Here are the 10-Q quarterly reports from Great Elm Capital Corp. 7.75% Notes Due 2030 (GECCG) 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-Q covers the quarterly report filed between annual reports, so if you follow GECCG 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 GECCG filings page.
Great Elm Capital Corp. (GECC) reported results for the three and nine months ended September 30, 2026. Total investment income was $8.694 million for the quarter, compared with $10.642 million in the same period of 2025. For the nine-month period, it was $29.134 million, versus $37.414 million. The company attributed lower interest income primarily to a smaller debt-investment portfolio.
The investment portfolio had a fair value of $245.442 million as of September 30, 2026. For the nine months ended that date, acquisitions were $87.410 million and dispositions were $131.181 million. The weighted average yield on debt securities at the end of the September quarter was 11.43%.
Net cash provided by operating activities was approximately $49.9 million, while financing activities used $51.8 million during the nine months ended September 30, 2026. As of September 30, 2026, short-term investments in money market funds were approximately $5.6 million, and borrowings outstanding under the revolving credit facility were $6.0 million.
Great Elm Capital Corp. is a business development company focused on secured debt and income‑generating equity in middle‑market borrowers, specialty finance platforms and CLO equity. The investment portfolio’s fair value was 268,286 (in thousands) at June 30, 2026, down from 298,268 (in thousands) at December 31, 2025, with largest exposures to structured finance, specialty finance, technology and consumer products.
For the six months ended June 30, 2026, total investment income was 20,440 (in thousands), below 26,772 (in thousands) a year earlier as lower average coupon rates and a smaller debt portfolio reduced interest income. Net expenses fell to 10,780 (in thousands), helped by the adviser’s waiver of 3.7 million of previously accrued incentive fees, which increased net income and net asset value.
GECC reported net realized gains of 5,575 (in thousands), mainly from Stone Ridge Opportunities Fund LP, CW Opportunity 2 LP and American Coastal Insurance Corp. securities. It also recorded net unrealized depreciation of 9,379 (in thousands), driven by declines in CLO JV, Universal Fiber Systems and Great Elm Specialty Finance, partly offset by recoveries on Del Monte Foods and other positions. The debt portfolio’s weighted average yield was 11.10% at quarter‑end, including non‑accruals.
Great Elm Capital Corp. reports softer first-quarter 2026 results as its investment portfolio shrinks and unrealized losses rise. Total investment income was $9.5 million, down from $12.5 million a year earlier, reflecting a smaller, lower-yielding debt book. Total expenses were $4.5 million, but advisory costs turned negative after the external manager waived $2.8 million of accrued incentive fees, boosting net income and net asset value.
The portfolio’s fair value declined to $267.2 million from $298.3 million at year-end 2025, with a weighted average debt yield of 11.56%. Realized gains of $2.6 million were offset by $8.4 million of net unrealized depreciation, driven primarily by CLO and Universal Fiber holdings. Liquidity included $9.6 million in money market investments, and notes payable totaled $174.0 million, mainly maturing between three and five years.