Trip.com Group Limited bonds TCOM
Who owns Trip.com Group Limited'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. TCOM 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 |
|---|---|---|---|---|---|---|---|---|---|
| G9066FAA9 convertible | 1.5% fixed | 2027-07-01 | USD | 126.78 | — | — | 1 | $199K | Jul 2026 |
| 89677QAB3 convertible | 0.75% fixed | 2029-06-15 | USD | 102.64 | — | — | 8 | $69.6M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Not enough US-dollar bonds with a yield.
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 | $69.8M | 114.71 | — | — | 8 |
| Jun 2026 | 2 | $61.8M | 110.90 | — | — | 10 |
| May 2026 | 2 | $280K | 117.03 | — | — | 1 |
| Apr 2026 | 2 | $71.7M | 125.53 | — | — | 9 |
| Mar 2026 | 2 | $60.3M | 122.49 | — | — | 8 |
| Feb 2026 | 1 | $12.8M | 105.60 | — | — | 3 |
| Jan 2026 | 1 | $83.6M | 113.46 | — | — | 9 |
| Dec 2025 | 2 | $81.9M | 128.11 | — | — | 11 |
| Nov 2025 | 1 | $11.0M | 121.34 | — | — | 4 |
| Oct 2025 | 1 | $86.2M | 122.25 | — | — | 14 |
| Sep 2025 | 2 | $84.9M | 121.93 | — | — | 11 |
| Aug 2025 | 1 | $12.6M | 125.36 | — | — | 4 |
| Jul 2025 | 1 | $75.1M | 113.64 | — | — | 15 |
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. 6 added, 1 cut, 5 new holders and 6 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $30.7M | $31.5M | $4.6M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $25.0M | $25.7M | $0 |
| AQR Diversified Arbitrage Fund AQR Funds | 2026-06-30 | $22.2M | $21.8M | $0 |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $22.1M | $21.8M | $2.7M |
| T. Rowe Price Dynamic Global Bond Fund T. ROWE PRICE INTERNATIONAL FUNDS, INC. | 2026-06-30 | $8.4M | $8.3M | $0 |
| FS Multi-Strategy Alternatives Fund ADVISORS' INNER CIRCLE III | 2026-06-30 | $6.5M | $6.4M | $606K |
| Global Opportunities Portfolio | 2026-07-31 | $4.3M | $4.4M | $0 |
| Advent Convertible & Income Fund ADVENT CONVERTIBLE & INCOME FUND | 2026-07-31 | $2.5M | $2.6M | -$399K |
| Calamos Global Convertible Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $2.5M | $2.6M | $0 |
| WESTWOOD ALTERNATIVE INCOME FUND Ultimus Managers Trust | 2026-07-31 | $2.0M | $2.0M | $0 |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $1.4M | $1.4M | new |
| Putnam Diversified Income Trust | 2026-06-30 | $617K | $758K | $0 |
| Morningstar Alternatives Fund Morningstar Funds Trust | 2026-07-31 | $674K | $690K | new |
| JNL Multi-Manager Alternative Fund JNL Series Trust | 2026-06-30 | $489K | $585K | $252K |
| Strategic Alternatives Fund GuideStone Funds | 2026-06-30 | $291K | $287K | new |
| Franklin Alternative Strategies Fund Franklin Alternative Strategies Funds | 2026-05-29 | $252K | $280K | $171K |
| Eaton Vance Income Opportunities ETF Morgan Stanley ETF Trust | 2026-06-30 | $270K | $266K | new |
| 1290 VT Convertible Securities Portfolio EQ Advisors Trust | 2026-06-30 | $268K | $264K | $0 |
| PACE Alternative Strategies Investments PACE SELECT ADVISORS TRUST | 2026-07-31 | $186K | $229K | $56K |
| Lazard Enhanced Opportunities Portfolio LAZARD FUNDS INC | 2026-06-30 | $37K | $37K | new |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $0 | $0 | -$12.0M |
| Virtus Artificial Intelligence & Technology Opportunities Fund | 2026-07-31 | $0 | $0 | -$3.1M |
| Defensive Market Strategies Fund GuideStone Funds | 2026-06-30 | $0 | $0 | -$1.1M |
| First Trust SSI Strategic Convertible Securities ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $0 | $0 | -$466K |
| Opportunistic Fixed Income Trust John Hancock Variable Insurance Trust | 2026-06-30 | $0 | $0 | -$15K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Columbia Convertible Securities Fund ($12.0M), Virtus Artificial Intelligence & Technology Opportunities Fund ($3.1M), Defensive Market Strategies Fund ($1.1M), First Trust SSI Strategic Convertible Securities ETF ($466K), Opportunistic Fixed Income Trust ($15K), Opportunistic Fixed Income Fund ($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.
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 6.41: safer than 62% of companies (59th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $25.77B |
| Debt barrier (short-term + ½ long-term debt) | $3.90B |
| Equity volatility (1 year) | 36.0% |
| Asset value / asset volatility (solved) | $29.51B / 31.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
No US-dollar bond with a yield to compute it from.
Accounts: Altman Z
Altman Z'' = 3.25 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in TCOM'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 | 20 | $61.6M | 0 | — | 0 | — | 1 |
| 2026-06-30 | 311 | $6.01B | 24 | $168.9M | 15 | $113.5M | 58 |
| 2026-03-31 | 338 | $7.41B | 21 | $189.4M | 17 | $137.5M | 53 |
| 2025-12-31 | 364 | $11.25B | 23 | $161.8M | 21 | $180.1M | 55 |
| 2025-09-30 | 340 | $12.40B | 23 | $168.7M | 21 | $189.0M | 58 |
| 2025-06-30 | 350 | $10.06B | 18 | $174.0M | 20 | $125.3M | 55 |
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.