The Southern Company bonds SOMN
Who owns The Southern Company'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. SOMN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 010392FY9 | 3.75% fixed | 2027-09-01 | USD | 99.31 | 4.40% | 31 bp | 7 | $5.8M | Jul 2026 |
| 605417CB8 | 3.95% fixed | 2028-03-30 | USD | 98.98 | 4.59% | 38 bp | 5 | $4.8M | Jul 2026 |
| 373334KS9 | 4.65% fixed | 2028-05-16 | USD | 100.14 | 4.57% | 33 bp | 12 | $19.6M | Jul 2026 |
| 373334LC3 | 4% fixed | 2028-10-01 | USD | 98.87 | 4.55% | 26 bp | 11 | $23.7M | Jul 2026 |
| 373334KL4 | 2.65% fixed | 2029-09-15 | USD | 94.02 | 4.73% | 38 bp | 11 | $11.2M | Jul 2026 |
| 373334KY6 | 4.55% fixed | 2030-03-15 | USD | 99.14 | 4.81% | 44 bp | 11 | $13.8M | Jul 2026 |
| 010392FU7 | 1.45% fixed | 2030-09-15 | USD | 87.46 | 4.84% | 44 bp | 9 | $27.5M | Jul 2026 |
| 8426EPAD0 | 1.75% fixed | 2031-01-15 | USD | 87.51 | 4.90% | 48 bp | 16 | $14.5M | Jul 2026 |
| 373334LA7 | 4.85% fixed | 2031-03-15 | USD | 99.66 | 4.93% | 50 bp | 11 | $13.1M | Jul 2026 |
| 843646AZ3 | 4.8% fixed | 2031-06-15 | USD | 98.88 | 5.06% | 62 bp | 21 | $56.9M | Jul 2026 |
| 373334KQ3 | 4.7% fixed | 2032-05-15 | USD | 98.93 | 4.91% | 41 bp | 8 | $38.8M | Jul 2026 |
| 8426EPAF5 | 5.15% fixed | 2032-09-15 | USD | 100.25 | 5.10% | 57 bp | 6 | $3.5M | Jul 2026 |
| 373334KT7 | 4.95% fixed | 2033-05-17 | USD | 98.91 | 5.14% | 56 bp | 22 | $77.0M | Jul 2026 |
| 8426EPAG3 | 5.75% fixed | 2033-09-15 | USD | 102.49 | 5.32% | 73 bp | 14 | $42.9M | Jul 2026 |
| 010392GB8 | 5.85% fixed | 2033-11-15 | USD | 103.34 | 5.29% | 68 bp | 12 | $19.2M | Jul 2026 |
| 373334KW0 | 5.25% fixed | 2034-03-15 | USD | 99.76 | 5.29% | 66 bp | 17 | $17.3M | Jul 2026 |
| 8426EPAH1 | 4.95% fixed | 2034-09-15 | USD | 97.17 | 5.38% | 73 bp | 18 | $25.0M | Jul 2026 |
| 373334LB5 | 5.2% fixed | 2035-03-15 | USD | 99.16 | 5.32% | 65 bp | 6 | $3.0M | Jul 2026 |
| 010392GC6 | 5.1% fixed | 2035-04-02 | USD | 98.55 | 5.31% | 63 bp | 7 | $20.4M | Jul 2026 |
| 8426EPAK4 | 5.1% fixed | 2035-09-15 | USD | 96.97 | 5.53% | 82 bp | 15 | $34.7M | Jul 2026 |
| 843646AY6 | 4.9% fixed | 2035-10-01 | USD | 95.00 | 5.60% | 90 bp | 25 | $31.1M | Jul 2026 |
| 373334JN2 | 5.95% fixed | 2039-02-01 | USD | 103.09 | 5.60% | 104 bp | 5 | $1.8M | Jun 2026 |
| 010392FB9 | 6% fixed | 2039-03-01 | USD | 102.67 | 5.70% | 81 bp | 8 | $7.8M | Jul 2026 |
| 373334JS1 | 4.75% fixed | 2040-09-01 | USD | 90.81 | 5.71% | 74 bp | 10 | $23.5M | Jul 2026 |
| 001192AH6 | 5.875% fixed | 2041-03-15 | USD | 99.84 | 5.89% | 90 bp | 10 | $19.9M | Jul 2026 |
| 010392FF0 | 5.2% fixed | 2041-06-01 | USD | 94.13 | 5.79% | 79 bp | 3 | $7.2M | Jul 2026 |
| 605417BZ6 | 4.25% fixed | 2042-03-15 | USD | 81.62 | 6.09% | 104 bp | 11 | $7.3M | Jul 2026 |
| 373334JW2 | 4.3% fixed | 2042-03-15 | USD | 83.55 | 5.93% | 88 bp | 14 | $32.2M | Jul 2026 |
| 010392FJ2 | 3.85% fixed | 2042-12-01 | USD | 78.23 | 5.95% | 87 bp | 7 | $4.4M | Jul 2026 |
| 373334KA8 | 4.3% fixed | 2043-03-15 | USD | 82.43 | 5.98% | 88 bp | 7 | $4.5M | Jul 2026 |
| 001192AK9 | 4.4% fixed | 2043-06-01 | USD | 82.30 | 6.10% | 98 bp | 11 | $10.6M | Jul 2026 |
| 010392FL7 | 4.15% fixed | 2044-08-15 | USD | 79.52 | 6.03% | 85 bp | 6 | $1.4M | Jul 2026 |
| 010392FM5 | 3.75% fixed | 2045-03-01 | USD | 74.53 | 6.05% | 85 bp | 7 | $14.7M | Jul 2026 |
| 8426EPAB4 | 3.95% fixed | 2046-10-01 | USD | 75.03 | 6.12% | 84 bp | 8 | $3.8M | Jul 2026 |
| 8426EPAC2 | 4.4% fixed | 2047-05-30 | USD | 79.39 | 6.17% | 89 bp | 6 | $2.3M | Jul 2026 |
| 010392FR4 | 3.7% fixed | 2047-12-01 | USD | 71.62 | 6.09% | 82 bp | 4 | $2.2M | Jul 2026 |
| 010392FS2 | 4.3% fixed | 2048-07-15 | USD | 78.82 | 6.06% | 78 bp | 4 | $1.1M | Jul 2026 |
| 010392FT0 | 3.45% fixed | 2049-10-01 | USD | 67.24 | 6.11% | 84 bp | 9 | $31.5M | Jul 2026 |
| 373334KN0 | 3.7% fixed | 2050-01-30 | USD | 70.34 | 6.09% | 81 bp | 12 | $10.5M | Jul 2026 |
| 373334KP5 | 3.25% fixed | 2051-03-15 | USD | 64.01 | 6.09% | 81 bp | 8 | $4.6M | Jul 2026 |
| 605417CD4 | 3.1% fixed | 2051-07-30 | USD | 61.66 | 6.11% | 84 bp | 3 | $2.0M | Jul 2026 |
| 010392FW3 | 3% fixed | 2052-03-15 | USD | 60.61 | 6.04% | 77 bp | 5 | $1.3M | Jul 2026 |
| 373334KR1 | 5.125% fixed | 2052-05-15 | USD | 88.09 | 6.04% | 77 bp | 10 | $14.1M | Jul 2026 |
| 8426EPAL2 | 6.05% fixed | 2056-09-15 | USD | 99.44 | 6.09% | 82 bp | 15 | $27.4M | Jul 2026 |
| U84258AF6 | 1.875% fixed | 2081-09-15 | EUR | 98.28 | 1.93% | — | 1 | $168K | Jun 2026 |
| BR3544508 | 1.875% variable | 2081-09-15 | EUR | 98.04 | — | — | 6 | $35.2M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over the month-end Treasury curve. Each month is compared with the month before on the same bonds, because the funds that file rotate from month to month. Fund-reported.
Price history
Fund-marked price of the US-dollar bonds, same bonds month to month, latest month = 100 (the plain median per 100 of face when too few bonds pair up).
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 |
|---|---|---|---|---|---|---|
| Aug 2026 partial: filings still arriving | 44 | $507.0M | 94.28 | 5.71% | 80 bp | 15 |
| Jul 2026 | 44 | $773.3M | 94.57 | 5.65% | 77 bp | 25 |
| Jun 2026 | 46 | $1.94B | 97.73 | 5.35% | 78 bp | 66 |
| May 2026 | 46 | $1.49B | 97.53 | 5.38% | 73 bp | 31 |
| Apr 2026 | 42 | $720.3M | 95.70 | 5.38% | 82 bp | 27 |
| Mar 2026 | 46 | $1.86B | 96.90 | 5.39% | 91 bp | 65 |
| Feb 2026 | 44 | $1.51B | 97.88 | 5.02% | 88 bp | 32 |
| Jan 2026 | 43 | $765.4M | 97.70 | 5.24% | 78 bp | 35 |
| Dec 2025 | 45 | $1.95B | 97.31 | 5.23% | 80 bp | 78 |
| Nov 2025 | 43 | $1.45B | 96.75 | 5.07% | 84 bp | 32 |
| Oct 2025 | 43 | $774.0M | 96.89 | 5.10% | 78 bp | 32 |
| Sep 2025 | 45 | $1.94B | 96.36 | 5.18% | 75 bp | 76 |
| Aug 2025 | 40 | $1.21B | 94.21 | 5.41% | 80 bp | 26 |
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. 141 added, 89 cut, 47 new holders and 24 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $354.3M | $329.5M | $25.5M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $320.0M | $300.4M | $11.2M |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $313.5M | $296.4M | $0 |
| VANGUARD WELLESLEY INCOME FUND | 2026-06-30 | $278.5M | $257.4M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $227.1M | $228.5M | $6.5M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $193.0M | $190.8M | -$6.4M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $118.4M | $108.0M | $4.5M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $101.1M | $97.6M | $6.9M |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $116.5M | $94.9M | $0 |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $78.2M | $71.3M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $64.2M | $64.9M | -$639K |
| VANGUARD LONG-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $73.7M | $62.1M | -$4.9M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | mixed | $51.8M | mixed |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $52.0M | $51.3M | $7.1M |
| Core Fixed Income Fund Principal Funds, Inc | 2026-07-31 | $67.0M | $50.1M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $47.9M | $48.4M | -$2.1M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $48.7M | $45.0M | $3.6M |
| Dimensional Core Fixed Income ETF Dimensional ETF Trust | 2026-07-31 | $44.0M | $42.9M | $1.7M |
| AST Multi-Sector Fixed Income Portfolio Advanced Series Trust | 2026-06-30 | $50.5M | $42.2M | $0 |
| Strategic Advisers Fidelity Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | mixed | $41.0M | mixed |
| JOHNSON INSTITUTIONAL CORE BOND FUND Johnson Mutual Funds Trust | 2026-06-30 | $42.1M | $40.6M | $0 |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $41.1M | $38.0M | -$2.4M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $37.4M | $37.7M | $2.2M |
| JPMorgan Core Bond Fund JPMorgan Trust II | 2026-05-31 | $36.6M | $36.4M | -$769K |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $45.9M | $35.4M | $3.4M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): JPMorgan Ultra-Short Income ETF ($42.2M), Aristotle Core Income Fund ($4.0M), VOYA INTERMEDIATE BOND FUND ($2.6M), Franklin Total Return Fund ($2.0M), Global X Investment Grade Corporate Bond ETF ($1.6M), Eventide Limited-Term Bond Fund ($1.5M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($1.4M), PRAXIS IMPACT BOND FUND ($1.0M), Nuveen Green Bond Fund ($1.0M), PIMCO Total Return Fund V ($775K).
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 | 38 | $354.3M | $329.5M | 0.08% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 13 | $227.1M | $228.5M | 0.33% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-08-31 | 42 | $124.2M | $110.9M | 0.08% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 8 | $101.1M | $97.6M | 0.19% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 12 | $64.2M | $64.9M | 0.12% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 9 | $52.0M | $51.3M | 0.07% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-08-31 | 11 | $50.2M | $49.5M | 0.26% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-08-31 | 43 | $50.5M | $45.4M | 0.25% |
| DFCF Dimensional Core Fixed Income ETF | 2026-07-31 | 12 | $44.0M | $42.9M | 0.39% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-08-31 | 6 | $46.3M | $41.9M | 0.13% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-08-31 | 11 | $38.9M | $37.7M | 0.16% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 12 | $37.4M | $37.7M | 0.32% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 19 | $45.9M | $35.4M | 0.38% |
| CGCB Capital Group Core Bond ETF | 2026-06-30 | 1 | $27.6M | $27.8M | 0.50% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 20 | $27.7M | $27.5M | 0.24% |
Default risk, three ways
Stock market: risk of going bust
Risk of going bust: lower than 81% of companies (86th percentile in Utilities); distance to default 9.97. Of US companies ranked in the safest four tenths, about 1 in 3,500 filed for bankruptcy within a year (2020-2025). If the stock fell to about $1.40 (down 97% from the 2026-10-26 close), the company would be worth roughly what it owes. Market-implied, prices to 2026-10-26, balance sheet 2026-06-30.
| Equity value | $106.49B |
| Debt barrier (short-term + ½ long-term debt) | $41.20B |
| Equity volatility (1 year) | 17.9% |
| Asset value / asset volatility (solved) | $145.97B / 13.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 77 bp spread prices in about 1.3% 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'' = 0.86 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
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.