v3.26.1
SCHEDULE OF INVESTMENTS (Parenthetical) (unaudited) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Schedule of Investments [Line Items]    
Percentage of Net Assets 257.51% 293.12%
Percentage of Net Assets Excluding Short-Term Investments 248.58% 264.08%
Percentage of Liabilities in Excess of Net Assets 157.51% 193.12%
Percentage of non-qualifying assets 25.29% 25.81%
Investment owned, gross unrealized appreciation excess of value cost $ 8,392 $ 11,467
Investment owned, gross unrealized depreciation excess of value cost 79,860 80,177
Investment owned,net unrealized depreciation 71,468 (68,710)
Aggregate cost of federal income tax $ 348,231 $ 399,781
Maximum    
Schedule of Investments [Line Items]    
Percentage of Net Assets 1.00% 1.00%
Percentage of qualifying assets 70.00% 70.00%
Investment, Identifier [Axis]: CLO Formation JV, LLC Industry Structured Finance Security Common Equity Initial Acquisition Date 04/23/2024    
Schedule of Investments [Line Items]    
Percentage of Net Assets [1],[2],[3],[4],[5]   71.25%
Investment, Identifier [Axis]: CLO Formation JV, LLC Industry Structured Finance Security Common Equity Initial Acquisition Date 4/23/2024    
Schedule of Investments [Line Items]    
Percentage of Net Assets [6],[7],[8],[9],[10] 71.25%  
Investment, Identifier [Axis]: Commercial Vehicle Group, Inc. Tranche 1 warrants    
Schedule of Investments [Line Items]    
Strike price of investments warrants exercise price $ 1.58 $ 1.58
Investment, Identifier [Axis]: Commercial Vehicle Group, Inc. Tranche 2 warrants    
Schedule of Investments [Line Items]    
Strike price of investments warrants exercise price 2.07 2.07
Investment, Identifier [Axis]: Dorel Industries Inc. warrants    
Schedule of Investments [Line Items]    
Strike price of investments warrants exercise price 0.01 0.01
Investment, Identifier [Axis]: Dynata, LLC warrants    
Schedule of Investments [Line Items]    
Strike price of investments warrants exercise price $ 37.72 $ 37.72
Investment, Identifier [Axis]: Great Elm Specialty Finance, LLC Industry Specialty Finance Security Common Equity Initial Acquisition Date 09/01/2023    
Schedule of Investments [Line Items]    
Percentage of Net Assets 87.50% [7],[9],[10],[11] 87.50% [2],[4],[5],[12]
Investment, Identifier [Axis]: Interest rate floor of 0.00%    
Schedule of Investments [Line Items]    
Interest rate, floor 0.00% 0.00%
Investment, Identifier [Axis]: Interest rate floor of 0.50%    
Schedule of Investments [Line Items]    
Interest rate, floor 0.50% 0.50%
Investment, Identifier [Axis]: Interest rate floor of 0.75%    
Schedule of Investments [Line Items]    
Interest rate, floor 0.75% 0.75%
Investment, Identifier [Axis]: Interest rate floor of 1.00%    
Schedule of Investments [Line Items]    
Interest rate, floor 1.00% 1.00%
Investment, Identifier [Axis]: Interest rate floor of 1.25%    
Schedule of Investments [Line Items]    
Interest rate, floor 1.25% 1.25%
Investment, Identifier [Axis]: Interest rate floor of 1.50%    
Schedule of Investments [Line Items]    
Interest rate, floor 1.50% 1.50%
Investment, Identifier [Axis]: Interest rate floor of 2.00%    
Schedule of Investments [Line Items]    
Interest rate, floor 2.00% 2.00%
Investment, Identifier [Axis]: Interest rate floor of 2.50%    
Schedule of Investments [Line Items]    
Interest rate, floor 2.50% 2.50%
Investment, Identifier [Axis]: Interest rate floor of 8.25%    
Schedule of Investments [Line Items]    
Interest rate, floor   8.25%
Investment, Identifier [Axis]: One-month SOFR    
Schedule of Investments [Line Items]    
Investment interest rate of percentage 3.66% 3.69%
Investment, Identifier [Axis]: PFS Holdings Corp. Industry Food & Staples Security Common Equity Initial Acquisition Date 11/13/2020    
Schedule of Investments [Line Items]    
Percentage of Net Assets [7],[9],[11],[13],[14] 5.05%  
Investment, Identifier [Axis]: PFS Holdings Corp. Industry Food & Staples Security Common Equity Interest Rate n/a Initial Acquisition Date 11/13/2020    
Schedule of Investments [Line Items]    
Percentage of Net Assets [2],[4],[12],[15],[16]   5.05%
Investment, Identifier [Axis]: Prime    
Schedule of Investments [Line Items]    
Investment interest rate of percentage 6.75% 6.75%
Investment, Identifier [Axis]: Ruby Tuesday Operations LLC Industry Restaurants Security Warrants Interest Rate n/a Initial Acquisition Date 02/24/2021    
Schedule of Investments [Line Items]    
Percentage of Net Assets [2],[4],[12],[15],[17]   2.81%
Investment, Identifier [Axis]: Ruby Tuesday warrants    
Schedule of Investments [Line Items]    
Strike price of investments warrants exercise price $ 0.01 $ 0.01
Investment, Identifier [Axis]: SOFR    
Schedule of Investments [Line Items]    
Investment interest rate of percentage 3.68% 3.87%
Investment, Identifier [Axis]: Six-month SOFR    
Schedule of Investments [Line Items]    
Investment interest rate of percentage 3.70% 3.57%
Investment, Identifier [Axis]: TRU Taj Trust Industry Retail Security Common Equity Initial Acquisition Date 07/21/2017    
Schedule of Investments [Line Items]    
Percentage of Net Assets 2.75% [7],[9],[11],[13] 2.75% [2],[4],[12],[15]
Investment, Identifier [Axis]: Three-month SOFR    
Schedule of Investments [Line Items]    
Investment interest rate of percentage 3.68% 3.65%
Investment, Identifier [Axis]: Universal Fiber Systems Industry Chemicals Security Common Equity Initial Acquisition Date 10/16/2024 - 1    
Schedule of Investments [Line Items]    
Percentage of Net Assets [7],[9],[11],[13] 5.44%  
Investment, Identifier [Axis]: Universal Fiber Systems Industry Chemicals Security Common Equity Initial Acquisition Date 10/16/2024 - 3    
Schedule of Investments [Line Items]    
Percentage of Net Assets 2.37% [7],[9],[11],[13] 2.37% [2],[4],[12],[15]
Investment, Identifier [Axis]: Universal Fiber Systems Industry Chemicals Security Common Equity, Secured Loan Initial Acquisition Date 10/16/2024 - 1    
Schedule of Investments [Line Items]    
Percentage of Net Assets [2],[4],[12],[15]   5.44%
Investment, Identifier [Axis]: Vivos warrants    
Schedule of Investments [Line Items]    
Strike price of investments warrants exercise price $ 3,930.13 $ 3,930.13
[1] As a practical expedient, the Company uses net asset value to determine the fair value of this investment.
[2] 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.
[3] Indicates assets that the Company believes do not represent “qualifying assets” under Section 55(a) of the Investment Company Act. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. Of the Company’s total assets, 25.81% were non-qualifying assets as of period end.
[4] Percentage of class held refers only to equity held, if any, calculated on a fully diluted basis.
[5] “Controlled Investments” are investments in those companies that are “Controlled Investments” of the Company, as defined in the Investment Company Act. A company is deemed to be a “Controlled Investment” of the Company if the Company owns more than 25% of the voting securities of such company.
[6] As a practical expedient, the Company uses net asset value to determine the fair value of this investment.
[7] Great Elm Capital Corp.’s (the “Company”) investments are generally acquired in private transactions exempt from registration under the Securities Act of 1933, 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.
[8] Indicates assets that the Company believes do not represent “qualifying assets” under Section 55(a) of the Investment Company Act. Qualifying assets must represent at least 70% of the Company’s total assets at the time of acquisition of any additional non-qualifying assets. Of the Company’s total assets, 25.29% were non-qualifying assets as of period end.
[9] Percentage of class held refers only to equity held, if any, calculated on a fully diluted basis.
[10] “Controlled Investments” are investments in those companies that are “Controlled Investments” of the Company, as defined in the Investment Company Act of 1940, as amended (the “Investment Company Act”). A company is deemed to be a “Controlled Investment” of the Company if the Company owns more than 25% of the voting securities of such company.
[11] These investments were valued using unobservable inputs and are considered Level 3 investments.
[12] Investments classified as Level 3 whereby fair value was determined by the Company’s board of directors (the “Board”).
[13] Non-income producing security.
[14] “Affiliate Investments” are investments in those companies that are “Affiliated Companies” of the Company, as defined in the Investment Company Act, which are not “Controlled Investments.” A company is deemed to be an “Affiliate” of the Company if the Company owns 5% or more, but less than 25%, of the voting securities of such company.
[15] Non-income producing security.
[16] “Affiliate Investments” are investments in those companies that are “Affiliated Companies” of the Company, as defined in the Investment Company Act, which are not “Controlled Investments.” A company is deemed to be an “Affiliate” of the Company if the Company owns 5% or more, but less than 25%, of the voting securities of such company.
[17] The strike price at which investments in warrants may be exercised is $1.58 for the Commercial Vehicle Group, Inc. (“CVGI”) Tranche 1 warrants, $2.07 for the CVGI Tranche 2 warrants, $37.72 for the Dynata, LLC warrants, $0.01 for the Ruby Tuesday warrants, $3,930.13 for the Vivos warrants and $0.01 for the Dorel Industries Inc. warrants.