1y return+21.7%S&P 500 +20.9%
3y return+65.5%S&P 500 +68.5%
5y return+26.3%S&P 500 +74.5%
10y return+611.1%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $711 against $357 in the S&P 500.2
Gladstone Capital Management LLPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| GOOGLAlphabet Inc | $179.8M | 17.8% | −19.5% |
| PWRQuanta Svcs Inc | $129.8M | 12.8% | −21.0% |
| VVisa Inc | $95.2M | 9.4% | +21.7% |
| RTXRtx Corporation | $94.1M | 9.3% | −17.7% |
| PMPhilip Morris Intl Inc | $90.6M | 9.0% | +23.9% |
| TSMTaiwan Semiconductor Manufac | $81.1M | 8.0% | −21.3% |
| AFLAflac Inc | $70.9M | 7.0% | New |
| FTNTFortinet Inc | $61.1M | 6.0% | New |
| GLWCorning Inc | $48.1M | 4.8% | −47.2% |
| SNDKSandisk Corp | $45.2M | 4.5% | New |
| APGApi Group Corp | $39.1M | 3.9% | −50.0% |
| Arch Cap Group LtdCUSIP G0450A105 | $29.8M | 2.9% | −36.4% |
| SNOWSnowflake Inc | $16.5M | 1.6% | +4206.9% |
| XYZBlock Inc | $8.6M | 0.8% | −41.4% |
| ALABAstera Labs Inc | $3.5M | 0.3% | New |
| PGRProgressive Corp | $3.2M | 0.3% | New |
| AMATApplied Matls Inc | $3.2M | 0.3% | New |
| DYDycom Inds Inc | $3.1M | 0.3% | New |
| Linde PLCCUSIP G54950103 | $1.7M | 0.2% | −62.4% |
| GEGe Aerospace | $976K | 0.1% | −84.0% |
| AVGOBroadcom Inc | $895K | 0.1% | −96.4% |
| ARMArm Holdings PLC | $745K | 0.1% | +110.0% |
| MSFTMicrosoft Corp | $675K | 0.1% | −99.3% |
| QCOMQualcomm Inc | $591K | 0.1% | New |
| ABNBAirbnb Inc | $509K | 0.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | June 30, 2023 | +373.0% | $146K |
| ARMArm Holdings PLC | March 31, 2025 | +232.0% | $745K |
| GEGe Aerospace | March 31, 2024 | +112.9% | $976K |
| GLWCorning Inc | March 31, 2026 | +87.9% | $48.1M |
| MSFTMicrosoft Corp | June 30, 2020 | +83.3% | $675K |
| DOCNDigitalocean Hldgs Inc | March 31, 2026 | +83.1% | $16K |
| SNOWSnowflake Inc | March 31, 2025 | +74.1% | $16.5M |
| PWRQuanta Svcs Inc | December 31, 2025 | +70.6% | $129.8M |
| AVGOBroadcom Inc | December 31, 2024 | +62.9% | $895K |
| TSLATesla Inc | September 30, 2024 | +60.8% | $42K |
Sold off last quarter
- LHXL3HARRIS Technologies Inv was $13.7M
- LULULululemon Atheletic Inc was $686K
- CBRECapital One Finance Corp was $182K
- NKENike Inc was $211
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +21.7% | +14.8% |
| March 31, 2026 | −4.1% | −4.6% |
| December 31, 2025 | +5.1% | +2.4% |
| September 30, 2025 | −0.8% | +7.8% |
| June 30, 2025 | +15.5% | +10.5% |
| March 31, 2025 | −3.9% | −4.6% |
| December 31, 2024 | +0.8% | +2.1% |
| September 30, 2024 | +5.1% | +5.4% |
| June 30, 2024 | +4.1% | +4.0% |
| March 31, 2024 | +10.5% | +10.0% |
| December 31, 2023 | +6.5% | +11.2% |
| September 30, 2023 | −5.6% | −3.6% |
| June 30, 2023 | +12.4% | +8.3% |
| March 31, 2023 | +21.7% | +7.0% |
| December 31, 2022 | +1.6% | +7.1% |
| September 30, 2022 | −10.7% | −5.3% |
| June 30, 2022 | −25.0% | −16.5% |
| March 31, 2022 | −13.6% | −4.9% |
| December 31, 2021 | −4.6% | +10.7% |
| September 30, 2021 | −0.5% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Gladstone Capital Management LLP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1353394&type=13F-HR&dateb=&owner=include&count=40CIK 1353394
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1353394/000135339426000008/Filed August 14, 2026 · accession 0001353394-26-000008