ON Semiconductor Corporation bonds ON
Who owns ON Semiconductor Corporation'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. ON 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 |
|---|---|---|---|---|---|---|---|---|---|
| 682189AS4 convertible | 0% none | 2027-05-01 | USD | 159.17 | — | — | 12 | $90.3M | Jul 2026 |
| 682189AQ8 | 3.875% fixed | 2028-09-01 | USD | 96.49 | 5.68% | 146 bp | 35 | $69.4M | Jul 2026 |
| 682189AU9 convertible | 0.5% fixed | 2029-03-01 | USD | 113.21 | — | — | 29 | $237.6M | Jul 2026 |
| 682189AV7 convertible | 0% none | 2031-05-01 | USD | 93.52 | — | — | 27 | $80.2M | 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 | 4 | $477.6M | 104.85 | 5.68% | 146 bp | 35 |
| Jun 2026 | 4 | $344.2M | 110.06 | 5.13% | 102 bp | 40 |
| May 2026 | 4 | $178.6M | 121.96 | 5.03% | 102 bp | 43 |
| Apr 2026 | 3 | $506.8M | 121.78 | 5.03% | 123 bp | 35 |
| Mar 2026 | 3 | $267.3M | 97.92 | 5.43% | 172 bp | 36 |
| Feb 2026 | 3 | $137.3M | 100.46 | 4.77% | 128 bp | 41 |
| Jan 2026 | 3 | $338.3M | 98.02 | 4.70% | 112 bp | 35 |
| Dec 2025 | 3 | $259.5M | 98.00 | 4.68% | 114 bp | 36 |
| Nov 2025 | 3 | $121.8M | 97.50 | 4.86% | 130 bp | 39 |
| Oct 2025 | 3 | $297.7M | 97.40 | 4.87% | 134 bp | 34 |
| Sep 2025 | 3 | $279.5M | 97.12 | 4.95% | 140 bp | 39 |
| Aug 2025 | 3 | $142.6M | 97.18 | 4.90% | 122 bp | 41 |
| Jul 2025 | 3 | $328.5M | 96.64 | 5.06% | 122 bp | 35 |
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. 60 added, 62 cut, 37 new holders and 10 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $92.5M | $112.9M | $17.5M |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $80.0M | $92.1M | $40.4M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $55.5M | $69.7M | $26.4M |
| Equity Income Fund American Century Capital Portfolios, Inc. | 2026-06-30 | $33.6M | $40.6M | -$39.6M |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $21.3M | $31.1M | $743K |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $27.1M | $29.7M | new |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $26.2M | $28.7M | new |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $21.6M | $25.0M | $4.7M |
| CALAMOS STRATEGIC TOTAL RETURN FUND | 2026-07-31 | $19.2M | $21.5M | -$22.2M |
| NYLIM MacKay Convertible Fund NYLIM FUNDS | 2026-07-31 | $15.2M | $20.5M | -$4.0M |
| CALAMOS CONVERTIBLE & HIGH INCOME FUND | 2026-07-31 | $17.0M | $19.1M | -$2.2M |
| Calamos Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $16.5M | $18.7M | -$2.2M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $18.8M | $18.4M | $248K |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $16.5M | $17.9M | new |
| CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND | 2026-07-31 | $15.7M | $17.7M | -$2.2M |
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $15.2M | $17.7M | $3.0M |
| NYLIM VP MacKay Convertible Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $10.7M | $16.2M | -$2.8M |
| Calamos Growth & Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $13.7M | $15.6M | -$17.4M |
| Calamos Dynamic Convertible & Income Fund | 2026-07-31 | $13.2M | $14.9M | -$2.0M |
| JPMorgan Global Bond Opportunities Fund JPMorgan Trust I | 2026-05-31 | $8.0M | $14.7M | -$1.2M |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $13.8M | $14.4M | $11.8M |
| Fidelity Advisor Multi-Asset Income Fund Fidelity School Street Trust | 2026-06-30 | $7.0M | $12.7M | $320K |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $13.0M | $12.7M | $0 |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $8.3M | $12.2M | -$44K |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $12.4M | $12.0M | -$528K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): AQR Diversified Arbitrage Fund ($22.5M), Miller Convertible Bond Fund ($8.3M), Defensive Market Strategies Fund ($3.2M), Miller Intermediate Bond Fund ($3.0M), Calamos Global Opportunities Fund ($1.5M), Palmer Square Income Plus Fund ($628K), Palmer Square Credit Opportunities ETF ($561K), Advent Convertible Bond ETF ($367K), Wellington Global Multi-Strategy Fund ($70K), John Hancock Diversified Income Fund ($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 |
|---|---|---|---|---|---|
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 3 | $80.0M | $92.1M | 1.28% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 3 | $55.5M | $69.7M | 1.12% |
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $12.4M | $12.0M | 0.04% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $6.2M | $6.0M | 0.08% |
| JFLX JPMorgan Flexible Debt ETF | 2026-05-31 | 3 | $1.9M | $4.1M | 0.30% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $4.1M | $4.0M | 0.04% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $3.8M | $3.7M | 0.54% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $3.0M | $2.9M | 0.06% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $2.7M | $2.6M | 0.15% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 2 | $1.8M | $2.6M | 0.01% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $2.2M | $2.1M | 0.46% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 1 | $2.1M | $2.0M | 0.06% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 1 | $1.7M | $1.7M | 0.02% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.6M | $1.6M | 0.06% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $1.4M | $1.5M | 1.52% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.02: safer than 38% of companies (35th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-07-03.
| Equity value | $28.50B |
| Debt barrier (short-term + ½ long-term debt) | $2.63B |
| Equity volatility (1 year) | 63.4% |
| Asset value / asset volatility (solved) | $31.02B / 58.3% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 146 bp spread prices in about 2.4% 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 = 4.72 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ON'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 | 111 | $376.0M | 1 | $22.9M | 2 | $715K | 4 |
| 2026-06-30 | 989 | $36.99B | 45 | $5.22B | 48 | $7.43B | 98 |
| 2026-03-31 | 813 | $20.72B | 40 | $3.32B | 40 | $5.93B | 96 |
| 2025-12-31 | 787 | $23.05B | 41 | $4.13B | 41 | $3.99B | 89 |
| 2025-09-30 | 761 | $20.71B | 42 | $3.06B | 40 | $2.27B | 88 |
| 2025-06-30 | 789 | $22.39B | 39 | $5.75B | 37 | $3.89B | 89 |
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.