Great Elm Group
GEG on Nasdaq. Market value $67m.
Should I look at this?
We have not checked this company yet
This is not advice.
Who owns it
None of the long-term investors we follow own it. 25 funds in all.
Largest holders overall
- Northern Right Capital Management, L.P.$9m
- Vanguard Capital Management$1m
- Renaissance Technologies$1mCut
- BlackRock$736,119
- Geode Capital Management$390,553Added
- Vanguard Fiduciary Trust$195,692
- State Street$180,759
- Bridgeway Capital Management$90,568
- Morgan Stanley$87,207Cut
- Citadel Advisors$79,853Added
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
5 investors own more than 5%.
- Jason Reeseat least 23.3%+1.0 pts(filed with 3 related holders)Since 8 September 2026
What they said
Item 4 is hereby supplemented as follows: As of the date of this Amendment, Long Ball is the holder of an aggregate principal amount of $8,755,560.00 of the Issuer's 5.0% Convertible Senior PIK Notes Due 2030 (the "PIK Notes"). The PIK Notes are convertible into Common Stock. On…
Read the filing - Drapkin Matthew Aat least 19.1%+0.1 pts(filed with 5 related holders)Since 10 July 2026
What they said
Item 4 is amended and supplemented to add the following information for updating as of the date hereof: As of the date of this Statement, each of Northern Right QP, NRC LO and Mr. Drapkin is the holder of an aggregate principal amount of $2,745,290, $1,016,880 and $342,021,…
Read the filing - Imperial Capital Asset Management, LLC17.9%Since 8 September 2025
What they said
Item 4 is hereby supplemented as follows: As of the date of this Amendment, Long Ball is the holder of an aggregate principal amount of $8,333,667.00 of the Issuer's 5.0% Convertible Senior PIK Notes Due 2030 (the "PIK Notes"). The PIK Notes are convertible into Common Stock. On…
Read the filing - Woodstead Value Fund, L.P.at least 14.4%(filed with 1 related holder)Since 27 August 2025
What they said
On August 27, 2025, the Issuer entered into the Securities Purchase Agreement with WVF, pursuant to which WVF purchased from the Issuer an aggregate of 4,000,000 shares of Common Stock, at a purchase price of $2.25 per share. Pursuant to the Securities Purchase Agreement, the…
Read the filing - PC Elfun LLCPassive investorat least 9.9%(filed with 3 related holders)Since 30 June 2025
- Northern Right Fund GP LLCSold down below 5%Since 13 January 2025
What they said
Item 4 is amended and supplemented to add the following information for updating as of the date hereof: As of the date of this Statement, each of Northern Right QP, NRC LO and Mr. Drapkin is the holder of an aggregate principal amount of $2,881,132.32, $612,413.00 and…
Read the filing
| Holder | Stake | Since | |
|---|---|---|---|
Jason Reese | at least 23.3%+1.0 pts (filed with 3 related holders) | 8 September 2026 | What they saidItem 4 is hereby supplemented as follows: As of the date of this Amendment, Long Ball is the holder of an aggregate principal amount of $8,755,560.00 of the Issuer's 5.0% Convertible Senior PIK Notes Due 2030 (the "PIK Notes"). The PIK Notes are convertible into Common Stock. On… Read the filing |
Drapkin Matthew A | at least 19.1%+0.1 pts (filed with 5 related holders) | 10 July 2026 | What they saidItem 4 is amended and supplemented to add the following information for updating as of the date hereof: As of the date of this Statement, each of Northern Right QP, NRC LO and Mr. Drapkin is the holder of an aggregate principal amount of $2,745,290, $1,016,880 and $342,021,… Read the filing |
Imperial Capital Asset Management, LLC | 17.9% | 8 September 2025 | What they saidItem 4 is hereby supplemented as follows: As of the date of this Amendment, Long Ball is the holder of an aggregate principal amount of $8,333,667.00 of the Issuer's 5.0% Convertible Senior PIK Notes Due 2030 (the "PIK Notes"). The PIK Notes are convertible into Common Stock. On… Read the filing |
Woodstead Value Fund, L.P. | at least 14.4% (filed with 1 related holder) | 27 August 2025 | What they saidOn August 27, 2025, the Issuer entered into the Securities Purchase Agreement with WVF, pursuant to which WVF purchased from the Issuer an aggregate of 4,000,000 shares of Common Stock, at a purchase price of $2.25 per share. Pursuant to the Securities Purchase Agreement, the… Read the filing |
PC Elfun LLC Passive investor | at least 9.9% (filed with 3 related holders) | 30 June 2025 | |
Northern Right Fund GP LLC | Sold down below 5% | 13 January 2025 | What they saidItem 4 is amended and supplemented to add the following information for updating as of the date hereof: As of the date of this Statement, each of Northern Right QP, NRC LO and Mr. Drapkin is the holder of an aggregate principal amount of $2,881,132.32, $612,413.00 and… Read the filing |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
Warning signs in its filings
Problems the company itself reported to the SEC, in its own words.
None of the warning signs we check for were found.
We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.
We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Aug 2026, and no later 8-Ks.
A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.