Organon & Co. bonds OGN
Who owns Organon & Co.'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. OGN 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 |
|---|---|---|---|---|---|---|---|---|---|
| U6835WAC8 | 2.875% fixed | 2028-04-30 | EUR | 99.08 | 3.36% | — | 1 | $582K | Apr 2026 |
| ACI1X1236 | 2.875% fixed | 2028-04-30 | EUR | 98.96 | 3.49% | — | 3 | $1.5M | Jul 2026 |
| 68622TAC5 | 2.875% fixed | 2028-04-30 | EUR | 98.84 | 3.57% | — | 3 | $16.4M | Jul 2026 |
| 68622TAA9 | 4.125% fixed | 2028-04-30 | USD | 98.44 | 5.06% | 89 bp | 39 | $209.2M | Jul 2026 |
| 68622TAB7 | 5.125% fixed | 2031-04-30 | USD | 99.00 | 5.36% | 104 bp | 66 | $224.4M | Jul 2026 |
| 68622FAA9 | 6.75% fixed | 2034-05-15 | USD | 104.42 | 6.03% | 153 bp | 23 | $47.5M | Jul 2026 |
| 68622FAB7 | 7.875% fixed | 2034-05-15 | USD | 106.77 | 6.74% | 224 bp | 25 | $68.6M | Jul 2026 |
| U6836GAB4 | 7.875% fixed | 2034-05-15 | USD | 107.56 | 6.65% | 246 bp | 1 | $245K | Apr 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 | $567.6M | 98.98 | 5.70% | 129 bp | 66 |
| Jun 2026 | 6 | $668.2M | 98.89 | 5.62% | 133 bp | 90 |
| May 2026 | 5 | $425.0M | 99.13 | 5.52% | 126 bp | 52 |
| Apr 2026 | 8 | $596.5M | 99.23 | 5.89% | 170 bp | 67 |
| Mar 2026 | 7 | $589.6M | 96.22 | 9.24% | 525 bp | 82 |
| Feb 2026 | 5 | $458.2M | 97.05 | 7.52% | 367 bp | 62 |
| Jan 2026 | 8 | $545.3M | 97.92 | 7.26% | 345 bp | 69 |
| Dec 2025 | 7 | $592.5M | 97.00 | 8.85% | 498 bp | 86 |
| Nov 2025 | 5 | $486.1M | 90.06 | 8.71% | 487 bp | 62 |
| Oct 2025 | 8 | $481.8M | 92.37 | 10.87% | 718 bp | 73 |
| Sep 2025 | 6 | $585.3M | 96.30 | 7.66% | 380 bp | 87 |
| Aug 2025 | 5 | $374.2M | 94.76 | 7.96% | 396 bp | 57 |
| Jul 2025 | 7 | $515.7M | 94.32 | 8.10% | 408 bp | 71 |
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. 57 added, 48 cut, 23 new holders and 44 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $215.0M | $218.4M | $0 |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $92.5M | $94.8M | $11.2M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $89.0M | $87.9M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $84.0M | $84.2M | $411K |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $67.2M | $66.4M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $62.0M | $62.3M | -$11.5M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $40.3M | $40.6M | $7.3M |
| NYLIM MacKay Short Duration High Income Fund NYLIM FUNDS TRUST | 2026-07-31 | $40.7M | $40.1M | $0 |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $39.3M | $38.7M | $0 |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $35.9M | $37.8M | -$1.5M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $34.2M | $34.2M | $2.8M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $31.8M | $31.5M | $0 |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $28.1M | $27.8M | $2.8M |
| The Merger Fund Merger Fund | 2026-06-30 | $26.4M | $26.1M | new |
| JPMorgan Income Fund JPMorgan Trust I | 2026-05-31 | $23.7M | $23.5M | $400K |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $21.0M | $20.7M | $0 |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $20.0M | $19.8M | -$4.7M |
| Nuveen High Yield Fund TIAA-CREF Funds | 2026-06-30 | $19.3M | $19.6M | $0 |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $19.1M | $18.9M | $0 |
| AB HIGH INCOME FUND INC | 2026-07-31 | $18.4M | $18.2M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $18.0M | $17.7M | -$1.2M |
| Franklin Templeton SMACS Series I Franklin Strategic Series | 2026-05-31 | $15.5M | $16.2M | $2.5M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $16.4M | $16.2M | $3.1M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $15.0M | $14.8M | $0 |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $14.1M | $14.2M | -$1.1M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): High Yield Bond Series ($29.7M), Lord Abbett Short Duration High Yield Fund ($27.5M), Lord Abbett High Yield Fund ($10.8M), Columbia Flexible Capital Income Fund ($6.5M), T. Rowe Price Dynamic Credit Fund ($5.7M), TRI-CONTINENTAL Corp ($5.2M), Invesco Floating Rate ESG Fund ($4.5M), Unconstrained Bond Series ($4.5M), T. Rowe Price Global High Income Bond Fund ($4.0M), Fidelity High Income Fund ($4.0M).
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 |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 4 | $84.0M | $84.2M | 0.29% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 4 | $62.0M | $62.3M | 0.39% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 4 | $40.3M | $40.6M | 0.36% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $18.0M | $17.7M | 0.23% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $16.4M | $16.2M | 0.33% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 4 | $14.1M | $14.2M | 0.41% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 3 | $13.0M | $13.7M | 0.19% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $11.5M | $11.4M | 1.64% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 3 | $10.5M | $10.7M | 0.48% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 4 | $9.3M | $9.3M | 0.39% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 4 | $8.1M | $8.2M | 0.33% |
| UBND VictoryShares Core Plus Bond ETF | 2026-06-30 | 2 | $7.4M | $7.7M | 0.40% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 2 | $7.3M | $7.2M | 0.08% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $6.8M | $6.7M | 1.47% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 4 | $5.7M | $5.7M | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.98: safer than 14% of companies (16th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $3.61B |
| Debt barrier (short-term + ½ long-term debt) | $4.31B |
| Equity volatility (1 year) | 62.4% |
| Asset value / asset volatility (solved) | $7.73B / 29.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 129 bp spread prices in about 2.1% 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 = 1.25 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in OGN'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 | 71 | $4.9M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 616 | $2.86B | 18 | $76.0M | 20 | $61.8M | 1 |
| 2026-03-31 | 581 | $959.9M | 12 | $22.4M | 16 | $19.2M | 0 |
| 2025-12-31 | 606 | $1.40B | 14 | $28.5M | 18 | $22.0M | 1 |
| 2025-09-30 | 649 | $2.11B | 13 | $33.8M | 17 | $32.1M | 1 |
| 2025-06-30 | 669 | $2.07B | 15 | $19.0M | 13 | $30.5M | 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.