Northern Right Capital Management Reduces Stake in Great Elm Capital Corp. to 2.8%

On May 15, 2026, Northern Right Capital Management, L.P. and its affiliates filed a Schedule 13G/A with the SEC, reporting a significant reduction in their position in Great Elm Capital Corp. (GECC). As of the event date on March 31, 2026, Northern Right Capital Management reported beneficial ownership of 383,971 shares, representing a 2.8% stake in the company. This is a decrease from their previously reported ownership of 798,471 shares, which constituted a 5.7% stake. The filing persons include Northern Right Capital Management, L.P., Northern Right Capital (QP), L.P., Northern Right Long Only Master Fund LP, and Matthew A. Drapkin. Specifically, Mr. Drapkin's aggregate beneficial ownership is reported at 460,304 shares or approximately 3.3% when accounting for all affiliated entities. Because the total group ownership has fallen below the 5% threshold, the reporting persons indicated that they now own 5% or less of the class of securities. The shares are held for investment purposes and not with the intent of changing or influencing control of the issuer.