Tidewater Inc. bonds TDW
Who owns Tidewater 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. TDW 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 |
|---|---|---|---|---|---|---|---|---|---|
| 88642RAE9 | 9.125% fixed | 2030-07-15 | USD | 106.88 | 7.10% | 280 bp | 32 | $80.8M | 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 | 1 | $80.8M | 106.88 | 7.10% | 280 bp | 32 |
| Jun 2026 | 1 | $128.9M | 107.09 | 7.08% | 289 bp | 66 |
| May 2026 | 1 | $48.7M | 107.69 | 6.94% | 284 bp | 25 |
| Apr 2026 | 1 | $79.4M | 107.66 | 6.99% | 310 bp | 33 |
| Mar 2026 | 1 | $119.0M | 106.58 | 7.31% | 350 bp | 70 |
| Feb 2026 | 1 | $49.8M | 108.08 | 6.95% | 332 bp | 27 |
| Jan 2026 | 1 | $77.4M | 108.14 | 6.97% | 323 bp | 32 |
| Dec 2025 | 1 | $133.5M | 107.34 | 7.20% | 354 bp | 72 |
| Nov 2025 | 1 | $47.4M | 106.99 | 7.31% | 366 bp | 24 |
| Oct 2025 | 1 | $68.0M | 106.73 | 7.40% | 377 bp | 31 |
| Sep 2025 | 1 | $135.1M | 107.29 | 7.29% | 364 bp | 77 |
| Aug 2025 | 1 | $52.9M | 106.74 | 7.45% | 366 bp | 20 |
| Jul 2025 | 1 | $43.5M | 104.89 | 7.91% | 396 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. 23 added, 22 cut, 1 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| The Osterweis Strategic Income Fund Professionally Managed Portfolios | 2026-06-30 | $37.9M | $40.6M | $13.9M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $23.1M | $24.7M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $14.1M | $15.1M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $13.8M | $14.7M | $2.6M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $10.4M | $11.2M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $10.2M | $10.9M | $0 |
| NYLIM MacKay Short Duration High Income Fund NYLIM FUNDS TRUST | 2026-07-31 | $8.5M | $9.1M | $0 |
| Invesco High Yield Fund AIM Investment Securities Funds (Invesco Investment Securities Funds) | 2026-05-31 | $7.5M | $8.0M | $0 |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $6.9M | $7.5M | -$629K |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $6.1M | $6.6M | $0 |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $6.1M | $6.5M | $500K |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $5.5M | $5.9M | $530K |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $5.1M | $5.5M | $0 |
| NORTHEAST INVESTORS TRUST | 2026-06-30 | $5.0M | $5.4M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.7M | $5.0M | -$1.2M |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $4.5M | $4.9M | $1.2M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.2M | $4.5M | $1.5M |
| Income Fund of America | 2026-07-31 | $4.2M | $4.4M | $0 |
| FlexShares High Yield Value - Scored Bond Index Fund FlexShares Trust | 2026-07-31 | $3.9M | $4.1M | -$2.4M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $2.8M | $3.0M | -$2.7M |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $2.7M | $2.9M | -$2.8M |
| High Yield Fixed Income Fund Northern Funds | 2026-06-30 | $2.6M | $2.8M | $610K |
| Goldman Sachs Income Builder Fund GOLDMAN SACHS TRUST | 2026-07-31 | $2.6M | $2.8M | $0 |
| Goldman Sachs Dynamic Bond Fund GOLDMAN SACHS TRUST | 2026-06-30 | $2.5M | $2.7M | $0 |
| ICON FLEXIBLE BOND FUND SCM Trust | 2026-06-30 | $2.5M | $2.7M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Janus Henderson Multi-Sector Income Fund ($425K), Destinations Global Fixed Income Opportunities Fund ($300K), BlackRock Multi-Sector Income Trust ($280K), BlackRock Low Duration Bond Portfolio ($191K), BlackRock Core Bond Trust ($109K), BondBloxx B Rated USD High Yield Corporate Bond ETF ($50K), State Street(R) My2031 High Yield Corporate Bond ETF ($20K), Capital World Bond Fund ($10K).
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 | 1 | $13.8M | $14.7M | 0.05% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $6.9M | $7.5M | 0.46% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $6.1M | $6.6M | 0.09% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $4.7M | $5.0M | 0.04% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $4.2M | $4.5M | 0.06% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $3.9M | $4.1M | 0.38% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $2.8M | $3.0M | 0.06% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 1 | $2.3M | $2.5M | 0.05% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $1.9M | $2.0M | 0.12% |
| HYBL State Street(R) Blackstone High Income ETF | 2026-06-30 | 1 | $1.4M | $1.5M | 0.27% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.1M | $1.2M | 0.05% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $1.1M | $1.1M | 0.05% |
| SYSB iShares Systematic Bond ETF | 2026-07-31 | 1 | $908K | $970K | 0.08% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 1 | $850K | $915K | 0.07% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $671K | $717K | 0.00% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.58: safer than 54% of companies (62th percentile in Energy). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $4.03B |
| Debt barrier (short-term + ½ long-term debt) | $329.4M |
| Equity volatility (1 year) | 48.7% |
| Asset value / asset volatility (solved) | $4.35B / 45.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 280 bp spread prices in about 4.7% 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 = 3.55 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in TDW'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 | 26 | $50.3M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 348 | $3.54B | 11 | $43.6M | 12 | $43.5M | 0 |
| 2026-03-31 | 346 | $3.55B | 11 | $42.7M | 12 | $83.6M | 0 |
| 2025-12-31 | 320 | $2.20B | 12 | $64.2M | 13 | $48.0M | 0 |
| 2025-09-30 | 316 | $2.43B | 12 | $74.1M | 14 | $48.9M | 0 |
| 2025-06-30 | 293 | $2.10B | 14 | $71.8M | 16 | $62.1M | 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.