Union Pacific Corporation bonds UNP
Who owns Union Pacific Corporation'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. UNP 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 |
|---|---|---|---|---|---|---|---|---|---|
| 907818FJ2 | 2.15% fixed | 2027-02-05 | USD | 98.92 | 4.30% | 45 bp | 5 | $10.3M | Jul 2026 |
| 907818EP9 | 3% fixed | 2027-04-15 | USD | 99.11 | 4.28% | 36 bp | 4 | $4.0M | Jul 2026 |
| 907818EY0 | 3.95% fixed | 2028-09-10 | USD | 98.89 | 4.50% | 28 bp | 11 | $24.1M | Jul 2026 |
| 907818CF3 | 6.63% fixed | 2029-02-01 | USD | 104.89 | 4.54% | 30 bp | 5 | $4.4M | Jul 2026 |
| 907818FB9 | 3.7% fixed | 2029-03-01 | USD | 97.79 | 4.61% | 37 bp | 9 | $9.2M | Jul 2026 |
| 907818FH6 | 2.4% fixed | 2030-02-05 | USD | 92.49 | 4.75% | 47 bp | 11 | $10.6M | Jul 2026 |
| 90783XAA9 | 6.176% fixed | 2031-01-02 | USD | 102.39 | 5.56% | 125 bp | 1 | $5K | Jul 2026 |
| 907818FU7 | 2.375% fixed | 2031-05-20 | USD | 89.58 | 4.83% | 51 bp | 10 | $49.4M | Jul 2026 |
| 907818FX1 | 2.8% fixed | 2032-02-14 | USD | 89.90 | 4.90% | 54 bp | 8 | $24.1M | Jul 2026 |
| 907818GB8 | 4.5% fixed | 2033-01-20 | USD | 97.84 | 4.89% | 47 bp | 8 | $6.9M | Jul 2026 |
| 907818CS5 | 5.375% fixed | 2033-06-01 | USD | 102.08 | 5.02% | 69 bp | 1 | $2.6M | Jun 2026 |
| 907818EB0 | 3.375% fixed | 2035-02-01 | USD | 87.29 | 5.25% | 72 bp | 7 | $3.6M | Jul 2026 |
| 907818GG7 | 5.1% fixed | 2035-02-20 | USD | 99.74 | 5.14% | 60 bp | 9 | $11.5M | Jul 2026 |
| 907818FQ6 | 2.891% fixed | 2036-04-06 | USD | 82.65 | 5.19% | 61 bp | 8 | $6.7M | Jul 2026 |
| 907818EQ7 | 3.6% fixed | 2037-09-15 | USD | 85.48 | 5.35% | 69 bp | 7 | $1.4M | Jul 2026 |
| 907818EV6 | 4.375% fixed | 2038-09-10 | USD | 90.00 | 5.52% | 81 bp | 1 | $990K | Jul 2026 |
| 907818FD5 | 3.55% fixed | 2039-08-15 | USD | 81.69 | 5.54% | 79 bp | 7 | $9.8M | Jul 2026 |
| 907818FT0 | 3.2% fixed | 2041-05-20 | USD | 75.52 | 5.66% | 82 bp | 8 | $26.1M | Jul 2026 |
| 907818DJ4 | 4.75% fixed | 2041-09-15 | USD | 88.10 | 5.95% | 109 bp | 1 | $9K | Jul 2026 |
| 907818FY9 | 3.375% fixed | 2042-02-14 | USD | 75.71 | 5.76% | 88 bp | 5 | $20.7M | Jul 2026 |
| 907818DP0 | 4.25% fixed | 2043-04-15 | USD | 80.77 | 6.10% | 116 bp | 1 | $4.0M | Jul 2026 |
| 907818DX3 | 4.85% fixed | 2044-06-15 | USD | 89.22 | 5.83% | 97 bp | 1 | $892K | Jun 2026 |
| 907818DZ8 | 4.15% fixed | 2045-01-15 | USD | 80.84 | 5.86% | 97 bp | 2 | $632K | Jun 2026 |
| 907818EF1 | 4.05% fixed | 2045-11-15 | USD | 77.85 | 6.00% | 93 bp | 3 | $800K | Jul 2026 |
| 907818EJ3 | 4.05% fixed | 2046-03-01 | USD | 77.62 | 6.01% | 92 bp | 7 | $1.5M | Jul 2026 |
| 907818EK0 | 3.35% fixed | 2046-08-15 | USD | 69.32 | 6.00% | 89 bp | 3 | $780K | Jul 2026 |
| 907818EN4 | 4% fixed | 2047-04-15 | USD | 76.31 | 6.02% | 91 bp | 4 | $1.1M | Jul 2026 |
| 907818EW4 | 4.5% fixed | 2048-09-10 | USD | 81.38 | 6.04% | 93 bp | 3 | $814K | Jul 2026 |
| 907818FC7 | 4.3% fixed | 2049-03-01 | USD | 78.97 | 6.01% | 91 bp | 6 | $2.0M | Jul 2026 |
| 907818FK9 | 3.25% fixed | 2050-02-05 | USD | 65.48 | 6.01% | 90 bp | 12 | $9.5M | Jul 2026 |
| 907818EM6 | 3.8% fixed | 2051-10-01 | USD | 71.47 | 6.01% | 91 bp | 3 | $2.0M | Jul 2026 |
| 907818FW3 | 2.95% fixed | 2052-03-10 | USD | 60.24 | 6.01% | 91 bp | 7 | $2.6M | Jul 2026 |
| 907818GC6 | 4.95% fixed | 2052-09-09 | USD | 86.40 | 5.99% | 88 bp | 4 | $2.4M | Jul 2026 |
| 907818FZ6 | 3.5% fixed | 2053-02-14 | USD | 66.98 | 6.00% | 90 bp | 8 | $17.7M | Jul 2026 |
| 907818GF9 | 4.95% fixed | 2053-05-15 | USD | 85.89 | 6.02% | 91 bp | 5 | $1.3M | Jul 2026 |
| 907818GH5 | 5.6% fixed | 2054-12-01 | USD | 94.63 | 6.00% | 89 bp | 15 | $29.0M | Jul 2026 |
| 907818EC8 | 3.88% fixed | 2055-02-01 | USD | 71.24 | 6.00% | 90 bp | 3 | $831K | Jul 2026 |
| 907818FE3 | 3.95% fixed | 2059-08-15 | USD | 70.04 | 6.06% | 96 bp | 6 | $1.2M | Jul 2026 |
| 907818FG8 | 3.839% fixed | 2060-03-20 | USD | 68.16 | 6.07% | 97 bp | 9 | $3.1M | Jul 2026 |
| 907818FV5 | 3.55% fixed | 2061-05-20 | USD | 63.72 | 6.06% | 96 bp | 5 | $6.0M | Jul 2026 |
| 907818FN3 | 2.973% fixed | 2062-09-16 | USD | 55.16 | 6.04% | 94 bp | 8 | $5.9M | Jul 2026 |
| 907818GD4 | 5.15% fixed | 2063-01-20 | USD | 86.71 | 6.06% | 96 bp | 5 | $16.3M | Jul 2026 |
| 907818ER5 | 4.1% fixed | 2067-09-15 | USD | 70.16 | 6.08% | 98 bp | 6 | $1.0M | Jul 2026 |
| 907818FL7 | 3.75% fixed | 2070-02-05 | USD | 64.25 | 6.10% | 100 bp | 5 | $1.1M | Jul 2026 |
| 907818FS2 | 3.799% fixed | 2071-04-06 | USD | 64.88 | 6.10% | 100 bp | 5 | $1.4M | Jul 2026 |
| 907818GA0 | 3.85% fixed | 2072-02-14 | USD | 66.33 | 6.02% | 92 bp | 8 | $6.6M | 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 | 43 | $342.7M | 81.38 | 5.86% | 89 bp | 15 |
| Jun 2026 | 43 | $1.07B | 84.17 | 5.52% | 69 bp | 37 |
| May 2026 | 41 | $931.6M | 82.36 | 5.53% | 62 bp | 26 |
| Apr 2026 | 43 | $343.6M | 83.98 | 5.61% | 82 bp | 15 |
| Mar 2026 | 43 | $1.05B | 83.95 | 5.53% | 89 bp | 40 |
| Feb 2026 | 42 | $1.03B | 85.43 | 5.21% | 72 bp | 26 |
| Jan 2026 | 45 | $351.5M | 85.14 | 5.34% | 77 bp | 15 |
| Dec 2025 | 47 | $1.01B | 85.41 | 5.27% | 81 bp | 37 |
| Nov 2025 | 43 | $1.03B | 85.10 | 5.20% | 74 bp | 25 |
| Oct 2025 | 45 | $332.3M | 85.43 | 5.24% | 80 bp | 14 |
| Sep 2025 | 47 | $1.04B | 85.09 | 5.24% | 73 bp | 42 |
| Aug 2025 | 44 | $1.01B | 82.41 | 5.48% | 81 bp | 26 |
| Jul 2025 | 46 | $397.2M | 83.72 | 5.51% | 73 bp | 20 |
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. 70 added, 67 cut, 7 new holders and 20 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 | $275.1M | $208.3M | $1.1M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $220.5M | $169.2M | -$5.1M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $123.6M | $120.0M | -$19.6M |
| Bond Fund of America | 2026-06-30 | $128.7M | $110.5M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $133.8M | $109.0M | -$12.6M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $129.3M | $102.7M | -$8.2M |
| VANGUARD LONG-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $112.1M | $86.5M | -$763K |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $88.0M | $75.6M | $525K |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $81.0M | $68.8M | $0 |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $82.6M | $61.3M | $4.2M |
| American Balanced Fund | 2026-06-30 | $61.2M | $55.9M | $0 |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $55.6M | $51.8M | $2.5M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $53.6M | $43.6M | -$1.8M |
| Permanent Portfolio PERMANENT PORTFOLIO FAMILY OF FUNDS | 2026-07-31 | $40.0M | $35.8M | $0 |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $30.6M | $30.1M | $15.4M |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $44.0M | $30.0M | $0 |
| SIIT LONG DURATION CREDIT BOND FUND SEI INSTITUTIONAL INVESTMENTS TRUST | 2026-05-31 | $42.3M | $29.1M | $1.8M |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $40.5M | $29.0M | $0 |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $30.1M | $28.4M | -$312K |
| EQ/Long-Term Bond Portfolio EQ Advisors Trust | 2026-06-30 | $34.5M | $27.3M | $18.6M |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $34.7M | $27.2M | $4.1M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $28.0M | $26.7M | -$4.7M |
| AST Multi-Sector Fixed Income Portfolio Advanced Series Trust | 2026-06-30 | $37.8M | $26.6M | $0 |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $31.5M | $26.2M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $26.2M | $25.8M | -$4.1M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Bond Fund ($12.8M), Invesco BulletShares 2026 Corporate Bond ETF ($6.7M), Investment Grade Bond Fund ($2.1M), Select Bond Trust ($1.4M), Balanced Fund ($1.3M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($1.2M), John Hancock Core Bond ETF ($1.2M), JOHNSON INSTITUTIONAL SHORT DURATION BOND FUND ($1.2M), American Funds Global Balanced Fund ($800K), Federated Hermes Intermediate Corporate Bond Fund ($600K).
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 | 29 | $275.1M | $208.3M | 0.05% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 5 | $123.6M | $120.0M | 0.17% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 37 | $133.8M | $109.0M | 0.08% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 15 | $129.3M | $102.7M | 0.34% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 23 | $82.6M | $61.3M | 0.66% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 37 | $53.6M | $43.6M | 0.25% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 8 | $30.6M | $30.1M | 0.26% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 4 | $30.1M | $28.4M | 0.05% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 37 | $34.7M | $27.2M | 0.06% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $28.0M | $26.7M | 0.15% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $26.2M | $25.8M | 0.05% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 5 | $23.0M | $21.6M | 0.19% |
| BLV VANGUARD LONG-TERM BOND INDEX FUND | 2026-06-30 | 21 | $28.0M | $21.5M | 0.25% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 3 | $20.8M | $20.6M | 0.03% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 4 | $17.8M | $17.5M | 0.08% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 12.12: safer than 87% of companies (88th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $170.77B |
| Debt barrier (short-term + ½ long-term debt) | $16.04B |
| Equity volatility (1 year) | 22.2% |
| Asset value / asset volatility (solved) | $186.14B / 20.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 89 bp spread prices in about 1.5% 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'' = 4.72 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in UNP'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 | 514 | $2.54B | 0 | — | 1 | $327K | 0 |
| 2026-06-30 | 2,881 | $140.84B | 37 | $871.0M | 40 | $1.30B | 1 |
| 2026-03-31 | 2,762 | $106.21B | 39 | $671.9M | 43 | $1.06B | 1 |
| 2025-12-31 | 2,728 | $115.79B | 37 | $612.2M | 46 | $1.42B | 1 |
| 2025-09-30 | 2,643 | $115.68B | 44 | $1.04B | 44 | $1.57B | 1 |
| 2025-06-30 | 2,650 | $108.05B | 41 | $862.2M | 46 | $1.38B | 2 |
Officials trading UNP bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2026-05-01 | Ro Khanna | purchase | Union Pacific Corp | $1,001 - $15,000 | filing |
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.