Snap Inc. bonds SNAP
Who owns Snap 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. SNAP 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 |
|---|---|---|---|---|---|---|---|---|---|
| 83304AAB2 convertible | 0.75% fixed | 2026-08-01 | USD | 99.02 | — | — | 2 | $351K | Jul 2026 |
| 83304AAF3 convertible | 0% none | 2027-05-01 | USD | 96.36 | — | — | 2 | $1.2M | Jul 2026 |
| 83304AAH9 convertible | 0.125% fixed | 2028-03-01 | USD | 92.16 | — | — | 5 | $10.4M | Jul 2026 |
| 83304AAK2 convertible | 0.5% fixed | 2030-05-01 | USD | 82.33 | — | — | 7 | $23.0M | Jul 2026 |
| 83304AAL0 | 6.875% fixed | 2033-03-01 | USD | 97.71 | 7.32% | 288 bp | 54 | $150.6M | Jul 2026 |
| 83304AAM8 | 6.875% fixed | 2034-03-15 | USD | 96.92 | 7.41% | 292 bp | 38 | $42.8M | 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 | 6 | $228.3M | 96.64 | 7.36% | 290 bp | 54 |
| Jun 2026 | 4 | $452.1M | 94.62 | 7.38% | 305 bp | 108 |
| May 2026 | 5 | $192.2M | 98.46 | 7.08% | 276 bp | 55 |
| Apr 2026 | 6 | $295.0M | 95.58 | 7.39% | 325 bp | 56 |
| Mar 2026 | 4 | $459.1M | 92.67 | 7.90% | 383 bp | 111 |
| Feb 2026 | 5 | $176.6M | 96.43 | 6.94% | 301 bp | 54 |
| Jan 2026 | 6 | $342.8M | 96.07 | 6.47% | 243 bp | 58 |
| Dec 2025 | 4 | $500.6M | 96.96 | 6.31% | 236 bp | 100 |
| Nov 2025 | 5 | $198.9M | 96.50 | 6.42% | 250 bp | 56 |
| Oct 2025 | 6 | $340.7M | 94.54 | 6.53% | 263 bp | 62 |
| Sep 2025 | 5 | $487.7M | 95.41 | 6.57% | 263 bp | 107 |
| Aug 2025 | 5 | $207.4M | 96.51 | 6.76% | 267 bp | 61 |
| Jul 2025 | 5 | $340.7M | 91.08 | 6.44% | 224 bp | 66 |
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. 85 added, 67 cut, 7 new holders and 19 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $41.5M | $40.4M | $4.1M |
| American High Income Trust | 2026-06-30 | $41.4M | $40.4M | $0 |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $38.0M | $37.1M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $37.9M | $36.9M | -$4.7M |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $34.1M | $33.2M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $33.2M | $32.2M | -$5.2M |
| Income Fund of America | 2026-07-31 | $32.2M | $31.5M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $30.1M | $29.7M | $144K |
| Invesco Equity and Income Fund AIM Counselor Series Trust (Invesco Counselor Series Trust) | 2026-05-31 | $34.6M | $29.0M | $0 |
| BrandywineGLOBAL - HIGH YIELD FUND Legg Mason Partners Investment Trust | 2026-06-30 | $31.2M | $28.2M | -$2.5M |
| MFS Income Fund MFS Series Trust VIII | 2026-07-31 | $26.3M | $25.7M | $0 |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $26.1M | $22.5M | $4.7M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $20.2M | $20.0M | $0 |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $19.5M | $18.3M | $250K |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $17.0M | $16.5M | $3.8M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $18.2M | $15.8M | $2.4M |
| Capital Group U.S. Multi-Sector Income ETF Capital Group Fixed Income ETF Trust | 2026-06-30 | $15.3M | $15.0M | $3.8M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $15.4M | $14.9M | $3.0M |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $14.8M | $14.7M | $11.6M |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $12.4M | $12.1M | -$1.0M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $11.1M | $10.8M | $2.2M |
| Columbia Strategic Income Fund COLUMBIA FUNDS SERIES TRUST I | 2026-05-31 | $9.2M | $9.1M | -$2.3M |
| JPMorgan Strategic Income Opportunities Fund JPMorgan Trust I | 2026-05-31 | $9.8M | $9.0M | $3.7M |
| Goldman Sachs Income Builder Fund GOLDMAN SACHS TRUST | 2026-07-31 | $9.1M | $8.8M | $3.6M |
| Capital Group Core Plus Income ETF Capital Group Fixed Income ETF Trust | 2026-06-30 | $8.6M | $8.4M | $2.5M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Franklin Convertible Securities Fund ($28.0M), CALAMOS CONVERTIBLE & HIGH INCOME FUND ($17.5M), CALAMOS CONVERTIBLE OPPORTUNITIES & INCOME FUND ($16.2M), Calamos Dynamic Convertible & Income Fund ($14.0M), Calvert Income Fund ($2.9M), Calvert High Yield Bond Fund ($2.6M), Eaton Vance Ltd Duration Income Fund ($2.0M), Calvert Flexible Bond Fund ($1.7M), DWS High Income Fund ($1.0M), MFS MULTIMARKET INCOME TRUST ($587K).
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 | 2 | $41.5M | $40.4M | 0.14% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $30.1M | $29.7M | 0.18% |
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 2 | $26.1M | $22.5M | 0.31% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 2 | $18.2M | $15.8M | 0.26% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 1 | $15.3M | $15.0M | 0.29% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $15.4M | $14.9M | 0.20% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 2 | $14.8M | $14.7M | 0.90% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $11.1M | $10.8M | 0.10% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 1 | $8.6M | $8.4M | 0.10% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $6.2M | $6.1M | 0.18% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 1 | $5.4M | $5.3M | 0.24% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $4.1M | $4.1M | 0.16% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $4.1M | $4.0M | 0.17% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 1 | $4.0M | $3.9M | 0.24% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $2.6M | $2.5M | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.36: safer than 52% of companies (51th percentile in Communication Services). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $10.65B |
| Debt barrier (short-term + ½ long-term debt) | $522.6M |
| Equity volatility (1 year) | 57.6% |
| Asset value / asset volatility (solved) | $11.15B / 55.1% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 290 bp spread prices in about 4.8% 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'' = -3.81 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in SNAP'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 | 53 | $90.0M | 0 | — | 0 | — | 2 |
| 2026-06-30 | 529 | $2.76B | 31 | $151.0M | 42 | $364.1M | 68 |
| 2026-03-31 | 534 | $2.36B | 36 | $181.3M | 53 | $384.1M | 60 |
| 2025-12-31 | 557 | $6.12B | 38 | $318.0M | 51 | $590.1M | 65 |
| 2025-09-30 | 546 | $5.72B | 41 | $464.4M | 59 | $628.4M | 66 |
| 2025-06-30 | 540 | $7.47B | 34 | $278.2M | 45 | $377.5M | 82 |
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.