BDCinfo / GECC /10-Q · 2024-03-31

GECC · 10-Q

2024-03-31 View source on SEC.gov →
Great Elm Capital · filed 2024-05-02
Total Fair Value
$813.59M
100 holdings
Unrealized P/L
-$44.23M
-5.16% vs cost
W. Avg Spread
debt, FV-weighted
W. Avg Coupon
11.79%
debt, FV-weighted
% First Lien
11.7%
by fair value
Non-Accrual
0
text-detected
Investment Type Allocation
Fair value by type
Industry Concentration
Top 10 industries by fair value
$814M
Total Fair Value
  • Unclassified45.5%
  • Investments at Fair Value33.6%
  • Specialty Finance5.5%
  • Insurance2.5%
  • Chemicals2.1%
  • Oil & Gas Exploration & Production1.5%
  • Consumer Products1.5%
  • Structured Finance1.3%
  • Internet Media1.2%
  • Short-Term Investments1.0%
  • Other industries4.4%
Spread Distribution
Floating-rate debt holdings by 50bp spread bucket
No floating-rate debt in this filing.
All holdings
Sortable, click headers to re-sort
100 of 100
IssuerIndustryType
Fair Value
Cost
Unrealized
Coupon
Spread
Maturity
TOTAL INVESTMENTS
$271.19M
$285.94M
-$14.74M
Total Investments excluding Short-Term Investments
Investments at Fair Value
$262.86M
$277.60M
-$14.74M
Great Elm Specialty Finance LLC
Specialty Finance
3100 West End Ave Suite 750 Nashville TN 37203 Specialty Finance Security Subordinated Note Interest Rate 13.00% Initial Acquisition Date 09/01/2023 Maturity 06/30/2026
$28.73M
$28.73M
$0.00
13.00%
2026-06-30
Great Elm Specialty Finance LLC
Specialty Finance
3100 West End Ave Suite 750 Nashville TN 37203 Specialty Finance Security Common Equity Initial Acquisition Date 09/01/2023
$15.85M
$17.57M
-$1.71M
Coreweave Compute Acquisition Co II LLC
101 Eisenhower Parkway Suite 106 Roseland NJ 07068 Technology Security 1st Lien Secured Loan Interest Rate 3M SOFR + 8.75%, 8.75% Floor (14.06%) Initial Acquisition Date 07/31/2023 Maturity 07/31/2028
$12.63M
$12.29M
$335.0K
14.06%
First Brands Inc.
3255 West Hamlin Road Rochester Hills MI 48309 Transportation Equipment Manufacturing Security 2nd Lien Secured Loan Interest Rate 3M SOFR + 8.50% 9.50% Floor (14.07%) Initial Acquisition Date 03/24/2021 Maturity 03/30/2028
$12.39M
$12.23M
$159.0K
14.07%
American Coastal Insurance Corp.
Insurance
800 2nd Avenue S.Saint Petersburg FL 33701 Insurance Security Unsecured Bond Interest Rate 7.25% Initial Acquisition Date 12/20/2022 Maturity 12/15/2027
$11.80M
$7.36M
$4.44M
7.25%
2027-12-15
Apex Credit CLO 2024-1 Ltd
Structured Finance
520 Madison Avenue, 16th Floor New York, NY 10022 Structured Finance Security CLO Equity Initial Acquisition Date 02/09/2024 Maturity 04/20/2036
$10.84M
$10.83M
$11.0K
2036-04-20
NICE-PAK Products, Inc. Two Nice-Pak Park Orangeburg, NY 10962
Consumer Products
Secured Loan B
$8.95M
$8.83M
$122.0K
Vi-Jon 8800 Page Avenue St. Louis, MO 63114 Consumer Products Security 1st Lien Secured Loan Interest Rate 3M SOFR + 10%, 12.5% Floor (15.57%), (13.57% cash + 2.00% PIK) Initial Acquisition Date 12/28/2023 Maturity 12/28/2028
$8.71M
$8.70M
$7.0K
15.57%
Research Now Group Inc 5800 Tennyson Parkway Suite 600 Plano TX 75024
Internet Media
1st Lien Secured Revolver
$8.43M
$10.00M
-$1.57M
10.07%
Short-Term Investments MFB Northern Inst Funds Treas Portfolio Premier CL Industry
Short-Term Investments
Security Money Market
$8.34M
$8.34M
$0.00
0.00%
Total Short-Term Investments
$8.34M
$8.34M
$0.00
Universal Fiber Systems 640 State Street Bristol TN 37620
Chemicals
Term Loan B
$7.94M
$7.96M
-$21.0K
18.33%
First Brands Inc.
3255 West Hamlin Road Rochester Hills MI 48309 Transportation Equipment Manufacturing Security 1st Lien, Secured Loan Interest Rate 3M SOFR + 5.00% 6.00% Floor (10.57%) Initial Acquisition Date 06/09/2023 Maturity 03/30/2027
$7.65M
$7.53M
$117.0K
10.57%
Blackstone Secured Lending 345 Park Avenue New York NY 10154 Closed-End Fund Security Common Stock Initial Acquisition Date 08/18/2022
Investments at Fair Value
$7.38M
$7.37M
$2.0K
Greenfire Resources Ltd.
Oil & Gas Exploration & Production
205 5th Avenue SW Suite 1900 Calgary AB T2P 2V7 Canada Oil & Gas Exploration & Production Security 1st Lien, Secured Bond Interest Rate 12.00% Initial Acquisition Date 09/13/2023 Maturity 10/01/2028
$6.92M
$6.38M
$538.0K
12.00%
2028-10-01
ProFrac Holdings II LLC 333 Shops Boulevard Suite 301 Weatherford Texas 76087
Energy Services
1st Lien Secured Bond
$6.71M
$6.67M
$45.0K
12.84%
Florida Marine LLC
2360 5th Street Mendeville LA 70471 Shipping Security 1st Lien Secured Loan Interest Rate 1M SOFR + 9.44% 11.44% Floor (14.88%) Initial Acquisition Date 03/17/2023 Maturity 03/17/2028
$6.31M
$6.19M
$122.0K
14.88%
Harvey Gulf Holdings LLC
701 Poydras Street Suite 3700 New Orleans LA 70139 Shipping Security Secured Loan B Interest Rate 3M SOFR + 7.25%, 9.25% Floor (12.56%) Initial Acquisition Date 02/28/2024 Maturity 01/19/2029
$6.24M
$6.25M
-$3.0K
12.56%
Foresight Energy 211 North Broadway Suite 2600 St. Louis MO 63102 Metals & Mining Security 1st Lien Secured Loan Interest Rate 3M SOFR + 8.00% 9.50% Floor (13.41%) Initial Acquisition Date 07/29/2021 Maturity 06/30/2027
$5.95M
$5.98M
-$27.0K
13.41%
Blue Ribbon LLC
110 E Houston St.San Antonio TX 78205 Food & Staples Security 1st Lien Secured Loan Interest Rate 3M SOFR + 6.00% 6.75% Floor (11.44%) Initial Acquisition Date 02/06/2023 Maturity 05/07/2028
$5.10M
$4.48M
$620.0K
11.44%
Trouvaille Re Ltd 1700 City Plaza Drive, Suite 200 Spring, TX 77389
Insurance
Preference Shares Acquisition Date 03/27/2024
$5.00M
$5.00M
$0.00
W&T Offshore, Inc.
Oil & Gas Exploration & Production
5718 Westheimer Road Suite 700 Houston TX 77057 Oil & Gas Exploration & Production Security 2nd Lien Secured Bond Interest Rate 11.75% Initial Acquisition Date 01/12/2023 Maturity 02/01/2026
$4.99M
$4.82M
$172.0K
11.75%
2026-02-01
SCIH Salt Holdings Inc 1875 Century Park East Suite 320 Los Angeles CA 90067
Food & Staples
1st Lien Secured Loan
$4.97M
$4.93M
$38.0K
9.44%
Flexsys Holdings 260 Springside Drive Akron OH 44333 Chemicals Security 1st Lien Secured Loan Interest Rate 3M SOFR + 5.25% 6.00% Floor (10.82%) Initial Acquisition Date 11/04/2022 Maturity 11/01/2028
$4.80M
$4.04M
$765.0K
10.82%
Manchester Acquisition Sub, LLC 251 Little Falls Drive, Wilmington, DE 19808
Chemicals
1st Lien Secured Loan
$4.10M
$3.98M
$116.0K
11.24%
Avation Capital SA 65 Kampong Bahru Road #01-01 Singapore 169370 Aircraft Security 2nd Lien Secured Bond Interest Rate 8.25% Initial Acquisition Date 02/04/2022 Maturity 10/31/2026
Aircraft
$3.99M
$4.26M
-$270.0K
8.25%
2026-10-31
ADS Tactical, Inc.
621 Lynnhaven Parkway Suite 160 Virginia Beach, VA 23452 Defense Security 1st Lien, Secured Loan Interest Rate 1M SOFR + 5.75%, 6.75% Floor (11.19%) Initial Acquisition Date 11/28/2023 Maturity 03/19/2026
$3.92M
$3.90M
$15.0K
11.19%
Maverick Gaming LLC 12530 NE 144th Street Kirkland WA 98034
Casinos & Gaming
1st Lien Secured Loan
$3.89M
$5.72M
-$1.83M
13.10%
New Wilkie Energy Pty Limited 56 Pitt Street Sydney New South Wales 2000 Australia
Metals & Mining
1st Lien Secured Loan
$3.24M
$4.82M
-$1.58M
2026-04-06
Stone Ridge Opportunities Fund L.P. One Vanderbilt Ave., 65th Floor New York NY 10017
Insurance
Private Fund Acquisition Date 01/01/2023
$3.21M
$2.38M
$834.0K
Eagle Point Credit Company Inc
Investments at Fair Value
600 Steamboat Road Suite 202 Greenwich CT 06830 Closed-End Fund Security Common Stock Initial Acquisition Date 08/18/2022
$3.03M
$3.17M
-$140.0K
Universal Fiber Systems 640 State Street Bristol TN 37620
Chemicals
Term Loan C
$2.87M
$3.06M
-$191.0K
18.33%
Lummus Technology Holdings 5825 N. Sam Houston Parkway West #600 Houston TX 77086 Chemicals Security Unsecured Bond Interest Rate 9.00% Initial Acquisition Date 05/17/2022 Maturity 07/01/2028
Chemicals
$2.47M
$2.11M
$358.0K
9.00%
2028-07-01
Del Monte Foods, Inc.
205 North Wiget Lane Walnut Creek, CA 94598 Food & Staples Security 1st Lien, Secured Loan Interest Rate 1M SOFR + 4.25%, 4.75% Floor (9.68%) Initial Acquisition Date 02/21/2024 Maturity 05/16/2029
$2.36M
$2.42M
-$60.0K
9.68%
APTIM Corp
Industrial
4171 Essen Lane Baton Rouge LA 70809 Industrial Security 1st Lien Secured Bond Interest Rate 7.75% Initial Acquisition Date 03/28/2019 Maturity 06/15/2025
$2.25M
$1.94M
$309.0K
7.75%
2025-06-15
Mad Engine Global, LLC 6740 Cobra Way San Diego, CA, 92121
Apparel
1st Lien Secured Loan
$2.06M
$2.77M
-$706.0K
12.56%
Summit Midstream Holdings LLC 910 Louisiana Street Suite 4200 Houston TX 77002
Energy Midstream
2nd Lien Secured Bond
$2.02M
$1.91M
$111.0K
9.00%
2026-10-15
EPIC Crude Services LP
18615 Tuscany Stone, Suite 300 San Antonio, TX 78258 Energy Midstream Security 1st Lien, Secured Loan Interest Rate 3M SOFR + 5.00%, 6.00% Floor (10.6%) Initial Acquisition Date 02/08/2024 Maturity 03/02/2026
$2.00M
$2.00M
$0.00
10.60%
Arcline FM Holdings, LLC
655 3rd Street, Suite 301 Beloit, WI 53511 Defense Security 1st Lien, Secured Loan Interest Rate 3M SOFR + 4.75% 5.50% Floor (10.32%) Initial Acquisition Date 02/08/24 Maturity 06/23/2028
$2.00M
$2.00M
$0.00
10.32%
Ruby Tuesday Operations LLC 333 E. Broadway Avenue Maryville TN 37804
Restaurants
1st Lien Secured Loan
$1.91M
$1.95M
-$35.0K
CSC Serviceworks 35 Pinelawn Road Suite 120 Melville NY 11747 Consumer Services Security 1st Lien Secured Loan Interest Rate 3M SOFR + 4.00% 4.75% Floor (9.59%) Initial Acquisition Date 09/26/2023 Maturity 03/04/2028
$1.83M
$1.74M
$90.0K
9.59%
Crown Subsea Communications Holding, Inc.
250 Industrial Way West Eatontown, NJ 07724 Telecommunications Security 1st Lien, Secured Loan Interest Rate 3M SOFR + 4.75%, 4.75% Floor (10.07%) Initial Acquisition Date 01/26/2024 Maturity 01/27/2031
$1.81M
$1.78M
$27.0K
10.07%
First Brands Inc.
3255 West Hamlin Road Rochester Hills MI 48309 Transportation Equipment Manufacturing Security 1st Lien, Secured Loan Interest Rate 3M SOFR + 5.00% 6.00% Floor (10.57%) Initial Acquisition Date 01/19/2024 Maturity 03/30/2027
$1.79M
$1.78M
$13.0K
10.57%
Advancion 1500 E Lake Cook Rd Buffalo Grove IL 60089 Chemicals Security 2nd Lien Secured Loan Interest Rate 1M SOFR + 7.75% 8.50% Floor (13.18%) Initial Acquisition Date 09/21/2022 Maturity 11/24/2028
$1.57M
$1.52M
$51.0K
13.18%
NICE-PAK Products Inc
Consumer Products
Two Nice-Pak Park Orangeburg NY 10962 Consumer Products Warrants Initial Acquisition Date 09/30/2022
$1.46M
NICE-PAK Products Inc
Consumer Products
Two Nice-Pak Park Orangeburg NY 10962 Consumer Products Promissory Note Initial Acquisition Date 09/30/2022 Maturity 09/30/2029
$1.45M
2029-09-30
Research Now Group Inc. 5800 Tennyson Parkway Suite 600 Plano TX 75024
Internet Media
2nd Lien, Secured Loan
$1.43M
$7.98M
-$6.55M
2025-12-20
New Wilkie Energy Pty Limited 56 Pitt Street Sydney New South Wales 2000 Australia
Metals & Mining
SS Working Capital Facility
$1.06M
$1.02M
$39.0K
16.00%
2024-08-16
LSF9 Atlantis Holdings, LLC
2017 Fiesta Drive, Suite 201 Sarasota, FL 34231 Retail Security 1st Lien, Secured Loan Interest Rate 1M SOFR + 6.50%, 7.25% Floor (11.83%) Initial Acquisition Date 02/12/2024 Maturity 03/31/2029
$1.01M
$1.00M
$5.0K
11.83%
Creation Technologies, Inc.
One Beacon Street, 23rd Floor Boston, MA 02108 Electronics Manufacturing 1st Lien, Secured Loan 1M SOFR + 5.50%, 6.00% Floor (11.09%) Initial Acquisition Date 02/12/2024 Maturity 10/05/2028
$974.0K
$972.0K
$2.0K
Form Technologies, LLC
11325 N Community House Road, Suite 300 Charlotte, NC 28277 Industrial Security 1st Lien, Secured Loan Interest Rate 3M SOFR + 4.50%, 5.50% Floor (10.19%) Initial Acquisition Date 01/25/2024 Maturity 07/22/2025
$950.0K
$949.0K
$1.0K
10.19%
Ruby Tuesday Operations LLC 333 E. Broadway Avenue Maryville TN 37804
Restaurants
Warrants
$922.0K
PowerStop LLC 6112 W 73rd Street Bedford Park IL
Transportation Equipment Manufacturing
1st Lien Secured Loan
$906.0K
$920.0K
-$14.0K
10.19%
GrafTech Global Enterprises Inc.
Industrial
982 Keynote Circle Brooklyn Heights, OH 44131 Industrial Security 1st Lien, Secured Loan Interest Rate 9.88% Initial Acquisition Date 01/18/2024 Maturity 12/15/2028
$740.0K
$744.0K
-$4.0K
9.88%
2028-12-15
Ruby Tuesday Operations LLC 333 E. Broadway Avenue Maryville TN 37804
Restaurants
1st Lien Secured Loan
$631.0K
$631.0K
$0.00
21.44%
Universal Fiber Systems 640 State Street Bristol TN 37620 Chemicals Security Warrants Initial Acquisition Date 09/30/2021
$449.0K
PFS Holdings Corp
Food & Staples
3747 Hecktown Road Easton PA 18045 Food & Staples Security 1st Lien Secured Loan Interest Rate 1M SOFR + 7.00% 8.00% Floor (12.43%) Initial Acquisition Date 11/13/2020 Maturity 11/13/2024
$214.0K
$1.04M
-$827.0K
12.43%
TRU Taj Trust 505 Park Avenue 2nd Floor New York NY 10022 Retail Security Common Equity Acquisition Date 07/21/2017
$49.0K
$611.0K
-$562.0K
PFS Holdings Corp
Food & Staples
3747 Hecktown Road Easton PA 18045 Food & Staples Security Common Equity Initial Acquisition Date 11/13/2020
$0.00
$12.38M
-$12.38M
ADS Tactical, Inc.
621 Lynnhaven Parkway Suite 160 Virginia Beach, VA 23452 Defense Security 1st Lien, Secured Loan Interest Rate 1M SOFR
5.75%
Advancion 1500 E Lake Cook Rd Buffalo Grove IL 60089 Chemicals Security 2nd Lien Secured Loan Interest Rate 1M SOFR
7.75%
Arcline FM Holdings, LLC
655 3rd Street, Suite 301 Beloit, WI 53511 Defense Security 1st Lien, Secured Loan Interest Rate 3M SOFR
4.75%
Blue Ribbon LLC
110 E Houston St.San Antonio TX 78205 Food & Staples Security 1st Lien Secured Loan Interest Rate 3M SOFR
6.00%
CSC Serviceworks 35 Pinelawn Road Suite 120 Melville NY 11747 Consumer Services Security 1st Lien Secured Loan Interest Rate 3M SOFR
4.00%
Coreweave Compute Acquisition Co II LLC
101 Eisenhower Parkway Suite 106 Roseland NJ 07068 Technology Security 1st Lien Secured Loan Interest Rate 3M SOFR
8.75%
Creation Technologies, Inc.
One Beacon Street, 23rd Floor Boston, MA 02108 Electronics Manufacturing Security 1st Lien, Secured Loan Interest Rate1M SOFR
5.50%
Creation Technologies, Inc.
One Beacon Street, 23rd Floor Boston, MA 02108 Electronics Manufacturing Security 1st Lien, Secured Loan Interest Rate1M SOFR + 5.50%, 6.00% Floor (11.09%) Initial Acquisition Date 02/12/2024 Maturity 10/05/2028
11.09%
Crown Subsea Communications Holding, Inc.
250 Industrial Way West Eatontown, NJ 07724 Telecommunications Security 1st Lien, Secured Loan Interest Rate 3M SOFR
4.75%
Del Monte Foods, Inc.
205 North Wiget Lane Walnut Creek, CA 94598 Food & Staples Security 1st Lien, Secured Loan Interest Rate 1M SOFR
4.25%
EPIC Crude Services LP
18615 Tuscany Stone, Suite 300 San Antonio, TX 78258 Energy Midstream Security 1st Lien, Secured Loan Interest Rate 3M SOFR
5.00%
First Brands Inc.
3255 West Hamlin Road Rochester Hills MI 48309 Transportation Equipment Manufacturing Security 2nd Lien Secured Loan Interest Rate 3M SOFR
8.50%
First Brands Inc.
3255 West Hamlin Road Rochester Hills MI 48309 Transportation Equipment Manufacturing Security 1st Lien, Secured Loan Interest Rate 3M SOFR
5.00%
Flexsys Holdings 260 Springside Drive Akron OH 44333 Chemicals Security 1st Lien Secured Loan Interest Rate 3M SOFR
5.25%
Florida Marine LLC
2360 5th Street Mendeville LA 70471 Shipping Security 1st Lien Secured Loan Interest Rate 1M SOFR
9.44%
Foresight Energy 211 North Broadway Suite 2600 St. Louis MO 63102 Metals & Mining Security 1st Lien Secured Loan Interest Rate 3M SOFR
8.00%
Form Technologies, LLC
11325 N Community House Road, Suite 300 Charlotte, NC 28277 Industrial Security 1st Lien, Secured Loan Interest Rate 3M SOFR
4.50%
Harvey Gulf Holdings LLC
701 Poydras Street Suite 3700 New Orleans LA 70139 Shipping Security Secured Loan B Interest Rate 3M SOFR
7.25%
LSF9 Atlantis Holdings, LLC
2017 Fiesta Drive, Suite 201 Sarasota, FL 34231 Retail Security 1st Lien, Secured Loan Interest Rate 1M SOFR
6.50%
Mad Engine Global, LLC 6740 Cobra Way San Diego, CA, 92121
Apparel
1st Lien Secured Loan
7.00%
Manchester Acquisition Sub, LLC 251 Little Falls Drive, Wilmington, DE 19808
Chemicals
1st Lien Secured Loan
5.75%
Maverick Gaming LLC 12530 NE 144th Street Kirkland WA 98034
Casinos & Gaming
1st Lien Secured Loan
7.50%
NICE-PAK Products, Inc. Two Nice-Pak Park Orangeburg, NY 10962
Consumer Products
Secured Loan B
13.50%
NICE-PAK Products, Inc. Two Nice-Pak Park Orangeburg, NY 10962
Consumer Products
Secured Loan B
19.12%
New Wilkie Energy Pty Limited 56 Pitt Street Sydney New South Wales 2000 Australia
Metals & Mining
Warrants
Other Liabilities in Excess of Net Assets
PFS Holdings Corp
Food & Staples
3747 Hecktown Road Easton PA 18045 Food & Staples Security 1st Lien Secured Loan Interest Rate 1M SOFR
7.00%
PowerStop LLC 6112 W 73rd Street Bedford Park IL
Transportation Equipment Manufacturing
1st Lien Secured Loan
4.75%
ProFrac Holdings II LLC 333 Shops Boulevard Suite 301 Weatherford Texas 76087
Energy Services
1st Lien Secured Bond
7.25%
Research Now Group Inc 5800 Tennyson Parkway Suite 600 Plano TX 75024
Internet Media
1st Lien Secured Revolver
4.50%
Ruby Tuesday Operations LLC 333 E. Broadway Avenue Maryville TN 37804
Restaurants
1st Lien Secured Loan
13.50%
Ruby Tuesday Operations LLC 333 E. Broadway Avenue Maryville TN 37804
Restaurants
1st Lien Secured Loan
17.44%
Ruby Tuesday Operations LLC 333 E. Broadway Avenue Maryville TN 37804
Restaurants
1st Lien Secured Loan
16.00%
SCIH Salt Holdings Inc
1875 Century Park East Suite 320 Los Angeles CA 90067 Food & Staples Security 1st Lien Secured Loan Interest Rate 1M SOFR
4.00%
TRU Taj Trust 505 Park Avenue 2nd Floor New York NY 10022
Retail
Common Equity Acquisition Date 07/21/2017
Universal Fiber Systems 640 State Street Bristol TN 37620
Chemicals
Term Loan B
12.88%
Universal Fiber Systems 640 State Street Bristol TN 37620
Chemicals
Term Loan C
12.88%
Universal Fiber Systems 640 State Street Bristol TN 37620
Chemicals
Warrants
Vi-Jon 8800 Page Avenue St. Louis
MO 63114 Consumer Products Security 1st Lien Secured Loan Interest Rate 3M SOFR
10.00%