Gladstone Institutional Advisory LLC reports 9.26% decrease in ownership of CSCO / Cisco Systems, Inc.

시스코 시스템즈, Inc.

MX ˙ BMV ˙ US17275R1023

Security	MX:CSCO / Cisco Systems, Inc.
Institution	Gladstone Institutional Advisory LLC
Latest Disclosed Ownership	121,182 shares
Latest Disclosed Value	$ 9,402,540

On May 14, 2026 - Gladstone Institutional Advisory LLC filed a 13F-HR form disclosing ownership of 121,182 shares of Cisco Systems, Inc. (MX:CSCO) valued at $9,402,540 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 133,546 shares of Cisco Systems, Inc.. This represents a change in shares of -9.26% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)

File Date	Effective Date	Form	Security	Class	ID	Reported Shares	ΔShares	ΔShares (%)	Reported Value (x1000)	ΔValue (%)	Alloc (%)
2026-05-14	2026-03-31	13F	CISCO SYS	COM	17275R102	121,182	-12,364	-9.26	9,403	-8.60	0.3484
2026-02-17	2025-12-31	13F	CISCO SYS	COM	17275R102	133,546	-245	-0.18	10,287	12.39	0.3885
2025-10-22	2025-09-30	13F	CISCO SYS	COM	17275R102	133,791	24,876	22.84	9,154	21.14	0.3525
2025-08-12	2025-06-30	13F	CISCO SYS	COM	17275R102	108,915	27,364	33.55	7,557	50.16	0.3122
2025-05-15	2025-03-31	13F	CISCO SYS	COM	17275R102	81,551	-275	-0.34	5,033	3.88	0.2346
2025-01-29	2024-12-31	13F	CISCO SYS	COM	17275R102	81,826	-4,115	-4.79	4,844	5.93	0.2247
2024-10-28	2024-09-30	13F	CISCO SYS	COM	17275R102	85,941	-5,060	-5.56	4,574	5.78	0.2233
2024-08-02	2024-06-30	13F	CISCO SYS	COM	17275R102	91,001	-5,528	-5.73	4,323	-10.26	0.2251
2024-05-14	2024-03-31	13F	CISCO SYS	COM	17275R102	96,529	-35,800	-27.05	4,818	-27.94	0.2643
2024-02-09	2023-12-31	13F	CISCO SYS	COM	17275R102	132,329	9,589	7.81	6,685	1.32	0.3750
2023-11-13	2023-09-30	13F	CISCO SYS	COM	17275R102	122,740	4,958	4.21	6,598	8.27	0.4273
2023-08-10	2023-06-30	13F	CISCO SYS	COM	17275R102	117,782	-1,394	-1.17	6,094	-2.17	0.3715
2023-05-12	2023-03-31	13F	CISCO SYS	COM	17275R102	119,176	14,403	13.75	6,230	24.80	0.4034
2023-02-01	2022-12-31	13F	CISCO SYS	COM	17275R102	104,773	-7,108	-6.35	4,991	11.53	0.3523
2023-01-30	2022-09-30	13F/A-1	CISCO SYS	COM	17275R102	111,881	18,259	19.50	4,475	12.10	0.3498
2022-10-20	2022-09-30	13F	CISCO SYS	COM	17275R102	111,881	18,259		4,475		0.3498
2023-01-30	2022-06-30	13F/A-1	CISCO SYS	COM	17275R102	93,622	22,536	31.70	3,992	0.71	0.3157
2022-08-15	2022-06-30	13F	CISCO SYS	COM	17275R102	93,622	22,536		3,992		0.3157
2023-01-30	2022-03-31	13F/A-1	CISCO SYS	COM	17275R102	71,086	-5,722	-7.45	3,964	-18.55	0.2680
2022-05-04	2022-03-31	13F	CISCO SYS	COM	17275R102	71,086	-5,722		3,964		0.2680
2023-01-30	2021-12-31	13F/A-1	CISCO SYS	COM	17275R102	76,808	16,062	26.44	4,867	47.22	0.3770
2022-02-11	2021-12-31	13F	CISCO SYS	COM	17275R102	76,808	16,062		4,867		0.3770
2023-01-30	2021-09-30	13F/A-1	CISCO SYS	COM	17275R102	60,746	26,900	79.48	3,306	84.28	0.3229
2021-11-15	2021-09-30	13F	CISCO SYS	COM	17275R102	60,746	26,900		3,306		0.3229
2023-01-30	2021-06-30	13F/A-1	CISCO SYS	COM	17275R102	33,846	12,253	56.75	1,794	60.61	0.2131
2021-08-13	2021-06-30	13F	CISCO SYS	COM	17275R102	33,846	12,253		1,794		0.2131
2023-01-30	2021-03-31	13F/A-1	CISCO SYS	COM	17275R102	21,593	13,710	173.92	1,117	216.43	0.1736
2021-05-17	2021-03-31	13F	CISCO SYS	COM	17275R102	21,593	13,710		1,117		0.1736
2023-01-30	2020-12-31	13F/A-1	CISCO SYS	COM	17275R102	7,883	-2,842	-26.50	353	-16.35	0.0703
2021-02-16	2020-12-31	13F	CISCO SYS	COM	17275R102	7,883	-2,842		353		0.0703
2023-01-30	2020-09-30	13F/A-1	CISCO SYS	COM	17275R102	10,725	1,801	20.18	422	1.44	0.1008
2020-11-16	2020-09-30	13F	CISCO SYS	COM	17275R102	10,725	1,801		422		0.1008
2020-08-17	2020-06-30	13F	CISCO SYS	COM	17275R102	8,924	-7,365	-45.21	416	-35.00	0.1058
2020-05-14	2020-03-31	13F	CISCO SYS	COM	17275R102	16,289	1,165	7.70	640	-11.85	0.1651
2020-02-12	2019-12-31	13F	CISCO SYS	COM	17275R102	15,124	-5,610	-27.06	726	-29.17	0.1780
2019-11-13	2019-09-30	13F	CISCO SYS	COM	17275R102	20,734	1,856	9.83	1,025	-0.87	0.2607
2019-08-14	2019-06-30	13F	CISCO SYS	COM	17275R102	18,878	2,929	18.36	1,034	20.09	0.3150
2019-05-10	2019-03-31	13F	CISCO SYS	COM	17275R102	15,949	7,161	81.49	861	125.98	0.3160
2019-02-13	2018-12-31	13F	CISCO SYS	COM	17275R102	8,788	8,788		381		0.2219

Legend

Shares: The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value: The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price: The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class: This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred

Allocation (%): The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation: The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%): The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis: The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss: This is the market value of the position as of the effective date minus the cost basis.