Talen Energy Corporation bonds TLN
Who owns Talen Energy 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. TLN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 87422VAK4 | 8.625% fixed | 2030-06-01 | USD | 104.40 | 7.36% | 347 bp | 7 | $64.4M | Apr 2026 |
| 87422VAQ1 | 6.125% fixed | 2031-05-01 | USD | 99.40 | 6.27% | 195 bp | 35 | $145.2M | Jul 2026 |
| 87422VAP3 | 6.375% fixed | 2033-05-01 | USD | 98.51 | 6.65% | 221 bp | 48 | $164.8M | Jul 2026 |
| 87422VAM0 | 6.25% fixed | 2034-02-01 | USD | 98.08 | 6.58% | 209 bp | 65 | $152.8M | Jul 2026 |
| 87422VAN8 | 6.5% fixed | 2036-02-01 | USD | 98.76 | 6.68% | 210 bp | 62 | $143.9M | 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 | 1 | $34K | 98.21 | 6.56% | 202 bp | 1 |
| Jul 2026 | 4 | $606.7M | 98.64 | 6.61% | 210 bp | 65 |
| Jun 2026 | 4 | $1.73B | 99.95 | 6.37% | 196 bp | 139 |
| May 2026 | 4 | $461.5M | 99.81 | 6.36% | 197 bp | 64 |
| Apr 2026 | 5 | $543.3M | 100.19 | 6.37% | 220 bp | 65 |
| Mar 2026 | 3 | $749.2M | 100.71 | 6.42% | 232 bp | 131 |
| Feb 2026 | 3 | $424.2M | 102.82 | 6.12% | 200 bp | 59 |
| Jan 2026 | 3 | $446.0M | 102.52 | 6.16% | 197 bp | 71 |
| Dec 2025 | 3 | $759.2M | 103.43 | 6.04% | 195 bp | 134 |
| Nov 2025 | 3 | $429.4M | 103.26 | 6.06% | 200 bp | 56 |
| Oct 2025 | 3 | $413.3M | 103.57 | 6.03% | 195 bp | 68 |
| Sep 2025 | 1 | $250.8M | 106.20 | 7.04% | 340 bp | 62 |
| Aug 2025 | 1 | $182.5M | 106.64 | 6.96% | 318 bp | 33 |
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. 149 added, 68 cut, 82 new holders and 31 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $419.1M | $418.8M | $414.9M |
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $255.0M | $254.5M | new |
| American High Income Trust | 2026-06-30 | $134.0M | $133.9M | $86.6M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $118.3M | $116.7M | -$57.8M |
| Janus Henderson Balanced Fund Janus Investment Fund | 2026-06-30 | $78.7M | $78.8M | $27.1M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $67.8M | $68.0M | -$12.5M |
| Income Fund of America | 2026-07-31 | $62.2M | $61.4M | $4.5M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $55.0M | $54.8M | new |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $54.9M | $54.0M | $7.4M |
| Janus Henderson Multi-Sector Income Fund Janus Investment Fund | 2026-06-30 | $47.7M | $47.7M | $13.5M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $47.5M | $47.6M | -$30.6M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $45.9M | $45.8M | $26.3M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $44.7M | $44.7M | -$13.2M |
| BlackRock Corporate High Yield Fund, Inc. | 2026-06-30 | $35.6M | $35.6M | $35.3M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $35.2M | $35.1M | $17.5M |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $35.0M | $35.0M | $4.9M |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $27.5M | $27.1M | $0 |
| Franklin High Income Fund Franklin High Income Trust | 2026-06-30 | $27.0M | $27.0M | $9.0M |
| BlackRock High Yield V.I. Fund BlackRock Variable Series Funds II, Inc. | 2026-06-30 | $26.8M | $26.8M | $26.7M |
| Janus Henderson VIT Balanced Portfolio Janus Aspen Series | 2026-06-30 | $26.4M | $26.4M | $8.9M |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $23.9M | $24.0M | $630K |
| JPMorgan Income Fund JPMorgan Trust I | 2026-05-31 | $23.7M | $23.6M | $14.0M |
| Janus Henderson Flexible Bond Fund Janus Investment Fund | 2026-06-30 | $21.5M | $21.5M | $7.7M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $21.3M | $21.3M | -$8.6M |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $20.2M | $20.1M | $7.4M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Invesco BulletShares 2026 High Yield Corporate Bond ETF ($31.9M), Bond Fund of America ($14.8M), First Trust Smith Unconstrained Bond ETF ($7.3M), T. Rowe Price Institutional Floating Rate Fund ($6.9M), Shenkman Capital Short Duration High Income Fund ($6.8M), State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF ($5.1M), T. Rowe Price Floating Rate Fund ($3.8M), T. Rowe Price Global High Income Bond Fund ($3.6M), SIMT Multi-Strategy Alternatives Fund ($1.0M), T. Rowe Price Floating Rate ETF ($885K).
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 | 2 | $54.9M | $54.0M | 0.19% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $44.7M | $44.7M | 0.28% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $21.3M | $21.3M | 0.19% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 4 | $20.2M | $20.1M | 0.58% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $17.2M | $17.2M | 0.23% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 3 | $16.6M | $16.3M | 1.01% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 2 | $15.8M | $15.8M | 0.30% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 3 | $15.2M | $15.2M | 0.69% |
| FLHY Franklin High Yield Corporate ETF | 2026-06-30 | 3 | $11.1M | $11.1M | 0.94% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $10.7M | $10.8M | 0.66% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $10.6M | $10.5M | 0.14% |
| FTSL First Trust Senior Loan Fund | 2026-07-31 | 2 | $9.7M | $9.5M | 0.41% |
| THYF T. Rowe Price U.S. High Yield ETF | 2026-05-31 | 1 | $8.9M | $9.0M | 1.10% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 3 | $8.6M | $8.6M | 0.09% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $5.3M | $5.3M | 0.22% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.22: safer than 28% of companies (27th percentile in Utilities). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $16.67B |
| Debt barrier (short-term + ½ long-term debt) | $4.80B |
| Equity volatility (1 year) | 56.8% |
| Asset value / asset volatility (solved) | $21.27B / 44.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 210 bp spread prices in about 3.5% 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'' = -0.03 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in TLN'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 | 62 | $404.3M | 0 | — | 1 | $46.9M | 0 |
| 2026-06-30 | 636 | $18.39B | 25 | $1.38B | 30 | $1.62B | 0 |
| 2026-03-31 | 561 | $12.79B | 24 | $687.5M | 27 | $916.4M | 0 |
| 2025-12-31 | 579 | $15.59B | 22 | $456.1M | 28 | $963.1M | 0 |
| 2025-09-30 | 545 | $19.61B | 27 | $795.4M | 30 | $1.82B | 0 |
| 2025-06-30 | 450 | $13.24B | 24 | $388.6M | 32 | $844.5M | 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.