GCMG — what changed in the latest 10-Q
A section-by-section comparison of GCMG's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-10 vs the prior 10-Q · 2026-05-07
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +45 | −30 | ~65 | 67 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~2 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 2 |
| Risk factors | Some risk factors updated | 0 | 0 | ~1 | 3 |
| Other information | Text added/removed | +1 | 0 | ~1 | 2 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-10
Change in fair value of warrant liabilities— 19,388 — 10,612
Less: Net income attributable to noncontrolling interests in GCMH21,666 23,474 33,079 21,746
Management fees increased $12.8 million, or 13%, to $114.8 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. Private markets strategies fees increased $7.3 million, or 12%, primarily due to a $3.6 million increase in private market strategies speciali…
Incentive fees consisted of carried interest and performance fees. Carried interest increased $1.4 million, or 9%, to $16.2 million for the three months ended June 30, 2026 compared to the three months ended June 30, 2025. This increase is primarily due to higher carry realizations and distributions…
Management fees increased $14.4 million, or 7%, to $225.6 million for the six months ended June 30, 2026 compared to the six months ended June 30, 2025. Absolute return strategies fees increased $8.0 million, or 11%, primarily as a result of capital raising and higher returns for certain absolute re…
Text removed vs the prior filing · source: 10-Q · 2026-05-07
Less: Net income attributable to noncontrolling interests in subsidiaries864 175
Management fees increased $1.6 million, or 1%, to $110.9 million for the three months ended March 31, 2026 compared to the three months ended March 31, 2025. Absolute return strategies fees increased $3.9 million, or 10%, primarily due to higher returns for certain absolute return strategies funds. …
to $5.7 million. These increases were partially offset by a net decrease of $3.3 million, or 5%, in private markets strategies fees primarily due to a $6.0 million decrease in private markets strategies specialized funds, as a result of lower catch-up management fees, and a $2.2 million increase in …
Incentive fees consisted of carried interest and performance fees. Carried interest decreased $4.8 million, or 42%, to $6.5 million for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily due to lower carry realizations during the three months ended Ma…
Cash-based employee compensation and benefits $38,350 $39,047
Other information
Text added vs the prior filing · source: 10-Q · 2026-08-10
On June 16, 2026, Pamela Bentley, the Company’s Chief Financial Officer, adopted a trading plan for the sale of shares of the Company’s Class A common stock, which is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act. The plan expires on the earlier of (i) …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice