GECC
Great Elm Capital
Portfolio Fair Value
$276.76M
83 holdings
Avg Spread
+7.25%
FV-weighted, debt
Avg Coupon
10.37%
FV-weighted
% First Lien
48.9%
of debt FV
Unrealized P/L
-$71.47M
-20.52% of cost
Non-Accrual
9
text-detected
Balance sheet
Assets$282.76M
Liabilities + Equity$282.76M
First Lien
$135.21M · 47.8%
First Lien
$135.21M · 47.8%
Second Lien
$13.75M · 4.9%
Subordinated
$25.32M · 9.0%
Other Debt
$15.15M · 5.4%
CLO
$6.48M · 2.3%
LP Interest
$6.50M · 2.3%
Equity
$63.78M · 22.6%
Equity
$63.78M · 22.6%
Other
$10.57M · 3.7%
Other Assets
$6.00M · 2.1%
Debt (Borrowings)
$169.14M · 59.8%
Debt (Borrowings)
$169.14M · 59.8%
Other Liabilities
$6.14M · 2.2%
Net Assets (Equity)
$107.48M · 38.0%
Net Assets (Equity)
$107.48M · 38.0%
Industry Composition
Specialty Finance
13.7%
Structured Finance
13.6%
Consumer Products
9.5%
Technology
8.5%
Insurance
6.7%
Industrial
4.9%
Food & Staples
4.8%
Chemicals
4.1%
LP Interest
3.9%
Short-Term Investments
3.5%
Metals & Mining
3.0%
Media
2.5%
Other industries
21.3%
Spread Distribution
2.5%
3.5%
4.0%
4.5%
5.5%
6.5%
7.5%
8.5%
10.0%
12.0%
16.0%
Schedule of Investments
All holdings
All holdings
Sortable, click headers to re-sort
83 of 83
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
CLO Formation JV, LLC | Structured Finance | Common Equity | $37.59M | $52.36M | -$14.77M | — | — | — |
Great Elm Specialty Finance, LLC | Specialty Finance | Subordinated Note | $25.32M | $25.32M | $0.00 | 13.00% | — | 2026-06-30 |
Great Elm Specialty Finance, LLC | Specialty Finance | Common Equity | $12.46M | $17.00M | -$4.54M | — | — | — |
Coreweave Compute Acquisition Co. II, LLC | Technology | 1st Lien, Secured Loan | $11.16M | $10.91M | $245.0K | 13.30% | +9.62% | 2028-07-31 |
Vivos Holdings, LLC | Consumer Products | 2nd Lien, Secured Loan | $10.52M | $10.37M | $148.0K | — | +10.00% | 2031-02-13 |
MFB Northern Inst Funds Treas Portfolio Premier CL | Short-Term Investments | Money Market | $9.60M | $9.60M | $0.00 | — | — | — |
American Coastal Insurance Corp. | Insurance | Unsecured Bond | $7.95M | $6.05M | $1.90M | 7.25% | — | 2027-12-15 |
NY Daily News Enterprises, LLC | Media | Media Security 1st Lien, Secured Loan Interest Rate 9.00% Initial Acquisition Date 2/4/2026 Maturity 2/4/2029 | $7.00M | $7.00M | $0.00 | — | — | 2029-02-04 |
Trouvaille Re Ltd. | Insurance | Preference Shares | $6.97M | $5.00M | $1.98M | — | — | — |
Mad Engine Global, LLC | Apparel | 1st Lien, Secured Loan | $6.48M | $6.99M | -$501.0K | 10.96% | +7.00% | 2027-07-15 |
NGC CLO 2 Ltd. | Structured Finance | CLO Equity | $6.48M | $6.19M | $292.0K | — | — | — |
Dorel Industries Inc. | Consumer Products | 1st Lien, Secured Loan | $6.47M | $6.55M | -$84.0K | — | +11.17% | 2030-09-30 |
Universal Fiber Systems | Chemicals | 1st Lien, Secured Loan | $6.33M | $6.02M | $308.0K | — | +12.00% | 2028-09-30 |
CW Opportunity 2 LP | Technology | Private Fund | $6.27M | $4.08M | $2.18M | — | — | — |
Foresight Energy | Metals & Mining | 1st Lien, Secured Loan | $5.50M | $5.82M | -$310.0K | 11.80% | +8.00% | 2027-06-30 |
Ipsen US Holdings, Inc. | Industrial | 1st Lien, Secured Loan | $5.47M | $5.55M | -$72.0K | — | +12.05% | 2029-07-31 |
ProFrac Holdings II, LLC | Energy Services | 1st Lien, Secured Bond | $5.28M | $5.33M | -$53.0K | 11.21% | +7.25% | 2029-01-23 |
Vivos Holdings, LLC | Consumer Products | 1st Lien, Secured Loan | $4.63M | $4.68M | -$49.0K | 9.68% | +6.00% | 2030-08-13 |
Form Technologies LLC | Industrial | 1st Lien, Secured Loan | $4.27M | $4.64M | -$370.0K | 9.42% | +5.75% | 2030-07-19 |
Commercial Vehicle Group, Inc. | Transportation Equipment Manufacturing | 1st Lien, Secured Loan | $4.19M | $4.08M | $111.0K | 13.52% | +9.75% | 2030-06-27 |
Invesco Senior Loan | Credit Fund | Common Equity | $4.18M | $4.26M | -$80.0K | — | — | — |
FPL Food LLC | Food & Staples | 1st Lien, Secured Loan | $4.00M | $4.00M | $0.00 | 11.50% | +3.25% | 2027-02-13 |
SCIH Salt Holdings Inc. | Food & Staples | 1st Lien, Secured Loan | $3.98M | $3.99M | -$10.0K | 6.35% | +2.75% | 2029-01-31 |
Ryan, LLC | Business Services | 1st Lien, Secured Loan 1M SOFR + 3.50% (7.17%) | $3.86M | $3.98M | -$117.0K | 7.17% | +3.50% | 2032-11-05 |
EagleView Technology Corp | Technology | 1st Lien, Secured Loan | $3.85M | $4.15M | -$298.0K | — | +6.50% | 2028-08-14 |
ACTIV8 Health, LLC | Insurance | 1st Lien, Secured Loan | $3.65M | $3.66M | -$5.0K | 9.41% | +5.75% | 2031-02-03 |
Coreweave Compute Acquisition Co. IV, LLC | Technology | 1st Lien, Secured Loan | $2.97M | $2.88M | $91.0K | 9.67% | +6.00% | 2030-05-16 |
Goodnight Water Solutions, LLC | Energy Midstream | 1st Lien, Secured Loan | $2.94M | $2.94M | -$4.0K | 7.67% | +4.00% | 2029-06-04 |
Advancion | Chemicals | 1st Lien, Secured Loan | $2.84M | $2.94M | -$107.0K | 7.77% | +4.00% | 2027-11-24 |
Ruby Tuesday Operations LLC | Restaurants | 1st Lien, Secured Loan | $2.61M | $2.66M | -$47.0K | — | +12.00% | 2027-02-24 |
Northeast Grocery Inc | Food & Staples | 1st Lien, Secured Loan | $2.61M | $2.63M | -$17.0K | 11.15% | +7.50% | 2028-12-13 |
ITG Communications LLC | Industrial | 1st Lien, Secured Loan | $2.42M | $2.44M | -$19.0K | 8.45% | +4.75% | 2031-07-09 |
VCI Asset Holdings 2 LLC | Technology | 1st Lien, Secured Loan | $2.33M | $2.26M | $70.0K | 7.38% | — | 2031-02-13 |
DS Admiral Bidco, LLC | Technology | 1st Lien, Secured Loan | $2.33M | $2.46M | -$137.0K | 7.95% | +4.25% | 2031-06-26 |
TruGreen LP | Consumer Services | 1st Lien, Secured Loan | $2.15M | $2.21M | -$64.0K | 7.77% | +4.00% | 2027-11-02 |
Vivos Holdings, LLC | Consumer Products | Promissory Note | $2.07M | $2.07M | $0.00 | — | — | 2032-08-13 |
Elevate Textiles, Inc. | Textiles | 1st Lien, Secured Loan | $2.02M | $2.26M | -$242.0K | — | +6.50% | 2027-09-30 |
JFL-Tiger Acquisition Co Inc | Environmental Services | 1st Lien, Secured Loan | $2.00M | $2.00M | $0.00 | 7.43% | +3.75% | 2030-10-17 |
PFI Lower Midco LLC | Food & Staples | 1st Lien, Secured Loan | $2.00M | $1.99M | $5.0K | 7.67% | +4.00% | 2032-12-01 |
ECL Entertainment, LLC | Casinos & Gaming | 1st Lien, Secured Loan | $1.98M | $1.99M | -$13.0K | 6.67% | +3.00% | 2030-08-31 |
Inmar Inc. | Consumer Services | 1st Lien, Secured Loan | $1.95M | $1.99M | -$41.0K | 8.17% | +4.50% | 2031-10-30 |
Trident TPI Holding, Inc. | Packaging | Unsecured Bond | $1.95M | $2.03M | -$81.0K | 12.75% | — | 2028-12-31 |
W&T Offshore, Inc. | Oil & Gas Exploration & Production | 2nd Lien, Secured Bond | $1.95M | $1.63M | $313.0K | 10.75% | — | 2029-02-02 |
CMI Marketing, Inc. | Marketing Services | 1st Lien, Secured Loan | $1.86M | $1.87M | -$9.0K | 8.03% | +4.25% | 2028-03-23 |
Universal Fiber Systems | Chemicals | Common Equity | $1.84M | $6.81M | -$4.97M | — | — | — |
Auction.com | Financial Services | 1st Lien, Secured Loan | $1.66M | $1.92M | -$260.0K | 9.63% | +6.00% | 2028-05-26 |
MajorDrive Holdings IV, LLC | Consumer Products | Unsecured Bond | $1.48M | $1.49M | -$11.0K | 6.38% | — | 2029-06-01 |
Conuma Resources LTD | Metals & Mining | 1st Lien, Secured Bond | $1.43M | $1.38M | $53.0K | 13.13% | — | 2028-05-01 |
Walor North America, Inc | Industrial | 1st Lien, Secured Loan | $1.36M | $1.37M | -$6.0K | 9.55% | +5.75% | 2028-06-17 |
PowerStop LLC | Transportation Equipment Manufacturing | 1st Lien, Secured Bond | $1.36M | $1.50M | -$143.0K | 8.55% | +4.75% | 2029-01-26 |
Victra Holdings, LLC | Retail | 1st Lien, Secured Loan | $1.33M | $1.35M | -$17.0K | 7.45% | +3.75% | 2029-03-31 |
TruGreen LP | Consumer Services | 2nd Lien, Secured Loan | $1.28M | $1.24M | $49.0K | 12.43% | +8.50% | 2028-11-02 |
Thryv, Inc. | Marketing Services | 1st Lien, Secured Loan | $1.19M | $1.21M | -$17.0K | 10.42% | +6.75% | 2029-05-01 |
Conuma Resources LTD | Metals & Mining | 1st Lien, Secured Bond | $1.09M | $1.14M | -$51.0K | 13.13% | — | 2028-05-01 |
Natus Medical Inc | Healthcare | 1st Lien, Secured Loan | $990.0K | $998.0K | -$8.0K | 9.10% | +5.25% | 2029-07-20 |
Maverick Gaming LLC | Casinos & Gaming | Jr. DIP | $970.0K | $1.56M | -$587.0K | — | — | 2026-04-16 |
Trident TPI Holding, Inc. | Packaging | 1st Lien, Secured Loan | $943.0K | $944.0K | -$1.0K | 7.45% | +3.75% | 2028-09-18 |
Maverick Gaming LLC | Casinos & Gaming | Sr. DIP Loan | $907.0K | $905.0K | $2.0K | 16.17% | +12.50% | 2026-04-16 |
Confluence Technologies | Technology | 1st Lien, Secured Loan | $902.0K | $1.00M | -$103.0K | 7.60% | +3.75% | 2028-07-31 |
MajorDrive Holdings IV, LLC | Consumer Products | 1st Lien, Secured Loan | $902.0K | $918.0K | -$16.0K | 7.96% | +4.00% | 2028-06-01 |
Del Monte Foods Corp II Inc | Food & Staples | Jr. DIP Loan | $705.0K | $2.52M | -$1.81M | — | — | 2026-06-01 |
Flexsys Cayman Holdings, LP | Chemicals | 1st Lien, Secured Loan | $365.0K | $5.20M | -$4.83M | 9.17% | +5.25% | 2029-08-01 |
New Wilkie Energy Pty Limited | Metals & Mining | 1st Lien, Secured Loan | $279.0K | $1.25M | -$971.0K | — | — | 2027-02-20 |
VCI Intermediate TopCo 2 LLC | Technology | Private Fund | $229.0K | $228.0K | $1.0K | — | — | — |
Commercial Vehicle Group, Inc. | Transportation Equipment Manufacturing | Tranche 1 Warrants | $194.0K | — | — | — | — | — |
Commercial Vehicle Group, Inc. | Transportation Equipment Manufacturing | Tranche 2 Warrants | $176.0K | — | — | — | — | — |
Ruby Tuesday Operations LLC | Restaurants | 1st Lien, Secured Loan | $175.0K | $177.0K | -$2.0K | — | +16.00% | 2027-02-24 |
Dorel Industries Inc. | Consumer Products | Warrants | $121.0K | — | — | — | — | — |
Vivos Holdings, LLC | Consumer Products | Promissory Note | $94.0K | $129.0K | -$35.0K | — | — | 2032-08-13 |
New Wilkie Energy Pty Limited | Metals & Mining | 1st Lien, Secured Loan | $92.0K | $103.0K | -$11.0K | — | — | 2027-02-20 |
TRU Taj Trust | Retail | Common Equity | $84.0K | $611.0K | -$527.0K | — | — | — |
Vivos Holdings, LLC | Consumer Products | Warrants | $81.0K | — | — | — | — | — |
Ruby Tuesday Operations LLC | Restaurants | Warrants | $74.0K | — | — | — | — | — |
First Brands, Inc. | Transportation Equipment Manufacturing | 2nd Lien, Secured Loan | $5.0K | $15.81M | -$15.81M | — | — | 2028-03-30 |
First Brands, Inc. | Transportation Equipment Manufacturing | 1st Lien, Secured Loan | $3.0K | $2.17M | -$2.17M | — | — | 2027-03-30 |
Del Monte Foods Corp II Inc | Food & Staples | 1st Lien, Secured Loan | $0.00 | $2.03M | -$2.03M | — | — | 2028-08-02 |
Del Monte Foods Corp II Inc | Food & Staples | 1st Lien, Secured Loan | $0.00 | $255.0K | -$255.0K | — | — | 2028-08-02 |
Maverick Gaming LLC | Casinos & Gaming | 1st Lien, Secured Loan | $0.00 | $6.35M | -$6.35M | — | — | 2028-06-03 |
New Wilkie Energy Pty Limited | Metals & Mining | 2nd Lien, Secured Loan | $0.00 | $4.46M | -$4.46M | — | — | — |
PFS Holdings Corp. | Food & Staples | Common Equity | $0.00 | $12.38M | -$12.38M | — | — | — |
Dynata, LLC (New Insight Holdings, Inc.) | Internet Media | Warrants | — | — | — | — | — | — |
Universal Fiber Systems | Chemicals | Common Equity | — | — | — | — | — | — |
Universal Fiber Systems | Chemicals | Common Equity | — | — | — | — | — | — |
Disclosed holdings FV
$276.76M
Parsed holdings FV
$276.76M
Residual gap
$0.00
Balance-sheet cash
—
CIK
0001675033
Accession
0001193125-26-204228
Form type
10-Q
Period
2026-03-31