Gladstone Capital Management LLP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Gladstone Capital Management LLP reported 24 stock positions worth $971.2 million. Its top holding was Meta Platforms Class A (META) at 12.5% of the portfolio, followed by Arch Capital (ACGL, 12.5%) and Philip Morris International (PM, 12.2%). Compared with Q4 2024, it opened 7 new positions, sold out of 11, added to 3 and reduced 10. The biggest buy was Alibaba Group Holding-SP ADR (BABA, shares +57154%) and the biggest sale Apple (AAPL, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001353394
- Portfolio Value
- $971.2M (Q1 2025)
- SEC Filing
- 0001353394-25-000004 ↗ filed May 13, 2025
Holdings Value
Holdings 24 stocks · $971.2M
| META Meta Platforms Inc. Class A | 12.52% | 211,005 | $121.6M | Add +60.7% |
| ACGL Arch Capital Group Ltd. | 12.51% | 1,263,448 | $121.5M | Reduce -5.6% |
| PM Philip Morris International | 12.18% | 745,329 | $118.3M | Reduce -15.6% |
| ICE Intercontinental Exchange Inc. | 10.38% | 584,336 | $100.8M | Add +101.4% |
| AMZN Amazon.com Inc. | 8.81% | 390,046 | $85.6M | No change |
| BABA Alibaba Group Holding-SP ADR | 7.80% | 572,542 | $75.7M | Add +57154.2% |
| MSFT Microsoft Corp. | 7.20% | 186,191 | $69.9M | Reduce -23.9% |
| GE General Electric filed as GE AEROSPACE | 6.49% | 314,811 | $63.0M | Reduce -29.3% |
| SNOW Snowflake Inc. | 6.27% | 416,311 | $60.8M | New |
| DE Deere & Co. | 6.04% | 125,059 | $58.7M | New |
| XYZ Block Inc. | 4.73% | 844,746 | $45.9M | Reduce -14.5% |
| CBRE CBRE Group Inc. Class A | 2.78% | 206,791 | $27.0M | Reduce -38.3% |
| HLT Hilton Worldwide Holdings Inc. | 1.97% | 84,219 | $19.2M | New |
| ARM Arm Holdings PLC-ADR | 0.13% | 11,815 | $1.3M | New |
| COIN Coinbase Global Inc. Class A | 0.09% | 4,900 | $844K | New |
| WMT Walmart Inc. | 0.04% | 4,027 | $354K | Reduce -98.9% |
| AAPL Apple Inc. | 0.02% | 1,000 | $222K | Reduce -99.9% |
| ABNB Airbnb Inc. Class A | 0.01% | 1,000 | $119K | New |
| NVDA Nvidia Corp. | 0.01% | 1,000 | $108K | No change |
| AVGO Broadcom Inc. | 0.01% | 610 | $102K | Reduce -99.0% |
| NKE Nike Inc. Class B | 0.01% | 1,000 | $63K | New |
| TSLA Tesla Inc. | 0.00% | 100 | $26K | Reduce -87.7% |
| KEY Keycorp | 0.00% | 698 | $11K | No change |
| DFS Discover Financial Services | 0.00% | 49 | $8K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| AAPL Apple Inc. | Reduce -99.9% | 0.02% | −14.85 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −6.10 |
| ANET Arista Networks Inc. | Sold out | 0.00% | −5.72 |
| TW Tradeweb Markets Inc. Class A | Sold out | 0.00% | −4.41 |
| WMT Walmart Inc. | Reduce -98.9% | 0.04% | −2.74 |
| XYZ Block Inc. | Reduce -14.5% | 4.73% | −2.27 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −1.51 |
| MSFT Microsoft Corp. | Reduce -23.9% | 7.20% | −1.39 |
| AVGO Broadcom Inc. | Reduce -99.0% | 0.01% | −1.13 |
| CBRE CBRE Group Inc. Class A | Reduce -38.3% | 2.78% | −0.88 |
| FCNCA First Citizens Bcshs Class A | Sold out | 0.00% | −0.77 |
| GEV GE Vernova Inc. | Sold out | 0.00% | −0.38 |
| CIEN Ciena Corp. | Sold out | 0.00% | −0.19 |
| CEG Constellation Energy | Sold out | 0.00% | −0.13 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.10 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.10 |
| TSLA Tesla Inc. | Reduce -87.7% | 0.00% | −0.02 |
| COO The Cooper Cos Inc. | Sold out | 0.00% | −0.01 |
| GE General Electric | Reduce -29.3% | 6.49% | +0.30 |
| ACGL Arch Capital Group Ltd. | Reduce -5.6% | 12.51% | +2.22 |
| PM Philip Morris International | Reduce -15.6% | 12.18% | +3.32 |
Portfolio Buys Q4 2024 → Q1 2025
| BABA Alibaba Group Holding-SP ADR | Add +57154.2% | 7.80% | +7.79 |
| ICE Intercontinental Exchange Inc. | Add +101.4% | 10.38% | +6.78 |
| SNOW Snowflake Inc. | New | 6.27% | +6.27 |
| META Meta Platforms Inc. Class A | Add +60.7% | 12.52% | +6.12 |
| DE Deere & Co. | New | 6.04% | +6.04 |
| HLT Hilton Worldwide Holdings Inc. | New | 1.97% | +1.97 |
| ARM Arm Holdings PLC-ADR | New | 0.13% | +0.13 |
| COIN Coinbase Global Inc. Class A | New | 0.09% | +0.09 |
| ABNB Airbnb Inc. Class A | New | 0.01% | +0.01 |
| NKE Nike Inc. Class B | New | 0.01% | +0.01 |
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 |