Illinois Tool Works Inc. bonds ITW
Who owns Illinois Tool Works 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. ITW 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 |
|---|---|---|---|---|---|---|---|---|---|
| 452308AX7 | 2.65% fixed | 2026-11-15 | USD | 99.56 | 4.17% | 42 bp | 2 | $14.6M | Jul 2026 |
| 452308AZ2 | 0.625% fixed | 2027-12-05 | EUR | 96.95 | 2.96% | — | 2 | $9.5M | Jul 2026 |
| 452308BB4 | 3.25% fixed | 2028-05-17 | EUR | 100.17 | 3.15% | — | 3 | $12.1M | Jul 2026 |
| 452308AW9 | 2.13% fixed | 2030-05-22 | EUR | 95.51 | 3.41% | — | 8 | $28.4M | Jul 2026 |
| 452308BA6 | 1% fixed | 2031-06-05 | EUR | 89.16 | 3.47% | — | 2 | $3.3M | Jul 2026 |
| 452308BC2 | 3.375% fixed | 2032-05-17 | EUR | 98.79 | 3.61% | — | 3 | $19.0M | Jul 2026 |
| 452308AQ2 | 4.88% fixed | 2041-09-15 | USD | 91.55 | 5.72% | 86 bp | 6 | $1.4M | Jul 2026 |
| 452308AR0 | 3.9% fixed | 2042-09-01 | USD | 80.23 | 5.81% | 90 bp | 8 | $3.1M | 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 | 8 | $91.4M | 96.23 | 5.76% | 88 bp | 8 |
| Jun 2026 | 6 | $81.5M | 97.27 | 5.41% | 66 bp | 16 |
| May 2026 | 4 | $39.7M | 97.26 | 5.37% | 58 bp | 17 |
| Apr 2026 | 8 | $90.0M | 95.93 | 5.44% | 79 bp | 9 |
| Mar 2026 | 6 | $80.7M | 96.60 | 5.43% | 83 bp | 16 |
| Feb 2026 | 3 | $36.0M | 98.07 | 5.08% | 61 bp | 17 |
| Jan 2026 | 8 | $88.6M | 96.86 | 5.29% | 73 bp | 9 |
| Dec 2025 | 6 | $81.2M | 98.03 | 5.24% | 72 bp | 16 |
| Nov 2025 | 3 | $33.1M | 97.95 | 5.14% | 68 bp | 18 |
| Oct 2025 | 8 | $88.1M | 97.27 | 5.12% | 74 bp | 9 |
| Sep 2025 | 6 | $131.5M | 97.83 | 5.16% | 69 bp | 17 |
| Aug 2025 | 3 | $54.9M | 94.11 | 5.43% | 77 bp | 21 |
| Jul 2025 | 8 | $87.7M | 96.46 | 5.49% | 74 bp | 9 |
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. 11 added, 11 cut, 1 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $26.3M | $29.7M | $0 |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $24.8M | $27.7M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $29.9M | $26.3M | $215K |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $25.8M | $21.5M | $0 |
| Invesco BulletShares 2026 Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $16.5M | $16.4M | $4.7M |
| iShares iBonds Dec 2026 Term Corporate ETF iShares Trust | 2026-07-31 | $13.9M | $13.8M | $4.1M |
| AVE MARIA BOND FUND Schwartz Investment Trust | 2026-06-30 | $10.6M | $10.5M | $0 |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $8.6M | $7.6M | $120K |
| Six Circles Global Bond Fund SIX CIRCLES TRUST | 2026-06-30 | $6.2M | $7.1M | $0 |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $6.5M | $5.8M | -$1.6M |
| DFA Short-Duration Real Return Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $4.8M | $5.3M | $0 |
| DFA Selectively Hedged Global Fixed Income Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $4.1M | $4.5M | $0 |
| AST PGIM Aggressive Multi-Asset Portfolio Advanced Series Trust | 2026-06-30 | $3.2M | $3.7M | $0 |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $3.1M | $2.8M | $115K |
| VANGUARD BALANCED INDEX FUND VANGUARD VALLEY FORGE FUNDS | 2026-06-30 | $2.8M | $2.4M | $1.3M |
| VANGUARD LONG-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $2.7M | $2.4M | $0 |
| DFA TARGETED CREDIT PORTFOLIO DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $2.1M | $2.3M | $0 |
| Fidelity Series Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $2.3M | $1.9M | $0 |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $2.2M | $1.8M | $100K |
| iShares U.S. Long Credit Bond Index Fund BlackRock Funds | 2026-07-31 | $1.8M | $1.5M | $0 |
| iShares 10+ Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $1.5M | $1.3M | $25K |
| DFA Short-Term Extended Quality Portfolio DFA INVESTMENT DIMENSIONS GROUP INC | 2026-07-31 | $1.1M | $1.2M | $0 |
| Strategic Advisers Fidelity Short Duration Fund Fidelity Rutland Square Trust II | 2026-05-31 | $953K | $1.1M | new |
| AST Balanced Asset Allocation Portfolio Advanced Series Trust | 2026-06-30 | $900K | $1.0M | $0 |
| Nuveen Bond Index Fund TIAA-CREF Funds | 2026-06-30 | $1.2M | $1.0M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): DFA Investment Grade Portfolio ($200K), JPMorgan BetaBuilders U.S. Aggregate Bond ETF ($3K).
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 |
|---|---|---|---|---|---|
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 5 | $24.8M | $27.7M | 0.02% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 2 | $29.9M | $26.3M | 0.01% |
| BSCQ Invesco BulletShares 2026 Corporate Bond ETF | 2026-05-31 | 1 | $16.5M | $16.4M | 0.43% |
| IBDR iShares iBonds Dec 2026 Term Corporate ETF | 2026-07-31 | 1 | $13.9M | $13.8M | 0.41% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 2 | $8.6M | $7.6M | 0.01% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $6.5M | $5.8M | 0.06% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $3.1M | $2.8M | 0.02% |
| BLV VANGUARD LONG-TERM BOND INDEX FUND | 2026-06-30 | 2 | $2.7M | $2.4M | 0.03% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $2.2M | $1.8M | 0.00% |
| IGLB iShares 10+ Year Investment Grade Corporate Bond ETF | 2026-05-31 | 2 | $1.5M | $1.3M | 0.05% |
| IAGG iShares Core International Aggregate Bond ETF | 2026-07-31 | 2 | $860K | $973K | 0.01% |
| SLQD iShares 0-5 Year Investment Grade Corporate Bond ETF | 2026-07-31 | 1 | $832K | $828K | 0.03% |
| SPLB State Street(R) SPDR(R) Portfolio Long Term Corporate Bond ETF | 2026-06-30 | 2 | $872K | $758K | 0.06% |
| NXUS Nuveen International Aggregate Bond ETF | 2026-06-30 | 2 | $500K | $574K | 0.01% |
| QLTA iShares Aaa - A Rated Corporate Bond ETF | 2026-07-31 | 2 | $590K | $495K | 0.04% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 12.82: safer than 88% of companies (90th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $77.05B |
| Debt barrier (short-term + ½ long-term debt) | $6.42B |
| Equity volatility (1 year) | 21.8% |
| Asset value / asset volatility (solved) | $83.20B / 20.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 88 bp spread prices in about 1.5% 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 = 7.94 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in ITW'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 | 317 | $862.1M | 1 | $1.3M | 0 | — | 0 |
| 2026-06-30 | 1,960 | $64.90B | 14 | $66.3M | 19 | $224.7M | 1 |
| 2026-03-31 | 1,929 | $54.15B | 18 | $98.1M | 16 | $213.0M | 2 |
| 2025-12-31 | 1,881 | $58.91B | 12 | $23.1M | 12 | $80.3M | 1 |
| 2025-09-30 | 1,831 | $61.81B | 15 | $47.5M | 17 | $186.4M | 1 |
| 2025-06-30 | 1,839 | $59.23B | 21 | $53.0M | 23 | $100.7M | 1 |
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.