Wayfair Inc. bonds W
Who owns Wayfair 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. W 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 |
|---|---|---|---|---|---|---|---|---|---|
| 94419LAF8 convertible | 1% fixed | 2026-08-15 | USD | 98.14 | — | — | 3 | $4.4M | Jun 2026 |
| 94419LAP6 convertible | 3.25% fixed | 2027-09-15 | USD | 141.51 | — | — | 6 | $45.1M | Jul 2026 |
| 94419LAR2 convertible | 3.5% fixed | 2028-11-15 | USD | 166.55 | — | — | 2 | $1.3M | May 2026 |
| 94419NAA5 | 7.25% fixed | 2029-10-31 | USD | 102.98 | 6.22% | 195 bp | 55 | $127.5M | Jul 2026 |
| 94419NAB3 | 7.75% fixed | 2030-09-15 | USD | 104.77 | 6.41% | 211 bp | 44 | $115.1M | Jul 2026 |
| 94419NAC1 | 6.75% fixed | 2032-11-15 | USD | 101.88 | 6.38% | 196 bp | 51 | $96.6M | Jul 2026 |
| 94419NAD9 | 7.125% fixed | 2034-05-31 | USD | 102.74 | 6.67% | 217 bp | 48 | $68.8M | 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 |
|---|---|---|---|---|---|---|
| Aug 2026 partial: filings still arriving | 2 | $57K | 103.09 | 6.13% | 176 bp | 1 |
| Jul 2026 | 5 | $453.1M | 102.98 | 6.40% | 204 bp | 55 |
| Jun 2026 | 6 | $396.3M | 103.03 | 6.27% | 207 bp | 88 |
| May 2026 | 6 | $298.5M | 103.50 | 6.54% | 234 bp | 51 |
| Apr 2026 | 5 | $468.6M | 103.77 | 6.54% | 260 bp | 54 |
| Mar 2026 | 6 | $336.7M | 103.13 | 6.60% | 281 bp | 89 |
| Feb 2026 | 5 | $262.5M | 105.13 | 6.39% | 265 bp | 51 |
| Jan 2026 | 5 | $635.7M | 106.42 | 6.13% | 222 bp | 61 |
| Dec 2025 | 6 | $452.3M | 105.54 | 6.07% | 236 bp | 95 |
| Nov 2025 | 5 | $240.1M | 106.61 | 6.13% | 248 bp | 58 |
| Oct 2025 | 4 | $549.8M | 138.28 | 6.34% | 272 bp | 59 |
| Sep 2025 | 6 | $417.8M | 104.18 | 6.43% | 280 bp | 91 |
| Aug 2025 | 4 | $179.7M | 120.28 | 6.81% | 305 bp | 60 |
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. 171 added, 32 cut, 63 new holders and 40 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $120.6M | $124.7M | $30.4M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $58.1M | $60.1M | $23.3M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $54.3M | $55.9M | $11.7M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $33.8M | $34.7M | $1.5M |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $27.9M | $28.6M | $5.5M |
| Franklin Convertible Securities Fund Franklin Investors Securities Trust | 2026-07-31 | $18.8M | $26.4M | $0 |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $25.3M | $26.2M | $3.1M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $24.3M | $25.1M | $5.8M |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $23.7M | $24.4M | $4.4M |
| Franklin High Income Fund Franklin High Income Trust | 2026-06-30 | $23.5M | $24.4M | $0 |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $23.7M | $24.4M | $3.4M |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $22.3M | $23.4M | $12.2M |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $23.0M | $23.3M | $9.6M |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $20.6M | $21.2M | $9.7M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $18.8M | $19.5M | $2.2M |
| Weitz Core Plus Income Fund Weitz Funds | 2026-06-30 | $18.7M | $19.4M | $0 |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $12.2M | $17.5M | -$49.7M |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $16.5M | $17.0M | $1.4M |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $14.6M | $15.1M | $307K |
| Janus Henderson Multi-Sector Income Fund Janus Investment Fund | 2026-06-30 | $14.4M | $14.8M | $14.0M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $13.5M | $14.0M | $320K |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $12.2M | $12.6M | $2.4M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $10.6M | $10.9M | new |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $10.4M | $10.8M | $191K |
| Fidelity Total Bond ETF Fidelity Merrimack Street Trust | 2026-05-31 | $10.4M | $10.7M | $645K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): iShares Convertible Bond ETF ($13.4M), State Street(R) SPDR(R) Bloomberg Convertible Securities ETF ($11.7M), Fidelity Advisor Multi-Asset Income Fund ($5.0M), JNL/PPM America High Yield Bond Fund ($4.7M), Lord Abbett Core Plus Bond Fund ($4.3M), Virtus Income & Growth Fund ($3.7M), Virtus Convertible Fund ($3.5M), Nuveen High Yield Fund ($3.4M), State Street(R) Blackstone Senior Loan ETF ($3.3M), State Street(R) Blackstone High Income ETF ($3.3M).
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 |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 4 | $54.3M | $55.9M | 0.20% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 4 | $33.8M | $34.7M | 0.22% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 4 | $24.3M | $25.1M | 0.22% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 3 | $18.8M | $19.5M | 0.27% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 3 | $14.6M | $15.1M | 0.93% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $13.5M | $14.0M | 0.18% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $10.4M | $10.8M | 0.22% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 4 | $10.4M | $10.7M | 0.04% |
| FLHY Franklin High Yield Corporate ETF | 2026-06-30 | 3 | $9.5M | $9.9M | 0.84% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 3 | $8.2M | $8.5M | 0.38% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 4 | $7.8M | $8.0M | 0.23% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 4 | $5.2M | $5.3M | 0.22% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 2 | $4.1M | $4.2M | 0.81% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 3 | $3.8M | $3.9M | 0.15% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 2 | $3.6M | $3.7M | 0.22% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.61: safer than 33% of companies (31th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $15.33B |
| Debt barrier (short-term + ½ long-term debt) | $1.40B |
| Equity volatility (1 year) | 69.8% |
| Asset value / asset volatility (solved) | $16.67B / 64.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 204 bp spread prices in about 3.4% 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'' = -7.57 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in W'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 | 46 | $208.1M | 1 | $101.4M | 0 | — | 0 |
| 2026-06-30 | 443 | $11.15B | 36 | $683.7M | 33 | $1.35B | 32 |
| 2026-03-31 | 431 | $8.45B | 35 | $462.5M | 33 | $1.05B | 45 |
| 2025-12-31 | 468 | $12.29B | 40 | $1.08B | 36 | $1.41B | 51 |
| 2025-09-30 | 403 | $10.61B | 43 | $1.16B | 39 | $1.38B | 65 |
| 2025-06-30 | 322 | $6.05B | 38 | $707.4M | 37 | $751.2M | 84 |
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.