{ "schemaVersion": "deck-intelligence.v1", "id": "019de075-b52f-71f7-85ad-81c9cd075071", "slug": "b8cf0852a6c08b94d57b102ce20f38b6", "title": "Main Street Capital | Fixed Income Presentation Deck | 42 slides", "subtitle": "Main Street Capital Corporation · 2023-08", "author": "Main Street Capital Corporation", "date": "2023-08-01 00:00:00", "pageCount": 42, "kind": "conference-presentation", "orientation": "landscape", "aspectRatio": 1.3333334, "document": { "id": "019de075-b52f-71f7-85ad-81c9cd075071", "slug": "b8cf0852a6c08b94d57b102ce20f38b6", "title": "Main Street Capital | Fixed Income Presentation Deck | 42 slides", "rawTitle": "Main Street Capital | Fixed Income Presentation Deck | 42 slides", "authorId": "main-street-capital", "authorName": "Main Street Capital Corporation", "authorDisplay": "Main Street Capital Corporation", "kind": { "slug": "conference-presentation", "label": "Conference presentation" }, "sourceType": { "slug": "investor_relations", "label": "Investor relations" }, "fileName": "2023-08__main-street-capital__fixed-income__b8cf0852.pdf", "sourceUrl": "https://www.slidebook.io/company/main-street-capital/presentation/b8cf0852a6c08b94d57b102ce20f38b6/", "sourceDate": "2023-06-30 00:00:00", "presentationDate": "2023-08-01 00:00:00", "ingestedAt": "2026-04-30 22:15:03.83038+00", "status": "ready", "pageCount": 42, "orientation": "landscape", "aspectRatio": 1.3333334, "targetCompany": null, "targetTicker": null, "metadata": { "corpus": "slidebook", "industry": "asset-management", "local_root": "/Users/miguelsuredasuau/Desktop/lalalalla/_scrape/slidebook/decks/2023-08__main-street-capital__fixed-income__b8cf0852", "image_width": 1920, "image_format": "jpg", "deck_type_raw": "Fixed Income Presentation Deck", "deck_type_slug": null, "source_url_pattern": "https://www.slidebook.io/company/{company_slug}/presentation/{deck_id}/" } }, "coverage": { "pageCount": 42, "pagesIndexed": 42, "pagesWithImages": 42, "pagesWithMetadata": 42, "imageCoveragePct": 100, "metadataCoveragePct": 100, "componentCount": 200, "chartCount": 6, "metricSlides": 0, "toolMatches": 21, "documentToolMatches": 0, "frameworkMatches": 1, "arcMatches": 1, "beatMatches": 5, "loopMatches": 2, "patternMatches": 0, "storymakersMatch": false, "scoreAvailable": false, "reviewAvailable": false, "activistThesisAvailable": false, "pitchdeckMetadataAvailable": false, "pitchdeckProfileAvailable": false }, "blocks": [], "matches": { "arcs": [ { "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "evidence": "The document follows a similar structure to a Sequoia Pitch, with sections on problem, solution, market size, product, and team", "isPrimary": true, "confidence": 0.8, "extraction": { "at": "2026-07-16 22:37:00.054271+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "beats": [ { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 4, "name": "Problem", "beatId": "f69fad04-3b63-4dfa-9c55-a2fd16c220e9", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 24, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 23, "name": "Market Size", "beatId": "87c7f0df-1461-4b95-afa1-ebe84607a97c", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Market Size", "slug": "sequoia-pitch-market-size", "status": "active", "canonId": "019dd9b8-20e6-729c-bc28-05442906d032", "version": 1, "description": null }, "evidence": "The document presents an overview of the LMM investment opportunity", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 26, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 25, "name": "Product", "beatId": "fd42084a-99f6-4a0a-828d-452afc5f7bc1", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Product", "slug": "sequoia-pitch-product", "status": "active", "canonId": "019dd9b8-2259-77df-a937-8b665c8066fe", "version": 1, "description": null }, "evidence": "The document describes MAIN's private loan investment strategy and middle market debt investment strategy", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 }, { "to": 15, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null, "categoryName": "Strategy & Business", "categorySlug": "strategy-business" }, "from": 14, "name": "Team", "beatId": "1eb635da-256d-4611-991a-2881144b1936", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Team", "slug": "sequoia-pitch-team", "status": "active", "canonId": "019dd9b8-23c9-746f-aaf9-2f5d83892cf3", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's executive management team and significant management ownership", "position": 4, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 20, "from": 20, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null, "categoryName": "Urgency", "categorySlug": "urgency" }, "matchId": "f47e6837-bcee-4a06-97a9-f004e49901b1", "evidence": "The document presents a table on interest rate impact and sensitivity", "position": 0, "objective": "Highlighting the impact of interest rate changes on MAIN's portfolio", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:37:00.323273+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } }, { "to": 6, "from": 4, "loop": { "name": "51_voice_of_customer", "slug": "51-voice-of-customer", "status": "active", "bestFor": "Product strategy, customer experience, market research", "canonId": "019dd956-7aaf-750b-950b-af0df38f5266", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "What Customers Say (Verbatim) -> The Pattern Across Voices -> The Insight -> The Response", "description": "Let customer quotes and feedback drive the narrative and validate the insight", "familyLabel": null, "categoryName": "Validation", "categorySlug": "validation" }, "matchId": "5ce3098e-332c-436c-a60a-f827bcca4522", "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 1, "objective": "Presenting MAIN's investment strategy and portfolio", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:37:00.368901+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "tools": [ { "tool": { "name": "Slide recipe: Cover", "slug": "cover-slide", "status": "active", "bestFor": null, "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3", "version": 1, "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65", "description": "The first ten seconds. Build it deliberately.", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "be715617-3cdd-47ad-8c58-853481f89ced", "evidence": "Title and logo for Debt Capital Markets Presentation", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:43.68474+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "51651f65-b2f8-4a35-b6b3-115c0338aac4", "evidence": "Summary of Main Street Capital Corporation's business", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:43.819346+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "e163136e-4279-46bf-9ca8-d9f99e182a7d", "evidence": "table/valuation: Capitalization table showing Cash, Credit Facilities, Notes, SBIC Debentures, Total Debt, Book Value of Equity, and Total Capitalization with percentages.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.314994+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "a8f0e270-6ce5-4c9d-837a-1a701ac18407", "evidence": "table/data: Table showing Assets, Debt, NAV, and Leverage Ratios for Non-SBIC, SBICs, and Total.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.38117+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6d6d4687-20b0-4879-b921-5ba0728f5a9d", "evidence": "table/data: Historical Asset Coverage Ratio table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.445174+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "13ff4b5e-48c2-47d9-b6e1-157324cea600", "evidence": "Table comparing Total Assets, SBIC Assets, Secured Debt, and Unsecured Debt between 9/30/2014 and 6/30/2023.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.509968+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "acb551fe-65e4-4d0e-87f4-ab65f425b510", "evidence": "table/data: Management (1) | 3,515,461 | $140,723,904", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.64343+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "95c79169-1e73-46b6-bcf7-e23c670dabf6", "evidence": "table/data: Facility, Interest Rate, Maturity, Principal table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.772342+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 18, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9a821159-d395-496e-a06a-2769a71dcc7e", "evidence": "table/data: Sensitivity table showing basis point changes from -100 to 100 and corresponding impacts on income and per share data.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.870934+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "5e3f154e-3033-468d-8d63-f4e6f6110e22", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:40.850091+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 21, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "be0beca7-ac96-4822-b0f5-c10aa5ebb7d8", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:40.916523+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 22, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "548deeda-5d72-443a-8cee-1f14a6d3348a", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:41.010596+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 24, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "dd1c52b7-7d1f-406f-b044-cca299317132", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:41.073799+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 25, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "fe79ab22-e810-4211-b482-0a69e8fa0d6b", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:41.137961+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 26, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Audience Definition", "slug": "audience-definition", "status": "active", "bestFor": null, "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756", "version": 1, "bodyDocId": null, "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?", "familyLabel": null, "categoryName": "Block", "categorySlug": "block" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "d5f634c4-adc4-4a96-83bf-6ea389a82e54", "evidence": "LMM investment portfolio consists of a diversified mix of secured debt and lower cost basis equity investments", "pageRefs": null, "priority": "Core", "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 00:30:35.859598+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 33, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Data Story Arc", "slug": "data-story-arc", "status": "active", "bestFor": null, "canonId": "019dd956-9c30-728e-b974-d3fb123dcf5a", "version": 1, "bodyDocId": null, "description": "Context → Conflict → Insight → Implication structure for data narratives", "familyLabel": null, "categoryName": "Loop", "categorySlug": "loop" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "6667a439-d3c9-4a30-805d-e59e62d64d40", "evidence": "list/bullet: Equity ownership in all LMM portfolio companies representing 40% average ownership position (28% of LMM portfolio at cost); Lower entry multiple valuations; Opportunity for dividend income; 59% of LMM compan", "pageRefs": null, "priority": "Core", "whenToUse": null, "confidence": 0.6, "extraction": { "at": "2026-07-17 00:30:35.897033+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 33, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Analytical method", "slug": "analytical-method", "status": "active", "bestFor": null, "canonId": "b42c4911-7946-49b5-951c-5f3d23f4e2bd", "version": 1, "bodyDocId": null, "description": "Diagnostic / structuring methods (5-whys, fishbone, issue tree, hypothesis-driven).", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "b16edcb0-03bd-4a74-9dc2-4fca66d2d452", "evidence": "Median LMM portfolio credit statistics(1): Senior leverage of 3.0x EBITDA through MAIN debt position; 2.4x EBITDA to senior interest coverage; Total leverage of 3.0x EBITDA including debt junior in priority", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:30:35.971187+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 34, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "2x2 matrix", "slug": "matrix-2x2", "status": "active", "bestFor": null, "canonId": "019dd9e1-50ab-72d1-8afb-3ab0a38e32a8", "version": 1, "bodyDocId": null, "description": "BCG matrix, importance/urgency, any axes-and-quadrants frame.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "5a311217-8cdd-4029-a03d-9d8f1f8618f0", "evidence": "not clear evidence", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.5, "extraction": { "at": "2026-07-17 00:30:36.066776+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 35, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "4d021d19-91b4-4e94-9068-bedabb8a3874", "evidence": "Income statement data table with columns for Q2 22, Q3 22, Q4 22, Q1 23, Q2 23, and Q2 23 vs. Q2 22 Change.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:36.254773+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 39, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "f21d3464-a445-4ac9-980a-ed5a4c08b3d6", "evidence": "Table showing quarterly NAV per share reconciliation", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:36.330736+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 40, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null }, { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6d8c31ae-b63a-4bb4-83b2-53e155b94b0f", "evidence": "list/bullet: Board of Directors, Executive Officers, Research Coverage, Corporate Headquarters, Investor Relation Contacts, Corporate Counsel, Securities Listing, Transfer Agent, Management Executive Committee, Investmen", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:30:36.439055+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 42, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [ { "matchId": "2621be4a-1fbf-4154-9cb1-3f0c88aa1ed3", "evidence": "The slide breaks down the total portfolio into segments and then further decomposes the debt segment.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "frameworkName": "decomposition" } ], "patterns": [] }, "storymakers": null, "score": null, "review": null, "activistThesis": null, "pitchdeck": { "metadata": null, "profile": null }, "slides": [ { "page": 1, "type": "setup", "function": "front_matter", "imagePath": "https://imgproxy.kitesheet.com/A8U9ruSe5RZcrmMlMqB2jDlawto_P9LM3FH7KKgClt8/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iOGNmMDg1MmE2YzA4Yjk0ZDU3YjEwMmNlMjBmMzhiNi9wMDAxLmpwZw", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "balanced", "densityScore": 44, "componentCount": 6, "textChars": 139, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:53.753+00", "seconds": 3.119, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/1", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-1", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.135, "w": 0.404, "x": 0.298, "y": 0.23 }, "kind": "image", "text": "MAIN ST CAPITAL CORPORATION", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.753+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ba29ad43-1abe-40c5-800e-18a680f39e32", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.089, "x": 0.478, "y": 0.942 }, "kind": "paragraph", "text": "NYSE: MAIN", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.753+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2cd9eac7-0238-4edb-851f-a3d54a5ffc4e", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.296, "x": 0.024, "y": 0.942 }, "kind": "paragraph", "text": "Main Street Capital Corporation", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.753+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4d2c0a72-4f3d-4580-8497-302c0a26860e", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.156, "x": 0.82, "y": 0.942 }, "kind": "paragraph", "text": "mainstcapital.com", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.753+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8dd85f40-df62-4c06-a523-d55919c6d865", "parentComponentId": null }, { "bbox": { "h": 0.045, "w": 0.59, "x": 0.205, "y": 0.573 }, "kind": "title", "text": "Debt Capital Markets Presentation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.753+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4d1a22d5-760f-47b9-9be8-f19adf0217a9", "parentComponentId": null }, { "bbox": { "h": 0.035, "w": 0.304, "x": 0.348, "y": 0.651 }, "kind": "title", "text": "Second Quarter – 2023", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.753+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "afe0b4a9-a1c4-4154-911b-9a1e43aac2b7", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Slide recipe: Cover", "slug": "cover-slide", "status": "active", "bestFor": null, "canonId": "019df269-2a08-767d-9128-e7431e6fe8a3", "version": 1, "bodyDocId": "019df269-29e5-7738-b5fa-6892e5dc8e65", "description": "The first ten seconds. Build it deliberately.", "familyLabel": "slide-recipe", "categoryName": "Slide", "categorySlug": "slide" }, "agent": "designer", "layer": "slide", "agents": [ "designer" ], "matchId": "be715617-3cdd-47ad-8c58-853481f89ced", "evidence": "Title and logo for Debt Capital Markets Presentation", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:43.68474+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 1, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "thumbSrc": "https://imgproxy.kitesheet.com/w37mupxELTtfp2GtC9Jm6LFLHI7QUeCNerQuGdp_hys/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iOGNmMDg1MmE2YzA4Yjk0ZDU3YjEwMmNlMjBmMzhiNi9wMDAxLmpwZw", "imagePathAlt": "https://imgproxy.kitesheet.com/22k5Sf-7nIkRAZW2zGq78Gt14NEha8cs1S0djRi4gY8/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iOGNmMDg1MmE2YzA4Yjk0ZDU3YjEwMmNlMjBmMzhiNi9wMDAxLnBuZw", "thumbSrcAlt": "https://imgproxy.kitesheet.com/B5YGFH_ZbxWCl9cSxb1mTzhwZsR4_Hu6towKS-AMa2Q/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9iOGNmMDg1MmE2YzA4Yjk0ZDU3YjEwMmNlMjBmMzhiNi9wMDAxLnBuZw" }, { "page": 2, "type": "setup", "function": "other", "rawType": "disclaimer", "block": null, "metadata": { "slideType": "disclaimer", "slideTypeCanon": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "019de52d-0801-727b-b98a-5ed095aeee78", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "balanced", "densityScore": 25, "componentCount": 3, "textChars": 277, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:52.808+00", "seconds": 2.079, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/2", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-2", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.68, "w": 0.88, "x": 0.06, "y": 0.19 }, "kind": "disclaimer", "text": "Main Street Capital Corporation (MAIN) cautions that statements in this presentation that are forward-looking, and provide other than historical information, involve risks and uncertainties that may impact our future results of operations.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:52.808+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7ab5fbdf-1c8f-48b5-a763-c8f5a6aafe8a", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.14, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "MAIN ST CAPITAL CORPORATION", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:52.808+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "670762b4-5003-4f0f-b52f-eef2109981e3", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.15, "x": 0.06, "y": 0.11 }, "kind": "title", "text": "Disclaimers", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:52.808+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "860dd4c5-7978-4166-a28b-a1f6a71e69e9", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 3, "type": "setup", "function": "front_matter", "rawType": "cover", "block": null, "metadata": { "slideType": "cover", "slideTypeCanon": { "name": "Cover", "slug": "cover", "status": "active", "canonId": "019de52d-05f2-729d-9f93-e0504f0a2410", "version": 1, "description": null }, "function": "front_matter", "functionCanon": { "name": "Front matter", "slug": "front_matter", "status": "active", "canonId": "019de52d-133d-73f0-9e26-201eda96b098", "version": 1, "description": null }, "density": "sparse", "densityScore": 13, "componentCount": 3, "textChars": 85, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:53.613+00", "seconds": 2.389, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/3", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-3", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "Main Street Capital Corporation logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.613+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "58f57fd0-7ffd-4e11-b941-1a309767dd50", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.45, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Main Street Capital Corporation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.613+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e9579628-1ccb-4731-9c89-66daddb7cb0a", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.8, "x": 0.1, "y": 0.45 }, "kind": "title", "text": "2nd Quarter – 2023", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:53.613+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a4b77be6-aa4f-4ff8-bf55-b79ea8ae3db3", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 4, "type": "setup", "function": "establish_context", "rawType": "executive_summary", "block": null, "metadata": { "slideType": "executive_summary", "slideTypeCanon": { "name": "Executive summary", "slug": "executive_summary", "status": "active", "canonId": "019de52d-06be-73ff-81b3-f99fe7f0025e", "version": 1, "description": null }, "function": "establish_context", "functionCanon": { "name": "Establish context", "slug": "establish_context", "status": "active", "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf", "version": 1, "description": null }, "density": "dense", "densityScore": 68, "componentCount": 5, "textChars": 794, "nDataPoints": 6, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:54.307+00", "seconds": 3.007, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/4", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-4", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.7, "w": 0.6, "x": 0.35, "y": 0.18 }, "kind": "list", "text": "Internally-managed Business Development Company (BDC)\nIPO in 2007\nOver $6.7 billion in capital under management\nPrimarily invests in the under-served Lower Middle Market (LMM)\nProprietary debt investments in privately held companies\nDebt investments in Middle Market companies\nAttractive asset management advisory business\nSignificant management ownership / investment in MAIN\nHeadquartered in Houston, Texas", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.307+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "03249d0e-66e5-4bf6-93dc-eff6f30bce30", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.25, "x": 0.05, "y": 0.58 }, "kind": "list", "text": "S&P – BBB-/stable outlook\nFitch – BBB-/stable outlook", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.307+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9c6e8de7-ca33-489d-a125-464e11ac2f00", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.28, "x": 0.05, "y": 0.18 }, "kind": "paragraph", "text": "Focus on unique Lower Middle Market debt and equity investment strategy, Asset Management Business and internally managed operating structure differentiates MAIN from other investment firms", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.307+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ba17a67f-d4c9-4c4d-8324-3d72338530d9", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.6, "x": 0.05, "y": 0.92 }, "kind": "source-note", "text": "(1) Capital under management includes undrawn portion of debt capital as of June 30, 2023", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.307+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "07596f99-d35c-41f7-8aec-df7b0f13be7b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.75, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "MAIN is a Principal Investor in Private Debt and Equity", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.307+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "75017908-ddf4-45e6-9571-1df0eeac9757", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Executive summary", "slug": "executive-summary", "status": "active", "bestFor": null, "canonId": "019dd9e1-4b63-72d5-9734-da757d91ca61", "version": 1, "bodyDocId": null, "description": "A condensed view of the entire argument on a single slide / block.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "51651f65-b2f8-4a35-b6b3-115c0338aac4", "evidence": "Summary of Main Street Capital Corporation's business", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:43.819346+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 4, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 4, "name": "Problem", "beatId": "f69fad04-3b63-4dfa-9c55-a2fd16c220e9", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 6, "from": 4, "loop": { "name": "51_voice_of_customer", "slug": "51-voice-of-customer", "status": "active", "bestFor": "Product strategy, customer experience, market research", "canonId": "019dd956-7aaf-750b-950b-af0df38f5266", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "What Customers Say (Verbatim) -> The Pattern Across Voices -> The Insight -> The Response", "description": "Let customer quotes and feedback drive the narrative and validate the insight", "familyLabel": null }, "matchId": "5ce3098e-332c-436c-a60a-f827bcca4522", "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 1, "objective": "Presenting MAIN's investment strategy and portfolio", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:37:00.368901+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 5, "type": "analysis", "title": "The slide uses a 'drill-down' visual technique to show the composition of the 'Debt Investments' segment.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 5, "textChars": 223, "nDataPoints": 6, "notes": "The slide uses a 'drill-down' visual technique to show the composition of the 'Debt Investments' segment.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:54.595+00", "seconds": 3.032, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/5", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-5", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.55, "w": 0.35, "x": 0.14, "y": 0.225 }, "kind": "chart", "text": "Total Investment Portfolio $4.2 billion", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Pie chart", "slug": "pie", "status": "active", "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373", "version": 1, "description": null }, "framework": null }, "subkind": "pie", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2d66f5da-a0ce-4860-977a-806800b1225d", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.25, "x": 0.62, "y": 0.4 }, "kind": "chart", "text": "Total Debt Investments $2.9 billion", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Pie chart", "slug": "pie", "status": "active", "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373", "version": 1, "description": null }, "framework": null }, "subkind": "pie", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f78c3621-c5d0-4ffd-a378-102de832e7e7", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": null, "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2e46ccd6-aa4b-403b-8d75-7427d6686b74", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.89 }, "kind": "source-note", "text": "(1) Fair value as of June 30, 2023\n(2) Other portfolio investments, as described in MAIN's SEC filings", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5b5ae565-94a4-4532-9fd6-015ed6fec5bf", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "Investment Portfolio – By Type of Investment(1)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1a7b7054-60ac-41ec-b001-d761f18dbb60", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [ { "matchId": "2621be4a-1fbf-4154-9cb1-3f0c88aa1ed3", "evidence": "The slide breaks down the total portfolio into segments and then further decomposes the debt segment.", "framework": null, "confidence": 0.9, "extraction": { "at": "2026-05-02 11:34:54.595+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 5, "frameworkName": "decomposition" } ], "arcBeats": [ { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 4, "name": "Problem", "beatId": "f69fad04-3b63-4dfa-9c55-a2fd16c220e9", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 6, "from": 4, "loop": { "name": "51_voice_of_customer", "slug": "51-voice-of-customer", "status": "active", "bestFor": "Product strategy, customer experience, market research", "canonId": "019dd956-7aaf-750b-950b-af0df38f5266", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "What Customers Say (Verbatim) -> The Pattern Across Voices -> The Insight -> The Response", "description": "Let customer quotes and feedback drive the narrative and validate the insight", "familyLabel": null }, "matchId": "5ce3098e-332c-436c-a60a-f827bcca4522", "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 1, "objective": "Presenting MAIN's investment strategy and portfolio", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:37:00.368901+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 6, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 64, "componentCount": 7, "textChars": 281, "nDataPoints": 4, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:54.257+00", "seconds": 2.615, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/6", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-6", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "MAIN ST CAPITAL CORPORATION", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ccf4c728-1838-48e3-8e9d-6d15fa287be3", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.3, "x": 0.32, "y": 0.18 }, "kind": "list", "text": "Lower Middle Market (LMM) details", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "30a95bcc-a6a7-4765-80db-f9f1bebbee99", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.3, "x": 0.63, "y": 0.57 }, "kind": "list", "text": "Asset Management Business details", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "35dcc86b-94e0-4282-a83d-dd03041f6b56", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.3, "x": 0.32, "y": 0.57 }, "kind": "list", "text": "Middle Market details", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "52805eda-5f26-4521-8faf-121596417e03", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.3, "x": 0.63, "y": 0.18 }, "kind": "list", "text": "Private Loans details", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c2779522-37d5-4957-ba35-e4a8bff2ee5f", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.25, "x": 0.06, "y": 0.21 }, "kind": "paragraph", "text": "MAIN's investment strategy differentiates MAIN from its competitors and provides highly attractive risk-adjusted returns", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "55572479-c9e9-43c7-8c35-961a40ec479e", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.35, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "Unique Investment Strategy", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.257+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c9fce66a-dd09-420a-8202-7c05e24b23d7", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 6, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 4, "name": "Problem", "beatId": "f69fad04-3b63-4dfa-9c55-a2fd16c220e9", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Problem", "slug": "sequoia-pitch-problem", "status": "active", "canonId": "019dd9b8-1ed4-767b-8e05-40e733bd2311", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 0, "isPrimaryArc": true, "parentBeatType": { "name": "Complication", "slug": "complication", "status": "active", "canonId": "019dd9b8-0275-7709-b2d6-4f77c3fc7579", "version": 1, "description": "The point in the narrative where the audience should feel discomfort. Required for argumentative arcs." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [ { "to": 6, "from": 4, "loop": { "name": "51_voice_of_customer", "slug": "51-voice-of-customer", "status": "active", "bestFor": "Product strategy, customer experience, market research", "canonId": "019dd956-7aaf-750b-950b-af0df38f5266", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "What Customers Say (Verbatim) -> The Pattern Across Voices -> The Insight -> The Response", "description": "Let customer quotes and feedback drive the narrative and validate the insight", "familyLabel": null }, "matchId": "5ce3098e-332c-436c-a60a-f827bcca4522", "evidence": "The document presents an overview of MAIN's investment portfolio and strategy", "position": 1, "objective": "Presenting MAIN's investment strategy and portfolio", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:37:00.368901+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 7, "type": "analysis", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 86, "componentCount": 7, "textChars": 907, "nDataPoints": 24, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:59.132+00", "seconds": 7.482, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/7", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-7", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.12, "w": 0.92, "x": 0.04, "y": 0.825 }, "kind": "disclaimer", "text": "(1) As of June 30, 2023; investment amounts at fair value, unless otherwise noted (2) As of June 30, 2023; based on cost (3) As of June 30, 2023; weighted-average effective yield is calculated using the applicable interest rate as of June 30, 2023 and includes amortization of deferred debt origination fees and accretion of original issue discount, but excludes fees payable upon repayment of the debt instruments and any debt investments on non-accrual status (4) Includes $134.0 million of fair value ($29.5 million of cost basis) of equity investment relating to MAIN’s wholly-owned unconsolidated subsidiary, MSC Adviser I, LLC (the External Investment Manager)", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "86e9abff-7d69-405f-9181-b344b4a657f9", "parentComponentId": null }, { "bbox": { "h": 0.48, "w": 0.31, "x": 0.63, "y": 0.17 }, "kind": "list", "text": "Private Loans metrics", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0deb6b4e-7f6e-478f-b393-de5ca3b37067", "parentComponentId": null }, { "bbox": { "h": 0.48, "w": 0.31, "x": 0.31, "y": 0.17 }, "kind": "list", "text": "Lower Middle Market metrics", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a055507c-b0d1-4207-bf9c-3e0a31d30b16", "parentComponentId": null }, { "bbox": { "h": 0.32, "w": 0.31, "x": 0.31, "y": 0.505 }, "kind": "list", "text": "Middle Market metrics", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a92bf80a-7858-4ba2-974c-1cccd4f2a379", "parentComponentId": null }, { "bbox": { "h": 0.32, "w": 0.31, "x": 0.63, "y": 0.505 }, "kind": "list", "text": "Total Portfolio metrics", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bb6eb63a-8090-4d3d-9c8e-16f97ae90db6", "parentComponentId": null }, { "bbox": { "h": 0.12, "w": 0.27, "x": 0.06, "y": 0.215 }, "kind": "paragraph", "text": "The benefits of MAIN’s unique investment strategy have resulted in a high quality, diversified and mature investment portfolio", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3c03f7e5-81ff-4e2c-bb33-93813fb5f46c", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.34, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "Portfolio Highlights(1)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.132+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1e5e92f1-3688-44ac-809f-b16bed838a17", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 8, "type": "appendix", "function": "establish_context", "rawType": "other", "block": null, "metadata": { "slideType": "other", "slideTypeCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-0af5-71ed-83de-d51ae245fc43", "version": 1, "description": null }, "function": "establish_context", "functionCanon": { "name": "Establish context", "slug": "establish_context", "status": "active", "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 4, "textChars": 399, "nDataPoints": 5, "notes": null, "elementsJson": null, "confidence": 0.95, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:54.776+00", "seconds": 2.744, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/8", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-8", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "Main Street Capital Corporation logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "83256e47-73c5-4209-a008-db5ea4341a94", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "Leverage: Regulatory restrictions... 1.5x ratio. Full Transparency: Detailed schedule... Quarterly fair value. Income Tax Treatment: RIC status... 90% distribution... 4% excise tax... REIT comparison.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "894bc6a5-b416-48d4-aaa2-a6c29de5bb5b", "parentComponentId": null }, { "bbox": { "h": 0.4, "w": 0.3, "x": 0.05, "y": 0.2 }, "kind": "list", "text": "Created by Congress in 1980... Highly regulated by the SEC... Provide a way for individual investors to participate...", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "941d0e4d-0ea2-4f39-847f-bcec9ae44e35", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Business Development Company (BDC) Background", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.776+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9c499ac4-03ee-460a-8d24-637762556a71", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 9, "type": "analysis", "title": "Includes footnotes explaining debt components and valuation metrics.", "function": "analyze_data", "rawType": "valuation_table", "block": null, "metadata": { "slideType": "valuation_table", "slideTypeCanon": { "name": "Valuation table", "slug": "valuation_table", "status": "active", "canonId": "019de52d-12c3-77cd-8474-6cd39cf844cb", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 53, "componentCount": 4, "textChars": 465, "nDataPoints": 25, "notes": "Includes footnotes explaining debt components and valuation metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:55.119+00", "seconds": 3.067, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/9", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-9", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.86 }, "kind": "subtitle", "text": "(1) Includes MAIN's corporate revolving credit facility... (2) Debt amounts reflected at par value (3) Based on stock price of $40.03 as of June 30, 2023", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7ee52d71-0bca-4018-805a-25503afad7b0", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.7, "x": 0.15, "y": 0.63 }, "kind": "table", "text": "Leverage ratios including Debt/Capitalization, Debt/Book equity, Debt/Enterprise value, Debt/Market capitalization, and Stock price/NAV.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ea200f58-583d-4f46-8dbe-269104e96eeb", "parentComponentId": null }, { "bbox": { "h": 0.45, "w": 0.7, "x": 0.15, "y": 0.185 }, "kind": "table", "text": "Capitalization table showing Cash, Credit Facilities, Notes, SBIC Debentures, Total Debt, Book Value of Equity, and Total Capitalization with percentages.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Valuation table", "slug": "valuation", "status": "active", "canonId": "019de52d-034c-74ed-b5c8-22b5e6ac196d", "version": 1, "description": null }, "framework": null }, "subkind": "valuation", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "daf623c2-65aa-4930-8f32-1ab0a0280ab3", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.35, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "MAIN Capital Structure", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8cdc827f-d372-4cfc-bc50-421850f8ac12", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "e163136e-4279-46bf-9ca8-d9f99e182a7d", "evidence": "table/valuation: Capitalization table showing Cash, Credit Facilities, Notes, SBIC Debentures, Total Debt, Book Value of Equity, and Total Capitalization with percentages.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.314994+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 9, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 10, "type": "analysis", "title": "The slide provides a detailed breakdown of debt capital, NAV, and various coverage/leverage ratios with extensive footnotes explaining the calculation methodolo", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 4, "textChars": 244, "nDataPoints": 35, "notes": "The slide provides a detailed breakdown of debt capital, NAV, and various coverage/leverage ratios with extensive footnotes explaining the calculation methodology.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:57.362+00", "seconds": 5.261, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/10", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-10", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "Main Street Capital Corporation logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.362+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "39103cdf-e3ce-4c5f-837d-a4f1320261f9", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.75 }, "kind": "subtitle", "text": "Footnotes (1) through (8) detailing calculation methodologies and definitions for the leverage metrics.", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.362+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1d228afc-6982-4068-bd7d-5d16ab82f7f8", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.74, "x": 0.13, "y": 0.175 }, "kind": "table", "text": "Table showing Assets, Debt, NAV, and Leverage Ratios for Non-SBIC, SBICs, and Total.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.362+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "63647149-0f03-462b-9de2-a8b8f7e97eab", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.35, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Conservative Leverage", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.362+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "482a7b6d-b449-42b7-9927-149f18e1d2c9", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "a8f0e270-6ce5-4c9d-837a-1a701ac18407", "evidence": "table/data: Table showing Assets, Debt, NAV, and Leverage Ratios for Non-SBIC, SBICs, and Total.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.38117+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 10, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 11, "type": "analysis", "title": "The table tracks regulatory compliance and leverage headroom from 2018 to Q2 2023.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 81, "componentCount": 6, "textChars": 1045, "nDataPoints": 30, "notes": "The table tracks regulatory compliance and leverage headroom from 2018 to Q2 2023.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:55.358+00", "seconds": 3.208, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/11", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-11", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.06, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "paragraph", "text": "Passage of the Small Business Credit Availability Act in December 2017 provided the opportunity for BDCs to obtain board or shareholder approval to access additional leverage by lowering the required asset coverage to 1.50x", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.358+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "27992f65-0985-40d5-9a8a-a71b839a5e56", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.9, "x": 0.05, "y": 0.33 }, "kind": "paragraph", "text": "MAIN has historically operated at conservative regulatory leverage levels, in all cases with significant cushion to the 1.50x regulatory limits, and proven through historical performance that MAIN does not require access to additional leverage to generate market leading returns", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.358+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "60c990dc-c839-4b85-b755-55f7ee5aa0d3", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.9, "x": 0.05, "y": 0.27 }, "kind": "paragraph", "text": "MAIN received shareholder approval, effective as of May 3, 2022, to adopt the 1.50x asset coverage ratio", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.358+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8cb97d6b-2a41-4fc9-b919-dcb330adb807", "parentComponentId": null }, { "bbox": { "h": 0.06, "w": 0.9, "x": 0.05, "y": 0.87 }, "kind": "source-note", "text": "(1) Calculated per BDC regulations; SBIC Debentures are not included as “senior debt” for purposes of the Minimum Asset Coverage Ratio requirements pursuant to exemptive relief received by MAIN\n(2) We received shareholder approval, effective as of May 3, 2022, to adopt the 1.5x asset coverage ratio (decreased from the previously required asset coverage ratio of 2.0x)", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.358+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f36ea09e-8d66-4e46-b69c-2a33854a125a", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "table", "text": "Historical Asset Coverage Ratio table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.358+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "53372225-e8bb-4f2a-97ce-89e438dfb41f", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.4, "x": 0.05, "y": 0.09 }, "kind": "title", "text": "Conservative Leverage - Regulatory", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.358+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "aa7b983b-19ad-4a2b-a98a-2bd89cd5663f", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6d6d4687-20b0-4879-b921-5ba0728f5a9d", "evidence": "table/data: Historical Asset Coverage Ratio table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.445174+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 11, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 12, "type": "analysis", "title": "The slide highlights the increase in excess collateral as a key indicator of reduced risk for debt investors.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 61, "componentCount": 4, "textChars": 1003, "nDataPoints": 14, "notes": "The slide highlights the increase in excess collateral as a key indicator of reduced risk for debt investors.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:55.123+00", "seconds": 2.855, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/12", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-12", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.5, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "list", "text": "MAIN's conservative use of leverage and equity to fund its growth results in significant excess collateral that provides protection to lenders. MAIN's management of its capital structure results in reduced risk profile for debt investors over time. Excess collateral available to unsecured lenders has increased by 226% since MAIN's first investment grade (IG) debt issuance", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.123+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fa720f07-08e0-487d-b56d-edcf02466249", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) Most recent information publicly reported prior to first IG debt issuance (2) Represents asset value in excess of SBIC debt (par value); SBIC assets contain negative pledge in relation to SBIC debt; therefore, equity at SBIC entities is effectively collateral for lenders (3) First IG notes issued in November 2014 (4) Includes additional IG debt issuances in April 2019, December 2019, July 2020, January 2021, October 2021, December 2022 and February 2023", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.123+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2d16b6db-4089-4856-a30f-c358f2cd9d78", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.6, "x": 0.3, "y": 0.2 }, "kind": "table", "text": "Table comparing Total Assets, SBIC Assets, Secured Debt, and Unsecured Debt between 9/30/2014 and 6/30/2023.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.123+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "53d57317-0d93-44eb-8af7-4d59da00bf56", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Conservative Leverage - Excess Collateral Improves Over Time", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.123+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "101fc0e8-2c1c-4b5c-8bb3-d064e5aa8260", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "13ff4b5e-48c2-47d9-b6e1-157324cea600", "evidence": "Table comparing Total Assets, SBIC Assets, Secured Debt, and Unsecured Debt between 9/30/2014 and 6/30/2023.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.509968+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 12, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 13, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 74, "componentCount": 6, "textChars": 652, "nDataPoints": 4, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:54.953+00", "seconds": 2.639, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/13", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-13", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.9, "x": 0.06, "y": 0.175 }, "kind": "list", "text": "Experienced Management Team with Strong Track Record: 100+ years experience, 20+ years working together, significant equity ownership.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.953+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1165270c-1fe9-4e97-a3ce-bda1575d70bb", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.06, "y": 0.635 }, "kind": "list", "text": "Unique Investment Strategy: Differentiates from competitors, attractive risk-adjusted returns, advisory business enhances returns.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.953+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "28f63670-9cc7-491b-aa7a-985c6c47942d", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.06, "y": 0.485 }, "kind": "list", "text": "Conservative Leverage: 1.5x regulatory requirement, ~2.3x regulatory ratio, ~2.2x consolidated ratio, ATM equity program.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.953+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b741cee0-ce31-4259-97e8-6c1fa3653cb0", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.06, "y": 0.325 }, "kind": "list", "text": "Efficient and Leverageable Internally Managed Operating Structure: Cost advantage, alignment of interests, industry leading expense efficiency.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.953+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dcb81559-a234-4789-845e-c23e78b74644", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.06, "y": 0.775 }, "kind": "list", "text": "High Quality Portfolio: Significant diversification, first priority liens, permanent capital structure.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.953+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ed3bd50a-f35e-4a38-9e57-dcf4e465fced", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.35, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Key Credit Highlights", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:54.953+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e20660f3-870d-4ac4-b638-89219087a0b6", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 13, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 7, "name": "Solution", "beatId": "387e5ff2-d5eb-427c-957c-75d546605c35", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Solution", "slug": "sequoia-pitch-solution", "status": "active", "canonId": "019dd9b8-1fb1-71d9-a260-07738d7f9c2f", "version": 1, "description": null }, "evidence": "The document highlights MAIN's key credit highlights and operating structure", "position": 1, "isPrimaryArc": true, "parentBeatType": { "name": "Turn", "slug": "turn", "status": "active", "canonId": "019dd9b8-0396-702b-ac2f-9901f8dd8b54", "version": 1, "description": "The pivot — solution proposed, catalyst introduced, decision made. Common (15/20 arcs) but not universal: Triple-take, AIDA, PAS, Voyage-return and Pixar substitute it with a strong reflection or development beat." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 14, "type": "setup", "function": "other", "rawType": "team_bio", "block": null, "metadata": { "slideType": "team_bio", "slideTypeCanon": { "name": "Team bio", "slug": "team_bio", "status": "active", "canonId": "019de52d-0a7d-7394-ae5b-037478e71f1e", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "dense", "densityScore": 67, "componentCount": 6, "textChars": 577, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:55.119+00", "seconds": 2.746, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/14", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-14", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.35 }, "kind": "list", "text": "David Magdol, President and CIO: Co-founded MAIN, joined 2002; previously Lazard Freres and McMullen Group.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1dcdc82e-927a-4ddd-b426-15081ed59c97", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.5 }, "kind": "list", "text": "Jesse Morris, CFO, COO, EVP: Joined 2019; previously Quanta Services, Sysco, and Big 5 Accounting.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6d77ba21-e3f2-46a7-b9bb-c481362f0135", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.65 }, "kind": "list", "text": "Jason Beauvais, EVP, GC, CCO and Secretary: Joined 2008; previously Occidental Petroleum and Baker Botts LLP.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "735c1194-1f34-4c98-affa-63ca769d7c60", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.2 }, "kind": "list", "text": "Dwayne Hyzak, CEO: Co-founded MAIN, joined 2002; previously Quanta Services and Big 5 Accounting.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bc3512e1-dda6-48de-8aab-835161d1d0bd", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.7, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) Member of MAIN Executive Committee (2) Member of MAIN Investment Committee (3) Chief Investment Officer (4) Chief Compliance Officer", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "69a32d5b-80b0-46d0-8792-7696b1ab6303", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "MAIN Executive Management Team", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.119+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "78ec84e1-a712-41eb-89ee-e940f2d687b7", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 15, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 14, "name": "Team", "beatId": "1eb635da-256d-4611-991a-2881144b1936", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Team", "slug": "sequoia-pitch-team", "status": "active", "canonId": "019dd9b8-23c9-746f-aaf9-2f5d83892cf3", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's executive management team and significant management ownership", "position": 4, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 15, "type": "setup", "title": "The slide uses a simple table to quantify management's stake and provides detailed footnotes explaining the composition and valuation of these shares.", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 56, "componentCount": 4, "textChars": 731, "nDataPoints": 2, "notes": "The slide uses a simple table to quantify management's stake and provides detailed footnotes explaining the composition and valuation of these shares.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.332+00", "seconds": 5.726, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/15", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-15", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.3, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "paragraph", "text": "Significant equity ownership by MAIN's management team, coupled with internally managed structure, provides alignment of interest between MAIN's management and our shareholders", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "89ad723b-40e5-44c2-8796-b786f34fa25a", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) Includes members of MAIN's executive and senior management team and the members of MAIN's Board of Directors\n(2) Includes 1,265,989 shares, or approximately $35.0 million, purchased by management as part of, or subsequent to, the MAIN IPO, including 17,341 shares, or approximately $1.1 million, purchased, directly or through MAIN's dividend reinvestment plan, in the quarter ended June 30, 2023\n(3) Based upon closing market price of $40.03/share on June 30, 2023", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "db484964-109b-4594-a988-fe7e8e74c7d9", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "table", "text": "Management (1) | 3,515,461 | $140,723,904", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c41703cd-03dc-44eb-aff6-be04fe2b5c1e", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Significant Management Ownership / Investment", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.332+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "23e20c4e-aea0-450e-a84d-71de98c461dd", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "acb551fe-65e4-4d0e-87f4-ab65f425b510", "evidence": "table/data: Management (1) | 3,515,461 | $140,723,904", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.64343+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 15, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 15, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 14, "name": "Team", "beatId": "1eb635da-256d-4611-991a-2881144b1936", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Team", "slug": "sequoia-pitch-team", "status": "active", "canonId": "019dd9b8-23c9-746f-aaf9-2f5d83892cf3", "version": 1, "description": null }, "evidence": "The document presents an overview of MAIN's executive management team and significant management ownership", "position": 4, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 16, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 84, "componentCount": 7, "textChars": 1286, "nDataPoints": 4, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.021+00", "seconds": 3.346, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/16", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-16", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "callout", "text": "MAIN’s internally managed operating structure provides significant operating leverage and greater returns for our stakeholders", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3f3c9518-a693-4e99-adfd-b4cc44c3ecb1", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.6, "x": 0.35, "y": 0.28 }, "kind": "list", "text": "Alignment of interest between management and investors: Greater incentives to maximize increases to shareholder value and rationalize debt and equity capital raises; 100% of MAIN’s management efforts and activities are for the benefit of MAIN investors", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8da1b9f8-c79e-44cb-9cb5-59c470f353f6", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.6, "x": 0.35, "y": 0.65 }, "kind": "list", "text": "Significant portion of total operating expenses(1) are non-cash: Non-cash compensation expenses(3) were 27.9%(2) of total operating expenses(1); Operating Expense to Assets Ratio of 1.0%(2) excluding non-cash compensation expenses(3)", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9b2dfbcd-74d7-4ad5-a170-a84cb7809e56", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.6, "x": 0.35, "y": 0.45 }, "kind": "list", "text": "MAIN targets total operating expenses(1) as a percentage of average assets (Operating Expense to Assets Ratio) at or less than 2%: Long-term actual results have significantly outperformed target; An industry leading position in cost efficiency, with an Operating Expense to Assets Ratio of 1.4%(2)", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f12d4c88-b0ca-47eb-8886-0d8fcc79daa1", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "paragraph", "text": "“Internally managed” structure means no external management fees or expenses are paid", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "034b6422-9ce6-4799-882b-49ff32e99ee5", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) Total expenses excluding interest expense (2) Based upon the trailing twelve month period ended June 30, 2023 (3) See non-GAAP information disclosures on page 37 and calculation of non-cash compensation expenses on page 39 of this presentation", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a002af73-c1bf-4940-9a33-adedc3c46578", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Efficient and Leverageable Operating Structure", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.021+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cd29eb82-d31a-42fd-8342-703ee1d146b6", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 17, "type": "setup", "title": "The chart highlights MAIN's cost efficiency by showing both its standard operating expense ratio and its ratio excluding non-cash compensation expenses.", "function": "compare_peers", "rawType": "peer_benchmark", "block": null, "metadata": { "slideType": "peer_benchmark", "slideTypeCanon": { "name": "Peer benchmark", "slug": "peer_benchmark", "status": "active", "canonId": "019de52d-08f0-7158-a78d-d7b5331fefaf", "version": 1, "description": null }, "function": "compare_peers", "functionCanon": { "name": "Compare peers", "slug": "compare_peers", "status": "active", "canonId": "019de52d-1453-72ba-a367-9ba3d34c1630", "version": 1, "description": null }, "density": "balanced", "densityScore": 37, "componentCount": 4, "textChars": 233, "nDataPoints": 5, "notes": "The chart highlights MAIN's cost efficiency by showing both its standard operating expense ratio and its ratio excluding non-cash compensation expenses.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:55.763+00", "seconds": 2.915, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/17", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-17", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.5, "w": 0.8, "x": 0.1, "y": 0.15 }, "kind": "chart", "text": "Operating Expenses as a Percentage of Total Assets", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Vertical bar chart", "slug": "bar-vertical", "status": "active", "canonId": "019de52c-fe9d-70f2-b3b7-a9ae294f5917", "version": 1, "description": null }, "framework": null }, "subkind": "bar-vertical", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.763+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e09a74d5-1d1c-450f-b6a6-a997bf31b36b", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.7 }, "kind": "source-note", "text": "(1) Total expenses excluding interest expense... (8) Source: SNL Financial...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.763+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bf0c68fe-70b3-477b-a833-dfbd9448cb53", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.4, "x": 0.3, "y": 0.18 }, "kind": "subtitle", "text": "Operating Expenses(1) as a Percentage of Total Assets", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.763+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0709aa4d-c43a-4cdd-abc5-be529588389c", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "MAIN Maintains a Significant Operating Cost Advantage", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.763+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7e40dfef-d176-4438-819a-4614fbc75bba", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 18, "type": "analysis", "title": "The slide details the composition of debt, including both floating and fixed-rate instruments, and provides context on maturity and redemption options.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 55, "componentCount": 4, "textChars": 538, "nDataPoints": 24, "notes": "The slide details the composition of debt, including both floating and fixed-rate instruments, and provides context on maturity and redemption options.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:55.444+00", "seconds": 2.569, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/18", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-18", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.75 }, "kind": "disclaimer", "text": "Footnotes (1) through (5) detailing facility terms, accordion features, and interest rate calculations.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.444+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cb4333fb-fa01-44aa-8a75-6c719eb5641d", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "paragraph", "text": "MAIN maintains a conservative capital structure, with limited overall leverage and an intentional mix of secured, floating rate revolving debt and unsecured, fixed rate long-term debt. Capital structure is designed to correlate to and complement the expected duration and fixed/floating rate nature of investment portfolio assets", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.444+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9e34868e-6425-404d-a7bb-cee985184d6a", "parentComponentId": null }, { "bbox": { "h": 0.5, "w": 0.65, "x": 0.3, "y": 0.2 }, "kind": "table", "text": "Facility, Interest Rate, Maturity, Principal table", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.444+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "82608f97-bbbe-4fd3-9857-1153a01f7a79", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.8, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Stable, Long-Term Leverage – Significant Unused Capacity", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:55.444+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fea27700-fbd9-4159-82b3-1049002ca4e8", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "95c79169-1e73-46b6-bcf7-e23c670dabf6", "evidence": "table/data: Facility, Interest Rate, Maturity, Principal table", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.772342+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 18, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 19, "type": "analysis", "title": "The chart uses stacked bars to represent different types of debt (SBIC debentures, Credit Facility, and various Notes) maturing between 2023 and 2033.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 71, "componentCount": 5, "textChars": 1036, "nDataPoints": 10, "notes": "The chart uses stacked bars to represent different types of debt (SBIC debentures, Credit Facility, and various Notes) maturing between 2023 and 2033.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.331+00", "seconds": 3.33, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/19", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-19", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.6, "x": 0.35, "y": 0.18 }, "kind": "chart", "text": "Maturity schedule of debt obligations from 2023 to 2033", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Stacked bar chart", "slug": "bar-stacked", "status": "active", "canonId": "019de52c-feec-74bf-9028-15b74f84f0a7", "version": 1, "description": null }, "framework": null }, "subkind": "bar-stacked", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.331+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6bb4e246-89aa-47c3-b13c-24be942d53fe", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.25, "x": 0.05, "y": 0.35 }, "kind": "list", "text": "Allows for investments in assets with long-term holding periods / illiquid positions and greater yields and overall returns\nProvides downside protection and liquidity through economic cycles\nAllows MAIN to be opportunistic during periods of economic uncertainty", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.331+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "06958da4-67d1-4851-954f-1a0c482b64f8", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.25, "x": 0.05, "y": 0.18 }, "kind": "paragraph", "text": "MAIN's conservative capital structure provides long-term access to attractively-priced and structured debt facilities", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.331+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ceca03c6-4b82-4d6e-9d7f-893854f722cb", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) The defined term and additional details for the Credit Facilities is included on page 18\n(2) Issued in April 2019; with follow-on issuances in December 2019 and July 2020; redeemable at MAIN's option at any time, subject to certain make-whole provisions\n(3) Issued in December 2022; with a follow-on issuance in February 2023; redeemable at MAIN's option at any time, subject to certain make-whole provisions\n(4) Issued in January 2021; with a follow-on issuance in October 2021; redeemable at MAIN's option at any time, subject to certain make-whole provisions", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.331+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eae948f8-eece-4aa8-9ccd-7c2cf827535e", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Long-term Maturity of Debt Obligations", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.331+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d605c265-a38a-4888-9e00-52d6134deeb0", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 20, "type": "analysis", "title": "Includes detailed footnotes explaining the assumptions behind the sensitivity analysis.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 71, "componentCount": 5, "textChars": 800, "nDataPoints": 32, "notes": "Includes detailed footnotes explaining the assumptions behind the sensitivity analysis.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.181+00", "seconds": 3.048, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/20", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-20", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.55, "x": 0.41, "y": 0.55 }, "kind": "disclaimer", "text": "Footnotes (1) through (6) detailing assumptions regarding LIBOR, SOFR, Prime rates, and calculation methodology.", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.181+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "62d31891-bd71-4959-aaea-e65bfa354163", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.38, "x": 0.05, "y": 0.45 }, "kind": "list", "text": "71% of MAIN’s outstanding debt obligations have fixed interest rates, limiting the increase in interest expense. 70% of MAIN’s debt investments bear interest at floating rates, with floors. Provides opportunity to achieve increases in net investment income.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.181+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a98b095c-56cd-49c3-b73e-d593226de91a", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.38, "x": 0.05, "y": 0.17 }, "kind": "paragraph", "text": "MAIN’s financial results are subject to impact from changes in interest rates; MAIN’s capital structure includes a majority of fixed rate debt obligations, while MAIN’s investment portfolio includes a majority of floating rate debt investments with minimum interest rate floors", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.181+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7a2170ae-335b-400a-b789-76a1eedb9daa", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.55, "x": 0.41, "y": 0.235 }, "kind": "table", "text": "Sensitivity table showing basis point changes from -100 to 100 and corresponding impacts on income and per share data.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.181+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "864a8d75-a5b3-4ebd-b279-45b11d78bd49", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Interest Rate Impact and Sensitivity", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.181+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b5df198d-2869-482e-addb-ce7760a11504", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "9a821159-d395-496e-a06a-2769a71dcc7e", "evidence": "table/data: Sensitivity table showing basis point changes from -100 to 100 and corresponding impacts on income and per share data.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:46.870934+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 20, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [ { "to": 20, "from": 20, "loop": { "name": "27_cost_of_inaction", "slug": "27-cost-of-inaction", "status": "active", "bestFor": "Urgent budget requests, compliance, risk mitigation", "canonId": "019dd956-70d1-7395-a15b-857ba858b394", "version": 1, "bodyDocId": "019df22a-2420-77be-bc41-ded96d08cb21", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "description": "Quantify what happens if the audience does nothing", "familyLabel": null }, "matchId": "f47e6837-bcee-4a06-97a9-f004e49901b1", "evidence": "The document presents a table on interest rate impact and sensitivity", "position": 0, "objective": "Highlighting the impact of interest rate changes on MAIN's portfolio", "confidence": 0.6, "extraction": { "at": "2026-07-16 22:37:00.323273+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": "doc-narrative-v1" } } ], "locked": true }, { "page": 21, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 68, "componentCount": 5, "textChars": 929, "nDataPoints": 3, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.27+00", "seconds": 3.113, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/21", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-21", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.9 }, "kind": "disclaimer", "text": "(1) Through June 30, 2023 (2) Assumes 6% all-in cost for traditional overnight equity offering", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.27+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7575ed14-262a-44cc-bd59-446460d0247e", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.6, "x": 0.35, "y": 0.6 }, "kind": "list", "text": "Raised net proceeds of $912.8 million since inception in 2015; Average sale price is approximately 61% above average NAV per share over same period; Resulted in economic cost savings of approximately $46.1 million when compared to traditional overnight equity offering", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.27+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "5f68e2c9-31c9-41b6-8ea4-50456e5a8183", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.3, "x": 0.05, "y": 0.2 }, "kind": "list", "text": "ATM Equity Program provides efficient and low cost access to equity capital; Provides access to equity capital to match growth of LMM investments on an as-needed basis; Provides significant economic cost savings compared to traditional overnight equity offerings", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.27+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b598e29b-4563-44ee-9a4b-3292c4cf8986", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "Provides permanent capital to match indefinite or long-term holding period for LMM investments; Facilitates maintenance of conservative leverage position; Issued equity is accretive to NAV per share; Provides significant benefits vs traditional overnight equity offerings", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.27+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b7becced-8793-4355-b52a-70fc76890b14", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "At-The-Market (ATM) Equity Program", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.27+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e80cecf8-cfcd-4a34-b752-df7dfaddef37", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "5e3f154e-3033-468d-8d63-f4e6f6110e22", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:40.850091+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 21, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 22, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 72, "componentCount": 6, "textChars": 644, "nDataPoints": 1, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.524+00", "seconds": 3.205, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/22", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-22", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.28, "x": 0.06, "y": 0.2 }, "kind": "callout", "text": "LMM investment strategy differentiates MAIN from its competitors and provides attractive risk-adjusted returns", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.524+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "0a809e5e-6f9f-436b-8838-6fea445a988f", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "Investment Objectives: High cash yield (12.7% coupon), dividend income, capital appreciation.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.524+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "7cf02eaa-5966-40dc-8d30-b0552d068eba", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.6, "x": 0.35, "y": 0.48 }, "kind": "list", "text": "Focus on self-sponsored, “one stop” financing opportunities: Partner with owners, customized solutions, recapitalization/buyout/growth capital, referral sources, brand recognition.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.524+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9f606b42-9fa3-496f-8373-a28adffe9ec4", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.6, "x": 0.35, "y": 0.75 }, "kind": "paragraph", "text": "Investments have low correlation to the broader debt and equity markets and attractive risk-adjusted returns", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.524+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "76767de4-e5d4-4238-83b7-d75488a5f59a", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.6, "x": 0.35, "y": 0.38 }, "kind": "paragraph", "text": "Investments are structured for (i) protection of capital, (ii) high recurring income and (iii) meaningful capital gain opportunity", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.524+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "cbeb078a-ed38-42c6-9c33-387b8ecf9c02", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.35, "x": 0.06, "y": 0.1 }, "kind": "title", "text": "LMM Investment Strategy", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.524+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "653ab208-61f1-4167-b69e-5a9630df80f9", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "be0beca7-ac96-4822-b0f5-c10aa5ebb7d8", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:40.916523+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 22, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 23, "type": "resolution", "title": "LMM stands for Lower Middle Market.", "function": "size_opportunity", "rawType": "market_sizing", "block": null, "metadata": { "slideType": "market_sizing", "slideTypeCanon": { "name": "Market sizing", "slug": "market_sizing", "status": "active", "canonId": "019de52d-08c8-756c-8664-733b73a7ee7b", "version": 1, "description": null }, "function": "size_opportunity", "functionCanon": { "name": "Size opportunity", "slug": "size_opportunity", "status": "active", "canonId": "019de52d-147b-7568-8828-a74a27697618", "version": 1, "description": null }, "density": "dense", "densityScore": 58, "componentCount": 4, "textChars": 847, "nDataPoints": 4, "notes": "LMM stands for Lower Middle Market.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.185+00", "seconds": 2.761, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/23", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-23", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.5, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "Large and critical portion of U.S. economy\n195,000+ domestic LMM businesses\nLMM is under-served from a capital perspective and less competitive\nInefficient asset class generates pricing inefficiencies\nTypical entry enterprise values between 4.5X – 6.5X EBITDA\nTypical entry leverage multiples between 2.0X – 4.0X EBITDA to MAIN debt investment\nPartner relationship with the management teams of our portfolio companies vs a “commoditized vendor of capital”", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.185+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d13784ce-7bb1-4128-98dd-57162319390e", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "paragraph", "text": "MAIN targets LMM investments in established, profitable companies. Characteristics of LMM provide beneficial risk-reward investment opportunities.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.185+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2c915f3b-1440-4663-a8df-382ff3d0d6a0", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "source-note", "text": "(1) Source: U.S. Census 2017 – U.S. Data Table by Enterprise Receipt Size; 2017 County Business Patterns and 2017 Economic Census; includes Number of Firms with Enterprise Receipt Size between $10,000,000 and $99,999,999", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.185+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "88a32e35-e5a6-479a-8f31-fd9071588ee1", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "LMM Investment Opportunity", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.185+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bed5ae37-3967-4d13-b8d7-c002403ae567", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 24, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 23, "name": "Market Size", "beatId": "87c7f0df-1461-4b95-afa1-ebe84607a97c", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Market Size", "slug": "sequoia-pitch-market-size", "status": "active", "canonId": "019dd9b8-20e6-729c-bc28-05442906d032", "version": 1, "description": null }, "evidence": "The document presents an overview of the LMM investment opportunity", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 24, "type": "setup", "function": "establish_context", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "establish_context", "functionCanon": { "name": "Establish context", "slug": "establish_context", "status": "active", "canonId": "019de52d-1314-74e6-9074-d213dc0bdcdf", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 85, "componentCount": 7, "textChars": 1947, "nDataPoints": 2, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.748+00", "seconds": 3.198, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/24", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-24", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.5, "x": 0.45, "y": 0.2 }, "kind": "list", "text": "Investment Objectives: Access proprietary investments with attractive risk-adjusted return characteristics; Generate cash yield to support MAIN monthly dividend", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "477116ce-442e-47bd-96e4-b64e6e33aecc", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.5, "x": 0.45, "y": 0.6 }, "kind": "list", "text": "Investments in secured debt investments: First lien, senior secured debt investments; Floating rate debt investments", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ae47ff09-8828-4888-8f94-3c7eb32479a8", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.5, "x": 0.45, "y": 0.35 }, "kind": "list", "text": "Investment Characteristics: Investments in companies that are consistent with the size of companies in our LMM and Middle Market; Proprietary investments originated directly by MAIN or through strategic relationships with other investment funds on a collaborative basis; Current Private Loan portfolio companies have weighted-average EBITDA of approximately $30.5 million", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "bf0a838c-ce9d-482e-b7e5-56cfb51deba0", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.5, "x": 0.45, "y": 0.7 }, "kind": "list", "text": "8% – 12% targeted gross yields: Weighted-average effective yield of 12.6%; Net returns positively impacted by lower overhead requirements and modest use of leverage; Floating rate debt investments provide matching with MAIN’s floating rate Credit Facilities", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d603e616-4d02-4235-b660-d42912f68db7", "parentComponentId": null }, { "bbox": { "h": 0.4, "w": 0.35, "x": 0.05, "y": 0.2 }, "kind": "paragraph", "text": "Private Loan portfolio investments are primarily debt investments in privately held companies which have primarily been originated directly by MAIN or to a lesser extent through strategic relationships with other credit funds on a collaborative basis (often referred to in the debt markets as “club deals” because of the small lender group size). MAIN’s Private Loan investments are typically made to a company owned by or being acquired by a private equity sponsor", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "51e5d48a-4810-4ddf-8844-1b908b3c3ac4", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "source-note", "text": "(1) This calculation excludes two Private Loan portfolio companies as EBITDA is not a meaningful metric for these portfolio companies (2) Weighted-average effective yield is calculated using the applicable interest rate as of June 30, 2023 and includes amortization of deferred debt origination fees and accretion of original issue discount, but excludes fees payable upon repayment of the debt instruments and any debt investments on non-accrual status (3) The defined term and additional details for the Credit Facilities is included on page 18", "attrs": { "numbered": true }, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "706d8e60-ac7d-431f-aeb5-8ff071a45905", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Private Loan Investment Strategy", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.748+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "106e841e-17b3-4702-8381-4ffb9028adfc", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "548deeda-5d72-443a-8cee-1f14a6d3348a", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:41.010596+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 24, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 24, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 23, "name": "Market Size", "beatId": "87c7f0df-1461-4b95-afa1-ebe84607a97c", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Market Size", "slug": "sequoia-pitch-market-size", "status": "active", "canonId": "019dd9b8-20e6-729c-bc28-05442906d032", "version": 1, "description": null }, "evidence": "The document presents an overview of the LMM investment opportunity", "position": 2, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 25, "type": "setup", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 83, "componentCount": 7, "textChars": 912, "nDataPoints": 4, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:35:00.543+00", "seconds": 6.62, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/25", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-25", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.25, "x": 0.06, "y": 0.18 }, "kind": "callout", "text": "MAIN maintains a portfolio of debt investments in Middle Market companies", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f9cc0a15-ee2f-40dd-bf9c-7d0b37f93153", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.06, "y": 0.84 }, "kind": "disclaimer", "text": "(1) Source: U.S. Census 2017... (2) Weighted-average effective yield... (3) The defined term and additional details...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fdd47225-b3f2-48e7-986b-789423338df8", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.6, "x": 0.34, "y": 0.18 }, "kind": "list", "text": "Investment Objective: Generate cash yield to support MAIN monthly dividend. Investments in secured and/or rated debt investments: First lien, senior secured debt investments, Floating rate debt investments.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "14c8e252-33c4-412b-a914-eef52e140224", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.6, "x": 0.34, "y": 0.56 }, "kind": "list", "text": "More relative liquidity than LMM and Private Loan investments. 6% – 10% targeted gross yields: Weighted-average effective yield of 11.8%, Net returns positively impacted by lower overhead, Floating rate debt investments provide matching.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c2d98ee3-4227-4403-acb5-36f45e9abacf", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.34, "y": 0.48 }, "kind": "list", "text": "Large and critical portion of U.S. economy: 220,000+ domestic Middle Market businesses.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d7571dae-1c75-4667-bbaf-7a7332c508fe", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.6, "x": 0.34, "y": 0.38 }, "kind": "list", "text": "Larger companies than the LMM investment strategy: Current Middle Market portfolio companies have weighted-average EBITDA of approximately $67.6 million.", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "fad9a580-0017-4515-b137-8d2b5bcc7dfa", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "Middle Market Debt Investment Strategy", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:00.543+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8aba8648-649a-4808-8e0f-0314b54ce43f", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "dd1c52b7-7d1f-406f-b044-cca299317132", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:41.073799+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 25, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 26, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 25, "name": "Product", "beatId": "fd42084a-99f6-4a0a-828d-452afc5f7bc1", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Product", "slug": "sequoia-pitch-product", "status": "active", "canonId": "019dd9b8-2259-77df-a937-8b665c8066fe", "version": 1, "description": null }, "evidence": "The document describes MAIN's private loan investment strategy and middle market debt investment strategy", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 26, "type": "setup", "title": "The slide highlights the strategic value of the asset management arm, specifically focusing on fee income and financial contributions.", "function": "summarize", "rawType": "key_messages", "block": null, "metadata": { "slideType": "key_messages", "slideTypeCanon": { "name": "Key messages", "slug": "key_messages", "status": "active", "canonId": "019de52d-0712-703f-89f5-bda6688faf3f", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 71, "componentCount": 5, "textChars": 1833, "nDataPoints": 4, "notes": "The slide highlights the strategic value of the asset management arm, specifically focusing on fee income and financial contributions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:35:01.491+00", "seconds": 7.56, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/26", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-26", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.35, "w": 0.6, "x": 0.35, "y": 0.5 }, "kind": "list", "text": "Benefits to MAIN: Highly predictable source of recurring base management fee income, with opportunity for upside through incentive fees; No significant increases to MAIN's operating costs; Monetizing the value of MAIN franchise; Significant positive impact on MAIN's financial results: $8.5 million contribution to net investment income in the second quarter of 2023; $16.6 million contribution to net investment income in the six months ended June 30, 2023; $22.3 million contribution to net investment income in the year ended December 31, 2022; $104.5 million of cumulative unrealized appreciation as of June 30, 2023", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:01.491+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a353d22c-6dba-4f8f-8fa6-7c91bc298256", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.28, "x": 0.05, "y": 0.18 }, "kind": "list", "text": "MAIN's asset management business represents additional income diversification and the opportunity for greater stakeholder returns. MAIN's internally managed operating structure provides MAIN's stakeholders the benefits of this asset management business. Growth of asset management business is increasingly driven by MAIN's Private Loan investment strategy", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:01.491+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e1331a6a-fcb9-4503-abb1-ae2d8605ab02", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.6, "x": 0.35, "y": 0.18 }, "kind": "paragraph", "text": "MAIN(1) is the investment adviser to several third party clients in its Asset Management Business. MAIN(1) is the investment adviser to and administrator of MSC Income Fund, Inc. (MSIF), a non-listed BDC. MAIN(1) provides asset management services, including sourcing, diligence and post-investment monitoring. MAIN(1) receives management fees and incentive fees: Base management fee of 1.75% of total assets; Incentive fees – 20% of net investment income above a hurdle rate and 20% of net realized capital gains.", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:01.491+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "da05c066-1cf3-4b47-a64d-551912785b1f", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.88 }, "kind": "source-note", "text": "(1) Through MSC Adviser I, LLC (the External Investment Manager), MAIN's wholly-owned unconsolidated subsidiary. (2) Contribution to Net Investment Income includes (a) dividend income received by MAIN from the External Investment Manager and (b) operating expenses allocated from MAIN to the External Investment Manager", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:01.491+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "114b1f64-f03b-4c21-b61b-71fda16005fb", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Asset Management Business", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:35:01.491+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "874f66cb-b354-4825-b3de-cf66baee053c", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "fe79ab22-e810-4211-b482-0a69e8fa0d6b", "evidence": "The slide contains a list/bullet component with several items.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:41.137961+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 26, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [ { "to": 26, "arc": { "name": "The Sequoia Pitch", "slug": "sequoia-pitch", "status": "active", "bestFor": "Investor pitches, Series A/B, board presentations", "canonId": "019dd956-5e69-75a7-a0a4-895ac1bc0444", "version": 1, "bodyDocId": "019df22a-2356-73eb-8061-d8c81dc0aa49", "structure": "Problem -> Solution -> Why Now -> Market Size -> Competition -> Product -> Business Model -> Team -> Financials -> The Ask", "description": null, "familyLabel": null }, "from": 25, "name": "Product", "beatId": "fd42084a-99f6-4a0a-828d-452afc5f7bc1", "matchId": "f3df3705-7437-4c89-8530-0382cb30e883", "beatType": { "name": "Product", "slug": "sequoia-pitch-product", "status": "active", "canonId": "019dd9b8-2259-77df-a937-8b665c8066fe", "version": 1, "description": null }, "evidence": "The document describes MAIN's private loan investment strategy and middle market debt investment strategy", "position": 3, "isPrimaryArc": true, "parentBeatType": { "name": "Evidence", "slug": "evidence", "status": "active", "canonId": "019dd9b8-03f9-772a-b84a-4f07b415b77a", "version": 1, "description": "A dedicated proof beat exists in only ~4 arcs (Gambit, Sequoia, AIDA, Monroes). Other arcs embed evidence inline within development." }, "alignedBlockIds": null, "matchConfidence": 0.8 } ], "loops": [], "locked": true }, { "page": 27, "type": "setup", "title": "Includes footnotes detailing calculation methodologies for yield and portfolio metrics.", "function": "summarize", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 79, "componentCount": 6, "textChars": 965, "nDataPoints": 11, "notes": "Includes footnotes detailing calculation methodologies for yield and portfolio metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:56.985+00", "seconds": 2.821, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/27", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-27", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "callout", "text": "Diversity provides structural protection to investment portfolio, revenue sources, income, cash flows and stakeholder dividends", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "19df2631-9642-4564-a360-2b6ca093b653", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.5, "x": 0.35, "y": 0.68 }, "kind": "list", "text": "Significant diversification: Issuer, Industry, Transaction type, Geography, End markets, Vintage", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4bd10a07-69c5-4922-9712-4e07f45f0cd0", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.6, "x": 0.35, "y": 0.4 }, "kind": "list", "text": "195 LMM, Private Loan and Middle Market portfolio companies; Average investment size of $18.4 million; Largest individual portfolio company represents 4.0% of total investment income; Nine non-accrual investments; Weighted-average effective yield of 12.7%", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "eb7f3062-2a48-4054-997e-2fa98a9e41f2", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "paragraph", "text": "Includes complementary LMM debt and equity investments, Private Loan debt investments and Middle Market debt investments. Total investment portfolio at fair value consists of approximately 52% LMM / 35% Private Loan / 7% Middle Market / 6% Other Portfolio(1) investments", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "82ae99f7-7d83-4dbd-81e8-49265f0f72ae", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.82 }, "kind": "source-note", "text": "(1) Other Portfolio also includes the External Investment Manager... (2) As of June 30, 2023... (3) Based upon total investment income... (4) Weighted-average effective yield is calculated...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a1e86919-b40e-45dc-8f27-74a5b840a7c1", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Total Investment Portfolio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:56.985+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f2c48d94-f0c5-4d0b-af53-9fe07422d789", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 28, "type": "analysis", "title": "The table tracks growth in Lower Middle Market and Private Loans while showing a decline in Middle Market exposure.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 49, "componentCount": 4, "textChars": 385, "nDataPoints": 40, "notes": "The table tracks growth in Lower Middle Market and Private Loans while showing a decline in Middle Market exposure.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:57.241+00", "seconds": 2.923, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/28", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-28", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "disclaimer", "text": "(1) Excludes MAIN's short-term portfolio investment of $2.0 million at cost and $1.9 million at fair value as of December 31, 2022 and $2.0 million at cost and fair value as of December 31, 2021; MAIN held no short-term portfolio investments", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "92d59577-43aa-47e6-b151-1b092c2c7850", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "Main Street Capital Corporation logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "99e7f025-c717-42f9-83c0-ebdbb42c8d6a", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.66, "x": 0.17, "y": 0.205 }, "kind": "table", "text": "Portfolio company counts and cost basis by segment over time", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "59513ed3-c52b-452a-bbbc-d535982be83b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Portfolio Snapshot – Significant Diversification", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.241+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9879cb8c-dd13-4f51-9b2a-dee49955be74", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 29, "type": "analysis", "title": "The slide presents two distinct financial tables: one for Fair Value and one for Cost Basis of debt investments.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 43, "componentCount": 3, "textChars": 431, "nDataPoints": 80, "notes": "The slide presents two distinct financial tables: one for Fair Value and one for Cost Basis of debt investments.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:57.521+00", "seconds": 2.93, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/29", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-29", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "disclaimer", "text": "(1) Excludes MAIN's short-term portfolio investment of $2.0 million at cost and $1.9 million at fair value as of December 31, 2022 and $2.0 million at cost and fair value as of December 31, 2021; MAIN held no short-term portfolio investments for the period ended June 30, 2023 and December 31, 2020", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.521+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c79f3ca4-ca0a-4e87-b753-d82fe0dafb14", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.68, "x": 0.16, "y": 0.195 }, "kind": "table", "text": "Table showing investment fair value and debt cost basis by segment over time.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.521+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dc286da6-4f78-44d4-a409-f02f8c2de931", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Portfolio Snapshot – Significant Diversification (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.521+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "12a2a204-4187-451c-9672-58adc1c26f4b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 30, "type": "analysis", "title": "The table tracks the shift toward first-lien debt across Lower Middle Market, Private Loans, and Middle Market segments.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 3, "textChars": 416, "nDataPoints": 48, "notes": "The table tracks the shift toward first-lien debt across Lower Middle Market, Private Loans, and Middle Market segments.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:57.236+00", "seconds": 2.57, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/30", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-30", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "disclaimer", "text": "(1) Excludes MAIN's short-term portfolio investment of $2.0 million at cost and $1.9 million at fair value as of December 31, 2022 and $2.0 million at cost and fair value as of December 31, 2021; MAIN held no short-term portfolio investments for the period ended June 30, 2023 and December 31, 2020", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b8b3e4f1-bf55-4b5f-a4a5-cc6f3db3986c", "parentComponentId": null }, { "bbox": { "h": 0.5, "w": 0.7, "x": 0.15, "y": 0.275 }, "kind": "table", "text": "Table showing first-lien debt investments by segment and year.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b719f8a2-a7c5-4e41-b6e1-b37c00f69b8b", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Portfolio Snapshot – Significant Diversification (cont.)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.236+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1eb235af-448f-432d-b0ef-53f9f4e6384b", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 31, "type": "analysis", "title": "The chart is highly fragmented with many small slices, making it difficult to read.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 47, "componentCount": 4, "textChars": 348, "nDataPoints": 35, "notes": "The chart is highly fragmented with many small slices, making it difficult to read.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:57.337+00", "seconds": 2.588, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/31", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-31", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.4, "w": 0.76, "x": 0.12, "y": 0.18 }, "kind": "chart", "text": "Pie chart of portfolio distribution", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Pie chart", "slug": "pie", "status": "active", "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373", "version": 1, "description": null }, "framework": null }, "subkind": "pie", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.337+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "b82a194e-5e93-48e4-8a37-a9944c1fc2c3", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "disclaimer", "text": "(1) Excluding MAIN's Other Portfolio investments, the External Investment Manager and short-term portfolio investments, which in aggregate represent approximately 4% of the total portfolio", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.337+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a61ac47c-852c-4649-8071-3f200a1a3312", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.7, "x": 0.15, "y": 0.58 }, "kind": "list", "text": "List of industries and their percentage contribution to the portfolio", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.337+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a90beffd-2466-4acb-bd29-0dd475a2ad0c", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.7, "x": 0.05, "y": 0.08 }, "kind": "title", "text": "Total Portfolio by Industry (as a Percentage of Cost)(1)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.337+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "36b44afa-8682-4d4e-a3f0-f2f1d2a9fcbb", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 32, "type": "analysis", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 53, "componentCount": 4, "textChars": 541, "nDataPoints": 8, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:57.625+00", "seconds": 2.814, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/32", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-32", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.44, "x": 0.06, "y": 0.2 }, "kind": "chart", "text": "Invested Capital by Transaction Type", "attrs": null, "canon": { "kind": { "name": "Chart", "slug": "chart", "status": "active", "canonId": "019de52c-f9a0-76ef-adc6-0b859109d1f8", "version": 1, "description": "Quantitative chart." }, "tool": null, "subkind": { "name": "Pie chart", "slug": "pie", "status": "active", "canonId": "019de52c-ffdb-71bb-a800-5c5ab9f1c373", "version": 1, "description": null }, "framework": null }, "subkind": "pie", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.625+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "27a79917-1747-4fd8-b14c-50e04ded6979", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.89, "x": 0.06, "y": 0.86 }, "kind": "disclaimer", "text": "(1) Excluding MAIN's Other Portfolio investments, the External Investment Manager and short-term portfolio investments, each as described in MAIN's filings with the SEC, which in aggregate represent approximately 4% of the total portfolio\n(2) Based upon portfolio company headquarters and excluding any MAIN investments headquartered outside the U.S., which in aggregate represent approximately 2% of the total portfolio", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.625+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "35251d51-cc31-4a32-8b25-26b7e485f89d", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.44, "x": 0.51, "y": 0.2 }, "kind": "image", "text": "Invested Capital by Geography", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Map", "slug": "map", "status": "active", "canonId": "019de52c-fe4d-77bd-b0a4-d72d58b9e5a4", "version": 1, "description": null }, "framework": null }, "subkind": "map", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.625+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "de5b2788-68f1-4fa0-bcd4-f7a22221c4d7", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.55, "x": 0.06, "y": 0.09 }, "kind": "title", "text": "Diversified Total Portfolio (as a Percentage of Cost)(1)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:57.625+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "91280e84-645a-4c2d-9e6b-ee4698f8bf2c", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 33, "type": "analysis", "title": "Includes detailed footnotes regarding yield calculation and dividend-paying companies.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 78, "componentCount": 6, "textChars": 805, "nDataPoints": 11, "notes": "Includes detailed footnotes regarding yield calculation and dividend-paying companies.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.009+00", "seconds": 2.837, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/33", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-33", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.28, "x": 0.06, "y": 0.2 }, "kind": "callout", "text": "LMM investment portfolio consists of a diversified mix of secured debt and lower cost basis equity investments", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.009+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c8ab2ce1-7492-4f7f-b64b-bb0ff7534fdc", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.9, "x": 0.05, "y": 0.86 }, "kind": "disclaimer", "text": "(1) Weighted-average effective yield... (2) Includes the LMM companies that...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.009+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2efa0c29-0864-4f47-9218-fc36d49ecb44", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.6, "x": 0.35, "y": 0.45 }, "kind": "list", "text": "Equity ownership in all LMM portfolio companies representing 40% average ownership position (28% of LMM portfolio at cost); Lower entry multiple valuations; Opportunity for dividend income; 59% of LMM companies(2) paying dividends; $449.3 million cumulative pre-tax net unrealized appreciation", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.009+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6bab913e-8465-4506-aed3-b0ac506462dc", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.6, "x": 0.35, "y": 0.28 }, "kind": "list", "text": "Debt yielding 12.9%(1) (72% of LMM portfolio at cost); 99% of debt investments have first lien position; 70% of debt investments earn fixed-rate interest; Over 850 basis point net cash interest margin", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.009+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a576f502-4dfe-4e03-ada8-e6b886d0b4bd", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.55, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "79 portfolio companies / $2.2 billion in fair value; 52% of total investment portfolio at fair value", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.009+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d614d559-c4ae-45b2-ab24-848b8fad3afa", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.35, "x": 0.06, "y": 0.1 }, "kind": "title", "text": "LMM Investment Portfolio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.009+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "136e1c48-da84-4c82-ac14-6e31dcc246c6", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Audience Definition", "slug": "audience-definition", "status": "active", "bestFor": null, "canonId": "019dd956-7f2a-775d-aeee-ff099bcb7756", "version": 1, "bodyDocId": null, "description": "Six key questions: Who are they? What do they know? What do they believe? What do they care about? What do they fear? What decisions can they make?", "familyLabel": null, "categoryName": "Block", "categorySlug": "block" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "d5f634c4-adc4-4a96-83bf-6ea389a82e54", "evidence": "LMM investment portfolio consists of a diversified mix of secured debt and lower cost basis equity investments", "pageRefs": null, "priority": "Core", "whenToUse": null, "confidence": 0.7, "extraction": { "at": "2026-07-17 00:30:35.859598+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 33, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null }, { "tool": { "name": "Data Story Arc", "slug": "data-story-arc", "status": "active", "bestFor": null, "canonId": "019dd956-9c30-728e-b974-d3fb123dcf5a", "version": 1, "bodyDocId": null, "description": "Context → Conflict → Insight → Implication structure for data narratives", "familyLabel": null, "categoryName": "Loop", "categorySlug": "loop" }, "agent": "Storyteller", "layer": "slide", "agents": [ "Storyteller" ], "matchId": "6667a439-d3c9-4a30-805d-e59e62d64d40", "evidence": "list/bullet: Equity ownership in all LMM portfolio companies representing 40% average ownership position (28% of LMM portfolio at cost); Lower entry multiple valuations; Opportunity for dividend income; 59% of LMM compan", "pageRefs": null, "priority": "Core", "whenToUse": null, "confidence": 0.6, "extraction": { "at": "2026-07-17 00:30:35.897033+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 33, "whyItWorks": null, "antipattern": null, "cardinality": null, "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 34, "type": "setup", "title": "LMM stands for Lower Middle Market.", "function": "summarize", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "overcrowded", "densityScore": 86, "componentCount": 7, "textChars": 1261, "nDataPoints": 9, "notes": "LMM stands for Lower Middle Market.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.405+00", "seconds": 3.206, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/34", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-34", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.28, "x": 0.06, "y": 0.19 }, "kind": "callout", "text": "LMM investment portfolio is a pool of high quality, seasoned assets with attractive risk-adjusted return characteristics", "attrs": null, "canon": { "kind": { "name": "Callout", "slug": "callout", "status": "active", "canonId": "019de52c-f8d3-761a-8953-7d37080de5e2", "version": 1, "description": "Highlighted callout box." }, "tool": null, "subkind": { "name": "Primary callout", "slug": "primary", "status": "active", "canonId": "019de52c-fbd1-70eb-a9ce-8997f8674c1d", "version": 1, "description": null }, "framework": null }, "subkind": "primary", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "d15acf73-cc66-4370-9d4d-7572927c9c81", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.6, "x": 0.34, "y": 0.63 }, "kind": "list", "text": "High quality, seasoned LMM portfolio: Total LMM portfolio investments at fair value equals 126% of cost; Equity component of LMM portfolio at fair value equals 196% of cost; Significant portion of LMM portfolio has de-leveraged and a majority of the LMM portfolio investments have experienced equity appreciation; 48 LMM portfolio companies with unrealized appreciation on equity investments; Net unrealized appreciation on LMM Equity investments of $460.6 million", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8e95ab85-d7ac-4637-82ea-49b8396c9cb2", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.6, "x": 0.34, "y": 0.19 }, "kind": "list", "text": "Median LMM portfolio credit statistics(1): Senior leverage of 3.0x EBITDA through MAIN debt position; 2.4x EBITDA to senior interest coverage; Total leverage of 3.0x EBITDA including debt junior in priority to MAIN; Free cash flow de-leveraging improves credit metrics and increases equity appreciation", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c2502fd7-9383-45b5-9de1-293f598c76ce", "parentComponentId": null }, { "bbox": { "h": 0.08, "w": 0.6, "x": 0.34, "y": 0.45 }, "kind": "paragraph", "text": "Average investment size of $27.5 million at fair value or $21.8 million on a cost basis (less than 1% of total investment portfolio)", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "836f2f21-fcd5-4e32-b01b-41fff8327491", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.34, "y": 0.55 }, "kind": "paragraph", "text": "Opportunistic, selective posture toward new investment activity over the economic cycle", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c969cc44-1d2a-4b88-a3f0-a45e5ff9c81f", "parentComponentId": null }, { "bbox": { "h": 0.03, "w": 0.7, "x": 0.06, "y": 0.92 }, "kind": "source-note", "text": "(1) These credit statistics exclude portfolio companies on non-accrual and two companies for which EBITDA is not a meaningful metric", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "28f6d166-1c0c-425e-9853-61e7dc18de0c", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.35, "x": 0.06, "y": 0.1 }, "kind": "title", "text": "LMM Investment Portfolio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.405+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c0e14c3b-1fa6-4006-93eb-6e73d83db56f", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Analytical method", "slug": "analytical-method", "status": "active", "bestFor": null, "canonId": "b42c4911-7946-49b5-951c-5f3d23f4e2bd", "version": 1, "bodyDocId": null, "description": "Diagnostic / structuring methods (5-whys, fishbone, issue tree, hypothesis-driven).", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "b16edcb0-03bd-4a74-9dc2-4fca66d2d452", "evidence": "Median LMM portfolio credit statistics(1): Senior leverage of 3.0x EBITDA through MAIN debt position; 2.4x EBITDA to senior interest coverage; Total leverage of 3.0x EBITDA including debt junior in priority", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:30:35.971187+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 34, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 35, "type": "setup", "title": "Includes detailed footnotes regarding calculation methodology for yield and portfolio composition.", "function": "summarize", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "summarize", "functionCanon": { "name": "Summarize", "slug": "summarize", "status": "active", "canonId": "019de52d-1541-704f-b86f-bf7b75056373", "version": 1, "description": null }, "density": "dense", "densityScore": 68, "componentCount": 5, "textChars": 769, "nDataPoints": 8, "notes": "Includes detailed footnotes regarding calculation methodology for yield and portfolio composition.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.284+00", "seconds": 2.913, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/35", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-35", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.2, "w": 0.6, "x": 0.35, "y": 0.5 }, "kind": "list", "text": "Debt yielding 12.6%; 98% of Private Loan debt investments bear interest at floating rates; Over 500 basis point effective interest margin vs “matched” floating rate on MAIN’s Credit Facilities", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a2006319-1dc6-4c4e-8638-f2433e5c6cec", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "88 investments / $1.5 billion in fair value; 35% of total investment portfolio at fair value; Average investment size of $17.3 million; 96% of Private Loan portfolio is secured debt; 99% of Private Loan debt portfolio is first lien term debt", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ce3bf6e2-3237-42b7-887f-0786cc1d72af", "parentComponentId": null }, { "bbox": { "h": 0.15, "w": 0.25, "x": 0.05, "y": 0.2 }, "kind": "paragraph", "text": "Private Loan investment portfolio provides a diversified mix of investments and sources of income to complement the LMM investment portfolio", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "dc9d3524-031e-4440-82d0-6008acd94d70", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) As of June 30, 2023; based on cost (2) Weighted-average effective yield... (3) 95% of floating interest rates... (4) The defined term and additional details...", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "6a781a58-e0eb-4fa6-bb6b-e9cb15da0c71", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Private Loan Investment Portfolio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "4598873d-35cd-487b-ac26-5f134f4142e4", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "2x2 matrix", "slug": "matrix-2x2", "status": "active", "bestFor": null, "canonId": "019dd9e1-50ab-72d1-8afb-3ab0a38e32a8", "version": 1, "bodyDocId": null, "description": "BCG matrix, importance/urgency, any axes-and-quadrants frame.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "5a311217-8cdd-4029-a03d-9d8f1f8618f0", "evidence": "not clear evidence", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.5, "extraction": { "at": "2026-07-17 00:30:36.066776+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 35, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 36, "type": "analysis", "title": "Includes detailed footnotes regarding calculation methodology and definitions.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "dense", "densityScore": 62, "componentCount": 4, "textChars": 1455, "nDataPoints": 9, "notes": "Includes detailed footnotes regarding calculation methodology and definitions.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:59.036+00", "seconds": 3.633, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/36", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-36", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.6, "w": 0.6, "x": 0.35, "y": 0.2 }, "kind": "list", "text": "28 investments / $295.9 million in fair value\n7% of total investment portfolio at fair value\nAverage investment size of $12.6 million(1) (less than 1% of total portfolio)\nInvestments in secured and/or rated debt investments\n93%(1) of Middle Market portfolio is secured debt\n99%(1) of Middle Market debt portfolio is first lien term debt\nDebt yielding 11.8%(2)\n95%(1) of Middle Market debt investments bear interest at floating rates(3), providing matching with MAIN’s floating rate Credit Facilities(4)\nApproximately 425 basis point effective interest margin vs “matched” floating rate on MAIN’s Credit Facilities(4)", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "a95eddfb-29ce-4de6-98b6-c3be73fb391b", "parentComponentId": null }, { "bbox": { "h": 0.1, "w": 0.9, "x": 0.05, "y": 0.85 }, "kind": "source-note", "text": "(1) As of June 30, 2023; based on cost\n(2) Weighted-average effective yield is calculated using the applicable interest rate as of June 30, 2023 and includes amortization of deferred debt origination fees and accretion of original issue discount, but excludes fees payable upon repayment of the debt instruments and any debt investments on non-accrual status\n(3) 77% of floating interest rates on Middle Market debt investments are subject to contractual minimum “floor” rates\n(4) The defined term and additional details for the Credit Facilities is included on page 18", "attrs": null, "canon": { "kind": { "name": "Source note", "slug": "source-note", "status": "active", "canonId": "23484952-494b-4a5e-b1ad-550d0d70e948", "version": 1, "description": "Attribution / source / caveat placed at the slide footer. Numbered footnotes use attrs.numbered." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8417a158-d548-4857-898d-0e65707dc87f", "parentComponentId": null }, { "bbox": { "h": 0.3, "w": 0.3, "x": 0.05, "y": 0.2 }, "kind": "subtitle", "text": "Middle Market investment portfolio provides a diversified mix of investments and diverse sources of income to complement the LMM investment portfolio and represents a potential source of liquidity for MAIN’s future investment activities", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "9cd7cb6f-ea02-4a9c-89aa-ffe495e37223", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.5, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Middle Market Investment Portfolio", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.036+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2f1dc7ea-24ca-4a85-94ef-c25fde232e34", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 37, "type": "setup", "title": "Standard financial disclosure slide for non-GAAP metrics.", "function": "other", "rawType": "appendix_disclosure", "block": null, "metadata": { "slideType": "appendix_disclosure", "slideTypeCanon": { "name": "Appendix disclosure", "slug": "appendix_disclosure", "status": "active", "canonId": "019de52d-07b2-7549-8e8b-932a19f6e616", "version": 1, "description": null }, "function": "other", "functionCanon": { "name": "Other (fallback)", "slug": "other", "status": "active", "canonId": "019de52d-15e1-75bc-99dc-07732380e2ce", "version": 1, "description": null }, "density": "dense", "densityScore": 59, "componentCount": 5, "textChars": 591, "nDataPoints": 0, "notes": "Standard financial disclosure slide for non-GAAP metrics.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:59.579+00", "seconds": 4.132, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/37", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-37", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.06, "w": 0.16, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "MAIN ST CAPITAL CORPORATION", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.579+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1168a466-f143-4277-aaa5-71727372baec", "parentComponentId": null }, { "bbox": { "h": 0.55, "w": 0.44, "x": 0.52, "y": 0.19 }, "kind": "paragraph", "text": "Net Debt to NAV Ratio is calculated as the Debt to NAV Ratio as determined in accordance with U.S. GAAP, except that total debt is reduced by cash and cash equivalents...", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.579+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2dfa1982-7387-4406-827a-f51db887c0fb", "parentComponentId": null }, { "bbox": { "h": 0.25, "w": 0.44, "x": 0.06, "y": 0.19 }, "kind": "paragraph", "text": "Distributable net investment income is net investment income as determined in accordance with U.S. Generally Accepted Accounting Principles, or U.S. GAAP, excluding the impacts of non-cash compensation expenses...", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.579+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "8a771fdd-b9c0-4f92-875b-5b82d0e89d10", "parentComponentId": null }, { "bbox": { "h": 0.35, "w": 0.44, "x": 0.06, "y": 0.44 }, "kind": "paragraph", "text": "Non-cash compensation expenses consist of (i) share-based compensation and (ii) deferred compensation expense or benefit, both of which are non-cash in nature...", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.579+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c4ca8a11-07ab-4888-9097-56cd3bc4feac", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.36, "x": 0.06, "y": 0.11 }, "kind": "title", "text": "Non-GAAP Information", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:59.579+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ec0bc3da-5edc-4a1e-a4cf-b3574962cbbd", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 38, "type": "appendix", "function": "appendix", "rawType": "appendix", "block": null, "metadata": { "slideType": "appendix", "slideTypeCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-0762-71f8-b564-89ab863301cc", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "sparse", "densityScore": 12, "componentCount": 3, "textChars": 75, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.057+00", "seconds": 2.524, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/38", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-38", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.08, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "Main Street Capital Corporation logo", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.057+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "1cb2a2d9-9140-452c-9f32-8f60af30b16e", "parentComponentId": null }, { "bbox": { "h": 0.2, "w": 0.4, "x": 0.05, "y": 0.4 }, "kind": "title", "text": "Appendix", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.057+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "66e98bb3-bb5b-4ce9-808a-da840479936e", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "Main Street Capital Corporation", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "019de52c-fb09-739d-900c-815b0d9ac526", "version": 1, "description": null }, "framework": null }, "subkind": "subtitle", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.057+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2da6d221-160f-4bb8-9149-5ee3ede982bf", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 39, "type": "analysis", "title": "Includes detailed breakdown of investment income, expenses, DNII, and net increase in net assets.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 41, "componentCount": 3, "textChars": 395, "nDataPoints": 85, "notes": "Includes detailed breakdown of investment income, expenses, DNII, and net increase in net assets.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.284+00", "seconds": 2.533, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/39", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-39", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.1, "w": 0.7, "x": 0.05, "y": 0.83 }, "kind": "disclaimer", "text": "(1) Positive percentage represents an increase and negative percentage represents a decrease to the Net Increase (Decrease) in Net Assets (2) Excludes non-cash compensation expenses (3) See Non-GAAP Information disclosures on page 37 (4) Change in DNII Margin", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "44dbef15-4b48-4f18-8039-66e458e293f6", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Income statement data table with columns for Q2 22, Q3 22, Q4 22, Q1 23, Q2 23, and Q2 23 vs. Q2 22 Change.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "2f39d821-b7fc-4aa0-bc5a-299f9ea66196", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.4, "x": 0.05, "y": 0.09 }, "kind": "title", "text": "MAIN Income Statement Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.284+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f0e26380-f903-485a-9874-03d11e7a76b6", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "4d021d19-91b4-4e94-9068-bedabb8a3874", "evidence": "Income statement data table with columns for Q2 22, Q3 22, Q4 22, Q1 23, Q2 23, and Q2 23 vs. Q2 22 Change.", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:36.254773+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 39, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 40, "type": "analysis", "title": "The table reconciles the beginning NAV to the ending NAV for each quarter, accounting for income, expenses, dividends, and share offerings.", "function": "analyze_data", "rawType": "appendix_data", "block": null, "metadata": { "slideType": "appendix_data", "slideTypeCanon": { "name": "Appendix data", "slug": "appendix_data", "status": "active", "canonId": "019de52d-078a-745b-9ee4-c15f2f539acd", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 37, "componentCount": 3, "textChars": 321, "nDataPoints": 65, "notes": "The table reconciles the beginning NAV to the ending NAV for each quarter, accounting for income, expenses, dividends, and share offerings.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.434+00", "seconds": 2.582, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/40", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-40", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.15, "w": 0.9, "x": 0.05, "y": 0.08 }, "kind": "disclaimer", "text": "Certain fluctuations in per share amounts are due to rounding differences between quarters. (1) See Non-GAAP Information disclosures... (2) Includes accretive impact... (3) Includes differences in weighted-average shares...", "attrs": null, "canon": { "kind": { "name": "Disclaimer", "slug": "disclaimer", "status": "active", "canonId": "91173477-d91f-4024-bbaf-d4f93e3f82dc", "version": 1, "description": "Legal/cautionary text that occupies most of the body of its slide." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.434+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "62810cea-d5b0-4862-8379-249c0aa65a9c", "parentComponentId": null }, { "bbox": { "h": 0.6, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Table showing quarterly NAV per share reconciliation", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.434+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "ea527c56-af31-49b5-a0e3-c7106e44e6a2", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.6, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "MAIN Per Share Change in Net Asset Value (NAV)", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.434+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "80dedbd8-8c6b-4b0a-86e2-3d16d0d9c8ef", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "Table data", "slug": "table-data", "status": "active", "bestFor": null, "canonId": "019dd9e1-4fab-7168-a82f-b847350a006d", "version": 1, "bodyDocId": null, "description": "Tabular layouts of structured data.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "f21d3464-a445-4ac9-980a-ed5a4c08b3d6", "evidence": "Table showing quarterly NAV per share reconciliation", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.9, "extraction": { "at": "2026-07-17 00:30:36.330736+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 40, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 41, "type": "analysis", "title": "Includes a footnote detailing the composition of Notes Payable.", "function": "analyze_data", "rawType": "kpi_overview", "block": null, "metadata": { "slideType": "kpi_overview", "slideTypeCanon": { "name": "KPI overview (contrarian)", "slug": "kpi_overview", "status": "active", "canonId": "019de52d-11d5-7328-b1d1-5368a03e7796", "version": 1, "description": null }, "function": "analyze_data", "functionCanon": { "name": "Analyze data", "slug": "analyze_data", "status": "active", "canonId": "019de52d-1590-7413-8c82-cc218cff40b4", "version": 1, "description": null }, "density": "balanced", "densityScore": 40, "componentCount": 3, "textChars": 379, "nDataPoints": 95, "notes": "Includes a footnote detailing the composition of Notes Payable.", "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.82+00", "seconds": 2.875, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/41", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-41", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.05, "w": 0.9, "x": 0.05, "y": 0.9 }, "kind": "subtitle", "text": "(1) Includes $500.0 million of July 2026 Notes, $450.0 million of May 2024 Notes, $185.0 million of December 2022 Notes (repaid Q4 2022) and $150.0 million of December 2025 Notes ($100.0 million issued in Q4 2022 and $50.0 million issued in Q1 2023)", "attrs": null, "canon": { "kind": { "name": "Subtitle", "slug": "subtitle", "status": "active", "canonId": "82d821ee-2793-42e7-8f16-c6131385a3ce", "version": 1, "description": "Header-zone supporting text near the title (= ex body.description with bbox)." }, "tool": null, "subkind": null, "framework": null }, "subkind": null, "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.82+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "3cf15fa8-d614-4311-a80b-7b9a21c2c9a7", "parentComponentId": null }, { "bbox": { "h": 0.65, "w": 0.9, "x": 0.05, "y": 0.18 }, "kind": "table", "text": "Balance sheet data table showing assets, liabilities, NAV, and stock price data for Q2 22 through Q2 23.", "attrs": null, "canon": { "kind": { "name": "Table", "slug": "table", "status": "active", "canonId": "019de52c-f9c8-7148-8119-eaac9594cd28", "version": 1, "description": "Tabular data layout." }, "tool": null, "subkind": { "name": "Data table", "slug": "data", "status": "active", "canonId": "019de52d-02d5-75b8-8abf-88e92bf63569", "version": 1, "description": null }, "framework": null }, "subkind": "data", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.82+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f0534b6a-65ff-472b-a035-55575f652e81", "parentComponentId": null }, { "bbox": { "h": 0.05, "w": 0.4, "x": 0.05, "y": 0.1 }, "kind": "title", "text": "MAIN Balance Sheet Summary", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.82+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "c3824479-66ef-498f-8a15-00b7976d8477", "parentComponentId": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "locked": true }, { "page": 42, "type": "appendix", "function": "appendix", "rawType": "appendix", "block": null, "metadata": { "slideType": "appendix", "slideTypeCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-0762-71f8-b564-89ab863301cc", "version": 1, "description": null }, "function": "appendix", "functionCanon": { "name": "Appendix", "slug": "appendix", "status": "active", "canonId": "019de52d-138d-750b-83c3-49b4bc7a7a38", "version": 1, "description": null }, "density": "balanced", "densityScore": 38, "componentCount": 4, "textChars": 337, "nDataPoints": 0, "notes": null, "elementsJson": null, "confidence": 1, "extraction": { "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "at": "2026-05-02 11:34:58.634+00", "seconds": 2.373, "promptVersion": "v2-canon-conditioned" } }, "links": { "slide": "/slides/019de075-b52f-71f7-85ad-81c9cd075071/42", "deck": "/decks/019de075-b52f-71f7-85ad-81c9cd075071", "deckAnchor": "/decks/019de075-b52f-71f7-85ad-81c9cd075071#slide-42", "deckJson": "/decks/019de075-b52f-71f7-85ad-81c9cd075071.json" }, "components": [ { "bbox": { "h": 0.06, "w": 0.15, "x": 0.8, "y": 0.03 }, "kind": "image", "text": "MAIN CAPITAL CORPORATION", "attrs": null, "canon": { "kind": { "name": "Image", "slug": "image", "status": "active", "canonId": "019de52c-f978-701f-a720-51d029d769e7", "version": 1, "description": "Photo, illustration, screenshot or icon." }, "tool": null, "subkind": { "name": "Logo", "slug": "logo", "status": "active", "canonId": "019de52c-fdaf-743d-94c4-d7c6a0e55302", "version": 1, "description": null }, "framework": null }, "subkind": "logo", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.634+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "706f9ace-2e3d-40ec-bdb9-1ac276b5a053", "parentComponentId": null }, { "bbox": { "h": 0.7, "w": 0.9, "x": 0.06, "y": 0.2 }, "kind": "list", "text": "Board of Directors, Executive Officers, Research Coverage, Corporate Headquarters, Investor Relation Contacts, Corporate Counsel, Securities Listing, Transfer Agent, Management Executive Committee, Investment Committee", "attrs": null, "canon": { "kind": { "name": "List", "slug": "list", "status": "active", "canonId": "019de52c-f94b-779b-a53b-fd4904a5f4d2", "version": 1, "description": "Bullet or numbered list." }, "tool": null, "subkind": { "name": "Bullet list", "slug": "bullet", "status": "active", "canonId": "019de52c-fc98-7169-a083-5cab805076ca", "version": 1, "description": null }, "framework": null }, "subkind": "bullet", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.634+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "46fd9171-30dd-4fc9-8f3d-dc896fcf3c38", "parentComponentId": null }, { "bbox": { "h": 0.02, "w": 0.5, "x": 0.06, "y": 0.16 }, "kind": "paragraph", "text": "Please visit our website at www.mainstcapital.com for additional information", "attrs": null, "canon": { "kind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "5f2affc0-941d-4d07-959d-4bfc1930cea4", "version": 1, "description": "Single prose block in the body of a slide." }, "tool": null, "subkind": { "name": "Paragraph", "slug": "paragraph", "status": "active", "canonId": "019de52c-fb80-75af-aa5c-a7a4bfac2433", "version": 1, "description": null }, "framework": null }, "subkind": "paragraph", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.634+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "f083d370-e47b-4d0c-aa07-896c2f1c8e18", "parentComponentId": null }, { "bbox": { "h": 0.04, "w": 0.35, "x": 0.06, "y": 0.1 }, "kind": "title", "text": "MAIN Corporate Data", "attrs": null, "canon": { "kind": { "name": "Title", "slug": "title", "status": "active", "canonId": "019de52c-f7dd-76d9-b848-b1f12bd85cf4", "version": 1, "description": "Slide title or headline." }, "tool": null, "subkind": { "name": "Headline", "slug": "headline", "status": "active", "canonId": "019de52c-fae1-7463-9a7c-d60668eced0d", "version": 1, "description": null }, "framework": null }, "subkind": "headline", "groupRole": null, "confidence": null, "extraction": { "at": "2026-05-02 11:34:58.634+00", "model": "google/gemini-3.1-flash-lite-preview-20260303", "runId": null, "seconds": null, "promptVersion": null }, "componentId": "e348c212-0d49-413b-825a-4c9ed072c2ba", "parentComponentId": null } ], "metrics": [], "tools": [ { "tool": { "name": "List presentation", "slug": "list-presentation", "status": "active", "bestFor": null, "canonId": "019dd9e1-4ef7-777d-ba68-9074c2b3bcf1", "version": 1, "bodyDocId": null, "description": "Bulleted, numbered, or checklist enumerations.", "familyLabel": null, "categoryName": null, "categorySlug": null }, "agent": null, "layer": "slide", "agents": null, "matchId": "6d8c31ae-b63a-4bb4-83b2-53e155b94b0f", "evidence": "list/bullet: Board of Directors, Executive Officers, Research Coverage, Corporate Headquarters, Investor Relation Contacts, Corporate Counsel, Securities Listing, Transfer Agent, Management Executive Committee, Investmen", "pageRefs": null, "priority": null, "whenToUse": null, "confidence": 0.8, "extraction": { "at": "2026-07-17 00:30:36.439055+00", "model": "or:meta-llama/llama-4-scout", "runId": null, "seconds": null, "promptVersion": null }, "pageNumber": 42, "whyItWorks": null, "antipattern": null, "cardinality": "common", "narrativePurpose": null } ], "frameworks": [], "arcBeats": [], "loops": [], "locked": true } ], "arcBeats": [ { "from": 4, "to": 6, "label": "Problem", "description": "The document presents an overview of MAIN's investment portfolio and strategy" }, { "from": 7, "to": 13, "label": "Solution", "description": "The document highlights MAIN's key credit highlights and operating structure" }, { "from": 23, "to": 24, "label": "Market Size", "description": "The document presents an overview of the LMM investment opportunity" }, { "from": 25, "to": 26, "label": "Product", "description": "The document describes MAIN's private loan investment strategy and middle market debt investment strategy" }, { "from": 14, "to": 15, "label": "Team", "description": "The document presents an overview of MAIN's executive management team and significant management ownership" } ], "loops": [ { "from": 20, "to": 20, "label": "Cost Of Inaction", "description": "Highlighting the impact of interest rate changes on MAIN's portfolio" }, { "from": 4, "to": 6, "label": "Voice Of Customer", "description": "Presenting MAIN's investment strategy and portfolio" } ] }