Companies: 11,252     total market cap: $155.602 T
โ‚ฌEUR๐Ÿ‡ช๐Ÿ‡บโ‚นINR๐Ÿ‡ฎ๐Ÿ‡ณยฃGBP๐Ÿ‡ฌ๐Ÿ‡ง$CAD๐Ÿ‡จ๐Ÿ‡ฆ$AUD๐Ÿ‡ฆ๐Ÿ‡บ$NZD๐Ÿ‡ณ๐Ÿ‡ฟ$HKD๐Ÿ‡ญ๐Ÿ‡ฐ$SGD๐Ÿ‡ธ๐Ÿ‡ฌ
Main Street Capital
MAIN
#3087
Rank
$5.47 B
Marketcap
๐Ÿ‡บ๐Ÿ‡ธ United States
Country
$58.59
Share price
0.27%
Change (1 day)
-9.35%
Change (1 year)
๐Ÿ’ณ Financial services
Categories
  1. Main Street Capital
  2. Quarterly Reports (10-Q)
  3. Financial Year FY2026 Q2

Main Street Capital - 10-Q quarterly report FY2026 Q2


Text size:
000139644012-312026Q2falseoneoneP5YP3YP3YP5Yxbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:puremain:companymain:segmentmain:investmentmain:entitymain:investmentManagermain:lendermain:plan00013964402026-01-012026-06-3000013964402026-08-060001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2026-06-300001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2025-12-310001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-06-300001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-12-310001396440us-gaap:InvestmentUnaffiliatedIssuerMember2026-06-300001396440us-gaap:InvestmentUnaffiliatedIssuerMember2025-12-3100013964402026-06-3000013964402025-12-310001396440us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2026-06-300001396440us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2025-12-310001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2026-04-012026-06-300001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2025-04-012025-06-300001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2026-01-012026-06-300001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2025-01-012025-06-300001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-04-012026-06-300001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-04-012025-06-300001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-01-012026-06-300001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-01-012025-06-300001396440us-gaap:InvestmentUnaffiliatedIssuerMember2026-04-012026-06-300001396440us-gaap:InvestmentUnaffiliatedIssuerMember2025-04-012025-06-300001396440us-gaap:InvestmentUnaffiliatedIssuerMember2026-01-012026-06-300001396440us-gaap:InvestmentUnaffiliatedIssuerMember2025-01-012025-06-3000013964402026-04-012026-06-3000013964402025-04-012025-06-3000013964402025-01-012025-06-300001396440us-gaap:CommonStockMember2024-12-310001396440us-gaap:AdditionalPaidInCapitalMember2024-12-310001396440us-gaap:RetainedEarningsMember2024-12-3100013964402024-12-310001396440us-gaap:CommonStockMember2025-01-012025-03-310001396440us-gaap:AdditionalPaidInCapitalMember2025-01-012025-03-3100013964402025-01-012025-03-310001396440us-gaap:RetainedEarningsMember2025-01-012025-03-310001396440us-gaap:CommonStockMember2025-03-310001396440us-gaap:AdditionalPaidInCapitalMember2025-03-310001396440us-gaap:RetainedEarningsMember2025-03-3100013964402025-03-310001396440us-gaap:CommonStockMember2025-04-012025-06-300001396440us-gaap:AdditionalPaidInCapitalMember2025-04-012025-06-300001396440us-gaap:RetainedEarningsMember2025-04-012025-06-300001396440us-gaap:CommonStockMember2025-06-300001396440us-gaap:AdditionalPaidInCapitalMember2025-06-300001396440us-gaap:RetainedEarningsMember2025-06-3000013964402025-06-300001396440us-gaap:CommonStockMember2025-12-310001396440us-gaap:AdditionalPaidInCapitalMember2025-12-310001396440us-gaap:RetainedEarningsMember2025-12-310001396440us-gaap:CommonStockMember2026-01-012026-03-310001396440us-gaap:AdditionalPaidInCapitalMember2026-01-012026-03-3100013964402026-01-012026-03-310001396440us-gaap:RetainedEarningsMember2026-01-012026-03-310001396440us-gaap:CommonStockMember2026-03-310001396440us-gaap:AdditionalPaidInCapitalMember2026-03-310001396440us-gaap:RetainedEarningsMember2026-03-3100013964402026-03-310001396440us-gaap:CommonStockMember2026-04-012026-06-300001396440us-gaap:AdditionalPaidInCapitalMember2026-04-012026-06-300001396440us-gaap:RetainedEarningsMember2026-04-012026-06-300001396440us-gaap:CommonStockMember2026-06-300001396440us-gaap:AdditionalPaidInCapitalMember2026-06-300001396440us-gaap:RetainedEarningsMember2026-06-300001396440main:March2029NotesMember2026-01-012026-06-300001396440main:March2029NotesMember2025-01-012025-06-300001396440main:April2031NotesMember2026-01-012026-06-300001396440main:April2031NotesMember2025-01-012025-06-300001396440American Nuts, LLC | Secured Debt 12026-06-300001396440American Nuts, LLC | Secured Debt 22026-06-300001396440American Nuts, LLC | Secured Debt 32026-06-300001396440American Nuts, LLC | Preferred Equity2026-06-300001396440main:AmericanNutsLLCMember2026-06-300001396440Analytical Systems Keco Holdings, LLC | Secured Debt2026-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 12026-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 22026-06-300001396440Analytical Systems Keco Holdings, LLC | Warrants2026-06-300001396440main:AnalyticalSystemsKecoHoldingsLLCMember2026-06-300001396440Batjer TopCo, LLC | Secured Debt 12026-06-300001396440Batjer TopCo, LLC | Secured Debt 22026-06-300001396440Batjer TopCo, LLC | Secured Debt 32026-06-300001396440Batjer TopCo, LLC | Preferred Stock2026-06-300001396440main:BatjerTopCoLLCMember2026-06-300001396440BDB Holdings, LLC | Secured Debt2026-06-300001396440BDB Holdings, LLC | Preferred Equity2026-06-300001396440main:BDBHoldingsLLCMember2026-06-300001396440Bolder Panther Group, LLC | Secured Debt2026-06-300001396440Bolder Panther Group, LLC | Class B Preferred Member Units2026-06-300001396440main:BolderPantherGroupLLCMember2026-06-300001396440Brewer Crane Holdings, LLC | Secured Debt2026-06-300001396440Brewer Crane Holdings, LLC | Preferred Member Units 12026-06-300001396440Brewer Crane Holdings, LLC | Preferred Member Units 22026-06-300001396440main:BrewerCraneHoldingsLLCMember2026-06-300001396440Bridge Capital Solutions Corporation | Preferred Member Units2026-06-300001396440Bridge Capital Solutions Corporation | Warrants2026-06-300001396440main:BridgeCapitalSolutionsCorporationMember2026-06-300001396440California Splendor Holdings LLC | Secured Debt 12026-06-300001396440California Splendor Holdings LLC | Secured Debt 22026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 12026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 22026-06-300001396440main:CaliforniaSplendorHoldingsLLCMember2026-06-300001396440CBT Nuggets, LLC | Member Units2026-06-300001396440Chamberlin Holding LLC | Secured Debt 12026-06-300001396440Chamberlin Holding LLC | Secured Debt 22026-06-300001396440Chamberlin Holding LLC | Member Units 12026-06-300001396440Chamberlin Holding LLC | Member Units 22026-06-300001396440main:ChamberlinHoldingLLCMember2026-06-300001396440Charps, LLC | Unsecured Debt2026-06-300001396440Charps, LLC | Preferred Member Units2026-06-300001396440main:CharpsLLCMember2026-06-300001396440Clad-Rex Steel, LLC | Secured Debt 12026-06-300001396440Clad-Rex Steel, LLC | Secured Debt 22026-06-300001396440Clad-Rex Steel, LLC | Secured Debt 32026-06-300001396440Clad-Rex Steel, LLC | Member Units 12026-06-300001396440Clad-Rex Steel, LLC | Member Units 22026-06-300001396440main:CladRexSteelLLCMember2026-06-300001396440Cody Pools, Inc. | Secured Debt 12026-06-300001396440Cody Pools, Inc. | Secured Debt 22026-06-300001396440Cody Pools, Inc. | Preferred Member Units2026-06-300001396440main:CodyPoolsIncMember2026-06-300001396440Colonial Electric Company LLC | Secured Debt 12026-06-300001396440Colonial Electric Company LLC | Secured Debt 22026-06-300001396440Colonial Electric Company LLC | Preferred Member Units2026-06-300001396440main:ColonialElectricCompanyLLCMember2026-06-300001396440CompareNetworks Topco, LLC | Secured Debt2026-06-300001396440CompareNetworks Topco, LLC | Preferred Member Units2026-06-300001396440main:CompareNetworksTopcoLLCMember2026-06-300001396440Compass Systems & Sales, LLC | Secured Debt 12026-06-300001396440Compass Systems & Sales, LLC | Secured Debt 22026-06-300001396440Compass Systems & Sales, LLC | Preferred Equity2026-06-300001396440main:CompassSystemsSalesLLCMember2026-06-300001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2026-06-300001396440Cybermedia Technologies, LLC | Secured Debt 12026-06-300001396440Cybermedia Technologies, LLC | Secured Debt 22026-06-300001396440Cybermedia Technologies, LLC | Preferred Member Units2026-06-300001396440Cybermedia Technologies, LLC | Preferred Equity2026-06-300001396440main:CybermediaTechnologiesLLCMember2026-06-300001396440Datacom, LLC | Secured Debt 12026-06-300001396440Datacom, LLC | Secured Debt 22026-06-300001396440Datacom, LLC | Preferred Member Units2026-06-300001396440main:DatacomLLCMember2026-06-300001396440Digital Products Holdings LLC | Secured Debt2026-06-300001396440Digital Products Holdings LLC | Preferred Member Units2026-06-300001396440main:DigitalProductsHoldingsLLCMember2026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 12026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 22026-06-300001396440Direct Marketing Solutions, Inc. | Preferred Stock2026-06-300001396440main:DirectMarketingSolutionsIncMember2026-06-300001396440Doral Holdings, LLC | Secured Debt 12026-06-300001396440Doral Holdings, LLC | Secured Debt 22026-06-300001396440Doral Holdings, LLC | Preferred Equity2026-06-300001396440main:DoralHoldingsLLCMember2026-06-300001396440Elgin AcquireCo, LLC | Secured Debt 12026-06-300001396440Elgin AcquireCo, LLC | Secured Debt 22026-06-300001396440Elgin AcquireCo, LLC | Secured Debt 32026-06-300001396440Elgin AcquireCo, LLC | Common Stock 12026-06-300001396440Elgin AcquireCo, LLC | Common Stock 22026-06-300001396440main:ElginAcquireCoLLCMember2026-06-300001396440Flame King Holdings, LLC | Secured Debt2026-06-300001396440Flame King Holdings, LLC | Common Equity2026-06-300001396440Flame King Holdings, LLC | Preferred Equity2026-06-300001396440main:FlameKingHoldingsLLCMember2026-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 12026-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 22026-06-300001396440Gamber-Johnson Holdings, LLC | Member Units 12026-06-300001396440Gamber-Johnson Holdings, LLC | Member Units 22026-06-300001396440main:GamberJohnsonHoldingsLLCMember2026-06-300001396440Garreco, LLC | Member Units2026-06-300001396440GRT Rubber Technologies LLC | Secured Debt 12026-06-300001396440GRT Rubber Technologies LLC | Secured Debt 22026-06-300001396440GRT Rubber Technologies LLC | Member Units2026-06-300001396440main:GRTRubberTechnologiesLLCMember2026-06-300001396440Harris Preston Fund Investments | LP Interests (2717 MH, L.P.)2026-06-300001396440Harris Preston Fund Investments | LP Interests (2717 HPP-MS, L.P.)2026-06-300001396440Harris Preston Fund Investments | LP Interests (2717 GRE-LP, L.P.)2026-06-300001396440Harris Preston Fund Investments | LP Interests (423 COR, L.P.)2026-06-300001396440main:HarrisPrestonFundInvestmentsMember2026-06-300001396440Harrison Hydra-Gen, Ltd. | Common Stock2026-06-300001396440IG Investor, LLC | Secured Debt 12026-06-300001396440IG Investor, LLC | Secured Debt 22026-06-300001396440IG Investor, LLC | Common Equity2026-06-300001396440main:IGInvestorLLCMember2026-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 12026-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 22026-06-300001396440Jensen Jewelers of Idaho, LLC | Member Units2026-06-300001396440main:JensenJewelersOfIdahoLLCMember2026-06-300001396440JorVet Holdings, LLC | Secured Debt2026-06-300001396440JorVet Holdings, LLC | Preferred Equity2026-06-300001396440main:JorVetHoldingsLLCMember2026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 12026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 22026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 32026-06-300001396440JTI Electrical & Mechanical, LLC | Common Equity 12026-06-300001396440JTI Electrical & Mechanical, LLC | Common Equity 22026-06-300001396440main:JTIElectricalMechanicalLLCMember2026-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12026-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22026-06-300001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2026-06-300001396440Kickhaefer Manufacturing Company, LLC | Member Units2026-06-300001396440main:KickhaeferManufacturingCompanyLLCMember2026-06-300001396440Legacy Swim Group | Secured Debt 12026-06-300001396440Legacy Swim Group | Secured Debt 22026-06-300001396440Legacy Swim Group | Preferred Equity2026-06-300001396440main:LegacySwimGroupMember2026-06-300001396440Metalforming Holdings, LLC | Secured Debt 12026-06-300001396440Metalforming Holdings, LLC | Secured Debt 22026-06-300001396440Metalforming Holdings, LLC | Preferred Equity2026-06-300001396440Metalforming Holdings, LLC | Common Stock2026-06-300001396440main:MetalformingHoldingsLLCMember2026-06-300001396440Moffitt Holdings, LLC | Secured Debt2026-06-300001396440Moffitt Holdings, LLC | Preferred Equity2026-06-300001396440main:MoffittHoldingsLLCMember2026-06-300001396440MS Private Loan Fund I, LP | Secured Debt2026-06-300001396440MS Private Loan Fund I, LP | LP Interests2026-06-300001396440main:MSPrivateLoanFundILPMember2026-06-300001396440MS Private Loan Fund II, LP | Secured Debt2026-06-300001396440MS Private Loan Fund II, LP | LP Interests2026-06-300001396440main:MSPrivateLoanFundIILPMember2026-06-300001396440MSC Adviser I, LLC | Member Units2026-06-300001396440MSC Income Fund, Inc. | Secured Debt2026-06-300001396440MSC Income Fund, Inc. | Common Equity2026-06-300001396440main:MSCIncomeFundInc.Member2026-06-300001396440MVI MSO, LLC | Secured Debt2026-06-300001396440MVI MSO, LLC | Preferred Equity2026-06-300001396440main:MVIMSOLLCMember2026-06-300001396440NAPCO Precast, LLC | Member Units 12026-06-300001396440NAPCO Precast, LLC | Member Units 22026-06-300001396440main:NAPCOPrecastLLCMember2026-06-300001396440Nello Industries Investco, LLC | Secured Debt2026-06-300001396440Nello Industries Investco, LLC | Preferred Equity2026-06-300001396440main:NelloIndustriesInvestcoLLCMember2026-06-300001396440NexRev LLC | Preferred Member Units2026-06-300001396440NRP Jones, LLC | Secured Debt2026-06-300001396440NRP Jones, LLC | Preferred Equity2026-06-300001396440NRP Jones, LLC | Member Units 12026-06-300001396440NRP Jones, LLC | Member Units 22026-06-300001396440NRP Jones, LLC | Common Equity2026-06-300001396440main:NRPJonesLLCMember2026-06-300001396440NuStep, LLC | Secured Debt 12026-06-300001396440NuStep, LLC | Secured Debt 22026-06-300001396440NuStep, LLC | Preferred Member Units 12026-06-300001396440NuStep, LLC | Preferred Member Units 22026-06-300001396440main:NuStepLLCMember2026-06-300001396440OMi Topco, LLC | Secured Debt2026-06-300001396440OMi Topco, LLC | Preferred Member Units2026-06-300001396440main:OMiTopcoLLCMember2026-06-300001396440Orttech Holdings, LLC | Secured Debt 12026-06-300001396440Orttech Holdings, LLC | Secured Debt 22026-06-300001396440Orttech Holdings, LLC | Preferred Stock2026-06-300001396440main:OrttechHoldingsLLCMember2026-06-300001396440Pinnacle TopCo, LLC | Secured Debt 12026-06-300001396440Pinnacle TopCo, LLC | Secured Debt 22026-06-300001396440Pinnacle TopCo, LLC | Preferred Equity2026-06-300001396440main:PinnacleTopCoLLCMember2026-06-300001396440PPL RVs, Inc. | Secured Debt 12026-06-300001396440PPL RVs, Inc. | Secured Debt 22026-06-300001396440PPL RVs, Inc. | Common Stock 12026-06-300001396440PPL RVs, Inc. | Common Stock 22026-06-300001396440main:PPLRVsIncMember2026-06-300001396440Principle Environmental, LLC | Secured Debt2026-06-300001396440Principle Environmental, LLC | Preferred Member Units2026-06-300001396440Principle Environmental, LLC | Common Stock2026-06-300001396440main:PrincipleEnvironmentalLLCMember2026-06-300001396440Quality Lease Service, LLC | Member Units2026-06-300001396440River Aggregates, LLC | Member Units2026-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 12026-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 22026-06-300001396440Robbins Bros. Jewelry, Inc. | Preferred Equity2026-06-300001396440main:RobbinsBrosJewelryIncMember2026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 12026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 22026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 32026-06-300001396440Shift Transit ParentCo, LP | Preferred Equity2026-06-300001396440main:ShiftTransitParentCoLPMember2026-06-300001396440Spring Engineering Holdings, LLC | Secured Debt2026-06-300001396440Spring Engineering Holdings, LLC | Preferred Member Units2026-06-300001396440main:SpringEngineeringHoldingsLLCMember2026-06-300001396440Tedder Industries, LLC | Secured Debt 12026-06-300001396440Tedder Industries, LLC | Secured Debt 22026-06-300001396440Tedder Industries, LLC | Preferred Member Units 12026-06-300001396440Tedder Industries, LLC | Preferred Member Units 22026-06-300001396440Tedder Industries, LLC | Preferred Member Units 32026-06-300001396440main:TedderIndustriesLLCMember2026-06-300001396440Televerde, LLC | Preferred Stock2026-06-300001396440Televerde, LLC | Member Units2026-06-300001396440main:TeleverdeLLCMember2026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 12026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 22026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 32026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 42026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 52026-06-300001396440Trantech Radiator Topco, LLC | Common Stock2026-06-300001396440Trantech Radiator Topco, LLC | Common Equity2026-06-300001396440main:TrantechRadiatorTopcoLLCMember2026-06-300001396440Trinity Medical Holdings, LLC | Secured Debt 12026-06-300001396440Trinity Medical Holdings, LLC | Secured Debt 22026-06-300001396440Trinity Medical Holdings, LLC | Preferred Equity2026-06-300001396440main:TrinityMedicalHoldingsLLCMember2026-06-300001396440Victory Energy Operations, LLC | Secured Debt 12026-06-300001396440Victory Energy Operations, LLC | Secured Debt 22026-06-300001396440Victory Energy Operations, LLC | Preferred Equity2026-06-300001396440main:VictoryEnergyOperationsLLCMember2026-06-300001396440Volusion, LLC | Secured Debt2026-06-300001396440Volusion, LLC | Preferred Member Units 12026-06-300001396440Volusion, LLC | Preferred Member Units 22026-06-300001396440Volusion, LLC | Preferred Member Units 32026-06-300001396440Volusion, LLC | Common Stock2026-06-300001396440main:VolusionLLCMember2026-06-300001396440VVS Holdco LLC | Secured Debt 12026-06-300001396440VVS Holdco LLC | Secured Debt 22026-06-300001396440VVS Holdco LLC | Preferred Equity2026-06-300001396440main:VVSHoldcoLLCMember2026-06-300001396440Ziegler’s NYPD, LLC | Secured Debt 12026-06-300001396440Ziegler’s NYPD, LLC | Secured Debt 22026-06-300001396440Ziegler’s NYPD, LLC | Preferred Member Units2026-06-300001396440main:ZieglersNYPDLLCMember2026-06-300001396440AAC Holdings, Inc. | Secured Debt 12026-06-300001396440AAC Holdings, Inc. | Secured Debt 22026-06-300001396440AAC Holdings, Inc. | Secured Debt 32026-06-300001396440AAC Holdings, Inc. | Secured Debt 42026-06-300001396440AAC Holdings, Inc. | Secured Debt 52026-06-300001396440AAC Holdings, Inc. | Preferred Equity2026-06-300001396440AAC Holdings, Inc. | Common Stock2026-06-300001396440main:AACHoldingsIncMember2026-06-300001396440BLI Acquisition, LLC | Secured Debt2026-06-300001396440BLI Acquisition, LLC | Member Units2026-06-300001396440main:BLIAcquisitionLLCMember2026-06-300001396440Boccella Precast Products LLC | Secured Debt2026-06-300001396440Boccella Precast Products LLC | Member Units2026-06-300001396440main:BoccellaPrecastProductsLLCMember2026-06-300001396440Buca C, LLC | Secured Debt 12026-06-300001396440Buca C, LLC | Secured Debt 22026-06-300001396440Buca C, LLC | Secured Debt 32026-06-300001396440Buca C, LLC | Preferred Member Units2026-06-300001396440main:BucaCLLCMember2026-06-300001396440Career Team Holdings, LLC | Secured Debt 12026-06-300001396440Career Team Holdings, LLC | Secured Debt 22026-06-300001396440Career Team Holdings, LLC | Common Stock2026-06-300001396440main:CareerTeamHoldingsLLCMember2026-06-300001396440CenterPeak Holdings, LLC | Preferred Equity2026-06-300001396440CGMS Parent LLC | Secured Debt 12026-06-300001396440CGMS Parent LLC | Secured Debt 22026-06-300001396440CGMS Parent LLC | Preferred Equity2026-06-300001396440main:CGMSParentLLCMember2026-06-300001396440Classic H&G Holdings, LLC | Preferred Member Units2026-06-300001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2026-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2026-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2026-06-300001396440main:ConnectTelecommunicationsSolutionsHoldingsInc.Member2026-06-300001396440DMA Industries, LLC | Secured Debt 12026-06-300001396440DMA Industries, LLC | Secured Debt 22026-06-300001396440DMA Industries, LLC | Preferred Equity 12026-06-300001396440DMA Industries, LLC | Preferred Equity 22026-06-300001396440main:DMAIndustriesLLCMember2026-06-300001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2026-06-300001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2026-06-300001396440main:DosRiosPartnersMember2026-06-300001396440Dos Rios Stone Products LLC | Class A Preferred Units2026-06-300001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2026-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt 12026-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt 22026-06-300001396440FCC Intermediate Holdco, LLC | Warrants2026-06-300001396440main:FCCIntermediateHoldcoLLCMember2026-06-300001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2026-06-300001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2026-06-300001396440main:FreeportFinancialFundsMember2026-06-300001396440FRG AcquireCo, LLC | Secured Debt 12026-06-300001396440FRG AcquireCo, LLC | Secured Debt 22026-06-300001396440FRG AcquireCo, LLC | Preferred Equity2026-06-300001396440main:FRGAcquireCoLLCMember2026-06-300001396440GFG Group, LLC | Secured Debt2026-06-300001396440GFG Group, LLC | Preferred Member Units2026-06-300001396440main:GFGGroupLLCMember2026-06-300001396440Gulf Manufacturing, LLC | Secured Debt 12026-06-300001396440Gulf Manufacturing, LLC | Secured Debt 22026-06-300001396440Gulf Manufacturing, LLC | Preferred Equity2026-06-300001396440Gulf Manufacturing, LLC | Member Units2026-06-300001396440Gulf Manufacturing, LLC | Common Stock2026-06-300001396440main:GulfManufacturingLLCMember2026-06-300001396440Harris Preston Fund Investments | LP Interests (HPEP 3, L.P.)2026-06-300001396440Harris Preston Fund Investments | LP Interests (HPEP 4, L.P.)2026-06-300001396440Harris Preston Fund Investments | LP Interests (423 HAR, L.P.)2026-06-300001396440main:HarrisPrestonFundInvestmentsOneMember2026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 12026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 22026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 32026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 42026-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 12026-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 22026-06-300001396440main:HawkRidgeSystemsLLCMember2026-06-300001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2026-06-300001396440Houston Plating and Coatings, LLC | Member Units2026-06-300001396440main:HoustonPlatingAndCoatingsLLCMember2026-06-300001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2026-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 12026-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 22026-06-300001396440Infinity X1 Holdings, LLC | Preferred Equity2026-06-300001396440main:InfinityX1HoldingsLLCMember2026-06-300001396440Integral Energy Services | Secured Debt2026-06-300001396440Integral Energy Services | Preferred Equity 12026-06-300001396440Integral Energy Services | Preferred Equity 22026-06-300001396440Integral Energy Services | Common Stock2026-06-300001396440main:IntegralEnergyServicesMember2026-06-300001396440Iron-Main Investments, LLC | Secured Debt 12026-06-300001396440Iron-Main Investments, LLC | Secured Debt 22026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 12026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 22026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 32026-06-300001396440Iron-Main Investments, LLC | Common Stock2026-06-300001396440main:IronMainInvestmentsLLCMember2026-06-300001396440ITA Holdings Group, LLC | Secured Debt 12026-06-300001396440ITA Holdings Group, LLC | Secured Debt 22026-06-300001396440ITA Holdings Group, LLC | Secured Debt 32026-06-300001396440ITA Holdings Group, LLC | Secured Debt 42026-06-300001396440ITA Holdings Group, LLC | Secured Debt 52026-06-300001396440ITA Holdings Group, LLC | Secured Debt 62026-06-300001396440ITA Holdings Group, LLC | Warrants2026-06-300001396440main:ITAHoldingsGroupLLCMember2026-06-300001396440Kennedy Fab HoldCo, LLC | Preferred Equity2026-06-300001396440main:KennedyFabHoldCoLLCMember2026-06-300001396440KMS, LLC | Secured Debt 12026-06-300001396440KMS, LLC | Secured Debt 22026-06-300001396440KMS, LLC | Secured Debt 32026-06-300001396440KMS, LLC | Preferred Equity2026-06-300001396440main:KMSLLCMember2026-06-300001396440Mills Fleet Farm Group, LLC | Secured Debt 12026-06-300001396440Mills Fleet Farm Group, LLC | Secured Debt 22026-06-300001396440Mills Fleet Farm Group, LLC | Preferred Equity2026-06-300001396440main:MillsFleetFarmGroupLLCMember2026-06-300001396440MoneyThumb Acquisition, LLC | Secured Debt2026-06-300001396440MoneyThumb Acquisition, LLC | Preferred Member Units2026-06-300001396440MoneyThumb Acquisition, LLC | Warrants2026-06-300001396440main:MoneyThumbAcquisitionLLCMember2026-06-300001396440Nearshore AcquireCo, LLC | Secured Debt 12026-06-300001396440Nearshore AcquireCo, LLC | Secured Debt 22026-06-300001396440Nearshore AcquireCo, LLC | Secured Debt 32026-06-300001396440Nearshore AcquireCo, LLC | Preferred Equity2026-06-300001396440main:NearshoreAcquireCoLLCMember2026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 12026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 22026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 32026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 42026-06-300001396440OnAsset Intelligence, Inc. | Unsecured Debt2026-06-300001396440OnAsset Intelligence, Inc. | Preferred Stock2026-06-300001396440OnAsset Intelligence, Inc. | Common Stock2026-06-300001396440OnAsset Intelligence, Inc. | Warrants2026-06-300001396440main:OnAssetIntelligenceIncMember2026-06-300001396440Oneliance, LLC | Preferred Stock2026-06-300001396440RA Outdoors LLC | Secured Debt 12026-06-300001396440RA Outdoors LLC | Secured Debt 22026-06-300001396440RA Outdoors LLC | Secured Debt 32026-06-300001396440RA Outdoors LLC | Secured Debt 42026-06-300001396440RA Outdoors LLC | Common Equity2026-06-300001396440main:RAOutdoorsLLCMember2026-06-300001396440Revenue Recovery Holdings, LLC | Secured Debt 12026-06-300001396440Revenue Recovery Holdings, LLC | Secured Debt 22026-06-300001396440Revenue Recovery Holdings, LLC | Preferred Equity2026-06-300001396440main:RevenueRecoveryHoldingsLLCMember2026-06-300001396440RFG AcquireCo, LLC | Secured Debt 12026-06-300001396440RFG AcquireCo, LLC | Secured Debt 22026-06-300001396440RFG AcquireCo, LLC | Secured Debt 32026-06-300001396440RFG AcquireCo, LLC | Preferred Equity2026-06-300001396440main:RFGAcquireCoLLCMember2026-06-300001396440SI East, LLC | Secured Debt 12026-06-300001396440SI East, LLC | Secured Debt 22026-06-300001396440SI East, LLC | Preferred Member Units2026-06-300001396440main:SIEastLLCMember2026-06-300001396440Slick Innovations, LLC | Secured Debt2026-06-300001396440Slick Innovations, LLC | Common Stock2026-06-300001396440main:SlickInnovationsLLCMember2026-06-300001396440Specialized Aviation Holdings, LLC | Secured Debt2026-06-300001396440Specialized Aviation Holdings, LLC | Preferred Stock2026-06-300001396440main:SpecializedAviationHoldingsLLCMember2026-06-300001396440Student Resource Center, LLC | Secured Debt 12026-06-300001396440Student Resource Center, LLC | Secured Debt 22026-06-300001396440Student Resource Center, LLC | Preferred Equity2026-06-300001396440main:StudentResourceCenterLLCMember2026-06-300001396440Superior Rigging & Erecting Co. | Preferred Member Units2026-06-300001396440The Affiliati Network, LLC | Preferred Stock 12026-06-300001396440The Affiliati Network, LLC | Preferred Stock 22026-06-300001396440main:TheAffiliatiNetworkLLCMember2026-06-300001396440UnionRock Energy Fund II, LP | LP Interests2026-06-300001396440UnionRock Energy Fund III, LP | LP Interests2026-06-300001396440UniTek Global Services, Inc. | Preferred Stock 12026-06-300001396440UniTek Global Services, Inc. | Preferred Stock 22026-06-300001396440UniTek Global Services, Inc. | Preferred Stock 32026-06-300001396440UniTek Global Services, Inc. | Common Stock2026-06-300001396440main:UniTekGlobalServicesIncMember2026-06-300001396440Urgent DSO LLC | Secured Debt2026-06-300001396440Urgent DSO LLC | Preferred Equity2026-06-300001396440main:UrgentDSOLLCMember2026-06-300001396440Wildcats Topco LLC | Common Equity2026-06-300001396440World Micro Holdings, LLC | Secured Debt2026-06-300001396440World Micro Holdings, LLC | Preferred Equity2026-06-300001396440main:WorldMicroHoldingsLLCMember2026-06-300001396440Adams Publishing Group, LLC | Secured Debt 12026-06-300001396440Adams Publishing Group, LLC | Secured Debt 22026-06-300001396440Adams Publishing Group, LLC | Secured Debt 32026-06-300001396440main:AdamsPublishingGroupLLCMember2026-06-300001396440AGS American Glass Services Acquisition, LLC | Secured Debt 12026-06-300001396440AGS American Glass Services Acquisition, LLC | Secured Debt 22026-06-300001396440AGS American Glass Services Acquisition, LLC | Secured Debt 32026-06-300001396440AGS American Glass Services Acquisition, LLC | Preferred Equity2026-06-300001396440main:AGSAmericanGlassServicesAcquisitionLLCMember2026-06-300001396440Airo Purchaser, Inc. | Secured Debt 12026-06-300001396440Airo Purchaser, Inc. | Secured Debt 22026-06-300001396440Airo Purchaser, Inc. | Secured Debt 32026-06-300001396440Airo Purchaser, Inc. | Common Equity2026-06-300001396440main:AiroPurchaserInc.Member2026-06-300001396440AMEREQUIP LLC | Common Stock2026-06-300001396440American Health Staffing Group, Inc. | Secured Debt 12026-06-300001396440American Health Staffing Group, Inc. | Secured Debt 22026-06-300001396440main:AmericanHealthStaffingGroupIncMember2026-06-300001396440ArborWorks, LLC | Secured Debt 12026-06-300001396440ArborWorks, LLC | Secured Debt 22026-06-300001396440ArborWorks, LLC | Preferred Equity 12026-06-300001396440ArborWorks, LLC | Preferred Equity 22026-06-300001396440ArborWorks, LLC | Common Equity2026-06-300001396440main:ArborWorksLLCMember2026-06-300001396440Archer Systems, LLC | Common Stock2026-06-300001396440ATS Operating, LLC | Secured Debt 12026-06-300001396440ATS Operating, LLC | Secured Debt 22026-06-300001396440ATS Operating, LLC | Secured Debt 32026-06-300001396440ATS Operating, LLC | Common Stock2026-06-300001396440main:ATSOperatingLLCMember2026-06-300001396440Auria Space, LLC | Secured Debt 12026-06-300001396440Auria Space, LLC | Secured Debt 22026-06-300001396440Auria Space, LLC | Secured Debt 32026-06-300001396440Auria Space, LLC | Member Units2026-06-300001396440main:AuriaSpaceLLCMember2026-06-300001396440AVEX Aviation Holdings, LLC | Secured Debt 12026-06-300001396440AVEX Aviation Holdings, LLC | Secured Debt 22026-06-300001396440AVEX Aviation Holdings, LLC | Secured Debt 32026-06-300001396440AVEX Aviation Holdings, LLC | Common Equity2026-06-300001396440main:AVEXAviationHoldingsLLCMember2026-06-300001396440Behavior Development Group Holdings | Secured Debt 12026-06-300001396440Behavior Development Group Holdings | Secured Debt 22026-06-300001396440Behavior Development Group Holdings | Common Equity2026-06-300001396440main:BehaviorDevelopmentGroupHoldingsMember2026-06-300001396440Berry Aviation, Inc. | Preferred Member Units 12026-06-300001396440Berry Aviation, Inc. | Preferred Member Units 22026-06-300001396440Berry Aviation, Inc. | Preferred Member Units 32026-06-300001396440main:BerryAviationIncMember2026-06-300001396440Bluestem Brands, Inc. | Secured Debt 12026-06-300001396440Bluestem Brands, Inc. | Secured Debt 22026-06-300001396440Bluestem Brands, Inc. | Secured Debt 32026-06-300001396440Bluestem Brands, Inc. | Common Stock2026-06-300001396440Bluestem Brands, Inc. | Warrants2026-06-300001396440main:BluestemBrandsIncMember2026-06-300001396440B-O-F Corporation | Secured Debt 12026-06-300001396440B-O-F Corporation | Secured Debt 22026-06-300001396440B-O-F Corporation | Secured Debt 32026-06-300001396440B-O-F Corporation | Common Equity2026-06-300001396440main:BOFCorporationMember2026-06-300001396440Bond Brand Loyalty ULC | Secured Debt 12026-06-300001396440Bond Brand Loyalty ULC | Secured Debt 22026-06-300001396440Bond Brand Loyalty ULC | Secured Debt 32026-06-300001396440Bond Brand Loyalty ULC | Secured Debt 42026-06-300001396440Bond Brand Loyalty ULC | Preferred Equity2026-06-300001396440Bond Brand Loyalty ULC | Common Equity2026-06-300001396440main:BondBrandLoyaltyULCMember2026-06-300001396440Brainworks Software, LLC | Secured Debt 12026-06-300001396440Brainworks Software, LLC | Secured Debt 22026-06-300001396440main:BrainworksSoftwareLLCMember2026-06-300001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund III, LP)2026-06-300001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund IV, LP)2026-06-300001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund V, LP)2026-06-300001396440main:BrightwoodCapitalFundInvestmentsMember2026-06-300001396440Channel Partners Intermediateco, LLC | Secured Debt 12026-06-300001396440Channel Partners Intermediateco, LLC | Secured Debt 22026-06-300001396440Channel Partners Intermediateco, LLC | Secured Debt 32026-06-300001396440Channel Partners Intermediateco, LLC | Secured Debt 42026-06-300001396440Channel Partners Intermediateco, LLC | Secured Debt 52026-06-300001396440main:ChannelPartnersIntermediatecoLLCMember2026-06-300001396440Clarius BIGS, LLC | Secured Debt2026-06-300001396440Computer Data Source, LLC | Secured Debt 12026-06-300001396440Computer Data Source, LLC | Secured Debt 22026-06-300001396440Computer Data Source, LLC | Secured Debt 32026-06-300001396440main:ComputerDataSourceLLCMember2026-06-300001396440Core Transformers | Secured Debt 12026-06-300001396440Core Transformers | Secured Debt 22026-06-300001396440Core Transformers | Secured Debt 32026-06-300001396440Core Transformers | Common Equity2026-06-300001396440main:CoreTransformersMember2026-06-300001396440Coregistics Buyer LLC | Secured Debt 12026-06-300001396440Coregistics Buyer LLC | Secured Debt 22026-06-300001396440Coregistics Buyer LLC | Secured Debt 32026-06-300001396440Coregistics Buyer LLC | Secured Debt 42026-06-300001396440main:CoregisticsBuyerLLCMember2026-06-300001396440CoreStack, Inc. | Secured Debt 12026-06-300001396440CoreStack, Inc. | Secured Debt 22026-06-300001396440main:CoreStackInc.Member2026-06-300001396440CQ Fluency, LLC | Secured Debt 12026-06-300001396440CQ Fluency, LLC | Secured Debt 22026-06-300001396440main:CQFluencyLLCMember2026-06-300001396440CRC Evans USA Bidco, Inc. | Secured Debt 12026-06-300001396440CRC Evans USA Bidco, Inc. | Secured Debt 22026-06-300001396440CRC Evans USA Bidco, Inc. | Secured Debt 32026-06-300001396440CRC Evans USA Bidco, Inc. | Secured Debt 42026-06-300001396440main:CRCEvansUSABidcoInc.Member2026-06-300001396440Creative Foam Corporation | Secured Debt 12026-06-300001396440Creative Foam Corporation | Secured Debt 22026-06-300001396440Creative Foam Corporation | Secured Debt 32026-06-300001396440Creative Foam Corporation | Common Equity2026-06-300001396440main:CreativeFoamCorporationMember2026-06-300001396440Dalton US Inc. | Common Stock2026-06-300001396440Dynamic Communities, LLC | Secured Debt 12026-06-300001396440Dynamic Communities, LLC | Secured Debt 22026-06-300001396440Dynamic Communities, LLC | Preferred Equity 12026-06-300001396440Dynamic Communities, LLC | Preferred Equity 22026-06-300001396440Dynamic Communities, LLC | Common Equity2026-06-300001396440main:DynamicCommunitiesLLCMember2026-06-300001396440Electro Technical Industries, LLC | Secured Debt 12026-06-300001396440Electro Technical Industries, LLC | Secured Debt 22026-06-300001396440Electro Technical Industries, LLC | Common Equity2026-06-300001396440main:ElectroTechnicalIndustriesLLCMember2026-06-300001396440Emerald Technologies Acquisition Co, Inc. | Secured Debt2026-06-300001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund VIII, L.P.)2026-06-300001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund IX, L.P.)2026-06-300001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund X, L.P.)2026-06-300001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund XII, L.P.)2026-06-300001396440EnCap Energy Fund Investments. | LP Interests (EnCap Flatrock Midstream Fund II, L.P.)2026-06-300001396440EnCap Energy Fund Investments. | LP Interests (EnCap Flatrock Midstream Fund III, L.P.)2026-06-300001396440main:EnCapEnergyFundInvestmentsMember2026-06-300001396440Escalent, Inc. | Secured Debt 12026-06-300001396440Escalent, Inc. | Secured Debt 22026-06-300001396440Escalent, Inc. | Secured Debt 32026-06-300001396440Escalent, Inc. | Common Equity2026-06-300001396440main:EscalentIncMember2026-06-300001396440Event Holdco, LLC. | Secured Debt 12026-06-300001396440Event Holdco, LLC. | Secured Debt 22026-06-300001396440main:EventHoldcoLLCMember2026-06-300001396440EWMW LP | Secured Debt2026-06-300001396440Fuse, LLC. | Secured Debt 2026-06-300001396440Fuse, LLC. | Common Stock2026-06-300001396440main:FuseLLCMember2026-06-300001396440Garyline, LLC. | Secured Debt 12026-06-300001396440Garyline, LLC. | Secured Debt 22026-06-300001396440Garyline, LLC., Common Equity2026-06-300001396440main:GarylineLLCMember2026-06-300001396440GradeEight Corp. | Secured Debt 12026-06-300001396440GradeEight Corp. | Secured Debt 22026-06-300001396440GradeEight Corp. | Secured Debt 32026-06-300001396440GradeEight Corp. | Common Equity2026-06-300001396440main:GradeEightCorp.Member2026-06-300001396440GS HVAM Intermediate, LLC | Secured Debt 12026-06-300001396440GS HVAM Intermediate, LLC | Secured Debt 22026-06-300001396440GS HVAM Intermediate, LLC | Secured Debt 32026-06-300001396440GS HVAM Intermediate, LLC | Secured Debt 42026-06-300001396440GS HVAM Intermediate, LLC | Secured Debt 52026-06-300001396440main:GSHVAMIntermediateLLCMember2026-06-300001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 12026-06-300001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 22026-06-300001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 32026-06-300001396440main:GULFPACIFICACQUISITIONLLCMember2026-06-300001396440Harris Preston Fund Investments | LP Interests (423 AER II, LP)2026-06-300001396440Harris Preston Fund Investments | LP Interests (HPEP 5, L.P.)2026-06-300001396440main:HarrisPrestonFundInvestmentsTwoMember2026-06-300001396440HDC/HW Intermediate Holdings | Secured Debt 12026-06-300001396440HDC/HW Intermediate Holdings | Secured Debt 22026-06-300001396440HDC/HW Intermediate Holdings | Common Equity2026-06-300001396440main:HDCHWIntermediateHoldingsMember2026-06-300001396440Hornblower Sub, LLC | Secured Debt 12026-06-300001396440Hornblower Sub, LLC | Secured Debt 22026-06-300001396440main:HornblowerSubLLCMember2026-06-300001396440Horwitz Holdings, LLC | Secured Debt 12026-06-300001396440Horwitz Holdings, LLC | Secured Debt 22026-06-300001396440Horwitz Holdings, LLC | Secured Debt 32026-06-300001396440main:HorwitzHoldingsLLCMember2026-06-300001396440HOWLCO LLC | Secured Debt2026-06-300001396440Hybrid Promotions, LLC | Secured Debt2026-06-300001396440IG Parent Corporation | Secured Debt 12026-06-300001396440IG Parent Corporation | Secured Debt 22026-06-300001396440IG Parent Corporation | Secured Debt 32026-06-300001396440main:IGParentCorporationMember2026-06-300001396440Ignite Visibility LLC | Secured Debt 12026-06-300001396440Ignite Visibility LLC | Secured Debt 22026-06-300001396440main:IgniteVisibilityLLCMember2026-06-300001396440Imaging Business Machines, L.L.C. | Common Equity2026-06-300001396440Implus Footcare, LLC | Secured Debt 12026-06-300001396440Implus Footcare, LLC | Secured Debt 22026-06-300001396440Implus Footcare, LLC | Common Equity2026-06-300001396440main:ImplusFootcareLLCMember2026-06-300001396440Insight Borrower Corporation | Secured Debt 12026-06-300001396440Insight Borrower Corporation | Secured Debt 22026-06-300001396440Insight Borrower Corporation | Common Equity2026-06-300001396440main:InsightBorrowerCorporationMember2026-06-300001396440Inspire Aesthetics Management, LLC | Secured Debt 12026-06-300001396440Inspire Aesthetics Management, LLC | Secured Debt 22026-06-300001396440Inspire Aesthetics Management, LLC | Secured Debt 32026-06-300001396440Inspire Aesthetics Management, LLC | Secured Debt 42026-06-300001396440Inspire Aesthetics Management, LLC | Common Equity2026-06-300001396440main:InspireAestheticsManagementLLCMember2026-06-300001396440Interface Security Systems, L.L.C | Secured Debt 12026-06-300001396440Interface Security Systems, L.L.C | Secured Debt 22026-06-300001396440Interface Security Systems, L.L.C | Common Stock2026-06-300001396440main:InterfaceSecuritySystemsLLCMember2026-06-300001396440Invincible Boat Company, LLC. | Secured Debt 12026-06-300001396440Invincible Boat Company, LLC. | Secured Debt 22026-06-300001396440main:InvincibleBoatCompanyLLCMember2026-06-300001396440Isagenix International, LLC | Secured Debt2026-06-300001396440Isagenix International, LLC | Common Equity2026-06-300001396440main:IsagenixInternationalLLCMember2026-06-300001396440Island Pump and Tank, LLC | Secured Debt 12026-06-300001396440Island Pump and Tank, LLC | Secured Debt 22026-06-300001396440Island Pump and Tank, LLC | Secured Debt 32026-06-300001396440Island Pump and Tank, LLC | Secured Debt 42026-06-300001396440main:IslandPumpAndTankLLCMember2026-06-300001396440Jackmont Hospitality, Inc. | Secured Debt 12026-06-300001396440Jackmont Hospitality, Inc. | Secured Debt 22026-06-300001396440Jackmont Hospitality, Inc. | Secured Debt 32026-06-300001396440Jackmont Hospitality, Inc. | Secured Debt 42026-06-300001396440Jackmont Hospitality, Inc. | Preferred Equity2026-06-300001396440main:JackmontHospitalityIncMember2026-06-300001396440Joerns Healthcare, LLC | Secured Debt 12026-06-300001396440Joerns Healthcare, LLC | Secured Debt 22026-06-300001396440Joerns Healthcare, LLC | Common Stock2026-06-300001396440main:JoernsHealthcareLLCMember2026-06-300001396440LBCT Topco LP | Common Equity2026-06-300001396440LKCM Headwater Investments | LP Interests (LKCM Headwater Investments I, L.P.)2026-06-300001396440LKCM Headwater Investments | LP Interests (LKCM Headwater CV I Minerals, L.P.)2026-06-300001396440main:LKCMHeadwaterInvestmentsMember2026-06-300001396440LLFlex, LLC | Secured Debt2026-06-300001396440Logix Acquisition Company, LLC | Secured Debt 12026-06-300001396440Logix Acquisition Company, LLC | Secured Debt 22026-06-300001396440main:LogixAcquisitionCompanyLLCMember2026-06-300001396440Looking Glass Investments, LLC | Member Units2026-06-300001396440MCT Purchaserco Holding Inc. | Secured Debt 12026-06-300001396440MCT Purchaserco Holding Inc. | Secured Debt 22026-06-300001396440MCT Purchaserco Holding Inc. | Common Equity2026-06-300001396440main:MCTPurchasercoHoldingInc.Member2026-06-300001396440Microbe Formulas, LLC | Secured Debt 12026-06-300001396440Microbe Formulas, LLC | Secured Debt 22026-06-300001396440Microbe Formulas, LLC | Secured Debt 32026-06-300001396440main:MicrobeFormulasLLCMember2026-06-300001396440Mini Melts of America, LLC | Secured Debt 12026-06-300001396440Mini Melts of America, LLC | Secured Debt 22026-06-300001396440Mini Melts of America, LLC | Secured Debt 32026-06-300001396440Mini Melts of America, LLC | Secured Debt 42026-06-300001396440Mini Melts of America, LLC | Common Equity2026-06-300001396440main:MiniMeltsOfAmericaLLCMember2026-06-300001396440Mission Critical Group | Secured Debt 12026-06-300001396440Mission Critical Group | Secured Debt 22026-06-300001396440Mission Critical Group | Secured Debt 32026-06-300001396440Mission Critical Group | Common Equity2026-06-300001396440main:MissionCriticalGroupMember2026-06-300001396440MonitorUS Holding, LLC | Secured Debt 12026-06-300001396440MonitorUS Holding, LLC | Secured Debt 22026-06-300001396440MonitorUS Holding, LLC | Secured Debt 32026-06-300001396440MonitorUS Holding, LLC | Secured Debt 42026-06-300001396440MonitorUS Holding, LLC | Common Stock2026-06-300001396440main:MonitorUSHoldingLLCMember2026-06-300001396440Obra Capital, Inc. | Secured Debt 12026-06-300001396440Obra Capital, Inc. | Secured Debt 22026-06-300001396440Obra Capital, Inc. | Secured Debt 32026-06-300001396440main:ObraCapitalInc.Member2026-06-300001396440OnPoint Industrial Services, LLC | Secured Debt 12026-06-300001396440OnPoint Industrial Services, LLC | Secured Debt 22026-06-300001396440main:OnPointIndustrialServicesLLCMember2026-06-300001396440Ospemifene Royalty Sub LLC | Secured Debt2026-06-300001396440PavCon LLC | Secured Debt 12026-06-300001396440PavCon LLC | Secured Debt 22026-06-300001396440PavCon LLC | Secured Debt 32026-06-300001396440main:PavConLLCMember2026-06-300001396440Peaches Holding Corporation | Common Equity2026-06-300001396440PrimeFlight Aviation Services | Secured Debt 12026-06-300001396440PrimeFlight Aviation Services | Secured Debt 22026-06-300001396440PrimeFlight Aviation Services | Secured Debt 32026-06-300001396440PrimeFlight Aviation Services | Secured Debt 42026-06-300001396440PrimeFlight Aviation Services | Secured Debt 52026-06-300001396440PrimeFlight Aviation Services | Secured Debt 62026-06-300001396440PrimeFlight Aviation Services | Secured Debt 72026-06-300001396440PrimeFlight Aviation Services | Secured Debt 82026-06-300001396440main:PrimeFlightAviationServicesMember2026-06-300001396440Pro-Max Restoration & Paint, LLC | Secured Debt 12026-06-300001396440Pro-Max Restoration & Paint, LLC | Secured Debt 22026-06-300001396440Pro-Max Restoration & Paint, LLC | Common Equity2026-06-300001396440main:ProMaxRestorationPaintLLCMember2026-06-300001396440Richardson Sales Solutions | Secured Debt 12026-06-300001396440Richardson Sales Solutions | Secured Debt 22026-06-300001396440Richardson Sales Solutions | Secured Debt 32026-06-300001396440main:RichardsonSalesSolutionsMember2026-06-300001396440Roof Opco, LLC | Secured Debt 12026-06-300001396440Roof Opco, LLC | Secured Debt 22026-06-300001396440Roof Opco, LLC | Secured Debt 32026-06-300001396440main:RoofOpcoLLCMember2026-06-300001396440Royal Cup Inc. | Preferred Equity2026-06-300001396440Rug Doctor, LLC. | Secured Debt 12026-06-300001396440Rug Doctor, LLC. | Secured Debt 22026-06-300001396440main:RugDoctorLLCMember2026-06-300001396440South Coast Terminals Holdings, LLC | Secured Debt 12026-06-300001396440South Coast Terminals Holdings, LLC | Secured Debt 22026-06-300001396440South Coast Terminals Holdings, LLC | Secured Debt 32026-06-300001396440South Coast Terminals Holdings, LLC | Common Equity2026-06-300001396440main:SouthCoastTerminalsHoldingsLLCMember2026-06-300001396440SPAU Holdings, LLC | Secured Debt 12026-06-300001396440SPAU Holdings, LLC | Secured Debt 22026-06-300001396440SPAU Holdings, LLC | Common Stock2026-06-300001396440main:SPAUHoldingsLLCMember2026-06-300001396440TEC Services, LLC | Secured Debt 12026-06-300001396440TEC Services, LLC | Secured Debt 22026-06-300001396440TEC Services, LLC | Secured Debt 32026-06-300001396440main:TECServicesLLCMember2026-06-300001396440Tectonic Financial, LLC | Common Stock2026-06-300001396440Tex Tech Tennis, LLC | Preferred Equity2026-06-300001396440Titan Meter Midco Corp. | Secured Debt 12026-06-300001396440Titan Meter Midco Corp. | Secured Debt 22026-06-300001396440Titan Meter Midco Corp. | Secured Debt 32026-06-300001396440Titan Meter Midco Corp. | Secured Debt 42026-06-300001396440Titan Meter Midco Corp. | Preferred Equity2026-06-300001396440main:TitanMeterMidcoCorp.Member2026-06-300001396440U.S. TelePacific Corp. | Secured Debt 12026-06-300001396440U.S. TelePacific Corp. | Secured Debt 22026-06-300001396440U.S. TelePacific Corp. | Secured Debt 32026-06-300001396440main:USTelePacificCorpMember2026-06-300001396440UBM AcquireCo LLC | Secured Debt 12026-06-300001396440UBM AcquireCo LLC | Secured Debt 22026-06-300001396440UBM AcquireCo LLC | Secured Debt 32026-06-300001396440UBM AcquireCo LLC | Common Equity2026-06-300001396440main:UBMAcquireCoLLCMember2026-06-300001396440UPS Intermediate, LLC | Secured Debt 12026-06-300001396440UPS Intermediate, LLC | Secured Debt 22026-06-300001396440UPS Intermediate, LLC | Secured Debt 32026-06-300001396440UPS Intermediate, LLC | Common Equity2026-06-300001396440main:UPSIntermediateLLCMember2026-06-300001396440UserZoom Technologies, Inc. | Secured Debt 12026-06-300001396440UserZoom Technologies, Inc. | Secured Debt 22026-06-300001396440main:UserZoomTechnologiesInc.Member2026-06-300001396440Vitesse Systems | Secured Debt 12026-06-300001396440Vitesse Systems | Secured Debt 22026-06-300001396440Vitesse Systems | Secured Debt 32026-06-300001396440main:VitesseSystemsMember2026-06-300001396440VORTEQ Coil Finishers, LLC | Common Equity2026-06-300001396440Wash & Wax Systems LLC | Secured Debt 12026-06-300001396440Wash & Wax Systems LLC | Secured Debt 22026-06-300001396440Wash & Wax Systems LLC | Secured Debt 32026-06-300001396440Wash & Wax Systems LLC | Common Equity2026-06-300001396440main:WashWaxSystemsLLCMember2026-06-300001396440Watterson Brands, LLC | Secured Debt 12026-06-300001396440Watterson Brands, LLC | Secured Debt 22026-06-300001396440Watterson Brands, LLC | Common Shares2026-06-300001396440Watterson Brands, LLC | Preferred Stock2026-06-300001396440main:WattersonBrandsLLCMember2026-06-300001396440Winter Services LLC | Secured Debt 12026-06-300001396440Winter Services LLC | Secured Debt 22026-06-300001396440Winter Services LLC | Secured Debt 32026-06-300001396440Winter Services LLC | Secured Debt 42026-06-300001396440main:WinterServicesLLCMember2026-06-300001396440Xenon Arc, Inc. | Secured Debt 12026-06-300001396440Xenon Arc, Inc. | Secured Debt 22026-06-300001396440Xenon Arc, Inc. | Secured Debt 32026-06-300001396440main:XenonArcIncMember2026-06-300001396440YS Garments, LLC | Secured Debt2026-06-300001396440ZRG Partners, LLC | Secured Debt 12026-06-300001396440ZRG Partners, LLC | Secured Debt 22026-06-300001396440ZRG Partners, LLC | Secured Debt 32026-06-300001396440ZRG Partners, LLC | Secured Debt 42026-06-300001396440ZRG Partners, LLC | Secured Debt 52026-06-300001396440main:ZRGPartnersLLCMember2026-06-300001396440Dreyfus Government Cash Management2026-06-300001396440Fidelity Government Fund2026-06-300001396440Fidelity Treasury2026-06-300001396440us-gaap:MoneyMarketFundsMember2026-06-300001396440us-gaap:SecuredOvernightFinancingRateSofrMembersrt:MinimumMember2026-06-300001396440us-gaap:SecuredOvernightFinancingRateSofrMembersrt:MaximumMember2026-06-300001396440us-gaap:SecuredOvernightFinancingRateSofrMembersrt:WeightedAverageMember2026-06-300001396440Bolder Panther Group, LLC | Secured Debt 2srt:MinimumMember2026-06-300001396440srt:MinimumMember2026-06-300001396440srt:MaximumMember2026-06-300001396440American Nuts, LLC | Secured Debt 12025-12-310001396440American Nuts, LLC | Secured Debt 22025-12-310001396440American Nuts, LLC | Preferred Equity2025-12-310001396440main:AmericanNutsLLCMember2025-12-310001396440Analytical Systems Keco Holdings, LLC | Secured Debt2025-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 12025-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 22025-12-310001396440Analytical Systems Keco Holdings, LLC | Warrants2025-12-310001396440main:AnalyticalSystemsKecoHoldingsLLCMember2025-12-310001396440ASC Interests, LLC | Secured Debt 12025-12-310001396440ASC Interests, LLC | Secured Debt 22025-12-310001396440ASC Interests, LLC | Preferred Member Units2025-12-310001396440ASC Interests, LLC | Member Units2025-12-310001396440main:ASCInterestsLLCMember2025-12-310001396440Batjer TopCo, LLC | Secured Debt 12025-12-310001396440Batjer TopCo, LLC | Secured Debt 22025-12-310001396440Batjer TopCo, LLC | Secured Debt 32025-12-310001396440Batjer TopCo, LLC | Preferred Stock2025-12-310001396440main:BatjerTopCoLLCMember2025-12-310001396440BDB Holdings, LLC | Secured Debt2025-12-310001396440BDB Holdings, LLC | Preferred Equity2025-12-310001396440main:BDBHoldingsLLCMember2025-12-310001396440Bettercloud, Inc. | Secured Debt2025-12-310001396440Bettercloud, Inc. | Common Equity2025-12-310001396440main:BettercloudIncMember2025-12-310001396440Bolder Panther Group, LLC | Secured Debt2025-12-310001396440Bolder Panther Group, LLC | Class B Preferred Member Units2025-12-310001396440main:BolderPantherGroupLLCMember2025-12-310001396440Brewer Crane Holdings, LLC | Secured Debt2025-12-310001396440Brewer Crane Holdings, LLC | Preferred Member Units 12025-12-310001396440Brewer Crane Holdings, LLC | Preferred Member Units 22025-12-310001396440main:BrewerCraneHoldingsLLCMember2025-12-310001396440Bridge Capital Solutions Corporation | Preferred Member Units2025-12-310001396440Bridge Capital Solutions Corporation | Warrants2025-12-310001396440main:BridgeCapitalSolutionsCorporationMember2025-12-310001396440California Splendor Holdings LLC | Secured Debt 12025-12-310001396440California Splendor Holdings LLC | Secured Debt 22025-12-310001396440California Splendor Holdings LLC | Preferred Member Units 12025-12-310001396440California Splendor Holdings LLC | Preferred Member Units 22025-12-310001396440main:CaliforniaSplendorHoldingsLLCMember2025-12-310001396440CBT Nuggets, LLC | Member Units2025-12-310001396440Centre Technologies Holdings, LLC | Secured Debt 12025-12-310001396440Centre Technologies Holdings, LLC | Secured Debt 22025-12-310001396440Centre Technologies Holdings, LLC | Preferred Member Units2025-12-310001396440main:CentreTechnologiesHoldingsLLCMember2025-12-310001396440Chamberlin Holding LLC | Secured Debt 12025-12-310001396440Chamberlin Holding LLC | Secured Debt 22025-12-310001396440Chamberlin Holding LLC | Member Units 12025-12-310001396440Chamberlin Holding LLC | Member Units 22025-12-310001396440main:ChamberlinHoldingLLCMember2025-12-310001396440Charps, LLC | Unsecured Debt2025-12-310001396440Charps, LLC | Preferred Member Units2025-12-310001396440main:CharpsLLCMember2025-12-310001396440Clad-Rex Steel, LLC | Secured Debt 12025-12-310001396440Clad-Rex Steel, LLC | Secured Debt 22025-12-310001396440Clad-Rex Steel, LLC | Secured Debt 32025-12-310001396440Clad-Rex Steel, LLC | Member Units 12025-12-310001396440Clad-Rex Steel, LLC | Member Units 22025-12-310001396440main:CladRexSteelLLCMember2025-12-310001396440Cody Pools, Inc. | Secured Debt 12025-12-310001396440Cody Pools, Inc. | Secured Debt 22025-12-310001396440Cody Pools, Inc. | Preferred Member Units2025-12-310001396440main:CodyPoolsIncMember2025-12-310001396440Colonial Electric Company LLC | Secured Debt 12025-12-310001396440Colonial Electric Company LLC | Secured Debt 22025-12-310001396440Colonial Electric Company LLC | Preferred Member Units2025-12-310001396440main:ColonialElectricCompanyLLCMember2025-12-310001396440CompareNetworks Topco, LLC | Secured Debt2025-12-310001396440CompareNetworks Topco, LLC | Preferred Member Units2025-12-310001396440main:CompareNetworksTopcoLLCMember2025-12-310001396440Compass Systems & Sales, LLC | Secured Debt 12025-12-310001396440Compass Systems & Sales, LLC | Secured Debt 22025-12-310001396440Compass Systems & Sales, LLC | Preferred Equity2025-12-310001396440main:CompassSystemsSalesLLCMember2025-12-310001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2025-12-310001396440Cybermedia Technologies, LLC | Secured Debt 12025-12-310001396440Cybermedia Technologies, LLC | Secured Debt 22025-12-310001396440Cybermedia Technologies, LLC | Preferred Member Units2025-12-310001396440Cybermedia Technologies, LLC | Preferred Equity2025-12-310001396440main:CybermediaTechnologiesLLCMember2025-12-310001396440Datacom, LLC | Secured Debt 12025-12-310001396440Datacom, LLC | Secured Debt 22025-12-310001396440Datacom, LLC | Preferred Member Units2025-12-310001396440main:DatacomLLCMember2025-12-310001396440Digital Products Holdings LLC | Secured Debt2025-12-310001396440Digital Products Holdings LLC | Preferred Member Units2025-12-310001396440main:DigitalProductsHoldingsLLCMember2025-12-310001396440Direct Marketing Solutions, Inc. | Secured Debt 12025-12-310001396440Direct Marketing Solutions, Inc. | Secured Debt 22025-12-310001396440Direct Marketing Solutions, Inc. | Preferred Stock2025-12-310001396440main:DirectMarketingSolutionsIncMember2025-12-310001396440Doral Holdings, LLC | Secured Debt 12025-12-310001396440Doral Holdings, LLC | Secured Debt 22025-12-310001396440Doral Holdings, LLC | Preferred Equity2025-12-310001396440main:DoralHoldingsLLCMember2025-12-310001396440Elgin AcquireCo, LLC | Secured Debt 12025-12-310001396440Elgin AcquireCo, LLC | Secured Debt 22025-12-310001396440Elgin AcquireCo, LLC | Secured Debt 32025-12-310001396440Elgin AcquireCo, LLC | Common Stock 12025-12-310001396440Elgin AcquireCo, LLC | Common Stock 22025-12-310001396440main:ElginAcquireCoLLCMember2025-12-310001396440Flame King Holdings, LLC | Secured Debt 12025-12-310001396440Flame King Holdings, LLC | Secured Debt 22025-12-310001396440Flame King Holdings, LLC | Preferred Equity2025-12-310001396440main:FlameKingHoldingsLLCMember2025-12-310001396440Gamber-Johnson Holdings, LLC | Secured Debt 12025-12-310001396440Gamber-Johnson Holdings, LLC | Secured Debt 22025-12-310001396440Gamber-Johnson Holdings, LLC | Member Units2025-12-310001396440Gamber-Johnson Holdings, LLC | Common Equity2025-12-310001396440main:GamberJohnsonHoldingsLLCMember2025-12-310001396440Garreco, LLC | Member Units2025-12-310001396440GRT Rubber Technologies LLC | Secured Debt 12025-12-310001396440GRT Rubber Technologies LLC | Secured Debt 22025-12-310001396440GRT Rubber Technologies LLC | Member Units2025-12-310001396440main:GRTRubberTechnologiesLLCMember2025-12-310001396440Harris Preston Fund Investments | LP Interests (2717 MH, L.P.)2025-12-310001396440Harris Preston Fund Investments | LP Interests (2717 HPP-MS, L.P.)2025-12-310001396440Harris Preston Fund Investments | LP Interests (2717 GRE-LP, L.P.)2025-12-310001396440Harris Preston Fund Investments | LP Interests (423 COR, L.P.)2025-12-310001396440main:HarrisPrestonFundInvestmentsMember2025-12-310001396440Harrison Hydra-Gen, Ltd. | Common Stock2025-12-310001396440IG Investor, LLC | Secured Debt 12025-12-310001396440IG Investor, LLC | Secured Debt 22025-12-310001396440IG Investor, LLC | Common Equity2025-12-310001396440main:IGInvestorLLCMember2025-12-310001396440Jensen Jewelers of Idaho, LLC | Secured Debt 12025-12-310001396440Jensen Jewelers of Idaho, LLC | Secured Debt 22025-12-310001396440Jensen Jewelers of Idaho, LLC | Member Units2025-12-310001396440main:JensenJewelersOfIdahoLLCMember2025-12-310001396440JorVet Holdings, LLC | Secured Debt2025-12-310001396440JorVet Holdings, LLC | Preferred Equity2025-12-310001396440main:JorVetHoldingsLLCMember2025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 12025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 22025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 32025-12-310001396440JTI Electrical & Mechanical, LLC | Common Equity 12025-12-310001396440JTI Electrical & Mechanical, LLC | Common Equity 22025-12-310001396440main:JTIElectricalMechanicalLLCMember2025-12-310001396440KBK Industries, LLC | Secured Debt2025-12-310001396440KBK Industries, LLC | Member Units2025-12-310001396440main:KBKIndustriesLLCMember2025-12-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12025-12-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22025-12-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2025-12-310001396440Kickhaefer Manufacturing Company, LLC | Member Units2025-12-310001396440main:KickhaeferManufacturingCompanyLLCMember2025-12-310001396440Legacy Swim Group | Secured Debt2025-12-310001396440Legacy Swim Group | Preferred Equity2025-12-310001396440main:LegacySwimGroupMember2025-12-310001396440Metalforming Holdings, LLC | Secured Debt 12025-12-310001396440Metalforming Holdings, LLC | Secured Debt 22025-12-310001396440Metalforming Holdings, LLC | Preferred Equity2025-12-310001396440Metalforming Holdings, LLC | Common Stock2025-12-310001396440main:MetalformingHoldingsLLCMember2025-12-310001396440Moffitt Holdings, LLC | Secured Debt2025-12-310001396440Moffitt Holdings, LLC | Preferred Equity2025-12-310001396440main:MoffittHoldingsLLCMember2025-12-310001396440MS Private Loan Fund I, LP | Secured Debt2025-12-310001396440MS Private Loan Fund I, LP | LP Interests2025-12-310001396440main:MSPrivateLoanFundILPMember2025-12-310001396440MS Private Loan Fund II, LP | Secured Debt2025-12-310001396440MS Private Loan Fund II, LP | LP Interests2025-12-310001396440main:MSPrivateLoanFundIILPMember2025-12-310001396440MSC Adviser I, LLC | Member Units2025-12-310001396440MSC Income Fund, Inc. | Common Equity2025-12-310001396440MVI MSO, LLC | Secured Debt2025-12-310001396440MVI MSO, LLC | Preferred Equity2025-12-310001396440main:MVIMSOLLCMember2025-12-310001396440NAPCO Precast, LLC | Member Units 12025-12-310001396440NAPCO Precast, LLC | Member Units 22025-12-310001396440main:NAPCOPrecastLLCMember2025-12-310001396440Nello Industries Investco, LLC | Secured Debt2025-12-310001396440Nello Industries Investco, LLC | Preferred Equity2025-12-310001396440main:NelloIndustriesInvestcoLLCMember2025-12-310001396440NexRev LLC | Preferred Member Units2025-12-310001396440NRP Jones, LLC | Secured Debt2025-12-310001396440NRP Jones, LLC | Preferred Equity2025-12-310001396440NRP Jones, LLC | Member Units 12025-12-310001396440NRP Jones, LLC | Member Units 22025-12-310001396440NRP Jones, LLC | Common Equity2025-12-310001396440main:NRPJonesLLCMember2025-12-310001396440NuStep, LLC | Secured Debt 12025-12-310001396440NuStep, LLC | Secured Debt 22025-12-310001396440NuStep, LLC | Preferred Member Units 12025-12-310001396440NuStep, LLC | Preferred Member Units 22025-12-310001396440main:NuStepLLCMember2025-12-310001396440OMi Topco, LLC | Secured Debt2025-12-310001396440OMi Topco, LLC | Preferred Member Units2025-12-310001396440main:OMiTopcoLLCMember2025-12-310001396440Orttech Holdings, LLC | Secured Debt 12025-12-310001396440Orttech Holdings, LLC | Secured Debt 22025-12-310001396440Orttech Holdings, LLC | Preferred Stock2025-12-310001396440main:OrttechHoldingsLLCMember2025-12-310001396440Pinnacle TopCo, LLC | Secured Debt 12025-12-310001396440Pinnacle TopCo, LLC | Secured Debt 22025-12-310001396440Pinnacle TopCo, LLC | Preferred Equity2025-12-310001396440main:PinnacleTopCoLLCMember2025-12-310001396440PPL RVs, Inc. | Secured Debt 12025-12-310001396440PPL RVs, Inc. | Secured Debt 22025-12-310001396440PPL RVs, Inc. | Common Stock 12025-12-310001396440PPL RVs, Inc. | Common Stock 22025-12-310001396440main:PPLRVsIncMember2025-12-310001396440Principle Environmental, LLC | Secured Debt2025-12-310001396440Principle Environmental, LLC | Preferred Member Units2025-12-310001396440Principle Environmental, LLC | Common Stock2025-12-310001396440main:PrincipleEnvironmentalLLCMember2025-12-310001396440Quality Lease Service, LLC | Member Units2025-12-310001396440River Aggregates, LLC | Member Units2025-12-310001396440Robbins Bros. Jewelry, Inc. | Secured Debt 12025-12-310001396440Robbins Bros. Jewelry, Inc. | Secured Debt 22025-12-310001396440Robbins Bros. Jewelry, Inc. | Preferred Equity2025-12-310001396440main:RobbinsBrosJewelryIncMember2025-12-310001396440Tedder Industries, LLC | Secured Debt 12025-12-310001396440Tedder Industries, LLC | Secured Debt 22025-12-310001396440Tedder Industries, LLC | Preferred Member Units 12025-12-310001396440Tedder Industries, LLC | Preferred Member Units 22025-12-310001396440Tedder Industries, LLC | Preferred Member Units 32025-12-310001396440main:TedderIndustriesLLCMember2025-12-310001396440Televerde, LLC | Preferred Stock2025-12-310001396440Televerde, LLC | Member Units2025-12-310001396440main:TeleverdeLLCMember2025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 12025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 22025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 32025-12-310001396440Trantech Radiator Topco, LLC | Common Equity2025-12-310001396440Trantech Radiator Topco, LLC | Common Stock2025-12-310001396440main:TrantechRadiatorTopcoLLCMember2025-12-310001396440Trinity Medical Holdings, LLC | Secured Debt 12025-12-310001396440Trinity Medical Holdings, LLC | Secured Debt 22025-12-310001396440Trinity Medical Holdings, LLC | Preferred Equity2025-12-310001396440main:TrinityMedicalHoldingsLLCMember2025-12-310001396440Victory Energy Operations, LLC | Secured Debt 12025-12-310001396440Victory Energy Operations, LLC | Secured Debt 22025-12-310001396440Victory Energy Operations, LLC | Preferred Equity2025-12-310001396440main:VictoryEnergyOperationsLLCMember2025-12-310001396440Volusion, LLC | Secured Debt2025-12-310001396440Volusion, LLC | Preferred Member Units 12025-12-310001396440Volusion, LLC | Preferred Member Units 22025-12-310001396440Volusion, LLC | Preferred Member Units 32025-12-310001396440Volusion, LLC | Common Stock2025-12-310001396440main:VolusionLLCMember2025-12-310001396440VVS Holdco LLC | Secured Debt 12025-12-310001396440VVS Holdco LLC | Secured Debt 22025-12-310001396440VVS Holdco LLC | Preferred Equity2025-12-310001396440main:VVSHoldcoLLCMember2025-12-310001396440Ziegler’s NYPD, LLC | Secured Debt 12025-12-310001396440Ziegler’s NYPD, LLC | Secured Debt 22025-12-310001396440Ziegler’s NYPD, LLC | Preferred Member Units2025-12-310001396440main:ZieglersNYPDLLCMember2025-12-310001396440AAC Holdings, Inc. | Secured Debt 12025-12-310001396440AAC Holdings, Inc. | Secured Debt 22025-12-310001396440AAC Holdings, Inc. | Secured Debt 32025-12-310001396440AAC Holdings, Inc. | Secured Debt 42025-12-310001396440AAC Holdings, Inc. | Preferred Equity2025-12-310001396440AAC Holdings, Inc. | Common Stock2025-12-310001396440main:AACHoldingsIncMember2025-12-310001396440Boccella Precast Products LLC | Secured Debt2025-12-310001396440Boccella Precast Products LLC | Member Units2025-12-310001396440main:BoccellaPrecastProductsLLCMember2025-12-310001396440Buca C, LLC | Secured Debt 12025-12-310001396440Buca C, LLC | Secured Debt 22025-12-310001396440Buca C, LLC | Secured Debt 32025-12-310001396440Buca C, LLC | Preferred Member Units2025-12-310001396440main:BucaCLLCMember2025-12-310001396440Career Team Holdings, LLC | Secured Debt 12025-12-310001396440Career Team Holdings, LLC | Secured Debt 22025-12-310001396440Career Team Holdings, LLC | Common Stock2025-12-310001396440main:CareerTeamHoldingsLLCMember2025-12-310001396440CenterPeak Holdings, LLC | Secured Debt 12025-12-310001396440CenterPeak Holdings, LLC | Secured Debt 22025-12-310001396440CenterPeak Holdings, LLC | Preferred Equity2025-12-310001396440main:CenterPeakHoldingsLLCMember2025-12-310001396440CGMS Parent LLC | Secured Debt 12025-12-310001396440CGMS Parent LLC | Secured Debt 22025-12-310001396440CGMS Parent LLC | Preferred Equity2025-12-310001396440main:CGMSParentLLCMember2025-12-310001396440Classic H&G Holdings, LLC | Preferred Member Units2025-12-310001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2025-12-310001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2025-12-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2025-12-310001396440main:ConnectTelecommunicationsSolutionsHoldingsInc.Member2025-12-310001396440DMA Industries, LLC | Secured Debt 12025-12-310001396440DMA Industries, LLC | Secured Debt 22025-12-310001396440DMA Industries, LLC | Preferred Equity 12025-12-310001396440DMA Industries, LLC | Preferred Equity 22025-12-310001396440main:DMAIndustriesLLCMember2025-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2025-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2025-12-310001396440main:DosRiosPartnersMember2025-12-310001396440Dos Rios Stone Products LLC | Class A Preferred Units2025-12-310001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2025-12-310001396440FCC Intermediate Holdco, LLC | Secured Debt 12025-12-310001396440FCC Intermediate Holdco, LLC | Secured Debt 22025-12-310001396440FCC Intermediate Holdco, LLC | Warrants2025-12-310001396440main:FCCIntermediateHoldcoLLCMember2025-12-310001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2025-12-310001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2025-12-310001396440main:FreeportFinancialFundsMember2025-12-310001396440FRG AcquireCo, LLC | Secured Debt 12025-12-310001396440FRG AcquireCo, LLC | Secured Debt 22025-12-310001396440FRG AcquireCo, LLC | Preferred Equity2025-12-310001396440main:FRGAcquireCoLLCMember2025-12-310001396440GFG Group, LLC | Secured Debt2025-12-310001396440GFG Group, LLC | Preferred Member Units2025-12-310001396440main:GFGGroupLLCMember2025-12-310001396440Gulf Manufacturing, LLC | Secured Debt 12025-12-310001396440Gulf Manufacturing, LLC | Secured Debt 22025-12-310001396440Gulf Manufacturing, LLC | Member Units2025-12-310001396440Gulf Manufacturing, LLC | Common Stock2025-12-310001396440Gulf Manufacturing, LLC | Preferred Equity2025-12-310001396440main:GulfManufacturingLLCMember2025-12-310001396440Harris Preston Fund Investments | LP Interests (HPEP 3, L.P.)2025-12-310001396440Harris Preston Fund Investments | LP Interests (HPEP 4, L.P.)2025-12-310001396440Harris Preston Fund Investments | LP Interests (423 HAR, L.P.)2025-12-310001396440main:HarrisPrestonFundInvestmentsTwoMember2025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 12025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 22025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 12025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 22025-12-310001396440main:HawkRidgeSystemsLLCMember2025-12-310001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2025-12-310001396440Houston Plating and Coatings, LLC | Member Units2025-12-310001396440main:HoustonPlatingAndCoatingsLLCMember2025-12-310001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2025-12-310001396440Infinity X1 Holdings, LLC | Secured Debt2025-12-310001396440Infinity X1 Holdings, LLC | Preferred Equity2025-12-310001396440main:InfinityX1HoldingsLLCMember2025-12-310001396440Integral Energy Services | Secured Debt2025-12-310001396440Integral Energy Services | Preferred Equity 12025-12-310001396440Integral Energy Services | Preferred Equity 22025-12-310001396440Integral Energy Services | Common Stock2025-12-310001396440main:IntegralEnergyServicesMember2025-12-310001396440Iron-Main Investments, LLC | Secured Debt 12025-12-310001396440Iron-Main Investments, LLC | Secured Debt 22025-12-310001396440Iron-Main Investments, LLC | Secured Debt 32025-12-310001396440Iron-Main Investments, LLC | Secured Debt 42025-12-310001396440Iron-Main Investments, LLC | Secured Debt 52025-12-310001396440Iron-Main Investments, LLC | Preferred Equity 12025-12-310001396440Iron-Main Investments, LLC | Preferred Equity 22025-12-310001396440Iron-Main Investments, LLC | Common Stock2025-12-310001396440main:IronMainInvestmentsLLCMember2025-12-310001396440ITA Holdings Group, LLC | Secured Debt 12025-12-310001396440ITA Holdings Group, LLC | Secured Debt 22025-12-310001396440ITA Holdings Group, LLC | Secured Debt 32025-12-310001396440ITA Holdings Group, LLC | Secured Debt 42025-12-310001396440ITA Holdings Group, LLC | Secured Debt 52025-12-310001396440ITA Holdings Group, LLC | Warrants2025-12-310001396440main:ITAHoldingsGroupLLCMember2025-12-310001396440KMS, LLC | Secured Debt 12025-12-310001396440KMS, LLC | Secured Debt 22025-12-310001396440KMS, LLC | Secured Debt 32025-12-310001396440KMS, LLC | Preferred Equity2025-12-310001396440main:KMSLLCMember2025-12-310001396440Mills Fleet Farm Group, LLC | Secured Debt 12025-12-310001396440Mills Fleet Farm Group, LLC | Secured Debt 22025-12-310001396440Mills Fleet Farm Group, LLC | Preferred Equity2025-12-310001396440main:MillsFleetFarmGroupLLCMember2025-12-310001396440MoneyThumb Acquisition, LLC | Secured Debt2025-12-310001396440MoneyThumb Acquisition, LLC | Preferred Member Units2025-12-310001396440MoneyThumb Acquisition, LLC | Warrants2025-12-310001396440main:MoneyThumbAcquisitionLLCMember2025-12-310001396440Nearshore AcquireCo, LLC | Secured Debt 12025-12-310001396440Nearshore AcquireCo, LLC | Secured Debt 22025-12-310001396440Nearshore AcquireCo, LLC | Secured Debt 32025-12-310001396440Nearshore AcquireCo, LLC | Preferred Equity2025-12-310001396440main:NearshoreAcquireCoLLCMember2025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 12025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 22025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 32025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 42025-12-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2025-12-310001396440OnAsset Intelligence, Inc. | Preferred Stock2025-12-310001396440OnAsset Intelligence, Inc. | Common Stock2025-12-310001396440OnAsset Intelligence, Inc. | Warrants2025-12-310001396440main:OnAssetIntelligenceIncMember2025-12-310001396440Oneliance, LLC | Preferred Stock2025-12-310001396440RA Outdoors LLC | Secured Debt 12025-12-310001396440RA Outdoors LLC | Secured Debt 22025-12-310001396440RA Outdoors LLC | Secured Debt 32025-12-310001396440RA Outdoors LLC | Secured Debt 42025-12-310001396440RA Outdoors LLC | Common Equity2025-12-310001396440main:RAOutdoorsLLCMember2025-12-310001396440Revenue Recovery Holdings, LLC | Secured Debt 12025-12-310001396440Revenue Recovery Holdings, LLC | Secured Debt 22025-12-310001396440Revenue Recovery Holdings, LLC | Preferred Equity2025-12-310001396440main:RevenueRecoveryHoldingsLLCMember2025-12-310001396440RFG AcquireCo, LLC | Secured Debt 12025-12-310001396440RFG AcquireCo, LLC | Secured Debt 22025-12-310001396440RFG AcquireCo, LLC | Secured Debt 32025-12-310001396440RFG AcquireCo, LLC | Preferred Equity2025-12-310001396440main:RFGAcquireCoLLCMember2025-12-310001396440SI East, LLC | Secured Debt 12025-12-310001396440SI East, LLC | Secured Debt 22025-12-310001396440SI East, LLC | Preferred Member Units2025-12-310001396440main:SIEastLLCMember2025-12-310001396440Slick Innovations, LLC | Secured Debt2025-12-310001396440Slick Innovations, LLC | Common Stock2025-12-310001396440main:SlickInnovationsLLCMember2025-12-310001396440Specialized Aviation Holdings, LLC | Secured Debt2025-12-310001396440Specialized Aviation Holdings, LLC | Preferred Stock2025-12-310001396440main:SpecializedAviationHoldingsLLCMember2025-12-310001396440Student Resource Center, LLC | Secured Debt 12025-12-310001396440Student Resource Center, LLC | Secured Debt 22025-12-310001396440Student Resource Center, LLC | Preferred Equity2025-12-310001396440main:StudentResourceCenterLLCMember2025-12-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2025-12-310001396440The Affiliati Network, LLC | Preferred Stock 12025-12-310001396440The Affiliati Network, LLC | Preferred Stock 22025-12-310001396440main:TheAffiliatiNetworkLLCMember2025-12-310001396440UnionRock Energy Fund II, LP | LP Interests2025-12-310001396440UnionRock Energy Fund III, LP | LP Interests2025-12-310001396440UniTek Global Services, Inc. | Preferred Stock 12025-12-310001396440UniTek Global Services, Inc. | Preferred Stock 22025-12-310001396440UniTek Global Services, Inc. | Preferred Stock 32025-12-310001396440UniTek Global Services, Inc. | Common Stock2025-12-310001396440main:UniTekGlobalServicesIncMember2025-12-310001396440Urgent DSO LLC | Secured Debt2025-12-310001396440Urgent DSO LLC | Preferred Equity2025-12-310001396440main:UrgentDSOLLCMember2025-12-310001396440Wildcats Topco LLC | Common Equity2025-12-310001396440World Micro Holdings, LLC | Secured Debt2025-12-310001396440World Micro Holdings, LLC | Preferred Equity2025-12-310001396440main:WorldMicroHoldingsLLCMember2025-12-310001396440Adams Publishing Group, LLC | Secured Debt 12025-12-310001396440Adams Publishing Group, LLC | Secured Debt 22025-12-310001396440Adams Publishing Group, LLC | Secured Debt 32025-12-310001396440main:AdamsPublishingGroupLLCMember2025-12-310001396440AGS American Glass Services Acquisition, LLC | Secured Debt 12025-12-310001396440AGS American Glass Services Acquisition, LLC | Secured Debt 22025-12-310001396440AGS American Glass Services Acquisition, LLC | Secured Debt 32025-12-310001396440AGS American Glass Services Acquisition, LLC | Preferred Equity2025-12-310001396440main:AGSAmericanGlassServicesAcquisitionLLCMember2025-12-310001396440Airo Purchaser, Inc. | Secured Debt 12025-12-310001396440Airo Purchaser, Inc. | Secured Debt 22025-12-310001396440Airo Purchaser, Inc. | Secured Debt 32025-12-310001396440Airo Purchaser, Inc. | Common Equity2025-12-310001396440main:AiroPurchaserInc.Member2025-12-310001396440AMEREQUIP LLC | Common Stock2025-12-310001396440American Health Staffing Group, Inc. | Secured Debt 12025-12-310001396440American Health Staffing Group, Inc. | Secured Debt 22025-12-310001396440main:AmericanHealthStaffingGroupIncMember2025-12-310001396440ArborWorks, LLC | Secured Debt 12025-12-310001396440ArborWorks, LLC | Secured Debt 22025-12-310001396440ArborWorks, LLC | Preferred Equity 12025-12-310001396440ArborWorks, LLC | Preferred Equity 22025-12-310001396440ArborWorks, LLC | Common Equity2025-12-310001396440main:ArborWorksLLCMember2025-12-310001396440Archer Systems, LLC | Common Stock2025-12-310001396440ATS Operating, LLC | Secured Debt 12025-12-310001396440ATS Operating, LLC | Secured Debt 22025-12-310001396440ATS Operating, LLC | Secured Debt 32025-12-310001396440ATS Operating, LLC | Common Stock2025-12-310001396440main:ATSOperatingLLCMember2025-12-310001396440Auria Space, LLC | Secured Debt 12025-12-310001396440Auria Space, LLC | Secured Debt 22025-12-310001396440Auria Space, LLC | Secured Debt 32025-12-310001396440main:AuriaSpaceLLCMember2025-12-310001396440AVEX Aviation Holdings, LLC | Secured Debt 12025-12-310001396440AVEX Aviation Holdings, LLC | Secured Debt 22025-12-310001396440AVEX Aviation Holdings, LLC | Secured Debt 32025-12-310001396440AVEX Aviation Holdings, LLC | Common Equity2025-12-310001396440main:AVEXAviationHoldingsLLCMember2025-12-310001396440Behavior Development Group Holdings | Secured Debt 12025-12-310001396440Behavior Development Group Holdings | Secured Debt 22025-12-310001396440Behavior Development Group Holdings | Common Equity2025-12-310001396440main:BehaviorDevelopmentGroupHoldingsMember2025-12-310001396440Berry Aviation, Inc. | Preferred Member Units 12025-12-310001396440Berry Aviation, Inc. | Preferred Member Units 22025-12-310001396440Berry Aviation, Inc. | Preferred Member Units 32025-12-310001396440main:BerryAviationIncMember2025-12-310001396440Bluestem Brands, Inc. | Secured Debt 12025-12-310001396440Bluestem Brands, Inc. | Secured Debt 22025-12-310001396440Bluestem Brands, Inc. | Secured Debt 32025-12-310001396440Bluestem Brands, Inc. | Common Stock2025-12-310001396440Bluestem Brands, Inc. | Warrants2025-12-310001396440main:BluestemBrandsIncMember2025-12-310001396440B-O-F Corporation | Secured Debt 12025-12-310001396440B-O-F Corporation | Secured Debt 22025-12-310001396440B-O-F Corporation | Secured Debt 32025-12-310001396440B-O-F Corporation | Common Equity2025-12-310001396440main:BOFCorporationMember2025-12-310001396440Bond Brand Loyalty ULC | Secured Debt 12025-12-310001396440Bond Brand Loyalty ULC | Secured Debt 22025-12-310001396440Bond Brand Loyalty ULC | Secured Debt 32025-12-310001396440Bond Brand Loyalty ULC | Secured Debt 42025-12-310001396440Bond Brand Loyalty ULC | Preferred Equity2025-12-310001396440Bond Brand Loyalty ULC | Common Equity2025-12-310001396440main:BondBrandLoyaltyULCMember2025-12-310001396440BP Loenbro Holdings Inc. | Secured Debt 12025-12-310001396440BP Loenbro Holdings Inc. | Secured Debt 22025-12-310001396440BP Loenbro Holdings Inc. | Secured Debt 32025-12-310001396440BP Loenbro Holdings Inc. | Secured Debt 42025-12-310001396440BP Loenbro Holdings Inc. | Secured Debt 52025-12-310001396440BP Loenbro Holdings Inc. | Common Equity2025-12-310001396440main:BPLoenbroHoldingsInc.Member2025-12-310001396440Brainworks Software, LLC | Secured Debt 12025-12-310001396440Brainworks Software, LLC | Secured Debt 22025-12-310001396440main:BrainworksSoftwareLLCMember2025-12-310001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund III, LP)2025-12-310001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund IV, LP)2025-12-310001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund V, LP)2025-12-310001396440main:BrightwoodCapitalFundInvestmentsMember2025-12-310001396440CaseWorthy, Inc. | Common Equity2025-12-310001396440Channel Partners Intermediateco, LLC | Secured Debt 12025-12-310001396440Channel Partners Intermediateco, LLC | Secured Debt 22025-12-310001396440Channel Partners Intermediateco, LLC | Secured Debt 32025-12-310001396440Channel Partners Intermediateco, LLC | Secured Debt 42025-12-310001396440main:ChannelPartnersIntermediatecoLLCMember2025-12-310001396440Clarius BIGS, LLC | Secured Debt2025-12-310001396440Computer Data Source, LLC | Secured Debt 12025-12-310001396440Computer Data Source, LLC | Secured Debt 22025-12-310001396440main:ComputerDataSourceLLCMember2025-12-310001396440Core Transformers | Secured Debt 12025-12-310001396440Core Transformers | Secured Debt 22025-12-310001396440Core Transformers | Secured Debt 32025-12-310001396440Core Transformers | Common Equity2025-12-310001396440main:CoreTransformersMember2025-12-310001396440Coregistics Buyer LLC | Secured Debt 12025-12-310001396440Coregistics Buyer LLC | Secured Debt 22025-12-310001396440Coregistics Buyer LLC | Secured Debt 32025-12-310001396440Coregistics Buyer LLC | Secured Debt 42025-12-310001396440main:CoregisticsBuyerLLCMember2025-12-310001396440CQ Fluency, LLC | Secured Debt 12025-12-310001396440CQ Fluency, LLC | Secured Debt 22025-12-310001396440main:CQFluencyLLCMember2025-12-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 12025-12-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 22025-12-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 32025-12-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 42025-12-310001396440main:CRCEvansUSABidcoInc.Member2025-12-310001396440Creative Foam Corporation | Secured Debt 12025-12-310001396440Creative Foam Corporation | Secured Debt 22025-12-310001396440Creative Foam Corporation | Secured Debt 32025-12-310001396440Creative Foam Corporation | Common Equity2025-12-310001396440main:CreativeFoamCorporationMember2025-12-310001396440Dalton US Inc. | Common Stock2025-12-310001396440DTE Enterprises, LLC | Class AA Preferred Member Units (non-voting)2025-12-310001396440DTE Enterprises, LLC | Class A Preferred Member Units2025-12-310001396440main:DTEEnterprisesLLCMember2025-12-310001396440Dynamic Communities, LLC | Secured Debt 12025-12-310001396440Dynamic Communities, LLC | Secured Debt 22025-12-310001396440Dynamic Communities, LLC | Preferred Equity 12025-12-310001396440Dynamic Communities, LLC | Preferred Equity 22025-12-310001396440Dynamic Communities, LLC | Common Equity2025-12-310001396440main:DynamicCommunitiesLLCMember2025-12-310001396440Electro Technical Industries, LLC | Secured Debt 12025-12-310001396440Electro Technical Industries, LLC | Secured Debt 22025-12-310001396440Electro Technical Industries, LLC | Common Equity2025-12-310001396440main:ElectroTechnicalIndustriesLLCMember2025-12-310001396440Emerald Technologies Acquisition Co, Inc. | Secured Debt2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Energy Capital Fund VIII, L.P.)2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Energy Capital Fund VIII Co-Investors, L.P.)2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Energy Capital Fund IX, L.P.)2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Energy Capital Fund X, L.P.)2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Energy Capital Fund XII, L.P.)2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Flatrock Midstream Fund II, L.P.)2025-12-310001396440EnCap Energy Fund Investments | LP Interests (EnCap Flatrock Midstream Fund III, L.P.)2025-12-310001396440main:EnCapEnergyFundInvestmentsMember2025-12-310001396440Escalent, Inc. | Secured Debt 12025-12-310001396440Escalent, Inc. | Secured Debt 22025-12-310001396440Escalent, Inc. | Secured Debt 32025-12-310001396440Escalent, Inc. | Common Equity2025-12-310001396440main:EscalentIncMember2025-12-310001396440Event Holdco, LLC | Secured Debt 12025-12-310001396440Event Holdco, LLC | Secured Debt 22025-12-310001396440main:EventHoldcoLLCMember2025-12-310001396440EWMW LP | Secured Debt2025-12-310001396440Fuse, LLC | Secured Debt2025-12-310001396440Fuse, LLC | Common Stock2025-12-310001396440main:FuseLLCMember2025-12-310001396440Garyline, LLC | Secured Debt 12025-12-310001396440Garyline, LLC | Secured Debt 22025-12-310001396440Garyline, LLC | Common Equity2025-12-310001396440main:GarylineLLCMember2025-12-310001396440GradeEight Corp. | Secured Debt 12025-12-310001396440GradeEight Corp. | Secured Debt 22025-12-310001396440GradeEight Corp. | Secured Debt 32025-12-310001396440GradeEight Corp. | Common Equity2025-12-310001396440main:GradeEightCorp.Member2025-12-310001396440GS HVAM Intermediate, LLC | Secured Debt 12025-12-310001396440GS HVAM Intermediate, LLC | Secured Debt 22025-12-310001396440GS HVAM Intermediate, LLC | Secured Debt 32025-12-310001396440GS HVAM Intermediate, LLC | Secured Debt 42025-12-310001396440GS HVAM Intermediate, LLC | Secured Debt 52025-12-310001396440main:GSHVAMIntermediateLLCMember2025-12-310001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 12025-12-310001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 22025-12-310001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 32025-12-310001396440main:GULFPACIFICACQUISITIONLLCMember2025-12-310001396440Harris Preston Fund Investments | LP Interests (423 AER II, LP)2025-12-310001396440HDC/HW Intermediate Holdings | Secured Debt 12025-12-310001396440HDC/HW Intermediate Holdings | Secured Debt 22025-12-310001396440HDC/HW Intermediate Holdings | Common Equity2025-12-310001396440main:HDCHWIntermediateHoldingsMember2025-12-310001396440Hornblower Sub, LLC | Secured Debt 12025-12-310001396440Hornblower Sub, LLC | Secured Debt 22025-12-310001396440main:HornblowerSubLLCMember2025-12-310001396440HOWLCO LLC | Secured Debt2025-12-310001396440Hybrid Promotions, LLC | Secured Debt2025-12-310001396440IG Parent Corporation | Secured Debt 12025-12-310001396440IG Parent Corporation | Secured Debt 22025-12-310001396440IG Parent Corporation | Secured Debt 32025-12-310001396440main:IGParentCorporationMember2025-12-310001396440Ignite Visibility LLC | Secured Debt 12025-12-310001396440Ignite Visibility LLC | Secured Debt 22025-12-310001396440main:IgniteVisibilityLLCMember2025-12-310001396440Imaging Business Machines, L.L.C. | Common Equity2025-12-310001396440Implus Footcare, LLC | Secured Debt 12025-12-310001396440Implus Footcare, LLC | Secured Debt 22025-12-310001396440Implus Footcare, LLC | Common Equity2025-12-310001396440main:ImplusFootcareLLCMember2025-12-310001396440Insight Borrower Corporation | Secured Debt 12025-12-310001396440Insight Borrower Corporation | Secured Debt 22025-12-310001396440Insight Borrower Corporation | Common Equity2025-12-310001396440main:InsightBorrowerCorporationMember2025-12-310001396440Inspire Aesthetics Management, LLC | Secured Debt 12025-12-310001396440Inspire Aesthetics Management, LLC | Secured Debt 22025-12-310001396440Inspire Aesthetics Management, LLC | Secured Debt 32025-12-310001396440Inspire Aesthetics Management, LLC | Secured Debt 42025-12-310001396440Inspire Aesthetics Management, LLC | Common Equity2025-12-310001396440main:InspireAestheticsManagementLLCMember2025-12-310001396440Interface Security Systems, L.L.C | Secured Debt 12025-12-310001396440Interface Security Systems, L.L.C | Secured Debt 22025-12-310001396440Interface Security Systems, L.L.C | Common Stock2025-12-310001396440main:InterfaceSecuritySystemsLLCMember2025-12-310001396440Invincible Boat Company, LLC. | Secured Debt 12025-12-310001396440Invincible Boat Company, LLC. | Secured Debt 22025-12-310001396440main:InvincibleBoatCompanyLLCMember2025-12-310001396440Isagenix International, LLC | Secured Debt2025-12-310001396440Isagenix International, LLC | Common Equity2025-12-310001396440main:IsagenixInternationalLLCMember2025-12-310001396440Island Pump and Tank, LLC | Secured Debt 12025-12-310001396440Island Pump and Tank, LLC | Secured Debt 22025-12-310001396440Island Pump and Tank, LLC | Secured Debt 32025-12-310001396440Island Pump and Tank, LLC | Secured Debt 42025-12-310001396440main:IslandPumpAndTankLLCMember2025-12-310001396440Jackmont Hospitality, Inc. | Secured Debt 12025-12-310001396440Jackmont Hospitality, Inc. | Secured Debt 22025-12-310001396440Jackmont Hospitality, Inc. | Secured Debt 32025-12-310001396440Jackmont Hospitality, Inc. | Secured Debt 42025-12-310001396440Jackmont Hospitality, Inc. | Preferred Equity2025-12-310001396440main:JackmontHospitalityIncMember2025-12-310001396440Joerns Healthcare, LLC | Secured Debt 12025-12-310001396440Joerns Healthcare, LLC | Secured Debt 22025-12-310001396440Joerns Healthcare, LLC | Common Stock2025-12-310001396440main:JoernsHealthcareLLCMember2025-12-310001396440LKCM Headwater Investments I, L.P. | LP Interests2025-12-310001396440LLFlex, LLC | Secured Debt2025-12-310001396440Logix Acquisition Company, LLC | Secured Debt 12025-12-310001396440Logix Acquisition Company, LLC | Secured Debt 22025-12-310001396440main:LogixAcquisitionCompanyLLCMember2025-12-310001396440Looking Glass Investments, LLC | Member Units2025-12-310001396440MCT Purchaserco Holding Inc. | Secured Debt 12025-12-310001396440MCT Purchaserco Holding Inc. | Secured Debt 22025-12-310001396440MCT Purchaserco Holding Inc. | Common Equity2025-12-310001396440main:MCTPurchasercoHoldingInc.Member2025-12-310001396440Microbe Formulas, LLC | Secured Debt 12025-12-310001396440Microbe Formulas, LLC | Secured Debt 22025-12-310001396440Microbe Formulas, LLC | Secured Debt 32025-12-310001396440main:MicrobeFormulasLLCMember2025-12-310001396440Mini Melts of America, LLC | Secured Debt 12025-12-310001396440Mini Melts of America, LLC | Secured Debt 22025-12-310001396440Mini Melts of America, LLC | Secured Debt 32025-12-310001396440Mini Melts of America, LLC | Secured Debt 42025-12-310001396440Mini Melts of America, LLC | Common Equity2025-12-310001396440main:MiniMeltsOfAmericaLLCMember2025-12-310001396440Mission Critical Group | Secured Debt 12025-12-310001396440Mission Critical Group | Secured Debt 22025-12-310001396440Mission Critical Group | Secured Debt 32025-12-310001396440Mission Critical Group | Common Equity2025-12-310001396440main:MissionCriticalGroupMember2025-12-310001396440MonitorUS Holding, LLC | Secured Debt 12025-12-310001396440MonitorUS Holding, LLC | Secured Debt 22025-12-310001396440MonitorUS Holding, LLC | Secured Debt 32025-12-310001396440MonitorUS Holding, LLC | Secured Debt 42025-12-310001396440MonitorUS Holding, LLC | Unsecured Debt2025-12-310001396440MonitorUS Holding, LLC | Common Stock2025-12-310001396440main:MonitorUSHoldingLLCMember2025-12-310001396440Obra Capital, Inc. | Secured Debt 12025-12-310001396440Obra Capital, Inc. | Secured Debt 22025-12-310001396440Obra Capital, Inc. | Secured Debt 32025-12-310001396440main:ObraCapitalInc.Member2025-12-310001396440OnPoint Industrial Services, LLC | Secured Debt 12025-12-310001396440OnPoint Industrial Services, LLC | Secured Debt 22025-12-310001396440main:OnPointIndustrialServicesLLCMember2025-12-310001396440Ospemifene Royalty Sub LLC | Secured Debt2025-12-310001396440Peaches Holding Corporation | Common Equity2025-12-310001396440PrimeFlight Aviation Services | Secured Debt 12025-12-310001396440PrimeFlight Aviation Services | Secured Debt 22025-12-310001396440PrimeFlight Aviation Services | Secured Debt 32025-12-310001396440PrimeFlight Aviation Services | Secured Debt 42025-12-310001396440PrimeFlight Aviation Services | Secured Debt 52025-12-310001396440PrimeFlight Aviation Services | Secured Debt 62025-12-310001396440PrimeFlight Aviation Services | Secured Debt 72025-12-310001396440main:PrimeFlightAviationServicesMember2025-12-310001396440Richardson Sales Solutions | Secured Debt 12025-12-310001396440Richardson Sales Solutions | Secured Debt 22025-12-310001396440Richardson Sales Solutions | Secured Debt 32025-12-310001396440main:RichardsonSalesSolutionsMember2025-12-310001396440Roof Opco, LLC | Secured Debt 12025-12-310001396440Roof Opco, LLC | Secured Debt 22025-12-310001396440Roof Opco, LLC | Secured Debt 32025-12-310001396440main:RoofOpcoLLCMember2025-12-310001396440Royal Cup Inc. | Secured Debt 12025-12-310001396440Royal Cup Inc. | Secured Debt 22025-12-310001396440Royal Cup Inc. | Secured Debt 32025-12-310001396440Royal Cup Inc. | Secured Debt 42025-12-310001396440Royal Cup Inc. | Preferred Equity2025-12-310001396440main:RoyalCupInc.Member2025-12-310001396440Rug Doctor, LLC. | Secured Debt 12025-12-310001396440Rug Doctor, LLC. | Secured Debt 22025-12-310001396440main:RugDoctorLLCMember2025-12-310001396440South Coast Terminals Holdings, LLC | Secured Debt 12025-12-310001396440South Coast Terminals Holdings, LLC | Secured Debt 22025-12-310001396440South Coast Terminals Holdings, LLC | Secured Debt 32025-12-310001396440South Coast Terminals Holdings, LLC | Common Equity2025-12-310001396440main:SouthCoastTerminalsHoldingsLLCMember2025-12-310001396440SPAU Holdings, LLC | Secured Debt 12025-12-310001396440SPAU Holdings, LLC | Secured Debt 22025-12-310001396440SPAU Holdings, LLC | Common Stock2025-12-310001396440main:SPAUHoldingsLLCMember2025-12-310001396440TEC Services, LLC | Secured Debt 12025-12-310001396440TEC Services, LLC | Secured Debt 22025-12-310001396440TEC Services, LLC | Secured Debt 32025-12-310001396440main:TECServicesLLCMember2025-12-310001396440Tectonic Financial, LLC | Common Stock2025-12-310001396440Tex Tech Tennis, LLC | Preferred Equity2025-12-310001396440Titan Meter Midco Corp. | Secured Debt 12025-12-310001396440Titan Meter Midco Corp. | Secured Debt 22025-12-310001396440Titan Meter Midco Corp. | Secured Debt 32025-12-310001396440Titan Meter Midco Corp. | Secured Debt 42025-12-310001396440Titan Meter Midco Corp. | Preferred Equity2025-12-310001396440main:TitanMeterMidcoCorp.Member2025-12-310001396440U.S. TelePacific Corp. | Secured Debt 12025-12-310001396440U.S. TelePacific Corp. | Secured Debt 22025-12-310001396440main:USTelePacificCorpMember2025-12-310001396440UBM AcquireCo LLC | Secured Debt 12025-12-310001396440UBM AcquireCo LLC | Secured Debt 22025-12-310001396440UBM AcquireCo LLC | Common Equity2025-12-310001396440main:UBMAcquireCoLLCMember2025-12-310001396440UPS Intermediate, LLC | Secured Debt2025-12-310001396440UPS Intermediate, LLC | Common Equity2025-12-310001396440main:UPSIntermediateLLCMember2025-12-310001396440UserZoom Technologies, Inc. | Secured Debt2025-12-310001396440Vitesse Systems | Secured Debt 12025-12-310001396440Vitesse Systems | Secured Debt 22025-12-310001396440main:VitesseSystemsMember2025-12-310001396440VORTEQ Coil Finishers, LLC | Common Equity2025-12-310001396440Wash & Wax Systems LLC | Secured Debt 12025-12-310001396440Wash & Wax Systems LLC | Secured Debt 22025-12-310001396440Wash & Wax Systems LLC | Secured Debt 32025-12-310001396440Wash & Wax Systems LLC | Common Equity2025-12-310001396440main:WashWaxSystemsLLCMember2025-12-310001396440Watterson Brands, LLC | Secured Debt 12025-12-310001396440Watterson Brands, LLC | Secured Debt 22025-12-310001396440Watterson Brands, LLC | Secured Debt 32025-12-310001396440Watterson Brands, LLC | Secured Debt 42025-12-310001396440main:WattersonBrandsLLCMember2025-12-310001396440Winter Services LLC | Secured Debt 12025-12-310001396440Winter Services LLC | Secured Debt 22025-12-310001396440Winter Services LLC | Secured Debt 32025-12-310001396440Winter Services LLC | Secured Debt 42025-12-310001396440main:WinterServicesLLCMember2025-12-310001396440Xenon Arc, Inc. | Secured Debt 12025-12-310001396440Xenon Arc, Inc. | Secured Debt 22025-12-310001396440Xenon Arc, Inc. | Secured Debt 32025-12-310001396440main:XenonArcIncMember2025-12-310001396440YS Garments, LLC | Secured Debt2025-12-310001396440ZRG Partners, LLC | Secured Debt 12025-12-310001396440ZRG Partners, LLC | Secured Debt 22025-12-310001396440ZRG Partners, LLC | Secured Debt 32025-12-310001396440ZRG Partners, LLC | Secured Debt 42025-12-310001396440main:ZRGPartnersLLCMember2025-12-310001396440Dreyfus Government Cash Management2025-12-310001396440Fidelity Government Fund2025-12-310001396440Fidelity Treasury2025-12-310001396440us-gaap:MoneyMarketFundsMember2025-12-310001396440us-gaap:SecuredOvernightFinancingRateSofrMembersrt:MinimumMember2025-12-310001396440us-gaap:SecuredOvernightFinancingRateSofrMembersrt:MaximumMember2025-12-310001396440us-gaap:SecuredOvernightFinancingRateSofrMembersrt:WeightedAverageMember2025-12-310001396440Bolder Panther Group, LLC, Secured Debtsrt:MinimumMember2025-12-310001396440SI East, LLC, Secured Debt 22025-12-310001396440main:SOFRAdjustmentSpreadMembersrt:MinimumMember2025-12-310001396440main:SOFRAdjustmentSpreadMembersrt:MaximumMember2025-12-310001396440Adams Publishing Group, LLC, Secured Debt 22025-12-310001396440Adams Publishing Group, LLC, Secured Debt 12025-12-310001396440Gamber-Johnson Holdings, LLC, Secured Debt 12025-12-310001396440Gamber-Johnson Holdings, LLC, Secured Debt 22025-12-310001396440Isagenix International, LLC, Secured Debt2025-12-310001396440main:LowerMiddleMarketPortfolioMember2026-01-012026-06-300001396440main:LowerMiddleMarketPortfolioMember2025-01-012025-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-06-300001396440main:LowerMiddleMarketPortfolioMember2025-07-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtFairValueMember2025-07-012026-06-300001396440main:PrivateLoanPortfolioMember2026-01-012026-06-300001396440main:PrivateLoanPortfolioMember2025-01-012025-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-06-300001396440main:PrivateLoanPortfolioMember2025-07-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtFairValueMember2025-07-012026-06-300001396440main:MiddleMarketPortfolioMember2026-06-300001396440main:MiddleMarketPortfolioMember2025-12-310001396440main:InvestmentTypeConcentrationRiskMemberus-gaap:OtherAggregatedInvestmentsMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMemberus-gaap:OtherAggregatedInvestmentsMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:NonperformingFinancingReceivableMember2026-06-300001396440us-gaap:NonperformingFinancingReceivableMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:NonperformingFinancingReceivableMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:NonperformingFinancingReceivableMember2025-12-310001396440us-gaap:NonperformingFinancingReceivableMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:NonperformingFinancingReceivableMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMember2026-01-012026-06-300001396440us-gaap:ShortTermInvestmentsMember2026-06-300001396440us-gaap:ShortTermInvestmentsMember2025-12-310001396440us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2026-06-300001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2026-06-300001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2026-06-300001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2026-06-300001396440us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2026-06-300001396440us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2026-06-300001396440us-gaap:FairValueInputsLevel3Member2026-06-300001396440main:MeasurementInputEBITDAMultipleOutlierMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:MeasurementInputEBITDAMultipleOutlierMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:MeasurementInputRiskAdjustedDiscountRateOutlierMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:MeasurementInputRiskAdjustedDiscountRateOutlierMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:ExternalInvestmentManagerMembermain:MeasurementInputFeeMultipleMemberus-gaap:FairValueInputsLevel3Memberus-gaap:RelatedPartyMembermain:ValuationMarketAndEnterpriseValueApproachMember2026-06-300001396440us-gaap:EquitySecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:EquitySecuritiesMembermain:MeasurementInputWeightedAverageCostOfCapitalMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2025-12-310001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2025-12-310001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2025-12-310001396440us-gaap:EquitySecuritiesMemberus-gaap:MeasurementInputEbitdaMultipleMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Membermain:ValuationMarketAndEnterpriseValueApproachMember2025-12-310001396440us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputRiskAdjustedDiscountRateMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputExpectedPrincipalRecoveryPercentageMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ValuationTechniqueDiscountedCashFlowMember2025-12-310001396440us-gaap:DebtSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:MeasurementInputThirdPartyQuoteMembersrt:MedianMemberus-gaap:FairValueInputsLevel3Memberus-gaap:MarketApproachValuationTechniqueMember2025-12-310001396440us-gaap:FairValueInputsLevel3Member2025-12-310001396440main:MeasurementInputEBITDAMultipleOutlierMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:MeasurementInputEBITDAMultipleOutlierMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:MeasurementInputRiskAdjustedDiscountRateOutlierMembersrt:MinimumMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:MeasurementInputRiskAdjustedDiscountRateOutlierMembersrt:MaximumMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:ExternalInvestmentManagerMembermain:MeasurementInputFeeMultipleMemberus-gaap:FairValueInputsLevel3Memberus-gaap:RelatedPartyMembermain:ValuationMarketAndEnterpriseValueApproachMember2025-12-310001396440us-gaap:DebtSecuritiesMember2025-12-310001396440us-gaap:DebtSecuritiesMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossus-gaap:DebtSecuritiesMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossus-gaap:DebtSecuritiesMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMember2026-06-300001396440us-gaap:EquitySecuritiesMember2025-12-310001396440us-gaap:EquitySecuritiesMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossus-gaap:EquitySecuritiesMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossus-gaap:EquitySecuritiesMember2026-01-012026-06-300001396440us-gaap:EquitySecuritiesMember2026-06-300001396440main:EquityWarrantMember2025-12-310001396440main:EquityWarrantMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossmain:EquityWarrantMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossmain:EquityWarrantMember2026-01-012026-06-300001396440main:EquityWarrantMember2026-06-300001396440us-gaap:InvestmentsMember2025-12-310001396440us-gaap:InvestmentsMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossus-gaap:InvestmentsMember2026-01-012026-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossus-gaap:InvestmentsMember2026-01-012026-06-300001396440us-gaap:InvestmentsMember2026-06-300001396440us-gaap:DebtSecuritiesMember2024-12-310001396440us-gaap:DebtSecuritiesMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossus-gaap:DebtSecuritiesMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossus-gaap:DebtSecuritiesMember2025-01-012025-06-300001396440us-gaap:DebtSecuritiesMember2025-06-300001396440us-gaap:EquitySecuritiesMember2024-12-310001396440us-gaap:EquitySecuritiesMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossus-gaap:EquitySecuritiesMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossus-gaap:EquitySecuritiesMember2025-01-012025-06-300001396440us-gaap:EquitySecuritiesMember2025-06-300001396440main:EquityWarrantMember2024-12-310001396440main:EquityWarrantMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossmain:EquityWarrantMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossmain:EquityWarrantMember2025-01-012025-06-300001396440main:EquityWarrantMember2025-06-300001396440us-gaap:InvestmentsMember2024-12-310001396440us-gaap:InvestmentsMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesRealizedGainLossus-gaap:InvestmentsMember2025-01-012025-06-300001396440us-gaap:DebtAndEquitySecuritiesUnrealizedGainLossus-gaap:InvestmentsMember2025-01-012025-06-300001396440us-gaap:InvestmentsMember2025-06-300001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-06-300001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-06-300001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-06-300001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-06-300001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-06-300001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-06-300001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-06-300001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-06-300001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2026-06-300001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2026-06-300001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2026-06-300001396440us-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2026-06-300001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001396440main:LowerMiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001396440main:PrivateLoanPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001396440main:MiddleMarketPortfolioMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001396440us-gaap:OtherAggregatedInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel1Member2025-12-310001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel2Member2025-12-310001396440main:ExternalInvestmentManagerInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:FairValueInputsLevel3Member2025-12-310001396440us-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2025-12-310001396440main:LowerMiddleMarketPortfolioMembersrt:MinimumMember2026-01-012026-06-300001396440main:LowerMiddleMarketPortfolioMembersrt:MaximumMember2026-01-012026-06-300001396440main:LowerMiddleMarketPortfolioMembersrt:MinimumMember2026-06-300001396440main:LowerMiddleMarketPortfolioMembersrt:MaximumMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:LowerMiddleMarketPortfolioMembersrt:MinimumMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMembermain:LowerMiddleMarketPortfolioMembersrt:MaximumMember2026-01-012026-06-300001396440main:PrivateLoanPortfolioMembersrt:MinimumMember2026-01-012026-06-300001396440main:PrivateLoanPortfolioMembersrt:MaximumMember2026-01-012026-06-300001396440main:PrivateLoanPortfolioMembersrt:MinimumMember2026-06-300001396440main:PrivateLoanPortfolioMembersrt:MaximumMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:PrivateLoanPortfolioMembersrt:MinimumMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMembermain:PrivateLoanPortfolioMembersrt:MaximumMember2026-01-012026-06-300001396440main:MiddleMarketPortfolioMembersrt:MinimumMember2026-06-300001396440main:MiddleMarketPortfolioMembersrt:MaximumMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:MiddleMarketPortfolioMembersrt:MinimumMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMembermain:MiddleMarketPortfolioMembersrt:MaximumMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMemberus-gaap:OtherAggregatedInvestmentsMembersrt:MinimumMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMemberus-gaap:OtherAggregatedInvestmentsMembersrt:MaximumMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMemberus-gaap:ShortTermInvestmentsMembersrt:MaximumMember2026-01-012026-06-300001396440main:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2026-04-012026-06-300001396440main:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2025-04-012025-06-300001396440main:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2026-01-012026-06-300001396440main:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2025-01-012025-06-300001396440main:LowerMiddleMarketPortfolioMember2026-06-300001396440main:PrivateLoanPortfolioMember2026-06-300001396440us-gaap:DebtSecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:DebtSecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:NonperformingFinancingReceivableMembermain:LowerMiddleMarketPortfolioMember2026-06-300001396440us-gaap:NonperformingFinancingReceivableMembermain:PrivateLoanPortfolioMember2026-06-300001396440main:LowerMiddleMarketPortfolioMember2025-12-310001396440main:PrivateLoanPortfolioMember2025-12-310001396440us-gaap:DebtSecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:DebtSecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:LowerMiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:PrivateLoanPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:NonperformingFinancingReceivableMembermain:LowerMiddleMarketPortfolioMember2025-12-310001396440us-gaap:NonperformingFinancingReceivableMembermain:PrivateLoanPortfolioMember2025-12-310001396440main:LowerMiddleMarketPortfolioMember2025-01-012025-12-310001396440main:PrivateLoanPortfolioMember2025-01-012025-12-310001396440us-gaap:OtherAggregatedInvestmentsMember2026-06-300001396440main:InvestmentTypeConcentrationRiskMemberus-gaap:OtherAggregatedInvestmentsMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:OtherAggregatedInvestmentsMember2025-12-310001396440main:InvestmentTypeConcentrationRiskMemberus-gaap:OtherAggregatedInvestmentsMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:InvestmentTypeConcentrationRiskMembermain:MiddleMarketPortfolioMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:MiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:MiddleMarketPortfolioMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:InvestmentTypeConcentrationRiskMembermain:MiddleMarketPortfolioMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ExternalInvestmentManagerInvestmentsMember2026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:ExternalInvestmentManagerInvestmentsMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:ExternalInvestmentManagerInvestmentsMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ExternalInvestmentManagerInvestmentsMember2025-12-310001396440main:InvestmentTypeConcentrationRiskMembermain:ExternalInvestmentManagerInvestmentsMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:InvestmentTypeConcentrationRiskMembermain:ExternalInvestmentManagerInvestmentsMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-3100013964402025-01-012025-12-310001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:DebtSecuritiesSecondLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:DebtSecuritiesSecondLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:EquityWarrantMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:EquityWarrantMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:OtherAggregatedInvestmentsMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:OtherAggregatedInvestmentsMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:DebtSecuritiesFirstLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:EquitySecuritiesMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:DebtSecuritiesSecondLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:DebtSecuritiesSecondLienMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:EquityWarrantMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:EquityWarrantMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:OtherAggregatedInvestmentsMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:OtherAggregatedInvestmentsMembermain:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InvestmentTypeConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:WestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:WestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:MidwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:MidwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:SoutheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:SoutheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:SouthwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:SouthwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:NortheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:NortheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440country:CAus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440country:CAus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440us-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440us-gaap:WestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:WestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:MidwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:MidwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:SouthwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:SouthwestRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:SoutheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:SoutheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:NortheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:NortheastRegionMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440country:CAus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440country:CAus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:NonUsMemberus-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440us-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440us-gaap:GeographicConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ConstructionEngineeringMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ConstructionEngineeringMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:MachineryMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:MachineryMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ElectricalEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ElectricalEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:DiversifiedConsumerServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:DiversifiedConsumerServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:CommercialServicesSuppliesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:CommercialServicesSuppliesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:DistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:DistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ProfessionalServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ProfessionalServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:HealthCareProvidersServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:HealthCareProvidersServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:InternetSoftwareServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:InternetSoftwareServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:AerospaceDefenseMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:AerospaceDefenseMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ITServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ITServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ContainersPackagingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ContainersPackagingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:AutoComponentsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:AutoComponentsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:TobaccoMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:TobaccoMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:TextilesApparelLuxuryGoodsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:TextilesApparelLuxuryGoodsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:LeisureEquipmentProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:LeisureEquipmentProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ComputersPeripheralsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ComputersPeripheralsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:MediaMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:MediaMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:EnergyEquipmentServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:EnergyEquipmentServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:AirFreightLogisticsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:AirFreightLogisticsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:SpecialtyRetailMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:SpecialtyRetailMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:SoftwareMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:SoftwareMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:CommunicationsEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:CommunicationsEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:TradingCompaniesDistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:TradingCompaniesDistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:FoodProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:FoodProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:ChemicalsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:ChemicalsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:FoodStaplesRetailingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:FoodStaplesRetailingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:HotelsRestaurantsLeisureMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:HotelsRestaurantsLeisureMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:OilGasConsumableFuelsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:OilGasConsumableFuelsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:InternetCatalogRetailMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:InternetCatalogRetailMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:BeveragesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:BeveragesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:OtherMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:OtherMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2026-01-012026-06-300001396440main:IndustryConcentrationRiskMembermain:InvestmentOwnedAtCostMember2025-01-012025-12-310001396440main:MachineryMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:MachineryMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ConstructionEngineeringMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ConstructionEngineeringMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ElectricalEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ElectricalEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:DiversifiedConsumerServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:DiversifiedConsumerServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:DistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:DistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ProfessionalServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ProfessionalServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:CommercialServicesSuppliesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:CommercialServicesSuppliesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:HealthCareProvidersServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:HealthCareProvidersServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ComputersPeripheralsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ComputersPeripheralsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:AerospaceDefenseMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:AerospaceDefenseMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ContainersPackagingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ContainersPackagingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:AutoComponentsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:AutoComponentsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:InternetSoftwareServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:InternetSoftwareServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:TobaccoMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:TobaccoMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ITServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ITServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:SpecialtyRetailMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:SpecialtyRetailMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:SoftwareMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:SoftwareMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:MediaMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:MediaMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:EnergyEquipmentServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:EnergyEquipmentServicesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:TextilesApparelLuxuryGoodsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:TextilesApparelLuxuryGoodsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:AirFreightLogisticsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:AirFreightLogisticsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:CommunicationsEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:CommunicationsEquipmentMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:LeisureEquipmentProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:LeisureEquipmentProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:TradingCompaniesDistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:TradingCompaniesDistributorsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:ChemicalsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:ChemicalsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:FoodProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:FoodProductsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:FoodStaplesRetailingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:FoodStaplesRetailingMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:OilGasConsumableFuelsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:OilGasConsumableFuelsMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:BeveragesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:BeveragesMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:OtherMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:OtherMembermain:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2026-01-012026-06-300001396440main:IndustryConcentrationRiskMembermain:InvestmentOwnedAtFairValueMember2025-01-012025-12-310001396440main:AdvisoryAgreementPreviousMembermain:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2020-10-012020-10-310001396440main:AdvisoryAgreementActiveMembermain:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2025-01-292025-01-290001396440main:ExternalInvestmentManagerMember2026-04-012026-06-300001396440main:ExternalInvestmentManagerMember2025-04-012025-06-300001396440main:ExternalInvestmentManagerMember2026-01-012026-06-300001396440main:ExternalInvestmentManagerMember2025-01-012025-06-300001396440main:ExternalInvestmentManagerMember2026-06-300001396440main:ExternalInvestmentManagerMember2025-12-310001396440us-gaap:ManagementServiceBaseMembermain:ExternalInvestmentManagerMember2026-04-012026-06-300001396440us-gaap:ManagementServiceBaseMembermain:ExternalInvestmentManagerMember2025-04-012025-06-300001396440us-gaap:ManagementServiceBaseMembermain:ExternalInvestmentManagerMember2026-01-012026-06-300001396440us-gaap:ManagementServiceBaseMembermain:ExternalInvestmentManagerMember2025-01-012025-06-300001396440us-gaap:ManagementServiceIncentiveMembermain:ExternalInvestmentManagerMember2026-04-012026-06-300001396440us-gaap:ManagementServiceIncentiveMembermain:ExternalInvestmentManagerMember2025-04-012025-06-300001396440us-gaap:ManagementServiceIncentiveMembermain:ExternalInvestmentManagerMember2026-01-012026-06-300001396440us-gaap:ManagementServiceIncentiveMembermain:ExternalInvestmentManagerMember2025-01-012025-06-300001396440us-gaap:AdministrativeServiceMembermain:ExternalInvestmentManagerMember2026-04-012026-06-300001396440us-gaap:AdministrativeServiceMembermain:ExternalInvestmentManagerMember2025-04-012025-06-300001396440us-gaap:AdministrativeServiceMembermain:ExternalInvestmentManagerMember2026-01-012026-06-300001396440us-gaap:AdministrativeServiceMembermain:ExternalInvestmentManagerMember2025-01-012025-06-300001396440main:AdvisoryAgreementActiveMembermain:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2026-01-012026-06-300001396440main:AdvisoryAgreementActiveMembermain:ExternalInvestmentManagerMembersrt:AffiliatedEntityMember2025-01-012025-12-310001396440us-gaap:LineOfCreditMembermain:CorporateFacilityMemberus-gaap:RevolvingCreditFacilityMember2026-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMemberus-gaap:RevolvingCreditFacilityMember2026-06-300001396440us-gaap:LineOfCreditMembermain:CorporateFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-12-310001396440us-gaap:LineOfCreditMembermain:SPVFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-12-310001396440us-gaap:LineOfCreditMembermain:CorporateFacilityMemberus-gaap:RevolvingCreditFacilityMember2026-04-012026-06-300001396440us-gaap:LineOfCreditMembermain:CorporateFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-04-012025-06-300001396440us-gaap:LineOfCreditMembermain:CorporateFacilityMemberus-gaap:RevolvingCreditFacilityMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:CorporateFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-01-012025-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMemberus-gaap:RevolvingCreditFacilityMember2026-04-012026-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-04-012025-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMemberus-gaap:RevolvingCreditFacilityMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMemberus-gaap:RevolvingCreditFacilityMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:December2025NotesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:December2025NotesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:December2025NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:December2025NotesMember2025-01-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2026-04-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2025-04-012025-06-300001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2025-01-012025-06-300001396440srt:WeightedAverageMember2026-04-012026-06-300001396440srt:WeightedAverageMember2025-04-012025-06-300001396440srt:WeightedAverageMember2026-01-012026-06-300001396440srt:WeightedAverageMember2025-01-012025-06-300001396440main:CorporateFacilityMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembermain:CorporateFacilityMembersrt:MinimumMembermain:VariableRateComponentOneMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMemberus-gaap:RevolvingCreditFacilityMembermain:CorporateFacilityMembersrt:MinimumMembermain:VariableRateComponentTwoMember2026-01-012026-06-300001396440main:SPVFacilityMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMembermain:MSCCFundingILLCMemberus-gaap:RevolvingCreditFacilityMember2026-06-300001396440us-gaap:LineOfCreditMembermain:SPVFacilityMembermain:MSCCFundingILLCMemberus-gaap:RevolvingCreditFacilityMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:MSCCFundingILLCMemberus-gaap:RevolvingCreditFacilityMembermain:SPVFacilityMembermain:MarginEffectivePeriodOneMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:MSCCFundingILLCMemberus-gaap:RevolvingCreditFacilityMembermain:SPVFacilityMembermain:MarginEffectivePeriodTwoMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:MSCCFundingILLCMemberus-gaap:RevolvingCreditFacilityMembermain:SPVFacilityMembersrt:MinimumMember2026-01-012026-06-300001396440us-gaap:LineOfCreditMembermain:MSCCFundingILLCMemberus-gaap:RevolvingCreditFacilityMembermain:SPVFacilityMembersrt:MaximumMember2026-01-012026-06-300001396440main:MSCCFundingILLCMember2026-04-012026-06-300001396440main:MSCCFundingILLCMember2025-04-012025-06-300001396440main:MSCCFundingILLCMember2026-01-012026-06-300001396440main:MSCCFundingILLCMember2025-01-012025-06-300001396440main:MSCCFundingILLCMember2026-06-300001396440main:MSCCFundingILLCMember2025-12-310001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2024-01-310001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2024-01-012024-01-310001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2026-03-310001396440us-gaap:UnsecuredDebtMembermain:March2029NotesMember2026-03-012026-03-310001396440main:July2026NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2021-01-310001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2021-01-012021-01-310001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2021-10-310001396440us-gaap:UnsecuredDebtMembermain:July2026NotesMember2021-10-012021-10-310001396440main:June2027NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2024-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2024-06-012024-06-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesAdditionalMember2024-09-300001396440us-gaap:UnsecuredDebtMembermain:June2027NotesMember2024-09-012024-09-300001396440main:August2028NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2025-08-310001396440us-gaap:UnsecuredDebtMembermain:August2028NotesMember2025-08-012025-08-310001396440main:SBICDebenturesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMember2026-05-310001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMembermain:MainStreetMezzanineFundLPMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:SBICDebenturesMembermain:MainStreetCapitalIIILPMember2026-06-300001396440us-gaap:UnsecuredDebtMembermain:April2031NotesMember2026-04-080001396440main:December2025NotesMember2026-01-012026-06-300001396440us-gaap:UnsecuredDebtMembermain:December2025SeriesANotesMember2025-09-300001396440us-gaap:UnsecuredDebtMembermain:December2025SeriesBNotesMember2025-09-300001396440main:ExternalInvestmentManagerMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440main:ExternalInvestmentManagerMemberus-gaap:RelatedPartyMember2025-01-012025-06-300001396440main:O2026Q2RegularDividendsMember2026-04-012026-06-300001396440main:O2025Q2RegularDividendsMember2025-04-012025-06-300001396440main:O2026A2RegularDividendsMember2026-01-012026-06-300001396440main:O2025A2RegularDividendsMember2025-01-012025-06-300001396440main:O2026Q2SupplementalDividendsMember2026-04-012026-06-300001396440main:O2025Q2SupplementalDividendsMember2025-04-012025-06-300001396440main:O2026A2SupplementalDividendsMember2026-01-012026-06-300001396440main:O2025A2SupplementalDividendsMember2025-01-012025-06-300001396440main:AtTheMarketOfferingsMember2026-01-012026-06-300001396440srt:WeightedAverageMembermain:AtTheMarketOfferingsMember2026-06-300001396440main:AtTheMarketOfferingsMember2026-06-300001396440main:AtTheMarketOfferingsMember2025-01-012025-12-310001396440srt:WeightedAverageMembermain:AtTheMarketOfferingsMember2025-12-310001396440us-gaap:RestrictedStockMembersrt:MinimumMembermain:MainStreetCapitalCorporation2022EquityAndIncentivePlanMember2026-01-012026-06-300001396440us-gaap:RestrictedStockMembersrt:MaximumMembermain:MainStreetCapitalCorporation2022EquityAndIncentivePlanMember2026-01-012026-06-300001396440main:MainStreetCapitalCorporation2022EquityAndIncentivePlanMemberus-gaap:RestrictedStockMember2026-06-300001396440main:MainStreetCapitalCorporation2022EquityAndIncentivePlanMemberus-gaap:RestrictedStockMember2026-01-012026-06-300001396440us-gaap:RestrictedStockMembersrt:DirectorMembermain:MainStreetCapitalCorporation2022NonEmployeeDirectorRestrictedStockPlanMember2026-06-300001396440us-gaap:RestrictedStockMembersrt:DirectorMembermain:MainStreetCapitalCorporation2022NonEmployeeDirectorRestrictedStockPlanMember2026-01-012026-06-300001396440us-gaap:RestrictedStockMember2026-04-012026-06-300001396440us-gaap:RestrictedStockMember2025-04-012025-06-300001396440us-gaap:RestrictedStockMember2026-01-012026-06-300001396440us-gaap:RestrictedStockMember2025-01-012025-06-300001396440us-gaap:RestrictedStockMember2025-12-310001396440us-gaap:RestrictedStockMember2026-06-300001396440us-gaap:RestrictedStockMembersrt:MinimumMember2026-01-012026-06-300001396440us-gaap:RestrictedStockMembersrt:MaximumMember2026-01-012026-06-300001396440Brightwood Capital Fund V, LP2026-06-300001396440Brightwood Capital Fund III, LP2026-06-300001396440main:BrightwoodCapitalFundInvestmentsMemberus-gaap:EquitySecuritiesMember2026-06-300001396440EnCap Equity - Fund XII, LP2026-06-300001396440HPEP 5, L.P.2026-06-300001396440HPEP 4, L.P.2026-06-300001396440HPEP 3, L.P.2026-06-300001396440423 AER II, LP2026-06-3000013964402717 HPP-MS, LP2026-06-300001396440main:HarrisPrestonFundInvestmentsMemberus-gaap:EquitySecuritiesMember2026-06-300001396440MS Private Loan Fund II, LP 12026-06-300001396440UnionRock Energy Fund III, LP2026-06-300001396440UnionRock Energy Fund II, LP2026-06-300001396440main:UnionRockEnergyFundInvestmentsMemberus-gaap:EquitySecuritiesMember2026-06-300001396440us-gaap:EquitySecuritiesMember2026-06-300001396440Horwitz Holdings, LLC2026-06-300001396440CRC Evans USA Bidco, Inc.2026-06-300001396440MSC Income Fund, Inc.2026-06-300001396440Mission Critical Group2026-06-300001396440Creative Foam Corporation2026-06-300001396440Auria Space, LLC2026-06-300001396440MS Private Loan Fund II, LP2026-06-300001396440Core Transformers2026-06-300001396440Electro Technical Industries, LLC2026-06-300001396440Airo Purchaser, Inc.2026-06-300001396440Richardson Sales Solutions2026-06-300001396440South Coast Terminals Holdings, LLC2026-06-300001396440TEC Services, LLC2026-06-300001396440AVEX Aviation Holdings, LLC2026-06-300001396440Winter Services LLC2026-06-300001396440AGS American Glass Services Acquisition, LLC2026-06-300001396440SI East, LLC2026-06-300001396440GradeEight Corp.2026-06-300001396440PavCon LLC2026-06-300001396440Direct Marketing Solutions, Inc.2026-06-300001396440Hawk Ridge Systems, LLC2026-06-300001396440UBM AcquireCo LLC2026-06-300001396440CGMS Parent LLC2026-06-300001396440Infinity X1 Holdings, LLC2026-06-300001396440Chamberlin Holding LLC2026-06-300001396440Pro-Max Restoration & Paint, LLC2026-06-300001396440Microbe Formulas, LLC2026-06-300001396440MS Private Loan Fund I, LP2026-06-300001396440IG Investor, LLC2026-06-300001396440Garyline, LLC2026-06-300001396440Cody Pools, Inc.2026-06-300001396440Hornblower Sub, LLC2026-06-300001396440Rug Doctor, LLC.2026-06-300001396440ZRG Partners, LLC2026-06-300001396440Career Team Holdings, LLC2026-06-300001396440GS HVAM Intermediate, LLC2026-06-300001396440Nearshore AcquireCo, LLC2026-06-300001396440IG Parent Corporation2026-06-300001396440CQ Fluency, LLC2026-06-300001396440KMS, LLC2026-06-300001396440Revenue Recovery Holdings, LLC2026-06-300001396440Coregistics Buyer LLC2026-06-300001396440Iron-Main Investments, LLC2026-06-300001396440Pinnacle TopCo, LLC2026-06-300001396440Colonial Electric Company LLC2026-06-300001396440MCT Purchaserco Holding Inc.2026-06-300001396440Victory Energy Operations, LLC2026-06-300001396440Shift Transit ParentCo, LP2026-06-300001396440Watterson Brands, LLC2026-06-300001396440Clad-Rex Steel, LLC2026-06-300001396440Legacy Swim Group2026-06-300001396440B-O-F Corporation2026-06-300001396440Bond Brand Loyalty ULC2026-06-300001396440SPAU Holdings, LLC2026-06-300001396440American Health Staffing Group, Inc.2026-06-300001396440Gulf Manufacturing, LLC2026-06-300001396440RFG AcquireCo, LLC2026-06-300001396440Channel Partners Intermediateco, LLC2026-06-300001396440Escalent, Inc.2026-06-300001396440ATS Operating, LLC2026-06-300001396440Insight Borrower Corporation2026-06-300001396440Computer Data Source, LLC2026-06-300001396440Adams Publishing Group, LLC2026-06-300001396440Invincible Boat Company, LLC.2026-06-300001396440Behavior Development Group Holdings2026-06-300001396440Jensen Jewelers of Idaho, LLC2026-06-300001396440Roof Opco, LLC2026-06-300001396440GULF PACIFIC ACQUISITION, LLC2026-06-300001396440ArborWorks, LLC2026-06-300001396440Wash & Wax Systems LLC2026-06-300001396440Obra Capital, Inc.2026-06-300001396440Implus Footcare, LLC2026-06-300001396440Titan Meter Midco Corp.2026-06-300001396440us-gaap:DebtSecuritiesMember2026-06-300001396440Brightwood Capital Fund V, LP2025-12-310001396440Brightwood Capital Fund III, LP2025-12-310001396440main:BrightwoodCapitalFundInvestmentsMemberus-gaap:EquitySecuritiesMember2025-12-310001396440EnCap Equity - Fund XII, LP2025-12-310001396440HPEP 4, L.P.2025-12-310001396440HPEP 3, L.P.2025-12-310001396440423 AER II, LP2025-12-3100013964402717 HPP-MS, LP2025-12-310001396440main:HarrisPrestonFundInvestmentsMemberus-gaap:EquitySecuritiesMember2025-12-310001396440MS Private Loan Fund II, LP 12025-12-310001396440UnionRock Energy Fund III, LP2025-12-310001396440UnionRock Energy Fund II, LP2025-12-310001396440main:UnionRockEnergyFundInvestmentsMemberus-gaap:EquitySecuritiesMember2025-12-310001396440us-gaap:EquitySecuritiesMember2025-12-310001396440Royal Cup Inc.2025-12-310001396440Auria Space, LLC2025-12-310001396440CRC Evans USA Bidco, Inc.2025-12-310001396440Mission Critical Group2025-12-310001396440TEC Services, LLC2025-12-310001396440Creative Foam Corporation2025-12-310001396440ZRG Partners, LLC2025-12-310001396440MS Private Loan Fund II, LP 22025-12-310001396440Core Transformers2025-12-310001396440Flame King Holdings, LLC2025-12-310001396440Airo Purchaser, Inc.2025-12-310001396440South Coast Terminals Holdings, LLC2025-12-310001396440Richardson Sales Solutions2025-12-310001396440AVEX Aviation Holdings, LLC2025-12-310001396440AGS American Glass Services Acquisition, LLC2025-12-310001396440BP Loenbro Holdings Inc.2025-12-310001396440MCT Purchaserco Holding Inc.2025-12-310001396440SI East, LLC2025-12-310001396440Garyline, LLC2025-12-310001396440GradeEight Corp.2025-12-310001396440Gulf Manufacturing, LLC2025-12-310001396440Electro Technical Industries, LLC2025-12-310001396440Cody Pools, Inc.2025-12-310001396440UBM AcquireCo LLC2025-12-310001396440Chamberlin Holding LLC2025-12-310001396440CGMS Parent LLC2025-12-310001396440Microbe Formulas, LLC2025-12-310001396440SPAU Holdings, LLC2025-12-310001396440MS Private Loan Fund I, LP2025-12-310001396440KMS, LLC2025-12-310001396440Career Team Holdings, LLC2025-12-310001396440Bettercloud, Inc.2025-12-310001396440Victory Energy Operations, LLC2025-12-310001396440IG Parent Corporation2025-12-310001396440Nearshore AcquireCo, LLC2025-12-310001396440Centre Technologies Holdings, LLC2025-12-310001396440IG Investor, LLC2025-12-310001396440CQ Fluency, LLC2025-12-310001396440Titan Meter Midco Corp.2025-12-310001396440Bluestem Brands, Inc.2025-12-310001396440FRG AcquireCo, LLC2025-12-310001396440Revenue Recovery Holdings, LLC2025-12-310001396440Coregistics Buyer LLC2025-12-310001396440Rug Doctor, LLC.2025-12-310001396440CenterPeak Holdings, LLC2025-12-310001396440Pinnacle TopCo, LLC2025-12-310001396440Colonial Electric Company LLC2025-12-310001396440Trantech Radiator Topco, LLC2025-12-310001396440Winter Services LLC2025-12-310001396440Behavior Development Group Holdings2025-12-310001396440Escalent, Inc.2025-12-310001396440Gamber-Johnson Holdings, LLC2025-12-310001396440Clad-Rex Steel, LLC2025-12-310001396440B-O-F Corporation2025-12-310001396440Insight Borrower Corporation2025-12-310001396440Channel Partners Intermediateco, LLC2025-12-310001396440American Health Staffing Group, Inc.2025-12-310001396440RFG AcquireCo, LLC2025-12-310001396440Bond Brand Loyalty ULC2025-12-310001396440ATS Operating, LLC2025-12-310001396440AAC Holdings, Inc.2025-12-310001396440ArborWorks, LLC2025-12-310001396440Jensen Jewelers of Idaho, LLC2025-12-310001396440RA Outdoors LLC2025-12-310001396440Roof Opco, LLC2025-12-310001396440Mini Melts of America, LLC2025-12-310001396440Implus Footcare, LLC2025-12-310001396440Wash & Wax Systems LLC2025-12-310001396440GULF PACIFIC ACQUISITION, LLC2025-12-310001396440Obra Capital, Inc.2025-12-310001396440Hornblower Sub, LLC2025-12-310001396440Invincible Boat Company, LLC.2025-12-310001396440us-gaap:DebtSecuritiesMember2025-12-310001396440main:ExternalInvestmentManagerMemberus-gaap:RelatedPartyMember2026-06-300001396440main:OperatingExpensesAndAmountDueFromTaxSharingAgreementMembermain:ExternalInvestmentManagerMemberus-gaap:RelatedPartyMember2026-06-300001396440main:DividendsDeclaredButNotYetPaidMembermain:ExternalInvestmentManagerMemberus-gaap:RelatedPartyMember2026-06-300001396440main:MSCIncomeMemberus-gaap:RelatedPartyMember2026-06-300001396440main:MSCIncomeMember2025-01-310001396440main:UnsecuredRevolvingPromissoryNoteMembermain:MSCIncomeMemberus-gaap:RelatedPartyMember2026-01-012026-03-310001396440main:SecuredRevolvingPromissoryNoteMembermain:MSCIncomeMemberus-gaap:RelatedPartyMember2026-06-300001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIMemberus-gaap:RelatedPartyMember2020-12-012020-12-310001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIMemberus-gaap:RelatedPartyMember2022-02-012022-02-280001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440main:SecuredRevolvingPromissoryNoteMembermain:PrivateLoanFundIMemberus-gaap:RelatedPartyMember2022-03-012022-03-310001396440main:SecuredRevolvingPromissoryNoteMembermain:PrivateLoanFundIMemberus-gaap:RelatedPartyMember2026-06-300001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2023-09-012023-09-300001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2023-09-300001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440main:InvestmentManagementAgreementMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2026-06-300001396440main:SecuredRevolvingPromissoryNoteMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2024-11-012024-11-300001396440main:SecuredRevolvingPromissoryNoteMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2026-06-300001396440main:The2015DeferredCompensationPlanMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440us-gaap:PhantomShareUnitsPSUsMembermain:The2015DeferredCompensationPlanMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440main:The2015DeferredCompensationPlanMemberus-gaap:CommonStockMemberus-gaap:RelatedPartyMember2026-06-300001396440main:RabbiTrustMembermain:The2015DeferredCompensationPlanMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440main:RabbiTrustMembermain:The2015DeferredCompensationPlanMembermain:PrivateLoanFundIMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440main:RabbiTrustMembermain:The2015DeferredCompensationPlanMembermain:PrivateLoanFundIIMemberus-gaap:RelatedPartyMember2026-01-012026-06-300001396440us-gaap:SubsequentEventMembermain:O2026Q3SupplementalDividendsMember2026-08-012026-08-070001396440us-gaap:SubsequentEventMembermain:O2026M4DividendsMember2026-08-012026-08-070001396440us-gaap:SubsequentEventMembermain:O2026M5DividendsMember2026-08-012026-08-070001396440us-gaap:SubsequentEventMembermain:O2026M6DividendsMember2026-08-012026-08-070001396440srt:ScenarioForecastMembermain:O2026Q3DividendsMember2026-07-012026-09-300001396440srt:ScenarioForecastMembermain:O2026Q3IncludingSupplementalDividendsMember2026-07-012026-09-300001396440us-gaap:SubsequentEventMembermain:O2026M7DividendsMember2026-08-012026-08-070001396440us-gaap:SubsequentEventMembermain:O2026M8DividendsMember2026-08-012026-08-070001396440us-gaap:SubsequentEventMembermain:O2026M9DividendsMember2026-08-012026-08-070001396440srt:ScenarioForecastMembermain:O2026Q4DividendsMember2026-10-012026-12-3100013964402025-10-012025-12-310001396440srt:ScenarioForecastMembermain:O2026A4LifeToDateDividendsMember2007-10-012026-12-310001396440us-gaap:SubsequentEventMembermain:MSCIncomeMember2026-08-070001396440BDB Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440BDB Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Bettercloud, Inc. | Secured Debt2026-06-300001396440Bettercloud, Inc. | Secured Debt2026-01-012026-06-300001396440Bettercloud, Inc. | Common Equity2026-01-012026-06-300001396440Bettercloud, Inc. | Common Equity2026-06-300001396440Brewer Crane Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Brewer Crane Holdings, LLC | Preferred Member Units 12026-01-012026-06-300001396440Brewer Crane Holdings, LLC | Preferred Member Units 22026-01-012026-06-300001396440California Splendor Holdings LLC | Secured Debt 1.12026-06-300001396440California Splendor Holdings LLC | Secured Debt 1.12026-01-012026-06-300001396440California Splendor Holdings LLC | Secured Debt 1.12025-12-310001396440California Splendor Holdings LLC | Secured Debt 1.22026-01-012026-06-300001396440California Splendor Holdings LLC | Secured Debt 1.22025-12-310001396440California Splendor Holdings LLC | Secured Debt 1.22026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 1.12026-01-012026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 1.12025-12-310001396440California Splendor Holdings LLC | Preferred Member Units 1.12026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 1.22026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 1.22026-01-012026-06-300001396440California Splendor Holdings LLC | Preferred Member Units 1.22025-12-310001396440Clad-Rex Steel, LLC | Secured Debt 12026-01-012026-06-300001396440Clad-Rex Steel, LLC | Secured Debt 22026-01-012026-06-300001396440Clad-Rex Steel, LLC | Secured Debt 32026-01-012026-06-300001396440Clad-Rex Steel, LLC | Member Units 12026-01-012026-06-300001396440Clad-Rex Steel, LLC | Member Units 22026-01-012026-06-300001396440Cody Pools, Inc. | Secured Debt 12026-01-012026-06-300001396440Cody Pools, Inc. | Secured Debt 22026-01-012026-06-300001396440Cody Pools, Inc. | Preferred Member Units2026-01-012026-06-300001396440CompareNetworks Topco, LLC | Secured Debt2026-01-012026-06-300001396440CompareNetworks Topco, LLC | Preferred Member Units2026-01-012026-06-300001396440Compass Systems & Sales, LLC | Secured Debt 12026-01-012026-06-300001396440Compass Systems & Sales, LLC | Secured Debt 22026-01-012026-06-300001396440Compass Systems & Sales, LLC | Preferred Equity2026-01-012026-06-300001396440Cybermedia Technologies, LLC | Secured Debt 12026-01-012026-06-300001396440Cybermedia Technologies, LLC | Secured Debt 22026-01-012026-06-300001396440Cybermedia Technologies, LLC | Preferred Member Units2026-01-012026-06-300001396440Cybermedia Technologies, LLC | Preferred Equity2026-01-012026-06-300001396440Datacom, LLC | Secured Debt 12026-01-012026-06-300001396440Datacom, LLC | Secured Debt 22026-01-012026-06-300001396440Datacom, LLC | Preferred Member Units2026-01-012026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.12026-01-012026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.12025-12-310001396440Direct Marketing Solutions, Inc. | Secured Debt 1.12026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.22026-01-012026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.22025-12-310001396440Direct Marketing Solutions, Inc. | Secured Debt 1.22026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.32026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.32026-01-012026-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 1.32025-12-310001396440Direct Marketing Solutions, Inc. | Preferred Stock2026-01-012026-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440Gamber-Johnson Holdings, LLC | Member Units 12026-01-012026-06-300001396440Gamber-Johnson Holdings, LLC | Member Units 12025-12-310001396440Gamber-Johnson Holdings, LLC | Member Units 22026-01-012026-06-300001396440Gamber-Johnson Holdings, LLC | Member Units 22025-12-310001396440Garreco, LLC | Member Units2026-01-012026-06-300001396440GRT Rubber Technologies LLC | Secured Debt 12026-01-012026-06-300001396440GRT Rubber Technologies LLC | Secured Debt 22026-01-012026-06-300001396440GRT Rubber Technologies LLC | Member Units2026-01-012026-06-300001396440IG Investor, LLC | Secured Debt 12026-01-012026-06-300001396440IG Investor, LLC | Secured Debt 22026-01-012026-06-300001396440IG Investor, LLC | Common Equity2026-01-012026-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 12026-01-012026-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 22026-01-012026-06-300001396440Jensen Jewelers of Idaho, LLC | Member Units2026-01-012026-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12026-01-012026-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22026-01-012026-06-300001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2026-01-012026-06-300001396440Kickhaefer Manufacturing Company, LLC | Member Units2026-01-012026-06-300001396440MSC Adviser I, LLC | Member Units2026-01-012026-06-300001396440NRP Jones, LLC | Secured Debt2026-01-012026-06-300001396440NRP Jones, LLC | Member Units 12026-01-012026-06-300001396440NRP Jones, LLC | Member Units 22026-01-012026-06-300001396440NRP Jones, LLC | Preferred Equity2026-01-012026-06-300001396440NRP Jones, LLC | Common Equity2026-01-012026-06-300001396440OMi Topco, LLC | Secured Debt2026-01-012026-06-300001396440OMi Topco, LLC | Preferred Member Units2026-01-012026-06-300001396440Principle Environmental, LLC | Secured Debt2026-01-012026-06-300001396440Principle Environmental, LLC | Preferred Member Units2026-01-012026-06-300001396440Principle Environmental, LLC | Common Stock2026-01-012026-06-300001396440Quality Lease Service, LLC | Member Units2026-01-012026-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 12026-01-012026-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 22026-01-012026-06-300001396440Robbins Bros. Jewelry, Inc. | Preferred Equity2026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.12026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.12026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.12025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 1.22026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.22025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 1.22026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.32026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.32026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.32025-12-310001396440Trantech Radiator Topco, LLC | Common Stock2026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Common Equity2026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.42026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.42026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.42025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 1.52026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.52026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.52025-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 1.62026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.62026-01-012026-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 1.62025-12-310001396440Victory Energy Operations, LLC | Secured Debt 12026-01-012026-06-300001396440Victory Energy Operations, LLC | Secured Debt 22026-01-012026-06-300001396440Victory Energy Operations, LLC | Preferred Equity2026-01-012026-06-300001396440Volusion, LLC | Secured Debt2026-01-012026-06-300001396440Volusion, LLC | Preferred Member Units 1.12026-01-012026-06-300001396440Volusion, LLC | Preferred Member Units 1.12025-12-310001396440Volusion, LLC | Preferred Member Units 1.12026-06-300001396440Volusion, LLC | Preferred Member Units 1.22026-01-012026-06-300001396440Volusion, LLC | Preferred Member Units 1.22025-12-310001396440Volusion, LLC | Preferred Member Units 1.22026-06-300001396440Volusion, LLC | Common Stock2026-01-012026-06-300001396440Ziegler’s NYPD, LLC | Secured Debt 12026-01-012026-06-300001396440Ziegler’s NYPD, LLC | Secured Debt 22026-01-012026-06-300001396440Ziegler’s NYPD, LLC | Preferred Member Units2026-01-012026-06-300001396440American Nuts, LLC | Preferred Equity2026-01-012026-06-300001396440American Nuts, LLC | Secured Debt 1.12026-06-300001396440American Nuts, LLC | Secured Debt 1.12026-01-012026-06-300001396440American Nuts, LLC | Secured Debt 1.12025-12-310001396440American Nuts, LLC | Secured Debt 1.22026-06-300001396440American Nuts, LLC | Secured Debt 1.22026-01-012026-06-300001396440American Nuts, LLC | Secured Debt 1.22025-12-310001396440American Nuts, LLC | Secured Debt 1.32026-06-300001396440American Nuts, LLC | Secured Debt 1.32026-01-012026-06-300001396440American Nuts, LLC | Secured Debt 1.32025-12-310001396440Analytical Systems Keco Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 1.12026-01-012026-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 1.12025-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 1.12026-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 1.22026-01-012026-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 1.22025-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 1.22026-06-300001396440Analytical Systems Keco Holdings, LLC | Warrants2026-01-012026-06-300001396440ASC Interests, LLC | Secured Debt 12026-01-012026-06-300001396440ASC Interests, LLC | Secured Debt 12026-06-300001396440ASC Interests, LLC | Secured Debt 22026-01-012026-06-300001396440ASC Interests, LLC | Secured Debt 22026-06-300001396440ASC Interests, LLC | Preferred Member Units2026-01-012026-06-300001396440ASC Interests, LLC | Preferred Member Units2026-06-300001396440ASC Interests, LLC | Member Units2026-01-012026-06-300001396440ASC Interests, LLC | Member Units2026-06-300001396440Batjer TopCo, LLC | Secured Debt 1.12026-01-012026-06-300001396440Batjer TopCo, LLC | Secured Debt 1.12025-12-310001396440Batjer TopCo, LLC | Secured Debt 1.12026-06-300001396440Batjer TopCo, LLC | Secured Debt 1.22026-06-300001396440Batjer TopCo, LLC | Secured Debt 1.22026-01-012026-06-300001396440Batjer TopCo, LLC | Secured Debt 1.22025-12-310001396440Batjer TopCo, LLC | Preferred Stock2026-01-012026-06-300001396440Bolder Panther Group, LLC | Secured Debt 12026-06-300001396440Bolder Panther Group, LLC | Secured Debt 12026-01-012026-06-300001396440Bolder Panther Group, LLC | Secured Debt 12025-12-310001396440Bolder Panther Group, LLC | Class B Preferred Member Units2026-01-012026-06-300001396440Bolder Panther Group, LLC | Secured Debt 22026-01-012026-06-300001396440Bolder Panther Group, LLC | Secured Debt 22025-12-310001396440Bolder Panther Group, LLC | Secured Debt 22026-06-300001396440Bridge Capital Solutions Corporation | Preferred Member Units2026-01-012026-06-300001396440Bridge Capital Solutions Corporation | Warrants 12026-01-012026-06-300001396440Bridge Capital Solutions Corporation | Warrants 12025-12-310001396440Bridge Capital Solutions Corporation | Warrants 12026-06-300001396440Bridge Capital Solutions Corporation | Warrants 22026-01-012026-06-300001396440Bridge Capital Solutions Corporation | Warrants 22025-12-310001396440Bridge Capital Solutions Corporation | Warrants 22026-06-300001396440CBT Nuggets, LLC | Member Units2026-01-012026-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 12026-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 22026-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440Centre Technologies Holdings, LLC | Preferred Member Units2026-01-012026-06-300001396440Centre Technologies Holdings, LLC | Preferred Member Units2026-06-300001396440Chamberlin Holding LLC | Secured Debt 12026-01-012026-06-300001396440Chamberlin Holding LLC | Secured Debt 22026-01-012026-06-300001396440Chamberlin Holding LLC | Member Units 12026-01-012026-06-300001396440Chamberlin Holding LLC | Member Units 22026-01-012026-06-300001396440Charps, LLC | Unsecured Debt2026-01-012026-06-300001396440Charps, LLC | Preferred Member Units2026-01-012026-06-300001396440Colonial Electric Company LLC | Secured Debt 12026-01-012026-06-300001396440Colonial Electric Company LLC | Secured Debt 22026-01-012026-06-300001396440Colonial Electric Company LLC | Preferred Member Units2026-01-012026-06-300001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2026-01-012026-06-300001396440Digital Products Holdings LLC | Secured Debt2026-01-012026-06-300001396440Digital Products Holdings LLC | Preferred Member Units2026-01-012026-06-300001396440Doral Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440Doral Holdings, LLC | Secured Debt2026-06-300001396440Doral Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Doral Holdings, LLC | Secured Debt2025-12-310001396440Elgin AcquireCo, LLC | Secured Debt 12026-01-012026-06-300001396440Elgin AcquireCo, LLC | Secured Debt 22026-01-012026-06-300001396440Elgin AcquireCo, LLC | Secured Debt 32026-01-012026-06-300001396440Elgin AcquireCo, LLC | Common Stock 12026-01-012026-06-300001396440Elgin AcquireCo, LLC | Common Stock 22026-01-012026-06-300001396440Flame King Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440Flame King Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Flame King Holdings, LLC | Secured Debt2025-12-310001396440Flame King Holdings, LLC | Common Stock 2026-01-012026-06-300001396440Flame King Holdings, LLC | Common Stock 2025-12-310001396440Flame King Holdings, LLC | Common Stock 2026-06-300001396440Harris Preston Fund Investments | LP Interests (2717 MH, L.P.)2026-01-012026-06-300001396440Harris Preston Fund Investments | LP Interests (2717 HPP-MS, L.P.)2026-01-012026-06-300001396440Harris Preston Fund Investments | LP Interests (2717 GRE-LP, L.P.)2026-01-012026-06-300001396440Harris Preston Fund Investments | LP Interests (423 COR, L.P.)2026-01-012026-06-300001396440Harrison Hydra-Gen, Ltd. | Common Stock2026-01-012026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.12026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.12026-01-012026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.12025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.22026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.22026-01-012026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.22025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.32026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.32026-01-012026-06-300001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.32025-12-310001396440JTI Electrical & Mechanical, LLC | Common Equity2026-01-012026-06-300001396440JTI Electrical & Mechanical, LLC | Common Equity2025-12-310001396440JTI Electrical & Mechanical, LLC | Common Equity2026-06-300001396440JorVet Holdings, LLC | Secured Debt2026-01-012026-06-300001396440JorVet Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440KBK Industries, LLC | Member Units2026-01-012026-06-300001396440KBK Industries, LLC | Member Units2026-06-300001396440KBK Industries, LLC | Secured Debt 12026-01-012026-06-300001396440KBK Industries, LLC | Secured Debt 12025-12-310001396440KBK Industries, LLC | Secured Debt 12026-06-300001396440KBK Industries, LLC | Secured Debt 22026-01-012026-06-300001396440KBK Industries, LLC | Secured Debt 22025-12-310001396440KBK Industries, LLC | Secured Debt 22026-06-300001396440Legacy Swim Group | Secured Debt2026-06-300001396440Legacy Swim Group | Secured Debt2026-01-012026-06-300001396440Legacy Swim Group | Preferred Equity2026-01-012026-06-300001396440Legacy Swim Group | Secured Debt 2.12026-06-300001396440Legacy Swim Group | Secured Debt 2.12026-01-012026-06-300001396440Legacy Swim Group | Secured Debt 2.12025-12-310001396440Metalforming Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440Metalforming Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440Metalforming Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440Metalforming Holdings, LLC | Common Stock2026-01-012026-06-300001396440Moffitt Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Moffitt Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440MS Private Loan Fund I, LP | Secured Debt2026-01-012026-06-300001396440MS Private Loan Fund I, LP | LP Interests2026-01-012026-06-300001396440MS Private Loan Fund II, LP | Secured Debt2026-01-012026-06-300001396440MS Private Loan Fund II, LP | LP Interests2026-01-012026-06-300001396440MSC Income Fund, Inc. | Common Equity2026-01-012026-06-300001396440MSC Income Fund, Inc. | Secured Debt2026-01-012026-06-300001396440MSC Income Fund, Inc. | Secured Debt2025-12-310001396440MVI MSO, LLC | Secured Debt2026-01-012026-06-300001396440MVI MSO, LLC | Preferred Equity2026-01-012026-06-300001396440NAPCO Precast, LLC | Member Units 12026-01-012026-06-300001396440NAPCO Precast, LLC | Member Units 22026-01-012026-06-300001396440Nello Industries Investco, LLC | Secured Debt 12026-01-012026-06-300001396440Nello Industries Investco, LLC | Secured Debt 12025-12-310001396440Nello Industries Investco, LLC | Secured Debt 12026-06-300001396440Nello Industries Investco, LLC | Secured Debt 22026-06-300001396440Nello Industries Investco, LLC | Secured Debt 22026-01-012026-06-300001396440Nello Industries Investco, LLC | Secured Debt 22025-12-310001396440Nello Industries Investco, LLC | Preferred Equity2026-01-012026-06-300001396440NexRev LLC | Preferred Member Units2026-01-012026-06-300001396440NuStep, LLC | Secured Debt 1.12026-06-300001396440NuStep, LLC | Secured Debt 1.12026-01-012026-06-300001396440NuStep, LLC | Secured Debt 1.12025-12-310001396440NuStep, LLC | Secured Debt 1.22026-06-300001396440NuStep, LLC | Secured Debt 1.22026-01-012026-06-300001396440NuStep, LLC | Secured Debt 1.22025-12-310001396440NuStep, LLC | Preferred Member Units 1.12026-01-012026-06-300001396440NuStep, LLC | Preferred Member Units 1.12025-12-310001396440NuStep, LLC | Preferred Member Units 1.12026-06-300001396440NuStep, LLC | Preferred Member Units 1.22026-01-012026-06-300001396440NuStep, LLC | Preferred Member Units 1.22025-12-310001396440NuStep, LLC | Preferred Member Units 1.22026-06-300001396440Orttech Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440Orttech Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440Orttech Holdings, LLC | Preferred Stock2026-01-012026-06-300001396440Pinnacle TopCo, LLC | Secured Debt 12026-01-012026-06-300001396440Pinnacle TopCo, LLC | Secured Debt 22026-01-012026-06-300001396440Pinnacle TopCo, LLC | Preferred Equity2026-01-012026-06-300001396440PPL RVs, Inc. | Secured Debt 12026-01-012026-06-300001396440PPL RVs, Inc. | Secured Debt 22026-01-012026-06-300001396440PPL RVs, Inc. | Common Stock 12026-01-012026-06-300001396440PPL RVs, Inc. | Common Stock 22026-01-012026-06-300001396440River Aggregates, LLC | Member Units2026-01-012026-06-300001396440Spring Engineering Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Spring Engineering Holdings, LLC | Secured Debt2025-12-310001396440Spring Engineering Holdings, LLC | Preferred Member Units2026-01-012026-06-300001396440Spring Engineering Holdings, LLC | Preferred Member Units2025-12-310001396440Shift Transit ParentCo, LP | Preferred Equity2026-01-012026-06-300001396440Shift Transit ParentCo, LP | Preferred Equity2025-12-310001396440Shift Transit ParentCo, LP | Secured Debt 1.12026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 1.12026-01-012026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 1.12025-12-310001396440Shift Transit ParentCo, LP | Secured Debt 2.12026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 2.12026-01-012026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 2.12025-12-310001396440Shift Transit ParentCo, LP | Secured Debt 3.12026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 3.12026-01-012026-06-300001396440Shift Transit ParentCo, LP | Secured Debt 3.12025-12-310001396440Tedder Industries, LLC | Secured Debt 12026-01-012026-06-300001396440Tedder Industries, LLC | Secured Debt 22026-01-012026-06-300001396440Tedder Industries, LLC | Preferred Member Units 12026-01-012026-06-300001396440Tedder Industries, LLC | Preferred Member Units 22026-01-012026-06-300001396440Tedder Industries, LLC | Preferred Member Units 32026-01-012026-06-300001396440Televerde, LLC | Member Units2026-01-012026-06-300001396440Televerde, LLC | Preferred Stock2026-01-012026-06-300001396440Trinity Medical Holdings, LLC | Secured Debt2026-06-300001396440Trinity Medical Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Trinity Medical Holdings, LLC | Secured Debt2025-12-310001396440Trinity Medical Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440VVS Holdco LLC | Secured Debt 12026-01-012026-06-300001396440VVS Holdco LLC | Secured Debt 22026-01-012026-06-300001396440VVS Holdco LLC | Preferred Equity2026-01-012026-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12026-01-012026-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12025-12-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.12026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.12026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.12025-12-310001396440AAC Holdings, Inc. | Preferred Equity2026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.22026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.22026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.22025-12-310001396440AAC Holdings, Inc. | Secured Debt 1.32026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.32026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.32025-12-310001396440AAC Holdings, Inc. | Common Stock2026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.42026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.42026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.42025-12-310001396440AAC Holdings, Inc. | Secured Debt 1.52026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.52026-01-012026-06-300001396440AAC Holdings, Inc. | Secured Debt 1.52025-12-310001396440BLI Acquisition, LLC | Secured Debt2026-01-012026-06-300001396440BLI Acquisition, LLC | Secured Debt2025-12-310001396440BLI Acquisition, LLC | Member Units2026-01-012026-06-300001396440BLI Acquisition, LLC | Member Units2025-12-310001396440Boccella Precast Products LLC | Secured Debt2026-01-012026-06-300001396440Boccella Precast Products LLC | Member Units2026-01-012026-06-300001396440Buca C, LLC | Secured Debt 12026-01-012026-06-300001396440Buca C, LLC | Preferred Member Units2026-01-012026-06-300001396440Buca C, LLC | Secured Debt 22026-01-012026-06-300001396440Career Team Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440Career Team Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440Career Team Holdings, LLC | Common Stock2026-01-012026-06-300001396440CGMS Parent LLC | Secured Debt 1.12026-06-300001396440CGMS Parent LLC | Secured Debt 1.12026-01-012026-06-300001396440CGMS Parent LLC | Secured Debt 1.12025-12-310001396440CGMS Parent LLC | Secured Debt 1.22026-01-012026-06-300001396440CGMS Parent LLC | Secured Debt 1.22025-12-310001396440CGMS Parent LLC | Secured Debt 1.22026-06-300001396440CGMS Parent LLC | Preferred Equity2026-01-012026-06-300001396440Classic H&G Holdings, LLC | Preferred Member Units2026-01-012026-06-300001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2026-01-012026-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2026-01-012026-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2026-01-012026-06-300001396440DMA Industries, LLC | Secured Debt 1.12026-06-300001396440DMA Industries, LLC | Secured Debt 1.12026-01-012026-06-300001396440DMA Industries, LLC | Secured Debt 1.12025-12-310001396440DMA Industries, LLC | Preferred Equity 1.12026-01-012026-06-300001396440DMA Industries, LLC | Preferred Equity 1.12025-12-310001396440DMA Industries, LLC | Preferred Equity 1.12026-06-300001396440DMA Industries, LLC | Secured Debt 1.22026-06-300001396440DMA Industries, LLC | Secured Debt 1.22026-01-012026-06-300001396440DMA Industries, LLC | Secured Debt 1.22025-12-310001396440DMA Industries, LLC | Preferred Equity 1.22026-06-300001396440DMA Industries, LLC | Preferred Equity 1.22026-01-012026-06-300001396440DMA Industries, LLC | Preferred Equity 1.22025-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2026-01-012026-06-300001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2026-01-012026-06-300001396440Dos Rios Stone Products LLC | Class A Preferred Units2026-01-012026-06-300001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2026-01-012026-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt2026-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt2026-01-012026-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt2025-12-310001396440FCC Intermediate Holdco, LLC | Warrants2026-01-012026-06-300001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2026-01-012026-06-300001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2026-01-012026-06-300001396440FRG AcquireCo, LLC | Secured Debt 12026-01-012026-06-300001396440FRG AcquireCo, LLC | Secured Debt 22026-01-012026-06-300001396440FRG AcquireCo, LLC | Preferred Equity2026-01-012026-06-300001396440GFG Group, LLC | Secured Debt2026-01-012026-06-300001396440GFG Group, LLC | Preferred Member Units2026-01-012026-06-300001396440Gulf Manufacturing, LLC | Secured Debt 12026-01-012026-06-300001396440Gulf Manufacturing, LLC | Secured Debt 22026-01-012026-06-300001396440Gulf Manufacturing, LLC | Member Units2026-01-012026-06-300001396440Gulf Manufacturing, LLC | Common Stock2026-01-012026-06-300001396440Gulf Manufacturing, LLC | Preferred Equity2026-01-012026-06-300001396440Harris Preston Fund Investments | LP Interests (423 HAR, L.P.)2026-01-012026-06-300001396440Harris Preston Fund Investments | LP Interests (HPEP 3, L.P.)2026-01-012026-06-300001396440Harris Preston Fund Investments | LP Interests (HPEP 4, L.P.)2026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.12026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.12025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.12026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.22026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.22026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.22025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.32026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.32025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.32026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.42026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.42026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 1.42025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.12026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.12025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.12026-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.22026-01-012026-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.22025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.22026-06-300001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2026-01-012026-06-300001396440Houston Plating and Coatings, LLC | Member Units2026-01-012026-06-300001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2026-01-012026-06-300001396440Infinity X1 Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 1.12026-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 1.12026-01-012026-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 1.12025-12-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.22026-01-012026-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 1.22025-12-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.22026-06-300001396440Integral Energy Services | Secured Debt2026-01-012026-06-300001396440Integral Energy Services | Preferred Equity 12026-01-012026-06-300001396440Integral Energy Services | Common Stock2026-01-012026-06-300001396440Integral Energy Services | Preferred Equity 22026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.12026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.12025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.12026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.22026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.22025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.22026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.32026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.32025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.32026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.42026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.42025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.42026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.52026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.52025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.52026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.62026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.62026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.62025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.72026-01-012026-06-300001396440Iron-Main Investments, LLC | Secured Debt 1.72025-12-310001396440Iron-Main Investments, LLC | Secured Debt 1.72026-06-300001396440Iron-Main Investments, LLC | Common Stock2026-01-012026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.12026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.12026-01-012026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.12025-12-310001396440Iron-Main Investments, LLC | Preferred Equity 1.22026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.22026-01-012026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.22025-12-310001396440Iron-Main Investments, LLC | Preferred Equity 1.32026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.32026-01-012026-06-300001396440Iron-Main Investments, LLC | Preferred Equity 1.32025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.12026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.12026-01-012026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.12025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.22026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.22026-01-012026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.22025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.32026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.32026-01-012026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.32025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.42026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.42026-01-012026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.42025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.52026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.52026-01-012026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.52025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.62026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.62026-01-012026-06-300001396440ITA Holdings Group, LLC | Secured Debt 1.62025-12-310001396440ITA Holdings Group, LLC | Warrants2026-01-012026-06-300001396440CenterPeak Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440CenterPeak Holdings, LLC | Secured Debt 12026-06-300001396440CenterPeak Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440CenterPeak Holdings, LLC | Secured Debt 22026-06-300001396440CenterPeak Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440Kennedy Fab HoldCo, LLC | Secured Debt 12026-01-012026-06-300001396440Kennedy Fab HoldCo, LLC | Secured Debt 12025-12-310001396440Kennedy Fab HoldCo, LLC | Secured Debt 12026-06-300001396440Kennedy Fab HoldCo, LLC | Secured Debt 22026-01-012026-06-300001396440Kennedy Fab HoldCo, LLC | Secured Debt 22025-12-310001396440Kennedy Fab HoldCo, LLC | Secured Debt 22026-06-300001396440Kennedy Fab HoldCo, LLC | Secured Debt 32026-01-012026-06-300001396440Kennedy Fab HoldCo, LLC | Secured Debt 32025-12-310001396440Kennedy Fab HoldCo, LLC | Secured Debt 32026-06-300001396440Kennedy Fab HoldCo, LLC | Preferred Equity2026-01-012026-06-300001396440Kennedy Fab HoldCo, LLC | Preferred Equity2025-12-310001396440KMS, LLC | Secured Debt 1.12026-06-300001396440KMS, LLC | Secured Debt 1.12026-01-012026-06-300001396440KMS, LLC | Secured Debt 1.12025-12-310001396440KMS, LLC | Secured Debt 1.22026-06-300001396440KMS, LLC | Secured Debt 1.22026-01-012026-06-300001396440KMS, LLC | Secured Debt 1.22025-12-310001396440KMS, LLC | Preferred Equity2026-01-012026-06-300001396440KMS, LLC | Secured Debt 1.32026-06-300001396440KMS, LLC | Secured Debt 1.32026-01-012026-06-300001396440KMS, LLC | Secured Debt 1.32025-12-310001396440Mills Fleet Farm Group, LLC | Secured Debt 12026-01-012026-06-300001396440Mills Fleet Farm Group, LLC | Secured Debt 22026-01-012026-06-300001396440Mills Fleet Farm Group, LLC | Preferred Equity2026-01-012026-06-300001396440MoneyThumb Acquisition, LLC | Secured Debt2026-01-012026-06-300001396440MoneyThumb Acquisition, LLC | Preferred Member Units2026-01-012026-06-300001396440MoneyThumb Acquisition, LLC | Warrants2026-01-012026-06-300001396440Nearshore AcquireCo, LLC | Secured Debt 12026-01-012026-06-300001396440Nearshore AcquireCo, LLC | Secured Debt 22026-01-012026-06-300001396440Nearshore AcquireCo, LLC | Secured Debt 32026-01-012026-06-300001396440Nearshore AcquireCo, LLC | Preferred Equity2026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.12026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.12026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.12025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 1.22026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.22026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.22025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 1.32026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.32026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.32025-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 1.42026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.42026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 1.42025-12-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Preferred Stock2026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Common Stock2026-01-012026-06-300001396440OnAsset Intelligence, Inc. | Warrants2026-01-012026-06-300001396440Oneliance, LLC | Preferred Stock2026-01-012026-06-300001396440RA Outdoors LLC | Secured Debt 1.12026-06-300001396440RA Outdoors LLC | Secured Debt 1.12026-01-012026-06-300001396440RA Outdoors LLC | Secured Debt 1.12025-12-310001396440RA Outdoors LLC | Secured Debt 1.22026-06-300001396440RA Outdoors LLC | Secured Debt 1.22026-01-012026-06-300001396440RA Outdoors LLC | Secured Debt 1.22025-12-310001396440RA Outdoors LLC | Secured Debt 1.32026-06-300001396440RA Outdoors LLC | Secured Debt 1.32026-01-012026-06-300001396440RA Outdoors LLC | Secured Debt 1.32025-12-310001396440RA Outdoors LLC | Secured Debt 1.42026-06-300001396440RA Outdoors LLC | Secured Debt 1.42026-01-012026-06-300001396440RA Outdoors LLC | Secured Debt 1.42025-12-310001396440Revenue Recovery Holdings, LLC | Secured Debt 12026-01-012026-06-300001396440Revenue Recovery Holdings, LLC | Secured Debt 22026-01-012026-06-300001396440Revenue Recovery Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.12026-01-012026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.12025-12-310001396440RFG AcquireCo, LLC | Secured Debt 1.12026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.22026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.22026-01-012026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.22025-12-310001396440RFG AcquireCo, LLC | Secured Debt 1.32026-01-012026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.32025-12-310001396440RFG AcquireCo, LLC | Secured Debt 1.32026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.42026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.42026-01-012026-06-300001396440RFG AcquireCo, LLC | Secured Debt 1.42025-12-310001396440RFG AcquireCo, LLC | Preferred Equity2026-01-012026-06-300001396440SI East, LLC | Secured Debt 12026-01-012026-06-300001396440SI East, LLC | Secured Debt 22026-01-012026-06-300001396440SI East, LLC | Preferred Member Units2026-01-012026-06-300001396440Slick Innovations, LLC | Secured Debt2026-01-012026-06-300001396440Slick Innovations, LLC | Common Stock2026-01-012026-06-300001396440Specialized Aviation Holdings, LLC | Secured Debt2026-01-012026-06-300001396440Specialized Aviation Holdings, LLC | Preferred Stock2026-01-012026-06-300001396440Student Resource Center, LLC | Secured Debt 1.12026-06-300001396440Student Resource Center, LLC | Secured Debt 1.12026-01-012026-06-300001396440Student Resource Center, LLC | Secured Debt 1.12025-12-310001396440Student Resource Center, LLC | Secured Debt 1.22026-06-300001396440Student Resource Center, LLC | Secured Debt 1.22026-01-012026-06-300001396440Student Resource Center, LLC | Secured Debt 1.22025-12-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2026-01-012026-06-300001396440The Affiliati Network, LLC | Preferred Stock 1.12026-01-012026-06-300001396440The Affiliati Network, LLC | Preferred Stock 1.12025-12-310001396440The Affiliati Network, LLC | Preferred Stock 1.12026-06-300001396440The Affiliati Network, LLC | Preferred Stock 1.22026-01-012026-06-300001396440The Affiliati Network, LLC | Preferred Stock 1.22025-12-310001396440The Affiliati Network, LLC | Preferred Stock 1.22026-06-300001396440UnionRock Energy Fund II, LP | LP Interests2026-01-012026-06-300001396440UnionRock Energy Fund III, LP | LP Interests2026-01-012026-06-300001396440UniTek Global Services, Inc. | Preferred Stock 12026-01-012026-06-300001396440UniTek Global Services, Inc. | Preferred Stock 22026-01-012026-06-300001396440UniTek Global Services, Inc. | Preferred Stock 32026-01-012026-06-300001396440Urgent DSO LLC | Secured Debt2026-01-012026-06-300001396440Urgent DSO LLC | Preferred Equity2026-01-012026-06-300001396440Wildcats Topco LLC | Common Equity2026-01-012026-06-300001396440World Micro Holdings, LLC | Secured Debt2026-01-012026-06-300001396440World Micro Holdings, LLC | Preferred Equity2026-01-012026-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 22026-01-012026-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 22025-12-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 22026-06-300001396440us-gaap:MidwestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-06-300001396440us-gaap:MidwestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-06-300001396440main:NortheastRegionAndCanadaMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-06-300001396440main:NortheastRegionAndCanadaMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-06-300001396440us-gaap:SoutheastRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-06-300001396440us-gaap:SoutheastRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-06-300001396440us-gaap:SouthwestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-06-300001396440us-gaap:SouthwestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-06-300001396440us-gaap:WestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2026-06-300001396440us-gaap:WestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2026-06-300001396440Analytical Systems Keco Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Analytical Systems Keco Holdings, LLC | Secured Debt 12024-12-310001396440Analytical Systems Keco Holdings, LLC | Secured Debt 12025-06-300001396440Analytical Systems Keco Holdings, LLC | Secured Debt 22025-06-300001396440Analytical Systems Keco Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Analytical Systems Keco Holdings, LLC | Secured Debt 22024-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 12025-01-012025-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 12024-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 12025-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 22025-01-012025-06-300001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 22024-12-310001396440Analytical Systems Keco Holdings, LLC | Preferred Member Units 22025-06-300001396440Analytical Systems Keco Holdings, LLC |Warrants2025-01-012025-06-300001396440Analytical Systems Keco Holdings, LLC |Warrants2024-12-310001396440Analytical Systems Keco Holdings, LLC |Warrants2025-06-300001396440BDB Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440BDB Holdings, LLC | Preferred Equity2024-12-310001396440BDB Holdings, LLC | Preferred Equity2025-06-300001396440BDB Holdings, LLC | Secured Debt2025-06-300001396440BDB Holdings, LLC | Secured Debt2025-01-012025-06-300001396440BDB Holdings, LLC | Secured Debt2024-12-310001396440Brewer Crane Holdings, LLC | Secured Debt2025-06-300001396440Brewer Crane Holdings, LLC | Secured Debt2025-01-012025-06-300001396440Brewer Crane Holdings, LLC | Secured Debt2024-12-310001396440Brewer Crane Holdings, LLC | Preferred Member Units 2025-01-012025-06-300001396440Brewer Crane Holdings, LLC | Preferred Member Units 2024-12-310001396440Brewer Crane Holdings, LLC | Preferred Member Units 2025-06-300001396440Café Brazil, LLC | Member Units2025-01-012025-06-300001396440Café Brazil, LLC | Member Units2024-12-310001396440Café Brazil, LLC | Member Units2025-06-300001396440California Splendor Holdings LLC | Secured Debt 12025-06-300001396440California Splendor Holdings LLC | Secured Debt 12025-01-012025-06-300001396440California Splendor Holdings LLC | Secured Debt 12024-12-310001396440California Splendor Holdings LLC | Secured Debt 22025-01-012025-06-300001396440California Splendor Holdings LLC | Secured Debt 22024-12-310001396440California Splendor Holdings LLC | Secured Debt 22025-06-300001396440California Splendor Holdings LLC | Preferred Member Units 12025-01-012025-06-300001396440California Splendor Holdings LLC | Preferred Member Units 12024-12-310001396440California Splendor Holdings LLC | Preferred Member Units 12025-06-300001396440California Splendor Holdings LLC | Preferred Member Units 22025-06-300001396440California Splendor Holdings LLC | Preferred Member Units 22025-01-012025-06-300001396440California Splendor Holdings LLC | Preferred Member Units 22024-12-310001396440Clad-Rex Steel, LLC | Secured Debt 12025-01-012025-06-300001396440Clad-Rex Steel, LLC | Secured Debt 12024-12-310001396440Clad-Rex Steel, LLC | Secured Debt 12025-06-300001396440Clad-Rex Steel, LLC | Secured Debt 22025-06-300001396440Clad-Rex Steel, LLC | Secured Debt 22025-01-012025-06-300001396440Clad-Rex Steel, LLC | Secured Debt 22024-12-310001396440Clad-Rex Steel, LLC | Secured Debt 32025-06-300001396440Clad-Rex Steel, LLC | Secured Debt 32025-01-012025-06-300001396440Clad-Rex Steel, LLC | Secured Debt 32024-12-310001396440Clad-Rex Steel, LLC | Member Units 12025-01-012025-06-300001396440Clad-Rex Steel, LLC | Member Units 12024-12-310001396440Clad-Rex Steel, LLC | Member Units 12025-06-300001396440Clad-Rex Steel, LLC | Member Units 22025-01-012025-06-300001396440Clad-Rex Steel, LLC | Member Units 22024-12-310001396440Clad-Rex Steel, LLC | Member Units 22025-06-300001396440Cody Pools, Inc. | Secured Debt 12025-06-300001396440Cody Pools, Inc. | Secured Debt 12025-01-012025-06-300001396440Cody Pools, Inc. | Secured Debt 12024-12-310001396440Cody Pools, Inc. | Secured Debt 22025-06-300001396440Cody Pools, Inc. | Secured Debt 22025-01-012025-06-300001396440Cody Pools, Inc. | Secured Debt 22024-12-310001396440Cody Pools, Inc. | Preferred Member Units2025-01-012025-06-300001396440Cody Pools, Inc. | Preferred Member Units2024-12-310001396440Cody Pools, Inc. | Preferred Member Units2025-06-300001396440CompareNetworks Topco, LLC | Secured Debt2025-06-300001396440CompareNetworks Topco, LLC | Secured Debt2025-01-012025-06-300001396440CompareNetworks Topco, LLC | Secured Debt2024-12-310001396440CompareNetworks Topco, LLC | Preferred Member Units2025-01-012025-06-300001396440CompareNetworks Topco, LLC | Preferred Member Units2024-12-310001396440CompareNetworks Topco, LLC | Preferred Member Units2025-06-300001396440Cybermedia Technologies, LLC | Secured Debt 12025-01-012025-06-300001396440Cybermedia Technologies, LLC | Secured Debt 12024-12-310001396440Cybermedia Technologies, LLC | Secured Debt 12025-06-300001396440Cybermedia Technologies, LLC | Secured Debt 22025-06-300001396440Cybermedia Technologies, LLC | Secured Debt 22025-01-012025-06-300001396440Cybermedia Technologies, LLC | Secured Debt 22024-12-310001396440Cybermedia Technologies, LLC | Preferred Member Units2025-01-012025-06-300001396440Cybermedia Technologies, LLC | Preferred Member Units2024-12-310001396440Cybermedia Technologies, LLC | Preferred Member Units2025-06-300001396440Cybermedia Technologies, LLC | Preferred Equity2025-01-012025-06-300001396440Cybermedia Technologies, LLC | Preferred Equity2024-12-310001396440Cybermedia Technologies, LLC | Preferred Equity2025-06-300001396440Datacom, LLC | Secured Debt 12025-06-300001396440Datacom, LLC | Secured Debt 12025-01-012025-06-300001396440Datacom, LLC | Secured Debt 12024-12-310001396440Datacom, LLC | Secured Debt 22025-06-300001396440Datacom, LLC | Secured Debt 22025-01-012025-06-300001396440Datacom, LLC | Secured Debt 22024-12-310001396440Datacom, LLC | Preferred Member Units2025-01-012025-06-300001396440Datacom, LLC | Preferred Member Units2024-12-310001396440Datacom, LLC | Preferred Member Units2025-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 12025-01-012025-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 12024-12-310001396440Direct Marketing Solutions, Inc. | Secured Debt 12025-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 22025-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 22025-01-012025-06-300001396440Direct Marketing Solutions, Inc. | Secured Debt 22024-12-310001396440Direct Marketing Solutions, Inc. | Preferred Stock2025-01-012025-06-300001396440Direct Marketing Solutions, Inc. | Preferred Stock2024-12-310001396440Direct Marketing Solutions, Inc. | Preferred Stock2025-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 12025-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 12024-12-310001396440Gamber-Johnson Holdings, LLC | Secured Debt 22025-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Gamber-Johnson Holdings, LLC | Secured Debt 22024-12-310001396440Gamber-Johnson Holdings, LLC | Member Units2025-01-012025-06-300001396440Gamber-Johnson Holdings, LLC | Member Units2024-12-310001396440Gamber-Johnson Holdings, LLC | Member Units2025-06-300001396440Garreco, LLC | Member Units2025-01-012025-06-300001396440Garreco, LLC | Member Units2024-12-310001396440Garreco, LLC | Member Units2025-06-300001396440GRT Rubber Technologies LLC | Secured Debt 12025-06-300001396440GRT Rubber Technologies LLC | Secured Debt 12025-01-012025-06-300001396440GRT Rubber Technologies LLC | Secured Debt 12024-12-310001396440GRT Rubber Technologies LLC | Secured Debt 22025-06-300001396440GRT Rubber Technologies LLC | Secured Debt 22025-01-012025-06-300001396440GRT Rubber Technologies LLC | Secured Debt 22024-12-310001396440GRT Rubber Technologies LLC | Member Units2025-01-012025-06-300001396440GRT Rubber Technologies LLC | Member Units2024-12-310001396440GRT Rubber Technologies LLC | Member Units2025-06-300001396440Gulf Publishing Holdings, LLC | Secured Debt 12025-06-300001396440Gulf Publishing Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Gulf Publishing Holdings, LLC | Secured Debt 12024-12-310001396440Gulf Publishing Holdings, LLC | Secured Debt 22025-06-300001396440Gulf Publishing Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Gulf Publishing Holdings, LLC | Secured Debt 22024-12-310001396440Gulf Publishing Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440Gulf Publishing Holdings, LLC | Preferred Equity2024-12-310001396440Gulf Publishing Holdings, LLC | Preferred Equity2025-06-300001396440Gulf Publishing Holdings, LLC | Member Units2025-01-012025-06-300001396440Gulf Publishing Holdings, LLC | Member Units2024-12-310001396440Gulf Publishing Holdings, LLC | Member Units2025-06-300001396440IG Investor, LLC | Secured Debt 12025-06-300001396440IG Investor, LLC | Secured Debt 12025-01-012025-06-300001396440IG Investor, LLC | Secured Debt 12024-12-310001396440IG Investor, LLC | Secured Debt 22025-06-300001396440IG Investor, LLC | Secured Debt 22025-01-012025-06-300001396440IG Investor, LLC | Secured Debt 22024-12-310001396440IG Investor, LLC | Common Equity2025-01-012025-06-300001396440IG Investor, LLC | Common Equity2024-12-310001396440IG Investor, LLC | Common Equity2025-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 12025-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 12025-01-012025-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 12024-12-310001396440Jensen Jewelers of Idaho, LLC | Secured Debt 22025-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 22025-01-012025-06-300001396440Jensen Jewelers of Idaho, LLC | Secured Debt 22024-12-310001396440Jensen Jewelers of Idaho, LLC | Member Units2025-01-012025-06-300001396440Jensen Jewelers of Idaho, LLC | Member Units2024-12-310001396440Jensen Jewelers of Idaho, LLC | Member Units2025-06-300001396440MSC Adviser I, LLC | Member Units2025-01-012025-06-300001396440MSC Adviser I, LLC | Member Units2024-12-310001396440MSC Adviser I, LLC | Member Units2025-06-300001396440Mystic Logistics Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Mystic Logistics Holdings, LLC | Secured Debt 12024-12-310001396440Mystic Logistics Holdings, LLC | Secured Debt 12025-06-300001396440Mystic Logistics Holdings, LLC | Secured Debt 22025-06-300001396440Mystic Logistics Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Mystic Logistics Holdings, LLC | Secured Debt 22024-12-310001396440Mystic Logistics Holdings, LLC | Common Stock2025-01-012025-06-300001396440Mystic Logistics Holdings, LLC | Common Stock2024-12-310001396440Mystic Logistics Holdings, LLC | Common Stock2025-06-300001396440NRP Jones, LLC | Secured Debt2025-06-300001396440NRP Jones, LLC | Secured Debt2025-01-012025-06-300001396440NRP Jones, LLC | Secured Debt2024-12-310001396440NRP Jones, LLC | Member Units 12025-01-012025-06-300001396440NRP Jones, LLC | Member Units 12024-12-310001396440NRP Jones, LLC | Member Units 12025-06-300001396440NRP Jones, LLC | Member Units 22025-01-012025-06-300001396440NRP Jones, LLC | Member Units 22024-12-310001396440NRP Jones, LLC | Member Units 22025-06-300001396440NRP Jones, LLC | Preferred Equity2025-01-012025-06-300001396440NRP Jones, LLC | Preferred Equity2024-12-310001396440NRP Jones, LLC | Preferred Equity2025-06-300001396440NRP Jones, LLC | Common Equity2025-01-012025-06-300001396440NRP Jones, LLC | Common Equity2024-12-310001396440NRP Jones, LLC | Common Equity2025-06-300001396440OMi Topco, LLC | Secured Debt 12025-01-012025-06-300001396440OMi Topco, LLC | Secured Debt 12024-12-310001396440OMi Topco, LLC | Secured Debt 12025-06-300001396440OMi Topco, LLC | Secured Debt 22025-01-012025-06-300001396440OMi Topco, LLC | Secured Debt 22024-12-310001396440OMi Topco, LLC | Secured Debt 22025-06-300001396440OMi Topco, LLC | Secured Debt 32025-06-300001396440OMi Topco, LLC | Secured Debt 32025-01-012025-06-300001396440OMi Topco, LLC | Secured Debt 32024-12-310001396440OMi Topco, LLC | Preferred Member Units2025-01-012025-06-300001396440OMi Topco, LLC | Preferred Member Units2024-12-310001396440OMi Topco, LLC | Preferred Member Units2025-06-300001396440PPL RVs, Inc. | Secured Debt 12025-06-300001396440PPL RVs, Inc. | Secured Debt 12025-01-012025-06-300001396440PPL RVs, Inc. | Secured Debt 12024-12-310001396440PPL RVs, Inc. | Secured Debt 22025-06-300001396440PPL RVs, Inc. | Secured Debt 22025-01-012025-06-300001396440PPL RVs, Inc. | Secured Debt 22024-12-310001396440PPL RVs, Inc. | Common Stock 12025-01-012025-06-300001396440PPL RVs, Inc. | Common Stock 12024-12-310001396440PPL RVs, Inc. | Common Stock 12025-06-300001396440PPL RVs, Inc. | Common Stock 22025-01-012025-06-300001396440PPL RVs, Inc. | Common Stock 22024-12-310001396440PPL RVs, Inc. | Common Stock 22025-06-300001396440Principle Environmental, LLC | Secured Debt2025-06-300001396440Principle Environmental, LLC | Secured Debt2025-01-012025-06-300001396440Principle Environmental, LLC | Secured Debt2024-12-310001396440Principle Environmental, LLC | Preferred Member Units2025-01-012025-06-300001396440Principle Environmental, LLC | Preferred Member Units2024-12-310001396440Principle Environmental, LLC | Preferred Member Units2025-06-300001396440Principle Environmental, LLC | Common Stock2025-01-012025-06-300001396440Principle Environmental, LLC | Common Stock2024-12-310001396440Principle Environmental, LLC | Common Stock2025-06-300001396440Quality Lease Service, LLC | Member Units2025-01-012025-06-300001396440Quality Lease Service, LLC | Member Units2024-12-310001396440Quality Lease Service, LLC | Member Units2025-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 12025-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 12025-01-012025-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 12024-12-310001396440Robbins Bros. Jewelry, Inc. | Secured Debt 22025-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 22025-01-012025-06-300001396440Robbins Bros. Jewelry, Inc. | Secured Debt 22024-12-310001396440Robbins Bros. Jewelry, Inc. | Preferred Equity2025-01-012025-06-300001396440Robbins Bros. Jewelry, Inc. | Preferred Equity2024-12-310001396440Robbins Bros. Jewelry, Inc. | Preferred Equity2025-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 12025-01-012025-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 12024-12-310001396440Trantech Radiator Topco, LLC | Secured Debt 12025-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 22025-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 22025-01-012025-06-300001396440Trantech Radiator Topco, LLC | Secured Debt 22024-12-310001396440Trantech Radiator Topco, LLC | Common Stock2025-01-012025-06-300001396440Trantech Radiator Topco, LLC | Common Stock2024-12-310001396440Trantech Radiator Topco, LLC | Common Stock2025-06-300001396440Victory Energy Operations, LLC | Secured Debt 12025-06-300001396440Victory Energy Operations, LLC | Secured Debt 12025-01-012025-06-300001396440Victory Energy Operations, LLC | Secured Debt 12024-12-310001396440Victory Energy Operations, LLC | Secured Debt 22025-06-300001396440Victory Energy Operations, LLC | Secured Debt 22025-01-012025-06-300001396440Victory Energy Operations, LLC | Secured Debt 22024-12-310001396440Victory Energy Operations, LLC | Preferred Equity2025-01-012025-06-300001396440Victory Energy Operations, LLC | Preferred Equity2024-12-310001396440Victory Energy Operations, LLC | Preferred Equity2025-06-300001396440Volusion, LLC | Secured Debt2025-06-300001396440Volusion, LLC | Secured Debt2025-01-012025-06-300001396440Volusion, LLC | Secured Debt2024-12-310001396440Volusion, LLC | Preferred Member Units 12025-01-012025-06-300001396440Volusion, LLC | Preferred Member Units 12024-12-310001396440Volusion, LLC | Preferred Member Units 12025-06-300001396440Volusion, LLC | Preferred Member Units 22025-01-012025-06-300001396440Volusion, LLC | Preferred Member Units 22024-12-310001396440Volusion, LLC | Preferred Member Units 22025-06-300001396440Volusion, LLC | Preferred Member Units 32025-01-012025-06-300001396440Volusion, LLC | Preferred Member Units 32024-12-310001396440Volusion, LLC | Preferred Member Units 32025-06-300001396440Volusion, LLC | Common Stock2025-01-012025-06-300001396440Volusion, LLC | Common Stock2024-12-310001396440Volusion, LLC | Common Stock2025-06-300001396440Ziegler’s NYPD, LLC | Secured Debt2025-06-300001396440Ziegler’s NYPD, LLC | Secured Debt2025-01-012025-06-300001396440Ziegler’s NYPD, LLC | Secured Debt2024-12-310001396440Ziegler’s NYPD, LLC | Preferred Member Units2025-01-012025-06-300001396440Ziegler’s NYPD, LLC | Preferred Member Units2024-12-310001396440Ziegler’s NYPD, LLC | Preferred Member Units2025-06-300001396440Ziegler’s NYPD, LLC | Warrants2025-01-012025-06-300001396440Ziegler’s NYPD, LLC | Warrants2024-12-310001396440Ziegler’s NYPD, LLC | Warrants2025-06-3000013964402717 MH, L.P. | LP Interests (2717 MH, L.P.)2025-01-012025-06-3000013964402717 MH, L.P. | LP Interests (2717 MH, L.P.)2024-12-3100013964402717 MH, L.P. | LP Interests (2717 MH, L.P.)2025-06-3000013964402717 MH, L.P. | LP Interests (2717 HPP-MS, L.P.)2025-01-012025-06-3000013964402717 MH, L.P. | LP Interests (2717 HPP-MS, L.P.)2024-12-3100013964402717 MH, L.P. | LP Interests (2717 HPP-MS, L.P.)2025-06-3000013964402717 MH, L.P. | LP Interests (2717 GRE-LP, L.P.)2025-01-012025-06-3000013964402717 MH, L.P. | LP Interests (2717 GRE-LP, L.P.)2024-12-3100013964402717 MH, L.P. | LP Interests (2717 GRE-LP, L.P.)2025-06-300001396440HPEP 423 COR, LP | LP Interests (423 COR, L.P.)2025-01-012025-06-300001396440HPEP 423 COR, LP | LP Interests (423 COR, L.P.)2024-12-310001396440HPEP 423 COR, LP | LP Interests (423 COR, L.P.)2025-06-300001396440American Nuts, LLC | Preferred Equity2025-01-012025-06-300001396440American Nuts, LLC | Preferred Equity2024-12-310001396440American Nuts, LLC | Preferred Equity2025-06-300001396440American Nuts, LLC | Secured Debt 12025-06-300001396440American Nuts, LLC | Secured Debt 12025-01-012025-06-300001396440American Nuts, LLC | Secured Debt 12024-12-310001396440American Nuts, LLC | Secured Debt 22025-06-300001396440American Nuts, LLC | Secured Debt 22025-01-012025-06-300001396440American Nuts, LLC | Secured Debt 22024-12-310001396440ASC Interests, LLC | Secured Debt 12025-06-300001396440ASC Interests, LLC | Secured Debt 12025-01-012025-06-300001396440ASC Interests, LLC | Secured Debt 12024-12-310001396440ASC Interests, LLC | Secured Debt 22025-06-300001396440ASC Interests, LLC | Secured Debt 22025-01-012025-06-300001396440ASC Interests, LLC | Secured Debt 22024-12-310001396440ASC Interests, LLC | Preferred Member Units2025-01-012025-06-300001396440ASC Interests, LLC | Preferred Member Units2024-12-310001396440ASC Interests, LLC | Preferred Member Units2025-06-300001396440ASC Interests, LLC | Member Units2025-01-012025-06-300001396440ASC Interests, LLC | Member Units2024-12-310001396440ASC Interests, LLC | Member Units2025-06-300001396440ATS Workholding, LLC | Secured Debt 12025-06-300001396440ATS Workholding, LLC | Secured Debt 12025-01-012025-06-300001396440ATS Workholding, LLC | Secured Debt 12024-12-310001396440ATS Workholding, LLC | Secured Debt 22025-06-300001396440ATS Workholding, LLC | Secured Debt 22025-01-012025-06-300001396440ATS Workholding, LLC | Secured Debt 22024-12-310001396440ATS Workholding, LLC | Preferred Member Units2025-01-012025-06-300001396440ATS Workholding, LLC | Preferred Member Units2024-12-310001396440ATS Workholding, LLC | Preferred Member Units2025-06-300001396440Barfly Ventures, LLC | Secured Debt2025-06-300001396440Barfly Ventures, LLC | Secured Debt2025-01-012025-06-300001396440Barfly Ventures, LLC | Secured Debt2024-12-310001396440Barfly Ventures, LLC | Member Units2025-01-012025-06-300001396440Barfly Ventures, LLC | Member Units2024-12-310001396440Barfly Ventures, LLC | Member Units2025-06-300001396440Batjer TopCo, LLC | Secured Debt 12025-01-012025-06-300001396440Batjer TopCo, LLC | Secured Debt 12024-12-310001396440Batjer TopCo, LLC | Secured Debt 12025-06-300001396440Batjer TopCo, LLC | Secured Debt 22025-06-300001396440Batjer TopCo, LLC | Secured Debt 22025-01-012025-06-300001396440Batjer TopCo, LLC | Secured Debt 22024-12-310001396440Batjer TopCo, LLC | Secured Debt 32025-06-300001396440Batjer TopCo, LLC | Secured Debt 32025-01-012025-06-300001396440Batjer TopCo, LLC | Secured Debt 32024-12-310001396440Batjer TopCo, LLC | Preferred Stock2025-01-012025-06-300001396440Batjer TopCo, LLC | Preferred Stock2024-12-310001396440Batjer TopCo, LLC | Preferred Stock2025-06-300001396440Bolder Panther Group, LLC | Secured Debt 12025-06-300001396440Bolder Panther Group, LLC | Secured Debt 12025-01-012025-06-300001396440Bolder Panther Group, LLC | Secured Debt 12024-12-310001396440Bolder Panther Group, LLC | Class B Preferred Member Units2025-06-300001396440Bolder Panther Group, LLC | Class B Preferred Member Units2025-01-012025-06-300001396440Bolder Panther Group, LLC | Class B Preferred Member Units2024-12-310001396440Bolder Panther Group, LLC | Secured Debt 22025-01-012025-06-300001396440Bolder Panther Group, LLC | Secured Debt 22024-12-310001396440Bolder Panther Group, LLC | Secured Debt 22025-06-300001396440Bridge Capital Solutions Corporation | Preferred Member Units2025-01-012025-06-300001396440Bridge Capital Solutions Corporation | Preferred Member Units2024-12-310001396440Bridge Capital Solutions Corporation | Preferred Member Units2025-06-300001396440Bridge Capital Solutions Corporation | Warrants 12025-01-012025-06-300001396440Bridge Capital Solutions Corporation | Warrants 12024-12-310001396440Bridge Capital Solutions Corporation | Warrants 12025-06-300001396440Bridge Capital Solutions Corporation | Warrants 22025-01-012025-06-300001396440Bridge Capital Solutions Corporation | Warrants 22024-12-310001396440Bridge Capital Solutions Corporation | Warrants 22025-06-300001396440CBT Nuggets, LLC | Member Units2025-01-012025-06-300001396440CBT Nuggets, LLC | Member Units2024-12-310001396440CBT Nuggets, LLC | Member Units2025-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 12025-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 12024-12-310001396440Centre Technologies Holdings, LLC | Secured Debt 22025-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Centre Technologies Holdings, LLC | Secured Debt 22024-12-310001396440Centre Technologies Holdings, LLC | Preferred Member Units2025-01-012025-06-300001396440Centre Technologies Holdings, LLC | Preferred Member Units2024-12-310001396440Centre Technologies Holdings, LLC | Preferred Member Units2025-06-300001396440Chamberlin Holding LLC | Secured Debt 12025-06-300001396440Chamberlin Holding LLC | Secured Debt 12025-01-012025-06-300001396440Chamberlin Holding LLC | Secured Debt 12024-12-310001396440Chamberlin Holding LLC | Secured Debt 22025-06-300001396440Chamberlin Holding LLC | Secured Debt 22025-01-012025-06-300001396440Chamberlin Holding LLC | Secured Debt 22024-12-310001396440Chamberlin Holding LLC | Member Units 12025-01-012025-06-300001396440Chamberlin Holding LLC | Member Units 12024-12-310001396440Chamberlin Holding LLC | Member Units 12025-06-300001396440Chamberlin Holding LLC | Member Units 22025-01-012025-06-300001396440Chamberlin Holding LLC | Member Units 22024-12-310001396440Chamberlin Holding LLC | Member Units 22025-06-300001396440Charps, LLC | Unsecured Debt2025-06-300001396440Charps, LLC | Unsecured Debt2025-01-012025-06-300001396440Charps, LLC | Unsecured Debt2024-12-310001396440Charps, LLC | Preferred Member Units2025-01-012025-06-300001396440Charps, LLC | Preferred Member Units2024-12-310001396440Charps, LLC | Preferred Member Units2025-06-300001396440Colonial Electric Company LLC | Secured Debt 12025-01-012025-06-300001396440Colonial Electric Company LLC | Secured Debt 12024-12-310001396440Colonial Electric Company LLC | Secured Debt 12025-06-300001396440Colonial Electric Company LLC | Secured Debt 22025-06-300001396440Colonial Electric Company LLC | Secured Debt 22025-01-012025-06-300001396440Colonial Electric Company LLC | Secured Debt 22024-12-310001396440Colonial Electric Company LLC | Preferred Member Units2025-01-012025-06-300001396440Colonial Electric Company LLC | Preferred Member Units2024-12-310001396440Colonial Electric Company LLC | Preferred Member Units2025-06-300001396440Compass Systems & Sales, LLC | Secured Debt 12025-01-012025-06-300001396440Compass Systems & Sales, LLC | Secured Debt 12024-12-310001396440Compass Systems & Sales, LLC | Secured Debt 12025-06-300001396440Compass Systems & Sales, LLC | Secured Debt 22025-06-300001396440Compass Systems & Sales, LLC | Secured Debt 22025-01-012025-06-300001396440Compass Systems & Sales, LLC | Secured Debt 22024-12-310001396440Compass Systems & Sales, LLC | Preferred Equity2025-01-012025-06-300001396440Compass Systems & Sales, LLC | Preferred Equity2024-12-310001396440Compass Systems & Sales, LLC | Preferred Equity2025-06-300001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2025-01-012025-06-300001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2024-12-310001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2025-06-300001396440Digital Products Holdings LLC | Secured Debt2025-06-300001396440Digital Products Holdings LLC | Secured Debt2025-01-012025-06-300001396440Digital Products Holdings LLC | Secured Debt2024-12-310001396440Digital Products Holdings LLC | Preferred Member Units2025-01-012025-06-300001396440Digital Products Holdings LLC | Preferred Member Units2024-12-310001396440Digital Products Holdings LLC | Preferred Member Units2025-06-300001396440Doral Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440Doral Holdings, LLC | Preferred Equity2024-12-310001396440Doral Holdings, LLC | Preferred Equity2025-06-300001396440Doral Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Doral Holdings, LLC | Secured Debt 12024-12-310001396440Doral Holdings, LLC | Secured Debt 12025-06-300001396440Doral Holdings, LLC | Secured Debt 22025-06-300001396440Doral Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Doral Holdings, LLC | Secured Debt 22024-12-310001396440Elgin AcquireCo, LLC | Secured Debt 12025-06-300001396440Elgin AcquireCo, LLC | Secured Debt 12025-01-012025-06-300001396440Elgin AcquireCo, LLC | Secured Debt 12024-12-310001396440Elgin AcquireCo, LLC | Secured Debt 22025-06-300001396440Elgin AcquireCo, LLC | Secured Debt 22025-01-012025-06-300001396440Elgin AcquireCo, LLC | Secured Debt 22024-12-310001396440Elgin AcquireCo, LLC | Secured Debt 32025-06-300001396440Elgin AcquireCo, LLC | Secured Debt 32025-01-012025-06-300001396440Elgin AcquireCo, LLC | Secured Debt 32024-12-310001396440Elgin AcquireCo, LLC | Common Stock 12025-01-012025-06-300001396440Elgin AcquireCo, LLC | Common Stock 12024-12-310001396440Elgin AcquireCo, LLC | Common Stock 12025-06-300001396440Elgin AcquireCo, LLC | Common Stock 22025-01-012025-06-300001396440Elgin AcquireCo, LLC | Common Stock 22024-12-310001396440Elgin AcquireCo, LLC | Common Stock 22025-06-300001396440Flame King Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440Flame King Holdings, LLC | Preferred Equity2024-12-310001396440Flame King Holdings, LLC | Preferred Equity2025-06-300001396440Flame King Holdings, LLC | Secured Debt2025-06-300001396440Flame King Holdings, LLC | Secured Debt2025-01-012025-06-300001396440Flame King Holdings, LLC | Secured Debt2024-12-310001396440Harrison Hydra-Gen, Ltd. | Common Stock2025-01-012025-06-300001396440Harrison Hydra-Gen, Ltd. | Common Stock2024-12-310001396440Harrison Hydra-Gen, Ltd. | Common Stock2025-06-300001396440JorVet Holdings, LLC | Secured Debt2025-06-300001396440JorVet Holdings, LLC | Secured Debt2025-01-012025-06-300001396440JorVet Holdings, LLC | Secured Debt2024-12-310001396440JorVet Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440JorVet Holdings, LLC | Preferred Equity2024-12-310001396440JorVet Holdings, LLC | Preferred Equity2025-06-300001396440KBK Industries, LLC | Secured Debt 12025-01-012025-06-300001396440KBK Industries, LLC | Secured Debt 12024-12-310001396440KBK Industries, LLC | Secured Debt 12025-06-300001396440KBK Industries, LLC | Member Units2025-01-012025-06-300001396440KBK Industries, LLC | Member Units2024-12-310001396440KBK Industries, LLC | Member Units2025-06-300001396440KBK Industries, LLC | Secured Debt 22025-06-300001396440KBK Industries, LLC | Secured Debt 22025-01-012025-06-300001396440KBK Industries, LLC | Secured Debt 22024-12-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12025-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12025-01-012025-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12024-12-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22025-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22025-01-012025-06-300001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22024-12-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2025-01-012025-06-300001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2024-12-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2025-06-300001396440Kickhaefer Manufacturing Company, LLC | Member Units2025-01-012025-06-300001396440Kickhaefer Manufacturing Company, LLC | Member Units2024-12-310001396440Kickhaefer Manufacturing Company, LLC | Member Units2025-06-300001396440Metalforming Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Metalforming Holdings, LLC | Secured Debt 12024-12-310001396440Metalforming Holdings, LLC | Secured Debt 12025-06-300001396440Metalforming Holdings, LLC | Secured Debt 22025-06-300001396440Metalforming Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Metalforming Holdings, LLC | Secured Debt 22024-12-310001396440Metalforming Holdings, LLC | Preferred Equity2025-06-300001396440Metalforming Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440Metalforming Holdings, LLC | Preferred Equity2024-12-310001396440Metalforming Holdings, LLC | Common Stock2025-01-012025-06-300001396440Metalforming Holdings, LLC | Common Stock2024-12-310001396440Metalforming Holdings, LLC | Common Stock2025-06-300001396440MS Private Loan Fund I, LP | Secured Debt2025-06-300001396440MS Private Loan Fund I, LP | Secured Debt2025-01-012025-06-300001396440MS Private Loan Fund I, LP | Secured Debt2024-12-310001396440MS Private Loan Fund I, LP | LP Interests2025-01-012025-06-300001396440MS Private Loan Fund I, LP | LP Interests2024-12-310001396440MS Private Loan Fund I, LP | LP Interests2025-06-300001396440MS Private Loan Fund II, LP | Secured Debt2025-06-300001396440MS Private Loan Fund II, LP | Secured Debt2025-01-012025-06-300001396440MS Private Loan Fund II, LP | Secured Debt2024-12-310001396440MS Private Loan Fund II, LP | LP Interests2025-01-012025-06-300001396440MS Private Loan Fund II, LP | LP Interests2024-12-310001396440MS Private Loan Fund II, LP | LP Interests2025-06-300001396440MSC Income Fund, Inc. | Common Equity2025-01-012025-06-300001396440MSC Income Fund, Inc. | Common Equity2024-12-310001396440MSC Income Fund, Inc. | Common Equity2025-06-300001396440MVI MSO, LLC (Milford Vascular) | Secured Debt2025-06-300001396440MVI MSO, LLC (Milford Vascular) | Secured Debt2025-01-012025-06-300001396440MVI MSO, LLC (Milford Vascular) | Secured Debt2024-12-310001396440MVI MSO, LLC (Milford Vascular) | Preferred Equity2025-01-012025-06-300001396440MVI MSO, LLC (Milford Vascular) | Preferred Equity2024-12-310001396440MVI MSO, LLC (Milford Vascular) | Preferred Equity2025-06-300001396440NAPCO Precast, LLC | Member Units 2025-01-012025-06-300001396440NAPCO Precast, LLC | Member Units 2024-12-310001396440NAPCO Precast, LLC | Member Units 2025-06-300001396440Nello Industries Investco, LLC | Secured Debt 12025-06-300001396440Nello Industries Investco, LLC | Secured Debt 12025-01-012025-06-300001396440Nello Industries Investco, LLC | Secured Debt 12024-12-310001396440Nello Industries Investco, LLC | Secured Debt 22025-06-300001396440Nello Industries Investco, LLC | Secured Debt 22025-01-012025-06-300001396440Nello Industries Investco, LLC | Secured Debt 22024-12-310001396440Nello Industries Investco, LLC | Preferred Equity2025-01-012025-06-300001396440Nello Industries Investco, LLC | Preferred Equity2024-12-310001396440Nello Industries Investco, LLC | Preferred Equity2025-06-300001396440NexRev LLC | Secured Debt 12025-01-012025-06-300001396440NexRev LLC | Secured Debt 12024-12-310001396440NexRev LLC | Secured Debt 12025-06-300001396440NexRev LLC | Secured Debt 22025-01-012025-06-300001396440NexRev LLC | Secured Debt 22024-12-310001396440NexRev LLC | Secured Debt 22025-06-300001396440NexRev LLC | Preferred Member Units2025-01-012025-06-300001396440NexRev LLC | Preferred Member Units2024-12-310001396440NexRev LLC | Preferred Member Units2025-06-300001396440NuStep, LLC | Secured Debt 12025-06-300001396440NuStep, LLC | Secured Debt 12025-01-012025-06-300001396440NuStep, LLC | Secured Debt 12024-12-310001396440NuStep, LLC | Secured Debt 22025-06-300001396440NuStep, LLC | Secured Debt 22025-01-012025-06-300001396440NuStep, LLC | Secured Debt 22024-12-310001396440NuStep, LLC | Preferred Member Units 12025-01-012025-06-300001396440NuStep, LLC | Preferred Member Units 12024-12-310001396440NuStep, LLC | Preferred Member Units 12025-06-300001396440NuStep, LLC | Preferred Member Units 22025-01-012025-06-300001396440NuStep, LLC | Preferred Member Units 22024-12-310001396440NuStep, LLC | Preferred Member Units 22025-06-300001396440Orttech Holdings, LLC | Secured Debt 12025-06-300001396440Orttech Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Orttech Holdings, LLC | Secured Debt 12024-12-310001396440Orttech Holdings, LLC | Secured Debt 22025-06-300001396440Orttech Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Orttech Holdings, LLC | Secured Debt 22024-12-310001396440Orttech Holdings, LLC | Preferred Stock2025-01-012025-06-300001396440Orttech Holdings, LLC | Preferred Stock2024-12-310001396440Orttech Holdings, LLC | Preferred Stock2025-06-300001396440Pinnacle TopCo, LLC | Secured Debt 12025-01-012025-06-300001396440Pinnacle TopCo, LLC | Secured Debt 12024-12-310001396440Pinnacle TopCo, LLC | Secured Debt 12025-06-300001396440Pinnacle TopCo, LLC | Secured Debt 22025-06-300001396440Pinnacle TopCo, LLC | Secured Debt 22025-01-012025-06-300001396440Pinnacle TopCo, LLC | Secured Debt 22024-12-310001396440Pinnacle TopCo, LLC | Preferred Equity2025-01-012025-06-300001396440Pinnacle TopCo, LLC | Preferred Equity2024-12-310001396440Pinnacle TopCo, LLC | Preferred Equity2025-06-300001396440River Aggregates, LLC | Member Units2025-01-012025-06-300001396440River Aggregates, LLC | Member Units2024-12-310001396440River Aggregates, LLC | Member Units2025-06-300001396440Tedder Industries, LLC | Secured Debt 12025-06-300001396440Tedder Industries, LLC | Secured Debt 12025-01-012025-06-300001396440Tedder Industries, LLC | Secured Debt 12024-12-310001396440Tedder Industries, LLC | Secured Debt 22025-06-300001396440Tedder Industries, LLC | Secured Debt 22025-01-012025-06-300001396440Tedder Industries, LLC | Secured Debt 22024-12-310001396440Tedder Industries, LLC | Preferred Member Units 12025-01-012025-06-300001396440Tedder Industries, LLC | Preferred Member Units 12024-12-310001396440Tedder Industries, LLC | Preferred Member Units 12025-06-300001396440Tedder Industries, LLC | Preferred Member Units 22025-01-012025-06-300001396440Tedder Industries, LLC | Preferred Member Units 22024-12-310001396440Tedder Industries, LLC | Preferred Member Units 22025-06-300001396440Tedder Industries, LLC | Preferred Member Units 32025-01-012025-06-300001396440Tedder Industries, LLC | Preferred Member Units 32024-12-310001396440Tedder Industries, LLC | Preferred Member Units 32025-06-300001396440Televerde, LLC | Member Units2025-01-012025-06-300001396440Televerde, LLC | Member Units2024-12-310001396440Televerde, LLC | Member Units2025-06-300001396440Televerde, LLC | Preferred Stock2025-01-012025-06-300001396440Televerde, LLC | Preferred Stock2024-12-310001396440Televerde, LLC | Preferred Stock2025-06-300001396440VVS Holdco LLC | Secured Debt 12025-06-300001396440VVS Holdco LLC | Secured Debt 12025-01-012025-06-300001396440VVS Holdco LLC | Secured Debt 12024-12-310001396440VVS Holdco LLC | Secured Debt 22025-06-300001396440VVS Holdco LLC | Secured Debt 22025-01-012025-06-300001396440VVS Holdco LLC | Secured Debt 22024-12-310001396440VVS Holdco LLC | Preferred Equity2025-01-012025-06-300001396440VVS Holdco LLC | Preferred Equity2024-12-310001396440VVS Holdco LLC | Preferred Equity2025-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12025-01-012025-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12024-12-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12025-06-300001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2024-12-310001396440us-gaap:InvestmentAffiliatedIssuerControlledMember2025-06-300001396440423 HAR, LP | LP Interests (423 HAR, L.P.)2025-01-012025-06-300001396440423 HAR, LP | LP Interests (423 HAR, L.P.)2024-12-310001396440423 HAR, LP | LP Interests (423 HAR, L.P.)2025-06-300001396440AAC Holdings, Inc. | Secured Debt 12025-06-300001396440AAC Holdings, Inc. | Secured Debt 12025-01-012025-06-300001396440AAC Holdings, Inc. | Secured Debt 12024-12-310001396440AAC Holdings, Inc. | Secured Debt 22025-06-300001396440AAC Holdings, Inc. | Secured Debt 22025-01-012025-06-300001396440AAC Holdings, Inc. | Secured Debt 22024-12-310001396440AAC Holdings, Inc. | Preferred Equity2025-01-012025-06-300001396440AAC Holdings, Inc. | Preferred Equity2024-12-310001396440AAC Holdings, Inc. | Preferred Equity2025-06-300001396440AAC Holdings, Inc. | Secured Debt 32025-06-300001396440AAC Holdings, Inc. | Secured Debt 32025-01-012025-06-300001396440AAC Holdings, Inc. | Secured Debt 32024-12-310001396440AAC Holdings, Inc. | Secured Debt 42025-06-300001396440AAC Holdings, Inc. | Secured Debt 42025-01-012025-06-300001396440AAC Holdings, Inc. | Secured Debt 42024-12-310001396440AAC Holdings, Inc. | Common Stock2025-01-012025-06-300001396440AAC Holdings, Inc. | Common Stock2024-12-310001396440AAC Holdings, Inc. | Common Stock2025-06-300001396440AAC Holdings, Inc. | Warrants2025-01-012025-06-300001396440AAC Holdings, Inc. | Warrants2024-12-310001396440AAC Holdings, Inc. | Warrants2025-06-300001396440AAC Holdings, Inc. | Secured Debt 52025-06-300001396440AAC Holdings, Inc. | Secured Debt 52025-01-012025-06-300001396440AAC Holdings, Inc. | Secured Debt 52024-12-310001396440Boccella Precast Products LLC | Secured Debt2025-06-300001396440Boccella Precast Products LLC | Secured Debt2025-01-012025-06-300001396440Boccella Precast Products LLC | Secured Debt2024-12-310001396440Boccella Precast Products LLC | Member Units2025-01-012025-06-300001396440Boccella Precast Products LLC | Member Units2024-12-310001396440Boccella Precast Products LLC | Member Units2025-06-300001396440Buca C, LLC | Secured Debt 12025-06-300001396440Buca C, LLC | Secured Debt 12025-01-012025-06-300001396440Buca C, LLC | Secured Debt 12024-12-310001396440Buca C, LLC | Preferred Member Units2025-06-300001396440Buca C, LLC | Preferred Member Units2025-01-012025-06-300001396440Buca C, LLC | Preferred Member Units2024-12-310001396440Buca C, LLC | Secured Debt 22025-06-300001396440Buca C, LLC | Secured Debt 22025-01-012025-06-300001396440Buca C, LLC | Secured Debt 22024-12-310001396440Buca C, LLC | Secured Debt 32025-06-300001396440Buca C, LLC | Secured Debt 32025-01-012025-06-300001396440Buca C, LLC | Secured Debt 32024-12-310001396440Career Team Holdings, LLC | Secured Debt 12025-06-300001396440Career Team Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Career Team Holdings, LLC | Secured Debt 12024-12-310001396440Career Team Holdings, LLC | Secured Debt 22025-06-300001396440Career Team Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Career Team Holdings, LLC | Secured Debt 22024-12-310001396440Career Team Holdings, LLC | Common Stock2025-01-012025-06-300001396440Career Team Holdings, LLC | Common Stock2024-12-310001396440Career Team Holdings, LLC | Common Stock2025-06-300001396440Classic H&G Holdings, LLC | Preferred Member Units2025-01-012025-06-300001396440Classic H&G Holdings, LLC | Preferred Member Units2024-12-310001396440Classic H&G Holdings, LLC | Preferred Member Units2025-06-300001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2025-01-012025-06-300001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2024-12-310001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2025-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2025-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2025-01-012025-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2024-12-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2025-01-012025-06-300001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2024-12-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2025-06-300001396440DMA Industries, LLC | Secured Debt 12025-06-300001396440DMA Industries, LLC | Secured Debt 12025-01-012025-06-300001396440DMA Industries, LLC | Secured Debt 12024-12-310001396440DMA Industries, LLC | Preferred Equity 12025-01-012025-06-300001396440DMA Industries, LLC | Preferred Equity 12024-12-310001396440DMA Industries, LLC | Preferred Equity 12025-06-300001396440DMA Industries, LLC | Secured Debt 22025-06-300001396440DMA Industries, LLC | Secured Debt 22025-01-012025-06-300001396440DMA Industries, LLC | Secured Debt 22024-12-310001396440DMA Industries, LLC | Preferred Equity 22025-06-300001396440DMA Industries, LLC | Preferred Equity 22025-01-012025-06-300001396440DMA Industries, LLC | Preferred Equity 22024-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2025-01-012025-06-300001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2024-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2025-06-300001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2025-01-012025-06-300001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2024-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2025-06-300001396440Dos Rios Stone Products LLC | Class A Preferred Units2025-01-012025-06-300001396440Dos Rios Stone Products LLC | Class A Preferred Units2024-12-310001396440Dos Rios Stone Products LLC | Class A Preferred Units2025-06-300001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2025-01-012025-06-300001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2024-12-310001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2025-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt2025-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt2025-01-012025-06-300001396440FCC Intermediate Holdco, LLC | Secured Debt2024-12-310001396440FCC Intermediate Holdco, LLC | Warrants2025-01-012025-06-300001396440FCC Intermediate Holdco, LLC | Warrants2024-12-310001396440FCC Intermediate Holdco, LLC | Warrants2025-06-300001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2025-01-012025-06-300001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2024-12-310001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2025-06-300001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2025-01-012025-06-300001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2024-12-310001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2025-06-300001396440GFG Group, LLC | Secured Debt 12025-01-012025-06-300001396440GFG Group, LLC | Secured Debt 12024-12-310001396440GFG Group, LLC | Secured Debt 12025-06-300001396440GFG Group, LLC | Preferred Member Units2025-01-012025-06-300001396440GFG Group, LLC | Preferred Member Units2024-12-310001396440GFG Group, LLC | Preferred Member Units2025-06-300001396440GFG Group, LLC | Secured Debt 22025-06-300001396440GFG Group, LLC | Secured Debt 22025-01-012025-06-300001396440GFG Group, LLC | Secured Debt 22024-12-310001396440Gulf Manufacturing, LLC | Secured Debt 12025-06-300001396440Gulf Manufacturing, LLC | Secured Debt 12025-01-012025-06-300001396440Gulf Manufacturing, LLC | Secured Debt 12024-12-310001396440Gulf Manufacturing, LLC | Secured Debt 22025-06-300001396440Gulf Manufacturing, LLC | Secured Debt 22025-01-012025-06-300001396440Gulf Manufacturing, LLC | Secured Debt 22024-12-310001396440Gulf Manufacturing, LLC | Member Units2025-01-012025-06-300001396440Gulf Manufacturing, LLC | Member Units2024-12-310001396440Gulf Manufacturing, LLC | Member Units2025-06-300001396440Gulf Manufacturing, LLC | Common Stock2025-01-012025-06-300001396440Gulf Manufacturing, LLC | Common Stock2024-12-310001396440Gulf Manufacturing, LLC | Common Stock2025-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 12025-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 12025-01-012025-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 12024-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 22025-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 22025-01-012025-06-300001396440Hawk Ridge Systems, LLC | Secured Debt 22024-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 12025-01-012025-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 12024-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 12025-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 22025-01-012025-06-300001396440Hawk Ridge Systems, LLC | Preferred Member Units 22024-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 22025-06-300001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2025-06-300001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2025-01-012025-06-300001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2024-12-310001396440Houston Plating and Coatings, LLC | Member Units2025-01-012025-06-300001396440Houston Plating and Coatings, LLC | Member Units2024-12-310001396440Houston Plating and Coatings, LLC | Member Units2025-06-300001396440HPEP 3, L.P. | LP Interests (HPEP 3, L.P.)2025-01-012025-06-300001396440HPEP 3, L.P. | LP Interests (HPEP 3, L.P.)2024-12-310001396440HPEP 3, L.P. | LP Interests (HPEP 3, L.P.)2025-06-300001396440HPEP 3, L.P. | LP Interests (HPEP 4, L.P.)2025-01-012025-06-300001396440HPEP 3, L.P. | LP Interests (HPEP 4, L.P.)2024-12-310001396440HPEP 3, L.P. | LP Interests (HPEP 4, L.P.)2025-06-300001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2025-01-012025-06-300001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2024-12-310001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2025-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 12025-01-012025-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 12024-12-310001396440Infinity X1 Holdings, LLC | Secured Debt 12025-06-300001396440Infinity X1 Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440Infinity X1 Holdings, LLC | Preferred Equity2024-12-310001396440Infinity X1 Holdings, LLC | Preferred Equity2025-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 22025-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 22025-01-012025-06-300001396440Infinity X1 Holdings, LLC | Secured Debt 22024-12-310001396440Integral Energy Services | Secured Debt 2025-06-300001396440Integral Energy Services | Secured Debt 2025-01-012025-06-300001396440Integral Energy Services | Secured Debt 2024-12-310001396440Integral Energy Services | Preferred Equity 12025-06-300001396440Integral Energy Services | Preferred Equity 12025-01-012025-06-300001396440Integral Energy Services | Preferred Equity 12024-12-310001396440Integral Energy Services | Common Stock2025-01-012025-06-300001396440Integral Energy Services | Common Stock2024-12-310001396440Integral Energy Services | Common Stock2025-06-300001396440Integral Energy Services | Preferred Equity 22025-06-300001396440Integral Energy Services | Preferred Equity 22025-01-012025-06-300001396440Integral Energy Services | Preferred Equity 22024-12-310001396440Iron-Main Investments, LLC | Secured Debt 12025-06-300001396440Iron-Main Investments, LLC | Secured Debt 12025-01-012025-06-300001396440Iron-Main Investments, LLC | Secured Debt 12024-12-310001396440Iron-Main Investments, LLC | Secured Debt 22025-06-300001396440Iron-Main Investments, LLC | Secured Debt 22025-01-012025-06-300001396440Iron-Main Investments, LLC | Secured Debt 22024-12-310001396440Iron-Main Investments, LLC | Secured Debt 32025-06-300001396440Iron-Main Investments, LLC | Secured Debt 32025-01-012025-06-300001396440Iron-Main Investments, LLC | Secured Debt 32024-12-310001396440Iron-Main Investments, LLC | Secured Debt 42025-06-300001396440Iron-Main Investments, LLC | Secured Debt 42025-01-012025-06-300001396440Iron-Main Investments, LLC | Secured Debt 42024-12-310001396440Iron-Main Investments, LLC | Secured Debt 52025-06-300001396440Iron-Main Investments, LLC | Secured Debt 52025-01-012025-06-300001396440Iron-Main Investments, LLC | Secured Debt 52024-12-310001396440Iron-Main Investments, LLC | Common Stock2025-01-012025-06-300001396440Iron-Main Investments, LLC | Common Stock2024-12-310001396440Iron-Main Investments, LLC | Common Stock2025-06-300001396440Iron-Main Investments, LLC | Preferred Equity 2025-06-300001396440Iron-Main Investments, LLC | Preferred Equity 2025-01-012025-06-300001396440Iron-Main Investments, LLC | Preferred Equity 2024-12-310001396440ITA Holdings Group, LLC | Secured Debt 12025-06-300001396440ITA Holdings Group, LLC | Secured Debt 12025-01-012025-06-300001396440ITA Holdings Group, LLC | Secured Debt 12024-12-310001396440ITA Holdings Group, LLC | Secured Debt 22025-06-300001396440ITA Holdings Group, LLC | Secured Debt 22025-01-012025-06-300001396440ITA Holdings Group, LLC | Secured Debt 22024-12-310001396440ITA Holdings Group, LLC | Secured Debt 32025-06-300001396440ITA Holdings Group, LLC | Secured Debt 32025-01-012025-06-300001396440ITA Holdings Group, LLC | Secured Debt 32024-12-310001396440ITA Holdings Group, LLC | Secured Debt 42025-06-300001396440ITA Holdings Group, LLC | Secured Debt 42025-01-012025-06-300001396440ITA Holdings Group, LLC | Secured Debt 42024-12-310001396440ITA Holdings Group, LLC | Secured Debt 52025-06-300001396440ITA Holdings Group, LLC | Secured Debt 52025-01-012025-06-300001396440ITA Holdings Group, LLC | Secured Debt 52024-12-310001396440ITA Holdings Group, LLC | Secured Debt 62025-06-300001396440ITA Holdings Group, LLC | Secured Debt 62025-01-012025-06-300001396440ITA Holdings Group, LLC | Secured Debt 62024-12-310001396440ITA Holdings Group, LLC | Warrants2025-01-012025-06-300001396440ITA Holdings Group, LLC | Warrants2024-12-310001396440ITA Holdings Group, LLC | Warrants2025-06-300001396440Johnson Downie Opco, LLC | Secured Debt 12025-01-012025-06-300001396440Johnson Downie Opco, LLC | Secured Debt 12024-12-310001396440Johnson Downie Opco, LLC | Secured Debt 12025-06-300001396440Johnson Downie Opco, LLC | Secured Debt 22025-06-300001396440Johnson Downie Opco, LLC | Secured Debt 22025-01-012025-06-300001396440Johnson Downie Opco, LLC | Secured Debt 22024-12-310001396440Johnson Downie Opco, LLC | Preferred Equity2025-01-012025-06-300001396440Johnson Downie Opco, LLC | Preferred Equity2024-12-310001396440Johnson Downie Opco, LLC | Preferred Equity2025-06-300001396440KMS, LLC | Secured Debt 12025-06-300001396440KMS, LLC | Secured Debt 12025-01-012025-06-300001396440KMS, LLC | Secured Debt 12024-12-310001396440KMS, LLC | Secured Debt 22025-06-300001396440KMS, LLC | Secured Debt 22025-01-012025-06-300001396440KMS, LLC | Secured Debt 22024-12-310001396440KMS, LLC | Secured Debt 32025-06-300001396440KMS, LLC | Secured Debt 32025-01-012025-06-300001396440KMS, LLC | Secured Debt 32024-12-310001396440KMS, LLC | Secured Debt 42025-06-300001396440KMS, LLC | Secured Debt 42025-01-012025-06-300001396440KMS, LLC | Secured Debt 42024-12-310001396440KMS, LLC | Secured Debt 52025-06-300001396440KMS, LLC | Secured Debt 52025-01-012025-06-300001396440KMS, LLC | Secured Debt 52024-12-310001396440KMS, LLC | Secured Debt 62025-06-300001396440KMS, LLC | Secured Debt 62025-01-012025-06-300001396440KMS, LLC | Secured Debt 62024-12-310001396440KMS, LLC | Secured Debt 72025-06-300001396440KMS, LLC | Secured Debt 72025-01-012025-06-300001396440KMS, LLC | Secured Debt 72024-12-310001396440KMS, LLC | Preferred Equity2025-01-012025-06-300001396440KMS, LLC | Preferred Equity2024-12-310001396440KMS, LLC | Preferred Equity2025-06-300001396440Mills Fleet Farm Group, LLC | Secured Debt 2025-06-300001396440Mills Fleet Farm Group, LLC | Secured Debt 2025-01-012025-06-300001396440Mills Fleet Farm Group, LLC | Secured Debt 2024-12-310001396440Mills Fleet Farm Group, LLC | Preferred Equity2025-01-012025-06-300001396440Mills Fleet Farm Group, LLC | Preferred Equity2024-12-310001396440Mills Fleet Farm Group, LLC | Preferred Equity2025-06-300001396440Moffitt Holdings, LLC | Secured Debt2025-06-300001396440Moffitt Holdings, LLC | Secured Debt2025-01-012025-06-300001396440Moffitt Holdings, LLC | Secured Debt2024-12-310001396440Moffitt Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440Moffitt Holdings, LLC | Preferred Equity2024-12-310001396440Moffitt Holdings, LLC | Preferred Equity2025-06-300001396440MoneyThumb Acquisition, LLC | Secured Debt2025-06-300001396440MoneyThumb Acquisition, LLC | Secured Debt2025-01-012025-06-300001396440MoneyThumb Acquisition, LLC | Secured Debt2024-12-310001396440MoneyThumb Acquisition, LLC | Preferred Member Units2025-06-300001396440MoneyThumb Acquisition, LLC | Preferred Member Units2025-01-012025-06-300001396440MoneyThumb Acquisition, LLC | Preferred Member Units2024-12-310001396440MoneyThumb Acquisition, LLC | Warrants2025-01-012025-06-300001396440MoneyThumb Acquisition, LLC | Warrants2024-12-310001396440MoneyThumb Acquisition, LLC | Warrants2025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 12025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 12025-01-012025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 12024-12-310001396440Nebraska Vet AcquireCo, LLC. | Preferred Member Units2025-01-012025-06-300001396440Nebraska Vet AcquireCo, LLC. | Preferred Member Units2024-12-310001396440Nebraska Vet AcquireCo, LLC. | Preferred Member Units2025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 22025-01-012025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 22024-12-310001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 22025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 32025-01-012025-06-300001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 32024-12-310001396440Nebraska Vet AcquireCo, LLC. | Secured Debt 32025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 12025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 12025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 12024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 22025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 22025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 22024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 32025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 32025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 32024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 42025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 42025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Secured Debt 42024-12-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2025-06-300001396440OnAsset Intelligence, Inc. | Unsecured Debt2025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Unsecured Debt2024-12-310001396440OnAsset Intelligence, Inc. | Preferred Stock2025-06-300001396440OnAsset Intelligence, Inc. | Preferred Stock2025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Preferred Stock2024-12-310001396440OnAsset Intelligence, Inc. | Common Stock2025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Common Stock2024-12-310001396440OnAsset Intelligence, Inc. | Common Stock2025-06-300001396440OnAsset Intelligence, Inc. | Warrants2025-01-012025-06-300001396440OnAsset Intelligence, Inc. | Warrants2024-12-310001396440OnAsset Intelligence, Inc. | Warrants2025-06-300001396440Oneliance, LLC | Preferred Stock2025-01-012025-06-300001396440Oneliance, LLC | Preferred Stock2024-12-310001396440Oneliance, LLC | Preferred Stock2025-06-300001396440RA Outdoors (Aspira) LLC | Secured Debt 12025-06-300001396440RA Outdoors (Aspira) LLC | Secured Debt 12025-01-012025-06-300001396440RA Outdoors (Aspira) LLC | Secured Debt 12024-12-310001396440RA Outdoors (Aspira) LLC | Secured Debt 22025-06-300001396440RA Outdoors (Aspira) LLC | Secured Debt 22025-01-012025-06-300001396440RA Outdoors (Aspira) LLC | Secured Debt 22024-12-310001396440RA Outdoors (Aspira) LLC | Common Equity2025-01-012025-06-300001396440RA Outdoors (Aspira) LLC | Common Equity2024-12-310001396440RA Outdoors (Aspira) LLC | Common Equity2025-06-300001396440RFG AcquireCo, LLC | Secured Debt 12025-01-012025-06-300001396440RFG AcquireCo, LLC | Secured Debt 12024-12-310001396440RFG AcquireCo, LLC | Secured Debt 12025-06-300001396440RFG AcquireCo, LLC | Secured Debt 22025-01-012025-06-300001396440RFG AcquireCo, LLC | Secured Debt 22024-12-310001396440RFG AcquireCo, LLC | Secured Debt 22025-06-300001396440RFG AcquireCo, LLC | Secured Debt 32025-06-300001396440RFG AcquireCo, LLC | Secured Debt 32025-01-012025-06-300001396440RFG AcquireCo, LLC | Secured Debt 32024-12-310001396440RFG AcquireCo, LLC | Preferred Equity2025-01-012025-06-300001396440RFG AcquireCo, LLC | Preferred Equity2024-12-310001396440RFG AcquireCo, LLC | Preferred Equity2025-06-300001396440SI East, LLC | Secured Debt 12025-06-300001396440SI East, LLC | Secured Debt 12025-01-012025-06-300001396440SI East, LLC | Secured Debt 12024-12-310001396440SI East, LLC | Secured Debt 22025-06-300001396440SI East, LLC | Secured Debt 22025-01-012025-06-300001396440SI East, LLC | Secured Debt 22024-12-310001396440SI East, LLC | Preferred Member Units2025-01-012025-06-300001396440SI East, LLC | Preferred Member Units2024-12-310001396440SI East, LLC | Preferred Member Units2025-06-300001396440Slick Innovations, LLC | Secured Debt 12025-01-012025-06-300001396440Slick Innovations, LLC | Secured Debt 12024-12-310001396440Slick Innovations, LLC | Secured Debt 12025-06-300001396440Slick Innovations, LLC | Secured Debt 22025-06-300001396440Slick Innovations, LLC | Secured Debt 22025-01-012025-06-300001396440Slick Innovations, LLC | Secured Debt 22024-12-310001396440Slick Innovations, LLC | Common Stock2025-01-012025-06-300001396440Slick Innovations, LLC | Common Stock2024-12-310001396440Slick Innovations, LLC | Common Stock2025-06-300001396440Student Resource Center, LLC | Secured Debt 12025-06-300001396440Student Resource Center, LLC | Secured Debt 12025-01-012025-06-300001396440Student Resource Center, LLC | Secured Debt 12024-12-310001396440Student Resource Center, LLC | Preferred Equity2025-01-012025-06-300001396440Student Resource Center, LLC | Preferred Equity2024-12-310001396440Student Resource Center, LLC | Preferred Equity2025-06-300001396440Student Resource Center, LLC | Secured Debt 22025-06-300001396440Student Resource Center, LLC | Secured Debt 22025-01-012025-06-300001396440Student Resource Center, LLC | Secured Debt 22024-12-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2025-01-012025-06-300001396440Superior Rigging & Erecting Co. | Preferred Member Units2024-12-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2025-06-300001396440The Affiliati Network, LLC | Secured Debt 12025-01-012025-06-300001396440The Affiliati Network, LLC | Secured Debt 12024-12-310001396440The Affiliati Network, LLC | Secured Debt 12025-06-300001396440The Affiliati Network, LLC | Secured Debt 22025-06-300001396440The Affiliati Network, LLC | Secured Debt 22025-01-012025-06-300001396440The Affiliati Network, LLC | Secured Debt 22024-12-310001396440The Affiliati Network, LLC | Preferred Stock 12025-01-012025-06-300001396440The Affiliati Network, LLC | Preferred Stock 12024-12-310001396440The Affiliati Network, LLC | Preferred Stock 12025-06-300001396440The Affiliati Network, LLC | Preferred Stock 22025-01-012025-06-300001396440The Affiliati Network, LLC | Preferred Stock 22024-12-310001396440The Affiliati Network, LLC | Preferred Stock 22025-06-300001396440UnionRock Energy Fund II, LP | LP Interests2025-01-012025-06-300001396440UnionRock Energy Fund II, LP | LP Interests2024-12-310001396440UnionRock Energy Fund II, LP | LP Interests2025-06-300001396440UnionRock Energy Fund III, LP | LP Interests2025-01-012025-06-300001396440UnionRock Energy Fund III, LP | LP Interests2024-12-310001396440UnionRock Energy Fund III, LP | LP Interests2025-06-300001396440UniTek Global Services, Inc. | Secured Convertible Debt 12025-06-300001396440UniTek Global Services, Inc. | Secured Convertible Debt 12025-01-012025-06-300001396440UniTek Global Services, Inc. | Secured Convertible Debt 12024-12-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 22025-06-300001396440UniTek Global Services, Inc. | Secured Convertible Debt 22025-01-012025-06-300001396440UniTek Global Services, Inc. | Secured Convertible Debt 22024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 12025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 12025-01-012025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 12024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 22025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 22025-01-012025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 22024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 32025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 32025-01-012025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 32024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 42025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 42025-01-012025-06-300001396440UniTek Global Services, Inc. | Preferred Stock 42024-12-310001396440UniTek Global Services, Inc. | Common Stock2025-01-012025-06-300001396440UniTek Global Services, Inc. | Common Stock2024-12-310001396440UniTek Global Services, Inc. | Common Stock2025-06-300001396440Urgent DSO LLC | Secured Debt2025-06-300001396440Urgent DSO LLC | Secured Debt2025-01-012025-06-300001396440Urgent DSO LLC | Secured Debt2024-12-310001396440Urgent DSO LLC | Preferred Equity2025-06-300001396440Urgent DSO LLC | Preferred Equity2025-01-012025-06-300001396440Urgent DSO LLC | Preferred Equity2024-12-310001396440Wildcats Topco LLC (NVS Heritage) | Common Equity2025-01-012025-06-300001396440Wildcats Topco LLC (NVS Heritage) | Common Equity2024-12-310001396440Wildcats Topco LLC (NVS Heritage) | Common Equity2025-06-300001396440World Micro Holdings, LLC | Secured Debt2025-06-300001396440World Micro Holdings, LLC | Secured Debt2025-01-012025-06-300001396440World Micro Holdings, LLC | Secured Debt2024-12-310001396440World Micro Holdings, LLC | Preferred Equity2025-01-012025-06-300001396440World Micro Holdings, LLC | Preferred Equity2024-12-310001396440World Micro Holdings, LLC | Preferred Equity2025-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 22025-01-012025-06-300001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 22024-12-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 22025-06-300001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-12-310001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-06-300001396440us-gaap:MidwestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-06-300001396440us-gaap:MidwestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-06-300001396440main:NortheastRegionAndCanadaMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-06-300001396440main:NortheastRegionAndCanadaMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-06-300001396440us-gaap:SoutheastRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-06-300001396440us-gaap:SoutheastRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-06-300001396440us-gaap:SouthwestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-06-300001396440us-gaap:SouthwestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-06-300001396440us-gaap:WestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-06-300001396440us-gaap:WestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-06-30
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
(Mark One)
þ    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2026
OR
o    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from:             to             
Commission File Number: 814-00746
Main Street Capital Corporation
(Exact name of registrant as specified in its charter)
Maryland
41-2230745
(State or other jurisdiction of
incorporation or organization)
(I.R.S. Employer
Identification No.)
1300 Post Oak Boulevard, 8th Floor
Houston, TX
77056
(Address of principal executive offices)
(Zip Code)
(713) 350-6000
(Registrant’s telephone number, including area code)
n/a
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol
Name of Each Exchange on Which
Registered
Common Stock, par value $0.01 per shareMAIN
New York Stock Exchange
NYSE Texas
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No o
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
þ
Accelerated filer
o
Non-accelerated filer
o
Smaller reporting company
o
Emerging growth company
o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ
The number of shares outstanding of the issuer’s common stock as of August 6, 2026 was 93,508,461.

TABLE OF CONTENTS
PART I
FINANCIAL INFORMATION
1
2
3
4
5
37
66
113
133
154
155
PART II
OTHER INFORMATION
156
156
156
156
157
158

Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Balance Sheets
(in thousands, except shares and per share amounts)
June 30,
2026
December 31,
2025
(Unaudited)
ASSETS
Investments at fair value:
Control investments (cost: $1,902,897 and $1,824,132, respectively)
$2,587,784 $2,569,626 
Affiliate investments (cost: $904,393 and $881,641, respectively)
1,005,158 965,179 
Non‑Control/Non‑Affiliate investments (cost: $2,167,359 and $2,018,755, respectively)
2,153,102 1,983,312 
Total investments (cost: $4,974,649 and $4,724,528, respectively)
5,746,044 5,518,117 
Cash and cash equivalents58,306 41,959 
Interest and dividend receivable51,541 48,719 
Prepaids and other assets70,147 59,186 
Deferred financing costs (net of accumulated amortization of $19,112 and $17,601, respectively)
15,003 13,720 
Total assets$5,941,041 $5,681,701 
LIABILITIES
Credit Facilities$241,000 $518,000 
March 2029 Notes (inclusive of unamortized debt issuance premiums of $612 and net of unamortized debt issuance costs/discounts of $2,279, respectively)
550,612 347,721 
July 2026 Notes (net of unamortized debt issuance costs/discounts of $22 and $285, respectively)
499,978 499,715 
June 2027 Notes (net of unamortized debt issuance costs/discounts of $287 and $431, respectively)
399,713 399,569 
August 2028 Notes (net of unamortized debt issuance costs/discounts of $1,622 and $2,004, respectively)
348,378 347,996 
SBIC debentures (net of unamortized debt issuance costs of $4,819 and $5,407, respectively)
345,181 344,593 
April 2031 Notes (net of unamortized debt issuance costs of $1,009)
148,991 — 
Accounts payable and other liabilities54,941 67,799 
Interest payable36,711 30,094 
Dividend payable24,740 23,358 
Deferred tax liability, net124,258 108,963 
Total liabilities2,774,503 2,687,808 
Commitments and contingencies (Note K)
NET ASSETS
Common stock, $0.01 par value per share (150,000,000 shares authorized; 93,354,166 and 89,834,849 shares issued and outstanding, respectively)
934 898 
Additional paid-in capital2,633,935 2,457,660 
Total undistributed earnings531,669 535,335 
Total net assets3,166,538 2,993,893 
Total liabilities and net assets$5,941,041 $5,681,701 
NET ASSET VALUE PER SHARE$33.92 $33.33 
The accompanying notes are an integral part of these consolidated financial statements


1
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Operations
(in thousands, except shares and per share amounts)
(Unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
INVESTMENT INCOME:
Control investments:
Interest income$36,990 $27,317 $72,214 $53,219 
Dividend income18,761 30,239 41,604 58,884 
Fee income2,431 2,656 6,028 4,351 
Total investment income from Control investments58,182 60,212 119,846 116,454 
Affiliate investments:
Interest income21,893 17,219 41,746 33,696 
Dividend income8,140 6,990 12,460 13,528 
Fee income2,203 1,558 4,211 2,277 
Total investment income from Affiliate investments32,236 25,767 58,417 49,501 
Non‑Control/Non‑Affiliate investments:
Interest income53,750 56,321 103,979 111,959 
Dividend income497 616 1,530 1,459 
Fee income4,907 1,057 5,906 1,646 
Total investment income from Non-Control/Non-Affiliate investments59,154 57,994 111,415 115,064 
Total investment income149,572 143,973 289,678 281,019 
EXPENSES:
Interest(36,637)(32,519)(70,680)(63,687)
Compensation(14,239)(12,677)(27,424)(24,153)
General and administrative(5,718)(5,919)(11,114)(11,005)
Share-based compensation(5,807)(5,416)(10,912)(10,258)
Expenses allocated to the External Investment Manager6,626 5,892 12,092 11,228 
Total expenses(55,775)(50,639)(108,038)(97,875)
NET INVESTMENT INCOME BEFORE TAXES93,797 93,334 181,640 183,144 
Excise tax expense(659)(818)(1,040)(2,159)
Federal and state income and other tax expenses(2,814)(4,333)(5,697)(6,905)
NET INVESTMENT INCOME 90,324 88,183 174,903 174,080 
NET REALIZED GAIN (LOSS):
Control investments46,326 (2,998)56,361 (2,976)
Affiliate investments— 55,647 — 57,711 
Non‑Control/Non‑Affiliate investments(13,498)(229)(5,560)(31,860)
Total net realized gain32,828 52,420 50,801 22,875 
NET UNREALIZED APPRECIATION (DEPRECIATION):
Control investments(13,398)33,154 (60,606)33,555 
Affiliate investments12,046 (47,745)17,227 (8,742)
Non‑Control/Non‑Affiliate investments33,572 (4,360)25,000 19,426 
Total net unrealized appreciation (depreciation)32,220 (18,951)(18,379)44,239 
Income tax benefit (provision) on net realized gain and net unrealized appreciation (depreciation)(7,795)882 (10,767)(2,578)
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$147,577 $122,534 $196,558 $238,616 
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC AND DILUTED$1.58 $1.37 $2.14 $2.68 
WEIGHTED-AVERAGE SHARES OUTSTANDING—BASIC AND DILUTED93,253,619 89,258,390 91,961,39988,986,215
The accompanying notes are an integral part of these consolidated financial statements


2
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Changes in Net Assets
(in thousands, except shares)
(Unaudited)
Common StockAdditional
Paid-In
Capital		Total
Undistributed
Earnings		Total Net
Asset Value
Number of
Shares		Par
Value
Balances as of December 31, 2024
88,400,391$884 $2,394,492 $402,462 $2,797,838 
Public offering of common stock, net of offering costs89,0911 5,197 — 5,198 
Share‑based compensation—— 4,842 — 4,842 
Dividend reinvestment156,7492 9,085 — 9,087 
Amortization of directors’ deferred compensation—— 108 — 108 
Issuance of restricted stock, net of forfeited shares13,366— — — — 
Net increase in net assets resulting from operations—— — 116,082 116,082 
Dividends to stockholders—— 190 (93,212)(93,022)
Balances as of March 31, 202588,659,597$887 $2,413,914 $425,332 $2,840,133 
Public offering of common stock, net of offering costs195,4542 10,831 — 10,833 
Share‑based compensation —— 5,416 — 5,416 
Purchase of vested stock for employee payroll tax withholding (177,024)(2)(10,013)— (10,015)
Dividend reinvestment 167,7052 9,377 — 9,379 
Amortization of directors’ deferred compensation —— 97 — 97 
Issuance of restricted stock, net of forfeited shares 436,8634 (4)— — 
Net increase in net assets resulting from operations—— — 122,534 122,534 
Dividends to stockholders —— 199 (94,359)(94,160)
Balances as of June 30, 2025
89,282,595$893 $2,429,817 $453,507 $2,884,217 
Balances as of December 31, 2025
89,838,001$898 $2,457,660 $535,335 $2,993,893 
Public offering of common stock, net of offering costs2,430,82525 134,258 — 134,283 
Share‑based compensation—— 5,105 — 5,105 
Dividend reinvestment173,5232 9,959 — 9,961 
Amortization of directors’ deferred compensation—— 90 — 90 
Issuance of restricted stock, net of forfeited shares19,924— — — — 
Net increase in net assets resulting from operations—— — 48,981 48,981 
Dividends to stockholders—— 213 (98,882)(98,669)
Balances as of March 31, 2026
92,462,273$925 $2,607,285 $485,434 $3,093,644 
Public offering of common stock, net of offering costs364,3924 18,867 — 18,871 
Share‑based compensation—— 5,807 — 5,807 
Purchase of vested stock for employee payroll tax withholding(169,445)(2)(8,972)— (8,974)
Dividend reinvestment203,4052 10,645 — 10,647 
Amortization of directors’ deferred compensation—— 86 — 86 
Issuance of restricted stock, net of forfeited shares498,7005 (5)— — 
Net increase in net assets resulting from operations—— — 147,577 147,577 
Dividends to stockholders—— 222 (101,342)(101,120)
Balances as of June 30, 2026
93,359,325$934 $2,633,935 $531,669 $3,166,538 
The accompanying notes are an integral part of these consolidated financial statements


3
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
Six Months Ended
June 30,
2026
2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net increase in net assets resulting from operations$196,558 $238,616 
Adjustments to reconcile net increase in net assets resulting from operations to net cash provided by (used in) operating activities:
Investments in portfolio companies(733,150)(645,993)
Proceeds from sales and repayments of debt investments in portfolio companies457,886 472,012 
Proceeds from sales and return of capital of equity investments in portfolio companies93,892 101,271 
Net unrealized (appreciation) depreciation18,379 (44,239)
Net realized gain(50,801)(22,875)
Accretion of unearned income(12,259)(10,406)
Payment-in-kind interest(8,096)(7,297)
Cumulative dividends(2,135)(1,936)
Share-based compensation expense10,912 10,258 
Amortization of deferred financing costs3,029 3,105 
Deferred taxes15,295 3,945 
Changes in other assets and liabilities:
Interest and dividend receivable and prepaids and other assets(10,411)1,813 
Interest payable6,617 427 
Accounts payable and other liabilities(12,695)(19,401)
Deferred fees and other5,001 2,825 
Net cash provided by (used in) operating activities(21,978)82,125 
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from public offering of common stock, net of offering costs153,154 16,031 
Proceeds from public offering of March 2029 Notes
200,000 — 
Proceeds from public offering of April 2031 Notes150,000 — 
Dividends paid(177,800)(168,050)
Proceeds from Credit Facilities873,000 607,000 
Repayments on Credit Facilities(1,150,000)(514,000)
Debt issuance costs, net(1,055)(4,358)
Purchases of vested stock for employee payroll tax withholding(8,974)(10,015)
Net cash provided by (used in) financing activities38,325 (73,392)
Net increase in cash and cash equivalents16,347 8,733 
CASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD41,959 78,251 
CASH AND CASH EQUIVALENTS AS OF END OF PERIOD$58,306 $86,984 
Supplemental cash flow disclosures:
Interest paid$60,983 $60,068 
Taxes paid$8,734 $16,936 
Non-cash financing activities:
Value of shares issued pursuant to the dividend reinvestment plan$20,608 $18,466 
The accompanying notes are an integral part of these consolidated financial statements


4
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Control Investments (5)
American Nuts, LLC(10)Roaster, Mixer and Packager of Bulk Nuts and Seeds
Secured Debt (9) 3/27/202612.34%SF+8.50%12.34%3/28/2028$321 $321 $321 
Secured Debt (9) 3/25/202512.34%SF+8.50%12.34%3/28/20288,675 8,675 8,675 
Secured Debt (9) 3/25/202512.34%SF+8.50%12.34%3/28/20288,675 8,675 7,205 
Preferred Equity3/25/202526,6388,970 3,780 
26,641 19,981 
Analytical Systems Keco Holdings, LLCManufacturer of Liquid and Gas Analyzers
Secured Debt8/16/201913.25%8/16/20293,692 3,663 3,663 
Preferred Member Units5/20/20212,4112,387 6,030 
Preferred Member Units8/16/20193,1083,200 600 
Warrants (27) 8/16/20194208/16/2029316 — 
9,566 10,293 
Batjer TopCo, LLCHVAC Mechanical Contractor
Secured Debt (25) 3/7/20223/7/2027— (1)— 
Secured Debt (25) 3/7/20223/7/2027— — — 
Secured Debt3/7/202210.00%3/7/20279,833 9,819 9,833 
Preferred Stock (8) 3/7/20224,0734,095 9,500 
13,913 19,333 
BDB Holdings, LLCCasual Restaurant Group
Secured Debt2/24/202512.00%2/27/20272,574 2,574 2,574 
Preferred Equity11/4/202419,536,99519,537 6,450 
22,111 9,024 
Bolder Panther Group, LLCConsumer Goods and Fuel Retailer
Secured Debt (9) (22) 12/31/202011.98%SF+8.36%10/31/2027101,046 100,869 101,046 
Class B Preferred Member Units (8) 12/31/2020140,0008.00%14,000 32,100 
114,869 133,146 
Brewer Crane Holdings, LLCProvider of Crane Rental and Operating Services
Secured Debt (9) 1/9/201813.72%SF+10.00%12/31/20265,016 5,016 5,016 
Preferred Member Units (8) 1/9/20182,9504,280 3,050 
Preferred Member Units (8) 7/7/202531215.00%15.00%360 360 
9,656 8,426 
Bridge Capital Solutions CorporationFinancial Services and Cash Flow Solutions Provider
Preferred Member Units (29) 7/25/201617,7421,000 — 
Warrants (27) 7/25/2016827/25/20262,132 — 
3,132 — 
California Splendor Holdings LLCProcessor of Frozen Fruits


5
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt (25) 3/15/20248/28/2028— (9)(9)
Secured Debt3/30/201814.00%8/28/202825,800 25,781 25,393 
Preferred Member Units (8) 7/31/201911,67115.00%15.00%16,698 16,698 
Preferred Member Units (8) 3/30/20188,72916,402 8,391 
58,872 50,473 
CBT Nuggets, LLCProduces and Sells IT Training Certification Videos
Member Units (8) 6/1/20064161,300 42,170 
Chamberlin Holding LLCRoofing and Waterproofing Specialty Contractor
Secured Debt (9) (25) 2/26/2018SF+6.00%2/26/2029— (33)— 
Secured Debt (9) 2/26/201811.74%SF+8.00%2/26/202941,220 41,023 41,220 
Member Units (8) 2/26/20184,34711,440 45,440 
Member Units (8) (29) 11/2/20181,047,1461,773 4,330 
54,203 90,990 
Charps, LLCPipeline Maintenance and Construction
Unsecured Debt8/26/202014.00%1/31/20305,694 5,319 5,694 
Preferred Member Units (8) 2/3/20171,8291,963 15,180 
7,282 20,874 
Clad-Rex Steel, LLCSpecialty Manufacturer of Vinyl-Clad Metal
Secured Debt (25) 10/28/20227/31/2027— — — 
Secured Debt12/20/201610.00%7/31/20308,904 8,841 8,904 
Secured Debt12/20/201610.00%12/20/2036905 899 905 
Member Units (8) 12/20/20167177,280 14,890 
Member Units (29) 12/20/2016800509 1,510 
17,529 26,209 
Cody Pools, Inc.Designer of Residential and Commercial Pools
Secured Debt3/6/202012.50%12/3/20301,264 1,182 1,264 
Secured Debt3/6/202012.50%12/3/203033,618 33,129 33,618 
Preferred Member Units (8) (29) 3/6/20205878,317 63,390 
42,628 98,272 
Colonial Electric Company LLCProvider of Electrical Contracting Services
Secured Debt (25) 3/31/20213/31/2028— — — 
Secured Debt3/31/20219.00%3/31/20288,779 8,697 8,779 
Preferred Member Units (8) 3/31/202117,2807,680 22,110 
16,377 30,889 
CompareNetworks Topco, LLCInternet Publishing and Web Search Portals
Secured Debt (9) 1/29/201914.72%SF+11.00%1/29/20284,000 3,996 3,937 


6
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Preferred Member Units1/29/20192,2503,520 2,620 
7,516 6,557 
Compass Systems & Sales, LLCDesigner of End-to-End Material Handling Solutions
Secured Debt (25) 11/22/202311/22/2028— (13)(13)
Secured Debt11/22/202313.50%11/22/202815,000 14,929 14,929 
Preferred Equity11/22/20238,0697,842 7,842 
22,758 22,758 
Copper Trail Fund Investments(12) (13)Investment Partnership
LP Interests (CTMH, LP) (30) 7/17/201738.75%315 380 
Cybermedia Technologies, LLCIT and Digital Services Provider
Secured Debt (25) 5/5/20235/5/2028— — — 
Secured Debt5/5/202313.00%5/5/202826,448 26,350 26,095 
Preferred Member Units5/5/202355615,000 770 
Preferred Equity4/1/20252,400,0002,400 6,910 
43,750 33,775 
Datacom, LLCTechnology and Telecommunications Provider
Secured Debt3/1/202210.00%12/31/2030945 945 945 
Secured Debt3/31/202110.00%12/31/20307,722 7,718 2,215 
Preferred Member Units3/31/20219,3602,970 — 
11,633 3,160 
Digital Products Holdings LLCDesigner and Distributor of Consumer Electronics
Secured Debt (9) 4/1/201813.62%SF+10.00%4/27/202911,627 11,569 11,569 
Preferred Member Units (8) 4/1/20183,8579,501 9,835 
21,070 21,404 
Direct Marketing Solutions, Inc.Provider of Omni-Channel Direct Marketing Services
Secured Debt (25) 2/13/20182/28/2031— (28)— 
Secured Debt12/27/202214.00%2/28/203143,857 43,536 43,857 
Preferred Stock2/13/20189,93613,040 31,944 
56,548 75,801 
Doral Holdings, LLCMachinery Moving, Rigging and Millwrighting Provider
Secured Debt (25) 5/20/20255/20/2030— — — 
Secured Debt5/20/202511.00%5/20/203021,500 21,334 21,500 
Preferred Equity (8) 5/20/202513,00013,000 32,150 
34,334 53,650 
Elgin AcquireCo, LLCManufacturer and Distributor of Engine and Chassis Components


7
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt (9) (25) 10/3/2022SF+6.00%10/3/2027— (2)(2)
Secured Debt10/3/202212.00%10/3/202716,661 16,619 16,558 
Secured Debt10/3/20229.00%10/3/20526,184 6,129 6,129 
Common Stock10/3/20222855,726 4,080 
Common Stock (29) 10/3/20229391,558 3,400 
30,030 30,165 
Flame King Holdings, LLCPropane Tank and Accessories Distributor
Secured Debt6/30/202512.00%6/30/203066,000 65,481 66,000 
Common Equity (8) (29) 4/15/20263,9293,929 3,929 
Preferred Equity (8) 10/29/20219,36010,400 57,920 
79,810 127,849 
Gamber-Johnson Holdings, LLCManufacturer of Ruggedized Computer Mounting Systems
Secured Debt (9) (34)6/24/201611.12%SF+7.50%1/1/20281,600 1,600 1,600 
Secured Debt (9) (34)11/22/202411.12%SF+7.50%1/1/202874,966 74,876 74,966 
Member Units (8) 6/24/20169,04217,692 124,460 
Member Units (29) 12/15/2025408304 304 
94,472 201,330 
Garreco, LLCManufacturer and Supplier of Dental Products
Member Units7/15/20131,2001,200 1,340 
GRT Rubber Technologies LLCManufacturer of Engineered Rubber Products
Secured Debt12/21/20189.72%SF+6.00%10/29/20263,146 3,145 3,146 
Secured Debt12/19/201411.72%SF+8.00%10/29/202640,493 40,477 40,493 
Member Units (8) 12/19/20145,87913,065 42,910 
56,687 86,549 
Harris Preston Fund Investments(12) (13)Investment Partnership
LP Interests (2717 MH, L.P.) (30) 10/1/201749.26%1,158 1,865 
LP Interests (2717 HPP-MS, L.P.) (8) (30) 3/11/202249.26%256 257 
LP Interests (2717 GRE-LP, L.P.) (30) 4/18/202443.05%441 516 
LP Interests (423 COR, L.P.) (30) 6/2/202226.89%2,900 4,994 
4,755 7,632 
Harrison Hydra-Gen, Ltd.Manufacturer of Hydraulic Generators
Common Stock (8) 6/4/2010107,456718 6,500 
IG Investor, LLCMilitary and Other Tactical Gear


8
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt6/21/202313.00%6/21/2028800 784 800 
Secured Debt6/21/202313.00%6/21/202833,464 33,330 33,464 
Common Equity6/21/202314,40014,400 31,200 
48,514 65,464 
Jensen Jewelers of Idaho, LLCRetail Jewelry Store
Secured Debt (9) (25) 8/29/2017P+6.75%11/14/2026— — — 
Secured Debt (9) 11/14/200613.50%P+6.75%11/14/2026578 578 578 
Member Units (8) 11/14/2006627811 12,270 
1,389 12,848 
JorVet Holdings, LLCSupplier and Distributor of Veterinary Equipment and Supplies
Secured Debt3/28/202212.00%3/28/202723,321 23,286 23,286 
Preferred Equity (8) 3/28/2022109,92610,993 13,740 
34,279 37,026 
JTI Electrical & Mechanical, LLC(10)Electrical, Mechanical and Automation Services
Secured Debt (9) (14) 8/25/20258.89%SF+5.00%8.89%6/20/20306,529 6,529 6,280 
Secured Debt (9) (14) 8/25/20259.89%SF+6.00%9.89%6/20/203036,513 36,513 7,685 
Secured Debt (14) 8/25/202515.00%15.00%6/20/203016,842 6,204 — 
Common Equity12/22/20211,684,2111,684 — 
Common Equity8/25/2025842,000842 — 
51,772 13,965 
Kickhaefer Manufacturing Company, LLCPrecision Metal Parts Manufacturing
Secured Debt10/31/201811.50%10/31/202911,509 11,402 11,402 
Secured Debt10/31/20189.00%10/31/20483,883 3,853 3,853 
Preferred Equity (8) 10/31/201858112,240 19,850 
Member Units (8) (29) 10/31/2018800992 4,190 
28,487 39,295 
Legacy Swim GroupSwim Lessons Provider
Secured Debt4/30/202613.00%11/7/2030805 789 789 
Secured Debt11/7/202513.00%11/7/203032,000 31,723 31,723 
Preferred Equity (8) 11/7/202536614,996 14,996 
47,508 47,508 
Metalforming Holdings, LLCDistributor of Sheet Metal Folding and Metal Forming Equipment
Secured Debt (25) 10/19/202210/19/2026— (9)— 
Secured Debt10/19/20228.75%10/19/202717,237 17,192 17,237 
Preferred Equity (8) 10/19/20225,915,5858.00%8.00%5,916 5,916 
Common Stock (8) 10/19/20221,537,2191,537 10,670 
24,636 33,823 
Moffitt Holdings, LLCBulk Fuel and Lubricants Distributor
Secured Debt3/19/202513.00%3/19/203033,250 33,005 33,005 


9
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Preferred Equity3/19/202514,30014,300 15,560 
47,305 48,565 
MS Private Loan Fund I, LP(12) (13)Investment Partnership
Secured Debt (9) 1/26/20216.62%SF+3.00%3/23/203116,480 16,480 16,480 
LP Interests (8) (30) 1/26/202114.51%15,000 14,195 
31,480 30,675 
MS Private Loan Fund II, LP(12) (13)Investment Partnership
Secured Debt (9) (25) 9/5/2023SF+3.00%3/5/2029— (71)(71)
LP Interests (8) (30) 9/5/202312.46%10,500 11,503 
10,429 11,432 
MSC Adviser I, LLC(16)Third Party Investment Advisory Services
Member Units (8) 11/22/2013100%29,500 225,200 
MSC Income Fund, Inc.(12) (13)Business Development Company
Secured Debt (9) (25) 2/26/2026SF+4.50%12/31/2029— (137)(137)
Common Equity (8) 5/2/20222,025,22030,013 23,432 
29,876 23,295 
MVI MSO, LLCVascular Practice Specializing in Comprehensive Vein and Artery Diagnosis and Treatment
Secured Debt3/28/202513.00%3/28/20309,850 9,777 9,777 
Preferred Equity (8) 3/28/20252702,700 3,430 
12,477 13,207 
NAPCO Precast, LLCPrecast Concrete Manufacturing
Member Units (8) 1/31/20082,9554,145 10,260 
Member Units (8) (29) 9/30/2025468— 620 
4,145 10,880 
Nello Industries Investco, LLCManufacturer of Steel Poles and Towers For Critical Infrastructure
Secured Debt6/4/202413.00%6/4/202941,344 41,155 41,344 
Preferred Equity (8) 6/4/2024336,80311,197 29,550 
52,352 70,894 
NexRev LLCProvider of Energy Efficiency Products & Services
Preferred Member Units2/28/2018103,144,1868,213 13,350 
NRP Jones, LLCManufacturer of Hoses, Fittings and Assemblies
Secured Debt (14) 12/21/201712.00%9/18/20282,191 2,161 369 
Preferred Equity12/8/2011495,000482 — 
Member Units12/22/201174,761114 — 
Member Units12/22/201174,7613,823 — 
Common Equity (29) 6/20/2025927,581928 928 


10
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
7,508 1,297 
NuStep, LLCDesigner, Manufacturer and Distributor of Fitness Equipment
Secured Debt (9) 1/31/201710.22%SF+6.50%1/31/20282,600 2,600 2,600 
Secured Debt1/31/201712.00%1/31/203018,440 18,184 17,689 
Preferred Member Units11/2/20222,4002,785 6,470 
Preferred Member Units1/31/201748611,866 10,040 
35,435 36,799 
OMi Topco, LLCManufacturer of Overhead Cranes
Secured Debt8/31/202112.00%12/31/202929,000 28,961 29,000 
Preferred Member Units (8) 4/1/20089001,080 77,300 
30,041 106,300 
Orttech Holdings, LLCDistributor of Industrial Clutches, Brakes and Other Components
Secured Debt (9) (25) 7/30/2021SF+11.00%7/31/2026— — — 
Secured Debt (9) 7/30/202114.72%SF+11.00%7/31/202620,760 20,757 20,760 
Preferred Stock (29) 7/30/202110,00010,000 10,340 
30,757 31,100 
Pinnacle TopCo, LLCManufacturer and Distributor of Garbage Can Liners, Poly Bags, Produce Bags, and Other Similar Products
Secured Debt (25) 12/21/202312/21/2028— (8)— 
Secured Debt12/21/202313.00%12/21/202826,080 25,950 26,080 
Preferred Equity (8) 12/21/202344012,540 20,440 
38,482 46,520 
PPL RVs, Inc.Recreational Vehicle Dealer
Secured Debt (9) (25) 10/31/2019SF+8.75%11/15/2027— (2)— 
Secured Debt (9) 11/15/201612.54%SF+8.75%11/15/202715,191 15,143 15,191 
Common Stock (8) 6/10/20102,0002,150 16,060 
Common Stock (8) (29) 6/14/2022238,421238 678 
17,529 31,929 
Principle Environmental, LLCNoise Abatement Service Provider
Secured Debt7/1/201113.00%11/15/20264,897 4,890 4,897 
Preferred Member Units (8) 2/1/201121,8065,709 15,740 
Common Stock1/27/20211,0371,200 750 
11,799 21,387 
Quality Lease Service, LLCProvider of Rigsite Accommodation Unit Rentals and Related Services
Member Units6/8/20151,0007,508 477 
River Aggregates, LLCProcessor of Construction Aggregates
Member Units (8) (29) 12/20/20131,500369 9,780 


11
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Robbins Bros. Jewelry, Inc.Bridal Jewelry Retailer
Secured Debt (14) (25) 12/15/202112/15/2026— (73)(73)
Secured Debt (14) 12/15/202112.50%10.00%12/15/202633,660 31,345 13,841 
Preferred Equity12/15/202111,07011,070 — 
42,342 13,768 
Shift Transit ParentCo, LPMicromobility Operator for Bikeshare and Scootershare
Secured Debt4/22/202613.00%4/22/20291,750 1,734 1,734 
Secured Debt4/22/202613.00%4/22/203117,800 17,632 17,632 
Secured Debt4/22/202613.00%4/22/203110,200 10,104 10,104 
Preferred Equity4/22/202612,00012,000 12,000 
41,470 41,470 
Spring Engineering Holdings, LLCProvider of Architectural, Engineering and Land Planning and Entitlement Services
Secured Debt2/27/202613.00%2/27/203123,391 23,176 23,176 
Preferred Member Units2/27/20264,6504,650 4,650 
27,826 27,826 
Tedder Industries, LLCManufacturer of Firearm Holsters and Accessories
Secured Debt (17) 8/31/201812.00%12.00%8/31/20231,355 1,335 1,355 
Secured Debt (14) (17) 8/31/201812.00%12.00%8/31/202315,200 15,045 5,828 
Preferred Member Units8/28/20236,605661 — 
Preferred Member Units2/1/20235,643564 — 
Preferred Member Units8/31/20185449,245 — 
26,850 7,183 
Televerde, LLCProvider of Telemarketing and Data Services
Preferred Stock1/26/2022248718 1,794 
Member Units1/6/20114601,290 612 
2,008 2,406 
Trantech Radiator Topco, LLCTransformer Cooling Products and Services
Secured Debt5/31/201911.50%5/31/20311,600 1,600 1,600 
Secured Debt5/31/201913.50%5/31/203131,280 31,070 31,280 
Secured Debt11/21/20259.00%5/31/20272,040 2,036 2,040 
Secured Debt3/25/20269.00%5/31/20272,100 2,092 2,100 
Secured Debt3/25/20269.00%5/31/2027400 399 400 
Common Stock (8) 5/31/20196546,021 27,450 
Common Equity (29) 11/21/2025723696 696 
43,914 65,566 
Trinity Medical Holdings, LLCOrthopedic Healthcare Platform
Secured Debt (25) 10/8/202510/8/2030— — — 


12
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt10/8/202513.00%10/8/203058,500 58,002 58,500 
Preferred Equity (8) 10/8/202522,50022,500 33,190 
80,502 91,690 
Victory Energy Operations, LLCProvider of Industrial and Commercial Combustion Systems
Secured Debt10/3/202413.00%10/3/20292,154 2,132 2,132 
Secured Debt10/3/202413.00%10/3/202948,251 47,937 47,937 
Preferred Equity10/3/202451,42122,471 25,210 
72,540 75,279 
Volusion, LLCProvider of Online Software-as-a-Service eCommerce Solutions
Secured Debt (17) 3/31/202310.00%3/31/20252,100 2,100 2,100 
Preferred Member Units3/31/20235,097,5951,229 1,746 
Preferred Member Units3/31/2023142,512— — 
Preferred Member Units1/26/20154,876,67014,000 — 
Common Stock3/31/20231,802,7802,576 — 
19,905 3,846 
VVS Holdco LLCOmnichannel Retailer of Animal Health Products
Secured Debt (9) (25) 12/1/2021SF+6.00%12/1/2026— — — 
Secured Debt12/1/202111.50%12/1/202622,800 22,781 22,781 
Preferred Equity (29) 12/1/202112,24012,240 12,240 
35,021 35,021 
Ziegler’s NYPD, LLCCasual Restaurant Group
Secured Debt7/31/202512.00%12/31/2027150 150 150 
Secured Debt12/30/202412.00%12/31/20271,750 1,750 1,633 
Preferred Member Units6/30/201516,8783,154 — 
5,054 1,783 
Subtotal Control investments (81.7% of net assets at fair value)
$1,902,897 $2,587,784 
Affiliate Investments (6)
AAC Holdings, Inc.(11)Substance Abuse Treatment Service Provider
Secured Debt4/15/202621.00%21.00%11/24/2032$1,364 $1,094 $1,364 
Secured Debt11/24/202521.00%21.00%11/24/20321,141 1,041 1,141 
Secured Debt4/1/202520.00%20.00%11/24/2032988 988 988 
Secured Debt (14) 3/28/202520.00%20.00%11/24/20323,109 3,109 1,385 
Secured Debt (14) 3/28/202520.00%20.00%11/24/20323,109 3,109 1,385 
Preferred Equity3/28/202512,621,6358,520 — 
Common Stock12/11/2020654,7433,148 — 
21,009 6,263 
BLI Acquisition, LLCHealthcare Provider Data Services
Secured Debt2/2/202614.00%2/2/203113,200 13,079 13,079 


13
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Member Units2/2/2026210,0002,100 2,100 
15,179 15,179 
Boccella Precast Products LLCManufacturer of Precast Hollow Core Concrete
Secured Debt9/23/202110.00%2/28/2027256 256 256 
Member Units (8) 6/30/20172,160,0002,256 2,630 
2,512 2,886 
Buca C, LLCCasual Restaurant Group
Secured Debt (14) (17) 8/7/202415.00%15.00%11/4/20249,086 6,366 — 
Secured Debt (14) (17) 6/28/202415.00%15.00%4/1/202519 — — 
Secured Debt (14) (17) 6/30/201515.00%15.00%8/31/202311,977 5,861 — 
Preferred Member Units6/30/201566.00%6.00%4,770 — 
16,997 — 
Career Team Holdings, LLCProvider of Workforce Training and Career Development Services
Secured Debt (9) (25) 12/17/2021SF+6.00%6/5/2030— (40)(40)
Secured Debt12/17/202113.00%6/5/203021,892 21,516 21,516 
Common Stock12/17/2021540,5975,406 5,406 
26,882 26,882 
CenterPeak Holdings, LLCExecutive Search Services
Preferred Equity (8) 12/10/20213,3103,635 28,300 
CGMS Parent LLCCommercial Subcontractor Specializing in Concrete Flatwork
Secured Debt (25) 12/26/202512/26/2030— (35)(35)
Secured Debt12/26/202513.00%12/26/203024,688 24,469 24,469 
Preferred Equity (8) 12/26/20252,00010,000 10,000 
34,434 34,434 
Classic H&G Holdings, LLCProvider of Engineered Packaging Solutions
Preferred Member Units3/12/2020154— 2,040 
Congruent Credit Opportunities Funds(12) (13)Investment Partnership
LP Interests (Congruent Credit Opportunities Fund III, LP) (30) 2/4/201512.49%308 836 
Connect Telecommunications Solutions Holdings, Inc.(13) (21)Value-Added Distributor of Fiber Products and Equipment
Secured Debt10/9/202413.00%10/9/202923,075 22,925 22,925 
Preferred Equity10/9/202422,30412,596 12,596 
35,521 35,521 


14
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
DMA Industries, LLCDistributor of Aftermarket Ride Control Products
Secured Debt6/18/202413.00%6/18/20294,642 4,616 4,642 
Secured Debt11/19/202113.00%6/18/202912,800 12,760 12,800 
Preferred Equity11/19/20215,9445,944 15,884 
Preferred Equity (8) 6/18/20243,06815.00%15.00%4,038 9,168 
27,358 42,494 
Dos Rios Partners(12) (13)Investment Partnership
LP Interests (Dos Rios Partners, LP) (30) 4/25/201320.24%5,896 6,886 
LP Interests (Dos Rios Partners - A, LP) (30) 4/25/20136.43%1,872 2,187 
7,768 9,073 
Dos Rios Stone Products LLC(10)Limestone and Sandstone Dimension Cut Stone Mining Quarries
Class A Preferred Units (29) 6/27/20162,000,0002,000 — 
EIG Fund Investments(12) (13)Investment Partnership
LP Interests (EIG Global Private Debt Fund-A, L.P.) (8) 11/6/20155,000,00084 — 
FCC Intermediate Holdco, LLCSupply Chain Management Services
Secured Debt (25) 5/28/20245/28/2029— — — 
Secured Debt5/28/202413.00%5/29/202930,340 28,085 30,340 
Warrants (8) (27) 5/28/2024125/28/20343,920 13,600 
32,005 43,940 
Freeport Financial Funds(12) (13)Investment Partnership
LP Interests (Freeport Financial SBIC Fund LP) (30) 3/23/20159.30%1,642 704 
LP Interests (Freeport First Lien Loan Fund III LP) (30) 7/31/20155.95%586 108 
2,228 812 
FRG AcquireCo, LLCTechnology Focused Risk Management Advisory Firm
Secured Debt (25) 9/22/20259/22/2028— (15)(15)
Secured Debt9/22/202513.50%9/22/20308,482 8,411 8,411 
Preferred Equity9/22/20253,5003,500 3,500 
11,896 11,896 
GFG Group, LLCGrower and Distributor of a Variety of Plants and Products to Other Wholesalers, Retailers and Garden Centers
Secured Debt3/31/202113.50%3/31/203114,173 14,059 14,173 
Preferred Member Units (8) 3/31/20212264,900 10,940 


15
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
18,959 25,113 
Gulf Manufacturing, LLC(13)Manufacturer of Specialty Fabricated Industrial Piping Products
Secured Debt3/15/202411.76%SF+8.13%3/15/20294,000 3,973 3,913 
Secured Debt3/15/202411.76%SF+8.13%3/15/202936,700 35,949 35,949 
Preferred Equity12/23/20252082,077 5,190 
Member Units (8) 8/31/20074382,980 3,630 
Common Stock (8) (29) 11/18/2024888888 1,530 
45,867 50,212 
Harris Preston Fund Investments(12) (13)Investment Partnership
LP Interests (HPEP 3, L.P.) (30) 8/9/20178.22%1,297 3,806 
LP Interests (HPEP 4, L.P.) (30) 7/12/202211.61%7,694 9,617 
LP Interests (423 HAR, L.P.) (8) (30) 6/2/202315.60%750 1,302 
9,741 14,725 
Hawk Ridge Systems, LLCValue-Added Reseller of Engineering Design and Manufacturing Solutions
Secured Debt (9) (25) 12/2/2016SF+6.00%1/15/2029— (21)— 
Secured Debt (25) 1/2/20261/15/2029— — — 
Secured Debt (25) 1/2/20261/15/2029— — — 
Secured Debt12/2/201612.00%1/15/202949,871 49,624 49,871 
Preferred Member Units (8) 12/2/20162262,850 26,310 
Preferred Member Units (29) 12/2/2016226150 1,380 
52,603 77,561 
Houston Plating and Coatings, LLCProvider of Plating and Industrial Coating Services
Unsecured Convertible Debt5/1/201710.00%4/2/20293,000 2,973 3,000 
Member Units (8) 1/8/2003322,2972,352 3,190 
5,325 6,190 
Independent Pet Partners Intermediate Holdings, LLC(10)Omnichannel Retailer of Specialty Pet Products
Common Equity4/7/202318,006,40718,300 18,920 
Infinity X1 Holdings, LLCManufacturer and Supplier of Personal Lighting Products
Secured Debt (25) 2/2/20263/31/2028— — — 
Secured Debt3/31/202312.00%3/31/202814,849 14,841 14,849 
Preferred Equity (8) 3/31/202387,3604,368 16,790 
19,209 31,639 
Integral Energy Services(10)Nuclear Power Staffing Services
Secured Debt (9) 8/20/202111.46%SF+7.50%8/20/202712,219 12,119 11,870 
Preferred Equity (8) 12/7/20233,18810.00%10.00%296 435 
Preferred Equity6/3/20253,07810.00%10.00%328 490 


16
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Common Stock8/20/20219,9681,356 420 
14,099 13,215 
Iron-Main Investments, LLCConsumer Reporting Agency Providing Employment Background Checks and Drug Testing
Secured Debt (25) 6/18/20266/30/2031— (16)(16)
Secured Debt8/2/202113.00%6/30/203151,497 50,990 50,990 
Preferred Equity6/26/202471125.00%25.00%711 1,170 
Preferred Equity9/26/202515525.00%25.00%155 155 
Preferred Equity6/18/202613625.00%25.00%136 136 
Common Stock8/3/2021203,0162,756 2,850 
54,732 55,285 
ITA Holdings Group, LLCAir Ambulance Services
Secured Debt (9) 6/21/202310.90%SF+7.00%6/21/20271,180 1,175 1,180 
Secured Debt (9) 6/30/202510.90%SF+7.00%6/21/20276,490 6,480 6,490 
Secured Debt (9) 6/21/202310.90%SF+7.00%6/21/20274,935 4,669 4,935 
Secured Debt (9) 6/21/202310.90%SF+7.00%6/21/20274,935 4,669 4,935 
Secured Debt (9) 6/30/202510.90%SF+7.00%6/21/20271,770 1,767 1,770 
Secured Debt (9) 3/4/202610.90%SF+7.00%6/21/20272,360 2,360 2,360 
Warrants (8) (27) 6/21/2023193,3076/21/20332,091 14,830 
23,211 36,500 
Kennedy Fab HoldCo, LLCStructural Steel Fabricator Specializing in Fabrication, Product Finishing and Field Services
Preferred Equity (8) 3/4/202611,49011,490 11,490 
11,490 11,490 
KMS, LLC(10)Wholesaler of Closeout and Value-Priced Products
Secured Debt (9) 12/29/20259.23%SF+5.50%10/1/2028543 511 543 
Secured Debt2/10/202512.50%10/1/20281,173 1,153 1,173 
Secured Debt2/10/202512.50%10/1/2028855 855 855 
Preferred Equity2/10/20259,2134,890 6,270 
7,409 8,841 
Mills Fleet Farm Group, LLC(10)Omnichannel Retailer of Work, Farm and Lifestyle Merchandise
Secured Debt (9) 12/19/20249.16%SF+5.50%9.16%1/28/20313,045 3,045 2,995 
Secured Debt (9) (26) 4/11/20259.17%SF+5.50%9.17%1/28/20311,808 1,808 1,779 
Preferred Equity (8) (29) 12/19/202466,30615,512 12,340 
20,365 17,114 
MoneyThumb Acquisition, LLCProvider of Software-as-a-Service Financial File Conversion and Reconciliation
Secured Debt8/19/202413.00%8/19/20296,385 6,071 6,071 
Preferred Member Units (8) 8/19/2024163,28212.00%12.00%2,042 2,890 


17
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Warrants (27) 8/19/202459,3688/19/2029594 1,080 
8,707 10,041 
Nearshore AcquireCo, LLCProvider of Outsourcing Services
Secured Debt (25) 11/12/202511/12/2030— (22)(22)
Secured Debt (25) 11/12/202511/12/2030— (55)(55)
Secured Debt11/12/202513.00%11/12/203021,900 21,710 21,710 
Preferred Equity11/12/202510,520,0005,260 5,360 
26,893 26,993 
OnAsset Intelligence, Inc.Provider of Transportation Monitoring / Tracking Products and Services
Secured Debt (14) 4/18/201112.00%12.00%9/30/20264,415 4,415 1,346 
Secured Debt (14) 5/10/201312.00%12.00%9/30/20262,116 2,116 645 
Secured Debt (14) 3/21/201412.00%12.00%9/30/2026983 983 300 
Secured Debt (14) 5/20/201412.00%12.00%9/30/2026964 964 294 
Unsecured Debt (14) 6/5/201710.00%10.00%9/30/2026305 305 — 
Preferred Stock4/18/20119127.00%7.00%1,981 — 
Common Stock4/15/2021635830 — 
Warrants (27) 4/18/20114,6995/10/20271,089 — 
12,683 2,585 
Oneliance, LLCConstruction Cleaning Company
Preferred Stock (8) 8/6/20211,1281,128 3,270 
RA Outdoors LLC(10)Software Solutions Provider for Outdoor Activity Management
Secured Debt (9) 4/8/202110.58%SF+6.75%10.58%6/30/20271,510 1,510 1,258 
Secured Debt (9) 2/5/202510.58%SF+6.75%10.58%6/30/2027478 478 399 
Secured Debt (9) 7/17/202510.58%SF+6.75%10.58%6/30/2027467 467 389 
Secured Debt (9) 4/8/202110.58%SF+6.75%10.58%6/30/202715,794 15,788 13,160 
Common Equity8/12/2024110— — 
18,243 15,206 
Revenue Recovery Holdings, LLCThird Party Tax Collection Services
Secured Debt (25) 7/25/20257/25/2030— (16)(16)
Secured Debt7/25/202513.00%7/25/20306,700 6,646 6,646 
Preferred Equity7/25/2025104,9041,049 1,960 
7,679 8,590 
RFG AcquireCo, LLCAerial Survey, Aerial Survey Equipment Sales & Rental, Aircraft Maintenance
Secured Debt (25) 6/2/20256/2/2027— (5)(5)
Secured Debt6/2/202513.50%6/2/203012,000 11,910 11,910 
Secured Debt6/2/202513.50%6/2/203041,500 41,404 41,404 
Preferred Equity6/2/202511,40111,401 12,771 


18
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
64,710 66,080 
SI East, LLCRigid Industrial Packaging Manufacturing
Secured Debt8/31/201811.80%6/16/20282,250 2,242 2,250 
Secured Debt (23) 6/16/202312.84%6/16/202866,850 66,785 66,850 
Preferred Member Units (8) 8/31/20181651,525 16,550 
70,552 85,650 
Slick Innovations, LLCText Message Marketing Platform
Secured Debt9/13/201814.00%3/21/203022,760 22,574 22,760 
Common Stock9/13/201870,000— 2,890 
22,574 25,650 
Specialized Aviation Holdings, LLCDistributor and Service and Maintenance Provider for Specialty Aircraft
Secured Debt8/29/202513.00%8/29/203022,875 22,688 22,688 
Preferred Stock (8) 8/29/202525,00015,000 15,000 
37,688 37,688 
Student Resource Center, LLC(10)Higher Education Services
Secured Debt9/11/20248.50%8.50%12/31/2027230 230 860 
Secured Debt (14) 12/31/20228.50%8.50%12/31/20275,327 4,884 1,708 
Preferred Equity12/31/20225,907,649— — 
5,114 2,568 
Superior Rigging & Erecting Co.Provider of Steel Erecting, Crane Rental & Rigging Services
Preferred Member Units (8) 8/31/20201,6364,500 18,480 
The Affiliati Network, LLCPerformance Marketing Solutions
Preferred Stock9/1/2023312,910313 313 
Preferred Stock (8) 8/9/20211,280,0006,400 6,400 
6,713 6,713 
UnionRock Energy Fund II, LP(12) (13)Investment Partnership
LP Interests (30) 6/15/202011.11%2,542 4,228 
UnionRock Energy Fund III, LP(12) (13)Investment Partnership
LP Interests (8) (30) 6/6/202314.91%4,694 5,898 
UniTek Global Services, Inc.(11)Provider of Outsourced Infrastructure Services
Preferred Stock8/21/201811,450,41620.00%20.00%8,416 11,208 
Preferred Stock6/30/201721,382,14719.00%19.00%3,667 — 
Preferred Stock1/15/201542,338,44013.50%13.50%7,924 — 


19
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Common Stock4/1/20202,370,059— — 
20,007 11,208 
Urgent DSO LLCGeneral and Emergency Dentistry Practice
Secured Debt2/16/202413.50%2/16/20298,800 8,753 8,491 
Preferred Equity (8) 2/16/20244,0004,614 772 
13,367 9,263 
Wildcats Topco LLCProvider of Veterinary Services and Products
Common Equity5/8/202522,426,71122,427 24,640 
World Micro Holdings, LLCSupply Chain Management
Secured Debt12/12/202213.00%12/12/20279,227 9,201 9,201 
Preferred Equity (8) 12/12/20223,8453,845 3,845 
13,046 13,046 
Subtotal Affiliate investments (31.7% of net assets at fair value)
$904,393 $1,005,158 
Non-Control/Non-Affiliate Investments (7)
Adams Publishing Group, LLC(10)Local Newspaper Operator
Secured Debt (9) (33)3/11/202211.00%SF+8.00%1.00%3/11/2027$9,619 $9,619 $9,584 
Secured Debt (9) (33)11/26/202511.00%SF+8.00%1.00%3/11/2027754 746 746 
Secured Debt (9) (33)3/11/202211.00%SF+8.00%1.00%3/11/202715,274 15,266 15,209 
25,631 25,539 
AGS American Glass Services Acquisition, LLC(10)Provider of Custom Glass Fabrication & Installation and Specialty Coating Solutions
Secured Debt (9) (25) 7/24/2025SF+5.50%7/24/2031— (32)(32)
Secured Debt (9) (25) 7/24/2025SF+5.50%7/24/2031— (18)(18)
Secured Debt (9) 7/24/20259.16%SF+5.50%7/24/20319,164 9,049 9,081 
Preferred Equity7/24/20257,292729 570 
9,728 9,601 
Airo Purchaser, Inc.(10)Provider of HVAC and Plumbing Installation Services
Secured Debt (9) (25) 8/1/2025SF+5.25%8/1/2030— (56)(56)
Secured Debt (9) (25) 8/1/2025SF+5.25%8/1/2030— (28)(28)
Secured Debt (9) 8/1/20258.91%SF+5.25%8/1/203027,457 27,065 27,457 
Common Equity8/1/20251,5211,521 1,650 
28,502 29,023 
AMEREQUIP LLC(10)Full Services Provider Including Design, Engineering and Manufacturing of Commercial and Agricultural Equipment


20
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Common Stock (8) 8/31/20222351,844 — 
American Health Staffing Group, Inc.(10)Healthcare Temporary Staffing
Secured Debt (9) (25) 11/19/2021P+5.25%11/19/2028— (2)(2)
Secured Debt (9) 11/19/202112.00%P+5.25%11/19/20285,376 5,368 5,376 
5,366 5,374 
ArborWorks, LLC(10)Vegetation Management Services
Secured Debt11/6/202315.00%15.00%11/6/20284,503 4,503 4,503 
Secured Debt (9) 11/6/202310.24%SF+6.50%10.24%11/6/20289,458 9,458 9,458 
Preferred Equity11/6/202332,50714,060 18,353 
Preferred Equity11/6/202332,507— — 
Common Equity11/9/20213,898234 — 
28,255 32,314 
Archer Systems, LLC(10)Mass Tort Settlement Administration Solutions Provider
Common Stock (8) 8/11/20221,387,8321,388 2,450 
ATS Operating, LLC(10)For-Profit Thrift Retailer
Secured Debt (9) 1/18/20229.95%SF+6.00%1/18/20281,440 1,392 1,440 
Secured Debt (9) 1/18/20228.95%SF+5.00%1/18/20286,660 6,660 6,660 
Secured Debt (9) 1/18/202210.95%SF+7.00%1/18/20286,660 6,660 6,660 
Common Stock1/18/2022720,000720 1,020 
15,432 15,780 
Auria Space, LLC(10)Provider of Satellite Operations and Command Software for Defense and Intelligence Platforms
Secured Debt (9) (25) 12/31/2025SF+5.00%12/31/2030— (151)(151)
Secured Debt (9) 12/31/20258.64%SF+5.00%12/31/203060,805 59,988 60,805 
Secured Debt (9) 12/31/20258.64%SF+5.00%12/31/203057,004 56,245 57,004 
Member Units2/6/2026562,7143,040 3,040 
119,122 120,698 
AVEX Aviation Holdings, LLC(10)Specialty Aircraft Dealer & MRO Provider
Secured Debt (9) (25) 12/23/2022SF+7.25%12/23/2027— (48)(48)
Secured Debt (9) (25) 12/18/2025SF+7.25%12/23/2027— (28)(28)
Secured Debt (9) 12/23/202211.14%SF+7.25%12/23/202723,141 22,841 23,141 
Common Equity12/15/2021984934 1,212 
23,699 24,277 
Behavior Development Group Holdings(10)Applied Behavior Analysis Therapy Provider
Secured Debt (9) (32) 12/17/20259.69%SF+6.00%12/17/2030900 880 900 
Secured Debt (9) 12/17/20259.73%SF+6.00%12/17/20309,548 9,421 9,548 
Common Equity12/17/2025300300 300 


21
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
10,601 10,748 
Berry Aviation, Inc.(10)Charter Airline Services
Preferred Member Units (29) 3/8/2024286,109286 347 
Preferred Member Units (29) 11/12/2019122,416— — 
Preferred Member Units (29) 7/6/20181,548,387— — 
286 347 
Bluestem Brands, Inc.(11)Multi-Channel Retailer of General Merchandise
Secured Debt (9) (14) (17) 1/9/202412.23%SF+8.50%11.23%5/6/2026202 126 252 
Secured Debt (9) (14) (17) 10/19/202214.25%P+7.50%13.25%5/6/20262,734 2,685 84 
Secured Debt (9) (14) (17) 8/28/202012.23%SF+8.50%11.23%5/6/20264,183 3,908 — 
Common Stock10/1/2020723,1841 — 
Warrants (27) 10/19/2022163,29510/19/20321,036 — 
7,756 336 
B-O-F Corporation(10)Manufacturer of Gravity Flow Shelving Solutions for Retail Applications
Secured Debt (9) (25) 2/3/2025SF+5.75%2/3/2030— (15)(15)
Secured Debt (9) 2/3/20258.44%SF+4.75%2/3/20303,938 3,889 3,919 
Secured Debt (9) 2/3/202510.44%SF+6.75%2/3/20303,938 3,889 3,919 
Common Equity2/3/2025248,718249 249 
8,012 8,072 
Bond Brand Loyalty ULC(10) (13) (21)Provider of Loyalty Marketing Services
Secured Debt (9) 5/1/20239.59%SF+5.75%5/1/2028285 275 285 
Secured Debt (9) 10/31/20259.59%SF+5.75%5/1/20281,389 1,368 1,389 
Secured Debt (9) 5/1/20238.59%SF+4.75%5/1/20286,244 6,199 6,244 
Secured Debt (9) 5/1/202310.59%SF+6.75%5/1/20286,244 6,199 6,244 
Preferred Equity5/1/2023571571 610 
Common Equity5/1/2023571— — 
14,612 14,772 
Brainworks Software, LLC(10)Advertising Sales and Newspaper Circulation Software
Secured Debt (9) (14) (17) 8/12/201414.00%P+7.25%7/22/2019761 761 — 
Secured Debt (9) (14) (17) 8/12/201414.00%P+7.25%7/22/20197,056 7,056 — 
7,817 — 
Brightwood Capital Fund Investments(12) (13)Investment Partnership
LP Interests (Brightwood Capital Fund III, LP) (30) 7/21/20141.59%4,898 2,607 
LP Interests (Brightwood Capital Fund IV, LP) (8) (30) 10/26/20160.59%3,150 2,984 
LP Interests (Brightwood Capital Fund V, LP) (8) (30) 7/12/20210.72%4,900 5,146 
12,948 10,737 


22
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Channel Partners Intermediateco, LLC(10)Outsourced Consumer Services Provider
Secured Debt (9) (32) 2/7/202210.66%SF+6.75%2/7/20277,354 7,298 7,354 
Secured Debt (9) 2/7/202210.64%SF+6.75%2/7/202735,608 35,520 35,608 
Secured Debt (9) 6/24/202210.64%SF+6.75%2/7/20271,973 1,968 1,973 
Secured Debt (9) 3/27/202310.64%SF+6.75%2/7/20274,768 4,749 4,768 
Secured Debt (9) 5/11/202610.65%SF+6.75%2/7/20273,908 3,829 3,908 
53,364 53,611 
Clarius BIGS, LLC(10)Prints & Advertising Film Financing
Secured Debt (14) (17) (37) 9/23/20141/5/20152,627 2,627 4 
Computer Data Source, LLC(10)Third Party Maintenance Provider to the Data Center Ecosystem
Secured Debt3/6/202615.00%15.00%8/6/2026787 776 776 
Secured Debt (9) (14) (32) 8/6/202114.05%SF+10.25%14.05%8/6/20269,062 9,045 5,912 
Secured Debt (9) (14) 8/6/202114.05%SF+10.25%14.05%8/6/202622,091 22,066 14,412 
31,887 21,100 
Core Transformers(10)Refurbisher and Distributor of Electric Transformers
Secured Debt (9) (25) 9/24/2025SF+5.00%9/23/2031— (54)(54)
Secured Debt (9) (25) 9/24/2025SF+5.00%9/23/2031— (54)(54)
Secured Debt (9) 9/24/20258.66%SF+5.00%9/23/20316,269 6,161 6,269 
Common Equity9/24/2025626,923627 3,650 
6,680 9,811 
Coregistics Buyer LLC(10) (13) (21)Contract Packaging Service Provider
Secured Debt (9) 6/29/202410.16%SF+6.50%6/28/20291,669 1,616 1,655 
Secured Debt (9) 6/29/202410.16%SF+6.50%6/28/202910,516 10,363 10,409 
Secured Debt (9) 6/29/202410.41%SF+6.75%6/28/202931,629 31,156 30,389 
Secured Debt (9) 8/15/202410.15%SF+6.50%6/28/20297,011 6,924 6,938 
50,059 49,391 
CoreStack, Inc.(10)Multi-Cloud Governance Platform Provider
Secured Debt3/25/202610.00%10.00%9/25/20281,413 1,413 1,413 
Secured Debt (37) 3/25/20269/25/202813,089 13,089 13,089 
14,502 14,502 
CQ Fluency, LLC(10)Global Language Services Provider
Secured Debt (9) (25) 12/27/2023SF+6.50%6/27/2027— (19)(19)
Secured Debt (9) 12/27/202310.33%SF+6.50%6/27/20279,984 9,899 9,984 
9,880 9,965 


23
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
CRC Evans USA Bidco, Inc.(10) (13) (21)Manufacturers of Equipment, Including Drilling Rigs and Equipment, and Providers of Supplies and Services to Companies Involved in the Drilling, Evaluation and Completion of Oil and Gas Wells
Secured Debt (9) (25) 8/19/2022SF+6.75%6/30/2029— (139)— 
Secured Debt (9) (25) 12/31/2025SF+6.75%6/30/2029— (240)(240)
Secured Debt (9) 12/31/202510.74%SF+6.75%6/30/20299,296 9,140 9,296 
Secured Debt (9) 8/19/202210.71%SF+6.75%6/30/202914,564 14,284 14,564 
23,045 23,620 
Creative Foam Corporation(10)Manufacturer of Custom Engineered Die Cut, Formed Foam, Nonwoven, and Multi-material Component Solutions for the Automotive and Healthcare Markets
Secured Debt (9) (25) 6/27/2024SF+7.00%6/27/2029— (158)(158)
Secured Debt (9) 3/4/202510.67%SF+7.00%6/27/20295,528 5,445 5,528 
Secured Debt (9) 6/27/202410.73%SF+7.00%6/27/202988,607 87,528 88,607 
Common Equity3/4/202510,8511,085 600 
93,900 94,577 
Dalton US Inc.(10)Provider of Supplemental Labor Services
Common Stock8/16/2022515720 650 
Dynamic Communities, LLC(10)Developer of Business Events and Online Community Groups
Secured Debt (9) 12/20/202211.74%SF+8.00%11.74%12/31/20262,769 2,716 2,769 
Secured Debt (9) 12/20/202212.74%SF+9.00%12/31/20262,493 2,259 2,463 
Preferred Equity12/20/2022125,000128 110 
Preferred Equity12/20/20222,376,241— — 
Common Equity12/20/20221,250,000— — 
5,103 5,342 
Electro Technical Industries, LLC(10)Manufacturer of Mission-Critical Electrical Distribution Systems
Secured Debt (9) (25) 3/31/2025SF+5.50%3/31/2030— (131)(131)
Secured Debt (9) (26) 3/31/20259.14%SF+5.50%3/31/203049,517 48,782 49,517 
Common Equity3/31/20251,464,2861,464 3,960 
50,115 53,346 
Emerald Technologies Acquisition Co, Inc.(11)Design & Manufacturing
Secured Debt (9) 2/10/202210.13%SF+6.25%5.25%12/31/20299,497 9,422 7,456 
EnCap Energy Fund Investments(12) (13)Investment Partnership


24
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
LP Interests (EnCap Energy Capital Fund VIII, L.P.) (8) (30) 1/22/20150.14%2,560 77 
LP Interests (EnCap Energy Capital Fund IX, L.P.) (8) (30) 1/22/20150.10%3,149 729 
LP Interests (EnCap Energy Capital Fund X, L.P.) (8) (30) 3/25/20150.15%6,949 4,309 
LP Interests (EnCap Energy Capital Fund XII, L.P.) (8) (30) 8/31/20230.19%7,915 8,765 
LP Interests (EnCap Flatrock Midstream Fund II, L.P.) (30) 3/30/20150.84%3,799 15 
LP Interests (EnCap Flatrock Midstream Fund III, L.P.) (8) (30) 3/27/20150.25%3,300 1,119 
27,672 15,014 
Escalent, Inc.(10)Market Research and Consulting Firm
Secured Debt (9) (32) 4/7/20239.73%SF+6.00%4/7/2029424 406 424 
Secured Debt (9) 10/2/20249.73%SF+6.00%4/7/20291,333 1,319 1,333 
Secured Debt (9) 4/7/20239.73%SF+6.00%4/7/202925,120 24,763 25,120 
Common Equity4/7/2023649,794663 910 
27,151 27,787 
Event Holdco, LLC(10)Event and Learning Management Software for Healthcare Organizations and Systems
Secured Debt (9) 12/22/202110.99%SF+7.00%12/22/20263,692 3,689 3,692 
Secured Debt (9) 12/22/202110.99%SF+7.00%12/22/202647,758 47,715 47,758 
51,404 51,450 
EWMW LP(12) (13)Investment Partnership
Secured Debt12/23/20259.69%SF+6.00%3,016 3,016 3,016 
Fuse, LLC(11)Cable Networks Operator
Secured Debt6/30/20192.50%12/31/20281,810 1,810 272 
Common Stock6/30/201910,429256 — 
2,066 272 
Garyline, LLC(10)Manufacturer of Consumer Plastic Products
Secured Debt (9) (32) 4/14/202510.89%SF+7.25%10/14/20272,053 2,003 2,053 
Secured Debt (9) 4/14/202510.90%SF+7.25%10/14/202728,242 27,952 28,242 
Common Equity11/10/2023705,882706 450 
30,661 30,745 
GradeEight Corp.(10)Distributor of Maintenance and Repair Parts
Secured Debt (9) 10/4/202411.15%SF+7.50%10/4/2029150 85 150 
Secured Debt (9) 10/4/202411.37%SF+7.50%10/4/20294,150 4,076 4,132 
Secured Debt (9) (26) 10/4/202411.13%SF+7.50%10/4/202930,418 30,020 30,284 


25
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Common Equity10/4/20241,6531,634 1,090 
35,815 35,656 
GS HVAM Intermediate, LLC(10)Specialized Food Distributor
Secured Debt (9) 10/18/201910.24%SF+6.50%11/30/20263,394 3,386 3,394 
Secured Debt (9) 10/18/201910.24%SF+6.50%11/30/20269,800 9,779 9,800 
Secured Debt (9) 9/15/202310.24%SF+6.50%11/30/2026879 877 879 
Secured Debt (9) 12/22/202310.24%SF+6.50%11/30/2026210 210 210 
Secured Debt (9) 8/22/202410.24%SF+6.50%11/30/20265,670 5,657 5,670 
19,909 19,953 
GULF PACIFIC ACQUISITION, LLC(10)Rice Processor and Merchandiser
Secured Debt (9) (32) 9/30/202210.74%SF+7.00%9/30/2028353 345 319 
Secured Debt (9) 9/30/202210.75%SF+7.00%9/30/2028293 286 265 
Secured Debt (9) 9/30/202210.74%SF+7.00%9/30/20283,523 3,491 3,182 
4,122 3,766 
Harris Preston Fund Investments(12) (13)Investment Partnership
LP Interests (423 AER II, LP) (30) 6/2/20254.13%1,678 2,089 
LP Interests (HPEP 5, L.P.) (30) 6/10/202617.46%500 500 
2,178 2,589 
HDC/HW Intermediate Holdings(10)Managed Services and Hosting Provider
Secured Debt (9) (14) 3/7/20249.01%SF+3.50%2.50%8/21/20262,607 2,557 1,161 
Secured Debt (14) 3/7/20242.50%2.50%8/21/20261,583 671 — 
Common Equity3/7/202464,029— — 
3,228 1,161 
Hornblower Sub, LLC(10)Marine Tourism and Transportation
Secured Debt (9) 7/3/20249.17%SF+5.50%1.50%7/3/20291,920 1,890 1,920 
Secured Debt (9) 7/3/20249.18%SF+5.50%1.50%7/3/202933,052 32,841 33,052 
34,731 34,972 
Horwitz Holdings, LLC(10)Provider of Mechanical, Electrical and Plumbing Services
Secured Debt (9) (25) 6/30/2026SF+5.50%6/30/2031— (481)(481)
Secured Debt (9) (25) 6/30/2026SF+5.50%6/30/2031— (321)(321)
Secured Debt (9) 6/30/20269.23%SF+5.50%6/30/203181,471 79,868 79,868 
79,066 79,066 
HOWLCO LLC(11) (13) (21)Provider of Accounting and Business Development Software to Real Estate End Markets
Secured Debt (9) 8/19/202110.33%SF+6.50%3.50%10/23/202727,665 27,665 26,655 
Hybrid Promotions, LLC(10)Wholesaler of Licensed, Branded and Private Label Apparel


26
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt (9) 6/30/202111.94%SF+8.25%12/31/20277,200 7,136 7,200 
IG Parent Corporation(11)Software Engineering
Secured Debt (9) 7/30/20219.49%SF+5.75%7/30/2028153 147 153 
Secured Debt (9) 7/30/20219.49%SF+5.75%7/30/202810,075 10,028 10,075 
Secured Debt (9) 7/30/20219.49%SF+5.75%7/30/20284,828 4,803 4,828 
14,978 15,056 
Ignite Visibility LLC(10)Digital Marketing Services Agency
Secured Debt (9) 12/15/20258.69%SF+5.00%12/1/20284,759 4,701 4,757 
Secured Debt (9) 12/15/202510.69%SF+7.00%12/1/20284,759 4,701 4,756 
9,402 9,513 
Imaging Business Machines, L.L.C.(10)Technology Hardware & Equipment
Common Equity (8) 6/8/20238491,166 1,090 
Implus Footcare, LLC(10)Provider of Footwear and Related Accessories
Secured Debt (9) 6/13/20259.74%SF+6.00%4.00%10/30/20281,983 1,983 1,983 
Secured Debt (9) 7/31/20259.74%SF+6.00%9.74%10/30/20284,644 4,644 4,644 
Common Equity7/31/20254,238,9175,680 5,690 
12,307 12,317 
Insight Borrower Corporation(10)Test, Inspection, and Certification Instrument Provider
Secured Debt (9) (32) 7/19/20239.95%SF+6.25%7/19/2028617 586 561 
Secured Debt (9) 7/19/20239.92%SF+6.25%7/19/202914,061 13,845 12,788 
Common Equity7/19/2023131,100656 40 
15,087 13,389 
Inspire Aesthetics Management, LLC(10)Surgical and Non-Surgical Plastic Surgery and Aesthetics Provider
Secured Debt (9) 4/3/202313.22%SF+9.50%1.50%4/3/2028864 856 818 
Secured Debt (9) 4/3/202313.22%SF+9.50%1.50%4/3/20287,303 7,239 6,904 
Secured Debt (9) 6/14/202313.22%SF+9.50%1.50%4/3/20282,938 2,914 2,776 
Secured Debt (9) 12/31/202413.22%SF+9.50%1.50%4/3/2028339 339 320 
Common Equity4/3/2023177,594463 97 
11,811 10,915 
Interface Security Systems, L.L.C(10)Commercial Security & Alarm Services
Secured Debt (17) (32) 12/9/202113.77%SF+10.00%13.77%8/7/20232,561 2,561 2,333 
Secured Debt (9) (14) (17) 8/7/201910.74%SF+7.00%10.74%8/7/20237,313 7,237 19 
Common Stock12/7/20212,143— — 
9,798 2,352 
Invincible Boat Company, LLC.(10)Manufacturer of Sport Fishing Boats


27
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt (9) 8/28/201911.29%SF+7.50%3/31/2029934 928 738 
Secured Debt (9) (26) 8/28/201911.29%SF+7.50%11.29%3/31/202917,458 17,425 13,285 
18,353 14,023 
Isagenix International, LLC(11)Direct Marketer of Health & Wellness Products
Secured Debt (9) (14) 4/13/202312.27%SF+8.50%9.77%4/14/20283,159 2,991 458 
Common Equity4/13/2023198,743— — 
2,991 458 
Island Pump and Tank, LLC(10)Provider of Facility and Maintenance Services to Fuel Retailers in Northeast U.S.
Secured Debt (9) 5/20/202410.95%SF+7.00%10.95%5/17/2029482 478 395 
Secured Debt (9) 5/20/202410.95%SF+7.00%10.95%5/17/20292,222 2,199 1,824 
Secured Debt (9) 5/20/202410.95%SF+7.00%10.95%5/17/20292,228 2,205 1,828 
Secured Debt (9) 5/20/202410.95%SF+7.00%10.95%5/17/20292,233 2,210 1,832 
7,092 5,879 
Jackmont Hospitality, Inc.(10)Franchisee of Casual Dining Restaurants
Secured Debt (9) (26) 10/26/202211.31%SF+7.50%11/4/2026729 727 729 
Secured Debt (9) (26) 2/27/202411.32%SF+7.50%11/4/2026625 624 625 
Secured Debt (9) (26) 11/1/202411.32%SF+7.50%11/4/2026667 663 667 
Secured Debt (9) 11/8/202111.32%SF+7.50%11/4/20261,685 1,682 1,685 
Preferred Equity11/8/20212,826,667110 650 
3,806 4,356 
Joerns Healthcare, LLC(11)Manufacturer and Distributor of Health Care Equipment & Supplies
Secured Debt (9) 3/30/202411.76%SF+8.00%3/29/20291,833 1,833 1,833 
Secured Debt (9) 3/30/202411.76%SF+8.00%3/29/20291,369 1,369 1,369 
Common Stock3/29/20245,461,019200 280 
3,402 3,482 
LBCT Topco LPProvider of IT Hardware Services and Software Solutions
Common Equity6/22/20264,000,0004,000 4,000 
LKCM Headwater Investments(12) (13)Investment Partnership
LP Interests (LKCM Headwater Investments I, L.P.) (30) 1/25/20132.27%— 265 
LP Interests (LKCM Headwater CV I Minerals, L.P.) (30) 3/27/20261.82%618 618 
618 883 
LLFlex, LLC(10)Provider of Metal-Based Laminates


28
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt (9) 8/16/202111.84%SF+8.00%3.00%12/31/20294,268 4,190 3,578 
Logix Acquisition Company, LLC(10)Competitive Local Exchange Carrier
Secured Debt (9) 4/11/202510.67%SF+7.00%1.25%12/31/202844,477 43,911 44,477 
Secured Debt4/11/202512/31/20282,963 2,400 2,316 
46,311 46,793 
Looking Glass Investments, LLC(12) (13)Specialty Consumer Finance
Member Units7/1/20153125 25 
MCT Purchaserco Holding Inc.(10) (13) (21)Manufacturer and Distributor of High-Voltage Disconnect Switches
Secured Debt (9) (32) 12/1/20259.23%SF+5.50%12/2/203010,084 9,983 10,084 
Secured Debt (9) 12/1/20259.23%SF+5.50%12/2/203039,557 39,205 39,557 
Common Equity12/1/20251,590,2871,139 1,239 
50,327 50,880 
Microbe Formulas, LLC(10)Nutritional Supplements Provider
Secured Debt (9) (25) 4/4/2022SF+5.50%4/3/2028— (21)(21)
Secured Debt (9) 11/20/20249.24%SF+5.50%4/3/202810,967 10,888 10,967 
Secured Debt (9) 4/4/20229.24%SF+5.50%4/3/202811,365 11,297 11,365 
22,164 22,311 
Mini Melts of America, LLC(10)Manufacturer and Distributor of Branded Premium Beaded Ice Cream
Secured Debt (9) (32) 11/30/20239.92%SF+6.25%11/30/20281,724 1,703 1,555 
Secured Debt (9) (26) 11/30/20239.91%SF+6.25%11/30/20281,295 1,279 1,168 
Secured Debt (9) 11/30/20238.92%SF+5.25%11/30/20284,567 4,513 4,120 
Secured Debt (9) 11/30/202310.92%SF+7.25%11/30/20284,567 4,511 4,121 
Common Equity11/30/2023524,888525 140 
12,531 11,104 
Mission Critical Group(10)Backup Power Generation
Secured Debt (9) (25) 4/1/2026SF+5.25%10/1/2030— (81)(81)
Secured Debt (9) (25) 4/1/2026SF+5.25%10/1/2030— (234)(234)
Secured Debt (9) 4/1/20268.93%SF+5.25%10/1/2030111,846 110,361 111,846 
Common Equity6/7/20231,2341,234 41,670 
111,280 153,201 
MonitorUS Holding, LLC(10) (13) (21)SaaS Provider of Media Intelligence Services
Secured Debt5/24/20229.00%6.00%5/30/20294,164 4,150 4,358 
Secured Debt5/24/20229.00%6.00%5/30/202910,771 10,733 12,173 
Secured Debt5/24/20229.00%6.00%5/30/202918,164 18,104 18,164 
Secured Debt6/25/20259.00%6.00%5/30/20291,241 1,230 1,219 
Common Stock8/30/2022111,058,2461,221 461 


29
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
35,438 36,375 
Obra Capital, Inc.(10)Provider of Asset Management Services Specialized in Insurance-Linked Strategies
Secured Debt (9) (25) 6/21/2024SF+7.50%12/21/2028— (4)(4)
Secured Debt (9) 6/21/202411.25%SF+7.50%0.50%6/21/202925,978 25,271 25,978 
Secured Debt (9) 5/13/202511.25%SF+7.50%0.50%6/21/20293,142 3,044 3,142 
28,311 29,116 
OnPoint Industrial Services, LLC(10)Environmental & Facilities Services
Secured Debt (9) 12/18/20249.73%SF+6.00%11/16/20271,348 1,340 1,348 
Secured Debt (9) 4/1/20249.73%SF+6.00%11/16/20273,746 3,727 3,746 
5,067 5,094 
Ospemifene Royalty Sub LLC(10)Estrogen-Deficiency Drug Manufacturer and Distributor
Secured Debt (14) (37) 7/8/201311/15/20264,322 4,322 15 
PavCon LLC(10)Provider of Predictive Data Analytics to the Department of Defense
Secured Debt (9) (25) 1/2/2026SF+5.50%1/2/2031— (28)(28)
Secured Debt (9) (25) 1/2/2026SF+5.50%1/2/2031— (28)(28)
Secured Debt (9) 1/2/20269.49%SF+5.50%1/2/203110,823 10,628 10,715 
10,572 10,659 
Peaches Holding CorporationWholesale Provider of Consumer Packaging Solutions
Common Equity5/22/20243,2267,221 — 
PrimeFlight Aviation Services(10) (13)Air Freight & Logistics
Secured Debt (9) 5/1/20239.16%SF+5.50%5/1/20297,760 7,623 7,760 
Secured Debt (9) 9/7/20239.23%SF+5.50%5/1/2029741 727 741 
Secured Debt (9) 1/30/20249.23%SF+5.50%5/1/2029745 734 745 
Secured Debt (9) 6/28/20248.98%SF+5.25%5/1/2029846 839 846 
Secured Debt (9) 1/21/20258.92%SF+5.25%5/1/20291,876 1,864 1,876 
Secured Debt (9) 7/31/20258.91%SF+5.25%5/1/20292,011 1,996 2,011 
Secured Debt (9) 11/21/20258.39%SF+4.75%5/1/20292,117 2,100 2,117 
Secured Debt (9) 2/4/20268.41%SF+4.75%5/1/202911,544 11,444 11,544 
27,327 27,640 
Pro-Max Restoration & Paint, LLC(10)Specialty Trade Contractors for the Construction Sector
Secured Debt (9) (25) 4/24/2026SF+5.75%4/24/2031— (34)(34)
Secured Debt (9) 4/24/20269.42%SF+5.75%4/24/203120,389 20,192 20,192 
Common Equity4/24/20261,202,3811,202 1,202 
21,360 21,360 
Richardson Sales Solutions(10)Business Services


30
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt (9) (25) 8/24/2023SF+5.00%8/24/2028— (44)— 
Secured Debt (9) 8/24/20238.67%SF+5.00%8/24/202831,806 31,332 31,806 
Secured Debt (9) 9/10/20248.67%SF+5.00%8/24/202820,664 20,437 20,664 
51,725 52,470 
Roof Opco, LLC(10)Residential Re-Roofing/Repair
Secured Debt (25) 8/27/20218/31/2029— (2)— 
Secured Debt8/27/202110.00%10.00%8/31/20293,765 3,751 2,836 
Secured Debt8/27/202110.00%10.00%8/31/20293,802 3,788 2,751 
7,537 5,587 
Royal Cup Inc.(10)Coffee Roaster and Beverage Solutions Provider
Preferred Equity11/26/20255,992,3095,992 5,992 
Rug Doctor, LLC.(10)Carpet Cleaning Products and Machinery
Secured Debt (9) 7/16/20219.23%SF+5.50%5/16/20282,821 2,820 2,821 
Secured Debt (9) 7/16/20219.23%SF+5.50%5/16/20286,623 6,551 6,623 
9,371 9,444 
South Coast Terminals Holdings, LLC(10)Specialty Toll Chemical Manufacturer
Secured Debt (9) (25) 8/8/2024SF+5.00%8/8/2029— — — 
Secured Debt (9) 8/8/20248.74%SF+5.00%8/8/202951,553 51,303 51,553 
Secured Debt (9) 7/31/20258.74%SF+5.00%8/8/202910,423 10,344 10,423 
Common Equity12/10/2021864864 1,188 
62,511 63,164 
SPAU Holdings, LLC(10)Digital Photo Product Provider
Secured Debt (9) (32) 7/1/202210.86%SF+7.00%7/2/20292,108 2,074 2,108 
Secured Debt (9) 7/1/202210.88%SF+7.00%7/2/202915,329 15,166 15,329 
Common Stock7/1/2022638,710639 630 
17,879 18,067 
TEC Services, LLC(10)Provider of Janitorial Service for Food Retailers
Secured Debt (9) (25) 12/31/2024SF+5.50%12/31/2029— (66)(66)
Secured Debt (9) (25) 12/31/2024SF+5.50%12/31/2029— (50)(50)
Secured Debt (9) 12/31/20249.33%SF+5.50%12/31/202931,848 31,519 31,848 
31,403 31,732 
Tectonic Financial, LLCFinancial Services Organization
Common Stock (8) 5/15/2017200,0002,000 4,400 
Tex Tech Tennis, LLC(10)Sporting Goods & Textiles
Preferred Equity (8) (29) 7/7/20211,000,0001,000 3,100 


31
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Titan Meter Midco Corp.(10)Value Added Distributor of a Variety of Metering and Measurement Products and Solutions to the Energy Industry
Secured Debt (9) 3/11/202410.23%SF+6.50%3/11/20293,562 3,495 3,562 
Secured Debt (9) 3/11/202410.23%SF+6.50%3/11/202933,414 32,783 33,414 
Secured Debt (9) 2/27/202510.23%SF+6.50%3/11/20294,276 4,206 4,276 
Secured Debt (9) 8/5/202510.23%SF+6.50%3/11/20294,839 4,748 4,839 
Preferred Equity3/11/20241,358,8928.00%8.00%1,375 1,830 
46,607 47,921 
U.S. TelePacific Corp.(11)Provider of Communications and Managed Services
Secured Debt (9) (17) 3/18/202614.70%SF+11.00%10.00%5/2/2026711 678 678 
Secured Debt (9) (14) 6/1/202313.75%P+7.00%7.00%5/2/20279,811 2,612 1,940 
Secured Debt (14) 6/1/20235/2/20271,003 20 — 
3,310 2,618 
UBM AcquireCo LLCMail Commingling and Logistics Provider
Secured Debt (25) 12/20/202512/20/2027— (29)(29)
Secured Debt12/20/202510.00%12/20/203015,600 15,467 15,467 
Secured Debt12/20/202510.00%12/20/203042,800 42,421 42,421 
Common Equity (8) 12/20/2025808,000 7,870 
65,859 65,729 
UPS Intermediate, LLC(10)Provider of Maintenance, Repair, and Overhaul Services for Industrial Equipment Serving the Refining, Chemical, Midstream, Renewables, Power, and Utilities End Markets
Secured Debt (9) 3/10/202610.16%SF+6.50%7/29/202913,101 12,859 13,101 
Secured Debt (9) 3/10/202610.16%SF+6.50%7/29/20293,532 3,459 3,532 
Secured Debt (9) 7/29/202410.23%SF+6.50%7/29/202942,686 42,167 42,686 
Common Equity7/29/20241,5211,521 1,630 
60,006 60,949 
UserZoom Technologies, Inc.(10)Provider of User Experience Research Automation Software
Secured Debt (9) 1/7/202611.42%SF+7.75%1.75%4/5/2029325 319 277 
Secured Debt (9) 1/11/202311.40%SF+7.75%1.75%4/5/20294,034 3,973 3,439 
4,292 3,716 
Vitesse Systems(10)Component Manufacturing and Machining Platform
Secured Debt (32) 12/22/202310.99%SF+7.00%12/22/20287,727 7,620 7,727 
Secured Debt (9) 3/4/202610.99%SF+7.00%12/22/20283,873 3,788 3,873 
Secured Debt (9) 12/22/202310.99%SF+7.00%12/22/202841,438 40,925 41,437 
52,333 53,037 


32
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
VORTEQ Coil Finishers, LLC(10)Specialty Coating of Aluminum and Light-Gauge Steel
Common Equity (8) 11/30/20211,038,4621,038 4,030 
Wash & Wax Systems LLC(10)Express Car Wash Operator
Secured Debt (9) (32) 4/30/20259.20%SF+5.50%4/30/2028322 322 322 
Secured Debt (9) 4/30/20259.16%SF+5.50%9.16%4/30/20287,975 7,975 7,975 
Secured Debt4/30/202512.00%12.00%7/31/20285,556 5,556 5,556 
Common Equity4/30/20253,2193,410 330 
17,263 14,183 
Watterson Brands, LLC(10)Facility Management Services
Secured Debt (25) 6/30/20266/30/2029— — — 
Secured Debt6/30/20266.00%6.00%6/30/202913,274 13,274 13,274 
Common Shares6/30/20268,447— — 
Preferred Stock6/30/20268,44712.00%12.00%4,840 4,840 
18,114 18,114 
Winter Services LLC(10)Provider of Snow Removal and Ice Management Services
Secured Debt (9) (25) (32) 11/19/2021SF+8.00%11/19/2027— (49)— 
Secured Debt (9) 11/19/202111.95%SF+8.00%11/19/20271,874 1,867 1,874 
Secured Debt (9) 1/16/202410.95%SF+7.00%11/19/20277,240 7,199 7,240 
Secured Debt (9) 1/16/202412.95%SF+9.00%11/19/20277,240 7,199 7,240 
16,216 16,354 
Xenon Arc, Inc.(10)Tech-enabled Distribution Services to Chemicals and Food Ingredients Primary Producers
Secured Debt (9) 12/17/20219.80%SF+6.00%12/20/202823,450 23,286 23,450 
Secured Debt (9) 12/17/20219.77%SF+6.00%12/20/202836,863 36,629 36,863 
Secured Debt (9) 3/31/20259.83%SF+6.00%12/20/202810,499 10,361 10,499 
70,276 70,812 
YS Garments, LLC(11)Designer and Provider of Branded Activewear
Secured Debt (9) (26) 8/22/201811.24%SF+7.50%8/9/202710,592 10,534 9,312 
ZRG Partners, LLC(10)Talent Advisory Services Provider
Secured Debt (9) 6/14/202411.75%P+5.00%6/14/20297,643 7,520 7,643 
Secured Debt (9) (26) 6/14/20249.73%SF+6.00%6/14/202915,879 15,650 15,879 
Secured Debt (9) 6/14/20249.85%SF+6.00%6/14/20296,469 6,390 6,469 
Secured Debt (9) (26) 4/24/20269.68%SF+6.00%6/14/20297,519 7,368 7,519 
Secured Debt (9) 6/14/20249.70%SF+6.00%6/14/202946,252 45,685 46,252 
82,613 83,762 
Subtotal Non-Control/Non-Affiliate investments (68.0% of net assets at fair value)
$2,167,359 $2,153,102 


33
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Total Portfolio Company investments, June 30, 2026 (181.5% of net assets at fair value)
$4,974,649 $5,746,044 
Money market funds (included in cash and cash equivalents)
Dreyfus Government Cash Management (35)$2,278 $2,278 
Fidelity Government Fund (36)254 254 
Fidelity Treasury (31)1,260 1,260 
Total money market funds$3,792 $3,792 
___________________________
(1)All investments are LMM (as defined below) portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of LMM portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Corporate Facility or SPV Facility (each as defined below) or in support of the debentures guaranteed by the SBA (as defined below) and issued by the Funds (as defined below).
(2)Debt investments are income producing, unless otherwise noted by footnote (14) or (37), as described below. Equity and warrants are non-income producing, unless otherwise noted by footnote (8), as described below.
(3)See Note C — Fair Value Hierarchy for Investments — Portfolio Composition and Schedule 12-14 for a summary of geographic location of portfolio companies.
(4)Principal is net of repayments. Cost is net of repayments and accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
(5)“Control” investments are defined by the 1940 Act as investments in which more than 25% of the voting securities are owned or where the ability to nominate greater than 50% of the board representation is maintained.
(6)“Affiliate” investments are defined by the 1940 Act as investments in which between 5% and 25% (inclusive) of the voting securities are owned and the investments are not classified as Control investments.
(7)“Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.
(8)Income producing through dividends or distributions.
(9)Index based floating interest rate is subject to contractual minimum interest rate. As noted in this schedule, 96% of the loans (based on the par amount) contain Term Secured Overnight Financing Rate (“SOFR”) floors which range between 0.50% and 5.25%, with a weighted-average floor of 1.28%.
(10)Private Loan (as defined below) portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Private Loan portfolio investments.
(11)Middle Market (as defined below) portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Middle Market portfolio investments.
(12)Other Portfolio (as defined below) investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Other Portfolio investments.


34
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
(13)Investment is not a qualifying asset as defined under Section 55(a) of the 1940 Act (as defined below). Qualifying assets must represent at least 70% of total assets at the time of acquisition of any additional non-qualifying assets.
(14)Debt investment currently on non-accrual status.
(15)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.”
(16)External Investment Manager (as defined below). Investment is not encumbered as security for the Credit Facilities (as defined below) or in support of the SBA-guaranteed debentures issued by the Funds.
(17)Maturity date is under on-going negotiations with the portfolio company and other lenders, if applicable.
(18)Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments —Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
(19)Investments may have a portion, or all, of their income received from Payment-in-Kind (“PIK”) interest or dividends. PIK interest income and cumulative dividend income represent income not paid currently in cash. The difference between the Total Rate and PIK Rate represents the cash rate as of June 30, 2026.
(20)All portfolio company headquarters are based in the U.S., unless otherwise noted.
(21)Portfolio company headquarters are located outside of the U.S.
(22)The Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of SOFR+7.50% (Floor 1.50%) per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate.
(23)The Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of 11.80% per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate.
(24)Investment Date represents the date of initial investment in the security position.
(25)The position is unfunded and no interest income is being earned as of June 30, 2026. The position may earn a nominal unused facility fee on committed amounts.
(26)Each new draw or funding on the facility has a different floating rate reset date. The rate presented represents a weighted-average rate for borrowings under the facility, as of June 30, 2026.
(27)Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit.
(28)A majority of the variable rate loans in the Investment Portfolio (as defined below) bear interest at a rate that may be determined by reference to either SOFR (“SF”) or an alternate base rate (commonly based on the federal funds rate or the Prime rate (“P”)), which typically resets every one, three, or six months at the borrower’s option. SOFR based contracts may include a credit spread adjustment (the “Adjustment”) that is charged in addition to the stated spread. The Adjustment is applied when the SOFR, plus the Adjustment, exceeds the stated floor rate, as applicable. As of June 30, 2026, SOFR based contracts in the portfolio had Adjustments ranging from 0.10% to 0.26%.
(29)Shares/Units represent ownership in a related real estate or holding entity.
(30)Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated.
(31)Effective yield as of June 30, 2026 was approximately 3.32% on the Fidelity Treasury.
(32)Revolving line of credit facility permits the borrower to make an interest rate election regarding the base rate on each draw under the facility. The rate presented represents a weighted-average rate for borrowings under the facility, as of June 30, 2026.


35
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
(33)Index based floating interest rate is subject to contractual maximum base rate of 3.00%.
(34)Index based floating interest rate is subject to contractual maximum base rate of 4.00%.
(35)Effective yield as of June 30, 2026 was approximately 3.52% on the Dreyfus Government Cash Management.
(36)Effective yield as of June 30, 2026 was approximately 3.29% on the Fidelity Government Fund.
(37)Non-income producing debt investment.


36
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Control Investments (5)
American Nuts, LLC(10)Roaster, Mixer and Packager of Bulk Nuts and Seeds
Secured Debt(9)3/25/202512.64%SF+8.50%12.64%3/28/2028$8,161 $8,161 $8,161 
Secured Debt(9)3/25/202512.64%SF+8.50%12.64%3/28/20288,161 8,161 6,582 
Preferred Equity3/25/202526,6388,970 4,250 
25,292 18,993 
Analytical Systems Keco Holdings, LLCManufacturer of Liquid and Gas Analyzers
Secured Debt8/16/201913.75%8/16/20293,895 3,860 3,860 
Preferred Member Units5/20/20212,4112,387 6,030 
Preferred Member Units8/16/20193,1083,200 120 
Warrants(27)8/16/20194208/16/2029316 — 
9,763 10,010 
ASC Interests, LLCRecreational and Educational Shooting Facility
Secured Debt(17)12/31/201913.00%7/31/2024400 400 400 
Secured Debt(17)8/1/201313.00%7/31/20241,533 1,533 1,502 
Preferred Member Units6/28/2023178178 — 
Member Units8/1/20131,5001,500 — 
3,611 1,902 
Batjer TopCo, LLCHVAC Mechanical Contractor
Secured Debt(25)3/7/20223/7/2027— (2)— 
Secured Debt(25)3/7/20223/7/2027— — — 
Secured Debt3/7/202210.00%3/7/20279,945 9,921 9,945 
Preferred Stock(8)3/7/20224,0734,095 8,750 
14,014 18,695 
BDB Holdings, LLCCasual Restaurant Group
Secured Debt2/24/202512.00%2/27/20271,773 1,773 1,773 
Preferred Equity11/4/202418,756,99519,537 12,640 
21,310 14,413 
Bettercloud, Inc.(10)SaaS Provider of Workflow Management and Business Application Solutions
Secured Debt(9) (32)11/10/202512.07%SF+8.25%12.07%6/30/20286,017 6,017 6,017 
Common Equity11/10/20256916,890 15,690 
22,907 21,707 
Bolder Panther Group, LLCConsumer Goods and Fuel Retailer
Secured Debt(9) (22)12/31/202011.10%SF+7.22%10/31/2027101,046 100,803 101,046 
Class B Preferred Member Units(8)12/31/2020140,0008.00%14,000 31,190 
114,803 132,236 
Brewer Crane Holdings, LLCProvider of Crane Rental and Operating Services
Secured Debt(9)1/9/201813.98%SF+10.00%12/31/20265,016 5,016 5,016 
Preferred Member Units(8)1/9/20182,9504,280 3,460 


37
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Preferred Member Units(8)7/7/202531215.00%15.00%336 336 
9,632 8,812 
Bridge Capital Solutions CorporationFinancial Services and Cash Flow Solutions Provider
Preferred Member Units(29)7/25/201617,7421,000 — 
Warrants(27)7/25/2016827/25/20262,132 — 
3,132 — 
California Splendor Holdings LLCProcessor of Frozen Fruits
Secured Debt(25)3/15/20248/28/2028— (11)(11)
Secured Debt3/30/201814.00%8/28/202825,800 25,776 25,638 
Preferred Member Units(8)7/31/20198,67115.00%15.00%12,569 12,569 
Preferred Member Units(8)3/30/20188,72916,402 12,801 
54,736 50,997 
CBT Nuggets, LLCProduces and Sells IT Training Certification Videos
Member Units(8)6/1/20064161,300 47,930 
Centre Technologies Holdings, LLCProvider of IT Hardware Services and Software Solutions
Secured Debt(9) (25)1/4/2019SF+8.00%1/4/2028— — — 
Secured Debt(9)11/29/202411.98%SF+8.00%1/4/202824,085 24,058 24,085 
Preferred Member Units1/4/201913,8836,386 42,710 
30,444 66,795 
Chamberlin Holding LLCRoofing and Waterproofing Specialty Contractor
Secured Debt(9) (25)2/26/2018SF+6.00%2/26/2029— (39)— 
Secured Debt(9)2/26/201811.99%SF+8.00%2/26/202942,020 41,781 42,020 
Member Units(8)2/26/20184,34711,440 35,530 
Member Units(8) (29)11/2/20181,047,1461,773 4,170 
54,955 81,720 
Charps, LLCPipeline Maintenance and Construction
Unsecured Debt8/26/202014.00%1/31/20305,694 5,267 5,694 
Preferred Member Units(8)2/3/20171,8291,963 16,020 
7,230 21,714 
Clad-Rex Steel, LLCSpecialty Manufacturer of Vinyl-Clad Metal
Secured Debt(25)10/28/20227/31/2027— — — 
Secured Debt12/20/201610.00%7/31/20309,480 9,405 9,480 
Secured Debt12/20/201610.00%12/20/2036929 922 929 
Member Units(8)12/20/20167177,280 14,120 
Member Units(29)12/20/2016800509 1,270 
18,116 25,799 
Cody Pools, Inc.Designer of Residential and Commercial Pools


38
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt(25)3/6/202012/3/2030— (82)— 
Secured Debt3/6/202012.50%12/3/203034,901 34,336 34,901 
Preferred Member Units(8) (29)3/6/20205878,317 65,060 
42,571 99,961 
Colonial Electric Company LLCProvider of Electrical Contracting Services
Secured Debt(25)3/31/20213/31/2028— — — 
Secured Debt3/31/20219.00%3/31/20288,779 8,773 8,779 
Preferred Member Units(8)3/31/202117,2807,680 16,830 
16,453 25,609 
CompareNetworks Topco, LLCInternet Publishing and Web Search Portals
Secured Debt1/29/201912.98%1/29/20284,037 4,031 4,031 
Preferred Member Units1/29/20192,2503,520 7,650 
7,551 11,681 
Compass Systems & Sales, LLCDesigner of End-to-End Material Handling Solutions
Secured Debt(25)11/22/202311/22/2028— (15)(15)
Secured Debt11/22/202313.50%11/22/202817,200 17,100 16,961 
Preferred Equity11/22/20237,4547,454 7,180 
24,539 24,126 
Copper Trail Fund Investments(12) (13)Investment Partnership
LP Interests (CTMH, LP)(30)7/17/201738.75%390 390 
Cybermedia Technologies, LLCIT and Digital Services Provider
Secured Debt(25)5/5/20235/5/2028— — — 
Secured Debt5/5/202313.00%5/5/202827,210 27,082 27,076 
Preferred Member Units5/5/202355615,000 — 
Preferred Equity4/1/20252,400,0002,400 6,340 
44,482 33,416 
Datacom, LLCTechnology and Telecommunications Provider
Secured Debt3/1/20227.50%12/31/2025675 675 675 
Secured Debt3/31/202110.00%12/31/20257,812 7,812 4,169 
Preferred Member Units3/31/20219,3602,970 — 
11,457 4,844 
Digital Products Holdings LLCDesigner and Distributor of Consumer Electronics
Secured Debt(9)4/1/201813.88%SF+10.00%4/27/202611,957 11,943 11,338 
Preferred Member Units(8)4/1/20183,8579,501 9,835 
21,444 21,173 
Direct Marketing Solutions, Inc.Provider of Omni-Channel Direct Marketing Services
Secured Debt2/13/201814.00%2/13/20261,785 1,783 1,785 
Secured Debt12/27/202214.00%2/13/202623,082 23,079 23,082 
Preferred Stock2/13/20188,4008,400 19,760 


39
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
33,262 44,627 
Doral Holdings, LLCMachinery Moving, Rigging and Millwrighting Provider
Secured Debt(25)5/20/20255/20/2030— — — 
Secured Debt5/20/202513.00%5/20/203026,500 26,270 26,270 
Preferred Equity5/20/202513,00013,000 15,740 
39,270 42,010 
Elgin AcquireCo, LLCManufacturer and Distributor of Engine and Chassis Components
Secured Debt(9) (25)10/3/2022SF+6.00%10/3/2027— (3)(3)
Secured Debt10/3/202212.00%10/3/202716,778 16,719 16,719 
Secured Debt10/3/20229.00%10/3/20526,212 6,156 6,156 
Common Stock10/3/20222855,726 5,050 
Common Stock(29)10/3/20229391,558 3,270 
30,156 31,192 
Flame King Holdings, LLCPropane Tank and Accessories Distributor
Secured Debt(25)6/30/20256/30/2030— — — 
Secured Debt6/30/202512.00%6/30/203066,000 65,415 66,000 
Preferred Equity(8)10/29/20219,36010,400 54,630 
75,815 120,630 
Gamber-Johnson Holdings, LLCManufacturer of Ruggedized Computer Mounting Systems
Secured Debt(9) (25) (34)6/24/2016SF+7.50%1/1/2028— — — 
Secured Debt(9) (34)11/22/202411.38%SF+7.50%1/1/202870,526 70,436 70,526 
Member Units(8)6/24/20169,04217,692 113,810 
Common Equity(29)12/15/2025532396 396 
88,524 184,732 
Garreco, LLCManufacturer and Supplier of Dental Products
Member Units7/15/20131,2001,200 1,830 
GRT Rubber Technologies LLCManufacturer of Engineered Rubber Products
Secured Debt12/21/20189.98%SF+6.00%10/29/20263,146 3,143 3,146 
Secured Debt12/19/201411.98%SF+8.00%10/29/202640,493 40,452 40,493 
Member Units(8)12/19/20145,87913,065 46,360 
56,660 89,999 
Harris Preston Fund Investments(12) (13)Investment Partnership
LP Interests (2717 MH, L.P.)(30)10/1/201749.26%1,158 1,795 
LP Interests (2717 HPP-MS, L.P.)(30)3/11/202249.26%256 447 
LP Interests (2717 GRE-LP, L.P.)(30)4/18/202443.05%441 441 


40
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
LP Interests (423 COR, L.P.)(30)6/2/202226.89%2,900 5,244 
4,755 7,927 
Harrison Hydra-Gen, Ltd.Manufacturer of Hydraulic Generators
Common Stock(8)6/4/2010107,456718 7,080 
IG Investor, LLCMilitary and Other Tactical Gear
Secured Debt6/21/202313.00%6/21/20281,600 1,580 1,600 
Secured Debt6/21/202313.00%6/21/202835,064 34,890 35,064 
Common Equity6/21/202314,40014,400 28,030 
50,870 64,694 
Jensen Jewelers of Idaho, LLCRetail Jewelry Store
Secured Debt(9) (25)8/29/2017P+6.75%11/14/2026— — — 
Secured Debt(9)11/14/200613.75%P+6.75%11/14/2026878 878 878 
Member Units(8)11/14/2006627811 11,540 
1,689 12,418 
JorVet Holdings, LLCSupplier and Distributor of Veterinary Equipment and Supplies
Secured Debt3/28/202212.00%3/28/202723,321 23,263 23,263 
Preferred Equity(8)3/28/2022109,92610,993 10,990 
34,256 34,253 
JTI Electrical & Mechanical, LLC(10)Electrical, Mechanical and Automation Services
Secured Debt(9)8/25/20259.13%SF+5.00%6/20/20306,316 6,316 6,316 
Secured Debt(9)8/25/202510.13%SF+6.00%10.13%6/20/203036,513 36,513 36,429 
Secured Debt(14)8/25/202515.00%15.00%6/20/203016,842 6,205 939 
Common Equity12/22/20211,684,2111,684 — 
Common Equity8/25/2025842,000842 — 
51,560 43,684 
KBK Industries, LLCManufacturer of Specialty Oilfield and Industrial Products
Secured Debt2/24/20239.50%2/24/20287,200 7,166 7,200 
Member Units(8)1/23/2006325783 18,180 
7,949 25,380 
Kickhaefer Manufacturing Company, LLCPrecision Metal Parts Manufacturing
Secured Debt10/31/201811.50%10/31/202610,199 10,195 10,195 
Secured Debt10/31/20189.00%10/31/20483,910 3,878 3,878 
Preferred Equity(8)10/31/201858112,240 17,180 
Member Units(8) (29)10/31/2018800992 4,190 
27,305 35,443 
Legacy Swim GroupSwim Lessons Provider
Secured Debt11/7/202513.00%11/7/203032,000 31,691 31,691 
Preferred Equity(8)11/7/202536614,996 14,996 
46,687 46,687 


41
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Metalforming Holdings, LLCDistributor of Sheet Metal Folding and Metal Forming Equipment
Secured Debt(17) (25)10/19/202210/19/2025— — — 
Secured Debt10/19/20228.75%10/19/202717,237 17,175 17,237 
Preferred Equity(8)10/19/20225,915,5858.00%8.00%5,916 5,916 
Common Stock(8)10/19/20221,537,2191,537 9,770 
24,628 32,923 
Moffitt Holdings, LLCBulk Fuel and Lubricants Distributor
Secured Debt3/19/202513.00%3/19/203034,125 33,840 33,840 
Preferred Equity3/19/202514,30014,300 15,560 
48,140 49,400 
MS Private Loan Fund I, LP(12) (13)Investment Partnership
Secured Debt(9)1/26/20216.88%SF+3.00%3/24/202612,000 12,000 12,000 
LP Interests(8) (30)1/26/202114.51%15,000 14,697 
27,000 26,697 
MS Private Loan Fund II, LP(12) (13)Investment Partnership
Secured Debt(9) (25)9/5/2023SF+3.00%3/5/2029— (84)(84)
LP Interests(8) (30)9/5/202312.46%10,500 11,064 
10,416 10,980 
MSC Adviser I, LLC(16)Third Party Investment Advisory Services
Member Units(8)11/22/2013100%29,500 255,020 
MSC Income Fund, Inc.(12) (13)Business Development Company
Common Equity(8)5/2/20221,642,63525,082 21,412 
MVI MSO, LLCVascular Practice Specializing in Comprehensive Vein and Artery Diagnosis and Treatment
Secured Debt3/28/202513.00%3/28/20309,850 9,768 9,768 
Preferred Equity(8)3/28/20252702,700 4,770 
12,468 14,538 
NAPCO Precast, LLCPrecast Concrete Manufacturing
Member Units(8)1/31/20082,9554,145 14,480 
Member Units(29)9/30/2025468— 568 
4,145 15,048 
Nello Industries Investco, LLCManufacturer of Steel Poles and Towers For Critical Infrastructure
Secured Debt6/4/202412.50%6/4/202932,072 31,867 32,072 
Preferred Equity(8)6/4/2024336,80311,197 23,330 
43,064 55,402 
NexRev LLCProvider of Energy Efficiency Products & Services
Preferred Member Units(8)2/28/2018103,144,1868,213 12,870 


42
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
NRP Jones, LLCManufacturer of Hoses, Fittings and Assemblies
Secured Debt(14)12/21/201712.00%9/18/20282,191 2,161 474 
Preferred Equity12/8/2011495,000482 — 
Member Units12/22/201174,761114 — 
Member Units12/22/201174,7613,823 — 
Common Equity(29)6/20/2025927,581928 928 
7,508 1,402 
NuStep, LLCDesigner, Manufacturer and Distributor of Fitness Equipment
Secured Debt(9) (17)1/31/201710.48%SF+6.50%1/31/20251,000 1,000 1,000 
Secured Debt(17)1/31/201712.00%1/31/202518,440 18,440 18,440 
Preferred Member Units11/2/20222,4002,785 6,110 
Preferred Member Units1/31/201748611,866 12,200 
34,091 37,750 
OMi Topco, LLCManufacturer of Overhead Cranes
Secured Debt8/31/202112.00%12/31/202929,000 28,956 29,000 
Preferred Member Units(8)4/1/20089001,080 77,900 
30,036 106,900 
Orttech Holdings, LLCDistributor of Industrial Clutches, Brakes and Other Components
Secured Debt(9)7/30/202114.98%SF+11.00%7/31/2026612 612 612 
Secured Debt(9)7/30/202114.98%SF+11.00%7/31/202620,760 20,736 20,760 
Preferred Stock(29)7/30/202110,00010,000 13,450 
31,348 34,822 
Pinnacle TopCo, LLCManufacturer and Distributor of Garbage Can Liners, Poly Bags, Produce Bags, and Other Similar Products
Secured Debt(25)12/21/202312/21/2028— (9)— 
Secured Debt12/21/202313.00%12/21/202827,200 27,037 27,200 
Preferred Equity(8)12/21/202344012,540 20,440 
39,568 47,640 
PPL RVs, Inc.Recreational Vehicle Dealer
Secured Debt(9) (25)10/31/2019SF+8.75%11/15/2027— (3)— 
Secured Debt(9)11/15/201613.04%SF+8.75%11/15/202715,191 15,125 15,191 
Common Stock(8)6/10/20102,0002,150 17,330 
Common Stock(8) (29)6/14/2022238,421238 575 
17,510 33,096 
Principle Environmental, LLCNoise Abatement Service Provider
Secured Debt7/1/201113.00%11/15/20264,897 4,880 4,897 
Preferred Member Units(8)2/1/201121,8065,709 15,740 
Common Stock1/27/20211,0371,200 750 
11,789 21,387 
Quality Lease Service, LLCProvider of Rigsite Accommodation Unit Rentals and Related Services


43
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Member Units6/8/20151,0007,546 460 
River Aggregates, LLCProcessor of Construction Aggregates
Member Units(29)12/20/20131,500369 9,700 
Robbins Bros. Jewelry, Inc.Bridal Jewelry Retailer
Secured Debt(14) (25)12/15/202112/15/2026— (62)(62)
Secured Debt(14)12/15/202112.50%10.00%12/15/202633,660 31,771 14,029 
Preferred Equity12/15/202111,07011,070 — 
42,779 13,967 
Tedder Industries, LLCManufacturer of Firearm Holsters and Accessories
Secured Debt(14) (17)8/31/201812.00%12.00%8/31/20231,203 861 962 
Secured Debt(14) (17)8/31/201812.00%12.00%8/31/202315,200 15,045 2,827 
Preferred Member Units8/28/20236,605661 — 
Preferred Member Units2/1/20235,643564 — 
Preferred Member Units8/31/20185449,245 — 
26,376 3,789 
Televerde, LLCProvider of Telemarketing and Data Services
Preferred Stock1/26/2022248718 1,794 
Member Units(8)1/6/20114601,290 4,822 
2,008 6,616 
Trantech Radiator Topco, LLCTransformer Cooling Products and Services
Secured Debt(25)5/31/20195/31/2027— — — 
Secured Debt5/31/201913.50%5/31/20279,000 8,959 9,000 
Secured Debt11/21/20259.00%5/31/20272,040 2,034 2,040 
Common Equity(29)11/21/2025723696 696 
Common Stock(8)5/31/20196154,655 14,920 
16,344 26,656 
Trinity Medical Holdings, LLCOrthopedic Healthcare Platform
Secured Debt(25)10/8/202510/8/2030— — — 
Secured Debt10/8/202513.00%10/8/203058,500 57,944 57,944 
Preferred Equity10/8/202522,50022,500 22,500 
80,444 80,444 
Victory Energy Operations, LLCProvider of Industrial and Commercial Combustion Systems
Secured Debt10/3/202413.00%10/3/2029862 836 836 
Secured Debt10/3/202413.00%10/3/202948,251 47,889 47,889 
Preferred Equity10/3/202451,42122,471 23,380 
71,196 72,105 
Volusion, LLCProvider of Online Software-as-a-Service eCommerce Solutions
Secured Debt(17)3/31/202310.00%3/31/20252,100 2,100 2,100 
Preferred Member Units3/31/20235,097,5951,830 2,910 


44
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Preferred Member Units3/31/2023142,512— — 
Preferred Member Units1/26/20154,876,67014,000 — 
Common Stock3/31/20231,802,7802,576 — 
20,506 5,010 
VVS Holdco LLCOmnichannel Retailer of Animal Health Products
Secured Debt(9) (25)12/1/2021SF+6.00%12/1/2026— — — 
Secured Debt12/1/202111.50%12/1/202624,000 23,956 23,956 
Preferred Equity(8) (29)12/1/202112,24012,240 12,240 
36,196 36,196 
Ziegler’s NYPD, LLCCasual Restaurant Group
Secured Debt7/31/202512.00%12/31/2027150 150 150 
Secured Debt12/30/202412.00%12/31/20271,750 1,750 1,687 
Preferred Member Units6/30/201516,8783,154 50 
5,054 1,887 
Subtotal Control investments (85.8% of net assets at fair value)
$1,824,132 $2,569,626 
Affiliate Investments (6)
AAC Holdings, Inc.(11)Substance Abuse Treatment Service Provider
Secured Debt4/1/202520.00%20.00%11/24/2032$895 $895 $895 
Secured Debt11/24/202521.00%21.00%11/24/2032513 503 503 
Secured Debt(14)3/28/202520.00%20.00%11/24/20323,109 3,109 2,756 
Secured Debt(14)3/28/202520.00%20.00%11/24/20323,109 3,109 2,756 
Preferred Equity3/28/202512,621,6358,520 2,080 
Common Stock12/11/2020654,7433,148 — 
19,284 8,990 
Boccella Precast Products LLCManufacturer of Precast Hollow Core Concrete
Secured Debt9/23/202110.00%2/28/2027256 256 256 
Member Units(8)6/30/20172,160,0002,256 2,820 
2,512 3,076 
Buca C, LLCCasual Restaurant Group
Secured Debt(14) (17)8/7/202415.00%15.00%11/4/20248,380 6,282 — 
Secured Debt(14) (17)6/28/202415.00%15.00%4/1/202518 — — 
Secured Debt(14) (17)6/30/201515.00%15.00%8/31/202311,112 5,862 — 
Preferred Member Units6/30/201566.00%6.00%4,770 — 
16,914 — 
Career Team Holdings, LLCProvider of Workforce Training and Career Development Services
Secured Debt(9) (25)12/17/2021SF+6.00%6/5/2030— (45)(45)
Secured Debt12/17/202113.00%6/5/203021,892 21,551 21,551 
Common Stock12/17/2021516,6175,166 5,370 
26,672 26,876 
CenterPeak Holdings, LLCExecutive Search Services


45
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt12/10/202115.00%12/10/20261,800 1,794 1,800 
Secured Debt12/10/202115.00%12/10/202625,107 25,103 25,107 
Preferred Equity(8)12/10/20213,3103,635 24,340 
30,532 51,247 
CGMS Parent LLCCommercial Subcontractor Specializing in Concrete Flatwork
Secured Debt(25)12/26/202512/26/2030— (39)(39)
Secured Debt12/26/202513.00%12/26/203025,000 24,754 24,754 
Preferred Equity12/26/20252,00010,000 10,000 
34,715 34,715 
Classic H&G Holdings, LLCProvider of Engineered Packaging Solutions
Preferred Member Units3/12/2020154— 2,040 
Congruent Credit Opportunities Funds(12) (13)Investment Partnership
LP Interests (Congruent Credit Opportunities Fund III, LP)(8) (30)2/4/201512.49%308 24 
Connect Telecommunications Solutions Holdings, Inc.(13) (21)Value-Added Distributor of Fiber Products and Equipment
Secured Debt10/9/202413.00%10/9/202924,336 24,153 24,153 
Preferred Equity10/9/202422,30412,596 12,596 
36,749 36,749 
DMA Industries, LLCDistributor of Aftermarket Ride Control Products
Secured Debt6/18/202410.00%6/18/2029560 556 560 
Secured Debt11/19/202110.00%6/18/202912,800 12,754 12,800 
Preferred Equity11/19/20215,9445,944 9,174 
Preferred Equity(8)6/18/20243,06815.00%15.00%3,754 5,424 
23,008 27,958 
Dos Rios Partners(12) (13)Investment Partnership
LP Interests (Dos Rios Partners, LP)(30)4/25/201320.24%6,032 8,027 
LP Interests (Dos Rios Partners - A, LP)(30)4/25/20136.43%1,915 2,549 
7,947 10,576 
Dos Rios Stone Products LLC(10)Limestone and Sandstone Dimension Cut Stone Mining Quarries
Class A Preferred Units(29)6/27/20162,000,0002,000 — 
EIG Fund Investments(12) (13)Investment Partnership
LP Interests (EIG Global Private Debt Fund-A, L.P.)(8)11/6/20155,000,00084 37 
FCC Intermediate Holdco, LLCSupply Chain Management Services


46
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt(25)5/28/20245/28/2029— — — 
Secured Debt5/28/202413.00%5/29/202931,160 28,448 31,160 
Warrants(8) (27)5/28/2024125/28/20343,920 15,140 
32,368 46,300 
Freeport Financial Funds(12) (13)Investment Partnership
LP Interests (Freeport Financial SBIC Fund LP)(30)3/23/20159.30%2,337 1,600 
LP Interests (Freeport First Lien Loan Fund III LP)(30)7/31/20155.95%671 193 
3,008 1,793 
FRG AcquireCo, LLCTechnology Focused Risk Management Advisory Firm
Secured Debt(25)9/22/20259/22/2028— (19)(19)
Secured Debt9/22/202513.00%9/22/203010,500 10,402 10,402 
Preferred Equity9/22/20253,5003,500 3,500 
13,883 13,883 
GFG Group, LLCGrower and Distributor of a Variety of Plants and Products to Other Wholesalers, Retailers and Garden Centers
Secured Debt3/31/20218.00%3/31/202614,053 14,050 14,053 
Preferred Member Units(8)3/31/20212264,900 10,940 
18,950 24,993 
Gulf Manufacturing, LLC(13)(21)Manufacturer of Specialty Fabricated Industrial Piping Products
Secured Debt(25)3/15/2024SF+8.13%3/15/2029— (32)(32)
Secured Debt3/15/202412.01%SF+8.13%3/15/202937,700 36,784 36,784 
Member Units(8)8/31/20074382,980 6,600 
Common Stock(8) (29)11/18/2024888888 1,450 
Preferred Equity12/23/20252082,077 5,190 
42,697 49,992 
Harris Preston Fund Investments(12) (13)Investment Partnership
LP Interests (HPEP 3, L.P.)(30)8/9/20178.22%1,549 4,116 
LP Interests (HPEP 4, L.P.)(30)7/12/202211.61%6,409 7,463 
LP Interests (423 HAR, L.P.)(8) (30)6/2/202315.60%750 1,226 
8,708 12,805 
Hawk Ridge Systems, LLCValue-Added Reseller of Engineering Design and Manufacturing Solutions
Secured Debt(9)12/2/20169.98%SF+6.00%1/15/20263,219 3,219 3,219 
Secured Debt12/2/201611.00%1/15/202645,256 45,256 45,256 
Preferred Member Units(8)12/2/20162262,850 26,310 
Preferred Member Units(29)12/2/2016226150 1,380 
51,475 76,165 
Houston Plating and Coatings, LLCProvider of Plating and Industrial Coating Services


47
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Unsecured Convertible Debt5/1/201710.00%4/2/20263,000 3,000 3,000 
Member Units(8)1/8/2003322,2972,352 3,720 
5,352 6,720 
Independent Pet Partners Intermediate Holdings, LLC(10)Omnichannel Retailer of Specialty Pet Products
Common Equity4/7/202318,006,40718,300 19,000 
Infinity X1 Holdings, LLCManufacturer and Supplier of Personal Lighting Products
Secured Debt3/31/202312.00%3/31/202815,299 15,289 15,299 
Preferred Equity(8)3/31/202387,3604,368 8,010 
19,657 23,309 
Integral Energy Services(10)Nuclear Power Staffing Services
Secured Debt(9)8/20/202111.75%SF+7.50%8/20/202612,273 12,240 12,042 
Preferred Equity(8)12/7/20233,18810.00%10.00%281 420 
Preferred Equity6/3/20253,07810.00%10.00%328 404 
Common Stock8/20/20219,9681,356 350 
14,205 13,216 
Iron-Main Investments, LLCConsumer Reporting Agency Providing Employment Background Checks and Drug Testing
Secured Debt8/2/202113.00%1/31/20284,514 4,500 4,500 
Secured Debt9/1/202113.00%1/31/20282,940 2,931 2,931 
Secured Debt11/15/202113.00%1/31/20288,944 8,944 8,944 
Secured Debt11/15/202113.00%1/31/202817,624 17,569 17,569 
Secured Debt1/31/202313.00%1/31/20289,554 9,421 9,421 
Preferred Equity6/26/202471125.00%25.00%711 1,030 
Preferred Equity9/26/202515525.00%25.00%155 155 
Common Stock8/3/2021203,0162,756 2,700 
46,987 47,250 
ITA Holdings Group, LLCAir Ambulance Services
Secured Debt(9)6/21/202311.15%SF+7.00%6/21/20271,180 1,172 1,180 
Secured Debt(9)6/30/202511.15%SF+7.00%6/21/20275,310 5,295 5,310 
Secured Debt(9)6/21/202311.15%SF+7.00%6/21/20274,935 4,535 4,935 
Secured Debt(9)6/21/202311.15%SF+7.00%6/21/20274,935 4,535 4,935 
Secured Debt(9)6/30/202511.15%SF+7.00%6/21/20271,770 1,765 1,770 
Warrants(8) (27)6/21/2023193,3076/21/20332,091 15,230 
19,393 33,360 
KMS, LLC(10)Wholesaler of Closeout and Value-Priced Products
Secured Debt(9) (25)12/29/2025SF+5.50%10/1/2028— (40)(40)
Secured Debt2/10/202512.50%10/1/20281,171 1,146 1,146 
Secured Debt2/10/202512.50%10/1/20281,007 1,007 1,007 
Preferred Equity2/10/20259,2134,890 6,270 
7,003 8,383 


48
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Mills Fleet Farm Group, LLC(10)Omnichannel Retailer of Work, Farm and Lifestyle Merchandise
Secured Debt(9)12/19/20249.81%SF+5.50%9.81%1/28/20312,903 2,903 2,796 
Secured Debt(9) (26)4/11/20259.32%SF+5.50%9.32%1/28/20311,729 1,729 1,664 
Preferred Equity(8) (29)12/19/202466,30614,946 12,557 
19,578 17,017 
MoneyThumb Acquisition, LLCProvider of Software-as-a-Service Financial File Conversion and Reconciliation
Secured Debt8/19/202414.00%8/19/20298,160 7,696 7,696 
Preferred Member Units(8)8/19/2024163,28212.00%12.00%1,924 2,112 
Warrants(27)8/19/202459,3688/19/2029594 800 
10,214 10,608 
Nearshore AcquireCo, LLCProvider of Outsourcing Services
Secured Debt(25)11/12/202511/12/2030— (24)(24)
Secured Debt(25)11/12/202511/12/2030— (61)(61)
Secured Debt11/12/202513.00%11/12/203021,900 21,688 21,688 
Preferred Equity11/12/202510,520,0005,260 5,260 
26,863 26,863 
OnAsset Intelligence, Inc.Provider of Transportation Monitoring / Tracking Products and Services
Secured Debt(14)4/18/201112.00%12.00%3/31/20264,415 4,415 645 
Secured Debt(14)5/10/201312.00%12.00%3/31/20262,116 2,116 309 
Secured Debt(14)3/21/201412.00%12.00%3/31/2026983 983 144 
Secured Debt(14)5/20/201412.00%12.00%3/31/2026964 964 141 
Unsecured Debt(14)6/5/201710.00%10.00%3/31/2026305 305 — 
Preferred Stock4/18/20119127.00%7.00%1,981 — 
Common Stock4/15/2021635830 — 
Warrants(27)4/18/20114,6995/10/20271,089 — 
12,683 1,239 
Oneliance, LLCConstruction Cleaning Company
Preferred Stock(8)8/6/20211,1281,128 3,270 
RA Outdoors LLC(10)Software Solutions Provider for Outdoor Activity Management
Secured Debt(9)4/8/202110.89%SF+6.75%10.89%6/30/20271,434 1,433 1,182 
Secured Debt(9) (25)2/5/2025SF+6.75%6/30/2027— — — 
Secured Debt(9)4/8/202110.89%SF+6.75%10.89%6/30/202714,991 14,981 12,355 
Secured Debt(9) (25)7/17/2025SF+6.75%6/30/2027— — — 
Common Equity8/12/2024110— — 
16,414 13,537 
Revenue Recovery Holdings, LLCThird Party Tax Collection Services
Secured Debt(25)7/25/20257/25/2030— (18)(18)
Secured Debt7/25/202513.00%7/25/20306,700 6,640 6,640 


49
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Preferred Equity7/25/2025104,9041,049 1,049 
7,671 7,671 
RFG AcquireCo, LLCAerial Survey, Aerial Survey Equipment Sales & Rental, Aircraft Maintenance
Secured Debt(25)6/2/20256/2/2027— (7)(7)
Secured Debt6/2/202512.50%6/2/20308,000 7,932 7,932 
Secured Debt6/2/202512.50%6/2/203034,000 33,700 33,700 
Preferred Equity6/2/202511,40111,401 12,771 
53,026 54,396 
SI East, LLCRigid Industrial Packaging Manufacturing
Secured Debt8/31/201811.80%6/16/20282,250 2,239 2,250 
Secured Debt(23)6/16/202312.85%6/16/202866,850 66,769 66,850 
Preferred Member Units(8)8/31/20181651,525 17,190 
70,533 86,290 
Slick Innovations, LLCText Message Marketing Platform
Secured Debt9/13/201814.00%3/21/203024,680 24,451 24,680 
Common Stock(8)9/13/201870,000— 2,160 
24,451 26,840 
Specialized Aviation Holdings, LLCDistributor and Service and Maintenance Provider for Specialty Aircraft
Secured Debt8/29/202513.00%8/29/203028,625 28,362 28,362 
Preferred Stock8/29/202525,00015,000 15,000 
43,362 43,362 
Student Resource Center, LLC(10)Higher Education Services
Secured Debt9/11/20248.50%8.50%12/31/2027222 222 780 
Secured Debt(14)12/31/20228.50%8.50%12/31/20275,327 4,884 1,438 
Preferred Equity12/31/20225,907,649— — 
5,106 2,218 
Superior Rigging & Erecting Co.Provider of Steel Erecting, Crane Rental & Rigging Services
Preferred Member Units8/31/20201,6364,500 17,500 
The Affiliati Network, LLCPerformance Marketing Solutions
Preferred Stock9/1/2023312,910313 313 
Preferred Stock(8)8/9/20211,280,0006,400 6,400 
6,713 6,713 
UnionRock Energy Fund II, LP(12) (13)Investment Partnership
LP Interests(30)6/15/202011.11%2,612 4,164 
UnionRock Energy Fund III, LP(12) (13)Investment Partnership
LP Interests(8) (30)6/6/202314.91%4,592 5,165 


50
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
UniTek Global Services, Inc.(11)Provider of Outsourced Infrastructure Services
Preferred Stock8/21/201811,450,41620.00%20.00%8,416 9,388 
Preferred Stock6/30/201721,382,14719.00%19.00%3,667 — 
Preferred Stock1/15/201542,338,44013.50%13.50%7,924 — 
Common Stock4/1/20202,370,059— — 
20,007 9,388 
Urgent DSO LLCGeneral and Emergency Dentistry Practice
Secured Debt2/16/202413.50%2/16/20298,800 8,743 8,672 
Preferred Equity(8)2/16/20244,0004,614 4,356 
13,357 13,028 
Wildcats Topco LLCProvider of Veterinary Services and Products
Common Equity5/8/202522,426,71122,427 22,760 
World Micro Holdings, LLCSupply Chain Management
Secured Debt12/12/202212.00%12/12/20279,886 9,848 9,848 
Preferred Equity(8)12/12/20223,8453,845 3,845 
13,693 13,693 
Subtotal Affiliate investments (32.2% of net assets at fair value)
$881,641 $965,179 
Non-Control/Non-Affiliate Investments (7)
Adams Publishing Group, LLC(10)Local Newspaper Operator
Secured Debt(9) (33)3/11/202211.00%SF+7.00%1.00%3/11/2027$8,000 $8,000 $7,965 
Secured Debt(9) (33)11/26/202511.00%SF+7.00%1.00%3/11/2027789 775 775 
Secured Debt(9) (33)3/11/202211.00%SF+7.00%1.00%3/11/202716,473 16,459 16,402 
25,234 25,142 
AGS American Glass Services Acquisition, LLC(10)Provider of Custom Glass Fabrication & Installation and Specialty Coating Solutions
Secured Debt(9) (25)7/24/2025SF+5.50%7/24/2031— (35)(35)
Secured Debt(9) (25)7/24/2025SF+5.50%7/24/2031— (20)(20)
Secured Debt(9)7/24/20259.22%SF+5.50%7/24/203110,042 9,904 9,800 
Preferred Equity7/24/20257,292729 729 
10,578 10,474 
Airo Purchaser, Inc.(10)Provider of HVAC and Plumbing Installation Services
Secured Debt(9) (25)8/1/2025SF+5.25%8/1/2030— (63)(63)
Secured Debt(9) (25)8/1/2025SF+5.25%8/1/2030— (32)(32)
Secured Debt(9)8/1/20259.22%SF+5.25%8/1/203027,595 27,152 27,269 
Common Equity8/1/20251,5211,521 1,521 
28,578 28,695 


51
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
AMEREQUIP LLC(10)Full Services Provider Including Design, Engineering and Manufacturing of Commercial and Agricultural Equipment
Common Stock(8)8/31/20222351,844 — 
American Health Staffing Group, Inc.(10)Healthcare Temporary Staffing
Secured Debt(9) (25)11/19/2021P+5.00%11/19/2026— (2)(2)
Secured Debt(9)11/19/202111.75%P+5.00%11/19/20265,600 5,589 5,600 
5,587 5,598 
ArborWorks, LLC(10)Vegetation Management Services
Secured Debt11/6/202315.00%15.00%11/6/20284,177 4,177 4,177 
Secured Debt(9)11/6/202310.34%SF+6.50%10.34%11/6/20288,985 8,985 8,985 
Preferred Equity11/6/202332,50714,060 16,659 
Preferred Equity11/6/202332,507— — 
Common Equity11/9/20213,898234 — 
27,456 29,821 
Archer Systems, LLC(10)Mass Tort Settlement Administration Solutions Provider
Common Stock(8)8/11/20221,387,8321,388 2,450 
ATS Operating, LLC(10)For-Profit Thrift Retailer
Secured Debt(9) (32)1/18/202210.22%SF+6.00%1/18/20281,800 1,737 1,800 
Secured Debt(9)1/18/20229.25%SF+5.00%1/18/20286,660 6,660 6,660 
Secured Debt(9)1/18/202211.25%SF+7.00%1/18/20286,660 6,660 6,660 
Common Stock1/18/2022720,000720 970 
15,777 16,090 
Auria Space, LLC(10)Provider of Satellite Operations and Command Software for Defense and Intelligence Platforms
Secured Debt(9) (25)12/31/2025SF+5.00%12/31/2030— (168)(168)
Secured Debt(9) (25)12/31/2025SF+5.00%12/31/2030— (299)(299)
Secured Debt(9)12/31/20258.72%SF+5.00%12/31/203057,004 56,163 56,163 
55,696 55,696 
AVEX Aviation Holdings, LLC(10)Specialty Aircraft Dealer & MRO Provider
Secured Debt(9) (25)12/23/2022SF+7.25%12/23/2027— (63)(63)
Secured Debt(9)12/23/202211.09%SF+7.25%12/23/202723,451 23,046 23,451 
Secured Debt(9) (25)12/18/2025SF+7.25%12/23/2027— (38)(38)
Common Equity(8)12/15/2021984934 920 
23,879 24,270 
Behavior Development Group Holdings(10)Applied Behavior Analysis Therapy Provider
Secured Debt(9) (25)12/17/2025SF+6.00%12/17/2030— (22)(22)
Secured Debt(9)12/17/20259.70%SF+6.00%12/17/20309,596 9,454 9,454 
Common Equity12/17/2025300300 300 


52
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
9,732 9,732 
Berry Aviation, Inc.(10)Charter Airline Services
Preferred Member Units(29)3/8/2024286,109286 — 
Preferred Member Units(29)11/12/2019122,416— — 
Preferred Member Units(29)7/6/20181,548,387— — 
286 — 
Bluestem Brands, Inc.(11)Multi-Channel Retailer of General Merchandise
Secured Debt(9) (14)1/9/202412.49%SF+8.50%11.49%1/31/2026202 129 239 
Secured Debt(9) (14)10/19/202214.25%P+7.50%13.25%1/31/20262,780 2,780 182 
Secured Debt(9) (14)8/28/202012.49%SF+8.50%11.49%1/31/20264,183 3,961 — 
Common Stock10/1/2020723,1841 — 
Warrants(27)10/19/2022163,29510/19/20321,036 — 
7,907 421 
B-O-F Corporation(10)Manufacturer of Gravity Flow Shelving Solutions for Retail Applications
Secured Debt(9) (25)2/3/2025SF+5.75%2/3/2030— (17)(17)
Secured Debt(9)2/3/20258.74%SF+4.75%2/3/20303,938 3,882 3,912 
Secured Debt(9)2/3/202510.74%SF+6.75%2/3/20303,938 3,882 3,912 
Common Equity2/3/2025248,718249 249 
7,996 8,056 
Bond Brand Loyalty ULC(10) (13) (21)Provider of Loyalty Marketing Services
Secured Debt(9)5/1/20239.89%SF+5.75%5/1/2028571 557 571 
Secured Debt(9)10/31/20259.59%SF+5.75%5/1/20281,396 1,369 1,396 
Secured Debt(9)5/1/20238.89%SF+4.75%5/1/20286,277 6,218 6,277 
Secured Debt(9)5/1/202310.89%SF+6.75%5/1/20286,277 6,218 6,277 
Preferred Equity5/1/2023571571 550 
Common Equity5/1/2023571— — 
14,933 15,071 
BP Loenbro Holdings Inc.(10)Specialty Industrial Maintenance Services
Secured Debt(9) (32)2/1/20249.75%SF+5.75%2/1/20293,946 3,819 3,946 
Secured Debt(9)2/1/20249.84%SF+5.75%2/1/20292,984 2,927 2,984 
Secured Debt(9)2/1/20249.75%SF+5.75%2/1/202925,673 25,349 25,673 
Secured Debt(9)1/2/20259.83%SF+5.75%2/1/20299,410 9,303 9,410 
Secured Debt(9)7/1/20259.84%SF+5.75%2/1/202914,899 14,643 14,899 
Common Equity2/1/20242,583,9632,709 9,910 
58,750 66,822 
Brainworks Software, LLC(10)Advertising Sales and Newspaper Circulation Software
Secured Debt(9) (14) (17)8/12/201414.75%P+7.25%7/22/2019761 761 — 
Secured Debt(9) (14) (17)8/12/201414.75%P+7.25%7/22/20197,056 7,056 — 
7,817 — 


53
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Brightwood Capital Fund Investments(12) (13)Investment Partnership
LP Interests (Brightwood Capital Fund III, LP)(30)7/21/20141.59%4,983 2,692 
LP Interests (Brightwood Capital Fund IV, LP)(8) (30)10/26/20160.59%3,202 3,224 
LP Interests (Brightwood Capital Fund V, LP)(8) (30)7/12/20210.72%4,900 5,146 
13,085 11,062 
CaseWorthy, Inc.(10)SaaS Provider of Case Management Solutions
Common Equity12/30/2022325,408325 710 
Channel Partners Intermediateco, LLC(10)Outsourced Consumer Services Provider
Secured Debt(9) (32)2/7/202210.84%SF+6.75%2/7/20277,250 7,146 7,250 
Secured Debt(9)2/7/202210.84%SF+6.75%2/7/202735,794 35,634 35,794 
Secured Debt(9)6/24/202210.84%SF+6.75%2/7/20271,983 1,974 1,983 
Secured Debt(9)3/27/202310.84%SF+6.75%2/7/20274,793 4,758 4,793 
49,512 49,820 
Clarius BIGS, LLC(10)Prints & Advertising Film Financing
Secured Debt(14) (17)9/23/20141/5/20152,628 2,628 8 
Computer Data Source, LLC(10)Third Party Maintenance Provider to the Data Center Ecosystem
Secured Debt(9) (32)8/6/202112.28%SF+8.25%12.02%8/6/20268,830 8,800 8,393 
Secured Debt(9)8/6/202112.02%SF+8.25%12.02%8/6/202621,410 21,367 20,352 
30,167 28,745 
Core Transformers(10)Refurbisher and Distributor of Electric Transformers
Secured Debt(9) (25)9/24/2025SF+5.50%9/23/2031— (59)(59)
Secured Debt(9) (25)9/24/2025SF+5.50%9/23/2031— (59)(59)
Secured Debt(9)9/24/20259.23%SF+5.50%9/23/20316,269 6,151 6,151 
Common Equity9/24/2025626,923627 627 
6,660 6,660 
Coregistics Buyer LLC(10) (13) (21)Contract Packaging Service Provider
Secured Debt(9)6/29/202410.32%SF+6.50%6/28/20291,669 1,608 1,656 
Secured Debt(9)6/29/202410.34%SF+6.50%6/28/202910,570 10,391 10,484 
Secured Debt(9)6/29/202410.59%SF+6.75%6/28/202931,790 31,236 31,678 
Secured Debt(9)8/15/202410.37%SF+6.50%6/28/20297,047 6,945 6,989 
50,180 50,807 
CQ Fluency, LLC(10)Global Language Services Provider
Secured Debt(9) (25)12/27/2023SF+6.75%6/27/2027— (28)(28)
Secured Debt(9)12/27/202310.52%SF+6.75%6/27/202710,266 10,133 10,266 
10,105 10,238 


54
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
CRC Evans USA Bidco, Inc.(10) (13) (21)Manufacturers of Equipment, Including Drilling Rigs and Equipment, and Providers of Supplies and Services to Companies Involved in the Drilling, Evaluation and Completion of Oil and Gas Wells
Secured Debt(9) (32)8/19/202210.87%SF+6.75%6/30/20296,838 6,676 6,838 
Secured Debt(25)12/31/2025SF+6.75%6/30/2029— (280)(280)
Secured Debt(9)12/31/202510.70%SF+6.75%6/30/20299,542 9,355 9,355 
Secured Debt(9)8/19/202210.83%SF+6.75%6/30/202914,949 14,614 14,949 
30,365 30,862 
Creative Foam Corporation(10)Manufacturer of Custom Engineered Die Cut, Formed Foam, Nonwoven, and Multi-material Component Solutions for the Automotive and Healthcare Markets
Secured Debt(9) (25)6/27/2024SF+6.75%6/27/2029— (184)(184)
Secured Debt(9)3/4/202510.69%SF+6.75%6/27/20295,531 5,435 5,531 
Secured Debt(9)6/27/202410.44%SF+6.75%6/27/202988,683 87,428 88,683 
Common Equity3/4/202510,8511,085 860 
93,764 94,890 
Dalton US Inc.(10)Provider of Supplemental Labor Services
Common Stock8/16/2022515720 650 
DTE Enterprises, LLC(10)Industrial Powertrain Repair and Services
Class AA Preferred Member Units (non-voting)4/13/201810.00%10.00%1,316 — 
Class A Preferred Member Units4/13/2018776,3168.00%8.00%776 — 
2,092 — 
Dynamic Communities, LLC(10)Developer of Business Events and Online Community Groups
Secured Debt(9)12/20/202211.82%SF+8.00%11.82%12/31/20262,612 2,507 2,612 
Secured Debt(9)12/20/202212.82%SF+9.00%12/31/20262,493 2,259 2,463 
Preferred Equity12/20/2022125,000128 110 
Preferred Equity12/20/20222,376,241— — 
Common Equity12/20/20221,250,000— — 
4,894 5,185 
Electro Technical Industries, LLC(10)Manufacturer of Mission-Critical Electrical Distribution Systems
Secured Debt(9) (25)3/31/2025SF+5.50%3/31/2030— (149)(149)
Secured Debt(9)3/31/20259.22%SF+5.50%3/31/203050,156 49,312 50,156 
Common Equity3/31/20251,464,2861,464 2,220 
50,627 52,227 
Emerald Technologies Acquisition Co, Inc.(11)Design & Manufacturing


55
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt(9)2/10/202210.22%SF+6.25%12/29/20279,330 9,229 5,878 
EnCap Energy Fund Investments(12) (13)Investment Partnership
LP Interests (EnCap Energy Capital Fund VIII, L.P.)(8) (30)1/22/20150.14%2,613 130 
LP Interests (EnCap Energy Capital Fund VIII Co-
Investors, L.P.)		(8) (30)1/21/20150.38%1,394 5 
LP Interests (EnCap Energy Capital Fund IX, L.P.)(8) (30)1/22/20150.10%3,187 1,056 
LP Interests (EnCap Energy Capital Fund X, L.P.)(8) (30)3/25/20150.15%6,975 4,674 
LP Interests (EnCap Energy Capital Fund XII, L.P.)(8) (30)8/31/20230.19%7,370 7,731 
LP Interests (EnCap Flatrock Midstream Fund II, L.P.)(8) (30)3/30/20150.84%3,799 15 
LP Interests (EnCap Flatrock Midstream Fund III, L.P.)(8) (30)3/27/20150.25%3,371 1,947 
28,709 15,558 
Escalent, Inc.(10)Market Research and Consulting Firm
Secured Debt(9) (25)4/7/2023SF+6.00%4/7/2029— (22)— 
Secured Debt(9)10/2/20249.67%SF+6.00%4/7/20291,354 1,337 1,354 
Secured Debt(9)4/7/20239.67%SF+6.00%4/7/202925,517 25,094 25,517 
Common Equity4/7/2023649,794663 910 
27,072 27,781 
Event Holdco, LLC(10)Event and Learning Management Software for Healthcare Organizations and Systems
Secured Debt(9)12/22/202110.93%SF+7.00%12/22/20263,692 3,685 3,692 
Secured Debt(9)12/22/202110.93%SF+7.00%12/22/202648,035 47,948 48,035 
51,633 51,727 
EWMW LP(12) (13)Investment Partnership
Secured Debt12/23/20259.87%SF+6.00%3,144 3,144 3,144 
Fuse, LLC(11)Cable Networks Operator
Secured Debt6/30/201912.00%12/31/20281,810 1,810 323 
Common Stock6/30/201910,429256 — 
2,066 323 
Garyline, LLC(10)Manufacturer of Consumer Plastic Products
Secured Debt(9) (25)4/14/2025SF+7.25%10/14/2027— (71)— 
Secured Debt(9)4/14/202510.98%SF+7.25%10/14/202728,606 28,203 28,606 
Common Equity11/10/2023705,882706 450 
28,838 29,056 


56
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
GradeEight Corp.(10)Distributor of Maintenance and Repair Parts
Secured Debt(9)10/4/202411.23%SF+7.50%10/4/2029853 778 834 
Secured Debt(9)10/4/202411.23%SF+7.50%10/4/20294,176 4,090 4,090 
Secured Debt(9) (26)10/4/202411.31%SF+7.25%10/4/202930,813 30,347 30,135 
Common Equity10/4/20241,6531,634 1,229 
36,849 36,288 
GS HVAM Intermediate, LLC(10)Specialized Food Distributor
Secured Debt(9) (32)10/18/201910.48%SF+6.50%11/30/20266,061 6,042 6,061 
Secured Debt(9)10/18/201910.47%SF+6.50%11/30/202610,392 10,342 10,392 
Secured Debt(9)9/15/202310.47%SF+6.50%11/30/2026932 928 932 
Secured Debt(9)12/22/202310.47%SF+6.50%11/30/2026223 222 223 
Secured Debt(9)8/22/202410.47%SF+6.50%11/30/20266,011 5,981 6,011 
23,515 23,619 
GULF PACIFIC ACQUISITION, LLC(10)Rice Processor and Merchandiser
Secured Debt(9) (32)9/30/202210.82%SF+7.00%9/30/2028454 444 420 
Secured Debt(9)9/30/202210.83%SF+7.00%9/30/2028295 286 273 
Secured Debt(9)9/30/202210.82%SF+7.00%9/30/20283,542 3,502 3,266 
4,232 3,959 
Harris Preston Fund Investments(12) (13)Investment Partnership
LP Interests (423 AER II, LP)(30)6/2/20254.13%1,590 1,590 
HDC/HW Intermediate Holdings(10)Managed Services and Hosting Provider
Secured Debt(9) (14)3/7/20249.01%SF+3.50%2.50%6/21/20262,607 2,557 2,272 
Secured Debt(14)3/7/20242.50%2.50%6/21/20261,626 713 — 
Common Equity3/7/202464,029— — 
3,270 2,272 
Hornblower Sub, LLC(10)Marine Tourism and Transportation
Secured Debt(9) (32)7/3/20249.32%SF+5.50%1.50%7/3/20294,752 4,718 4,697 
Secured Debt(9)7/3/20249.46%SF+5.50%1.50%7/3/202932,599 32,353 32,163 
37,071 36,860 
HOWLCO LLC(11) (13) (21)Provider of Accounting and Business Development Software to Real Estate End Markets
Secured Debt(9)8/19/202110.51%SF+6.50%3.50%10/23/202727,185 27,185 26,616 
Hybrid Promotions, LLC(10)Wholesaler of Licensed, Branded and Private Label Apparel
Secured Debt(9)6/30/202112.24%SF+8.25%12/31/20277,200 7,115 7,200 
IG Parent Corporation(11)Software Engineering
Secured Debt(9) (25)7/30/2021SF+5.75%7/30/2028— (8)— 


57
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt(9)7/30/20219.57%SF+5.75%7/30/202810,127 10,070 10,127 
Secured Debt(9)7/30/20219.57%SF+5.75%7/30/20284,853 4,822 4,853 
14,884 14,980 
Ignite Visibility LLC(10)Digital Marketing Services Agency
Secured Debt(9)12/15/20258.84%SF+5.00%12/1/20284,759 4,689 4,689 
Secured Debt(9)12/15/202510.84%SF+7.00%12/1/20284,759 4,689 4,689 
9,378 9,378 
Imaging Business Machines, L.L.C.(10)Technology Hardware & Equipment
Common Equity6/8/20238491,166 1,090 
Implus Footcare, LLC(10)Provider of Footwear and Related Accessories
Secured Debt(9)6/13/20259.68%SF+6.00%4.00%10/30/20281,944 1,944 1,944 
Secured Debt(9)7/31/20259.68%SF+6.00%9.68%10/30/20284,425 4,425 4,425 
Common Equity7/31/20254,238,9175,680 4,910 
12,049 11,279 
Insight Borrower Corporation(10)Test, Inspection, and Certification Instrument Provider
Secured Debt(9) (32)7/19/202310.10%SF+6.25%7/19/20281,441 1,401 1,341 
Secured Debt(9)7/19/202310.12%SF+6.25%7/19/202914,118 13,865 13,140 
Common Equity7/19/2023131,100656 270 
15,922 14,751 
Inspire Aesthetics Management, LLC(10)Surgical and Non-Surgical Plastic Surgery and Aesthetics Provider
Secured Debt(9)4/3/202313.97%SF+10.00%2.00%4/3/2028857 846 808 
Secured Debt(9)4/3/202313.97%SF+10.00%2.00%4/3/20287,307 7,224 6,889 
Secured Debt(9)6/14/202313.97%SF+10.00%2.00%4/3/20282,941 2,910 2,773 
Secured Debt(9)12/31/202413.97%SF+10.00%2.00%4/3/2028339 339 320 
Common Equity4/3/2023177,594463 97 
11,782 10,887 
Interface Security Systems, L.L.C(10)Commercial Security & Alarm Services
Secured Debt(17) (32)12/9/202113.92%SF+10.00%13.92%8/7/20232,392 2,392 2,077 
Secured Debt(9) (14) (17)8/7/201911.02%SF+7.00%11.02%8/7/20237,313 7,237 1 
Common Stock12/7/20212,143— — 
9,629 2,078 
Invincible Boat Company, LLC.(10)Manufacturer of Sport Fishing Boats
Secured Debt(9)8/28/201911.37%SF+7.50%3/31/20281,452 1,445 1,319 
Secured Debt(9) (26)8/28/201911.37%SF+7.50%3.37%3/31/202816,805 16,764 15,247 
18,209 16,566 
Isagenix International, LLC(11)Direct Marketer of Health & Wellness Products
Secured Debt(9) (35)4/13/20232.50%4/14/20283,159 3,016 458 
Common Equity4/13/2023198,743— — 
3,016 458 


58
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Island Pump and Tank, LLC(10)Provider of Facility and Maintenance Services to Fuel Retailers in Northeast U.S.
Secured Debt(9)5/20/202411.25%SF+7.00%5/17/2029456 452 443 
Secured Debt(9)5/20/202410.25%SF+6.00%5/17/20292,111 2,084 2,048 
Secured Debt(9)5/20/202411.25%SF+7.00%5/17/20292,111 2,084 2,048 
Secured Debt(9)5/20/202412.25%SF+8.00%5/17/20292,111 2,084 2,048 
6,704 6,587 
Jackmont Hospitality, Inc.(10)Franchisee of Casual Dining Restaurants
Secured Debt(9) (26)10/26/202211.01%SF+7.00%11/4/2026751 747 751 
Secured Debt(9) (26)2/27/202411.23%SF+7.00%11/4/2026625 622 625 
Secured Debt(9) (26)11/1/202411.11%SF+7.00%11/4/2026667 658 667 
Secured Debt(9)11/8/202110.84%SF+7.00%11/4/20261,738 1,728 1,738 
Preferred Equity11/8/20212,826,667110 750 
3,865 4,531 
Joerns Healthcare, LLC(11)Manufacturer and Distributor of Health Care Equipment & Supplies
Secured Debt(9)3/30/202411.94%SF+8.00%3/29/20291,833 1,833 1,833 
Secured Debt(9)3/30/202411.94%SF+8.00%3/29/20291,369 1,369 1,369 
Common Stock3/29/20245,461,019200 350 
3,402 3,552 
LKCM Headwater Investments I, L.P.(12) (13)Investment Partnership
LP Interests(8) (30)1/25/20132.27%— 792 
LLFlex, LLC(10)Provider of Metal-Based Laminates
Secured Debt(9)8/16/202112.14%SF+8.00%3.00%8/16/20264,226 4,207 3,328 
Logix Acquisition Company, LLC(10)Competitive Local Exchange Carrier
Secured Debt(9)4/11/202511.41%SF+7.50%2.75%12/31/202844,135 43,451 44,135 
Secured Debt4/11/202512/31/20282,963 2,287 2,204 
45,738 46,339 
Looking Glass Investments, LLC(12) (13)Specialty Consumer Finance
Member Units7/1/20153125 25 
MCT Purchaserco Holding Inc.(10) (13) (21)Manufacturer and Distributor of High-Voltage Disconnect Switches
Secured Debt(9)12/1/20259.36%SF+5.50%12/2/20306,097 5,985 5,985 
Secured Debt(9)12/1/20259.29%SF+5.50%12/2/203039,755 39,364 39,364 
Common Equity12/1/20251,590,2871,139 1,139 
46,488 46,488 
Microbe Formulas, LLC(10)Nutritional Supplements Provider
Secured Debt(9) (25)4/4/2022SF+5.50%4/3/2028— (27)(27)


59
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt(9)11/20/20249.32%SF+5.50%4/3/202811,023 10,920 11,023 
Secured Debt(9)4/4/20229.32%SF+5.50%4/3/202813,886 13,779 13,886 
24,672 24,882 
Mini Melts of America, LLC(10)Manufacturer and Distributor of Branded Premium Beaded Ice Cream
Secured Debt(9) (32)11/30/202310.06%SF+6.25%11/30/20281,425 1,400 1,361 
Secured Debt(9) (26)11/30/202310.05%SF+6.25%11/30/20281,305 1,285 1,246 
Secured Debt(9)11/30/20239.07%SF+5.25%11/30/20284,833 4,764 4,615 
Secured Debt(9)11/30/202311.07%SF+7.25%11/30/20284,833 4,762 4,597 
Common Equity11/30/2023524,888525 280 
12,736 12,099 
Mission Critical Group(10)Backup Power Generation
Secured Debt(9) (25)4/17/2025SF+5.50%4/17/2030— (196)(196)
Secured Debt(9)4/17/20259.33%SF+5.50%4/17/203014,698 14,274 14,698 
Secured Debt(9)4/17/20259.23%SF+5.50%4/17/203066,099 64,972 66,099 
Common Equity6/7/20231,2341,234 15,530 
80,284 96,131 
MonitorUS Holding, LLC(10) (13) (21)SaaS Provider of Media Intelligence Services
Secured Debt(9)5/24/202210.18%SF+6.25%5/24/20274,101 4,080 4,417 
Secured Debt(9)5/24/202210.18%SF+6.25%5/24/202710,661 10,602 12,399 
Secured Debt(9)5/24/202210.18%SF+6.25%5/24/202717,933 17,839 17,933 
Secured Debt(9)6/25/202510.18%SF+6.25%5/24/20271,231 1,214 1,244 
Unsecured Debt1/31/20258.00%8.00%3/31/202681 81 81 
Common Stock8/30/2022106,608,4241,150 707 
34,966 36,781 
Obra Capital, Inc.(10)Provider of Asset Management Services Specialized in Insurance-Linked Strategies
Secured Debt(9) (25)6/21/2024SF+7.25%12/21/2028— (3)(3)
Secured Debt(9)6/21/202411.09%SF+7.25%6/21/202926,089 25,549 26,089 
Secured Debt(9)5/13/202511.09%SF+7.25%6/21/20293,155 3,075 3,155 
28,621 29,241 
OnPoint Industrial Services, LLC(10)Environmental & Facilities Services
Secured Debt(9)12/18/20249.42%SF+5.75%11/16/20271,386 1,375 1,386 
Secured Debt(9)4/1/20249.42%SF+5.75%11/16/20273,851 3,825 3,851 
5,200 5,237 
Ospemifene Royalty Sub LLC(10)Estrogen-Deficiency Drug Manufacturer and Distributor
Secured Debt(14)7/8/201311/15/20264,348 4,348 19 
Peaches Holding CorporationWholesale Provider of Consumer Packaging Solutions
Common Equity5/22/20243,2267,221 — 


60
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
PrimeFlight Aviation Services(10) (13)Air Freight & Logistics
Secured Debt(9)5/1/20239.35%SF+5.50%5/1/20297,800 7,638 7,800 
Secured Debt(9)9/7/20239.17%SF+5.50%5/1/2029745 728 745 
Secured Debt(9)1/30/20249.17%SF+5.50%5/1/2029749 736 749 
Secured Debt(9)6/28/20248.92%SF+5.25%5/1/2029851 842 851 
Secured Debt(9)1/21/20259.12%SF+5.25%5/1/20291,886 1,871 1,886 
Secured Debt(9)7/31/20259.09%SF+5.25%5/1/20292,021 2,004 2,021 
Secured Debt(9)11/21/20258.63%SF+4.75%5/1/20292,128 2,108 2,108 
15,927 16,160 
Richardson Sales Solutions(10)Business Services
Secured Debt(9)8/24/20238.86%SF+5.00%8/24/20281,353 1,299 1,353 
Secured Debt(9)8/24/20238.86%SF+5.00%8/24/202833,168 32,566 33,168 
Secured Debt(9)9/10/20248.93%SF+5.00%8/24/202821,545 21,255 21,545 
55,120 56,066 
Roof Opco, LLC(10)Residential Re-Roofing/Repair
Secured Debt(25)8/27/20218/31/2029— (2)— 
Secured Debt8/27/202110.00%10.00%8/31/20293,376 3,360 2,444 
Secured Debt8/27/202110.00%10.00%8/31/20293,376 3,360 2,375 
6,718 4,819 
Royal Cup Inc.(10)Coffee Roaster and Beverage Solutions Provider
Secured Debt(9) (25)11/26/2025SF+5.25%11/26/2030— (221)(221)
Secured Debt(9) (25)11/26/2025SF+5.25%11/26/2030— (83)(83)
Secured Debt(9) (25)11/26/2025SF+5.25%11/26/2030— (359)(359)
Secured Debt(9)11/26/20258.98%SF+5.25%11/26/203053,300 52,527 52,527 
Preferred Equity11/26/20253,807,1443,807 3,807 
55,671 55,671 
Rug Doctor, LLC.(10)Carpet Cleaning Products and Machinery
Secured Debt(9)7/16/20219.17%SF+5.50%5/16/20283,721 3,720 3,721 
Secured Debt(9)7/16/20219.17%SF+5.50%5/16/20286,831 6,737 6,831 
10,457 10,552 
South Coast Terminals Holdings, LLC(10)Specialty Toll Chemical Manufacturer
Secured Debt(9) (25)8/8/2024SF+5.25%8/8/2029— — — 
Secured Debt(9)8/8/20249.07%SF+5.25%8/8/202953,320 53,022 53,320 
Secured Debt(9)7/31/20259.07%SF+5.25%8/8/202910,475 10,383 10,475 
Common Equity12/10/2021864864 1,013 
64,269 64,808 
SPAU Holdings, LLC(10)Digital Photo Product Provider
Secured Debt(9) (25)7/1/2022SF+7.00%7/1/2027— (24)— 
Secured Debt(9)7/1/202210.82%SF+7.00%7/1/202715,409 15,291 15,409 
Common Stock7/1/2022638,710639 630 
15,906 16,039 


61
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
TEC Services, LLC(10)Provider of Janitorial Service for Food Retailers
Secured Debt(9) (25)12/31/2024SF+5.50%12/31/2029— (76)(76)
Secured Debt(9) (25)12/31/2024SF+5.50%12/31/2029— (57)(57)
Secured Debt(9)12/31/20249.27%SF+5.50%12/31/202932,010 31,633 31,903 
31,500 31,770 
Tectonic Financial, LLCFinancial Services Organization
Common Stock(8)5/15/2017200,0002,000 5,000 
Tex Tech Tennis, LLC(10)Sporting Goods & Textiles
Preferred Equity(29)7/7/20211,000,0001,000 2,900 
Titan Meter Midco Corp.(10)Value Added Distributor of a Variety of Metering and Measurement Products and Solutions to the Energy Industry
Secured Debt(9)3/11/202410.17%SF+6.50%3/11/20291,439 1,360 1,439 
Secured Debt(9)3/11/202410.17%SF+6.50%3/11/202933,585 32,840 33,585 
Secured Debt(9)2/27/202510.17%SF+6.50%3/11/20294,298 4,214 4,298 
Secured Debt(9)8/5/202510.17%SF+6.50%3/11/20294,863 4,755 4,863 
Preferred Equity3/11/20241,358,8928.00%8.00%1,375 1,540 
44,544 45,725 
U.S. TelePacific Corp.(11)Provider of Communications and Managed Services
Secured Debt(9) (14)6/1/202312.32%SF+8.15%7.00%5/2/20279,811 2,611 3,998 
Secured Debt(14)6/1/20235/2/20271,003 20 — 
2,631 3,998 
UBM AcquireCo LLCMail Commingling and Logistics Provider
Secured Debt(25)12/20/202512/20/2027— (38)(38)
Secured Debt12/20/202510.00%12/20/203042,800 42,379 42,379 
Common Equity12/20/2025808,000 8,000 
50,341 50,341 
UPS Intermediate, LLC(10)Provider of Maintenance, Repair, and Overhaul Services for Industrial Equipment Serving the Refining, Chemical, Midstream, Renewables, Power, and Utilities End Markets
Secured Debt(9)7/29/20249.97%SF+6.25%7/27/202942,903 42,297 42,622 
Common Equity7/29/20241,443,2991,443 1,480 
43,740 44,102 
UserZoom Technologies, Inc.(10)Provider of User Experience Research Automation Software
Secured Debt(9)1/11/202311.63%SF+7.50%4/5/20294,000 3,938 4,000 
Vitesse Systems(10)Component Manufacturing and Machining Platform


62
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Secured Debt(32)12/22/202310.98%SF+7.00%12/22/20287,727 7,599 7,727 
Secured Debt(9)12/22/202310.93%SF+7.00%12/22/202841,650 41,032 41,650 
48,631 49,377 
VORTEQ Coil Finishers, LLC(10)Specialty Coating of Aluminum and Light-Gauge Steel
Common Equity(8)11/30/20211,038,4621,038 3,610 
Wash & Wax Systems LLC(10)Express Car Wash Operator
Secured Debt(9) (32)4/30/20259.28%SF+5.50%4/30/2028322 322 322 
Secured Debt(9)4/30/20259.34%SF+5.50%4/30/20287,546 7,546 7,546 
Secured Debt4/30/202512.00%12.00%7/31/20285,353 5,353 5,353 
Common Equity4/30/20253,2193,410 1,520 
16,631 14,741 
Watterson Brands, LLC(10)Facility Management Services
Secured Debt(14)12/17/202112.00%4.00%12/17/20262,339 2,328 1,595 
Secured Debt(14)12/17/202112.00%4.00%12/17/2026403 394 275 
Secured Debt(14)12/17/202112.00%4.00%12/17/202616,589 16,527 11,314 
Secured Debt(14)12/17/202112.00%4.00%12/17/202613,269 13,219 9,049 
32,468 22,233 
Winter Services LLC(10)Provider of Snow Removal and Ice Management Services
Secured Debt(9) (32)11/19/202111.49%SF+7.50%11/19/20274,000 3,980 4,000 
Secured Debt(9)11/19/202111.75%SF+7.50%11/19/20271,874 1,865 1,874 
Secured Debt(9)1/16/202410.75%SF+6.50%11/19/20277,240 7,185 7,240 
Secured Debt(9)1/16/202412.75%SF+8.50%11/19/20277,240 7,185 7,240 
20,215 20,354 
Xenon Arc, Inc.(10)Tech-enabled Distribution Services to Chemicals and Food Ingredients Primary Producers
Secured Debt(9)12/17/20219.54%SF+5.75%12/20/202823,571 23,374 23,571 
Secured Debt(9)12/17/20219.72%SF+5.75%12/20/202837,056 36,774 37,056 
Secured Debt(9)3/31/20259.52%SF+5.75%12/20/202810,552 10,386 10,552 
70,534 71,179 
YS Garments, LLC(11)Designer and Provider of Branded Activewear
Secured Debt(9) (26)8/22/201811.48%SF+7.50%8/9/202710,592 10,507 8,893 
ZRG Partners, LLC(10)Talent Advisory Services Provider
Secured Debt(9)6/14/202411.75%P+5.00%6/14/20296,601 6,457 6,601 
Secured Debt(9) (26)6/14/20249.69%SF+6.00%6/14/202911,781 11,558 11,781 
Secured Debt(9)6/14/20249.60%SF+6.00%6/14/20296,502 6,409 6,502 
Secured Debt(9)6/14/20249.73%SF+6.00%6/14/202946,518 45,853 46,518 
70,277 71,402 
Subtotal Non-Control/Non-Affiliate investments (66.2% of net assets at fair value)
$2,018,755 $1,983,312 


63
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
Portfolio Company (1) (20)Business DescriptionType of Investment
(2) (3) (15)		Investment Date
(24)		Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity
Date		Principal (4)Cost (4)Fair Value (18)
Total Portfolio Company investments, December 31, 2025 (184.3% of net assets at fair value)
$4,724,528 $5,518,117 
Money market funds (included in cash and cash equivalents)
Dreyfus Government Cash Management (36)$1,227 $1,227 
Fidelity Government Fund (37)1,171 1,171 
Fidelity Treasury (31)850 850 
Total money market funds$3,248 $3,248 
___________________________
(1)All investments are LMM portfolio investments, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of LMM portfolio investments. All of the Company’s investments, unless otherwise noted, are encumbered either as security for the Corporate Facility or SPV Facility or in support of the debentures guaranteed by the SBA and issued by the Funds.
(2)Debt investments are income producing, unless otherwise noted by footnote (14), as described below. Equity and warrants are non-income producing, unless otherwise noted by footnote (8), as described below.
(3)See Note C — Fair Value Hierarchy for Investments — Portfolio Composition and Schedule 12-14 for a summary of geographic location of portfolio companies.
(4)Principal is net of repayments. Cost is net of repayments and accumulated unearned income. Negative cost is the result of the capitalized discount being greater than the principal amount outstanding on the loan.
(5)“Control” investments are defined by the 1940 Act as investments in which more than 25% of the voting securities are owned or where the ability to nominate greater than 50% of the board representation is maintained.
(6)“Affiliate” investments are defined by the 1940 Act as investments in which between 5% and 25% (inclusive) of the voting securities are owned and the investments are not classified as Control investments.
(7)“Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.
(8)Income producing through dividends or distributions.
(9)Index based floating interest rate is subject to contractual minimum interest rate. As noted in this schedule, 96% of the loans (based on the par amount) contain Term SOFR floors which range between 0.50% and 5.25%, with a weighted-average floor of 1.31%.
(10)Private Loan portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Private Loan portfolio investments.
(11)Middle Market portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Middle Market portfolio investments.
(12)Other Portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Other Portfolio investments.
(13)Investment is not a qualifying asset as defined under Section 55(a) of the 1940 Act. Qualifying assets must represent at least 70% of total assets at the time of acquisition of any additional non-qualifying assets.
(14)Non-accrual or non-income producing debt investment.
(15)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.”


64
Table of contents
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments (Continued)
December 31, 2025
(dollars in thousands)
(16)External Investment Manager. Investment is not encumbered as security for the Credit Facilities or in support of the SBA-guaranteed debentures issued by the Funds.
(17)Maturity date is under on-going negotiations with the portfolio company and other lenders, if applicable.
(18)Investment Fair Value was determined using significant unobservable inputs, unless otherwise noted. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for further discussion. Negative fair value is the result of the capitalized discount on the loan or the unfunded commitment being valued below par.
(19)Investments may have a portion, or all, of their income received from PIK interest or dividends. PIK interest income and cumulative dividend income represent income not paid currently in cash. The difference between the Total Rate and PIK Rate represents the cash rate as of December 31, 2025.
(20)All portfolio company headquarters are based in the U.S., unless otherwise noted.
(21)Portfolio company headquarters are located outside of the U.S.
(22)The Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of SOFR+6.50% (Floor 1.50%) per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate.
(23)The Company has entered into an intercreditor agreement that entitles the Company to the “last out” tranche of the first lien secured loans, whereby the “first out” tranche will receive priority as to the “last out” tranche with respect to payments of principal, interest, and any other amounts due thereunder. Therefore, the Company receives a higher interest rate than the contractual stated interest rate of 11.80% per the credit agreement and the Consolidated Schedule of Investments above reflects such higher rate.
(24)Investment Date represents the date of initial investment in the security position.
(25)The position is unfunded and no interest income is being earned as of December 31, 2025. The position may earn a nominal unused facility fee on committed amounts.
(26)Each new draw or funding on the facility has a different floating rate reset date. The rate presented represents a weighted-average rate for borrowings under the facility, as of December 31, 2025.
(27)Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit.
(28)A majority of the variable rate loans in the Investment Portfolio bear interest at a rate that may be determined by reference to either SOFR (“SF”) or an alternate base rate (commonly based on the federal funds rate or the Prime rate (“P”)), which typically resets every one, three, or six months at the borrower’s option. SOFR based contracts may include a credit spread adjustment (the “Adjustment”) that is charged in addition to the stated spread. The Adjustment is applied when the SOFR, plus the Adjustment, exceeds the stated floor rate, as applicable. As of December 31, 2025, SOFR based contracts in the portfolio had Adjustments ranging from 0.10% to 0.26%.
(29)Shares/Units represent ownership in a related real estate or holding entity.
(30)Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated.
(31)Effective yield as of December 31, 2025 was approximately 3.43% on the Fidelity Treasury.
(32)Revolving line of credit facility permits the borrower to make an interest rate election regarding the base rate on each draw under the facility. The rate presented represents a weighted-average rate for borrowings under the facility, as of December 31, 2025.
(33)Index based floating interest rate is subject to contractual maximum base rate of 3.00%.
(34)Index based floating interest rate is subject to contractual maximum base rate of 4.00%.
(35)Investment is accruing income at the fixed cash rate of 2.50% as of December 31, 2025.
(36)Effective yield as of December 31, 2025 was approximately 3.70% on the Dreyfus Government Cash Management.
(37)Effective yield as of December 31, 2025 was approximately 3.43% on the Fidelity Government Fund.


65
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements
(Unaudited)
NOTE A — ORGANIZATION AND BASIS OF PRESENTATION
1.Organization
Main Street Capital Corporation (“MSCC” or, together with its consolidated subsidiaries, “Main Street” or the “Company”) is a principal investment firm primarily focused on providing customized long-term debt and equity capital solutions to lower middle market (“LMM”) companies (its “LMM investment strategy”) and debt capital to private (“Private Loan”) companies owned by or in the process of being acquired by a private equity fund (its “Private Loan investment strategy”). Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one-stop” debt and equity financing solutions within its LMM investment strategy. Main Street invests primarily in secured debt investments, equity investments, warrants and other securities of LMM companies typically based in the U.S. Main Street also seeks to partner with private equity fund sponsors in its Private Loan investment strategy and primarily invests in secured debt investments of Private Loan companies generally headquartered in the U.S.
Main Street also maintains a legacy portfolio of investments in larger middle market (“Middle Market”) companies (its “Middle Market investment portfolio”) and a limited portfolio of other portfolio (“Other Portfolio”) investments. Main Street’s Middle Market investments are generally debt investments in companies owned by a private equity fund that were originally issued through a syndication financing process. Main Street has generally stopped making new Middle Market investments and expects the size of its Middle Market investment portfolio to continue to decline in future periods as its existing Middle Market investments are repaid or sold. Main Street’s Other Portfolio investments primarily consist of investments that are not consistent with the typical profiles for its LMM, Private Loan or Middle Market portfolio investments, including investments in unaffiliated investment companies and private funds managed by third parties.
The “Investment Portfolio,” as used herein, refers to all of Main Street’s investments in LMM portfolio companies, investments in Private Loan portfolio companies, investments in Middle Market portfolio companies, Other Portfolio investments, short-term portfolio investments (see Note C — Fair Value Hierarchy for Investments — Portfolio Composition — Investment Portfolio Composition) and the investment in the External Investment Manager (as defined below).
MSCC was formed in March 2007 to operate as an internally managed business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). Because MSCC is internally managed, all of the executive officers and other employees are employed by MSCC. Therefore, MSCC does not pay any external investment advisory fees, but instead directly incurs the operating costs associated with employing investment and portfolio management professionals.
MSCC wholly owns several investment funds, including Main Street Mezzanine Fund, LP (“MSMF”) and Main Street Capital III, LP (“MSC III” and, together with MSMF, the “Funds”), and each of their general partners. The Funds are each licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration (“SBA”).
MSC Adviser I, LLC (the “External Investment Manager”) was formed in November 2013 as a wholly-owned subsidiary of Main Street to provide investment management and other services to parties other than Main Street (“External Parties”) and earns fee income for such services. MSCC has been granted no-action relief by the Securities and Exchange Commission (“SEC”) to allow the External Investment Manager to register as a registered investment adviser under the Investment Advisers Act of 1940, as amended. Since the External Investment Manager conducts all of its investment management activities for External Parties, it is accounted for as a portfolio investment of Main Street and is not included as a consolidated subsidiary in Main Street’s consolidated financial statements.
MSCC has elected to be treated for U.S. federal income tax purposes as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). As a result, MSCC generally does not pay corporate-level U.S. federal income taxes on any net ordinary taxable income or capital gains that it distributes to its stockholders.


66
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


MSCC has certain direct and indirect wholly-owned subsidiaries that have elected to be taxable entities (the “Taxable Subsidiaries”). The primary purpose of the Taxable Subsidiaries is to permit MSCC to hold equity investments in portfolio companies which are “pass-through” entities for tax purposes. MSCC also has certain direct and indirect wholly-owned subsidiaries formed for financing purposes (the “Structured Subsidiaries”).
Unless otherwise noted or the context otherwise indicates, the terms the “Company” and “Main Street” refer to MSCC and its consolidated subsidiaries, which include the Funds, the Taxable Subsidiaries and the Structured Subsidiaries.
2.Basis of Presentation
Main Street’s consolidated financial statements are prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). The Company is an investment company following accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 946, Financial Services—Investment Companies (“ASC 946”). For each of the periods presented herein, Main Street’s consolidated financial statements include the accounts of MSCC and its consolidated subsidiaries. Main Street’s results of operations for the three and six months ended June 30, 2026 and 2025, cash flows for the six months ended June 30, 2026 and 2025 and financial position as of June 30, 2026 and December 31, 2025 are presented on a consolidated basis. The effects of all intercompany transactions between MSCC and its consolidated subsidiaries have been eliminated in consolidation.
The accompanying unaudited consolidated financial statements of Main Street are presented in conformity with U.S. GAAP for interim financial information and pursuant to the requirements for reporting on Form 10-Q and Articles 6, 10 and 12 of Regulation S-X. Accordingly, certain disclosures accompanying annual consolidated financial statements prepared in accordance with U.S. GAAP are omitted. The unaudited consolidated financial statements and notes should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2025. In the opinion of management, the unaudited consolidated financial results included herein contain all adjustments, consisting solely of normal recurring accruals, considered necessary for the fair presentation of financial statements for the interim periods included herein. The results of operations for the three and six months ended June 30, 2026 are not necessarily indicative of the operating results to be expected for the full year. Financial statements prepared on a U.S. GAAP basis require management to make estimates and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Such estimates and assumptions could change in the future as more information becomes known, which could impact the amounts reported and disclosed herein.
Principles of Consolidation
Under ASC 946, Main Street is precluded from consolidating other entities in which Main Street has equity investments, including those in which it has a controlling interest, unless the other entity is another investment company. An exception to this general principle in ASC 946 occurs if Main Street holds a controlling interest in an operating company that provides all or substantially all of its services directly to Main Street. Accordingly, as noted above, Main Street’s consolidated financial statements include the financial position and operating results for the Funds, the Taxable Subsidiaries and the Structured Subsidiaries. Main Street has determined that none of its portfolio investments qualify for this exception, including the investment in the External Investment Manager. Therefore, Main Street’s Investment Portfolio is carried on the Consolidated Balance Sheets at fair value (see Note B.1. — Summary of Significant Accounting Policies — Valuation of the Investment Portfolio below), with any adjustments to fair value recognized as “Net Unrealized Appreciation (Depreciation)” until the investment is realized, usually upon exit, resulting in any gain or loss being recognized as a “Net Realized Gain (Loss),” in both cases, on the Consolidated Statements of Operations.
Portfolio Investment Classification
Main Street classifies its Investment Portfolio in accordance with the requirements of the 1940 Act. Under the 1940 Act, (a) “Control” investments are defined as investments in which Main Street owns more than 25% of the voting securities or has rights to maintain greater than 50% of the board representation, (b) “Affiliate” investments are defined as investments in which Main Street owns between 5% and 25% (inclusive) of the voting securities and does not have rights to maintain greater than 50% of the board representation and (c) “Non-Control/Non-Affiliate” investments are defined as investments that are neither Control investments nor Affiliate investments. For purposes of determining the classification of its Investment Portfolio, Main Street has excluded consideration of any voting securities or board appointment rights held by advisory clients of the External Investment Manager.


67
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


NOTE B — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
1.Valuation of the Investment Portfolio
Main Street accounts for its Investment Portfolio at fair value. As a result, Main Street follows the provisions of ASC 820, Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value and enhances disclosure requirements for fair value measurements. ASC 820 requires Main Street to assume that the portfolio investment is to be sold in the principal market to independent market participants, which may be a hypothetical market. Market participants are defined as buyers and sellers in the principal market that are independent, knowledgeable and willing and able to transact.
Main Street’s portfolio strategy calls for it to invest primarily in illiquid debt and equity securities issued by LMM companies and debt securities issued by Private Loan companies. Main Street also maintains a legacy portfolio of investments in Middle Market companies and a limited portfolio of Other Portfolio investments. Main Street’s portfolio may also periodically include short-term portfolio investments that are atypical of Main Street’s LMM and Private Loan portfolio investments as they are intended to be a short-term deployment of capital and are more liquid than investments within the LMM and Private Loan investment portfolios. Main Street’s portfolio investments may be subject to restrictions on resale.
LMM investments and Other Portfolio investments generally have no established trading market, while Private Loan investments may include investments which have no established market or have established markets that are not active. Middle Market and short-term portfolio investments generally have established markets that are not active. Main Street determines in good faith the fair value of its Investment Portfolio pursuant to a valuation policy in accordance with ASC 820, with such valuation process approved by its Board of Directors and in accordance with the 1940 Act. Main Street’s valuation policies and processes are intended to provide a consistent basis for determining the fair value of Main Street’s Investment Portfolio.
For LMM portfolio investments, Main Street generally reviews external events, including private mergers, sales and acquisitions involving comparable companies, and includes these events in the valuation process by using an enterprise value waterfall (“Waterfall”) valuation method for its LMM equity investments and an income approach using a yield-to-maturity model (“Yield-to-Maturity”) valuation method for its LMM debt investments. For Private Loan and Middle Market portfolio investments in debt securities for which it has determined that third-party quotes or other independent pricing are not available or appropriate, Main Street generally estimates the fair value based on the assumptions that it believes hypothetical market participants would use to value the investment in a current hypothetical sale using the Yield-to-Maturity valuation method. For Middle Market and short-term portfolio investments in debt securities for which it has determined that third-party quotes or other independent prices are available, Main Street primarily uses quoted prices in the valuation process. Main Street determines the appropriateness of the use of third-party broker quotes, if any, in determining fair value based on its understanding of the level of actual transactions used by the broker to develop the quote and whether the quote was an indicative price or binding offer, the depth and consistency of broker quotes and the correlation of changes in broker quotes with underlying performance of the portfolio company and other market indices. For its Other Portfolio equity investments, Main Street generally calculates the fair value of the investment primarily based on the net asset value (“NAV”) of the investment fund and adjusts the fair value for other factors deemed relevant that would affect the fair value of the investment. All of the valuation approaches for Main Street’s portfolio investments estimate the value of the investment as if Main Street were to sell, or exit, the investment as of the measurement date.
These valuation approaches consider the value associated with Main Street’s ability to control the capital structure of the portfolio company, as well as the timing of a potential exit. For valuation purposes, “control” portfolio investments are composed of debt and equity securities in companies for which Main Street has a controlling interest in the equity ownership of the portfolio company or the ability to nominate a majority of the portfolio company’s board of directors. For valuation purposes, “non-control” portfolio investments are generally composed of debt and equity securities in companies for which Main Street does not have a controlling interest in the equity ownership of the portfolio company or the ability to nominate a majority of the portfolio company’s board of directors.


68
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Under the Waterfall valuation method, Main Street estimates the enterprise value of a portfolio company using a combination of market and income approaches or other appropriate valuation methods, such as considering recent transactions in the equity securities of the portfolio company or third-party valuations of the portfolio company, and then performs a Waterfall calculation by allocating the enterprise value over the portfolio company’s securities in order of their preference relative to one another. The enterprise value is the fair value at which an enterprise could be sold in a transaction between two willing parties, other than through a forced or liquidation sale. Typically, privately held companies are bought and sold based on multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”), cash flows, net income, revenues, or in limited cases, book value. There is no single methodology for estimating enterprise value. For any one portfolio company, enterprise value is generally described as a range of values from which a single estimate of enterprise value is derived. In estimating the enterprise value of a portfolio company, Main Street analyzes various factors including the portfolio company’s historical and projected financial results. Due to SEC deadlines for Main Street’s quarterly and annual financial reporting, the operating results of a portfolio company used in the current period valuation are generally the results from the period ended three months prior to such valuation date and may include unaudited, projected, budgeted or pro forma financial information and may require adjustments for non-recurring items or to normalize the operating results that may require significant judgment in determining. In addition, projecting future financial results requires significant judgment regarding future growth assumptions. In evaluating the operating results, Main Street also analyzes the impact of exposure to litigation, loss of customers or other contingencies. After determining the appropriate enterprise value, Main Street allocates the enterprise value to investments in order of the legal priority of the various components of the portfolio company’s capital structure. In applying the Waterfall valuation method, Main Street assumes the loans are paid-off at the principal amount in a change in control transaction and are not assumed by the buyer, which Main Street believes is consistent with its past transaction history and standard industry practices.
Under the Yield-to-Maturity valuation method, Main Street also uses the income approach to determine the fair value of debt securities based on projections of the discounted future free cash flows that the debt security will likely generate, including analyzing the discounted cash flows of interest and principal amounts for the debt security, as set forth in the associated loan agreements, as well as the financial position and credit risk of the portfolio company. Main Street’s estimate of the expected repayment date of its debt securities is generally the maturity date of the instrument, as Main Street generally intends to hold its loans and debt securities to maturity. The Yield-to-Maturity analysis also considers changes in leverage levels, credit quality, portfolio company performance, changes in market-based interest rates and other factors. Main Street will generally use the value determined by the Yield-to-Maturity analysis as the fair value for that security; however, because of Main Street’s general intent to hold its loans to maturity, the fair value will not exceed the principal amount of the debt security valued using the Yield-to-Maturity valuation method. A change in the assumptions that Main Street uses to estimate the fair value of its debt securities using the Yield-to-Maturity valuation method could have a material impact on the determination of fair value. If there is deterioration in credit quality or if a debt security is in workout status, Main Street may consider other factors in determining the fair value of the debt security, including the value attributable to the debt security from the enterprise value of the portfolio company or the proceeds that would most likely be received in a liquidation analysis.
Under the NAV valuation method, for an investment in an investment fund that does not have a readily determinable fair value, Main Street measures the fair value of the investment predominately based on the NAV of the investment fund as of the measurement date and adjusts the investment’s fair value for factors known to Main Street that would affect that fund’s NAV, including, but not limited to, fair values for individual investments held by the fund if Main Street holds the same investment or for a publicly traded investment. In addition, in determining the fair value of the investment, Main Street considers whether adjustments to the NAV are necessary in certain circumstances, based on the analysis of any restrictions on redemption of Main Street’s investment as of the measurement date, recent actual sales or redemptions of interests in the investment fund, and expected future cash flows available to equity holders, including the rate of return on those cash flows compared to an implied market return on equity required by market participants, or other uncertainties surrounding Main Street’s ability to realize the full NAV of its interests in the investment fund.


69
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Pursuant to its internal valuation process and the requirements under the 1940 Act, Main Street performs valuation procedures on each of its portfolio investments quarterly. In addition to its internal valuation process, in arriving at estimates of fair value for its investments in its LMM portfolio companies, Main Street, among other things, consults with a nationally recognized independent financial advisory services firm (the “Financial Advisory Firm”). The Financial Advisory Firm analyzes and provides observations, recommendations and an assurance certification regarding Main Street’s determinations of the fair value of its LMM portfolio company investments. The Financial Advisory Firm is generally consulted relative to Main Street’s investments in each LMM portfolio company at least once every calendar year, and for Main Street’s investments in new LMM portfolio companies, at least once in the twelve-month period subsequent to the initial investment. In certain instances, Main Street may determine that it is not cost-effective, and as a result is not in its stockholders’ best interest, to consult with the Financial Advisory Firm on its investments in one or more LMM portfolio companies. Such instances include, but are not limited to, situations where the fair value of Main Street’s investment in a LMM portfolio company is determined to be insignificant relative to the total Investment Portfolio. Main Street consulted with and received an assurance certification from the Financial Advisory Firm in arriving at its determination of fair value for its investments in a total of 19 LMM portfolio companies as of both June 30, 2026 and 2025, representing 21% and 23% of the total LMM portfolio at fair value as of June 30, 2026 and 2025, respectively. A total of 73 LMM portfolio companies were reviewed and certified by the Financial Advisory Firm as of the end of a fiscal quarter during the trailing twelve months ended June 30, 2026, representing 92% of the total LMM portfolio at fair value as of June 30, 2026. Excluding its investments in LMM portfolio companies that, as of June 30, 2026, had not been in the Investment Portfolio for at least twelve months subsequent to the initial investment or whose primary purpose is to own real estate for which a third-party appraisal is obtained on at least an annual basis, 96% of the LMM portfolio at fair value was reviewed and certified by the Financial Advisory Firm during the trailing twelve months ended June 30, 2026.
For valuation purposes, all of Main Street’s Private Loan portfolio investments are non-control investments. For Private Loan portfolio investments for which it has determined that third-party quotes or other independent pricing are not available or appropriate, Main Street generally estimates the fair value based on the assumptions that it believes hypothetical market participants would use to value such Private Loan debt investments in a current hypothetical sale using the Yield-to-Maturity valuation method and such Private Loan equity investments in a current hypothetical sale using the Waterfall valuation method.
In addition to its internal valuation process, in arriving at estimates of fair value for its investments in its Private Loan portfolio companies, Main Street, among other things, consults with the Financial Advisory Firm. The Financial Advisory Firm analyzes and provides observations, recommendations and an assurance certification regarding Main Street’s determinations of the fair value of its Private Loan portfolio company investments. The Financial Advisory Firm is generally consulted relative to Main Street’s investments in each Private Loan portfolio company at least once every calendar year, and for Main Street’s investments in new Private Loan portfolio companies, at least once in the twelve-month period subsequent to the initial investment. In certain instances, Main Street may determine that it is not cost-effective, and as a result is not in its stockholders’ best interest, to consult with the Financial Advisory Firm on its investments in one or more Private Loan portfolio companies. Such instances include, but are not limited to, situations where the fair value of Main Street’s investment in a Private Loan portfolio company is determined to be insignificant relative to the total Investment Portfolio. Main Street consulted with and received an assurance certification from the Financial Advisory Firm in arriving at its determination of fair value for its investments in a total of 18 and 19 Private Loan portfolio companies as of June 30, 2026 and 2025, respectively, representing 26% of the total Private Loan portfolio at fair value as of both June 30, 2026 and 2025. A total of 65 Private Loan portfolio companies were reviewed and certified by the Financial Advisory Firm as of the end of a fiscal quarter during the trailing twelve months ended June 30, 2026, representing 92% of the total Private Loan portfolio at fair value as of June 30, 2026. Excluding its investments in Private Loan portfolio companies that, as of June 30, 2026, had not been in the Investment Portfolio for at least twelve months subsequent to the initial investment, 98% of the Private Loan portfolio at fair value was reviewed and certified by the Financial Advisory Firm during the trailing twelve months ended June 30, 2026.


70
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


For valuation purposes, all of Main Street’s Middle Market portfolio investments are non-control investments. To the extent sufficient observable inputs are available to determine fair value, Main Street uses observable inputs to determine the fair value of these investments through obtaining third-party quotes or other independent pricing. For Middle Market portfolio investments for which it has determined that third-party quotes or other independent pricing are not available or appropriate, Main Street generally estimates the fair value based on the assumptions that it believes hypothetical market participants would use to value such Middle Market debt investments in a current hypothetical sale using the Yield-to-Maturity valuation method and such Middle Market equity investments in a current hypothetical sale using the Waterfall valuation method. Main Street generally consults on a limited basis with the Financial Advisory Firm in connection with determining the fair value of its Middle Market portfolio investments due to the nature of these investments. The vast majority (92% and 95% as of June 30, 2026 and December 31, 2025, respectively) of the Middle Market portfolio investments (i) are valued using third-party quotes or other independent pricing services or (ii) Main Street has consulted with and received an assurance certification from the Financial Advisory Firm within the last twelve months.
For valuation purposes, Main Street’s short-term portfolio investments have historically been comprised of non-control investments. To the extent sufficient observable inputs are available to determine fair value, Main Street uses observable inputs to determine the fair value of these investments through obtaining third-party quotes or other independent pricing. Because any short-term portfolio investments are typically valued using third-party quotes or other independent pricing services, Main Street generally does not consult with any financial advisory services firms in connection with determining the fair value of its short-term portfolio investments.
For valuation purposes, all of Main Street’s Other Portfolio investments are non-control investments. Main Street’s Other Portfolio investments comprised 2.5% and 2.4% of Main Street’s Investment Portfolio at fair value as of June 30, 2026 and December 31, 2025, respectively. Similar to the LMM investment portfolio, market quotations for Other Portfolio equity investments are generally not readily available. For its Other Portfolio equity investments, Main Street generally determines the fair value of these investments using the NAV valuation method.
For valuation purposes, Main Street’s investment in the External Investment Manager is a control investment. Market quotations are not readily available for this investment, and as a result, Main Street determines the fair value of the External Investment Manager using the Waterfall valuation method under the market approach. In estimating the enterprise value, Main Street analyzes various factors, including the entity’s historical and projected financial results, as well as its size, marketability and performance relative to the population of market comparables, and the valuations for comparable publicly traded companies and private transactions involving comparable companies. This valuation approach estimates the value of the investment as if Main Street were to sell, or exit, the investment. In addition, Main Street considers its ability to control the capital structure of the company, as well as the timing of a potential exit, in connection with determining the fair value of the External Investment Manager. Main Street consults with and receives an assurance certification from the Financial Advisory Firm in arriving at its determination of fair value for its investment in the External Investment Manager on a quarterly basis, including as of June 30, 2026 and December 31, 2025.
Due to the inherent uncertainty in the valuation process, Main Street’s determination of fair value for its Investment Portfolio may differ materially from the values that would have been determined had a ready market for the securities existed. In addition, changes in the market environment, portfolio company performance and other events that may occur over the lives of the investments may cause the gains or losses ultimately realized on these investments to be materially different than the valuations currently assigned. Main Street determines the fair value of each individual investment and records changes in fair value as unrealized appreciation or depreciation.
Main Street uses an internally developed portfolio investment rating system in connection with its investment oversight, portfolio management and analysis and investment valuation procedures for its LMM, Private Loan and Middle Market portfolio companies. This system takes into account both quantitative and qualitative factors of each LMM, Private Loan and Middle Market portfolio company.


71
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Rule 2a-5 under the 1940 Act permits a BDC’s board of directors to designate its executive officers or investment adviser as a valuation designee to determine the fair value for its investment portfolio, subject to the active oversight of the board. Main Street’s Board of Directors has approved policies and procedures pursuant to Rule 2a-5 (the “Valuation Procedures”) and has designated a group of its executive officers to serve as the Board of Directors’ valuation designee. Main Street believes its Investment Portfolio as of June 30, 2026 and December 31, 2025 approximates fair value as of those dates based on the markets in which it operates and other conditions in existence on those reporting dates.
2.Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results may differ from these estimates under different conditions or assumptions. Additionally, as explained in Note B.1. — Summary of Significant Accounting Policies — Valuation of the Investment Portfolio, the consolidated financial statements include investments in the Investment Portfolio whose values have been estimated by Main Street, pursuant to the Valuation Procedures, in the absence of readily ascertainable market values. Because of the inherent uncertainty of the Investment Portfolio valuations, those estimated values may differ materially from the values that would have been determined had a ready market for the securities existed.
Macroeconomic factors, including pandemics, risk of recession, inflation, supply chain constraints or disruptions, geopolitical disruptions, uncertainty with respect to the imposition of tariffs on and trade disputes with certain countries and changing market index interest rates, and the related effect on the U.S. and global economies, have impacted, and may continue to impact, the businesses and operating results of certain of Main Street’s portfolio companies. As a result of these and other current effects of macroeconomic factors, as well as the uncertainty regarding the extent and duration of their impact, the valuation of Main Street’s Investment Portfolio has and may continue to experience increased volatility.
3.Cash and Cash Equivalents
Cash and cash equivalents consist of cash and highly liquid investments with an original maturity of three months or less at the date of purchase. Cash and cash equivalents are carried at cost, which approximates fair value. As of June 30, 2026 and December 31, 2025, the Company had $3.8 million and $3.2 million, respectively, of cash equivalents invested in AAA-rated money market funds pending investment in the Company’s primary investment strategies. These highly liquid investments are included in the Consolidated Schedule of Investments.
As of June 30, 2026 and December 31, 2025, cash balances totaling $51.9 million and $35.4 million, respectively, exceeded Federal Deposit Insurance Corporation insurance protection levels, subjecting the Company to risk related to the uninsured balance.
4.Interest, Dividend and Fee Income
Main Street records interest and dividend income on the accrual basis to the extent amounts are expected to be collected. Dividend income is recorded when dividends are declared by the portfolio company or at such other time that an obligation exists for the portfolio company to make a distribution. Main Street evaluates accrued interest and dividend income periodically for collectability. When a loan or debt security becomes 90 days or more past due, and if Main Street otherwise does not expect the debtor to be able to service its debt obligation, Main Street will generally place the loan or debt security on non-accrual status and cease recognizing interest income on that loan or debt security until the borrower has demonstrated the ability and intent to pay contractual amounts due. If a loan or debt security’s status significantly improves regarding the debtor’s ability to service the debt obligation, or if a loan or debt security is repaid, sold or written off, Main Street removes it from non-accrual status. Generally, any interest payments received from investments on non-accrual status reduce the cost basis of the investment and are not recorded as income.
As of June 30, 2026, investments on non-accrual status were $65.2 million at fair value and $198.5 million at cost and comprised 1.1% and 4.0% of Main Street’s total Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, investments on non-accrual status were $56.3 million at fair value and $155.3 million at cost and comprised 1.0% and 3.3% of Main Street’s total Investment Portfolio at fair value and cost, respectively.


72
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Main Street holds certain debt and preferred equity instruments in its Investment Portfolio that contain PIK interest and cumulative dividend provisions. The PIK interest, computed at the contractual rate specified in each debt agreement, is periodically added to the principal balance of the debt and is recorded as interest income. Thus, the actual collection of this interest may be deferred until the time of debt principal repayment. Cumulative dividends are recorded as dividend income, and any dividends in arrears are added to the balance of the preferred equity investment. The actual collection of these dividends in arrears may be deferred until such time as the preferred equity is redeemed or sold. To maintain RIC tax treatment (see Note B.10. — Summary of Significant Accounting Policies — Income Taxes below), these non-cash sources of income may need to be paid out to stockholders in the form of distributions, even though Main Street may not have collected the PIK interest and cumulative dividends in cash. Main Street stops accruing PIK interest and cumulative dividends and writes off any accrued and uncollected interest and dividends in arrears when it determines that such PIK interest and dividends in arrears are no longer collectible. For the three months ended June 30, 2026 and 2025, (i) 2.9% and 2.3%, respectively, of Main Street’s total investment income was attributable to PIK interest income not paid currently in cash and (ii) 0.7% and 0.9%, respectively, of Main Street’s total investment income was attributable to cumulative dividend income not paid currently in cash. For the six months ended June 30, 2026 and 2025, 2.8% and 2.6%, respectively, of Main Street’s total investment income was attributable to PIK interest income not paid currently in cash. For each of the six months ended June 30, 2026 and 2025, 0.7% of Main Street’s total investment income was attributable to cumulative dividend income not paid currently in cash.
Main Street may periodically provide services, including structuring and advisory services, to its portfolio companies or other third parties. For services that are separately identifiable and evidence exists to substantiate fair value, fee income is recognized as earned, which is generally when the investment or other applicable transaction closes. Fees received in connection with debt financing transactions for services that do not meet these criteria are treated as debt origination fees and are generally deferred and accreted into income over the life of the financing.
A summarized presentation of total investment income Main Street earned from its Investment Portfolio in each of the periods presented is as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(in thousands)
Interest, dividend and fee income:
Interest income$112,633 $100,857 $217,939 $198,874 
Dividend income27,398 37,845 55,594 73,871 
Fee income9,541 5,271 16,145 8,274 
Total investment income$149,572 $143,973 $289,678 $281,019 
5.Deferred Financing Costs
Deferred financing costs include commitment fees and other direct costs related to Main Street’s Credit Facilities (as defined in Note E — Debt) and its unsecured notes, as well as the commitment fees and leverage fees (3.4% of the total commitment and draw amounts, as applicable) on the SBIC debentures. See further discussion of Main Street’s debt in Note E — Debt. Deferred financing costs incurred in connection with the Credit Facilities are capitalized as an asset. Deferred financing costs incurred in connection with all other debt arrangements are reflected as a direct deduction from the principal amount outstanding.
6.Equity Offering Costs
The Company’s offering costs are charged against the proceeds from equity offerings when the proceeds are received.


73
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


7.Unearned Income—Debt Origination Fees and Original Issue Discount and Discounts / Premiums to Par Value
Main Street capitalizes debt origination fees received in connection with financings and reflects such fees as unearned income netted against the applicable debt investments. The unearned income from the fees is accreted into income over the life of the financing.
In connection with its portfolio debt investments, Main Street sometimes receives nominal cost warrants or warrants with an exercise price below the fair value of the underlying equity (together, “nominal cost equity”) that are valued as part of the negotiation process with the particular portfolio company. When Main Street receives nominal cost equity, it allocates its cost basis in its investment between its debt security and its nominal cost equity at the time of origination based on amounts negotiated with the particular portfolio company. The allocated amounts are based upon the fair value of the nominal cost equity, which is then used to determine the allocation of cost to the debt security. Any discount recorded on a debt investment resulting from this allocation is reflected as unearned income, which is netted against the applicable debt investment, and accreted into interest income over the life of the debt investment. The actual collection of this interest is deferred until the time of debt principal repayment.
Main Street may also purchase debt securities at a discount or at a premium to the par value of the debt security. In the case of a purchase at a discount, Main Street records the investment at the par value of the debt security net of the discount, and the discount is accreted into interest income over the life of the debt investment. In the case of a purchase at a premium, Main Street records the investment at the par value of the debt security plus the premium, and the premium is amortized as a reduction to interest income over the life of the debt investment.
To maintain RIC tax treatment (see Note B.10. — Summary of Significant Accounting Policies — Income Taxes below), these non-cash sources of income may need to be paid out to stockholders in the form of distributions, even though Main Street may not have collected the interest income. For the three months ended June 30, 2026 and 2025, 1.6% and 1.7%, respectively, of Main Street’s total investment income was attributable to interest income from the accretion of discounts associated with debt investments, net of any premium amortization. For the six months ended June 30, 2026 and 2025, 1.6% and 1.7%, respectively, of Main Street’s total investment income was attributable to interest income from the accretion of discounts associated with debt investments, net of any premium amortization.
8.Share-Based Compensation
Main Street accounts for its share-based compensation plans using the fair value method, as prescribed by ASC 718, Compensation—Stock Compensation. Accordingly, for restricted stock awards, Main Street measures the grant date fair value based upon the market price of its common stock on the date of the grant and amortizes the fair value of the awards as share-based compensation expense over the requisite service period, which is generally the vesting term.
Main Street recognizes all excess tax benefits and tax deficiencies associated with share-based compensation (including tax benefits of dividends on share-based payment awards) as tax expense or benefit in the income statement and does not delay recognition of a tax benefit until the tax benefit is realized through a reduction to taxes payable. As such, the tax effects of exercised or vested awards are recorded during the taxable year in which they occur. Additionally, Main Street has elected to account for forfeitures as they occur.
9.Deferred Compensation Plan
Main Street’s Nonqualified Supplemental Deferred Compensation Plan (the “Deferred Compensation Plan”) allows directors and certain employees to defer receipt of some or all of their cash compensation or directors’ fees in accordance with the terms of the Deferred Compensation Plan. Deferred Compensation Plan participants elect one or more investment options, including phantom Main Street stock units, interests in affiliated funds and various mutual funds, where their deferred amounts are notionally invested, and Main Street invests the deferred amounts through a trust (except for phantom Main Street stock units), pending distribution.


74
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Compensation deferred under the Deferred Compensation Plan is recognized on the same basis as such compensation would have been recognized if not deferred. The appreciation (depreciation) in the fair value of Deferred Compensation Plan assets is reflected in Main Street's Consolidated Statements of Operations as unrealized appreciation (depreciation), with the recognition of a corresponding and offsetting deferred compensation expense or (benefit), respectively. Deferred compensation expense or (benefit) does not result in a net cash impact to Main Street upon settlement. Investments in the trust are recognized on the Consolidated Balance Sheets as an asset of Main Street (other assets) and as a deferred compensation liability (other liabilities).
Phantom Main Street stock units under the Deferred Compensation Plan are not issued shares of Main Street common stock and are not included as outstanding on the Consolidated Statements of Changes in Net Assets until such shares are actually distributed to the participant, but the related phantom stock units are included in weighted-average shares outstanding with the related dollar amount of the deferral included in total expenses in Main Street’s Consolidated Statements of Operations as the deferred fees or compensation represented by such phantom stock units are earned over the service period. Additional phantom stock units from dividends on phantom stock units are included in the Consolidated Statements of Changes in Net Assets as an increase to dividends to stockholders offset by a corresponding increase to additional paid-in capital.
10.Income Taxes
MSCC has elected to be treated for U.S. federal income tax purposes as a RIC. MSCC’s taxable income includes the taxable income generated by MSCC and certain of its subsidiaries, including the Funds and Structured Subsidiaries, which are treated as disregarded entities for tax purposes. As a RIC, MSCC generally will not pay corporate-level U.S. federal income taxes on any net ordinary taxable income or capital gains that MSCC distributes to its stockholders. MSCC must generally distribute at least 90% of its “investment company taxable income” (which is generally its net ordinary taxable income and realized net short-term capital gains in excess of realized net long-term capital losses) and 90% of its tax-exempt income to maintain its RIC status (pass-through tax treatment for amounts distributed). As part of maintaining RIC status, undistributed taxable income (subject to a 4% non-deductible U.S. federal excise tax) pertaining to a given fiscal year may be distributed up to twelve months subsequent to the end of that fiscal year, provided such dividends are declared on or prior to the later of (i) the filing of the U.S. federal income tax return for the applicable fiscal year or (ii) the fifteenth day of the ninth month following the close of the year in which such taxable income was generated.
The Taxable Subsidiaries primarily hold certain equity investments for Main Street. The Taxable Subsidiaries permit Main Street to hold equity investments in portfolio companies which are “pass-through” entities for tax purposes and to continue to comply with the “source-of-income” requirements contained in the RIC tax provisions of the Code. The Taxable Subsidiaries are consolidated with Main Street for U.S. GAAP financial reporting purposes, and the portfolio investments held by the Taxable Subsidiaries are included in Main Street’s consolidated financial statements as portfolio investments and recorded at fair value. The Taxable Subsidiaries are not consolidated with MSCC for income tax purposes and may generate income tax expense, or benefit, and tax assets and liabilities, as a result of their ownership of certain portfolio investments. The taxable income, or loss, of the Taxable Subsidiaries may differ from their book income, or loss, due to temporary book and tax timing differences and permanent differences. The Taxable Subsidiaries are each taxed at corporate income tax rates based on their taxable income. The income tax expense, or benefit, if any, and the related tax assets and liabilities, of the Taxable Subsidiaries are reflected in Main Street’s consolidated financial statements.
The External Investment Manager is an indirect wholly-owned subsidiary of MSCC owned through a Taxable Subsidiary and is a disregarded entity for tax purposes. The External Investment Manager has entered into a tax sharing agreement with its Taxable Subsidiary owner. Since the External Investment Manager is accounted for as a portfolio investment of MSCC and is not included as a consolidated subsidiary of MSCC in MSCC’s consolidated financial statements, and as a result of the tax sharing agreement with its Taxable Subsidiary owner, for its stand-alone financial reporting purposes the External Investment Manager is treated as if it is taxed at corporate income tax rates based on its taxable income and, as a result of its activities, may generate income tax expense or benefit. The income tax expense, or benefit, if any, and the related tax assets and liabilities, of the External Investment Manager are reflected in the External Investment Manager’s separate financial statements.


75
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


The Taxable Subsidiaries and the External Investment Manager use the liability method in accounting for income taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements, using statutory tax rates in effect for the year in which the temporary differences are expected to reverse. A valuation allowance is provided, if necessary, against deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Main Street’s net assets as included on the Consolidated Balance Sheets and Consolidated Statements of Changes in Net Assets include an adjustment to classification as a result of permanent book-to-tax differences, which include differences in the book and tax treatment of income and expenses.
Taxable income generally differs from net income for financial reporting purposes due to temporary and permanent differences in the recognition of income and expenses. Taxable income generally excludes net unrealized appreciation or depreciation, as investment gains or losses are not included in taxable income until they are realized.
11.Net Realized Gains or Losses and Net Unrealized Appreciation or Depreciation
Realized gains or losses are measured by the difference between the net proceeds from the sale or redemption of an investment or a financial instrument and the cost basis of the investment or financial instrument, without regard to unrealized appreciation or depreciation previously recognized, and includes investments written-off during the period net of recoveries and realized gains or losses from in-kind redemptions. Net unrealized appreciation or depreciation reflects the net change in the fair value of the Investment Portfolio and financial instruments and the reclassification of any prior period unrealized appreciation or depreciation on exited investments and financial instruments to realized gains or losses.
12.Fair Value of Financial Instruments
Fair value estimates are made at discrete points in time based on relevant information. These estimates may be subjective in nature and involve uncertainties and matters of significant judgment and, therefore, cannot be determined with precision. Main Street believes that the carrying amounts of its financial instruments, consisting of cash and cash equivalents, receivables, payables and other liabilities approximate the fair values of such items due to the short-term nature of these instruments.
Main Street’s debt instruments, including all revolving and term debt, are accounted for on a historical cost basis as applicable under U.S. GAAP. As also required under U.S. GAAP, Main Street discloses the estimated fair value of its debt obligations in Note E — Debt. To estimate the fair value of Main Street’s multiple tranches of unsecured debt instruments as disclosed in Note E — Debt, Main Street uses quoted market prices. For the estimated fair value of Main Street’s SBIC debentures, Main Street uses the Yield-to-Maturity valuation method based on projections of the discounted future free cash flows that the debt security will likely generate, including both the discounted cash flows of the associated interest and principal amounts for the debt security. The inputs used to value Main Street’s debt instruments for purposes of the fair value estimate disclosures in Note E — Debt are considered to be Level 2 according to the ASC 820 fair value hierarchy.
13.Earnings Per Share
Basic and diluted per share calculations, including net increase in net assets resulting from operations per share and net investment income per share, are computed utilizing the weighted-average number of shares of common stock outstanding for the period. In accordance with ASC 260, Earnings Per Share, the unvested shares of restricted stock awarded pursuant to Main Street’s equity compensation plans are participating securities and, therefore, are included in the basic earnings per share calculation. As a result, for all periods presented, there is no difference between diluted earnings per share and basic earnings per share amounts.
14.Segments
Main Street operates as a single segment with a principal investment objective to maximize total return by generating current income from debt investments and current income and capital appreciation from equity and equity-related investments. The Company’s Investment Committee and Chief Executive Officer collectively perform the function that allocates resources and assesses performance, and thus together, serve as the Company’s chief operating decision maker (the “CODM”). Among other metrics, the CODM uses net investment income as a primary U.S. GAAP profit or loss metric used in making operating decisions, which can be found on the Consolidated Statement of Operations along with significant expenses. The measure of segment assets is reported on the Consolidated Balance Sheets as total assets.


76
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


15.Recently Issued or Adopted Accounting Standards
From time to time, new accounting pronouncements are issued by the FASB or other standards-setting bodies that are adopted by the Company as of the specified effective date. The Company believes that the impact of recently issued standards and any that are not yet effective will not have a material impact on its consolidated financial statements upon adoption.
NOTE C — FAIR VALUE HIERARCHY FOR INVESTMENTS — PORTFOLIO COMPOSITION
ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value, and enhances disclosure requirements for fair value measurements. Main Street accounts for its investments at fair value.
Fair Value Hierarchy
In accordance with ASC 820, Main Street has categorized its investments based on the priority of the inputs to the valuation technique into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical investments (Level 1) and the lowest priority to unobservable inputs (Level 3).
Investments recorded on Main Street’s Consolidated Balance Sheets are categorized based on the inputs to the valuation techniques as follows:
Level 1—Investments whose values are based on unadjusted quoted prices for identical assets in an active market that Main Street has the ability to access (examples include investments in active exchange-traded equity securities and investments in most U.S. government and agency securities).
Level 2—Investments whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the investment. Level 2 inputs include the following:
•Quoted prices for similar assets in active markets (for example, investments in restricted stock);
•Quoted prices for identical or similar assets in non-active markets (for example, investments in thinly traded public companies);
•Pricing models whose inputs are observable for substantially the full term of the investment (for example, market interest rate indices); and
•Pricing models whose inputs are derived principally from, or corroborated by, observable market data through correlation or other means for substantially the full term of the investment.
Level 3—Investments whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement (for example, investments in illiquid securities issued by privately held companies). These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the investment.
As required by ASC 820, when the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a Level 3 fair value measurement may include inputs that are observable (Levels 1 and 2) and unobservable (Level 3). Therefore, unrealized appreciation and depreciation related to such investments categorized within the Level 3 tables below may include changes in fair value that are attributable to both observable inputs (Levels 1 and 2) and unobservable inputs (Level 3).
As of June 30, 2026 and December 31, 2025, all of Main Street’s LMM portfolio investments consisted of illiquid securities issued by privately held companies and the fair value determination for these investments primarily consisted of unobservable inputs. As a result, all of Main Street’s LMM portfolio investments were categorized as Level 3 as of June 30, 2026 and December 31, 2025.


77
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


As of June 30, 2026 and December 31, 2025, all of Main Street’s Private Loan portfolio investments consisted of illiquid securities issued by privately held companies. The fair value determination for these investments consisted of a combination of observable inputs in non-active markets for which sufficient observable inputs were not available to determine the fair value of these investments and unobservable inputs. As a result, all of Main Street’s Private Loan portfolio investments were categorized as Level 3 as of June 30, 2026 and December 31, 2025.
As of June 30, 2026 and December 31, 2025, Main Street’s Middle Market portfolio investments consisted primarily of investments in secured and unsecured debt investments and independently rated debt investments. The fair value determination for these investments consisted of a combination of observable inputs in non-active markets for which sufficient observable inputs were not available to determine the fair value of these investments and unobservable inputs. As a result, all of Main Street’s Middle Market portfolio investments were categorized as Level 3 as of June 30, 2026 and December 31, 2025.
As of June 30, 2026 and December 31, 2025, Main Street’s Other Portfolio investments consisted primarily of illiquid securities issued by privately held entities and the fair value determination for these investments primarily consisted of unobservable inputs. Main Street also has an equity investment in MSC Income Fund, Inc. (“MSC Income”), which is a publicly traded company. Therefore, as of June 30, 2026 and December 31, 2025, the equity investment in MSC Income was categorized as a Level 1 investment. The remainder of Main Street’s Other Portfolio investments were categorized as Level 3 as of June 30, 2026 and December 31, 2025.
As of June 30, 2026 and December 31, 2025, Main Street did not hold any short-term portfolio investments.
As of June 30, 2026 and December 31, 2025, all money market funds included in cash and cash equivalents were valued using Level 1 inputs.
The fair value determination of each portfolio investment categorized as Level 3 required one or more of the following unobservable inputs:
•Financial information obtained from each portfolio company, including unaudited statements of operations and balance sheets for the most recent period available as compared to budgeted financial information;
•Current and projected financial condition of the portfolio company;
•Current and projected ability of the portfolio company to service its debt obligations;
•Type and amount of collateral, if any, underlying the investment;
•Current financial ratios (e.g., fixed charge coverage ratio, interest coverage ratio and net debt/EBITDA ratio) applicable to the investment;
•Current liquidity of the investment and related financial ratios (e.g., current ratio and quick ratio);
•Pending debt or capital restructuring of the portfolio company;
•Projected operating results of the portfolio company;
•Current information regarding any offers to purchase the investment;
•Current ability of the portfolio company to raise any additional financing as needed;
•Changes in the economic environment which may have a material impact on the operating results of the portfolio company;
•Internal occurrences that may have an impact (both positive and negative) on the operating performance of the portfolio company;
•Qualitative assessment of key management;


78
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


•Contractual rights, obligations or restrictions associated with the investment; and
•Other factors deemed relevant.
The use of significant unobservable inputs creates uncertainty in the measurement of fair value as of the reporting date. The significant unobservable inputs used in the fair value measurement of Main Street’s LMM equity securities, which are generally valued through an average of the discounted cash flow technique and the market comparable/enterprise value technique (unless one of these approaches is determined to not be appropriate), are (i) EBITDA multiples and (ii) the weighted-average cost of capital (“WACC”). Significant increases (decreases) in EBITDA multiple inputs in isolation would result in a significantly higher (lower) fair value measurement, and significant increases (decreases) in WACC inputs in isolation would result in a significantly lower (higher) fair value measurement. The significant unobservable inputs used in the fair value measurement of Main Street’s LMM, Private Loan and Middle Market debt securities are (i) risk adjusted discount rates used in the Yield-to-Maturity valuation technique (see Note B.1. — Summary of Significant Accounting Policies — Valuation of the Investment Portfolio) and (ii) the percentage of expected principal recovery. Significant increases (decreases) in any of these discount rates in isolation would result in a significantly lower (higher) fair value measurement. Significant increases (decreases) in any of these expected principal recovery percentages in isolation would result in a significantly higher (lower) fair value measurement. However, due to the nature of certain investments, fair value measurements may be based on other criteria, such as third-party appraisals of collateral and fair values as determined by independent third parties, which are not presented in the tables below.
A summary of the significant unobservable inputs used in the fair value measurement of Main Street’s Level 3 portfolio investments as of June 30, 2026 and December 31, 2025 is as follows:
Type of Investment
Fair Value as of June 30, 2026
(in thousands)
Valuation TechniqueSignificant Unobservable InputsRange (4)Weighted-Average (4)(5)Median (4)
Equity investments$1,935,551 Discounted cash flowWACC
9.2% - 23.4%
14.5%15.1%
Market comparable / Enterprise valueEBITDA multiple (1) (3)
4.3x - 9.4x (2)
7.2x6.8x
Debt investments$3,777,203 Discounted cash flowRisk adjusted discount rate (6)
7.9% - 18.0% (2)
11.5%11.3%
Expected principal recovery percentage
0.0% - 500.0%
99.3%100.0%
Debt investments$9,858 Market approachThird-party quote
14.5 - 78.5
74.846.5
Total Level 3 investments$5,722,612 
___________________________
(1)EBITDA may include pro forma adjustments and/or other add-backs based on specific circumstances related to each investment.
(2)Range excludes outliers that are greater than one standard deviation from the mean. Including these outliers, the range for EBITDA multiple is 2.0x - 16.6x and the range for risk adjusted discount rate is 6.6% - 34.6%.
(3)The fair value determination of the equity investment in the External Investment Manager is based on a fee multiple of 7.4x, which represents a discounted, blended multiple based on (i) the multiples for similar businesses in active markets and (ii) actual multiples used in private transactions.
(4)Does not include investments for which the valuation technique does not include the use of the applicable fair value input.
(5)Weighted-Average is calculated for each significant unobservable input based on the applicable security’s fair value.
(6)Discount rate includes the effect of the standard SOFR base rate, as applicable.


79
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Type of Investment
Fair Value as of December 31, 2025
(in thousands)
Valuation TechniqueSignificant Unobservable InputsRange (4)Weighted-Average (4)(5)Median (4)
Equity investments$1,889,374 Discounted cash flowWACC
9.4% - 22.7%
14.4%15.0%
Market comparable / Enterprise valueEBITDA multiple (1) (3)
5.0x - 9.0x (2)
7.3x6.5x
Debt investments$3,596,989 Discounted cash flowRisk adjusted discount rate (6)
8.0% - 18.3% (2)
11.7%11.5%
Expected principal recovery percentage
0.0% - 500.0%
99.5%100.0%
Debt investments$10,342 Market approachThird-party quote
14.5 - 63.0
52.240.8
Total Level 3 investments$5,496,705 
___________________________
(1)EBITDA may include pro forma adjustments and/or other add-backs based on specific circumstances related to each investment.
(2)Range excludes outliers that are greater than one standard deviation from the mean. Including these outliers, the range for EBITDA multiple is 1.2x - 16.0x and the range for risk adjusted discount rate is 5.4% - 40.4%.
(3)The fair value determination of the equity investment in the External Investment Manager is based on a fee multiple of 7.8x, which represents a discounted, blended multiple based on (i) the multiples for similar businesses in active markets and (ii) actual multiples used in private transactions.
(4)Does not include investments for which the valuation technique does not include the use of the applicable fair value input.
(5)Weighted-Average is calculated for each significant unobservable input based on the applicable security’s fair value.
(6)Discount rate includes the effect of the standard SOFR base rate, as applicable.


80
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


A summary of changes in the fair value of Main Street’s Level 3 portfolio investments for the six months ended June 30, 2026 and 2025 is as follows (in thousands):
Type of Investment
Fair Value as of December 31, 2025
Transfers Into (Out of) Level 3 HierarchyRedemptions/ RepaymentsNew InvestmentsNet Changes from Unrealized to RealizedNet Unrealized Appreciation (Depreciation)Other (1)
Fair Value as of June 30, 2026
Net Change in Unrealized Appreciation (Depreciation) for the Six Months Ended June 30, 2026 on Assets Still Held
Debt$3,607,331 $— $(466,218)$686,358 $8,839 $(44,338)$(4,911)$3,787,061 $(43,023)
Equity1,858,205 — (35,440)60,490 (63,956)81,832 4,911 1,906,042 72,824 
Equity Warrant31,169 — — — — (1,660)— 29,509 (1,660)
$5,496,705 $— $(501,658)$746,848 $(55,117)$35,834 $— $5,722,612 $28,141 
___________________________
(1)Includes the impact of non-cash conversions. These transactions represent non-cash investing activities. See additional cash flow information in the Consolidated Statements of Cash Flows.
Type of Investment
Fair Value as of December 31, 2024
Transfers Into (Out of) Level 3 HierarchyRedemptions/ RepaymentsNew InvestmentsNet Changes from Unrealized to RealizedNet Unrealized Appreciation (Depreciation)Other (1)
Fair Value as of June 30, 2025
Net Change in Unrealized Appreciation (Depreciation) for the Six Months Ended June 30, 2025 on Assets Still Held
Debt$3,278,365 $— $(514,216)$575,433 $38,415 $(19,812)$(30,773)$3,327,412 $(9,904)
Equity1,637,181 (16,810)(30,679)80,309 (65,185)83,449 30,773 1,719,038 18,553 
Equity Warrant17,123 — — — — 7,940 — 25,063 7,940 
$4,932,669 $(16,810)$(544,895)$655,742 $(26,770)$71,577 $— $5,071,513 $16,589 
___________________________
(1)Includes the impact of non-cash conversions. These transactions represent non-cash investing activities. See additional cash flow information in the Consolidated Statements of Cash Flows.


81
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


As of June 30, 2026 and December 31, 2025, Main Street’s investments at fair value were categorized as follows in the fair value hierarchy for ASC 820 purposes:
Fair Value Measurements
(in thousands)
June 30, 2026
Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
LMM portfolio investments$3,205,604 $— $— $3,205,604 
Private Loan portfolio investments2,090,873 — — 2,090,873 
Middle Market portfolio investments83,116 — — 83,116 
Other Portfolio investments141,251 23,432 — 117,819 
External Investment Manager225,200 — — 225,200 
Total investments$5,746,044 $23,432 $— $5,722,612 
Fair Value Measurements
(in thousands)
December 31, 2025
Fair ValueQuoted Prices in
Active Markets for
Identical Assets
(Level 1)		Significant Other
Observable Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)
LMM portfolio investments$3,057,023 $— $— $3,057,023 
Private Loan portfolio investments1,988,438 — — 1,988,438 
Middle Market portfolio investments83,498 — — 83,498 
Other Portfolio investments134,138 21,412 — 112,726 
External Investment Manager255,020 — — 255,020 
Total investments$5,518,117 $21,412 $— $5,496,705 
Investment Portfolio Composition
Main Street’s principal investment objective is to maximize its portfolio’s total return by generating current income from its debt investments and current income and capital appreciation from its equity and equity-related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company. Main Street seeks to achieve its investment objective primarily through its LMM and Private Loan investment strategies.
Main Street’s LMM investment strategy is focused on investments in secured debt and equity investments in privately held, LMM companies based in the U.S. Main Street’s LMM portfolio companies generally have annual revenues between $10 million and $150 million, and its LMM investments generally range in size from $5 million to $125 million. The LMM debt investments are generally secured by a first priority lien on the assets of the portfolio company, can include either fixed or floating interest rates and generally have a term of between five and seven years from the original investment date. Main Street typically makes direct equity investments and/or receives nominally priced equity warrants in connection with a LMM portfolio company debt investment.


82
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Main Street’s Private Loan investment strategy is focused on investments in secured debt in privately held companies that generally have annual revenues between $25 million and $500 million, and its Private Loan investments generally range in size from $10 million to $100 million. Main Street’s Private Loan investments primarily consist of debt securities that have primarily been originated directly by Main Street or, to a lesser extent, through its strategic relationships with other investment funds on a collaborative basis through investments that are often referred to in the debt markets as “club deals” because of the small lender group size. In both cases, Main Street’s Private Loan investments are typically made in a company owned by or in the process of being acquired by a private equity fund. Main Street’s Private Loan portfolio debt investments are generally secured by a first priority lien on the assets of the portfolio company and typically have a term of between three and seven years from the original investment date. Main Street may also co-invest with the private equity fund in the equity securities of its Private Loan portfolio companies.
Main Street also maintains a legacy portfolio of investments in Middle Market companies. Main Street’s Middle Market investments are generally debt investments in companies owned by a private equity fund that were originally issued through a syndication financing process. Main Street has generally stopped making new Middle Market investments and expects the size of its Middle Market investment portfolio to continue to decline in future periods as its existing Middle Market investments are repaid or sold. Main Street’s Middle Market debt investments generally range in size from $3 million to $25 million, are generally secured by a first priority lien on the assets of the portfolio company and typically have an expected duration of between three and seven years from the original investment date.
Main Street’s Other Portfolio investments primarily consist of investments that are not consistent with the typical profiles for its LMM, Private Loan or Middle Market portfolio investments, including investments in unaffiliated investment companies and private funds which may be managed by third parties. In the Other Portfolio, Main Street may incur indirect fees and expenses in connection with investments managed by third parties, such as investments in other investment companies or private funds. For Other Portfolio investments, Main Street generally receives distributions related to the assets held by the portfolio company. Those assets are typically expected to be realized over a five to ten-year period.
Based upon Main Street’s liquidity and capital structure management activities, Main Street’s Investment Portfolio may also periodically include short-term portfolio investments that are atypical of Main Street’s LMM, Private Loan and Middle Market portfolio investments in that they are intended to be a short-term deployment of capital. Those assets are typically expected to be realized in one year or less. These short-term portfolio investments are not expected to be a significant portion of the overall Investment Portfolio.
Main Street’s external asset management business is conducted through its External Investment Manager. The External Investment Manager earns management fees based on the assets under management for External Parties and may earn incentive fees, or a carried interest, based on the performance of the assets managed. Main Street entered into an agreement with the External Investment Manager to share employees in connection with its asset management business generally, and specifically for its relationship with MSC Income and its other clients. Through this agreement, Main Street shares employees with the External Investment Manager, including their related infrastructure, business relationships, management expertise and capital raising capabilities. Main Street allocates the related expenses to the External Investment Manager pursuant to the sharing agreement. Main Street’s total expenses are net of expenses allocated to the External Investment Manager of $6.6 million and $5.9 million for the three months ended June 30, 2026 and 2025, respectively, and $12.1 million and $11.2 million for the six months ended June 30, 2026 and 2025, respectively.
Investment income, consisting of interest, dividends and fees, can fluctuate dramatically due to various factors, including the level of new investment activity, repayments of debt investments or sales of equity interests. Investment income in any given year could also be highly concentrated among several portfolio companies. For the three and six months ended June 30, 2026 and 2025, Main Street did not record investment income from any single portfolio company in excess of 10% of total investment income.


83
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


A summary of Main Street’s LMM and Private Loan portfolio investments as of June 30, 2026 and December 31, 2025 is as follows (this information excludes Middle Market portfolio investments, Other Portfolio investments and the External Investment Manager, which are discussed further below):
June 30, 2026
LMM (a)Private Loan
(dollars in millions)
Number of portfolio companies94 86 
Fair value$3,205.6 $2,090.9 
Cost$2,547.7 $2,123.5 
Debt investments as a % of portfolio (at cost)71.1 %94.3 %
Equity investments as a % of portfolio (at cost)28.9 %5.7 %
% of debt investments at cost secured by first priority lien99.4 %99.3 %
Weighted-average annual effective yield (b)12.6 %10.2 %
Average EBITDA (c)$11.8 $39.3 
___________________________
(a)As of June 30, 2026, Main Street had equity ownership in all of its LMM portfolio companies, and the average fully diluted equity ownership in those portfolio companies was 36%.
(b)The weighted-average annual effective yields were computed using the effective interest rates for all debt investments as of June 30, 2026, including amortization of deferred debt origination fees and accretion of original issue discount but excluding fees payable upon repayment of the debt investments and any debt investments on non-accrual status, and are weighted based upon the principal amount of each applicable debt investment as of June 30, 2026. The weighted-average annual effective yield on Main Street’s debt portfolio as of June 30, 2026, including debt investments on non-accrual status, was 12.1% for its LMM portfolio investments and 9.6% for its Private Loan portfolio investments. The weighted-average annual effective yield is not reflective of what an investor in shares of Main Street’s common stock will realize on their investment because it does not reflect changes in the market value of Main Street’s stock, Main Street’s utilization of debt capital in its capital structure, Main Street’s expenses or any sales load paid by an investor.
(c)The average EBITDA is calculated using a simple average for the LMM portfolio companies and a weighted-average for the Private Loan portfolio companies. These calculations exclude certain portfolio companies, including six LMM portfolio companies and five Private Loan portfolio companies, as EBITDA is not a meaningful valuation metric for Main Street’s investments in these portfolio companies, and those portfolio companies whose primary purpose is to own real estate and those portfolio companies whose primary operations have ceased and only residual value remains.
December 31, 2025
LMM (a)Private Loan
(dollars in millions)
Number of portfolio companies92 86 
Fair value$3,057.0 $1,988.4 
Cost$2,419.3 $2,014.1 
Debt investments as a % of portfolio (at cost)71.2 %93.5 %
Equity investments as a % of portfolio (at cost)28.8 %6.5 %
% of debt investments at cost secured by first priority lien99.4 %99.9 %
Weighted-average annual effective yield (b)12.5 %10.5 %
Average EBITDA (c)$11.1 $33.9 
___________________________
(a)As of December 31, 2025, Main Street had equity ownership in all of its LMM portfolio companies, and the average fully diluted equity ownership in those portfolio companies was 37%.


84
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


(b)The weighted-average annual effective yields were computed using the effective interest rates for all debt investments as of December 31, 2025, including amortization of deferred debt origination fees and accretion of original issue discount but excluding fees payable upon repayment of the debt investments and any debt investments on non-accrual status, and are weighted based upon the principal amount of each applicable debt investment as of December 31, 2025. The weighted-average annual effective yield on Main Street’s debt portfolio as of December 31, 2025, including debt investments on non-accrual status, was 12.0% for its LMM portfolio investments and 10.1% for its Private Loan portfolio investments. The weighted-average annual effective yield is not reflective of what an investor in shares of Main Street’s common stock will realize on their investment because it does not reflect changes in the market value of Main Street’s stock, Main Street’s utilization of debt capital in its capital structure, Main Street’s expenses or any sales load paid by an investor.
(c)The average EBITDA is calculated using a simple average for the LMM portfolio companies and a weighted-average for the Private Loan portfolio companies. These calculations exclude certain portfolio companies, including five LMM portfolio companies and six Private Loan portfolio companies, as EBITDA is not a meaningful valuation metric for Main Street’s investments in these portfolio companies, and those portfolio companies whose primary purpose is to own real estate and those portfolio companies whose primary operations have ceased and only residual value remains.
As of June 30, 2026, Main Street had Other Portfolio investments in 34 entities, spread across 13 investment managers, collectively totaling $141.3 million in fair value and $150.8 million in cost basis, which comprised 2.5% and 3.0% of Main Street’s Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, Main Street had Other Portfolio investments in 33 entities, spread across 13 investment managers, collectively totaling $134.1 million in fair value and $141.6 million in cost basis, which comprised 2.4% and 3.0% of Main Street’s Investment Portfolio at fair value and cost, respectively.
As of June 30, 2026, Main Street had Middle Market portfolio investments in 11 portfolio companies, collectively totaling $83.1 million in fair value and $123.1 million in cost basis, which comprised 1.4% and 2.5% of Main Street’s Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, Main Street had Middle Market portfolio investments in 11 portfolio companies, collectively totaling $83.5 million in fair value and $120.1 million in cost basis, which comprised 1.5% and 2.5% of Main Street’s Investment Portfolio at fair value and cost, respectively.
As discussed further in Note A.1. — Organization and Basis of Presentation — Organization, Main Street holds an investment in the External Investment Manager, a wholly-owned subsidiary that is treated as a portfolio investment. As of June 30, 2026, this investment had a fair value of $225.2 million and a cost basis of $29.5 million, which comprised 3.9% and 0.6% of Main Street’s Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, this investment had a fair value of $255.0 million and a cost basis of $29.5 million, which comprised 4.6% and 0.6% of Main Street’s Investment Portfolio at fair value and cost, respectively.
For the three months ended June 30, 2026 and 2025, Main Street achieved an annualized total return on investments of 17.3% and 16.4%, respectively. For the six months ended June 30, 2026 and 2025, Main Street achieved an annualized total return on investments of 13.2% and 16.2%, respectively. For the year ended December 31, 2025, Main Street achieved a total return on investments of 16.4%. Total return on investments equals the total interest, dividend and fee income plus realized and unrealized changes in the fair value of the Investment Portfolio divided by the average quarterly Investment Portfolio balance at cost, in each case for the specified period. Main Street’s total return on investments is not reflective of what an investor in shares of Main Street’s common stock will realize on their investment because it does not reflect changes in the market value of Main Street’s stock, Main Street’s utilization of debt capital in its capital structure, Main Street’s expenses or any sales load paid by an investor.


85
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


The composition of Main Street’s total combined LMM, Private Loan and Middle Market portfolio investments at cost and fair value by type of investment as a percentage of the total combined LMM, Private Loan and Middle Market portfolio investments, as of June 30, 2026 and December 31, 2025, is as follows (this information excludes Other Portfolio investments and the External Investment Manager, which are discussed above):
Cost:June 30, 2026December 31, 2025
First lien debt80.9 %80.9 %
Equity18.3 18.6 
Second lien debt0.4 0.1 
Equity warrants0.2 0.2 
Other0.2 0.2 
100.0 %100.0 %
Fair Value:June 30, 2026December 31, 2025
First lien debt69.6 %69.8 %
Equity29.4 29.4 
Second lien debt0.3 — 
Equity warrants0.5 0.6 
Other0.2 0.2 
100.0 %100.0 %
Main Street’s LMM, Private Loan and Middle Market portfolio companies are located primarily in the U.S. The geographic composition is determined by the location of the corporate headquarters of the portfolio company. The composition of Main Street’s total combined LMM, Private Loan and Middle Market portfolio investments by geographic region of the U.S. and other countries at cost and fair value as a percentage of the total combined LMM, Private Loan and Middle Market portfolio investments, as of June 30, 2026 and December 31, 2025, is as follows (this information excludes Other Portfolio investments and the External Investment Manager):
Cost:June 30, 2026December 31, 2025
West25.7 %25.3 %
Midwest21.6 19.2 
Southeast18.1 17.5 
Southwest17.2 19.0 
Northeast14.1 15.4 
Canada2.1 2.2 
Other Non-U.S.1.2 1.4 
100.0 %100.0 %
Fair Value:June 30, 2026December 31, 2025
West25.1 %24.8 %
Midwest22.3 20.1 
Southwest20.5 23.0 
Southeast16.8 15.8 
Northeast12.3 13.1 
Canada1.9 1.9 
Other Non-U.S.1.1 1.3 
100.0 %100.0 %


86
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Main Street’s LMM, Private Loan and Middle Market portfolio investments are in companies conducting business in a variety of industries. The composition of Main Street’s total combined LMM, Private Loan and Middle Market portfolio investments by industry at cost and fair value, as of June 30, 2026 and December 31, 2025, is as follows (this information excludes Other Portfolio investments and the External Investment Manager):
Cost:June 30, 2026December 31, 2025
Construction & Engineering8.6 %6.1 %
Machinery8.3 8.3 
Electrical Equipment7.1 5.9 
Diversified Consumer Services5.4 4.7 
Commercial Services & Supplies5.2 6.8 
Distributors4.9 5.0 
Professional Services4.6 5.3 
Health Care Providers & Services4.1 4.2 
Internet Software & Services3.8 4.2 
Aerospace & Defense3.8 2.3 
IT Services3.2 3.7 
Containers & Packaging3.2 3.3 
Auto Components3.2 3.2 
Tobacco2.4 2.5 
Textiles, Apparel & Luxury Goods2.3 2.5 
Leisure Equipment & Products2.1 2.1 
Computers & Peripherals2.0 2.0 
Media2.0 1.6 
Energy Equipment & Services2.0 2.4 
Air Freight & Logistics1.9 1.5 
Specialty Retail1.9 2.0 
Software1.9 2.1 
Communications Equipment1.8 1.9 
Trading Companies & Distributors1.5 1.8 
Food Products1.4 1.4 
Chemicals1.3 1.4 
Food & Staples Retailing1.2 1.4 
Hotels, Restaurants & Leisure1.0 1.1 
Oil, Gas & Consumable Fuels1.0 1.1 
Internet & Catalog Retail0.9 1.0 
Beverages0.1 1.2 
Other (1)5.9 6.0 
100.0 %100.0 %
___________________________
(1)Includes various industries with each industry individually representing less than 1.0% of the total combined LMM, Private Loan and Middle Market portfolio investments at each date.


87
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Fair Value:June 30, 2026December 31, 2025
Machinery10.0 %10.2 %
Construction & Engineering8.7 6.5 
Electrical Equipment7.9 5.9 
Diversified Consumer Services6.5 6.1 
Distributors5.4 5.5 
Professional Services4.6 5.2 
Commercial Services & Supplies4.5 5.9 
Health Care Providers & Services3.8 3.8 
Computers & Peripherals3.8 3.6 
Aerospace & Defense3.4 2.0 
Containers & Packaging3.2 3.4 
Auto Components3.1 3.0 
Internet Software & Services3.0 3.4 
Tobacco2.5 2.6 
IT Services2.4 3.8 
Specialty Retail2.3 2.4 
Software2.1 2.2 
Media2.0 1.6 
Energy Equipment & Services1.9 2.5 
Textiles, Apparel & Luxury Goods1.8 1.9 
Air Freight & Logistics1.7 1.3 
Communications Equipment1.6 1.7 
Leisure Equipment & Products1.4 1.4 
Trading Companies & Distributors1.4 1.6 
Chemicals1.2 1.3 
Food Products1.0 1.1 
Food & Staples Retailing0.9 1.1 
Oil, Gas & Consumable Fuels0.9 1.0 
Beverages0.1 1.1 
Other (1)6.9 6.9 
100.0 %100.0 %
___________________________
(1)Includes various industries with each industry individually representing less than 1.0% of the total combined LMM, Private Loan and Middle Market portfolio investments at each date.
As of June 30, 2026 and December 31, 2025, Main Street had no portfolio investment that was greater than 10% of the Investment Portfolio at fair value.


88
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Unconsolidated Significant Subsidiaries
In accordance with Rules 3-09 and 4-08(g) of Regulation S-X, Main Street must determine which of its unconsolidated controlled portfolio companies, if any, are considered “significant subsidiaries.” In evaluating its unconsolidated controlled portfolio companies in accordance with Regulation S-X, there are two tests that Main Street must utilize to determine if any of Main Street’s Control investments (as defined in Note A — Organization and Basis of Presentation), including those unconsolidated portfolio companies defined as Control investments in which Main Street does not own greater than 50% of the voting securities nor have rights to maintain greater than 50% of the board representation, are considered significant subsidiaries: the investment test and the income test. The investment test is generally measured by dividing the fair value of Main Street’s investment in the Control investment by the fair value of Main Street’s total investments. The income test is generally measured by dividing the absolute value of the combined sum of total investment income, net realized gain (loss) and net unrealized appreciation (depreciation) from the relevant Control investment for the period being tested by the absolute value of Main Street’s change in net assets resulting from operations for the same period. Rules 3-09 and 4-08(g) of Regulation S-X require Main Street to include (1) separate audited financial statements of an unconsolidated majority-owned subsidiary (Control investments in which Main Street owns greater than 50% of the voting securities) in an annual report and (2) summarized financial information of a Control investment in a quarterly report, respectively, if certain thresholds of the investment or income tests are exceeded and the unconsolidated portfolio company qualifies as a significant subsidiary.
As of June 30, 2026 and December 31, 2025, Main Street had no single investment that qualified as a significant subsidiary under either the investment or income tests.
NOTE D — EXTERNAL INVESTMENT MANAGER
As discussed further in Note A.1. — Organization and Basis of Presentation — Organization and Note C — Fair Value Hierarchy for Investments — Portfolio Composition — Investment Portfolio Composition, the External Investment Manager provides investment management and other services to External Parties. The External Investment Manager is accounted for as a portfolio investment of Main Street since the External Investment Manager conducts all of its investment management activities for External Parties.
The External Investment Manager serves as the investment adviser and administrator to MSC Income pursuant to an Investment Advisory and Administrative Services Agreement entered into in October 2020 between the External Investment Manager and MSC Income (as amended and restated on January 29, 2025, the “Advisory Agreement”). Under the Advisory Agreement, prior to January 29, 2025, the External Investment Manager earned a 1.75% annual base management fee on MSC Income’s average total assets, a subordinated incentive fee on income equal to 20% of pre-incentive fee net investment income above a specified investment return hurdle rate and a 20% incentive fee on cumulative net realized capital gains in exchange for providing advisory services to MSC Income. On and after January 29, 2025, under the Advisory Agreement, the External Investment Manager earns a 1.5% annual base management fee on MSC Income’s average total assets (including cash and cash equivalents), payable quarterly in arrears (with additional future contractual reductions based upon changes to MSC Income’s investment portfolio composition), a subordinated incentive fee on income equal to 17.5% of pre-incentive fee net investment income above a specified investment return hurdle rate, subject to a 50% / 50% catch-up feature, and a 17.5% incentive fee on cumulative net realized capital gains from January 29, 2025.
As described more fully in Note L — Related Party Transactions, the External Investment Manager also serves as the investment adviser and administrator to MS Private Loan Fund I, LP (“Private Loan Fund I”) and MS Private Loan Fund II, LP (“Private Loan Fund II”), each a private investment fund with a strategy to co-invest with Main Street in Private Loan portfolio investments. The External Investment Manager entered into investment management agreements in December 2020 with Private Loan Fund I and in September 2023 with Private Loan Fund II, pursuant to which the External Investment Manager provides investment advisory and management services to each fund in exchange for an asset-based fee and certain incentive fees. The External Investment Manager may also advise other clients, including funds and separately managed accounts, pursuant to advisory and services agreements with such clients in exchange for asset-based and incentive fees.


89
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


The External Investment Manager provides administrative services for certain External Party clients that, to the extent not waived, are reported as administrative services fees. The administrative services fees generally represent expense reimbursements for a portion of the compensation, overhead and related expenses for certain professionals directly attributable to performing administrative services for clients. These fees are recognized as other revenue in the period in which the related services are rendered.
Main Street determines the fair value of the External Investment Manager using the Waterfall valuation method under the market approach (see further discussion in Note B.1. — Summary of Significant Accounting Policies — Valuation of the Investment Portfolio). Any change in fair value of the investment in the External Investment Manager is recognized on Main Street’s Consolidated Statements of Operations in “Net Unrealized Appreciation (Depreciation) — Control investments.”
The External Investment Manager is an indirect wholly-owned subsidiary of MSCC owned through a Taxable Subsidiary and is a disregarded entity for tax purposes. The External Investment Manager has entered into a tax sharing agreement with its Taxable Subsidiary owner. Since the External Investment Manager is accounted for as a portfolio investment of Main Street and is not included as a consolidated subsidiary of Main Street in its consolidated financial statements, and as a result of the tax sharing agreement with its Taxable Subsidiary owner, for financial reporting purposes the External Investment Manager is treated as if it is taxed at corporate income tax rates based on its taxable income and, as a result of its activities, may generate income tax expense or benefit. Main Street owns the External Investment Manager through the Taxable Subsidiary to allow MSCC to continue to comply with the “source-of-income” requirements contained in the RIC tax provisions of the Code. The taxable income, or loss, of the External Investment Manager may differ from its book income, or loss, due to temporary book and tax timing differences and permanent differences. As a result of the above described financial reporting and tax treatment, the External Investment Manager provides for any income tax expense, or benefit, and any tax assets or liabilities in its separate financial statements.
Main Street shares employees with the External Investment Manager and allocates costs related to such shared employees to the External Investment Manager generally based on a combination of the direct time spent, new investment activities and assets under management, depending on the nature of the expense. The total contribution of the External Investment Manager to Main Street’s net investment income consists of the combination of the expenses allocated to the External Investment Manager and the dividend income earned from the External Investment Manager. For each of the three months ended June 30, 2026 and 2025, the total contribution to Main Street’s net investment income was $8.7 million. For the six months ended June 30, 2026 and 2025, the total contribution to Main Street’s net investment income was $17.0 million and $16.6 million, respectively.
Summarized financial information from the separate financial statements of the External Investment Manager as of June 30, 2026 and December 31, 2025 and for the three and six months ended June 30, 2026 and 2025 is as follows:
As of
June 30,
2026
As of
December 31, 2025
(in thousands)
Accounts receivable - advisory clients (1)$12,319 $11,415 
Intangible asset
29,500 29,500 
Total assets$41,819 $40,915 
Accounts payable to MSCC and its subsidiaries$10,236 $8,734 
Dividend payable to MSCC and its subsidiaries2,083 2,681 
Equity29,500 29,500 
Total liabilities and equity$41,819 $40,915 


90
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
(in thousands)
Management fee income$6,212 $5,707 $12,283 $11,459 
Incentive fees (1)3,231 3,721 7,234 6,411 
Administrative services fees188 172 374 346 
Total revenues before waivers9,631 9,600 19,891 18,216 
Waiver of incentive fees(258)— (1,243)— 
Total revenues, net of incentive fee waivers9,373 9,600 18,648 18,216 
Expenses allocated from MSCC or its subsidiaries:
Salaries, share-based compensation and other personnel costs(5,667)(4,921)(10,238)(9,472)
Other G&A expenses(959)(971)(1,854)(1,756)
Total allocated expenses(6,626)(5,892)(12,092)(11,228)
Other direct G&A expenses(11)(11)(21)(49)
Total expenses(6,637)(5,903)(12,113)(11,277)
Net income before taxes2,736 3,697 6,535 6,939 
Tax expense(653)(848)(1,583)(1,596)
Net income$2,083 $2,849 $4,952 $5,343 
___________________________
(1)As of June 30, 2026 and December 31, 2025, MSC Income had an expense accrual of $5.1 million and $2.8 million, respectively, of incentive fees on capital gains to the External Investment Manager. During the three and six months ended June 30, 2026 and 2025, MSC Income accrued incentive fees on capital gains to the External Investment Manager as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
(in thousands)
Accrued incentive fees on capital gains$2,949 $— $2,311 $— 
No capital gains incentive fees were contractually payable to the External Investment Manager as of June 30, 2026 and as a result no income accrual was recorded by the External Investment Manager during any period.


91
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


NOTE E — DEBT
A summary of Main Street’s debt as of June 30, 2026 is as follows:
Outstanding
Balance
Net Unamortized Debt
Issuance Premiums
(Costs/Discounts) (1)
Recorded Value
Estimated
Fair Value (2)
(in thousands)
Corporate Facility$26,000 $— $26,000 $26,000 
SPV Facility215,000 — 215,000 215,000 
March 2029 Notes
550,000 612 550,612 565,818 
July 2026 Notes
500,000 (22)499,978 499,520 
June 2027 Notes
400,000 (287)399,713 404,180 
August 2028 Notes
350,000 (1,622)348,378 348,219 
SBIC debentures350,000 (4,819)345,181 308,392 
April 2031 Notes
150,000 (1,009)148,991 152,028 
Total Debt$2,541,000 $(7,147)$2,533,853 $2,519,157 
___________________________
(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets. The net unamortized debt issuance costs/discounts related to the July 2026 Notes, June 2027 Notes, August 2028 Notes, SBIC debentures and April 2031 Notes are reflected as contra-liabilities on the Consolidated Balance Sheets, while the net unamortized debt issuance premium related to the March 2029 Notes is reflected as an addition to the carrying value on the Consolidated Balance Sheets.
(2)Estimated fair value for outstanding debt is shown as if Main Street had adopted the fair value option under ASC 825, Financial Instruments (“ASC 825”). See discussion of the methods used to estimate the fair value of Main Street’s debt in Note B.12. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.
A summary of Main Street’s debt as of December 31, 2025 is as follows:
Outstanding
Balance		Net Unamortized
Debt Issuance
Costs/Discounts (1)		Recorded ValueEstimated
Fair Value (2)
(in thousands)
Corporate Facility$432,000 $— $432,000 $432,000 
SPV Facility86,000 — 86,000 86,000 
July 2026 Notes
500,000 (285)499,715 496,150 
June 2027 Notes
400,000 (431)399,569 408,764 
August 2028 Notes
350,000 (2,004)347,996 352,293 
March 2029 Notes
350,000 (2,279)347,721 365,649 
SBIC debentures350,000 (5,407)344,593 310,930 
Total Debt$2,468,000 $(10,406)$2,457,594 $2,451,786 
___________________________
(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the net unamortized debt issuance costs/discounts related to the July 2026 Notes, June 2027 Notes, August 2028 Notes, March 2029 Notes and SBIC debentures are reflected as contra-liabilities on the Consolidated Balance Sheets.
(2)Estimated fair value for outstanding debt is shown as if Main Street had adopted the fair value option under ASC 825. See discussion of the methods used to estimate the fair value of Main Street’s debt in Note B.12. — Summary of Significant Accounting Policies — Fair Value of Financial Instruments.


92
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


A summary of Main Street’s interest expense for the three and six months ended June 30, 2026 and 2025 is as follows:
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
(in thousands)
Corporate Facility$2,073 $5,867 $7,966 $10,324 
SPV Facility4,180 3,771 7,603 7,587 
March 2029 Notes
9,475 6,261 15,736 12,522 
July 2026 Notes
3,882 3,882 7,763 7,763 
June 2027 Notes
6,572 6,572 13,144 13,144 
August 2028 Notes
4,916 — 9,832 — 
SBIC debentures3,128 3,135 6,225 6,286 
December 2025 Notes
— 3,031 — 6,061 
April 2031 Notes2,411 — 2,411 — 
Total Interest Expense$36,637 $32,519 $70,680 $63,687 
A summary of Main Street’s weighted-average amount of total debt outstanding and overall weighted-average effective interest rate including amortization of debt issuance costs, original issuance discounts and premiums and fees on unused lender commitments for the three and six months ended June 30, 2026 and 2025 is as follows:
Three Months Ended June 30,
Six Months Ended June 30,
2026
2025
2026
2025
(dollars in millions)
Weighted-average debt outstanding$2,593.9 $2,233.1 $2,540.0 $2,192.0 
Weighted-average effective interest rate5.6 %5.8 %5.6 %5.8 %
Corporate Facility
Main Street maintains a multi-year revolving credit facility (the “Corporate Facility”) to provide additional liquidity to support its investment and operational activities. In June 2026, Main Street entered into an amendment to the Corporate Facility to, among other things: (i) increase the revolving commitments to $1.240 billion, (ii) increase the accordion feature providing Main Street with the right to request increases in commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments to up to a total of $1.860 billion and (iii) extend the revolving period and final maturity date through June 2030 and to June 2031, respectively.
As of June 30, 2026, the Corporate Facility included (i) total commitments of $1.240 billion from a diversified group of 18 lenders, (ii) an accordion feature with the right to request an increase in commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments up to a total of $1.860 billion and (iii) a revolving period through June 2030 and a final maturity date in June 2031.
As of June 30, 2026, borrowings under the Corporate Facility bore interest, subject to Main Street’s election and resetting on a monthly basis on the first of each month, at a rate equal to the applicable SOFR plus a credit spread adjustment of 0.10% plus 1.775% (or 1.65% after satisfying certain step-down conditions in the future). Main Street pays unused commitment fees of 0.25% on the unused lender commitments under the Corporate Facility. The Corporate Facility is secured by a first lien on the assets of MSCC and its subsidiaries, excluding the equity ownership and assets of the Funds, the Structured Subsidiaries and the External Investment Manager. In connection with the Corporate Facility, MSCC has made customary representations and warranties and is subject to certain leverage and borrowing base limitations, covenants, reporting and other requirements customary for similar credit facilities.


93
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


As of June 30, 2026, the interest rate for borrowings on the Corporate Facility was 5.5%. The average interest rate for borrowings under the Corporate Facility was 5.5% and 6.2% for the three months ended June 30, 2026 and 2025, respectively, and 5.5% and 6.3%, for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, Main Street was in compliance with all financial covenants of the Corporate Facility.
SPV Facility
Main Street, through MSCC Funding I, LLC (“MSCC Funding”), a wholly-owned Structured Subsidiary that primarily holds debt investments, maintains a special purpose vehicle revolving credit facility (the “SPV Facility” and, together with the Corporate Facility, the “Credit Facilities”) to finance its investment and operational activities.
As of June 30, 2026, the SPV Facility included (i) total commitments of $600.0 million from a diversified group of six lenders, (ii) an accordion feature providing MSCC Funding with the right to request increases in commitments under the facility, subject to the satisfaction of various conditions, from new and existing lenders on the same terms and conditions as the existing commitments to up to a total of $800.0 million and (iii) a revolving period through September 2028 and a final maturity date in September 2030. Advances under the SPV Facility bear interest at a rate equal to the applicable SOFR in effect, plus an applicable margin of 1.95% during the revolving period and 2.075% and 2.20% during the first and second years thereafter, respectively. MSCC Funding pays a commitment fee of 0.40% on the unused lender commitments up to 50% of the total lender commitments and 0.75% on the unused lender commitments greater than 50% of the total lender commitments. The SPV Facility is secured by a first lien on the assets of MSCC Funding and its subsidiaries. In connection with the SPV Facility, MSCC Funding has made customary representations and warranties and is subject to certain leverage and borrowing base limitations, covenants, reporting and other requirements customary for similar credit facilities.
As of June 30, 2026, the interest rate for borrowings on the SPV Facility was 5.6%. The average interest rate for borrowings under the SPV Facility was 5.6% and 6.4% for the three months ended June 30, 2026 and 2025, respectively, and 5.6% and 6.5%, for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, MSCC Funding was in compliance with all financial covenants of the SPV Facility.
MSCC Funding’s balance sheets as of June 30, 2026 and December 31, 2025 are as follows:
Balance Sheets
(in thousands)
June 30, 2026December 31, 2025
(Unaudited)
ASSETS
Investments at fair value (cost: $518,699 and $348,954, respectively)
$509,358 $344,093 
Cash and cash equivalents24,509 6,375 
Interest and dividend receivable and other assets3,209 2,149 
Deferred financing costs (net of accumulated amortization of $4,056 and $3,314, respectively)
6,342 7,084 
Total assets$543,418 $359,701 
LIABILITIES
SPV Facility$215,000 $86,000 
Accounts payable and other liabilities to affiliates— 42 
Interest payable1,189 695 
Total liabilities216,189 86,737 
NET ASSETS
Contributed capital246,142 197,064 
Total undistributed earnings81,087 75,900 
Total net assets327,229 272,964 
Total liabilities and net assets$543,418 $359,701 


94
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


MSCC Funding’s statements of operations for the three and six months ended June 30, 2026 and 2025 are as follows:
Statements of Operations
(in thousands)
(Unaudited)
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
INVESTMENT INCOME:
Interest, dividend and fee income$13,819 $10,491 $25,187 $21,089 
EXPENSES:
Interest(4,180)(3,771)(7,603)(7,587)
Management fee to MSCC(651)(453)(1,151)(743)
General and administrative(24)(6)(42)(75)
Total expenses(4,855)(4,230)(8,796)(8,405)
NET INVESTMENT INCOME8,964 6,261 16,391 12,684 
Total net realized loss(6,725)— (6,725)— 
Total net unrealized appreciation (depreciation)6,796 (2,353)(4,479)(2,290)
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$9,035 $3,908 $5,187 $10,394 


95
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


March 2029 Notes
In January 2024, Main Street issued $350.0 million in aggregate principal amount of 6.95% unsecured notes due March 1, 2029 (the “March 2029 Notes”) at an issue price of 99.865%. Subsequently, in March 2026, Main Street issued an additional $200.0 million in aggregate principal amount of the March 2029 Notes at a public offering price of 102.061% resulting in a yield-to-maturity of 6.164% on such issuance. The March 2029 Notes issued in March 2026 have identical terms as, and are a part of a single series with, the March 2029 Notes issued in January 2024. The $550.0 million of outstanding March 2029 Notes bear interest at 6.95% per year, payable semiannually on March 1 and September 1 of each year, with a yield-to-maturity of 6.68% as of June 30, 2026. The March 2029 Notes are unsecured obligations and rank pari passu with Main Street’s current and future unsecured indebtedness. The March 2029 Notes may be redeemed in whole or in part at any time at Main Street’s option subject to certain make-whole provisions.
As of June 30, 2026, Main Street was in compliance with all covenants and other requirements of the March 2029 Notes.
July 2026 Notes
In January 2021, Main Street issued $300.0 million in aggregate principal amount of 3.00% unsecured notes due July 14, 2026 (the “July 2026 Notes”) at an issue price of 99.004%. Subsequently, in October 2021, Main Street issued an additional $200.0 million in aggregate principal amount of the July 2026 Notes at an issue price of 101.741%. The July 2026 Notes issued in October 2021 have identical terms as, and are a part of a single series with, the July 2026 Notes issued in January 2021. The July 2026 Notes are unsecured obligations and rank pari passu with Main Street’s current and future unsecured indebtedness. The July 2026 Notes may be redeemed in whole or in part at any time at Main Street’s option subject to certain make-whole provisions. The July 2026 Notes bear interest at a rate of 3.00% per year payable semiannually on January 14 and July 14 of each year.
As of June 30, 2026, Main Street was in compliance with all covenants and other requirements of the July 2026 Notes.
June 2027 Notes
In June 2024, Main Street issued $300.0 million in aggregate principal amount of 6.50% unsecured notes due June 4, 2027 (the “June 2027 Notes”) at an issue price of 99.793%. Subsequently, in September 2024, Main Street issued an additional $100.0 million in aggregate principal amount of the June 2027 Notes at a public offering price of 102.134% resulting in a yield-to-maturity of 5.617% on such issuance. The $400.0 million of outstanding June 2027 Notes bear interest at 6.50% per year with a yield-to-maturity of 6.34%. The June 2027 Notes issued in September 2024 have identical terms as, and are a part of a single series with, the June 2027 Notes issued in June 2024. The June 2027 Notes are unsecured obligations and rank pari passu with Main Street’s current and future unsecured indebtedness. The June 2027 Notes may be redeemed in whole or in part at any time at Main Street’s option subject to certain make-whole provisions. The June 2027 Notes bear interest at a rate of 6.50% per year payable semiannually on June 4 and December 4 of each year.
As of June 30, 2026, Main Street was in compliance with all covenants and other requirements of the June 2027 Notes.
August 2028 Notes
In August 2025, Main Street issued $350.0 million in aggregate principal amount of 5.40% unsecured notes due August 15, 2028 (the “August 2028 Notes”) at an issue price of 99.989%. The August 2028 Notes are unsecured obligations and rank pari passu with Main Street’s current and future unsecured indebtedness. The August 2028 Notes may be redeemed in whole or in part at any time at Main Street’s option subject to certain make-whole provisions. The August 2028 Notes bear interest at a rate of 5.40% per year payable semiannually on February 15 and August 15 of each year.
As of June 30, 2026, Main Street was in compliance with all covenants and other requirements of the August 2028 Notes.


96
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


SBIC Debentures
Under previous SBIC regulations, SBA-approved SBICs under common control had the ability to issue debentures guaranteed by the SBA up to a regulatory maximum amount of $350.0 million. In May 2026, the Investing in All of America Act was enacted, increasing the maximum leverage available to commonly controlled SBICs. This allows access to an additional $125.0 million of SBIC debenture capacity above the previous $350.0 million maximum, bringing total potential capacity to $475.0 million. Under existing SBA-approved commitments, Main Street, through the Funds, had $350.0 million of outstanding SBIC debentures as of both June 30, 2026 and December 31, 2025. SBIC debentures provide for interest to be paid semiannually, with principal due at the applicable 10-year maturity date of each debenture. The principal amount of the debentures is not required to be paid before maturity, but may be pre-paid at any time with no prepayment penalty. The weighted-average annual interest rate on the SBIC debentures was 3.3% as of both June 30, 2026 and December 31, 2025. The first principal maturity due under the existing SBIC debentures is in 2027, and the weighted-average remaining duration as of June 30, 2026 was 4.1 years. In accordance with SBIC regulations, the Funds are precluded from incurring additional non-SBIC debt without the prior approval of the SBA. Main Street expects to maintain SBIC debentures under the SBIC program in the future, subject to periodic repayments and borrowings, in an amount up to the regulatory maximum amount for affiliated SBIC funds.
As of June 30, 2026, the SBIC debentures consisted of (i) $175.0 million par value of SBIC debentures issued by MSMF, with a recorded value of $171.2 million net of unamortized debt issuance costs of $3.8 million, and (ii) $175.0 million par value of SBIC debentures issued by MSC III, with a recorded value of $174.0 million net of unamortized debt issuance costs of $1.0 million.
April 2031 Notes
Pursuant to a Master Note Purchase Agreement dated April 8, 2026 (the “April 2031 Note Purchase Agreement”), Main Street issued $150.0 million in aggregate principal amount of 6.93% Series A Senior Notes due April 15, 2031 (the “April 2031 Notes”).
Interest on the April 2031 Notes is due semiannually on April 15 and October 15 of each year, beginning on October 15, 2026. The April 2031 Notes may be redeemed in whole or in part at any time at Main Street’s option subject to certain make-whole provisions. In addition, Main Street is obligated to offer to prepay the April 2031 Notes at par plus accrued and unpaid interest up to, but excluding, the date of prepayment, if certain change in control events occur. In the event of a Below Investment Grade Event, a Secured Debt Ratio Event and/or an Unsecured Debt Coverage Ratio Event (each as defined in the April 2031 Note Purchase Agreement), the April 2031 Notes will bear interest at an increased rate from the date of the occurrence of the Below Investment Grade Event, Secured Debt Ratio Event and/or Unsecured Debt Coverage Ratio Event to and until the date on which the Below Investment Grade Event, Secured Debt Ratio Event and/or Unsecured Debt Coverage Ratio Event ends. The April 2031 Notes are general unsecured obligations of Main Street and its subsidiary guarantors that rank pari passu with all outstanding and future unsecured unsubordinated indebtedness issued by Main Street and its subsidiary guarantors.
The April 2031 Note Purchase Agreement also contains customary terms, conditions, covenants and events of default for senior unsecured notes issued in a private placement. As of June 30, 2026, Main Street was in compliance with all covenants and other requirements of the April 2031 Notes.
December 2025 Notes
In September 2025, Main Street repaid the $100.0 million principal amount of the issued and outstanding 7.84% Series A unsecured notes (the “December 2025 Series A Notes”) and the $50.0 million principal amount of the issued and outstanding 7.53% Series B unsecured notes (the “December 2025 Series B Notes” and, together with the December 2025 Series A Notes, the “December 2025 Notes”) prior to maturity at par value plus the accrued and unpaid interest. The December 2025 Notes were due to mature on December 23, 2025.


97
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


NOTE F — FINANCIAL HIGHLIGHTS
The following is a schedule of financial highlights of Main Street for the six months ended June 30, 2026 and 2025:
Six Months Ended June 30,
Per Share Data:20262025
NAV as of the beginning of the period$33.33 $31.65 
Net investment income (1)1.90 1.96 
Net realized gain (1)(2)0.56 0.26 
Net unrealized appreciation (depreciation) (1)(2)(0.20)0.49 
Income tax provision on net realized gain and net unrealized appreciation (depreciation) (1)(2)(0.12)(0.03)
Net increase in net assets resulting from operations (1)2.14 2.68 
Dividends paid from net investment income(2.16)(2.10)
Dividends paid (3)(2.16)(2.10)
Accretive effect of stock offerings (issuing shares above NAV per share)0.64 0.08 
Accretive effect of DRIP issuance (issuing shares above NAV per share)0.08 0.09 
Other (4)(0.11)(0.10)
NAV as of the end of the period$33.92 $32.30 
Market value as of the end of the period$51.88 $59.10 
Shares outstanding as of the end of the period93,359,32589,282,595
___________________________
(1)Based on weighted-average number of common shares outstanding for the period.
(2)Net realized gains or losses, net unrealized appreciation or depreciation and the related income tax provision or benefit can fluctuate significantly from period to period.
(3)MSCC’s taxable income for each period is an estimate and will not be finally determined until MSCC files its tax return for each year. As a result, the tax character of MSCC’s dividends and distributions for each period is also an estimate. Therefore, the final tax character of MSCC’s dividends and distributions may be different than this estimate.
(4)Includes the impact of the different share amounts as a result of calculating certain per share data based on the weighted-average basic shares outstanding during the period and certain per share data based on the shares outstanding as of a period end or transaction date and other minor changes.


98
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Six Months Ended June 30,
20262025
(dollars in thousands)
NAV as of the end of the period$3,166,538$2,884,217
Average NAV$3,084,692$2,840,729
Average outstanding debt$2,550,286$2,206,714
Ratios to average NAV:
Ratio of total expenses, including tax expenses, to average NAV (1)(2)4.07 %3.86 %
Ratio of operating expenses to average NAV (2)(3)3.50 %3.45 %
Ratio of operating expenses, excluding interest expense, to average NAV (2)(3)1.21 %1.20 %
Ratio of net investment income to average NAV (2)5.67 %6.13 %
Portfolio turnover ratio (2)8.82 %11.40 %
Total investment return (2)(4)(10.64)%4.67 %
Total return based on change in NAV (2)(5)6.57 %8.53 %
___________________________
(1)Total expenses are the sum of operating expenses and all tax expenses.
(2)Not annualized.
(3)Unless otherwise noted, operating expenses include interest, compensation, general and administrative and share-based compensation expenses, net of expenses allocated to the External Investment Manager of $12.1 million and $11.2 million for the six months ended June 30, 2026 and 2025, respectively.
(4)Total investment return is based on the purchase of stock at the current market price on the first day and a sale at the current market price on the last day of each period reported on the table and assumes reinvestment of dividends at prices obtained by Main Street’s DRIP (as defined below) during the period. The return does not reflect any sales load that may be paid by an investor.
(5)Total return based on change in NAV was calculated using the sum of ending NAV plus dividends to stockholders and other non-operating changes during the period, divided by the beginning NAV. Non-operating changes include any items that affect NAV other than the net increase in net assets resulting from operations, such as the effects of stock offerings, shares issued under the DRIP and equity incentive compensation plans and other miscellaneous items.


99
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


NOTE G — DIVIDENDS, DISTRIBUTIONS AND TAXABLE INCOME
Main Street currently pays regular monthly dividends to its stockholders and periodically pays supplemental dividends to its stockholders. Future dividends, if any, will be determined by its Board of Directors on a quarterly basis.
A summary of dividends paid for the three and six months ended June 30, 2026 and 2025 is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands, except per share amounts)
Regular monthly dividends per share$0.78 $0.75 $1.56 $1.50 
Supplemental dividends per share0.30 0.30 0.60 0.60 
Total dividends per share$1.08 $1.05 $2.16 $2.10 
Total regular monthly dividends$72,690 $66,908 $143,073 $133,416 
Total supplemental dividends28,042 26,818 55,773 53,457 
Total dividends$100,732 $93,726 $198,846 $186,873 
MSCC has elected to be treated for U.S. federal income tax purposes as a RIC. MSCC’s taxable income includes the taxable income generated by MSCC and certain of its subsidiaries, including the Funds and Structured Subsidiaries, which are treated as disregarded entities for tax purposes. As a RIC, MSCC generally will not pay corporate-level U.S. federal income taxes on any net ordinary taxable income or capital gains that MSCC distributes to its stockholders. MSCC must generally distribute at least 90% of its “investment company taxable income” (which is generally its net ordinary taxable income and realized net short-term capital gains in excess of realized net long-term capital losses) and 90% of its tax-exempt income to maintain its RIC status (pass-through tax treatment for amounts distributed). As part of maintaining RIC status, undistributed taxable income (subject to a 4% non-deductible U.S. federal excise tax) pertaining to a given fiscal year may be distributed up to twelve months subsequent to the end of that fiscal year, provided such dividends are declared on or prior to the later of (i) filing of the U.S. federal income tax return for the applicable fiscal year or (ii) the fifteenth day of the ninth month following the close of the year in which such taxable income was generated.
The determination of the tax attributes for Main Street’s distributions is made annually, based upon its taxable income for the full year and distributions paid for the full year. Therefore, a determination made on an interim basis may not be representative of the actual tax attributes of distributions for a full year. Ordinary dividend distributions from a RIC do not qualify for the 20% maximum tax rate (plus a 3.8% Medicare surtax, if applicable) on dividend income from domestic corporations and qualified foreign corporations, except to the extent that the RIC received the income in the form of qualifying dividends from domestic corporations and qualified foreign corporations. The tax attributes for distributions will generally include both ordinary income and qualified dividends, but may also include either one or both of capital gains and return of capital.


100
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


A reconciliation of “Net increase in net assets resulting from operations” to taxable income and to total distributions declared to common stockholders for the six months ended June 30, 2026 and 2025 is as follows:
Six Months Ended June 30,

20262025
(estimated, in thousands)
Net increase in net assets resulting from operations$196,558 $238,616 
Book-tax difference from share-based compensation expense(12,285)(15,311)
Net unrealized (appreciation) depreciation18,379 (44,239)
Income tax provision17,504 11,642 
Pre-tax book income not consolidated for tax purposes(36,722)(85,884)
Book income and tax income differences, including debt origination, structuring fees, dividends, realized gains and changes in estimates(21,366)52,988 
Estimated taxable income (1)162,068 157,812 
Taxable income earned in prior year and carried forward for distribution in current year80,058 120,488 
Taxable income earned prior to period end and carried forward for distribution next period(66,642)(113,496)
Dividend payable as of period end and paid in the following period24,740 22,767 
Total distributions accrued or paid to common stockholders$200,224 $187,571 
___________________________
(1)MSCC’s taxable income for each period is an estimate and will not be finally determined until MSCC files its tax return for each year. Therefore, the final taxable income, and the taxable income earned in each period and carried forward for distribution in the following period, may be different than this estimate.
The Taxable Subsidiaries primarily hold certain equity investments for Main Street. The Taxable Subsidiaries permit Main Street to hold equity investments in portfolio companies which are “pass-through” entities for tax purposes and to continue to comply with the “source-of-income” requirements contained in the RIC tax provisions of the Code. The Taxable Subsidiaries are consolidated with MSCC for U.S. GAAP financial reporting purposes, and the portfolio investments held by the Taxable Subsidiaries are included in Main Street’s consolidated financial statements as portfolio investments and recorded at fair value. The Taxable Subsidiaries are not consolidated with MSCC for income tax purposes and may generate income tax expense, or benefit, and tax assets and liabilities, as a result of their ownership of certain portfolio investments. The taxable income, or loss, of the Taxable Subsidiaries may differ from their book income, or loss, due to temporary book and tax timing differences and permanent differences. The Taxable Subsidiaries are each taxed at corporate income tax rates based on their taxable income. The income tax expense, or benefit, if any, and the related tax assets and liabilities, of the Taxable Subsidiaries are reflected in Main Street’s consolidated financial statements.


101
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


The income tax provision for Main Street is generally composed of (i) deferred tax expense, which is primarily the result of the net activity relating to the portfolio investments held in the Taxable Subsidiaries, including changes in loss carryforwards, changes in net unrealized appreciation or depreciation and other temporary book tax differences, and (ii) current tax expense, which is primarily the result of current U.S. federal income and state taxes relating to net currently taxable activity relating to the portfolio investments held in the Taxable Subsidiaries and excise taxes on Main Street’s estimated undistributed taxable income. The income tax expense, or benefit, and the related tax assets and liabilities generated by the Taxable Subsidiaries, if any, are reflected in Main Street’s Consolidated Statements of Operations. Main Street’s provision for income taxes was comprised of the following for the three and six months ended June 30, 2026 and 2025:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
(in thousands)
Net investment income taxes
Current tax expense (benefit):
Federal$(226)$(164)$(226)$— 
State and other603 487 1,058 1,147 
Excise659 818 1,040 2,159 
Total current tax expense1,036 1,141 1,872 3,306 
Deferred tax expense (benefit):
Federal1,833 3,575 5,460 5,470 
State and other604 435 (595)288 
Total deferred tax expense2,437 4,010 4,865 5,758 
Total net investment income tax provision$3,473 $5,151 $6,737 $9,064 
Investment valuation related taxes
Current tax expense (benefit):
Federal$(1,106)$4,071 $337 $4,391 
Total current tax expense (benefit)(1,106)4,071 337 4,391 
Deferred tax expense (benefit):
Federal7,525 (3,343)8,628 (72)
State and other1,376 (1,610)1,802 (1,741)
Total deferred tax expense (benefit)8,901 (4,953)10,430 (1,813)
Total investment valuation related income tax provision (benefit)$7,795 $(882)$10,767 $2,578 
Total income tax provision$11,268 $4,269 $17,504 $11,642 
The net deferred tax liability as of June 30, 2026 and December 31, 2025 was $124.3 million and $109.0 million, respectively, with the change primarily related to changes in net unrealized appreciation or depreciation, changes in loss carryforwards and other temporary book-tax differences relating to portfolio investments held by the Taxable Subsidiaries. As of June 30, 2026, for U.S. federal income tax purposes, the Taxable Subsidiaries had a net operating loss carryforward, which is not subject to expiration and will carryforward indefinitely until utilized. Additionally, the Taxable Subsidiaries have interest expense limitation carryforwards which have an indefinite carryforward period. As of June 30, 2026, for U.S. federal income tax purposes, MSCC had net capital loss carryforwards totaling $28.3 million available to offset future capital gains at the RIC level in any taxable year, to the extent available and permitted by U.S. federal income tax law, which are not subject to expiration as long as MSCC maintains its RIC status.


102
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


NOTE H — COMMON STOCK
Main Street maintains a program with certain selling agents through which it can sell up to 20,000,000 shares of its common stock by means of at-the-market offerings from time to time (the “ATM Program”). During the six months ended June 30, 2026, Main Street sold 2,790,683 shares of its common stock at a weighted-average price of $55.43 per share and raised $154.7 million of gross proceeds under the ATM Program, or net proceeds of $152.9 million after commissions to the selling agents on shares sold and offering costs. As of June 30, 2026, sales transactions representing 5,159 shares had not settled and thus were not issued and not included in shares issued and outstanding on the face of the Consolidated Balance Sheets, but are included as outstanding on the Consolidated Statement of Changes in Net Assets, in the weighted-average shares outstanding in the Consolidated Statements of Operations and in the shares used to calculate the NAV per share. As of June 30, 2026, 16,740,256 shares remained available for sale under the ATM Program.
During the year ended December 31, 2025, Main Street sold 540,423 shares of its common stock at a weighted-average price of $59.01 per share and raised $31.9 million of gross proceeds under the ATM Program. Net proceeds were $31.3 million after commissions to the selling agents on shares sold and offering costs.
NOTE I — DIVIDEND REINVESTMENT PLAN
The dividend reinvestment feature of Main Street’s dividend reinvestment plan (the “DRIP”) provides for the reinvestment of dividends on behalf of its stockholders, unless a stockholder has elected to receive dividends in cash. As a result, if Main Street declares a cash dividend, its stockholders who have not “opted out” of the DRIP by the dividend record date will have their cash dividend automatically reinvested into additional shares of Main Street common stock. The share requirements of the DRIP may be satisfied through the issuance of shares of common stock or through open market purchases of common stock by the DRIP plan administrator. Newly issued shares will be valued based upon the final closing price of Main Street’s common stock on the valuation date determined for each dividend by Main Street’s Board of Directors. Shares purchased in the open market to satisfy the DRIP requirements will be valued based upon the average price of the applicable shares purchased, before any associated brokerage or other costs. Main Street’s DRIP is administered by its transfer agent on behalf of Main Street’s record holders and participating brokerage firms. Brokerage firms and other financial intermediaries may decide not to participate in Main Street’s DRIP but may provide a similar dividend reinvestment plan for their clients.
Summarized DRIP information for the six months ended June 30, 2026 and 2025 is as follows:
Six Months Ended June 30,
20262025
(dollars in thousands)
DRIP participation$20,608 $18,466 
Shares issued for DRIP376,928 324,454 

NOTE J — SHARE-BASED COMPENSATION
Main Street accounts for its share-based compensation plans using the fair value method, as prescribed by ASC 718, Compensation—Stock Compensation. Accordingly, for restricted stock awards, Main Street measures the grant date fair value based upon the market price of its common stock on the date of the grant and amortizes the fair value of the awards as share-based compensation expense over the requisite service period, which is generally the vesting term.
Main Street’s Board of Directors approves the issuance of shares of restricted stock to Main Street employees pursuant to the Main Street Capital Corporation 2022 Equity and Incentive Plan (the “Equity and Incentive Plan”). These shares generally vest over a three-year or five-year period from the grant date. The fair value is expensed over the service period, starting on the grant date. A summary of the restricted stock issuances approved by Main Street’s Board of Directors under the Equity and Incentive Plan, net of shares forfeited, if any, and the remaining shares of restricted stock available for issuance as of June 30, 2026, is as follows:
Restricted stock authorized under the plan5,000,000 
Less net restricted stock granted(1,986,229)
Restricted stock available for issuance as of June 30, 2026
3,013,771 


103
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Main Street’s Board of Directors approves the issuance of shares of restricted stock to Main Street non-employee directors pursuant to the Main Street Capital Corporation 2022 Non-Employee Director Restricted Stock Plan. These shares are granted upon appointment or election of non-employee directors to the board and vest on the day immediately preceding the annual meeting of stockholders following the respective grant date and are expensed over such service period. A summary of the restricted stock issuances approved by Main Street’s Board of Directors under the 2022 Non-Employee Director Restricted Stock Plan, net of shares forfeited, if any, and the remaining shares of restricted stock available for issuance as of June 30, 2026, is as follows:
Restricted stock authorized under the plan300,000 
Less net restricted stock granted(17,683)
Restricted stock available for issuance as of June 30, 2026
282,317 
For the three months ended June 30, 2026 and 2025, Main Street recognized total share-based compensation expense of $5.8 million and $5.4 million, respectively, related to the restricted stock issued to Main Street employees and non-employee directors. For the six months ended June 30, 2026 and 2025, Main Street recognized total share-based compensation expense of $10.9 million and $10.3 million, respectively, related to the restricted stock issued to Main Street employees and non-employee directors.
Summarized restricted stock award activity for the six months ended June 30, 2026 is as follows:
Six Months Ended June 30, 2026
NumberWeighted-Average Grant-Date Fair Value
Restricted Stock Awards:of Shares(per share)
Non-vested, December 31, 2025
995,208 $50.15 
Granted (1)538,887 52.23 
Vested (1)(2)
(441,404)47.43 
Forfeited(24,792)51.26 
Non-vested, June 30, 2026
1,067,899 $52.30 
Aggregate intrinsic value as of June 30, 2026 (in thousands) (3)
$55,403 
___________________________
(1)Restricted shares generally vest over a three-year or five-year period from the grant date (as noted above).
(2)Vested shares included 169,445 shares withheld for payroll taxes paid on behalf of employees.
(3)Aggregate intrinsic value is the product of total non-vested restricted shares as of June 30, 2026 and $51.88 per share, the closing price of Main Street’s common stock on June 30, 2026.
As of June 30, 2026, there was $50.1 million of total unrecognized compensation expense related to Main Street’s non-vested restricted shares. This compensation expense is expected to be recognized over a remaining weighted-average period of 2.9 years as of June 30, 2026.


104
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


NOTE K — COMMITMENTS AND CONTINGENCIES
As of June 30, 2026, Main Street had the following outstanding commitments (in thousands):
Investments with equity capital commitments that have not yet funded:
June 30, 2026
Brightwood Capital Fund Investments
Brightwood Capital Fund V, LP$100 
Brightwood Capital Fund III, LP65 
165 
EnCap Equity - Fund XII, LP3,612 
Harris Preston Fund Investments
HPEP 5, L.P.9,500 
HPEP 4, L.P.4,456 
HPEP 3, L.P.1,308 
423 AER II, LP59 
2717 HPP-MS, LP44 
15,367 
MS Private Loan Fund II, LP4,500 
UnionRock Energy Fund Investments
UnionRock Energy Fund III, LP5,300 
UnionRock Energy Fund II, LP2,820 
8,120 
Total Equity Commitments (1)(2)$31,764 
Investments with commitments to fund revolving loans that have not been fully drawn or term loans with additional commitments not yet funded:
Horwitz Holdings, LLC$57,029 
CRC Evans USA Bidco, Inc.38,167 
MSC Income Fund, Inc.30,000 
Mission Critical Group24,230 
Creative Foam Corporation15,375 
Auria Space, LLC11,401 
MS Private Loan Fund II, LP10,000 
Core Transformers9,404 
Electro Technical Industries, LLC8,894 
Airo Purchaser, Inc.7,884 
Richardson Sales Solutions7,806 
South Coast Terminals Holdings, LLC7,160 
TEC Services, LLC6,467 
AVEX Aviation Holdings, LLC6,309 


105
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Winter Services LLC5,556 
AGS American Glass Services Acquisition, LLC5,360 
SI East, LLC5,250 
GradeEight Corp.4,866 
PavCon LLC4,650 
Direct Marketing Solutions, Inc.4,250 
Hawk Ridge Systems, LLC4,105 
UBM AcquireCo LLC4,000 
CGMS Parent LLC4,000 
Infinity X1 Holdings, LLC4,000 
Chamberlin Holding LLC4,000 
Pro-Max Restoration & Paint, LLC3,607 
Microbe Formulas, LLC3,601 
MS Private Loan Fund I, LP3,520 
IG Investor, LLC3,200 
Garyline, LLC3,029 
Cody Pools, Inc.2,950 
Hornblower Sub, LLC2,945 
Rug Doctor, LLC.2,804 
ZRG Partners, LLC2,779 
Career Team Holdings, LLC2,700 
GS HVAM Intermediate, LLC2,667 
Nearshore AcquireCo, LLC2,500 
IG Parent Corporation2,347 
CQ Fluency, LLC2,250 
KMS, LLC2,171 
Revenue Recovery Holdings, LLC2,000 
Coregistics Buyer LLC1,908 
Iron-Main Investments, LLC1,600 
Pinnacle TopCo, LLC1,600 
Colonial Electric Company LLC1,600 
MCT Purchaserco Holding Inc.1,308 
Victory Energy Operations, LLC1,292 
Shift Transit ParentCo, LP1,250 
Watterson Brands, LLC1,207 
Clad-Rex Steel, LLC1,200 
Legacy Swim Group1,195 
B-O-F Corporation1,161 
Bond Brand Loyalty ULC1,142 
SPAU Holdings, LLC1,086 
American Health Staffing Group, Inc.1,000 
Gulf Manufacturing, LLC1,000 
RFG AcquireCo, LLC1,000 
Channel Partners Intermediateco, LLC932 
Escalent, Inc.901 


106
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


ATS Operating, LLC900 
Insight Borrower Corporation823 
Computer Data Source, LLC713 
Adams Publishing Group, LLC628 
Invincible Boat Company, LLC.622 
Behavior Development Group Holdings600 
Jensen Jewelers of Idaho, LLC500 
Roof Opco, LLC311 
GULF PACIFIC ACQUISITION, LLC252 
ArborWorks, LLC182 
Wash & Wax Systems LLC161 
Obra Capital, Inc.148 
Implus Footcare, LLC136 
Titan Meter Midco Corp.36 
Total Loan Commitments$363,627 
Total Commitments$395,391 
As of December 31, 2025, Main Street had the following outstanding commitments (in thousands):
Investments with equity capital commitments that have not yet funded:December 31, 2025
Brightwood Capital Fund Investments
Brightwood Capital Fund V, LP$100 
Brightwood Capital Fund III, LP65 
165 
EnCap Equity - Fund XII, LP3,672 
Harris Preston Fund Investments
HPEP 4, L.P.5,742 
HPEP 3, L.P.1,308 
423 AER II, LP147 
2717 HPP-MS, LP44 
7,241 
MS Private Loan Fund II, LP4,500 
UnionRock Energy Fund Investments
UnionRock Energy Fund III, LP4,782 
UnionRock Energy Fund II, LP2,751 
7,533 
Total Equity Commitments (1)(2)$23,111 


107
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Investments with commitments to fund revolving loans that have not been fully drawn or term loans with additional commitments not yet funded:
Royal Cup Inc.$76,143 
Auria Space, LLC72,205 
CRC Evans USA Bidco, Inc.31,328 
Mission Critical Group24,343 
TEC Services, LLC16,167 
Creative Foam Corporation15,375 
ZRG Partners, LLC12,559 
MS Private Loan Fund II, LP10,000 
Core Transformers9,404 
Flame King Holdings, LLC8,000 
Airo Purchaser, Inc.7,884 
South Coast Terminals Holdings, LLC7,160 
Richardson Sales Solutions6,453 
AVEX Aviation Holdings, LLC6,309 
AGS American Glass Services Acquisition, LLC5,360 
BP Loenbro Holdings Inc.5,332 
MCT Purchaserco Holding Inc.5,295 
SI East, LLC5,250 
Garyline, LLC5,082 
GradeEight Corp.5,004 
Gulf Manufacturing, LLC5,000 
Electro Technical Industries, LLC4,588 
Cody Pools, Inc.4,214 
UBM AcquireCo LLC4,000 
Chamberlin Holding LLC4,000 
CGMS Parent LLC4,000 
Microbe Formulas, LLC3,601 
SPAU Holdings, LLC3,194 
MS Private Loan Fund I, LP3,000 
KMS, LLC2,714 
Career Team Holdings, LLC2,700 
Bettercloud, Inc.2,594 
Victory Energy Operations, LLC2,585 
IG Parent Corporation2,500 
Nearshore AcquireCo, LLC2,500 
Centre Technologies Holdings, LLC2,400 
IG Investor, LLC2,400 
CQ Fluency, LLC2,250 
Titan Meter Midco Corp.2,159 
Bluestem Brands, Inc.2,154 
FRG AcquireCo, LLC2,000 
Revenue Recovery Holdings, LLC2,000 


108
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Coregistics Buyer LLC1,908 
Rug Doctor, LLC.1,904 
CenterPeak Holdings, LLC1,800 
Pinnacle TopCo, LLC1,600 
Colonial Electric Company LLC1,600 
Trantech Radiator Topco, LLC1,600 
Winter Services LLC1,556 
Behavior Development Group Holdings1,500 
Escalent, Inc.1,326 
Gamber-Johnson Holdings, LLC1,200 
Clad-Rex Steel, LLC1,200 
B-O-F Corporation1,161 
Insight Borrower Corporation1,132 
Channel Partners Intermediateco, LLC1,036 
American Health Staffing Group, Inc.1,000 
RFG AcquireCo, LLC1,000 
Bond Brand Loyalty ULC856 
ATS Operating, LLC540 
AAC Holdings, Inc.527 
ArborWorks, LLC510 
Jensen Jewelers of Idaho, LLC500 
RA Outdoors LLC453 
Roof Opco, LLC311 
Mini Melts of America, LLC299 
Implus Footcare, LLC176 
Wash & Wax Systems LLC161 
GULF PACIFIC ACQUISITION, LLC151 
Obra Capital, Inc.148 
Hornblower Sub, LLC112 
Invincible Boat Company, LLC.104 
Total Loan Commitments$428,577 
Total Commitments$451,688 
___________________________
(1)As of both June 30, 2026 and December 31, 2025, this table excludes commitments related to four additional Other Portfolio investments for which the investment period has expired and the remaining commitments may only be drawn to pay fund expenses. The Company does not expect any material future capital to be called on its commitment to these investments and as a result has excluded those commitments from this table.
(2)As of both June 30, 2026 and December 31, 2025, this table excludes commitments related to five additional Other Portfolio investments for which the investment period has expired and the remaining commitments may only be drawn to pay fund expenses or for follow-on investments in existing portfolio companies. The Company does not expect any material future capital to be called on its commitment to these investments to pay fund expenses, and based on representations from the fund manager, the Company does not expect any further capital will be called on its commitment for follow-on investments. As a result, the Company has excluded those commitments from this table.


109
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


Main Street will fund its unfunded commitments from the same sources it uses to fund its investment commitments that are funded at the time they are made (which are typically through existing cash and cash equivalents and borrowings under the Credit Facilities). Main Street follows a process to manage its liquidity and ensure that it has available capital to fund its unfunded commitments as necessary. The Company had no unrealized appreciation or depreciation on the outstanding unfunded commitments as of June 30, 2026 or December 31, 2025.
Main Street may, from time to time, be involved in litigation arising out of its operations in the normal course of business or otherwise. Furthermore, third parties may seek to impose liability on Main Street in connection with the activities of its portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, Main Street does not expect any current matters will materially affect its financial condition or results of operations; however, there can be no assurance whether any pending or future legal proceedings will have a material adverse effect on Main Street’s financial condition or results of operations in any future reporting period.
NOTE L — RELATED PARTY TRANSACTIONS
As discussed further in Note D — External Investment Manager, the External Investment Manager is treated as a wholly-owned portfolio company of Main Street and is included as part of Main Street’s Investment Portfolio. As of June 30, 2026, Main Street had a receivable of $12.3 million due from the External Investment Manager, which included (i) $10.2 million related primarily to operating expenses incurred by Main Street as required to support the External Investment Manager’s business and amounts due from the External Investment Manager to Main Street under a tax sharing agreement (see further discussion in Note D — External Investment Manager) and (ii) $2.1 million of dividends declared but not paid by the External Investment Manager. MSCC has entered into an agreement with the External Investment Manager to share employees in connection with its asset management business generally, and specifically for the External Investment Manager’s relationship with MSC Income and its other clients (see further discussion in Note A.1. — Organization and Basis of Presentation — Organization and Note D — External Investment Manager).
From time to time, Main Street may make investments in clients of the External Investment Manager in the form of debt or equity capital on terms approved by Main Street’s Board of Directors, including each director who is not an “interested person,” as such term is defined in Section 2(a)(19) of the 1940 Act, of Main Street.
As of June 30, 2026, Main Street owned 2,025,220 shares of MSC Income’s common stock. In January 2025, in connection with Main Street’s acquisition in excess of 3% of MSC Income’s outstanding shares of common stock, Main Street entered into a Fund of Funds Investment Agreement with MSC Income (the “Fund of Funds Investment Agreement”). The Fund of Funds Investment Agreement provides for the acquisition by Main Street of MSC Income’s shares of common stock, and MSC Income’s sale of such shares to Main Street, in a manner consistent with the requirements of Rule 12d1-4 under the 1940 Act.
In the first quarter of 2026, Main Street provided MSC Income with a revolving line of credit pursuant to an Unsecured Revolving Promissory Note (as amended, restated or otherwise modified, the “MSIF Note”), which currently provides for borrowings up to $30.0 million. Borrowings under the MSIF Note bear interest at a rate of SOFR plus 4.5%, subject to a 2.0% SOFR floor and mature in December 2029. Available borrowings under the MSIF Note are subject to a 0.25% non-use fee. The borrowings under the MSIF Note are unsecured. The MSIF Note was unanimously approved by the Board of Directors, including each director who is not an “interested person,” as such term is defined in Section 2(a)(19) of the 1940 Act, of Main Street. As of June 30, 2026, there were no borrowings outstanding under the MSIF Note.


110
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


In December 2020, the External Investment Manager entered into an investment management agreement with Private Loan Fund I to provide investment advisory and management services in exchange for an asset-based fee and certain incentive fees. Private Loan Fund I is a private investment fund exempt from registration under the 1940 Act that co-invests with Main Street in Main Street’s Private Loan investment strategy. In connection with Private Loan Fund I’s initial closing in December 2020, Main Street committed to contribute up to $10.0 million as a limited partner and is entitled to distributions on such interest. In February 2022, Main Street increased its total commitment to Private Loan Fund I from $10.0 million to $15.0 million. In addition, certain of Main Street’s officers and employees (and certain of their immediate family members) have made capital commitments to Private Loan Fund I as limited partners and therefore have direct pecuniary interests in Private Loan Fund I. As of June 30, 2026, Main Street had funded the entire $15.0 million of its limited partner commitment. Main Street’s limited partner commitment to Private Loan Fund I was unanimously approved by the Board of Directors, including each director who is not an “interested person,” as such term is defined in Section 2(a)(19) of the 1940 Act, of Main Street.
In March 2022, Main Street provided Private Loan Fund I with a revolving line of credit pursuant to a Secured Revolving Promissory Note (as amended, restated or otherwise modified, the “PL Fund 2022 Note”), which currently provides for borrowings up to $20.0 million. Borrowings under the PL Fund 2022 Note bear interest at a rate of SOFR plus 3.0%, subject to a 2.0% SOFR floor, can be advanced through March 2031 and mature in March 2031. Available borrowings under the PL Fund 2022 Note are subject to a 0.25% non-use fee. The borrowings under the PL Fund 2022 Note are collateralized by all assets of Private Loan Fund I (other than the assets of its special purpose vehicle financing subsidiary). The PL Fund 2022 Note was unanimously approved by Main Street’s Board of Directors, including each director who is not an “interested person,” as such term is defined in Section 2(a)(19) of the 1940 Act, of Main Street. As of June 30, 2026, there were $16.5 million of borrowings outstanding under the PL Fund 2022 Note.
In September 2023, the External Investment Manager entered into an investment management agreement with Private Loan Fund II to provide investment advisory and management services in exchange for an asset-based fee and certain incentive fees. Private Loan Fund II is a private investment fund exempt from registration under the 1940 Act that co-invests with Main Street in Main Street’s Private Loan investment strategy. In connection with Private Loan Fund II’s initial closing in September 2023, Main Street committed to contribute up to $15.0 million (limited to 20% of total commitments) as a limited partner and is entitled to distributions on such interest. In addition, certain of Main Street’s officers and employees (and certain of their immediate family members) have made capital commitments to Private Loan Fund II as limited partners and therefore have direct pecuniary interests in Private Loan Fund II. As of June 30, 2026, Main Street has funded $10.5 million of its limited partner commitment and Main Street’s unfunded commitment was $4.5 million. Main Street’s limited partner commitment to Private Loan Fund II was unanimously approved by the Board of Directors, including each director who is not an “interested person,” as such term is defined in Section 2(a)(19) of the 1940 Act, of Main Street.
In November 2024, Main Street provided Private Loan Fund II with a revolving line of credit pursuant to a Secured Revolving Promissory Note (as amended, restated or otherwise modified, the “PL Fund II 2024 Note”), which currently provides for borrowings up to $10.0 million. Borrowings under the PL Fund II 2024 Note bear interest at a rate of SOFR plus 3.0%, subject to a 2.0% SOFR floor, and mature on the date upon which Private Loan Fund II’s investment period concludes, which is scheduled to occur in June 2029. Available borrowings under the PL Fund II 2024 Note are subject to a 0.25% non-use fee. The borrowings under the PL Fund II 2024 Note are collateralized by all assets of Private Loan Fund II (other than the assets of its special purpose vehicle financing subsidiary). The PL Fund II 2024 Note was unanimously approved by Main Street’s Board of Directors, including each director who is not an “interested person,” as such term is defined in Section 2(a)(19) of the 1940 Act, of Main Street. As of June 30, 2026, there were no borrowings outstanding under the PL Fund II 2024 Note.


111
Table of contents
MAIN STREET CAPITAL CORPORATION
Notes to the Consolidated Financial Statements (Continued)
(Unaudited)


As described in Note B.9. — Summary of Significant Accounting Policies — Deferred Compensation Plan, participants in the Deferred Compensation Plan elect one or more investment options, including phantom Main Street stock units, interests in affiliated funds and various mutual funds, where their deferred amounts are notionally invested pending distribution pursuant to participant elections and plan terms. As of June 30, 2026, $34.5 million of directors’ fees and employee compensation, plus net unrealized gains and losses and investment income, and minus previous distributions, was deferred under the Deferred Compensation Plan. As of June 30, 2026, $10.9 million was deferred into phantom Main Street stock units, representing 209,678 shares of Main Street’s common stock. In addition, as of June 30, 2026, the Company had $23.6 million of funded investments from deferred compensation in trust, including $2.2 million in Private Loan Fund I and $5.3 million in Private Loan Fund II.
NOTE M — SUBSEQUENT EVENTS
The Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements, and identified the following to report:
In August 2026, Main Street declared a supplemental dividend of $0.30 per share payable in September 2026. This supplemental dividend is in addition to the previously announced regular monthly dividends that Main Street declared of $0.265 per share for each month of July, August and September 2026, or total regular monthly dividends of $0.795 per share for the third quarter of 2026, resulting in total dividends declared for the third quarter of 2026 of $1.095 per share.

In August 2026, Main Street also declared regular monthly dividends of $0.265 per share for each month of October, November and December of 2026. These regular monthly dividends equal a total of $0.795 per share for the fourth quarter of 2026, representing a 3.9% increase from the regular monthly dividends paid in the fourth quarter of 2025. Including the regular monthly and supplemental dividends declared through the fourth quarter of 2026, Main Street will have paid $51.205 per share in cumulative dividends since its October 2007 initial public offering.
In August 2026, Main Street’s Board of Directors authorized the Company to enter into a share purchase plan to purchase up to $20.0 million of shares of MSC Income’s common stock in the open market for a period beginning in September 2026 and ending in February 2027 at times when the market price per share of MSC Income’s common stock is trading below the most recently reported NAV per share of the common stock by certain pre-determined levels. The purchases of shares of MSC Income common stock pursuant to the share purchase plan are intended to satisfy the conditions of Rule 10b5-1 and Rule 10b-18 under the Exchange Act and will otherwise be subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. MSC Income’s board of directors also authorized MSC Income to enter into a share repurchase plan to purchase up to $20.0 million of shares of its common stock, with the terms and conditions substantially similar between Main Street’s share purchase plan for shares of MSC Income common stock and MSC Income’s share repurchase plan, and daily purchases under the two plans, if any, are expected to be split pro rata (or as close thereto as reasonably possible) between Main Street and MSC Income based on the respective plan sizes.


112
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
Majority-Owned Investments
BDB Holdings, LLCPreferred Equity(7)$— $(6,190)$— $12,640 $— $6,190 $6,450 
12.00%Secured Debt(7)— — 131 1,773 801 — 2,574 
Bettercloud, Inc.SF+8.25%Secured Debt(6)— — 310 6,017 2,307 8,324 — 
Common Equity(6)(5,704)1,200 — 15,690 1,200 16,890 — 
Brewer Crane Holdings, LLC13.72%SF+10.00%Secured Debt(9)— — 347 5,016 — — 5,016 
Preferred Member Units(9)— (410)60 3,460 — 410 3,050 
15.00%15.00%Preferred Member Units(9)— — 32 336 24 — 360 
California Splendor Holdings LLC14.00%Secured Debt(9)— (249)1,820 25,638 4 249 25,393 
Secured Debt(9)— — 2 (11)2 — (9)
Preferred Member Units(9)— (4,410)— 12,801 — 4,410 8,391 
15.00%15.00%Preferred Member Units(9)— — 1,129 12,569 4,129 — 16,698 
Clad-Rex Steel, LLCSecured Debt (12)(5)— — 10 — — — — 
10.00%Secured Debt(5)— (12)473 9,480 12 588 8,904 
10.00%Secured Debt(5)— — 46 929 — 24 905 
Member Units(5)— 770 695 14,120 770 — 14,890 
Member Units(5)— 240 — 1,270 240 — 1,510 
Cody Pools, Inc.12.50%Secured Debt (12)(8)— 1 57 — 3,371 2,107 1,264 
12.50%Secured Debt(8)— (76)2,209 34,901 76 1,359 33,618 
Preferred Member Units(8)— (1,670)787 65,060 — 1,670 63,390 
CompareNetworks Topco, LLC14.72%SF+11.00%Secured Debt(9)— (58)300 4,031 1 95 3,937 
Preferred Member Units(9)— (5,030)— 7,650 — 5,030 2,620 
Compass Systems & Sales, LLCSecured Debt(5)— — 3 (15)2 — (13)
13.50%Secured Debt(5)— 139 1,155 16,961 166 2,198 14,929 
Preferred Equity(5)— 274 120 7,180 662 — 7,842 
Cybermedia Technologies, LLCSecured Debt(6)— — 5 — — — — 
13.00%Secured Debt(6)— (250)1,773 27,076 30 1,011 26,095 
Preferred Member Units(6)— 770 125 — 770 — 770 
Preferred Equity(6)— 570 — 6,340 570 — 6,910 
Datacom, LLC10.00%Secured Debt(8)— — 30 675 405 135 945 
10.00%Secured Debt(8)— (1,859)389 4,169 — 1,954 2,215 
Preferred Member Units(8)— — — — — — — 
Direct Marketing Solutions, Inc.Secured Debt (12)(9)— 26 141 1,785 1,615 3,400 — 
Secured Debt(9)— (3)281 23,082 — 23,082 — 
14.00%Secured Debt(9)— 321 3,265 — 43,857 — 43,857 
Preferred Stock(9)— 7,544 8 19,760 12,344 160 31,944 
Gamber-Johnson Holdings, LLC11.12%SF+7.50%Secured Debt(5)— — 63 — 1,600 — 1,600 
11.12%SF+7.50%Secured Debt(5)— — 4,307 70,526 4,440 — 74,966 
Member Units(5)— 10,650 2,518 113,810 10,650 — 124,460 
Member Units(5)— — — 396 — 92 304 
Garreco, LLCMember Units(8)— (490)— 1,830 — 490 1,340 
GRT Rubber Technologies LLC9.72%SF+6.00%Secured Debt(8)— (2)157 3,146 2 2 3,146 
11.72%SF+8.00%Secured Debt(8)— (23)2,423 40,493 23 23 40,493 
Member Units(8)— (3,450)1,643 46,360 — 3,450 42,910 


113
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
IG Investor, LLC13.00%Secured Debt (12)(6)— (4)83 1,600 4 804 800 
13.00%Secured Debt(6)— (41)2,271 35,064 41 1,641 33,464 
Common Equity(6)— 3,170 — 28,030 3,170 — 31,200 
Jensen Jewelers of Idaho, LLCP+6.75%Secured Debt (12)(9)— — — — — — — 
13.50%P+6.75%Secured Debt(9)— — 54 878 — 300 578 
Member Units(9)— 730 606 11,540 730 — 12,270 
Kickhaefer Manufacturing Company, LLC11.50%Secured Debt(5)— — 615 10,195 12,202 10,995 11,402 
9.00%Secured Debt(5)— — 176 3,878 1 26 3,853 
Preferred Equity(5)— 2,670 — 17,180 2,670 — 19,850 
Member Units(5)— — 48 4,190 — — 4,190 
MSC Adviser I, LLCMember Units(8)— (29,820)4,952 255,020 — 29,820 225,200 
NRP Jones, LLC12.00%Secured Debt(5)— (105)— 474 — 105 369 
Member Units(5)— — — — — — — 
Member Units(5)— — — — — — — 
Preferred Equity(5)— — — — — — — 
Common Equity(5)— — — 928 — — 928 
OMi Topco, LLC12.00%Secured Debt(8)— (6)1,755 29,000 6 6 29,000 
Preferred Member Units(8)— (600)6,166 77,900 — 600 77,300 
Principle Environmental, LLC13.00%Secured Debt(8)— (10)330 4,897 10 10 4,897 
Preferred Member Units(8)— — 2,086 15,740 — — 15,740 
Common Stock(8)— — — 750 — — 750 
Quality Lease Service, LLCMember Units(7)— 54 — 460 54 37 477 
Robbins Bros. Jewelry, Inc.Secured Debt(9)— — 96 (62)— 11 (73)
12.50%10.00%Secured Debt(9)— 238 — 14,029 — 188 13,841 
Preferred Equity(9)— — — — — — — 
Trantech Radiator Topco, LLC11.50%Secured Debt(7)— — 51 — 1,600 — 1,600 
Secured Debt(7)— (41)240 9,000 — 9,000 — 
13.50%Secured Debt(7)— 209 1,690 — 31,280 — 31,280 
Common Stock(7)— 11,164 — 14,920 12,530 — 27,450 
Common Equity(7)— — — 696 — — 696 
9.00%Secured Debt(7)— (2)94 2,040 2 2 2,040 
9.00%Secured Debt(7)— 8 52 — 2,100 — 2,100 
9.00%Secured Debt(7)— 1 10 — 400 — 400 
Victory Energy Operations, LLC13.00%Secured Debt (12)(8)— — 131 836 1,727 431 2,132 
13.00%Secured Debt(8)— — 3,202 47,889 48 — 47,937 
Preferred Equity(8)— 1,830 215 23,380 1,830 — 25,210 
Volusion, LLC10.00%Secured Debt(8)— — 106 2,100 — — 2,100 
Preferred Member Units(8)— — — — — — — 
Preferred Member Units(8)— (563)— 2,910 — 1,164 1,746 
Common Stock(8)— — — — — — — 
Ziegler’s NYPD, LLC12.00%Secured Debt(8)— — 9 150 — — 150 
12.00%Secured Debt(8)— (54)106 1,687 — 54 1,633 
Preferred Member Units(8)— (50)— 50 — 50 — 
Other Controlled Investments


114
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
American Nuts, LLCPreferred Equity(9)$— $(470)$— $4,250 $— $470 $3,780 
12.34%SF+8.50%12.34%Secured Debt(9)— — 514 8,161 514 — 8,675 
12.34%SF+8.50%12.34%Secured Debt(9)— 110 514 6,582 623 — 7,205 
12.34%SF+8.50%12.34%Secured Debt(9)— — 10 — 321 — 321 
Analytical Systems Keco Holdings, LLC13.25%Secured Debt(8)— — 255 3,860 6 203 3,663 
Preferred Member Units(8)— 480 — 120 480 — 600 
Preferred Member Units(8)— — — 6,030 — — 6,030 
Warrants(8)— — — — — — — 
ASC Interests, LLCSecured Debt(8)— — 10 400 — 400 — 
Secured Debt(8)— 30 37 1,502 30 1,532 — 
Preferred Member Units(8)(88)178 — — 178 178 — 
Member Units(8)(1,500)1,500 — — 1,500 1,500 — 
Batjer TopCo, LLCSecured Debt(8)— (1)1 — 1 1 — 
10.00%Secured Debt(8)— (10)505 9,945 10 122 9,833 
Preferred Stock(8)— 750 761 8,750 750 — 9,500 
Bolder Panther Group, LLC11.98%SF+8.36%Secured Debt(9)— (66)6,197 101,046 66 66 101,046 
8.00%Class B Preferred Member Units(9)— 910 1,472 31,190 910 — 32,100 
Secured Debt(9)— — 37 — — — — 
Bridge Capital Solutions CorporationPreferred Member Units(6)— — — — — — — 
Warrants(6)— — — — — — — 
Warrants(6)— — — — — — — 
CBT Nuggets, LLCMember Units(9)— (5,760)825 47,930 — 5,760 42,170 
Centre Technologies Holdings, LLCSF+8.00%Secured Debt(8)— — 8 — 240 240 — 
SF+8.00%Secured Debt(8)— (26)1,409 24,085 6,826 30,911 — 
Preferred Member Units(8)46,401 (36,324)2,441 42,710 42,401 85,111 — 
Chamberlin Holding LLCSF+6.00%Secured Debt (12)(8)— (6)18 — 6 6 — 
11.74%SF+8.00%Secured Debt(8)— (42)2,518 42,020 42 842 41,220 
Member Units(8)— 9,910 3,092 35,530 9,910 — 45,440 
Member Units(8)— 160 46 4,170 160 — 4,330 
Charps, LLC14.00%Unsecured Debt(5)— (52)448 5,694 52 52 5,694 
Preferred Member Units(5)— (840)490 16,020 — 840 15,180 
Colonial Electric Company LLCSecured Debt (12)(6)— — 4 — — — — 
9.00%Secured Debt(6)— 76 417 8,779 — — 8,779 
Preferred Member Units(6)— 5,280 2,026 16,830 5,280 — 22,110 
Copper Trail Fund InvestmentsLP Interests (CTMH, LP)(9)— 65 — 390 65 75 380 
Digital Products Holdings LLC13.62%SF+10.00%Secured Debt(5)— 606 827 11,338 561 330 11,569 
Preferred Member Units(5)— — 100 9,835 — — 9,835 
Doral Holdings, LLCPreferred Equity(5)— 16,410 1,102 15,740 16,410 — 32,150 
11.00%Secured Debt(5)— 166 1,575 26,270 231 5,001 21,500 
Elgin AcquireCo, LLCSF+6.00%Secured Debt(5)— — 4 (3)1 — (2)
12.00%Secured Debt(5)— (62)1,024 16,719 17 178 16,558 
9.00%Secured Debt(5)— — 280 6,156 1 28 6,129 
Common Stock(5)— (970)— 5,050 — 970 4,080 


115
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
Common Stock(5)— 130 — 3,270 130 — 3,400 
Flame King Holdings, LLCPreferred Equity(9)— 3,290 2,529 54,630 3,290 — 57,920 
12.00%Secured Debt(9)— (65)4,049 66,000 65 65 66,000 
Common Equity(9)— — 52 — 3,929 — 3,929 
Harris Preston Fund InvestmentsLP Interests (2717 MH, L.P.)(8)— 70 — 1,795 70 — 1,865 
LP Interests (2717 HPP-MS, L.P.) (12)(8)— (190)282 447 — 190 257 
LP Interests (2717 GRE-LP, L.P.)(8)— 75 — 441 75 — 516 
LP Interests (423 COR, L.P.)(8)— (250)— 5,244 — 250 4,994 
Harrison Hydra-Gen, Ltd.Common Stock(8)— (580)— 7,080 — 580 6,500 
JTI Electrical & Mechanical, LLC9.89%SF+6.00%9.89%Secured Debt(9)— (28,744)— 36,429 — 28,744 7,685 
15.00%15.00%Secured Debt(9)— (939)— 939 — 939 — 
8.89%SF+5.00%8.89%Secured Debt(9)— (249)— 6,316 — 36 6,280 
Common Equity(9)— — — — — — — 
JorVet Holdings, LLC12.00%Secured Debt(9)— — 1,430 23,263 23 — 23,286 
Preferred Equity(9)— 2,750 241 10,990 2,750 — 13,740 
KBK Industries, LLCMember Units(5)17,327 (17,396)1,603 18,180 17,327 35,507 — 
Secured Debt(5)— — — — — — — 
Secured Debt(5)— (34)51 7,200 34 7,234 — 
Legacy Swim Group13.00%Secured Debt(7)— — 2,124 31,691 32 — 31,723 
Preferred Equity(7)— — 186 14,996 — — 14,996 
13.00%Secured Debt (12)(7)— — 58 — 789 — 789 
Metalforming Holdings, LLCSecured Debt(7)— 9 10 — — — — 
8.75%Secured Debt(7)— (17)775 17,237 17 17 17,237 
8.00%8.00%Preferred Equity(7)— — 251 5,916 — — 5,916 
Common Stock(7)— 900 972 9,770 900 — 10,670 
Moffitt Holdings, LLC13.00%Secured Debt(8)— — 2,227 33,840 40 875 33,005 
Preferred Equity(8)— — 10 15,560 — — 15,560 
MS Private Loan Fund I, LP6.62%SF+3.00%Secured Debt (12)(8)— — 430 12,000 8,480 4,000 16,480 
LP Interests(8)— (502)653 14,697 — 502 14,195 
MS Private Loan Fund II, LPSF+3.00%Secured Debt (12)(8)— — 25 (84)263 250 (71)
LP Interests (12)(8)— 439 935 11,064 439 — 11,503 
MSC Income Fund, Inc.Common Equity(8)— (2,910)729 21,412 4,930 2,910 23,432 
SF+4.50%Secured Debt (12)(8)— — 92 — 23,863 24,000 (137)
MVI MSO, LLC13.00%Secured Debt(6)— — 653 9,768 9 — 9,777 
Preferred Equity(6)— (1,340)101 4,770 — 1,340 3,430 
NAPCO Precast, LLCMember Units(8)— (4,220)63 14,480 — 4,220 10,260 
Member Units(8)— 52 15 568 52 — 620 
Nello Industries Investco, LLCSecured Debt(5)— (205)550 32,072 — 32,072 — 
13.00%Secured Debt(5)— 189 2,250 — 41,344 — 41,344 
Preferred Equity(5)— 6,220 410 23,330 6,220 — 29,550 
NexRev LLCPreferred Member Units(8)— 480 40 12,870 480 — 13,350 
NuStep, LLC10.22%SF+6.50%Secured Debt(5)— — 144 1,000 1,600 — 2,600 


116
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
12.00%Secured Debt(5)— (495)1,148 18,440 — 751 17,689 
Preferred Member Units(5)— (2,160)— 12,200 — 2,160 10,040 
Preferred Member Units(5)— 360 — 6,110 360 — 6,470 
Orttech Holdings, LLCSF+11.00%Secured Debt(5)— — 16 612 — 612 — 
14.72%SF+11.00%Secured Debt(5)— (21)1,564 20,760 21 21 20,760 
Preferred Stock(5)— (3,110)120 13,450 — 3,110 10,340 
Pinnacle TopCo, LLCSecured Debt (12)(8)— (2)6 — 2 2 — 
13.00%Secured Debt(8)— (33)1,760 27,200 33 1,153 26,080 
Preferred Equity(8)— — 392 20,440 — — 20,440 
PPL RVs, Inc.SF+8.75%Secured Debt(8)— (1)1 — 1 1 — 
12.54%SF+8.75%Secured Debt(8)— (18)980 15,191 18 18 15,191 
Common Stock(8)— (1,270)— 17,330 — 1,270 16,060 
Common Stock(8)— 103 — 575 103 — 678 
River Aggregates, LLCMember Units(8)(75)80 25 9,700 80 — 9,780 
Spring Engineering Holdings, LLC13.00%Secured Debt(7)— — 1,534 — 23,176 — 23,176 
Preferred Member Units(7)— — — — 4,650 — 4,650 
Shift Transit ParentCo, LPPreferred Equity(5)— — — — 12,000 — 12,000 
13.00%Secured Debt(5)— — 816 — 17,632 — 17,632 
13.00%Secured Debt(5)— — 468 — 10,104 — 10,104 
13.00%Secured Debt (12)(5)— — 101 — 1,734 — 1,734 
Tedder Industries, LLC12.00%12.00%Secured Debt(9)— (82)475 962 475 82 1,355 
12.00%12.00%Secured Debt(9)— 3,000 — 2,827 3,001 — 5,828 
Preferred Member Units(9)— — — — — — — 
Preferred Member Units(9)— — — — — — — 
Preferred Member Units(9)— — — — — — — 
Televerde, LLCMember Units(8)— (4,210)— 4,822 — 4,210 612 
Preferred Stock(8)— — — 1,794 — — 1,794 
Trinity Medical Holdings, LLC13.00%Secured Debt(7)— 497 3,882 57,944 556 — 58,500 
Preferred Equity(7)— 10,690 300 22,500 10,690 — 33,190 
VVS Holdco LLCSF+6.00%Secured Debt(5)— — 8 — — — — 
11.50%Secured Debt(5)— — 1,385 23,956 25 1,200 22,781 
Preferred Equity(5)— — — 12,240 — — 12,240 
Other
Amounts related to investments transferred to or from other 1940 Act classification during the period— — — — — — — 
Total Control investments$56,361 $(60,606)$119,846 $2,569,626 $449,882 $431,724 $2,587,784 
Affiliate Investments
AAC Holdings, Inc.20.00%20.00%Secured Debt(7)$— $— $94 $895 $93 $— $988 
Preferred Equity(7)— (2,080)— 2,080 — 2,080 — 
20.00%20.00%Secured Debt(7)— (1,372)— 2,756 — 1,371 1,385 
20.00%20.00%Secured Debt(7)— (1,372)— 2,756 — 1,371 1,385 
Common Stock(7)— — — — — — — 
21.00%21.00%Secured Debt(7)— 101 107 503 638 — 1,141 
21.00%21.00%Secured Debt(7)— 270 52 — 1,364 — 1,364 


117
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
BLI Acquisition, LLC14.00%Secured Debt(7)— — 1,040 — 13,079 — 13,079 
Member Units(7)— — — — 2,100 — 2,100 
Boccella Precast Products LLC10.00%Secured Debt(6)— — 33 256 — — 256 
Member Units(6)— (190)60 2,820 — 190 2,630 
Buca C, LLC15.00%15.00%Secured Debt(7)— — — — — — — 
6.00%6.00%Preferred Member Units(7)— — — — — — — 
15.00%15.00%Secured Debt(7)— (83)— — 83 83 — 
Career Team Holdings, LLCSF+6.00%Secured Debt (12)(6)— — 18 (45)455 450 (40)
13.00%Secured Debt(6)— — 1,471 21,551 — 35 21,516 
Common Stock(6)— (204)— 5,370 240 204 5,406 
CGMS Parent LLC13.00%Secured Debt(6)— — 1,646 24,754 27 312 24,469 
Secured Debt (12)(6)— — 14 (39)4 — (35)
Preferred Equity(6)— — 357 10,000 — — 10,000 
Classic H&G Holdings, LLCPreferred Member Units(6)— — — 2,040 — — 2,040 
Congruent Credit Opportunities FundsLP Interests (Congruent Credit Opportunities Fund III, LP)(8)— 812 — 24 812 — 836 
Connect Telecommunications Solutions Holdings, Inc.13.00%Secured Debt(6)— — 1,559 24,153 33 1,261 22,925 
Preferred Equity(6)— — — 12,596 — — 12,596 
DMA Industries, LLC13.00%Secured Debt(7)— (7)747 12,800 7 7 12,800 
Preferred Equity(7)— 6,710 — 9,174 6,710 — 15,884 
13.00%Secured Debt(7)— 22 208 560 4,082 — 4,642 
15.00%15.00%Preferred Equity(7)— 3,460 292 5,424 3,744 — 9,168 
Dos Rios PartnersLP Interests (Dos Rios Partners, LP)(8)— (1,004)— 8,027 — 1,141 6,886 
LP Interests (Dos Rios Partners - A, LP)(8)— (319)— 2,549 — 362 2,187 
Dos Rios Stone Products LLCClass A Preferred Units(8)— — — — — — — 
EIG Fund InvestmentsLP Interests (EIG Global Private Debt Fund-A, L.P.)(8)— (37)— 37 — 37 — 
FCC Intermediate Holdco, LLC13.00%Secured Debt(5)— (458)2,454 31,160 458 1,278 30,340 
Warrants(5)— (1,540)360 15,140 — 1,540 13,600 
Freeport Financial FundsLP Interests (Freeport Financial SBIC Fund LP)(5)— (201)— 1,600 — 896 704 
LP Interests (Freeport First Lien Loan Fund III LP)(5)— — — 193 — 85 108 
FRG AcquireCo, LLCSecured Debt(7)— — 7 (19)4 — (15)
13.50%Secured Debt(7)— — 655 10,402 27 2,018 8,411 
Preferred Equity(7)— — — 3,500 — — 3,500 
GFG Group, LLC13.50%Secured Debt(5)— 111 748 14,053 120 — 14,173 
Preferred Member Units(5)— — 306 10,940 — — 10,940 
Gulf Manufacturing, LLC11.76%SF+8.13%Secured Debt (12)(8)— (60)131 (32)4,005 60 3,913 
11.76%SF+8.13%Secured Debt(8)— — 2,358 36,784 165 1,000 35,949 
Member Units(8)— (2,970)367 6,600 — 2,970 3,630 
Common Stock(8)— 80 36 1,450 80 — 1,530 


118
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
Preferred Equity(8)— — — 5,190 — — 5,190 
Harris Preston Fund InvestmentsLP Interests (423 HAR, L.P.)(8)— 76 — 1,226 76 — 1,302 
LP Interests (HPEP 3, L.P.)(12)(8)— (58)— 4,116 — 310 3,806 
LP Interests (HPEP 4, L.P.)(12)(8)— 870 — 7,463 2,154 — 9,617 
Hawk Ridge Systems, LLCSecured Debt(9)— — — 3,219 — 3,219 — 
SF+6.00%Secured Debt (12)(9)— 21 33 — 1,852 1,852 — 
Secured Debt(9)— — — 45,256 — 45,256 — 
12.00%Secured Debt(9)— 247 3,267 — 49,871 — 49,871 
Preferred Member Units(9)— — — 26,310 — — 26,310 
Preferred Member Units(9)— — — 1,380 — — 1,380 
Houston Plating and Coatings, LLC10.00%Unsecured Convertible Debt(8)— 28 153 3,000 1 1 3,000 
Member Units(8)— (530)98 3,720 — 530 3,190 
Independent Pet Partners Intermediate Holdings, LLCCommon Equity(6)— (80)— 19,000 — 80 18,920 
Infinity X1 Holdings, LLCPreferred Equity(9)— 8,780 1,402 8,010 8,780 — 16,790 
12.00%Secured Debt(9)— (3)905 15,299 3 453 14,849 
Secured Debt (12)(9)— — 49 — 4,000 4,000 — 
Integral Energy Services11.46%SF+7.50%Secured Debt(8)— (52)731 12,042 — 172 11,870 
10.00%10.00%Preferred Equity(8)— — 14 420 15 — 435 
Common Stock(8)— 70 — 350 70 — 420 
10.00%10.00%Preferred Equity(8)— 86 — 404 86 — 490 
Iron-Main Investments, LLCSecured Debt(5)— — 260 4,500 — 4,500 — 
Secured Debt(5)— — 169 2,931 — 2,931 — 
Secured Debt(5)— — 488 8,944 — 8,944 — 
Secured Debt(5)— — 1,009 17,569 — 17,569 — 
Secured Debt(5)— — 639 9,421 — 9,421 — 
13.00%Secured Debt(5)— — 1,136 — 50,990 — 50,990 
Secured Debt (12)(5)— — 8 — — 16 (16)
Common Stock(5)— 150 — 2,700 150 — 2,850 
25.00%25.00%Preferred Equity(5)— 140 — 1,030 140 — 1,170 
25.00%25.00%Preferred Equity(5)— — — 155 — — 155 
25.00%25.00%Preferred Equity(5)— — — — 136 — 136 
ITA Holdings Group, LLC10.90%SF+7.00%Secured Debt(8)— (2)67 1,180 2 2 1,180 
10.90%SF+7.00%Secured Debt(8)— (5)327 5,310 1,185 5 6,490 
10.90%SF+7.00%Secured Debt(8)— (133)404 4,935 133 133 4,935 
10.90%SF+7.00%Secured Debt(8)— (133)404 4,935 133 133 4,935 
10.90%SF+7.00%Secured Debt(8)— (2)98 1,770 2 2 1,770 
10.90%SF+7.00%Secured Debt(8)— — 85 — 2,360 — 2,360 
Warrants(8)— (400)1,688 15,230 — 400 14,830 
CenterPeak Holdings, LLCSecured Debt(8)— (6)141 1,800 6 1,806 — 
Secured Debt(8)— (4)2,086 25,107 4 25,111 — 
Preferred Equity(8)— 3,960 4,876 24,340 3,960 — 28,300 
Kennedy Fab HoldCo, LLCSecured Debt(8)— — 33 — — — — 


119
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
Secured Debt(8)— — 1,803 — 30,000 30,000 — 
Secured Debt(8)— — 789 — 20,000 20,000 — 
Preferred Equity(8)— — 212 — 11,490 — 11,490 
KMS, LLC12.50%Secured Debt(5)— 20 81 1,146 27 — 1,173 
12.50%Secured Debt(5)— — 61 1,007 — 152 855 
Preferred Equity(5)— — — 6,270 — — 6,270 
9.23%SF+5.50%Secured Debt (12)(5)— 32 42 (40)1,343 760 543 
Mills Fleet Farm Group, LLC9.16%SF+5.50%9.16%Secured Debt(5)— 58 142 2,796 199 — 2,995 
9.17%SF+5.50%9.17%Secured Debt(5)— 34 79 1,664 115 — 1,779 
Preferred Equity(5)— (783)566 12,557 566 783 12,340 
MoneyThumb Acquisition, LLC13.00%Secured Debt(9)— — 680 7,696 151 1,776 6,071 
12.00%12.00%Preferred Member Units(9)— 660 118 2,112 778 — 2,890 
Warrants(9)— 280 — 800 280 — 1,080 
Nearshore AcquireCo, LLCSecured Debt (12)(8)— — 6 (24)2 — (22)
Secured Debt(8)— — 6 (61)6 — (55)
13.00%Secured Debt(8)— — 1,455 21,688 22 — 21,710 
Preferred Equity(8)— 100 — 5,260 100 — 5,360 
OnAsset Intelligence, Inc.12.00%12.00%Secured Debt(8)— 153 — 141 153 — 294 
12.00%12.00%Secured Debt(8)— 156 — 144 156 — 300 
12.00%12.00%Secured Debt(8)— 336 — 309 336 — 645 
12.00%12.00%Secured Debt(8)— 701 — 645 701 — 1,346 
10.00%10.00%Unsecured Debt(8)— — — — — — — 
7.00%7.00%Preferred Stock(8)— — — — — — — 
Common Stock(8)— — — — — — — 
Warrants(8)— — — — — — — 
Oneliance, LLCPreferred Stock(7)— — 97 3,270 — — 3,270 
RA Outdoors LLC10.58%SF+6.75%10.58%Secured Debt(8)— — 77 1,182 76 — 1,258 
10.58%SF+6.75%10.58%Secured Debt(8)— (2)806 12,355 807 2 13,160 
10.58%SF+6.75%10.58%Secured Debt(8)— (80)14 — 479 80 399 
10.58%SF+6.75%10.58%Secured Debt(8)— (78)14 — 467 78 389 
Revenue Recovery Holdings, LLCSecured Debt (12)(7)— — 6 (18)2 — (16)
13.00%Secured Debt(7)— — 444 6,640 6 — 6,646 
Preferred Equity(7)— 911 — 1,049 911 — 1,960 
RFG AcquireCo, LLCSecured Debt (12)(7)— — 5 (7)2 — (5)
13.50%Secured Debt(7)— — 762 7,932 3,978 — 11,910 
Secured Debt(7)— — 300 33,700 — 33,700 — 
13.50%Secured Debt(7)— — 2,927 — 41,404 — 41,404 
Preferred Equity(7)— — — 12,771 — — 12,771 
SI East, LLC11.80%Secured Debt (12)(7)— (2)145 2,250 2 2 2,250 
12.84%Secured Debt(7)— (16)4,332 66,850 16 16 66,850 
Preferred Member Units(7)— (640)277 17,190 — 640 16,550 
Slick Innovations, LLC14.00%Secured Debt(6)— (43)1,745 24,680 43 1,963 22,760 
Common Stock(6)— 730 — 2,160 730 — 2,890 
Specialized Aviation Holdings, LLC13.00%Secured Debt(7)— — 1,592 28,362 75 5,749 22,688 


120
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2025 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2026 Fair Value (13)
Preferred Stock(7)— — 590 15,000 — — 15,000 
Student Resource Center, LLC8.50%8.50%Secured Debt(6)— 269 — 1,438 270 — 1,708 
8.50%8.50%Secured Debt(6)— 72 8 780 80 — 860 
Superior Rigging & Erecting Co.Preferred Member Units(7)— 980 751 17,500 980 — 18,480 
The Affiliati Network, LLCPreferred Stock(9)— — 256 6,400 — — 6,400 
Preferred Stock(9)— — — 313 — — 313 
UnionRock Energy Fund II, LPLP Interests (12)(9)— 134 — 4,164 339 275 4,228 
UnionRock Energy Fund III, LPLP Interests (12)(9)— 631 — 5,165 1,004 271 5,898 
UniTek Global Services, Inc.20.00%20.00%Preferred Stock(6)— 1,820 — 9,388 1,820 — 11,208 
19.00%19.00%Preferred Stock(6)— — — — — — — 
13.50%13.50%Preferred Stock(6)— — — — — — — 
Urgent DSO LLC13.50%Secured Debt(5)— (191)606 8,672 9 190 8,491 
Preferred Equity(5)— (3,584)— 4,356 — 3,584 772 
Wildcats Topco LLCCommon Equity(5)— 1,880 292 22,760 1,880 — 24,640 
World Micro Holdings, LLC13.00%Secured Debt(7)— — 641 9,848 12 659 9,201 
Preferred Equity(7)— — — 3,845 — — 3,845 
Other
Amounts related to investments transferred to or from other 1940 Act classification during the period— — — — — — — 
Total Affiliate investments$— $17,227 $58,417 $965,179 $286,256 $246,277 $1,005,158 
___________________________
(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
(2)Represents the total amount of interest, dividends and fees credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred to or from other 1940 Act classifications during the period.”
(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.
(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of June 30, 2026 for Control investments located in this region was $632,266. This represented 20.0% of net assets as of June 30, 2026. The fair value as of June 30, 2026 for Affiliate investments located in this region was $185,008. This represented 5.8% of net assets as of June 30, 2026.


121
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2026
(dollars in thousands)
(Unaudited)
(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of June 30, 2026 for Control investments located in this region was $143,335. This represented 4.5% of net assets as of June 30, 2026. The fair value as of June 30, 2026 for Affiliate investments located in this region was $160,109. This represented 5.1% of net assets as of June 30, 2026.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of June 30, 2026 for Control investments located in this region was $275,914. This represented 8.7% of net assets as of June 30, 2026. The fair value as of June 30, 2026 for Affiliate investments located in this region was $308,636. This represented 9.7% of net assets as of June 30, 2026.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of June 30, 2026 for Control investments located in this region was $986,696. This represented 31.2% of net assets as of June 30, 2026. The fair value as of June 30, 2026 for Affiliate investments located in this region was $215,325. This represented 6.8% of net assets as of June 30, 2026.
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of June 30, 2026 for Control investments located in this region was $549,573. This represented 17.4% of net assets as of June 30, 2026. The fair value as of June 30, 2026 for Affiliate investments located in this region was $136,080. This represented 4.3% of net assets as of June 30, 2026.
(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.
(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.
(12)Investment has an unfunded commitment as of June 30, 2026 (see Note K — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments.
(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.


122
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Majority-Owned Investments
Analytical Systems Keco Holdings, LLCSecured Debt(8)$— $— $— $— $— $— $— 
17.50%Secured Debt(8)— — 360 4,048 6 100 3,954 
Preferred Member Units(8)— — — — — — — 
Preferred Member Units(8)— 40 — 5,300 40 — 5,340 
Warrants(8)— — — — — — — 
BDB Holdings, LLCPreferred Equity(7)— (1,060)— 18,920 — 1,060 17,860 
12.00%Secured Debt (12)(7)— — 17 — 420 — 420 
Brewer Crane Holdings, LLC14.48%SF+10.00%Secured Debt(9)— — 364 5,016 — — 5,016 
Preferred Member Units(9)— (1,420)60 4,680 — 1,420 3,260 
Café Brazil, LLCMember Units(8)— (190)34 1,200 — 190 1,010 
California Splendor Holdings LLC14.00%Secured Debt(9)— 388 1,933 28,465 593 3,292 25,766 
Secured Debt (12)(9)— — 44 1,506 18 1,540 (16)
Preferred Member Units(9)— (6,940)125 22,215 — 6,940 15,275 
15.00%15.00%Preferred Member Units(9)— — 823 10,909 823 — 11,732 
Clad-Rex Steel, LLCSecured Debt (12)(5)— — 1 — — — — 
9.00%Secured Debt(5)— (5)312 6,760 5 485 6,280 
10.00%Secured Debt(5)— — 48 973 — 22 951 
Member Units(5)— 1,300 811 10,990 1,300 — 12,290 
Member Units(5)— 320 — 950 320 — 1,270 
Cody Pools, Inc.12.50%Secured Debt (12)(8)— (3)119 — 4,197 425 3,772 
12.50%Secured Debt(8)— (6)2,375 39,227 7 2,154 37,080 
Preferred Member Units(8)— (660)1,344 67,810 — 660 67,150 
CompareNetworks Topco, LLC13.48%SF+9.00%Secured Debt(9)— — 204 2,903 11 210 2,704 
Preferred Member Units(9)— (1,630)— 11,260 — 1,630 9,630 
Cybermedia Technologies, LLCSecured Debt(6)— — 5 — — — — 
13.00%Secured Debt(6)— (592)1,810 27,116 28 681 26,463 
Preferred Member Units(6)— (15,000)125 15,000 — 15,000 — 
Preferred Equity(6)— 1,000 — — 3,500 100 3,400 
Datacom, LLC7.50%Secured Debt(8)— — 36 493 721 540 674 
10.00%Secured Debt(8)— (689)471 7,947 68 823 7,192 
Preferred Member Units(8)— (600)— 240 360 600 — 
Direct Marketing Solutions, Inc.Secured Debt(9)— (14)23 — 14 14 — 
14.00%Secured Debt(9)— (20)1,669 23,902 20 840 23,082 
Preferred Stock(9)— 540 — 17,930 540 — 18,470 
Gamber-Johnson Holdings, LLCSF+7.50%Secured Debt (12)(5)— — 3 — — — — 
11.50%SF+7.50%Secured Debt (12)(5)— (25)4,252 73,126 25 825 72,326 
Member Units(5)— — 3,484 114,750 — — 114,750 
Garreco, LLCMember Units(8)— (230)39 2,060 — 230 1,830 
GRT Rubber Technologies LLC10.48%SF+6.00%Secured Debt (12)(8)— (2)167 3,146 2 2 3,146 
12.48%SF+8.00%Secured Debt(8)— (23)2,561 40,493 23 23 40,493 
Member Units(8)— 930 3,128 45,890 930 — 46,820 
Gulf Publishing Holdings, LLCSF+9.50%Secured Debt(8)— — — — — — — 
12.50%Secured Debt(8)— 467 — 1,518 360 — 1,878 


123
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Preferred Equity(8)— — — — — — — 
Member Units(8)— — — — — — — 
IG Investor, LLC13.00%Secured Debt (12)(6)— 24 115 1,572 28 — 1,600 
13.00%Secured Debt(6)— 209 2,330 35,257 247 440 35,064 
Common Equity(6)— 3,330 — 16,230 3,330 — 19,560 
Jensen Jewelers of Idaho, LLCP+6.75%Secured Debt (12)(9)— — — — — — — 
14.25%P+6.75%Secured Debt(9)— — 102 1,498 — 320 1,178 
Member Units(9)— (280)544 11,820 — 280 11,540 
MSC Adviser I, LLCMember Units(8)— 26,600 5,342 246,000 26,600 — 272,600 
Mystic Logistics Holdings, LLCSecured Debt (12)(6)— — 2 — — — — 
10.00%Secured Debt(6)— (4)292 5,746 4 4 5,746 
Common Stock(6)— 410 1,972 26,370 410 — 26,780 
NRP Jones, LLC12.00%Secured Debt(5)— — 137 2,178 6 — 2,184 
Member Units(5)— (1,601)— 2,696 — 1,601 1,095 
Member Units(5)— (49)— 94 — 49 45 
Preferred Equity(5)— 756 — — 1,238 — 1,238 
Common Equity(5)— — — — 1,200 — 1,200 
OMi Topco, LLCSecured Debt(8)— (30)207 9,000 — 9,000 — 
Secured Debt(8)— — 434 — — — — 
12.00%Secured Debt(8)— 44 146 — 19,000 — 19,000 
Preferred Member Units(8)— 4,900 14,093 72,720 4,900 — 77,620 
PPL RVs, Inc.SF+7.00%Secured Debt(8)— (1)1 — 1 1 — 
11.48%SF+7.00%Secured Debt(8)— (26)946 16,456 26 1,154 15,328 
Common Stock(8)— 1,140 261 17,110 1,140 — 18,250 
Common Stock(8)— 61 — 514 61 — 575 
Principle Environmental, LLC13.00%Secured Debt(8)— — 330 4,861 9 — 4,870 
Preferred Member Units(8)— 1,190 654 12,600 1,190 — 13,790 
Common Stock(8)— 60 — 600 60 — 660 
Quality Lease Service, LLCMember Units(7)— — — 460 — — 460 
Robbins Bros. Jewelry, Inc.10.00%Secured Debt(9)— — — (39)— 12 (51)
12.50%10.00%Secured Debt(9)— — — 14,562 — 427 14,135 
Preferred Equity(9)— — — — — — — 
Trantech Radiator Topco, LLCSecured Debt (12)(7)— — 2 (1)— — (1)
13.50%Secured Debt(7)— — 551 7,855 14 — 7,869 
Common Stock(7)— 890 58 8,570 890 — 9,460 
Victory Energy Operations, LLC13.00%Secured Debt (12)(8)— — 68 (33)1,727 — 1,694 
13.00%Secured Debt(8)— — 3,202 47,792 49 — 47,841 
Preferred Equity(8)— — 232 22,686 — 215 22,471 
Volusion, LLC10.00%Secured Debt(8)— — 106 2,100 — — 2,100 
Preferred Member Units(8)— — — — — — — 
Preferred Member Units(8)22 (1,627)— 7,003 22 2,745 4,280 
Preferred Member Units(8)— — — — — — — 
Common Stock(8)— — — — — — — 
Ziegler’s NYPD, LLC12.00%Secured Debt(8)— — 107 1,750 — — 1,750 


124
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Preferred Member Units(8)— (270)— 320 — 270 50 
Warrants(8)— — — — — — — 
Other Controlled Investments
2717 MH, L.P.LP Interests (2717 MH, L.P.)(8)5,466 (4,945)— 8,818 4,046 11,178 1,686 
LP Interests (2717 HPP-MS, L.P.)(8)— 64 — 383 64 — 447 
LP Interests (2717 GRE-LP, L.P.)(8)— — — 441 — — 441 
HPEP 423 COR, LPLP Interests (423 COR, L.P.)(8)— 981 — 4,187 981 — 5,168 
American Nuts, LLCPreferred Equity(9)— (1,180)— — 8,970 1,180 7,790 
12.95%SF+8.50%12.95%Secured Debt(9)— — 253 — 7,653 — 7,653 
12.95%SF+8.50%12.95%Secured Debt(9)— — 253 — 7,653 — 7,653 
ASC Interests, LLC13.00%Secured Debt(8)— — 27 400 — — 400 
13.00%Secured Debt(8)— (98)105 1,598 — 170 1,428 
Preferred Member Units(8)— — — — — — — 
Member Units(8)— — — — — — — 
ATS Workholding, LLC5.00%Secured Debt(9)(1,897)2,261 — 113 2,324 2,437 — 
5.00%Secured Debt(9)(2,842)2,698 — 143 2,698 2,841 — 
Preferred Member Units(9)(3,725)3,726 — — 3,726 3,726 — 
Barfly Ventures, LLC7.00%Secured Debt (12)(5)— — 24 711 — — 711 
Member Units(5)— 950 1,103 5,860 950 — 6,810 
Batjer TopCo, LLCSecured Debt (12)(8)— — 12 446 1 450 (3)
10.00%Secured Debt (12)(8)— — 14 270 — — 270 
10.00%Secured Debt(8)— — 569 10,529 11 — 10,540 
Preferred Stock(8)— 1,820 350 5,160 1,820 — 6,980 
Bolder Panther Group, LLC11.67%SF+7.29%Secured Debt(9)— (69)6,000 101,643 68 665 101,046 
8.00%Class B Preferred Member Units(9)— (220)1,187 30,520 — 220 30,300 
Secured Debt(9)— — 76 — — — — 
Bridge Capital Solutions CorporationPreferred Member Units(6)— — — — — — — 
Warrants(6)— — — — — — — 
Warrants(6)— — — — — — — 
CBT Nuggets, LLCMember Units(9)— (580)1,235 49,540 — 580 48,960 
Centre Technologies Holdings, LLCSF+10.00%Secured Debt (12)(8)— — 6 — — — — 
14.48%SF+10.00%Secured Debt(8)— (8)1,775 25,534 8 1,078 24,464 
Preferred Member Units(8)— 4,140 60 12,410 4,140 — 16,550 
Chamberlin Holding LLCSF+6.00%Secured Debt (12)(8)— (45)49 — 45 45 — 
12.49%SF+8.00%Secured Debt(8)— 4 1,064 15,620 3,200 — 18,820 
Member Units(8)— (820)4,758 33,110 — 820 32,290 
Member Units(8)— 140 46 3,550 140 — 3,690 
Charps, LLC14.00%Unsecured Debt(5)— (49)444 5,694 50 50 5,694 
Preferred Member Units(5)— (220)536 15,580 — 220 15,360 
Colonial Electric Company LLCSecured Debt (12)(6)— — 4 — — — — 
12.00%Secured Debt(6)— (19)833 14,310 19 2,835 11,494 


125
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Preferred Member Units(6)— 1,700 1,871 13,570 1,700 — 15,270 
Compass Systems & Sales, LLCSecured Debt(5)— — 3 (21)3 — (18)
13.50%Secured Debt(5)— (139)1,184 17,067 17 140 16,944 
Preferred Equity(5)— 4 120 7,450 4 — 7,454 
Copper Trail Fund InvestmentsLP Interests (CTMH, LP)(9)— — — 500 15 — 515 
Digital Products Holdings LLC14.38%SF+10.00%Secured Debt(5)— — 898 12,422 23 660 11,785 
Preferred Member Units(5)— — 100 9,835 — — 9,835 
Doral Holdings, LLCPreferred Equity(5)— — — — 13,000 — 13,000 
Secured Debt(5)— — — — — — — 
13.00%Secured Debt(5)— — 1,047 — 29,215 — 29,215 
Elgin AcquireCo, LLCSF+6.00%Secured Debt(5)— — 5 (5)1 — (4)
12.00%Secured Debt(5)— — 1,099 17,969 20 492 17,497 
9.00%Secured Debt(5)— — 283 6,207 1 26 6,182 
Common Stock(5)— (570)— 5,730 — 570 5,160 
Common Stock(5)— 110 — 3,050 110 — 3,160 
Flame King Holdings, LLCPreferred Equity(9)— 5,450 6,952 35,920 5,450 — 41,370 
12.00%Secured Debt(9)— — 671 — 65,351 — 65,351 
Harrison Hydra-Gen, Ltd.Common Stock(8)— 260 — 7,010 260 — 7,270 
JorVet Holdings, LLC12.00%Secured Debt(9)— — 1,430 23,216 24 — 23,240 
Preferred Equity(9)— 300 539 13,180 300 — 13,480 
KBK Industries, LLCSecured Debt(5)— (24)130 3,700 — 3,700 — 
Member Units(5)— — 2,333 25,180 — — 25,180 
9.50%Secured Debt(5)— 51 156 — 9,400 700 8,700 
Kickhaefer Manufacturing Company, LLC12.00%Secured Debt(5)— — 836 14,987 4 1,600 13,391 
9.00%Secured Debt(5)— — 178 3,926 1 24 3,903 
Preferred Equity(5)— 2,040 — 12,240 2,040 — 14,280 
Member Units(5)— — 59 2,710 — — 2,710 
Metalforming Holdings, LLCSecured Debt (12)(7)— 4 12 (11)11 — — 
9.75%Secured Debt(7)— 85 977 20,844 117 2,397 18,564 
8.00%8.00%Preferred Equity(7)— (360)604 6,397 — 362 6,035 
Common Stock(7)— (90)748 6,850 — 90 6,760 
MS Private Loan Fund I, LP5.00%SF+3.00%Secured Debt (12)(8)— — 200 1,600 10,100 7,700 4,000 
LP Interests (12)(8)— (508)878 14,034 — 508 13,526 
MS Private Loan Fund II, LPSF+3.00%Secured Debt (12)(8)— — 37 (59)1,612 1,650 (97)
LP Interests (12)(8)— — 490 7,843 1,551 — 9,394 
MSC Income Fund, Inc.Common Equity(8)— 202 991 16,810 4,747 — 21,557 
MVI MSO, LLC (Milford Vascular)13.00%Secured Debt(6)— — 541 — 9,758 — 9,758 
Preferred Equity(6)— — — — 2,700 — 2,700 
NAPCO Precast, LLCMember Units(8)— 2,770 275 9,050 2,770 — 11,820 
Nello Industries Investco, LLCSF+6.50%Secured Debt(5)— — 16 (16)16 — — 
13.50%Secured Debt(5)— — 1,874 26,959 27 — 26,986 
Preferred Equity(5)— 2,680 398 15,560 2,680 — 18,240 
NexRev LLCSecured Debt(8)— — — — — — — 
Secured Debt(8)— (9)151 9,811 9 9,820 — 


126
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Preferred Member Units(8)— 480 433 11,910 480 — 12,390 
NuStep, LLC10.98%SF+6.50%Secured Debt(5)— — 201 3,600 — 1,200 2,400 
12.00%Secured Debt(5)— — 1,114 18,439 1 — 18,440 
Preferred Member Units(5)— 650 — 11,550 650 — 12,200 
Preferred Member Units(5)— — — 6,000 — — 6,000 
Orttech Holdings, LLCSF+11.00%Secured Debt (12)(5)— — — — — — — 
15.48%SF+11.00%Secured Debt(5)— (24)1,700 21,960 24 824 21,160 
Preferred Stock(5)— — 120 13,450 — — 13,450 
Pinnacle TopCo, LLCSecured Debt (12)(8)— (2)6 — 2 2 — 
13.00%Secured Debt(8)— (34)1,888 28,640 34 834 27,840 
Preferred Equity(8)— 1,170 1,019 18,360 1,170 — 19,530 
River Aggregates, LLCMember Units(8)— 60 — 9,530 60 — 9,590 
Tedder Industries, LLC12.00%12.00%Secured Debt(9)— (3)— 1,646 — 2 1,644 
12.00%12.00%Secured Debt(9)— (150)— 3,603 — 151 3,452 
Preferred Member Units(9)— — — — — — — 
Preferred Member Units(9)— — — — — — — 
Preferred Member Units(9)— — — — — — — 
Televerde, LLCMember Units(8)— 769 298 4,252 769 — 5,021 
Preferred Stock(8)— — — 1,794 — — 1,794 
VVS Holdco LLCSF+6.00%Secured Debt (12)(5)— — 8 — — — — 
11.50%Secured Debt(5)— — 1,491 25,661 30 1,281 24,410 
Preferred Equity(5)— — 99 12,240 — — 12,240 
Other
Amounts related to investments transferred to or from other 1940 Act classification during the period— (3,450)227 (35,920)— — — 
Total Control investments$(2,976)$33,555 $116,454 $2,087,890 $291,307 $119,552 $2,295,565 
Affiliate Investments
423 HAR, LPLP Interests (423 HAR, L.P.)(8)$— $— $— $1,226 $— $— $1,226 
AAC Holdings, Inc.18.00%18.00%Secured Debt(7)(139)3 — 609 — 609 — 
18.00%18.00%Secured Debt(7)(3,303)80 — 17,365 — 17,365 — 
Preferred Equity(7)— (360)— — 8,520 360 8,160 
10.00%10.00%Secured Debt(7)— — — — 3,109 — 3,109 
12.00%12.00%Secured Debt(7)— — — — 3,109 — 3,109 
Common Stock(7)— — — — — — — 
Warrants(7)— — — — — — — 
18.00%18.00%Secured Debt (12)(7)— — — — 779 — 779 
Boccella Precast Products LLC10.00%Secured Debt(6)— 55 15 266 55 65 256 
Member Units(6)— 1,180 254 310 1,180 — 1,490 
Buca C, LLC15.00%15.00%Secured Debt(7)— — — — — — — 
6.00%6.00%Preferred Member Units(7)— — — — — — — 
15.00%15.00%Secured Debt(7)— — — — — — — 
15.00%15.00%Secured Debt(7)— (391)— — 391 391 — 
Career Team Holdings, LLCSF+6.00%Secured Debt (12)(6)— — 95 887 — 936 (49)
12.50%Secured Debt(6)— — 1,341 19,364 2,298 203 21,459 


127
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Common Stock(6)— (186)— 4,740 666 186 5,220 
Classic H&G Holdings, LLCPreferred Member Units(6)— (890)— 2,850 — 890 1,960 
Congruent Credit Opportunities FundsLP Interests (Congruent Credit Opportunities Fund III, LP)(8)— (78)69 2,276 — 1,614 662 
Connect Telecommunications Solutions Holdings, Inc.13.00%Secured Debt(6)— — 1,801 27,315 46 2,160 25,201 
Preferred Equity(6)— — — 12,596 — — 12,596 
DMA Industries, LLC12.00%Secured Debt(7)— — 1,022 16,722 8 — 16,730 
Preferred Equity(7)— 350 — 5,944 350 — 6,294 
12.00%Secured Debt(7)— — 34 555 1 — 556 
15.00%15.00%Preferred Equity(7)— 180 245 3,240 425 — 3,665 
Dos Rios PartnersLP Interests (Dos Rios Partners, LP)(8)— 226 — 7,708 226 139 7,795 
LP Interests (Dos Rios Partners - A, LP)(8)— 72 — 2,447 72 44 2,475 
Dos Rios Stone Products LLCClass A Preferred Units(8)— — — — — — — 
EIG Fund InvestmentsLP Interests (EIG Global Private Debt Fund-A, L.P.)(8)— — 16 369 — — 369 
FCC Intermediate Holdco, LLC13.00%Secured Debt(5)— 3,191 2,603 29,109 3,691 820 31,980 
Warrants(5)— 3,790 570 10,840 3,790 — 14,630 
Freeport Financial SBIC Fund LPLP Interests (Freeport Financial SBIC Fund LP)(5)— (347)— 2,190 — 347 1,843 
LP Interests (Freeport First Lien Loan Fund III LP)(5)— (82)(23)1,263 — 1,070 193 
GFG Group, LLCSecured Debt(5)— (21)185 8,185 — 8,185 — 
Preferred Member Units(5)— (430)582 10,540 — 430 10,110 
8.00%Secured Debt(5)— — 185 — 9,253 — 9,253 
Gulf Manufacturing, LLCSF+7.63%Secured Debt(8)— (42)18 — 5 42 (37)
12.00%SF+7.63%Secured Debt(8)— (325)2,352 39,000 46 1,325 37,721 
Member Units(8)— (130)354 14,730 — 130 14,600 
Common Stock(8)— 72 — 888 72 — 960 
Hawk Ridge Systems, LLC10.48%SF+6.00%Secured Debt(9)— — 173 2,645 3,245 3,400 2,490 
12.50%Secured Debt(9)— (27)2,871 45,256 27 27 45,256 
Preferred Member Units(9)— 2,470 — 20,260 2,470 — 22,730 
Preferred Member Units(9)— 130 — 1,070 130 — 1,200 
Houston Plating and Coatings, LLC10.00%Unsecured Convertible Debt(8)— 60 151 2,940 60 — 3,000 
Member Units(8)— 420 114 3,930 420 — 4,350 
HPEP 3, L.P.LP Interests (HPEP 3, L.P.) (12)(8)— 194 — 4,472 194 204 4,462 
LP Interests (HPEP 4, L.P.) (12)(8)— 425 — 5,861 1,302 — 7,163 
Independent Pet Partners Intermediate Holdings, LLCCommon Equity(6)— (630)— 20,390 — 630 19,760 
Infinity X1 Holdings, LLCSecured Debt(9)— (96)683 15,050 — 15,050 — 
Preferred Equity(9)— (530)1,155 9,080 — 530 8,550 
12.00%Secured Debt(9)— 14 339 — 16,372 — 16,372 
Integral Energy Services12.06%SF+7.50%Secured Debt(8)— (187)839 12,728 29 829 11,928 


128
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
10.00%10.00%Preferred Equity(8)— 55 13 452 68 — 520 
Common Stock(8)— 140 — 550 140 — 690 
10.00%10.00%Preferred Equity(8)— 76 — — 190 — 190 
Iron-Main Investments, LLC13.00%Secured Debt(5)— — 298 4,493 4 — 4,497 
13.00%Secured Debt(5)— — 194 2,927 2 — 2,929 
13.00%Secured Debt(5)— — 585 8,944 — — 8,944 
13.00%Secured Debt(5)— — 1,165 17,542 14 — 17,556 
13.00%Secured Debt(5)— — 667 9,638 38 288 9,388 
Common Stock(5)— (150)— 2,850 — 150 2,700 
25.00%25.00%Preferred Equity(5)— 150 — 760 150 — 910 
ITA Holdings Group, LLC12.46%SF+8.00%Secured Debt(8)— (2)79 1,180 2 2 1,180 
SF+8.00%Secured Debt(8)— (12)77 994 — 994 — 
SF+7.00%Secured Debt (12)(5)— — — — — — — 
11.46%SF+7.00%Secured Debt(8)— (133)403 4,438 630 133 4,935 
13.46%SF+9.00%Secured Debt(8)— (133)448 4,438 630 133 4,935 
11.46%SF+7.00%Secured Debt(8)— 7 11 — 1,770 — 1,770 
Warrants(8)— 4,150 844 5,690 4,150 — 9,840 
Johnson Downie Opco, LLCSecured Debt (12)(8)— (3)12 — 3 3 — 
15.00%Secured Debt(8)— (25)1,645 21,507 23 23 21,507 
Preferred Equity(8)— 4,220 1,397 14,550 4,220 — 18,770 
KMS, LLC14.50%SF+9.75%Secured Debt(5)(415)339 — — — — — 
14.50%SF+9.75%Secured Debt(5)(3,037)2,562 — — — — — 
SF+9.75%14.23%Secured Debt(5)— — — — — — — 
SF+9.75%14.23%Secured Debt(5)— — — — — — — 
14.23%SF+9.75%14.23%Secured Debt(5)— — — — — — — 
12.50%12.50%Secured Debt (12)(5)— — 60 — 1,113 — 1,113 
12.50%12.50%Secured Debt(5)— — 56 — 1,180 — 1,180 
Preferred Equity(5)— — — — 4,890 — 4,890 
Mills Fleet Farm Group, LLC9.79%SF+5.50%9.79%Secured Debt (12)(5)— — 114 — 2,763 — 2,763 
Preferred Equity(5)— (1,516)556 13,840 556 1,516 12,880 
Moffitt Holdings, LLC13.00%Secured Debt(8)— — 1,167 — 34,673 — 34,673 
Preferred Equity(8)— — — — 14,300 — 14,300 
MoneyThumb Acquisition, LLC14.00%Secured Debt(9)— — 756 8,967 87 320 8,734 
12.00%12.00%Preferred Member Units(9)— — 105 1,707 105 — 1,812 
Warrants(9)— — — 594 — — 594 
Nebraska Vet AcquireCo, LLCSF+7.00%Secured Debt(5)— (7)10 — 7 7 — 
Preferred Member Units(5)55,647 (25,053)5,695 32,040 55,647 87,687 — 
Secured Debt(5)— (115)3,143 62,200 115 62,315 — 
Secured Debt(5)— (171)193 4,650 2,771 7,421 — 
OnAsset Intelligence, Inc.12.00%12.00%Secured Debt(8)— — — 99 — — 99 
12.00%12.00%Secured Debt(8)— — — 101 — — 101 
12.00%12.00%Secured Debt(8)— — — 218 — — 218 
12.00%12.00%Secured Debt(8)— — — 457 1 2 456 
10.00%10.00%Unsecured Debt(8)— — — 305 — — 305 


129
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
7.00%7.00%Preferred Stock(8)— — — — — — — 
Common Stock(8)— — — — — — — 
Warrants(8)— — — — — — — 
Oneliance, LLCPreferred Stock(7)— 510 52 2,580 510 — 3,090 
RA Outdoors (Aspira) LLC11.25%SF+6.75%11.25%Secured Debt(8)— (148)80 1,257 42 150 1,149 
11.25%SF+6.75%11.25%Secured Debt(8)— (1,553)824 13,155 425 1,569 12,011 
Common Equity(8)— — — — — — — 
RFG AcquireCo, LLCSecured Debt (12)(7)— — 1 — — 10 (10)
Secured Debt(7)— — — — — — — 
12.50%Secured Debt(7)— — 1,040 — 33,666 — 33,666 
Preferred Equity(7)— — — — 11,401 — 11,401 
SI East, LLC11.85%Secured Debt (12)(7)— (2)145 2,250 2 2 2,250 
12.79%Secured Debt(7)— 48 4,368 67,661 — — 67,661 
Preferred Member Units(7)— (1,190)— 13,660 — 1,190 12,470 
Slick Innovations, LLCSecured Debt(6)— (140)510 16,320 — 16,320 — 
14.00%Secured Debt(6)— 265 1,371 — 25,880 320 25,560 
Common Stock(6)— (450)873 2,440 — 450 1,990 
Student Resource Center, LLC8.50%8.50%Secured Debt(6)— (583)— 1,644 — 583 1,061 
Preferred Equity(6)— — — — — — — 
8.50%8.50%Secured Debt(6)— 673 9 204 682 — 886 
Superior Rigging & Erecting Co.Preferred Member Units(7)— 5,420 — 10,530 5,420 — 15,950 
The Affiliati Network, LLCSecured Debt (12)(9)— — 36 394 2,562 2,960 (4)
13.00%Secured Debt(9)— 51 307 5,053 57 — 5,110 
Preferred Stock(9)— — 115 6,400 — — 6,400 
Preferred Stock(9)— — — 287 26 — 313 
UnionRock Energy Fund II, LPLP Interests (12)(9)— — — 4,732 — 335 4,397 
UnionRock Energy Fund III, LPLP Interests (12)(9)— (405)— 5,612 447 887 5,172 
UniTek Global Services, Inc.15.00%Secured Convertible Debt(6)3,762 (2,384)41 5,642 505 6,147 — 
15.00%Secured Convertible Debt(6)1,743 (1,155)21 2,663 235 2,898 — 
20.00%Preferred Stock(6)— — 104 3,181 1,633 4,814 — 
20.00%20.00%Preferred Stock(6)— (788)— 4,272 5,116 — 9,388 
19.00%19.00%Preferred Stock(6)— — — — — — — 
13.50%13.50%Preferred Stock(6)— — — — — — — 
Common Stock(6)— — — — — — — 
Urgent DSO LLC13.50%Secured Debt(5)— — 606 8,727 8 — 8,735 
9.00%9.00%Preferred Equity(5)— — 194 4,320 194 — 4,514 
Wildcats Topco LLC (NVS Heritage)Common Equity(5)— — — — 22,427 — 22,427 
World Micro Holdings, LLC11.00%Secured Debt(7)— — 579 10,702 15 878 9,839 
Preferred Equity(7)— — 198 3,845 — — 3,845 
Other


130
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
CompanyTotal RateBase RateSpreadPIK RateType of Investment
(1) (10) (11)		GeographyAmount of
Realized
Gain/(Loss)		Amount of
Unrealized
Gain/(Loss)		Amount of
Interest,
Fees or
Dividends
Credited to
Income (2)		December 31,
2024 Fair Value (13)		Gross
Additions (3)		Gross
Reductions (4)		June 30,
2025 Fair Value (13)
Amounts related to investments transferred to or from other 1940 Act classification during the period3,453 550 291 35,920 — — — 
Total Affiliate investments$57,711 $(8,742)$49,501 $846,798 $303,836 $258,488 $856,226 
___________________________
(1)The principal amount, the ownership detail for equity investments and if the investment is income producing is included in the Consolidated Schedule of Investments included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
(2)Represents the total amount of interest, dividends and fees credited to income for the portion of the period for which an investment was included in Control or Affiliate categories, respectively. For investments transferred between Control and Affiliate categories during the period, any income or investment balances related to the time period it was in the category other than the one shown at period end is included in “Amounts related to investments transferred to or from other 1940 Act classifications during the period.”
(3)Gross additions include increases in the cost basis of investments resulting from new portfolio investments, follow-on investments and accrued PIK interest, and the exchange of one or more existing securities for one or more new securities. Gross additions also include net increases in unrealized appreciation or net decreases in net unrealized depreciation as well as the movement of an existing portfolio company into this category and out of a different category.
(4)Gross reductions include decreases in the cost basis of investments resulting from principal repayments or sales and the exchange of one or more existing securities for one or more new securities. Gross reductions also include net increases in net unrealized depreciation or net decreases in unrealized appreciation as well as the movement of an existing portfolio company out of this category and into a different category.
(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of June 30, 2025 for Control investments located in this region was $586,104. This represented 20.3% of net assets as of June 30, 2025. The fair value as of June 30, 2025 for Affiliate investments located in this region was $173,435. This represented 6.0% of net assets as of June 30, 2025.
(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of June 30, 2025 for Control investments located in this region was $157,835. This represented 5.5% of net assets as of June 30, 2025. The fair value as of June 30, 2025 for Affiliate investments located in this region was $126,778. This represented 4.4% of net assets as of June 30, 2025.
(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of June 30, 2025 for Control investments located in this region was $67,427. This represented 2.3% of net assets as of June 30, 2025. The fair value as of June 30, 2025 for Affiliate investments located in this region was $202,564. This represented 7.0% of net assets as of June 30, 2025.
(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of June 30, 2025 for Control investments located in this region was $990,024. This represented 34.3% of net assets as of June 30, 2025. The fair value as of June 30, 2025 for Affiliate investments located in this region was $224,323. This represented 7.8% of net assets as of June 30, 2025.


131
Schedule 12-14
MAIN STREET CAPITAL CORPORATION
Consolidated Schedule of Investments in and Advances to Affiliates (Continued)
June 30, 2025
(dollars in thousands)
(Unaudited)
(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of June 30, 2025 for Control investments located in this region was $494,175. This represented 17.1% of net assets as of June 30, 2025. The fair value as of June 30, 2025 for Affiliate investments located in this region was $129,126. This represented 4.5% of net assets as of June 30, 2025.
(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.
(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.
(12)Investment has an unfunded commitment as of June 30, 2025 (see Note K — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments.
(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.


132
Table of contents                                
Item 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
This Quarterly Report on Form 10-Q contains forward-looking statements regarding the plans and objectives of management for future operations and which relate to future events or our future performance or financial condition. Any such forward-looking statements may involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by any forward-looking statements. Forward-looking statements, which involve assumptions and describe our future plans, strategies and expectations, are generally identifiable by use of the words “may,” “will,” “should,” “expect,” “anticipate,” “estimate,” “believe,” “intend” or “project” or the negative of these words or other variations on these words or comparable terminology. These forward-looking statements are based on assumptions that may be incorrect, and we cannot assure you that the projections included in these forward-looking statements will come to pass. Our actual results could differ materially from those expressed or implied by the forward-looking statements as a result of various factors, including, without limitation, the factors referenced in Item 1A entitled “Risk Factors” below in this Quarterly Report on Form 10-Q, if any, and discussed in Item 1A entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on February 27, 2026 and elsewhere in this Quarterly Report on Form 10-Q and our other SEC filings. Other factors that could cause actual results to differ materially include changes in the economy and future changes in laws or regulations and conditions in our operating areas.
We have based the forward-looking statements included in this Quarterly Report on Form 10-Q on information available to us on the date of this Quarterly Report on Form 10-Q, and we assume no obligation to update any such forward-looking statements, unless we are required to do so by applicable law. However, you are advised to refer to any additional disclosures that we may make directly to you or through reports that we in the future may file with the SEC, including subsequent periodic and current reports.
This discussion should be read in conjunction with our consolidated financial statements as of December 31, 2025, and for the year then ended, and Management’s Discussion and Analysis of Financial Condition and Results of Operations, both contained in our Annual Report on Form 10-K for the year ended December 31, 2025, as well as the consolidated financial statements (unaudited) and notes to the consolidated financial statements (unaudited) contained in this report.
ORGANIZATION
Main Street Capital Corporation (“MSCC” or, together with its consolidated subsidiaries, “Main Street” or the “Company”) is a principal investment firm primarily focused on providing customized long-term debt and equity capital solutions to lower middle market (“LMM”) companies (its “LMM investment strategy”) and debt capital to private (“Private Loan”) companies owned by or in the process of being acquired by a private equity fund (its “Private Loan investment strategy”). Main Street’s portfolio investments are typically made to support management buyouts, recapitalizations, growth financings, refinancings and acquisitions of companies that operate in diverse industry sectors. Main Street seeks to partner with entrepreneurs, business owners and management teams and generally provides “one-stop” debt and equity financing solutions within its LMM investment strategy. Main Street invests primarily in secured debt investments, equity investments, warrants and other securities of LMM companies typically based in the U.S. Main Street also seeks to partner with private equity fund sponsors in its Private Loan investment strategy and primarily invests in secured debt investments of Private Loan companies generally headquartered in the U.S.
Main Street also maintains a legacy portfolio of investments in larger middle market (“Middle Market”) companies (its “Middle Market investment portfolio”) and a limited portfolio of other portfolio (“Other Portfolio”) investments. Main Street’s Middle Market investments are generally debt investments in companies owned by a private equity fund that were originally issued through a syndication financing process. Main Street has generally stopped making new Middle Market investments and expects the size of its Middle Market investment portfolio to continue to decline in future periods as its existing Middle Market investments are repaid or sold. Main Street’s Other Portfolio investments primarily consist of investments that are not consistent with the typical profiles for its LMM, Private Loan or Middle Market portfolio investments, including investments in unaffiliated investment companies and private funds managed by third parties.
The “Investment Portfolio,” as used herein, refers to all of Main Street’s investments in LMM portfolio companies, investments in Private Loan portfolio companies, investments in Middle Market portfolio companies, Other Portfolio investments, short-term portfolio investments (see Note C — Fair Value Hierarchy for Investments — Portfolio Composition — Investment Portfolio Composition in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q) and the investment in the External Investment Manager (as defined below).


133
Table of contents                                
MSCC was formed in March 2007 to operate as an internally managed business development company (“BDC”) under the Investment Company Act of 1940, as amended (the “1940 Act”). Because MSCC is internally managed, all of the executive officers and other employees are employed by MSCC. Therefore, MSCC does not pay any external investment advisory fees, but instead directly incurs the operating costs associated with employing investment and portfolio management professionals.
MSCC wholly owns several investment funds, including Main Street Mezzanine Fund, LP (“MSMF”) and Main Street Capital III, LP (“MSC III” and, together with MSMF, the “Funds”), and each of their general partners. The Funds are each licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration (“SBA”).
MSC Adviser I, LLC (the “External Investment Manager”) was formed in November 2013 as a wholly-owned subsidiary of Main Street to provide investment management and other services to parties other than Main Street (“External Parties”) and earns fee income for such services. MSCC has been granted no-action relief by the SEC to allow the External Investment Manager to register as a registered investment adviser under the Investment Advisers Act of 1940, as amended. Since the External Investment Manager conducts all of its investment management activities for External Parties, it is accounted for as a portfolio investment of Main Street and is not included as a consolidated subsidiary in Main Street’s consolidated financial statements.
MSCC has elected to be treated for U.S. federal income tax purposes as a regulated investment company (“RIC”) under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). As a result, MSCC generally does not pay corporate-level U.S. federal income taxes on any net ordinary taxable income or capital gains that it distributes to its stockholders.
MSCC has certain direct and indirect wholly-owned subsidiaries that have elected to be taxable entities (the “Taxable Subsidiaries”). The primary purpose of the Taxable Subsidiaries is to permit MSCC to hold equity investments in portfolio companies which are “pass-through” entities for tax purposes. MSCC also has certain direct and indirect wholly-owned subsidiaries formed for financing purposes (the “Structured Subsidiaries”).
Unless otherwise noted or the context otherwise indicates, the terms “we,” “us,” “our,” the “Company” and “Main Street” refer to MSCC and its consolidated subsidiaries, which include the Funds, the Taxable Subsidiaries and the Structured Subsidiaries.
OVERVIEW OF OUR BUSINESS
Our principal investment objective is to maximize our Investment Portfolio’s total return by generating current income from our debt investments and current income and capital appreciation from our equity and equity-related investments, including warrants, convertible securities and other rights to acquire equity securities in a portfolio company. We seek to achieve our investment objective primarily through our LMM and Private Loan investment strategies. Our LMM investment strategy involves investments in companies that generally have annual revenues between $10 million and $150 million and annual earnings before interest, tax, depreciation and amortization expenses (“EBITDA”) between $3 million and $20 million. Our LMM portfolio investments generally range in size from $5 million to $125 million. Our Private Loan investment strategy involves investments in companies that generally have annual revenues between $25 million and $500 million and annual EBITDA between $7.5 million and $50 million. Our Private Loan investments generally range in size from $10 million to $100 million.
We seek to fill the financing gap for LMM businesses, which, historically, have had limited access to financing from commercial banks and other traditional sources. The underserved nature of the LMM creates the opportunity for us to meet the financing needs of LMM companies while also negotiating favorable transaction terms and equity participation. Our ability to invest across a company’s capital structure, from secured loans to equity securities, allows us to offer portfolio companies a comprehensive suite of financing options, or a “one-stop” financing solution. We believe that providing customized, “one-stop” financing solutions is important and valuable to LMM portfolio companies. We generally seek to partner directly with entrepreneurs, management teams and business owners in making our LMM investments. Our LMM portfolio debt investments are generally secured by a first priority lien on the assets of the portfolio company and typically have a term of between five and seven years from the original investment date.
Private Loan investments primarily consist of debt securities that have primarily been originated directly by us or, to a lesser extent, through our strategic relationships with other investment funds on a collaborative basis through investments that are often referred to in the debt markets as “club deals” because of the small lender group size. In both cases, our Private Loan investments are typically made in a company owned by or in the process of being acquired by a private equity fund. Our Private Loan portfolio debt investments are generally secured by a first priority lien on the assets of the portfolio company and typically have a term of between three and seven years from the original investment date. We may also co-invest with the private equity fund in the equity securities of our Private Loan portfolio companies.


134
Table of contents                                
We also maintain a legacy portfolio of investments in larger Middle Market companies. Our Middle Market investments are generally debt investments in companies owned by a private equity fund that were originally issued through a syndication financing process. We have generally stopped making new Middle Market investments and expect the size of our Middle Market investment portfolio to continue to decline in future periods as existing Middle Market investments are repaid or sold. Our Middle Market debt investments generally range in size from $3 million to $25 million, are generally secured by a first priority lien on the assets of the portfolio company and typically have an expected duration of between three and seven years from the original investment date.
Our Other Portfolio investments primarily consist of investments that are not consistent with the typical profiles for our LMM, Private Loan or Middle Market portfolio investments, including investments in unaffiliated investment companies and private funds which may be managed by third parties. In our Other Portfolio, we may incur indirect fees and expenses in connection with investments managed by third parties, such as investments in other investment companies or private funds.
Based upon our liquidity and capital structure management activities, our Investment Portfolio may also periodically include short-term portfolio investments that are atypical of our LMM and Private Loan portfolio investments in that they are intended to be a short-term deployment of capital. These assets are typically expected to be realized in one year or less and are not expected to be a significant portion of our overall Investment Portfolio.
Our external asset management business is conducted through the External Investment Manager. The External Investment Manager earns management fees based on the assets of the funds under management and may earn incentive fees, or a carried interest, based on the performance of the funds managed.
Our portfolio investments are generally made through MSCC, the Taxable Subsidiaries, the Funds and the Structured Subsidiaries. MSCC, the Taxable Subsidiaries, the Funds and the Structured Subsidiaries share the same investment strategies and criteria, although they are subject to different regulatory regimes. An investor’s return in MSCC will depend, in part, on the Taxable Subsidiaries’, the Funds’ and the Structured Subsidiaries’ investment returns as they are wholly-owned subsidiaries of MSCC.
The level of new portfolio investment activity will fluctuate from period to period based upon our view of the current economic fundamentals, our ability to identify new investment opportunities that meet our investment criteria and our ability to consummate the identified opportunities. The level of new investment activity, and associated interest and fee income, will directly impact future investment income. In addition, the level of dividends paid by portfolio companies and the portion of our portfolio debt investments on non-accrual status will directly impact future investment income. While we intend to grow our portfolio and our investment income over the long term, our growth and our operating results may be more limited during depressed economic periods. However, we intend to appropriately manage our cost structure and liquidity position based on applicable economic conditions and our investment outlook. The level of realized gains or losses and unrealized appreciation or depreciation on our investments will also fluctuate depending upon portfolio activity, economic conditions and the performance of our individual portfolio companies. The changes in realized gains and losses and unrealized appreciation or depreciation could have a material impact on our operating results.
Because we are internally managed, we do not pay any external investment advisory fees, but instead directly incur the operating costs associated with employing investment and portfolio management professionals. We believe that our internally managed structure provides us with a better alignment of interests between our management team and our employees and our stockholders and a beneficial operating expense structure when compared to other publicly traded and privately held investment firms which are externally managed, and our internally managed structure allows us the opportunity to leverage our non-interest operating expenses as we grow our Investment Portfolio and our External Investment Manager’s asset management business (as described below). The ratio of our total operating expenses, excluding interest expense, as a percentage of our quarterly average total assets was 1.3% for each of the trailing twelve months ended June 30, 2026 and 2025 and for the year ended December 31, 2025. The ratio of our total operating expenses, including interest expense, as a percentage of our quarterly average total assets was 3.7% and 3.8% for the trailing twelve months ended June 30, 2026 and 2025, respectively, and 3.7% for the year ended December 31, 2025. Our ratio of expenses as a percentage of our average net asset value (“NAV”) is described in greater detail in Note F — Financial Highlights in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.


135
Table of contents                                
The External Investment Manager serves as the investment adviser and administrator to MSC Income Fund, Inc. (“MSC Income”) pursuant to an Investment Advisory and Administrative Services Agreement entered into in October 2020 between the External Investment Manager and MSC Income (as amended and restated on January 29, 2025, the “Advisory Agreement”). Under the Advisory Agreement, prior to January 29, 2025, the External Investment Manager earned a 1.75% annual base management fee on MSC Income’s average total assets, a subordinated incentive fee on income equal to 20% of pre-incentive fee net investment income above a specified investment return hurdle rate and a 20% incentive fee on cumulative net realized capital gains in exchange for providing advisory services to MSC Income. On and after January 29, 2025, under the Advisory Agreement, the External Investment Manager earns a 1.5% annual base management fee on MSC Income’s average total assets (including cash and cash equivalents), payable quarterly in arrears (with additional future contractual reductions based upon changes to MSC Income’s investment portfolio composition), a subordinated incentive fee on income equal to 17.5% of pre-incentive fee net investment income above a specified investment return hurdle rate, subject to a 50% / 50% catch-up feature, and a 17.5% incentive fee on cumulative net realized capital gains from January 29, 2025.
Additionally, the External Investment Manager has entered into investment management agreements with MS Private Loan Fund I, LP (“Private Loan Fund I”) and MS Private Loan Fund II, LP (“Private Loan Fund II”), each a private investment fund with a strategy to co-invest with Main Street in Private Loan portfolio investments, pursuant to which the External Investment Manager provides investment advisory and management services to each fund in exchange for an asset-based management fee and certain incentive fees. The External Investment Manager may also advise other clients, including funds and separately managed accounts, pursuant to advisory and services agreements with such clients in exchange for asset-based and incentive fees.
The External Investment Manager earns management fees based on the assets of the funds and accounts under management and may earn incentive fees, or a carried interest, based on the performance of the funds and accounts managed. For the three months ended June 30, 2026 and 2025, the External Investment Manager earned $6.2 million and $5.7 million in base management fees, respectively, $3.0 million and $3.7 million in incentive fees, net of waivers, respectively, and $0.2 million of administrative service fee income for each of the three months ended June 30, 2026 and 2025. For the six months ended June 30, 2026 and 2025, the External Investment Manager earned $12.3 million and $11.5 million in base management fees, respectively, $6.0 million and $6.4 million in incentive fees, net of waivers, respectively, and $0.4 million and $0.3 million of administrative service fee income, respectively. For the three and six months ended June 30, 2026, the External Investment Manager waived $0.3 million and $1.2 million, respectively, of incentive fees on income related to MSC Income. As of June 30, 2026, MSC Income had an expense accrual of $5.1 million of incentive fees on capital gains to the External Investment Manager. However, no capital gains incentive fees were currently contractually payable to the External Investment Manager as of June 30, 2026 and as a result no amounts were accrued by the External Investment Manager.
We have entered into an agreement with the External Investment Manager to share employees in connection with its asset management business generally, and specifically for its relationship with MSC Income and its other clients. Through this agreement, we share employees with the External Investment Manager, including their related infrastructure, business relationships, management expertise and capital raising capabilities, and we allocate the related expenses to the External Investment Manager pursuant to the sharing agreement. Our total expenses for the three months ended June 30, 2026 and 2025 are net of expenses allocated to the External Investment Manager of $6.6 million and $5.9 million, respectively. Our total expenses for the six months ended June 30, 2026 and 2025 are net of expenses allocated to the External Investment Manager of $12.1 million and $11.2 million, respectively
The total contribution of the External Investment Manager to our net investment income consists of the combination of the expenses allocated to the External Investment Manager and the dividend income earned from the External Investment Manager. For the three months ended June 30, 2026 and 2025, dividends earned by us from the External Investment Manager were $2.1 million and $2.8 million, respectively. For each of the three months ended June 30, 2026 and 2025, the total contribution of the External Investment Manager to our net investment income was $8.7 million. For the six months ended June 30, 2026 and 2025, dividends earned by us from the External Investment Manager were $5.0 million and $5.3 million, respectively. For the six months ended June 30, 2026 and 2025, the total contribution of the External Investment Manager to our net investment income was $17.0 million and $16.6 million, respectively.



136
Table of contents                                
We have received an exemptive order from the SEC permitting co-investments among us, MSC Income and other advisory clients of the External Investment Manager in certain negotiated transactions where co-investing would otherwise be prohibited under the 1940 Act. We have made co-investments with, and in the future intend to continue to make co-investments with MSC Income, Private Loan Fund I, Private Loan Fund II and other advisory clients of the External Investment Manager, in accordance with the conditions of the order. Because the External Investment Manager may earn performance-based fee compensation from its advisory clients, this may provide the Company and the External Investment Manager an incentive to allocate opportunities to advisory clients instead of us. However, both we and the External Investment Manager have adopted policies and procedures pursuant to the order to manage this conflict and ensure that investment opportunities are allocated in a manner that is fair and equitable considering each investor’s interests, including oversight of the co-investment program by the independent members of our and MSC Income’s boards of directors and their required approval of certain co-investment transactions thereunder. In addition to the co-investment program described above, we also co-invest in certain investment transactions where price is the only negotiated point by us and our affiliates.
INVESTMENT PORTFOLIO SUMMARY
A summary of our LMM and Private Loan portfolio investments as of June 30, 2026 and December 31, 2025 is as follows (this information excludes Middle Market portfolio investments, Other Portfolio investments and the External Investment Manager, which are discussed further below):
June 30, 2026
LMM (a)Private Loan
(dollars in millions)
Number of portfolio companies94 86 
Fair value$3,205.6 $2,090.9 
Cost$2,547.7 $2,123.5 
Debt investments as a % of portfolio (at cost)71.1 %94.3 %
Equity investments as a % of portfolio (at cost)28.9 %5.7 %
% of debt investments at cost secured by first priority lien99.4 %99.3 %
Weighted-average annual effective yield (b)12.6 %10.2 %
Average EBITDA (c)$11.8 $39.3 
___________________________
(a)As of June 30, 2026, we had equity ownership in all of our LMM portfolio companies, and the average fully diluted equity ownership in those portfolio companies was 36%.
(b)The weighted-average annual effective yields were computed using the effective interest rates for all debt investments as of June 30, 2026, including amortization of deferred debt origination fees and accretion of original issue discount but excluding fees payable upon repayment of the debt investments and any debt investments on non-accrual status, and are weighted based upon the principal amount of each applicable debt investment as of June 30, 2026. The weighted-average annual effective yield on our debt portfolio as of June 30, 2026, including debt investments on non-accrual status, was 12.1% for our LMM portfolio investments and 9.6% for our Private Loan portfolio investments. The weighted-average annual effective yield is not reflective of what an investor in shares of our common stock will realize on their investment because it does not reflect changes in the market value of our stock, our utilization of debt capital in our capital structure, our expenses or any sales load paid by an investor.
(c)The average EBITDA is calculated using a simple average for the LMM portfolio companies and a weighted-average for the Private Loan portfolio companies. These calculations exclude certain portfolio companies, including six LMM portfolio companies and five Private Loan portfolio companies, as EBITDA is not a meaningful valuation metric for our investments in these portfolio companies, and those portfolio companies whose primary purpose is to own real estate and those portfolio companies whose primary operations have ceased and only residual value remains.


137
Table of contents                                
December 31, 2025
LMM (a)Private Loan
(dollars in millions)
Number of portfolio companies92 86 
Fair value$3,057.0 $1,988.4 
Cost$2,419.3 $2,014.1 
Debt investments as a % of portfolio (at cost)71.2 %93.5 %
Equity investments as a % of portfolio (at cost)28.8 %6.5 %
% of debt investments at cost secured by first priority lien99.4 %99.9 %
Weighted-average annual effective yield (b)12.5 %10.5 %
Average EBITDA (c)$11.1 $33.9 
___________________________
(a)As of December 31, 2025, we had equity ownership in all of our LMM portfolio companies, and the average fully diluted equity ownership in those portfolio companies was 37%.
(b)The weighted-average annual effective yields were computed using the effective interest rates for all debt investments as of December 31, 2025, including amortization of deferred debt origination fees and accretion of original issue discount but excluding fees payable upon repayment of the debt investments and any debt investments on non-accrual status, and are weighted based upon the principal amount of each applicable debt investment as of December 31, 2025. The weighted-average annual effective yield on our debt portfolio as of December 31, 2025, including debt investments on non-accrual status, was 12.0% for our LMM portfolio investments and 10.1% for our Private Loan portfolio investments. The weighted-average annual effective yield is not reflective of what an investor in shares of our common stock will realize on their investment because it does not reflect changes in the market value of our stock, our utilization of debt capital in our capital structure, our expenses or any sales load paid by an investor.
(c)The average EBITDA is calculated using a simple average for the LMM portfolio companies and a weighted-average for the Private Loan portfolio companies. These calculations exclude certain portfolio companies, including five LMM portfolio companies and six Private Loan portfolio companies, as EBITDA is not a meaningful valuation metric for our investments in these portfolio companies, and those portfolio companies whose primary purpose is to own real estate and those portfolio companies whose primary operations have ceased and only residual value remains.
As of June 30, 2026, we had Other Portfolio investments in 34 entities, spread across 13 investment managers, collectively totaling $141.3 million in fair value and $150.8 million in cost basis, which comprised 2.5% and 3.0% of our Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, we had Other Portfolio investments in 33 entities, spread across 13 investment managers, collectively totaling $134.1 million in fair value and $141.6 million in cost basis, which comprised 2.4% and 3.0% of our Investment Portfolio at fair value and cost, respectively.
As of June 30, 2026, we had Middle Market portfolio investments in 11 portfolio companies, collectively totaling $83.1 million in fair value and $123.1 million in cost basis, which comprised 1.4% and 2.5% of our Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, we had Middle Market portfolio investments in 11 portfolio companies, collectively totaling $83.5 million in fair value and $120.1 million in cost basis, which comprised 1.5% and 2.5% of our Investment Portfolio at fair value and cost, respectively.
As previously discussed in Note A.1. — Organization and Basis of Presentation — Organization in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q, we hold an investment in the External Investment Manager, a wholly-owned subsidiary that is treated as a portfolio investment. As of June 30, 2026, this investment had a fair value of $225.2 million and a cost basis of $29.5 million, which comprised 3.9% and 0.6% of our Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, this investment had a fair value of $255.0 million and a cost basis of $29.5 million, which comprised 4.6% and 0.6% of our Investment Portfolio at fair value and cost, respectively.


138
Table of contents                                
For the three months ended June 30, 2026 and 2025, we achieved an annualized total return on investments of 17.3% and 16.4%, respectively. For the six months ended June 30, 2026 and 2025, we achieved an annualized total return on investments of 13.2% and 16.2%, respectively. For the year ended December 31, 2025, we achieved a total return on investments of 16.4%. Total return on investments equals the total interest, dividend and fee income plus realized and unrealized changes in the fair value of the Investment Portfolio divided by the average quarterly Investment Portfolio balance at cost, in each case for the specified period. Our total return on investments is not reflective of what an investor in shares of our common stock will realize on their investment because it does not reflect changes in the market value of our stock, our utilization of debt capital in our capital structure, our expenses or any sales load paid by an investor.
CRITICAL ACCOUNTING POLICIES
The preparation of financial statements and related disclosures in conformity with generally accepted accounting principles in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and contingent assets and liabilities as of the date of the financial statements, and revenues and expenses during the periods reported. Actual results could materially differ from those estimates. Critical accounting policies are those that require management to make subjective or complex judgments about the effect of matters that are inherently uncertain and may change in subsequent periods. Changes that may be required in the underlying assumptions or estimates in these areas could have a material impact on our current and future financial condition and results of operations.
Management has discussed the development and selection of each critical accounting policy and estimate with the Audit Committee of the Board of Directors. Our critical accounting policies and estimates include the Investment Portfolio Valuation and Revenue Recognition policies described below. Our significant accounting policies are described in greater detail in Note B — Summary of Significant Accounting Policies in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
Investment Portfolio Valuation
The most significant determination inherent in the preparation of our consolidated financial statements is the valuation of our Investment Portfolio and the related amounts of unrealized appreciation and depreciation. We consider this determination to be a critical accounting estimate, given the significant judgments and subjective measurements required. As of both June 30, 2026 and December 31, 2025, our Investment Portfolio valued at fair value represented 97% of our total assets. We are required to report our investments at fair value. We follow the provisions of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value and enhances disclosure requirements for fair value measurements. ASC 820 requires us to assume that the portfolio investment is to be sold in the principal market to independent market participants, which may be a hypothetical market. Market participants are defined as buyers and sellers in the principal market that are independent, knowledgeable and willing and able to transact. See Note B.1. — Summary of Significant Accounting Policies — Valuation of the Investment Portfolio in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q for a detailed discussion of our Valuation Procedures (as defined below).
Due to the inherent uncertainty in the valuation process, our determination of fair value for our Investment Portfolio may differ materially from the values that would have been determined had a ready market for the securities existed. In addition, changes in the market environment, portfolio company performance and other events that may occur over the lives of the investments may cause the gains or losses ultimately realized on these investments to be materially different than the valuations currently assigned. We determine the fair value of each individual investment and record changes in fair value as unrealized appreciation or depreciation.
Rule 2a-5 under the 1940 Act permits a BDC’s board of directors to designate its executive officers or investment adviser as a valuation designee to determine the fair value for its investment portfolio, subject to the active oversight of the board. Our Board of Directors has approved policies and procedures pursuant to Rule 2a-5 (the “Valuation Procedures”) and has designated a group of our executive officers to serve as the Board of Directors’ valuation designee. We believe our Investment Portfolio as of June 30, 2026 and December 31, 2025 approximates fair value as of those dates based on the markets in which we operate and other conditions in existence on those reporting dates.


139
Table of contents                                
Revenue Recognition
Interest and Dividend Income
We record interest and dividend income on the accrual basis to the extent amounts are expected to be collected. Dividend income is recorded as dividends are declared by the portfolio company or at the point an obligation exists for the portfolio company to make a distribution. We evaluate accrued interest and dividend income periodically for collectability. When a loan or debt security becomes 90 days or more past due, and if we otherwise do not expect the debtor to be able to service its debt obligation, we will generally place the loan or debt security on non-accrual status and cease recognizing interest income on that loan or debt security until the borrower has demonstrated the ability and intent to pay contractual amounts due. If a loan or debt security’s status significantly improves regarding the debtor’s ability to service the debt obligation, or if a loan or debt security is repaid, sold or written off, we remove it from non-accrual status. Generally, any interest payments received from investments on non-accrual status reduce the cost basis of our investment and are not recorded as income.
Fee Income
We may periodically provide services, including structuring and advisory services, to our portfolio companies or other third parties. For services that are separately identifiable and evidence exists to substantiate fair value, fee income is recognized as earned, which is generally when the investment or other applicable transaction closes. Fees received in connection with debt financing transactions for services that do not meet these criteria are treated as debt origination fees and are generally deferred and accreted into income over the life of the financing.
Payment-in-Kind (“PIK”) Interest and Cumulative Dividends
We hold certain debt and preferred equity instruments in our Investment Portfolio that contain PIK interest and cumulative dividend provisions. The PIK interest, computed at the contractual rate specified in each debt agreement, is periodically added to the principal balance of the debt and is recorded as interest income. Thus, the actual collection of this interest may be deferred until the time of debt principal repayment. Cumulative dividends are recorded as dividend income, and any dividends in arrears are added to the balance of the preferred equity investment. The actual collection of these dividends in arrears may be deferred until such time as the preferred equity is redeemed or sold. To maintain RIC tax treatment (see Note B.10. — Summary of Significant Accounting Policies — Income Taxes in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q), these non-cash sources of income may need to be paid out to stockholders in the form of distributions, even though we may not have collected the PIK interest and cumulative dividends in cash. We stop accruing PIK interest and cumulative dividends and write off any accrued and uncollected interest and dividends in arrears when we determine that such PIK interest and dividends in arrears are no longer collectible. For the three months ended June 30, 2026 and 2025, (i) 2.9% and 2.3%, respectively, of our total investment income was attributable to PIK interest income not paid currently in cash and (ii) 0.7% and 0.9%, respectively, of our total investment income was attributable to cumulative dividend income not paid currently in cash. For the six months ended June 30, 2026 and 2025, 2.8% and 2.6%, respectively, of our total investment income was attributable to PIK interest income not paid currently in cash. For each of the six months ended June 30, 2026 and 2025, 0.7% of our total investment income was attributable to cumulative dividend income not paid currently in cash.


140
Table of contents                                
INVESTMENT PORTFOLIO COMPOSITION
A summary of the composition of our total combined LMM, Private Loan and Middle Market portfolio investments at cost and fair value by type of investment as a percentage of the total combined LMM, Private Loan and Middle Market portfolio investments as of June 30, 2026 and December 31, 2025 is as follows (this information excludes Other Portfolio investments and the External Investment Manager, which are discussed above):
Cost:June 30, 2026December 31, 2025
First lien debt80.9 %80.9 %
Equity18.3 18.6 
Second lien debt0.4 0.1 
Equity warrants0.2 0.2 
Other0.2 0.2 
100.0 %100.0 %
Fair Value:June 30, 2026December 31, 2025
First lien debt69.6 %69.8 %
Equity29.4 29.4 
Second lien debt0.3 — 
Equity warrants0.5 0.6 
Other0.2 0.2 
100.0 %100.0 %
Our LMM, Private Loan and Middle Market portfolio investments carry a number of risks including: (1) investing in companies which may have limited operating histories and financial resources; (2) holding investments that generally are not publicly traded and which may be subject to legal and other restrictions on resale; and (3) other risks common to investing in below investment-grade debt and equity investments in our Investment Portfolio. See Item 1A. Risk Factors contained in Part II of this Form 10-Q for further information.
PORTFOLIO ASSET QUALITY
We utilize an internally developed investment rating system to rate the performance of each LMM, Private Loan and Middle Market portfolio company and to monitor our expected level of returns on each of our LMM, Private Loan and Middle Market investments in relation to our expectations for the portfolio company. The investment rating system takes into consideration various factors, including, but not limited to, each investment’s expected level of returns, the collectability of our debt investments and the ability to receive a return of the invested capital in our equity investments, comparisons to competitors and other industry participants, the portfolio company’s future outlook and other factors that are deemed to be significant to the portfolio company.
As of June 30, 2026, investments on non-accrual status were $65.2 million at fair value and $198.5 million at cost and comprised 1.1% and 4.0% of our total Investment Portfolio at fair value and cost, respectively. As of December 31, 2025, investments on non-accrual status were $56.3 million at fair value and $155.3 million at cost and comprised 1.0% and 3.3% of our total Investment Portfolio at fair value and cost, respectively.
The operating results of our portfolio companies are impacted by changes in the broader fundamentals of the U.S. economy. In periods during which the U.S. economy contracts, it is likely that the financial results of small to mid-sized companies, like those in which we invest, could experience deterioration or limited growth from current levels, which could ultimately lead to difficulty in meeting their debt service requirements, to an increase in defaults on our debt investments or in realized losses on our investments and to difficulty in maintaining historical dividend payment rates and unrealized appreciation on our equity investments. Consequently, we can provide no assurance that the performance of certain portfolio companies will not be negatively impacted by future economic cycles or other conditions, which could also have a negative impact on our future results.


141
Table of contents                                
DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS
Comparison of the three months ended June 30, 2026 and 2025
Set forth below is a comparison of the results of operations and a reconciliation of net investment income to distributable net investment income and to distributable net investment income before taxes for the three months ended June 30, 2026 and 2025.
Three Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands)
Total investment income$149,572 $143,973 $5,599 4 %
Total expenses(55,775)(50,639)(5,136)10 %
Net investment income before taxes93,797 93,334 463 — %
Excise tax expense(659)(818)159 (19)%
Federal and state income and other tax expenses(2,814)(4,333)1,519 (35)%
Net investment income90,324 88,183 2,141 2 %
Net realized gain32,828 52,420 (19,592)NM
Net unrealized appreciation (depreciation) 32,220 (18,951)51,171 NM
Income tax benefit (provision) on net realized gain and net unrealized appreciation (depreciation)(7,795)882 (8,677)NM
Net increase in net assets resulting from operations$147,577 $122,534 $25,043 20 %
Three Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands, except per share amounts)
Net investment income$90,324 $88,183 $2,141 2 %
Share‑based compensation expense5,807 5,416 391 7 %
Deferred compensation expense1,261 745 516 NM
Distributable net investment income (a)$97,392 $94,344 $3,048 3 %
Excise tax expense659 818 (159)(19)%
Federal and state income and other tax expenses2,814 4,333 (1,519)(35)%
Distributable net investment income before taxes (b)$100,865 $99,495 $1,370 1 %
Net investment income per share—Basic and diluted$0.97 $0.99 $(0.02)(2)%
Distributable net investment income per share—Basic and diluted (a)$1.04 $1.06 $(0.02)(2)%
Distributable net investment income before taxes per share—Basic and diluted (b)$1.08 $1.11 $(0.03)(3)%
___________________________
NM    — Net Change % not meaningful
(a)Distributable net investment income is net investment income as determined in accordance with U.S. GAAP, excluding the impact of share-based compensation expense and deferred compensation expense or benefit. We believe presenting distributable net investment income and the related per share amounts is useful and appropriate supplemental disclosure for analyzing our financial performance since (i) share-based compensation does not require settlement in cash and (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement. However, distributable net investment income is a non-U.S. GAAP measure and should not be considered as a replacement for net investment income or other earnings measures presented in accordance with U.S. GAAP and should be reviewed only in connection with such U.S. GAAP measures in analyzing our financial performance. A reconciliation of net investment income in accordance with U.S. GAAP to distributable net investment income is detailed in the table above.


142
Table of contents                                
(b)Distributable net investment income before taxes is net investment income as determined in accordance with U.S. GAAP, excluding the impact of share-based compensation expense, deferred compensation expense or benefit and any tax expenses included in net investment income. We believe presenting distributable net investment income before taxes and the related per share amounts is useful and appropriate supplemental disclosure for analyzing our financial performance since (i) share-based compensation does not require settlement in cash, (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement and (iii) tax expenses included in net investment income may include (a) excise tax expense, which is not solely attributable to net investment income, and (b) deferred taxes, which are not payable in the current period. However, distributable net investment income before taxes is a non-U.S. GAAP measure and should not be considered as a replacement for net investment income, net investment income before taxes or other earnings measures presented in accordance with U.S. GAAP and should be reviewed only in connection with such U.S. GAAP measures in analyzing our financial performance. A reconciliation of net investment income in accordance with U.S. GAAP to distributable net investment income before taxes is detailed in the table above.
Investment Income
Total investment income for the three months ended June 30, 2026 was $149.6 million, a 4% increase from the $144.0 million for the corresponding period of 2025. A summary of the changes in the comparable period activity is as follows:
Three Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands)
Interest income$112,633 $100,857 $11,776 12 %(a)
Dividend income27,398 37,845 (10,447)(28)%(b)
Fee income9,541 5,271 4,270 81 %(c)
Total investment income$149,572 $143,973 $5,599 4 %(d)
___________________________
(a)The increase in interest income was primarily attributable to higher average levels of income producing Investment Portfolio debt investments, partially offset by (i) a decrease in interest rates, primarily resulting from decreases in benchmark index interest rates on floating rate Investment Portfolio debt investments, and (ii) the negative impact from Investment Portfolio debt investments on non-accrual status.
(b)The decrease in dividend income was primarily a result of dividend income decreases of (i) $8.8 million from our LMM portfolio companies, (ii) $0.8 million from our External Investment Manager and (iii) $0.5 million from our Other Portfolio investments.
(c)The increase in fee income was primarily due to increases of (i) $2.8 million from increased refinancing and prepayment of Investment Portfolio debt investments and (ii) $1.5 million related to increased investment activity.
(d)The increase in total investment income includes a net increase of $1.4 million in certain income considered less consistent or non-recurring, including increases of (i) $3.1 million in such fee income and (ii) $0.8 million in such interest income from accelerated prepayment, repricing and other activity related to certain Investment Portfolio debt investments, partially offset by a decrease of $2.5 million in such dividend income.


143
Table of contents                                
Expenses
Total expenses for the three months ended June 30, 2026 were $55.8 million, a 10% increase from the $50.6 million in the corresponding period of 2025. A summary of the changes in the comparable period activity is as follows:
Three Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands)
Cash compensation$12,978 $11,932 $1,046 9 %(a)
Deferred compensation expense1,261 745 516 NM
Compensation14,239 12,677 1,562 12 %
General and administrative5,718 5,919 (201)(3)%
Interest36,637 32,519 4,118 13 %(b)
Share-based compensation5,807 5,416 391 7 %
Gross expenses62,401 56,531 5,870 10 %
Expenses allocated to the External Investment Manager(6,626)(5,892)(734)12 %(c)
Total expenses$55,775 $50,639 $5,136 10 %
___________________________
NM    — Net Change % not meaningful
(a)The increase in cash compensation was primarily attributable to increases in employee headcount to support our growing Investment Portfolio and asset management activities, base compensation rates and other compensation related accruals.
(b)The increase in interest expense was primarily related to an increase in average borrowings outstanding used to fund a portion of the growth of our Investment Portfolio, partially offset by a decreased weighted-average interest rate on our Credit Facilities (as defined in the Liquidity and Capital Resources section below) due to decreases in benchmark index rates.
(c)The increase in expenses allocated to the External Investment Manager was primarily driven by the increased compensation expenses.
Net Investment Income
Net investment income for the three months ended June 30, 2026 increased 2% to $90.3 million, or $0.97 per share, compared to $88.2 million, or $0.99 per share, in the corresponding period of 2025. The increase in net investment income is the result of (i) the increase in total investment income, as discussed above, and (ii) the decrease in net investment income related tax expenses, as discussed below, partially offset by the increase in the total expenses, as discussed above. The decrease in net investment income per share reflects the increase in net investment income after the impact of the increase in weighted-average shares outstanding for the three months ended June 30, 2026, primarily due to shares issued since the beginning of the comparable period of the prior year through our (i) at-the-market offering program (the “ATM Program”), (ii) dividend reinvestment plan (“DRIP”) and (iii) equity incentive compensation plans. The decrease in net investment income on a per share basis is after a net increase of $0.01 per share resulting from an increase in investment income considered less consistent or non-recurring in nature, as discussed above.
Distributable Net Investment Income
Distributable net investment income for the three months ended June 30, 2026 increased 3% to $97.4 million, or $1.04 per share, compared to $94.3 million, or $1.06 per share, in the corresponding period of 2025. The increase in distributable net investment income was primarily due to the increase in net investment income, as discussed above, excluding the negative impact of the increases in (i) deferred compensation expense and (ii) share-based compensation expense. The decrease in distributable net investment income per share reflects the increase in distributable net investment income after the impact of the increase in weighted-average shares outstanding for the three months ended June 30, 2026, as discussed above. The decrease in distributable net investment income on a per share basis is after a $0.01 per share increase in investment income considered less consistent or non-recurring in nature, as discussed above.


144
Table of contents                                
Net Realized Gain
A summary of the primary components of the total net realized gain on investments of $32.8 million for the three months ended June 30, 2026 is as follows:
Three Months Ended June 30, 2026
Full ExitsPartial ExitsRestructuresOther (a)Total
Net Gain/(Loss)# of Portfolio CompaniesNet Gain/(Loss)# of Portfolio CompaniesNet Gain/(Loss)# of Portfolio CompaniesNet Gain/(Loss)Net Gain/(Loss)
(dollars in thousands)
LMM portfolio$46,401 1$— —$— —$(250)$46,151 
Private Loan portfolio— —— —(13,282)1420 (12,862)
Middle Market portfolio— —— —— —— — 
Other Portfolio— —— —— —(461)(461)
Total net realized gain (loss)$46,401 1$— —$(13,282)1$(291)$32,828 
___________________________
(a)Other activity includes realized gains and losses from transactions involving 14 portfolio companies which are not considered to be significant individually or in the aggregate.
Net Unrealized Appreciation
A summary of the total net unrealized appreciation of $32.2 million for the three months ended June 30, 2026 is as follows:
Three Months Ended June 30, 2026
LMM (a)Private
Loan		Middle
Market		OtherTotal
(in thousands)
Accounting reversals of net unrealized (appreciation) depreciation recognized in prior periods due to net realized (gains / income) losses recognized during the current period$(47,202)$11,052 $— $461 $(35,689)
Net unrealized appreciation (depreciation) relating to portfolio investments54,757 20,211 (487)(6,572)(b)67,909 
Total net unrealized appreciation (depreciation) relating to portfolio investments$7,555 $31,263 $(487)$(6,111)$32,220 
___________________________
(a)Includes unrealized appreciation on 38 LMM portfolio investments and unrealized depreciation on 28 LMM portfolio investments.
(b)Includes $7.9 million of unrealized depreciation related to the External Investment Manager.
Income Taxes
Main Street’s income taxes include excise tax expense at MSCC and federal and state income and other tax expenses at the Taxable Subsidiaries. MSCC has elected to be treated for U.S. federal income tax purposes as a RIC. MSCC’s taxable income includes the taxable income generated by MSCC and certain of its subsidiaries, including the Funds and Structured Subsidiaries, which are treated as disregarded entities for tax purposes. As a result of its investment activities and dividend policy and activities, MSCC incurs federal excise tax on its estimated undistributed taxable income. The Taxable Subsidiaries incur federal and state income and other taxes related to net investment income resulting from the Taxable Subsidiaries’ investment activities. The excise tax expense decrease for the three months ended June 30, 2026 when compared to the prior year is due to a reduction in our estimated undistributed taxable income at MSCC, which is taxed at a 4% rate. The net investment income related federal and state income and other tax expenses decrease for the three months ended June 30, 2026 when compared to the prior year is due to decreases in taxable net investment income at the Taxable Subsidiaries.
The Taxable Subsidiaries also incur taxes on realized gains (losses) and unrealized appreciation (depreciation). These taxes will change over time due to changes in the valuations of portfolio investments and realized gains and losses, in each case, on our investments owned by the Taxable Subsidiaries.


145
Table of contents                                
Net Increase in Net Assets Resulting from Operations
The net increase in net assets resulting from operations for the three months ended June 30, 2026 increased 20% to $147.6 million, or $1.58 per share, compared to $122.5 million, or $1.37 per share, for the three months ended June 30, 2025. The tables above provide a summary of the reasons for the change in net increase in net assets resulting from operations for the three months ended June 30, 2026 as compared to the three months ended June 30, 2025.
Comparison of the six months ended June 30, 2026 and 2025
Set forth below is a comparison of the results of operations, and a reconciliation of net investment income to distributable net investment income and distributable net investment income before taxes for the six months ended June 30, 2026 and 2025.
Six Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands)
Total investment income$289,678 $281,019 $8,659 3 %
Total expenses(108,038)(97,875)(10,163)10 %
Net investment income before taxes181,640 183,144 (1,504)(1)%
Excise tax expense(1,040)(2,159)1,119 (52)%
Federal and state income and other tax expenses(5,697)(6,905)1,208 (17)%
Net investment income174,903 174,080 823 — %
Net realized gain50,801 22,875 27,926 NM
Net unrealized appreciation (depreciation)(18,379)44,239 (62,618)NM
Income tax provision on net realized gain and net unrealized appreciation (depreciation)(10,767)(2,578)(8,189)NM
Net increase in net assets resulting from operations$196,558 $238,616 $(42,058)(18)%
Six Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands, except per share amounts)
Net investment income$174,903 $174,080 $823 — %
Share‑based compensation expense10,912 10,258 654 6 %
Deferred compensation expense2,363 925 1,438 NM
Distributable net investment income (a)$188,178 $185,263 $2,915 2 %
Excise tax expense1,040 2,159 (1,119)(52)%
Federal and state income and other tax expenses5,697 6,905 (1,208)(17)%
Distributable net investment income before taxes (b)$194,915 $194,327 $588 — %
Net investment income per share—Basic and diluted$1.90 $1.96 $(0.06)(3)%
Distributable net investment income per share—Basic and diluted (a)$2.05 $2.08 $(0.03)(1)%
Distributable net investment income before taxes per share—Basic and diluted (b)$2.12 $2.18 $(0.06)(3)%
____________________
NM — Net change % not meaningful
(a)Distributable net investment income is net investment income as determined in accordance with U.S. GAAP, excluding the impact of share-based compensation expense and deferred compensation expense or benefit. We believe presenting distributable net investment income and the related per share amounts is useful and appropriate supplemental disclosure for analyzing our financial performance since (i) share-based compensation does not require settlement in cash and (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement. However, distributable net investment income is a non-U.S. GAAP measure and should not be considered as a replacement for net investment income or other earnings measures presented in accordance with U.S. GAAP and should be reviewed only in connection with such U.S. GAAP measures in analyzing our financial performance. A reconciliation of net investment income in accordance with U.S. GAAP to distributable net investment income is detailed in the table above.


146
Table of contents                                
(b)Distributable net investment income before taxes is net investment income as determined in accordance with U.S. GAAP, excluding the impact of share-based compensation expense, deferred compensation expense or benefit and any tax expenses included in net investment income. We believe presenting distributable net investment income before taxes and the related per share amounts is useful and appropriate supplemental disclosure for analyzing our financial performance since (i) share-based compensation does not require settlement in cash, (ii) deferred compensation expense or benefit does not result in a net cash impact to Main Street upon settlement and (iii) tax expenses included in net investment income may include (a) excise tax expense, which is not solely attributable to net investment income, and (b) deferred taxes, which are not payable in the current period. However, distributable net investment income before taxes is a non-U.S. GAAP measure and should not be considered as a replacement for net investment income, net investment income before taxes or other earnings measures presented in accordance with U.S. GAAP and should be reviewed only in connection with such U.S. GAAP measures in analyzing our financial performance. A reconciliation of net investment income in accordance with U.S. GAAP to distributable net investment income before taxes is detailed in the table above.
Investment Income
Total investment income for the six months ended June 30, 2026 was $289.7 million, a 3% increase from the $281.0 million for the corresponding period of 2025. A summary of the changes in the comparable period activity is as follows:
Six Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands)
Interest income$217,939 $198,874 $19,065 10 %(a)
Dividend income55,594 73,871 (18,277)(25)%(b)
Fee income16,145 8,274 7,871 95 %(c)
Total investment income$289,678 $281,019 $8,659 3 %(d)
____________________
(a)The increase in interest income was primarily attributable to higher average levels of income producing Investment Portfolio debt investments, partially offset by (i) a decrease in interest rates, primarily resulting from decreases in benchmark index interest rates on floating rate Investment Portfolio debt investments, and (ii) the negative impact from Investment Portfolio debt investments on non-accrual status.
(b)The decrease in dividend income was primarily a result of decreases of (i) $16.9 million from our LMM portfolio companies and (ii) $1.0 million from our Private Loan portfolio companies.
(c)The increase in fee income was primarily due to increases of (i) $4.1 million related to increased investment activity and (ii) $3.8 million from increased refinancing and repayment of Investment Portfolio debt investments.
(d)The increase in total investment income includes a net increase of $3.1 million in certain income considered less consistent or non-recurring, including increases of (i) $4.1 million increase in such fee income and (ii) $0.9 million in such interest income from accelerated prepayment, repricing and other activity related to certain Investment Portfolio debt investments, partially offset by a decrease of $1.8 million in such dividend income.


147
Table of contents                                
Expenses
Total expenses for the six months ended June 30, 2026 were $108.0 million, a 10% increase from the $97.9 million in the corresponding period of 2025. A summary of the changes in the comparable period activity is as follows:
Six Months Ended
June 30,
Net Change
2026
2025
Amount%
(dollars in thousands)
Cash compensation$25,061 $23,228 $1,833 8 %(a)
Deferred compensation expense2,363 925 1,438 NM
Compensation27,424 24,153 3,271 14 %
General and administrative11,114 11,005 109 1 %
Interest70,680 63,687 6,993 11 %(b)
Share-based compensation10,912 10,258 654 6 %
Gross expenses120,130 109,103 11,027 10 %
Expenses allocated to the External Investment Manager(12,092)(11,228)(864)8 %
Total expenses$108,038 $97,875 $10,163 10 %
____________________
NM    — Net Change % not meaningful
(a)The increase in cash compensation was primarily attributable to increases in employee headcount to support our growing Investment Portfolio and asset management activities, base compensation rates and other compensation related accruals.
(b)The increase in interest expense was primarily related to an increase in average borrowings outstanding used to fund a portion of the growth of our Investment Portfolio, partially offset by a decreased weighted-average interest rate on our Credit Facilities due to decreases in benchmark index rates and a decreased weighted-average interest rate on our unsecured debt borrowings as a result of borrowing and refinancing activities.
Net Investment Income
Net investment income for the six months ended June 30, 2026 increased 0.5% to $174.9 million, or $1.90 per share, compared to $174.1 million, or $1.96 per share, in the corresponding period of 2025. The increase in net investment income is the result of (i) the increase in total investment income, as discussed above, and (ii) the decrease in net investment income related tax expenses, as discussed below, partially offset by the increase in the total expenses, as discussed above. The decrease in net investment income per share reflects the increase in net investment income after the impact of the increase in weighted-average shares outstanding for the six months ended June 30, 2026, primarily due to shares issued since the beginning of the comparable period of the prior year through our (i) ATM Program, (ii) DRIP and (iii) equity incentive compensation plans. The decrease in net investment income on a per share basis is after a net increase of $0.02 per share resulting from items considered less consistent or non-recurring in nature, including a $0.03 per share increase in such investment income, as discussed above, partially offset by a $0.01 per share increase in deferred compensation expenses.
Distributable Net Investment Income
Distributable net investment income for the six months ended June 30, 2026 increased 2% to $188.2 million, or $2.05 per share, compared to $185.3 million, or $2.08 per share, in the corresponding period of 2025. The increase in distributable net investment income was primarily due to the increase in net investment income, as discussed above, excluding the negative impact of increases in (i) deferred compensation expense and (ii) share-based compensation expense. The decrease in distributable net investment income per share reflects the increase in distributable net investment income after the impact of the increase in weighted-average shares outstanding for the six months ended June 30, 2026, as discussed above. The decrease in distributable net investment income on a per share basis is after a $0.03 per share increase in investment income considered less consistent or non-recurring in nature, as discussed above.


148
Table of contents                                
Net Realized Gain
A summary of the primary components of the total net realized gain on investments of $50.8 million for the six months ended June 30, 2026 is as follows:
Six Months Ended June 30, 2026
Full ExitsPartial ExitsRestructuresOther (a)Total
Net Gain/(Loss)# of Portfolio CompaniesNet Gain/(Loss)# of Portfolio CompaniesNet Gain/(Loss)# of Portfolio CompaniesNet Gain/(Loss)Net Gain/(Loss)
(dollars in thousands)
LMM portfolio$62,140 3$— —$— —$(289)$61,851 
Private Loan portfolio23 3— —(13,282)1820 (12,439)
Middle Market portfolio— —— —— —1 1 
Other Portfolio— —1,849 2— —(461)1,388 
Total net realized gain (loss)$62,163 6$1,849 2$(13,282)1$71 $50,801 
____________________
(a)Other activity includes realized gains and losses from transactions involving 17 portfolio companies which are not considered to be significant individually or in the aggregate.
Net Unrealized Depreciation
A summary of the total net unrealized depreciation of $18.4 million for the six months ended June 30, 2026 is as follows:
Six Months Ended June 30, 2026
LMM (a)Private
Loan		Middle
Market		OtherTotal
(in thousands)
Accounting reversals of net unrealized (appreciation) depreciation recognized in prior periods due to net realized (gains / income) losses recognized during the current period$(63,890)$10,161 $— $(1,388)$(55,117)
Net unrealized appreciation (depreciation) relating to portfolio investments84,059 (15,740)(3,403)(28,178)(b)36,738 
Total net appreciation (depreciation) relating to portfolio investments$20,169 $(5,579)$(3,403)$(29,566)$(18,379)
____________________
(a)Includes unrealized appreciation on 42 LMM portfolio investments and unrealized depreciation on 34 LMM portfolio investments.
(b)Includes $29.8 million of unrealized depreciation related to the External Investment Manager.
Income Taxes
Main Street’s income taxes include excise tax expense at MSCC and federal and state income and other tax expenses at the Taxable Subsidiaries. MSCC has elected to be treated for U.S. federal income tax purposes as a RIC. MSCC’s taxable income includes the taxable income generated by MSCC and certain of its subsidiaries, including the Funds and Structured Subsidiaries, which are treated as disregarded entities for tax purposes. As a result of its investment activities and dividend policy and activities, MSCC incurs federal excise tax on its estimated undistributed taxable income. The Taxable Subsidiaries incur federal and state income and other taxes related to net investment income resulting from the Taxable Subsidiaries’ investment activities. The excise tax expense decrease for the six months ended June 30, 2026 when compared to the prior year is due to a reduction in our estimated undistributed taxable income at MSCC, which is taxed at a 4% rate. The net investment income related federal and state income and other tax expenses decrease for the six months ended June 30, 2026 when compared to the prior year is due to decreases in taxable net investment income at the Taxable Subsidiaries.
The Taxable Subsidiaries also incur taxes on realized gains (losses) and unrealized appreciation (depreciation). These taxes will change over time due to changes in the valuations of portfolio investments and realized gains and losses, in each case, on our investments owned by the Taxable Subsidiaries.


149
Table of contents                                
Net Increase in Net Assets Resulting from Operations
The net increase in net assets resulting from operations for the six months ended June 30, 2026 was $196.6 million, or $2.14 per share, compared to $238.6 million, or $2.68 per share, for the six months ended June 30, 2025. The tables above provide a summary of the reasons for the change in net increase in net assets resulting from operations for the six months ended June 30, 2026 as compared to the six months ended June 30, 2025.
LIQUIDITY AND CAPITAL RESOURCES
Cash Flows
For the six months ended June 30, 2026, we realized a net increase in cash and cash equivalents of $16.3 million, which is the net result of $22.0 million of cash used in our operating activities and $38.3 million of cash provided by our financing activities.
The $22.0 million of cash used in our operating activities resulted primarily from (i) cash uses totaling $733.2 million for the funding of new and follow-on portfolio investments and (ii) $11.5 million in net cash uses related to other assets and liabilities, partially offset by (i) cash proceeds totaling $551.8 million from the repayments of debt investments and sales of and return of capital from equity investments and (ii) cash flows that we generated from the operating profits earned totaling $173.6 million, which is our distributable net investment income, excluding the non-cash effects of net investment income related deferred taxes, the accretion of unearned income, PIK interest income, cumulative dividends and the amortization expense for deferred financing costs.
The $38.3 million of cash provided by our financing activities principally consisted of (i) $200.0 million in cash proceeds from the issuance of additional aggregate principal amount of the March 2029 Notes (as defined below), (ii) $153.2 million in net cash proceeds from equity offerings from our ATM Program and (iii) $150.0 million in cash proceeds from the issuance of aggregate principal amount of the April 2031 Notes (as defined below), partially offset by (i) $277.0 million in net repayments from our Credit Facilities, (ii) $177.8 million in dividends paid to our stockholders, (iii) $9.0 million in purchases of vested stock for employee payroll tax withholdings and (iv) $1.1 million for the payment of debt issuance costs.
Capital Resources
As of June 30, 2026, we had $58.3 million in cash and cash equivalents and $1.095 billion of unused capacity, which is after a reduction of $500.0 million to provide for the scheduled repayment of the July 2026 Notes (as defined below) at maturity, under our Credit Facilities, which we maintain to support our investment and operating activities. As of June 30, 2026, our NAV totaled $3.2 billion, or $33.92 per share.
In June 2026, we entered into an amendment to our multi-year revolving credit facility (the “Corporate Facility”), to among other things: (i) increase the revolving commitments to $1.240 billion, (ii) increase the accordion feature providing us with the right to request increases in commitments under the facility from new and existing lenders on the same terms and conditions as the existing commitments to up to a total of $1.860 billion and (iii) extend the revolving period and final maturity date through June 2030 and to June 2031, respectively. As of June 30, 2026, we had $26.0 million outstanding and $710.1 million of undrawn commitments under our Corporate Facility, which is after a reduction of $500.0 million to provide for the scheduled repayment of the July 2026 Notes at maturity, and we, through MSCC Funding, had $215.0 million outstanding and $385.0 million of undrawn commitments under our special purpose vehicle revolving credit facility (the “SPV Facility” and, together with the Corporate Facility, the “Credit Facilities”), both of which approximated fair value. Availability under our Credit Facilities is subject to certain leverage and borrowing base limitations, covenants, reporting and other requirements customary for similar credit facilities.
For further information on our Credit Facilities, including key terms and financial covenants, refer to Note E — Debt in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
In January 2024, we issued $350.0 million in aggregate principal amount of 6.95% unsecured notes due March 1, 2029 (the “March 2029 Notes”). In March 2026, we issued an additional $200.0 million in aggregate principal amount of the March 2029 Notes at a public offering price of 102.061% resulting in a yield-to-worst of 6.164% on such issuance. The March 2029 Notes issued in March 2026 have identical terms as, and are a part of a single series with, the March 2029 Notes issued in January 2024. The outstanding aggregate principal amount of the March 2029 Notes was $550.0 million and $350.0 million as of June 30, 2026 and December 31, 2025, respectively. The $550.0 million of outstanding March 2029 Notes bear interest at 6.95% per year with a yield-to-maturity of 6.68% as of June 30, 2026.


150
Table of contents                                
In January 2021, we issued $300.0 million in aggregate principal amount of 3.00% unsecured notes due July 14, 2026 (the “July 2026 Notes”). In October 2021, we issued an additional $200.0 million in aggregate principal amount of the July 2026 Notes. The outstanding aggregate principal amount of the July 2026 Notes was $500.0 million as of both June 30, 2026 and December 31, 2025. In July 2026, we repaid the entire $500.0 million in aggregate principal amount of the July 2026 Notes at maturity at par value plus the accrued and unpaid interest.
In June 2024, we issued $300.0 million in aggregate principal amount of 6.50% unsecured notes due June 4, 2027 (the “June 2027 Notes”). In September 2024, we issued an additional $100.0 million in aggregate principal amount of the June 2027 Notes at a public offering price of 102.134% resulting in a yield-to-maturity of 5.617% on such issuance. The June 2027 Notes issued in September 2024 have identical terms as, and are a part of a single series with, the June 2027 Notes issued in June 2024. The outstanding aggregate principal amount of the June 2027 Notes was $400.0 million and bear interest at a rate of 6.50% per year with a yield-to-maturity of approximately 6.34% as of both June 30, 2026 and December 31, 2025.
In August 2025, we issued $350.0 million in aggregate principal amount of 5.40% unsecured notes due August 15, 2028 (the “August 2028 Notes”). The outstanding aggregate principal amount of the August 2028 Notes was $350.0 million as of both June 30, 2026 and December 31, 2025.
Through the Funds, we have the ability to issue SBIC debentures guaranteed by the SBA at favorable interest rates and favorable terms and conditions. Under previous SBIC regulations, SBA-approved SBICs under common control had the ability to issue debentures guaranteed by the SBA up to a regulatory maximum amount of $350.0 million. In May 2026, the Investing in All of America Act was enacted, increasing the maximum leverage available to commonly controlled SBICs. This allows access to an additional $125.0 million of SBIC debenture capacity above the previous $350.0 million maximum, bringing total potential capacity to $475.0 million. Under existing SBA-approved commitments, we, through the Funds, had $350.0 million of outstanding SBIC debentures guaranteed by the SBA as of June 30, 2026, which bear a weighted-average annual fixed interest rate of 3.3%, paid semiannually, and mature ten years from issuance. The first maturity related to our SBIC debentures occurs in March 2027, and the weighted-average remaining duration is 4.1 years as of June 30, 2026. Debentures guaranteed by the SBA have fixed interest rates that equal prevailing 10-year Treasury Note rates plus a market spread and have a maturity of ten years with interest payable semiannually. The principal amount of the debentures is not required to be paid before maturity, but may be pre-paid at any time with no prepayment penalty. We expect to maintain SBIC debentures under the SBIC program in the future, subject to periodic repayments and borrowings, in an amount up to the regulatory maximum amount for affiliated SBIC funds.
In April 2026, we issued $150.0 million in aggregate principal amount of 6.93% Series A Senior Notes due April 15, 2031 (the “April 2031 Notes”). The outstanding aggregate principal amount of the April 2031 Notes was $150.0 million as of June 30, 2026.
In September 2025, we repaid the entire $100.0 million principal amount of the issued and outstanding 7.84% unsecured notes and the entire $50.0 million principal amount of the issued and outstanding 7.53% unsecured notes (collectively, the “December 2025 Notes”) prior to maturity at par value plus the accrued and unpaid interest.
We maintain the ATM Program with certain selling agents through which we can sell up to 20,000,000 shares of our common stock by means of at-the-market offerings from time to time. During the six months ended June 30, 2026, we sold 2,790,683 shares of our common stock at a weighted-average price of $55.43 per share and raised $154.7 million of gross proceeds under the ATM Program, or net proceeds of $152.9 million after commissions to the selling agents on shares sold and offering costs. As of June 30, 2026, sales transactions representing 5,159 shares had not settled and thus were not issued and not included in shares issued and outstanding on the face of the Consolidated Balance Sheets, but are included as outstanding on the Consolidated Statement of Changes in Net Assets, in the weighted-average shares outstanding in the Consolidated Statements of Operations and in the shares used to calculate the NAV per share. As of June 30, 2026, 16,740,256 shares remained available for sale under the ATM Program.
During the year ended December 31, 2025, we sold 540,423 shares of our common stock at a weighted-average price of $59.01 per share and raised $31.9 million of gross proceeds under the ATM Program. Net proceeds were $31.3 million after commissions to the selling agents on shares sold and offering costs.
We anticipate that we will continue to fund our investment activities through existing cash and cash equivalents, cash flows generated through our ongoing operating activities, utilization of available borrowings under our Credit Facilities, and a combination of future issuances of debt and equity capital. Our primary uses of funds will be investments in portfolio companies, operating expenses, cash distributions to holders of our common stock and repayments of note and debenture obligations as they come due.


151
Table of contents                                
We periodically invest excess cash balances into marketable securities and short-term investments. The primary investment objective of marketable securities and short-term investments is to generate incremental cash returns on excess cash balances prior to utilizing those funds for investment in our LMM and Private Loan portfolio investments. Marketable securities generally consist of money market funds and certificates of deposit with financial institutions. Short-term portfolio investments consist primarily of investments in secured debt investments and independently rated debt investments.
If our common stock trades below our NAV per share, we will generally not be able to issue additional common stock at the market price, unless our stockholders approve such a sale and our Board of Directors makes certain determinations. We did not seek stockholder authorization to sell shares of our common stock below the then current NAV per share of our common stock at our 2026 Annual Meeting of Stockholders, and have not sought such authorization since 2012, because our common stock price per share has generally traded significantly above the NAV per share of our common stock since 2011, except for a brief period during market disruptions related to the COVID-19 pandemic. We would therefore need future approval from our stockholders to issue shares below the then current NAV per share.
In order to satisfy the Code requirements applicable to a RIC, we intend to distribute to our stockholders, after consideration and application of our ability under the Code to carry forward certain excess undistributed taxable income from one tax year into the next tax year, substantially all of our taxable income.
In accordance with the 1940 Act, we are allowed to borrow amounts such that our asset coverage ratio, or BDC asset coverage ratio, of our total assets to our total senior securities, which includes borrowings and any preferred stock we may issue in the future, is at least 150% after such borrowing. In January 2008, we received exemptive relief from the SEC to exclude SBA-guaranteed debt securities issued by the Funds and any other wholly-owned subsidiaries of ours which operate as SBICs from the BDC asset coverage ratio which, in turn, enables us to fund more investments with debt capital. Upon receipt of stockholder approval in accordance with the 1940 Act, our BDC asset coverage ratio requirement was reduced from 200% to 150% effective May 3, 2022. As of June 30, 2026, our BDC asset coverage ratio was 244%.
Although we have been able to secure access to additional liquidity, including through our Credit Facilities, public and private debt issuances, leverage available through the SBIC program and equity offerings, there is no assurance that debt or equity capital will be available to us in the future on favorable terms, or at all.
Recently Issued or Adopted Accounting Standards
From time to time, new accounting pronouncements are issued by the FASB or other standards-setting bodies that are adopted by us as of the specified effective date. We believe that the impact of recently issued standards and any that are not yet effective will not have a material impact on our consolidated financial statements upon adoption. For a description of recently issued or adopted accounting standards, see Note B.15. — Summary of Significant Accounting Policies — Recently Issued or Adopted Accounting Standards in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q.
Inflation
Inflation has not historically had a significant effect on our results of operations in any of the reporting periods presented herein. However, our portfolio companies have experienced, specifically including over the last few years, as a result of recent geopolitical events, uncertainty with respect to the imposition of tariffs on and trade disputes with certain countries, supply chain and labor issues, and may continue to experience, the increasing impacts of inflation on their operating results, including periodic escalations in their costs for labor, raw materials and third-party services and required energy consumption. These issues and challenges related to inflation are receiving significant attention from our investment teams and the management teams of our portfolio companies as we work to manage these growing challenges. Prolonged or more severe impacts of inflation to our portfolio companies could continue to affect their operating profits and, thereby, increase their borrowing costs, and as a result negatively impact their ability to service their debt obligations and/or reduce their available cash for distributions. In addition, these factors could have a negative effect on the fair value of our investments in these portfolio companies. The combined impacts therefrom in turn could negatively affect our results of operations.
Off-Balance Sheet Arrangements
We may be a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financial needs of our portfolio companies. These instruments include commitments to extend credit and fund equity capital and involve, to varying degrees, elements of liquidity and credit risk in excess of the amount recognized in the Consolidated Balance Sheets. As of June 30, 2026, we had a total of $395.4 million in outstanding commitments comprised of (i) 73 investments with commitments to fund revolving loans that had not been fully drawn or term loans with additional commitments not yet funded and (ii) 11 investments with equity capital commitments that had not been fully called.


152
Table of contents                                
Contractual Obligations
As of June 30, 2026, the future commitments for cash payments in connection with our Credit Facilities, the March 2029 Notes, the July 2026 Notes, the June 2027 Notes, the August 2028 Notes, SBIC debentures, the April 2031 Notes and rent obligations under our office lease for each of the next five years and thereafter are as follows:
2026
2027
2028
2029
2030
Thereafter
Total
(in thousands)
Corporate Facility (1)$— $— $— $— $— $26,000 $26,000 
SPV Facility (1)— — — — 215,000 — 215,000 
March 2029 Notes— — — 550,000 — — 550,000 
Interest due on March 2029 Notes19,113 38,225 38,225 19,113 — — 114,676 
July 2026 Notes500,000 — — — — — 500,000 
Interest due on July 2026 Notes7,500 — — — — — 7,500 
June 2027 Notes— 400,000 — — — — 400,000 
Interest due on June 2027 Notes13,000 13,000 — — — — 26,000 
August 2028 Notes— — 350,000 — — — 350,000 
Interest due on August 2028 Notes9,450 18,900 18,900 — — — 47,250 
SBIC debentures— 75,000 75,000 — 35,000 165,000 350,000 
Interest due on SBIC debentures5,726 10,651 8,128 6,170 6,006 18,558 55,239 
April 2031 Notes— — — — — 150,000 150,000 
Interest due on April 2031 Notes5,400 10,395 10,395 10,395 10,395 5,198 52,178 
Operating Lease Obligation (2)
623 1,267 1,289 1,310 1,333 4,483 10,305 
Total$560,812 $567,438 $501,937 $586,988 $267,734 $369,239 $2,854,148 
___________________________
(1)Future interest payments on our Credit Facilities have not been included, as these amounts fluctuate over time depending on the current interest rates and amounts outstanding.
(2)Operating Lease Obligation means a rent payment obligation under a lease classified as an operating lease and disclosed pursuant to ASC 842, as may be modified or supplemented.
Related Party Transactions and Agreements
We have entered into agreements and transactions with the External Investment Manager, MSC Income, Private Loan Fund I and Private Loan Fund II, whereby we have made debt and equity investments and receive certain fees, expense reimbursements and investment income. See Note D — External Investment Manager and Note L — Related Party Transactions in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q for additional information regarding these related party transactions and agreements.
In addition, Main Street’s Nonqualified Supplemental Deferred Compensation Plan (the “Deferred Compensation Plan”) allows non-employee directors and certain employees to defer receipt of some or all of their cash compensation or directors’ fees in accordance with the terms of the Deferred Compensation Plan. See Note B.9. — Summary of Significant Accounting Policies — Deferred Compensation Plan and Note L — Related Party Transactions in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q for additional information regarding the Deferred Compensation Plan.
Recent Developments
In August 2026, we declared a supplemental dividend of $0.30 per share payable in September 2026. This supplemental dividend is in addition to the previously announced regular monthly dividends that we declared of $0.265 per share for each month of July, August and September 2026 or total regular monthly dividends of $0.795 per share for the third quarter of 2026, resulting in total dividends declared for the third quarter of 2026 of $1.095 per share.
In August 2026, we also declared regular monthly dividends of $0.265 per share for each month of October, November and December of 2026. These regular monthly dividends equal a total of $0.795 per share for the fourth quarter of 2026, representing a 3.9% increase from the regular monthly dividends paid in the fourth quarter of 2025. Including the regular monthly and supplemental dividends declared through the fourth quarter of 2026, we will have paid $51.205 per share in cumulative dividends since our October 2007 initial public offering.


153
Table of contents                                
In August 2026, our Board of Directors authorized us to enter into a share purchase plan to purchase up to $20.0 million of shares of MSC Income’s common stock in the open market for a period beginning in September 2026 and ending in February 2027 at times when the market price per share of MSC Income’s common stock is trading below the most recently reported NAV per share of the common stock by certain pre-determined levels. The purchases of shares of MSC Income common stock pursuant to the share purchase plan are intended to satisfy the conditions of Rule 10b5-1 and Rule 10b-18 under the Exchange Act and will otherwise be subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. MSC Income’s board of directors also authorized MSC Income to enter into a share repurchase plan to purchase up to $20.0 million of shares of its common stock, with the terms and conditions substantially similar between our share purchase plan for shares of MSC Income common stock and MSC Income’s share repurchase plan, and daily purchases under the two plans, if any, are expected to be split pro rata (or as close thereto as reasonably possible) between us and MSC Income based on the respective plan sizes.
Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
We are subject to financial market risks, including changes in interest rates, and changes in interest rates may affect both our interest expense on the debt outstanding under our Credit Facilities and our interest income from portfolio investments. Our risk management systems and procedures are designed to identify and analyze our risk, to set appropriate policies and limits and to continually monitor these risks. Our investment income will be affected by changes in various interest rate indices, including SOFR and Prime rates, to the extent that any debt investments include floating interest rates. See Risk Factors — Risks Related to our Business and Structure — We are subject to risks associated with the interest rate environment and changes in interest rates will affect our cost of capital, net investment income and the value of our investments. and Risk Factors — Risks Related to Leverage — Because we borrow money, the potential for gain or loss on amounts invested in us is magnified and may increase the risk of investing in us. included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 for more information regarding risks associated with our debt investments and borrowings that utilize SOFR or Prime as a reference rate.
The majority of our debt investments are made with either fixed interest rates or floating rates that are subject to contractual minimum interest rates for the term of the investment. As of June 30, 2026, 61% of our Investment Portfolio debt investments (at cost) bore interest at floating rates, 96% of which were subject to contractual minimum interest rates. As of June 30, 2026, 91% of our debt obligations bore interest at fixed rates. Our interest expense will be affected by changes in the published SOFR in connection with our Credit Facilities; however, the interest rates on our outstanding March 2029 Notes, July 2026 Notes, June 2027 Notes, August 2028 Notes, SBIC debentures and April 2031 Notes, which collectively comprise the majority of our outstanding debt, are fixed for the life of such debt. As of June 30, 2026, we had not entered into any interest rate hedging arrangements. Due to our limited use of derivatives, we have claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act and, therefore, are not subject to registration or regulation as a pool operator thereunder. The Company operates, and expects to continue to operate, as a “limited derivatives user” under Rule 18f-4 under the 1940 Act. In addition, the investment management and other services provided by our External Investment Manager also involve floating rate debt investments and floating rate debt obligations, and as a result the incentive fees earned by our External Investment Manager, and the corresponding benefits to our net investment income contributions from our External Investment Manager, are subject to change based upon any changes in floating benchmark index interest rates.


154
Table of contents                                
The approximate annualized increase or decrease in the components of net investment income due to hypothetical base rate changes in interest rates, assuming no changes in our investments and borrowings, or in the investments and borrowings related to the investment management and other services provided by our External Investment Manager, in both cases, as of June 30, 2026, is as follows:
Basis Point ChangeIncrease
(Decrease)
in Interest
Income		(Increase)
Decrease
in Interest
Expense		Increase
(Decrease) in Net
Investment
Income from the
External Investment
Manager (1)		Increase
(Decrease) in Net
Investment
Income		Increase
(Decrease) in Net
Investment
Income per Share
(dollars in thousands, except per share amounts)
(200)$(45,033)$4,820 $(2,356)$(42,569)$(0.46)
(175)(40,142)4,218 (2,063)(37,987)(0.41)
(150)(34,541)3,615 (1,641)(32,567)(0.35)
(125)(28,788)3,013 (974)(26,749)(0.29)
(100)(23,034)2,410 (617)(21,241)(0.23)
(75)(17,281)1,808 (463)(15,936)(0.17)
(50)(11,528)1,205 (309)(10,632)(0.11)
(25)(5,774)603 (155)(5,326)(0.06)
255,669 (603)152 5,218 0.06 
5011,262 (1,205)302 10,359 0.11 
7516,760 (1,808)600 15,552 0.17 
10022,257 (2,410)747 20,594 0.22 
12527,755 (3,013)893 25,635 0.27 
15033,253 (3,615)1,039 30,677 0.33 
17538,751 (4,218)1,185 35,718 0.38 
20044,249 (4,820)1,332 40,761 0.44 
___________________________
(1)Main Street’s total contribution from the External Investment Manager is based on the performance of assets managed by the External Investment Manager (see Note D — External Investment Manager in the notes to the consolidated financial statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q), and any related cost of debt obligations related to such managed assets, which may fluctuate depending on changes in interest rates.
Although we believe that this analysis is indicative of the impact of interest rate changes to our net investment income as of June 30, 2026, the analysis does not take into consideration future changes in the credit market, credit quality or other business or economic developments that could affect our net investment income. Accordingly, we can offer no assurances that actual results would not differ materially from the analysis above. The hypothetical results assume that all SOFR and Prime rate changes would be effective on the first day of the period. However, the contractual SOFR and Prime rate reset dates would vary throughout the period. The majority of our investments, and the investments managed by our External Investment Manager, are based on contracts which reset quarterly, while our Credit Facilities, and the debt obligations related to the assets managed by our External Investment Manager, reset monthly. The hypothetical results would also be impacted by the changes in the amount of outstanding debt under our Credit Facilities (with an increase (decrease) in the debt outstanding under the Credit Facilities resulting in an (increase) decrease in the hypothetical interest expense).
Item 4. CONTROLS AND PROCEDURES
As of the end of the period covered by this Quarterly Report on Form 10-Q, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer, Chief Financial Officer, General Counsel and Chief Accounting Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15 of the Exchange Act). Based on that evaluation, our Chief Executive Officer, Chief Financial Officer, General Counsel and Chief Accounting Officer have concluded that our current disclosure controls and procedures are effective in timely alerting them of material information relating to us that is required to be disclosed in the reports we file or submit under the Exchange Act. There have been no changes in our internal control over financial reporting that occurred during the quarter ended June 30, 2026 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.


155
Table of contents                                
PART II—OTHER INFORMATION
Item 1. LEGAL PROCEEDINGS
We may, from time to time, be involved in litigation arising out of our operations in the normal course of business or otherwise. Furthermore, third parties may seek to impose liability on us in connection with the activities of our portfolio companies. While the outcome of any current legal proceedings cannot at this time be predicted with certainty, we do not expect any current matters will materially affect our financial condition or results of operations; however, there can be no assurance whether any pending or future legal proceedings will have a material adverse effect on our financial condition or results of operations in any future reporting period.
Item 1A. RISK FACTORS
You should carefully consider the risks described below and all other information contained in this Quarterly Report on Form 10-Q, including our interim consolidated financial statements and the related notes thereto, before making a decision to purchase our securities. The risks and uncertainties described below are not the only ones facing us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may have a material adverse effect on our business, financial condition and/or operating results, as well as the market price of our securities.
In addition to the other information set forth in this report, you should carefully consider the risk factors described in Item 1A. Risk Factors in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 that we filed with the SEC on February 27, 2026, which could materially affect our business, financial condition and/or operating results.
There are no material changes to the risk factors as previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.
Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the three months ended June 30, 2026, we issued 203,405 shares of our common stock under our DRIP. These issuances were not subject to the registration requirements of the Securities Act of 1933, as amended. The aggregate value of the shares of common stock issued during the three months ended June 30, 2026 under our DRIP was $10.6 million.
Upon vesting of restricted stock awarded pursuant to our employee equity compensation plan, shares may be withheld to meet applicable tax withholding requirements. Any withheld shares are treated as common stock purchases by the Company in our consolidated financial statements as they reduce the number of shares received by employees upon vesting (reflected as “Purchase of vested stock for employee payroll tax withholding” in Main Street’s Consolidated Statements of Changes in Net Assets for any share amounts withheld).
Item 5. OTHER INFORMATION
Rule 10b5-1 Trading Plans
During the fiscal quarter ended June 30, 2026, none of our directors or officers adopted or terminated any contract, instruction or written plans for the purchase or sale of our securities to satisfy the affirmative defense conditions of Exchange Act Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”


156
Table of contents                                
Item 6. EXHIBITS
Listed below are the exhibits which are filed as part of this report (according to the number assigned to them in Item 601 of Regulation S-K):
Exhibit Number
Description
10.1
31.1*
31.2*
32.1**
32.2**
101*
The following financial information from our Quarterly Report on Form 10-Q for the second quarter of fiscal year 2026, filed with the SEC on August 7, 2026, formatted in Inline Extensible Business Reporting Language (iXBRL): (i) the Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025, (ii) the Consolidated Statements of Operations for the three and six months ended June 30, 2026 and 2025, (iii) the Consolidated Statements of Changes in Net Assets for the three and six months ended June 30, 2026 and 2025, (iv) the Consolidated Statements of Cash Flows for the six months ended June 30, 2026 and 2025, (v) the Consolidated Schedule of Investments for the periods ended June 30, 2026 and December 31, 2025, (vi) the Notes to Consolidated Financial Statements and (vii) the Consolidated Schedule 12-14 for the six months ended June 30, 2026 and 2025.
104*Cover Page Interactive Data File (embedded within the Inline XBRL document)
___________________________
*    Filed herewith
**    Furnished herewith


157
Table of contents                                
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Main Street Capital Corporation
/s/ DWAYNE L. HYZAK
Date: August 7, 2026
Dwayne L. Hyzak
Chief Executive Officer
(principal executive officer)
/s/ RYAN R. NELSON
Date: August 7, 2026
Ryan R. Nelson
Chief Financial Officer
(principal financial officer)
/s/ RYAN H. MCHUGH
Date: August 7, 2026
Ryan H. McHugh
Chief Accounting Officer
(principal accounting officer)


158

What is the market capitalization of a company?

The market capitalization sometimes referred as Marketcap, is the value of a publicly listed company.
In most cases it can be easily calculated by multiplying the share price with the amount of outstanding shares.

DISCLAIMER

CompaniesMarketCap is not associated in any way with CoinMarketCap.com
Stock prices are delayed, the delay can range from a few minutes to several hours.
Company logos are from the CompaniesLogo.com logo database and belong to their respective copyright holders. Companies Marketcap displays them for editorial purposes only.

Contact

For inquiries or if you want to report a problem write to hello@8marketcap.com

Links

- Privacy policy

- Terms and conditions

© 2025 CompaniesMarketcap.com