GLAD
Gladstone Capital
Portfolio Fair Value
$899.06M
108 holdings
Avg Spread
+7.61%
FV-weighted, debt
Avg Coupon
—
FV-weighted
% First Lien
0.4%
of debt FV
Unrealized P/L
-$18.35M
-2.00% of cost
Non-Accrual
8
text-detected
Balance sheet
Assets$925.07M
Liabilities + Equity$925.07M
First Lien
$3.46M · 0.4%
Other Debt
$816.81M · 88.3%
Other Debt
$816.81M · 88.3%
Equity
$82.07M · 8.9%
Other
$4.50M · 0.5%
Cash & Equivalents
$216.0K · 0.0%
Other Assets
$18.01M · 1.9%
Debt (Borrowings)
$392.92M · 42.5%
Debt (Borrowings)
$392.92M · 42.5%
Other Liabilities
$49.54M · 5.4%
Net Assets (Equity)
$482.61M · 52.2%
Net Assets (Equity)
$482.61M · 52.2%
Industry Composition
Healthcare, Education, and Childcare
27.3%
Diversified/Conglomerate Manufacturing
24.3%
Diversified/Conglomerate Service
16.4%
Beverage, Food, and Tobacco
10.0%
Cargo Transportation
5.6%
Home and Office Furnishings, Housewares and Durable Consumer Products
3.3%
Machinery
2.9%
Personal, Food, and Miscellaneous Services
2.5%
Ecological
2.0%
Oil and Gas
1.8%
Personal and Non-Durable Consumer Products (Manufacturing Only)
1.6%
Automobile
1.0%
Other industries
1.3%
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
108 of 109
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
RPM Freight Systems, LLC | Cargo Transportation | Term Debt | $49.93M | $49.44M | $489.0K | — | +7.70% | — |
Altior Healthcare, LLC | Healthcare, Education, and Childcare | Term Debt | $46.92M | $46.00M | $920.0K | — | +6.50% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Term Debt | $34.39M | $33.83M | $565.0K | — | +6.00% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Term Debt | $32.74M | $32.50M | $237.0K | — | +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 | $30.36M | $30.32M | $43.0K | — | +6.30% | — |
Springfield, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $30.00M | $29.71M | $288.0K | — | +11.10% | — |
Foodservices Brand Group, LLC | Home and Office Furnishings, Housewares and Durable Consumer Products | Term Debt | $29.88M | $29.81M | $69.0K | — | +6.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Term Debt | $27.33M | $27.33M | $0.00 | — | +7.00% | — |
MASSiv Brands, LLC | Diversified/Conglomerate Service | Term Debt | $25.27M | $25.96M | -$689.0K | — | — | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Term Debt | $24.30M | $24.30M | $0.00 | — | +7.50% | — |
Sicilian Oven Restaurants LLC | Beverage, Food, and Tobacco | Term Debt | $24.13M | $23.77M | $360.0K | — | +6.70% | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Term Debt | $22.51M | $23.00M | -$494.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt | $21.00M | $24.66M | -$3.67M | — | +10.50% | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Term Debt | $20.75M | $20.91M | -$152.0K | — | +6.70% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $18.77M | $23.66M | -$4.89M | — | +8.30% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt | $18.65M | $19.88M | -$1.23M | — | +9.50% | — |
Viron International Corp. | Diversified/Conglomerate Manufacturing | Term Debt | $18.35M | $18.38M | -$30.0K | — | +7.00% | — |
Clean Water Environmental Services, Inc. | Ecological | Term Debt | $18.00M | $18.00M | $0.00 | — | +7.30% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Term Debt | $17.85M | $17.50M | $350.0K | — | +6.30% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #1 | $17.73M | $17.73M | $0.00 | — | +13.60% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt | $17.51M | $17.51M | $0.00 | — | +6.50% | — |
Arc Drilling Holdings LLC | Machinery | Term Debt | $15.96M | $15.80M | $158.0K | — | +7.00% | — |
Freedom Dental Management, Inc. | Healthcare, Education, and Childcare | Term Debt | $15.15M | $15.00M | $150.0K | — | +7.50% | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Line of Credit | $15.10M | $15.10M | $0.00 | — | +7.00% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $13.95M | $13.78M | $169.0K | — | +6.50% | — |
Viva Railings, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $13.55M | $13.55M | $0.00 | — | +6.40% | — |
Imperative Holdings Corporation | Oil and Gas | Term Debt | $13.52M | $13.46M | $57.0K | — | +9.80% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Term Debt | $13.19M | $13.06M | $131.0K | — | — | — |
RF Technologies, LLC | Diversified/Conglomerate Service | Term Debt | $12.36M | $12.60M | -$238.0K | — | +6.70% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #1 | $12.09M | $12.53M | -$438.0K | — | +9.50% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $11.94M | $12.00M | -$60.0K | — | +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 | — | — | — |
Incodema3D Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $10.00M | $10.00M | $0.00 | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Term Debt | $8.79M | $8.79M | $0.00 | — | +9.60% | — |
Flexible Technology Solutions, LLC | Diversified/Conglomerate Service | Term Debt | $8.75M | $9.00M | -$253.0K | — | — | — |
Arc Drilling Holdings LLC | Machinery | Common Stock | $8.52M | $5.33M | $3.19M | — | — | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Common Stock | $7.78M | $115.0K | $7.66M | — | — | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Preferred Stock | $6.54M | $5.91M | $629.0K | — | — | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Common Stock | $6.50M | — | — | — | — | — |
Encore Dredging Holdings, LLC | Diversified/Conglomerate Service | Preferred Stock | $6.25M | $3.84M | $2.41M | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Term Debt | $6.05M | $9.78M | -$3.73M | — | +10.50% | — |
IMX Power Holdings Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $6.00M | $6.00M | $0.00 | — | — | — |
Alsay Incorporated | Diversified/Conglomerate Service | Preferred Stock | $5.47M | $5.00M | $472.0K | — | — | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Common Equity Units | $5.16M | $500.0K | $4.66M | — | — | — |
Tube Bending Technology, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.90M | $5.00M | -$99.0K | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $4.45M | $4.42M | $35.0K | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Stock | $4.31M | $800.0K | $3.51M | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Common Units | $3.87M | $1.11M | $2.76M | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Line of Credit | $3.19M | $5.15M | -$1.96M | — | +10.50% | — |
Sicilian Oven Restaurants LLC | Beverage, Food, and Tobacco | Preferred Stock | $3.14M | $2.69M | $446.0K | — | — | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #2 | $2.83M | $2.83M | $0.00 | — | — | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Preferred Equity | $2.74M | $3.00M | -$259.0K | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $2.72M | $2.60M | $112.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #1 | $2.68M | $3.15M | -$468.0K | — | +10.50% | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $2.63M | $6.00M | -$3.37M | — | +2.00% | — |
Imperative Holdings Corporation | Oil and Gas | Preferred Equity Units | $2.46M | $488.0K | $1.97M | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Preferred Stock | $2.26M | $2.65M | -$390.0K | — | — | — |
Flexible Technology Solutions, LLC | Diversified/Conglomerate Service | Preferred Stock | $2.25M | $2.25M | $0.00 | — | — | — |
GSM MidCo LLC | Healthcare, Education, and Childcare | Common Stock | $2.17M | $767.0K | $1.41M | — | — | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Preferred Stock | $2.04M | $1.50M | $538.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Common Stock | $1.97M | $250.0K | $1.72M | — | — | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $1.93M | $2.44M | -$503.0K | — | +8.30% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Common Stock | $1.81M | $750.0K | $1.06M | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Line of Credit | $1.76M | $1.88M | -$124.0K | — | +9.50% | — |
Arc Drilling Holdings LLC | Machinery | Line of Credit | $1.65M | $1.65M | $0.00 | — | +7.00% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Delayed Draw Term Loan #1 | $1.63M | $1.60M | $32.0K | — | +6.30% | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Common Stock | $1.45M | $8.50M | -$7.05M | — | — | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Common Stock | $1.45M | $1.00M | $450.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #2 | $1.40M | $1.64M | -$244.0K | — | +10.50% | — |
GFRC 360, LLC | Buildings and Real Estate | Line of Credit | $1.35M | $1.35M | $0.00 | — | +8.00% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Line of Credit | $1.10M | $1.10M | $0.00 | — | +6.50% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $1.04M | $1.04M | $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 | $939.0K | $500.0K | $439.0K | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $768.0K | $768.0K | $0.00 | — | — | — |
Wings ‘N More Restaurants LLC | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $758.0K | $750.0K | $8.0K | — | +7.30% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Common Stock | $753.0K | $2.08M | -$1.33M | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Common Units | $597.0K | $6.75M | -$6.15M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $578.0K | $1.32M | -$742.0K | — | +2.00% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $499.0K | $517.0K | -$18.0K | — | +9.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Common Stock | $477.0K | $532.0K | -$55.0K | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $409.0K | $6.14M | -$5.73M | — | — | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Common Warrant | $324.0K | — | — | — | — | — |
Sea Link International IRB, Inc. | Automobile | Preferred Stock | $276.0K | $98.0K | $178.0K | — | — | — |
Sea Link International IRB, Inc. | Automobile | Common Equity Units | $269.0K | $823.0K | -$554.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Preferred Stock | $215.0K | $75.0K | $140.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $197.0K | $450.0K | -$253.0K | — | +2.00% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #3 | $121.0K | $125.0K | -$4.0K | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Preferred Stock | $105.0K | $1.02M | -$920.0K | — | — | — |
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 | — | — | — |
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 | — | — | — |
Dreyfus Treasury Obligations Cash Management Fund | CASH EQUIVALENTS | Common Equity | — | — | — | 3.31% | — | — |
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
$906.84M
Parsed holdings FV
$899.06M
Residual gap
$7.78M
Balance-sheet cash
$216.0K
CIK
0001143513
Accession
0001143513-26-000009
Form type
10-Q
Period
2026-03-31