Who owns Gladstone Investment Corporation (GAIN)
Which tracked institutional funds hold GAIN, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See GAIN company fundamentals →
Ownership as of the 2026-Q1 13F filings (latest filed 2026-05-15). 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
7 tracked funds added or opened GAIN while 9 trimmed or exited it between 2025-Q4 and 2026-Q1 — the tape is split. When large holders disagree on a name, the funds moving first are sometimes ahead of the story.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
GAIN’s largest tracked holder by dollar value, PANORAMIC INVESTMENT ADVISORS, LLC, sizes it at 3.9% of its own reported 13F book, while the median holder sizes it at 0.0% of theirs — a 3.9pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in GAIN divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 90 tracked filers holding GAIN, 45 increased or opened the position and 44 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in GAIN between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 3
- PANORAMIC INVESTMENT ADVISORS, LLC$15M
- TUDOR INVESTMENT CORP ET AL$2M
- Squarepoint Ops LLC$1M
Full exits 4
- MARSHALL WACE, LLP$2M
- TWO SIGMA ADVISERS, LP$2M
- TrueMark Investments, LLC$582K
- GLOBAL STRATEGIC MANAGEMENT INC$545K
Largest adds
- TWO SIGMA INVESTMENTS, LP$9M
- JANE STREET GROUP, LLC$795K
- Legal & General Group Plc$442K
- UBS Group AG$437K
Largest trims
- Union Bancaire Privee, UBP SA$33M
- VAN ECK ASSOCIATES CORP$3M
- BlackRock, Inc.$2M
- Cassaday & Co Wealth Management LLC$721K
- Melia Wealth LLC$562K
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| PANORAMIC INVESTMENT ADVISORS, LLC new | 1,069,685 | $15M | 12.4% | 2026-Q1 |
| Melia Wealth LLC trimmed | 1,069,486 | $15M | 12.4% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 804,263 | $11M | 9.3% | 2026-Q1 |
| UBS Group AG added | 732,231 | $10M | 8.5% | 2026-Q1 |
| VAN ECK ASSOCIATES CORP trimmed | 591,928 | $8M | 6.9% | 2026-Q1 |
| MORGAN STANLEY added | 338,072 | $5M | 3.9% | 2026-Q1 |
| PFG Advisors added | 315,330 | $4M | 3.7% | 2026-Q1 |
| Legal & General Group Plc added | 300,698 | $4M | 3.5% | 2026-Q1 |
| BlackRock, Inc. trimmed | 207,403 | $3M | 2.4% | 2026-Q1 |
| OUTFITTERS FINANCIAL LLC added | 205,120 | $3M | 2.4% | 2026-Q1 |
| LPL Financial LLC trimmed | 187,438 | $3M | 2.2% | 2026-Q1 |
| BLAIR WILLIAM & CO/IL trimmed | 145,754 | $2M | 1.7% | 2026-Q1 |
| DAVENPORT & Co LLC added | 139,862 | $2M | 1.6% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL added | 125,209 | $2M | 1.5% | 2026-Q1 |
| Legacy Capital Wealth Partners, LLC added | 119,068 | $2M | 1.4% | 2026-Q1 |
| Advisors Asset Management, Inc. added | 108,973 | $2M | 1.3% | 2026-Q1 |
| Squarepoint Ops LLC added | 103,510 | $1M | 1.2% | 2026-Q1 |
| Atlantic Union Bankshares Corp | 97,164 | $1M | 1.1% | 2026-Q1 |
| OSAIC HOLDINGS, INC. added | 95,255 | $1M | 1.1% | 2026-Q1 |
| Baird Financial Group, Inc. trimmed | 90,300 | $1M | 1.0% | 2026-Q1 |
| Cassaday & Co Wealth Management LLC trimmed | 79,000 | $1M | 0.9% | 2026-Q1 |
| United Advisor Group, LLC added | 77,612 | $1M | 0.9% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 69,763 | $991K | 0.8% | 2026-Q1 |
| ALBERT D MASON INC added | 67,936 | $965K | 0.8% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 58,179 | $826K | 0.7% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 47,934 | $681K | 0.6% | 2026-Q1 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP added | 46,142 | $655K | 0.5% | 2026-Q1 |
| CANADA LIFE ASSURANCE Co trimmed | 43,425 | $621K | 0.5% | 2026-Q1 |
| Invesco Ltd. trimmed | 43,241 | $614K | 0.5% | 2026-Q1 |
| Virtus Investment Advisers, LLC trimmed | 41,033 | $583K | 0.5% | 2026-Q1 |
| Garner Asset Management Corp trimmed | 34,493 | $490K | 0.4% | 2026-Q1 |
| Cetera Investment Advisers added | 31,653 | $449K | 0.4% | 2026-Q1 |
| COMMONWEALTH EQUITY SERVICES, LLC added | 29,188 | $414K | 0.3% | 2026-Q1 |
| INDEPENDENT FINANCIAL GROUP, LLC trimmed | 24,978 | $355K | 0.3% | 2026-Q1 |
| Focus Partners Wealth added | 20,743 | $295K | 0.2% | 2026-Q1 |
| AMERIFLEX GROUP, INC. added | 19,358 | $275K | 0.2% | 2026-Q1 |
| Janney Montgomery Scott LLC trimmed | 18,511 | $263K | 0.2% | 2026-Q1 |
| GREENWOOD GEARHART LLC new | 17,900 | $254K | 0.2% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN added | 17,418 | $247K | 0.2% | 2026-Q1 |
| SIMPLEX TRADING, LLC added | 15,997 | $227K | 0.2% | 2026-Q1 |
| Prosperity Financial Group, Inc. trimmed | 15,700 | $223K | 0.2% | 2026-Q1 |
| Private Advisor Group, LLC added | 14,628 | $208K | 0.2% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC added | 13,959 | $198K | 0.2% | 2026-Q1 |
| Creative Planning trimmed | 13,246 | $188K | 0.2% | 2026-Q1 |
| Foundations Investment Advisors, LLC added | 12,116 | $172K | 0.1% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 12,015 | $171K | 0.1% | 2026-Q1 |
| HighTower Advisors, LLC new | 11,572 | $164K | 0.1% | 2026-Q1 |
| Hardy Reed LLC added | 11,300 | $160K | 0.1% | 2026-Q1 |
| First Affirmative Financial Network new | 10,903 | $155K | 0.1% | 2026-Q1 |
| Sound Income Strategies, LLC | 10,740 | $154K | 0.1% | 2026-Q1 |
| NorthRock Partners, LLC | 10,262 | $146K | 0.1% | 2026-Q1 |
| Prime Capital Investment Advisors, LLC trimmed | 10,258 | $146K | 0.1% | 2026-Q1 |
| Abel Hall, LLC | 10,000 | $142K | 0.1% | 2026-Q1 |
| HRT FINANCIAL LP trimmed | 10,017 | $142K | 0.1% | 2026-Q1 |
| Register Financial Advisors LLC | 9,500 | $135K | 0.1% | 2026-Q1 |
| State of Wyoming trimmed | 9,421 | $134K | 0.1% | 2026-Q1 |
| JPMORGAN CHASE & CO trimmed | 6,143 | $87K | 0.1% | 2026-Q1 |
| Allworth Financial LP added | 5,196 | $74K | 0.1% | 2026-Q1 |
| North Star Investment Management Corp. | 5,000 | $71K | 0.1% | 2026-Q1 |
| Union Bancaire Privee, UBP SA trimmed | 3,570 | $51K | 0.0% | 2026-Q1 |
| QUADRANT CAPITAL GROUP LLC | 37 | $49K | 0.0% | 2026-Q1 |
| Steward Partners Investment Advisory, LLC | 3,000 | $43K | 0.0% | 2026-Q1 |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | 2,190 | $31K | 0.0% | 2026-Q1 |
| Kentucky Trust Co | 2,000 | $28K | 0.0% | 2026-Q1 |
| Burk Holdings LLC new | 1,706 | $24K | 0.0% | 2026-Q1 |
| Ritter Daniher Financial Advisory LLC / DE added | 1,570 | $22K | 0.0% | 2026-Q1 |
| NOMURA ASSET MANAGEMENT CO LTD added | 1,467 | $21K | 0.0% | 2026-Q1 |
| MAI Capital Management | 1,407 | $20K | 0.0% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 1,388 | $19K | 0.0% | 2026-Q1 |
| SIGNATUREFD, LLC added | 1,080 | $15K | 0.0% | 2026-Q1 |
| FIFTH THIRD BANCORP new | 1,049 | $15K | 0.0% | 2026-Q1 |
| DHJJ Financial Advisors, Ltd. added | 1,005 | $14K | 0.0% | 2026-Q1 |
| MARSHALL WACE, LLP trimmed | 164,583 | $2M | 1.9% | 2025-Q4 stale |
| TWO SIGMA ADVISERS, LP added | 111,418 | $2M | 1.3% | 2025-Q4 stale |
| MILLENNIUM MANAGEMENT LLC trimmed | 44,546 | $616K | 0.5% | 2025-Q3 stale |
| Realta Investment Advisors added | 42,227 | $603K | 0.5% | 2025-Q2 stale |
| D. E. Shaw & Co., Inc. trimmed | 43,149 | $596K | 0.5% | 2025-Q3 stale |
| TrueMark Investments, LLC new | 41,678 | $582K | 0.5% | 2025-Q4 stale |
| GLOBAL STRATEGIC MANAGEMENT INC trimmed | 39,032 | $545K | 0.4% | 2025-Q4 stale |
| Qube Research & Technologies Ltd added | 35,970 | $481K | 0.4% | 2025-Q1 stale |
| Magnetar Financial LLC new | 30,090 | $416K | 0.3% | 2025-Q3 stale |
| NORTHERN TRUST CORP trimmed | 25,342 | $354K | 0.3% | 2025-Q4 stale |
| NewEdge Advisors, LLC added | 20,460 | $286K | 0.2% | 2025-Q4 stale |
| Mirae Asset Global Investments Co., Ltd. | 14,000 | $196K | 0.2% | 2025-Q4 stale |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC added | 13,500 | $193K | 0.2% | 2025-Q2 stale |
| Virtu Financial LLC trimmed | 12,592 | $180K | 0.1% | 2025-Q2 stale |
| BANK OF AMERICA CORP /DE/ added | 12,389 | $173K | 0.1% | 2025-Q4 stale |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC new | 12,098 | $168K | 0.1% | 2025-Q4 stale |
| Verition Fund Management LLC new | 11,054 | $153K | 0.1% | 2025-Q3 stale |
| Equitable Holdings, Inc. added | 10,602 | $151K | 0.1% | 2025-Q2 stale |
| Cornerstone Wealth Management, LLC trimmed | 10,479 | $150K | 0.1% | 2025-Q2 stale |
| Mariner, LLC trimmed | 10,114 | $140K | 0.1% | 2025-Q3 stale |
| Geneos Wealth Management Inc. added | 9,001 | $124K | 0.1% | 2025-Q3 stale |
| Quantbot Technologies LP added | 7,392 | $105K | 0.1% | 2025-Q2 stale |
| Aquatic Capital Management LLC added | 3,562 | $50K | 0.0% | 2025-Q4 stale |
| CITADEL ADVISORS LLC trimmed | 3,309 | $44K | 0.0% | 2025-Q1 stale |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO added | 3,000 | $40K | 0.0% | 2025-Q1 stale |
| First Horizon Advisors, Inc. new | 2,259 | $32K | 0.0% | 2025-Q2 stale |
| NATIONAL BANK OF CANADA /FI/ added | 2,000 | $28K | 0.0% | 2025-Q4 stale |
| Kestra Advisory Services, LLC trimmed | 1,870 | $26K | 0.0% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.