Gladstone Capital Management provides portfolio management for pooled vehicles and portfolio management for institutions. The firm advises 1 private fund.
Gladstone Capital Management reports 4 clients. They include 3 pooled investment vehicles and 1 pension or profit-sharing plan. Of its assets, 100.0% ($1.55B across 4 accounts) are managed with discretion. Of its clients, 50% are outside the U.S.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 75% | 72% |
| Pension and profit-sharing plans | 25% | 28% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 3 | $1.12B | 72.1% | $373M |
| Pension and profit-sharing plans | Fewer than 5 | $434M | 27.9% | $434M |
| Total | 4 | $1.55B | 100% | — |
- Clients
- 3
- Regulatory AUM
- $1.12B
- AUM share
- 72.1%
- Avg. per client
- $373M
- Clients
- Fewer than 5
- Regulatory AUM
- $434M
- AUM share
- 27.9%
- Avg. per client
- $434M
Total
- Clients
- 4
- Regulatory AUM
- $1.55B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 50%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
Gladstone Capital Management is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
George Michelakis owns 75% or more of Gladstone Capital Management. The leadership team of Gladstone Capital Management includes Chief Investment Officer George Michelakis and Chief Compliance Officer Justine Ayling-Kenrick. It has 17 employees, 7 of them in advisory roles.
Leadership
- Justine Ayling-KenrickChief Compliance Officer
- George BoutrosResearch Team Manager
- Francesco MasoniHead of Risk and Trading
- George MichelakisChief Investment Officer
Staff
- 17 employees
- 7 in advisory functions
- Owns 75% or more of Gladstone Capital Management LLP
George Michelakis
Control person · since November 2005
Gladstone Capital Management’s regulatory assets fell from $2.64B (February 2021) to $1.55B (August 2026); clients fell from 6 to 4 and employees rose from 16 to 17.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| August 2026 | $1.55B | 4 | 17 | 2 |
| June 2025 | $1.87B | 4 | 19 | 1 |
| May 2024 | $1.79B | 4 | 20 | 1 |
| February 2023 | $1.94B | 4 | 20 | 1 |
| February 2022 | $2.67B | 4 | 16 | 1 |
| February 2021 | $2.64B | 6 | 16 | 1 |
Besides its headquarters, Gladstone Capital Management has 1 office (1 private residence, listed without an address), with 1 listed address with no US state reported.
Contact and registration details
- Legal name
- Gladstone Capital Management LLP
- Headquarters
- 6 Grosvenor Street, 1st Floor, London, United Kingdom W1K 4PZ
- Website
- gladstone-management.com
- Phone
- 442074084771
- SEC file
- 801-81061
- Structure
- limited liability partnership organized in United Kingdom
- Fiscal year end
- November
Gladstone Capital Management uses Goldman Sachs & Co. ($228M, 53%), Morgan Stanley ($111M, 26%) and UBS Ag ($84.9M, 20%), among others, as custodians for its separately managed accounts. Gladstone Capital Management does not have custody of client assets.
- Goldman Sachs & Co.Goldman Sachs & Co. LLC · New York, NY · $228M53%
- Morgan StanleyMorgan Stanley & Co. LLC · New York, NY · $111M26%
- J.P. MorganJP Morgan Securities LLC · New York, NY · $9.06M2%
- UBS AgUBS Ag · New York, NY · $84.9M20%
At year end, Gladstone Capital Management’s separately managed accounts were mostly in cash (67%) and stocks (26%). Its reported 13F holdings for the quarter ended 30 June 2026 total $1.01B across 40 positions; the largest are Alphabet Inc. (17.8%), Quanta Svcs Inc. (12.8%) and Visa Inc. (9.4%).
What the accounts hold
- Stocks26%
- Bonds7%
- Investment grade corporate bonds5%
- High-yield corporate bonds2%
- Cash67%
Reported 13F holdings
- $1.01B
- Reported 13F value
- 40
- Positions
- 88.6%
- In the 10 largest
- +1.5%
- Value vs. prior quarter
- Alphabet Inc. · Cap Stk CL A17.8%
- Quanta Svcs Inc.12.8%
- Visa Inc. · Com CL A9.4%
- Rtx Corporation9.3%
- Philip Morris Intl Inc.9.0%
- Taiwan Semiconductor Manufac · Sponsored ADS8.0%
- Aflac Inc.7.0%
- Fortinet Inc.6.0%
- Corning Inc.4.8%
- Sandisk Corp.4.5%
Together, the ten largest are 88.6% of reported value.
How many clients does Gladstone Capital Management have?
Gladstone Capital Management has 4 clients and manages $1.55 billion for them, as of August 2026. They include 3 pooled investment vehicles and 1 pension or profit-sharing plan.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 14 August 2026
What services does Gladstone Capital Management offer?
Gladstone Capital Management provides portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Gladstone Capital Management use?
Gladstone Capital Management’s separately managed account assets are held at Goldman Sachs & Co. LLC (New York, NY), with $228M, Morgan Stanley & Co. LLC (New York, NY), with $111M, UBS Ag (New York, NY), with $84.9M and JP Morgan Securities LLC (New York, NY), with $9.06M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 14 August 2026
How many financial advisors does Gladstone Capital Management have?
Gladstone Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 17 employees, and 7 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Gladstone Capital Management invest in?
At the end of its last fiscal year, Gladstone Capital Management’s separately managed accounts held 67% cash and equivalents, 26% exchange-traded equities, 5% investment grade corporate bonds and 2% high-yield corporate bonds. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Gladstone Capital Management?
Gladstone Capital Management’s direct owner is George Michelakis (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 14 August 2026
How does Gladstone Capital Management get paid?
Gladstone Capital Management is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Gladstone Capital Management?
Gladstone Capital Management’s main office is at 6 Grosvenor Street, 1st Floor, London, United Kingdom W1K 4PZ. Its phone number is 442074084771. Its website is gladstone-management.com.