Institutional Manager · CIK 0001353394
Gladstone Capital Management LLP
LONDON, X0 · File #028-17392
Latest AUM
$969.3M
Positions
28
Top-10 Concentration
90.0%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | Quanta Services Inc | 74762E102 | +180,981 | +$76.4M | $0 |
| REDUCE | Philip Morris International Inc | 718172109 | -406,531 | -$65.2M | -$1.5M |
| ADD | Snowflake Inc | SNOW | +162,054 | +$35.5M | -$43,008 |
| NEW | Airbnb Inc | ABNB | +209,100 | +$28.4M | $0 |
| REDUCE | Broadcom Inc | AVGO | -76,846 | -$26.6M | +$4.7M |
| REDUCE | Intercontinental Exchanges Inc | 45866F104 | -157,789 | -$25.6M | -$1.0M |
| REDUCE | Capital One Finance Corp | CBRE | -62,359 | -$15.1M | +$4.2M |
| REDUCE | Block Inc | BSQKZ | -189,883 | -$12.4M | -$5.1M |
| REDUCE | Alphabet Inc | GOOG | -38,243 | -$12.0M | +$44.3M |
| REDUCE | Microsoft Corp | MSFT | -21,789 | -$10.5M | -$8.9M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202528 pos · $969.3M
- 13F HOLDINGS REPORTQ/E Sep 202523 pos · $915.5M
- 13F HOLDINGS REPORTQ/E Jun 202522 pos · $969.2M
- 13F HOLDINGS REPORTQ/E Mar 202524 pos · $971.2M
- 13F HOLDINGS REPORTQ/E Dec 202428 pos · $1.20B
- 13F HOLDINGS REPORTQ/E Sep 202422 pos · $1.19B
- 13F HOLDINGS REPORTQ/E Jun 202418 pos · $1.13B
- 13F HOLDINGS REPORTQ/E Mar 202419 pos · $1.01B
- 13F HOLDINGS REPORTQ/E Dec 202315 pos · $979.3M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | Alphabet Inc | GOOG | 595,957 | $186.5M | 19.25% |
| 2 | RTX Corp | RTX | 650,965 | $119.4M | 12.32% |
| 3 | Microsoft Corp | MSFT | 238,707 | $115.4M | 11.91% |
| 4 | Api Group Corp | APG | 2,181,558 | $83.5M | 8.61% |
| 5 | Quanta Services Inc | 74762E102 | 180,981 | $76.4M | 7.88% |
| 6 | Broadcom Inc | AVGO | 213,066 | $73.7M | 7.61% |
| 7 | Arch Capital Group Ltd | G0450A105 | 750,533 | $72.0M | 7.43% |
| 8 | Philip Morris International Inc | 718172109 | 407,642 | $65.4M | 6.75% |
| 9 | Meta Platforms Inc | META | 58,974 | $43.3M | 4.47% |
| 10 | Snowflake Inc | SNOW | 169,002 | $37.1M | 3.82% |
| 11 | Block Inc | BSQKZ | 514,928 | $33.5M | 3.46% |
| 12 | Airbnb Inc | ABNB | 209,100 | $28.4M | 2.93% |
| 13 | Capital One Finance Corp | CBRE | 78,097 | $18.9M | 1.95% |
| 14 | DoorDash Inc | DASH | 31,397 | $7.1M | 0.73% |
| 15 | Taiwan Semiconductor Manufacturing Co Ltd | 874039100 | 17,860 | $5.4M | 0.56% |
| 16 | Amazon.com Inc | AMZN | 3,000 | $691,460 | 0.07% |
| 17 | Lululemon Atheletic Inc | LULU | 3,300 | $685,773 | 0.07% |
| 18 | Figma Inc | FIG | 17,081 | $638,317 | 0.07% |
| 19 | General Electric Co | 369604301 | 1,548 | $476,830 | 0.05% |
| 20 | NVIDIA Corp | NVDA | 1,000 | $186,500 | 0.02% |