Warner Music Group Corp. bonds WMG
Who owns Warner Music Group Corp.'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. WMG 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 |
|---|---|---|---|---|---|---|---|---|---|
| 92933BAT1 | 3.75% fixed | 2029-12-01 | USD | 95.28 | 5.31% | 104 bp | 11 | $26.8M | Jul 2026 |
| 92933BAQ7 | 3.875% fixed | 2030-07-15 | USD | 94.22 | 5.52% | 123 bp | 12 | $53.7M | Jul 2026 |
| 92933BAR5 | 3% fixed | 2031-02-15 | USD | 91.62 | 5.09% | 78 bp | 5 | $16.9M | 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 | 3 | $97.4M | 94.22 | 5.31% | 104 bp | 12 |
| Jun 2026 | 3 | $62.2M | 94.79 | 5.11% | 95 bp | 19 |
| May 2026 | 3 | $49.9M | 94.86 | 5.27% | 118 bp | 9 |
| Apr 2026 | 3 | $102.8M | 94.32 | 5.31% | 146 bp | 12 |
| Mar 2026 | 3 | $75.8M | 94.03 | 5.20% | 143 bp | 18 |
| Feb 2026 | 3 | $48.6M | 95.98 | 4.86% | 127 bp | 8 |
| Jan 2026 | 3 | $103.8M | 96.03 | 4.83% | 114 bp | 14 |
| Dec 2025 | 3 | $104.7M | 95.97 | 4.78% | 117 bp | 17 |
| Nov 2025 | 3 | $33.8M | 95.32 | 4.94% | 132 bp | 7 |
| Oct 2025 | 3 | $110.1M | 95.41 | 4.93% | 134 bp | 15 |
| Sep 2025 | 3 | $103.7M | 94.91 | 4.97% | 135 bp | 22 |
| Aug 2025 | 3 | $32.0M | 94.91 | 5.04% | 126 bp | 8 |
| Jul 2025 | 3 | $115.8M | 93.40 | 5.34% | 142 bp | 17 |
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. 13 added, 6 cut, 2 new holders and 7 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Income Fund of America | 2026-07-31 | $42.6M | $40.0M | $0 |
| American High Income Trust | 2026-06-30 | $35.9M | $34.2M | -$14.3M |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $26.1M | $24.7M | $0 |
| MFS Corporate Bond Fund MFS Series Trust IX | 2026-07-31 | $24.2M | $23.0M | $1.7M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $10.0M | $9.5M | $3.8M |
| MFS Total Return Bond Fund MFS Series Trust IX | 2026-07-31 | $9.3M | $8.5M | $0 |
| Victory Core Plus Intermediate Bond Fund Victory Portfolios III | 2026-07-31 | $7.5M | $7.1M | -$8.1M |
| Frost Low Duration Bond Fund Frost Family of Funds | 2026-07-31 | $6.5M | $6.2M | $0 |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $5.1M | $4.9M | $0 |
| Investment Grade Bond Fund John Hancock Bond Trust | 2026-05-31 | $4.2M | $4.0M | $0 |
| PIMCO Investment Grade Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $3.8M | $3.6M | $0 |
| PIMCO Credit Opportunities Bond Fund PIMCO FUNDS | 2026-06-30 | $3.5M | $3.4M | $2.0M |
| Short Duration Bond Fund John Hancock Bond Trust | 2026-05-31 | $3.1M | $3.0M | $629K |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $3.1M | $2.9M | $50K |
| John Hancock Core Bond ETF John Hancock Exchange-Traded Fund Trust | 2026-06-30 | $2.8M | $2.7M | $134K |
| Balanced Fund John Hancock Investment Trust | 2026-07-31 | $2.8M | $2.7M | $297K |
| Strategic Bond Fund RUSSELL INVESTMENT CO | 2026-07-31 | $2.5M | $2.4M | $0 |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $2.3M | $2.2M | $140K |
| John Hancock Managed Account Shares Investment-Grade Corporate Bond Portfolio John Hancock Strategic Series | 2026-05-31 | $2.1M | $1.9M | $0 |
| JPMorgan Active High Yield ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $1.9M | $1.7M | $0 |
| SHELTON TACTICAL FUND SCM Trust | 2026-06-30 | $1.8M | $1.6M | $0 |
| MFS Total Return Bond Series MFS VARIABLE INSURANCE TRUST | 2026-06-30 | $1.6M | $1.5M | $0 |
| John Hancock Corporate Bond ETF John Hancock Exchange-Traded Fund Trust | 2026-06-30 | $1.4M | $1.4M | $28K |
| PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $1.4M | $1.3M | $0 |
| MFS Diversified Income Fund MFS Series Trust XIII | 2026-05-31 | $1.4M | $1.3M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Lord Abbett Short Duration Income Fund ($2.4M), iShares 5-10 Year Investment Grade Corporate Bond ETF ($380K), Lord Abbett Inflation Focused Fund ($44K), JNL/Lord Abbett Short Duration Income Fund ($39K), Six Circles Credit Opportunities Fund ($28K), iShares Core 5-10 Year USD Bond ETF ($11K), Short Duration Income Portfolio ($9K).
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 |
|---|---|---|---|---|---|
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $10.0M | $9.5M | 0.04% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 3 | $3.1M | $2.9M | 0.01% |
| JHCR John Hancock Core Bond ETF | 2026-06-30 | 1 | $2.8M | $2.7M | 0.12% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $2.3M | $2.2M | 0.01% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 1 | $1.9M | $1.7M | 0.08% |
| JHCB John Hancock Corporate Bond ETF | 2026-06-30 | 1 | $1.4M | $1.4M | 1.25% |
| CORP PIMCO Investment Grade Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 2 | $1.4M | $1.3M | 0.08% |
| ISTB iShares Core 1-5 Year USD Bond ETF | 2026-07-31 | 3 | $545K | $515K | 0.01% |
| UBND VictoryShares Core Plus Bond ETF | 2026-06-30 | 1 | $348K | $330K | 0.02% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 1 | $287K | $272K | 0.01% |
| UNIY WisdomTree VOYA Yield Enhanced USD Universal Bond Fund | 2026-05-31 | 1 | $171K | $158K | 0.01% |
| JHCP John Hancock Core Plus Bond ETF | 2026-06-30 | 1 | $78K | $74K | 0.06% |
| ODHY Obra Defensive High Yield ETF | 2026-06-30 | 1 | $40K | $37K | 0.73% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 6.72: safer than 64% of companies (61th percentile in Communication Services). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $16.27B |
| Debt barrier (short-term + ½ long-term debt) | $2.35B |
| Equity volatility (1 year) | 34.9% |
| Asset value / asset volatility (solved) | $18.52B / 30.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 104 bp spread prices in about 1.7% 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'' = -0.31 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in WMG'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 | 33 | $11.5M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 326 | $4.18B | 4 | $106.4M | 11 | $52.4M | 0 |
| 2026-03-31 | 302 | $3.47B | 7 | $6.1M | 9 | $50.8M | 0 |
| 2025-12-31 | 292 | $4.50B | 6 | $2.1M | 10 | $59.1M | 0 |
| 2025-09-30 | 289 | $5.10B | 7 | $7.9M | 9 | $63.8M | 0 |
| 2025-06-30 | 249 | $4.02B | 8 | $5.4M | 11 | $60.7M | 0 |
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.