $11.2M | $11.4M | $175K |
| MFS Corporate Bond Fund MFS Series Trust IX | 2026-07-31 | $10.5M | $10.7M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $10.7M | $10.4M | $155K |
| VANGUARD ULTRA-SHORT BOND ETF VANGUARD BOND INDEX FUNDS | 2026-06-30 | $9.1M | $8.9M | new |
| MOA CORE BOND FUND MoA Funds Corp | 2026-06-30 | $9.2M | $8.8M | $0 |
| JPMorgan Managed Income Fund JPMorgan Trust I | 2026-05-31 | $8.3M | $8.3M | $2.7M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $8.8M | $7.8M | $401K |
| Transamerica Short-Term Bond TRANSAMERICA FUNDS | 2026-07-31 | $7.6M | $7.6M | $0 |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $6.8M | $6.9M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): iShares Investment Grade Systematic Bond ETF ($362K), F/m 3-Year Investment Grade Corporate Bond ETF ($90K), SA T. Rowe Price Allocation Moderately Aggressive Portfolio ($50K).
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 |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 10 | $69.4M | $60.5M | 0.02% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $53.4M | $54.7M | 0.08% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 3 | $36.3M | $36.0M | 0.07% |
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 1 | $20.3M | $20.1M | 0.05% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 4 | $19.0M | $18.8M | 0.03% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 10 | $20.8M | $18.4M | 0.01% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $11.2M | $11.4M | 0.02% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $10.7M | $10.4M | 0.05% |
| VUSB VANGUARD ULTRA-SHORT BOND ETF | 2026-06-30 | 1 | $9.1M | $8.9M | 0.10% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 10 | $8.8M | $7.8M | 0.04% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $6.7M | $6.9M | 0.04% |
| DFSD Dimensional Short-Duration Fixed Income ETF | 2026-07-31 | 1 | $6.3M | $6.2M | 0.09% |
| IBDR iShares iBonds Dec 2026 Term Corporate ETF | 2026-07-31 | 1 | $6.2M | $6.1M | 0.18% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 2 | $6.1M | $6.0M | 0.06% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 2 | $5.3M | $5.5M | 0.05% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 97 bp spread prices in about 1.6% 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
Not available.
The stock side: 13F filings
What institutions report holding in NNN'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 | 67 | $95.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 593 | $8.59B | 6 | $5.0M | 8 | $17.0M | 0 |
| 2026-03-31 | 527 | $6.25B | 7 | $6.0M | 9 | $12.9M | 0 |
| 2025-12-31 | 512 | $6.87B | 6 | $7.9M | 7 | $10.3M | 0 |
| 2025-09-30 | 498 | $7.16B | 4 | $2.8M | 6 | $9.0M | 0 |
| 2025-06-30 | 474 | $7.20B | 5 | $4.3M | 7 | $8.0M | 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.