Valaris Limited bonds VAL
Who owns Valaris Limited'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. VAL 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 |
|---|---|---|---|---|---|---|---|---|---|
| 91889FAC5 | 8.375% fixed | 2030-04-30 | USD | 103.54 | 7.27% | 299 bp | 54 | $152.7M | 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 | $152.7M | 103.54 | 7.27% | 299 bp | 54 |
| Jun 2026 | 1 | $173.7M | 103.86 | 7.20% | 302 bp | 92 |
| May 2026 | 1 | $76.5M | 104.05 | 7.17% | 308 bp | 34 |
| Apr 2026 | 1 | $154.3M | 104.27 | 7.13% | 325 bp | 59 |
| Mar 2026 | 1 | $168.7M | 103.65 | 7.32% | 353 bp | 87 |
| Feb 2026 | 1 | $81.0M | 104.87 | 7.00% | 339 bp | 35 |
| Jan 2026 | 1 | $169.4M | 104.51 | 7.12% | 340 bp | 61 |
| Dec 2025 | 1 | $229.4M | 104.09 | 7.25% | 360 bp | 100 |
| Nov 2025 | 1 | $76.7M | 104.25 | 7.23% | 359 bp | 35 |
| Oct 2025 | 1 | $160.2M | 104.34 | 7.23% | 361 bp | 60 |
| Sep 2025 | 1 | $259.9M | 103.81 | 7.38% | 374 bp | 97 |
| Aug 2025 | 1 | $85.0M | 103.91 | 7.37% | 360 bp | 40 |
| Jul 2025 | 1 | $150.4M | 103.30 | 7.53% | 360 bp | 60 |
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. 32 added, 30 cut, 8 new holders and 8 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $41.2M | $42.7M | $0 |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $31.6M | $32.7M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $23.8M | $24.8M | -$1.1M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $22.2M | $23.0M | $2.1M |
| PIMCO CORPORATE & INCOME OPPORTUNITY FUND | 2026-06-30 | $19.5M | $20.2M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $14.8M | $15.4M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $13.9M | $14.5M | -$2.5M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $11.3M | $11.7M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $10.2M | $10.6M | $916K |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $10.0M | $10.4M | -$340K |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $9.3M | $9.6M | -$1.0M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $8.8M | $9.1M | $343K |
| PIMCO Multisector Bond Active Exchange-Traded Fund PIMCO ETF Trust | 2026-06-30 | $8.7M | $9.0M | $0 |
| PIMCO HIGH INCOME FUND | 2026-06-30 | $6.8M | $7.1M | $0 |
| PIMCO Dynamic Income Strategy Fund | 2026-06-30 | $6.7M | $6.9M | $0 |
| PIMCO CORPORATE & INCOME STRATEGY FUND | 2026-06-30 | $6.6M | $6.9M | $0 |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $6.1M | $6.3M | $367K |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $6.0M | $6.2M | $0 |
| PIMCO Income Strategy Fund II | 2026-06-30 | $5.9M | $6.1M | $0 |
| MFS High Income Fund MFS Series Trust III | 2026-07-31 | $5.4M | $5.6M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $4.8M | $5.0M | $0 |
| Goldman Sachs Multi-Manager Non-Core Fixed Income Fund Goldman Sachs Trust II | 2026-07-31 | $4.4M | $4.6M | $1.9M |
| Hotchkis and Wiley High Yield Fund HOTCHKIS & WILEY FUNDS/DE/ | 2026-06-30 | $3.7M | $3.9M | -$550K |
| Fidelity Enhanced High Yield ETF Fidelity Covington Trust | 2026-05-31 | $3.7M | $3.8M | $1.3M |
| JPMorgan Core Plus Bond Fund JPMorgan Trust II | 2026-05-31 | $3.5M | $3.7M | $70K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Payden High Income Fund ($2.2M), Harbor Ares Systematic High Yield ETF ($918K), BondBloxx BB Rated USD High Yield Corporate Bond ETF ($605K), MFS MULTIMARKET INCOME TRUST ($447K), Destinations Global Fixed Income Opportunities Fund ($250K), Invesco Multi-Asset Income Fund ($210K), THRIVENT MODERATE ALLOCATION PORTFOLIO ($175K), BlackRock Global Allocation Fund, Inc. ($112K).
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 | $22.2M | $23.0M | 0.08% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 1 | $13.9M | $14.5M | 0.09% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $10.2M | $10.6M | 0.14% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $9.3M | $9.6M | 0.13% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $8.8M | $9.1M | 0.08% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $6.1M | $6.3M | 0.13% |
| FDHY Fidelity Enhanced High Yield ETF | 2026-05-31 | 1 | $3.7M | $3.8M | 0.74% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $2.5M | $2.6M | 0.15% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $2.4M | $2.5M | 0.10% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.9M | $2.0M | 0.08% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 1 | $1.7M | $1.8M | 0.14% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 1 | $1.6M | $1.7M | 0.01% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $1.1M | $1.1M | 0.00% |
| VGHY VANGUARD HIGH-YIELD ACTIVE ETF | 2026-07-31 | 1 | $975K | $1.0M | 0.33% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $850K | $880K | 0.08% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.59: safer than 44% of companies (52th percentile in Energy). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $6.22B |
| Debt barrier (short-term + ½ long-term debt) | $543.8M |
| Equity volatility (1 year) | 57.1% |
| Asset value / asset volatility (solved) | $6.75B / 52.7% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 299 bp spread prices in about 5.0% 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'' = 4.01 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in VAL'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 | 23 | $4.5M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 351 | $4.49B | 14 | $69.1M | 17 | $170.7M | 2 |
| 2026-03-31 | 364 | $5.26B | 15 | $184.9M | 20 | $261.2M | 1 |
| 2025-12-31 | 330 | $2.86B | 20 | $106.1M | 19 | $75.2M | 2 |
| 2025-09-30 | 343 | $3.11B | 20 | $146.8M | 21 | $92.4M | 2 |
| 2025-06-30 | 331 | $2.62B | 21 | $132.3M | 25 | $94.9M | 2 |
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.