NatWest Group plc bonds NWG
Who owns NatWest Group plc'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. NWG 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 |
|---|---|---|---|---|---|---|---|---|---|
| 63906YAD0 | 1.6% fixed | 2026-09-29 | USD | 99.63 | 3.89% | 16 bp | 1 | $498K | Jul 2026 |
| 63906YAE8 | 4.41% floating | 2026-09-29 | USD | 100.07 | — | — | 2 | $20.7M | Jul 2026 |
| ACI1SQVK7 | 5.13% floating | 2027-05-12 | GBP | 99.72 | — | — | 10 | $56.6M | Jun 2026 |
| 639057AC2 | 1.642% fixed | 2027-06-14 | USD | 99.89 | 1.75% | -205 bp | 20 | $217.9M | May 2026 |
| 639057AM0 | 4.89% floating | 2028-03-01 | USD | 100.39 | — | — | 5 | $62.7M | Jul 2026 |
| 639057AL2 | 5.583% fixed | 2028-03-01 | USD | 100.61 | 5.18% | 103 bp | 4 | $44.3M | Jul 2026 |
| ACI1WD777 | 4.5% fixed | 2028-03-31 | GBP | 97.54 | 6.07% | — | 1 | $1.5M | Jul 2026 |
| 780097BP5 | 3.073% fixed | 2028-05-22 | USD | 98.81 | 3.76% | -43 bp | 5 | $2.6M | Jul 2026 |
| BY7413457 | 4.067% fixed | 2028-09-06 | EUR | 100.99 | 3.57% | — | 1 | $588K | Jul 2026 |
| 639057AF5 | 5.516% fixed | 2028-09-30 | USD | 101.00 | 5.02% | 79 bp | 11 | $14.2M | Jul 2026 |
| ACI21KT87 | 2.057% variable | 2028-11-09 | GBP | 96.52 | — | — | 2 | $7.4M | Jul 2026 |
| 639057AR9 | 4.93% floating | 2028-11-15 | USD | 100.73 | — | — | 9 | $72.5M | Jul 2026 |
| G6422BAN5 | 4.77% variable | 2029-02-16 | EUR | 102.19 | — | — | 1 | $118K | Jul 2026 |
| G6422BAH8 | 3.619% variable | 2029-03-29 | GBP | 97.64 | — | — | 3 | $26.5M | Jul 2026 |
| 780097BG5 | 4.892% fixed | 2029-05-18 | USD | 100.23 | 4.80% | 55 bp | 13 | $18.0M | Jul 2026 |
| 639057AU2 | 4.74% floating | 2029-05-23 | USD | 100.51 | — | — | 5 | $34.0M | Jul 2026 |
| 639057AK4 | 5.808% fixed | 2029-09-13 | USD | 101.93 | 5.13% | 86 bp | 10 | $7.5M | Jul 2026 |
| G6422BAE5 | 0.67% variable | 2029-09-14 | EUR | 94.73 | — | — | 1 | $2.2M | Jun 2026 |
| BR3767174 | 0.67% variable | 2029-09-14 | EUR | 94.38 | — | — | 3 | $32.3M | Jul 2026 |
| 78009PEH0 | 5.076% fixed | 2030-01-27 | USD | 100.30 | 4.98% | 70 bp | 15 | $33.6M | Jul 2026 |
| BO2209423 | 0.78% fixed | 2030-02-26 | EUR | 93.49 | 2.71% | — | 2 | $9.8M | Jul 2026 |
| 780097BL4 | 4.445% variable | 2030-05-08 | USD | 98.63 | — | — | 12 | $12.7M | Jul 2026 |
| XS3069320474 | 3.24% fixed | 2030-05-13 | EUR | 99.21 | 3.46% | — | 2 | $229K | Jul 2026 |
| 639057AS7 | 4.96% variable | 2030-08-15 | USD | 99.94 | — | — | 15 | $73.5M | Jul 2026 |
| 639057AV0 | 5.115% fixed | 2031-05-23 | USD | 99.91 | 5.14% | 81 bp | 13 | $27.4M | Jul 2026 |
| 639057AD0 | 4.6% fixed | 2031-06-28 | USD | 91.80 | 6.58% | 225 bp | 5 | $21.8M | Jul 2026 |
| ACI2Q9SN3 | 3.673% variable | 2031-08-05 | EUR | 100.01 | — | — | 3 | $23.5M | Jul 2026 |
| 78009PBE0 | 0% fixed | 2031-08-18 | USD | 79.38 | 4.48% | 31 bp | 1 | $99K | May 2026 |
| 78009PBK6 | 0% fixed | 2031-08-26 | USD | 75.00 | 5.57% | 140 bp | 1 | $75K | May 2026 |
| XS3225880387 | 4.76% fixed | 2031-11-10 | GBP | 98.67 | 5.04% | — | 1 | $393K | Jun 2026 |
| BP7725222 | 2.105% variable | 2031-11-28 | GBP | 99.58 | — | — | 1 | $132K | Jun 2026 |
| G6422BAD7 | 2.105% variable | 2031-11-28 | GBP | 99.79 | — | — | 2 | $29.0M | Jul 2026 |
| ACI2V7XV7 | 7.5% fixed | 2032-02-28 | GBP | 102.33 | 6.99% | — | 1 | $276K | Jul 2026 |
| 639057AX6 | 4.983% fixed | 2032-06-18 | USD | 98.94 | 5.19% | 81 bp | 14 | $40.8M | Jul 2026 |
| YV6173723 | 3.575% fixed | 2032-09-12 | EUR | 99.27 | 3.71% | — | 3 | $23.2M | Jul 2026 |
| BR3367546 | 1.043% variable | 2032-09-14 | EUR | 97.82 | — | — | 4 | $22.6M | Jul 2026 |
| XS2563349765 | 7.416% variable | 2033-06-06 | GBP | 103.01 | — | — | 2 | $9.7M | Jul 2026 |
| 639057AQ1 | 8.125% fixed | 2033-11-10 | USD | 108.84 | 6.57% | 210 bp | 25 | $201.8M | Jul 2026 |
| G6422BAL9 | 5.763% fixed | 2034-02-28 | EUR | 104.31 | 5.06% | — | 2 | $21.7M | Jul 2026 |
| ZL2088769 | 5.763% variable | 2034-02-28 | EUR | 105.34 | — | — | 1 | $241K | Jun 2026 |
| 639057AH1 | 6.016% fixed | 2034-03-02 | USD | 103.28 | 5.48% | 99 bp | 9 | $24.1M | Jul 2026 |
| 639057AP3 | 6.475% fixed | 2034-06-01 | USD | 102.95 | 6.00% | 150 bp | 13 | $12.1M | Jul 2026 |
| G6422BAY1 | 3.63% fixed | 2034-09-03 | EUR | 97.79 | 3.95% | — | 1 | $338K | Jul 2026 |
| YV7038354 | 5.642% fixed | 2034-10-17 | GBP | 189.04 | -3.51% | — | 2 | $1.1M | Jun 2026 |
| 639057AT5 | 7.3% fixed | 2034-11-19 | USD | 102.37 | 6.92% | 240 bp | 10 | $57.6M | Jul 2026 |
| YR6316792 | 3.72% variable | 2035-02-25 | EUR | 98.97 | — | — | 1 | $799K | Jul 2026 |
| 639057AN8 | 5.778% fixed | 2035-03-01 | USD | 101.70 | 5.53% | 99 bp | 10 | $29.7M | Jul 2026 |
| ACI3077N6 | 7.625% fixed | 2035-09-30 | GBP | 103.11 | 7.16% | — | 6 | $33.9M | Jun 2026 |
| 639057AB4 | 3.032% fixed | 2035-11-28 | USD | 91.12 | 4.19% | -38 bp | 11 | $7.0M | Jul 2026 |
| XS3069320714 | 3.99% fixed | 2036-05-13 | EUR | 99.48 | 4.05% | — | 2 | $516K | Jul 2026 |
| XS3394864766 | 7.5% fixed | 2036-06-03 | GBP | 99.47 | 7.57% | — | 2 | $5.4M | Jul 2026 |
| XS3303714045 | 3.756% variable | 2037-02-25 | EUR | 97.55 | — | — | 1 | $371K | Jul 2026 |
| 639057AW8 | 5.91% fixed | 2047-03-03 | USD | 93.65 | 6.47% | 136 bp | 7 | $3.1M | Jul 2026 |
| BM3452604 | 5.125% variable | 2099-12-31 | GBP | 99.68 | — | — | 1 | $17.5M | 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 | 44 | $1.06B | 99.85 | 5.19% | 93 bp | 25 |
| Jun 2026 | 49 | $3.89B | 100.46 | 5.08% | 84 bp | 52 |
| May 2026 | 35 | $1.97B | 100.50 | 5.02% | 85 bp | 33 |
| Apr 2026 | 42 | $1.05B | 100.32 | 4.97% | 104 bp | 25 |
| Mar 2026 | 49 | $3.99B | 99.42 | 4.96% | 113 bp | 50 |
| Feb 2026 | 35 | $2.28B | 100.64 | 4.64% | 91 bp | 30 |
| Jan 2026 | 44 | $1.10B | 100.97 | 4.56% | 86 bp | 27 |
| Dec 2025 | 49 | $3.97B | 100.68 | 4.57% | 93 bp | 61 |
| Nov 2025 | 35 | $2.39B | 100.59 | 4.57% | 88 bp | 37 |
| Oct 2025 | 46 | $1.15B | 101.03 | 4.71% | 103 bp | 27 |
| Sep 2025 | 49 | $4.33B | 100.70 | 4.68% | 99 bp | 65 |
| Aug 2025 | 36 | $2.57B | 100.73 | 4.65% | 94 bp | 35 |
| Jul 2025 | 46 | $1.22B | 100.68 | 4.86% | 92 bp | 28 |
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. 101 added, 121 cut, 39 new holders and 55 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Dodge & Cox Income Fund Dodge & Cox Funds | 2026-06-30 | $722.8M | $724.2M | -$10.5M |
| PIMCO Income Fund PIMCO FUNDS | 2026-06-30 | $415.7M | $415.8M | $0 |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $226.7M | $227.6M | -$12.3M |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $220.3M | $221.3M | $11.3M |
| Nuveen Preferred Securities and Income Fund Nuveen Investment Trust V | 2026-05-31 | $176.0M | $187.0M | $15.3M |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $180.7M | $182.6M | -$15.7M |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $168.7M | $170.6M | -$12.3M |
| JPMorgan Ultra-Short Income ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $167.5M | $168.1M | -$121.7M |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $145.1M | $151.8M | -$180K |
| JPMorgan Core Bond Fund JPMorgan Trust II | 2026-05-31 | $116.4M | $118.2M | -$20.4M |
| Nuveen Preferred & Income Opportunities Fund | 2026-07-31 | $109.6M | $116.8M | $12.0M |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $107.6M | $107.6M | $0 |
| PIMCO Long Duration Credit Bond Portfolio PIMCO FUNDS | 2026-06-30 | $98.2M | $102.5M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $100.1M | $101.2M | $8.6M |
| VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $88.9M | $92.6M | $20.7M |
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $73.6M | $86.8M | $0 |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) PIMCO FUNDS | 2026-06-30 | $77.9M | $81.6M | $4.3M |
| Putnam Ultra Short Duration Income Fund Putnam Funds Trust | 2026-07-31 | $80.4M | $80.8M | $0 |
| Spectrum Preferred and Capital Securities Income Fund Principal Funds, Inc | 2026-05-31 | $73.8M | $80.3M | $0 |
| PIMCO Investment Grade Credit Bond Fund PIMCO FUNDS | 2026-06-30 | $65.5M | $78.3M | $21.0M |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND VANGUARD CHARLOTTE FUNDS | 2026-07-31 | $64.0M | $75.8M | $0 |
| PIMCO Total Return Fund PIMCO FUNDS | 2026-06-30 | $75.3M | $75.2M | $0 |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $74.2M | $74.1M | -$14.1M |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $71.0M | $71.4M | -$9.3M |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $70.9M | $71.3M | -$7.7M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Baird Ultra Short Bond Fund ($69.8M), Ultra Short Income Portfolio ($57.8M), JPMorgan Short Duration Bond Fund ($29.8M), Invesco BulletShares 2026 Corporate Bond ETF ($15.5M), PIMCO Moderate Duration Portfolio ($13.0M), iShares Flexible Income Active ETF ($7.1M), Franklin Low Duration Total Return Fund ($7.0M), Nomura Corporate Bond Fund ($6.7M), Transamerica Bond ($6.5M), Diversified Bond Fund ($6.4M).
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 |
|---|---|---|---|---|---|
| JPST JPMorgan Ultra-Short Income ETF | 2026-05-31 | 5 | $335.3M | $335.5M | 0.87% |
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 11 | $226.7M | $227.6M | 0.06% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 9 | $220.3M | $221.3M | 0.44% |
| FLOT iShares Floating Rate Bond ETF | 2026-07-31 | 10 | $138.7M | $139.3M | 1.35% |
| PULS PGIM Ultra Short Bond ETF | 2026-05-29 | 2 | $116.0M | $115.4M | 0.71% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 18 | $109.9M | $110.5M | 0.50% |
| VCIT VANGUARD INTERMEDIATE-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 2 | $88.9M | $92.6M | 0.13% |
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 9 | $73.4M | $86.7M | 0.07% |
| MINT PIMCO Enhanced Short Maturity Active Exchange-Traded Fund | 2026-06-30 | 8 | $77.2M | $77.4M | 0.47% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 9 | $74.2M | $74.1M | 0.11% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 13 | $70.9M | $71.3M | 0.05% |
| ICSH iShares Ultra Short Duration Bond Active ETF | 2026-07-31 | 3 | $71.1M | $70.6M | 0.87% |
| FLTR VanEck IG Floating Rate ETF | 2026-07-31 | 9 | $50.2M | $50.5M | 1.68% |
| LQD iShares iBoxx $ Investment Grade Corporate Bond ETF | 2026-05-31 | 5 | $42.5M | $43.2M | 0.14% |
| SPSB State Street(R) SPDR(R) Portfolio Short Term Corporate Bond ETF | 2026-06-30 | 6 | $42.2M | $42.4M | 0.40% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 93 bp spread prices in about 1.6% 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
Not available.
The stock side: 13F filings
What institutions report holding in NWG'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 | 57 | $20.7M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 423 | $3.27B | 4 | $846K | 7 | $5.1M | 0 |
| 2026-03-31 | 406 | $2.84B | 7 | $1.8M | 8 | $2.6M | 0 |
| 2025-12-31 | 408 | $3.10B | 3 | $2.1M | 5 | $1.7M | 1 |
| 2025-09-30 | 371 | $2.51B | 3 | $2.0M | 3 | $1.9M | 0 |
| 2025-06-30 | 364 | $2.40B | 3 | $5.7M | 5 | $5.9M | 0 |
Officials trading NWG bonds
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.