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Gladstone Capital Management LLP

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13F filer, CIK 1353394, LONDON, United Kingdom

Gladstone Capital Management LLP reported $971,188,257 across 24 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-13. Its ten largest share positions make up 90.2% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001353394-25-000004

Period
2025-03-31
Reported value
$971M
Holdings
24
Top 10 weight
90.2%
New
7
Sold out
11

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BABAadded+571,542$75.6M
SNOWnew+416,311$60.8M
DEnew+125,059$58.7M
ICEadded+294,220$50.8M
METAadded+79,705$45.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
AAPLreduced-712,037-$158M
ETNexited-220,536-$73.2M
ARISTA NETWORKS INCexited-621,456-$68.7M
TWexited-404,586-$53M
WMTreduced-364,947-$32M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001353394-25-000004, largest first. % of portfolio is the value over $971,188,257, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 131,300 shares; 2025Q1: 211,005 shares 211,005$122M12.52%+79,705Timeline
ACGLARCH CAP GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,247,310 shares; 2024Q4: 1,338,272 shares; 2025Q1: 1,263,448 shares 1,263,448$122M12.51%-74,824Timeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 921,359 shares; 2024Q4: 883,473 shares; 2025Q1: 745,329 shares 745,329$118M12.18%-138,144Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 290,116 shares; 2025Q1: 584,336 shares 584,336$101M10.38%+294,220Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 666 shares; 2024Q4: 390,046 shares; 2025Q1: 390,046 shares 390,046$85.6M8.81%0Timeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 673,317 shares; 2024Q4: 1,000 shares; 2025Q1: 572,542 shares 572,542$75.7M7.8%+571,542Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 331,345 shares; 2024Q4: 244,635 shares; 2025Q1: 186,191 shares 186,191$69.9M7.2%-58,444Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 605,371 shares; 2024Q4: 445,442 shares; 2025Q1: 314,811 shares 314,811$63M6.49%-130,631Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 416,311 shares 416,311$60.8M6.27%newTimeline
DEDEERE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 125,059 shares 125,059$58.7M6.04%newTimeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 289,871 shares; 2024Q4: 987,806 shares; 2025Q1: 844,746 shares 844,746$45.9M4.73%-143,060Timeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 335,045 shares; 2025Q1: 206,791 shares 206,791$27M2.78%-128,254Timeline
HLTHILTON WORLDWIDE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 84,219 shares 84,219$19.2M1.97%newTimeline
ARMARM HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 11,815 shares 11,815$1.26M0.13%newTimeline
COINCOINBASE GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,900 shares 4,900$844K0.09%newTimeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 368,974 shares; 2025Q1: 4,027 shares 4,027$354K0.04%-364,947Timeline
AAPLAPPLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 245,603 shares; 2024Q4: 713,037 shares; 2025Q1: 1,000 shares 1,000$222K0.02%-712,037Timeline
ABNBAIRBNB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,000 shares 1,000$119K0.01%newTimeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 488,231 shares; 2024Q4: 1,000 shares; 2025Q1: 1,000 shares 1,000$108K0.01%0Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 59,200 shares; 2025Q1: 610 shares 610$102K0.01%-58,590Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,200 shares; 2024Q4: not reported; 2025Q1: 1,000 shares 1,000$63.5K0.01%newTimeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 193,102 shares; 2024Q4: 814 shares; 2025Q1: 100 shares 100$25.9K<0.01%-714Timeline
KEYKEYCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 698 shares; 2024Q4: 698 shares; 2025Q1: 698 shares 698$11.2K<0.01%0Timeline
DISCOVER FINL SVCSDISCOVER FINL SVCSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49 shares; 2024Q4: 49 shares; 2025Q1: 49 shares 49$8.36K<0.01%0

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ETNEATON CORP PLC220,536$73.2Mshares
ARISTA NETWORKS INCARISTA NETWORKS INC621,456$68.7Mshares
TWTRADEWEB MKTS INC404,586$53Mshares
LLYELI LILLY & CO23,500$18.1Mshares
FCNCAFIRST CTZNS BANCSHARES INC D4,380$9.26Mshares
GEVGE VERNOVA INC14,011$4.61Mshares
CIENCIENA CORP27,100$2.3Mshares
CEGCONSTELLATION ENERGY CORP7,200$1.61Mshares
GOOGLALPHABET INC6,438$1.22Mshares
LULULULULEMON ATHLETICA INC3,100$1.19Mshares
COOCOOPER COS INC1,000$91.9Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001353394-25-000004 base2025-05-13acceptance time not in the bulk data set