Great Elm Capital Corp 2026年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF1934 For the quarterly period ended March 31, 2026 or Commission File Number: 814-01211 Great Elm Capital Corp.(Exact name of registrant as specified in its charter) Maryland(State or other jurisdiction of incorporation or organization) Registrant’s telephone number, including area code: (617) 375-3006 Name of each exchange on which registeredNasdaq Global Market Nasdaq Global MarketNasdaq Global MarketNasdaq Global MarketNasdaq Global Market Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days.Yes☒No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filer Accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YesNo☒ As of April 27, 2026, the registrant had 13,892,045 shares of common stock, $0.01 par value per share, outstanding. Table of Contents PART I.FINANCIAL INFORMATIONItem 1.Financial Statements3Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations3Item 3.Quantitative and Qualitative Disclosures About Market Risk14Item 4.Controls and Procedures15PART II.OTHER INFORMATIONItem 1.Legal Proceedings15Item 1A.Risk Factors16Item 2.Unregistered Sales of Equity Securities and Use of Proceeds16Item 5.Other Information16Item 6.Exhibits17Signatures18Index to Financial StatementsF-19Statements of Assets and Liabilities (unaudited)F-20Statements of Operations (unaudited)F-21Statements of Changes in Net Assets (unaudited)F-22Statements of Cash Flows (unaudited)F-23Schedules of Investments (unaudited)F-24Notes to the Unaudited Financial StatementsF-38 PART I—FINANCIAL INFORMATION Unless the context otherwise requires, all references to “GECC,” “we,” “us,” “our,” the “Company” and words of similar import areto Great Elm Capital Corp. and/or its subsidiaries. We reference materials on our website, www.greatelmcc.com, but nothing on ourwebsite shall be deemed incorporated by reference or otherwise contained in this report. Cautionary Note Regarding Forward-Looking Information Some of the statements in this report (including in the following discussion) constitute forward-looking statements, which relate tofuture events or our future performance or financial conditions. Important factors that could cause actual results to differ from thosein the forward-looking statements contained in this report include, without limitation: ▪our, or our portfolio companies’, future business, operations, operating results or prospects;▪the return or impact of current and future investments;▪the impact of a protracted decline in the liquidity of credit markets on our business;▪the impact of fluctuations in interest rates on our business;▪the impact of changes in laws or regulations governing our operations or the operations of our portfolio companies;▪our contractual arrangements and relationships with third parties;▪our current and future management structure;▪the general economy, including recessionary trends, and its impact on the industries in which we invest;▪the financial condition of and ability of our current and prospective portfolio companies to achieve their objectives;▪serious disruptions and catastrophic events;▪our expected financings and investments, including interest rate volatility;▪the adequacy of our financing resources and working capital;▪the ability of our investment adviser to locate suitable investments for us and to monitor and administer ourinvestments;▪the timing of cash flows, if any, from the operations of our portfolio companies;▪the timing, form and amount of any dividend distributions;▪the effect of social, economic, and political conditions and geopolitical even