Gladstone Capital Management LLP

CIK

1353394

Location

LONDON, X0

Portfolio Value

Small $995,717,004

Diversification

Diversified

Filing Date

Global Rank

#1,511 / 8,232 ▲ 163

Top Industry

Engineering & Construction 20.1%

3Y Alpha vs SPY

-0.5%

Period ended 2 months ago

Filed May 15, 2026 · 30d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+74.3%

SPY

+76.3%

Annualised alpha

-0.5%

Max drawdown

−18.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

32 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

18.0%

−1.4 pts

Top 5

59.4%

−1.2 pts

Top 10

89.9%

−0.7 pts

HHI

987

Diversified−49

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Industrials	33.6%	$334,697,366	5
Technology	29.4%	$292,357,824	11
Communication Services	18.0%	$179,662,599	1
Financial Services	11.7%	$116,521,649	4
Consumer Defensive	6.7%	$66,900,303	2
Basic Materials	0.4%	$4,263,536	1
Consumer Cyclical	0.1%	$1,178,267	7
Real Estate	0.0%	$135,460	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

6 positions

Ticker	Company	Δ Shares	Shares	Value
TSM	Taiwan Semiconductor Manufacturing Co Ltd	+197,803	215,663	$72,883,310
PWR	Quanta Services, Inc.	+47,296	228,277	$125,328,638
GOOGL	Alphabet Inc.	+28,826	624,783	$179,662,599
MSFT	Microsoft Corp	+19,119	257,826	$95,439,450
GE	General Electric Co	+14,755	16,303	$4,626,302
ICE	Intercontinental Exchange, Inc.	+8,200	8,300	$1,305,424
No positions match the current search.

Trimmed

Positions the filer reduced

12 positions

Ticker	Company	Δ Shares	Shares	Value
APG	APi Group Corp	−335,411	1,846,147	$74,805,876
XYZ	Block, Inc.	−322,421	192,507	$11,585,071
ACGL	Arch Capital Group Ltd.	−268,311	482,222	$46,288,489
ABNB	Airbnb, Inc.	−205,543	3,557	$449,177
SNOW	Snowflake Inc.	−167,494	1,508	$227,436
AVGO	Broadcom Inc.	−147,241	65,825	$20,373,495
CBRE	Cbre Group, Inc.	−77,097	1,000	$135,460
RTX	RTX Corp	−48,502	602,463	$116,215,112
DASH	DoorDash, Inc.	−30,397	1,000	$150,150
PM	Philip Morris International Inc.	−3,368	404,274	$66,842,663
AMZN	Amazon Com Inc	−2,900	100	$20,827
NVDA	Nvidia Corp	−271	729	$127,137
No positions match the current search.

New Positions

Positions the filer opened this quarter

7 positions

Ticker	Company	Shares	Value
V	Visa Inc.	228,010	$68,913,742
GLW	Corning Inc /Ny	356,933	$48,532,180
DOCN	DigitalOcean Holdings, Inc.	496,702	$42,607,097
LHX	L3harris Technologies, Inc. /De/	39,755	$13,721,438
LIN	Linde PLC	8,600	$4,263,536
LITE	Lumentum Holdings Inc.	100	$70,276
MDLZ	Mondelez International, Inc.	1,000	$57,640
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
META	Meta Platforms, Inc.	58,974	$38,928,147
TEAM	Atlassian Corp	1,000	$162,140
BABA	Alibaba Group Holding Ltd	900	$131,922
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

32 positions · $995,717,004 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Financial Services Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Added	624,783	+28,826	$179,662,599	−3.7%	18.04%
PWR	Quanta Services, Inc. Industrials	Added	228,277	+47,296	$125,328,638	+64.1%	12.59%
RTX	RTX Corp Industrials	Reduced	602,463	-48,502	$116,215,112	−2.7%	11.67%
MSFT	Microsoft Corp Technology	Added	257,826	+19,119	$95,439,450	−17.3%	9.58%
APG	APi Group Corp Industrials	Reduced	1,846,147	-335,411	$74,805,876	−10.4%	7.51%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	215,663	+197,803	$72,883,310	+1242.9%	7.32%
V	Visa Inc. Financial Services	NEW	228,010	NEW	$68,913,742	NEW	6.92%
PM	Philip Morris International Inc. Consumer Defensive	Reduced	404,274	-3,368	$66,842,663	+2.2%	6.71%
GLW	Corning Inc /Ny Technology	NEW	356,933	NEW	$48,532,180	NEW	4.87%
ACGL	Arch Capital Group Ltd. Financial Services	Reduced	482,222	-268,311	$46,288,489	−35.7%	4.65%
DOCN	DigitalOcean Holdings, Inc. Technology	NEW	496,702	NEW	$42,607,097	NEW	4.28%
AVGO	Broadcom Inc. Technology	Reduced	65,825	-147,241	$20,373,495	−72.4%	2.05%
LHX	L3harris Technologies, Inc. /De/ Industrials	NEW	39,755	NEW	$13,721,438	NEW	1.38%
XYZ	Block, Inc. Technology	Reduced	192,507	-322,421	$11,585,071	−65.4%	1.16%
GE	General Electric Co Industrials	Added	16,303	+14,755	$4,626,302	+870.2%	0.46%
LIN	Linde PLC Basic Materials	NEW	8,600	NEW	$4,263,536	NEW	0.43%
ICE	Intercontinental Exchange, Inc. Financial Services	Added	8,300	+8,200	$1,305,424	+7960.2%	0.13%
LULU	lululemon athletica inc. Consumer Cyclical	Held	3,300	0	$505,230	−26.3%	0.05%
ABNB	Airbnb, Inc. Consumer Cyclical	Reduced	3,557	-205,543	$449,177	−98.4%	0.05%
FIG	Figma, Inc. Technology	Held	17,081	0	$361,092	−43.4%	0.04%
SNOW	Snowflake Inc. Technology	Reduced	1,508	-167,494	$227,436	−99.4%	0.02%
ARM	Arm Holdings PLC /Uk Technology	Held	1,000	0	$151,280	+38.4%	0.02%
DASH	DoorDash, Inc. Consumer Cyclical	Reduced	1,000	-30,397	$150,150	−97.9%	0.02%
CBRE	Cbre Group, Inc. Real Estate	Reduced	1,000	-77,097	$135,460	−98.9%	0.01%
NVDA	Nvidia Corp Technology	Reduced	729	-271	$127,137	−31.8%	0.01%
LITE	Lumentum Holdings Inc. Technology	NEW	100	NEW	$70,276	NEW	0.01%
MDLZ	Mondelez International, Inc. Consumer Defensive	NEW	1,000	NEW	$57,640	NEW	0.01%
TSLA	Tesla, Inc. Consumer Cyclical	Held	100	0	$37,175	−17.3%	0.00%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	100	-2,900	$20,827	−97.0%	0.00%
WING	Wingstop Inc. Consumer Cyclical	Held	100	0	$15,497	−35.0%	0.00%
KEY	Keycorp /New/ Financial Services	Held	698	0	$13,994	−2.9%	0.00%
NKE	NIKE, Inc. Consumer Cyclical	Held	4	0	$211	−16.9%	0.00%