Waste Management, Inc. bonds WM
Who owns Waste Management, 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. WM 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 |
|---|---|---|---|---|---|---|---|---|---|
| 94106LBX6 | 4.95% fixed | 2027-07-03 | USD | 100.56 | 4.32% | 31 bp | 9 | $19.9M | Jul 2026 |
| 94106LBE8 | 3.15% fixed | 2027-11-15 | USD | 98.43 | 4.41% | 31 bp | 11 | $16.6M | Jul 2026 |
| 94106LBN8 | 1.15% fixed | 2028-03-15 | USD | 94.90 | 4.44% | 28 bp | 9 | $9.1M | Jul 2026 |
| 94106LCB3 | 4.5% fixed | 2028-03-15 | USD | 100.03 | 4.48% | 32 bp | 10 | $14.8M | Jul 2026 |
| 902917AH6 | 7% fixed | 2028-07-15 | USD | 104.48 | 4.58% | 37 bp | 1 | $1.5M | Jul 2026 |
| 94106LCA5 | 3.875% fixed | 2029-01-15 | USD | 98.24 | 4.64% | 40 bp | 9 | $10.0M | Jul 2026 |
| 94106LBV0 | 4.875% fixed | 2029-02-15 | USD | 100.53 | 4.65% | 41 bp | 13 | $10.1M | Jul 2026 |
| 94106LBQ1 | 2% fixed | 2029-06-01 | USD | 93.19 | 4.59% | 34 bp | 7 | $4.9M | Jul 2026 |
| 94106LBT5 | 4.625% fixed | 2030-02-15 | USD | 99.63 | 4.74% | 46 bp | 8 | $6.6M | Jul 2026 |
| 94106LCC1 | 4.65% fixed | 2030-03-15 | USD | 99.62 | 4.76% | 48 bp | 7 | $5.9M | Jul 2026 |
| 94106LBP3 | 1.5% fixed | 2031-03-15 | USD | 86.25 | 4.86% | 54 bp | 11 | $27.5M | Jul 2026 |
| 94106LBY4 | 4.95% fixed | 2031-07-03 | USD | 100.34 | 4.87% | 54 bp | 9 | $6.8M | Jul 2026 |
| 94106LCD9 | 4.8% fixed | 2032-03-15 | USD | 99.49 | 4.90% | 53 bp | 7 | $5.8M | Jul 2026 |
| 94106LBS7 | 4.15% fixed | 2032-04-15 | USD | 96.46 | 4.87% | 49 bp | 7 | $6.7M | Jul 2026 |
| 94106LBU2 | 4.625% fixed | 2033-02-15 | USD | 97.83 | 5.02% | 59 bp | 7 | $3.7M | Jul 2026 |
| 94106LBW8 | 4.875% fixed | 2034-02-15 | USD | 98.81 | 5.07% | 58 bp | 10 | $8.2M | Jul 2026 |
| 94106LBB4 | 3.9% fixed | 2035-03-01 | USD | 90.98 | 5.22% | 68 bp | 1 | $27K | Jul 2026 |
| 94106LCE7 | 4.95% fixed | 2035-03-15 | USD | 97.98 | 5.24% | 71 bp | 12 | $19.7M | Jul 2026 |
| 94106LBR9 | 2.95% fixed | 2041-06-01 | USD | 73.22 | 5.64% | 79 bp | 2 | $977K | Jul 2026 |
| 94106LBC2 | 4.1% fixed | 2045-03-01 | USD | 80.65 | 5.82% | 78 bp | 2 | $847K | Jul 2026 |
| 94106LBK4 | 4.15% fixed | 2049-07-15 | USD | 77.84 | 5.93% | 82 bp | 6 | $1.2M | Jul 2026 |
| 94106LBM0 | 2.5% fixed | 2050-11-15 | USD | 57.13 | 5.82% | 71 bp | 4 | $774K | Jul 2026 |
| 94106LCF4 | 5.35% fixed | 2054-10-15 | USD | 92.10 | 5.93% | 83 bp | 9 | $18.3M | 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 | 23 | $199.9M | 97.98 | 4.87% | 54 bp | 13 |
| Jun 2026 | 22 | $734.2M | 98.92 | 4.63% | 40 bp | 32 |
| May 2026 | 23 | $682.4M | 98.83 | 4.58% | 40 bp | 21 |
| Apr 2026 | 23 | $220.6M | 99.01 | 4.50% | 54 bp | 13 |
| Mar 2026 | 21 | $731.7M | 99.01 | 4.47% | 57 bp | 36 |
| Feb 2026 | 23 | $795.4M | 100.16 | 4.04% | 35 bp | 23 |
| Jan 2026 | 23 | $204.8M | 99.86 | 4.27% | 44 bp | 14 |
| Dec 2025 | 21 | $742.8M | 99.88 | 4.24% | 50 bp | 32 |
| Nov 2025 | 23 | $755.5M | 99.76 | 4.17% | 45 bp | 25 |
| Oct 2025 | 24 | $218.2M | 99.63 | 4.27% | 59 bp | 15 |
| Sep 2025 | 22 | $822.9M | 99.47 | 4.27% | 55 bp | 37 |
| Aug 2025 | 24 | $785.2M | 99.14 | 4.28% | 48 bp | 25 |
| Jul 2025 | 24 | $239.1M | 98.71 | 4.51% | 47 bp | 15 |
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. 54 added, 51 cut, 7 new holders and 33 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 | $196.2M | $185.6M | $6.2M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $159.9M | $152.6M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $151.8M | $151.3M | -$69.7M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $110.9M | $110.4M | $8.3M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $73.3M | $69.7M | -$60K |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $59.8M | $59.0M | -$16.0M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $54.1M | $53.9M | $1.4M |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $44.6M | $44.5M | -$5.5M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $43.8M | $42.9M | $6.3M |
| State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $34.0M | $33.7M | $9.5M |
| Schwab 5-10 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $30.4M | $30.4M | -$2.0M |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $31.3M | $29.9M | -$561K |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $27.3M | $27.3M | $1.2M |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $25.4M | $24.8M | $2.5M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $22.1M | $20.1M | $0 |
| DFA Short-Term Extended Quality Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $22.8M | $19.7M | $0 |
| MFS Total Return Fund MFS Series Trust V | 2026-06-30 | $19.5M | $19.6M | $0 |
| College Retirement Equities Fund - Core Bond Account College Retirement Equities Fund | 2026-06-30 | $19.0M | $19.0M | $0 |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $19.6M | $18.3M | $2.0M |
| Invesco BulletShares 2027 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $15.2M | $15.2M | $208K |
| THE HARTFORD BALANCED INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $14.6M | $14.3M | -$19.2M |
| VANGUARD LONG-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $14.9M | $13.7M | -$2.0M |
| iShares iBonds Dec 2029 Term Corporate ETF iShares Trust | 2026-07-31 | $13.2M | $12.9M | $591K |
| Invesco BulletShares 2028 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $12.4M | $12.2M | $156K |
| SIIT LIMITED DURATION BOND FUND SEI INSTITUTIONAL INVESTMENTS TRUST | 2026-05-31 | $12.0M | $12.1M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Bond Fund ($12.8M), AB Core Bond Portfolio ($10.1M), VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND ($6.7M), Victory Pioneer Short Term Income Fund ($2.9M), Income Fund of America ($2.5M), Capital Income Builder ($2.5M), American Funds Corporate Bond Fund ($2.2M), AB Core Bond ETF ($1.9M), Select Bond Trust ($1.5M), DIAMOND HILL CORE BOND FUND ($1.4M).
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 | 15 | $196.2M | $185.6M | 0.05% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 6 | $151.8M | $151.3M | 0.22% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 9 | $110.9M | $110.4M | 0.22% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 21 | $73.3M | $69.7M | 0.05% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 8 | $59.8M | $59.0M | 0.20% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 6 | $54.1M | $53.9M | 0.10% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 7 | $44.6M | $44.5M | 0.24% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 11 | $43.8M | $42.9M | 0.19% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 7 | $34.0M | $33.7M | 0.32% |
| SCHI Schwab 5-10 Year Corporate Bond ETF | 2026-06-30 | 6 | $30.4M | $30.4M | 0.26% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 23 | $31.3M | $29.9M | 0.17% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 7 | $27.3M | $27.3M | 0.04% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 14 | $25.4M | $24.8M | 0.21% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 21 | $19.6M | $18.3M | 0.04% |
| BSCR Invesco BulletShares 2027 Corporate Bond ETF | 2026-05-31 | 2 | $15.2M | $15.2M | 0.33% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 11.78: safer than 86% of companies (87th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $90.67B |
| Debt barrier (short-term + ½ long-term debt) | $12.22B |
| Equity volatility (1 year) | 20.6% |
| Asset value / asset volatility (solved) | $102.38B / 18.3% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 54 bp spread prices in about 0.9% 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'' = 2.12 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in WM'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 | 410 | $2.40B | 0 | — | 1 | $367K | 0 |
| 2026-06-30 | 2,346 | $72.17B | 27 | $276.6M | 27 | $370.1M | 2 |
| 2026-03-31 | 2,331 | $63.08B | 27 | $219.9M | 29 | $352.1M | 4 |
| 2025-12-31 | 2,282 | $70.10B | 31 | $284.7M | 33 | $372.5M | 3 |
| 2025-09-30 | 2,142 | $69.68B | 27 | $244.3M | 40 | $484.5M | 2 |
| 2025-06-30 | 2,183 | $72.68B | 34 | $410.0M | 42 | $493.1M | 3 |
Officials trading WM bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2020-07-20 | Zoe Lofgren | sale full | Waste Management, Inc. Corporate Bond | $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.