GAIN
Gladstone Investment
Portfolio Fair Value
$979.32M
62 holdings
Avg Spread
+8.45%
FV-weighted, debt
Avg Coupon
13.04%
FV-weighted
% First Lien
0.1%
of debt FV
Unrealized P/L
+$40.25M
+4.29% of cost
Non-Accrual
9
text-detected
Balance sheet
Assets$1.01B
Liabilities + Equity$1.01B
First Lien
$1.07M · 0.1%
Other Debt
$616.84M · 61.3%
Other Debt
$616.84M · 61.3%
Equity
$361.41M · 35.9%
Equity
$361.41M · 35.9%
Cash & Equivalents
$14.30M · 1.4%
Other Assets
$12.79M · 1.3%
Debt (Borrowings)
$455.71M · 45.3%
Debt (Borrowings)
$455.71M · 45.3%
Other Liabilities
$51.61M · 5.1%
Net Assets (Equity)
$499.08M · 49.6%
Net Assets (Equity)
$499.08M · 49.6%
Industry Composition
Diversified/Conglomerate Services
17.4%
Home and Office Furnishings, Housewares, and Durable Consumer Products
16.3%
Aerospace and Defense
11.0%
Machinery (Non-Agriculture, Non-Construction, and Non-Electronic)
10.8%
Leisure, Amusement, Motion Pictures, and Entertainment
8.0%
Electronics
7.3%
Oil and Gas
7.1%
Buildings and Real Estate
7.1%
Healthcare, Education, and Childcare
5.3%
Mining, Steel, Iron and Non-Precious Metals
4.2%
Cargo Transport
1.3%
Printing and Publishing
1.2%
Other industries
3.1%
Spread Distribution
0.5%
1.0%
2.0%
3.0%
4.0%
5.0%
5.5%
6.0%
7.0%
8.0%
8.5%
9.0%
9.5%
10.0%
10.5%
11.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
62 of 62
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
Ricardo Defense, Inc. | Aerospace and Defense | Term Debt | $61.30M | $61.30M | $0.00 | 13.30% | +9.00% | — |
SFEG Holdings, Inc. | Machinery (Non-Agriculture, Non-Construction, and Non-Electronic) | Term Debt | $54.64M | $54.64M | $0.00 | 12.50% | +7.00% | — |
Brunswick Bowling Products, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Preferred Stock | $51.88M | $6.65M | $45.22M | — | — | — |
SFEG Holdings, Inc. | Machinery (Non-Agriculture, Non-Construction, and Non-Electronic) | Common Stock | $50.79M | $30.75M | $20.04M | — | — | — |
Nielsen-Kellerman Acquisition Corp. TL | Electronics | Term Debt | $48.08M | $48.08M | $0.00 | 13.50% | +8.50% | — |
Dema/Mai Holdings, Inc. | Buildings and Real Estate | Term Debt | $38.25M | $38.25M | $0.00 | 15.30% | +11.00% | — |
Old World Christmas, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt | $38.00M | $38.00M | $0.00 | 13.80% | +9.50% | — |
The E3 Company, LLC | Oil and Gas | Preferred Stock | $35.84M | $11.23M | $24.61M | — | — | — |
The E3 Company, LLC | Oil and Gas | Term Debt | $33.75M | $33.75M | $0.00 | 13.50% | +9.00% | — |
Dema/Mai Holdings, Inc. | Buildings and Real Estate | Preferred Equity | $31.07M | $21.00M | $10.07M | — | — | — |
Educators Resource, Inc. | Healthcare, Education, and Childcare | Term Debt | $30.00M | $30.00M | $0.00 | 14.80% | +10.50% | — |
Horizon Facilities Services, Inc. | Diversified/Conglomerate Services | Term Debt | $29.63M | $57.70M | -$28.07M | 6.00% | +0.50% | — |
The Maids International, LLC | Diversified/Conglomerate Services | Term Debt | $28.56M | $28.56M | $0.00 | 14.80% | +10.50% | — |
Schylling, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Term Debt | $27.98M | $27.98M | $0.00 | 15.30% | +11.00% | — |
UPB Acquisition, Inc. | Mining, Steel, Iron and Non-Precious Metals | Preferred Stock | $26.01M | $6.00M | $20.01M | — | — | — |
Mason West, LLC | Diversified/Conglomerate Services | Term Debt | $25.25M | $25.25M | $0.00 | 14.30% | +10.00% | — |
Old World Christmas, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Preferred Stock | $23.54M | — | — | — | — | — |
Nielsen-Kellerman Acquisition Corp. | Electronics | Preferred Stock | $22.42M | $22.17M | $252.0K | — | — | — |
ImageWorks Display and Marketing Group, Inc. | Diversified/Conglomerate Services | Term Debt | $22.00M | $22.00M | $0.00 | 15.30% | +11.00% | — |
Educators Resource, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $21.50M | $8.56M | $12.94M | — | — | — |
Schylling, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Preferred Stock | $20.60M | $4.00M | $16.60M | — | — | — |
Pyrotek Special Effects, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Term Debt | $20.12M | $20.12M | $0.00 | 13.00% | +8.00% | — |
Galaxy Technologies Holdings, Inc. | Aerospace and Defense | Term Debt #2 | $18.80M | $18.80M | $0.00 | 11.30% | +7.00% | — |
Brunswick Bowling Products, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt #1 | $17.70M | $17.70M | $0.00 | 14.30% | +10.00% | — |
Ricardo Defense, Inc. | Aerospace and Defense | Preferred Stock | $17.39M | $17.39M | $0.00 | — | — | — |
J.R. Hobbs Co. - Atlanta, LLC | Diversified/Conglomerate Services | Term Debt #2 | $15.79M | $26.00M | -$10.21M | 14.60% | +10.30% | — |
Utah Pacific Bridge & Steel, Ltd. | Mining, Steel, Iron and Non-Precious Metals | Term Debt | $15.00M | $15.00M | $0.00 | 14.30% | +10.00% | — |
Mason West, LLC | Diversified/Conglomerate Services | Preferred Stock | $13.26M | $11.21M | $2.06M | — | — | — |
ImageWorks Display and Marketing Group, Inc. | Diversified/Conglomerate Services | Preferred Stock | $12.92M | $6.75M | $6.17M | — | — | — |
Diligent Delivery Systems | Cargo Transport | Term Debt | $12.62M | $13.00M | -$376.0K | 13.30% | +9.00% | — |
Ginsey Home Solutions, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt | $12.20M | $12.20M | $0.00 | 14.30% | +10.00% | — |
PSI Molded Plastics, Inc. | Chemicals, Plastics, and Rubber | Term Debt | $10.62M | $10.62M | $0.00 | 7.00% | +1.00% | — |
J.R. Hobbs Co. - Atlanta, LLC | Diversified/Conglomerate Services | Term Debt #1 | $10.02M | $16.50M | -$6.48M | 10.30% | +6.00% | — |
Home Concepts Acquisition, Inc. | Printing and Publishing | Term Debt | $9.28M | $12.00M | -$2.72M | 13.30% | +9.00% | — |
Ginsey Home Solutions, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Preferred Stock | $9.07M | $9.58M | -$513.0K | — | — | — |
The Maids International, LLC | Diversified/Conglomerate Services | Preferred Stock | $8.41M | $6.64M | $1.77M | — | — | — |
Pyrotek Special Effects, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Preferred Stock | $7.26M | $7.06M | $200.0K | — | — | — |
Galaxy Technologies Holdings, Inc. | Aerospace and Defense | Term Debt #1 | $6.90M | $6.90M | $0.00 | 8.40% | +4.10% | — |
Brunswick Bowling Products, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt #2 | $6.85M | $6.85M | $0.00 | 14.30% | +10.00% | — |
Nth Degree Investment Group, LLC | Finance | Common Stock | $4.97M | $5.00M | -$25.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt #1 | $3.58M | $14.00M | -$10.43M | 7.00% | +2.00% | — |
Galaxy Technologies Holdings, Inc. | Aerospace and Defense | Common Stock | $3.48M | $11.51M | -$8.03M | — | — | — |
Phoenix Door Systems, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $3.20M | $3.20M | $0.00 | 7.70% | +3.40% | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $3.08M | $3.08M | $0.00 | 7.00% | +2.00% | — |
J.R. Hobbs Co. - Atlanta, LLC | Diversified/Conglomerate Services | Line of Credit | $3.04M | $5.00M | -$1.96M | 10.30% | +6.00% | — |
Phoenix Door Systems, Inc. | Diversified/Conglomerate Manufacturing | Line of Credit | $2.95M | $2.95M | $0.00 | 5.70% | +1.40% | — |
Pyrotek Special Effects, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Line of Credit | $2.50M | $2.50M | $0.00 | 10.00% | +5.00% | — |
Home Concepts Acquisition, Inc. | Printing and Publishing | Line of Credit | $2.00M | $2.00M | $0.00 | 10.30% | +6.00% | — |
J.R. Hobbs Co. - Atlanta, LLC | Diversified/Conglomerate Services | Term Debt #3 | $1.48M | $2.44M | -$958.0K | 10.30% | +6.00% | — |
Nielsen-Kellerman Acquisition Corp. Line of Credit | Electronics | Secured First Lien Debt | $1.07M | $1.07M | $0.00 | 10.00% | +5.00% | — |
PSI Molded Plastics, Inc. | Chemicals, Plastics, and Rubber | Preferred Stock | $996.0K | $36.13M | -$35.13M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $930.0K | $930.0K | $0.00 | 7.00% | +2.00% | — |
Home Concepts Acquisition, Inc. | Printing and Publishing | Line of Credit #Two | $400.0K | $400.0K | $0.00 | 10.30% | +6.00% | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $343.0K | $9.21M | -$8.87M | 9.80% | +5.50% | — |
B+T Group Acquisition, Inc. | Telecommunications | Preferred Stock | $0.00 | $4.72M | -$4.72M | — | — | — |
Diligent Delivery Systems | Cargo Transport | Common Stock Warrants | $0.00 | $500.0K | -$500.0K | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Preferred Stock | $0.00 | $8.20M | -$8.20M | — | — | — |
Ginsey Home Solutions, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Common Stock | $0.00 | $8.0K | -$8.0K | — | — | — |
Home Concepts Acquisition, Inc. | Printing and Publishing | Preferred Stock | $0.00 | $3.27M | -$3.27M | — | — | — |
J.R. Hobbs Co. – Atlanta, LLC | Diversified/Conglomerate Services | Preferred Stock | $0.00 | $10.92M | -$10.92M | — | — | — |
Phoenix Door Systems, Inc. | Diversified/Conglomerate Manufacturing | Common Stock | $0.00 | $1.83M | -$1.83M | — | — | — |
Horizon Facilities Services, Inc. | Diversified/Conglomerate Services | Preferred Stock | — | — | — | — | — | — |
Disclosed holdings FV
$979.32M
Parsed holdings FV
$979.32M
Residual gap
$0.00
Balance-sheet cash
$14.30M
CIK
0001321741
Accession
0001321741-25-000010
Form type
10-K
Period
2025-03-31