Skip to content
Disclosery

Gladstone Capital Management LLP

Follow

13F filer, CIK 1353394, LONDON, United Kingdom

Gladstone Capital Management LLP reported $969,178,703 across 22 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 95.1% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001353394-25-000006

Period
2025-06-30
Reported value
$969M
Holdings
22
Top 10 weight
95.1%
New
2
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RTXnew+231,829$33.9M
AMZNadded+68,287$15M
DEadded+22,270$11.3M
ICEadded+29,518$5.42M
COINadded+2,375$832K

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
BABAexited-572,542-$75.7M
METAreduced-68,111-$50.3M
CBREreduced-160,542-$34.2M
GEreduced-82,340-$21.2M
HLTexited-84,219-$19.2M

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, Q2 2025

Share positions as resolved from 13F-HR 0001353394-25-000006, largest first. % of portfolio is the value over $969,178,703, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PMPHILIP MORRIS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 921,359 shares; 2024Q4: 883,473 shares; 2025Q1: 745,329 shares; 2025Q2: 727,159 shares 727,159$132M13.66%-18,170Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 290,116 shares; 2025Q1: 584,336 shares; 2025Q2: 613,854 shares 613,854$113M11.62%+29,518Timeline
ACGLARCH CAP GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,247,310 shares; 2024Q4: 1,338,272 shares; 2025Q1: 1,263,448 shares; 2025Q2: 1,165,926 shares 1,165,926$106M10.95%-97,522Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 131,300 shares; 2025Q1: 211,005 shares; 2025Q2: 142,894 shares 142,894$105M10.88%-68,111Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 666 shares; 2024Q4: 390,046 shares; 2025Q1: 390,046 shares; 2025Q2: 458,333 shares 458,333$101M10.38%+68,287Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 331,345 shares; 2024Q4: 244,635 shares; 2025Q1: 186,191 shares; 2025Q2: 184,434 shares 184,434$91.7M9.47%-1,757Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 416,311 shares; 2025Q2: 381,307 shares 381,307$85.3M8.8%-35,004Timeline
DEDEERE & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 125,059 shares; 2025Q2: 147,329 shares 147,329$74.9M7.73%+22,270Timeline
GEGE AEROSPACEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 605,371 shares; 2024Q4: 445,442 shares; 2025Q1: 314,811 shares; 2025Q2: 232,471 shares 232,471$59.8M6.17%-82,340Timeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 289,871 shares; 2024Q4: 987,806 shares; 2025Q1: 844,746 shares; 2025Q2: 774,305 shares 774,305$52.6M5.43%-70,441Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 231,829 shares 231,829$33.9M3.49%newTimeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 335,045 shares; 2025Q1: 206,791 shares; 2025Q2: 46,249 shares 46,249$9.84M1.02%-160,542Timeline
COINCOINBASE GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,900 shares; 2025Q2: 7,275 shares 7,275$2.55M0.26%+2,375Timeline
APPAPPLOVIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000 shares 1,000$350K0.04%newTimeline
WMTWALMART INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 368,974 shares; 2025Q1: 4,027 shares; 2025Q2: 2,014 shares 2,014$197K0.02%-2,013Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 59,200 shares; 2025Q1: 610 shares; 2025Q2: 610 shares 610$168K0.02%0Timeline
ARMARM HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 11,815 shares; 2025Q2: 1,000 shares 1,000$162K0.02%-10,815Timeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 488,231 shares; 2024Q4: 1,000 shares; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares 1,000$158K0.02%0Timeline
ABNBAIRBNB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares 1,000$132K0.01%0Timeline
NKENIKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 61,200 shares; 2024Q4: not reported; 2025Q1: 1,000 shares; 2025Q2: 1,000 shares 1,000$71K0.01%0Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 193,102 shares; 2024Q4: 814 shares; 2025Q1: 100 shares; 2025Q2: 100 shares 100$31.8K<0.01%0Timeline
KEYKEYCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 698 shares; 2024Q4: 698 shares; 2025Q1: 698 shares; 2025Q2: 698 shares 698$12.2K<0.01%0Timeline

Sold out in Q2 2025

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

SecurityShares beforeValue beforeType
BABAALIBABA GROUP HLDG LTD572,542$75.7Mshares
HLTHILTON WORLDWIDE HLDGS INC84,219$19.2Mshares
AAPLAPPLE INC1,000$222Kshares
DISCOVER FINL SVCSDISCOVER FINL SVCS49$8.36Kshares

How Q2 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 0001353394-25-000006 base2025-08-13acceptance time not in the bulk data set