PPG Industries, Inc. bonds PPG
Who owns PPG Industries, 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. PPG 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 |
|---|---|---|---|---|---|---|---|---|---|
| 693506BP1 | 3.75% fixed | 2028-03-15 | USD | 98.69 | 4.59% | 44 bp | 12 | $30.2M | Jul 2026 |
| 693506BW6 | 2.75% fixed | 2029-06-01 | EUR | 98.45 | 3.33% | — | 4 | $8.5M | Jul 2026 |
| 693506BR7 | 2.8% fixed | 2029-08-15 | USD | 94.39 | 4.81% | 54 bp | 8 | $4.1M | Jul 2026 |
| 693506BS5 | 2.55% fixed | 2030-06-15 | USD | 91.68 | 4.93% | 64 bp | 6 | $11.2M | Jul 2026 |
| 693506BY2 | 4.375% fixed | 2031-03-15 | USD | 97.43 | 5.00% | 69 bp | 14 | $63.7M | Jul 2026 |
| 693506BX4 | 3.25% fixed | 2032-03-04 | EUR | 97.00 | 3.85% | — | 6 | $16.3M | Jul 2026 |
| 693506BE6 | 5.5% fixed | 2040-11-15 | USD | 96.15 | 5.90% | 108 bp | 2 | $1.4M | 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 | 7 | $135.5M | 97.00 | 4.93% | 64 bp | 14 |
| Jun 2026 | 5 | $83.2M | 98.32 | 4.62% | 47 bp | 27 |
| May 2026 | 5 | $85.4M | 98.56 | 4.59% | 54 bp | 17 |
| Apr 2026 | 7 | $137.1M | 98.38 | 4.49% | 65 bp | 14 |
| Mar 2026 | 5 | $81.4M | 98.57 | 4.40% | 62 bp | 27 |
| Feb 2026 | 6 | $107.0M | 99.87 | 4.07% | 45 bp | 18 |
| Jan 2026 | 8 | $157.9M | 99.34 | 4.18% | 49 bp | 16 |
| Dec 2025 | 6 | $102.8M | 99.61 | 4.20% | 57 bp | 29 |
| Nov 2025 | 6 | $107.1M | 99.44 | 4.23% | 58 bp | 18 |
| Oct 2025 | 8 | $148.2M | 99.06 | 4.25% | 65 bp | 14 |
| Sep 2025 | 5 | $39.3M | 98.63 | 4.16% | 56 bp | 13 |
| Aug 2025 | 5 | $67.0M | 98.33 | 4.28% | 53 bp | 18 |
| Jul 2025 | 8 | $58.0M | 98.45 | 4.58% | 66 bp | 10 |
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. 27 added, 15 cut, 7 new holders and 13 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $47.7M | $46.4M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $30.2M | $29.8M | $9.9M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $26.3M | $25.6M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $21.8M | $21.0M | $0 |
| Dimensional Ultrashort Fixed Income ETF Dimensional ETF Trust | 2026-07-31 | $18.9M | $18.6M | new |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $13.0M | $12.8M | $11.5M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $12.5M | $12.2M | $3.5M |
| Dimensional Short-Duration Fixed Income ETF Dimensional ETF Trust | 2026-07-31 | $11.9M | $11.7M | $8.6M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $11.6M | $11.3M | $190K |
| Intermediate Bond Fund of America | 2026-05-31 | $9.5M | $9.4M | -$455K |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $8.3M | $9.3M | $0 |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $7.9M | $8.9M | $0 |
| DFA Investment Grade Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $7.9M | $7.2M | $0 |
| Invesco BulletShares 2028 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $6.5M | $6.5M | $23K |
| Brown Advisory Sustainable Bond Fund Brown Advisory Funds | 2026-06-30 | $5.6M | $5.5M | $0 |
| iShares iBonds Dec 2028 Term Corporate ETF iShares Trust | 2026-07-31 | $5.2M | $5.1M | $122K |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $4.7M | $4.6M | $190K |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.5M | $4.4M | -$66K |
| iShares iBonds Dec 2031 Term Corporate ETF iShares Trust | 2026-07-31 | $4.0M | $3.9M | $169K |
| iShares ESG Aware 1-5 Year USD Corporate Bond ETF iShares Trust | 2026-05-31 | $3.6M | $3.4M | $485K |
| Invesco BulletShares 2031 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $3.4M | $3.3M | -$290K |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $2.9M | $2.8M | $368K |
| DFA Global Core Plus Fixed Income Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $2.3M | $2.6M | $0 |
| DFA Short-Duration Real Return Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $2.4M | $2.3M | new |
| SHORT-TERM INVESTMENT-GRADE PORTFOLIO VANGUARD VARIABLE INSURANCE FUNDS | 2026-06-30 | $2.3M | $2.3M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND ($25.0M), VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND ($20.4M), Invesco BulletShares 2026 Corporate Bond ETF ($7.3M), VANGUARD INTERMEDIATE-TERM BOND INDEX FUND ($6.6M), Dimensional International Core Fixed Income ETF ($4.7M), Fidelity Series Bond Index Fund ($3.6M), Schwab 5-10 Year Corporate Bond ETF ($3.2M), Multi-Manager Total Return Bond Strategies Fund ($1.6M), JPMorgan Ultra-Short Income ETF ($770K), Fidelity Short-Term Bond Index Fund ($330K).
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 | $30.2M | $29.8M | 0.06% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 2 | $21.8M | $21.0M | 0.01% |
| DUSB Dimensional Ultrashort Fixed Income ETF | 2026-07-31 | 1 | $18.9M | $18.6M | 0.84% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $13.0M | $12.8M | 0.02% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $12.5M | $12.2M | 0.06% |
| DFSD Dimensional Short-Duration Fixed Income ETF | 2026-07-31 | 4 | $11.9M | $11.7M | 0.16% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 4 | $11.6M | $11.3M | 0.01% |
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 2 | $7.9M | $8.9M | 0.01% |
| BSCS Invesco BulletShares 2028 Corporate Bond ETF | 2026-05-31 | 1 | $6.5M | $6.5M | 0.19% |
| IBDT iShares iBonds Dec 2028 Term Corporate ETF | 2026-07-31 | 1 | $5.2M | $5.1M | 0.13% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $4.7M | $4.6M | 0.03% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 4 | $4.5M | $4.4M | 0.04% |
| IBDW iShares iBonds Dec 2031 Term Corporate ETF | 2026-07-31 | 1 | $4.0M | $3.9M | 0.15% |
| SUSB iShares ESG Aware 1-5 Year USD Corporate Bond ETF | 2026-05-31 | 3 | $3.6M | $3.4M | 0.28% |
| IBDU iShares iBonds Dec 2029 Term Corporate ETF | 2026-07-31 | 1 | $2.9M | $2.8M | 0.07% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 7.58: safer than 70% of companies (75th percentile in Basic Materials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $23.95B |
| Debt barrier (short-term + ½ long-term debt) | $3.79B |
| Equity volatility (1 year) | 30.3% |
| Asset value / asset volatility (solved) | $27.58B / 26.3% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 64 bp spread prices in about 1.1% 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 = 3.71 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in PPG'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 | 144 | $183.0M | 1 | $209K | 1 | $52K | 0 |
| 2026-06-30 | 1,082 | $23.98B | 17 | $34.3M | 18 | $184.5M | 1 |
| 2026-03-31 | 1,029 | $17.66B | 16 | $52.6M | 21 | $204.4M | 1 |
| 2025-12-31 | 976 | $19.41B | 16 | $53.4M | 22 | $172.1M | 0 |
| 2025-09-30 | 991 | $19.48B | 21 | $80.1M | 23 | $175.0M | 0 |
| 2025-06-30 | 1,009 | $21.59B | 20 | $75.6M | 21 | $180.1M | 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.