Gladstone Capital Management LLP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Gladstone Capital Management LLP reported 40 stock positions worth $1.0 billion. Its top holding was Alphabet Class A (GOOGL) at 17.8% of the portfolio, followed by Quanta Services (PWR, 12.8%) and Visa Class A (V, 9.4%). Compared with Q1 2026, it opened 12 new positions, sold out of 4, added to 4 and reduced 15. The biggest buy was a new position in Aflac (AFL) and the biggest sale Microsoft (MSFT, shares −99%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001353394
- Portfolio Value
- $1.0B (Q2 2026)
- SEC Filing
- 0001353394-26-000008 ↗ filed Aug 14, 2026
Holdings Value
Holdings 40 stocks · $1.0B
| GOOGL Alphabet Inc. Class A | 17.79% | 503,113 | $179.8M | Reduce -19.5% |
| PWR Quanta Services Inc. | 12.84% | 180,244 | $129.8M | Reduce -21.0% |
| V Visa Inc. Class A | 9.42% | 277,412 | $95.2M | Add +21.7% |
| RTX RTX Corp. | 9.31% | 496,055 | $94.1M | Reduce -17.7% |
| PM Philip Morris International | 8.97% | 501,070 | $90.6M | Add +23.9% |
| TSM Taiwan Semiconductor-SP ADR | 8.02% | 169,817 | $81.1M | Reduce -21.3% |
| AFL Aflac Inc. | 7.02% | 604,852 | $70.9M | New |
| FTNT Fortinet Inc. | 6.04% | 397,555 | $61.1M | New |
| GLW Corning Inc. | 4.76% | 188,501 | $48.1M | Reduce -47.2% |
| SNDK Sandisk Corp. | 4.48% | 19,900 | $45.2M | New |
| APG Api Group Corp. | 3.87% | 922,659 | $39.1M | Reduce -50.0% |
| ACGL Arch Capital Group Ltd. | 2.94% | 306,665 | $29.8M | Reduce -36.4% |
| SNOW Snowflake Inc. | 1.64% | 64,948 | $16.5M | Add +4206.9% |
| XYZ Block Inc. | 0.85% | 112,828 | $8.6M | Reduce -41.4% |
| ALAB Astera Labs Inc. | 0.34% | 7,200 | $3.5M | New |
| PGR Progressive Corp. | 0.32% | 14,640 | $3.2M | New |
| AMAT Applied Materials Inc. | 0.31% | 4,360 | $3.2M | New |
| DY Dycom Industries Inc. | 0.30% | 6,040 | $3.1M | New |
| LIN Linde PLC | 0.17% | 3,230 | $1.7M | Reduce -62.4% |
| GE General Electric filed as GE AEROSPACE | 0.10% | 2,611 | $976K | Reduce -84.0% |
| AVGO Broadcom Inc. | 0.09% | 2,370 | $895K | Reduce -96.4% |
| ARM Arm Holdings PLC-ADR | 0.07% | 2,100 | $745K | Add +110.0% |
| MSFT Microsoft Corp. | 0.07% | 1,810 | $675K | Reduce -99.3% |
| QCOM Qualcomm Inc. | 0.06% | 3,200 | $591K | New |
| ABNB Airbnb Inc. Class A | 0.05% | 3,557 | $509K | No change |
| INTC Intel Corp. | 0.03% | 2,047 | $286K | New |
| FIG Figma Inc. Class A | 0.03% | 14,342 | $259K | Reduce -16.0% |
| FIX Comfort Systems USA Inc. | 0.03% | 130 | $258K | New |
| DELL Dell Technologies -C | 0.02% | 452 | $195K | New |
| DASH DoorDash Inc. Class A | 0.02% | 1,000 | $185K | No change |
| ETN Eaton Corp. PLC | 0.02% | 400 | $170K | New |
| NVDA Nvidia Corp. | 0.01% | 729 | $146K | No change |
| ICE Intercontinental Exchange Inc. | 0.01% | 1,000 | $123K | Reduce -88.0% |
| LITE Lumentum Holdings Inc. | 0.01% | 100 | $86K | No change |
| MDLZ Mondelez International Inc. Class A | 0.01% | 1,000 | $58K | No change |
| TSLA Tesla Inc. | 0.00% | 100 | $42K | No change |
| AMZN Amazon.com Inc. | 0.00% | 100 | $24K | No change |
| WING Wingstop Inc. | 0.00% | 100 | $17K | No change |
| KEY Keycorp | 0.00% | 698 | $16K | No change |
| DOCN Digitalocean Holdings Inc. | 0.00% | 100 | $16K | Reduce -100.0% |
Portfolio Sells Q1 2026 → Q2 2026
| MSFT Microsoft Corp. | Reduce -99.3% | 0.07% | −9.52 |
| DOCN Digitalocean Holdings Inc. | Reduce -100.0% | 0.00% | −4.28 |
| APG Api Group Corp. | Reduce -50.0% | 3.87% | −3.65 |
| RTX RTX Corp. | Reduce -17.7% | 9.31% | −2.36 |
| AVGO Broadcom Inc. | Reduce -96.4% | 0.09% | −1.96 |
| ACGL Arch Capital Group Ltd. | Reduce -36.4% | 2.94% | −1.70 |
| LHX L3HARRIS Technologies Inc. | Sold out | 0.00% | −1.38 |
| GE General Electric | Reduce -84.0% | 0.10% | −0.37 |
| XYZ Block Inc. | Reduce -41.4% | 0.85% | −0.31 |
| LIN Linde PLC | Reduce -62.4% | 0.17% | −0.26 |
| GOOGL Alphabet Inc. Class A | Reduce -19.5% | 17.79% | −0.25 |
| ICE Intercontinental Exchange Inc. | Reduce -88.0% | 0.01% | −0.12 |
| GLW Corning Inc. | Reduce -47.2% | 4.76% | −0.11 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.07 |
| CBRE CBRE Group Inc. Class A | Sold out | 0.00% | −0.02 |
| FIG Figma Inc. Class A | Reduce -16.0% | 0.03% | −0.01 |
| NKE Nike Inc. Class B | Sold out | 0.00% | 0.00 |
| PWR Quanta Services Inc. | Reduce -21.0% | 12.84% | +0.26 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -21.3% | 8.02% | +0.71 |
Portfolio Buys Q1 2026 → Q2 2026
| AFL Aflac Inc. | New | 7.02% | +7.02 |
| FTNT Fortinet Inc. | New | 6.04% | +6.04 |
| SNDK Sandisk Corp. | New | 4.48% | +4.48 |
| V Visa Inc. Class A | Add +21.7% | 9.42% | +2.50 |
| PM Philip Morris International | Add +23.9% | 8.97% | +2.26 |
| SNOW Snowflake Inc. | Add +4206.9% | 1.64% | +1.61 |
| ALAB Astera Labs Inc. | New | 0.34% | +0.34 |
| PGR Progressive Corp. | New | 0.32% | +0.32 |
| AMAT Applied Materials Inc. | New | 0.31% | +0.31 |
| DY Dycom Industries Inc. | New | 0.30% | +0.30 |
| ARM Arm Holdings PLC-ADR | Add +110.0% | 0.07% | +0.06 |
| QCOM Qualcomm Inc. | New | 0.06% | +0.06 |
| INTC Intel Corp. | New | 0.03% | +0.03 |
| FIX Comfort Systems USA Inc. | New | 0.03% | +0.03 |
| DELL Dell Technologies -C | New | 0.02% | +0.02 |
| ETN Eaton Corp. PLC | New | 0.02% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 40 | $1.0B | GOOGL, PWR, V, RTX, PM |
| Q1 2026 | 32 | $995.9M | GOOGL, PWR, RTX, MSFT, APG |
| Q4 2025 | 28 | $969.3M | GOOGL, RTX, MSFT, APG, PWR |
| Q3 2025 | 23 | $915.5M | GOOGL, MSFT, PM, RTX, AVGO |
| Q2 2025 | 22 | $969.2M | PM, ICE, ACGL, META, AMZN |
| Q1 2025 | 24 | $971.2M | META, ACGL, PM, ICE, AMZN |
| Q4 2024 | 28 | $1.2B | AAPL, ACGL, PM, MSFT, AMZN |
| Q3 2024 | 22 | $1.2B | GOOGL, MSFT, ACGL, GE, PM |
| Q2 2024 | 18 | $1.1B | GOOGL, MSFT, ACGL, AMZN, GE |
| Q1 2024 | 19 | $1.0B | MSFT, ACGL, GOOGL, XYZ, MDB |