Great Elm Capital Corp. filed its quarterly report on Form 10-Q with the SEC on November 2, 2026, covering the fiscal period ended September 30, 2026.

Key Highlights

  • Share count: As of October 26, 2026, the company had 13,659,450 shares of common stock, $0.01 par value per share, outstanding.
  • Multiple listed securities: The company lists common stock (GECC), 8.50% Notes due 2029 (GECCI), 8.125% Notes due 2029 (GECCH), and 7.75% Notes due 2030 (GECCG), all on the Nasdaq Global Market.
  • Investment focus: The company describes itself as a business development company (BDC) seeking current income and capital appreciation through debt and income-generating equity investments in middle market companies, with enterprise values between $100 million and $2 billion.
  • CLO Joint Venture: On April 23, 2024, the company contributed investments in certain CLOs and formed the CLO Formation JV, LLC to facilitate the creation of CLOs, investing primarily in subordinated note securities and loan accumulation facilities.
  • Specialty finance subsidiary: On September 1, 2023, the company contributed assets to Great Elm Specialty Finance, LLC (GESF), with a strategic investor purchasing approximately 12.5% of the equity interests and subordinated indebtedness in GESF.
  • Filer status: The company is classified as a non-accelerated filer and is not a smaller reporting company or emerging growth company.

Great Elm Capital's September 2026 Quarterly Disclosure: BDC Operations and Portfolio Structure

Great Elm Capital Corp. (NASDAQ:GECC), a Maryland-incorporated business development company headquartered in Palm Beach Gardens, Florida, filed its Form 10-Q for the quarterly period ended September 30, 2026. According to the filing, the company pursues both current income and capital appreciation by investing in secured and senior secured debt instruments of middle market companies, as well as income-generating equity investments in specialty finance companies. The company also reports investing in collateralized loan obligation (CLO) securities and related warehouse facilities.

The filing describes the company's CLO Formation JV, LLC, formed on April 23, 2024, through which the company contributed investments in certain CLOs. According to the filing, the CLO JV invests primarily in subordinated note securities in CLOs, which "are entitled to recurring distributions which are generally equal to the residual cash flow of payments received from underlying securities after contractual payments to more senior CLO mezzanine debt holders and fund expenses." The company also holds an interest in Great Elm Specialty Finance, LLC (GESF), a subsidiary through which it provides receivables factoring, asset-based and asset-backed lending, lender finance, and equipment financing to middle-market borrowers.

The filing notes that the company had 13,659,450 shares of common stock outstanding as of October 26, 2026. In addition to its common stock, the company has three series of publicly listed notes trading on the Nasdaq Global Market under the symbols GECCI, GECCH, and GECCG. The filing contains forward-looking statements, which the company notes are subject to risks and uncertainties, and actual results "could differ materially from those implied or expressed in the forward-looking statements."

What Was Disclosed

Great Elm Capital Corp. disclosed its unaudited financial statements and management's discussion for the quarter ended September 30, 2026, including its share count as of October 26, 2026, its BDC investment strategy, and the structure of its CLO and specialty finance subsidiaries.