# Gladstone Management

> Gladstone Management is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2015, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated August 14, 2026.

- CRD: 167646
- Filed as: GLADSTONE MANAGEMENT
- Legal name: Gladstone Capital Management LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: August 14, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/167646
- AdvisorCensus page: https://advisorcensus.com/firm/gladstone-management-london-167646

## Quick answers

**How is Gladstone Management compensated?**
On its Form ADV (Item 5.E, October 2026), Gladstone Management reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Gladstone Management located?**
Gladstone Management's principal office is in London, United Kingdom, according to its Form ADV.

**Is Gladstone Management registered with the SEC or a state?**
Gladstone Management is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 167646.

**How much does Gladstone Management manage?**
Gladstone Management reports $1,552,188,628 in regulatory assets under management in its Form ADV filing dated August 14, 2026 (100% discretionary).

**How have Gladstone Management's assets and staff changed since 2021?**
In the Form ADV data for Gladstone Management: Regulatory assets under management: $2,639,162,568 in the October 2021 data and $1,552,188,628 in the October 2026 data, down 41%. Total employees: 16 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Gladstone Management serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3); pension and profit sharing plans (but not the plan participants or government pension plans) (1).

**Which custodians does Gladstone Management use?**
Gladstone Management's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Goldman Sachs & Co. LLC, JP Morgan, Morgan Stanley & Co. LLC and UBS as custodians holding 10% or more of its separately managed account assets.

**Does Gladstone Management report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/167646

**What changed in Gladstone Management's recent Form ADV filings?**
In the September 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Goldman Sachs & Co. LLC
- JP Morgan
- Morgan Stanley & Co. LLC
- UBS

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $1,552,188,628
- Discretionary: $1,552,188,628
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 3 | $1,118,666,090 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $433,522,538 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2015 (11 years)
- Employees: 17 total, 7 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- gladstone-management.com
- LinkedIn @gladstone-capital-management-llp

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $2,639,162,568 | 16 | February 25, 2021 |
| October 2022 | $2,670,017,488 | 16 | February 23, 2022 |
| October 2023 | $1,937,216,220 | 20 | February 28, 2023 |
| October 2024 | $1,790,237,100 | 20 | May 31, 2024 |
| October 2025 | $1,868,076,322 | 19 | June 11, 2025 |
| October 2026 | $1,552,188,628 | 17 | August 14, 2026 |

Regulatory assets under management: $2,639,162,568 in the October 2021 data and $1,552,188,628 in the October 2026 data, down 41%.
Total employees: 16 in October 2021 and 17 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Updated its list of owners and control persons (Schedule A).

### March 2026
- Employees performing advisory functions went from 8 to 7.
- Regulatory assets under management went from $1,868,076,322 to $1,552,188,628 (-17%).
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Gladstone Management (CRD 167646): Form ADV filing data as of October 2026.