Gladstone Capital Management LLP

LONDON, X0 · CIK 1353394 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2015 · limited liability partnership

Assets managed$1.6bn
Staff17 · 7 in investment roles
Main clients (by assets)Private funds 72%, Pension plans 28%
Private funds1 (1 hedge) · $1.1bn gross assets
Websitegladstone-management.com
Form ADV · 2026-08-14SEC adviser record

Legal entityGLADSTONE CAPITAL MANAGEMENT LLP (GB)

Kindhedge funds, FCA fund manager
Others nearbyLondon

As an employer

Offices in1 country
Private fundshedge 1

In the UK

FCA-authorised companies1
Manages investmentsyes
Runs fundsyes
Retail clientsno, professional only

Company	Town	Staff	Pay gap report	FCA register
GLADSTONE CAPITAL MANAGEMENT LLP Limited Liability PartnershipFCA: Authorised · manages investments, manages AIFs, advises, deals	London			Authorisedmanages investments, manages AIFs, advises, deals

Sources: Companies House (accounts filed electronically; the largest groups often file on paper, so their staff numbers can be missing), the UK gender pay gap service (employers with 250+ staff) and the FCA's Financial Services Register. Contains public sector information licensed under the Open Government Licence v3.0.

$1.0bn reported value +1.5% vs Q1 2026

40positions

88.6%in top 10

12 new 4 added 15 reduced 4 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ALPHABET INC CAP STK CL A GOOGL	GOOGL	503,113	$179.8m17.79%	17.79%	Reduced -121.7k	-121,670 -19.5%
2	QUANTA SVCS INC COM PWR	PWR	180,244	$129.8m12.84%	12.84%	Reduced -48.0k	-48,033 -21.0%
3	VISA INC COM CL A V	V	277,412	$95.2m9.42%	9.42%	Added +49.4k	+49,402 21.7%
4	RTX CORPORATION COM RTX	RTX	496,055	$94.1m9.31%	9.31%	Reduced -106.4k	-106,408 -17.7%
5	PHILIP MORRIS INTL INC COM PM	PM	501,070	$90.6m8.97%	8.97%	Added +96.8k	+96,796 23.9%
6	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	169,817	$81.1m8.02%	8.02%	Reduced -45.8k	-45,846 -21.3%
7	AFLAC INC COM AFL	AFL	604,852	$70.9m7.02%	7.02%	New
8	FORTINET INC COM FTNT	FTNT	397,555	$61.1m6.04%	6.04%	New
9	CORNING INC COM GLW	GLW	188,501	$48.1m4.76%	4.76%	Reduced -168.4k	-168,432 -47.2%
10	SANDISK CORP COM SNDK	SNDK	19,900	$45.2m4.48%	4.48%	New
11	API GROUP CORP COM STK APG	APG	922,659	$39.1m3.87%	3.87%	Reduced -923.5k	-923,488 -50.0%
12	ARCH CAP GROUP LTD ORD ACGL	ACGL	306,665	$29.8m2.94%	2.94%	Reduced -175.6k	-175,557 -36.4%
13	SNOWFLAKE INC CL A SNOW	SNOW	64,948	$16.5m1.64%	1.64%	Added +63.4k	+63,440 4206.9%
14	BLOCK INC CL A XYZ	XYZ	112,828	$8.6m0.85%	0.85%	Reduced -79.7k	-79,679 -41.4%
15	ASTERA LABS INC COM ALAB	ALAB	7,200	$3.5m0.34%	0.34%	New
16	PROGRESSIVE CORP COM PGR	PGR	14,640	$3.2m0.32%	0.32%	New
17	APPLIED MATLS INC COM AMAT	AMAT	4,360	$3.2m0.31%	0.31%	New
18	DYCOM INDS INC COM DY	DY	6,040	$3.1m0.30%	0.30%	New
19	LINDE PLC SHS LIN	LIN	3,230	$1.7m0.17%	0.17%	Reduced -5.4k	-5,370 -62.4%
20	GE AEROSPACE COM NEW GE	GE	2,611	$975.8k0.10%	0.10%	Reduced -13.7k	-13,692 -84.0%
21	BROADCOM INC COM AVGO	AVGO	2,370	$895.3k0.09%	0.09%	Reduced -63.5k	-63,455 -96.4%
22	ARM HOLDINGS PLC SPONSORED ADS ARM	ARM	2,100	$744.6k0.07%	0.07%	Added +1.1k	+1,100 110.0%
23	MICROSOFT CORP COM MSFT	MSFT	1,810	$675.2k0.07%	0.07%	Reduced -256.0k	-256,016 -99.3%
24	QUALCOMM INC COM QCOM	QCOM	3,200	$591.3k0.06%	0.06%	New
25	AIRBNB INC COM CL A ABNB	ABNB	3,557	$509.0k0.05%	0.05%	Unchanged
26	INTEL CORP COM INTC	INTC	2,047	$285.8k0.03%	0.03%	New
27	FIGMA INC CLASS A COM STK FIG	FIG	14,342	$259.4k0.03%	0.03%	Reduced -2.7k	-2,739 -16.0%
28	COMFORT SYS USA INC COM FIX	FIX	130	$257.7k0.03%	0.03%	New
29	DELL TECHNOLOGIES INC CL C DELL	DELL	452	$195.0k0.02%	0.02%	New
30	DOORDASH INC CL A DASH	DASH	1,000	$184.5k0.02%	0.02%	Unchanged
31	EATON CORP PLC SHS ETN	ETN	400	$170.4k0.02%	0.02%	New
32	NVIDIA CORPORATION COM NVDA	NVDA	729	$145.9k0.01%	0.01%	Unchanged
33	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	1,000	$123.1k0.01%	0.01%	Reduced -7.3k	-7,300 -88.0%
34	LUMENTUM HLDGS INC COM LITE	LITE	100	$85.8k0.01%	0.01%	Unchanged
35	MONDELEZ INTL INC CL A MDLZ	MDLZ	1,000	$57.8k0.01%	0.01%	Unchanged
36	TESLA INC COM TSLA	TSLA	100	$42.1k0.00%	0.00%	Unchanged
37	AMAZON COM INC COM AMZN	AMZN	100	$23.8k0.00%	0.00%	Unchanged
38	WINGSTOP INC COM WING	WING	100	$17.3k0.00%	0.00%	Unchanged
39	KEYCORP COM KEY	KEY	698	$16.1k0.00%	0.00%	Unchanged
40	DIGITALOCEAN HLDGS INC COM DOCN	DOCN	100	$15.7k0.00%	0.00%	Reduced -496.6k	-496,602 -100.0%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
L3HARRIS TECHNOLOGIES INC LHX	LHX	39,755	$13.7m39.8k shares
LULULEMON ATHLETICA INC LULU	LULU	3,300	$685.8k3.3k shares
CBRE GROUP INC CBRE	CBRE	1,000	$182.4k1.0k shares
NIKE INC NKE	NKE	4	$2114 shares