Tronox Holdings plc bonds TROX
Who owns Tronox Holdings 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. TROX 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 |
|---|---|---|---|---|---|---|---|---|---|
| 897051AC2 | 4.625% fixed | 2029-03-15 | USD | 61.54 | 25.63% | 2138 bp | 36 | $128.6M | Jul 2026 |
| 897051AD0 | 9.125% fixed | 2030-09-30 | USD | 99.85 | 9.16% | 486 bp | 19 | $59.4M | 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 | $188.0M | 80.69 | 17.39% | 1312 bp | 36 |
| Jun 2026 | 2 | $532.6M | 85.31 | 14.14% | 997 bp | 44 |
| May 2026 | 2 | $89.6M | 90.38 | 11.21% | 714 bp | 30 |
| Apr 2026 | 2 | $238.7M | 92.64 | 10.06% | 620 bp | 39 |
| Mar 2026 | 2 | $598.5M | 90.07 | 11.02% | 724 bp | 45 |
| Feb 2026 | 2 | $94.3M | 87.80 | 11.81% | 823 bp | 32 |
| Jan 2026 | 2 | $247.2M | 87.88 | 11.73% | 804 bp | 47 |
| Dec 2025 | 2 | $556.9M | 84.99 | 13.14% | 952 bp | 63 |
| Nov 2025 | 3 | $100.1M | 64.75 | 19.67% | 1609 bp | 37 |
| Oct 2025 | 2 | $235.5M | 76.37 | 16.33% | 1273 bp | 55 |
| Sep 2025 | 2 | $228.6M | 81.66 | 14.17% | 1055 bp | 63 |
| Aug 2025 | 1 | $51.5M | 73.80 | 14.31% | 1061 bp | 33 |
| Jul 2025 | 1 | $152.7M | 77.75 | 12.43% | 856 bp | 58 |
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. 30 added, 50 cut, 2 new holders and 16 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $521.0M | $428.2M | $0 |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $81.0M | $60.1M | $4.9M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $38.2M | $26.8M | -$14.0M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $31.8M | $23.5M | -$3.1M |
| Franklin Templeton SMACS Series I Franklin Strategic Series | 2026-05-31 | $25.0M | $22.1M | $2.0M |
| THE HARTFORD STRATEGIC INCOME FUND HARTFORD MUTUAL FUNDS, INC | 2026-07-31 | $32.1M | $20.5M | -$900K |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $27.6M | $19.7M | $1.6M |
| Franklin Income VIP Fund Franklin Templeton Variable Insurance Products Trust | 2026-06-30 | $21.0M | $18.1M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $19.1M | $16.1M | -$754K |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $14.9M | $11.9M | -$874K |
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $15.7M | $10.2M | -$10.2M |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $12.6M | $9.0M | -$355K |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $11.1M | $8.9M | -$2.2M |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $13.3M | $8.2M | $0 |
| JNL/Franklin Templeton Income Fund JNL Series Trust | 2026-06-30 | $9.4M | $7.6M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $10.2M | $7.5M | $1.5M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $9.3M | $7.4M | -$2.1M |
| Franklin Income Focus ETF Franklin Templeton ETF Trust | 2026-06-30 | $8.0M | $7.1M | $0 |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $9.7M | $6.8M | -$300K |
| Hartford Strategic Income ETF Hartford Funds Exchange-Traded Trust | 2026-07-31 | $7.6M | $4.9M | $1.8M |
| Fidelity High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $7.6M | $4.7M | -$990K |
| Fidelity Total Bond Fund Fidelity Income Fund | 2026-05-31 | $5.9M | $4.7M | $0 |
| Fidelity SAI High Income Fund Fidelity Summer Street Trust | 2026-07-31 | $7.1M | $4.4M | -$210K |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $4.4M | $3.8M | -$463K |
| Brigade High Income Fund ALPS SERIES TRUST | 2026-06-30 | $5.3M | $3.7M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): State Street(R) SPDR(R) Bloomberg High Yield Bond ETF ($5.9M), iShares Systematic Bond ETF ($1.4M), DoubleLine Income Solutions Fund ($670K), Columbia Income Opportunities Fund ($401K), ProShares High Yield-Interest Rate Hedged ($400K), American Funds Multi-Sector Income Fund ($370K), Columbia Variable Portfolio - Income Opportunities Fund ($287K), Morningstar Alternatives Fund ($128K), State Street(R) DoubleLine(R) Total Return Tactical ETF ($125K), Columbia Short Term Bond Fund ($109K).
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 | $27.6M | $19.7M | 0.07% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $19.1M | $16.1M | 0.10% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $14.9M | $11.9M | 0.73% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $12.6M | $9.0M | 0.12% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $10.2M | $7.5M | 0.07% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $9.3M | $7.4M | 0.15% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 2 | $7.6M | $4.9M | 0.46% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $4.4M | $3.8M | 0.11% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 1 | $4.1M | $3.2M | 0.01% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $2.2M | $1.7M | 0.07% |
| XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $2.7M | $1.7M | 0.64% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 2 | $1.4M | $1.2M | 0.07% |
| IBHI iShares iBonds 2029 Term High Yield and Income ETF | 2026-07-31 | 1 | $2.0M | $1.2M | 0.25% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $1.6M | $1.2M | 0.00% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $749K | $757K | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.32: safer than 9% of companies (9th percentile in Basic Materials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $535.8M |
| Debt barrier (short-term + ½ long-term debt) | $1.63B |
| Equity volatility (1 year) | 74.1% |
| Asset value / asset volatility (solved) | $2.08B / 20.4% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 1312 bp spread prices in about 21.9% 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 = 0.66 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in TROX'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 | 19 | $14.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 231 | $790.9M | 8 | $1.8M | 10 | $6.0M | 0 |
| 2026-03-31 | 219 | $956.2M | 8 | $2.8M | 12 | $17.0M | 0 |
| 2025-12-31 | 215 | $447.1M | 10 | $3.7M | 13 | $8.1M | 0 |
| 2025-09-30 | 205 | $425.0M | 14 | $8.1M | 14 | $14.9M | 0 |
| 2025-06-30 | 228 | $585.7M | 7 | $1.7M | 12 | $8.4M | 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.