Smith & Nephew plc bonds SNN
Who owns Smith & Nephew plc'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. SNN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 83192PAC2 | 5.15% fixed | 2027-03-20 | USD | 100.38 | 4.52% | 63 bp | 10 | $39.0M | Jul 2026 |
| 83192PAB4 | 4.565% fixed | 2029-10-11 | EUR | 102.97 | 3.56% | — | 2 | $2.4M | Jul 2026 |
| 83192PAA6 | 2.032% fixed | 2030-10-14 | USD | 88.40 | 5.13% | 83 bp | 17 | $13.8M | Jul 2026 |
| 83192PAD0 | 5.4% fixed | 2034-03-20 | USD | 98.94 | 5.57% | 108 bp | 13 | $10.3M | Jul 2026 |
| XS3384821834 | 4.25% fixed | 2038-06-03 | EUR | 98.52 | 4.41% | — | 1 | $227K | 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 | 5 | $65.7M | 98.94 | 5.35% | 96 bp | 17 |
| Jun 2026 | 3 | $208.2M | 100.36 | 5.11% | 84 bp | 32 |
| May 2026 | 3 | $87.2M | 100.35 | 5.01% | 78 bp | 20 |
| Apr 2026 | 4 | $65.7M | 101.06 | 4.94% | 90 bp | 17 |
| Mar 2026 | 3 | $197.5M | 100.53 | 4.96% | 100 bp | 32 |
| Feb 2026 | 3 | $87.1M | 101.15 | 4.26% | 61 bp | 19 |
| Jan 2026 | 4 | $43.9M | 102.01 | 4.43% | 67 bp | 16 |
| Dec 2025 | 3 | $218.2M | 101.15 | 4.38% | 70 bp | 33 |
| Nov 2025 | 3 | $78.9M | 101.10 | 4.35% | 69 bp | 18 |
| Oct 2025 | 4 | $40.5M | 102.33 | 4.41% | 76 bp | 15 |
| Sep 2025 | 3 | $239.6M | 101.36 | 4.40% | 73 bp | 33 |
| Aug 2025 | 3 | $83.4M | 101.41 | 4.43% | 62 bp | 17 |
| Jul 2025 | 4 | $49.3M | 101.24 | 4.77% | 80 bp | 18 |
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. 23 added, 20 cut, 12 new holders and 6 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $42.6M | $39.7M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $33.0M | $31.1M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $29.7M | $30.1M | $4.1M |
| First Trust Enhanced Short Maturity ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $27.4M | $27.5M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $24.3M | $22.9M | $720K |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $21.2M | $20.0M | $0 |
| Virtus Newfleet Multi-Sector Short Term Bond Fund Virtus Opportunities Trust | 2026-06-30 | $10.6M | $9.4M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $9.2M | $8.6M | -$1.9M |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $9.3M | $8.4M | $6.1M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $6.7M | $6.7M | $175K |
| iShares Investment Grade Systematic Bond ETF iShares Trust | 2026-05-31 | $7.3M | $6.5M | -$592K |
| Victory Income Fund Victory Portfolios III | 2026-07-31 | $6.8M | $6.4M | $0 |
| Janus Henderson Short Duration Income ETF Janus Detroit Street Trust | 2026-07-31 | $6.3M | $6.3M | $0 |
| PGIM Ultra Short Bond ETF PGIM ETF Trust | 2026-05-29 | $6.1M | $6.1M | $0 |
| PIMCO Short-Term Fund PIMCO FUNDS | 2026-06-30 | $5.9M | $5.9M | $0 |
| Invesco BulletShares 2030 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $6.1M | $5.4M | $310K |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $5.9M | $5.3M | $254K |
| PIMCO Active Bond Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $5.0M | $5.0M | -$2.0M |
| Baird Intermediate Bond Fund Baird Funds Inc | 2026-06-30 | $5.6M | $5.0M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $5.6M | $5.0M | -$1.9M |
| iShares iBonds Dec 2030 Term Corporate ETF iShares Trust | 2026-07-31 | $5.2M | $4.6M | $545K |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $4.4M | $4.5M | $305K |
| Fixed Income SHares: Series C PIMCO Managed Accounts Trust | 2026-06-30 | $4.0M | $4.0M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $4.2M | $3.8M | $200K |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $3.6M | $3.6M | $455K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): GMO Systematic Investment Grade Credit ETF ($198K), Symmetry Panoramic US Systematic Fixed Income Fund ($96K), JPMorgan BetaBuilders USD Investment Grade Corporate Bond ETF ($92K), Columbia Short Duration Bond ETF ($50K), WisdomTree Interest Rate Hedged U.S. Aggregate Bond Fund ($25K), iShares ESG Aware 1-5 Year USD Corporate Bond ETF ($15K).
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 |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $29.7M | $30.1M | 0.04% |
| FTSM First Trust Enhanced Short Maturity ETF | 2026-07-31 | 1 | $27.4M | $27.5M | 0.42% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 2 | $24.3M | $22.9M | 0.01% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 2 | $9.2M | $8.6M | 0.01% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 2 | $9.3M | $8.4M | 0.07% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 1 | $6.7M | $6.7M | 0.01% |
| IGEB iShares Investment Grade Systematic Bond ETF | 2026-05-31 | 1 | $7.3M | $6.5M | 0.47% |
| VNLA Janus Henderson Short Duration Income ETF | 2026-07-31 | 1 | $6.3M | $6.3M | 0.19% |
| PULS PGIM Ultra Short Bond ETF | 2026-05-29 | 1 | $6.1M | $6.1M | 0.04% |
| BSCU Invesco BulletShares 2030 Corporate Bond ETF | 2026-05-31 | 1 | $6.1M | $5.4M | 0.21% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $5.9M | $5.3M | 0.01% |
| BOND PIMCO Active Bond Exchange-Traded Fund | 2026-06-30 | 1 | $5.0M | $5.0M | 0.06% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $5.6M | $5.0M | 0.02% |
| IBDV iShares iBonds Dec 2030 Term Corporate ETF | 2026-07-31 | 1 | $5.2M | $4.6M | 0.14% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $4.4M | $4.5M | 0.02% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 7.90: safer than 72% of companies (68th percentile in Healthcare). Market-implied, prices to 2026-10-16, balance sheet 2026-06-27.
| Equity value | $12.08B |
| Debt barrier (short-term + ½ long-term debt) | $2.05B |
| Equity volatility (1 year) | 28.5% |
| Asset value / asset volatility (solved) | $14.04B / 24.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 96 bp spread prices in about 1.6% 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'' = 4.54 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in SNN'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 | 29 | $17.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 291 | $1.05B | 0 | — | 0 | — | 0 |
| 2026-03-31 | 274 | $1.01B | 0 | — | 0 | — | 0 |
| 2025-12-31 | 260 | $1.06B | 0 | — | 1 | $7K | 0 |
| 2025-09-30 | 253 | $1.16B | 0 | — | 0 | — | 0 |
| 2025-06-30 | 227 | $1.02B | 1 | $0 | 1 | $0 | 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.