2026 Q1 Portfolio Activity
In 2026 Q1, Gladstone Capital Management LLP maintained a portfolio of 35 distinct positions. The most significant new addition was Visa Inc, now representing 6.92% of the total fund value. They heavily accumulated shares in Taiwan Semiconductor Manufactu, increasing the position by 1107.5%. The fund also reduced its exposure to Broadcom Inc by 69.1%.
Position History
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Total Positions
35
Quarter
2026 Q1
Top Holding
GOOGL (18.0%)
Top 10 Concentration
89.9%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-35 of 35
Gladstone Capital Management LLP Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
GOOGL
Alphabet Inc
|
Communication Services | 18.04% | 19.25% |
#1
Prev: #1
|
6.5 |
—
|
28,826 | 4.8% |
P
S
|
624,783 | $179,662,599 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PWR
Quanta Services...
|
Industrials | 12.58% | 7.88% |
#2
3
Prev: #5
|
8.0 |
—
|
47,296 | 26.1% |
P
S
|
228,277 | $125,328,639 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RTX
RTX Corp
|
Industrials | 11.67% | 12.32% |
#3
1
Prev: #2
|
5.5 |
—
|
-48,502 | -7.5% |
P
S
|
602,463 | $116,215,113 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MSFT
Microsoft Corp
|
Technology | 9.58% | 11.91% |
#4
1
Prev: #3
|
6.3 |
—
|
19,119 | 8.0% |
P
S
|
257,826 | $95,439,450 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
APG
Api Group Corp
|
Industrials | 7.51% | 8.61% |
#5
1
Prev: #4
|
4.0 |
—
|
-335,411 | -15.4% |
P
S
|
1,846,147 | $74,805,876 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TSM
Taiwan Semicond...
|
Technology | 7.32% | 0.56% |
#6
9
Prev: #15
|
5.9 |
—
|
197,803 | 1107.5% |
P
S
|
215,663 | $72,883,311 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
V
Visa Inc
|
Financial Services | 6.92% | — |
#7
Prev: #—
|
6.3 |
—
|
228,010 | — |
NEW
|
228,010 | $68,913,742 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PM
Philip Morris I...
|
Consumer Defensive | 6.71% | 6.75% |
#8
Prev: #8
|
3.2 |
—
|
-3,368 | -0.8% |
P
S
|
404,274 | $66,842,663 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GLW
Corning Inc
|
Technology | 4.87% | — |
#9
Prev: #—
|
5.4 |
—
|
356,933 | — |
NEW
|
356,933 | $48,532,180 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ACGL
Arch Capital Gr...
|
Financial Services | 4.65% | 7.43% |
#10
3
Prev: #7
|
1.9 |
—
|
-268,311 | -35.7% |
P
S
|
482,222 | $46,288,490 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DOCN
DigitalOcean Ho...
|
Technology | 4.28% | — |
#11
Prev: #—
|
5.2 |
—
|
496,702 | — |
NEW
|
496,702 | $42,607,098 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AVGO
Broadcom Inc
|
Technology | 2.05% | 7.61% |
#12
6
Prev: #6
|
0.8 |
—
|
-147,241 | -69.1% |
P
S
|
65,825 | $20,373,496 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LHX
L3HARRIS Techno...
|
Industrials | 1.38% | — |
#13
Prev: #—
|
4.1 |
—
|
39,755 | — |
NEW
|
39,755 | $13,721,438 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
XYZ
Block Inc
|
Technology | 1.16% | 3.46% |
#14
3
Prev: #11
|
0.5 |
—
|
-322,421 | -62.6% |
P
S
|
192,507 | $11,585,071 | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GE
General Electri...
|
Industrials | 0.46% | 0.05% |
#15
4
Prev: #19
|
3.2 |
—
|
14,755 | 953.2% |
P
S
|
16,303 | $4,626,302 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LIN
Linde PLC
|
Basic Materials | 0.43% | — |
#16
Prev: #—
|
3.7 |
—
|
8,600 | — |
NEW
|
8,600 | $4,263,536 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ICE
Intercontinenta...
|
Financial Services | 0.13% | 0.00% |
#17
9
Prev: #26
|
3.1 |
—
|
8,200 | 8200.0% |
P
S
|
8,300 | $1,305,424 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LULU
Lululemon Athel...
|
Consumer Cyclical | 0.07% | 0.07% |
#18
1
Prev: #17
|
1.0 |
—
|
no change | no change |
P
S
|
3,300 | $685,773 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ABNB
Airbnb Inc
|
Consumer Cyclical | 0.05% | 2.93% |
#19
7
Prev: #12
|
0.0 |
—
|
-205,543 | -98.3% |
P
S
|
3,557 | $449,178 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
FIG
Figma Inc
|
Technology | 0.04% | 0.07% |
#20
2
Prev: #18
|
1.0 |
—
|
no change | no change |
P
S
|
17,081 | $361,092 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SNOW
Snowflake Inc
|
Technology | 0.02% | 3.82% |
#21
11
Prev: #10
|
0.0 |
—
|
-167,494 | -99.1% |
P
S
|
1,508 | $227,437 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CBRE
Capital One Fin...
|
Real Estate | 0.02% | 1.95% |
#22
9
Prev: #13
|
0.0 |
—
|
-77,097 | -98.7% |
P
S
|
1,000 | $182,430 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARM
Arm Holdings PL...
|
Technology | 0.02% | 0.01% |
#23
Prev: #23
|
1.0 |
—
|
no change | no change |
P
S
|
1,000 | $151,280 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DASH
DoorDash Inc
|
Consumer Cyclical | 0.02% | 0.73% |
#24
10
Prev: #14
|
0.0 |
—
|
-30,397 | -96.8% |
P
S
|
1,000 | $150,150 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NVDA
NVIDIA Corp
|
Technology | 0.01% | 0.02% |
#25
5
Prev: #20
|
0.0 |
—
|
-271 | -27.1% |
P
S
|
729 | $127,138 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
LITE
Lumentum Holdin...
|
Technology | 0.01% | — |
#26
Prev: #—
|
3.5 |
—
|
100 | — |
NEW
|
100 | $70,276 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MDLZ
Mondelez Intern...
|
Consumer Defensive | 0.01% | — |
#27
Prev: #—
|
3.5 |
—
|
1,000 | — |
NEW
|
1,000 | $57,640 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TSLA
Tesla Inc
|
Consumer Cyclical | 0.00% | 0.00% |
#28
4
Prev: #24
|
1.0 |
—
|
no change | no change |
P
S
|
100 | $37,175 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AMZN
Amazon.com Inc
|
Consumer Cyclical | 0.00% | 0.07% |
#29
13
Prev: #16
|
0.0 |
—
|
-2,900 | -96.7% |
P
S
|
100 | $20,827 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WING
Wingstop Inc
|
Consumer Cyclical | 0.00% | 0.00% |
#30
5
Prev: #25
|
1.0 |
—
|
no change | no change |
P
S
|
100 | $15,497 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KEY
KeyCorp
|
Financial Services | 0.00% | 0.00% |
#31
4
Prev: #27
|
1.0 |
—
|
no change | no change |
P
S
|
698 | $13,995 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NKE
Nike Inc
|
Consumer Cyclical | 0.00% | 0.00% |
#32
4
Prev: #28
|
1.0 |
—
|
no change | no change |
P
S
|
4 | $211 | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BABA
Alibaba Group H...
|
Consumer Cyclical | 0.00% | 0.01% |
Sold All 😨
(Was: #22) |
0.0 |
—
|
-900 | -100.0% |
CLOSED
|
— | $— | 2016 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TEAM
Atlassian Corp
|
Technology | 0.00% | 0.02% |
Sold All 😨
(Was: #21) |
0.0 |
—
|
-1,000 | -100.0% |
CLOSED
|
— | $— | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
META
Meta Platforms ...
|
Communication Services | 0.00% | 4.47% |
Sold All 😨
(Was: #9) |
0.0 |
—
|
-58,974 | -100.0% |
CLOSED
|
— | $— | 2015 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-35 of 35 holdings