Welcome to our dedicated page for Great Elm Capital SEC filings (Ticker: GECC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Great Elm Capital Corp. filings document the regulatory record of a business development company that invests in debt and income-generating equity securities. Form 8-K reports disclose operating results, selected financial information, portfolio credit updates, distributions and material events affecting the company’s investment portfolio and capital structure.
The filing record also covers governance and securities matters, including definitive proxy statements for annual stockholder meetings, board and executive changes, common stock disclosures, exchange-listed notes, indenture-based note redemptions and securities offering activity. These filings describe GECC’s BDC status, externally managed structure, risk disclosures, shareholder voting matters and capital-structure changes.
Great Elm Capital Corp. reported fourth quarter 2025 results showing strong income but significant valuation pressure. Total investment income was $12.6 million, generating net investment income of $4.4 million, or $0.31 per share, more than 50% higher than the prior quarter as higher cash income from investments flowed through.
However, net realized and unrealized losses of about $26.4 million, mostly unrealized, reduced net asset value from $10.01 to $8.07 per share, with full‑year net losses of $49.1 million. The board declared a $0.30 per share cash distribution for the first quarter of 2026, equating to a 19.2% annualized yield on the February 27, 2026 closing price of $6.26.
The company is also reshaping governance and its balance sheet. Jason Reese was appointed Executive Chairman, succeeding Matthew Drapkin, and the external adviser waived all accrued incentive fees of approximately $2.3 million, or $0.16 per share, as of December 31, 2025, plus first quarter 2026 incentive fees. GECC repurchased and called portions of its GECCO notes and authorized up to $10 million of common share repurchases, while ending 2025 with $5 million of cash, $50 million of undrawn revolver capacity, and about $11 million of liquid exchange‑traded assets.
Great Elm Capital Corp. (GECC) describes its business as a closed-end, externally managed BDC and RIC that seeks current income and capital appreciation by lending to middle‑market companies and specialty finance platforms. It focuses on secured and senior secured debt, CLO equity through its CLO Formation JV, LLC, and income‑generating equity in specialty finance businesses.
The filing highlights concentration in a limited number of portfolio companies and industries, with large positions in the CLO JV, Great Elm Specialty Finance, LLC, and Vivos Holdings, LLC. GECC outlines rigorous, research‑driven underwriting and ongoing monitoring, including detailed due diligence and active portfolio oversight.
The company explains its external management agreement with Great Elm Capital Management, LLC, including a 1.50% base management fee on average adjusted gross assets and performance‑based incentive fees tied to net investment income above a 7.00% annualized hurdle and to realized capital gains. It also discloses extensive risk factors, such as credit risk in middle‑market borrowers, distressed lending exposure, regulatory constraints of BDC and RIC status, cybersecurity, and potential conflicts of interest.
Great Elm Capital Corp. is redeeming $20,000,000 aggregate principal amount of its 5.875% Notes due 2026 on March 31, 2026. Holders will receive 100% of principal, or $25.00 per Note, plus any accrued and unpaid interest through, but excluding, the redemption date.
Interest from December 31, 2025 to March 31, 2026 will be paid on March 31, 2026 to holders of record as of March 15, 2026, so the company does not expect additional accrued interest outstanding on the redemption date. After redemption, interest on the redeemed Notes will cease to accrue and holders’ remaining right will be payment of the redemption price upon surrender.
Great Elm Capital Corp. filed a shelf prospectus to register the resale of 1,290,000 shares of its common stock by selling stockholders, including shares issued to Poor Richard LLC in a private placement on August 27, 2025 at $11.65 per share. The company will receive no proceeds from these secondary sales. The prospectus notes the last reported Nasdaq sale price of $6.79 as of February 18, 2026 and a net asset value per share of $10.02 as of September 30, 2025. The selling stockholders may sell shares at varying prices and by multiple methods, and sales may occur below NAV, which the prospectus warns could adversely affect market price.
Great Elm Capital Corp. (GECC) reported an insider purchase by its CEO and President. On 11/07/2025, the executive bought 19,650 shares of common stock in an open‑market transaction coded “P.” The weighted average price was $7.64, with individual trades executed between $7.55 and $7.74. Following this transaction, the executive beneficially owns 142,400 shares, held directly.
The filing notes the price is a weighted average and the reporting person will provide full trade-by-trade details upon request.
Great Elm Capital Corp. filed its quarterly report for the period ended September 30, 2025. The filing lists a broad schedule of investments spanning first- and second‑lien secured loans, secured and unsecured bonds, CLO equity, private funds, common equity and warrants across multiple industries including chemicals, technology, consumer services, metals & mining, retail, transportation, insurance and restaurants.
Many debt positions reference floating benchmarks such as 1‑month, 3‑month, and 6‑month SOFR or Prime, often with stated spreads, interest rate floors and cash/PIK components, with maturities extending into 2031. GECC’s securities are listed on the Nasdaq Global Market, including common stock GECC and notes GECCO, GECCI, GECCH, and GECCG. As of October 29, 2025, 13,998,168 common shares were outstanding.
Great Elm Capital Corp. (GECC) furnished an earnings press release as Exhibit 99.1 in a Form 8-K filed under Item 2.02. The company states the press release, dated November 4, 2025, is being furnished and not deemed filed under the Exchange Act, and thus is not subject to Section 18 liabilities nor incorporated by reference except as specifically indicated.
The filing also lists GECC’s securities on the Nasdaq Global Market, including common stock (GECC) and publicly traded notes: 5.875% Notes due 2026 (GECCO), 8.50% Notes due 2029 (GECCI), 8.125% Notes due 2029 (GECCH), and 7.75% Notes due 2030 (GECCG).
Great Elm Group, Inc. reports beneficial ownership of 1,358,276 shares of Great Elm Capital Corp. common stock, representing approximately 9.7% of 13,998,168 shares outstanding. The outstanding share count includes 1,139,790 shares issued under an at-the-market facility and 1,290,000 shares issued to Poor Richard LLC. Directors and executive officers of the reporting person beneficially own an additional 1,021,099 shares (about 7.9%).
The reporting person delivered 79,803 shares as employee compensation in connection with vesting events occurring between September 19, 2025 and September 23, 2025. All previously filed Schedule 13D information remains in effect except as amended by this statement.
Great Elm Capital Corp. filed a current report to share that it has furnished a press release with investors. The press release, attached as Exhibit 99.1, contains selected preliminary and unaudited financial information for the quarter ended September 30, 2025. Because the figures are preliminary and unaudited, they may change once the full quarterly reporting process is completed.
The company notes that the exhibit is being furnished rather than filed, which affects how it is treated under securities laws but still makes the information publicly available to the market.