GLAD
Gladstone Capital
Portfolio Fair Value
$853.73M
109 holdings
Avg Spread
+7.67%
FV-weighted, debt
Avg Coupon
—
FV-weighted
% First Lien
0.3%
of debt FV
Unrealized P/L
-$17.52M
-2.01% of cost
Non-Accrual
1
text-detected
Balance sheet
Assets$907.60M
Liabilities + Equity$907.60M
First Lien
$2.68M · 0.3%
Other Debt
$775.11M · 85.4%
Other Debt
$775.11M · 85.4%
LP Interest
$36.2K · 0.0%
Equity
$75.91M · 8.4%
Other
$5.37M · 0.6%
Cash & Equivalents
$596.0K · 0.1%
Other Assets
$47.90M · 5.3%
Debt (Borrowings)
$397.86M · 43.8%
Debt (Borrowings)
$397.86M · 43.8%
Other Liabilities
$27.71M · 3.1%
Net Assets (Equity)
$482.04M · 53.1%
Net Assets (Equity)
$482.04M · 53.1%
Industry Composition
Healthcare, Education, and Childcare
32.0%
Diversified/Conglomerate Manufacturing
23.7%
Diversified/Conglomerate Service
17.8%
Beverage, Food, and Tobacco
6.4%
Home and Office Furnishings, Housewares and Durable Consumer Products
3.5%
Automobile
3.2%
Machinery
3.1%
Personal, Food, and Miscellaneous Services
2.8%
Cargo Transportation
2.3%
Oil and Gas
2.1%
Personal and Non-Durable Consumer Products (Manufacturing Only)
1.6%
Printing and Publishing
0.7%
Other industries
0.8%
Spread Distribution
2.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.5%
10.0%
10.5%
11.0%
11.5%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
109 of 118
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Altior Healthcare, LLC | Healthcare, Education, and Childcare | Term Debt | $46.92M | $46.00M | $920.0K | — | +6.50% | — |
Vet's Choice Radiology LLC | Healthcare, Education, and Childcare | Term Debt | $43.10M | $42.75M | $348.0K | — | +8.00% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Term Debt | $35.25M | $34.86M | $393.0K | — | +6.30% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $32.00M | $32.00M | $0.00 | — | +7.50% | — |
ALS Education, LLC | Healthcare, Education, and Childcare | Term Debt | $30.36M | $30.31M | $50.0K | — | +6.00% | — |
Foodservices Brand Group, LLC | Home and Office Furnishings, Housewares and Durable Consumer Products | Term Debt | $30.00M | $30.00M | $0.00 | — | +6.50% | — |
Springfield, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $30.00M | $30.00M | $0.00 | — | +11.10% | — |
Leadpoint Business Services, LLC | Diversified/Conglomerate Service | Term Debt | $28.40M | $28.12M | $281.0K | — | +8.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Term Debt | $27.46M | $27.46M | $0.00 | — | +7.00% | — |
MASSiv Brands, LLC | Diversified/Conglomerate Service | Term Debt | $25.31M | $25.31M | $0.00 | — | — | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Term Debt | $23.13M | $23.00M | $129.0K | — | — | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Term Debt | $22.20M | $22.20M | $0.00 | — | +6.70% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt | $21.35M | $24.11M | -$2.76M | — | +10.50% | — |
RPM Freight Systems, LLC | Cargo Transportation | Term Debt | $20.00M | $20.00M | $0.00 | — | +7.70% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt | $18.58M | $19.80M | -$1.23M | — | +10.00% | — |
Viron International Corp. | Diversified/Conglomerate Manufacturing | Term Debt | $18.48M | $18.38M | $92.0K | — | +7.00% | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Term Debt | $18.18M | $18.00M | $184.0K | — | +7.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt | $17.81M | $17.78M | $36.0K | — | +6.50% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $17.56M | $23.16M | -$5.60M | — | +8.30% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Term Debt | $17.50M | $17.50M | $0.00 | — | +7.30% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #1 | $16.20M | $16.77M | -$574.0K | — | +11.60% | — |
Arc Drilling Holdings LLC | Machinery | Term Debt | $16.16M | $16.00M | $160.0K | — | +6.80% | — |
Freedom Dental Management, Inc. | Healthcare, Education, and Childcare | Term Debt | $15.30M | $15.00M | $300.0K | — | +7.30% | — |
Imperative Holdings Corporation | Oil and Gas | Term Debt | $15.02M | $14.94M | $72.0K | — | +9.80% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $14.32M | $14.11M | $219.0K | — | +6.50% | — |
Viva Railings, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $13.88M | $13.88M | $0.00 | — | +6.40% | — |
Sea Link International IRB, Inc. | Automobile | Term Debt #1 | $13.87M | $13.72M | $145.0K | — | — | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Term Debt | $13.27M | $13.01M | $261.0K | — | — | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Line of Credit | $12.75M | $12.75M | $0.00 | — | +7.00% | — |
RF Technologies, LLC | Diversified/Conglomerate Service | Term Debt | $12.73M | $12.60M | $135.0K | — | +6.30% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $12.00M | $12.00M | $0.00 | — | +6.40% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #1 | $11.64M | $11.53M | $116.0K | — | +9.50% | — |
Wings ‘N More Restaurants LLC | Beverage, Food, and Tobacco | Term Debt | $10.71M | $10.50M | $210.0K | — | +6.80% | — |
Alsay Incorporated | Diversified/Conglomerate Service | Term Debt | $10.00M | $10.00M | $0.00 | — | — | — |
Arc Drilling Holdings LLC | Machinery | Common Stock | $9.10M | $5.33M | $3.76M | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Term Debt | $8.79M | $8.79M | $0.00 | — | — | — |
Encore Dredging Holdings, LLC | Diversified/Conglomerate Service | Preferred Stock | $6.91M | $3.84M | $3.07M | — | — | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Term Debt | $6.50M | $6.50M | $0.00 | — | +6.50% | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Preferred Stock | $6.29M | $5.91M | $376.0K | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Term Debt | $6.00M | $9.78M | -$3.78M | — | +10.50% | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Common Equity Units | $5.81M | $500.0K | $5.31M | — | — | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Common Stock | $5.33M | — | — | — | — | — |
Alsay Incorporated | Diversified/Conglomerate Service | Preferred Stock | $5.00M | $5.00M | $0.00 | — | — | — |
Tube Bending Technology, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.96M | $5.00M | -$45.0K | — | — | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Common Stock | $4.86M | $8.50M | -$3.64M | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.45M | $4.40M | $47.0K | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Common Units | $4.22M | $6.75M | -$2.52M | — | — | — |
Sea Link International IRB, Inc. | Automobile | Term Debt #2 | $4.16M | $4.16M | $0.00 | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Stock | $3.70M | $800.0K | $2.90M | — | — | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Common Stock | $3.33M | $900.0K | $2.43M | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Line of Credit | $3.16M | $5.15M | -$1.99M | — | +10.50% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #1 | $2.72M | $3.08M | -$353.0K | — | +10.50% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Preferred Equity | $2.72M | $3.00M | -$280.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $2.54M | $6.00M | -$3.46M | — | +2.00% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #2 | $2.51M | $2.60M | -$89.0K | — | — | — |
Imperative Holdings Corporation | Oil and Gas | Preferred Equity Units | $2.45M | $488.0K | $1.96M | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $2.44M | $2.32M | $120.0K | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Preferred Stock | $2.38M | $2.65M | -$273.0K | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $2.29M | $2.60M | -$314.0K | — | — | — |
Sokol & Company Holdings, LLC | Beverage, Food, and Tobacco | Common Stock | $2.24M | $450.0K | $1.79M | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Common Stock | $2.15M | $250.0K | $1.90M | — | — | — |
GSM MidCo LLC | Healthcare, Education, and Childcare | Common Stock | $1.98M | $767.0K | $1.21M | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Line of Credit | $1.74M | $1.86M | -$122.0K | — | +10.00% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Delayed Draw Term Loan | $1.60M | $1.60M | $0.00 | — | +6.50% | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Preferred Stock | $1.50M | $1.50M | $0.00 | — | — | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Common Stock | $1.50M | $750.0K | $750.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Line of Credit | $1.35M | $1.35M | $0.00 | — | +8.00% | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Common Equity | $1.18M | $1.00M | $184.0K | — | — | — |
Arc Drilling Holdings LLC | Machinery | Line of Credit | $1.13M | $1.13M | $0.00 | — | +6.80% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Common Units | $1.11M | $1.11M | $0.00 | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Line of Credit | $1.10M | $1.10M | $0.00 | — | +6.50% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #2 | $1.07M | $1.21M | -$140.0K | — | +10.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Common Stock | $1.07M | $2.00M | -$933.0K | — | — | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $1.07M | $1.07M | $0.00 | — | +6.50% | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $1.01M | $500.0K | $506.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Term Debt | $1.00M | $1.00M | $0.00 | — | +8.00% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Common Stock | $1.00M | $1.00M | $0.00 | — | — | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $834.0K | $1.10M | -$266.0K | — | +8.30% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Line of Credit | $589.0K | $589.0K | $0.00 | — | +6.50% | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $559.0K | $1.32M | -$761.0K | — | +2.00% | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $513.0K | $6.14M | -$5.63M | — | +5.50% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $505.0K | $500.0K | $5.0K | — | +9.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Common Stock | $457.0K | $532.0K | -$75.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Common Equity Units | $277.0K | $823.0K | -$546.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Preferred Stock | $261.0K | $98.0K | $163.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Preferred Stock | $214.0K | $1.02M | -$811.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Preferred Stock | $197.0K | $75.0K | $122.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $191.0K | $450.0K | -$259.0K | — | +2.00% | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Common Warrant | $186.0K | — | — | — | — | — |
Total Safety Holdings, LLC | Oil and Gas | Common Equity | $47.0K | $499.0K | -$452.0K | — | — | — |
Leeds Novamark Capital I, L.P. | Healthcare, Education, and Childcare | Limited Partnership Interest | $36.0K | — | — | — | — | — |
Antenna Research Associates, Inc. | — | Term Debt | $17.0K | $198.0K | -$181.0K | — | — | — |
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 | $325.0K | -$325.0K | — | — | — |
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 | — | — | — |
Control Investment - Technical Resource Management, LLC | Healthcare, Education, and Childcare | Common Stock | — | — | — | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Common Stock | — | — | — | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Preferred Stock | — | — | — | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Preferred Stock Warrant | — | — | — | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Common Warrants | — | — | — | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | — | — | — | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Warrant | — | — | — | — | — | — |
Disclosed holdings FV
$859.10M
Parsed holdings FV
$853.73M
Residual gap
$5.37M
Balance-sheet cash
$596.0K
CIK
0001143513
Accession
0001143513-25-000015
Form type
10-K
Period
2025-09-30