GECCH — what changed in the latest 10-Q
A section-by-section comparison of GECCH'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 · 2026-05-04 vs the prior 10-Q · 2025-11-04
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +17 | −21 | ~29 | 40 |
| Market risk (Item 3) | Text added/removed | +1 | −1 | ~2 | 2 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 0 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 1 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
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 · 2026-05-04
Dividend income decreased for the three months ended March 31, 2026 as compared to the three months ended March 31, 2025 due to fewer holdings in dividend-paying equity investments and reductions in distributions from the investment in the CLO JV which distributed $2.5 million and $3.3 million for t…
Other income decreased for the three months ended March 31, 2026 as compared to the three months ended March 31, 2025 primarily due to non-refundable carry fees, early repayment fees, and amendment fees on new and amended debt positions received during the three months ended March 31, 2025. These we…
Effective February 2026, GECM waived all accrued and unpaid incentive fees through March 31, 2026. As of December 31, 2025, there were approximately $2.3 million of accrued and unpaid incentive fees on our balance sheet. For the three months ended March 31, 2026, an additional $0.5 million of incent…
Administration fees increased for the three months ended March 31, 2026 as compared to the corresponding period in the prior year primarily due to higher allocable overhead and other expenses incurred by GECM under the Administration Agreement.
Realized gain for the three months ended March 31, 2026 includes approximately $2.7 million from the realization of our investment in Stone Ridge Opportunities Fund, LP (“Stone Ridge”) and $0.7 million from the partial realization of our investment in the unsecured bond of American Coastal Insurance…
Text removed vs the prior filing · source: 10-Q · 2025-11-04
Dividend income decreased for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024 due to fewer holdings in dividend-paying preferred stock investments and reductions in distributions from the investment in the CLO JV which distributed $1.5 million and $…
Other commitment fees decreased for the three and nine months ended September 30, 2025 as compared to the three and nine months ended September 30, 2024 due to termination of revolver commitments and associated commitment fees. Other income increased for the three and nine months ended September 30,…
There was no incentive fee accrued for the three months ended September 30, 2025 due to decreased investment income and capital raises during the period resulting in increased hurdles which is based on the average capital invested during the period. Despite the current quarter decrease, incentive fe…
Interest expense increased for the three months ended September 30, 2025 as compared to the three months ended September 30, 2024 due to the issuance of $50.0 million in aggregate principal amount of 7.75% notes due 2030 (the "GECCG Notes") in early September 2025 and the redemption of the $40.0 mil…
Net realized gain for the three months and nine ended September 30, 2025 includes approximately $4.3 million in gains on the investments in Nice-Pak Products, Inc. ("Nice-Pak") which were realized in connection with the merger with Vi-Jon and $1.9 million in gain on distributions from the investment…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-05-04
We are subject to financial market risks, including changes in interest rates. As of March 31, 2026, 11 debt investments in our portfolio bore interest at a fixed rate, and the remaining 43 debt investments were at variable rates, representing approximately $53.2 million and $146.0 million in princi…
Text removed vs the prior filing · source: 10-Q · 2025-11-04
We are subject to financial market risks, including changes in interest rates. As of September 30, 2025, 14 debt investments in our portfolio bore interest at a fixed rate, and the remaining 44 debt investments were at variable rates, representing approximately $70.6 million and $153.9 million in pr…
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