GLAD
Gladstone Capital
Portfolio Fair Value
$895.04M
104 holdings
Avg Spread
+7.64%
FV-weighted, debt
Avg Coupon
—
FV-weighted
% First Lien
0.3%
of debt FV
Unrealized P/L
-$23.27M
-2.53% of cost
Non-Accrual
3
text-detected
Balance sheet
Assets$922.81M
Liabilities + Equity$922.81M
First Lien
$2.68M · 0.3%
Other Debt
$820.29M · 88.9%
Other Debt
$820.29M · 88.9%
Equity
$76.63M · 8.3%
Other
$3.32M · 0.4%
Cash & Equivalents
$2.92M · 0.3%
Other Assets
$16.98M · 1.8%
Debt (Borrowings)
$405.90M · 44.0%
Debt (Borrowings)
$405.90M · 44.0%
Other Liabilities
$39.59M · 4.3%
Net Assets (Equity)
$477.32M · 51.7%
Net Assets (Equity)
$477.32M · 51.7%
Industry Composition
Healthcare, Education, and Childcare
32.2%
Diversified/Conglomerate Manufacturing
22.4%
Diversified/Conglomerate Service
16.4%
Beverage, Food, and Tobacco
8.7%
Cargo Transportation
5.6%
Home and Office Furnishings, Housewares and Durable Consumer Products
3.3%
Machinery
3.0%
Personal, Food, and Miscellaneous Services
2.5%
Oil and Gas
1.9%
Personal and Non-Durable Consumer Products (Manufacturing Only)
1.5%
Automobile
1.0%
Printing and Publishing
0.6%
Other industries
0.8%
Spread Distribution
2.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
9.5%
10.5%
11.0%
13.5%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
104 of 105
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
RPM Freight Systems, LLC | Cargo Transportation | Term Debt | $50.00M | $49.41M | $591.0K | — | +7.70% | — |
Altior Healthcare, LLC | Healthcare, Education, and Childcare | Term Debt | $46.72M | $46.00M | $724.0K | — | +6.50% | — |
Vet's Choice Radiology LLC | Healthcare, Education, and Childcare | Term Debt | $43.60M | $42.75M | $855.0K | — | +8.00% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Term Debt | $33.84M | $33.82M | $22.0K | — | +6.30% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Term Debt | $32.50M | $32.50M | $0.00 | — | +6.80% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $32.00M | $32.00M | $0.00 | — | +7.50% | — |
ALS Education, LLC | Healthcare, Education, and Childcare | Term Debt | $30.28M | $30.31M | -$35.0K | — | +6.00% | — |
Springfield, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $30.00M | $29.70M | $296.0K | — | +11.10% | — |
Foodservices Brand Group, LLC | Home and Office Furnishings, Housewares and Durable Consumer Products | Term Debt | $29.93M | $30.00M | -$72.0K | — | +6.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Term Debt | $27.40M | $27.40M | $0.00 | — | +7.00% | — |
MASSiv Brands, LLC | Diversified/Conglomerate Service | Term Debt | $25.63M | $25.64M | -$7.0K | — | — | — |
Sicilian Oven Restaurants LLC | Beverage, Food, and Tobacco | Term Debt | $23.89M | $23.89M | $0.00 | — | +6.70% | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Term Debt | $23.12M | $23.00M | $123.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt | $21.75M | $24.39M | -$2.64M | — | +10.50% | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Term Debt | $20.84M | $20.96M | -$119.0K | — | +6.70% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt | $18.42M | $19.84M | -$1.43M | — | +8.00% | — |
Viron International Corp. | Diversified/Conglomerate Manufacturing | Term Debt | $18.35M | $18.38M | -$29.0K | — | +7.00% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $18.13M | $23.42M | -$5.29M | — | +8.30% | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Term Debt | $18.04M | $18.00M | $41.0K | — | +7.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt | $17.66M | $17.63M | $29.0K | — | +6.30% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #1 | $17.50M | $17.50M | $0.00 | — | +13.60% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Term Debt | $17.50M | $17.50M | $0.00 | — | +6.30% | — |
Arc Drilling Holdings LLC | Machinery | Term Debt | $16.06M | $15.90M | $159.0K | — | +7.00% | — |
Freedom Dental Management, Inc. | Healthcare, Education, and Childcare | Term Debt | $15.15M | $15.00M | $150.0K | — | +9.50% | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Line of Credit | $14.50M | $14.50M | $0.00 | — | +7.00% | — |
Imperative Holdings Corporation | Oil and Gas | Term Debt | $14.27M | $14.20M | $65.0K | — | +9.80% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $14.14M | $13.94M | $194.0K | — | +6.50% | — |
Viva Railings, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $13.66M | $13.66M | $0.00 | — | +6.40% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Term Debt | $13.16M | $13.03M | $130.0K | — | — | — |
RF Technologies, LLC | Diversified/Conglomerate Service | Term Debt | $12.67M | $12.60M | $74.0K | — | +6.70% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #1 | $12.32M | $12.20M | $122.0K | — | +9.50% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $11.94M | $12.00M | -$59.0K | — | +6.40% | — |
Wings ‘N More Restaurants LLC | Beverage, Food, and Tobacco | Term Debt | $10.61M | $10.50M | $105.0K | — | +7.30% | — |
Alsay Incorporated | Diversified/Conglomerate Service | Term Debt | $10.00M | $10.00M | $0.00 | — | — | — |
Flexible Technology Solutions, LLC | Diversified/Conglomerate Service | Term Debt | $9.00M | $9.00M | $0.00 | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Term Debt | $8.79M | $8.79M | $0.00 | — | +9.60% | — |
Arc Drilling Holdings LLC | Machinery | Common Stock | $8.61M | $5.33M | $3.27M | — | — | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Preferred Stock | $6.56M | $5.91M | $653.0K | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Term Debt | $6.04M | $9.78M | -$3.74M | — | +10.50% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Common Stock | $5.91M | — | — | — | — | — |
Encore Dredging Holdings, LLC | Diversified/Conglomerate Service | Preferred Stock | $5.81M | $3.84M | $1.97M | — | — | — |
Alsay Incorporated | Diversified/Conglomerate Service | Preferred Stock | $5.47M | $5.00M | $470.0K | — | — | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Common Equity Units | $5.37M | $500.0K | $4.87M | — | — | — |
Tube Bending Technology, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.97M | $5.00M | -$28.0K | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.45M | $4.41M | $41.0K | — | — | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Common Stock | $3.71M | $900.0K | $2.81M | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Stock | $3.44M | $800.0K | $2.63M | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Line of Credit | $3.18M | $5.15M | -$1.97M | — | +10.50% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Preferred Equity | $2.83M | $3.00M | -$173.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #1 | $2.77M | $3.11M | -$337.0K | — | +10.50% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #2 | $2.73M | $2.73M | $0.00 | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $2.73M | $6.00M | -$3.27M | — | +2.00% | — |
Sicilian Oven Restaurants LLC | Beverage, Food, and Tobacco | Preferred Stock | $2.69M | $2.69M | $0.00 | — | — | — |
Imperative Holdings Corporation | Oil and Gas | Preferred Equity Units | $2.46M | $488.0K | $1.97M | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $2.43M | $2.60M | -$175.0K | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Preferred Stock | $2.42M | $2.65M | -$232.0K | — | — | — |
Flexible Technology Solutions, LLC | Diversified/Conglomerate Service | Preferred Stock | $2.25M | $2.25M | $0.00 | — | — | — |
GSM MidCo LLC | Healthcare, Education, and Childcare | Common Stock | $2.19M | $767.0K | $1.42M | — | — | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Common Stock | $2.17M | $8.50M | -$6.33M | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Common Units | $2.16M | $6.75M | -$4.59M | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Common Stock | $1.93M | $250.0K | $1.68M | — | — | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Preferred Stock | $1.91M | $1.50M | $409.0K | — | — | — |
Arc Drilling Holdings LLC | Machinery | Line of Credit | $1.80M | $1.80M | $0.00 | — | +7.00% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Line of Credit | $1.73M | $1.87M | -$142.0K | — | +8.00% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Delayed Draw Term Loan #1 | $1.60M | $1.60M | $0.00 | — | +6.30% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $1.51M | $1.95M | -$440.0K | — | +8.30% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Common Stock | $1.38M | $1.00M | $382.0K | — | — | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Common Stock | $1.37M | $750.0K | $620.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Line of Credit | $1.35M | $1.35M | $0.00 | — | +8.00% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Common Stock | $1.19M | $2.00M | -$808.0K | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Common Units | $1.12M | $1.11M | $13.0K | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Line of Credit | $1.10M | $1.10M | $0.00 | — | +6.30% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #2 | $1.09M | $1.23M | -$133.0K | — | +10.50% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $1.05M | $1.05M | $0.00 | — | +6.50% | — |
GFRC 360, LLC | Buildings and Real Estate | Term Debt | $1.00M | $1.00M | $0.00 | — | +8.00% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $1.00M | $1.00M | $0.00 | — | +7.00% | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Common Equity | $1.00M | $1.00M | $0.00 | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $926.0K | $500.0K | $426.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $600.0K | $1.32M | -$720.0K | — | +2.00% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Common Stock | $539.0K | $532.0K | $7.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Preferred Stock | $531.0K | $1.02M | -$494.0K | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $505.0K | $500.0K | $5.0K | — | +9.50% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #3 | $500.0K | $500.0K | $0.00 | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $468.0K | $6.14M | -$5.67M | — | — | — |
Sea Link International IRB, Inc. | Automobile | Preferred Stock | $271.0K | $98.0K | $173.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Preferred Stock | $206.0K | $75.0K | $131.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $205.0K | $450.0K | -$245.0K | — | +2.00% | — |
Sea Link International IRB, Inc. | Automobile | Common Equity Units | $201.0K | $823.0K | -$622.0K | — | — | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Common Warrant | $186.0K | — | — | — | — | — |
Total Safety Holdings, LLC | Oil and Gas | Common Equity | $22.0K | $499.0K | -$477.0K | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Convertible Debt | $16.0K | $198.0K | -$182.0K | — | — | — |
B+T Group Acquisition, Inc | Telecommunications | Preferred Stock | $0.00 | $2.02M | -$2.02M | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Common Stock | $0.00 | $581.0K | -$581.0K | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Preferred Stock | $0.00 | $5.47M | -$5.47M | — | — | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Common Stock | $0.00 | $3.00M | -$3.00M | — | — | — |
FES Resources Holdings LLC | Oil and Gas | Term Debt | $0.00 | $213.0K | -$213.0K | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Preferred Stock | $0.00 | $500.0K | -$500.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Common Stock | $0.00 | $2.00M | -$2.00M | — | — | — |
Viron International Corp. | Diversified/Conglomerate Manufacturing | Common Stock | $0.00 | $15.0K | -$15.0K | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $0.00 | $2.75M | -$2.75M | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Units | $0.00 | $1.0K | -$1.0K | — | — | — |
Edge Adhesives Holdings, Inc.(L) | — | Term Debt | — | — | — | — | +5.50% | — |
First Citizens Premium Money Market Savings | CASH EQUIVALENTS | Common Equity | — | — | — | 3.25% | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Common Warrants | — | — | — | — | — | — |
Disclosed holdings FV
$902.91M
Parsed holdings FV
$895.04M
Residual gap
$7.87M
Balance-sheet cash
$2.92M
CIK
0001143513
Accession
0001143513-26-000004
Form type
10-Q
Period
2025-12-31