Polaris Inc. bonds PII
Who owns Polaris 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. PII 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 |
|---|---|---|---|---|---|---|---|---|---|
| 731068AA0 | 6.95% fixed | 2029-03-15 | USD | 104.13 | 5.24% | 100 bp | 9 | $14.8M | Jul 2026 |
| 731068AB8 | 5.6% fixed | 2031-03-01 | USD | 99.33 | 5.77% | 145 bp | 17 | $13.3M | 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 | 2 | $28.1M | 101.73 | 5.50% | 122 bp | 17 |
| Jun 2026 | 2 | $170.4M | 102.45 | 5.30% | 113 bp | 41 |
| May 2026 | 2 | $46.2M | 102.12 | 5.43% | 134 bp | 17 |
| Apr 2026 | 2 | $33.0M | 102.29 | 5.39% | 152 bp | 17 |
| Mar 2026 | 2 | $179.6M | 101.94 | 5.50% | 171 bp | 42 |
| Feb 2026 | 2 | $47.3M | 103.94 | 4.98% | 138 bp | 16 |
| Jan 2026 | 2 | $23.3M | 103.93 | 5.00% | 129 bp | 16 |
| Dec 2025 | 2 | $186.2M | 103.56 | 5.12% | 148 bp | 48 |
| Nov 2025 | 2 | $85.2M | 103.83 | 5.07% | 144 bp | 20 |
| Oct 2025 | 1 | $13.7M | 106.32 | 4.89% | 134 bp | 8 |
| Sep 2025 | 1 | $66.8M | 106.17 | 4.99% | 141 bp | 19 |
| Aug 2025 | 1 | $30.8M | 105.89 | 5.11% | 141 bp | 16 |
| Jul 2025 | 1 | $13.2M | 105.41 | 5.29% | 141 bp | 8 |
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. 18 added, 13 cut, 5 new holders and 9 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Guggenheim Total Return Bond Fund Guggenheim Funds Trust | 2026-06-30 | $32.4M | $33.0M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $30.0M | $30.7M | $0 |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $22.5M | $22.5M | $0 |
| Thornburg Strategic Income Fund THORNBURG INVESTMENT TRUST | 2026-06-30 | $16.5M | $17.0M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $12.2M | $12.4M | $4.8M |
| Guggenheim Limited Duration Fund Guggenheim Funds Trust | 2026-06-30 | $8.7M | $9.1M | $0 |
| EUBEL BRADY & SUTTMAN INCOME FUND Eubel Brady & Suttman Mutual Fund Trust | 2026-07-31 | $8.0M | $8.3M | $0 |
| Thompson Bond Fund Thompson IM Funds, Inc. | 2026-05-31 | $7.2M | $7.6M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $6.6M | $6.8M | $2.8M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $5.8M | $5.8M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $5.6M | $5.8M | $2.0M |
| Thornburg Investment Income Builder Fund THORNBURG INVESTMENT TRUST | 2026-06-30 | $5.0M | $5.2M | $0 |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $5.2M | $5.2M | $0 |
| EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND Eubel Brady & Suttman Mutual Fund Trust | 2026-07-31 | $5.0M | $5.0M | new |
| First Trust Smith Unconstrained Bond ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $4.8M | $4.8M | $0 |
| Weitz Core Plus Income Fund Weitz Funds | 2026-06-30 | $4.7M | $4.7M | $0 |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $3.9M | $4.1M | $431K |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $3.5M | $3.7M | $3.2M |
| Guggenheim Core Bond Fund Guggenheim Funds Trust | 2026-06-30 | $3.6M | $3.6M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $3.5M | $3.6M | $330K |
| Invesco BulletShares 2029 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $3.4M | $3.6M | -$250K |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $2.7M | $2.8M | -$5.3M |
| Payden High Income Fund PAYDEN & RYGEL INVESTMENT GROUP | 2026-07-31 | $2.5M | $2.5M | $0 |
| Invesco BulletShares 2031 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $2.4M | $2.4M | -$207K |
| NVIT Loomis Core Bond Fund Nationwide Variable Insurance Trust | 2026-06-30 | $2.3M | $2.3M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Lord Abbett Short Duration High Yield Fund ($9.6M), VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND ($4.7M), VANGUARD INTERMEDIATE-TERM BOND INDEX FUND ($4.2M), Schwab 5-10 Year Corporate Bond ETF ($2.4M), Fidelity SAI Enhanced Core Bond Fund ($2.0M), State Street(R) SPDR(R) Portfolio Aggregate Bond ETF ($310K), Goldman Sachs Access Investment Grade Corporate Bond ETF ($300K), ALPS | Smith Credit Opportunities Fund ($176K), iShares 5-10 Year Investment Grade Corporate Bond ETF ($150K).
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 |
|---|---|---|---|---|---|
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $12.2M | $12.4M | 0.02% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $6.6M | $6.8M | 0.01% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 1 | $5.8M | $5.8M | 0.00% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $5.6M | $5.8M | 0.03% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $4.8M | $4.8M | 0.15% |
| IBDU iShares iBonds Dec 2029 Term Corporate ETF | 2026-07-31 | 1 | $3.9M | $4.1M | 0.10% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 1 | $3.5M | $3.7M | 0.03% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 2 | $3.5M | $3.6M | 0.00% |
| BSCT Invesco BulletShares 2029 Corporate Bond ETF | 2026-05-31 | 1 | $3.4M | $3.6M | 0.13% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 2 | $2.7M | $2.8M | 0.02% |
| IBDW iShares iBonds Dec 2031 Term Corporate ETF | 2026-07-31 | 1 | $2.1M | $2.1M | 0.08% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $1.7M | $1.8M | 0.00% |
| SIO Touchstone ETF Trust-Touchstone Strategic Income ETF | 2026-06-30 | 1 | $1.7M | $1.7M | 0.64% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $1.4M | $1.4M | 0.01% |
| SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 2026-07-31 | 2 | $770K | $785K | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.87: safer than 36% of companies (34th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $2.95B |
| Debt barrier (short-term + ½ long-term debt) | $993.0M |
| Equity volatility (1 year) | 46.1% |
| Asset value / asset volatility (solved) | $3.90B / 34.9% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 122 bp spread prices in about 2.0% 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 = 1.71 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in PII'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 | 45 | $49.5M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 469 | $3.48B | 15 | $28.7M | 12 | $48.5M | 0 |
| 2026-03-31 | 429 | $2.61B | 12 | $18.7M | 11 | $32.6M | 0 |
| 2025-12-31 | 454 | $3.59B | 18 | $52.2M | 17 | $60.4M | 0 |
| 2025-09-30 | 418 | $3.15B | 19 | $51.4M | 17 | $109.1M | 0 |
| 2025-06-30 | 402 | $2.37B | 18 | $55.7M | 19 | $123.1M | 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.