Here are the 10-K annual reports from Gladstone Invt Corp (GAINL) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow GAINL and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GAINL filings page.
Gladstone Investment Corporation, an externally managed business development company, reports an investment portfolio with fair value of $1,309,248 (in thousands) as of March 31, 2026. The portfolio is 70.8% debt and 29.2% equity at cost, focused on lower middle market U.S. businesses.
Investments span 29 portfolio companies across 16 industries and are concentrated in machinery, services, and aerospace and defense. The five largest holdings total $582.6 million, or 44.5% of portfolio fair value. The U.S. South represents 49.6% of portfolio fair value.
The company remains a BDC and regulated investment company, targeting 70% debt and 30% equity over time, and uses a 2.0% base management fee plus incentive fees for its adviser. Asset coverage on senior indebtedness was 213.8%, above the 150% regulatory minimum, and management highlights risks from market conditions, interest rates, and illiquidity of private investments.