Zscaler, Inc. bonds ZS
Who owns Zscaler, 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. ZS 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 |
|---|---|---|---|---|---|---|---|---|---|
| 98980GAC6 convertible | 0% none | 2028-07-15 | USD | 92.39 | — | — | 20 | $55.2M | Jun 2026 |
| 98980GAD4 | 0% none | 2028-07-15 | USD | 92.84 | — | — | 16 | $90.9M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Not enough US-dollar bonds with a yield.
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 | 1 | $90.9M | 92.84 | — | — | 16 |
| Jun 2026 | 1 | $55.2M | 92.39 | — | — | 20 |
| May 2026 | 1 | $40.3M | 91.85 | — | — | 7 |
| Apr 2026 | 1 | $87.9M | 90.91 | — | — | 21 |
| Mar 2026 | 1 | $60.4M | 90.97 | — | — | 17 |
| Feb 2026 | 1 | $22.2M | 91.60 | — | — | 6 |
| Jan 2026 | 1 | $105.5M | 93.04 | — | — | 23 |
| Dec 2025 | 1 | $63.3M | 93.61 | — | — | 20 |
| Nov 2025 | 1 | $44.0M | 95.55 | — | — | 9 |
| Oct 2025 | 1 | $108.4M | 103.25 | — | — | 22 |
| Sep 2025 | 1 | $65.3M | 99.23 | — | — | 20 |
| Aug 2025 | 1 | $38.6M | 97.31 | — | — | 6 |
| Jul 2025 | 1 | $57.5M | 97.68 | — | — | 22 |
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. 12 added, 3 cut, 7 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $35.3M | $32.8M | $6.4M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $25.7M | $23.7M | $4.0M |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $25.0M | $23.2M | $0 |
| Lord Abbett Convertible Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $15.3M | $14.1M | new |
| Eaton Vance Income Fund of Boston Eaton Vance Series Trust II | 2026-07-31 | $11.3M | $10.5M | $0 |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $10.4M | $9.6M | $0 |
| JPMorgan Strategic Income Opportunities Fund JPMorgan Trust I | 2026-05-31 | $8.9M | $8.2M | $3.7M |
| NYLI MacKay Convertible Fund NEW YORK LIFE INVESTMENTS FUNDS | 2026-07-31 | $8.5M | $7.9M | $0 |
| NYLIM VP MacKay Convertible Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $8.1M | $7.5M | $0 |
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $7.5M | $6.9M | $0 |
| Franklin Mutual Quest Fund Franklin Mutual Series Funds | 2026-06-30 | $7.5M | $6.9M | $0 |
| HIGH INCOME OPPORTUNITIES PORTFOLIO High Income Opportunities Portfolio | 2026-07-31 | $5.3M | $4.9M | $0 |
| WATER ISLAND CREDIT OPPORTUNITIES FUND ARBITRAGE FUNDS | 2026-05-31 | $5.0M | $4.6M | $1.0M |
| Global Opportunities Portfolio | 2026-07-31 | $4.3M | $4.0M | $0 |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $3.9M | $3.6M | -$465K |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $2.7M | $2.5M | $0 |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $1.7M | $1.6M | $0 |
| Eaton Vance Ltd Duration Income Fund | 2026-06-30 | $1.6M | $1.5M | new |
| Calvert High Yield Bond Fund Calvert Fund | 2026-06-30 | $1.5M | $1.4M | new |
| Multi-Asset Strategy Fund RUSSELL INVESTMENT CO | 2026-07-31 | $1.4M | $1.3M | $814K |
| Calvert Bond Fund Calvert Social Investment Fund | 2026-06-30 | $1.3M | $1.2M | $0 |
| Morningstar Alternatives Fund Morningstar Funds Trust | 2026-07-31 | $972K | $903K | $578K |
| Eaton Vance Total Return Bond Fund Eaton Vance Mutual Funds Trust | 2026-06-30 | $900K | $832K | $0 |
| Multi-Strategy Income Fund RUSSELL INVESTMENT CO | 2026-07-31 | $853K | $791K | $494K |
| Palmer Square Income Plus Fund Palmer Square Funds Trust | 2026-06-30 | $825K | $763K | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Virtus Income & Growth Fund ($8.0M), Virtus Convertible Fund ($7.6M), Virtus Convertible & Income Fund ($2.0M), Virtus Equity & Convertible Income Fund ($1.6M), Virtus Dividend, Interest & Premium Strategy Fund ($1.6M), Virtus Convertible & Income Fund II ($1.6M), Virtus Diversified Income & Convertible Fund ($1.2M), Harbor Ares Systematic Convertible Securities Fund ($100K).
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.
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.18: safer than 51% of companies (49th percentile in Technology). Market-implied, prices to 2026-10-16, balance sheet 2026-07-31.
| Equity value | $34.63B |
| Debt barrier (short-term + ½ long-term debt) | $848.2M |
| Equity volatility (1 year) | 70.0% |
| Asset value / asset volatility (solved) | $35.45B / 68.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
No US-dollar bond with a yield to compute it from.
Accounts: Altman Z
Altman Z'' = 1.72 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ZS'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 | 101 | $223.7M | 1 | $2.9M | 3 | $4.3M | 1 |
| 2026-06-30 | 734 | $11.24B | 45 | $1.33B | 57 | $1.40B | 2 |
| 2026-03-31 | 735 | $10.13B | 33 | $852.6M | 47 | $892.8M | 0 |
| 2025-12-31 | 872 | $18.51B | 42 | $1.42B | 48 | $1.34B | 1 |
| 2025-09-30 | 897 | $23.13B | 43 | $1.89B | 46 | $1.77B | 2 |
| 2025-06-30 | 895 | $25.06B | 45 | $1.97B | 51 | $1.93B | 4 |
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.