Portman Ridge Finance Corporation bonds PTMN
Who owns Portman Ridge Finance 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. PTMN 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 |
|---|---|---|---|---|---|---|---|---|---|
| 73688FAD4 | 7.5% fixed | 2028-10-15 | USD | 100.68 | 7.15% | 292 bp | 1 | $10.1M | Jul 2026 |
| 73688FAF9 | 7.5% fixed | 2029-09-24 | USD | 100.69 | 7.25% | 298 bp | 2 | $48.3M | 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 | $58.4M | 100.69 | 7.20% | 295 bp | 2 |
| Apr 2026 | 2 | $60.3M | 101.52 | 6.82% | 299 bp | 2 |
| Jan 2026 | 1 | $10.0M | 100.23 | 7.40% | 381 bp | 1 |
| Dec 2025 | 1 | $2.8M | 100.77 | -0.16% | -384 bp | 1 |
| Oct 2025 | 1 | $39.5M | 100.00 | — | — | 2 |
| Jul 2025 | 1 | $38.2M | 99.11 | — | — | 1 |
| Apr 2025 | 1 | $38.5M | 97.48 | — | — | 2 |
| Jan 2025 | 1 | $38.6M | 97.73 | 6.80% | 260 bp | 2 |
| Oct 2024 | 1 | $32.3M | 96.37 | 7.48% | 340 bp | 1 |
| Jul 2024 | 1 | $32.2M | 95.98 | 7.36% | 276 bp | 1 |
| Apr 2024 | 1 | $17.4M | 93.89 | 8.25% | 338 bp | 1 |
| Jan 2024 | 1 | $17.1M | 97.88 | 5.89% | 162 bp | 1 |
| Oct 2023 | 1 | $13.2M | 91.07 | 8.94% | 396 bp | 1 |
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. 0 added, 1 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 | $57.5M | $57.9M | -$2.0M |
| Holbrook Total Return Fund Two Roads Shared Trust | 2026-07-31 | $500K | $503K | $0 |
Default risk, three ways
Stock market: distance-to-default
No stock-market measure for this issuer.
Bond market: priced-in odds
A 295 bp spread prices in about 4.9% 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 PTMN'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 | 7 | $1.6M | 0 | — | 0 | — | 0 |
| 2026-06-30 | 43 | $11.5M | 2 | $207K | 2 | $18K | 0 |
| 2026-03-31 | 53 | $12.5M | 2 | $111K | 2 | $198K | 0 |
| 2025-12-31 | 49 | $26.7M | 2 | $135K | 2 | $299K | 0 |
| 2025-09-30 | 40 | $23.6M | 1 | $3K | 1 | $14K | 0 |
| 2025-06-30 | 41 | $18.1M | 3 | $314K | 2 | $15K | 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.