Graphic Packaging Holding Company bonds GPK
Who owns Graphic Packaging Holding 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. GPK 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 |
|---|---|---|---|---|---|---|---|---|---|
| 38869AAA5 | 4.75% fixed | 2027-07-15 | USD | 99.38 | 5.42% | 139 bp | 24 | $29.6M | Jul 2026 |
| 38869AAB3 | 3.5% fixed | 2028-03-15 | USD | 96.96 | 5.48% | 132 bp | 23 | $85.3M | Jul 2026 |
| 38869AAC1 | 3.5% fixed | 2029-03-01 | USD | 94.77 | 5.70% | 146 bp | 24 | $38.4M | Jul 2026 |
| 38869AAD9 | 3.75% fixed | 2030-02-01 | USD | 93.27 | 5.91% | 163 bp | 35 | $92.4M | Jul 2026 |
| 38869AAE7 | 6.375% fixed | 2032-07-15 | USD | 99.89 | 6.40% | 200 bp | 34 | $77.9M | 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 | 5 | $323.6M | 96.96 | 5.80% | 154 bp | 35 |
| Jun 2026 | 5 | $200.2M | 97.01 | 5.51% | 137 bp | 45 |
| May 2026 | 5 | $129.2M | 96.77 | 5.49% | 146 bp | 35 |
| Apr 2026 | 5 | $334.2M | 96.69 | 5.51% | 169 bp | 39 |
| Mar 2026 | 6 | $251.5M | 97.65 | 5.89% | 216 bp | 45 |
| Feb 2026 | 6 | $127.1M | 98.41 | 5.09% | 157 bp | 33 |
| Jan 2026 | 6 | $351.6M | 98.13 | 5.13% | 151 bp | 38 |
| Dec 2025 | 6 | $258.2M | 97.97 | 5.02% | 151 bp | 46 |
| Nov 2025 | 6 | $119.5M | 97.63 | 5.17% | 161 bp | 36 |
| Oct 2025 | 6 | $319.0M | 97.60 | 5.24% | 169 bp | 32 |
| Sep 2025 | 6 | $198.0M | 97.49 | 5.17% | 160 bp | 39 |
| Aug 2025 | 6 | $121.1M | 97.13 | 5.29% | 153 bp | 40 |
| Jul 2025 | 6 | $308.7M | 96.50 | 5.41% | 152 bp | 33 |
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. 47 added, 32 cut, 10 new holders and 53 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $119.8M | $115.6M | $0 |
| American High Income Trust | 2026-06-30 | $37.6M | $37.1M | $0 |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $37.4M | $36.2M | $527K |
| Income Fund of America | 2026-07-31 | $35.8M | $34.4M | $0 |
| Bond Fund of America | 2026-06-30 | $32.0M | $32.0M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $20.0M | $19.5M | $3.5M |
| Thornburg Strategic Income Fund THORNBURG INVESTMENT TRUST | 2026-06-30 | $18.1M | $17.7M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $17.5M | $17.2M | $8.8M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $16.2M | $15.7M | -$550K |
| Performance Trust Total Return Bond Fund Trust for Professional Managers | 2026-05-31 | $16.2M | $15.3M | $1.5M |
| Guggenheim Total Return Bond Fund Guggenheim Funds Trust | 2026-06-30 | $13.9M | $14.1M | $0 |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $14.4M | $13.7M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $11.0M | $10.5M | $155K |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $10.2M | $9.8M | $0 |
| Baird Core Plus Bond Fund Baird Funds Inc | 2026-06-30 | $10.0M | $9.6M | $0 |
| VANGUARD SHORT-TERM INVESTMENT-GRADE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $9.6M | $9.4M | $0 |
| First Trust Tactical High Yield ETF First Trust Exchange-Traded Fund IV | 2026-07-31 | $9.2M | $8.8M | -$7.5M |
| Fidelity Capital and Income Fund Fidelity Summer Street Trust | 2026-07-31 | $7.9M | $7.3M | $0 |
| Transamerica High Yield Bond TRANSAMERICA FUNDS | 2026-07-31 | $7.2M | $7.2M | $0 |
| Capital Income Builder | 2026-07-31 | $7.0M | $7.0M | $0 |
| AB HIGH INCOME FUND INC | 2026-07-31 | $7.0M | $6.7M | $0 |
| First Trust High Yield Opportunities 2027 Term Fund | 2026-05-29 | $6.4M | $6.2M | $1.3M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $6.3M | $6.0M | $0 |
| PGIM Short Duration Multi-Sector Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $6.3M | $5.9M | $0 |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $5.5M | $5.3M | $1.9M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): Baird Ultra Short Bond Fund ($23.3M), Bridge Builder Core Bond Fund ($11.5M), CrossingBridge Ultra-Short Duration Fund ($8.0M), Thornburg Limited Term Income Fund ($7.6M), Guggenheim Limited Duration Fund ($6.5M), Hartford Dynamic Bond Fund ($4.8M), Touchstone Funds Group Trust-Touchstone Ultra Short Duration Fixed Income Fund ($2.8M), JPMorgan Core Bond Trust ($1.2M), THE HARTFORD BALANCED INCOME FUND ($1.2M), MFS Global Opportunistic Bond Fund ($1.1M).
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 | 5 | $37.4M | $36.2M | 0.13% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 3 | $20.0M | $19.5M | 0.12% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 5 | $17.5M | $17.2M | 0.15% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 3 | $11.0M | $10.5M | 0.14% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 4 | $9.2M | $8.8M | 0.54% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 2 | $4.6M | $4.4M | 0.09% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 3 | $4.1M | $4.0M | 0.11% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $3.9M | $3.9M | 0.05% |
| FTSL First Trust Senior Loan Fund | 2026-07-31 | 2 | $4.1M | $3.9M | 0.17% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 5 | $4.0M | $3.9M | 0.15% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 5 | $3.8M | $3.7M | 0.15% |
| BSJR Invesco BulletShares 2027 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $3.4M | $3.4M | 0.40% |
| IBHG iShares iBonds 2027 Term High Yield and Income ETF | 2026-07-31 | 1 | $2.8M | $2.8M | 0.55% |
| BSJS Invesco BulletShares 2028 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $2.5M | $2.4M | 0.34% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 5 | $2.3M | $2.2M | 0.01% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 2.75: safer than 22% of companies (21th percentile in Consumer Cyclical). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $2.49B |
| Debt barrier (short-term + ½ long-term debt) | $3.11B |
| Equity volatility (1 year) | 46.6% |
| Asset value / asset volatility (solved) | $5.47B / 21.3% |
| 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 = 1.33 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in GPK'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 | 46 | $36.4M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 493 | $3.69B | 9 | $2.2M | 13 | $39.7M | 0 |
| 2026-03-31 | 426 | $2.99B | 10 | $4.1M | 9 | $9.0M | 0 |
| 2025-12-31 | 426 | $5.04B | 6 | $2.2M | 5 | $4.7M | 0 |
| 2025-09-30 | 432 | $6.19B | 3 | $869K | 8 | $10.2M | 0 |
| 2025-06-30 | 435 | $6.80B | 8 | $3.2M | 3 | $312K | 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.