Cascades Inc. bonds CAS.TO
Who owns Cascades Inc.'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. CAS.TO 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 |
|---|---|---|---|---|---|---|---|---|---|
| 14739LAB8 | 5.375% fixed | 2028-01-15 | USD | 99.52 | 5.72% | 160 bp | 19 | $48.2M | Jul 2026 |
| 14739LAD4 | 6.75% fixed | 2030-07-15 | USD | 101.62 | 6.28% | 199 bp | 32 | $55.1M | 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 | $103.3M | 100.57 | 6.00% | 179 bp | 32 |
| Jun 2026 | 2 | $52.6M | 100.97 | 5.81% | 171 bp | 27 |
| May 2026 | 2 | $29.2M | 100.67 | 5.94% | 192 bp | 13 |
| Apr 2026 | 2 | $115.0M | 99.63 | 6.47% | 264 bp | 32 |
| Mar 2026 | 2 | $50.2M | 99.97 | 6.23% | 248 bp | 23 |
| Feb 2026 | 2 | $28.6M | 101.19 | 5.77% | 222 bp | 12 |
| Jan 2026 | 2 | $120.4M | 101.73 | 5.63% | 199 bp | 36 |
| Dec 2025 | 2 | $58.7M | 101.96 | 5.59% | 201 bp | 28 |
| Nov 2025 | 2 | $26.8M | 102.08 | 5.54% | 194 bp | 10 |
| Oct 2025 | 2 | $116.7M | 101.08 | 5.81% | 223 bp | 34 |
| Sep 2025 | 2 | $48.9M | 100.55 | 6.01% | 240 bp | 24 |
| Aug 2025 | 2 | $27.3M | 99.77 | 6.35% | 261 bp | 10 |
| Jul 2025 | 2 | $111.1M | 98.78 | 6.58% | 268 bp | 31 |
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. 20 added, 16 cut, 5 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| High Yield Fund Principal Funds, Inc | 2026-07-31 | $19.6M | $19.7M | -$12.7M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $16.4M | $16.5M | $1.7M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $10.6M | $10.6M | -$360K |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $10.0M | $9.9M | -$170K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $9.9M | $9.9M | -$50K |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $7.7M | $7.8M | $65K |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $7.1M | $7.2M | $1.7M |
| Transamerica High Yield Bond TRANSAMERICA FUNDS | 2026-07-31 | $6.7M | $6.8M | $0 |
| Credit Suisse Strategic Income Fund CREDIT SUISSE OPPORTUNITY FUNDS | 2026-07-31 | $6.5M | $6.5M | $0 |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $5.6M | $5.6M | $0 |
| Multi-Manager High Yield Bond Fund Goldman Sachs Trust II | 2026-07-31 | $4.9M | $5.0M | -$61K |
| Brookfield Real Assets Income Fund Inc. | 2026-06-30 | $3.3M | $3.3M | $0 |
| Fidelity Advisor Strategic Income Fund Fidelity Advisor Series II | 2026-06-30 | $3.3M | $3.3M | $0 |
| VOYA INTERMEDIATE BOND FUND Voya Funds Trust | 2026-06-30 | $3.3M | $3.3M | $0 |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $3.1M | $3.1M | -$1.7M |
| NYLIM MacKay Strategic Bond Fund NYLIM FUNDS | 2026-07-31 | $3.0M | $3.0M | $0 |
| VOYA STRATEGIC INCOME OPPORTUNITIES FUND Voya Funds Trust | 2026-06-30 | $3.0M | $3.0M | $2.5M |
| T. Rowe Price Institutional High Yield Fund T. ROWE PRICE INSTITUTIONAL INCOME FUNDS, INC. | 2026-05-31 | $2.6M | $2.6M | $0 |
| Invesco BulletShares 2028 High Yield Corporate Bond ETF Invesco Exchange-Traded Self-Indexed Fund Trust | 2026-05-31 | $2.4M | $2.4M | $340K |
| SIIT HIGH YIELD BOND FUND SEI INSTITUTIONAL INVESTMENTS TRUST | 2026-05-31 | $2.3M | $2.4M | $0 |
| THRIVENT CORE HIGH YIELD BOND FUND Thrivent Core Funds | 2026-07-31 | $2.2M | $2.2M | $0 |
| PIA High Yield MACS Fund Advisors Series Trust | 2026-05-31 | $2.1M | $2.1M | $0 |
| ICON FLEXIBLE BOND FUND SCM Trust | 2026-06-30 | $2.0M | $2.0M | $0 |
| Transamerica AEGON High Yield Bond VP TRANSAMERICA SERIES TRUST | 2026-06-30 | $2.0M | $2.0M | $0 |
| CALAMOS STRATEGIC TOTAL RETURN FUND | 2026-07-31 | $1.9M | $1.9M | $0 |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): THRIVENT MODERATE ALLOCATION PORTFOLIO ($308K), Invesco Multi-Asset Income Fund ($210K).
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 | $16.4M | $16.5M | 0.06% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $9.9M | $9.9M | 0.09% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $7.7M | $7.8M | 0.10% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $7.1M | $7.2M | 0.15% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $2.4M | $2.4M | 0.35% |
| SRLN State Street(R) Blackstone Senior Loan ETF | 2026-06-30 | 1 | $1.8M | $1.9M | 0.04% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $1.8M | $1.8M | 0.07% |
| HYBL State Street(R) Blackstone High Income ETF | 2026-06-30 | 1 | $1.8M | $1.8M | 0.32% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $1.6M | $1.7M | 0.07% |
| IBHH iShares iBonds 2028 Term High Yield and Income ETF | 2026-07-31 | 1 | $1.4M | $1.4M | 0.31% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 2 | $1.0M | $1.0M | 0.00% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $920K | $935K | 0.09% |
| IQHI NYLIM MacKay High Income ETF | 2026-07-31 | 2 | $840K | $841K | 0.75% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 2 | $525K | $529K | 0.10% |
| SIHY Harbor Ares Systematic High Yield ETF | 2026-07-31 | 1 | $500K | $499K | 0.33% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 4.80: safer than 47% of companies (45th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-19, balance sheet 2026-06-30.
| Equity value | $1.29B |
| Debt barrier (short-term + ½ long-term debt) | $657.7M |
| Equity volatility (1 year) | 33.8% |
| Asset value / asset volatility (solved) | $1.92B / 22.7% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 179 bp spread prices in about 3.0% 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'' = 2.29 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in CAS.TO'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 |
|---|---|---|---|---|---|---|---|
| 2025-09-30 | 1 | $360K | 0 | — | 0 | — | 0 |
| 2025-03-31 | 1 | $350K | 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.