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Main Street Capital

Main Street Capital · Q4 2025 (3 months ago)

SEC EDGAR ↗

$14.9BPortfolio FV

1599Positions(939 debt, 650 equity)

98.9¢Avg Mark

167Stressed

Portfolio Quality

Portfolio Healthⓘ

A100/ 100

Non-accrual: 0.0%

Stressed: 8.3%

Avg mark: 98.9¢

Grade: A (90+) · B (80-89) · C (70-79) · D (60-69) · F (<60)|Factors: distressed non-accruals (mark <95%), stressed positions, avg mark, first lien %

Data Quality

76%

Fair Value

77%

Spread

62%

Lien

100%

Mark

64%

Avg Spread

807bps

Fair-value weighted

Avg Mark

98.9¢

78 stressed (<90¢)

First Lien

99%

Senior secured positions

PIK Income

18%

Deferred interest yield

Non-Accrual

0.0%

Of portfolio FV

Portfolio Mix

939debt

660 equity positions

Key Financials

NAV / Share

33.33$

↑

Net Asset Value per share

Dividend Coverage

0.94x

Undercovered

NII per share ÷ Dividend per share

Leverage

0.76x

Debt ÷ Equity

Total Assets

5.7B

Total portfolio value

NII / Share

1.00$

Annual

Net Investment Income per share

Dividend / Share

1.06$

Quarterly

Most recent quarterly dividend

Est. Div Yield

12.8%

Annualized

Estimated annual dividend yield

Total Debt

2.5B

Total debt outstanding

Equity

3.2B

Total assets - Total debt

Historical Trends

NAV Per Share — 8 Quarters

+12.8% over period

NAVAnnualized Div

NII vs Dividend Coverage

NII/shareCoverage

Portfolio Composition

Investment Type

1599positions

First Lien927

Equity650

Unsecured12

Structured Product10

Rate Type

Fixed1087

SOFR383

SF+110

Base/Prime11

+1 more

Maturity Profile

Avg: 1.9 years

679 debt positions with maturity data

Top Sectors

Top Borrowers by FV

Include equity

Excluding 660 equity/SPV positions

Fair Value Mark Distribution

3.1% stressed(<80¢, $202M)7.5% watchlist(80–95¢, $494M)89.4% healthy(≥95¢, $5871M)

Weighted median mark: 100.2¢

Fair value mark — cents on dollar (debt positions only, weighted by fair value)

Schedule of Investments1599 positions

PIK onlyStressed only

PIK = Payment-in-Kind (deferred interest)NA = Non-accrual (not collecting interest)⚠ = Stressed (mark <90¢)

Company	#	Sector	Total FV ▼	Avg Mark	Status(PIK● NA● ⚠)
▶Gamber-Johnson Holdings, LLC	14	Industrials	$799.3M	100.2¢	PIK: 2
▶MSC Adviser I, LLC	3	Financials	$756.0M	—
▶Bolder Panther Group, LLC	9	Consumer Discretionary	$467.1M	100.3¢
▶Cody Pools, Inc.	9	Consumer Discretionary	$314.0M	98.2¢
▶Flame King Holdings, LLC	7	Industrials	$313.1M	100.9¢
▶OMi Topco, LLC	10	Industrials	$295.5M	100.2¢
▶Victory Energy Operations, LLC	12	Industrials	$285.1M	100.0¢
▶GRT Rubber Technologies LLC	9	Materials	$269.5M	100.1¢
▶Chamberlin Holding LLC	17	Industrials	$268.0M	100.4¢	PIK: 4
▶SI East, LLC	9	Materials	$256.2M	100.1¢
▶California Splendor Holdings LLC	16	Consumer Staples	$228.2M	98.0¢	PIK: 4⚠ 3
▶Hawk Ridge Systems, LLC	12	Information Technology	$214.6M	98.4¢	⚠ 1
▶Centre Technologies Holdings, LLC	14	Information Technology	$209.5M	100.1¢	PIK: 4
▶Creative Foam Corporation	6	Industrials	$199.8M	101.1¢	⚠ 1
▶Nebraska Vet AcquireCo, LLC	10	Health Care	$199.0M	—
▶Nello Industries Investco, LLC	11	Industrials	$195.8M	106.9¢
▶CBT Nuggets, LLC	4	Communication Services	$194.9M	—
▶Pinnacle TopCo, LLC	12	Materials	$189.3M	97.7¢
▶IG Investor, LLC	9	Industrials	$182.4M	100.3¢
▶FCC Intermediate Holdco, LLC	9	Industrials	$172.5M	105.7¢

Page 1 of 13 (242 companies, 1599 positions)

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