Murphy USA Inc. bonds MUSA
Who owns Murphy USA 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. MUSA 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 |
|---|---|---|---|---|---|---|---|---|---|
| 626738AD0 | 5.625% fixed | 2027-05-01 | USD | 100.05 | 5.56% | 179 bp | 4 | $4.8M | May 2026 |
| 626738AE8 | 4.75% fixed | 2029-09-15 | USD | 98.24 | 5.37% | 110 bp | 21 | $35.7M | Jul 2026 |
| 626738AF5 | 3.75% fixed | 2031-02-15 | USD | 92.97 | 5.52% | 121 bp | 23 | $25.2M | Jul 2026 |
| 626738AG3 | 5.875% fixed | 2034-06-01 | USD | 99.11 | 6.02% | 152 bp | 26 | $58.0M | 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 | $118.8M | 98.24 | 5.52% | 121 bp | 26 |
| Jun 2026 | 3 | $200.1M | 98.43 | 5.33% | 114 bp | 51 |
| May 2026 | 4 | $85.5M | 99.19 | 5.40% | 126 bp | 20 |
| Apr 2026 | 3 | $107.9M | 98.95 | 5.32% | 140 bp | 24 |
| Mar 2026 | 3 | $114.2M | 98.59 | 5.41% | 157 bp | 40 |
| Feb 2026 | 3 | $34.6M | 99.04 | 5.11% | 148 bp | 22 |
| Jan 2026 | 3 | $113.0M | 99.48 | 5.13% | 135 bp | 26 |
| Dec 2025 | 3 | $137.3M | 99.64 | 5.11% | 139 bp | 42 |
| Nov 2025 | 3 | $39.1M | 99.18 | 5.13% | 144 bp | 20 |
| Oct 2025 | 3 | $111.3M | 98.77 | 5.27% | 159 bp | 26 |
| Sep 2025 | 3 | $143.9M | 98.70 | 5.24% | 154 bp | 35 |
| Aug 2025 | 3 | $35.0M | 98.44 | 5.34% | 150 bp | 19 |
| Jul 2025 | 3 | $111.8M | 97.71 | 5.47% | 147 bp | 24 |
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. 53 added, 22 cut, 59 new holders and 20 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| T. Rowe Price Capital Appreciation Fund T. ROWE PRICE CAPITAL APPRECIATION FUND, INC. | 2026-06-30 | $36.0M | $35.6M | new |
| American High Income Trust | 2026-06-30 | $33.2M | $31.9M | $11.7M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $27.3M | $26.5M | $4.6M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $22.3M | $22.0M | -$2.1M |
| Income Fund of America | 2026-07-31 | $20.0M | $19.8M | new |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $19.7M | $19.8M | new |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $18.4M | $18.0M | $8.4M |
| Guggenheim Macro Opportunities Fund Guggenheim Funds Trust | 2026-06-30 | $17.8M | $17.8M | new |
| Bond Fund of America | 2026-06-30 | $15.2M | $14.5M | $5.0M |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $12.2M | $11.7M | -$6.0M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $8.7M | $8.5M | $2.2M |
| T. Rowe Price U.S. High Yield ETF T. Rowe Price Exchange-Traded Funds, Inc. | 2026-05-31 | $8.2M | $8.2M | new |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $8.4M | $8.1M | $180K |
| JNL/T. Rowe Price Capital Appreciation Fund JNL Series Trust | 2026-06-30 | $7.8M | $7.8M | new |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NEW YORK LIFE INVESTMENTS VP FUNDS TRUST | 2026-06-30 | $7.3M | $7.3M | $1.3M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $6.1M | $6.2M | new |
| Boyd Watterson Limited Duration Enhanced Income Fund NORTHERN LIGHTS FUND TRUST III | 2026-06-30 | $5.8M | $5.8M | $1.8M |
| T. Rowe Price U.S. High Yield Fund T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $4.9M | $4.9M | new |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $5.0M | $4.7M | $0 |
| Guggenheim Strategic Opportunities Fund | 2026-05-29 | $4.5M | $4.6M | new |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $4.2M | $4.1M | -$3.7M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.1M | $4.1M | $607K |
| Fidelity Series High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $4.0M | $3.9M | $2.5M |
| Xtrackers USD High Yield BB-B ex Financials ETF DBX ETF Trust | 2026-05-31 | $3.8M | $3.7M | $1.7M |
| Victory High Income Fund Victory Portfolios III | 2026-07-31 | $3.7M | $3.6M | $1.4M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Goldman Sachs Short Duration Bond Fund ($3.7M), Voya Short Duration High Income Fund ($3.1M), Catalyst Insider Income Fund ($3.0M), iShares iBonds 2027 Term High Yield and Income ETF ($1.6M), Goldman Sachs Enhanced Income Fund ($1.5M), Madison Short-Term Strategic Income ETF ($1.2M), JNL/Lord Abbett Short Duration Income Fund ($565K), Eaton Vance Ltd Duration Income Fund ($560K), Scharf Multi-Asset Opportunity Fund ($557K), Nomura Wealth Builder Fund ($483K).
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 | 3 | $27.3M | $26.5M | 0.09% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 3 | $18.4M | $18.0M | 0.11% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 3 | $8.7M | $8.5M | 0.07% |
| THYF T. Rowe Price U.S. High Yield ETF | 2026-05-31 | 1 | $8.2M | $8.2M | 1.00% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $8.4M | $8.1M | 0.11% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $4.1M | $4.1M | 0.08% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 4 | $3.8M | $3.7M | 0.15% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $3.5M | $3.5M | 0.05% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 4 | $3.6M | $3.5M | 0.14% |
| BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $3.3M | $3.3M | 0.39% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $3.0M | $2.9M | 0.08% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 3 | $1.9M | $1.8M | 0.00% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $1.8M | $1.7M | 0.10% |
| UITB VictoryShares Core Intermediate Bond ETF | 2026-06-30 | 2 | $1.5M | $1.5M | 0.05% |
| SYFI AB Short Duration High Yield ETF | 2026-05-31 | 1 | $1.3M | $1.2M | 0.13% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 6.36: safer than 61% of companies (59th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $10.00B |
| Debt barrier (short-term + ½ long-term debt) | $1.10B |
| Equity volatility (1 year) | 39.7% |
| Asset value / asset volatility (solved) | $11.05B / 35.9% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 121 bp spread prices in about 2.0% 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'' = 4.19 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in MUSA'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 | 70 | $128.0M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 600 | $7.99B | 9 | $29.9M | 10 | $71.6M | 0 |
| 2026-03-31 | 528 | $6.73B | 8 | $42.9M | 8 | $42.4M | 0 |
| 2025-12-31 | 523 | $6.38B | 9 | $22.9M | 8 | $19.4M | 0 |
| 2025-09-30 | 497 | $6.17B | 5 | $17.7M | 9 | $44.7M | 0 |
| 2025-06-30 | 490 | $6.57B | 11 | $46.4M | 13 | $27.0M | 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.