United Rentals, Inc. bonds URI
Who owns United Rentals, 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. URI 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 |
|---|---|---|---|---|---|---|---|---|---|
| 911365BM5 | 3.875% fixed | 2027-11-15 | USD | 98.88 | 4.78% | 68 bp | 24 | $58.1M | Jul 2026 |
| 911365BG8 | 4.875% fixed | 2028-01-15 | USD | 99.60 | 5.16% | 103 bp | 32 | $216.1M | Jul 2026 |
| 911365BQ6 | 6% fixed | 2029-12-15 | USD | 101.13 | 5.62% | 135 bp | 26 | $115.3M | Jul 2026 |
| 911365BL7 | 5.25% fixed | 2030-01-15 | USD | 99.53 | 5.40% | 112 bp | 18 | $45.7M | Jul 2026 |
| 911365BN3 | 4% fixed | 2030-07-15 | USD | 94.94 | 5.44% | 114 bp | 26 | $73.0M | Jul 2026 |
| 911363AM1 | 3.875% fixed | 2031-02-15 | USD | 93.51 | 5.51% | 120 bp | 29 | $94.3M | Jul 2026 |
| 911365BP8 | 3.75% fixed | 2032-01-15 | USD | 91.36 | 5.61% | 125 bp | 23 | $36.0M | Jul 2026 |
| 911365BS2 | 5.375% fixed | 2033-11-15 | USD | 97.38 | 5.82% | 135 bp | 45 | $89.5M | Jul 2026 |
| 911365BR4 | 6.125% fixed | 2034-03-15 | USD | 101.25 | 5.92% | 143 bp | 26 | $100.8M | 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 |
|---|---|---|---|---|---|---|
| Aug 2026 partial: filings still arriving | 1 | $34K | 97.39 | 5.82% | 129 bp | 1 |
| Jul 2026 | 9 | $828.7M | 98.88 | 5.51% | 120 bp | 45 |
| Jun 2026 | 9 | $1.19B | 98.65 | 5.22% | 106 bp | 77 |
| May 2026 | 9 | $639.5M | 99.02 | 5.23% | 110 bp | 46 |
| Apr 2026 | 9 | $843.0M | 98.89 | 5.18% | 122 bp | 50 |
| Mar 2026 | 9 | $1.14B | 98.57 | 5.40% | 150 bp | 82 |
| Feb 2026 | 9 | $644.2M | 99.94 | 4.91% | 130 bp | 43 |
| Jan 2026 | 9 | $830.8M | 99.95 | 4.94% | 125 bp | 56 |
| Dec 2025 | 9 | $1.19B | 99.93 | 4.88% | 124 bp | 83 |
| Nov 2025 | 10 | $616.0M | 100.03 | 4.90% | 128 bp | 41 |
| Oct 2025 | 9 | $782.8M | 99.92 | 5.06% | 139 bp | 35 |
| Sep 2025 | 9 | $987.5M | 99.77 | 5.10% | 142 bp | 71 |
| Aug 2025 | 9 | $524.3M | 99.46 | 5.17% | 142 bp | 42 |
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. 72 added, 81 cut, 17 new holders and 30 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $302.3M | $298.9M | $27.5M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $148.5M | $144.5M | $8.8M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $130.1M | $126.6M | $600K |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $109.1M | $105.6M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $101.6M | $99.7M | -$8.1M |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $97.6M | $96.7M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $79.4M | $79.7M | $0 |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $75.8M | $75.0M | $0 |
| Income Fund of America | 2026-07-31 | $74.0M | $72.1M | $5.5M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $69.7M | $67.9M | $13.9M |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $49.6M | $49.4M | $0 |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $46.4M | $46.8M | -$600K |
| Baird Aggregate Bond Fund Baird Funds Inc | 2026-06-30 | $45.0M | $45.7M | $0 |
| American High Income Trust | 2026-06-30 | $42.2M | $41.0M | -$145K |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $41.3M | $40.1M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $38.2M | $37.3M | $600K |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $36.5M | $35.1M | $5.2M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $34.4M | $33.9M | $0 |
| PIMCO High Yield Fund PIMCO Funds | 2026-06-30 | $31.3M | $31.3M | $1.8M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $26.6M | $25.9M | $3.7M |
| iShares Fallen Angels USD Bond ETF iShares Trust | 2026-07-31 | $25.3M | $25.0M | -$3.2M |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $25.2M | $24.8M | -$2.3M |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $25.0M | $24.6M | $3.0M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $25.6M | $24.6M | -$870K |
| Core Fixed Income Fund Principal Funds, Inc | 2026-07-31 | $24.0M | $24.3M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): BNY Mellon Core Plus Fund ($4.2M), Janus Henderson High-Yield Fund ($3.8M), Neuberger Strategic Income Fund ($3.0M), Payden Absolute Return Bond Fund ($2.1M), High Yield Fixed Income Fund ($1.5M), Advent Convertible & Income Fund ($1.4M), Neuberger High Income Bond Fund ($1.3M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($1.1M), SHELTON TACTICAL CREDIT FUND ($1.0M), Neuberger High Yield Strategies Fund Inc. ($935K).
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 | 8 | $148.5M | $144.5M | 0.51% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 8 | $101.6M | $99.7M | 0.62% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 8 | $69.7M | $67.9M | 0.60% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 5 | $38.2M | $37.3M | 0.49% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 3 | $26.6M | $25.9M | 0.35% |
| FALN iShares Fallen Angels USD Bond ETF | 2026-07-31 | 1 | $25.3M | $25.0M | 1.55% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 8 | $25.2M | $24.8M | 0.71% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 4 | $25.0M | $24.6M | 0.50% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 1 | $20.6M | $20.8M | 1.29% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 4 | $19.7M | $20.0M | 0.90% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 8 | $16.8M | $16.5M | 0.69% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 8 | $15.0M | $14.7M | 0.58% |
| FSIG First Trust Limited Duration Investment Grade Corporate ETF | 2026-07-31 | 2 | $14.3M | $14.3M | 0.95% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 4 | $12.6M | $12.6M | 0.10% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 9 | $12.7M | $12.4M | 0.03% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 5.71: safer than 56% of companies (56th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $63.76B |
| Debt barrier (short-term + ½ long-term debt) | $7.89B |
| Equity volatility (1 year) | 42.5% |
| Asset value / asset volatility (solved) | $71.32B / 38.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 120 bp spread prices in about 2.0% 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'' = 2.87 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in URI'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 | 242 | $1.03B | 0 | — | 1 | $949K | 0 |
| 2026-06-30 | 1,584 | $63.33B | 36 | $1.05B | 34 | $1.09B | 1 |
| 2026-03-31 | 1,444 | $35.56B | 37 | $722.2M | 37 | $700.1M | 0 |
| 2025-12-31 | 1,521 | $45.23B | 37 | $963.9M | 34 | $895.5M | 1 |
| 2025-09-30 | 1,443 | $54.55B | 39 | $917.0M | 37 | $995.3M | 3 |
| 2025-06-30 | 1,334 | $44.15B | 36 | $664.6M | 36 | $700.7M | 2 |
Officials trading URI bonds
| Trade date | Official | Type | Description | Amount | Filing |
|---|---|---|---|---|---|
| 2026-03-02 | President Donald J. Trump | purchase | ***UNITED RENTALS NORTH AMER INC SENIOR SECURED NOTES REG S DUE 12/15/2029 06.000%JD 15 DI | $500,001 - $1,000,000 | filing |
| 2026-02-04 | President Donald J. Trump | purchase | ***UNITED RENTALS NORTH AMER INC SENIOR SECURED NOTES REG S DUE 12/15/2029 06.000NKD 15 DI | $100,001 - $250,000 | filing |
| 2026-01-20 | President Donald J. Trump | purchase | —UNITED RENTALS NORTH AMER INC SENIOR SECURED NOTES REG S DUE 12/15/2029 06.000% JD 15 DIS | $100,001 - $250,000 | filing |
| 2026-01-02 | President Donald J. Trump | purchase | —UNITED RENTALS NORTH AMER INC SENIOR SECURED NOTES REG S DUE 12/15/2029 06.000% JD 15 DIS | $500,001 - $1,000,000 | filing |
| 2025-12-12 | President Donald J. Trump | purchase | ***UNITED RENTALS NORTH AMER INC SENIOR SECURED NOTES REG S DUE 12/15/2029 06.000% JD 15 D | $250,001 - $500,000 | filing |
| 2025-11-04 | President Donald J. Trump | purchase | ***UNITED RENTALS NORTH AMER INC SENIOR SECURED NOTES REG S DUE 12/15/2029 06.000% JD 15 D | $100,001 - $250,000 | filing |
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.