WaterBridge Infrastructure LLC bonds WBI
Who owns WaterBridge Infrastructure LLC'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. WBI 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 |
|---|---|---|---|---|---|---|---|---|---|
| 92944BAA9 | 6.25% fixed | 2030-10-15 | USD | 100.00 | 6.25% | 194 bp | 48 | $82.3M | Jul 2026 |
| 92944BAB7 | 6.5% fixed | 2033-10-15 | USD | 99.84 | 6.53% | 206 bp | 44 | $60.5M | 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 | $70K | 100.33 | 6.44% | 191 bp | 1 |
| Jul 2026 | 2 | $142.8M | 99.92 | 6.39% | 200 bp | 48 |
| Jun 2026 | 2 | $201.4M | 100.62 | 6.24% | 197 bp | 69 |
| May 2026 | 2 | $97.5M | 101.08 | 6.15% | 192 bp | 31 |
| Apr 2026 | 2 | $141.3M | 101.26 | 6.10% | 207 bp | 49 |
| Mar 2026 | 2 | $188.8M | 99.94 | 6.36% | 241 bp | 63 |
| Feb 2026 | 2 | $106.9M | 101.78 | 6.00% | 220 bp | 36 |
| Jan 2026 | 2 | $138.6M | 100.91 | 6.19% | 229 bp | 51 |
| Dec 2025 | 2 | $184.0M | 100.16 | 6.32% | 250 bp | 70 |
| Nov 2025 | 2 | $99.6M | 100.00 | 6.37% | 258 bp | 35 |
| Oct 2025 | 2 | $107.5M | 99.98 | 6.38% | 260 bp | 46 |
| Sep 2025 | 1 | $110K | 100.00 | 6.50% | 255 bp | 1 |
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. 33 added, 36 cut, 16 new holders and 7 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $29.2M | $29.2M | $3.3M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $25.3M | $25.5M | $0 |
| BrandywineGLOBAL - HIGH YIELD FUND Legg Mason Partners Investment Trust | 2026-06-30 | $21.7M | $21.8M | -$3.7M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $20.3M | $20.5M | -$1.7M |
| Eaton Vance Income Fund of Boston Eaton Vance Series Trust II | 2026-07-31 | $19.5M | $19.5M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $15.2M | $15.3M | $5.1M |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $14.8M | $14.9M | $65K |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $13.4M | $13.5M | $880K |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $12.7M | $12.8M | -$430K |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $10.5M | $10.5M | $0 |
| Lord Abbett Floating Rate Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $9.7M | $9.8M | $0 |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $9.5M | $9.6M | -$2.5M |
| HIGH INCOME OPPORTUNITIES PORTFOLIO High Income Opportunities Portfolio | 2026-07-31 | $7.9M | $7.9M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $7.6M | $7.6M | -$25K |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $7.5M | $7.5M | $0 |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $7.3M | $7.4M | $104K |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $7.3M | $7.4M | $0 |
| Global Opportunities Portfolio | 2026-07-31 | $7.0M | $7.0M | $0 |
| Weitz Core Plus Income Fund Weitz Funds | 2026-06-30 | $6.5M | $6.5M | $0 |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $6.1M | $6.1M | $0 |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.8M | $5.8M | $1.6M |
| Neuberger Strategic Income Fund NEUBERGER BERMAN INCOME FUNDS | 2026-07-31 | $5.7M | $5.7M | $0 |
| Lord Abbett Core Plus Bond Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $4.3M | $4.4M | $0 |
| Xtrackers USD High Yield Corporate Bond ETF DBX ETF Trust | 2026-05-29 | $4.3M | $4.4M | -$439K |
| Calvert High Yield Bond Fund Calvert Fund | 2026-06-30 | $4.1M | $4.1M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Opportunistic Credit Fund ($1.1M), Weitz Core Plus Bond ETF ($500K), TCW Flexible Income ETF ($480K), Western Asset Premier Bond Fund ($310K), AB High Yield ETF ($211K), John Hancock High Yield ETF ($170K), BlackRock Global Allocation Fund, Inc. ($107K).
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 | $29.2M | $29.2M | 0.10% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $20.3M | $20.5M | 0.13% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $15.2M | $15.3M | 0.13% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $13.4M | $13.5M | 0.18% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $7.6M | $7.6M | 0.10% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $5.8M | $5.8M | 0.12% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $4.3M | $4.4M | 0.12% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $2.9M | $2.9M | 0.17% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $2.7M | $2.8M | 0.12% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 1 | $2.3M | $2.3M | 0.11% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $2.1M | $2.1M | 0.08% |
| XAGG Eaton Vance Income Opportunities ETF | 2026-06-30 | 1 | $2.0M | $2.0M | 0.17% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $1.7M | $1.7M | 0.00% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $930K | $930K | 0.08% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 2 | $901K | $901K | 0.17% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 3.38: safer than 30% of companies (39th percentile in Energy). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $1.32B |
| Debt barrier (short-term + ½ long-term debt) | $811.6M |
| Equity volatility (1 year) | 44.8% |
| Asset value / asset volatility (solved) | $2.10B / 28.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 200 bp spread prices in about 3.3% 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 = 0.63 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in WBI'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 | 9 | $6.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 157 | $2.28B | 5 | $5.5M | 6 | $8.7M | 0 |
| 2026-03-31 | 147 | $1.40B | 7 | $6.7M | 2 | $1.0M | 0 |
| 2025-12-31 | 103 | $688.0M | 2 | $22K | 3 | $1.3M | 0 |
| 2025-09-30 | 110 | $852.8M | 0 | — | 0 | — | 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.