Great Elm Capital Corp.

For the period ended Sep 30, 2025. Filed Nov 4, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 4, 2025

GECC$5.00-0.4%Stored close · as of Nov 6, 2026

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Contents

Statements of Changes in Net Assets (unaudited)

	For the Three Months Ended September 30,		For the Nine Months Ended September 30,
	2025	2024	2025	2024
Increase (decrease) in net assets resulting from operations:
Net investment income	$2,433	$4,072	$12,913	$10,323
Net realized gain (loss)	6,156	223	6,879	2,109
Net change in unrealized appreciation (depreciation) on investments	(30,601)	(821)	(29,608)	(10,742)
Net increase (decrease) in net assets resulting from operations	(22,012)	3,474	(9,816)	1,690
Distributions to stockholders:
Distributions(1)	(4,932)	(3,657)	(13,484)	(10,274)
Total distributions to stockholders	(4,932)	(3,657)	(13,484)	(10,274)
Capital transactions:
Issuance of common stock, net	27,010	-	27,285	35,671
Net increase (decrease) in net assets resulting from capital transactions	27,010	-	27,285	35,671
Total increase (decrease) in net assets	66	(183)	3,985	27,087
Net assets at beginning of period	$140,032	$126,009	$136,113	$98,739
Net assets at end of period	$140,098	$125,826	$140,098	$125,826
Capital share activity
Shares outstanding at the beginning of the period	11,568,378	10,449,888	11,544,415	7,601,958
Issuance of common stock	2,429,790	-	2,453,753	2,847,930
Shares outstanding at the end of the period	13,998,168	10,449,888	13,998,168	10,449,888

(1)

Distributions were from distributable earnings for each of the periods presented.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.