Gladstone Capital Corporation bonds GLAD
Who owns Gladstone Capital 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. GLAD 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 |
|---|---|---|---|---|---|---|---|---|---|
| 376535AH3 | 7% fixed | 2029-12-15 | USD | 100.36 | 6.87% | 260 bp | 1 | $60.2M | Jul 2026 |
| 376535AG5 | 5.875% fixed | 2030-10-01 | USD | 95.95 | 7.01% | 271 bp | 3 | $9.9M | 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 | $70.1M | 98.16 | 6.94% | 266 bp | 3 |
| May 2026 | 1 | $952K | 95.20 | 7.18% | 307 bp | 3 |
| Apr 2026 | 1 | $9.7M | 95.28 | 7.14% | 323 bp | 3 |
| Feb 2026 | 1 | $1.9M | 93.96 | 7.45% | 380 bp | 3 |
| Jan 2026 | 1 | $14.5M | 97.18 | 6.58% | 283 bp | 5 |
| Nov 2025 | 1 | $2.0M | 98.12 | 6.33% | 267 bp | 3 |
| Oct 2025 | 2 | $52.2M | 98.27 | 6.71% | 307 bp | 2 |
| Jul 2025 | 1 | $38.4M | 99.95 | — | — | 2 |
| Apr 2025 | 1 | $36.7M | 99.94 | — | — | 2 |
| Jan 2025 | 1 | $36.2M | 98.75 | — | — | 2 |
| Oct 2024 | 1 | $35.8M | 98.50 | 6.38% | 224 bp | 2 |
| Jul 2024 | 1 | $34.9M | 97.25 | 7.09% | 239 bp | 2 |
| Apr 2024 | 1 | $34.5M | 97.00 | 6.97% | 203 bp | 2 |
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. 3 added, 3 cut, 0 new holders and 0 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 | $68.9M | $68.8M | $60.0M |
| Multi-Asset Strategy Fund RUSSELL INVESTMENT CO | 2026-07-31 | $857K | $821K | $50K |
| WATER ISLAND CREDIT OPPORTUNITIES FUND ARBITRAGE FUNDS | 2026-05-31 | $717K | $683K | -$706K |
| Multi-Strategy Income Fund RUSSELL INVESTMENT CO | 2026-07-31 | $519K | $497K | $31K |
| Water Island Event-Driven Fund ARBITRAGE FUNDS | 2026-05-31 | $232K | $221K | -$287K |
| AltShares Event-Driven ETF AltShares Trust | 2026-05-31 | $51K | $49K | -$7K |
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 |
|---|---|---|---|---|---|
| EVNT AltShares Event-Driven ETF | 2026-05-31 | 1 | $51K | $49K | 0.40% |
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 266 bp spread prices in about 4.4% 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 GLAD'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 | 9 | $6.8M | 0 | — | 0 | — | 1 |
| 2026-06-30 | 76 | $55.7M | 4 | $1.2M | 4 | $1.8M | 17 |
| 2026-03-31 | 80 | $43.0M | 4 | $1.2M | 5 | $1.7M | 19 |
| 2025-12-31 | 87 | $53.4M | 4 | $1.8M | 4 | $1.0M | 17 |
| 2025-09-30 | 85 | $47.6M | 2 | $1.8M | 3 | $785K | 16 |
| 2025-06-30 | 79 | $47.3M | 2 | $752K | 4 | $1.5M | 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.