USA Compression Partners, LP bonds USAC
Who owns USA Compression Partners, LP'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. USAC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 91740PAG3 | 7.125% fixed | 2029-03-15 | USD | 102.13 | 6.23% | 198 bp | 54 | $177.1M | Jul 2026 |
| 91740PAH1 | 6.25% fixed | 2033-10-01 | USD | 98.43 | 6.53% | 206 bp | 52 | $116.9M | 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 |
|---|---|---|---|---|---|---|
| Jul 2026 | 2 | $294.0M | 100.28 | 6.38% | 202 bp | 54 |
| Jun 2026 | 2 | $376.4M | 100.82 | 6.26% | 202 bp | 100 |
| May 2026 | 2 | $101.6M | 101.69 | 6.06% | 188 bp | 36 |
| Apr 2026 | 2 | $291.8M | 102.13 | 5.97% | 198 bp | 59 |
| Mar 2026 | 2 | $404.2M | 101.04 | 6.27% | 237 bp | 103 |
| Feb 2026 | 2 | $101.7M | 102.49 | 5.94% | 221 bp | 35 |
| Jan 2026 | 2 | $286.1M | 102.42 | 5.95% | 212 bp | 60 |
| Dec 2025 | 2 | $427.8M | 102.38 | 5.97% | 221 bp | 115 |
| Nov 2025 | 2 | $96.0M | 102.42 | 5.95% | 220 bp | 35 |
| Oct 2025 | 2 | $276.7M | 101.85 | 6.10% | 238 bp | 61 |
| Sep 2025 | 3 | $519.0M | 100.41 | 6.18% | 251 bp | 108 |
| Aug 2025 | 2 | $110.7M | 101.28 | 6.58% | 288 bp | 33 |
| Jul 2025 | 2 | $298.2M | 101.13 | 6.64% | 276 bp | 64 |
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. 44 added, 41 cut, 6 new holders and 15 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $84.3M | $84.8M | $0 |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $58.9M | $58.9M | $3.0M |
| Franklin Income Fund Franklin Custodian Funds | 2026-06-30 | $40.0M | $41.0M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $39.4M | $39.7M | $6.5M |
| American High Income Trust | 2026-06-30 | $35.7M | $35.7M | $0 |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $35.0M | $35.1M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $25.3M | $25.8M | $37K |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $25.4M | $25.7M | -$1.2M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $20.8M | $21.3M | $4.2M |
| Income Fund of America | 2026-07-31 | $17.4M | $17.2M | $0 |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $14.7M | $14.9M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $13.6M | $13.7M | $804K |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $13.4M | $13.7M | $5.6M |
| Nuveen High Yield Fund TIAA-CREF Funds | 2026-06-30 | $11.6M | $11.8M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $10.1M | $10.3M | -$67K |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $9.0M | $9.2M | -$25K |
| MFS High Income Fund MFS Series Trust III | 2026-07-31 | $8.6M | $8.8M | $0 |
| T. Rowe Price U.S. High Yield ETF T. Rowe Price Exchange-Traded Funds, Inc. | 2026-05-31 | $8.6M | $8.6M | $0 |
| American Funds Strategic Bond Fund | 2026-06-30 | $7.1M | $7.3M | $0 |
| Neuberger Strategic Income Fund NEUBERGER BERMAN INCOME FUNDS | 2026-07-31 | $7.0M | $7.0M | $772K |
| Columbia Strategic Income Fund COLUMBIA FUNDS SERIES TRUST I | 2026-05-31 | $6.8M | $7.0M | -$472K |
| Virtus Newfleet Short Duration High Income Fund Virtus Strategy Trust | 2026-06-30 | $6.5M | $6.6M | $0 |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $6.3M | $6.5M | $0 |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $6.3M | $6.4M | $0 |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.7M | $5.9M | $280K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Janus Henderson Multi-Sector Income Fund ($21.4M), Nuveen Real Asset Income Fund ($1.6M), Multi-Manager High Yield Bond Fund ($1.5M), CITY NATIONAL ROCHDALE FIXED INCOME OPPORTUNITIES FUND ($1.4M), BondBloxx BB Rated USD High Yield Corporate Bond ETF ($934K), Nuveen Real Asset Income and Growth Fund ($790K), Global Bond Fund ($550K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($547K), Janus Henderson Income ETF ($496K), Guardian Multi-Sector Bond VIP Fund ($481K).
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 | $39.4M | $39.7M | 0.14% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $25.3M | $25.8M | 0.16% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $13.6M | $13.7M | 0.12% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $10.1M | $10.3M | 0.14% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $9.0M | $9.2M | 0.12% |
| THYF T. Rowe Price U.S. High Yield ETF | 2026-05-31 | 1 | $8.6M | $8.6M | 1.06% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $5.7M | $5.9M | 0.12% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $5.2M | $5.3M | 0.15% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $3.5M | $3.6M | 0.15% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 2 | $3.3M | $3.4M | 0.06% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 2 | $2.8M | $2.9M | 0.06% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $2.7M | $2.8M | 0.11% |
| HYBL State Street(R) Blackstone High Income ETF | 2026-06-30 | 2 | $2.6M | $2.7M | 0.48% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $1.9M | $1.9M | 0.00% |
| IBHI iShares iBonds 2029 Term High Yield and Income ETF | 2026-07-31 | 1 | $1.8M | $1.8M | 0.37% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 6.31: safer than 61% of companies (68th percentile in Energy). Market-implied, prices to 2026-10-05, balance sheet 2026-06-30.
| Equity value | $3.68B |
| Debt barrier (short-term + ½ long-term debt) | $1.47B |
| Equity volatility (1 year) | 27.7% |
| Asset value / asset volatility (solved) | $5.09B / 20.0% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 202 bp spread prices in about 3.4% 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 = 1.31 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in USAC'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 | 12 | $8.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 128 | $1.40B | 5 | $6.4M | 7 | $26.8M | 0 |
| 2026-03-31 | 113 | $1.10B | 5 | $3.1M | 6 | $10.7M | 0 |
| 2025-12-31 | 101 | $909.4M | 6 | $8.0M | 5 | $2.2M | 0 |
| 2025-09-30 | 99 | $1.17B | 4 | $3.7M | 7 | $8.2M | 0 |
| 2025-06-30 | 92 | $1.20B | 5 | $5.2M | 7 | $13.3M | 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.