Gray Media, Inc. bonds GTN
Who owns Gray Media, 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. GTN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 389375AM8 | 10.5% fixed | 2029-07-15 | USD | 105.48 | 8.36% | 411 bp | 40 | $147.4M | Jul 2026 |
| 389375AL0 | 4.75% fixed | 2030-10-15 | USD | 77.35 | 11.72% | 741 bp | 39 | $76.4M | Jul 2026 |
| 389286AA3 | 5.375% fixed | 2031-11-15 | USD | 74.34 | 12.07% | 772 bp | 43 | $91.0M | Jul 2026 |
| 389375AN6 | 9.625% fixed | 2032-07-15 | USD | 101.11 | 9.38% | 498 bp | 54 | $140.5M | Jul 2026 |
| 389375AP1 | 7.25% fixed | 2033-08-15 | USD | 98.90 | 7.45% | 299 bp | 55 | $52.9M | 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 |
|---|---|---|---|---|---|---|
| Aug 2026 partial: filings still arriving | 2 | $46K | 101.32 | 8.14% | 366 bp | 1 |
| Jul 2026 | 5 | $508.2M | 98.90 | 9.38% | 498 bp | 55 |
| Jun 2026 | 5 | $950.6M | 96.57 | 10.40% | 613 bp | 130 |
| May 2026 | 5 | $442.8M | 98.58 | 9.94% | 570 bp | 51 |
| Apr 2026 | 5 | $549.5M | 101.70 | 9.25% | 520 bp | 60 |
| Mar 2026 | 5 | $1.03B | 100.06 | 9.61% | 563 bp | 135 |
| Feb 2026 | 5 | $459.1M | 103.27 | 8.80% | 498 bp | 52 |
| Jan 2026 | 5 | $579.1M | 102.38 | 8.97% | 504 bp | 71 |
| Dec 2025 | 6 | $1.11B | 101.34 | 8.84% | 498 bp | 146 |
| Nov 2025 | 6 | $456.5M | 100.11 | 8.89% | 507 bp | 52 |
| Oct 2025 | 5 | $530.6M | 97.94 | 9.51% | 571 bp | 69 |
| Sep 2025 | 5 | $1.06B | 99.12 | 9.18% | 534 bp | 124 |
| Aug 2025 | 6 | $449.2M | 99.13 | 9.54% | 555 bp | 51 |
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. 102 added, 95 cut, 19 new holders and 24 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| American High Income Trust | 2026-06-30 | $236.5M | $215.3M | $0 |
| Income Fund of America | 2026-07-31 | $172.3M | $157.3M | -$36.1M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $99.3M | $91.8M | $7.0M |
| BlackRock High Yield Portfolio BlackRock Funds V | 2026-06-30 | $77.3M | $75.3M | -$4.5M |
| American Funds Multi-Sector Income Fund | 2026-06-30 | $70.8M | $64.5M | $0 |
| iShares iBoxx $ High Yield Corporate Bond ETF iShares Trust | 2026-05-31 | $63.1M | $56.9M | -$8.3M |
| JPMorgan High Yield Fund JPMorgan Trust II | 2026-05-31 | $61.6M | $55.2M | $2.7M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $55.4M | $47.3M | $17.4M |
| LORD ABBETT BOND DEBENTURE FUND INC | 2026-06-30 | $53.6M | $40.3M | -$32.5M |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $31.8M | $30.9M | -$3.1M |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $34.2M | $30.1M | $2.9M |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $30.9M | $29.4M | $5.8M |
| JPMorgan Income Fund JPMorgan Trust I | 2026-05-31 | $32.6M | $29.4M | $1.2M |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $27.7M | $25.2M | -$5.1M |
| Lord Abbett Credit Opportunities Fund | 2026-06-30 | $37.3M | $25.1M | $5.7M |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $26.3M | $24.0M | -$1.3M |
| T. Rowe Price High Yield Fund, Inc. T. ROWE PRICE HIGH YIELD FUND, INC. | 2026-05-31 | $26.2M | $23.1M | -$890K |
| American Funds Strategic Bond Fund | 2026-06-30 | $22.7M | $22.5M | $0 |
| Bond Fund John Hancock Sovereign Bond Fund | 2026-05-31 | $19.4M | $20.6M | $0 |
| Capital Group U.S. Multi-Sector Income ETF Capital Group Fixed Income ETF Trust | 2026-06-30 | $21.2M | $20.4M | $5.8M |
| JPMorgan Active High Yield ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $22.2M | $20.4M | $2.1M |
| Intrepid Income Fund Intrepid Capital Management Funds Trust | 2026-06-30 | $17.2M | $18.2M | $8.0M |
| JPMorgan Income Builder Fund JPMorgan Trust I | 2026-07-31 | $16.9M | $16.2M | $147K |
| Bond Fund of America | 2026-06-30 | $18.0M | $15.3M | $0 |
| iShares 0-5 Year High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $16.3M | $15.3M | -$490K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): T. Rowe Price Dynamic Credit Fund ($13.0M), VANGUARD HIGH-YIELD CORPORATE FUND ($12.4M), Lord Abbett Core Plus Bond Fund ($4.0M), Western Asset Diversified Income Fund ($2.5M), THE HARTFORD BALANCED INCOME FUND ($1.9M), Balanced Fund ($1.9M), DWS High Income Fund ($985K), Penn Series High Yield Bond Fund ($900K), MFS MULTIMARKET INCOME TRUST ($849K), MML Barings High Yield Fund ($669K).
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 | $99.3M | $91.8M | 0.32% |
| HYG iShares iBoxx $ High Yield Corporate Bond ETF | 2026-05-31 | 5 | $63.1M | $56.9M | 0.35% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 5 | $34.2M | $30.1M | 0.27% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 4 | $26.3M | $24.0M | 0.33% |
| CGMS Capital Group U.S. Multi-Sector Income ETF | 2026-06-30 | 5 | $21.2M | $20.4M | 0.39% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 4 | $22.2M | $20.4M | 0.92% |
| SHYG iShares 0-5 Year High Yield Corporate Bond ETF | 2026-07-31 | 2 | $16.3M | $15.3M | 0.20% |
| HYLB Xtrackers USD High Yield Corporate Bond ETF | 2026-05-29 | 5 | $15.3M | $13.8M | 0.40% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 4 | $13.7M | $12.0M | 0.13% |
| CGCP Capital Group Core Plus Income ETF | 2026-06-30 | 4 | $11.9M | $11.7M | 0.14% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 5 | $8.6M | $7.8M | 0.31% |
| SJNK State Street(R) SPDR Bloomberg Short Term High Yield Bond ETF | 2026-06-30 | 3 | $9.0M | $7.1M | 0.15% |
| HYS PIMCO 0-5 Year High Yield Corporate Bond Index Exchange-Traded Fund | 2026-06-30 | 4 | $7.8M | $7.0M | 0.42% |
| HYLS First Trust Tactical High Yield ETF | 2026-07-31 | 1 | $7.3M | $5.6M | 0.35% |
| XCCC BondBloxx CCC Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 3 | $6.7M | $5.6M | 2.11% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 1.60: safer than 11% of companies (14th percentile in Communication Services). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $465.0M |
| Debt barrier (short-term + ½ long-term debt) | $2.92B |
| Equity volatility (1 year) | 61.6% |
| Asset value / asset volatility (solved) | $3.25B / 9.2% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 498 bp spread prices in about 8.3% 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'' = 0.84 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in GTN'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 | $813K | 0 | — | 0 | — | 0 |
| 2026-06-30 | 170 | $297.1M | 5 | $1.3M | 8 | $1.1M | 0 |
| 2026-03-31 | 186 | $312.3M | 4 | $1.4M | 8 | $1.1M | 0 |
| 2025-12-31 | 188 | $383.6M | 4 | $1.2M | 5 | $513K | 1 |
| 2025-09-30 | 200 | $451.6M | 8 | $3.0M | 10 | $9.0M | 1 |
| 2025-06-30 | 205 | $323.7M | 7 | $593K | 8 | $7.3M | 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.