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  "docSlug": "74bca2ff7f9064da52d498451f51012b",
  "documentTitle": "Main Street Capital | Investor Presentation Deck | 49 slides",
  "authorId": "main-street-capital",
  "authorName": "Main Street Capital Corporation",
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  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-05-01 00:00:00",
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  "function": "analyze_data",
  "density": "overcrowded",
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  "notes": "LMM stands for Lower Middle Market.",
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      "kind": "list",
      "text": "79 portfolio companies / $2.1 billion in fair value\n51% of total investment portfolio at fair value",
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      "text": "Equity ownership in all LMM portfolio companies representing 41% average ownership position (27% of LMM portfolio at cost)\nOpportunity for dividend income, fair value appreciation and periodic capital gains\n64% of LMM companies(2) with direct equity investment are currently paying dividends\nFair value appreciation of equity investments supports Net Asset Value per share growth\nLower entry multiple valuations, lower cost basis\n$384.7 million, or $4.82 per share, of cumulative pre-tax net unrealized appreciation at March 31, 2023",
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      "text": "Debt yielding 12.6%(1) (73% of LMM portfolio at cost)\n99% of debt investments have first lien position\n63% of debt investments earn fixed-rate interest\nApproximately 830 basis point net cash interest margin",
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      "text": "LMM investment portfolio consists of a diversified mix of secured debt and lower cost basis equity investments",
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      "text": "(1) Weighted-average effective yield is calculated using the applicable interest rate as of March 31, 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(2) Includes the LMM companies that (a) MAIN has a direct equity investment and (b) are flow-through entities for tax purposes; based upon dividend income for the trailing twelve month period ended March 31, 2023",
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      "text": "LMM Investment Portfolio",
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      "name": "Cost Of Inaction",
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