Gladstone Capital Management LLP

Registered adviser

CIK

1353394

Location

LONDON, X0

Portfolio Value

Mid $1,010,783,104

Diversification

Diversified

Filing Date

Global Rank

#2,510 / 8,819 ▼ 218

Top Industry

Internet Content & Information 17.8%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 167646

Roster of Oct 1, 2026

Regulatory AUM

$1,552,188,628

Main clients

Pooled investment vehicles (72% of AUM)

Private funds

1 fund · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$1,118,666,090 gross assets

LEI

213800B4PLJI84A5MF35

Private funds on Schedule D 7.B.(1)

As filed May 31, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$1,585,867,135 gross assets in 1 fund Hedge funds $1,585,867,135 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Oct 2026	$1,552,188,628	Pooled investment vehicles (72%)
Mar 2025 to Feb 2026	$1,868,076,322	Pooled investment vehicles (78%)
Jun 2024 to Feb 2025	$1,790,237,100	Pooled investment vehicles (78%)
May 2023 to May 2024	$1,937,216,220	Pooled investment vehicles (82%)
Mar 2023 to Apr 2023	$1,937,216,220	Pooled investment vehicles (82%)
Mar 2022 to Feb 2023	$2,670,017,488	Pooled investment vehicles (84%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 88.6% of the book (60%+)

Turnover

High turnover

107.4% over the last four quarters (100%+)

Horizon

Horizon unknown

The value-weighted holding period is at least 3.9 quarters, but 0.9% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 89.9%; sector active share 41.1% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

40 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

17.8%

−0.3 pts

Top 5

58.3%

−1.1 pts

Top 10

88.6%

−1.2 pts

HHI

957

Diversified−29

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Technology	26.8%	$271,196,177	18
Industrials	26.5%	$267,431,685	7
Financial Services	19.7%	$199,198,390	6
Communication Services	17.8%	$179,797,492	1
Consumer Defensive	9.0%	$90,706,413	2
Basic Materials	0.2%	$1,676,176	1
Consumer Cyclical	0.1%	$776,771	5

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

4 positions

Ticker	Company	Δ Shares	Shares	Value
PM	Philip Morris International Inc.	+96,796	501,070	$90,648,573
SNOW	Snowflake Inc.	+63,440	64,948	$16,529,266
V	Visa Inc.	+49,402	277,412	$95,177,283
ARM	Arm Holdings PLC	+1,100	2,100	$744,597
No positions match the current search.

Trimmed

Positions the filer reduced

15 positions

Ticker	Company	Δ Shares	Shares	Value
APG	APi Group Corp	−923,488	922,659	$39,074,608
DOCN	DigitalOcean Holdings, Inc.	−496,602	100	$15,703
MSFT	Microsoft Corp	−256,016	1,810	$675,166
ACGL	Arch Capital Group Ltd.	−175,557	306,665	$29,764,904
GLW	Corning Inc	−168,432	188,501	$48,148,810
GOOGL	Alphabet Inc.	−121,670	503,113	$179,797,492
RTX	RTX Corp	−106,408	496,055	$94,116,515
XYZ	Block, Inc.	−79,679	112,828	$8,574,928
AVGO	Broadcom Inc.	−63,455	2,370	$895,267
PWR	Quanta Services, Inc.	−48,033	180,244	$129,782,889
TSM	Taiwan Semiconductor Manufacturing Co Ltd	−45,846	169,817	$81,099,504
GE	General Electric Co	−13,692	2,611	$975,809
ICE	Intercontinental Exchange, Inc.	−7,300	1,000	$123,110
LIN	Linde PLC	−5,370	3,230	$1,676,176
FIG	Figma, Inc.	−2,739	14,342	$259,446
No positions match the current search.

New Positions

Positions the filer opened this quarter

12 positions

Ticker	Company	Shares	Value
AFL	Aflac Inc	604,852	$70,918,897
FTNT	Fortinet, Inc.	397,555	$61,072,399
SNDK	Sandisk Corp	19,900	$45,247,227
ALAB	Astera Labs, Inc.	7,200	$3,477,744
PGR	Progressive Corp	14,640	$3,198,108
AMAT	Applied Materials Inc	4,360	$3,152,280
DY	Dycom Industries Inc	6,040	$3,053,763
QCOM	Qualcomm Inc	3,200	$591,328
INTC	Intel Corp	2,047	$285,822
FIX	Comfort Systems USA Inc	130	$257,653
DELL	Dell Technologies Inc.	452	$195,019
ETN	Eaton Corp plc	400	$170,448
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
LHX	L3harris Technologies, Inc.	39,755	$13,721,438
LULU	lululemon athletica inc.	3,300	$505,230
CBRE	Cbre Group, Inc.	1,000	$135,460
NKE	NIKE, Inc.	4	$211
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

40 tracked positions · $1,010,783,104 total · filing declares 40 positions · $1,010,783,119 · as of Jun 30, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
GOOGL	Alphabet Inc. Communication Services	Reduced	503,113	-121,670	$179,797,492	+0.1%	4	$214.30	17.79%
PWR	Quanta Services, Inc. Industrials	Reduced	180,244	-48,033	$129,782,889	+3.6%	3	$455.05	12.84%
V	Visa Inc. Financial Services	Added	277,412	+49,402	$95,177,283	+38.1%	2	$321.46	9.42%
RTX	RTX Corp Industrials	Reduced	496,055	-106,408	$94,116,515	−19.0%	5	$148.59	9.31%
PM	Philip Morris International Inc. Consumer Defensive	Added	501,070	+96,796	$90,648,573	+35.6%	8	$131.74	8.97%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Reduced	169,817	-45,846	$81,099,504	+11.3%	3	$339.93	8.02%
AFL	Aflac Inc Financial Services	NEW	604,852	NEW	$70,918,897	NEW	1	$115.12	7.02%
FTNT	Fortinet, Inc. Technology	NEW	397,555	NEW	$61,072,399	NEW	1	$115.56	6.04%
GLW	Corning Inc Technology	Reduced	188,501	-168,432	$48,148,810	−0.8%	2	$120.60	4.76%
SNDK	Sandisk Corp Technology	NEW	19,900	NEW	$45,247,227	NEW	1	$1,427.50	4.48%
APG	APi Group Corp Industrials	Reduced	922,659	-923,488	$39,074,608	−47.8%	4	unpriced	3.87%
ACGL	Arch Capital Group Ltd. Financial Services	Reduced	306,665	-175,557	$29,764,904	−35.7%	14	$79.45	2.94%
SNOW	Snowflake Inc. Technology	Added	64,948	+63,440	$16,529,266	+7167.7%	6	$185.34	1.64%
XYZ	Block, Inc. Technology	Reduced	112,828	-79,679	$8,574,928	−26.0%	26+	before history	0.85%
ALAB	Astera Labs, Inc. Technology	NEW	7,200	NEW	$3,477,744	NEW	1	$265.37	0.34%
PGR	Progressive Corp Financial Services	NEW	14,640	NEW	$3,198,108	NEW	1	$201.54	0.32%
AMAT	Applied Materials Inc Technology	NEW	4,360	NEW	$3,152,280	NEW	1	$461.39	0.31%
DY	Dycom Industries Inc Industrials	NEW	6,040	NEW	$3,053,763	NEW	1	$437.06	0.30%
LIN	Linde PLC Basic Materials	Reduced	3,230	-5,370	$1,676,176	−60.7%	2	$471.81	0.17%
GE	General Electric Co Industrials	Reduced	2,611	-13,692	$975,809	−78.9%	10	unpriced	0.10%
AVGO	Broadcom Inc. Technology	Reduced	2,370	-63,455	$895,267	−95.6%	7	$306.53	0.09%
ARM	Arm Holdings PLC Technology	Added	2,100	+1,100	$744,597	+392.2%	6	$205.68	0.07%
MSFT	Microsoft Corp Technology	Reduced	1,810	-256,016	$675,166	−99.3%	26+	before history	0.07%
QCOM	Qualcomm Inc Technology	NEW	3,200	NEW	$591,328	NEW	1	$187.00	0.06%
ABNB	Airbnb, Inc. Consumer Cyclical	Held	3,557	0	$509,006	+13.3%	3	$124.53	0.05%
INTC	Intel Corp Technology	NEW	2,047	NEW	$285,822	NEW	1	$101.12	0.03%
FIG	Figma, Inc. Technology	Reduced	14,342	-2,739	$259,446	−28.1%	4	$68.00	0.03%
FIX	Comfort Systems USA Inc Industrials	NEW	130	NEW	$257,653	NEW	1	$1,814.55	0.03%
DELL	Dell Technologies Inc. Technology	NEW	452	NEW	$195,019	NEW	1	$289.23	0.02%
DASH	DoorDash, Inc. Consumer Cyclical	Held	1,000	0	$184,530	+22.9%	4	$250.83	0.02%
ETN	Eaton Corp plc Industrials	NEW	400	NEW	$170,448	NEW	1	$403.27	0.02%
NVDA	Nvidia Corp Technology	Held	729	0	$145,865	+14.7%	13	$68.67	0.01%
ICE	Intercontinental Exchange, Inc. Financial Services	Reduced	1,000	-7,300	$123,110	−90.6%	7	$163.11	0.01%
LITE	Lumentum Holdings Inc. Technology	Held	100	0	$85,806	+22.1%	2	$549.36	0.01%
MDLZ	Mondelez International, Inc. Consumer Defensive	Held	1,000	0	$57,840	+0.3%	2	$57.91	0.01%
TSLA	Tesla, Inc. Consumer Cyclical	Held	100	0	$42,060	+13.1%	8	$228.05	0.00%
AMZN	Amazon Com Inc Consumer Cyclical	Held	100	0	$23,834	+14.4%	10	$227.95	0.00%
WING	Wingstop Inc. Consumer Cyclical	Held	100	0	$17,341	+11.9%	3	$247.68	0.00%
KEY	Keycorp Financial Services	Held	698	0	$16,088	+15.0%	8	$15.87	0.00%
DOCN	DigitalOcean Holdings, Inc. Technology	Reduced	100	-496,602	$15,703	−100.0%	2	$63.05	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.