great elm capital corp. (nasdaq: gecc, “gecc”) is an externally managed, specialty finance company focused on investing in the debt instruments of middle market companies. gecc has elected to be regulated as a business development company (“bdc”) under the investment company act of 1940, as amended. gecc is managed by great elm capital management (“gecm”). gecm’s investment team has deployed more than $17 billion into more than 550 issuers across 20+ jurisdictions over the team’s 14 year history under mast capital management, llc. now led by peter a. reed, gecc’s chief executive officer, gecm’s investment team has more than 100 years of aggregate experience financing and investing in leveraged middle market companies. investment objective: gecc’s investment objective is to generate both current income and capital appreciation, while seeking to protect against risk of permanent capital loss. gecc will invest predominantly in the debt securities of middle market companies, which gecm def
Company profile
Ticker
GECC, GECCZ, GECCM, GECCO
Exchange
Website
CEO
Peter Andrew Reed
Employees
Incorporated
Location
Fiscal year end
Industry
SEC CIK
Corporate docs
Subsidiaries
Great Elm Specialty Finance, LLC ...
GECC stock data
Latest filings (excl ownership)
CERT
Certification of approval for exchange listing
17 Apr 24
8-A12B
Registration of securities on exchange
17 Apr 24
8-K
Entry into a Material Definitive Agreement
17 Apr 24
DEFA14A
Additional proxy soliciting materials
12 Apr 24
DEF 14A
Definitive proxy
12 Apr 24
424B1
Prospectus with pricing info
10 Apr 24
EFFECT
Notice of effectiveness
10 Apr 24
FWP
Free writing prospectus
9 Apr 24
10-K
2023 FY
Annual report
29 Feb 24
8-K
Great Elm Capital Corp. Announces FOURTH Quarter AND Full year 2023 Financial Results
29 Feb 24
Transcripts
GECC
Earnings call transcript
2023 Q4
29 Feb 24
GECC
Earnings call transcript
2023 Q3
2 Nov 23
GECC
Earnings call transcript
2023 Q2
3 Aug 23
GECC
Earnings call transcript
2023 Q1
4 May 23
GECC
Earnings call transcript
2023 Q1
4 May 23
GECC
Earnings call transcript
2022 Q4
2 Mar 23
GECC
Earnings call transcript
2022 Q3
6 Nov 22
GECC
Earnings call transcript
2022 Q2
5 Aug 22
GECC
Earnings call transcript
2022 Q1
12 May 22
GECC
Earnings call transcript
2021 Q4
4 Mar 22
Latest ownership filings
144
Notice of proposed sale of securities
11 Mar 24
144
Notice of proposed sale of securities
8 Mar 24
144
Notice of proposed sale of securities
7 Mar 24
144
Notice of proposed sale of securities
6 Mar 24
144
Notice of proposed sale of securities
5 Mar 24
4
Change in insider ownership
4 Mar 24
144
Notice of proposed sale of securities
4 Mar 24
4
Change in insider ownership
22 Feb 24
SC 13G/A
Imperial Capital Asset Management, LLC
14 Feb 24
SC 13D/A
Northern Right Capital Management, L.P.
13 Feb 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
---|---|---|---|---|---|
Revenue | |||||
Cost of revenue | |||||
Operating income | |||||
Operating margin | |||||
Net income | |||||
Net profit margin | |||||
Cash on hand | |||||
Change in cash | |||||
Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 1.78 mm | 1.78 mm | 1.78 mm | 1.78 mm | 1.78 mm | 1.78 mm |
Cash burn (monthly) | 524.00 k | (no burn) | 1.73 mm | 714.25 k | (no burn) | (no burn) |
Cash used (since last report) | 3.48 mm | n/a | 11.49 mm | 4.75 mm | n/a | n/a |
Cash remaining | -1.70 mm | n/a | -9.71 mm | -2.97 mm | n/a | n/a |
Runway (months of cash) | -3.2 | n/a | -5.6 | -4.2 | n/a | n/a |
Institutional ownership, Q3 2023
34.7% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 16 |
Opened positions | 2 |
Closed positions | 5 |
Increased positions | 5 |
Reduced positions | 4 |
13F shares | Current |
---|---|
Total value | 13.18 bn |
Total shares | 3.28 mm |
Total puts | 0.00 |
Total calls | 0.00 |
Total put/call ratio | – |
Largest owners | Shares | Value |
---|---|---|
GEG Great Elm | 1.51 mm | $14.03 mm |
Northern Right Capital Management | 798.47 k | $7.88 bn |
Imperial Capital Asset Management | 399.06 k | $0.00 |
JPM JPMorgan Chase & Co. | 372.50 k | $3.68 bn |
Cruiser Capital Advisors | 70.81 k | $698.91 mm |
Acadian Asset Management | 43.79 k | $430.00 k |
Citadel Advisors | 25.69 k | $253.60 mm |
Millennium Management | 20.81 k | $205.39 mm |
O'shaughnessy Asset Management | 14.50 k | $143.14 mm |
Marshall Wace | 12.31 k | $121.45 mm |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
4 Mar 24 | Great Elm | Common Stock | Other | Dispose J | No | No | 10.82 | 1,239 | 13.41 k | 1,516,932 |
15 Feb 24 | Great Elm | Common Stock | Other | Dispose J | No | No | 10.69 | 2,389 | 25.54 k | 1,518,171 |
21 Nov 23 | Great Elm | Common Stock | Buy | Acquire P | No | No | 10.05 | 27,000 | 271.35 k | 1,520,560 |
10 Oct 23 | Matthew D Kaplan | Common Stock | Other | Acquire J | No | No | 0 | 38,668 | 0.00 | 50,668 |
Press releases
Great Elm Capital Corp. Prices Public Offering of $30,000,000 of 8.50% Notes Due 2029
9 Apr 24
Great Elm Capital Corp. Announces Public Offering of Unsecured Notes
9 Apr 24
Great Elm Capital Corp. Announces Fourth Quarter and Full Year 2023 Financial Results
29 Feb 24
Great Elm Capital Corp. ("GECC") Raises $24 Million of Equity at Net Asset Value
8 Feb 24