AUTOMATIC DATA PROCESSING IN

Ticker: ADP CUSIP: 053015103 Class: COM

Gladstone Institutional Advisory LLC's Holding History (CIK: 0001766530)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 5,467 Value ($000) $1,406 Avg Close $264.83 Range $245.59 - $291.75

Q3 2025

Shares 5,931 Value ($000) $1,741 Avg Close $297.80 Range $280.46 - $312.33

Q2 2025

Shares 5,774 Value ($000) $1,781 Avg Close $302.36 Range $268.13 - $324.50

Q1 2025

Shares 5,420 Value ($000) $1,656 Avg Close $295.41 Range $279.29 - $315.84

Q4 2024

Shares 5,048 Value ($000) $1,478 Avg Close $287.90 Range $266.14 - $301.35

Q3 2024

Shares 4,479 Value ($000) $1,240 Avg Close $253.49 Range $223.96 - $274.02

Q2 2024

Shares 4,419 Value ($000) $1,055 Avg Close $236.61 Range $228.77 - $245.17

Q1 2024

Shares 4,340 Value ($000) $1,084 Avg Close $234.26 Range $221.78 - $245.61

Q4 2023

Shares 5,231 Value ($000) $1,219 Avg Close $222.04 Range $195.57 - $239.12

Q3 2023

Shares 4,265 Value ($000) $1,026 Avg Close $231.16 Range $204.74 - $243.17

Q2 2023

Shares 4,533 Value ($000) $996 Avg Close $203.27 Range $189.64 - $210.89

Q1 2023

Shares 4,514 Value ($000) $1,005 Avg Close $211.47 Range $197.72 - $230.89

Q4 2022

Shares 9,400 Value ($000) $2,245 Avg Close $228.99 Range $203.81 - $257.33

Q3 2022

Shares 9,639 Value ($000) $2 Avg Close $219.07 Range $190.70 - $242.63

Q2 2022

Shares 6,482 Value ($000) $1 Avg Close $202.51 Range $182.36 - $222.13

Q1 2022

Shares 6,306 Value ($000) $1 Avg Close $196.92 Range $176.60 - $227.31

Q4 2021

Shares 6,386 Value ($000) $2 Avg Close $207.28 Range $180.16 - $228.68

Q3 2021

Shares 6,183 Value ($000) $1 Avg Close $187.71 Range $179.33 - $197.68

Q2 2021

Shares 4,885 Value ($000) $1 Avg Close $176.27 Range $167.48 - $182.39

Q1 2019

Shares 1,593 Value ($000) $254 Avg Close $125.45 Range $108.70 - $138.61

Q4 2018

Shares 1,727 Value ($000) $226 Avg Close $121.16 Range $104.68 - $131.62

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	5,467	$1,406	$264.83	$245.59 - $291.75
Q3 2025	5,931	$1,741	$297.80	$280.46 - $312.33
Q2 2025	5,774	$1,781	$302.36	$268.13 - $324.50
Q1 2025	5,420	$1,656	$295.41	$279.29 - $315.84
Q4 2024	5,048	$1,478	$287.90	$266.14 - $301.35
Q3 2024	4,479	$1,240	$253.49	$223.96 - $274.02
Q2 2024	4,419	$1,055	$236.61	$228.77 - $245.17
Q1 2024	4,340	$1,084	$234.26	$221.78 - $245.61
Q4 2023	5,231	$1,219	$222.04	$195.57 - $239.12
Q3 2023	4,265	$1,026	$231.16	$204.74 - $243.17
Q2 2023	4,533	$996	$203.27	$189.64 - $210.89
Q1 2023	4,514	$1,005	$211.47	$197.72 - $230.89
Q4 2022	9,400	$2,245	$228.99	$203.81 - $257.33
Q3 2022	9,639	$2	$219.07	$190.70 - $242.63
Q2 2022	6,482	$1	$202.51	$182.36 - $222.13
Q1 2022	6,306	$1	$196.92	$176.60 - $227.31
Q4 2021	6,386	$2	$207.28	$180.16 - $228.68
Q3 2021	6,183	$1	$187.71	$179.33 - $197.68
Q2 2021	4,885	$1	$176.27	$167.48 - $182.39
Q1 2019	1,593	$254	$125.45	$108.70 - $138.61
Q4 2018	1,727	$226	$121.16	$104.68 - $131.62