Abstract: An adjustable fluid valve assembly includes a body that is operable to receive a spool that can be adjusted to vary the flow rate of the valve assembly. A lock nut secures the spool to the body and maintains the flow rate during operation of the valve assembly. The spool has a plurality of radially extending passages that allows fluid to be evenly distributed around the perimeter of the spool in a balanced manner in order to deliver a smooth continuous flow of fluid to an internal passage of the spool. An alternative embodiment employs a swivel fitting connected to the spool to allow adjustment of the fluid flow without disturbing the piping connected to the valve assembly.