PepsiCo, Inc. bonds PEP
Who owns PepsiCo, 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. PEP 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 |
|---|---|---|---|---|---|---|---|---|---|
| 713448EE4 | 7.29% fixed | 2026-09-15 | USD | 100.50 | 4.78% | 112 bp | 2 | $2.8M | Jun 2026 |
| 713448DN5 | 2.38% fixed | 2026-10-06 | USD | 99.69 | 4.08% | 35 bp | 2 | $15.1M | Jul 2026 |
| 713448FW3 | 5.125% fixed | 2026-11-10 | USD | 100.14 | 4.57% | 83 bp | 2 | $10.5M | Jul 2026 |
| 713448GD4 | 4.4% fixed | 2027-02-07 | USD | 100.08 | 4.24% | 39 bp | 2 | $3.9M | Jul 2026 |
| 713448ER5 | 2.625% fixed | 2027-03-19 | USD | 99.02 | 4.20% | 30 bp | 3 | $3.8M | Jul 2026 |
| 713448DY1 | 3% fixed | 2027-10-15 | USD | 98.49 | 4.30% | 21 bp | 9 | $14.5M | Jul 2026 |
| 713448GA0 | 4.45% fixed | 2028-02-07 | USD | 100.09 | 4.39% | 25 bp | 9 | $8.6M | Jul 2026 |
| 713448FL7 | 3.6% fixed | 2028-02-18 | USD | 98.86 | 4.37% | 22 bp | 9 | $8.7M | Jul 2026 |
| 713448EX2 | 0.5% fixed | 2028-05-06 | EUR | 95.65 | 3.07% | — | 2 | $13.0M | Jul 2026 |
| 713448FR4 | 4.45% fixed | 2028-05-15 | USD | 100.07 | 4.40% | 22 bp | 12 | $8.6M | Jul 2026 |
| 713448DH8 | 0.875% fixed | 2028-07-18 | EUR | 95.68 | 3.18% | — | 2 | $4.0M | Jul 2026 |
| 713448GL6 | 4.1% fixed | 2029-01-15 | USD | 99.11 | 4.49% | 25 bp | 11 | $19.2M | Jul 2026 |
| 713466AB6 | 4.55% fixed | 2029-02-16 | USD | 99.99 | 4.55% | 31 bp | 6 | $5.4M | Jul 2026 |
| 713448EG9 | 7% fixed | 2029-03-01 | USD | 106.12 | 4.47% | 22 bp | 8 | $6.9M | Jul 2026 |
| 713448FX1 | 4.5% fixed | 2029-07-17 | USD | 99.95 | 4.52% | 26 bp | 8 | $11.6M | Jul 2026 |
| 713448EL8 | 2.63% fixed | 2029-07-29 | USD | 94.76 | 4.52% | 26 bp | 14 | $14.7M | Jul 2026 |
| 713448GB8 | 4.6% fixed | 2030-02-07 | USD | 100.04 | 4.59% | 31 bp | 9 | $7.2M | Jul 2026 |
| 713448ES3 | 2.75% fixed | 2030-03-19 | USD | 93.57 | 4.69% | 41 bp | 10 | $13.0M | Jul 2026 |
| 713448EZ7 | 1.625% fixed | 2030-05-01 | USD | 89.58 | 4.69% | 40 bp | 9 | $9.7M | Jul 2026 |
| 713448GH5 | 4.3% fixed | 2030-07-23 | USD | 99.15 | 4.54% | 24 bp | 6 | $5.0M | Jul 2026 |
| 713448FA1 | 1.4% fixed | 2031-02-25 | USD | 86.52 | 4.71% | 40 bp | 8 | $8.7M | Jul 2026 |
| 713448EK0 | 1.125% fixed | 2031-03-18 | EUR | 90.33 | 3.42% | — | 3 | $2.5M | Jul 2026 |
| 713448FE3 | 1.95% fixed | 2031-10-21 | USD | 87.09 | 4.77% | 43 bp | 8 | $13.6M | Jul 2026 |
| 713448FM5 | 3.9% fixed | 2032-07-18 | USD | 95.70 | 4.74% | 34 bp | 7 | $13.3M | Jul 2026 |
| 713448GJ1 | 4.65% fixed | 2032-07-23 | USD | 99.35 | 4.78% | 38 bp | 10 | $8.5M | Jul 2026 |
| 713448FC7 | 0.4% fixed | 2032-10-09 | EUR | 82.52 | 3.60% | — | 3 | $11.8M | Jul 2026 |
| 713448FS2 | 4.45% fixed | 2033-02-15 | USD | 97.83 | 4.84% | 41 bp | 4 | $5.0M | Jul 2026 |
| 713448FH6 | 0.75% fixed | 2033-10-14 | EUR | 81.90 | 3.65% | — | 2 | $6.4M | Jul 2026 |
| XS3291117417 | 3.3% fixed | 2034-02-11 | EUR | 97.22 | 3.73% | — | 1 | $224K | Jul 2026 |
| 713448FY9 | 4.8% fixed | 2034-07-17 | USD | 98.75 | 4.99% | 49 bp | 6 | $3.9M | Jul 2026 |
| 713448FK9 | 3.55% fixed | 2034-07-22 | GBP | 89.68 | 5.14% | — | 2 | $725K | Jul 2026 |
| 713448GC6 | 5% fixed | 2035-02-07 | USD | 98.79 | 5.18% | 65 bp | 12 | $3.8M | Jul 2026 |
| 713448GK8 | 5% fixed | 2035-07-23 | USD | 98.65 | 5.19% | 64 bp | 12 | $5.0M | Jul 2026 |
| 713448GE2 | 3.45% fixed | 2037-07-28 | EUR | 95.19 | 4.00% | — | 3 | $11.3M | Jul 2026 |
| XS3291117680 | 3.7% fixed | 2038-02-11 | EUR | 96.40 | 4.10% | — | 2 | $222K | Jul 2026 |
| 713448EN4 | 0.875% fixed | 2039-10-16 | EUR | 67.47 | 4.12% | — | 2 | $7.7M | Jul 2026 |
| 713448BP2 | 5.5% fixed | 2040-01-15 | USD | 99.91 | 5.51% | 73 bp | 4 | $6.5M | Jul 2026 |
| 713448ET1 | 3.5% fixed | 2040-03-19 | USD | 80.68 | 5.54% | 75 bp | 4 | $866K | Jul 2026 |
| 713448BS6 | 4.88% fixed | 2040-11-01 | USD | 93.35 | 5.56% | 74 bp | 3 | $1.1M | Jul 2026 |
| 713448FF0 | 2.63% fixed | 2041-10-21 | USD | 69.36 | 5.66% | 79 bp | 6 | $2.5M | Jul 2026 |
| 713448BZ0 | 4% fixed | 2042-03-05 | USD | 81.99 | 5.77% | 88 bp | 2 | $844K | Jul 2026 |
| 713448CC0 | 3.6% fixed | 2042-08-13 | USD | 77.24 | 5.80% | 89 bp | 4 | $656K | Jul 2026 |
| 713448CQ9 | 4.25% fixed | 2044-10-22 | USD | 82.87 | 5.78% | 76 bp | 2 | $588K | Jul 2026 |
| 713448CZ9 | 4.6% fixed | 2045-07-17 | USD | 89.30 | 5.51% | 60 bp | 1 | $600K | Jun 2026 |
| 713448DD7 | 4.45% fixed | 2046-04-14 | USD | 83.72 | 5.85% | 76 bp | 6 | $4.5M | Jul 2026 |
| 713448DP0 | 3.45% fixed | 2046-10-06 | USD | 71.29 | 5.90% | 79 bp | 6 | $1.7M | Jul 2026 |
| 713448GR3 | 4.15% fixed | 2047-02-11 | EUR | 95.11 | 4.52% | — | 4 | $16.7M | Jul 2026 |
| 713448DV7 | 4% fixed | 2047-05-02 | USD | 77.42 | 5.90% | 79 bp | 3 | $1.0M | Jul 2026 |
| 713448EM6 | 3.38% fixed | 2049-07-29 | USD | 68.03 | 5.95% | 84 bp | 5 | $1.6M | Jul 2026 |
| 713448EP9 | 2.875% fixed | 2049-10-15 | USD | 62.42 | 5.86% | 75 bp | 8 | $5.5M | Jul 2026 |
| 713448EU8 | 3.625% fixed | 2050-03-19 | USD | 71.06 | 5.91% | 81 bp | 4 | $1.9M | Jul 2026 |
| 713448FD5 | 1.05% fixed | 2050-10-09 | EUR | 50.43 | 4.43% | — | 3 | $2.6M | Jul 2026 |
| 713448FG8 | 2.75% fixed | 2051-10-21 | USD | 59.04 | 5.89% | 78 bp | 7 | $4.3M | Jul 2026 |
| 713448FN3 | 4.2% fixed | 2052-07-18 | USD | 77.90 | 5.87% | 76 bp | 6 | $997K | Jul 2026 |
| 713448FT0 | 4.65% fixed | 2053-02-15 | USD | 83.70 | 5.87% | 77 bp | 5 | $10.0M | Jul 2026 |
| 713448FZ6 | 5.25% fixed | 2054-07-17 | USD | 92.00 | 5.83% | 73 bp | 8 | $2.8M | Jul 2026 |
| 713448GG7 | 4.05% fixed | 2055-07-28 | EUR | 90.67 | 4.64% | — | 1 | $209K | Jul 2026 |
| 713448EV6 | 3.875% fixed | 2060-03-19 | USD | 71.09 | 5.85% | 75 bp | 5 | $1.2M | 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 | 56 | $354.2M | 94.17 | 5.08% | 56 bp | 14 |
| Jun 2026 | 52 | $1.13B | 96.23 | 4.90% | 48 bp | 25 |
| May 2026 | 46 | $1.28B | 96.14 | 4.86% | 45 bp | 22 |
| Apr 2026 | 55 | $351.9M | 95.31 | 4.80% | 58 bp | 13 |
| Mar 2026 | 49 | $1.10B | 95.16 | 4.84% | 66 bp | 27 |
| Feb 2026 | 46 | $1.33B | 99.02 | 4.41% | 37 bp | 22 |
| Jan 2026 | 57 | $409.1M | 96.19 | 4.43% | 41 bp | 14 |
| Dec 2025 | 53 | $1.16B | 97.50 | 4.49% | 46 bp | 31 |
| Nov 2025 | 47 | $1.32B | 98.77 | 4.41% | 39 bp | 24 |
| Oct 2025 | 58 | $427.9M | 98.03 | 4.29% | 49 bp | 19 |
| Sep 2025 | 53 | $1.29B | 97.82 | 4.39% | 54 bp | 32 |
| Aug 2025 | 48 | $1.40B | 97.60 | 4.45% | 46 bp | 23 |
| Jul 2025 | 59 | $472.3M | 95.56 | 4.66% | 50 bp | 20 |
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. 76 added, 56 cut, 14 new holders and 13 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $357.4M | $319.8M | $490K |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $348.8M | $303.9M | $12.1M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $258.7M | $251.3M | -$1.1M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $198.1M | $192.1M | $1.6M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $141.9M | $129.1M | -$6.4M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $138.6M | $123.1M | -$22.8M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $93.9M | $86.0M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $67.3M | $66.1M | -$3.1M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $67.5M | $65.3M | $1.0M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $64.0M | $62.8M | $2.4M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $58.8M | $53.4M | $1.6M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $53.5M | $52.3M | -$1.2M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $40.3M | $39.4M | $4.3M |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $38.3M | $38.4M | $573K |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $37.0M | $36.4M | $1.8M |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $37.5M | $35.2M | $0 |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $45.5M | $35.1M | $5.4M |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $39.1M | $34.7M | $6.2M |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $31.1M | $29.5M | $0 |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $29.3M | $28.6M | $0 |
| Invesco BulletShares 2026 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $28.1M | $28.1M | $7.9M |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $27.6M | $27.3M | $1.9M |
| PGIM Ultra Short Bond ETF PGIM ETF Trust | 2026-05-29 | $26.0M | $26.1M | $0 |
| Nuveen Core Impact Bond Fund TIAA-CREF Funds | 2026-06-30 | $32.8M | $25.4M | $0 |
| Invesco BulletShares 2027 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $25.4M | $25.2M | $378K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): BlackRock Systematic Multi-Strategy Fund ($5.1M), Federated Hermes Corporate Bond Fund ($4.1M), SIIT CORE FIXED INCOME FUND ($3.2M), iShares ESG Aware U.S. Aggregate Bond ETF ($3.1M), Columbia Select Corporate Income Fund ($2.6M), Core Bond Fund ($1.9M), Invesco Multi-Asset Income Fund ($510K), Thrivent Ultra Short Bond ETF ($500K), Advantage CoreAlpha Bond Master Portfolio ($365K), Fidelity Environmental Bond Fund ($100K).
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 | 29 | $348.8M | $303.9M | 0.08% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 8 | $258.7M | $251.3M | 0.37% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 12 | $198.1M | $192.1M | 0.38% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 39 | $141.9M | $129.1M | 0.09% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 19 | $138.6M | $123.1M | 0.41% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 14 | $67.3M | $66.1M | 0.30% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 7 | $67.5M | $65.3M | 0.12% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 13 | $64.0M | $62.8M | 0.09% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 40 | $58.8M | $53.4M | 0.31% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 7 | $53.5M | $52.3M | 0.29% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 7 | $40.3M | $39.4M | 0.34% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 7 | $38.3M | $38.4M | 0.36% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 20 | $37.0M | $36.4M | 0.31% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 16 | $45.5M | $35.1M | 0.38% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 39 | $39.1M | $34.7M | 0.08% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 10.88: safer than 84% of companies (75th percentile in Consumer Defensive). Market-implied, prices to 2026-10-16, balance sheet 2026-09-05.
| Equity value | $182.12B |
| Debt barrier (short-term + ½ long-term debt) | $30.55B |
| Equity volatility (1 year) | 20.9% |
| Asset value / asset volatility (solved) | $211.40B / 18.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 56 bp spread prices in about 0.9% 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 = 3.45 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in PEP'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 | 630 | $2.87B | 2 | $15.3M | 2 | $1.1M | 0 |
| 2026-06-30 | 3,409 | $141.44B | 47 | $1.51B | 54 | $2.68B | 0 |
| 2026-03-31 | 3,548 | $135.10B | 56 | $1.93B | 44 | $2.48B | 1 |
| 2025-12-31 | 3,499 | $148.23B | 49 | $2.21B | 50 | $3.37B | 0 |
| 2025-09-30 | 3,306 | $139.86B | 52 | $3.76B | 50 | $2.54B | 0 |
| 2025-06-30 | 3,309 | $134.15B | 58 | $2.47B | 52 | $2.63B | 0 |
Officials trading PEP bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2025-06-09 | William R. Keating | sale | PepsiCo Inc | $1,001 - $15,000 | filing |
| 2025-06-08 | William R. Keating | sale full | PEPSICO INC NOTE CALL MAKE WHOLE 3.90000% 07/18/2032 | $1,001 - $15,000 | filing |
| 2024-10-25 | Julia Letlow | purchase | Pepsico Inc. | $1,001 - $15,000 | filing |
| 2024-10-24 | Julia Letlow | purchase | Pepsico Inc. | $1,001 - $15,000 | filing |
| 2023-08-10 | William R. Keating | purchase | PepsiCo Inc | $15,001 - $50,000 | filing |
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.