Great Elm Capital (GECC)
Finances middle-market companies through corporate credit, specialty-finance platforms, and CLO equity.
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Provides corporate credit to middle-market borrowers and owns specialty-finance platforms and CLO equity, earning investment income from interest, dividends, and fees. Its listed BDC structure relies on an external adviser for investment management and administration.
Deploys capital across secured and senior-secured loans, bonds, and selective equity or warrants issued by middle-market companies. Investment income comes chiefly from interest, alongside dividends and distributions from controlled specialty-finance companies and the CLO Formation JV, plus lending-related fees. The portfolio is predominantly U.S.-exposed.
Operates specialty-finance lines through Prestige Capital’s receivables factoring, Great Elm Commercial Finance’s asset-based lending, and Great Elm Healthcare Finance’s secured lending and real-estate assets. The CLO Formation JV owns residual CLO equity and funds loan warehouses, extending its credit focus beyond corporate loans.
Relies on Great Elm Capital Management, an external adviser, for sourcing, underwriting, portfolio monitoring, administration, and personnel. BDC asset-coverage, qualifying-asset, and regulated-investment-company rules constrain its capital structure and investment activity.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 30, 2025 | Capital One Financial | Target | Target: — | Target: $11 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.7M · Total debt $161.9M · Total assets $280.0M · Shareholders' equity $110.4M
- Revenue
- $13.8M
- Operating income
- $10.4M
- Net income
- $6.4M
HistoryDividendAnnual yield
| Institutions | 4.78% | 663.4K shares | |
|---|---|---|---|
| 20 holders · as of Jun 30, 2026 | |||
| Insiders | 3.30% | 458.3K shares | |
| 6 holders · as of Mar 5, 2026 | |||
| Strategic holders | 50.29% | 6.99M shares | |
| 6 holders · as of Jun 30, 2026 | |||
| Other | 41.63% | 5.78M shares | |
| remainder | |||
13.89M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (13.89M in the company's Sep 23, 2026 report, 11.53M elsewhere); stakes use the report.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Great Elm Strategic Partnership I, LLC1,2Strategic10 percent owner | 9.92% | 1.56M | filed Jun 30, 2026 |
Great Elm Group, Inc.3,4Strategic10 percent owner | 9.78% | 1.36M | filed Oct 9, 2025 |
Poor Richard LLCStrategic | 9.29% | 1.29M | filed Sep 4, 2025 |
Summit Grove Partners, LLCStrategic | 7.88% | 1.09M | filed Dec 12, 2024 |
Prosper Peak Holdings, LLCStrategic | 7.18% | 997,506 | filed Jun 24, 2024 |
- Great Elm Strategic Partnership I, LLC's transaction reports restate only vehicles that traded; the 2025 ownership statement (1.56M) less the 180.0K net shares sold since is used instead.
- Great Elm Strategic Partnership I, LLC reports a block also reported by Great Elm Group, Inc.; it is counted once, under Great Elm Group, Inc.
- Great Elm Group, Inc.'s transaction reports restate only vehicles that traded; the 2025 ownership statement (1.36M) is used instead.
- Great Elm Group, Inc. reports a block also reported by Northern Right Capital Management, L.P.; it is counted once, under Northern Right Capital Management, L.P.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Nov 7, 2025 | Matthew D. Kaplan | officer: CEO and President | +19,650 | $7.64 |
| Sep 26, 2025 | Great Elm Strategic Partnership I, LLC | 10 percent owner | −2,313 | $11.45 |
| Sep 25, 2025 | Great Elm Strategic Partnership I, LLC | 10 percent owner | −1,696 | $11.45 |
| Sep 23, 2025 | Great Elm Strategic Partnership I, LLC | 10 percent owner | −1,490 | $11.45 |
| Sep 22, 2025 | Great Elm Strategic Partnership I, LLC | 10 percent owner | −48,248 | $11.45 |
- Ares Capital
Scaled BDC rival for U.S. middle-market direct lending.
- Prospect Capital
Broad BDC alternative for U.S. middle-market financing.
- Eagle Point Credit Company
Specialist public rival in CLO equity and junior debt.
- Oxford Square Capital
BDC peer in corporate debt, CLO equity and warehouses.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Great Elm Capital | $5.47 | +1.20% | $62.3M | — | 5.8 | — | −23.7% |
| Ares Capital | $19.22 | −0.72% | $13.90B | 14.3 | 10.0 | 6.0 | +32.6% |
| Prospect Capital | $2.19 | −0.45% | $1.10B | 39.2 | 5.7 | 1.7 | −6.7% |
| Eagle Point Credit Company | $3.59 | −0.69% | $477.3M | — | 5.1 | 59.9 | −21.7% |
| Oxford Square Capital | $1.27 | +0.40% | $132.4M | — | 6.3 | — | −1.3% |
| Median | 26.8 | 6.0 | 6.0 | −4.0% |