Granite Construction Incorporated bonds GVA
Who owns Granite Construction Incorporated'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. GVA 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 |
|---|---|---|---|---|---|---|---|---|---|
| 387328AD9 convertible | 3.75% fixed | 2028-05-15 | USD | 297.78 | — | — | 3 | $36.1M | Jul 2026 |
| 387328AF4 convertible | 3.25% fixed | 2030-06-15 | USD | 164.00 | — | — | 16 | $36.6M | Jul 2026 |
| 387328AG2 | 6.375% fixed | 2034-06-15 | USD | 99.85 | 6.40% | 190 bp | 60 | $61.4M | 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 | 3 | $134.1M | 164.00 | 6.40% | 190 bp | 60 |
| Jun 2026 | 3 | $150.5M | 209.46 | 6.08% | 171 bp | 72 |
| May 2026 | 3 | $71.0M | 184.29 | 6.04% | 167 bp | 39 |
| Apr 2026 | 2 | $82.5M | 241.20 | — | — | 11 |
| Mar 2026 | 2 | $85.5M | 213.71 | — | — | 12 |
| Feb 2026 | 2 | $30.3M | 238.16 | — | — | 5 |
| Jan 2026 | 2 | $68.7M | 216.09 | — | — | 10 |
| Dec 2025 | 2 | $73.3M | 206.94 | — | — | 12 |
| Nov 2025 | 2 | $18.8M | 194.67 | — | — | 4 |
| Oct 2025 | 2 | $96.7M | 186.36 | — | — | 11 |
| Sep 2025 | 2 | $64.6M | 197.26 | — | — | 12 |
| Aug 2025 | 2 | $18.8M | 194.29 | — | — | 4 |
| Jul 2025 | 2 | $78.4M | 173.60 | — | — | 10 |
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. 17 added, 12 cut, 169 new holders and 6 exits in the latest quarter.
| Fund series | Report | Face value | Value | Change in face value |
|---|---|---|---|---|
| ABSOLUTE CONVERTIBLE ARBITRAGE FUND Unified Series Trust | 2026-06-30 | $15.0M | $31.4M | $0 |
| iShares Convertible Bond ETF iShares Trust | 2026-07-31 | $13.5M | $28.8M | $2.5M |
| State Street(R) SPDR(R) Bloomberg Convertible Securities ETF SPDR SERIES TRUST | 2026-06-30 | $9.6M | $25.5M | $335K |
| Calamos Market Neutral Income Fund CALAMOS INVESTMENT TRUST/IL | 2026-07-31 | $7.0M | $20.9M | $0 |
| Virtus Income & Growth Fund Virtus Investment Trust | 2026-06-30 | $8.6M | $16.9M | -$675K |
| Virtus Convertible Fund Virtus Strategy Trust | 2026-06-30 | $7.5M | $15.6M | -$1.5M |
| Fidelity Convertible Securities Fund Fidelity Financial Trust | 2026-05-31 | $6.3M | $14.4M | $0 |
| HIGH INCOME OPPORTUNITIES PORTFOLIO High Income Opportunities Portfolio | 2026-07-31 | $12.8M | $12.8M | new |
| Lord Abbett Convertible Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $5.4M | $10.0M | $1.3M |
| PGIM High Yield Fund Prudential Investment Portfolios, Inc. 15 | 2026-05-29 | $9.2M | $9.4M | new |
| Lord Abbett Short Duration High Yield Fund LORD ABBETT TRUST I | 2026-07-31 | $5.6M | $9.2M | $2.0M |
| iShares Broad USD High Yield Corporate Bond ETF iShares Trust | 2026-07-31 | $9.1M | $9.0M | new |
| NYLIM MacKay High Yield Corporate Bond Fund NYLIM FUNDS | 2026-07-31 | $8.6M | $8.6M | new |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.7M | $5.8M | new |
| Lord Abbett High Yield Fund LORD ABBETT INVESTMENT TRUST | 2026-05-31 | $5.4M | $5.6M | new |
| State Street(R) SPDR(R) Bloomberg High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $5.3M | $5.4M | new |
| Fidelity Strategic Dividend and Income Fund Fidelity Salem Street Trust | 2026-05-31 | $2.3M | $5.3M | -$380K |
| Invesco Convertible Securities Fund AIM Growth Series (Invesco Growth Series) | 2026-06-30 | $2.5M | $5.2M | -$500K |
| Artisan High Income Fund Artisan Partners Funds Inc. | 2026-06-30 | $5.0M | $5.1M | new |
| First Trust Smith Unconstrained Bond ETF First Trust Exchange-Traded Fund VIII | 2026-05-31 | $4.9M | $5.0M | new |
| VANGUARD HIGH-YIELD CORPORATE FUND VANGUARD FIXED INCOME SECURITIES FUNDS | 2026-07-31 | $4.0M | $4.0M | new |
| PIMCO High Yield Fund PIMCO FUNDS | 2026-06-30 | $3.8M | $3.8M | new |
| American Beacon SSI Alternative Income Fund AMERICAN BEACON FUNDS | 2026-06-30 | $1.7M | $3.6M | new |
| WESTWOOD ALTERNATIVE INCOME FUND Ultimus Managers Trust | 2026-07-31 | $2.0M | $3.3M | $0 |
| Virtus Convertible & Income Fund | 2026-07-31 | $2.4M | $3.3M | -$40K |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): JNL Multi-Manager Alternative Fund ($1.0M), PACE Alternative Strategies Investments ($399K), Franklin Alternative Strategies Fund ($361K), Opportunistic Fixed Income Fund ($13K), Opportunistic Fixed Income Trust ($12K), Global Multi-Strategy Fund ($8K).
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 |
|---|---|---|---|---|---|
| ICVT iShares Convertible Bond ETF | 2026-07-31 | 2 | $13.5M | $28.8M | 0.40% |
| CWB State Street(R) SPDR(R) Bloomberg Convertible Securities ETF | 2026-06-30 | 2 | $9.6M | $25.5M | 0.41% |
| USHY iShares Broad USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $9.1M | $9.0M | 0.03% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $5.7M | $5.8M | 0.05% |
| JNK State Street(R) SPDR(R) Bloomberg High Yield Bond ETF | 2026-06-30 | 1 | $5.3M | $5.4M | 0.07% |
| UCON First Trust Smith Unconstrained Bond ETF | 2026-05-31 | 1 | $4.9M | $5.0M | 0.15% |
| BHYB Xtrackers USD High Yield BB-B ex Financials ETF | 2026-05-31 | 1 | $1.2M | $1.2M | 0.05% |
| JPHY JPMorgan Active High Yield ETF | 2026-05-31 | 1 | $1.1M | $1.1M | 0.05% |
| FBND Fidelity Total Bond ETF | 2026-05-31 | 1 | $890K | $908K | 0.00% |
| IUSB iShares Core Universal USD Bond ETF | 2026-07-31 | 1 | $690K | $690K | 0.00% |
| PHYL PGIM Active High Yield Bond ETF | 2026-05-29 | 1 | $535K | $546K | 0.04% |
| JPIE JPMorgan Income ETF | 2026-05-31 | 1 | $531K | $542K | 0.01% |
| JCPB JPMorgan Core Plus Bond ETF | 2026-05-31 | 1 | $440K | $449K | 0.00% |
| FCVT First Trust SSI Strategic Convertible Securities ETF | 2026-07-31 | 1 | $260K | $429K | 0.43% |
| HYDB iShares High Yield Systematic Bond ETF | 2026-05-31 | 1 | $395K | $403K | 0.02% |
Default risk, three ways
Stock market: distance-to-default
Distance-to-default 6.51: safer than 62% of companies (63th percentile in Industrials). Market-implied, prices to 2026-10-16, balance sheet 2026-06-30.
| Equity value | $4.90B |
| Debt barrier (short-term + ½ long-term debt) | $969.8M |
| Equity volatility (1 year) | 32.8% |
| Asset value / asset volatility (solved) | $5.83B / 27.6% |
| Risk-free rate (1-year Treasury) | 4.28% |
Bond market: priced-in odds
A 190 bp spread prices in about 3.2% 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'' = 0.55 (latest balance sheet). A fundamentals cross-check; see methods for the variant used.
The stock side: 13F filings
What institutions report holding in GVA'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 | 31 | $64.0M | 0 | — | 0 | — | 1 |
| 2026-06-30 | 439 | $7.63B | 7 | $6.9M | 9 | $66.1M | 37 |
| 2026-03-31 | 394 | $5.41B | 6 | $9.9M | 6 | $43.8M | 39 |
| 2025-12-31 | 387 | $5.90B | 4 | $5.5M | 5 | $42.3M | 40 |
| 2025-09-30 | 382 | $5.74B | 5 | $35.5M | 8 | $57.6M | 40 |
| 2025-06-30 | 367 | $4.75B | 4 | $24.5M | 8 | $39.3M | 42 |
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.