Northrop Grumman Corporation bonds NOC
Who owns Northrop Grumman Corporation'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. NOC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 666807BK7 | 3.2% fixed | 2027-02-01 | USD | 99.46 | 4.29% | 45 bp | 6 | $32.1M | Jul 2026 |
| 666807BN1 | 3.25% fixed | 2028-01-15 | USD | 98.20 | 4.54% | 41 bp | 12 | $62.7M | Jul 2026 |
| 666807CK6 | 4.6% fixed | 2029-02-01 | USD | 99.86 | 4.66% | 42 bp | 10 | $148.3M | Jul 2026 |
| 666807BS0 | 4.4% fixed | 2030-05-01 | USD | 98.58 | 4.82% | 53 bp | 8 | $40.2M | Jul 2026 |
| 666807CN0 | 4.65% fixed | 2030-07-15 | USD | 99.27 | 4.85% | 56 bp | 14 | $37.3M | Jul 2026 |
| 666807AW2 | 7.75% fixed | 2031-02-15 | USD | 112.59 | 4.69% | 49 bp | 8 | $20.0M | Jun 2026 |
| 666807CE0 | 7.75% fixed | 2031-02-15 | USD | 111.94 | 4.84% | 64 bp | 1 | $490K | Jun 2026 |
| 666807CH3 | 4.7% fixed | 2033-03-15 | USD | 97.61 | 5.13% | 69 bp | 11 | $22.3M | Jul 2026 |
| 666807CL4 | 4.9% fixed | 2034-06-01 | USD | 97.74 | 5.25% | 76 bp | 12 | $67.4M | Jul 2026 |
| 666807CP5 | 5.25% fixed | 2035-07-15 | USD | 99.57 | 5.31% | 76 bp | 9 | $22.3M | Jul 2026 |
| 666807BT8 | 5.15% fixed | 2040-05-01 | USD | 95.25 | 5.65% | 86 bp | 6 | $1.2M | Jul 2026 |
| 666807BD3 | 5.05% fixed | 2040-11-15 | USD | 93.95 | 5.67% | 85 bp | 4 | $8.6M | Jul 2026 |
| 666807BH4 | 4.75% fixed | 2043-06-01 | USD | 87.57 | 5.93% | 98 bp | 6 | $4.7M | Jul 2026 |
| 666807BJ0 | 3.85% fixed | 2045-04-15 | USD | 76.06 | 6.00% | 95 bp | 7 | $4.3M | Jul 2026 |
| 666807BP6 | 4.03% fixed | 2047-10-15 | USD | 75.90 | 6.06% | 96 bp | 12 | $18.5M | Jul 2026 |
| 666807BU5 | 5.25% fixed | 2050-05-01 | USD | 89.53 | 6.09% | 98 bp | 10 | $5.1M | Jul 2026 |
| 666807CJ9 | 4.95% fixed | 2053-03-15 | USD | 85.33 | 6.07% | 96 bp | 8 | $7.1M | Jul 2026 |
| 666807CM2 | 5.2% fixed | 2054-06-01 | USD | 88.56 | 6.05% | 95 bp | 14 | $60.0M | 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 | 16 | $542.1M | 96.43 | 5.65% | 85 bp | 14 |
| Jun 2026 | 18 | $808.7M | 98.74 | 5.02% | 64 bp | 46 |
| May 2026 | 17 | $705.2M | 98.36 | 5.17% | 62 bp | 30 |
| Apr 2026 | 17 | $586.7M | 98.31 | 5.17% | 78 bp | 15 |
| Mar 2026 | 18 | $808.7M | 98.75 | 4.99% | 87 bp | 47 |
| Feb 2026 | 17 | $729.9M | 100.53 | 4.81% | 57 bp | 31 |
| Jan 2026 | 17 | $662.8M | 99.44 | 4.80% | 63 bp | 17 |
| Dec 2025 | 21 | $807.0M | 100.35 | 4.74% | 68 bp | 47 |
| Nov 2025 | 17 | $742.6M | 99.55 | 4.67% | 64 bp | 30 |
| Oct 2025 | 17 | $682.9M | 99.03 | 4.74% | 74 bp | 16 |
| Sep 2025 | 21 | $836.9M | 100.62 | 4.75% | 71 bp | 49 |
| Aug 2025 | 17 | $683.4M | 98.20 | 4.96% | 80 bp | 34 |
| Jul 2025 | 17 | $769.5M | 97.49 | 5.04% | 68 bp | 18 |
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. 74 added, 57 cut, 3 new holders and 12 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $223.7M | $208.6M | $6.1M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $202.2M | $201.0M | -$7.9M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $177.7M | $166.3M | $0 |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $100.4M | $100.1M | $7.0M |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $91.1M | $89.3M | -$2.1M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $82.9M | $82.1M | $4.3M |
| iShares iBoxx $ Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $70.0M | $64.1M | -$13.4M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $64.5M | $60.1M | -$5.4M |
| VANGUARD LONG-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $52.1M | $45.3M | -$2.0M |
| Bond Fund of America | 2026-06-30 | $31.2M | $30.6M | $0 |
| Fidelity U.S. Bond Index Fund Fidelity Salem Street Trust | 2026-05-31 | $34.3M | $30.3M | $0 |
| Columbia Core Bond ETF Columbia ETF Trust I | 2026-06-30 | $26.6M | $26.5M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $26.8M | $26.4M | $1.1M |
| VANGUARD INSTITUTIONAL INTERMEDIATE-TERM BOND FUND VANGUARD MALVERN FUNDS | 2026-06-30 | $25.7M | $25.3M | $0 |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $26.7M | $24.9M | -$498K |
| Capital Group Central Corporate Bond Fund Capital Group Central Fund Series II | 2026-05-31 | $24.7M | $23.9M | $800K |
| VANGUARD WELLINGTON FUND | 2026-05-31 | $24.6M | $23.1M | $7.9M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $23.0M | $22.9M | $610K |
| VANGUARD LONG-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $26.7M | $22.8M | -$1.3M |
| First Trust Smith Opportunistic Fixed Income ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $21.2M | $21.6M | $0 |
| THE HARTFORD BALANCED INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $25.2M | $21.5M | -$5.0M |
| VANGUARD INTERMEDIATE-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $19.7M | $19.6M | $1.0M |
| DoubleLine Low Duration Bond Fund DoubleLine Funds Trust | 2026-06-30 | $17.1M | $18.4M | $2.6M |
| Permanent Portfolio PERMANENT PORTFOLIO FAMILY OF FUNDS | 2026-07-31 | $17.5M | $17.2M | $0 |
| iShares 5-10 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $17.1M | $17.1M | -$2.3M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): ALPS | Smith Total Return Bond Fund ($19.7M), JPMorgan Core Plus Bond Fund ($2.5M), AB Corporate Income Shares ($1.3M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($1.2M), Nomura Balanced Fund ($1.0M), PIMCO Investment Grade Credit Bond Portfolio ($1.0M), AVIP Core Plus Bond Portfolio ($625K), FlexShares Credit-Scored US Corporate Bond Index Fund ($490K), Thrivent Core Plus Bond ETF ($310K), State Street(R) My2029 Corporate Bond ETF ($115K).
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 |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 13 | $223.7M | $208.6M | 0.05% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 3 | $100.4M | $100.1M | 0.15% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 4 | $82.9M | $82.1M | 0.16% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 8 | $70.0M | $64.1M | 0.22% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 15 | $64.5M | $60.1M | 0.04% |
| CRUX Columbia Core Bond ETF | 2026-06-30 | 2 | $26.6M | $26.5M | 1.20% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 4 | $26.8M | $26.4M | 0.04% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 16 | $26.7M | $24.9M | 0.14% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $23.0M | $22.9M | 0.10% |
| VCLT VANGUARD LONG-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 7 | $26.7M | $22.8M | 0.25% |
| FIXD First Trust Smith Opportunistic Fixed Income ETF | 2026-05-31 | 1 | $21.2M | $21.6M | 0.65% |
| BIV VANGUARD INTERMEDIATE-TERM BOND INDEX FUND | 2026-06-30 | 2 | $19.7M | $19.6M | 0.04% |
| IGIB iShares 5-10 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 3 | $17.1M | $17.1M | 0.09% |
| BSCS Invesco BulletShares 2028 Corporate Bond ETF | 2026-05-31 | 1 | $16.5M | $16.3M | 0.47% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 15 | $17.6M | $16.0M | 0.04% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 9.56: safer than 80% of companies (81th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $72.57B |
| Debt barrier (short-term + ½ long-term debt) | $7.21B |
| Equity volatility (1 year) | 27.6% |
| Asset value / asset volatility (solved) | $79.48B / 25.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 85 bp spread prices in about 1.4% 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 = 3.10 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in NOC'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 | 293 | $564.4M | 1 | $2.2M | 1 | $338K | 0 |
| 2026-06-30 | 1,804 | $58.23B | 31 | $437.9M | 33 | $354.4M | 0 |
| 2026-03-31 | 1,877 | $67.28B | 32 | $549.5M | 30 | $579.6M | 0 |
| 2025-12-31 | 1,782 | $64.06B | 32 | $642.7M | 32 | $556.0M | 0 |
| 2025-09-30 | 1,707 | $69.86B | 33 | $663.9M | 34 | $622.7M | 0 |
| 2025-06-30 | 1,606 | $58.17B | 31 | $454.7M | 35 | $586.7M | 0 |
Officials trading NOC bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2026-05-08 | William R. Keating | purchase | Northrop Grumman Corp | $1,001 - $15,000 | filing |
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.