Energy Transfer LP bonds ET
Who owns Energy Transfer LP'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. ET 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 |
|---|---|---|---|---|---|---|---|---|---|
| 29273VAN0 | 6.5% fixed | 2026-11-15 | USD | 100.03 | 6.34% | 259 bp | 32 | $101.0M | Jul 2026 |
| 29273VAR1 | 6.05% fixed | 2026-12-01 | USD | 100.42 | 4.76% | 99 bp | 18 | $157.1M | Jul 2026 |
| 292480AK6 | 4.4% fixed | 2027-03-15 | USD | 99.99 | 4.41% | 52 bp | 13 | $112.7M | Jul 2026 |
| 29273RBK4 | 4.2% fixed | 2027-04-15 | USD | 99.84 | 4.43% | 50 bp | 5 | $7.0M | Jul 2026 |
| 29273VAF7 | 5.5% fixed | 2027-06-01 | USD | 100.52 | 4.85% | 87 bp | 1 | $16.8M | Jul 2026 |
| 29278NAN3 | 5.5% fixed | 2027-06-01 | USD | 100.59 | 4.77% | 79 bp | 10 | $34.8M | Jul 2026 |
| 86765BAU3 | 4% fixed | 2027-10-01 | USD | 99.32 | 4.60% | 52 bp | 15 | $39.4M | Jul 2026 |
| 29273VAP5 | 5.55% fixed | 2028-02-15 | USD | 101.24 | 4.71% | 56 bp | 27 | $116.0M | Jul 2026 |
| 29273VAJ9 | 6.625% fixed | 2028-02-15 | USD | 100.40 | 6.35% | 221 bp | 22 | $49.3M | Jul 2026 |
| 292480AL4 | 4.95% fixed | 2028-05-15 | USD | 100.32 | 4.76% | 57 bp | 15 | $89.8M | Jul 2026 |
| 29278NAF0 | 4.95% fixed | 2028-06-15 | USD | 100.36 | 4.74% | 54 bp | 18 | $39.2M | Jul 2026 |
| 29273VAS9 | 6.1% fixed | 2028-12-01 | USD | 102.78 | 4.82% | 59 bp | 16 | $48.6M | Jul 2026 |
| 226373AR9 | 6% fixed | 2029-02-01 | USD | 100.55 | 5.76% | 152 bp | 9 | $56.7M | Jul 2026 |
| 29278NAG8 | 5.25% fixed | 2029-04-15 | USD | 100.90 | 4.89% | 64 bp | 16 | $126.8M | Jul 2026 |
| 29273VAZ3 | 5.25% fixed | 2029-07-01 | USD | 101.14 | 4.82% | 57 bp | 27 | $79.4M | Jul 2026 |
| 292480AM2 | 4.15% fixed | 2029-09-15 | USD | 97.85 | 4.90% | 63 bp | 17 | $73.3M | Jul 2026 |
| 29273RBC2 | 8.25% fixed | 2029-11-15 | USD | 108.99 | 5.24% | 97 bp | 4 | $10.5M | Jul 2026 |
| 29273VBD1 | 5.2% fixed | 2030-04-01 | USD | 100.71 | 4.98% | 70 bp | 21 | $43.9M | Jul 2026 |
| 29278NAQ6 | 3.75% fixed | 2030-05-15 | USD | 95.74 | 4.99% | 71 bp | 19 | $18.8M | Jul 2026 |
| 29273VAM2 | 7.125% fixed | 2030-05-15 | USD | 102.55 | 6.35% | 206 bp | 33 | $195.2M | Jul 2026 |
| 29273VAT7 | 6.4% fixed | 2030-12-01 | USD | 104.95 | 5.11% | 80 bp | 19 | $40.0M | Jul 2026 |
| 29273VBJ8 | 4.55% fixed | 2031-01-15 | USD | 97.88 | 5.09% | 78 bp | 24 | $66.1M | Jul 2026 |
| 226373AT5 | 7.375% fixed | 2031-02-01 | USD | 102.75 | 6.66% | 235 bp | 8 | $44.8M | Jul 2026 |
| 29273VAQ3 | 5.75% fixed | 2033-02-15 | USD | 102.12 | 5.36% | 93 bp | 18 | $112.8M | Jul 2026 |
| 29273VAU4 | 6.55% fixed | 2033-12-01 | USD | 106.50 | 5.46% | 99 bp | 22 | $101.6M | Jul 2026 |
| 29273VAY6 | 5.55% fixed | 2034-05-15 | USD | 99.91 | 5.56% | 107 bp | 15 | $39.6M | Jul 2026 |
| 29273VBA7 | 5.6% fixed | 2034-09-01 | USD | 100.26 | 5.56% | 105 bp | 17 | $14.7M | Jul 2026 |
| 29273RBE8 | 4.9% fixed | 2035-03-15 | USD | 95.14 | 5.62% | 108 bp | 6 | $4.8M | Jul 2026 |
| 29273VBE9 | 5.7% fixed | 2035-04-01 | USD | 100.67 | 5.60% | 106 bp | 12 | $42.2M | Jul 2026 |
| 29273VBK5 | 5.35% fixed | 2036-01-15 | USD | 97.73 | 5.66% | 109 bp | 27 | $70.4M | Jul 2026 |
| 29273RAF6 | 6.625% fixed | 2036-10-15 | USD | 106.07 | 5.83% | 122 bp | 9 | $7.7M | Jul 2026 |
| 29278NAD5 | 5.8% fixed | 2038-06-15 | USD | 99.55 | 5.85% | 116 bp | 10 | $13.5M | Jul 2026 |
| 29273RAJ8 | 7.5% fixed | 2038-07-01 | USD | 112.63 | 6.00% | 130 bp | 11 | $9.1M | Jul 2026 |
| 86765BAH2 | 6.85% fixed | 2040-02-15 | USD | 104.87 | 6.31% | 153 bp | 4 | $1.9M | Jul 2026 |
| 29273RAP4 | 6.05% fixed | 2041-06-01 | USD | 98.96 | 6.16% | 131 bp | 12 | $26.5M | Jul 2026 |
| 29273RAR0 | 6.5% fixed | 2042-02-01 | USD | 102.46 | 6.25% | 137 bp | 19 | $30.6M | Jul 2026 |
| 86765BAK5 | 6.1% fixed | 2042-02-15 | USD | 97.41 | 6.36% | 148 bp | 8 | $5.2M | Jul 2026 |
| 86765BAM1 | 4.95% fixed | 2043-01-15 | USD | 85.67 | 6.37% | 144 bp | 8 | $1.5M | Jul 2026 |
| 29273RAT6 | 5.15% fixed | 2043-02-01 | USD | 87.21 | 6.42% | 149 bp | 12 | $5.5M | Jul 2026 |
| 29273RAZ2 | 5.95% fixed | 2043-10-01 | USD | 94.78 | 6.46% | 149 bp | 11 | $7.2M | Jul 2026 |
| 86765BAP4 | 5.3% fixed | 2044-04-01 | USD | 88.12 | 6.43% | 144 bp | 12 | $12.5M | Jul 2026 |
| 292480AJ9 | 5% fixed | 2044-05-15 | USD | 84.55 | 6.47% | 148 bp | 6 | $1.2M | Jul 2026 |
| 29273RBF5 | 5.15% fixed | 2045-03-15 | USD | 86.32 | 6.42% | 138 bp | 16 | $16.7M | Jul 2026 |
| 86765BAQ2 | 5.35% fixed | 2045-05-15 | USD | 87.43 | 6.52% | 147 bp | 11 | $5.2M | Jul 2026 |
| 29273RBJ7 | 6.125% fixed | 2045-12-15 | USD | 95.95 | 6.49% | 142 bp | 12 | $13.3M | Jul 2026 |
| 29273RBL2 | 5.3% fixed | 2047-04-15 | USD | 86.27 | 6.52% | 141 bp | 11 | $13.0M | Jul 2026 |
| 86765BAV1 | 5.4% fixed | 2047-10-01 | USD | 87.17 | 6.53% | 142 bp | 14 | $20.9M | Jul 2026 |
| 29278NAE3 | 6% fixed | 2048-06-15 | USD | 93.42 | 6.57% | 146 bp | 9 | $17.0M | Jul 2026 |
| 29279FAA7 | 6.25% fixed | 2049-04-15 | USD | 96.18 | 6.58% | 147 bp | 14 | $41.4M | Jul 2026 |
| 29278NAR4 | 5% fixed | 2050-05-15 | USD | 81.08 | 6.58% | 148 bp | 18 | $28.2M | Jul 2026 |
| 29273VAW0 | 5.95% fixed | 2054-05-15 | USD | 91.81 | 6.60% | 149 bp | 24 | $32.1M | Jul 2026 |
| 29273VAX8 | 8% fixed | 2054-05-15 | USD | 104.95 | 7.57% | 247 bp | 43 | $59.7M | Jul 2026 |
| 29273VBB5 | 6.05% fixed | 2054-09-01 | USD | 92.94 | 6.61% | 150 bp | 7 | $2.9M | Jul 2026 |
| 29273VBC3 | 7.125% fixed | 2054-10-01 | USD | 102.15 | 6.95% | 185 bp | 33 | $36.0M | Jul 2026 |
| 29273VBF6 | 6.2% fixed | 2055-04-01 | USD | 94.89 | 6.60% | 150 bp | 9 | $3.6M | Jul 2026 |
| 29273VBL3 | 6.3% fixed | 2056-01-15 | USD | 96.31 | 6.58% | 148 bp | 13 | $11.4M | Jul 2026 |
| 29273VBG4 | 6.5% variable | 2056-02-15 | USD | 100.01 | — | — | 44 | $112.4M | Jul 2026 |
| 29273VBH2 | 6.75% fixed | 2056-02-15 | USD | 100.31 | 6.73% | 162 bp | 36 | $85.3M | Jul 2026 |
| 29273VBM1 | 6.55% fixed | 2057-01-15 | USD | 98.75 | 6.65% | 155 bp | 32 | $72.8M | Jul 2026 |
| 29273VBN9 | 6.7% fixed | 2057-01-15 | USD | 98.55 | 6.81% | 171 bp | 54 | $70.1M | Jul 2026 |
| 29273RBA6 | 7.09% floating | 2066-11-01 | USD | 99.53 | — | — | 13 | $5.5M | 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 | 1 | $8.2M | 102.06 | 5.37% | 89 bp | 1 |
| Jul 2026 | 61 | $2.72B | 99.91 | 6.25% | 138 bp | 54 |
| Jun 2026 | 60 | $5.72B | 100.54 | 5.94% | 122 bp | 91 |
| May 2026 | 60 | $3.73B | 100.81 | 5.86% | 113 bp | 40 |
| Apr 2026 | 60 | $2.77B | 100.52 | 5.93% | 142 bp | 50 |
| Mar 2026 | 60 | $5.71B | 99.93 | 5.92% | 147 bp | 85 |
| Feb 2026 | 61 | $3.66B | 101.34 | 5.60% | 128 bp | 42 |
| Jan 2026 | 61 | $2.93B | 100.69 | 5.64% | 138 bp | 53 |
| Dec 2025 | 59 | $5.69B | 100.41 | 5.66% | 145 bp | 76 |
| Nov 2025 | 60 | $3.64B | 100.50 | 5.61% | 143 bp | 38 |
| Oct 2025 | 59 | $2.70B | 100.50 | 5.67% | 153 bp | 54 |
| Sep 2025 | 59 | $5.77B | 100.94 | 5.64% | 137 bp | 77 |
| Aug 2025 | 60 | $3.78B | 100.06 | 5.77% | 141 bp | 39 |
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. 290 added, 227 cut, 41 new holders and 24 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 | $590.1M | $580.5M | -$39.2M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $559.2M | $551.8M | -$23.8M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $420.8M | $421.6M | -$68.8M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $263.0M | $271.9M | $19.1M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $237.5M | $239.2M | -$9.0M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $234.7M | $238.0M | $0 |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $258.6M | $237.7M | -$375K |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $211.4M | $207.9M | -$25.8M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $185.4M | $189.7M | $0 |
| AST Multi-Sector Fixed Income Portfolio Advanced Series Trust | 2026-06-30 | $185.5M | $180.1M | -$10.0M |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $184.1M | $178.7M | $1.2M |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $181.3M | $177.9M | -$1.3M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $179.5M | $177.1M | -$3.0M |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $169.2M | $169.6M | $0 |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $150.4M | $153.1M | $18.2M |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $142.2M | $149.3M | $0 |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $135.6M | $137.9M | $0 |
| Cohen & Steers Preferred Securities & Income Fund, Inc. COHEN & STEERS PREFERRED SECURITIES & INCOME FUND, INC. | 2026-06-30 | $124.3M | $126.8M | -$18.3M |
| PIMCO Enhanced Short Maturity Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $122.5M | $123.1M | $83.1M |
| Fidelity Investment Grade Bond Central Fund Fidelity Central Investment Portfolios II LLC | 2026-06-30 | $105.0M | $104.1M | $0 |
| PIMCO Investment Grade Credit Bond Fund PIMCO FUNDS | 2026-06-30 | $95.2M | $95.4M | $3.5M |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $94.3M | $94.1M | -$10.5M |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $95.9M | $92.0M | $0 |
| VANGUARD WELLESLEY INCOME FUND | 2026-06-30 | $93.3M | $90.7M | -$10.0M |
| Nuveen Preferred Securities and Income Fund Nuveen Investment Trust V | 2026-05-31 | $88.0M | $90.4M | -$5.0M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): T. Rowe Price Ultra Short-Term Bond ETF ($12.3M), T. Rowe Price Ultra Short-Term Bond Fund ($10.7M), Guggenheim Limited Duration Fund ($9.7M), Hartford Dynamic Bond Fund ($9.2M), Franklin Low Duration Total Return Fund ($3.9M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($3.0M), THE HARTFORD TOTAL RETURN BOND FUND ($1.8M), Hartford Total Return Bond ETF ($937K), Western Asset Income Fund ($480K), Goldman Sachs Income Fund ($385K).
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 | 39 | $590.1M | $580.5M | 0.15% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 7 | $263.0M | $271.9M | 0.40% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 13 | $237.5M | $239.2M | 0.48% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 23 | $211.4M | $207.9M | 0.70% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 43 | $179.5M | $177.1M | 0.13% |
| MINT PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 2026-06-30 | 5 | $122.5M | $123.1M | 0.75% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 10 | $94.3M | $94.1M | 0.14% |
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 2 | $83.7M | $83.7M | 0.22% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 47 | $84.4M | $83.5M | 0.48% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 6 | $79.0M | $82.4M | 0.16% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 10 | $81.3M | $80.3M | 0.31% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 21 | $84.0M | $79.6M | 0.86% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 16 | $73.9M | $74.7M | 0.34% |
| VRP Invesco Variable Rate Preferred ETF | 2026-05-31 | 8 | $65.4M | $66.9M | 2.31% |
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 4 | $60.3M | $61.4M | 0.21% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 9.61: safer than 80% of companies (86th percentile in Energy). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $69.70B |
| Debt barrier (short-term + ½ long-term debt) | $34.42B |
| Equity volatility (1 year) | 17.3% |
| Asset value / asset volatility (solved) | $102.69B / 11.7% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 138 bp spread prices in about 2.3% 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'' = 1.00 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ET'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 | 239 | $596.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 1,288 | $19.86B | 13 | $155.3M | 15 | $788.6M | 1 |
| 2026-03-31 | 1,285 | $18.84B | 10 | $178.2M | 18 | $771.3M | 1 |
| 2025-12-31 | 1,231 | $15.19B | 12 | $218.4M | 19 | $504.9M | 1 |
| 2025-09-30 | 1,196 | $17.12B | 16 | $301.8M | 22 | $522.4M | 3 |
| 2025-06-30 | 1,208 | $18.80B | 20 | $351.9M | 26 | $592.1M | 3 |
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.