GLAD
Gladstone Capital
Portfolio Fair Value
$714.64M
106 holdings
Avg Spread
+8.05%
FV-weighted, debt
Avg Coupon
—
FV-weighted
% First Lien
4.0%
of debt FV
Unrealized P/L
-$7.63M
-1.06% of cost
Non-Accrual
1
text-detected
Balance sheet
Assets$719.50M
Liabilities + Equity$719.50M
First Lien
$28.04M · 3.9%
Other Debt
$611.45M · 85.0%
Other Debt
$611.45M · 85.0%
LP Interest
$227.8K · 0.0%
Equity
$65.08M · 9.0%
Other
$21.7K · 0.0%
Cash & Equivalents
$1.31M · 0.2%
Other Assets
$13.38M · 1.9%
Debt (Borrowings)
$300.91M · 41.8%
Debt (Borrowings)
$300.91M · 41.8%
Other Liabilities
$9.89M · 1.4%
Net Assets (Equity)
$408.69M · 56.8%
Net Assets (Equity)
$408.69M · 56.8%
Industry Composition
Diversified/Conglomerate Manufacturing
22.1%
Healthcare, Education, and Childcare
20.5%
Diversified/Conglomerate Service
18.9%
Aerospace and Defense
13.7%
Beverage, Food, and Tobacco
11.0%
Oil and Gas
3.9%
Automobile
3.9%
Personal and Non-Durable Consumer Products (Manufacturing Only)
3.4%
Machinery
0.9%
Telecommunications
0.8%
Printing and Publishing
0.6%
Buildings and Real Estate
0.3%
Other industries
0.0%
Spread Distribution
2.0%
5.5%
6.5%
7.0%
7.5%
8.0%
8.5%
9.0%
9.5%
10.0%
10.5%
11.5%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
106 of 117
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Antenna Research Associates, Inc. | Aerospace and Defense | Term Debt | $30.05M | $30.05M | $0.00 | — | +10.00% | — |
SpaceCo Holdings, LLC | Aerospace and Defense | Term Debt | $29.94M | $29.96M | -$17.0K | — | +7.20% | — |
Springfield, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $29.85M | $30.00M | -$150.0K | — | +10.10% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Term Debt | $28.80M | $28.80M | $0.00 | — | — | — |
Pansophic Learning, Ltd. | Healthcare, Education, and Childcare | Term Debt #1 | $27.96M | $27.97M | -$3.0K | — | +7.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Term Debt | $26.00M | $27.15M | -$1.15M | — | +7.00% | — |
Café Zupas | Beverage, Food, and Tobacco | Term Debt | $23.11M | $23.46M | -$352.0K | — | +6.80% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt | $22.66M | $23.00M | -$345.0K | — | +8.00% | — |
ENET Holdings, LLC | Diversified/Conglomerate Service | Term Debt | $21.40M | $22.29M | -$892.0K | — | +8.30% | — |
Imperative Holdings Corporation | Oil and Gas | Term Debt | $20.86M | $20.87M | -$13.0K | — | +9.80% | — |
Viva Railings, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $20.44M | $20.75M | -$311.0K | — | +7.10% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt #1 | $19.80M | $20.00M | -$200.0K | — | +7.50% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $19.73M | $21.50M | -$1.77M | — | +8.30% | — |
ALS Education, LLC | Healthcare, Education, and Childcare | Term Debt | $18.70M | $18.70M | $0.00 | — | +7.00% | — |
Antenna Research Associates, Inc. | Aerospace and Defense | Common Equity Units | $18.44M | $4.28M | $14.15M | — | — | — |
MCG Energy Solutions, LLC | Diversified/Conglomerate Service | Term Debt | $17.63M | $20.11M | -$2.48M | — | +7.60% | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Term Debt | $17.29M | $17.74M | -$444.0K | — | +8.00% | — |
Eegee’s LLC | Beverage, Food, and Tobacco | Term Debt | $16.23M | $17.00M | -$765.0K | — | +7.80% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt #1 | $15.87M | $16.01M | -$141.0K | — | +8.00% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $14.93M | $14.58M | $348.0K | — | +6.50% | — |
Gray Matter Systems, LLC | Diversified/Conglomerate Service | Term Debt | $13.64M | $13.58M | $67.0K | — | — | — |
Leadpoint Business Services, LLC | Diversified/Conglomerate Service | Term Debt | $13.40M | $13.50M | -$101.0K | — | +8.50% | — |
Sokol & Company Holdings, LLC | Beverage, Food, and Tobacco | Term Debt | $13.10M | $13.50M | -$405.0K | — | +7.00% | — |
Fix-It Group, LLC | Diversified/Conglomerate Service | Term Debt | $12.17M | $12.20M | -$30.0K | — | +8.10% | — |
Sea Link International IRB, Inc. | Automobile | Term Debt #1 | $11.68M | $12.05M | -$378.0K | — | — | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt | $11.29M | $11.52M | -$228.0K | — | +8.60% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Term Debt | $10.99M | $11.00M | -$14.0K | — | +7.30% | — |
Salvo Technologies, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $10.90M | $11.77M | -$868.0K | — | +9.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt #1 | $9.99M | $9.97M | $16.0K | — | +8.40% | — |
WB Xcel Holdings | Personal and Non-Durable Consumer Products (Manufacturing Only) | LLC—Term Loan | $9.82M | — | — | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Term Debt | $9.82M | $9.82M | $0.00 | — | +10.50% | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $9.71M | $10.13M | -$418.0K | — | +9.10% | — |
MCG Energy Solutions, LLC | Diversified/Conglomerate Service | Preferred Stock | $8.90M | $7.00M | $1.90M | — | — | — |
Café Zupas | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $7.85M | $7.97M | -$120.0K | — | +6.80% | — |
Defiance Integrated Technologies, Inc. | Automobile | Term Debt | $7.42M | $7.42M | $0.00 | — | +9.60% | — |
Fix-It Group, LLC | Diversified/Conglomerate Service | Delayed Draw Term Loan | $6.89M | $6.91M | -$17.0K | — | +8.10% | — |
Arc Drilling Holdings LLC | Machinery | Term Debt | $5.72M | $5.93M | -$204.0K | — | +11.50% | — |
Trowbridge Chicago, LLC | Diversified/Conglomerate Service | Term Debt | $5.66M | $5.75M | -$86.0K | — | +7.00% | — |
Pansophic Learning, Ltd. | Healthcare, Education, and Childcare | Term Debt #2 | $4.99M | $4.99M | $0.00 | — | +7.50% | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $4.89M | $6.00M | -$1.11M | — | +2.00% | — |
FES Resources Holdings LLC | Oil and Gas | Preferred Equity Units | $4.51M | $6.35M | -$1.84M | — | — | — |
Tailwind Smith Cooper Intermediate Corporation | Diversified/Conglomerate Manufacturing | Term Debt | $4.29M | $4.86M | -$562.0K | — | +9.00% | — |
Encore Dredging Holdings, LLC | Diversified/Conglomerate Service | Preferred Stock | $4.26M | $3.84M | $425.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Term Debt #2 | $4.00M | $4.00M | $0.00 | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Common Stock | $3.95M | $580.0K | $3.37M | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $3.93M | $3.93M | $0.00 | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $3.45M | $2.25M | $1.20M | — | — | — |
DKI Ventures, LLC | Diversified/Conglomerate Service | Term Debt | $3.25M | $5.92M | -$2.66M | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt #2 | $3.20M | $3.23M | -$28.0K | — | +8.00% | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Common Equity Units | $3.07M | $500.0K | $2.57M | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $2.90M | $6.14M | -$3.25M | — | +5.50% | — |
Eegee’s LLC | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $2.87M | $3.00M | -$135.0K | — | +7.80% | — |
CHA Holdings, Inc. | Diversified/Conglomerate Service | Term Debt | $2.82M | $2.97M | -$154.0K | — | +9.00% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Warrant | $2.79M | $19.0K | $2.77M | — | — | — |
8th Avenue Food & Provisions, Inc. | Beverage, Food, and Tobacco | Term Debt | $2.50M | $3.68M | -$1.19M | — | +7.90% | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Stock | $2.40M | $800.0K | $1.60M | — | — | — |
Imperative Holdings Corporation | Oil and Gas | Preferred Equity Units | $2.32M | $488.0K | $1.83M | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $1.99M | $2.01M | -$20.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit | $1.97M | $2.00M | -$30.0K | — | +8.00% | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Common Stock | $1.64M | $250.0K | $1.39M | — | — | — |
Sokol & Company Holdings, LLC | Beverage, Food, and Tobacco | Common Stock | $1.61M | $1.50M | $112.0K | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt #2 | $1.60M | $1.59M | $3.0K | — | +9.30% | — |
GSM MidCo LLC | Healthcare, Education, and Childcare | Common Stock | $1.56M | $767.0K | $795.0K | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Line of Credit | $1.47M | $1.47M | $0.00 | — | +10.50% | — |
SpaceCo Holdings, LLC | Aerospace and Defense | Line of Credit | $1.43M | $1.45M | -$16.0K | — | +7.20% | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Common Stock | $1.42M | $2.00M | -$585.0K | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Line of Credit | $1.35M | $1.36M | -$12.0K | — | +8.00% | — |
Salvo Technologies, Inc. | Diversified/Conglomerate Manufacturing | Preferred Stock | $1.23M | $2.50M | -$1.27M | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Line of Credit | $1.21M | $1.27M | -$70.0K | — | +8.00% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $1.11M | $1.11M | $3.0K | — | +6.50% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Line of Credit | $980.0K | $978.0K | $2.0K | — | +6.50% | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit | $978.0K | $1.20M | -$222.0K | — | +2.00% | — |
GFRC 360, LLC | Buildings and Real Estate | Term Debt | $945.0K | $1.00M | -$55.0K | — | +8.00% | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Line of Credit | $900.0K | $900.0K | $0.00 | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $857.0K | $500.0K | $357.0K | — | — | — |
Trowbridge Chicago, LLC | Diversified/Conglomerate Service | Preferred Stock | $750.0K | $750.0K | $0.00 | — | — | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Common Equity | $680.0K | $1.00M | -$320.0K | — | — | — |
Fix-It Group, LLC | Diversified/Conglomerate Service | Line of Credit | $499.0K | $500.0K | -$1.0K | — | +8.10% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Line of Credit | $499.0K | $500.0K | -$1.0K | — | +7.30% | — |
Arc Drilling Holdings LLC | Machinery | Common Stock | $403.0K | $1.50M | -$1.10M | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Line of Credit | $400.0K | $400.0K | $0.00 | — | +6.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Common Stock | $359.0K | $532.0K | -$173.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Common Equity Units | $340.0K | $823.0K | -$483.0K | — | — | — |
PIC 360, LLC | Machinery | Common Equity Units | $284.0K | $1.0K | $283.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Preferred Stock | $253.0K | $1.02M | -$772.0K | — | — | — |
Leeds Novamark Capital I, L.P. | Healthcare, Education, and Childcare | Limited Partnership Interest | $231.0K | — | — | — | — | — |
Sea Link International IRB, Inc. | Automobile | Preferred Stock | $183.0K | $98.0K | $85.0K | — | — | — |
Total Safety Holdings, LLC | Oil and Gas | Common Equity | $146.0K | $499.0K | -$353.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Preferred Stock | $141.0K | $75.0K | $66.0K | — | — | — |
DKI Ventures, LLC | Diversified/Conglomerate Service | Line of Credit | $113.0K | $205.0K | -$92.0K | — | — | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Common Warrant | $31.0K | — | — | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Convertible Debt | $24.0K | $198.0K | -$174.0K | — | — | — |
Funko Acquisition Holdings, LLC(S) | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Units | $22.0K | $22.0K | $0.00 | — | — | — |
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 | — | — | — |
Frontier Financial Group Inc. | Diversified/Conglomerate Service | Preferred Stock | $0.00 | $500.0K | -$500.0K | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Common Units | $0.00 | $6.75M | -$6.75M | — | — | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Common Stock | $0.00 | $2.00M | -$2.00M | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $0.00 | $2.75M | -$2.75M | — | — | — |
Cafe Zupas | Beverage, Food, and Tobacco | Line of Credit | — | — | — | — | +6.80% | — |
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 | — | — | — | — | — | — |
Disclosed holdings FV
$704.82M
Parsed holdings FV
$714.64M
Residual gap
-$9.82M
Balance-sheet cash
$1.31M
CIK
0001143513
Accession
0001143513-23-000013
Form type
10-K
Period
2023-09-30