GLAD
Gladstone Capital
Portfolio Fair Value
$802.78M
107 holdings
Avg Spread
+7.94%
FV-weighted, debt
Avg Coupon
—
FV-weighted
% First Lien
3.6%
of debt FV
Unrealized P/L
+$31.77M
+4.12% of cost
Non-Accrual
6
text-detected
Balance sheet
Assets$812.47M
Liabilities + Equity$812.47M
First Lien
$28.31M · 3.5%
Other Debt
$641.44M · 78.9%
Other Debt
$641.44M · 78.9%
LP Interest
$37.7K · 0.0%
Equity
$118.36M · 14.6%
Equity
$118.36M · 14.6%
Other
$8.15M · 1.0%
Cash & Equivalents
$2.17M · 0.3%
Other Assets
$14.00M · 1.7%
Debt (Borrowings)
$324.61M · 40.0%
Debt (Borrowings)
$324.61M · 40.0%
Other Liabilities
$16.96M · 2.1%
Net Assets (Equity)
$470.89M · 58.0%
Net Assets (Equity)
$470.89M · 58.0%
Industry Composition
Diversified/Conglomerate Service
22.3%
Diversified/Conglomerate Manufacturing
20.0%
Aerospace and Defense
19.1%
Healthcare, Education, and Childcare
12.7%
Beverage, Food, and Tobacco
11.0%
Automobile
3.5%
Machinery
2.7%
Oil and Gas
2.6%
Cargo Transportation
2.5%
Personal and Non-Durable Consumer Products (Manufacturing Only)
2.5%
Printing and Publishing
0.5%
Telecommunications
0.3%
Other industries
0.3%
Spread Distribution
2.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
10.5%
11.0%
12.5%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
107 of 117
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Antenna Research Associates, Inc. | Aerospace and Defense | Common Equity Units | $59.42M | $4.28M | $55.14M | — | — | — |
SpaceCo Holdings, LLC | Aerospace and Defense | Term Debt | $42.76M | $42.38M | $381.0K | — | +6.40% | — |
ALS Education, LLC | Healthcare, Education, and Childcare | Term Debt | $32.00M | $31.68M | $317.0K | — | +6.80% | — |
Antenna Research Associates, Inc. | Aerospace and Defense | Term Debt | $31.27M | $31.27M | $0.00 | — | +10.00% | — |
Springfield, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $30.00M | $30.00M | $0.00 | — | +11.10% | — |
Café Zupas | Beverage, Food, and Tobacco | Term Debt | $26.51M | $26.07M | $439.0K | — | +7.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Term Debt | $26.35M | $27.52M | -$1.17M | — | +7.00% | — |
Leadpoint Business Services, LLC | Diversified/Conglomerate Service | Term Debt | $26.01M | $25.48M | $535.0K | — | +8.50% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt | $23.33M | $23.16M | $169.0K | — | +8.00% | — |
ENET Holdings, LLC | Diversified/Conglomerate Service | Term Debt | $21.97M | $22.29M | -$316.0K | — | +7.30% | — |
MCG Energy Solutions, LLC | Diversified/Conglomerate Service | Term Debt | $20.29M | $20.26M | $26.0K | — | +7.60% | — |
Viva Railings, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $20.20M | $20.20M | $0.00 | — | +7.10% | — |
RPM Freight Systems, LLC | Cargo Transportation | Term Debt | $20.20M | $20.00M | $200.0K | — | +7.70% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $19.28M | $22.23M | -$2.95M | — | +8.30% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt #1 | $18.68M | $18.50M | $185.0K | — | +7.50% | — |
Imperative Holdings Corporation | Oil and Gas | Term Debt | $18.02M | $17.91M | $106.0K | — | +9.80% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Term Debt | $17.50M | $17.50M | $0.00 | — | +7.30% | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Term Debt | $16.56M | $16.56M | $0.00 | — | +8.00% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt #1 | $16.31M | $16.29M | $20.0K | — | +6.50% | — |
Arc Drilling Holdings LLC | Machinery | Term Debt | $16.00M | $16.00M | $0.00 | — | +7.00% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt #1 | $15.40M | $15.85M | -$453.0K | — | +8.00% | — |
Perimeter Solutions Group | Diversified/Conglomerate Service | Term Debt | $15.00M | $15.00M | $0.00 | — | +8.50% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $14.88M | $14.49M | $391.0K | — | +6.50% | — |
Eegee’s LLC | Beverage, Food, and Tobacco | Term Debt | $13.49M | $17.82M | -$4.34M | — | +7.80% | — |
Fix-It Group, LLC | Diversified/Conglomerate Service | Term Debt | $13.46M | $13.32M | $133.0K | — | +7.10% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Term Debt | $13.39M | $13.00M | $390.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Term Debt #1 | $12.33M | $12.31M | $17.0K | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt | $12.27M | $12.13M | $137.0K | — | +9.50% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #1 | $11.36M | $11.30M | $56.0K | — | +9.60% | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $10.85M | $10.69M | $157.0K | — | +9.10% | — |
MCG Energy Solutions, LLC | Diversified/Conglomerate Service | Preferred Stock | $9.95M | $7.00M | $2.95M | — | — | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Preferred Equity | $9.45M | $7.00M | $2.45M | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Term Debt | $8.55M | $8.55M | $0.00 | — | +9.60% | — |
Sokol & Company Holdings, LLC | Beverage, Food, and Tobacco | Term Debt | $8.50M | $8.50M | $0.00 | — | +6.80% | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Common Units | $8.21M | $6.75M | $1.46M | — | — | — |
Café Zupas | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $7.42M | $7.35M | $74.0K | — | +7.50% | — |
Fix-It Group, LLC | Diversified/Conglomerate Service | Delayed Draw Term Loan | $6.78M | $6.78M | $0.00 | — | +7.10% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Term Debt | $6.70M | $6.50M | $195.0K | — | +6.90% | — |
WB Xcel Holdings | Personal and Non-Durable Consumer Products (Manufacturing Only) | LLC—Term Loan | $6.53M | — | — | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Term Debt | $6.53M | $9.78M | -$3.25M | — | +10.50% | — |
Arc Drilling Holdings LLC | Machinery | Common Stock | $4.82M | $5.33M | -$517.0K | — | — | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Common Equity Units | $4.31M | $500.0K | $3.81M | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.20M | $4.13M | $70.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Term Debt #2 | $4.08M | $4.08M | $0.00 | — | — | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Warrant | $4.00M | — | — | — | — | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Preferred Equity | $3.58M | $3.00M | $582.0K | — | — | — |
8th Avenue Food & Provisions, Inc. | Beverage, Food, and Tobacco | Term Debt | $3.24M | $3.68M | -$442.0K | — | +7.90% | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Line of Credit | $3.17M | $4.75M | -$1.58M | — | +10.50% | — |
Encore Dredging Holdings, LLC | Diversified/Conglomerate Service | Preferred Stock | $3.17M | $3.84M | -$672.0K | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt #2 | $3.10M | $3.19M | -$91.0K | — | +8.00% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #2 | $3.01M | $2.92M | $83.0K | — | +12.60% | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Stock | $2.96M | $800.0K | $2.16M | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Common Stock | $2.95M | $581.0K | $2.37M | — | — | — |
Sokol & Company Holdings, LLC | Beverage, Food, and Tobacco | Common Stock | $2.73M | $1.50M | $1.23M | — | — | — |
DKI Ventures, LLC | Diversified/Conglomerate Service | Term Debt | $2.68M | $5.92M | -$3.23M | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt #2 | $2.41M | $2.40M | $3.0K | — | +7.50% | — |
Eegee’s LLC | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $2.38M | $3.15M | -$765.0K | — | +7.80% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $2.30M | $2.16M | $144.0K | — | — | — |
Imperative Holdings Corporation | Oil and Gas | Preferred Equity Units | $2.27M | $488.0K | $1.79M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $2.14M | $6.00M | -$3.86M | — | +2.00% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit | $2.01M | $2.00M | $8.0K | — | +8.00% | — |
SpaceCo Holdings, LLC | Aerospace and Defense | Line of Credit | $2.00M | $2.00M | $0.00 | — | +6.40% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Line of Credit | $1.68M | $1.73M | -$50.0K | — | +8.00% | — |
GSM MidCo LLC | Healthcare, Education, and Childcare | Common Stock | $1.58M | $767.0K | $816.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Line of Credit | $1.35M | $1.35M | $0.00 | — | +8.00% | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Common Stock | $1.35M | $250.0K | $1.10M | — | — | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Common Equity | $1.23M | $750.0K | $484.0K | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Line of Credit | $1.20M | $1.20M | $0.00 | — | +6.50% | — |
Eegee’s LLC | Beverage, Food, and Tobacco | Line of Credit | $1.14M | $1.50M | -$365.0K | — | +7.80% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $1.11M | $1.10M | $11.0K | — | +6.50% | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Common Equity | $1.09M | $1.00M | $86.0K | — | — | — |
Cafe Zupas | Beverage, Food, and Tobacco | Line of Credit | $1.06M | $1.05M | $11.0K | — | +7.50% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $1.05M | $2.25M | -$1.20M | — | — | — |
Arc Drilling Holdings LLC | Machinery | Line of Credit | $1.00M | $1.00M | $0.00 | — | +7.00% | — |
GFRC 360, LLC | Buildings and Real Estate | Term Debt | $1.00M | $1.00M | $0.00 | — | +8.00% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Line of Credit | $978.0K | $978.0K | $0.00 | — | +6.50% | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $931.0K | $500.0K | $431.0K | — | — | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Common Stock | $859.0K | $2.00M | -$1.14M | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Preferred Stock | $552.0K | $2.65M | -$2.10M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $471.0K | $1.32M | -$849.0K | — | +2.00% | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $380.0K | $6.14M | -$5.76M | — | +5.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Common Stock | $346.0K | $532.0K | -$186.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Preferred Stock | $220.0K | $98.0K | $122.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Preferred Stock | $167.0K | $75.0K | $92.0K | — | — | — |
FES Resources Holdings LLC | Oil and Gas | Term Debt | $163.0K | $325.0K | -$162.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Common Equity Units | $160.0K | $823.0K | -$663.0K | — | — | — |
DKI Ventures, LLC | Diversified/Conglomerate Service | Line of Credit | $159.0K | $350.0K | -$191.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $115.0K | $323.0K | -$208.0K | — | +2.00% | — |
Total Safety Holdings, LLC | Oil and Gas | Common Equity | $101.0K | $499.0K | -$398.0K | — | — | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Common Warrant | $47.0K | — | — | — | — | — |
Leeds Novamark Capital I, L.P. | Healthcare, Education, and Childcare | Limited Partnership Interest | $38.0K | — | — | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Common Stock | $34.0K | $2.00M | -$1.97M | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Convertible Debt | $32.0K | $198.0K | -$166.0K | — | — | — |
B+T Group Acquisition, Inc.(S) | Telecommunications | Preferred Stock | $0.00 | $2.02M | -$2.02M | — | — | — |
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 | Preferred Equity Units | $0.00 | $6.35M | -$6.35M | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Preferred Stock | $0.00 | $500.0K | -$500.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Preferred Stock | $0.00 | $1.02M | -$1.02M | — | — | — |
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 Warrant | $0.00 | $1.0K | -$1.0K | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Preferred Stock | — | — | — | — | — | — |
FES Resources Holdings LLC | Oil and Gas | Common Equity Units | — | — | — | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Preferred Stock Warrant | — | — | — | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Common Units | — | — | — | — | — | — |
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
$796.30M
Parsed holdings FV
$802.78M
Residual gap
-$6.49M
Balance-sheet cash
$2.17M
CIK
0001143513
Accession
0001143513-24-000011
Form type
10-K
Period
2024-09-30