Great Elm Capital · filed 2025-11-04
Total Fair Value
$468.20M
89 holdings
Unrealized P/L
-$55.23M
-10.55% vs cost
W. Avg Spread
+7.23%
debt, FV-weighted
W. Avg Coupon
13.21%
debt, FV-weighted
% First Lien
28.4%
by fair value
Non-Accrual
0
text-detected
Investment Type Allocation
Fair value by type
Industry Concentration
Top 10 industries by fair value
$468M
Total Fair Value
- Short-Term Investments18.9%
- Unclassified12.8%
- Structured Finance11.2%
- Technology8.3%
- Specialty Finance8.3%
- Insurance5.2%
- Chemicals4.9%
- Consumer Products3.7%
- Food & Staples3.5%
- Metals & Mining2.8%
- Other industries20.3%
Spread Distribution
Floating-rate debt holdings by 50bp spread bucket
All holdings
Sortable, click headers to re-sort
89 of 89
| Issuer | Industry | Type | Fair Value | Cost | Unrealized | Coupon | Spread | Maturity |
|---|---|---|---|---|---|---|---|---|
United States Treasury | Short-Term Investments | Treasury Bill | $64.36M | $64.36M | $0.00 | — | — | — |
CLO Formation JV, LLC | Structured Finance | Common Equity | $45.40M | $52.36M | -$6.96M | — | — | — |
CLO Subordinated Notes Apex Credit CLO 12Ltd | — | CLO Subordinated Notes | $27.63M | $29.99M | -$2.36M | 19.70% | — | — |
Great Elm Specialty Finance, LLC | Specialty Finance | Subordinated Note | $25.32M | $25.32M | $0.00 | 13.00% | — | 2026-06-30 |
MFB Northern Inst Funds Treas Portfolio Premier CL | Short-Term Investments | Money Market | $24.34M | $24.34M | $0.00 | — | — | — |
CLO Subordinated Notes Apex Credit CLO 2024-II Ltd | — | CLO Subordinated Notes | $22.91M | $26.52M | -$3.61M | 18.10% | — | — |
CW Opportunity 2 LP | Technology | Private Fund | $14.76M | $5.00M | $9.75M | — | — | — |
Great Elm Specialty Finance, LLC | Specialty Finance | Common Equity | $13.37M | $17.00M | -$3.63M | — | — | — |
American Coastal Insurance Corp. | Insurance | Unsecured Bond | $13.04M | $9.03M | $4.01M | 7.25% | — | 2027-12-15 |
Coreweave Compute Acquisition Co. II, LLC | Technology | 1st Lien, Secured Loan | $13.01M | $12.64M | $369.0K | 13.77% | +9.62% | 2028-07-31 |
Vivos Holdings, LLC | Consumer Products | 2nd Lien, Secured Loan | $9.69M | $9.67M | $22.0K | — | +10.00% | 2031-02-13 |
CLO Subordinated Notes Apex Credit CLO 2024-I Ltd | — | CLO Subordinated Notes | $9.60M | $9.78M | -$178.0K | 19.50% | — | — |
Manchester Acquisition Sub, LLC | Chemicals | 1st Lien, Secured Loan | $7.18M | $7.22M | -$45.0K | — | +5.75% | 2026-12-01 |
Inmar Inc. | Consumer Services | 1st Lien, Secured Loan | $7.16M | $7.17M | -$18.0K | 8.66% | +4.50% | 2031-10-30 |
NGC CLO 2 Ltd. | Structured Finance | CLO Equity | $6.91M | $6.19M | $717.0K | 16.60% | — | 2038-04-20 |
Trouvaille Re Ltd. | Insurance | Preference Shares | $6.63M | $5.00M | $1.63M | — | — | — |
W&T Offshore, Inc. | Oil & Gas Exploration & Production | 2nd Lien, Secured Bond | $6.17M | $6.15M | $29.0K | 10.75% | — | 2029-02-02 |
EagleView Technology Corp | Technology | 1st Lien, Secured Loan | $6.09M | $6.07M | $30.0K | — | +6.50% | 2028-08-14 |
Universal Fiber Systems | Chemicals | Common Equity | $6.08M | $6.81M | -$730.0K | — | — | — |
Globoforce Limited | Commercial Services | Factoring Participation | $6.00M | $6.00M | $0.00 | — | — | 2026-06-24 |
Mad Engine Global, LLC | Apparel | 1st Lien, Secured Loan | $5.70M | $5.96M | -$266.0K | 11.26% | +7.00% | 2027-07-15 |
ProFrac Holdings II, LLC | Energy Services | 1st Lien, Secured Bond | $5.69M | $5.72M | -$30.0K | 11.81% | +7.25% | 2029-01-23 |
Foresight Energy | Metals & Mining | 1st Lien, Secured Loan | $5.57M | $5.86M | -$291.0K | 12.10% | +8.00% | 2027-06-30 |
Ipsen US Holdings, Inc. | Industrial | 1st Lien, Secured Loan | $5.19M | $5.32M | -$129.0K | — | +12.09% | 2029-07-31 |
Commercial Vehicle Group, Inc. | Transportation Equipment Manufacturing | 1st Lien, Secured Loan | $4.84M | $4.84M | -$3.0K | 14.01% | +9.75% | 2030-06-27 |
Vivos Holdings, LLC | Consumer Products | 1st Lien, Secured Loan | $4.71M | $4.70M | $7.0K | 10.15% | +6.00% | 2030-08-13 |
Avation Capital SA | Aircraft | 2nd Lien, Secured Bond | $4.65M | $4.48M | $171.0K | 8.25% | — | 2026-10-31 |
Stone Ridge Opportunities Fund L.P. | Insurance | Private Fund | $4.45M | $2.39M | $2.06M | — | — | — |
Greenfire Resources Ltd. | Oil & Gas Exploration & Production | 1st Lien, Secured Bond | $4.40M | $4.10M | $303.0K | 12.00% | — | 2028-10-01 |
Form Technologies LLC | Industrial | 1st Lien, Secured Loan | $4.15M | $4.65M | -$503.0K | 10.08% | +5.75% | 2030-07-19 |
FPL Food LLC | Food & Staples | 1st Lien, Secured Loan | $4.02M | $4.00M | $20.0K | 11.50% | +3.25% | 2027-02-13 |
Del Monte Foods Corp II Inc | Food & Staples | Jr. DIP Loan | $3.94M | $3.94M | $3.0K | — | +9.50% | 2026-04-02 |
Advancion | Chemicals | 1st Lien, Secured Loan | $3.87M | $3.93M | -$59.0K | 8.26% | +4.00% | 2027-11-24 |
Dynata, LLC (New Insight Holdings, Inc.) | Internet Media | 1st Lien, Secured Loan | $3.85M | $4.73M | -$879.0K | 9.96% | +5.50% | 2028-10-15 |
FS KKR CAPITAL CORP | Closed-End Fund | Common Equity | $3.73M | $4.45M | -$712.0K | — | — | — |
Conuma Resources LTD | Metals & Mining | 1st Lien, Secured Bond | $3.61M | $4.13M | -$517.0K | 13.13% | — | 2028-05-01 |
Coreweave Compute Acquisition Co. IV, LLC | Technology | 1st Lien, Secured Loan | $3.38M | $3.27M | $109.0K | 10.23% | +6.00% | 2030-05-16 |
CSC ServiceWorks | Consumer Services | 1st Lien, Secured Loan | $3.34M | $3.55M | -$211.0K | 8.39% | +4.00% | 2028-03-04 |
Auction.com | Financial Services | 1st Lien, Secured Loan | $2.89M | $3.05M | -$153.0K | 10.04% | +6.00% | 2028-05-26 |
Del Monte Foods Corp II Inc | Food & Staples | Sr. DIP Loan | $2.71M | $2.63M | $78.0K | — | +9.50% | 2026-04-02 |
Ruby Tuesday Operations LLC | Restaurants | 1st Lien, Secured Loan | $2.59M | $2.63M | -$42.0K | — | +12.00% | 2027-02-24 |
Northeast Grocery Inc | Food & Staples | 1st Lien, Secured Loan | $2.54M | $2.54M | -$6.0K | 11.69% | +7.50% | 2028-12-13 |
Elevate Textiles, Inc. | Textiles | 1st Lien, Secured Loan | $2.11M | $2.12M | -$10.0K | — | +6.50% | 2027-09-30 |
Vivos Holdings, LLC | Consumer Products | Promissory Note | $2.04M | $2.04M | $0.00 | 4.50% | — | 2032-08-13 |
Quirch Foods, Co. | Food & Staples | 1st Lien, Secured Bond | $1.95M | $1.97M | -$12.0K | 9.05% | +4.75% | 2027-10-27 |
Flexsys Cayman Holdings, LP | Chemicals | 1st Lien, Secured Loan | $1.94M | $5.08M | -$3.14M | 9.71% | +5.25% | 2029-08-01 |
CMI Marketing, Inc. | Marketing Services | 1st Lien, Secured Loan | $1.88M | $1.88M | $0.00 | 8.53% | +4.25% | 2028-03-23 |
TruGreen LP | Consumer Services | 1st Lien, Secured Loan | $1.74M | $1.72M | $19.0K | 8.26% | +4.00% | 2027-11-02 |
First Brands, Inc. | Transportation Equipment Manufacturing | 1st Lien, Secured Loan | $1.69M | $4.77M | -$3.09M | — | — | 2027-03-30 |
DTI Holdco, Inc. | Business Services | 1st Lien, Secured Loan | $1.68M | $1.77M | -$93.0K | 8.16% | +4.00% | 2029-04-26 |
Dynata, LLC (New Insight Holdings, Inc.) | Internet Media | Common Equity | $1.61M | $11.23M | -$9.62M | — | — | — |
Maverick Gaming LLC | Casinos & Gaming | Jr. DIP Loan | $1.56M | $1.50M | $53.0K | — | +12.50% | 2026-04-16 |
Flexsys Cayman Holdings, LP | Chemicals | 1st Lien, Secured Loan | $1.55M | $1.79M | -$238.0K | 10.45% | +6.25% | 2029-08-01 |
Walor North America, Inc | Industrial | 1st Lien, Secured Loan | $1.50M | $1.50M | $0.00 | 10.03% | +5.75% | 2028-06-17 |
Advancion | Chemicals | 2nd Lien, Secured Loan | $1.47M | $1.55M | -$74.0K | 12.01% | +7.75% | 2028-11-24 |
Victra Holdings, LLC | Retail | 1st Lien, Secured Loan | $1.38M | $1.38M | $0.00 | 7.75% | +3.75% | 2029-03-31 |
Conuma Resources LTD | Metals & Mining | 1st Lien, Secured Bond | $1.38M | $1.37M | $12.0K | 13.13% | — | 2028-05-01 |
PowerStop LLC | Transportation Equipment Manufacturing | 1st Lien, Secured Bond | $1.29M | $1.50M | -$204.0K | 9.16% | +4.75% | 2029-01-26 |
New Wilkie Energy Pty Limited | Metals & Mining | 1st Lien, Secured Loan | $1.27M | $1.24M | $33.0K | — | — | 2027-02-20 |
Graftech | Industrial | 2nd Lien, Secured Bond | $1.25M | $1.12M | $132.0K | 9.88% | — | 2029-12-23 |
New Wilkie Energy Pty Limited | Metals & Mining | 2nd Lien, Secured Loan | $1.25M | $4.97M | -$3.73M | — | — | 2099-02-20 |
Thryv, Inc. | Marketing Services | 1st Lien, Secured Loan | $1.20M | $1.21M | -$4.0K | 10.91% | +6.75% | 2029-05-01 |
Maverick Gaming LLC | Casinos & Gaming | 1st Lien, Secured Loan | $1.09M | $6.35M | -$5.27M | — | — | 2028-06-03 |
Del Monte Foods Corp II Inc | Food & Staples | 1st Lien, Secured Loan | $1.05M | $2.04M | -$984.0K | — | — | 2028-08-02 |
x.AI, LLC | Technology | 1st Lien, Secured Bond | $945.0K | $898.0K | $47.0K | 12.50% | — | 2030-06-30 |
TPC Group Inc | Chemicals | 1st Lien, Secured Loan | $915.0K | $932.0K | -$17.0K | 9.77% | +5.75% | 2031-12-16 |
Maverick Gaming LLC | Casinos & Gaming | Sr. DIP Loan | $907.0K | $876.0K | $31.0K | 16.66% | +12.50% | 2026-04-16 |
Confluence Technologies | Technology | 1st Lien, Secured Loan | $901.0K | $994.0K | -$93.0K | 7.90% | +3.75% | 2028-07-31 |
First Brands, Inc. | Transportation Equipment Manufacturing | 2nd Lien, Secured Loan | $898.0K | $15.81M | -$14.91M | — | — | 2028-03-30 |
TruGreen LP | Consumer Services | 2nd Lien, Secured Loan | $793.0K | $739.0K | $54.0K | 13.07% | +8.50% | 2028-11-02 |
Vivos Holdings, LLC | Consumer Products | Warrants | $769.0K | — | — | — | — | 2031-08-13 |
SIRVA Worldwide Inc | Business Services | 1st Lien, Secured Loan | $651.0K | $693.0K | -$42.0K | 12.00% | +8.00% | 2029-02-20 |
Brightline East, LLC | Transportation | 1st Lien, Secured Bond | $380.0K | $644.0K | -$264.0K | 11.00% | — | 2030-01-31 |
Ruby Tuesday Operations LLC | Restaurants | Warrants | $312.0K | — | — | — | — | 2027-02-24 |
Blue Ribbon, LLC | Food & Staples | 1st Lien, Secured Loan | $245.0K | $243.0K | $2.0K | — | +8.00% | 2028-05-08 |
Ruby Tuesday Operations LLC | Restaurants | 1st Lien, Secured Loan | $159.0K | $160.0K | -$1.0K | — | +16.00% | 2027-02-24 |
Blackstone Secured Lending Fund | Closed-End Fund | Common Equity | $156.0K | $182.0K | -$26.0K | — | — | — |
Del Monte Foods Corp II Inc | Food & Staples | 1st Lien, Secured Loan | $136.0K | $258.0K | -$122.0K | — | — | 2028-08-02 |
Vivos Holdings, LLC | Consumer Products | Promissory Note | $131.0K | $131.0K | $0.00 | 9.00% | — | 2032-08-13 |
New Wilkie Energy Pty Limited | Metals & Mining | 1st Lien, Secured Loan | $114.0K | $111.0K | $3.0K | — | — | 2027-02-20 |
Commercial Vehicle Group, Inc. | Transportation Equipment Manufacturing | Tranche 1 warrants | $98.0K | — | — | — | — | 2030-06-25 |
Main Street Sports Group LLC | Media | 1st Lien, Secured Loan | $95.0K | $105.0K | -$10.0K | — | — | 2028-01-03 |
Commercial Vehicle Group, Inc. | Transportation Equipment Manufacturing | Tranche 2 warrants | $86.0K | — | — | — | — | 2030-06-25 |
TRU Taj Trust | Retail | Common Equity | $85.0K | $611.0K | -$526.0K | — | — | — |
SIRVA Worldwide Inc | Business Services | Delayed Draw, Secured Loan | $71.0K | $79.0K | -$8.0K | 12.00% | +8.00% | 2029-02-20 |
PFS Holdings Corp. | Food & Staples | Common Equity | $0.00 | $12.38M | -$12.38M | — | — | — |
Dynata, LLC (New Insight Holdings, Inc.) | Internet Media | Warrants | — | — | — | — | — | 2029-07-15 |
Universal Fiber Systems | Chemicals | Common Equity | — | — | — | — | — | — |
Universal Fiber Systems | Chemicals | Common Equity | — | — | — | — | — | — |