Nabors Industries Ltd. bonds NBR
Who owns Nabors Industries 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. NBR 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 |
|---|---|---|---|---|---|---|---|---|---|
| 62957HAL9 convertible | 1.75% fixed | 2029-06-15 | USD | 95.15 | — | — | 5 | $13.4M | Jul 2026 |
| 62957HAP0 | 9.125% fixed | 2030-01-31 | USD | 104.70 | 7.57% | 330 bp | 40 | $105.9M | Jul 2026 |
| 62957HAQ8 | 8.875% fixed | 2031-08-15 | USD | 102.95 | 8.15% | 382 bp | 30 | $68.8M | Jul 2026 |
| 62957HAR6 | 7.625% fixed | 2032-11-15 | USD | 102.04 | 7.21% | 280 bp | 43 | $99.7M | Jul 2026 |
| U6295YAQ6 | 7.625% fixed | 2032-11-15 | USD | 104.33 | 6.79% | 271 bp | 1 | $178K | Apr 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 | 2 | $52K | 104.01 | 7.23% | 285 bp | 1 |
| Jul 2026 | 4 | $287.8M | 102.49 | 7.57% | 330 bp | 43 |
| Jun 2026 | 4 | $362.0M | 102.53 | 7.65% | 348 bp | 80 |
| May 2026 | 4 | $237.7M | 104.51 | 7.60% | 352 bp | 32 |
| Apr 2026 | 5 | $294.7M | 104.39 | 7.17% | 316 bp | 46 |
| Mar 2026 | 4 | $370.8M | 103.32 | 7.59% | 380 bp | 86 |
| Feb 2026 | 4 | $235.2M | 103.22 | 7.58% | 398 bp | 38 |
| Jan 2026 | 5 | $284.0M | 101.91 | 7.37% | 353 bp | 50 |
| Dec 2025 | 5 | $463.4M | 98.33 | 7.82% | 406 bp | 85 |
| Nov 2025 | 5 | $248.2M | 97.79 | 7.97% | 423 bp | 35 |
| Oct 2025 | 6 | $328.2M | 100.97 | 7.68% | 408 bp | 56 |
| Sep 2025 | 5 | $414.4M | 99.97 | 7.75% | 415 bp | 72 |
| Aug 2025 | 5 | $349.8M | 100.25 | 7.91% | 419 bp | 45 |
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. 48 added, 44 cut, 6 new holders and 28 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $91.1M | $95.4M | $3.4M |
| Income Fund of America | 2026-07-31 | $79.2M | $81.9M | $0 |
| American High Income Trust | 2026-06-30 | $74.0M | $76.3M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $38.3M | $39.5M | $5.4M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $36.8M | $37.2M | $3.6M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $26.7M | $27.9M | $2.4M |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $22.7M | $23.2M | -$7.9M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $20.8M | $21.4M | $2.1M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $20.2M | $21.0M | -$1.0M |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $18.1M | $18.7M | $0 |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $17.0M | $17.6M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $16.6M | $17.1M | $1.1M |
| Lord Abbett Credit Opportunities Fund | 2026-06-30 | $17.3M | $16.5M | -$2.0M |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $14.7M | $15.1M | $1.5M |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $11.8M | $12.4M | $0 |
| American Funds Strategic Bond Fund | 2026-06-30 | $11.8M | $12.3M | $0 |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $11.3M | $11.9M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $11.5M | $11.8M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $10.8M | $11.3M | $1.9M |
| PGIM Active High Yield Bond ETF PGIM ETF Trust | 2026-05-29 | $8.1M | $8.5M | $1.1M |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $8.1M | $8.4M | $0 |
| Nomura High Income Fund IVY FUNDS | 2026-06-30 | $8.0M | $8.3M | $0 |
| Columbia Strategic Income Fund COLUMBIA FUNDS SERIES TRUST I | 2026-05-31 | $7.7M | $8.0M | -$968K |
| Franklin High Income Fund Franklin High Income Trust | 2026-06-30 | $7.1M | $7.4M | $0 |
| Lord Abbett Core Plus Bond Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $6.8M | $7.1M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): abrdn Income Credit Strategies Fund ($5.2M), NYLI MacKay Strategic Bond Fund ($3.1M), Fidelity Total Bond Fund ($2.2M), THE HARTFORD BALANCED INCOME FUND ($2.1M), Fidelity Total Bond ETF ($1.6M), High Yield Fixed Income Fund ($1.4M), Fidelity SAI Total Bond Fund ($1.2M), NYLI MacKay Total Return Bond Fund ($1.1M), NYLIM VP MacKay Strategic Bond Portfolio ($1.0M), NYLI Income Builder Fund ($760K).
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 | $38.3M | $39.5M | 0.14% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 3 | $26.7M | $27.9M | 0.17% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 3 | $20.8M | $21.4M | 0.19% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 3 | $16.6M | $17.1M | 0.23% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 3 | $8.1M | $8.5M | 0.65% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $6.1M | $6.4M | 0.08% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $5.9M | $6.2M | 0.13% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 2 | $4.7M | $4.8M | 0.09% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 1 | $4.3M | $4.5M | 0.09% |
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 1 | $4.5M | $4.3M | 0.06% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 3 | $4.1M | $4.3M | 0.25% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 3 | $3.9M | $4.0M | 0.16% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 3 | $3.8M | $4.0M | 0.17% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 1 | $3.2M | $3.2M | 0.04% |
| FLHY Franklin High Yield Corporate ETF | 2026-06-30 | 2 | $3.0M | $3.1M | 0.26% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 2.61: safer than 20% of companies (28th percentile in Energy). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $1.21B |
| Debt barrier (short-term + ½ long-term debt) | $1.06B |
| Equity volatility (1 year) | 52.3% |
| Asset value / asset volatility (solved) | $2.23B / 28.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 330 bp spread prices in about 5.5% 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'' = 0.66 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in NBR'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 | 17 | $2.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 240 | $1.01B | 9 | $60.1M | 9 | $25.7M | 0 |
| 2026-03-31 | 222 | $820.4M | 12 | $57.9M | 9 | $18.8M | 0 |
| 2025-12-31 | 186 | $643.1M | 13 | $34.3M | 10 | $11.1M | 0 |
| 2025-09-30 | 167 | $564.2M | 13 | $30.6M | 11 | $17.3M | 0 |
| 2025-06-30 | 151 | $376.4M | 15 | $21.5M | 12 | $24.5M | 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.