MEDIUMBuilt-inGeographic
33.5%
South (U.S. region)
“10-K Item 1: 'South| | $| 287,371 | | | 33.5 | %'”
GLAD · Concentration risk · 10-K extracted
Gladstone Capital (GLAD) concentration risks
Updated
The most significant concentration Gladstone Capital discloses is South (U.S. region) at 33.5%, classified MEDIUM by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Source: Gladstone Capital’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
At a glance
Disclosed-size breakdown · 3 disclosed concentrations
HIGH0
MEDIUM2
LOW1
Disclosed concentrations
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
MEDIUMBuilt-inLoan_portfolio
31.8%
Healthcare, Education, and Childcare
“10-K Item 1: 'Healthcare, Education, and Childcare| | $| 273,262 | | | 31.8 | %'”
LOWOutside partyCustomer
22.9%
five largest investments
“10-K Item 1: 'The five largest investments at fair value as of September 30, 2025, totaled $196.5 million, or 22.9% of our total investment portfolio.'”
TrendMatrix Research · concentration synthesis
What these concentrations mean together
updated 2026-07-26Gladstone Capital's concentration risk is geographic and sectoral rather than counterparty-specific, with one modest exception. Investments in the South region of the U.S. represent a medium-share 33.5% of the portfolio, and Healthcare, Education, and Childcare exposures separately represent a medium-share 31.8% — both are structural characteristics of the BDC's lending book rather than dependence on any single borrower, meaning a regional downturn or sector-specific stress could weigh on a meaningful slice of the portfolio without any one counterparty failing. Layered on top of these structural exposures is a genuine dependency risk: the five largest investments together account for 22.9% of the total investment portfolio at fair value, a low-share but still notable degree of borrower concentration where an idiosyncratic default among the top holdings would have a disproportionate effect relative to the rest of the book. Netting these out, the structural geographic and sector exposures are unlikely to move the thesis absent a broad regional or sector shock, while the borrower-level concentration in the top five investments is the exposure most capable of producing an idiosyncratic surprise, and is the one worth monitoring most closely for credit-specific developments.
For the engine’s reasoning on GLAD’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
Industry peers · Asset Management
Peer concentration profile
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| AAMI | Acadian Asset Management Inc. | 1 | 2 | 1 | 4 |
| GLAD● | Gladstone Capital Corporation | 0 | 2 | 1 | 3 |
| APAM | Artisan Partners Asset Manageme | 0 | 1 | 2 | 3 |
| AMP | Ameriprise Financial, Inc. | 0 | 1 | 0 | 1 |
| AB | AllianceBernstein Holding L.P. | 0 | 0 | 1 | 1 |
| AMG | Affiliated Managers Group, Inc. | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.