Graham Holdings Company bonds GHC
Who owns Graham Holdings Company'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. GHC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 384637AC8 | 5.625% fixed | 2033-12-01 | USD | 97.69 | 6.02% | 154 bp | 29 | $61.5M | 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 | $49K | 97.86 | 5.99% | 146 bp | 1 |
| Jul 2026 | 1 | $61.5M | 97.69 | 6.02% | 154 bp | 29 |
| Jun 2026 | 1 | $93.5M | 99.27 | 5.75% | 140 bp | 42 |
| May 2026 | 1 | $9.5M | 98.35 | 5.90% | 156 bp | 16 |
| Apr 2026 | 1 | $62.0M | 99.04 | 5.78% | 162 bp | 30 |
| Mar 2026 | 1 | $94.3M | 98.05 | 5.94% | 186 bp | 44 |
| Feb 2026 | 1 | $6.8M | 100.11 | 5.61% | 166 bp | 15 |
| Jan 2026 | 1 | $48.6M | 100.55 | 5.54% | 148 bp | 31 |
| Dec 2025 | 1 | $76.8M | 101.11 | 5.45% | 148 bp | 48 |
| Nov 2025 | 1 | $4.6M | 100.18 | 5.60% | 166 bp | 14 |
| Oct 2025 | 1 | $73.1M | 99.96 | — | — | 5 |
| Sep 2025 | 1 | $95.1M | 100.05 | — | — | 17 |
| Aug 2025 | 1 | $20.7M | 99.63 | — | — | 3 |
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, 8 cut, 2 new holders and 4 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| BrandywineGLOBAL - HIGH YIELD FUND Legg Mason Partners Investment Trust | 2026-06-30 | $30.2M | $30.0M | $0 |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $19.7M | $19.5M | $0 |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $18.8M | $18.3M | $0 |
| Goldman Sachs High Yield Fund GOLDMAN SACHS TRUST | 2026-06-30 | $9.4M | $9.3M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $8.9M | $8.7M | -$33K |
| First Trust Tactical High Yield ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $8.4M | $8.2M | $0 |
| NYLIM VP MacKay High Yield Corporate Bond Portfolio NYLIM VP FUNDS TRUST | 2026-06-30 | $6.9M | $6.9M | $1.7M |
| MFS High Income Fund MFS Series Trust III | 2026-07-31 | $6.4M | $6.3M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $6.1M | $6.1M | -$733K |
| Goldman Sachs Income Builder Fund GOLDMAN SACHS TRUST | 2026-07-31 | $4.8M | $4.7M | $0 |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $3.4M | $3.4M | -$1.7M |
| First Trust High Yield Opportunities 2027 Term Fund | 2026-05-29 | $3.2M | $3.1M | $1.3M |
| Boyd Watterson Limited Duration Enhanced Income Fund NORTHERN LIGHTS FUND TRUST III | 2026-06-30 | $3.0M | $3.0M | $0 |
| First Trust Senior Loan Fund First Trust Exchange-Traded Fund IV | 2026-07-31 | $2.9M | $2.8M | $0 |
| Goldman Sachs High Yield Floating Rate Fund GOLDMAN SACHS TRUST | 2026-06-30 | $2.4M | $2.4M | $0 |
| MEDIUM-DURATION BOND FUND GuideStone Funds | 2026-06-30 | $1.9M | $1.9M | $0 |
| High Yield Fund John Hancock Bond Trust | 2026-05-31 | $1.9M | $1.9M | $519K |
| DoubleLine Core Fixed Income Fund DoubleLine Funds Trust | 2026-06-30 | $1.9M | $1.9M | $0 |
| Advent Convertible & Income Fund ADVENT CONVERTIBLE & INCOME FUND | 2026-07-31 | $1.9M | $1.8M | $0 |
| MFS High Yield Pooled Portfolio MFS Series Trust III | 2026-07-31 | $1.8M | $1.8M | $112K |
| Nuveen High Yield Corporate Bond ETF NuShares ETF Trust | 2026-07-31 | $1.8M | $1.7M | $0 |
| Nationwide Bond Portfolio Nationwide Mutual Funds | 2026-07-31 | $1.6M | $1.6M | $0 |
| MML Barings High Yield Fund MASSMUTUAL PREMIER FUNDS | 2026-06-30 | $1.3M | $1.3M | $0 |
| State Street(R) DoubleLine(R) Total Return Tactical ETF SSGA Active Trust | 2026-06-30 | $1.1M | $1.1M | $0 |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $1.1M | $1.1M | $109K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): SIMT Multi-Asset Income Fund ($740K), MFS MULTIMARKET INCOME TRUST ($533K), Goldman Sachs Income Fund ($385K), Muzinich Flexible U.S. High Yield Income Fund ($175K).
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 | 1 | $8.9M | $8.7M | 0.03% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 1 | $8.4M | $8.2M | 0.51% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $6.1M | $6.1M | 0.05% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $3.4M | $3.4M | 0.05% |
| FTSL First Trust Senior Loan Fund | 2026-07-31 | 1 | $2.9M | $2.8M | 0.12% |
| TOTL State Street(R) DoubleLine(R) Total Return Tactical ETF | 2026-06-30 | 1 | $1.1M | $1.1M | 0.03% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $1.1M | $1.1M | 0.04% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $941K | $924K | 0.04% |
| HYGV FlexShares High Yield Value - Scored Bond Index Fund | 2026-07-31 | 1 | $650K | $634K | 0.06% |
| GBND Goldman Sachs Core Bond ETF | 2026-05-31 | 1 | $613K | $603K | 0.12% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $591K | $579K | 0.00% |
| CPLB NYLIM MacKay Core Plus Bond ETF | 2026-07-31 | 1 | $350K | $342K | 0.09% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $330K | $323K | 0.06% |
| DBND DoubleLine Opportunistic Core Bond ETF | 2026-06-30 | 1 | $300K | $298K | 0.04% |
| DMX DoubleLine Multi-Sector Income ETF | 2026-06-30 | 1 | $280K | $278K | 0.29% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 10.95: safer than 84% of companies (85th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $5.12B |
| Debt barrier (short-term + ½ long-term debt) | $545.9M |
| Equity volatility (1 year) | 23.7% |
| Asset value / asset volatility (solved) | $5.64B / 21.5% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 154 bp spread prices in about 2.6% 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'' = 6.42 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in GHC'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 | 27 | $36.2M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 328 | $3.09B | 0 | — | 0 | — | 0 |
| 2026-03-31 | 315 | $2.45B | 0 | — | 0 | — | 0 |
| 2025-12-31 | 339 | $2.94B | 0 | — | 0 | — | 0 |
| 2025-09-30 | 319 | $3.19B | 0 | — | 0 | — | 0 |
| 2025-06-30 | 302 | $2.57B | 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.