Westinghouse Air Brake Technologies Corporation bonds WAB
Who owns Westinghouse Air Brake Technologies 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. WAB 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 |
|---|---|---|---|---|---|---|---|---|---|
| 960386AL4 | 3.45% fixed | 2026-11-15 | USD | 99.66 | 4.63% | 88 bp | 8 | $86.1M | Jul 2026 |
| 960386AM2 | 4.95% fixed | 2028-09-15 | USD | 99.87 | 5.01% | 79 bp | 32 | $79.4M | Jul 2026 |
| 960386AS9 | 4.9% fixed | 2030-05-29 | USD | 99.71 | 4.98% | 69 bp | 24 | $39.8M | Jul 2026 |
| 960386AR1 | 5.611% fixed | 2034-03-11 | USD | 101.09 | 5.43% | 94 bp | 15 | $26.2M | Jul 2026 |
| 960386AT7 | 5.5% fixed | 2035-05-29 | USD | 100.06 | 5.49% | 94 bp | 11 | $21.0M | 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 | 5 | $252.6M | 99.87 | 5.22% | 87 bp | 32 |
| Jun 2026 | 5 | $475.7M | 100.64 | 5.04% | 78 bp | 54 |
| May 2026 | 5 | $214.5M | 100.94 | 4.98% | 76 bp | 28 |
| Apr 2026 | 5 | $249.3M | 101.18 | 4.97% | 94 bp | 34 |
| Mar 2026 | 5 | $475.9M | 101.08 | 4.99% | 103 bp | 54 |
| Feb 2026 | 5 | $232.9M | 102.98 | 4.49% | 72 bp | 28 |
| Jan 2026 | 5 | $239.5M | 102.14 | 4.66% | 83 bp | 31 |
| Dec 2025 | 5 | $474.1M | 102.31 | 4.65% | 84 bp | 50 |
| Nov 2025 | 5 | $238.0M | 102.53 | 4.59% | 78 bp | 30 |
| Oct 2025 | 5 | $191.0M | 102.26 | 4.50% | 93 bp | 30 |
| Sep 2025 | 5 | $513.6M | 102.21 | 4.44% | 88 bp | 48 |
| Aug 2025 | 5 | $246.3M | 102.24 | 4.49% | 82 bp | 30 |
| Jul 2025 | 5 | $199.7M | 101.17 | 4.77% | 84 bp | 29 |
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. 45 added, 41 cut, 6 new holders and 6 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Navigator Tactical Fixed Income Fund Northern Lights Fund Trust | 2026-07-31 | $61.6M | $61.4M | $0 |
| Baird Short-Term Bond Fund Baird Funds Inc | 2026-06-30 | $53.0M | $53.1M | $0 |
| AST Multi-Sector Fixed Income Portfolio Advanced Series Trust | 2026-06-30 | $45.1M | $45.1M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $38.1M | $39.1M | -$5.6M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $33.1M | $32.9M | $0 |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $32.1M | $32.4M | $0 |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $30.0M | $30.1M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $28.3M | $28.2M | -$18.7M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $25.4M | $25.5M | $30K |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $23.1M | $23.1M | -$3.7M |
| MFS Total Return Bond Fund MFS Series Trust IX | 2026-07-31 | $21.3M | $21.3M | $0 |
| Baird Ultra Short Bond Fund Baird Funds Inc | 2026-06-30 | $19.0M | $18.9M | $0 |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $17.8M | $18.1M | $0 |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $17.1M | $17.0M | $0 |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $16.8M | $16.8M | $0 |
| PIMCO Investment Grade Credit Bond Fund PIMCO FUNDS | 2026-06-30 | $15.9M | $15.9M | $0 |
| Invesco Equity and Income Fund AIM Counselor Series Trust (Invesco Counselor Series Trust) | 2026-05-31 | $14.7M | $15.0M | $0 |
| MFS Corporate Bond Fund MFS Series Trust IX | 2026-07-31 | $14.7M | $14.8M | -$4.5M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $13.6M | $13.7M | -$825K |
| DoubleLine Low Duration Bond Fund DoubleLine Funds Trust | 2026-06-30 | $13.4M | $13.5M | $2.1M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $13.0M | $13.3M | $305K |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $13.1M | $13.1M | $0 |
| CrossingBridge Low Duration High Income Fund Trust for Professional Managers | 2026-06-30 | $12.7M | $12.6M | new |
| Invesco BulletShares 2026 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $12.4M | $12.4M | $3.5M |
| Strategic Advisers Core Income Fund Fidelity Rutland Square Trust II | 2026-05-31 | $11.8M | $11.8M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Inspire Corporate Bond ETF ($3.0M), Muzinich Dynamic Income Fund ($260K), iShares Investment Grade Systematic Bond ETF ($160K), BlackRock Bond Income Portfolio ($100K), F/m 3-Year Investment Grade Corporate Bond ETF ($91K), Goldman Sachs Access Investment Grade Corporate 1-5 Year Bond ETF ($11K).
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 |
|---|---|---|---|---|---|
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $38.1M | $39.1M | 0.06% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 3 | $25.4M | $25.5M | 0.01% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $23.1M | $23.1M | 0.05% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 4 | $13.6M | $13.7M | 0.01% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $13.0M | $13.3M | 0.03% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 2 | $13.1M | $13.1M | 0.02% |
| BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 2026-05-31 | 1 | $12.4M | $12.4M | 0.33% |
| IBDR iShares iBonds Dec 2026 Term Corporate ETF | 2026-07-31 | 1 | $10.6M | $10.5M | 0.31% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $10.5M | $10.5M | 0.05% |
| BSCS Invesco BulletShares 2028 Corporate Bond ETF | 2026-05-31 | 1 | $10.3M | $10.3M | 0.30% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $9.2M | $9.4M | 0.05% |
| IBDT iShares iBonds Dec 2028 Term Corporate ETF | 2026-07-31 | 1 | $9.3M | $9.3M | 0.23% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 2 | $6.7M | $6.9M | 0.06% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 1 | $6.0M | $6.0M | 0.06% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 4 | $5.9M | $6.0M | 0.05% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 10.72: safer than 84% of companies (84th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $48.41B |
| Debt barrier (short-term + ½ long-term debt) | $4.15B |
| Equity volatility (1 year) | 25.7% |
| Asset value / asset volatility (solved) | $52.39B / 23.8% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 87 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'' = 2.38 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in WAB'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 | 157 | $672.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 1,181 | $39.33B | 12 | $68.6M | 8 | $25.3M | 0 |
| 2026-03-31 | 1,143 | $30.65B | 13 | $13.5M | 9 | $23.6M | 0 |
| 2025-12-31 | 1,112 | $30.64B | 4 | $11.4M | 7 | $15.0M | 0 |
| 2025-09-30 | 1,081 | $29.62B | 7 | $18.0M | 7 | $32.0M | 0 |
| 2025-06-30 | 1,104 | $30.80B | 10 | $26.6M | 10 | $26.8M | 1 |
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.