Vault-13

GLADSTONE CAP CORP GLAD 5.875 10.01.30

NOTE 5.875%10/0 · US DOMESTIC · CUSIP 376535AG5

21 institutional holders +1 vs Q1 2026
4,987,4535.0m shares reported held*
$92.3mreported value*
4 new 5 added 3 reduced 3 sold out net bought ≈ $3.0m (+157.5k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.3m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $18.97.

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

0102030Q3 25: 21Q4 25: 18Q1 26: 20Q2 26: 2121Q3 25Q4 25Q1 26Q2 26
Numbers
QuarterHolders
Q3 202521
Q4 202518
Q1 202620
Q2 202621

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
20020Q4 25: 5 bought or addedQ4 25: 9 cut or sold outQ4 25Q1 26: 12 bought or addedQ1 26: 7 cut or sold outQ1 26Q2 26: 9 bought or addedQ2 26: 6 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q4 202559
Q1 2026127
Q2 202696

Biggest buyers

OAKTREE CAPITAL MANAGEMENT LP Added +3,101,000+3.1m
Russell Investments Group, Ltd. Added +2,315,000+2.3m
Nuveen, LLC Added +1,681,000+1.7m
HBK INVESTMENTS L P Added +500,000+500.0k
&PARTNERS New +145,000+145.0k
STIFEL FINANCIAL CORP Added +15,726+15.7k
LANARK FINANCIAL, INC. New +10,000+10.0k
LAFFER TENGLER INVESTMENTS, INC. New +2,453+2.5k
MONETA GROUP INVESTMENT ADVISORS LLC New +149+149

Biggest sellers

KIM, LLC Sold out -2,000,000-2.0m
Quarry LP Sold out -1,046,000-1.0m
WATER ISLAND CAPITAL LLC Sold out -1,000,000-1.0m
CSS LLC/IL Reduced -500,000-500.0k
ROYAL BANK OF CANADA Reduced -94,000-94.0k
Centiva Capital, LP Reduced -250-250

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Radcliffe Capital Management, L.P. 1.56% of their portfolio BALA CYNWYD, PA 21,400,00021.4m $20.6m $20.6m 1.56% Unchanged
2 Context Capital Management, LLC 0.32% of their portfolio LAJOLLA, CA 16,400,00016.4m $15.8m $15.8m 0.32% Unchanged
3 Linden Advisors LP 0.06% of their portfolio New York, NY 12,130,00012.1m $11.7m $11.7m 0.06% Unchanged
4 HBK INVESTMENTS L P 0.11% of their portfolio DALLAS, TX 9,500,0009.5m $9.2m $9.2m 0.11% Added +500.0k +500,000
5 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 7,681,0007.7m $7.4m $7.4m 0.00% Added +1.7m +1,681,000
6 Walleye Capital LLC 0.03% of their portfolio NEW YORK, NY 6,000,0006.0m $5.8m $5.8m 0.03% Unchanged
7 OAKTREE CAPITAL MANAGEMENT LP 0.09% of their portfolio LOS ANGELES, CA 4,999,0005.0m $4.8m $4.8m 0.09% Added +3.1m +3,101,000
8 INCOME RESEARCH & MANAGEMENT 2.52% of their portfolio Boston, MA 4,830,0004.8m $4.6m $4.6m 2.52% Unchanged
9 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 3,681,0003.7m $3.6m $3.6m 0.00% Added +2.3m +2,315,000
10 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 3,270,0003.3m $3.1m $3.1m 0.00% Unchanged
11 WOLVERINE ASSET MANAGEMENT LLC 0.04% of their portfolio CHICAGO, IL 3,250,0003.2m $3.1m $3.1m 0.04% Unchanged
12 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,000,0001.0m $974.4k $974.4k 0.00% Unchanged
13 CSS LLC/IL 0.02% of their portfolio CHICAGO, IL 500,000500.0k $483.1k $483.1k 0.02% Reduced -500.0k -500,000
14 &PARTNERS 0.00% of their portfolio NASHVILLE, TN 145,000145.0k $139.4k $139.4k 0.00% New
15 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 86,00086.0k $84.0k $84.0k 0.00% Reduced -94.0k -94,000
16 STIFEL FINANCIAL CORP 0.00% of their portfolio ST. LOUIS, MO 62,49062.5k $62.5k $62.5k 0.00% Added +15.7k +15,726
17 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 60,00060.0k $57.7k $57.7k 0.00% Unchanged
18 LANARK FINANCIAL, INC. 0.00% of their portfolio BIRMINGHAM, AL 10,00010.0k $9.6k $9.6k 0.00% New
19 Centiva Capital, LP 0.02% of their portfolio New York, NY 6,2506.2k $603.2k $603.2k 0.02% Reduced -250 -250
20 LAFFER TENGLER INVESTMENTS, INC. 0.31% of their portfolio Scottsdale, AZ 2,4532.5k $2.4m $2.4m 0.31% New
21 MONETA GROUP INVESTMENT ADVISORS LLC 0.00% of their portfolio ST LOUIS, MO 149149 $14.3k $14.3k 0.00% New