Bonds · Corporate issuer
Verizon Communications Inc. bonds VZ
Who owns Verizon Communications 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. VZ stock page.
Held by funds
$2.55B
92 bonds, fund marks Jul 2026
Fund holders
817
+105 vs prior quarter
USD spread over Treasuries
115 bp
+23 bp in a month · fund-reported
USD yield
5.88%
median yield to maturity · fund-reported
Distance-to-default
58th pct
safer than 58% of companies · market-implied, 2026-10-16
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 |
|---|---|---|---|---|---|---|---|---|---|
| 92343VEC4 | 1.38% fixed | 2026-10-27 | EUR | 99.42 | 2.56% | — | 1 | $408K | Apr 2026 |
| 92343VDY7 | 4.125% fixed | 2027-03-16 | USD | 99.86 | 4.34% | 45 bp | 10 | $36.9M | Jul 2026 |
| AO6240268 | 4.5% fixed | 2027-08-17 | AUD | 99.26 | 5.23% | — | 5 | $10.7M | Jul 2026 |
| CH0367206676 | 1% fixed | 2027-11-30 | CHF | 153.82 | — | — | 1 | $497K | Jul 2026 |
| 92343VHR8 | 6.73% fixed | 2028-02-15 | USD | 100.83 | 6.15% | 201 bp | 1 | $25K | Jul 2026 |
| 92343VGH1 | 2.1% fixed | 2028-03-22 | USD | 96.08 | 4.60% | 44 bp | 9 | $30.7M | Jul 2026 |
| 92343VFY5 | 2.375% fixed | 2028-03-22 | CAD | 98.21 | 3.50% | — | 4 | $28.2M | Jul 2026 |
| BO5788902 | 2.35% fixed | 2028-03-23 | AUD | 95.48 | 5.25% | — | 2 | $2.3M | Jul 2026 |
| 92343VER1 | 4.329% fixed | 2028-09-21 | USD | 99.31 | 4.67% | 44 bp | 14 | $16.5M | Jul 2026 |
| 92343VDK7 | 1.38% fixed | 2028-11-02 | EUR | 95.84 | 3.32% | — | 1 | $553K | Jul 2026 |
| 92343VFP4 | 1.125% fixed | 2028-11-03 | GBP | 92.17 | 4.82% | — | 2 | $17.4M | Jul 2026 |
| 92343VES9 | 3.875% fixed | 2029-02-08 | USD | 97.96 | 4.74% | 50 bp | 13 | $25.6M | Jul 2026 |
| ACI1WHRV3 | 0.375% fixed | 2029-03-22 | EUR | 92.63 | 3.33% | — | 5 | $23.8M | Jul 2026 |
| 92343VEK6 | 6.8% fixed | 2029-05-01 | USD | 104.98 | 4.94% | 91 bp | 1 | $262K | May 2026 |
| 92343VED2 | 1.875% fixed | 2029-10-26 | EUR | 95.22 | 3.46% | — | 7 | $9.0M | Jul 2026 |
| 92343VEU4 | 4.016% fixed | 2029-12-03 | USD | 97.60 | 4.80% | 53 bp | 20 | $147.9M | Jul 2026 |
| 92343VFE9 | 3.15% fixed | 2030-03-22 | USD | 94.16 | 4.92% | 64 bp | 15 | $52.0M | Jul 2026 |
| 92343VEW0 | 1.25% fixed | 2030-04-08 | EUR | 92.12 | 3.57% | — | 7 | $40.8M | Jul 2026 |
| ZQ3478752 | 2.65% fixed | 2030-05-06 | AUD | 90.43 | 5.50% | — | 2 | $1.1M | Jul 2026 |
| 92343VFG4 | 2.5% fixed | 2030-05-16 | CAD | 95.06 | 3.91% | — | 7 | $20.7M | Jul 2026 |
| 92343VFL3 | 1.5% fixed | 2030-09-18 | USD | 87.26 | 4.94% | 64 bp | 16 | $24.3M | Jul 2026 |
| 92343VFA7 | 1.875% fixed | 2030-09-19 | GBP | 87.67 | 5.23% | — | 2 | $27.3M | Jul 2026 |
| 92343VFX7 | 1.68% fixed | 2030-10-30 | USD | 87.50 | 4.98% | 68 bp | 15 | $22.1M | Jul 2026 |
| 92343VGR9 | 4.25% fixed | 2030-10-31 | EUR | 102.29 | 3.65% | — | 1 | $8.3M | Jul 2026 |
| 92344GAM8 | 7.75% fixed | 2030-12-01 | USD | 110.65 | 4.99% | 68 bp | 12 | $26.1M | Jul 2026 |
| 92343VFR0 | 1.75% fixed | 2031-01-20 | USD | 87.11 | 5.00% | 69 bp | 17 | $49.3M | Jul 2026 |
| 92343VGJ7 | 2.55% fixed | 2031-03-21 | USD | 89.91 | 5.01% | 70 bp | 25 | $99.0M | Jul 2026 |
| AU3CB0278877 | 3% fixed | 2031-03-23 | AUD | 89.32 | 5.65% | — | 2 | $754K | Jul 2026 |
| BO6331934 | 0.555% fixed | 2031-03-24 | CHF | 149.79 | — | — | 2 | $6.1M | Jul 2026 |
| 92343VEX8 | 2.5% fixed | 2031-04-08 | GBP | 88.18 | 5.39% | — | 4 | $4.2M | Jul 2026 |
| 92343VCT9 | 2.63% fixed | 2031-12-01 | EUR | 94.59 | 3.77% | — | 3 | $8.4M | Jul 2026 |
| 92343VGN8 | 2.355% fixed | 2032-03-15 | USD | 86.59 | 5.13% | 76 bp | 34 | $174.4M | Jul 2026 |
| 92343VEY6 | 0.875% fixed | 2032-03-19 | EUR | 85.24 | 3.84% | — | 2 | $15.7M | Jul 2026 |
| U9221ABU1 | 0.75% fixed | 2032-03-22 | EUR | 84.43 | 3.87% | — | 4 | $18.1M | Jul 2026 |
| 92343VGU2 | 3.5% fixed | 2032-06-28 | EUR | 97.85 | 3.91% | — | 2 | $28.2M | Jul 2026 |
| 9221ACM85 | 3.25% fixed | 2032-10-29 | EUR | 96.34 | 3.92% | — | 4 | $3.1M | Jul 2026 |
| YM8430204 | 3.25% fixed | 2032-10-29 | EUR | 196.69 | — | — | 1 | $337K | Jun 2026 |
| 92343VHF4 | 4.75% fixed | 2033-01-15 | USD | 96.90 | 5.32% | 90 bp | 28 | $112.7M | Jul 2026 |
| 92343VGT5 | 5.05% fixed | 2033-05-09 | USD | 98.84 | 5.25% | 81 bp | 11 | $12.7M | Jul 2026 |
| 92343VFJ8 | 1.3% fixed | 2033-05-18 | EUR | 84.17 | 4.01% | — | 5 | $10.2M | Jul 2026 |
| 92343VEA8 | 4.5% fixed | 2033-08-10 | USD | 94.82 | 5.40% | 94 bp | 19 | $34.1M | Jul 2026 |
| 92343VBS2 | 6.4% fixed | 2033-09-15 | USD | 106.28 | 5.33% | 86 bp | 3 | $2.7M | Jul 2026 |
| 92343VBX1 | 4.75% fixed | 2034-02-17 | GBP | 93.29 | 5.86% | — | 5 | $27.7M | Jul 2026 |
| 92343VGS7 | 4.75% fixed | 2034-10-31 | EUR | 104.09 | 4.15% | — | 6 | $35.1M | Jul 2026 |
| 92343VCQ5 | 4.4% fixed | 2034-11-01 | USD | 92.82 | 5.49% | 97 bp | 9 | $17.1M | Jul 2026 |
| 92343VGY4 | 4.78% fixed | 2035-02-15 | USD | 94.35 | 5.62% | 109 bp | 18 | $63.7M | Jul 2026 |
| 92343VGZ1 | 5.25% fixed | 2035-04-02 | USD | 97.50 | 5.62% | 108 bp | 30 | $155.2M | Jul 2026 |
| 92344GAX4 | 5.85% fixed | 2035-09-15 | USD | 101.78 | 5.60% | 104 bp | 7 | $3.3M | Jul 2026 |
| XS2320760114 | 1.125% fixed | 2035-09-19 | EUR | 76.96 | 4.21% | — | 2 | $9.9M | Jul 2026 |
| 92343VDL5 | 3.125% fixed | 2035-11-02 | GBP | 79.80 | 6.00% | — | 2 | $5.1M | Jul 2026 |
| 92343VCV4 | 4.272% fixed | 2036-01-15 | USD | 89.50 | 5.73% | 115 bp | 13 | $10.6M | Jul 2026 |
| 92343VHG2 | 5% fixed | 2036-01-15 | USD | 94.87 | 5.71% | 113 bp | 26 | $102.4M | Jul 2026 |
| 92343VGV0 | 3.75% fixed | 2036-02-28 | EUR | 96.02 | 4.26% | — | 4 | $20.9M | Jul 2026 |
| 92343VEF7 | 3.375% fixed | 2036-10-27 | GBP | 79.16 | 6.15% | — | 7 | $23.3M | Jul 2026 |
| 92343VDU5 | 5.25% fixed | 2037-03-16 | USD | 95.90 | 5.77% | 114 bp | 9 | $21.7M | Jul 2026 |
| 92343VHC1 | 5.401% fixed | 2037-07-02 | USD | 96.77 | 5.80% | 116 bp | 17 | $106.1M | Jul 2026 |
| YM8430212 | 3.75% fixed | 2037-08-06 | EUR | 195.81 | — | — | 1 | $672K | Jun 2026 |
| 9221ACN68 | 3.75% fixed | 2037-08-06 | EUR | 94.38 | 4.40% | — | 3 | $7.0M | Jul 2026 |
| 92343VEE0 | 2.875% fixed | 2038-01-15 | EUR | 86.39 | 4.41% | — | 5 | $11.4M | Jul 2026 |
| 92343VFQ2 | 1.875% fixed | 2038-11-03 | GBP | 62.98 | 6.24% | — | 4 | $7.8M | Jul 2026 |
| 92343VDR2 | 4.812% fixed | 2039-03-15 | USD | 89.86 | 5.97% | 123 bp | 18 | $55.5M | Jul 2026 |
| 92343VEZ3 | 1.5% fixed | 2039-09-19 | EUR | 70.32 | 4.55% | — | 2 | $2.8M | Jul 2026 |
| AU3CB0268167 | 3.5% fixed | 2039-11-04 | AUD | 73.19 | 6.56% | — | 2 | $5.8M | Jul 2026 |
| 92343VFK5 | 1.85% fixed | 2040-05-18 | EUR | 72.41 | 4.59% | — | 4 | $3.0M | Jul 2026 |
| 92343VFT6 | 2.65% fixed | 2040-11-20 | USD | 68.06 | 6.01% | 119 bp | 18 | $41.6M | Jul 2026 |
| 92343VGK4 | 3.4% fixed | 2041-03-22 | USD | 74.16 | 6.09% | 125 bp | 26 | $91.0M | Jul 2026 |
| 92343VGL2 | 2.85% fixed | 2041-09-03 | USD | 68.19 | 6.11% | 125 bp | 18 | $16.4M | Jul 2026 |
| 92343VBE3 | 4.75% fixed | 2041-11-01 | USD | 87.48 | 6.01% | 115 bp | 3 | $1.2M | Jul 2026 |
| 92343VBG8 | 3.85% fixed | 2042-11-01 | USD | 76.20 | 6.19% | 128 bp | 10 | $5.8M | Jul 2026 |
| 92343VBT0 | 6.55% fixed | 2043-09-15 | USD | 102.62 | 6.30% | 133 bp | 9 | $5.6M | Jul 2026 |
| 92343VHH0 | 5.75% fixed | 2045-11-30 | USD | 92.44 | 6.44% | 136 bp | 17 | $17.9M | Jul 2026 |
| 92343VDC5 | 4.13% fixed | 2046-08-15 | USD | 74.58 | 6.40% | 129 bp | 6 | $9.7M | Jul 2026 |
| 92343VCK8 | 4.862% fixed | 2046-08-21 | USD | 82.34 | 6.44% | 133 bp | 8 | $4.3M | Jul 2026 |
| 92343VDV3 | 5.5% fixed | 2047-03-16 | USD | 90.15 | 6.36% | 125 bp | 4 | $1.2M | Jul 2026 |
| 92343VCX0 | 4.522% fixed | 2048-09-15 | USD | 77.55 | 6.44% | 133 bp | 7 | $2.9M | Jul 2026 |
| 92343VDS0 | 5.012% fixed | 2049-04-15 | USD | 83.40 | 6.41% | 130 bp | 4 | $1.5M | Jul 2026 |
| 92343VFD1 | 4% fixed | 2050-03-22 | USD | 71.98 | 6.29% | 119 bp | 8 | $4.2M | Jul 2026 |
| 92343VFH2 | 3.625% fixed | 2050-05-16 | CAD | 74.09 | 5.61% | — | 3 | $3.3M | Jul 2026 |
| 92343VFU3 | 2.875% fixed | 2050-11-20 | USD | 57.19 | 6.36% | 125 bp | 8 | $5.7M | Jul 2026 |
| 92343VGB4 | 3.55% fixed | 2051-03-22 | USD | 65.41 | 6.34% | 124 bp | 11 | $10.5M | Jul 2026 |
| 92343VGA6 | 4.05% fixed | 2051-03-22 | CAD | 79.40 | 5.60% | — | 2 | $1.9M | Jul 2026 |
| 92343VGP3 | 3.875% fixed | 2052-03-01 | USD | 68.64 | 6.38% | 127 bp | 13 | $7.1M | Jul 2026 |
| 92343VGW8 | 5.5% fixed | 2054-02-23 | USD | 88.36 | 6.40% | 130 bp | 5 | $3.9M | Jul 2026 |
| 92343VCM4 | 5.01% fixed | 2054-08-21 | USD | 81.77 | 6.42% | 132 bp | 4 | $1.7M | Jul 2026 |
| 92343VCZ5 | 4.67% fixed | 2055-03-15 | USD | 76.39 | 6.50% | 140 bp | 3 | $1.3M | Jul 2026 |
| 92343VHJ6 | 5.875% fixed | 2055-11-30 | USD | 91.39 | 6.54% | 144 bp | 31 | $40.3M | Jul 2026 |
| 92343VHN7 | 6.2% fixed | 2056-05-14 | USD | 97.88 | 6.36% | 126 bp | 76 | $193.1M | Jul 2026 |
| 92343VHD9 | 3.996% variable | 2056-06-15 | EUR | 97.55 | — | — | 3 | $21.1M | Jul 2026 |
| 92343VHE7 | 5.742% variable | 2056-06-15 | GBP | 97.80 | — | — | 4 | $25.9M | Jul 2026 |
| 92343VHM9 | 4.246% fixed | 2056-08-15 | EUR | 97.37 | 4.41% | — | 4 | $6.5M | Jul 2026 |
| 92343VHL1 | 5.743% fixed | 2056-08-15 | GBP | 96.53 | 5.99% | — | 3 | $1.3M | Jul 2026 |
| 92343VFW9 | 2.987% fixed | 2056-10-30 | USD | 54.66 | 6.39% | 129 bp | 19 | $13.6M | Jul 2026 |
| 92343VHP2 | 6.05% fixed | 2058-05-14 | USD | 98.38 | 6.17% | 107 bp | 56 | $127.0M | Jul 2026 |
| 92343VFV1 | 3% fixed | 2060-11-20 | USD | 53.86 | 6.30% | 120 bp | 6 | $3.1M | Jul 2026 |
| 92343VGC2 | 3.7% fixed | 2061-03-22 | USD | 62.74 | 6.38% | 128 bp | 10 | $8.0M | Jul 2026 |
| 92343VHK3 | 6% fixed | 2065-11-30 | USD | 90.76 | 6.67% | 156 bp | 20 | $28.2M | 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 | 92 | $2.55B | 91.75 | 5.88% | 115 bp | 76 |
| Jun 2026 | 85 | $5.68B | 96.08 | 5.51% | 92 bp | 118 |
| May 2026 | 56 | $4.17B | 95.18 | 5.34% | 79 bp | 61 |
| Apr 2026 | 90 | $2.49B | 92.32 | 5.43% | 102 bp | 42 |
| Mar 2026 | 83 | $5.35B | 95.22 | 5.42% | 105 bp | 104 |
| Feb 2026 | 54 | $4.14B | 96.68 | 4.99% | 85 bp | 50 |
| Jan 2026 | 90 | $2.58B | 93.44 | 5.26% | 95 bp | 53 |
| Dec 2025 | 82 | $5.44B | 96.48 | 5.16% | 95 bp | 124 |
| Nov 2025 | 55 | $4.07B | 96.27 | 4.98% | 89 bp | 54 |
| Oct 2025 | 84 | $1.99B | 92.13 | 5.15% | 102 bp | 38 |
| Sep 2025 | 71 | $4.23B | 95.34 | 5.09% | 87 bp | 86 |
| Aug 2025 | 51 | $3.42B | 95.20 | 5.15% | 90 bp | 50 |
| Jul 2025 | 83 | $2.05B | 90.35 | 5.31% | 84 bp | 42 |
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. 230 added, 188 cut, 151 new holders and 44 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 | $1.01B | $893.1M | -$105.2M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $940.3M | $834.7M | -$76.7M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $657.5M | $629.7M | -$76.3M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $560.8M | $476.7M | -$56.0M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $456.8M | $431.5M | $2.1M |
| Dodge & Cox Income Fund Dodge & Cox Funds | 2026-06-30 | $441.9M | $418.8M | $159.3M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $412.2M | $359.8M | $5.2M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $295.1M | $277.9M | $71.6M |
| Bond Fund of America | 2026-06-30 | $279.5M | $249.0M | $0 |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $213.1M | $214.1M | $15.8M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $222.7M | $213.9M | $2.9M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $229.1M | $188.5M | $8.0M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $171.6M | $169.1M | $18.0M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $177.2M | $161.6M | $17.2M |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $171.9M | $160.8M | $4.5M |
| American Balanced Fund | 2026-06-30 | $163.9M | $156.8M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $158.3M | $152.7M | -$739K |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $152.2M | $145.4M | -$96.3M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $164.8M | $144.9M | $5.9M |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $173.2M | $140.5M | $2.5M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $129.7M | $124.9M | $14.3M |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $144.0M | $115.2M | -$3.9M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $119.1M | $111.7M | $5.1M |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $127.6M | $111.5M | $6.9M |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $115.4M | $106.1M | -$34.6M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): VANGUARD WELLESLEY INCOME FUND ($22.6M), Transamerica Short-Term Bond ($16.5M), T. Rowe Price Short-Term Bond Fund, Inc. ($10.2M), VANGUARD LONG-TERM INVESTMENT-GRADE FUND ($9.2M), T. Rowe Price Institutional Floating Rate Fund ($8.9M), VANGUARD ULTRA-SHORT BOND ETF ($8.5M), Columbia Strategic Income Fund ($7.2M), JPMorgan Strategic Income Opportunities Fund ($4.8M), JOHNSON ENHANCED RETURN FUND ($4.8M), First Trust Smith Opportunistic Fixed Income ETF ($3.8M).
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 | $1.01B | $893.1M | 0.22% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 13 | $657.5M | $629.7M | 0.92% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 37 | $560.8M | $476.7M | 1.60% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 50 | $412.2M | $359.8M | 0.26% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 10 | $295.1M | $277.9M | 0.55% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 11 | $222.7M | $213.9M | 0.41% |
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 30 | $171.6M | $169.1M | 0.14% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 13 | $158.3M | $152.7M | 0.84% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 50 | $164.8M | $144.9M | 0.83% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 24 | $173.2M | $140.5M | 1.52% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 13 | $129.7M | $124.9M | 1.08% |
| DFCF Dimensional Core Fixed Income ETF | 2026-07-31 | 19 | $118.0M | $100.6M | 0.92% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 10 | $100.6M | $95.7M | 0.43% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 50 | $107.6M | $91.1M | 0.21% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 19 | $82.2M | $77.6M | 0.67% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.99: safer than 58% of companies (55th percentile in Communication Services). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $183.27B |
| Debt barrier (short-term + ½ long-term debt) | $98.34B |
| Equity volatility (1 year) | 26.9% |
| Asset value / asset volatility (solved) | $277.49B / 17.8% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 115 bp spread prices in about 1.9% 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'' = 1.21 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in VZ'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 | 601 | $2.06B | 3 | $1.5M | 4 | $10.1M | 0 |
| 2026-06-30 | 3,118 | $118.28B | 57 | $2.11B | 61 | $1.91B | 1 |
| 2026-03-31 | 3,233 | $115.81B | 52 | $2.26B | 56 | $2.43B | 0 |
| 2025-12-31 | 3,055 | $111.84B | 46 | $1.78B | 51 | $1.75B | 0 |
| 2025-09-30 | 2,992 | $119.33B | 50 | $1.76B | 57 | $1.80B | 1 |
| 2025-06-30 | 2,987 | $118.91B | 49 | $1.72B | 61 | $1.96B | 0 |
Officials trading VZ bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2023-07-05 | Ro Khanna | purchase | Verizon Communications Inc | $1,001 - $15,000 | filing |
| 2023-06-16 | Ro Khanna | purchase | Verizon Communications Inc | $15,001 - $50,000 | filing |
| 2023-05-26 | Zoe Lofgren | sale | Verizon Communications Inc | $1,001 - $15,000 | filing |
| 2022-09-30 | William R. Keating | purchase | Verizon Communications Inc 2.016% 12/03/2029 Ser C Note | $15,001 - $50,000 | filing |
| 2016-09-30 | Gary Peters | purchase | Verizon Communications Inc. Rate/Coupon: 2.625% Matures: 08/15/26 | $1,001 - $15,000 | filing |
| 2016-09-30 | Gary Peters | purchase | Verizon Communications Inc. | $1,001 - $15,000 | filing |
| 2016-09-30 | Gary Peters | purchase | Verizon Communications Inc. Rate/Coupon: 2.625% Matures: 08/15/26 | $1,001 - $15,000 | filing |
| 2016-09-30 | Gary C. Peters | purchase | Verizon Communications Inc. Rate/Coupon: 2.625% Matures: 08/15/26 | $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.