Gladstone Capital Management LLP — 13F holdings

Gladstone Capital Management LLP reported 40 holdings worth $1.01B in its 13F filing for Q2 2026, filed August 14, 2026. That's up 1.5% from $996M in Q1 2026, when it reported 32 holdings. Its 10 largest positions make up 88.6% of the portfolio.

Gladstone Capital Management LLP's largest positions in Q2 2026

1. GOOGL ALPHABET INC — $180M (17.8%) · cut 19%
2. PWR QUANTA SVCS INC — $130M (12.8%) · cut 21%
3. V Visa Inc — $95.2M (9.4%) · added 22%
4. RTX RTX CORPORATION — $94.1M (9.3%) · cut 18%
5. PM PHILIP MORRIS INTL INC — $90.6M (9.0%) · added 24%
6. TSM TAIWAN SEMICONDUCTOR MFG LTD — $81.1M (8.0%) · cut 21%
7. AFL AFLAC INC — $70.9M (7.0%) · new position
8. FTNT FORTINET INC — $61.1M (6.0%) · new position
9. GLW CORNING INC — $48.1M (4.8%) · cut 47%
10. SNDK SANDISK CORP — $45.2M (4.5%) · new position
11. APG API GROUP CORP — $39.1M (3.9%) · cut 50%
12. ACGL ARCH CAP GROUP LTD — $29.8M (2.9%) · cut 36%
13. SNOW SNOWFLAKE INC — $16.5M (1.6%) · added 4207%
14. XYZ BLOCK INC — $8.57M (0.8%) · cut 41%
15. ALAB ASTERA LABS INC — $3.48M (0.3%) · new position
16. PGR PROGRESSIVE CORP — $3.20M (0.3%) · new position
17. AMAT APPLIED MATLS INC — $3.15M (0.3%) · new position
18. DY DYCOM INDS INC — $3.05M (0.3%) · new position
19. LIN LINDE PLC — $1.68M (0.2%) · cut 62%
20. GE GE AEROSPACE — $976K (0.1%) · cut 84%

What Gladstone Capital Management LLP bought in Q2 2026

12 new positions and 4 positions added to.

1. AFL AFLAC INC — new position, about $70.9M
2. FTNT FORTINET INC — new position, about $61.1M
3. SNDK SANDISK CORP — new position, about $45.2M
4. PM PHILIP MORRIS INTL INC — added, about $17.5M
5. V Visa Inc — added, about $16.9M
6. SNOW SNOWFLAKE INC — added, about $16.1M
7. ALAB ASTERA LABS INC — new position, about $3.48M
8. PGR PROGRESSIVE CORP — new position, about $3.20M
9. AMAT APPLIED MATLS INC — new position, about $3.15M
10. DY DYCOM INDS INC — new position, about $3.05M

What Gladstone Capital Management LLP sold in Q2 2026

4 positions sold out and 15 reduced.

1. MSFT MICROSOFT CORP — cut 99%, about $95.5M
2. DOCN DIGITALOCEAN HLDGS INC — cut 100%, about $78.0M
3. GOOGL ALPHABET INC — cut 19%, about $43.5M
4. GLW CORNING INC — cut 47%, about $43.0M
5. APG API GROUP CORP — cut 50%, about $39.1M
6. PWR QUANTA SVCS INC — cut 21%, about $34.6M
7. AVGO BROADCOM INC — cut 96%, about $24.0M
8. TSM TAIWAN SEMICONDUCTOR MFG LTD — cut 21%, about $21.9M
9. RTX RTX CORPORATION — cut 18%, about $20.2M
10. ACGL ARCH CAP GROUP LTD — cut 36%, about $17.0M

Gladstone Capital Management LLP portfolio value by quarter

• Q2 2026: $1.01B in 40 holdings
• Q1 2026: $996M in 32 holdings
• Q4 2025: $969M in 28 holdings
• Q3 2025: $915M in 23 holdings
• Q2 2025: $969M in 22 holdings
• Q1 2025: $971M in 24 holdings
• Q4 2024: $1.20B in 28 holdings

What does Gladstone Capital Management LLP own?

Its largest positions in Q2 2026 were GOOGL, PWR, V, RTX, PM, out of 40 holdings worth $1.01B.

What did Gladstone Capital Management LLP buy last quarter?

In Q2 2026 it opened 12 new positions and added to 4; the largest buys were AFL, FTNT, SNDK.

What did Gladstone Capital Management LLP sell last quarter?

In Q2 2026 it sold out of 4 positions and reduced 15, including LHX, LULU, CBRE.