GAIN
Gladstone Investment
Portfolio Fair Value
$1.31B
66 holdings
Avg Spread
+8.83%
FV-weighted, debt
Avg Coupon
13.05%
FV-weighted
% First Lien
0.0%
of debt FV
Unrealized P/L
+$261.32M
+24.94% of cost
Non-Accrual
5
text-detected
Balance sheet
Assets$1.32B
Liabilities + Equity$1.32B
Other Debt
$669.84M · 50.6%
Other Debt
$669.84M · 50.6%
Equity
$639.41M · 48.3%
Equity
$639.41M · 48.3%
Cash & Equivalents
$1.13M · 0.1%
Other Assets
$12.46M · 0.9%
Debt (Borrowings)
$564.47M · 42.7%
Debt (Borrowings)
$564.47M · 42.7%
Other Liabilities
$90.15M · 6.8%
Net Assets (Equity)
$668.23M · 50.5%
Net Assets (Equity)
$668.23M · 50.5%
Industry Composition
Machinery (Non-Agriculture, Non-Construction, and Non-Electronic)
19.8%
Diversified/Conglomerate Services
14.4%
Aerospace and Defense
13.3%
Home and Office Furnishings, Housewares, and Durable Consumer Products
12.7%
Oil and Gas
9.6%
Leisure, Amusement, Motion Pictures, and Entertainment
8.0%
Buildings and Real Estate
5.3%
Electronics
4.8%
Chemicals, Plastics, and Rubber
4.2%
Healthcare, Education, and Childcare
3.2%
Mining, Steel, Iron and Non-Precious Metals
2.9%
Printing and Publishing
0.6%
Other industries
1.2%
Spread Distribution
0.5%
2.0%
4.0%
5.5%
6.0%
7.0%
9.0%
9.5%
10.0%
10.5%
11.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
66 of 75
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
SFEG Holdings, Inc. | Machinery (Non-Agriculture, Non-Construction, and Non-Electronic) | Common Stock | $204.05M | $30.75M | $173.30M | — | — | — |
Schylling, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Preferred Stock | $66.40M | $4.00M | $62.40M | — | — | — |
Detroit Defense, Inc. | Aerospace and Defense | Term Debt | $61.30M | $61.30M | $0.00 | 13.00% | +9.00% | — |
The E3 Company, LLC | Oil and Gas | Preferred Stock | $58.57M | $11.23M | $47.34M | — | — | — |
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 | $49.81M | $6.65M | $43.16M | — | — | — |
Nielsen-Kellerman Acquisition Corp. | Electronics | Term Debt | $48.08M | $48.08M | $0.00 | — | — | — |
Global GRAB Technologies, Inc. | Aerospace and Defense | Term Debt | $46.50M | $46.50M | $0.00 | 13.50% | +9.00% | — |
Dema/Mai Holdings, Inc. | Buildings and Real Estate | Term Debt | $38.25M | $38.25M | $0.00 | 14.70% | +11.00% | — |
Old World Christmas, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt | $38.00M | $38.00M | $0.00 | 13.20% | +9.50% | — |
Smart Chemical Solutions, LLC | Chemicals, Plastics, and Rubber | Term Debt | $35.66M | $35.66M | $0.00 | 13.50% | +9.00% | — |
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 | $30.74M | $21.00M | $9.74M | — | — | — |
ImageWorks Display and Marketing Group, Inc. | Diversified/Conglomerate Services | Preferred Stock | $30.45M | $6.75M | $23.70M | — | — | — |
Educators Resource, Inc. | Healthcare, Education, and Childcare | Term Debt | $30.00M | $30.00M | $0.00 | 14.20% | +10.50% | — |
Old World Christmas, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Preferred Stock | $29.73M | — | — | — | — | — |
The Maids International, LLC | Diversified/Conglomerate Services | Term Debt | $28.56M | $28.56M | $0.00 | 14.20% | +10.50% | — |
UPB Acquisition, Inc | Mining, Steel, Iron and Non-Precious Metals | Preferred Stock | $26.71M | $6.00M | $20.71M | — | — | — |
Rowan Energy Inc. | Oil and Gas | Term Debt | $25.79M | $25.79M | $0.00 | 14.50% | +9.00% | — |
Mason West, LLC | Diversified/Conglomerate Services | Term Debt | $25.25M | $25.25M | $0.00 | 13.70% | +10.00% | — |
Global GRAB Technologies, Inc. | Aerospace and Defense | Preferred Stock | $25.02M | $21.10M | $3.92M | — | — | — |
ImageWorks Display and Marketing Group, Inc. | Diversified/Conglomerate Services | Term Debt | $22.00M | $22.00M | $0.00 | 14.70% | +11.00% | — |
Pyrotek Special Effects, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Term Debt | $20.12M | $20.12M | $0.00 | — | — | — |
J.R. Hobbs Co. - Atlanta, LLC | Diversified/Conglomerate Services | Term Debt | $20.00M | $20.00M | $0.00 | 10.00% | +6.00% | — |
Mason West, LLC | Diversified/Conglomerate Services | Preferred Stock | $19.23M | $11.21M | $8.03M | — | — | — |
Galaxy Technologies Holdings, Inc. | Aerospace and Defense | Term Debt #2 | $18.80M | $18.80M | $0.00 | 10.70% | +7.00% | — |
Brunswick Bowling Products, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt #1 | $17.70M | $17.70M | $0.00 | 13.70% | +10.00% | — |
Schylling, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Term Debt | $16.98M | $16.98M | $0.00 | 14.70% | +11.00% | — |
Horizon Facilities Services, Inc. | Diversified/Conglomerate Services | Term Debt | $16.55M | $57.70M | -$41.16M | 6.00% | +0.50% | — |
Nielsen-Kellerman Acquisition Corp. | Electronics | Preferred Stock | $14.64M | $22.17M | -$7.53M | — | — | — |
Detroit Defense, Inc. | Aerospace and Defense | Preferred Stock | $12.57M | $17.39M | -$4.82M | — | — | — |
Ginsey Home Solutions, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Preferred Stock | $12.26M | $9.58M | $2.67M | — | — | — |
Ginsey Home Solutions, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt | $12.20M | $12.20M | $0.00 | 13.70% | +10.00% | — |
Educators Resource, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $11.63M | $8.56M | $3.07M | — | — | — |
UPB Acquisition, Inc. | Mining, Steel, Iron and Non-Precious Metals | Term Debt | $11.00M | $11.00M | $0.00 | 13.70% | +10.00% | — |
Sun State Nursery and Landscaping, LLC | Diversified/Conglomerate Services | Term Debt | $9.52M | $9.52M | $0.00 | 13.50% | +9.00% | — |
J.R. Hobbs Co. – Atlanta, LLC | Diversified/Conglomerate Services | Preferred Stock | $9.24M | $10.92M | -$1.68M | — | — | — |
Home Concepts Acquisition, Inc. | Printing and Publishing | Term Debt | $8.38M | $12.00M | -$3.62M | 13.00% | +9.00% | — |
Rowan Energy Inc. | Oil and Gas | Preferred Stock | $7.50M | $7.30M | $197.0K | — | — | — |
Smart Chemical Solutions, LLC | Chemicals, Plastics, and Rubber | Preferred Stock | $7.33M | $13.84M | -$6.52M | — | — | — |
Galaxy Technologies Holdings, Inc. | Aerospace and Defense | Term Debt #1 | $6.90M | $6.90M | $0.00 | 7.80% | +4.10% | — |
Brunswick Bowling Products, Inc. | Home and Office Furnishings, Housewares, and Durable Consumer Products | Term Debt #2 | $6.85M | $6.85M | $0.00 | 13.70% | +10.00% | — |
PSI Molded Plastics, Inc. | Chemicals, Plastics, and Rubber | Preferred Stock | $4.93M | $46.75M | -$41.82M | — | — | — |
PSI Molded Plastics, Inc. | Chemicals, Plastics, and Rubber | Preferred Stock(O) | $4.93M | — | — | — | — | — |
The Maids International, LLC | Diversified/Conglomerate Services | Preferred Stock | $4.63M | $6.64M | -$2.01M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $3.81M | $14.00M | -$10.19M | 7.00% | +2.00% | — |
Sun State Nursery and Landscaping, LLC | Diversified/Conglomerate Services | Preferred Stock | $3.72M | $3.06M | $659.0K | — | — | — |
Galaxy Technologies Holdings, Inc. | Aerospace and Defense | Common Stock | $3.45M | $11.51M | -$8.07M | — | — | — |
Phoenix Door Systems, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $3.20M | $3.20M | $0.00 | 14.70% | +11.00% | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $3.08M | $3.08M | $0.00 | 7.00% | +2.00% | — |
Phoenix Door Systems, Inc | Diversified/Conglomerate Manufacturing | Line of Credit | $2.95M | $2.95M | $0.00 | 10.70% | +7.00% | — |
Pyrotek Special Effects, Inc. | Leisure, Amusement, Motion Pictures, and Entertainment | Preferred Stock | $1.83M | $7.06M | -$5.22M | — | — | — |
PSI Molded Plastics, Inc. | Chemicals, Plastics, and Rubber | Line of Credit | $1.40M | $1.40M | $0.00 | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $1.05M | $1.05M | $0.00 | 7.00% | +2.00% | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $613.0K | $9.21M | -$8.60M | 9.20% | +5.50% | — |
Diligent Delivery Systems | Cargo Transport | Term Debt | $512.0K | $13.00M | -$12.49M | 12.70% | +9.00% | — |
PSI Molded Plastics, Inc. | Chemicals, Plastics, and Rubber | Term Debt | $400.0K | $400.0K | $0.00 | — | — | — |
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 | — | — | — |
Phoenix Door Systems, Inc. | Diversified/Conglomerate Manufacturing | Common Stock | $0.00 | $1.83M | -$1.83M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Preferred Stock | — | — | — | — | — | — |
Dreyfus Treasury Obligations Cash Management Fund | CASH EQUIVALENTS | Preferred Equity | — | — | — | 3.30% | — | — |
Horizon Facilities Services, Inc. | Diversified/Conglomerate Services | Preferred Stock | — | — | — | — | — | — |
Disclosed holdings FV
$1.31B
Parsed holdings FV
$1.31B
Residual gap
$77.0K
Balance-sheet cash
$1.13M
CIK
0001321741
Accession
0001321741-26-000011
Form type
10-K
Period
2026-03-31