TransAlta Corporation bonds TAC
Who owns TransAlta 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. TAC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 89347ZAE7 | 6.9% fixed | 2030-11-15 | CAD | 108.24 | 4.79% | — | 1 | $19K | Jun 2026 |
| 89346DAJ6 | 5.63% fixed | 2032-03-24 | CAD | 103.00 | 5.02% | — | 1 | $18K | Jun 2026 |
| 89346DAK3 | 5.63% fixed | 2032-03-24 | CAD | 103.38 | 4.95% | — | 1 | $18K | Jun 2026 |
| 89346DAL1 | 5.875% fixed | 2034-02-01 | USD | 97.54 | 6.29% | 181 bp | 27 | $54.9M | Jul 2026 |
| 89346DAE7 | 6.5% fixed | 2040-03-15 | USD | 96.48 | 6.90% | 212 bp | 17 | $42.5M | 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 | 2 | $97.5M | 97.01 | 6.60% | 196 bp | 27 |
| Jun 2026 | 5 | $35.3M | 103.00 | 6.40% | 190 bp | 38 |
| May 2026 | 2 | $27.0M | 98.66 | 6.37% | 185 bp | 22 |
| Apr 2026 | 2 | $92.3M | 100.00 | 6.19% | 183 bp | 27 |
| Mar 2026 | 5 | $41.6M | 103.03 | 6.32% | 203 bp | 38 |
| Feb 2026 | 2 | $24.3M | 100.82 | 6.08% | 192 bp | 23 |
| Jan 2026 | 2 | $93.4M | 100.25 | 6.16% | 190 bp | 38 |
| Dec 2025 | 4 | $45.3M | 102.67 | 6.12% | 192 bp | 55 |
| Nov 2025 | 2 | $20.6M | 102.43 | 6.47% | 250 bp | 15 |
| Oct 2025 | 2 | $97.4M | 102.89 | 6.45% | 250 bp | 25 |
| Sep 2025 | 4 | $26.9M | 103.98 | 6.57% | 258 bp | 25 |
| Aug 2025 | 2 | $20.4M | 101.19 | 6.66% | 252 bp | 15 |
| Jul 2025 | 2 | $95.9M | 100.62 | 6.71% | 244 bp | 24 |
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. 26 added, 28 cut, 6 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VanEck Fallen Angel High Yield Bond ETF VanEck ETF Trust | 2026-07-31 | $14.9M | $14.4M | $380K |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $12.6M | $12.3M | $1.0M |
| Eaton Vance Income Fund of Boston Eaton Vance Series Trust II | 2026-07-31 | $11.3M | $11.0M | $2.5M |
| iShares Fallen Angels USD Bond ETF iShares Trust | 2026-07-31 | $10.2M | $9.8M | -$1.4M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $8.0M | $7.8M | -$1.3M |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $7.8M | $7.5M | $0 |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $7.1M | $6.9M | $415K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $6.0M | $5.9M | $3.7M |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $5.3M | $5.2M | $0 |
| HIGH INCOME OPPORTUNITIES PORTFOLIO High Income Opportunities Portfolio | 2026-07-31 | $5.0M | $4.9M | $1.3M |
| Dimensional Global Core Plus Fixed Income ETF Dimensional ETF Trust | 2026-07-31 | $4.3M | $4.2M | $3.8M |
| High Yield Bond Portfolio PACIFIC SELECT FUND | 2026-06-30 | $3.7M | $3.6M | $1.7M |
| Western Asset Management Strategic Bond Opportunities Portfolio Brighthouse Funds Trust II | 2026-06-30 | $3.6M | $3.5M | $0 |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $3.5M | $3.5M | $0 |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $3.2M | $3.2M | new |
| Fidelity Total Bond ETF Fidelity Merrimack Street Trust | 2026-05-31 | $3.1M | $3.1M | $55K |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $3.1M | $3.0M | $1.2M |
| Fidelity SAI Total Bond Fund Fidelity Salem Street Trust | 2026-05-31 | $2.8M | $2.7M | -$45K |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $2.8M | $2.7M | -$10.4M |
| Payden High Income Fund PAYDEN & RYGEL INVESTMENT GROUP | 2026-07-31 | $2.4M | $2.4M | $0 |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $2.3M | $2.3M | $0 |
| THRIVENT HIGH YIELD PORTFOLIO Thrivent Series Fund, Inc. | 2026-06-30 | $1.7M | $1.7M | $0 |
| Invesco Bloomberg Enhanced Fallen Angels ETF Invesco Exchange-Traded Fund Trust II | 2026-05-31 | $1.7M | $1.7M | -$591K |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $1.6M | $1.5M | $520K |
| Fidelity Series High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $1.5M | $1.5M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): CITY NATIONAL ROCHDALE FIXED INCOME OPPORTUNITIES FUND ($350K), BlackRock Multi-Sector Income Trust ($343K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($275K), Fidelity Sustainable High Yield ETF ($255K), BlackRock Low Duration Bond Portfolio ($232K), BlackRock Core Bond Trust ($126K), Fidelity SAI Sustainable Core Plus Bond Fund ($41K), Fidelity Sustainable Core Plus Bond Fund ($13K).
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 |
|---|---|---|---|---|---|
| ANGL VanEck Fallen Angel High Yield Bond ETF | 2026-07-31 | 1 | $14.9M | $14.4M | 0.47% |
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 2 | $12.6M | $12.3M | 0.04% |
| FALN iShares Fallen Angels USD Bond ETF | 2026-07-31 | 1 | $10.2M | $9.8M | 0.61% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $6.0M | $5.9M | 0.05% |
| DFGP Dimensional Global Core Plus Fixed Income ETF | 2026-07-31 | 1 | $4.3M | $4.2M | 0.12% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 2 | $3.1M | $3.1M | 0.01% |
| IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | 2026-05-31 | 1 | $1.7M | $1.7M | 0.52% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $1.6M | $1.5M | 0.06% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $1.4M | $1.4M | 0.06% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 1 | $1.2M | $1.2M | 0.10% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 1 | $1.2M | $1.2M | 0.03% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $772K | $751K | 0.00% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 2 | $430K | $419K | 0.08% |
| HYBB iShares BB Rated Corporate Bond ETF | 2026-07-31 | 2 | $380K | $368K | 0.09% |
| BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 2026-05-31 | 2 | $301K | $296K | 0.05% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.14: safer than 39% of companies (40th percentile in Utilities). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $4.12B |
| Debt barrier (short-term + ½ long-term debt) | $1.83B |
| Equity volatility (1 year) | 40.2% |
| Asset value / asset volatility (solved) | $5.88B / 28.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 196 bp spread prices in about 3.3% 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'' = -0.71 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in TAC'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 | 8 | $8.5M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 173 | $3.31B | 9 | $24.5M | 15 | $109.3M | 0 |
| 2026-03-31 | 170 | $2.71B | 8 | $16.5M | 14 | $40.7M | 0 |
| 2025-12-31 | 167 | $2.76B | 10 | $24.3M | 14 | $36.9M | 0 |
| 2025-09-30 | 158 | $3.07B | 7 | $12.4M | 15 | $39.3M | 0 |
| 2025-06-30 | 164 | $2.40B | 6 | $12.2M | 14 | $36.5M | 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.