FTAI Aviation Ltd. bonds FTAI
Who owns FTAI Aviation Ltd.'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. FTAI 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 |
|---|---|---|---|---|---|---|---|---|---|
| 34960PAD3 | 5.5% fixed | 2028-05-01 | USD | 99.70 | 5.68% | 144 bp | 35 | $85.2M | Jul 2026 |
| 34960PAE1 | 7.875% fixed | 2030-12-01 | USD | 104.19 | 6.74% | 233 bp | 36 | $46.0M | Jul 2026 |
| 34960PAF8 | 7% fixed | 2031-05-01 | USD | 102.77 | 6.31% | 188 bp | 37 | $55.2M | Jul 2026 |
| 34960PAG6 | 7% fixed | 2032-06-15 | USD | 102.12 | 6.56% | 205 bp | 34 | $41.2M | Jul 2026 |
| 34960PAH4 | 5.875% fixed | 2033-04-15 | USD | 98.69 | 6.11% | 154 bp | 19 | $22.1M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over the month-end Treasury curve. Each month is compared with the month before on the same bonds, because the funds that file rotate from month to month. Fund-reported.
Price history
Fund-marked price of the US-dollar bonds, same bonds month to month, latest month = 100 (the plain median per 100 of face when too few bonds pair up).
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 | 5 | $163.9M | 102.60 | 6.25% | 178 bp | 24 |
| Jul 2026 | 5 | $249.8M | 102.12 | 6.31% | 188 bp | 37 |
| Jun 2026 | 5 | $706.6M | 103.33 | 6.13% | 194 bp | 56 |
| May 2026 | 5 | $316.9M | 103.36 | 6.11% | 198 bp | 31 |
| Apr 2026 | 5 | $252.1M | 103.24 | 6.18% | 216 bp | 42 |
| Mar 2026 | 5 | $717.9M | 102.51 | 6.41% | 246 bp | 58 |
| Feb 2026 | 5 | $272.4M | 104.95 | 5.86% | 233 bp | 31 |
| Jan 2026 | 5 | $265.9M | 105.22 | 5.83% | 201 bp | 43 |
| Dec 2025 | 5 | $721.9M | 105.15 | 5.82% | 206 bp | 66 |
| Nov 2025 | 5 | $277.6M | 104.86 | 5.94% | 231 bp | 31 |
| Oct 2025 | 5 | $256.1M | 104.75 | 5.96% | 221 bp | 42 |
| Sep 2025 | 5 | $790.5M | 104.64 | 6.01% | 221 bp | 68 |
| Aug 2025 | 5 | $268.7M | 104.32 | 6.03% | 227 bp | 30 |
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. 58 added, 59 cut, 10 new holders and 13 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $212.1M | $217.2M | -$2.1M |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $98.3M | $98.2M | $40.5M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $70.8M | $71.8M | $5.1M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $63.1M | $63.9M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $49.1M | $50.2M | -$1.7M |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $34.9M | $35.2M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $30.4M | $31.2M | $5.6M |
| Income Fund of America | 2026-07-31 | $30.4M | $30.3M | $0 |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $29.2M | $29.8M | $0 |
| American High Income Trust | 2026-06-30 | $28.8M | $28.8M | -$10K |
| Allspring Core Plus Bond Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $24.7M | $25.5M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $24.9M | $25.5M | -$4.8M |
| BlackRock Corporate High Yield Fund, Inc. | 2026-06-30 | $20.9M | $21.3M | -$480K |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $19.4M | $19.4M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $17.8M | $18.2M | -$10.0M |
| BlackRock High Yield V.I. Fund BlackRock Variable Series Funds II, Inc. | 2026-06-30 | $15.5M | $15.9M | $4.4M |
| Shenkman Capital Short Duration High Income Fund Advisors Series Trust | 2026-06-30 | $14.8M | $15.4M | $4.8M |
| Nomura High Income Fund IVY FUNDS | 2026-06-30 | $14.0M | $14.5M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $13.9M | $14.0M | $5.0M |
| PIMCO Diversified Income Fund PIMCO FUNDS | 2026-06-30 | $13.2M | $13.4M | $0 |
| Lord Abbett Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $12.0M | $12.5M | $7.0M |
| BlackRock Multi-Asset Income Portfolio BlackRock Funds II | 2026-07-31 | $12.2M | $12.4M | $1.6M |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $10.9M | $11.4M | $0 |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $10.6M | $10.9M | -$707K |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $10.7M | $10.7M | -$285K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): High Yield Fixed Income Fund ($3.5M), Lord Abbett Total Return Fund ($3.4M), Asset Allocation Fund ($1.5M), AVIP High Income Bond Portfolio ($1.0M), Global Bond Fund ($950K), MFS MULTIMARKET INCOME TRUST ($785K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($627K), Nomura Floating Rate Fund ($500K), ProShares High Yield-Interest Rate Hedged ($287K), BlackRock Global Allocation Fund, Inc. ($205K).
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 |
|---|---|---|---|---|---|
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 5 | $70.8M | $71.8M | 0.25% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-08-31 | 5 | $48.9M | $49.6M | 0.31% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 5 | $24.9M | $25.5M | 0.22% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 5 | $17.8M | $18.2M | 0.25% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 3 | $13.9M | $14.0M | 0.18% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-08-31 | 5 | $11.0M | $11.2M | 0.31% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $10.0M | $10.0M | 0.21% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-08-31 | 1 | $7.5M | $7.5M | 0.47% |
| SCYB Schwab High Yield Bond ETF | 2026-08-31 | 5 | $6.8M | $6.9M | 0.24% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $5.4M | $5.4M | 0.77% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 1 | $4.9M | $4.9M | 0.09% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 5 | $4.0M | $4.0M | 0.01% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $3.3M | $3.3M | 0.73% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $3.3M | $3.2M | 0.19% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 1 | $3.0M | $3.0M | 0.04% |
Default risk, three ways
Stock market: risk of going bust
Risk of going bust: higher than 64% of companies (34th percentile in Industrials); distance to default 3.87. Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025). If the stock fell to about $4.08 (down 97% from the 2026-10-27 close), the company would be worth roughly what it owes. Market-implied, prices to 2026-10-27, balance sheet 2026-06-30.
| Equity value | $16.30B |
| Debt barrier (short-term + ½ long-term debt) | $1.73B |
| Equity volatility (1 year) | 63.2% |
| Asset value / asset volatility (solved) | $17.95B / 57.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 188 bp spread prices in about 3.1% 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 = 4.38 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in FTAI'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 | 121 | $216.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 676 | $26.55B | 19 | $345.5M | 26 | $638.4M | 0 |
| 2026-03-31 | 602 | $20.87B | 26 | $377.3M | 26 | $619.9M | 0 |
| 2025-12-31 | 514 | $18.67B | 19 | $190.6M | 23 | $356.8M | 2 |
| 2025-09-30 | 471 | $15.64B | 18 | $299.3M | 20 | $255.7M | 2 |
| 2025-06-30 | 418 | $11.23B | 19 | $253.3M | 24 | $287.1M | 2 |
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.