BlackRock TCP Capital Corp. bonds TCPC
Who owns BlackRock TCP Capital Corp.'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. TCPC 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 |
|---|---|---|---|---|---|---|---|---|---|
| 09259EAC2 | 6.95% fixed | 2029-05-30 | USD | 98.89 | 7.39% | 313 bp | 12 | $82.9M | 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 | 1 | $82.9M | 98.89 | 7.39% | 313 bp | 12 |
| Jun 2026 | 1 | $20.8M | 99.36 | 7.19% | 305 bp | 10 |
| May 2026 | 1 | $6.2M | 99.41 | 7.17% | 313 bp | 4 |
| Apr 2026 | 1 | $67.9M | 98.91 | 7.35% | 352 bp | 14 |
| Mar 2026 | 1 | $18.5M | 98.20 | 7.59% | 385 bp | 10 |
| Feb 2026 | 1 | $8.2M | 100.89 | 6.64% | 310 bp | 3 |
| Jan 2026 | 2 | $43.0M | 99.50 | 7.26% | 363 bp | 14 |
| Dec 2025 | 2 | $24.4M | 100.08 | 6.79% | 321 bp | 11 |
| Nov 2025 | 2 | $8.1M | 100.50 | 6.40% | 282 bp | 4 |
| Oct 2025 | 2 | $38.5M | 100.32 | 6.45% | 289 bp | 11 |
| Sep 2025 | 2 | $24.6M | 101.03 | 5.97% | 239 bp | 10 |
| Aug 2025 | 2 | $7.1M | 100.84 | 6.02% | 230 bp | 4 |
| Jul 2025 | 2 | $20.2M | 100.86 | 5.98% | 210 bp | 6 |
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. 6 added, 5 cut, 1 new holders and 1 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 | $46.5M | $46.0M | $16.1M |
| VanEck Fallen Angel High Yield Bond ETF VanEck ETF Trust | 2026-07-31 | $16.1M | $15.9M | $380K |
| BBH Limited Duration Fund BBH Trust | 2026-07-31 | $16.0M | $15.8M | $0 |
| RiverNorth/DoubleLine Strategic Income Fund RIVERNORTH FUNDS | 2026-06-30 | $10.0M | $9.9M | $0 |
| Invesco Bloomberg Enhanced Fallen Angels ETF Invesco Exchange-Traded Fund Trust II | 2026-05-31 | $5.4M | $5.4M | -$2.0M |
| RiverNorth Opportunities Fund Inc. RIVERNORTH OPPORTUNITIES FUND INC. | 2026-06-30 | $5.0M | $5.0M | $761K |
| State Street(R) SPDR(R) Portfolio High Yield Bond ETF SPDR SERIES TRUST | 2026-06-30 | $2.9M | $2.9M | $1.8M |
| BBH Income Fund BBH Trust | 2026-07-31 | $2.2M | $2.1M | $0 |
| First Trust Alternative Opportunities Fund | 2026-06-30 | $2.0M | $2.0M | $0 |
| Schwab High Yield Bond ETF SCHWAB STRATEGIC TRUST | 2026-05-31 | $607K | $603K | $0 |
| PACE Strategic Fixed Income Investments PACE SELECT ADVISORS TRUST | 2026-07-31 | $565K | $559K | $0 |
| Nuveen High Yield Corporate Bond ETF NuShares ETF Trust | 2026-07-31 | $537K | $531K | $0 |
| Invesco High Yield Systematic Bond ETF Invesco Actively Managed Exchange-Traded Fund Trust | 2026-07-31 | $500K | $495K | $0 |
| PACE Intermediate Fixed Income Investments PACE SELECT ADVISORS TRUST | 2026-07-31 | $440K | $435K | $0 |
| RiverNorth/Oaktree High Income Fund RIVERNORTH FUNDS | 2026-06-30 | $387K | $384K | $0 |
| Hilton BDC Corporate Bond ETF Tidal Trust II | 2026-07-31 | $385K | $381K | -$11K |
| State Street Income Fund STATE STREET INSTITUTIONAL INVESTMENT TRUST | 2026-06-30 | $361K | $360K | -$503K |
| Opportunistic Credit Fund RUSSELL INVESTMENT CO | 2026-07-31 | $300K | $297K | $0 |
| BondBloxx BB Rated USD High Yield Corporate Bond ETF BondBloxx ETF Trust | 2026-07-31 | $175K | $173K | -$5K |
| Six Circles Credit Opportunities Fund SIX CIRCLES TRUST | 2026-06-30 | $141K | $140K | $26K |
| JPMorgan BetaBuilders USD High Yield Corporate Bond ETF J.P. Morgan Exchange-Traded Fund Trust | 2026-05-31 | $138K | $137K | -$5K |
| BNY Mellon High Yield ETF BNY Mellon ETF Trust | 2026-07-31 | $109K | $108K | $30K |
| ELFUN INCOME FUND | 2026-06-30 | $99K | $99K | $0 |
| ELFUN DIVERSIFIED FUND | 2026-06-30 | $34K | $34K | $0 |
| State Street(R) My2029 High Yield Corporate Bond ETF SSGA Active Trust | 2026-05-31 | $15K | $15K | new |
Largest exits in the latest quarter (fund held the bonds in its previous report, none now): FlexShares High Yield Value - Scored Bond Index Fund ($1.2M).
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 |
|---|---|---|---|---|---|
| ANGL VanEck Fallen Angel High Yield Bond ETF | 2026-07-31 | 1 | $16.1M | $15.9M | 0.52% |
| IFLN Invesco Bloomberg Enhanced Fallen Angels ETF | 2026-05-31 | 1 | $5.4M | $5.4M | 1.69% |
| SPHY State Street(R) SPDR(R) Portfolio High Yield Bond ETF | 2026-06-30 | 1 | $2.9M | $2.9M | 0.03% |
| SCYB Schwab High Yield Bond ETF | 2026-05-31 | 1 | $607K | $603K | 0.02% |
| GTOQ Invesco High Yield Systematic Bond ETF | 2026-07-31 | 1 | $500K | $495K | 0.27% |
| XBB BondBloxx BB Rated USD High Yield Corporate Bond ETF | 2026-07-31 | 1 | $175K | $173K | 0.03% |
| BBHY JPMorgan BetaBuilders USD High Yield Corporate Bond ETF | 2026-05-31 | 1 | $138K | $137K | 0.02% |
| BKHY BNY Mellon High Yield ETF | 2026-07-31 | 1 | $109K | $108K | 0.07% |
| MYHC State Street(R) My2029 High Yield Corporate Bond ETF | 2026-05-31 | 1 | $15K | $15K | 0.30% |
| XHYF BondBloxx USD High Yield Bond Financial & REIT Sector ETF | 2026-04-30 | 1 | $15K | $15K | 0.14% |
Default risk, three ways
Stock market: distance-to-default
Not computed: financial company (banks, insurers, BDCs and REITs carry leverage as their business, which the model misreads).
Bond market: priced-in odds
A 313 bp spread prices in about 5.2% 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
Not available.
The stock side: 13F filings
What institutions report holding in TCPC'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 | 10 | $578K | 0 | — | 0 | — | 0 |
| 2026-06-30 | 111 | $71.3M | 4 | $253K | 1 | $40K | 0 |
| 2026-03-31 | 114 | $63.4M | 5 | $335K | 2 | $15K | 0 |
| 2025-12-31 | 125 | $88.9M | 3 | $92K | 2 | $114K | 0 |
| 2025-09-30 | 139 | $115.9M | 2 | $273K | 2 | $402K | 0 |
| 2025-06-30 | 133 | $125.8M | 2 | $439K | 4 | $567K | 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.