The Cheesecake Factory Incorporated bonds CAKE
Who owns The Cheesecake Factory Incorporated'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. CAKE 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 |
|---|---|---|---|---|---|---|---|---|---|
| 163072AC5 convertible | 2% fixed | 2030-03-15 | USD | 152.53 | — | — | 13 | $101.1M | Jul 2026 |
Spread history
Median spread of the US-dollar bonds over Treasuries, month-ends with complete filings. Fund-reported.
Not enough US-dollar bonds with a yield.
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 | $101.1M | 152.53 | — | — | 13 |
| Jun 2026 | 1 | $24.4M | 127.32 | — | — | 21 |
| May 2026 | 2 | $8.7M | 106.95 | — | — | 5 |
| Apr 2026 | 2 | $57.3M | 105.77 | — | — | 9 |
| Mar 2026 | 2 | $15.4M | 100.13 | — | — | 7 |
| Feb 2026 | 2 | $9.0M | 106.93 | — | — | 5 |
| Jan 2026 | 2 | $47.5M | 102.40 | — | — | 6 |
| Dec 2025 | 2 | $16.0M | 98.36 | — | — | 9 |
| Nov 2025 | 2 | $8.0M | 96.66 | — | — | 5 |
| Oct 2025 | 2 | $42.0M | 98.13 | — | — | 7 |
| Sep 2025 | 2 | $17.6M | 100.68 | — | — | 8 |
| Aug 2025 | 2 | $10.1M | 104.88 | — | — | 5 |
| Jul 2025 | 2 | $38.8M | 107.53 | — | — | 8 |
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. 6 added, 5 cut, 18 new holders and 5 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $19.0M | $29.0M | $11.0M |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $12.1M | $18.5M | $1.4M |
| Fidelity SAI Convertible Arbitrage Fund Fidelity Greenwood Street Trust | 2026-07-31 | $11.9M | $18.0M | $0 |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $9.4M | $11.9M | $1.5M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $7.7M | $11.8M | new |
| Miller Market Neutral Income Fund Miller Investment Trust | 2026-07-31 | $7.0M | $10.7M | $3.0M |
| EUBEL BRADY & SUTTMAN INCOME AND APPRECIATION FUND Eubel Brady & Suttman Mutual Fund Trust | 2026-07-31 | $5.0M | $7.6M | $0 |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $4.3M | $5.5M | $739K |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $3.7M | $4.2M | $0 |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $3.0M | $3.8M | new |
| WESTWOOD ALTERNATIVE INCOME FUND Ultimus Managers Trust | 2026-07-31 | $2.0M | $3.0M | $0 |
| JPMorgan Global Bond Opportunities Fund JPMorgan Trust I | 2026-05-31 | $2.0M | $2.2M | $0 |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $1.4M | $1.6M | -$170K |
| Morningstar Alternatives Fund Morningstar Funds Trust | 2026-07-31 | $993K | $1.5M | $0 |
| Strategic Alternatives Fund GuideStone Funds | 2026-06-30 | $912K | $1.2M | $83K |
| JPMorgan Flexible Debt ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $681K | $733K | $0 |
| Loomis Sayles Strategic Income Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $389K | $495K | new |
| First Trust SSI Strategic Convertible Securities ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $300K | $457K | $0 |
| Loomis Sayles Investment Grade Bond Fund LOOMIS SAYLES FUNDS II | 2026-06-30 | $271K | $345K | new |
| JNL Multi-Manager Alternative Fund JNL Series Trust | 2026-06-30 | $207K | $263K | -$358K |
| Bridge Builder Core Plus Bond Fund Bridge Builder Trust | 2026-06-30 | $151K | $192K | new |
| Calamos Convertible Equity Alternative ETF Calamos ETF Trust | 2026-07-31 | $123K | $188K | new |
| Harbor Ares Systematic Convertible Securities Fund HARBOR FUNDS | 2026-07-31 | $100K | $152K | new |
| Empower Core Strategies: Flexible Bond Fund EMPOWER FUNDS, INC. | 2026-06-30 | $104K | $132K | new |
| PACE Alternative Strategies Investments PACE SELECT ADVISORS TRUST | 2026-07-31 | $79K | $120K | -$159K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): NYLI MacKay Convertible Fund ($9.2M), Goldman Sachs High Yield Fund ($1.7M), Defensive Market Strategies Fund ($449K), Multi-Asset Strategy Fund ($248K), Multi-Strategy Income Fund ($150K).
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 |
|---|---|---|---|---|---|
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 1 | $12.1M | $18.5M | 0.26% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 1 | $9.4M | $11.9M | 0.19% |
| JFLX JPMorgan Flexible Debt ETF | 2026-05-31 | 2 | $681K | $733K | 0.05% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $300K | $457K | 0.45% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 8.17: safer than 73% of companies (72th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $5.77B |
| Debt barrier (short-term + ½ long-term debt) | $281.4M |
| Equity volatility (1 year) | 39.0% |
| Asset value / asset volatility (solved) | $6.04B / 37.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
No US-dollar bond with a yield to compute it from.
Accounts: Altman Z
Altman Z'' = 1.51 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CAKE'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 | 32 | $30.8M | 0 | — | 0 | — | 1 |
| 2026-06-30 | 330 | $3.96B | 13 | $36.9M | 12 | $53.5M | 51 |
| 2026-03-31 | 314 | $2.36B | 13 | $21.3M | 11 | $27.9M | 56 |
| 2025-12-31 | 301 | $2.72B | 13 | $25.5M | 12 | $27.8M | 24 |
| 2025-09-30 | 316 | $3.07B | 11 | $30.8M | 16 | $46.7M | 29 |
| 2025-06-30 | 308 | $3.43B | 11 | $30.6M | 15 | $43.4M | 27 |
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.