Viavi Solutions Inc. bonds VIAV
Who owns Viavi Solutions 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. VIAV 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 |
|---|---|---|---|---|---|---|---|---|---|
| 925550AF2 | 3.75% fixed | 2029-10-01 | USD | 94.52 | 5.66% | 140 bp | 30 | $54.6M | Jul 2026 |
| 925550AJ4 convertible | 0.625% fixed | 2031-03-01 | USD | 281.09 | — | — | 13 | $23.3M | 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 | 2 | $77.9M | 187.80 | 5.66% | 140 bp | 30 |
| Jun 2026 | 2 | $53.3M | 225.45 | 5.30% | 115 bp | 36 |
| May 2026 | 2 | $26.5M | 228.12 | 5.44% | 138 bp | 11 |
| Apr 2026 | 2 | $94.5M | 242.18 | 5.25% | 141 bp | 30 |
| Mar 2026 | 2 | $63.7M | 171.38 | 5.74% | 198 bp | 45 |
| Feb 2026 | 2 | $18.6M | 158.25 | 5.28% | 172 bp | 11 |
| Jan 2026 | 3 | $124.4M | 178.65 | 5.22% | 155 bp | 38 |
| Dec 2025 | 3 | $51.2M | 134.70 | 5.03% | 142 bp | 51 |
| Nov 2025 | 3 | $12.9M | 135.79 | 5.13% | 153 bp | 12 |
| Oct 2025 | 3 | $113.7M | 135.00 | 5.38% | 179 bp | 41 |
| Sep 2025 | 3 | $47.6M | 104.88 | 5.32% | 172 bp | 47 |
| Aug 2025 | 3 | $4.8M | 101.87 | 5.60% | 186 bp | 11 |
| Jul 2025 | 2 | $92.1M | 96.70 | 5.79% | 188 bp | 37 |
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. 19 added, 25 cut, 13 new holders and 14 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $16.4M | $15.5M | -$10.7M |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $5.2M | $14.7M | $700K |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $10.0M | $9.5M | $0 |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $2.5M | $8.8M | -$3.4M |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $2.4M | $8.5M | -$3.2M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $7.4M | $6.9M | $361K |
| Columbia Convertible Securities Fund COLUMBIA FUNDS SERIES TRUST | 2026-05-31 | $1.8M | $6.5M | new |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $6.8M | $6.5M | $0 |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $1.6M | $5.6M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.9M | $5.6M | $1.5M |
| Lord Abbett Convertible Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $1.2M | $4.5M | new |
| Income Fund of America | 2026-07-31 | $4.7M | $4.4M | $0 |
| American High Income Trust | 2026-06-30 | $3.7M | $3.6M | -$40K |
| First Trust Tactical High Yield ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $3.7M | $3.5M | new |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $3.5M | $3.4M | -$424K |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $3.5M | $3.3M | $320K |
| High Yield Bond Core Fund Federated Hermes Core Trust | 2026-06-30 | $2.2M | $2.1M | $0 |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $587K | $2.1M | -$70K |
| PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $2.0M | $1.9M | $334K |
| Virtus Convertible & Income Fund | 2026-07-31 | $620K | $1.7M | -$135K |
| CALAMOS STRATEGIC TOTAL RETURN FUND | 2026-07-31 | $1.8M | $1.7M | $0 |
| Asset Allocation Fund AMERICAN FUNDS INSURANCE SERIES | 2026-06-30 | $421K | $1.5M | new |
| CALAMOS CONVERTIBLE & HIGH INCOME FUND | 2026-07-31 | $1.6M | $1.5M | $0 |
| Virtus Convertible & Income Fund II | 2026-07-31 | $495K | $1.4M | -$110K |
| Virtus Equity & Convertible Income Fund | 2026-07-31 | $495K | $1.4M | -$105K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Multi-Manager High Yield Bond Fund ($2.5M), State Street(R) Blackstone Senior Loan ETF ($1.1M), JPMorgan Flexible Debt ETF ($660K), Blackstone Strategic Credit 2027 Term Fund ($660K), CITY NATIONAL ROCHDALE FIXED INCOME OPPORTUNITIES FUND ($325K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($178K), Blackstone Long-Short Credit Income Fund ($140K), Janus Henderson Multi-Sector Income Fund ($125K), BlackRock Ltd Duration Income Trust ($116K), BlackRock Multi-Sector Income Trust ($67K).
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 |
|---|---|---|---|---|---|
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 1 | $5.2M | $14.7M | 0.20% |
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $7.4M | $6.9M | 0.02% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $5.9M | $5.6M | 0.05% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 1 | $3.7M | $3.5M | 0.22% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $3.5M | $3.4M | 0.07% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $3.5M | $3.3M | 0.04% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $2.0M | $1.9M | 0.11% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.0M | $952K | 0.04% |
| HYBL State Street(R) Blackstone High Income ETF | 2026-06-30 | 1 | $857K | $817K | 0.14% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $799K | $758K | 0.03% |
| IBHI iShares iBonds 2029 Term High Yield and Income ETF | 2026-07-31 | 1 | $668K | $631K | 0.13% |
| SIHY Harbor Ares Systematic High Yield ETF | 2026-07-31 | 1 | $500K | $474K | 0.32% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $475K | $448K | 0.04% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $153K | $429K | 0.43% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $425K | $401K | 0.00% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.76: safer than 34% of companies (32th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-06-27.
| Equity value | $8.56B |
| Debt barrier (short-term + ½ long-term debt) | $455.6M |
| Equity volatility (1 year) | 77.1% |
| Asset value / asset volatility (solved) | $9.00B / 73.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 140 bp spread prices in about 2.3% 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 = -31.08 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in VIAV'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 | 45 | $261.2M | 0 | — | 1 | $84K | 0 |
| 2026-06-30 | 552 | $10.64B | 17 | $160.3M | 19 | $210.2M | 0 |
| 2026-03-31 | 449 | $5.63B | 18 | $70.3M | 19 | $145.4M | 0 |
| 2025-12-31 | 383 | $3.75B | 11 | $6.8M | 11 | $64.1M | 7 |
| 2025-09-30 | 342 | $2.64B | 3 | $761K | 9 | $27.4M | 11 |
| 2025-06-30 | 305 | $2.08B | 5 | $983K | 9 | $7.5M | 11 |
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.