The Gap, Inc. bonds GPS
Who owns The Gap, 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. GPS 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 |
|---|---|---|---|---|---|---|---|---|---|
| 364760AP3 | 3.625% fixed | 2029-10-01 | USD | 94.08 | 5.69% | 143 bp | 39 | $58.8M | Jul 2026 |
| 364760AQ1 | 3.875% fixed | 2031-10-01 | USD | 90.66 | 6.00% | 166 bp | 26 | $42.4M | 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 | $101.2M | 92.37 | 5.85% | 154 bp | 39 |
| Jun 2026 | 2 | $218.0M | 92.70 | 5.72% | 153 bp | 56 |
| May 2026 | 2 | $185.6M | 92.50 | 5.76% | 164 bp | 40 |
| Apr 2026 | 2 | $109.1M | 92.92 | 5.59% | 168 bp | 42 |
| Mar 2026 | 2 | $206.5M | 92.04 | 5.80% | 198 bp | 49 |
| Feb 2026 | 2 | $169.0M | 94.09 | 5.23% | 158 bp | 39 |
| Jan 2026 | 2 | $116.7M | 93.92 | 5.24% | 148 bp | 43 |
| Dec 2025 | 2 | $198.6M | 93.65 | 5.29% | 160 bp | 56 |
| Nov 2025 | 2 | $158.5M | 93.97 | 5.19% | 151 bp | 38 |
| Oct 2025 | 2 | $124.0M | 92.68 | 5.47% | 181 bp | 41 |
| Sep 2025 | 2 | $180.9M | 92.34 | 5.54% | 186 bp | 58 |
| Aug 2025 | 2 | $151.7M | 92.00 | 5.57% | 175 bp | 37 |
| Jul 2025 | 2 | $128.7M | 90.65 | 5.88% | 190 bp | 39 |
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, 29 cut, 9 new holders and 7 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| Artisan High Income Fund Artisan Partners Funds Inc. | 2026-06-30 | $65.9M | $61.3M | $0 |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $53.8M | $49.3M | $3.2M |
| BrandywineGLOBAL - HIGH YIELD FUND Legg Mason Partners Investment Trust | 2026-06-30 | $43.8M | $39.9M | $1.6M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $30.6M | $28.3M | $3.1M |
| BrandywineGLOBAL - CORPORATE CREDIT FUND Legg Mason Partners Investment Trust | 2026-06-30 | $30.8M | $28.1M | $3.7M |
| PGIM Short Duration High Yield Income Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $23.8M | $22.2M | $2.8M |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $19.2M | $17.7M | -$405K |
| iShares High Yield Systematic Bond ETF iShares Trust | 2026-05-31 | $13.7M | $12.7M | -$1.5M |
| First Trust Smith Unconstrained Bond ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $11.9M | $11.2M | $3.8M |
| Federated Hermes Institutional High Yield Bond Fund Federated Hermes Institutional Trust | 2026-07-31 | $11.7M | $10.8M | $0 |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $10.3M | $9.7M | $0 |
| PGIM Total Return Bond Fund Prudential Investment Portfolios, Inc. 17 | 2026-07-31 | $9.3M | $8.5M | $0 |
| Allspring Short-Term High Income Fund ALLSPRING FUNDS TRUST | 2026-05-31 | $8.8M | $8.2M | $0 |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $8.1M | $7.5M | -$393K |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $8.1M | $7.4M | -$3.4M |
| First Trust Smith Opportunistic Fixed Income ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $7.0M | $6.6M | new |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $6.9M | $6.5M | -$25K |
| RBC BlueBay High Yield Bond Fund RBC Funds Trust | 2026-06-30 | $6.5M | $6.1M | new |
| JPMorgan Core Plus Bond Fund JPMorgan Trust II | 2026-05-31 | $6.1M | $5.7M | $120K |
| BlackRock Systematic Multi-Strategy Fund BlackRock Funds IV | 2026-06-30 | $6.0M | $5.5M | -$440K |
| AB Short Duration High Yield ETF AB Active ETFs, Inc. | 2026-05-31 | $5.8M | $5.5M | $666K |
| ALPS | Smith Total Return Bond Fund FINANCIAL INVESTORS TRUST | 2026-07-31 | $5.5M | $5.2M | $3.0M |
| American High Income Trust | 2026-06-30 | $5.4M | $5.0M | -$50K |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $5.3M | $5.0M | $0 |
| State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $4.6M | $4.3M | -$2.0M |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): High Yield Fund ($16.3M), Harbor Ares Systematic High Yield ETF ($1.3M), THRIVENT MODERATE ALLOCATION PORTFOLIO ($228K), BlackRock Global Allocation Fund, Inc. ($100K), Harbor Ares Systematic Multi-Sector Income ETF ($100K), State Street(R) My2031 High Yield Corporate Bond ETF ($40K), State Street(R) My2029 High Yield Corporate Bond ETF ($35K).
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 | $30.6M | $28.3M | 0.10% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 2 | $19.2M | $17.7M | 0.11% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 2 | $13.7M | $12.7M | 0.78% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $11.9M | $11.2M | 0.34% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 2 | $8.1M | $7.5M | 0.07% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 2 | $8.1M | $7.4M | 0.10% |
| FIXD First Trust Smith Opportunistic Fixed Income ETF | 2026-05-31 | 1 | $7.0M | $6.6M | 0.20% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 1 | $6.9M | $6.5M | 0.09% |
| SYFI AB Short Duration High Yield ETF | 2026-05-31 | 1 | $5.8M | $5.5M | 0.61% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 1 | $4.6M | $4.3M | 0.09% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 2 | $4.6M | $4.3M | 0.12% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 2 | $4.5M | $4.1M | 0.32% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 1 | $2.9M | $2.7M | 0.16% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 2 | $2.9M | $2.7M | 0.11% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 2 | $2.6M | $2.4M | 0.09% |
Default risk, three ways
Stock market: distance-to-default
No stock-market measure for this issuer.
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
Not available.
The stock side: 13F filings
What institutions report holding in GPS'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 | 45 | $23.1M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 474 | $3.99B | 20 | $127.9M | 23 | $113.4M | 0 |
| 2026-03-31 | 475 | $4.62B | 19 | $148.7M | 23 | $103.2M | 0 |
| 2025-12-31 | 519 | $5.60B | 25 | $227.2M | 28 | $316.1M | 1 |
| 2025-09-30 | 457 | $4.71B | 23 | $204.3M | 27 | $131.6M | 1 |
| 2025-06-30 | 454 | $4.68B | 25 | $288.0M | 25 | $205.8M | 1 |
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.