Great Elm Capital Q2 NAV rises helped by CoreWeave-related equity investment

Great Elm Capital

05/08/2026 21:57

Overview
US business development company reported Q2 net investment income per share fell to $0.32
Q2 net asset value per share rose 3% quarter-over-quarter to $7.95
Company declared Q3 dividend of $0.25 per share, down from $0.30 in prior quarter

Outlook
Company declares $0.25 per share dividend for 3Q26
Company says strong liquidity and capital position support pursuit of investment opportunities
Company notes market remains competitive but expects disciplined process to create long-term value

Result Drivers
DIVIDEND INCOME - Increase in total investment income was primarily driven by a $2.0 mln dividend from insurance-related preference shares
FEE WAIVER IMPACT - NII per share decreased despite higher total investment income, mainly due to a smaller benefit from incentive fee waivers compared to the prior quarter
INVESTMENT GAINS - Realized and unrealized gains, notably from the CoreWeave-related equity investment, drove growth in net asset value

Company press release: ID:nGNX9Nc1D1

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
 
$0.46
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the closed end funds peer group is "buy."
Wall Street's median 12-month price target for Great Elm Capital Corp is $7.50, about 41.8% above its August 4 closing price of $5.29
The stock recently traded at 5 times the next 12-month earnings vs. a P/E of 5 three months ago

Reuters Recommended Reads
Aug 5 - Trinity Capital's Q2 investment income rises
Aug 5 - Rand Capital Q2 investment income falls on non-accruals
Aug 4 - CoreWeave expands into Indonesia, announces first data center in Asia-Pacific

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)