{
  "docId": "019de075-b5da-7428-a2c8-7d56a0dc175b",
  "docSlug": "5cd999761cbfce222b095be1b4a60428",
  "documentTitle": "Main Street Capital | Investor Presentation Deck | 49 slides",
  "authorId": "main-street-capital",
  "authorName": "Main Street Capital Corporation",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2023-08-01 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 23,
  "pageCount": 49,
  "prevPage": 22,
  "nextPage": 24,
  "slideType": "traction",
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  "density": "dense",
  "nDataPoints": 12,
  "notes": "LMM stands for Lower Middle Market.",
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  "slideHref": "/slides/019de075-b5da-7428-a2c8-7d56a0dc175b/23",
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  "deckAnchorHref": "/decks/019de075-b5da-7428-a2c8-7d56a0dc175b#slide-23",
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      "kind": "disclaimer",
      "text": "(1) 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(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 June 30, 2023",
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      "kind": "list",
      "text": "79 portfolio companies / $2.2 billion in fair value\n52% of total investment portfolio at fair value\nDebt yielding 12.9%(1) (72% of LMM portfolio at cost)\n99% of debt investments have first lien position\n70% of debt investments earn fixed-rate interest\nOver 850 basis point net cash interest margin vs “matched” fixed interest rate on SBIC debentures and Notes Payable\nEquity ownership in all LMM portfolio companies representing 40% average ownership position (28% of LMM portfolio at cost)\nLower entry multiple valuations, lower cost basis\nOpportunity for dividend income, fair value appreciation and periodic capital gains\n59% 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\n$449.3 million, or $5.54 per share, of cumulative pre-tax net unrealized appreciation at June 30, 2023",
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      "kind": "paragraph",
      "text": "LMM investment portfolio consists of a diversified mix of secured debt and lower cost basis equity investments",
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      "kind": "title",
      "text": "LMM Investment Portfolio",
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      "subkind": "headline",
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  "loops": [
    {
      "to": 26,
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      "name": "Quick Win Big Bet",
      "slug": "47-quick-win-big-bet",
      "bestFor": "Transformation planning, 100-day plans, resource allocation",
      "matchId": "4b683f95-da29-4e1b-b846-997e0846532b",
      "evidence": "The deck presents detailed information on MAIN's investment portfolio",
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      "structure": "The Full List -> Quick Wins (Low effort, High impact) -> Big Bets (High effort, High impact) -> Sequenced Roadmap",
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