Capital Southwest Corporation bonds CSWC
Who owns Capital Southwest Corporation'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. CSWC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 140501AE7 convertible | 5.125% fixed | 2029-11-15 | USD | 103.95 | — | — | 1 | $208K | Jul 2026 |
| 140501AF4 | 5.95% fixed | 2030-09-18 | USD | 99.02 | 6.22% | 192 bp | 8 | $49.8M | 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 | $50.0M | 101.48 | 6.22% | 192 bp | 8 |
| Jun 2026 | 2 | $23.9M | 101.93 | 6.05% | 187 bp | 14 |
| May 2026 | 1 | $11.4M | 99.49 | 6.08% | 197 bp | 8 |
| Apr 2026 | 2 | $22.0M | 101.85 | 6.15% | 225 bp | 8 |
| Mar 2026 | 2 | $25.2M | 100.05 | 6.44% | 262 bp | 13 |
| Feb 2026 | 1 | $11.2M | 99.59 | 6.05% | 241 bp | 8 |
| Jan 2026 | 2 | $6.0M | 100.03 | 5.93% | 218 bp | 8 |
| Dec 2025 | 2 | $25.3M | 99.77 | 5.78% | 210 bp | 12 |
| Nov 2025 | 1 | $10.1M | 100.51 | 5.82% | 217 bp | 7 |
| Oct 2025 | 2 | $18.7M | 99.05 | 5.87% | 223 bp | 6 |
| Sep 2025 | 3 | $24.5M | 100.03 | 4.62% | 97 bp | 10 |
| Aug 2025 | 1 | $486K | 97.21 | 6.07% | 220 bp | 2 |
| Jul 2025 | 2 | $25.8M | 99.07 | 6.04% | 200 bp | 5 |
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. 9 added, 1 cut, 1 new holders and 2 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Holbrook Income Fund Two Roads Shared Trust | 2026-07-31 | $46.5M | $46.0M | $28.5M |
| VANGUARD TOTAL BOND MARKET INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $7.7M | $7.7M | $0 |
| VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND VANGUARD SCOTTSDALE FUNDS | 2026-05-31 | $7.5M | $7.5M | $83K |
| VANGUARD SHORT-TERM BOND INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $4.7M | $4.7M | $0 |
| Victory Investment Grade Convertible Fund Victory Portfolios | 2026-06-30 | $2.6M | $2.7M | $0 |
| VANGUARD TOTAL BOND MARKET II INDEX FUND VANGUARD BOND INDEX FUNDS | 2026-06-30 | $2.7M | $2.7M | $0 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $2.5M | $2.5M | $85K |
| iShares iBonds Dec 2030 Term Corporate ETF iShares Trust | 2026-07-31 | $2.3M | $2.3M | $240K |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $1.6M | $1.7M | $0 |
| State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $1.7M | $1.7M | $317K |
| iShares Core U.S. Aggregate Bond ETF iShares Trust | 2026-05-31 | $650K | $647K | $0 |
| iShares Broad USD Investment Grade Corporate Bond ETF iShares Trust | 2026-05-31 | $560K | $557K | $0 |
| Strategic Bond Fund RUSSELL INVESTMENT FUNDS | 2026-06-30 | $505K | $503K | new |
| Nuveen Bond Index Fund TIAA-CREF Funds | 2026-06-30 | $500K | $498K | $0 |
| Hilton BDC Corporate Bond ETF Tidal Trust II | 2026-07-31 | $413K | $409K | -$11K |
| VANGUARD BALANCED INDEX FUND VANGUARD VALLEY FORGE FUNDS | 2026-06-30 | $403K | $401K | $0 |
| Strategic Alternatives Fund GuideStone Funds | 2026-06-30 | $371K | $388K | $0 |
| Short Duration Bond Fund RUSSELL INVESTMENT CO | 2026-07-31 | $383K | $379K | $0 |
| iShares U.S. Intermediate Credit Bond Index Fund BlackRock Funds | 2026-07-31 | $250K | $248K | $0 |
| Harbor Ares Systematic Convertible Securities Fund HARBOR FUNDS | 2026-07-31 | $200K | $208K | $100K |
| State Street(R) SPDR(R) Portfolio Aggregate Bond ETF SPDR SERIES TRUST | 2026-06-30 | $200K | $199K | $0 |
| iShares Core Universal USD Bond ETF iShares Trust | 2026-07-31 | $200K | $198K | $10K |
| BNY Mellon Core Bond ETF BNY Mellon ETF Trust | 2026-07-31 | $200K | $198K | $0 |
| Schwab U.S. Aggregate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $175K | $174K | $0 |
| Schwab 1-5 Year Corporate Bond ETF SCHWAB STRATEGIC TRUST | 2026-06-30 | $160K | $159K | $70K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): AQR Diversified Arbitrage Fund ($2.6M), Morningstar Alternatives Fund ($483K).
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 |
|---|---|---|---|---|---|
| BND VANGUARD TOTAL BOND MARKET INDEX FUND | 2026-06-30 | 1 | $7.7M | $7.7M | 0.00% |
| VCSH VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 2026-05-31 | 1 | $7.5M | $7.5M | 0.01% |
| BSV VANGUARD SHORT-TERM BOND INDEX FUND | 2026-06-30 | 1 | $4.7M | $4.7M | 0.01% |
| IGSB iShares 1-5 Year Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $2.5M | $2.5M | 0.01% |
| IBDV iShares iBonds Dec 2030 Term Corporate ETF | 2026-07-31 | 1 | $2.3M | $2.3M | 0.07% |
| SPIB State Street(R) SPDR(R) Portfolio Intermediate Term Corporate Bond ETF | 2026-06-30 | 1 | $1.7M | $1.7M | 0.01% |
| AGG iShares Core U.S. Aggregate Bond ETF | 2026-05-31 | 1 | $650K | $647K | 0.00% |
| USIG iShares Broad USD Investment Grade Corporate Bond ETF | 2026-05-31 | 1 | $560K | $557K | 0.00% |
| SPAB State Street(R) SPDR(R) Portfolio Aggregate Bond ETF | 2026-06-30 | 1 | $200K | $199K | 0.00% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $200K | $198K | 0.00% |
| BKAG BNY Mellon Core Bond ETF | 2026-07-31 | 1 | $200K | $198K | 0.01% |
| SCHZ Schwab U.S. Aggregate Bond ETF | 2026-06-30 | 1 | $175K | $174K | 0.00% |
| SCHJ Schwab 1-5 Year Corporate Bond ETF | 2026-06-30 | 1 | $160K | $159K | 0.02% |
| SPBO State Street(R) SPDR Portfolio Corporate Bond ETF | 2026-06-30 | 1 | $155K | $154K | 0.01% |
| VTC VANGUARD TOTAL CORPORATE BOND ETF | 2026-05-31 | 1 | $100K | $100K | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 192 bp spread prices in about 3.2% 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
Not available.
The stock side: 13F filings
What institutions report holding in CSWC'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 | 20 | $68.0M | 0 | — | 0 | — | 1 |
| 2026-06-30 | 184 | $408.5M | 5 | $3.6M | 6 | $8.1M | 23 |
| 2026-03-31 | 162 | $339.7M | 6 | $12.9M | 4 | $7.3M | 26 |
| 2025-12-31 | 154 | $297.2M | 6 | $2.5M | 4 | $5.4M | 29 |
| 2025-09-30 | 159 | $328.0M | 6 | $4.4M | 3 | $5.3M | 22 |
| 2025-06-30 | 172 | $359.2M | 6 | $3.7M | 4 | $2.9M | 19 |
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.