{
  "docId": "019de075-2aae-76c5-b03c-c7f203c7f0b5",
  "docSlug": "2e9fbb613837048464351063cd777af9",
  "documentTitle": "Main Street Capital | Investor Day Presentation Deck | 155 slides",
  "authorId": "main-street-capital",
  "authorName": "Main Street Capital Corporation",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-06-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 19,
  "pageCount": 132,
  "prevPage": 18,
  "nextPage": 20,
  "slideType": "peer_benchmark",
  "function": "compare_peers",
  "density": "dense",
  "nDataPoints": 6,
  "notes": "The chart uses a custom benchmark grouping (MAIN vs Top 10%, Top Quartile, Middle Quartile, Average, Bottom Quartile).",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de075-2aae-76c5-b03c-c7f203c7f0b5/19",
  "deckHref": "/decks/019de075-2aae-76c5-b03c-c7f203c7f0b5",
  "deckJsonHref": "/decks/019de075-2aae-76c5-b03c-c7f203c7f0b5.json",
  "deckAnchorHref": "/decks/019de075-2aae-76c5-b03c-c7f203c7f0b5#slide-19",
  "components": [
    {
      "bbox": {
        "h": 0.6,
        "w": 0.7,
        "x": 0.25,
        "y": 0.18
      },
      "kind": "chart",
      "text": "BDC Manager Costs Relative to Total Economic Benefit Generated",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6a145649-c4db-4bc8-85d9-8d6e0ea763af",
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    {
      "bbox": {
        "h": 0.12,
        "w": 0.9,
        "x": 0.05,
        "y": 0.83
      },
      "kind": "disclaimer",
      "text": "(1) Source: Public company filings\n(2) Calculated as compensation and management fees divided by [Net Increase in Net Assets (i.e., Net Income) plus compensation and management fees]\n(3) Amounts represent the total for the most recent five trailing twelve month periods through December 31, 2022 for each respective company; for each applicable BDC not > 5 years past IPO, the first full fiscal year-end post-IPO was used as the starting point for this analysis; see Appendix for details by BDC\n(4) Comparison columns include all BDCs noted in footnote (3) excluding (a) MAIN and (b) a BDC that had a net decrease in net assets and which would significantly affect the Peer Group comparisons; as an example, the Average would be 56.7% including the BDC with a net decrease in net assets; see Appendix for details",
      "attrs": null,
      "subkind": null,
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      "componentId": "8b55bd8f-39ed-4244-b5d5-d00bd87f94a8",
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      "bbox": {
        "h": 0.3,
        "w": 0.22,
        "x": 0.05,
        "y": 0.185
      },
      "kind": "list",
      "text": "MAIN has the lowest BDC manager costs relative to total economic benefit generated(4)\n\nMAIN's actual results equal greater than one-third more efficient than the Top Quartile of all other BDCs",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b0013ae2-8807-4036-aa02-73f1e41b95cc",
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    {
      "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,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4a4cc1c0-c02f-4502-89ac-48d2ebe18974",
      "frameworkName": null,
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    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Slide recipe: the peer-gap chart",
      "slug": "peer-gap-chart-recipe",
      "agent": "designer",
      "layer": "slide",
      "matchId": "c1c4b506-7e17-4fe5-9776-6e0523b2d378",
      "evidence": "The slide presents a bar chart comparing BDC manager costs across companies, which is a type of peer gap chart.",
      "confidence": 0.7
    }
  ],
  "frameworks": [
    {
      "name": "comparison_frame",
      "slug": null,
      "matchId": "27488312-fd46-46a8-b5c9-c05e8f974971",
      "evidence": "Compares MAIN against industry quartiles to establish competitive advantage.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 20,
      "from": 6,
      "beatId": "e4ba2cbe-fdae-433c-9866-e15c08800f09",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Solution",
      "beatSlug": "sequoia-pitch-solution",
      "evidence": "The presentation then outlines MAIN's LMM investment strategy and its benefits.",
      "position": 1,
      "confidence": 0.8,
      "parentBeatName": "Turn",
      "parentBeatSlug": "turn"
    }
  ],
  "loops": [
    {
      "to": 20,
      "from": 10,
      "name": "Golden Circle",
      "slug": "11-golden-circle",
      "bestFor": "Visionary leadership, brand positioning, mission statements",
      "matchId": "ff28c6e9-1bac-4086-9c25-70db0b4ff6a8",
      "evidence": "The presentation uses the Golden Circle framework to explain MAIN's investment strategy and its benefits.",
      "position": 0,
      "objective": "To explain MAIN's investment strategy and its benefits",
      "structure": "The Why (Belief) -> The How (Process) -> The What (Result)",
      "confidence": 0.7,
      "description": "Invert the typical pitch by starting with why you exist, rather than what you do"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}