NRG Energy, Inc. bonds NRG
Who owns NRG Energy, 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. NRG 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 |
|---|---|---|---|---|---|---|---|---|---|
| 629377CP5 | 2.45% fixed | 2027-12-02 | USD | 96.99 | 4.79% | 69 bp | 18 | $48.7M | Jul 2026 |
| 629377CD2 | 5.75% fixed | 2028-01-15 | USD | 100.04 | 5.72% | 170 bp | 1 | $840 | Jun 2026 |
| 629377CE0 | 5.75% fixed | 2028-01-15 | USD | 100.05 | 5.71% | 158 bp | 30 | $68.8M | Jul 2026 |
| 629377CU4 | 10.25% fixed | 2028-03-15 | USD | 106.84 | 5.77% | 162 bp | 27 | $102.3M | Jul 2026 |
| 014916AA8 | 7.467% fixed | 2028-07-31 | USD | 104.16 | 5.25% | 103 bp | 18 | $28.8M | Jul 2026 |
| 629377CQ3 | 3.375% fixed | 2029-02-15 | USD | 94.96 | 5.53% | 128 bp | 32 | $59.9M | Jul 2026 |
| 629377CL4 | 4.45% fixed | 2029-06-15 | USD | 98.13 | 5.16% | 90 bp | 6 | $3.9M | Jul 2026 |
| 629377CH3 | 5.25% fixed | 2029-06-15 | USD | 99.10 | 5.59% | 134 bp | 36 | $75.3M | Jul 2026 |
| 629377CY6 | 5.75% fixed | 2029-07-15 | USD | 99.96 | 5.76% | 150 bp | 51 | $102.6M | Jul 2026 |
| 629377DA7 | 4.734% fixed | 2030-10-15 | USD | 97.66 | 5.36% | 106 bp | 18 | $30.1M | Jul 2026 |
| 629377CR1 | 3.625% fixed | 2031-02-15 | USD | 92.17 | 5.60% | 129 bp | 43 | $83.4M | Jul 2026 |
| BL4813392 | 0% fixed | 2031-04-16 | USD | — | — | — | 2 | $6.3M | Jun 2026 |
| 629377DE9 | 4.955% fixed | 2031-04-30 | USD | 97.76 | 5.49% | 117 bp | 22 | $41.6M | Jul 2026 |
| 629377CS9 | 3.875% fixed | 2032-02-15 | USD | 91.46 | 5.69% | 133 bp | 29 | $38.7M | Jul 2026 |
| 629377CW0 | 6% fixed | 2033-02-01 | USD | 99.71 | 6.05% | 163 bp | 52 | $87.7M | Jul 2026 |
| 629377CT7 | 7% fixed | 2033-03-15 | USD | 106.49 | 5.80% | 137 bp | 14 | $22.8M | Jul 2026 |
| 629377DC3 | 5.75% fixed | 2034-01-15 | USD | 97.41 | 6.19% | 171 bp | 69 | $182.5M | Jul 2026 |
| 629377DF6 | 5.875% fixed | 2034-05-15 | USD | 98.18 | 6.17% | 167 bp | 60 | $89.6M | Jul 2026 |
| 629377CX8 | 6.25% fixed | 2034-11-01 | USD | 99.74 | 6.29% | 177 bp | 59 | $115.4M | Jul 2026 |
| 629377DB5 | 5.407% fixed | 2035-10-15 | USD | 95.80 | 6.01% | 144 bp | 22 | $23.6M | Jul 2026 |
| 629377DD1 | 6% fixed | 2036-01-15 | USD | 97.85 | 6.30% | 173 bp | 75 | $278.9M | Jul 2026 |
| 629377DG4 | 6.125% fixed | 2036-05-15 | USD | 98.71 | 6.30% | 171 bp | 73 | $145.0M | 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 |
|---|---|---|---|---|---|---|
| Aug 2026 partial: filings still arriving | 2 | $50K | 98.76 | 6.25% | 168 bp | 1 |
| Jul 2026 | 20 | $1.63B | 98.16 | 5.74% | 140 bp | 75 |
| Jun 2026 | 22 | $3.00B | 99.71 | 5.56% | 121 bp | 127 |
| May 2026 | 20 | $1.86B | 99.37 | 5.51% | 130 bp | 65 |
| Apr 2026 | 20 | $1.58B | 99.48 | 5.43% | 147 bp | 75 |
| Mar 2026 | 19 | $2.42B | 99.09 | 5.58% | 173 bp | 119 |
| Feb 2026 | 17 | $1.57B | 100.99 | 5.13% | 134 bp | 62 |
| Jan 2026 | 17 | $1.31B | 100.05 | 5.16% | 132 bp | 78 |
| Dec 2025 | 19 | $2.52B | 100.26 | 5.31% | 146 bp | 122 |
| Nov 2025 | 18 | $1.56B | 100.38 | 5.18% | 134 bp | 64 |
| Oct 2025 | 18 | $1.30B | 100.40 | 5.27% | 146 bp | 80 |
| Sep 2025 | 21 | $2.62B | 100.04 | 5.35% | 166 bp | 121 |
| Aug 2025 | 14 | $1.12B | 99.91 | 5.37% | 144 bp | 50 |
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. 312 added, 101 cut, 66 new holders and 28 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $838.6M | $834.7M | $215.3M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $296.3M | $298.7M | $27.5M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $296.0M | $294.7M | $66.5M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $228.8M | $223.4M | $45.0M |
| Lord Abbett Short Duration Income Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $178.2M | $179.6M | $36.7M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $159.2M | $157.0M | $16.8M |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $148.8M | $149.3M | $24.7M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $111.7M | $109.8M | $0 |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $94.0M | $99.7M | $0 |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $87.8M | $85.6M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $86.1M | $85.2M | $21.3M |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $76.8M | $74.9M | $8.1M |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $73.8M | $72.8M | $0 |
| Eaton Vance Income Fund of Boston Eaton Vance Series Trust II | 2026-07-31 | $73.4M | $72.7M | $4.6M |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $63.5M | $62.7M | $1.6M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $54.0M | $54.0M | $10.3M |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $53.0M | $52.3M | $7.6M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $52.1M | $51.6M | $6.8M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $49.4M | $50.6M | $15.1M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $50.4M | $49.8M | $0 |
| Guggenheim Total Return Bond Fund Guggenheim Funds Trust | 2026-06-30 | $48.8M | $49.4M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $49.2M | $48.9M | $20.0M |
| JPMorgan Core Bond Fund JPMorgan Trust II | 2026-05-31 | $43.9M | $44.7M | $0 |
| JPMorgan Core Plus Bond Fund JPMorgan Trust II | 2026-05-31 | $44.4M | $43.7M | $2.8M |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $41.1M | $41.1M | $15.1M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): High Yield Bond Series ($12.5M), Janus Henderson Flexible Bond Fund ($11.5M), Allspring Core Plus Bond Fund ($9.3M), T. Rowe Price U.S. High Yield ETF ($3.6M), Strategic Bond Fund ($3.0M), Janus Henderson Flexible Bond Portfolio ($2.7M), T. Rowe Price U.S. High Yield Fund ($2.4M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($1.6M), PACE Intermediate Fixed Income Investments ($1.1M), Allspring Managed Account CoreBuilder Shares Series CP ($940K).
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 | 12 | $228.8M | $223.4M | 0.78% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 12 | $159.2M | $157.0M | 0.97% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 12 | $86.1M | $85.2M | 0.75% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 9 | $54.0M | $54.0M | 0.73% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 11 | $34.7M | $34.3M | 0.99% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 5 | $28.2M | $27.5M | 0.36% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 10 | $25.3M | $24.8M | 1.12% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 10 | $24.4M | $24.1M | 0.19% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 12 | $23.8M | $23.5M | 0.98% |
| VNLA Janus Henderson Short Duration Income ETF | 2026-07-31 | 1 | $22.7M | $22.0M | 0.66% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 12 | $20.7M | $20.4M | 0.80% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 19 | $19.4M | $19.1M | 0.04% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 5 | $18.8M | $18.5M | 0.38% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 5 | $17.4M | $17.1M | 1.06% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $16.6M | $16.5M | 0.07% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.06: safer than 26% of companies (24th percentile in Utilities). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $20.85B |
| Debt barrier (short-term + ½ long-term debt) | $12.38B |
| Equity volatility (1 year) | 49.4% |
| Asset value / asset volatility (solved) | $32.71B / 31.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 140 bp spread prices in about 2.3% 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'' = 0.54 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in NRG'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 | 119 | $215.0M | 1 | $9.6M | 1 | $9.6M | 0 |
| 2026-06-30 | 1,013 | $28.01B | 22 | $440.4M | 32 | $595.2M | 0 |
| 2026-03-31 | 1,047 | $23.43B | 21 | $247.3M | 22 | $185.1M | 0 |
| 2025-12-31 | 1,059 | $27.43B | 22 | $264.4M | 25 | $295.3M | 2 |
| 2025-09-30 | 1,036 | $28.27B | 24 | $477.0M | 26 | $498.4M | 2 |
| 2025-06-30 | 1,002 | $28.94B | 29 | $379.1M | 35 | $512.6M | 23 |
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.