Gladstone Capital Management LLP
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Gladstone Capital Management LLP reported 23 stock positions worth $915.5 million. Its top holding was Alphabet Class A (GOOGL) at 16.8% of the portfolio, followed by Microsoft (MSFT, 14.7%) and Philip Morris International (PM, 14.4%). Compared with Q2 2025, it opened 6 new positions, sold out of 5, added to 5 and reduced 8. The biggest buy was a new position in Alphabet Class A (GOOGL) and the biggest sale Amazon.com (AMZN, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001353394
- Portfolio Value
- $915.5M (Q3 2025)
- SEC Filing
- 0001353394-25-000018 ↗ filed Nov 14, 2025
Holdings Value
Holdings 23 stocks · $915.5M
| GOOGL Alphabet Inc. Class A | 16.84% | 634,200 | $154.2M | New |
| MSFT Microsoft Corp. | 14.74% | 260,496 | $134.9M | Add +41.2% |
| PM Philip Morris International | 14.43% | 814,173 | $132.1M | Add +12.0% |
| RTX RTX Corp. | 11.13% | 609,068 | $101.9M | Add +162.7% |
| AVGO Broadcom Inc. | 10.45% | 289,912 | $95.6M | Add +47426.6% |
| APG Api Group Corp. | 7.35% | 1,957,666 | $67.3M | New |
| ACGL Arch Capital Group Ltd. | 6.49% | 654,979 | $59.4M | Reduce -43.8% |
| XYZ Block Inc. | 5.56% | 704,811 | $50.9M | Reduce -9.0% |
| META Meta Platforms Inc. Class A | 4.73% | 58,974 | $43.3M | Reduce -58.7% |
| CBRE CBRE Group Inc. Class A | 3.26% | 140,456 | $29.9M | Add +203.7% |
| ICE Intercontinental Exchange Inc. | 2.91% | 157,889 | $26.6M | Reduce -74.3% |
| DASH DoorDash Inc. Class A | 1.56% | 52,636 | $14.3M | New |
| GE General Electric filed as GE AEROSPACE | 0.20% | 6,176 | $1.9M | Reduce -97.3% |
| SNOW Snowflake Inc. | 0.17% | 6,948 | $1.6M | Reduce -98.2% |
| FIG Figma Inc. Class A | 0.09% | 16,600 | $861K | New |
| NVDA Nvidia Corp. | 0.02% | 1,000 | $187K | No change |
| TEAM Atlassian Corp. Class A | 0.02% | 900 | $144K | New |
| ARM Arm Holdings PLC-ADR | 0.02% | 1,000 | $141K | No change |
| NOW ServiceNow Inc. | 0.02% | 150 | $138K | New |
| DE Deere & Co. | 0.01% | 100 | $46K | Reduce -99.9% |
| TSLA Tesla Inc. | 0.00% | 100 | $44K | No change |
| AMZN Amazon.com Inc. | 0.00% | 100 | $22K | Reduce -100.0% |
| KEY Keycorp | 0.00% | 698 | $13K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| AMZN Amazon.com Inc. | Reduce -100.0% | 0.00% | −10.37 |
| ICE Intercontinental Exchange Inc. | Reduce -74.3% | 2.91% | −8.71 |
| SNOW Snowflake Inc. | Reduce -98.2% | 0.17% | −8.63 |
| DE Deere & Co. | Reduce -99.9% | 0.01% | −7.72 |
| META Meta Platforms Inc. Class A | Reduce -58.7% | 4.73% | −6.15 |
| GE General Electric | Reduce -97.3% | 0.20% | −5.97 |
| ACGL Arch Capital Group Ltd. | Reduce -43.8% | 6.49% | −4.46 |
| COIN Coinbase Global Inc. Class A | Sold out | 0.00% | −0.26 |
| APP AppLovin Corp. Class A | Sold out | 0.00% | −0.04 |
| WMT Walmart Inc. | Sold out | 0.00% | −0.02 |
| ABNB Airbnb Inc. Class A | Sold out | 0.00% | −0.01 |
| NKE Nike Inc. Class B | Sold out | 0.00% | −0.01 |
| XYZ Block Inc. | Reduce -9.0% | 5.56% | +0.14 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | New | 16.84% | +16.84 |
| AVGO Broadcom Inc. | Add +47426.6% | 10.45% | +10.43 |
| RTX RTX Corp. | Add +162.7% | 11.13% | +7.64 |
| APG Api Group Corp. | New | 7.35% | +7.35 |
| MSFT Microsoft Corp. | Add +41.2% | 14.74% | +5.27 |
| CBRE CBRE Group Inc. Class A | Add +203.7% | 3.26% | +2.25 |
| DASH DoorDash Inc. Class A | New | 1.56% | +1.56 |
| PM Philip Morris International | Add +12.0% | 14.43% | +0.76 |
| FIG Figma Inc. Class A | New | 0.09% | +0.09 |
| TEAM Atlassian Corp. Class A | New | 0.02% | +0.02 |
| NOW ServiceNow Inc. | 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 |