v3.26.1
Fair Value Measurement - Summary of Investment Assets Categorized within Fair Value Hierarchy (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets $ 232,906 $ 278,883
Total investments at fair value 276,763 [1] 331,071 [2],[3]
Receivable    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investments at fair value 43,857 [4] 52,188
Debt    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 190,403 203,511
Equity/Other    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 32,903 42,569
Short Term Investments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 9,600 32,803
Level 1    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 13,784 43,797
Level 1 | Equity/Other    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 4,184 10,994
Level 1 | Short Term Investments    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 9,600 32,803
Level 2    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 54,335 82,031
Level 2 | Debt    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 53,966 81,893
Level 2 | Equity/Other    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 369 138
Level 3    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 164,787 153,055
Level 3 | Debt    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets 136,437 121,618
Level 3 | Equity/Other    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]    
Total investment assets $ 28,350 $ 31,437
[1] As of period end, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $8,392; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $(79,860); the net unrealized depreciation was $(71,468); the aggregate cost of securities for Federal income tax purposes was $348,231.
[2] As of period end, the aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost was $11,467; the aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value was $80,177; the net unrealized depreciation was $(68,710); the aggregate cost of securities for Federal income tax purposes was $399,781.
[3] Great Elm Capital Corp.’s (the “Company”) investments are generally acquired in private transactions exempt from registration under the Securities Act, as amended (the “Securities Act”) and, therefore, are generally subject to limitations on resale, and may be deemed to be “restricted securities” under the Securities Act.
[4] Certain investments that are measured at fair value using net asset value (“NAV”) have not been categorized in the fair value hierarchy. The fair value amounts presented in the table are intended to permit reconciliation of the fair value hierarchy to the amount presented in the Statements of Assets and Liabilities.