GLAD
Gladstone Capital
Portfolio Fair Value
$948.38M
122 holdings
Avg Spread
+7.61%
FV-weighted, debt
Avg Coupon
—
FV-weighted
% First Lien
0.8%
of debt FV
Unrealized P/L
-$15.28M
-1.59% of cost
Non-Accrual
10
text-detected
Balance sheet
Assets$970.12M
Liabilities + Equity$970.12M
First Lien
$7.91M · 0.8%
Other Debt
$848.56M · 87.5%
Other Debt
$848.56M · 87.5%
Equity
$93.66M · 9.7%
Other
$3.19M · 0.3%
Cash & Equivalents
$209.0K · 0.0%
Other Assets
$16.58M · 1.7%
Debt (Borrowings)
$429.88M · 44.3%
Debt (Borrowings)
$429.88M · 44.3%
Other Liabilities
$54.52M · 5.6%
Net Assets (Equity)
$485.72M · 50.1%
Net Assets (Equity)
$485.72M · 50.1%
Industry Composition
Diversified/Conglomerate Manufacturing
30.5%
Healthcare, Education, and Childcare
23.2%
Diversified/Conglomerate Service
16.0%
Beverage, Food, and Tobacco
9.1%
Cargo Transportation
5.3%
Home and Office Furnishings, Housewares and Durable Consumer Products
3.7%
Machinery
2.7%
Personal, Food, and Miscellaneous Services
2.4%
Ecological
1.9%
Personal and Non-Durable Consumer Products (Manufacturing Only)
1.7%
Oil and Gas
1.4%
Automobile
0.9%
Other industries
1.2%
Spread Distribution
2.0%
5.5%
6.0%
6.5%
7.0%
7.5%
8.0%
8.5%
9.5%
10.5%
11.0%
11.5%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
122 of 123
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
RPM Freight Systems, LLC | Cargo Transportation | Term Debt | $50.00M | $49.47M | $531.0K | — | +7.70% | — |
Altior Healthcare, LLC | Healthcare, Education, and Childcare | Term Debt | $46.46M | $46.00M | $460.0K | — | +6.50% | — |
Turn Key Health Clinics, LLC | Healthcare, Education, and Childcare | Term Debt | $32.98M | $32.50M | $478.0K | — | +6.80% | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $32.00M | $32.00M | $0.00 | — | +7.50% | — |
SWECO Worldwide, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $30.50M | $30.50M | $0.00 | — | +6.50% | — |
ALS Education, LLC | Healthcare, Education, and Childcare | Term Debt | $30.36M | $30.36M | $0.00 | — | +6.30% | — |
Springfield, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $30.00M | $29.72M | $278.0K | — | +11.10% | — |
Foodservices Brand Group, LLC | Home and Office Furnishings, Housewares and Durable Consumer Products | Term Debt | $29.77M | $29.63M | $144.0K | — | +6.50% | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Term Debt | $27.26M | $27.26M | $0.00 | — | +7.00% | — |
MASSiv Brands, LLC | Diversified/Conglomerate Service | Term Debt | $25.92M | $26.28M | -$362.0K | — | — | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Term Debt | $24.79M | $24.30M | $485.0K | — | +7.50% | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $24.77M | $26.68M | -$1.91M | — | +8.30% | — |
Sicilian Oven Restaurants LLC | Beverage, Food, and Tobacco | Term Debt | $23.17M | $22.79M | $381.0K | — | +6.40% | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Term Debt | $22.82M | $23.00M | -$177.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt | $21.40M | $24.95M | -$3.55M | — | +10.50% | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Term Debt | $20.95M | $20.91M | $47.0K | — | +6.70% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Term Debt | $19.05M | $19.90M | -$848.0K | — | +9.50% | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Term Debt | $18.71M | $18.37M | $340.0K | — | +6.50% | — |
Clean Water Environmental Services, Inc. | Ecological | Term Debt | $18.20M | $18.00M | $201.0K | — | +7.30% | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Term Debt | $17.68M | $17.50M | $175.0K | — | +6.30% | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #1 | $17.66M | $17.66M | $0.00 | — | +11.60% | — |
Viron International Corp. | Diversified/Conglomerate Manufacturing | Term Debt | $17.02M | $16.95M | $68.0K | — | +7.00% | — |
Arc Drilling Holdings LLC | Machinery | Term Debt | $15.86M | $15.70M | $157.0K | — | +7.00% | — |
Freedom Dental Management, Inc. | Healthcare, Education, and Childcare | Term Debt | $15.15M | $15.00M | $150.0K | — | +7.50% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $13.76M | $13.65M | $111.0K | — | +6.50% | — |
Viva Railings, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $13.44M | $13.44M | $0.00 | — | +6.40% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Term Debt | $13.21M | $13.08M | $130.0K | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #1 | $12.56M | $12.50M | $61.0K | — | +9.50% | — |
OneSource HoldCo, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $12.50M | $12.50M | $0.00 | — | — | — |
RF Technologies, LLC | Diversified/Conglomerate Service | Term Debt | $12.26M | $12.57M | -$305.0K | — | +6.70% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $12.03M | $12.00M | $27.0K | — | +6.40% | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Line of Credit | $11.96M | $15.55M | -$3.59M | — | +7.00% | — |
Imperative Holdings Corporation | Oil and Gas | Term Debt | $11.77M | $11.72M | $49.0K | — | +9.80% | — |
SPC Excelus Holdings Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $11.49M | $11.49M | $0.00 | — | — | — |
Wings ‘N More Restaurants LLC | Beverage, Food, and Tobacco | Term Debt | $10.72M | $10.43M | $292.0K | — | +8.30% | — |
Incodema3D Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $10.15M | $10.05M | $99.0K | — | — | — |
Alsay Incorporated | Diversified/Conglomerate Service | Term Debt | $10.00M | $10.00M | $0.00 | — | — | — |
Dutch Gold Honey, Inc. | Beverage, Food, and Tobacco | Common Stock | $9.68M | $115.0K | $9.56M | — | — | — |
Arc Drilling Holdings LLC | Machinery | Common Stock | $9.16M | $5.33M | $3.83M | — | — | — |
Flexible Technology Solutions, LLC | Diversified/Conglomerate Service | Term Debt | $8.87M | $9.00M | -$132.0K | — | — | — |
Tube Bending Technology, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $7.50M | $7.50M | $0.00 | — | — | — |
Defiance Integrated Technologies, Inc. | Automobile | Term Debt | $7.45M | $8.79M | -$1.35M | — | +9.60% | — |
Giving Home Health Care, LLC | Healthcare, Education, and Childcare | Common Stock | $7.44M | — | — | — | — | — |
Encore Dredging Holdings, LLC | Diversified/Conglomerate Service | Preferred Stock | $7.22M | $3.84M | $3.38M | — | — | — |
Alsay Incorporated | Diversified/Conglomerate Service | Preferred Stock | $7.03M | $5.00M | $2.03M | — | — | — |
Pan-Am Dental, LLC | Healthcare, Education, and Childcare | Preferred Stock | $6.67M | $5.91M | $760.0K | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Term Debt | $6.41M | $9.78M | -$3.36M | — | +10.50% | — |
IMX Power Holdings Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $5.93M | $6.00M | -$65.0K | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Common Stock | $5.49M | $800.0K | $4.69M | — | — | — |
Foodservices Brand Group, LLC | Home and Office Furnishings, Housewares and Durable Consumer Products | Line of Credit | $5.02M | $5.00M | $24.0K | — | +6.50% | — |
TNCP Intermediate HoldCo, LLC | Printing and Publishing | Common Equity Units | $4.38M | $500.0K | $3.88M | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $3.84M | $4.45M | -$608.0K | — | — | — |
Engineering Manufacturing Technologies, LLC | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $3.72M | $4.00M | -$286.0K | — | +8.30% | — |
Ascendia Autism Care Partners LLC | Healthcare, Education, and Childcare | Term Debt | $3.50M | $3.50M | $0.00 | — | +8.50% | — |
Ascendia Autism Care Partners LLC | Healthcare, Education, and Childcare | Common Equity | $3.50M | $3.50M | $0.00 | — | — | — |
WB Xcel Holdings, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Line of Credit | $3.38M | $5.15M | -$1.77M | — | +10.50% | — |
Sicilian Oven Restaurants LLC | Beverage, Food, and Tobacco | Preferred Stock | $3.38M | $2.69M | $685.0K | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Common Units | $3.18M | $1.11M | $2.06M | — | — | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Preferred Equity | $3.00M | $3.00M | $0.00 | — | — | — |
Axios Industrial Group, LLC | Diversified/Conglomerate Service | Term Debt #2 | $2.96M | $2.96M | $0.00 | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #1 | $2.73M | $3.18M | -$453.0K | — | +10.50% | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Preferred Stock | $2.53M | $2.60M | -$74.0K | — | — | — |
OCI, LLC | Diversified/Conglomerate Manufacturing | Term Debt | $2.51M | $2.44M | $67.0K | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Term Debt | $2.47M | $6.00M | -$3.53M | — | +2.00% | — |
Flexible Technology Solutions, LLC | Diversified/Conglomerate Service | Preferred Stock | $2.25M | $2.25M | $0.00 | — | — | — |
GSM MidCo LLC | Healthcare, Education, and Childcare | Common Stock | $2.11M | $767.0K | $1.34M | — | — | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Preferred Stock | $2.02M | $2.65M | -$627.0K | — | — | — |
SPC Excelus Holdings Inc. | Diversified/Conglomerate Manufacturing | Preferred Equity | $2.00M | $2.00M | $0.00 | — | — | — |
SWECO Worldwide, Inc. | Diversified/Conglomerate Manufacturing | Common Equity | $2.00M | $2.00M | $0.00 | — | — | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Common Stock | $1.99M | $750.0K | $1.24M | — | — | — |
Ohio Armor Holdings, LLC | Aerospace and Defense | Common Equity | $1.83M | $1.00M | $829.0K | — | — | — |
HH-Inspire Acquisition, Inc. | Healthcare, Education, and Childcare | Line of Credit | $1.80M | $1.89M | -$86.0K | — | +9.50% | — |
Imperative Holdings Corporation | Oil and Gas | Preferred Equity Units | $1.72M | $488.0K | $1.24M | — | — | — |
Total Access Elevator, LLC | Diversified/Conglomerate Service | Delayed Draw Term Loan #1 | $1.62M | $1.60M | $16.0K | — | +6.30% | — |
Zero Case Holding Inc. | Diversified/Conglomerate Manufacturing | Common Stock | $1.57M | $1.00M | $567.0K | — | — | — |
Snif-Snax, LLC | Personal, Food, and Miscellaneous Services | Preferred Stock | $1.54M | $1.50M | $41.0K | — | — | — |
Lonestar EMS, LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $1.43M | $1.65M | -$225.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Line of Credit #2 | $1.43M | $1.66M | -$236.0K | — | +10.50% | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Common Stock | $1.40M | $250.0K | $1.15M | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Line of Credit | $1.35M | $1.35M | $0.00 | — | +8.00% | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $1.02M | $1.02M | $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% | — |
OneSource HoldCo, LLC | Diversified/Conglomerate Manufacturing | Line of Credit | $1.00M | $1.00M | $0.00 | — | — | — |
Canopy Safety Brands, LLC | Personal and Non-Durable Consumer Products (Manufacturing Only) | Preferred Stock | $966.0K | $500.0K | $466.0K | — | — | — |
Wings ‘N More Restaurants LLC | Beverage, Food, and Tobacco | Delayed Draw Term Loan | $765.0K | $750.0K | $15.0K | — | +8.30% | — |
Arc Drilling Holdings LLC | Machinery | Line of Credit | $750.0K | $750.0K | $0.00 | — | +7.00% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Delayed Draw Term Loan | $750.0K | $750.0K | $0.00 | — | — | — |
NeoGraf Solutions LLC | Diversified/Conglomerate Manufacturing | Common Stock | $624.0K | $2.08M | -$1.46M | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #1 | $543.0K | $1.32M | -$777.0K | — | +2.00% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #2 | $517.0K | $517.0K | $0.00 | — | +9.50% | — |
Quality Environmental Midco, Inc. | Diversified/Conglomerate Service | Line of Credit | $505.0K | $500.0K | $5.0K | — | — | — |
IMX Power Holdings Inc. | Diversified/Conglomerate Manufacturing | Line of Credit | $495.0K | $500.0K | -$5.0K | — | — | — |
WorkforceQA, LLC | Diversified/Conglomerate Service | Common Stock | $486.0K | $532.0K | -$46.0K | — | — | — |
Unirac Holdings, Inc. | Diversified/Conglomerate Manufacturing | Line of Credit | $444.0K | $444.0K | $0.00 | — | +6.50% | — |
Sea Link International IRB, Inc. | Automobile | Common Equity Units | $350.0K | $823.0K | -$473.0K | — | — | — |
Technical Resource Management, LLC | Healthcare, Education, and Childcare | Term Debt #2 | $340.0K | $396.0K | -$56.0K | — | — | — |
Edge Adhesives Holdings, Inc. | Diversified/Conglomerate Manufacturing | Term Debt | $336.0K | $6.14M | -$5.80M | — | — | — |
Sea Link International IRB, Inc. | Automobile | Preferred Stock | $303.0K | $98.0K | $205.0K | — | — | — |
Triple H Food Processors, LLC | Beverage, Food, and Tobacco | Preferred Stock | $224.0K | $75.0K | $149.0K | — | — | — |
OneSource HoldCo LLC | Diversified/Conglomerate Manufacturing | Common Equity | $213.0K | $213.0K | $0.00 | — | — | — |
B+T Group Acquisition, Inc. | Telecommunications | Line of Credit #2 | $185.0K | $450.0K | -$265.0K | — | +2.00% | — |
Torrent Photonics Holdco LLC | Diversified/Conglomerate Manufacturing | Term Debt #3 | $125.0K | $125.0K | $0.00 | — | +9.50% | — |
Salt & Straw, LLC | Beverage, Food, and Tobacco | Common Warrant | $55.0K | — | — | — | — | — |
GFRC 360, LLC | Buildings and Real Estate | Preferred Stock | $25.0K | $1.02M | -$1.00M | — | — | — |
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 | — | — | — |
Eegee Acquisition Corp. | Beverage, Food, and Tobacco | Common Stock | $0.00 | $8.50M | -$8.50M | — | — | — |
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 | — | — | — |
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 | — | — | — | 3.29% | — | — |
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
$953.33M
Parsed holdings FV
$948.38M
Residual gap
$4.95M
Balance-sheet cash
$209.0K
CIK
0001143513
Accession
0001143513-26-000012
Form type
10-Q
Period
2026-06-30