Mueller Water Products, Inc. bonds MWA
Who owns Mueller Water Products, 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. MWA 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 |
|---|---|---|---|---|---|---|---|---|---|
| 624758AF5 | 4% fixed | 2029-06-15 | USD | 95.78 | 5.61% | 135 bp | 24 | $32.9M | 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 | 1 | $32.9M | 95.78 | 5.61% | 135 bp | 24 |
| Jun 2026 | 1 | $52.9M | 96.85 | 5.16% | 101 bp | 33 |
| May 2026 | 1 | $30.3M | 96.62 | 5.22% | 117 bp | 13 |
| Apr 2026 | 1 | $29.5M | 96.82 | 5.11% | 129 bp | 22 |
| Mar 2026 | 1 | $49.5M | 96.39 | 5.24% | 149 bp | 36 |
| Feb 2026 | 1 | $32.9M | 97.15 | 4.95% | 140 bp | 14 |
| Jan 2026 | 1 | $31.9M | 97.31 | 4.87% | 123 bp | 30 |
| Dec 2025 | 1 | $53.0M | 97.35 | 4.84% | 126 bp | 43 |
| Nov 2025 | 1 | $31.4M | 96.90 | 4.97% | 138 bp | 13 |
| Oct 2025 | 1 | $29.4M | 96.59 | 5.04% | 147 bp | 30 |
| Sep 2025 | 1 | $58.4M | 96.34 | 5.09% | 150 bp | 41 |
| Aug 2025 | 1 | $31.6M | 96.07 | 5.15% | 144 bp | 13 |
| Jul 2025 | 1 | $29.5M | 95.58 | 5.28% | 139 bp | 29 |
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. 17 added, 5 cut, 5 new holders and 7 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Thornburg Strategic Income Fund THORNBURG INVESTMENT TRUST | 2026-06-30 | $20.7M | $20.0M | $0 |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $17.7M | $17.1M | -$600K |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $8.8M | $8.5M | $559K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $7.2M | $7.0M | $1.6M |
| American High Income Trust | 2026-06-30 | $5.1M | $5.0M | $0 |
| Income Fund of America | 2026-07-31 | $5.1M | $4.9M | $0 |
| T. Rowe Price Institutional High Yield Fund T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC. | 2026-05-31 | $4.8M | $4.6M | $0 |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $4.0M | $3.9M | $1.3M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $4.0M | $3.8M | $85K |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $3.6M | $3.5M | $1.3M |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $3.1M | $3.0M | $0 |
| AB Short Duration High Yield ETF AB Active ETFs, Inc. | 2026-05-31 | $3.1M | $3.0M | -$1.3M |
| Eventide Limited-Term Bond Fund MUTUAL FUND SERIES TRUST | 2026-06-30 | $2.2M | $2.1M | $475K |
| AMG GW&K ESG Bond Fund AMG Funds III | 2026-06-30 | $2.0M | $2.0M | $0 |
| Eventide Balanced Fund MUTUAL FUND SERIES TRUST | 2026-06-30 | $1.9M | $1.8M | $0 |
| Fidelity Series High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $1.9M | $1.8M | $0 |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $1.8M | $1.8M | $0 |
| THRIVENT CORE HIGH YIELD BOND FUND Thrivent Core Funds | 2026-07-31 | $1.4M | $1.3M | $0 |
| PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $1.3M | $1.3M | new |
| THRIVENT HIGH YIELD PORTFOLIO Thrivent Series Fund, Inc. | 2026-06-30 | $1.3M | $1.3M | $0 |
| AB High Yield ETF AB Active ETFs, Inc. | 2026-05-31 | $1.3M | $1.2M | $231K |
| VIP High Income Portfolio Variable Insurance Products Fund | 2026-06-30 | $1.2M | $1.2M | $0 |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $1.1M | $1.1M | $100K |
| Invesco BulletShares 2029 High Yield Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $1.0M | $989K | $180K |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $950K | $910K | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): SIIT HIGH YIELD BOND FUND ($1.2M), Palmer Square Income Plus Fund ($1.1M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($286K), Palmer Square Credit Opportunities ETF ($193K), Blackstone Private Multi-Asset Credit & Income Fund ($150K), BlackRock Low Duration Bond Portfolio ($91K), Blackstone Long-Short Credit Income Fund ($30K).
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 | 1 | $8.8M | $8.5M | 0.03% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $7.2M | $7.0M | 0.06% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $4.0M | $3.8M | 0.05% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $3.6M | $3.5M | 0.07% |
| SYFI AB Short Duration High Yield ETF | 2026-05-31 | 1 | $3.1M | $3.0M | 0.33% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $1.3M | $1.3M | 0.07% |
| HYFI AB High Yield ETF | 2026-05-31 | 1 | $1.3M | $1.2M | 0.36% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.1M | $1.1M | 0.04% |
| IBHI iShares iBonds 2029 Term High Yield and Income ETF | 2026-07-31 | 1 | $808K | $774K | 0.16% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 1 | $750K | $726K | 0.01% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $730K | $705K | 0.03% |
| SIHY Harbor Ares Systematic High Yield ETF | 2026-07-31 | 1 | $600K | $575K | 0.39% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $490K | $469K | 0.00% |
| VGHY VANGUARD HIGH-YIELD ACTIVE ETF | 2026-07-31 | 1 | $330K | $316K | 0.10% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $270K | $259K | 0.05% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 12.02: safer than 87% of companies (88th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $3.40B |
| Debt barrier (short-term + ½ long-term debt) | $227.2M |
| Equity volatility (1 year) | 24.6% |
| Asset value / asset volatility (solved) | $3.62B / 23.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 135 bp spread prices in about 2.2% 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 = 4.25 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in MWA'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 | 30 | $34.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 415 | $3.76B | 2 | $23K | 2 | $212K | 0 |
| 2026-03-31 | 411 | $3.38B | 1 | $16K | 0 | — | 0 |
| 2025-12-31 | 388 | $3.41B | 1 | $38K | 1 | $12K | 0 |
| 2025-09-30 | 393 | $3.75B | 4 | $3.2M | 2 | $1.4M | 0 |
| 2025-06-30 | 371 | $3.65B | 5 | $2.8M | 3 | $1.1M | 0 |
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.