{"url_path":"/sec/main/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-08","source_url":"https://www.sec.gov/Archives/edgar/data/1396440/0001396440-26-000073-index.html","accession_number":"0001396440-26-000073","cik":"0001396440","ticker":"MAIN","issuer_name":"Main Street Capital CORP","edgar_url":"https://www.sec.gov/Archives/edgar/data/1396440/0001396440-26-000073-index.html","primary_entity_key":"0001396440","primary_entity_name":"Main Street Capital 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| Secured Debt 42026-03-310001396440ITA Holdings Group, LLC | Secured Debt 52026-03-310001396440ITA Holdings Group, LLC | Secured Debt 62026-03-310001396440ITA Holdings Group, LLC | Secured Debt 72026-03-310001396440ITA Holdings Group, LLC | Warrants2026-03-310001396440main:ITAHoldingsGroupLLCMember2026-03-310001396440Kennedy Fab HoldCo, LLC | Secured Debt 12026-03-310001396440Kennedy Fab HoldCo, LLC | Secured Debt 22026-03-310001396440Kennedy Fab HoldCo, LLC | Secured Debt 32026-03-310001396440Kennedy Fab HoldCo, LLC | Preferred Equity2026-03-310001396440main:KennedyFabHoldCoLLCMember2026-03-310001396440KMS, LLC | Secured Debt 12026-03-310001396440KMS, LLC | Secured Debt 22026-03-310001396440KMS, LLC | Secured Debt 32026-03-310001396440KMS, LLC | Preferred Equity2026-03-310001396440main:KMSLLCMember2026-03-310001396440Mills Fleet Farm Group, LLC | Secured Debt 12026-03-310001396440Mills Fleet Farm Group, LLC | Secured Debt 22026-03-310001396440Mills Fleet Farm Group, LLC | Preferred Equity2026-03-310001396440main:MillsFleetFarmGroupLLCMember2026-03-310001396440MoneyThumb Acquisition, LLC | Secured Debt2026-03-310001396440MoneyThumb Acquisition, LLC | Preferred Member Units2026-03-310001396440MoneyThumb Acquisition, LLC | Warrants2026-03-310001396440main:MoneyThumbAcquisitionLLCMember2026-03-310001396440Nearshore AcquireCo, LLC | Secured Debt 12026-03-310001396440Nearshore AcquireCo, LLC | Secured Debt 22026-03-310001396440Nearshore AcquireCo, LLC | Secured Debt 32026-03-310001396440Nearshore AcquireCo, LLC | Preferred Equity2026-03-310001396440main:NearshoreAcquireCoLLCMember2026-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 12026-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 22026-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 32026-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 42026-03-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2026-03-310001396440OnAsset Intelligence, Inc. | Preferred 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Preferred Equity2026-03-310001396440main:RFGAcquireCoLLCMember2026-03-310001396440SI East, LLC | Secured Debt 12026-03-310001396440SI East, LLC | Secured Debt 22026-03-310001396440SI East, LLC | Preferred Member Units2026-03-310001396440main:SIEastLLCMember2026-03-310001396440Slick Innovations, LLC | Secured Debt2026-03-310001396440Slick Innovations, LLC | Common Stock2026-03-310001396440main:SlickInnovationsLLCMember2026-03-310001396440Specialized Aviation Holdings, LLC | Secured Debt2026-03-310001396440Specialized Aviation Holdings, LLC | Preferred Stock2026-03-310001396440main:SpecializedAviationHoldingsLLCMember2026-03-310001396440Student Resource Center, LLC | Secured Debt 12026-03-310001396440Student Resource Center, LLC | Secured Debt 22026-03-310001396440Student Resource Center, LLC | Preferred Equity2026-03-310001396440main:StudentResourceCenterLLCMember2026-03-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2026-03-310001396440The Affiliati Network, LLC | Preferred Stock 12026-03-310001396440The Affiliati Network, LLC | Preferred Stock 22026-03-310001396440main:TheAffiliatiNetworkLLCMember2026-03-310001396440UnionRock Energy Fund II, LP | LP Interests2026-03-310001396440UnionRock Energy Fund III, LP | LP Interests2026-03-310001396440UniTek Global Services, Inc. | Preferred Stock 12026-03-310001396440UniTek Global Services, Inc. | Preferred Stock 22026-03-310001396440UniTek Global Services, Inc. | Preferred Stock 32026-03-310001396440UniTek Global Services, Inc. | Common Stock2026-03-310001396440main:UniTekGlobalServicesIncMember2026-03-310001396440Urgent DSO LLC | Secured Debt2026-03-310001396440Urgent DSO LLC | Preferred Equity2026-03-310001396440main:UrgentDSOLLCMember2026-03-310001396440Wildcats Topco LLC | Common Equity2026-03-310001396440World Micro Holdings, LLC | Secured Debt2026-03-310001396440World Micro Holdings, LLC | Preferred Equity2026-03-310001396440main:WorldMicroHoldingsLLCMember2026-03-310001396440Adams Publishing Group, LLC | Secured Debt 12026-03-310001396440Adams Publishing Group, LLC | Secured Debt 22026-03-310001396440Adams Publishing Group, LLC | Secured Debt 32026-03-310001396440main:AdamsPublishingGroupLLCMember2026-03-310001396440AGS American Glass Services Acquisition, LLC | Secured Debt 12026-03-310001396440AGS American Glass Services Acquisition, LLC | Secured Debt 22026-03-310001396440AGS American Glass Services Acquisition, LLC | Secured Debt 32026-03-310001396440AGS American Glass Services Acquisition, LLC | Preferred Equity2026-03-310001396440main:AGSAmericanGlassServicesAcquisitionLLCMember2026-03-310001396440Airo Purchaser, Inc. | Secured Debt 12026-03-310001396440Airo Purchaser, Inc. | Secured Debt 22026-03-310001396440Airo Purchaser, Inc. | Secured Debt 32026-03-310001396440Airo Purchaser, Inc. | Common Equity2026-03-310001396440main:AiroPurchaserInc.Member2026-03-310001396440AMEREQUIP LLC | Common Stock2026-03-310001396440American Health Staffing Group, Inc. | Secured Debt 12026-03-310001396440American Health Staffing Group, Inc. | Secured Debt 22026-03-310001396440main:AmericanHealthStaffingGroupIncMember2026-03-310001396440ArborWorks, LLC | Secured Debt 12026-03-310001396440ArborWorks, LLC | Secured Debt 22026-03-310001396440ArborWorks, LLC | Preferred Equity 12026-03-310001396440ArborWorks, LLC | Preferred Equity 22026-03-310001396440ArborWorks, LLC | Common Equity2026-03-310001396440main:ArborWorksLLCMember2026-03-310001396440Archer Systems, LLC | Common Stock2026-03-310001396440ATS Operating, LLC | Secured Debt 12026-03-310001396440ATS Operating, LLC | Secured Debt 22026-03-310001396440ATS Operating, LLC | Secured Debt 32026-03-310001396440ATS Operating, LLC | Common Stock2026-03-310001396440main:ATSOperatingLLCMember2026-03-310001396440Auria Space, LLC | Secured Debt 12026-03-310001396440Auria Space, LLC | Secured Debt 22026-03-310001396440Auria Space, LLC | Secured Debt 32026-03-310001396440Auria Space, LLC | Member Units2026-03-310001396440main:AuriaSpaceLLCMember2026-03-310001396440AVEX Aviation Holdings, LLC | Secured Debt 12026-03-310001396440AVEX Aviation Holdings, LLC | Secured Debt 22026-03-310001396440AVEX Aviation Holdings, LLC | Secured Debt 32026-03-310001396440AVEX Aviation Holdings, LLC | Common Equity2026-03-310001396440main:AVEXAviationHoldingsLLCMember2026-03-310001396440Behavior Development Group Holdings | Secured Debt 12026-03-310001396440Behavior Development Group Holdings | Secured Debt 22026-03-310001396440Behavior Development Group Holdings | Common Equity2026-03-310001396440main:BehaviorDevelopmentGroupHoldingsMember2026-03-310001396440Berry Aviation, Inc. | Preferred Member Units 12026-03-310001396440Berry Aviation, Inc. | Preferred Member Units 22026-03-310001396440Berry Aviation, Inc. | Preferred Member Units 32026-03-310001396440main:BerryAviationIncMember2026-03-310001396440Bluestem Brands, Inc. | Secured Debt 12026-03-310001396440Bluestem Brands, Inc. | Secured Debt 22026-03-310001396440Bluestem Brands, Inc. | Secured Debt 32026-03-310001396440Bluestem Brands, Inc. | Common Stock2026-03-310001396440Bluestem Brands, Inc. | Warrants2026-03-310001396440main:BluestemBrandsIncMember2026-03-310001396440B-O-F Corporation | Secured Debt 12026-03-310001396440B-O-F Corporation | Secured Debt 22026-03-310001396440B-O-F Corporation | Secured Debt 32026-03-310001396440B-O-F Corporation | Common Equity2026-03-310001396440main:BOFCorporationMember2026-03-310001396440Bond Brand Loyalty ULC | Secured Debt 12026-03-310001396440Bond Brand Loyalty ULC | Secured Debt 22026-03-310001396440Bond Brand Loyalty ULC | Secured Debt 32026-03-310001396440Bond Brand Loyalty ULC | Secured Debt 42026-03-310001396440Bond Brand Loyalty ULC | Preferred Equity2026-03-310001396440Bond Brand Loyalty ULC | Common Equity2026-03-310001396440main:BondBrandLoyaltyULCMember2026-03-310001396440Brainworks Software, LLC | Secured Debt 12026-03-310001396440Brainworks Software, LLC | Secured Debt 22026-03-310001396440main:BrainworksSoftwareLLCMember2026-03-310001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund III, LP)2026-03-310001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund IV, LP)2026-03-310001396440Brightwood Capital Fund Investments | LP Interests (Brightwood Capital Fund V, LP)2026-03-310001396440main:BrightwoodCapitalFundInvestmentsMember2026-03-310001396440CaseWorthy, Inc. | Common Equity2026-03-310001396440Channel Partners Intermediateco, LLC | Secured Debt 12026-03-310001396440Channel Partners Intermediateco, LLC | Secured Debt 22026-03-310001396440Channel Partners Intermediateco, LLC | Secured Debt 32026-03-310001396440Channel Partners Intermediateco, LLC | Secured Debt 42026-03-310001396440main:ChannelPartnersIntermediatecoLLCMember2026-03-310001396440Clarius BIGS, LLC | Secured Debt2026-03-310001396440Computer Data Source, LLC | Secured Debt 12026-03-310001396440Computer Data Source, LLC | Secured Debt 22026-03-310001396440Computer Data Source, LLC | Secured Debt 32026-03-310001396440main:ComputerDataSourceLLCMember2026-03-310001396440Core Transformers | Secured Debt 12026-03-310001396440Core Transformers | Secured Debt 22026-03-310001396440Core Transformers | Secured Debt 32026-03-310001396440Core Transformers | Common Equity2026-03-310001396440main:CoreTransformersMember2026-03-310001396440Coregistics Buyer LLC | Secured Debt 12026-03-310001396440Coregistics Buyer LLC | Secured Debt 22026-03-310001396440Coregistics Buyer LLC | Secured Debt 32026-03-310001396440Coregistics Buyer LLC | Secured Debt 42026-03-310001396440main:CoregisticsBuyerLLCMember2026-03-310001396440CoreStack, Inc. | Secured Debt 12026-03-310001396440CoreStack, Inc. | Secured Debt 22026-03-310001396440main:CoreStackInc.Member2026-03-310001396440CQ Fluency, LLC | Secured Debt 12026-03-310001396440CQ Fluency, LLC | Secured Debt 22026-03-310001396440main:CQFluencyLLCMember2026-03-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 12026-03-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 22026-03-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 32026-03-310001396440CRC Evans USA Bidco, Inc. | Secured Debt 42026-03-310001396440main:CRCEvansUSABidcoInc.Member2026-03-310001396440Creative Foam Corporation | Secured Debt 12026-03-310001396440Creative Foam Corporation | Secured Debt 22026-03-310001396440Creative Foam Corporation | Secured Debt 32026-03-310001396440Creative Foam Corporation | Common Equity2026-03-310001396440main:CreativeFoamCorporationMember2026-03-310001396440Dalton US Inc. | Common Stock2026-03-310001396440Dynamic Communities, LLC | Secured Debt 12026-03-310001396440Dynamic Communities, LLC | Secured Debt 22026-03-310001396440Dynamic Communities, LLC | Preferred Equity 12026-03-310001396440Dynamic Communities, LLC | Preferred Equity 22026-03-310001396440Dynamic Communities, LLC | Common Equity2026-03-310001396440main:DynamicCommunitiesLLCMember2026-03-310001396440Electro Technical Industries, LLC | Secured Debt 12026-03-310001396440Electro Technical Industries, LLC | Secured Debt 22026-03-310001396440Electro Technical Industries, LLC | Common Equity2026-03-310001396440main:ElectroTechnicalIndustriesLLCMember2026-03-310001396440Emerald Technologies Acquisition Co, Inc. | Secured Debt2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund VIII, L.P.)2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund VIII Co-Investors, L.P.)2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund IX, L.P.)2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund X, L.P.)2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Energy Capital Fund XII, L.P.)2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Flatrock Midstream Fund II, L.P.)2026-03-310001396440EnCap Energy Fund Investments. | LP Interests (EnCap Flatrock Midstream Fund III, L.P.)2026-03-310001396440main:EnCapEnergyFundInvestmentsMember2026-03-310001396440Escalent, Inc. | Secured Debt 12026-03-310001396440Escalent, Inc. | Secured Debt 22026-03-310001396440Escalent, Inc. | Secured Debt 32026-03-310001396440Escalent, Inc. | Common Equity2026-03-310001396440main:EscalentIncMember2026-03-310001396440Event Holdco, LLC. | Secured Debt 12026-03-310001396440Event Holdco, LLC. | Secured Debt 22026-03-310001396440main:EventHoldcoLLCMember2026-03-310001396440EWMW LP | Secured Debt2026-03-310001396440Fuse, LLC. | Secured Debt 2026-03-310001396440Fuse, LLC. | Common Stock2026-03-310001396440main:FuseLLCMember2026-03-310001396440Garyline, LLC. | Secured Debt 12026-03-310001396440Garyline, LLC. | Secured Debt 22026-03-310001396440Garyline, LLC., Common Equity2026-03-310001396440main:GarylineLLCMember2026-03-310001396440GradeEight Corp. | Secured Debt 12026-03-310001396440GradeEight Corp. | Secured Debt 22026-03-310001396440GradeEight Corp. | Secured Debt 32026-03-310001396440GradeEight Corp. | Common Equity2026-03-310001396440main:GradeEightCorp.Member2026-03-310001396440GS HVAM Intermediate, LLC | Secured Debt 12026-03-310001396440GS HVAM Intermediate, LLC | Secured Debt 22026-03-310001396440GS HVAM Intermediate, LLC | Secured Debt 32026-03-310001396440GS HVAM Intermediate, LLC | Secured Debt 42026-03-310001396440GS HVAM Intermediate, LLC | Secured Debt 52026-03-310001396440main:GSHVAMIntermediateLLCMember2026-03-310001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 12026-03-310001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 22026-03-310001396440GULF PACIFIC ACQUISITION, LLC | Secured Debt 32026-03-310001396440main:GULFPACIFICACQUISITIONLLCMember2026-03-310001396440Harris Preston Fund Investments | LP Interests (423 AER II, LP)2026-03-310001396440HDC/HW Intermediate Holdings | Secured Debt 12026-03-310001396440HDC/HW Intermediate Holdings | Secured Debt 22026-03-310001396440HDC/HW Intermediate Holdings | Common Equity2026-03-310001396440main:HDCHWIntermediateHoldingsMember2026-03-310001396440Hornblower Sub, LLC | Secured Debt 12026-03-310001396440Hornblower Sub, LLC | Secured Debt 22026-03-310001396440main:HornblowerSubLLCMember2026-03-310001396440HOWLCO LLC | Secured Debt2026-03-310001396440Hybrid Promotions, LLC | Secured Debt2026-03-310001396440IG Parent Corporation | Secured Debt 12026-03-310001396440IG Parent Corporation | Secured Debt 22026-03-310001396440IG Parent Corporation | Secured Debt 32026-03-310001396440main:IGParentCorporationMember2026-03-310001396440Ignite Visibility LLC | Secured Debt 12026-03-310001396440Ignite Visibility LLC | Secured Debt 22026-03-310001396440main:IgniteVisibilityLLCMember2026-03-310001396440Imaging Business Machines, L.L.C. | Common Equity2026-03-310001396440Implus Footcare, LLC | Secured Debt 12026-03-310001396440Implus Footcare, LLC | Secured Debt 22026-03-310001396440Implus Footcare, LLC | Common Equity2026-03-310001396440main:ImplusFootcareLLCMember2026-03-310001396440Insight Borrower Corporation | Secured Debt 12026-03-310001396440Insight Borrower Corporation | Secured Debt 22026-03-310001396440Insight Borrower Corporation | Common Equity2026-03-310001396440main:InsightBorrowerCorporationMember2026-03-310001396440Inspire Aesthetics Management, LLC | Secured Debt 12026-03-310001396440Inspire Aesthetics Management, LLC | Secured Debt 22026-03-310001396440Inspire Aesthetics Management, LLC | Secured Debt 32026-03-310001396440Inspire Aesthetics Management, LLC | Secured Debt 42026-03-310001396440Inspire Aesthetics Management, LLC | Common Equity2026-03-310001396440main:InspireAestheticsManagementLLCMember2026-03-310001396440Interface Security Systems, L.L.C | Secured Debt 12026-03-310001396440Interface Security Systems, L.L.C | Secured Debt 22026-03-310001396440Interface Security Systems, L.L.C | Common Stock2026-03-310001396440main:InterfaceSecuritySystemsLLCMember2026-03-310001396440Invincible Boat Company, LLC. | Secured Debt 12026-03-310001396440Invincible Boat Company, LLC. | Secured Debt 22026-03-310001396440main:InvincibleBoatCompanyLLCMember2026-03-310001396440Isagenix International, LLC | Secured Debt2026-03-310001396440Isagenix International, LLC | Common Equity2026-03-310001396440main:IsagenixInternationalLLCMember2026-03-310001396440Island Pump and Tank, LLC | Secured Debt 12026-03-310001396440Island Pump and Tank, LLC | Secured Debt 22026-03-310001396440Island Pump and Tank, LLC | Secured Debt 32026-03-310001396440Island Pump and Tank, LLC | Secured Debt 42026-03-310001396440main:IslandPumpAndTankLLCMember2026-03-310001396440Jackmont Hospitality, Inc. | Secured Debt 12026-03-310001396440Jackmont Hospitality, Inc. | Secured Debt 22026-03-310001396440Jackmont Hospitality, Inc. | Secured Debt 32026-03-310001396440Jackmont Hospitality, Inc. | Secured Debt 42026-03-310001396440Jackmont Hospitality, Inc. | Preferred Equity2026-03-310001396440main:JackmontHospitalityIncMember2026-03-310001396440Joerns Healthcare, LLC | Secured Debt 12026-03-310001396440Joerns Healthcare, LLC | Secured Debt 22026-03-310001396440Joerns Healthcare, LLC | Common Stock2026-03-310001396440main:JoernsHealthcareLLCMember2026-03-310001396440LKCM Headwater Investments | LP Interests (LKCM Headwater Investments I, L.P.)2026-03-310001396440LKCM Headwater Investments | Common Equity (LKCM Headwater CV I Minerals, L.P.)2026-03-310001396440main:LKCMHeadwaterInvestmentsMember2026-03-310001396440LLFlex, LLC | Secured Debt2026-03-310001396440Logix Acquisition Company, LLC | Secured Debt 12026-03-310001396440Logix Acquisition Company, LLC | Secured Debt 22026-03-310001396440main:LogixAcquisitionCompanyLLCMember2026-03-310001396440Looking Glass Investments, LLC | Member Units2026-03-310001396440MCT Purchaserco Holding Inc. | Secured Debt 12026-03-310001396440MCT Purchaserco Holding Inc. | Secured Debt 22026-03-310001396440MCT Purchaserco Holding Inc. | Common Equity2026-03-310001396440main:MCTPurchasercoHoldingInc.Member2026-03-310001396440Microbe Formulas, LLC | Secured Debt 12026-03-310001396440Microbe Formulas, LLC | Secured Debt 22026-03-310001396440Microbe Formulas, LLC | Secured Debt 32026-03-310001396440main:MicrobeFormulasLLCMember2026-03-310001396440Mini Melts of America, LLC | Secured Debt 12026-03-310001396440Mini Melts of America, LLC | Secured Debt 22026-03-310001396440Mini Melts of America, LLC | Secured Debt 32026-03-310001396440Mini Melts of America, LLC | Secured Debt 42026-03-310001396440Mini Melts of America, LLC | Common Equity2026-03-310001396440main:MiniMeltsOfAmericaLLCMember2026-03-310001396440Mission Critical Group | Secured Debt 12026-03-310001396440Mission Critical Group | Secured Debt 22026-03-310001396440Mission Critical Group | Secured Debt 32026-03-310001396440Mission Critical Group | Common 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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 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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 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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 | 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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, 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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, 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Holding LLC | Secured Debt 12026-01-012026-03-310001396440Chamberlin Holding LLC | Secured Debt 22026-01-012026-03-310001396440Chamberlin Holding LLC | Member Units 12026-01-012026-03-310001396440Chamberlin Holding LLC | Member Units 22026-01-012026-03-310001396440Charps, LLC | Unsecured Debt2026-01-012026-03-310001396440Charps, LLC | Preferred Member Units2026-01-012026-03-310001396440Colonial Electric Company LLC | Secured Debt 12026-01-012026-03-310001396440Colonial Electric Company LLC | Secured Debt 22026-01-012026-03-310001396440Colonial Electric Company LLC | Preferred Member Units2026-01-012026-03-310001396440Copper Trail Fund Investments | LP Interests (CTMH, LP)2026-01-012026-03-310001396440Digital Products Holdings LLC | Secured Debt2026-01-012026-03-310001396440Digital Products Holdings LLC | Preferred Member Units2026-01-012026-03-310001396440Doral Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440Doral Holdings, LLC | Secured Debt2026-03-310001396440Doral Holdings, LLC | Secured Debt2026-01-012026-03-310001396440Doral Holdings, LLC | Secured Debt2025-12-310001396440Elgin AcquireCo, LLC | Secured Debt 12026-01-012026-03-310001396440Elgin AcquireCo, LLC | Secured Debt 22026-01-012026-03-310001396440Elgin AcquireCo, LLC | Secured Debt 32026-01-012026-03-310001396440Elgin AcquireCo, LLC | Common Stock 12026-01-012026-03-310001396440Elgin AcquireCo, LLC | Common Stock 22026-01-012026-03-310001396440Flame King Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440Flame King Holdings, LLC | Secured Debt2026-01-012026-03-310001396440Flame King Holdings, LLC | Secured Debt2025-12-310001396440Harris Preston Fund Investments | LP Interests (2717 MH, L.P.)2026-01-012026-03-310001396440Harris Preston Fund Investments | LP Interests (2717 HPP-MS, L.P.)2026-01-012026-03-310001396440Harris Preston Fund Investments | LP Interests (2717 GRE-LP, L.P.)2026-01-012026-03-310001396440Harris Preston Fund Investments | LP Interests (423 COR, L.P.)2026-01-012026-03-310001396440Harrison Hydra-Gen, Ltd. | Common Stock2026-01-012026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.12026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.12026-01-012026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.12025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.22026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.22026-01-012026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.22025-12-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.32026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.32026-01-012026-03-310001396440JTI Electrical & Mechanical, LLC | Secured Debt 1.32025-12-310001396440JTI Electrical & Mechanical, LLC | Common Equity2026-01-012026-03-310001396440JTI Electrical & Mechanical, LLC | Common Equity2025-12-310001396440JTI Electrical & Mechanical, LLC | Common Equity2026-03-310001396440JorVet Holdings, LLC | Secured Debt2026-01-012026-03-310001396440JorVet Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440KBK Industries, LLC | Member Units2026-01-012026-03-310001396440KBK Industries, LLC | Member Units2026-03-310001396440KBK Industries, LLC | Secured Debt 12026-01-012026-03-310001396440KBK Industries, LLC | Secured Debt 12025-12-310001396440KBK Industries, LLC | Secured Debt 12026-03-310001396440KBK Industries, LLC | Secured Debt 22026-01-012026-03-310001396440KBK Industries, LLC | Secured Debt 22025-12-310001396440KBK Industries, LLC | Secured Debt 22026-03-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 12026-01-012026-03-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22026-01-012026-03-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2026-01-012026-03-310001396440Kickhaefer Manufacturing Company, LLC | Member Units2026-01-012026-03-310001396440Legacy Swim Group | Secured Debt2026-01-012026-03-310001396440Legacy Swim Group | Preferred Equity2026-01-012026-03-310001396440Metalforming Holdings, LLC | Secured Debt 12026-01-012026-03-310001396440Metalforming Holdings, LLC | Secured Debt 22026-01-012026-03-310001396440Metalforming Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440Metalforming Holdings, LLC | Common Stock2026-01-012026-03-310001396440Moffitt Holdings, LLC | Secured Debt2026-01-012026-03-310001396440Moffitt Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440MS Private Loan Fund I, LP | Secured Debt2026-01-012026-03-310001396440MS Private Loan Fund I, LP | LP Interests2026-01-012026-03-310001396440MS Private Loan Fund II, LP | Secured Debt2026-01-012026-03-310001396440MS Private Loan Fund II, LP | LP Interests2026-01-012026-03-310001396440MSC Income Fund, Inc. | Common Equity2026-01-012026-03-310001396440MSC Income Fund, Inc. | Secured Debt2026-01-012026-03-310001396440MSC Income Fund, Inc. | Secured Debt2025-12-310001396440MVI MSO, LLC | Secured Debt2026-01-012026-03-310001396440MVI MSO, LLC | Preferred Equity2026-01-012026-03-310001396440NAPCO Precast, LLC | Member Units 12026-01-012026-03-310001396440NAPCO Precast, LLC | Member Units 22026-01-012026-03-310001396440Nello Industries Investco, LLC | Secured Debt 12026-01-012026-03-310001396440Nello Industries Investco, LLC | Secured Debt 12025-12-310001396440Nello Industries Investco, LLC | Secured Debt 12026-03-310001396440Nello Industries Investco, LLC | Secured Debt 22026-03-310001396440Nello Industries Investco, LLC | Secured Debt 22026-01-012026-03-310001396440Nello Industries Investco, LLC | Secured Debt 22025-12-310001396440Nello Industries Investco, LLC | Preferred Equity2026-01-012026-03-310001396440NexRev LLC | Preferred Member Units2026-01-012026-03-310001396440NexRev LLC | Preferred Member Units2025-12-310001396440NuStep, LLC | Secured Debt 1.12026-03-310001396440NuStep, LLC | Secured Debt 1.12026-01-012026-03-310001396440NuStep, LLC | Secured Debt 1.12025-12-310001396440NuStep, LLC | Secured Debt 1.22026-03-310001396440NuStep, LLC | Secured Debt 1.22026-01-012026-03-310001396440NuStep, LLC | Secured Debt 1.22025-12-310001396440NuStep, LLC | Preferred Member Units 1.12026-01-012026-03-310001396440NuStep, LLC | Preferred Member Units 1.12025-12-310001396440NuStep, LLC | Preferred Member Units 1.12026-03-310001396440NuStep, LLC | Preferred Member Units 1.22026-01-012026-03-310001396440NuStep, LLC | Preferred Member Units 1.22025-12-310001396440NuStep, LLC | Preferred Member Units 1.22026-03-310001396440Orttech Holdings, LLC | Secured Debt 12026-01-012026-03-310001396440Orttech Holdings, LLC | Secured Debt 22026-01-012026-03-310001396440Orttech Holdings, LLC | Preferred Stock2026-01-012026-03-310001396440Pinnacle TopCo, LLC | Secured Debt 12026-01-012026-03-310001396440Pinnacle TopCo, LLC | Secured Debt 22026-01-012026-03-310001396440Pinnacle TopCo, LLC | Preferred Equity2026-01-012026-03-310001396440PPL RVs, Inc. | Secured Debt 12026-01-012026-03-310001396440PPL RVs, Inc. | Secured Debt 22026-01-012026-03-310001396440PPL RVs, Inc. | Common Stock 12026-01-012026-03-310001396440PPL RVs, Inc. | Common Stock 22026-01-012026-03-310001396440River Aggregates, LLC | Member Units2026-01-012026-03-310001396440Spring Engineering Holdings, LLC | Secured Debt2026-01-012026-03-310001396440Spring Engineering Holdings, LLC | Secured Debt2025-12-310001396440Spring Engineering Holdings, LLC | Preferred Member Units2026-01-012026-03-310001396440Spring Engineering Holdings, LLC | Preferred Member Units2025-12-310001396440Tedder Industries, LLC | Secured Debt 12026-01-012026-03-310001396440Tedder Industries, LLC | Secured Debt 22026-01-012026-03-310001396440Tedder Industries, LLC | Preferred Member Units 12026-01-012026-03-310001396440Tedder Industries, LLC | Preferred Member Units 22026-01-012026-03-310001396440Tedder Industries, LLC | Preferred Member Units 32026-01-012026-03-310001396440Televerde, LLC | Member Units2026-01-012026-03-310001396440Televerde, LLC | Preferred Stock2026-01-012026-03-310001396440Trinity Medical Holdings, LLC | Secured Debt2026-03-310001396440Trinity Medical Holdings, LLC | Secured Debt2026-01-012026-03-310001396440Trinity Medical Holdings, LLC | Secured Debt2025-12-310001396440Trinity Medical Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440VVS Holdco LLC | Secured Debt 12026-01-012026-03-310001396440VVS Holdco LLC | Secured Debt 22026-01-012026-03-310001396440VVS Holdco LLC | Preferred Equity2026-01-012026-03-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period | Preferred Equity 12026-01-012026-03-310001396440Amounts 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 12026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.12026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.12026-01-012026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.12025-12-310001396440AAC Holdings, Inc. | Preferred Equity2026-01-012026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.22026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.22026-01-012026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.22025-12-310001396440AAC Holdings, Inc. | Secured Debt 1.32026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.32026-01-012026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.32025-12-310001396440AAC Holdings, Inc. | Common Stock2026-01-012026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.42026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.42026-01-012026-03-310001396440AAC Holdings, Inc. | Secured Debt 1.42025-12-310001396440BLI Acquisition, LLC | Secured Debt2026-01-012026-03-310001396440BLI Acquisition, LLC | Secured Debt2025-12-310001396440BLI Acquisition, LLC | Member Units2026-01-012026-03-310001396440BLI Acquisition, LLC | Member Units2025-12-310001396440Boccella Precast Products LLC | Secured Debt2026-01-012026-03-310001396440Boccella Precast Products LLC | Member Units2026-01-012026-03-310001396440Buca C, LLC | Secured Debt 12026-01-012026-03-310001396440Buca C, LLC | Preferred Member Units2026-01-012026-03-310001396440Buca C, LLC | Secured Debt 22026-01-012026-03-310001396440Career Team Holdings, LLC | Secured Debt 12026-01-012026-03-310001396440Career Team Holdings, LLC | Secured Debt 22026-01-012026-03-310001396440Career Team Holdings, LLC | Common Stock2026-01-012026-03-310001396440CGMS Parent LLC | Secured Debt 1.12026-03-310001396440CGMS Parent LLC | Secured Debt 1.12026-01-012026-03-310001396440CGMS Parent LLC | Secured Debt 1.12025-12-310001396440CGMS Parent LLC | Secured Debt 1.22026-01-012026-03-310001396440CGMS Parent LLC | Secured Debt 1.22025-12-310001396440CGMS Parent LLC | Secured Debt 1.22026-03-310001396440CGMS Parent LLC | Preferred Equity2026-01-012026-03-310001396440Classic H&G Holdings, LLC | Preferred Member Units2026-01-012026-03-310001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2026-01-012026-03-310001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2026-01-012026-03-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2026-01-012026-03-310001396440DMA Industries, LLC | Secured Debt 1.12026-03-310001396440DMA Industries, LLC | Secured Debt 1.12026-01-012026-03-310001396440DMA Industries, LLC | Secured Debt 1.12025-12-310001396440DMA Industries, LLC | Preferred Equity 1.12026-01-012026-03-310001396440DMA Industries, LLC | Preferred Equity 1.12025-12-310001396440DMA Industries, LLC | Preferred Equity 1.12026-03-310001396440DMA Industries, LLC | Secured Debt 1.22026-03-310001396440DMA Industries, LLC | Secured Debt 1.22026-01-012026-03-310001396440DMA Industries, LLC | Secured Debt 1.22025-12-310001396440DMA Industries, LLC | Preferred Equity 1.22026-03-310001396440DMA Industries, LLC | Preferred Equity 1.22026-01-012026-03-310001396440DMA Industries, LLC | Preferred Equity 1.22025-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2026-01-012026-03-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2026-01-012026-03-310001396440Dos Rios Stone Products LLC | Class A Preferred Units2026-01-012026-03-310001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2026-01-012026-03-310001396440FCC Intermediate Holdco, LLC | Secured Debt2026-03-310001396440FCC Intermediate Holdco, LLC | Secured Debt2026-01-012026-03-310001396440FCC Intermediate Holdco, LLC | Secured Debt2025-12-310001396440FCC Intermediate Holdco, LLC | Warrants2026-01-012026-03-310001396440Freeport Financial Funds | LP Interests (Freeport Financial SBIC Fund LP)2026-01-012026-03-310001396440Freeport Financial Funds | LP Interests (Freeport First Lien Loan Fund III LP)2026-01-012026-03-310001396440FRG AcquireCo, LLC | Secured Debt 12026-01-012026-03-310001396440FRG AcquireCo, LLC | Secured Debt 22026-01-012026-03-310001396440FRG AcquireCo, LLC | Preferred Equity2026-01-012026-03-310001396440GFG Group, LLC | Secured Debt2026-01-012026-03-310001396440GFG Group, LLC | Preferred Member Units2026-01-012026-03-310001396440Gulf Manufacturing, LLC | Secured Debt 12026-01-012026-03-310001396440Gulf Manufacturing, LLC | Secured Debt 22026-01-012026-03-310001396440Gulf Manufacturing, LLC | Member Units2026-01-012026-03-310001396440Gulf Manufacturing, LLC | Common Stock2026-01-012026-03-310001396440Gulf Manufacturing, LLC | Preferred Equity2026-01-012026-03-310001396440Harris Preston Fund Investments | LP Interests (423 HAR, L.P.)2026-01-012026-03-310001396440Harris Preston Fund Investments | LP Interests (HPEP 3, L.P.)2026-01-012026-03-310001396440Harris Preston Fund Investments | LP Interests (HPEP 4, L.P.)2026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.12026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.12025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.12026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.22026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.22026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.22025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.32026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.32025-12-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.32026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.42026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.42026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Secured Debt 1.42025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.12026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.12025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.12026-03-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.22026-01-012026-03-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.22025-12-310001396440Hawk Ridge Systems, LLC | Preferred Member Units 1.22026-03-310001396440Houston Plating and Coatings, LLC | Unsecured Convertible Debt2026-01-012026-03-310001396440Houston Plating and Coatings, LLC | Member Units2026-01-012026-03-310001396440Independent Pet Partners Intermediate Holdings, LLC | Common Equity2026-01-012026-03-310001396440Infinity X1 Holdings, LLC | Preferred Equity2026-01-012026-03-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.12026-03-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.12026-01-012026-03-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.12025-12-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.22026-01-012026-03-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.22025-12-310001396440Infinity X1 Holdings, LLC | Secured Debt 1.22026-03-310001396440Integral Energy Services | Secured Debt2026-01-012026-03-310001396440Integral Energy Services | Preferred Equity 12026-01-012026-03-310001396440Integral Energy Services | Common Stock2026-01-012026-03-310001396440Integral Energy Services | Preferred Equity 22026-01-012026-03-310001396440Iron-Main Investments, LLC | Secured Debt 12026-01-012026-03-310001396440Iron-Main Investments, LLC | Secured Debt 22026-01-012026-03-310001396440Iron-Main Investments, LLC | Secured Debt 32026-01-012026-03-310001396440Iron-Main Investments, LLC | Secured Debt 42026-01-012026-03-310001396440Iron-Main Investments, LLC | Secured Debt 52026-01-012026-03-310001396440Iron-Main Investments, LLC | Common Stock2026-01-012026-03-310001396440Iron-Main Investments, LLC | Preferred Equity 12026-01-012026-03-310001396440Iron-Main Investments, LLC | Preferred Equity 22026-01-012026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.12026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.12026-01-012026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.12025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.22026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.22026-01-012026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.22025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.32026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.32026-01-012026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.32025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.42026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.42026-01-012026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.42025-12-310001396440ITA Holdings Group, LLC | Secured Debt 1.52026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.52026-01-012026-03-310001396440ITA Holdings Group, LLC | Secured Debt 1.52025-12-310001396440ITA Holdings Group, LLC 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22025-01-012025-03-310001396440Kickhaefer Manufacturing Company, LLC | Secured Debt 22024-12-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2025-01-012025-03-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2024-12-310001396440Kickhaefer Manufacturing Company, LLC | Preferred Equity2025-03-310001396440Kickhaefer Manufacturing Company, LLC | Member Units2025-01-012025-03-310001396440Kickhaefer Manufacturing Company, LLC | Member Units2024-12-310001396440Kickhaefer Manufacturing Company, LLC | Member Units2025-03-310001396440Metalforming Holdings, LLC | Secured Debt 12025-01-012025-03-310001396440Metalforming Holdings, LLC | Secured Debt 12024-12-310001396440Metalforming Holdings, LLC | Secured Debt 12025-03-310001396440Metalforming Holdings, LLC | Secured Debt 22025-03-310001396440Metalforming Holdings, LLC | Secured Debt 22025-01-012025-03-310001396440Metalforming Holdings, LLC | Secured Debt 22024-12-310001396440Metalforming Holdings, LLC | 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Stock2025-03-310001396440AAC Holdings, Inc. | Warrants2025-01-012025-03-310001396440AAC Holdings, Inc. | Warrants2024-12-310001396440AAC Holdings, Inc. | Warrants2025-03-310001396440Boccella Precast Products LLC | Secured Debt2025-03-310001396440Boccella Precast Products LLC | Secured Debt2025-01-012025-03-310001396440Boccella Precast Products LLC | Secured Debt2024-12-310001396440Boccella Precast Products LLC | Member Units2025-01-012025-03-310001396440Boccella Precast Products LLC | Member Units2024-12-310001396440Boccella Precast Products LLC | Member Units2025-03-310001396440Buca C, LLC | Secured Debt 12025-03-310001396440Buca C, LLC | Secured Debt 12025-01-012025-03-310001396440Buca C, LLC | Secured Debt 12024-12-310001396440Buca C, LLC | Preferred Member Units2025-03-310001396440Buca C, LLC | Preferred Member Units2025-01-012025-03-310001396440Buca C, LLC | Preferred Member Units2024-12-310001396440Buca C, LLC | Secured Debt 22025-03-310001396440Buca C, LLC | Secured Debt 22025-01-012025-03-310001396440Buca C, LLC | Secured Debt 22024-12-310001396440Buca C, LLC | Secured Debt 32025-03-310001396440Buca C, LLC | Secured Debt 32025-01-012025-03-310001396440Buca C, LLC | Secured Debt 32024-12-310001396440Career Team Holdings, LLC | Secured Debt 12025-03-310001396440Career Team Holdings, LLC | Secured Debt 12025-01-012025-03-310001396440Career Team Holdings, LLC | Secured Debt 12024-12-310001396440Career Team Holdings, LLC | Secured Debt 22025-03-310001396440Career Team Holdings, LLC | Secured Debt 22025-01-012025-03-310001396440Career Team Holdings, LLC | Secured Debt 22024-12-310001396440Career Team Holdings, LLC | Common Stock2025-01-012025-03-310001396440Career Team Holdings, LLC | Common Stock2024-12-310001396440Career Team Holdings, LLC | Common Stock2025-03-310001396440Classic H&G Holdings, LLC | Preferred Member Units2025-01-012025-03-310001396440Classic H&G Holdings, LLC | Preferred Member Units2024-12-310001396440Classic H&G Holdings, LLC | Preferred Member Units2025-03-310001396440Congruent Credit Opportunities Funds | LP Interests (Congruent Credit Opportunities Fund III, LP)2025-01-012025-03-310001396440Congruent 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)2025-03-310001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2025-03-310001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2025-01-012025-03-310001396440Connect Telecommunications Solutions Holdings, Inc. | Secured Debt2024-12-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2025-01-012025-03-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2024-12-310001396440Connect Telecommunications Solutions Holdings, Inc. | Preferred Equity2025-03-310001396440DMA Industries, LLC | Secured Debt 12025-03-310001396440DMA Industries, LLC | Secured Debt 12025-01-012025-03-310001396440DMA Industries, LLC | Secured Debt 12024-12-310001396440DMA Industries, LLC | Preferred Equity 12025-01-012025-03-310001396440DMA Industries, LLC | Preferred Equity 12024-12-310001396440DMA Industries, LLC | Preferred Equity 12025-03-310001396440DMA Industries, LLC | Secured Debt 22025-03-310001396440DMA Industries, LLC | Secured Debt 22025-01-012025-03-310001396440DMA Industries, LLC | Secured Debt 22024-12-310001396440DMA Industries, LLC | Preferred Equity 22025-03-310001396440DMA Industries, LLC | Preferred Equity 22025-01-012025-03-310001396440DMA Industries, LLC | Preferred Equity 22024-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2025-01-012025-03-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2024-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners, LP)2025-03-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2025-01-012025-03-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2024-12-310001396440Dos Rios Partners | LP Interests (Dos Rios Partners - A, LP)2025-03-310001396440Dos Rios Stone Products LLC | Class A Preferred Units2025-01-012025-03-310001396440Dos Rios Stone Products LLC | Class A Preferred Units2024-12-310001396440Dos Rios Stone Products LLC | Class A Preferred Units2025-03-310001396440EIG Fund Investments | LP Interests (EIG Global Private Debt Fund-A, L.P.)2025-01-012025-03-310001396440EIG 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.)2025-03-310001396440FCC Intermediate Holdco, LLC | Secured Debt2025-03-310001396440FCC Intermediate Holdco, LLC | Secured Debt2025-01-012025-03-310001396440FCC Intermediate Holdco, LLC | Secured Debt2024-12-310001396440FCC Intermediate Holdco, LLC | Warrants2025-01-012025-03-310001396440FCC Intermediate 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Equity2025-03-310001396440Infinity X1 Holdings, LLC | Secured Debt2025-03-310001396440Infinity X1 Holdings, LLC | Secured Debt2025-01-012025-03-310001396440Infinity X1 Holdings, LLC | Secured Debt2024-12-310001396440Infinity X1 Holdings, LLC | Preferred Equity2025-01-012025-03-310001396440Infinity X1 Holdings, LLC | Preferred Equity2024-12-310001396440Infinity X1 Holdings, LLC | Preferred Equity2025-03-310001396440Integral Energy Services | Secured Debt2025-03-310001396440Integral Energy Services | Secured Debt2025-01-012025-03-310001396440Integral Energy Services | Secured Debt2024-12-310001396440Integral Energy Services | Preferred Equity2025-03-310001396440Integral Energy Services | Preferred Equity2025-01-012025-03-310001396440Integral Energy Services | Preferred Equity2024-12-310001396440Integral Energy Services | Common Stock2025-01-012025-03-310001396440Integral Energy Services | Common Stock2024-12-310001396440Integral Energy Services | Common Stock2025-03-310001396440Iron-Main Investments, LLC | Secured Debt 12025-03-310001396440Iron-Main Investments, LLC | Secured Debt 12025-01-012025-03-310001396440Iron-Main Investments, LLC | Secured Debt 12024-12-310001396440Iron-Main Investments, LLC | Secured Debt 22025-03-310001396440Iron-Main Investments, LLC | Secured Debt 22025-01-012025-03-310001396440Iron-Main Investments, LLC | Secured Debt 22024-12-310001396440Iron-Main Investments, LLC | Secured Debt 32025-03-310001396440Iron-Main Investments, LLC | Secured Debt 32025-01-012025-03-310001396440Iron-Main Investments, LLC | Secured Debt 32024-12-310001396440Iron-Main Investments, LLC | Secured Debt 42025-03-310001396440Iron-Main Investments, LLC | Secured Debt 42025-01-012025-03-310001396440Iron-Main Investments, LLC | Secured Debt 42024-12-310001396440Iron-Main Investments, LLC | Secured Debt 52025-03-310001396440Iron-Main Investments, LLC | Secured Debt 52025-01-012025-03-310001396440Iron-Main Investments, LLC | Secured Debt 52024-12-310001396440Iron-Main Investments, LLC | Common Stock2025-01-012025-03-310001396440Iron-Main Investments, LLC | Common Stock2024-12-310001396440Iron-Main Investments, LLC | Common Stock2025-03-310001396440Iron-Main Investments, LLC | Preferred Equity2025-03-310001396440Iron-Main Investments, LLC | Preferred Equity2025-01-012025-03-310001396440Iron-Main Investments, LLC | Preferred Equity2024-12-310001396440ITA Holdings Group, LLC | Secured Debt 12025-03-310001396440ITA Holdings Group, LLC | Secured Debt 12025-01-012025-03-310001396440ITA Holdings Group, LLC | Secured Debt 12024-12-310001396440ITA Holdings Group, LLC | Secured Debt 22025-03-310001396440ITA Holdings Group, LLC | Secured Debt 22025-01-012025-03-310001396440ITA Holdings Group, LLC | Secured Debt 22024-12-310001396440ITA Holdings Group, LLC | Secured Debt 32025-03-310001396440ITA Holdings Group, LLC | Secured Debt 32025-01-012025-03-310001396440ITA Holdings Group, LLC | Secured Debt 32024-12-310001396440ITA Holdings Group, LLC | Secured Debt 42025-03-310001396440ITA Holdings Group, LLC | Secured Debt 42025-01-012025-03-310001396440ITA Holdings Group, LLC | Secured Debt 42024-12-310001396440ITA Holdings Group, LLC | Warrants2025-01-012025-03-310001396440ITA Holdings Group, LLC | Warrants2024-12-310001396440ITA Holdings Group, LLC | Warrants2025-03-310001396440Johnson Downie Opco, LLC | Secured Debt 12025-01-012025-03-310001396440Johnson Downie Opco, LLC | Secured Debt 12024-12-310001396440Johnson Downie Opco, LLC | Secured Debt 12025-03-310001396440Johnson Downie Opco, LLC | Secured Debt 22025-03-310001396440Johnson Downie Opco, LLC | Secured Debt 22025-01-012025-03-310001396440Johnson Downie Opco, LLC | Secured Debt 22024-12-310001396440Johnson Downie Opco, LLC | Preferred Equity2025-01-012025-03-310001396440Johnson Downie Opco, LLC | Preferred Equity2024-12-310001396440Johnson Downie Opco, LLC | Preferred Equity2025-03-310001396440KMS, LLC | Secured Debt 12025-03-310001396440KMS, LLC | Secured Debt 12025-01-012025-03-310001396440KMS, LLC | Secured Debt 12024-12-310001396440KMS, LLC | Secured Debt 22025-03-310001396440KMS, LLC | Secured Debt 22025-01-012025-03-310001396440KMS, LLC | Secured Debt 22024-12-310001396440KMS, LLC | Secured Debt 32025-03-310001396440KMS, LLC | Secured Debt 32025-01-012025-03-310001396440KMS, LLC | Secured Debt 32024-12-310001396440KMS, LLC | Secured Debt 42025-03-310001396440KMS, LLC | Secured Debt 42025-01-012025-03-310001396440KMS, LLC | Secured Debt 42024-12-310001396440KMS, LLC | Secured Debt 52025-03-310001396440KMS, LLC | Secured Debt 52025-01-012025-03-310001396440KMS, LLC | Secured Debt 52024-12-310001396440KMS, LLC | Secured Debt 62025-03-310001396440KMS, LLC | Secured Debt 62025-01-012025-03-310001396440KMS, LLC | Secured Debt 62024-12-310001396440KMS, LLC | Secured Debt 72025-03-310001396440KMS, LLC | Secured Debt 72025-01-012025-03-310001396440KMS, LLC | Secured Debt 72024-12-310001396440KMS, LLC | Preferred Equity2025-01-012025-03-310001396440KMS, LLC | Preferred Equity2024-12-310001396440KMS, LLC | Preferred Equity2025-03-310001396440Mills Fleet Farm Group, LLC | Secured Debt2025-03-310001396440Mills Fleet Farm Group, LLC | Secured Debt2025-01-012025-03-310001396440Mills Fleet Farm Group, LLC | Secured Debt2024-12-310001396440Mills Fleet Farm Group, LLC | Common Equity2025-01-012025-03-310001396440Mills Fleet Farm Group, LLC | Common Equity2024-12-310001396440Mills Fleet Farm Group, LLC | Common Equity2025-03-310001396440MoneyThumb Acquisition, LLC | Secured Debt2025-03-310001396440MoneyThumb Acquisition, LLC | Secured Debt2025-01-012025-03-310001396440MoneyThumb Acquisition, LLC | Secured Debt2024-12-310001396440MoneyThumb Acquisition, LLC | Preferred Member Units2025-03-310001396440MoneyThumb Acquisition, LLC | Preferred Member Units2025-01-012025-03-310001396440MoneyThumb Acquisition, LLC | Preferred Member Units2024-12-310001396440MoneyThumb Acquisition, LLC | Warrants2025-01-012025-03-310001396440MoneyThumb Acquisition, LLC | Warrants2024-12-310001396440MoneyThumb Acquisition, LLC | Warrants2025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 12025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 12025-01-012025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 12024-12-310001396440Nebraska Vet AcquireCo, LLC | Preferred Member Units2025-01-012025-03-310001396440Nebraska Vet AcquireCo, LLC | Preferred Member Units2024-12-310001396440Nebraska Vet AcquireCo, LLC | Preferred Member Units2025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 22025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 22025-01-012025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 22024-12-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 32025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 32025-01-012025-03-310001396440Nebraska Vet AcquireCo, LLC | Secured Debt 32024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 12025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 12025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 12024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 22025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 22025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 22024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 32025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 32025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 32024-12-310001396440OnAsset Intelligence, Inc. | Secured Debt 42025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 42025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Secured Debt 42024-12-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2025-03-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Unsecured Debt2024-12-310001396440OnAsset Intelligence, Inc. | Preferred Stock2025-03-310001396440OnAsset Intelligence, Inc. | Preferred Stock2025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Preferred Stock2024-12-310001396440OnAsset Intelligence, Inc. | Common Stock2025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Common Stock2024-12-310001396440OnAsset Intelligence, Inc. | Common Stock2025-03-310001396440OnAsset Intelligence, Inc. | Warrants2025-01-012025-03-310001396440OnAsset Intelligence, Inc. | Warrants2024-12-310001396440OnAsset Intelligence, Inc. | Warrants2025-03-310001396440Oneliance, LLC | Preferred Stock2025-01-012025-03-310001396440Oneliance, LLC | Preferred Stock2024-12-310001396440Oneliance, LLC | Preferred Stock2025-03-310001396440RA Outdoors LLC | Secured Debt 12025-03-310001396440RA Outdoors LLC | Secured Debt 12025-01-012025-03-310001396440RA Outdoors LLC | Secured Debt 12024-12-310001396440RA Outdoors LLC | Secured Debt 22025-03-310001396440RA Outdoors LLC | Secured Debt 22025-01-012025-03-310001396440RA Outdoors LLC | Secured Debt 22024-12-310001396440RA Outdoors LLC | Common Equity2025-01-012025-03-310001396440RA Outdoors LLC | Common Equity2024-12-310001396440RA Outdoors LLC | Common Equity2025-03-310001396440SI East, LLC | Secured Debt 12025-03-310001396440SI East, LLC | Secured Debt 12025-01-012025-03-310001396440SI East, LLC | Secured Debt 12024-12-310001396440SI East, LLC | Secured Debt 22025-03-310001396440SI East, LLC | Secured Debt 22025-01-012025-03-310001396440SI East, LLC | Secured Debt 22024-12-310001396440SI East, LLC | Preferred Member Units2025-01-012025-03-310001396440SI East, LLC | Preferred Member Units2024-12-310001396440SI East, LLC | Preferred Member Units2025-03-310001396440Slick Innovations, LLC | Secured Debt 12025-01-012025-03-310001396440Slick Innovations, LLC | Secured Debt 12024-12-310001396440Slick Innovations, LLC | Secured Debt 12025-03-310001396440Slick Innovations, LLC | Secured Debt 22025-03-310001396440Slick Innovations, LLC | Secured Debt 22025-01-012025-03-310001396440Slick Innovations, LLC | Secured Debt 22024-12-310001396440Slick Innovations, LLC | Common Stock2025-01-012025-03-310001396440Slick Innovations, LLC | Common Stock2024-12-310001396440Slick Innovations, LLC | Common Stock2025-03-310001396440Student Resource Center, LLC | Secured Debt 12025-03-310001396440Student Resource Center, LLC | Secured Debt 12025-01-012025-03-310001396440Student Resource Center, LLC | Secured Debt 12024-12-310001396440Student Resource Center, LLC | Preferred Equity2025-01-012025-03-310001396440Student Resource Center, LLC | Preferred Equity2024-12-310001396440Student Resource Center, LLC | Preferred Equity2025-03-310001396440Student Resource Center, LLC | Secured Debt 22025-03-310001396440Student Resource Center, LLC | Secured Debt 22025-01-012025-03-310001396440Student Resource Center, LLC | Secured Debt 22024-12-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2025-01-012025-03-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2024-12-310001396440Superior Rigging & Erecting Co. | Preferred Member Units2025-03-310001396440The Affiliati Network, LLC | Secured Debt 12025-03-310001396440The Affiliati Network, LLC | Secured Debt 12025-01-012025-03-310001396440The Affiliati Network, LLC | Secured Debt 12024-12-310001396440The Affiliati Network, LLC | Secured Debt 22025-03-310001396440The Affiliati Network, LLC | Secured Debt 22025-01-012025-03-310001396440The Affiliati Network, LLC | Secured Debt 22024-12-310001396440The Affiliati Network, LLC | Preferred Stock 12025-01-012025-03-310001396440The Affiliati Network, LLC | Preferred Stock 12024-12-310001396440The Affiliati Network, LLC | Preferred Stock 12025-03-310001396440The Affiliati Network, LLC | Preferred Stock 22025-01-012025-03-310001396440The Affiliati Network, LLC | Preferred Stock 22024-12-310001396440The Affiliati Network, LLC | Preferred Stock 22025-03-310001396440UnionRock Energy Fund II, LP | LP Interests2025-01-012025-03-310001396440UnionRock Energy Fund II, LP | LP Interests2024-12-310001396440UnionRock Energy Fund II, LP | LP Interests2025-03-310001396440UnionRock Energy Fund III, LP | LP Interests2025-01-012025-03-310001396440UnionRock Energy Fund III, LP | LP Interests2024-12-310001396440UnionRock Energy Fund III, LP | LP Interests2025-03-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 12025-03-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 12025-01-012025-03-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 12024-12-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 22025-03-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 22025-01-012025-03-310001396440UniTek Global Services, Inc. | Secured Convertible Debt 22024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 12025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 12025-01-012025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 12024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 22025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 22025-01-012025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 22024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 32025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 32025-01-012025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 32024-12-310001396440UniTek Global Services, Inc. | Preferred Stock 42025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 42025-01-012025-03-310001396440UniTek Global Services, Inc. | Preferred Stock 42024-12-310001396440UniTek Global Services, Inc. | Common Stock2025-01-012025-03-310001396440UniTek Global Services, Inc. | Common Stock2024-12-310001396440UniTek Global Services, Inc. | Common Stock2025-03-310001396440Urgent DSO LLC | Secured Debt2025-03-310001396440Urgent DSO LLC | Secured Debt2025-01-012025-03-310001396440Urgent DSO LLC | Secured Debt2024-12-310001396440Urgent DSO LLC | Preferred Equity2025-03-310001396440Urgent DSO LLC | Preferred Equity2025-01-012025-03-310001396440Urgent DSO LLC | Preferred Equity2024-12-310001396440World Micro Holdings, LLC | Secured Debt2025-03-310001396440World Micro Holdings, LLC | Secured Debt2025-01-012025-03-310001396440World Micro Holdings, LLC | Secured Debt2024-12-310001396440World Micro Holdings, LLC | Preferred Equity2025-01-012025-03-310001396440World Micro Holdings, LLC | Preferred Equity2024-12-310001396440World Micro Holdings, LLC | Preferred Equity2025-03-310001396440Other | Preferred Equity2025-01-012025-03-310001396440Other | Preferred Equity2024-12-310001396440Other | Preferred Equity2025-03-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period2025-01-012025-03-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period2024-12-310001396440Amounts related to investments transferred to or from other 1940 Act classification during the period2025-03-310001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2024-12-310001396440us-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-310001396440us-gaap:MidwestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-03-310001396440us-gaap:MidwestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-310001396440main:NortheastRegionAndCanadaMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-03-310001396440main:NortheastRegionAndCanadaMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-310001396440us-gaap:SoutheastRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-03-310001396440us-gaap:SoutheastRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-310001396440us-gaap:SouthwestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-03-310001396440us-gaap:SouthwestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-310001396440us-gaap:WestRegionMemberus-gaap:InvestmentAffiliatedIssuerControlledMember2025-03-310001396440us-gaap:WestRegionMemberus-gaap:InvestmentAffiliatedIssuerNoncontrolledMember2025-03-31\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nUNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\nWashington, D.C. 20549\n\nForm 10-Q\n\n(Mark One)\n\nþ    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the quarterly period ended March 31, 2026\n\nOR\n\no    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934\n\nFor the transition period from:             to             \n\nCommission File Number: 814-00746\n\nMain Street Capital Corporation\n\n(Exact name of registrant as specified in its charter)\n\nMaryland\n\n41-2230745\n\n(State or other jurisdiction of\n\nincorporation or organization)\n\n(I.R.S. Employer\n\nIdentification No.)\n\n1300 Post Oak Boulevard, 8th Floor\n\nHouston, TX\n\n77056\n\n(Address of principal executive offices)\n\n(Zip Code)\n\n(713) 350-6000\n\n(Registrant’s telephone number, including area code)\n\nn/a\n\n(Former name, former address and former fiscal year, if changed since last report)\n\nSecurities registered pursuant to Section 12(b) of the Act:\n\nTitle of Each ClassTrading Symbol\nName of Each Exchange on Which\n\nRegistered\n\nCommon Stock, par value $0.01 per shareMAIN\nNew York Stock Exchange\n\nNYSE Texas\n\nIndicate 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\n\nIndicate 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\n\nIndicate 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.\n\nLarge accelerated filer\nþ\nAccelerated filer\no\nNon-accelerated filer\no\nSmaller reporting company\no\n\nEmerging growth company\no\n\nIf 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\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ\n\nThe number of shares outstanding of the issuer’s common stock as of May 7, 2026 was 92,989,838.\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nTABLE OF CONTENTS\n\n[PART I](#iefa38768cfef4e00bbbde3befbf870e2_10)\n\n[FINANCIAL INFORMATION](#iefa38768cfef4e00bbbde3befbf870e2_10)\n\n[Item 1.](#iefa38768cfef4e00bbbde3befbf870e2_16)\n\n[Consolidated Financial Statements](#iefa38768cfef4e00bbbde3befbf870e2_16)\n\n[Consolidated Balance Sheets—](#iefa38768cfef4e00bbbde3befbf870e2_16)[March](#iefa38768cfef4e00bbbde3befbf870e2_16)[3](#iefa38768cfef4e00bbbde3befbf870e2_16)[1](#iefa38768cfef4e00bbbde3befbf870e2_16)[, 202](#iefa38768cfef4e00bbbde3befbf870e2_16)[6](#iefa38768cfef4e00bbbde3befbf870e2_16)[(unaudited) and December 31, 202](#iefa38768cfef4e00bbbde3befbf870e2_16)5\n\n[1](#iefa38768cfef4e00bbbde3befbf870e2_16)\n\n[Consolidated Statements of Operations (unaudited)—Three](#iefa38768cfef4e00bbbde3befbf870e2_19)[months ended](#iefa38768cfef4e00bbbde3befbf870e2_19)[March 31](#iefa38768cfef4e00bbbde3befbf870e2_19)[,](#iefa38768cfef4e00bbbde3befbf870e2_19)[2026 and](#iefa38768cfef4e00bbbde3befbf870e2_19)[2025](#iefa38768cfef4e00bbbde3befbf870e2_19)\n\n[2](#iefa38768cfef4e00bbbde3befbf870e2_19)\n\n[Consolidated Statements of Changes in Net Assets (unaudited)—Three](#iefa38768cfef4e00bbbde3befbf870e2_22)[months ended](#iefa38768cfef4e00bbbde3befbf870e2_22)[March](#iefa38768cfef4e00bbbde3befbf870e2_22)[31](#iefa38768cfef4e00bbbde3befbf870e2_22)[,](#iefa38768cfef4e00bbbde3befbf870e2_22)[2026 and](#iefa38768cfef4e00bbbde3befbf870e2_22)[2025](#iefa38768cfef4e00bbbde3befbf870e2_22)\n\n[3](#iefa38768cfef4e00bbbde3befbf870e2_22)\n\n[Consolidated Statements of Cash Flows (unaudited)—](#iefa38768cfef4e00bbbde3befbf870e2_25)[Three](#iefa38768cfef4e00bbbde3befbf870e2_25)[months ended](#iefa38768cfef4e00bbbde3befbf870e2_25)[March 31](#iefa38768cfef4e00bbbde3befbf870e2_25)[, 202](#iefa38768cfef4e00bbbde3befbf870e2_25)[6](#iefa38768cfef4e00bbbde3befbf870e2_25)[and ](#iefa38768cfef4e00bbbde3befbf870e2_25)[2025](#iefa38768cfef4e00bbbde3befbf870e2_25)\n\n[4](#iefa38768cfef4e00bbbde3befbf870e2_25)\n\n[Consolidated Schedule of Investments (unaudited)—](#iefa38768cfef4e00bbbde3befbf870e2_28)[March 31](#iefa38768cfef4e00bbbde3befbf870e2_28)[, 20](#iefa38768cfef4e00bbbde3befbf870e2_28)[26](#iefa38768cfef4e00bbbde3befbf870e2_28)\n\n[5](#iefa38768cfef4e00bbbde3befbf870e2_28)\n\n[Consolidated Schedule of Investments—December 31, 202](#iefa38768cfef4e00bbbde3befbf870e2_31)[5](#iefa38768cfef4e00bbbde3befbf870e2_31)\n\n[36](#iefa38768cfef4e00bbbde3befbf870e2_31)\n\n[Notes to Consolidated Financial Statements (unaudited)](#iefa38768cfef4e00bbbde3befbf870e2_37)\n\n[66](#iefa38768cfef4e00bbbde3befbf870e2_37)\n\n[Consolidated Schedules of Investments in and Advances to Affiliates (unaudited)—](#iefa38768cfef4e00bbbde3befbf870e2_85)[Three](#iefa38768cfef4e00bbbde3befbf870e2_85)[months ended](#iefa38768cfef4e00bbbde3befbf870e2_85)[March](#iefa38768cfef4e00bbbde3befbf870e2_85)[3](#iefa38768cfef4e00bbbde3befbf870e2_85)[1](#iefa38768cfef4e00bbbde3befbf870e2_85)[,](#iefa38768cfef4e00bbbde3befbf870e2_85)[2026](#iefa38768cfef4e00bbbde3befbf870e2_85)[and](#iefa38768cfef4e00bbbde3befbf870e2_85)[2025](#iefa38768cfef4e00bbbde3befbf870e2_85)\n\n[111](#iefa38768cfef4e00bbbde3befbf870e2_85)\n\n[Item 2.](#iefa38768cfef4e00bbbde3befbf870e2_91)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#iefa38768cfef4e00bbbde3befbf870e2_91)\n\n[130](#iefa38768cfef4e00bbbde3befbf870e2_91)\n\n[Item 3.](#iefa38768cfef4e00bbbde3befbf870e2_118)\n\n[Quantitative and Qualitative Disclosures about Market Risk](#iefa38768cfef4e00bbbde3befbf870e2_118)\n\n[147](#iefa38768cfef4e00bbbde3befbf870e2_118)\n\n[Item 4.](#iefa38768cfef4e00bbbde3befbf870e2_121)\n\n[Controls and Procedures](#iefa38768cfef4e00bbbde3befbf870e2_121)\n\n[148](#iefa38768cfef4e00bbbde3befbf870e2_121)\n\n[PART II](#iefa38768cfef4e00bbbde3befbf870e2_124)\n\n[OTHER INFORMATION](#iefa38768cfef4e00bbbde3befbf870e2_124)\n\n[Item 1.](#iefa38768cfef4e00bbbde3befbf870e2_127)\n\n[Legal Proceedings](#iefa38768cfef4e00bbbde3befbf870e2_127)\n\n[149](#iefa38768cfef4e00bbbde3befbf870e2_127)\n\n[Item 1A.](#iefa38768cfef4e00bbbde3befbf870e2_130)\n\n[Risk Factors](#iefa38768cfef4e00bbbde3befbf870e2_130)\n\n[149](#iefa38768cfef4e00bbbde3befbf870e2_130)\n\n[Item 2.](#iefa38768cfef4e00bbbde3befbf870e2_133)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#iefa38768cfef4e00bbbde3befbf870e2_133)\n\n[149](#iefa38768cfef4e00bbbde3befbf870e2_133)\n\n[Item 5.](#iefa38768cfef4e00bbbde3befbf870e2_136)\n\n[Other Information](#iefa38768cfef4e00bbbde3befbf870e2_136)\n\n[149](#iefa38768cfef4e00bbbde3befbf870e2_133)\n\n[Item 6.](#iefa38768cfef4e00bbbde3befbf870e2_139)\n\n[Exhibits](#iefa38768cfef4e00bbbde3befbf870e2_139)\n\n[150](#iefa38768cfef4e00bbbde3befbf870e2_139)\n\n[Signatures](#iefa38768cfef4e00bbbde3befbf870e2_142)\n\n[151](#iefa38768cfef4e00bbbde3befbf870e2_142)\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Balance Sheets\n\n(in thousands, except shares and per share amounts)\n\nMarch 31,\n2026\n\nDecember 31,\n2025\n\n(Unaudited)\n\nASSETS\n\nInvestments at fair value:\n\nControl investments (cost: $1,884,724 and $1,824,132 as of March 31, 2026 and December 31, 2025, respectively)\n$2,583,010 $2,569,626 \n\nAffiliate investments (cost: $966,939 and $881,641 as of March 31, 2026 and December 31, 2025, respectively)\n1,055,658 965,179 \n\nNon‑Control/Non‑Affiliate investments (cost: $2,081,821 and $2,018,755 as of March 31, 2026 and December 31, 2025, respectively)\n2,036,083 1,983,312 \n\nTotal investments (cost: $4,933,484 and $4,724,528 as of March 31, 2026 and December 31, 2025, respectively)\n5,674,751 5,518,117 \n\nCash and cash equivalents20,791 41,959 \n\nInterest and dividend receivable and other assets119,805 107,905 \n\nDeferred financing costs (net of accumulated amortization of $18,351 and $17,601 as of March 31, 2026 and December 31, 2025, respectively)\n13,051 13,720 \n\nTotal assets$5,828,398 $5,681,701 \n\nLIABILITIES\n\nCredit Facilities$386,000 $518,000 \n\nMarch 2029 Notes (par: $550,000 and $350,000 as of March 31, 2026 and December 31, 2025, respectively)\n551,015 347,721 \n\nJuly 2026 Notes (par: $500,000 as of both March 31, 2026 and December 31, 2025)\n499,846 499,715 \n\nJune 2027 Notes (par: $400,000 as of both March 31, 2026 and December 31, 2025)\n399,641 399,569 \n\nAugust 2028 Notes (par: $350,000 as of both March 31, 2026 and December 31, 2025)\n348,187 347,996 \n\nSBIC debentures (par: $350,000 as of both March 31, 2026 and December 31, 2025)\n344,887 344,593 \n\nAccounts payable and other liabilities47,826 67,799 \n\nInterest payable20,306 30,094 \n\nDividend payable24,126 23,358 \n\nDeferred tax liability, net112,920 108,963 \n\nTotal liabilities2,734,754 2,687,808 \n\nCommitments and contingencies (Note K)\n\nNET ASSETS\n\nCommon stock, $0.01 par value per share (150,000,000 shares authorized; 92,454,655 and 89,834,849 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively)\n925 898 \n\nAdditional paid‑in capital2,607,285 2,457,660 \n\nTotal undistributed earnings485,434 535,335 \n\nTotal net assets3,093,644 2,993,893 \n\nTotal liabilities and net assets$5,828,398 $5,681,701 \n\nNET ASSET VALUE PER SHARE$33.46 $33.33 \n\nThe accompanying notes are an integral part of these consolidated financial statements\n\n1\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Statements of Operations\n\n(in thousands, except shares and per share amounts)\n\n(Unaudited)\n\nThree Months Ended\nMarch 31,\n\n2026\n\n2025\n\nINVESTMENT INCOME:\n\nInterest, dividend and fee income:\n\nControl investments$61,664 $56,242 \n\nAffiliate investments26,181 23,734 \n\nNon‑Control/Non‑Affiliate investments52,261 57,070 \n\nTotal investment income140,106 137,046 \n\nEXPENSES:\n\nInterest(34,043)(31,168)\n\nCompensation(13,185)(11,476)\n\nGeneral and administrative(5,396)(5,086)\n\nShare‑based compensation(5,105)(4,842)\n\nExpenses allocated to the External Investment Manager5,466 5,336 \n\nTotal expenses(52,263)(47,236)\n\nNET INVESTMENT INCOME BEFORE TAXES87,843 89,810 \n\nExcise tax expense(381)(1,341)\n\nFederal and state income and other tax expenses(2,883)(2,572)\n\nNET INVESTMENT INCOME 84,579 85,897 \n\nNET REALIZED GAIN (LOSS):\n\nControl investments10,035 22 \n\nAffiliate investments— 2,064 \n\nNon‑Control/Non‑Affiliate investments7,938 (31,631)\n\nTotal net realized gain (loss)17,973 (29,545)\n\nNET UNREALIZED APPRECIATION (DEPRECIATION):\n\nControl investments(47,208)401 \n\nAffiliate investments5,181 39,003 \n\nNon‑Control/Non‑Affiliate investments(8,572)23,786 \n\nTotal net unrealized appreciation (depreciation)(50,599)63,190 \n\nIncome tax provision on net realized gain (loss) and net unrealized appreciation (depreciation)(2,972)(3,460)\n\nNET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS$48,981 $116,082 \n\nNET INVESTMENT INCOME PER SHARE—BASIC AND DILUTED $0.93 $0.97 \n\nNET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS PER SHARE—BASIC AND DILUTED$0.54 $1.31 \n\nWEIGHTED-AVERAGE SHARES OUTSTANDING—BASIC AND DILUTED90,654,821 88,711,015 \n\nThe accompanying notes are an integral part of these consolidated financial statements\n\n2\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Statements of Changes in Net Assets\n\n(in thousands, except shares)\n\n(Unaudited)\n\nCommon StockAdditional\nPaid-In\nCapitalTotal\nUndistributed\nEarningsTotal Net\nAsset Value\n\nNumber of\nSharesPar\nValue\n\nBalances as of December 31, 2024\n88,400,391$884 $2,394,492 $402,462 $2,797,838 \n\nPublic offering of common stock, net of offering costs89,0911 5,197 — 5,198 \n\nShare‑based compensation—— 4,842 — 4,842 \n\nDividend reinvestment156,7492 9,085 — 9,087 \n\nAmortization of directors’ deferred compensation—— 108 — 108 \n\nIssuance of restricted stock, net of forfeited shares13,366— — — — \n\nNet increase in net assets resulting from operations—— — 116,082 116,082 \n\nDividends to stockholders—— 190 (93,212)(93,022)\n\nBalances as of March 31, 2025\n88,659,597$887 $2,413,914 $425,332 $2,840,133 \n\nBalances as of December 31, 2025\n89,838,001$898 $2,457,660 $535,335 $2,993,893 \n\nPublic offering of common stock, net of offering costs2,430,82525 134,258 — 134,283 \n\nShare‑based compensation—— 5,105 — 5,105 \n\nDividend reinvestment173,5232 9,959 — 9,961 \n\nAmortization of directors’ deferred compensation—— 90 — 90 \n\nIssuance of restricted stock, net of forfeited shares19,924— — — — \n\nNet increase in net assets resulting from operations—— — 48,981 48,981 \n\nDividends to stockholders—— 213 (98,882)(98,669)\n\nBalances as of March 31, 2026\n92,462,273$925 $2,607,285 $485,434 $3,093,644 \n\nThe accompanying notes are an integral part of these consolidated financial statements\n\n3\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Statements of Cash Flows\n\n(in thousands)\n\n(Unaudited)\n\nThree Months Ended\nMarch 31,\n\n2026\n\n2025\n\nCASH FLOWS FROM OPERATING ACTIVITIES\n\nNet increase in net assets resulting from operations$48,981 $116,082 \n\nAdjustments to reconcile net increase in net assets resulting from operations to net cash used in operating activities:\n\nInvestments in portfolio companies(391,937)(242,705)\n\nProceeds from sales and repayments of debt investments in portfolio companies166,033 144,716 \n\nProceeds from sales and return of capital of equity investments in portfolio companies41,746 19,806 \n\nNet unrealized (appreciation) depreciation50,599 (63,190)\n\nNet realized (gain) loss(17,973)29,545 \n\nAccretion of unearned income(5,008)(4,484)\n\nPayment-in-kind interest(3,847)(3,986)\n\nCumulative dividends(1,032)(681)\n\nShare-based compensation expense5,105 4,842 \n\nAmortization of deferred financing costs1,618 1,473 \n\nDeferred taxes3,957 4,887 \n\nChanges in other assets and liabilities:\n\nInterest and dividend receivable and other assets(9,890)(1,710)\n\nInterest payable(9,788)(3,274)\n\nAccounts payable and other liabilities(19,884)(22,629)\n\nDeferred fees and other2,776 909 \n\nNet cash used in operating activities(138,544)(20,399)\n\nCASH FLOWS FROM FINANCING ACTIVITIES\n\nProceeds from public offering of common stock, net of offering costs134,283 5,198 \n\nProceeds from public offering of March 2029 Notes\n200,000 — \n\nDividends paid(87,940)(83,870)\n\nProceeds from Credit Facilities531,000 273,000 \n\nRepayments on Credit Facilities(663,000)(143,000)\n\nDebt issuance premiums, net3,033 — \n\nNet cash provided by financing activities117,376 51,328 \n\nNet increase (decrease) in cash and cash equivalents(21,168)30,929 \n\nCASH AND CASH EQUIVALENTS AS OF BEGINNING OF PERIOD41,959 78,251 \n\nCASH AND CASH EQUIVALENTS AS OF END OF PERIOD$20,791 $109,180 \n\nSupplemental cash flow disclosures:\n\nInterest paid$42,187 $32,924 \n\nTaxes paid$4,263 $8,046 \n\nNon-cash financing activities:\n\nValue of shares issued pursuant to the dividend reinvestment plan$9,961 $9,087 \n\nThe accompanying notes are an integral part of these consolidated financial statements\n\n4\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nControl Investments (5)\n\nAmerican Nuts, LLC(10)Roaster, Mixer and Packager of Bulk Nuts and Seeds\n\nSecured Debt (9) 3/27/202612.36%SF+8.50%12.36%3/28/2028$311 $311 $311 \n\nSecured Debt (9) 3/25/202512.31%SF+8.50%12.31%3/28/20288,412 8,412 8,412 \n\nSecured Debt (9) 3/25/202512.31%SF+8.50%12.31%3/28/20288,412 8,412 6,943 \n\nPreferred Equity3/25/202526,6388,970 3,780 \n\n26,105 19,446 \n\nAnalytical Systems Keco Holdings, LLCManufacturer of Liquid and Gas Analyzers\n\nSecured Debt8/16/201913.25%8/16/20293,742 3,710 3,710 \n\nPreferred Member Units5/20/20212,4112,387 6,030 \n\nPreferred Member Units8/16/20193,1083,200 550 \n\nWarrants (27) 8/16/20194208/16/2029316 — \n\n9,613 10,290 \n\nBatjer TopCo, LLCHVAC Mechanical Contractor\n\nSecured Debt (25) 3/7/20223/7/2027— (2)— \n\nSecured Debt (25) 3/7/20223/7/2027— — — \n\nSecured Debt3/7/202210.00%3/7/20279,833 9,814 9,833 \n\nPreferred Stock (8) 3/7/20224,0734,095 9,370 \n\n13,907 19,203 \n\nBDB Holdings, LLCCasual Restaurant Group\n\nSecured Debt2/24/202512.00%2/27/20271,773 1,773 1,773 \n\nPreferred Equity11/4/202419,536,99519,537 7,780 \n\n21,310 9,553 \n\nBolder Panther Group, LLCConsumer Goods and Fuel Retailer\n\nSecured Debt (9) (22) 12/31/202012.09%SF+8.40%10/31/2027101,046 100,836 101,046 \n\nClass B Preferred Member Units (8)12/31/2020140,0008.00%14,000 31,190 \n\n114,836 132,236 \n\nBrewer Crane Holdings, LLCProvider of Crane Rental and Operating Services\n\nSecured Debt (9) 1/9/201813.79%SF+10.00%12/31/20265,016 5,016 5,016 \n\nPreferred Member Units (8) 1/9/20182,9504,280 2,970 \n\nPreferred Member Units (8) 7/7/202531215.00%15.00%348 348 \n\n9,644 8,334 \n\nBridge Capital Solutions CorporationFinancial Services and Cash Flow Solutions Provider\n\nPreferred Member Units (29) 7/25/201617,7421,000 — \n\nWarrants (27) 7/25/2016827/25/20262,132 — \n\n3,132 — \n\nCalifornia Splendor Holdings LLCProcessor of Frozen Fruits\n\n5\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt (25) 3/15/20248/28/2028— (10)(10)\n\nSecured Debt3/30/201814.00%8/28/202825,800 25,779 25,391 \n\nPreferred Member Units (8) 7/31/201911,67115.00%15.00%16,107 16,107 \n\nPreferred Member Units (8) 3/30/20188,72916,402 8,391 \n\n58,278 49,879 \n\nCBT Nuggets, LLCProduces and Sells IT Training Certification Videos\n\nMember Units (8) 6/1/20064161,300 45,570 \n\nCentre Technologies Holdings, LLCProvider of IT Hardware Services and Software Solutions\n\nSecured Debt (9) (25) 1/4/2019SF+8.00%1/4/2028— — — \n\nSecured Debt (9) 11/29/202411.79%SF+8.00%1/4/202824,085 24,061 24,085 \n\nPreferred Member Units1/4/201913,8836,386 45,940 \n\n30,447 70,025 \n\nChamberlin Holding LLCRoofing and Waterproofing Specialty Contractor\n\nSecured Debt (9) (25) 2/26/2018SF+6.00%2/26/2029— (36)— \n\nSecured Debt (9) 2/26/201811.86%SF+8.00%2/26/202941,220 41,004 41,220 \n\nMember Units (8) 2/26/20184,34711,440 39,510 \n\nMember Units (8) (29) 11/2/20181,047,1461,773 4,080 \n\n54,181 84,810 \n\nCharps, LLCPipeline Maintenance and Construction\n\nUnsecured Debt8/26/202014.00%1/31/20305,694 5,293 5,694 \n\nPreferred Member Units (8) 2/3/20171,8291,963 16,020 \n\n7,256 21,714 \n\nClad-Rex Steel, LLCSpecialty Manufacturer of Vinyl-Clad Metal\n\nSecured Debt (25) 10/28/20227/31/2027— — — \n\nSecured Debt12/20/201610.00%7/31/20309,240 9,171 9,240 \n\nSecured Debt12/20/201610.00%12/20/2036917 911 917 \n\nMember Units (8) 12/20/20167177,280 14,890 \n\nMember Units (29) 12/20/2016800509 1,510 \n\n17,871 26,557 \n\nCody Pools, Inc.Designer of Residential and Commercial Pools\n\nSecured Debt (25) 3/6/202012/3/2030— (87)— \n\nSecured Debt3/6/202012.50%12/3/203034,260 33,733 34,260 \n\nPreferred Member Units (8) (29) 3/6/20205878,317 64,270 \n\n41,963 98,530 \n\nColonial Electric Company LLCProvider of Electrical Contracting Services\n\nSecured Debt (25) 3/31/20213/31/2028— — — \n\n6\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt3/31/20219.00%3/31/20288,779 8,685 8,779 \n\nPreferred Member Units (8) 3/31/202117,2807,680 18,950 \n\n16,365 27,729 \n\nCompareNetworks Topco, LLCInternet Publishing and Web Search Portals\n\nSecured Debt (9) 1/29/201914.79%SF+11.00%1/29/20284,000 3,995 3,936 \n\nPreferred Member Units1/29/20192,2503,520 3,900 \n\n7,515 7,836 \n\nCompass Systems & Sales, LLCDesigner of End-to-End Material Handling Solutions\n\nSecured Debt (25) 11/22/202311/22/2028— (14)(14)\n\nSecured Debt11/22/202313.50%11/22/202816,200 16,115 15,976 \n\nPreferred Equity11/22/20237,4547,454 7,450 \n\n23,555 23,412 \n\nCopper Trail Fund Investments(12) (13)Investment Partnership\n\nLP Interests (CTMH, LP) (30) 7/17/201738.75%390 530 \n\nCybermedia Technologies, LLCIT and Digital Services Provider\n\nSecured Debt (25) 5/5/20235/5/2028— — — \n\nSecured Debt5/5/202313.00%5/5/202826,810 26,697 26,692 \n\nPreferred Member Units5/5/202355615,000 4,050 \n\nPreferred Equity4/1/20252,400,0002,400 6,910 \n\n44,097 37,652 \n\nDatacom, LLCTechnology and Telecommunications Provider\n\nSecured Debt (17) 3/1/20227.50%12/31/2025675 675 675 \n\nSecured Debt (17) 3/31/202110.00%12/31/20257,745 7,745 3,086 \n\nPreferred Member Units3/31/20219,3602,970 — \n\n11,390 3,761 \n\nDigital Products Holdings LLCDesigner and Distributor of Consumer Electronics\n\nSecured Debt (9) 4/1/201813.69%SF+10.00%4/27/202911,957 11,953 11,348 \n\nPreferred Member Units (8) 4/1/20183,8579,501 9,835 \n\n21,454 21,183 \n\nDirect Marketing Solutions, Inc.Provider of Omni-Channel Direct Marketing Services\n\nSecured Debt (25) 2/13/20182/28/2031— (30)— \n\nSecured Debt12/27/202214.00%2/28/203143,857 43,519 43,857 \n\nPreferred Stock2/13/20189,93613,040 28,834 \n\n56,529 72,691 \n\nDoral Holdings, LLCMachinery Moving, Rigging and Millwrighting Provider\n\n7\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt (25) 5/20/20255/20/2030— — — \n\nSecured Debt5/20/202513.00%5/20/203022,500 22,316 22,500 \n\nPreferred Equity (8) 5/20/202513,00013,000 24,200 \n\n35,316 46,700 \n\nElgin AcquireCo, LLCManufacturer and Distributor of Engine and Chassis Components\n\nSecured Debt (9) (25) 10/3/2022SF+6.00%10/3/2027— (2)(2)\n\nSecured Debt10/3/202212.00%10/3/202716,661 16,611 16,611 \n\nSecured Debt10/3/20229.00%10/3/20526,198 6,143 6,143 \n\nCommon Stock10/3/20222855,726 5,190 \n\nCommon Stock (29) 10/3/20229391,558 3,330 \n\n30,036 31,272 \n\nFlame King Holdings, LLCPropane Tank and Accessories Distributor\n\nSecured Debt6/30/202512.00%6/30/203066,000 $65,448 $66,000 \n\nPreferred Equity (8) 10/29/20219,36010,400 55,750 \n\n75,848 121,750 \n\nGamber-Johnson Holdings, LLCManufacturer of Ruggedized Computer Mounting Systems\n\nSecured Debt (9) (34)6/24/201611.19%SF+7.50%1/1/20281,600 1,600 1,600 \n\nSecured Debt (9) (34)11/22/202411.19%SF+7.50%1/1/202874,966 74,864 74,966 \n\nMember Units (8) 6/24/20169,04217,692 117,830 \n\nMember Units (29) 12/15/2025408304 304 \n\n94,460 194,700 \n\nGarreco, LLCManufacturer and Supplier of Dental Products\n\nMember Units7/15/20131,2001,200 1,720 \n\nGRT Rubber Technologies LLCManufacturer of Engineered Rubber Products\n\nSecured Debt12/21/20189.79%SF+6.00%10/29/20263,146 3,144 3,146 \n\nSecured Debt12/19/201411.79%SF+8.00%10/29/202640,493 40,464 40,493 \n\nMember Units (8) 12/19/20145,87913,065 44,010 \n\n56,673 87,649 \n\nHarris Preston Fund Investments(12) (13)Investment Partnership\n\nLP Interests (2717 MH, L.P.) (30) 10/1/201749.26%1,158 1,865 \n\nLP Interests (2717 HPP-MS, L.P.) (8) (30) 3/11/202249.26%256 257 \n\nLP Interests (2717 GRE-LP, L.P.) (30) 4/18/202443.05%441 516 \n\nLP Interests (423 COR, L.P.) (30) 6/2/202226.89%2,900 5,339 \n\n4,755 7,977 \n\n8\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nHarrison Hydra-Gen, Ltd.Manufacturer of Hydraulic Generators\n\nCommon Stock (8) 6/4/2010107,456718 7,080 \n\nIG Investor, LLCMilitary and Other Tactical Gear\n\nSecured Debt6/21/202313.00%6/21/2028800 782 800 \n\nSecured Debt6/21/202313.00%6/21/202834,264 34,111 34,264 \n\nCommon Equity6/21/202314,40014,400 28,760 \n\n49,293 63,824 \n\nJensen Jewelers of Idaho, LLCRetail Jewelry Store\n\nSecured Debt (9) (25) 8/29/2017P+6.75%11/14/2026— — — \n\nSecured Debt (9) 11/14/200613.50%P+6.75%11/14/2026728 728 728 \n\nMember Units (8) 11/14/2006627811 12,160 \n\n1,539 12,888 \n\nJorVet Holdings, LLCSupplier and Distributor of Veterinary Equipment and Supplies\n\nSecured Debt3/28/202212.00%3/28/202723,321 23,275 23,275 \n\nPreferred Equity (8) 3/28/2022109,92610,993 10,993 \n\n34,268 34,268 \n\nJTI Electrical & Mechanical, LLC(10)Electrical, Mechanical and Automation Services\n\nSecured Debt (9) (14) 8/25/20258.92%SF+5.00%8.92%6/20/20306,529 6,529 6,529 \n\nSecured Debt (9) (14) 8/25/20259.92%SF+6.00%9.92%6/20/203036,513 36,513 8,657 \n\nSecured Debt (14) 8/25/202515.00%15.00%6/20/203016,842 6,205 — \n\nCommon Equity12/22/20211,684,2111,684 — \n\nCommon Equity8/25/2025842,000842 — \n\n51,773 15,186 \n\nKickhaefer Manufacturing Company, LLCPrecision Metal Parts Manufacturing\n\nSecured Debt10/31/201811.50%10/31/202610,199 10,196 10,196 \n\nSecured Debt10/31/20189.00%10/31/20483,897 3,866 3,866 \n\nPreferred Equity (8) 10/31/201858112,240 18,350 \n\nMember Units (8) (29) 10/31/2018800992 4,190 \n\n27,294 36,602 \n\nLegacy Swim GroupSwim Lessons Provider\n\nSecured Debt11/7/202513.00%11/7/203032,000 31,707 31,707 \n\nPreferred Equity (8) 11/7/202536614,996 14,996 \n\n46,703 46,703 \n\nMetalforming Holdings, LLCDistributor of Sheet Metal Folding and Metal Forming Equipment\n\nSecured Debt (25) 10/19/202210/19/2026— — — \n\nSecured Debt10/19/20228.75%10/19/202717,237 17,184 17,237 \n\nPreferred Equity (8) 10/19/20225,915,5858.00%8.00%5,916 5,916 \n\nCommon Stock (8) 10/19/20221,537,2191,537 10,060 \n\n9\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n24,637 33,213 \n\nMoffitt Holdings, LLCBulk Fuel and Lubricants Distributor\n\nSecured Debt3/19/202513.00%3/19/203033,688 33,422 33,422 \n\nPreferred Equity3/19/202514,30014,300 15,560 \n\n47,722 48,982 \n\nMS Private Loan Fund I, LP(12) (13)Investment Partnership\n\nSecured Debt (9) 1/26/20216.69%SF+3.00%3/23/203112,300 12,300 12,300 \n\nLP Interests (8) (30) 1/26/202114.51%15,000 13,593 \n\n27,300 25,893 \n\nMS Private Loan Fund II, LP(12) (13)Investment Partnership\n\nSecured Debt (9) (25) 9/5/2023SF+3.00%3/5/2029— (77)(77)\n\nLP Interests (8) (30) 9/5/202312.46%10,500 11,153 \n\n10,423 11,076 \n\nMSC Adviser I, LLC(16)Third Party Investment Advisory Services\n\nMember Units (8) 11/22/2013100%29,500 233,060 \n\nMSC Income Fund, Inc.(12) (13)Business Development Company\n\nSecured Debt (9) (25) 2/26/2026SF+4.50%12/31/2029— (147)(147)\n\nCommon Equity (8) 5/2/20222,025,22030,013 24,667 \n\n29,866 24,520 \n\nMVI MSO, LLCVascular Practice Specializing in Comprehensive Vein and Artery Diagnosis and Treatment\n\nSecured Debt3/28/202513.00%3/28/20309,850 9,772 9,772 \n\nPreferred Equity (8) 3/28/20252702,700 4,080 \n\n12,472 13,852 \n\nNAPCO Precast, LLCPrecast Concrete Manufacturing\n\nMember Units (8) 1/31/20082,9554,145 11,150 \n\nMember Units (8) (29) 9/30/2025468— 568 \n\n4,145 11,718 \n\nNello Industries Investco, LLCManufacturer of Steel Poles and Towers For Critical Infrastructure\n\nSecured Debt6/4/202412.50%6/4/202941,272 41,067 41,272 \n\nPreferred Equity (8) 6/4/2024336,80311,197 29,550 \n\n52,264 70,822 \n\nNexRev LLCProvider of Energy Efficiency Products & Services\n\nPreferred Member Units2/28/2018103,144,1868,213 12,590 \n\nNRP Jones, LLCManufacturer of Hoses, Fittings and Assemblies\n\nSecured Debt (14) 12/21/201712.00%9/18/20282,191 2,160 370 \n\nPreferred Equity12/8/2011495,000482 — \n\n10\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nMember Units12/22/201174,761114 — \n\nMember Units12/22/201174,7613,823 — \n\nCommon Equity (29) 6/20/2025927,581928 928 \n\n7,507 1,298 \n\nNuStep, LLCDesigner, Manufacturer and Distributor of Fitness Equipment\n\nSecured Debt (9) 1/31/201710.29%SF+6.50%1/31/20282,600 2,600 2,600 \n\nSecured Debt1/31/201712.00%1/31/203018,440 18,166 18,166 \n\nPreferred Member Units11/2/20222,4002,785 6,290 \n\nPreferred Member Units1/31/201748611,866 10,930 \n\n35,417 37,986 \n\nOMi Topco, LLCManufacturer of Overhead Cranes\n\nSecured Debt8/31/202112.00%12/31/202929,000 28,959 29,000 \n\nPreferred Member Units (8) 4/1/20089001,080 79,040 \n\n30,039 108,040 \n\nOrttech Holdings, LLCDistributor of Industrial Clutches, Brakes and Other Components\n\nSecured Debt (9) (25) 7/30/2021SF+11.00%7/31/2026— — — \n\nSecured Debt (9) 7/30/202114.79%SF+11.00%7/31/202620,760 20,746 20,760 \n\nPreferred Stock (29) 7/30/202110,00010,000 13,450 \n\n30,746 34,210 \n\nPinnacle TopCo, LLCManufacturer and Distributor of Garbage Can Liners, Poly Bags, Produce Bags, and Other Similar Products\n\nSecured Debt (25) 12/21/202312/21/2028— (9)— \n\nSecured Debt12/21/202313.00%12/21/202826,400 26,255 26,400 \n\nPreferred Equity (8) 12/21/202344012,540 20,440 \n\n38,786 46,840 \n\nPPL RVs, Inc.Recreational Vehicle Dealer\n\nSecured Debt (9) (25) 10/31/2019SF+8.75%11/15/2027— (3)— \n\nSecured Debt (9) 11/15/201612.60%SF+8.75%11/15/202715,191 15,134 15,191 \n\nCommon Stock (8) 6/10/20102,0002,150 15,710 \n\nCommon Stock (8) (29) 6/14/2022238,421238 575 \n\n17,519 31,476 \n\nPrinciple Environmental, LLCNoise Abatement Service Provider\n\nSecured Debt7/1/201113.00%11/15/20264,897 4,885 4,897 \n\nPreferred Member Units (8) 2/1/201121,8065,709 15,740 \n\nCommon Stock1/27/20211,0371,200 750 \n\n11,794 21,387 \n\nQuality Lease Service, LLCProvider of Rigsite Accommodation Unit Rentals and Related Services\n\nMember Units6/8/20151,0007,546 460 \n\n11\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nRiver Aggregates, LLCProcessor of Construction Aggregates\n\nMember Units (8) (29) 12/20/20131,500369 9,700 \n\nRobbins Bros. Jewelry, Inc.Bridal Jewelry Retailer\n\nSecured Debt (14) (25) 12/15/202112/15/2026— (68)(68)\n\nSecured Debt (14) 12/15/202112.50%10.00%12/15/202633,660 31,560 13,968 \n\nPreferred Equity12/15/202111,07011,070 — \n\n42,562 13,900 \n\nSpring Engineering Holdings, LLCProvider of Architectural, Engineering and Land Planning and Entitlement Services\n\nSecured Debt2/27/202613.00%2/27/203123,391 23,165 23,165 \n\nPreferred Member Units2/27/20264,6504,650 4,650 \n\n27,815 27,815 \n\nTedder Industries, LLCManufacturer of Firearm Holsters and Accessories\n\nSecured Debt (17) 8/31/201812.00%12.00%8/31/20231,313 1,294 1,313 \n\nSecured Debt (14) (17) 8/31/201812.00%12.00%8/31/202315,200 15,045 5,380 \n\nPreferred Member Units8/28/20236,605661 — \n\nPreferred Member Units2/1/20235,643564 — \n\nPreferred Member Units8/31/20185449,245 — \n\n26,809 6,693 \n\nTeleverde, LLCProvider of Telemarketing and Data Services\n\nPreferred Stock1/26/2022248718 1,794 \n\nMember Units (8) 1/6/20114601,290 2,271 \n\n2,008 4,065 \n\nTrantech Radiator Topco, LLCTransformer Cooling Products and Services\n\nSecured Debt5/31/201911.50%5/31/20311,600 1,600 1,600 \n\nSecured Debt5/31/201913.50%5/31/203131,280 31,061 31,280 \n\nSecured Debt11/21/20259.00%5/31/20272,040 2,035 2,040 \n\nSecured Debt3/25/20269.00%5/31/20272,000 1,991 2,000 \n\nSecured Debt3/25/20269.00%5/31/2027400 398 400 \n\nCommon Stock (8) 5/31/20196546,021 19,850 \n\nCommon Equity (29) 11/21/2025723696 696 \n\n43,802 57,866 \n\nTrinity Medical Holdings, LLCOrthopedic Healthcare Platform\n\nSecured Debt (25) 10/8/202510/8/2030— — — \n\nSecured Debt10/8/202513.00%10/8/203058,500 57,974 57,974 \n\nPreferred Equity10/8/202522,50022,500 22,500 \n\n80,474 80,474 \n\nVictory Energy Operations, LLCProvider of Industrial and Commercial Combustion Systems\n\n12\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt10/3/202413.00%10/3/20292,154 2,130 2,130 \n\nSecured Debt10/3/202413.00%10/3/202948,251 47,913 47,913 \n\nPreferred Equity10/3/202451,42122,471 23,640 \n\n72,514 73,683 \n\nVolusion, LLCProvider of Online Software-as-a-Service eCommerce Solutions\n\nSecured Debt (17) 3/31/202310.00%3/31/20252,100 2,100 2,100 \n\nPreferred Member Units3/31/20235,097,5951,523 2,040 \n\nPreferred Member Units3/31/2023142,512— — \n\nPreferred Member Units1/26/20154,876,67014,000 — \n\nCommon Stock3/31/20231,802,7802,576 — \n\n20,199 4,140 \n\nVVS Holdco LLCOmnichannel Retailer of Animal Health Products\n\nSecured Debt (9) (25) 12/1/2021SF+6.00%12/1/2026— — — \n\nSecured Debt12/1/202111.50%12/1/202624,000 23,968 23,968 \n\nPreferred Equity (29) 12/1/202112,24012,240 12,240 \n\n36,208 36,208 \n\nZiegler’s NYPD, LLCCasual Restaurant Group\n\nSecured Debt7/31/202512.00%12/31/2027150 150 150 \n\nSecured Debt12/30/202412.00%12/31/20271,750 1,750 1,633 \n\nPreferred Member Units6/30/201516,8783,154 — \n\n5,054 1,783 \n\nSubtotal Control investments (83.5% of net assets at fair value)\n$1,884,724 $2,583,010 \n\nAffiliate Investments (6)\n\nAAC Holdings, Inc.(11)Substance Abuse Treatment Service Provider\n\nSecured Debt11/24/202521.00%21.00%11/24/2032$1,083 $978 $1,083 \n\nSecured Debt4/1/202520.00%20.00%11/24/2032940 940 940 \n\nSecured Debt (14) 3/28/202520.00%20.00%11/24/20323,109 3,109 2,544 \n\nSecured Debt (14) 3/28/202520.00%20.00%11/24/20323,109 3,109 2,544 \n\nPreferred Equity3/28/202512,621,6358,520 20 \n\nCommon Stock12/11/2020654,7433,148 — \n\n19,804 7,131 \n\nBLI Acquisition, LLCHealthcare Provider Data Services\n\nSecured Debt2/2/202614.00%2/2/203113,200 13,072 13,072 \n\nMember Units2/2/2026210,0002,100 2,100 \n\n15,172 15,172 \n\nBoccella Precast Products LLCManufacturer of Precast Hollow Core Concrete\n\nSecured Debt9/23/202110.00%2/28/2027256 256 256 \n\nMember Units (8) 6/30/20172,160,0002,256 2,630 \n\n13\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n2,512 2,886 \n\nBuca C, LLCCasual Restaurant Group\n\nSecured Debt (14) (17) 8/7/202415.00%15.00%11/4/20248,750 6,333 — \n\nSecured Debt (14) (17) 6/28/202415.00%15.00%4/1/202518 — — \n\nSecured Debt (14) (17) 6/30/201515.00%15.00%8/31/202311,534 5,862 — \n\nPreferred Member Units6/30/201566.00%6.00%4,770 — \n\n16,965 — \n\nCareer Team Holdings, LLCProvider of Workforce Training and Career Development Services\n\nSecured Debt (9) (25) 12/17/2021SF+6.00%6/5/2030— (43)(43)\n\nSecured Debt12/17/202113.00%6/5/203021,892 21,570 21,570 \n\nCommon Stock12/17/2021516,6175,166 5,370 \n\n26,693 26,897 \n\nCenterPeak Holdings, LLCExecutive Search Services\n\nSecured Debt12/10/202115.00%12/10/20261,800 1,796 1,800 \n\nSecured Debt12/10/202115.00%12/10/202625,107 25,104 25,107 \n\nPreferred Equity (8) 12/10/20213,3103,635 25,580 \n\n30,535 52,487 \n\nCGMS Parent LLCCommercial Subcontractor Specializing in Concrete Flatwork\n\nSecured Debt (25) 12/26/202512/26/2030— (37)(37)\n\nSecured Debt12/26/202513.00%12/26/203024,844 24,612 24,612 \n\nPreferred Equity (8) 12/26/20252,00010,000 10,000 \n\n34,575 34,575 \n\nClassic H&G Holdings, LLCProvider of Engineered Packaging Solutions\n\nPreferred Member Units3/12/2020154— 2,130 \n\nCongruent Credit Opportunities Funds(12) (13)Investment Partnership\n\nLP Interests (Congruent Credit Opportunities Fund III, LP) (8) (30) 2/4/201512.49%308 836 \n\nConnect Telecommunications Solutions Holdings, Inc.(13) (21)Value-Added Distributor of Fiber Products and Equipment\n\nSecured Debt10/9/202413.00%10/9/202923,436 23,271 23,271 \n\nPreferred Equity10/9/202422,30412,596 12,596 \n\n35,867 35,867 \n\nDMA Industries, LLCDistributor of Aftermarket Ride Control Products\n\nSecured Debt6/18/202410.00%6/18/2029560 556 560 \n\nSecured Debt11/19/202110.00%6/18/202912,800 12,757 12,800 \n\nPreferred Equity11/19/20215,9445,944 13,674 \n\n14\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Equity (8) 6/18/20243,06815.00%15.00%3,893 7,883 \n\n23,150 34,917 \n\nDos Rios Partners(12) (13)Investment Partnership\n\nLP Interests (Dos Rios Partners, LP) (30) 4/25/201320.24%6,032 8,027 \n\nLP Interests (Dos Rios Partners - A, LP) (30) 4/25/20136.43%1,915 2,549 \n\n7,947 10,576 \n\nDos Rios Stone Products LLC(10)Limestone and Sandstone Dimension Cut Stone Mining Quarries\n\nClass A Preferred Units (29) 6/27/20162,000,0002,000 — \n\nEIG Fund Investments(12) (13)Investment Partnership\n\nLP Interests (EIG Global Private Debt Fund-A, L.P.) (8) 11/6/20155,000,00084 37 \n\nFCC Intermediate Holdco, LLCSupply Chain Management Services\n\nSecured Debt (25) 5/28/20245/28/2029— — — \n\nSecured Debt5/28/202413.00%5/29/202930,750 28,269 30,750 \n\nWarrants (8) (27) 5/28/2024125/28/20343,920 14,660 \n\n32,189 45,410 \n\nFreeport Financial Funds(12) (13)Investment Partnership\n\nLP Interests (Freeport Financial SBIC Fund LP) (30) 3/23/20159.30%2,337 1,546 \n\nLP Interests (Freeport First Lien Loan Fund III LP) (30) 7/31/20155.95%671 193 \n\n3,008 1,739 \n\nFRG AcquireCo, LLCTechnology Focused Risk Management Advisory Firm\n\nSecured Debt (25) 9/22/20259/22/2028— (17)(17)\n\nSecured Debt9/22/202513.50%9/22/20308,482 8,407 8,407 \n\nPreferred Equity9/22/20253,5003,500 3,500 \n\n11,890 11,890 \n\nGFG Group, LLCGrower and Distributor of a Variety of Plants and Products to Other Wholesalers, Retailers and Garden Centers\n\nSecured Debt3/31/20218.00%3/31/202614,053 14,053 14,053 \n\nPreferred Member Units (8) 3/31/20212264,900 10,940 \n\n18,953 24,993 \n\nGulf Manufacturing, LLC(13)Manufacturer of Specialty Fabricated Industrial Piping Products\n\nSecured Debt3/15/202411.82%SF+8.13%3/15/20293,000 2,971 2,971 \n\nSecured Debt3/15/202411.82%SF+8.13%3/15/202937,200 36,367 36,367 \n\n15\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nMember Units (8) 8/31/20074382,980 6,500 \n\nCommon Stock (8) (29) 11/18/2024888888 1,450 \n\nPreferred Equity12/23/20252082,077 5,190 \n\n45,283 52,478 \n\nHarris Preston Fund Investments(12) (13)Investment Partnership\n\nLP Interests (HPEP 3, L.P.) (30) 8/9/20178.22%1,297 3,736 \n\nLP Interests (HPEP 4, L.P.) (30) 7/12/202211.61%7,694 9,535 \n\nLP Interests (423 HAR, L.P.) (8) (30) 6/2/202315.60%750 1,226 \n\n9,741 14,497 \n\nHawk Ridge Systems, LLCValue-Added Reseller of Engineering Design and Manufacturing Solutions\n\nSecured Debt (9) (25) 12/2/2016SF+6.00%1/15/2029— (23)— \n\nSecured Debt (25) 1/2/20261/15/2029— — — \n\nSecured Debt (25) 1/2/20261/15/2029— — — \n\nSecured Debt12/2/201611.00%1/15/202949,871 49,600 49,871 \n\nPreferred Member Units (8) 12/2/20162262,850 26,310 \n\nPreferred Member Units (29) 12/2/2016226150 1,380 \n\n52,577 77,561 \n\nHouston Plating and Coatings, LLCProvider of Plating and Industrial Coating Services\n\nUnsecured Convertible Debt5/1/201710.00%4/2/20293,000 3,000 3,000 \n\nMember Units (8) 1/8/2003322,2972,352 3,510 \n\n5,352 6,510 \n\nIndependent Pet Partners Intermediate Holdings, LLC(10)Omnichannel Retailer of Specialty Pet Products\n\nCommon Equity4/7/202318,006,40718,300 19,000 \n\nInfinity X1 Holdings, LLCManufacturer and Supplier of Personal Lighting Products\n\nSecured Debt (25) 2/2/20263/31/2028— — — \n\nSecured Debt3/31/202312.00%3/31/202815,074 15,065 15,074 \n\nPreferred Equity (8) 3/31/202387,3604,368 8,340 \n\n19,433 23,414 \n\nIntegral Energy Services(10)Nuclear Power Staffing Services\n\nSecured Debt (9) 8/20/202111.42%SF+7.50%8/20/202612,273 12,252 11,786 \n\nPreferred Equity (8) 12/7/20233,18810.00%10.00%288 427 \n\nPreferred Equity6/3/20253,07810.00%10.00%328 404 \n\nCommon Stock8/20/20219,9681,356 280 \n\n14,224 12,897 \n\nIron-Main Investments, LLCConsumer Reporting Agency Providing Employment Background Checks and Drug Testing\n\n16\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt8/2/202113.00%1/31/20284,514 4,502 4,502 \n\nSecured Debt9/1/202113.00%1/31/20282,940 2,932 2,932 \n\nSecured Debt11/15/202113.00%1/31/20288,944 8,944 8,944 \n\nSecured Debt11/15/202113.00%1/31/202817,417 17,369 17,369 \n\nSecured Debt1/31/202313.00%1/31/20289,202 9,088 9,088 \n\nPreferred Equity6/26/202471125.00%25.00%711 1,100 \n\nPreferred Equity9/26/202515525.00%25.00%155 155 \n\nCommon Stock8/3/2021203,0162,756 2,850 \n\n46,457 46,940 \n\nITA Holdings Group, LLCAir Ambulance Services\n\nSecured Debt (9) 6/21/202310.84%SF+7.00%6/21/20271,180 1,174 1,180 \n\nSecured Debt (9) 6/30/202510.84%SF+7.00%6/21/20275,310 5,298 5,310 \n\nSecured Debt (9) (25) 3/4/2026SF+7.00%6/21/2027— — — \n\nSecured Debt (9) 6/21/202310.84%SF+7.00%6/21/20274,935 4,602 4,935 \n\nSecured Debt (9) 6/21/202310.84%SF+7.00%6/21/20274,935 4,602 4,935 \n\nSecured Debt (9) 6/30/202510.84%SF+7.00%6/21/20271,770 1,766 1,770 \n\nSecured Debt (9) 3/4/202610.84%SF+7.00%6/21/20272,360 2,360 2,360 \n\nWarrants (8) (27) 6/21/2023193,3076/21/20332,091 15,230 \n\n21,893 35,720 \n\nKennedy Fab HoldCo, LLCStructural Steel Fabricator Specializing in Fabrication, Product Finishing and Field Services\n\nSecured Debt (25) 3/4/20263/4/2031— (5)(5)\n\nSecured Debt3/4/202613.00%3/4/203130,000 29,705 29,705 \n\nSecured Debt3/4/20269.00%3/4/203120,000 19,961 19,961 \n\nPreferred Equity3/4/202611,49011,490 11,490 \n\n61,151 61,151 \n\nKMS, LLC(10)Wholesaler of Closeout and Value-Priced Products\n\nSecured Debt (9) 12/29/20259.20%SF+5.50%10/1/20281,303 1,267 1,303 \n\nSecured Debt2/10/202512.50%10/1/20281,173 1,151 1,173 \n\nSecured Debt2/10/202512.50%10/1/20281,007 1,007 1,007 \n\nPreferred Equity2/10/20259,2134,890 6,270 \n\n8,315 9,753 \n\nMills Fleet Farm Group, LLC(10)Omnichannel Retailer of Work, Farm and Lifestyle Merchandise\n\nSecured Debt (9) 12/19/20249.81%SF+5.50%9.81%1/28/20312,974 2,974 2,867 \n\nSecured Debt (9) (26) 4/11/20259.17%SF+5.50%9.17%1/28/20311,769 1,769 1,706 \n\nPreferred Equity (8) (29) 12/19/202466,30615,224 11,730 \n\n19,967 16,303 \n\nMoneyThumb Acquisition, LLCProvider of Software-as-a-Service Financial File Conversion and Reconciliation\n\nSecured Debt8/19/202414.00%8/19/20297,564 7,163 7,163 \n\n17\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Member Units (8) 8/19/2024163,28212.00%12.00%1,982 2,300 \n\nWarrants (27) 8/19/202459,3688/19/2029594 870 \n\n9,739 10,333 \n\nNearshore AcquireCo, LLCProvider of Outsourcing Services\n\nSecured Debt (25) 11/12/202511/12/2030— (23)(23)\n\nSecured Debt (25) 11/12/202511/12/2030— (58)(58)\n\nSecured Debt11/12/202513.00%11/12/203021,900 21,699 21,699 \n\nPreferred Equity11/12/202510,520,0005,260 5,260 \n\n26,878 26,878 \n\nOnAsset Intelligence, Inc.Provider of Transportation Monitoring / Tracking Products and Services\n\nSecured Debt (14) 4/18/201112.00%12.00%6/30/20264,415 4,415 646 \n\nSecured Debt (14) 5/10/201312.00%12.00%6/30/20262,116 2,116 309 \n\nSecured Debt (14) 3/21/201412.00%12.00%6/30/2026983 983 144 \n\nSecured Debt (14) 5/20/201412.00%12.00%6/30/2026964 964 141 \n\nUnsecured Debt (14) 6/5/201710.00%10.00%6/30/2026305 305 — \n\nPreferred Stock4/18/20119127.00%7.00%1,981 — \n\nCommon Stock4/15/2021635830 — \n\nWarrants (27) 4/18/20114,6995/10/20271,089 — \n\n12,683 1,240 \n\nOneliance, LLCConstruction Cleaning Company\n\nPreferred Stock (8) 8/6/20211,1281,128 3,270 \n\nRA Outdoors LLC(10)Software Solutions Provider for Outdoor Activity Management\n\nSecured Debt (9) 4/8/202110.56%SF+6.75%10.56%6/30/20271,471 1,471 1,219 \n\nSecured Debt (9) 2/5/202510.59%SF+6.75%10.59%6/30/2027464 464 385 \n\nSecured Debt (9) 7/17/202510.59%SF+6.75%10.59%6/30/2027453 453 375 \n\nSecured Debt (9) 4/8/202110.56%SF+6.75%10.56%6/30/202715,387 15,380 12,751 \n\nCommon Equity8/12/2024110— — \n\n17,768 14,730 \n\nRevenue Recovery Holdings, LLCThird Party Tax Collection Services\n\nSecured Debt (25) 7/25/20257/25/2030— (17)(17)\n\nSecured Debt7/25/202513.00%7/25/20306,700 6,643 6,643 \n\nPreferred Equity7/25/2025104,9041,049 1,960 \n\n7,675 8,586 \n\nRFG AcquireCo, LLCAerial Survey, Aerial Survey Equipment Sales & Rental, Aircraft Maintenance\n\nSecured Debt (25) 6/2/20256/2/2027— (6)(6)\n\nSecured Debt6/2/202513.50%6/2/20308,000 7,936 7,936 \n\nSecured Debt6/2/202513.50%6/2/203041,500 41,398 41,398 \n\n18\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Equity6/2/202511,40111,401 12,771 \n\n60,729 62,099 \n\nSI East, LLCRigid Industrial Packaging Manufacturing\n\nSecured Debt8/31/201811.80%6/16/20282,250 2,241 2,250 \n\nSecured Debt (23) 6/16/202312.86%6/16/202866,850 66,777 66,850 \n\nPreferred Member Units (8) 8/31/20181651,525 17,190 \n\n70,543 86,290 \n\nSlick Innovations, LLCText Message Marketing Platform\n\nSecured Debt9/13/201814.00%3/21/203024,280 24,068 24,280 \n\nCommon Stock9/13/201870,000— 2,590 \n\n24,068 26,870 \n\nSpecialized Aviation Holdings, LLCDistributor and Service and Maintenance Provider for Specialty Aircraft\n\nSecured Debt8/29/202513.00%8/29/203023,250 23,048 23,048 \n\nPreferred Stock (8) 8/29/202525,00015,000 15,000 \n\n38,048 38,048 \n\nStudent Resource Center, LLC(10)Higher Education Services\n\nSecured Debt9/11/20248.50%8.50%12/31/2027226 226 784 \n\nSecured Debt (14) 12/31/20228.50%8.50%12/31/20275,327 4,884 1,636 \n\nPreferred Equity12/31/20225,907,649— — \n\n5,110 2,420 \n\nSuperior Rigging & Erecting Co.Provider of Steel Erecting, Crane Rental & Rigging Services\n\nPreferred Member Units8/31/20201,6364,500 17,810 \n\nThe Affiliati Network, LLCPerformance Marketing Solutions\n\nPreferred Stock9/1/2023312,910313 313 \n\nPreferred Stock (8) 8/9/20211,280,0006,400 6,400 \n\n6,713 6,713 \n\nUnionRock Energy Fund II, LP(12) (13)Investment Partnership\n\nLP Interests (30) 6/15/202011.11%2,683 4,235 \n\nUnionRock Energy Fund III, LP(12) (13)Investment Partnership\n\nLP Interests (8) (30) 6/6/202314.91%4,834 5,407 \n\nUniTek Global Services, Inc.(11)Provider of Outsourced Infrastructure Services\n\nPreferred Stock8/21/201811,450,41620.00%20.00%8,416 9,388 \n\nPreferred Stock6/30/201721,382,14719.00%19.00%3,667 — \n\nPreferred Stock1/15/201542,338,44013.50%13.50%7,924 — \n\n19\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nCommon Stock4/1/20202,370,059— — \n\n20,007 9,388 \n\nUrgent DSO LLCGeneral and Emergency Dentistry Practice\n\nSecured Debt2/16/202413.50%2/16/20298,800 8,749 8,486 \n\nPreferred Equity (8) 2/16/20244,0004,614 2,560 \n\n13,363 11,046 \n\nWildcats Topco LLCProvider of Veterinary Services and Products\n\nCommon Equity5/8/202522,426,71122,427 22,830 \n\nWorld Micro Holdings, LLCSupply Chain Management\n\nSecured Debt12/12/202213.00%12/12/20279,886 9,853 9,853 \n\nPreferred Equity (8) 12/12/20223,8453,845 3,845 \n\n13,698 13,698 \n\nSubtotal Affiliate investments (34.1% of net assets at fair value)\n$966,939 $1,055,658 \n\nNon-Control/Non-Affiliate Investments (7)\n\nAdams Publishing Group, LLC(10)Local Newspaper Operator\n\nSecured Debt (9) (33)3/11/202211.00%SF+8.00%1.00%3/11/2027$8,019 $8,019 $7,985 \n\nSecured Debt (9) (33)11/26/202511.00%SF+8.00%1.00%3/11/2027771 761 761 \n\nSecured Debt (9) (33)3/11/202211.00%SF+8.00%1.00%3/11/202715,874 15,864 15,806 \n\n24,644 24,552 \n\nAGS American Glass Services Acquisition, LLC(10)Provider of Custom Glass Fabrication & Installation and Specialty Coating Solutions\n\nSecured Debt (9) (25) 7/24/2025SF+5.50%7/24/2031— (33)(33)\n\nSecured Debt (9) (25) 7/24/2025SF+5.50%7/24/2031— (19)(19)\n\nSecured Debt (9) 7/24/20259.17%SF+5.50%7/24/203110,017 9,886 9,782 \n\nPreferred Equity7/24/20257,292729 570 \n\n10,563 10,300 \n\nAiro Purchaser, Inc.(10)Provider of HVAC and Plumbing Installation Services\n\nSecured Debt (9) (25) 8/1/2025SF+5.25%8/1/2030— (60)(60)\n\nSecured Debt (9) (25) 8/1/2025SF+5.25%8/1/2030— (30)(30)\n\nSecured Debt (9) 8/1/20258.92%SF+5.25%8/1/203027,526 27,110 27,526 \n\nCommon Equity8/1/20251,5211,521 1,650 \n\n28,541 29,086 \n\nAMEREQUIP LLC(10)Full Services Provider Including Design, Engineering and Manufacturing of Commercial and Agricultural Equipment\n\nCommon Stock (8) 8/31/20222351,844 — \n\n20\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nAmerican Health Staffing Group, Inc.(10)Healthcare Temporary Staffing\n\nSecured Debt (9) (25) 11/19/2021P+5.25%11/19/2028— (2)(2)\n\nSecured Debt (9) 11/19/202112.00%P+5.25%11/19/20285,376 5,367 5,376 \n\n5,365 5,374 \n\nArborWorks, LLC(10)Vegetation Management Services\n\nSecured Debt11/6/202315.00%15.00%11/6/20284,336 4,336 4,336 \n\nSecured Debt (9) 11/6/202310.28%SF+6.50%10.28%11/6/20289,218 9,218 9,218 \n\nPreferred Equity11/6/202332,50714,060 17,427 \n\nPreferred Equity11/6/202332,507— — \n\nCommon Equity11/9/20213,898234 — \n\n27,848 30,981 \n\nArcher Systems, LLC(10)Mass Tort Settlement Administration Solutions Provider\n\nCommon Stock (8) 8/11/20221,387,8321,388 2,450 \n\nATS Operating, LLC(10)For-Profit Thrift Retailer\n\nSecured Debt (9) (32) 1/18/20229.92%SF+6.00%1/18/20281,620 1,564 1,620 \n\nSecured Debt (9) 1/18/20228.92%SF+5.00%1/18/20286,660 6,660 6,660 \n\nSecured Debt (9) 1/18/202210.92%SF+7.00%1/18/20286,660 6,660 6,660 \n\nCommon Stock1/18/2022720,000720 1,020 \n\n15,604 15,960 \n\nAuria Space, LLC(10)Provider of Satellite Operations and Command Software for Defense and Intelligence Platforms\n\nSecured Debt (9) (25) 12/31/2025SF+5.00%12/31/2030— (160)(160)\n\nSecured Debt (9) 12/31/20258.68%SF+5.00%12/31/203060,805 59,943 59,943 \n\nSecured Debt (9) 12/31/20258.68%SF+5.00%12/31/203057,004 56,204 55,729 \n\nMember Units2/6/2026562,7143,040 3,040 \n\n119,027 118,552 \n\nAVEX Aviation Holdings, LLC(10)Specialty Aircraft Dealer & MRO Provider\n\nSecured Debt (9) (25) 12/23/2022SF+7.25%12/23/2027— (56)(56)\n\nSecured Debt (9) (25) 12/18/2025SF+7.25%12/23/2027— (33)(33)\n\nSecured Debt (9) 12/23/202211.11%SF+7.25%12/23/202723,296 22,944 23,296 \n\nCommon Equity (8) 12/15/2021984934 1,092 \n\n23,789 24,299 \n\nBehavior Development Group Holdings(10)Applied Behavior Analysis Therapy Provider\n\nSecured Debt (9) (32) 12/17/20259.67%SF+6.00%12/17/2030600 579 579 \n\nSecured Debt (9) 12/17/20259.70%SF+6.00%12/17/20309,572 9,438 9,438 \n\nCommon Equity12/17/2025300300 300 \n\n10,317 10,317 \n\n21\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nBerry Aviation, Inc.(10)Charter Airline Services\n\nPreferred Member Units (29) 3/8/2024286,109286 — \n\nPreferred Member Units (29) 11/12/2019122,416— — \n\nPreferred Member Units (29) 7/6/20181,548,387— — \n\n286 — \n\nBluestem Brands, Inc.(11)Multi-Channel Retailer of General Merchandise\n\nSecured Debt (9) (14) 1/9/202412.28%SF+8.50%11.28%5/6/2026202 126 248 \n\nSecured Debt (9) (14) 10/19/202214.25%P+7.50%13.25%5/6/20262,780 2,731 89 \n\nSecured Debt (9) (14) 8/28/202012.28%SF+8.50%11.28%5/6/20264,183 3,908 — \n\nCommon Stock10/1/2020723,1841 — \n\nWarrants (27) 10/19/2022163,29510/19/20321,036 — \n\n7,802 337 \n\nB-O-F Corporation(10)Manufacturer of Gravity Flow Shelving Solutions for Retail Applications\n\nSecured Debt (9) (25) 2/3/2025SF+5.75%2/3/2030— (16)(16)\n\nSecured Debt (9) 2/3/20258.41%SF+4.75%2/3/20303,938 3,885 3,915 \n\nSecured Debt (9) 2/3/202510.41%SF+6.75%2/3/20303,938 3,885 3,915 \n\nCommon Equity2/3/2025248,718249 249 \n\n8,003 8,063 \n\nBond Brand Loyalty ULC(10) (13) (21)Provider of Loyalty Marketing Services\n\nSecured Debt (9) 5/1/20239.56%SF+5.75%5/1/2028571 559 571 \n\nSecured Debt (9) 10/31/20259.56%SF+5.75%5/1/20281,392 1,368 1,392 \n\nSecured Debt (9) 5/1/20238.56%SF+4.75%5/1/20286,261 6,208 6,261 \n\nSecured Debt (9) 5/1/202310.56%SF+6.75%5/1/20286,261 6,208 6,261 \n\nPreferred Equity5/1/2023571571 610 \n\nCommon Equity5/1/2023571— — \n\n14,914 15,095 \n\nBrainworks Software, LLC(10)Advertising Sales and Newspaper Circulation Software\n\nSecured Debt (9) (14) (17) 8/12/201414.00%P+7.25%7/22/2019761 761 — \n\nSecured Debt (9) (14) (17) 8/12/201414.00%P+7.25%7/22/20197,056 7,056 — \n\n7,817 — \n\nBrightwood Capital Fund Investments(12) (13)Investment Partnership\n\nLP Interests (Brightwood Capital Fund III, LP) (30) 7/21/20141.59%4,898 2,607 \n\nLP Interests (Brightwood Capital Fund IV, LP) (8) (30) 10/26/20160.59%3,202 3,224 \n\nLP Interests (Brightwood Capital Fund V, LP) (8) (30) 7/12/20210.72%4,900 5,146 \n\n13,000 10,977 \n\n22\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nCaseWorthy, Inc.(10)SaaS Provider of Case Management Solutions\n\nCommon Equity12/30/2022325,408325 710 \n\nChannel Partners Intermediateco, LLC(10)Outsourced Consumer Services Provider\n\nSecured Debt (9) (32) 2/7/202210.66%SF+6.75%2/7/20274,764 4,684 4,764 \n\nSecured Debt (9) 2/7/202210.64%SF+6.75%2/7/202735,701 35,575 35,701 \n\nSecured Debt (9) 6/24/202210.64%SF+6.75%2/7/20271,978 1,971 1,978 \n\nSecured Debt (9) 3/27/202310.64%SF+6.75%2/7/20274,781 4,754 4,781 \n\n46,984 47,224 \n\nClarius BIGS, LLC(10)Prints & Advertising Film Financing\n\nSecured Debt (14) (17) 9/23/20141/5/20152,628 2,628 8 \n\nComputer Data Source, LLC(10)Third Party Maintenance Provider to the Data Center Ecosystem\n\nSecured Debt3/6/202615.00%15.00%8/6/2026758 736 736 \n\nSecured Debt (9) (32) 8/6/202112.06%SF+8.25%12.06%8/6/20269,062 9,045 7,767 \n\nSecured Debt (9) 8/6/202112.06%SF+8.25%12.06%8/6/202622,022 21,997 18,874 \n\n31,778 27,377 \n\nCore Transformers(10)Refurbisher and Distributor of Electric Transformers\n\nSecured Debt (9) (25) 9/24/2025SF+5.50%9/23/2031— (57)(57)\n\nSecured Debt (9) (25) 9/24/2025SF+5.50%9/23/2031— (57)(57)\n\nSecured Debt (9) 9/24/20259.18%SF+5.50%9/23/20316,269 6,156 6,269 \n\nCommon Equity9/24/2025626,923627 1,030 \n\n6,669 7,185 \n\nCoregistics Buyer LLC(10) (13) (21)Contract Packaging Service Provider\n\nSecured Debt (9) 6/29/202410.17%SF+6.50%6/28/20291,669 1,612 1,650 \n\nSecured Debt (9) 6/29/202410.17%SF+6.50%6/28/202910,543 10,378 10,424 \n\nSecured Debt (9) 6/29/202410.42%SF+6.75%6/28/202931,709 31,196 30,982 \n\nSecured Debt (9) 8/15/202410.16%SF+6.50%6/28/20297,029 6,935 6,949 \n\n50,121 50,005 \n\nCoreStack, Inc.(10)Multi-Cloud Governance Platform Provider\n\nSecured Debt3/25/202610.00%10.00%9/25/20281,378 1,378 1,378 \n\nSecured Debt3/25/20269/25/202813,089 13,089 13,089 \n\n14,467 14,467 \n\nCQ Fluency, LLC(10)Global Language Services Provider\n\nSecured Debt (9) (25) 12/27/2023SF+6.50%6/27/2027— (24)(24)\n\nSecured Debt (9) 12/27/202310.30%SF+6.50%6/27/202710,125 10,016 10,125 \n\n9,992 10,101 \n\n23\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nCRC 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\n\nSecured Debt (9) (25) 8/19/2022SF+6.75%6/30/2029— (151)— \n\nSecured Debt (9) (25) 12/31/2025SF+6.75%6/30/2029— (260)(260)\n\nSecured Debt (9) 12/31/202510.71%SF+6.75%6/30/20299,419 9,248 9,419 \n\nSecured Debt (9) 8/19/202210.71%SF+6.75%6/30/202914,756 14,449 14,756 \n\n23,286 23,915 \n\nCreative Foam Corporation(10)Manufacturer of Custom Engineered Die Cut, Formed Foam, Nonwoven, and Multi-material Component Solutions for the Automotive and Healthcare Markets\n\nSecured Debt (9) (25) 6/27/2024SF+7.00%6/27/2029— (171)(171)\n\nSecured Debt (9) 3/4/202510.65%SF+7.00%6/27/20295,531 5,442 5,531 \n\nSecured Debt (9) 6/27/202410.70%SF+7.00%6/27/202988,683 87,514 88,683 \n\nCommon Equity3/4/202510,8511,085 680 \n\n93,870 94,723 \n\nDalton US Inc.(10)Provider of Supplemental Labor Services\n\nCommon Stock8/16/2022515720 650 \n\nDynamic Communities, LLC(10)Developer of Business Events and Online Community Groups\n\nSecured Debt (9) 12/20/202211.77%SF+8.00%11.77%12/31/20262,689 2,610 2,689 \n\nSecured Debt (9) 12/20/202212.77%SF+9.00%12/31/20262,493 2,259 2,463 \n\nPreferred Equity12/20/2022125,000128 110 \n\nPreferred Equity12/20/20222,376,241— — \n\nCommon Equity12/20/20221,250,000— — \n\n4,997 5,262 \n\nElectro Technical Industries, LLC(10)Manufacturer of Mission-Critical Electrical Distribution Systems\n\nSecured Debt (9) (25) 3/31/2025SF+5.50%3/31/2030— (140)(140)\n\nSecured Debt (9) (26) 3/31/20259.18%SF+5.50%3/31/203049,837 49,047 49,837 \n\nCommon Equity3/31/20251,464,2861,464 3,240 \n\n50,371 52,937 \n\nEmerald Technologies Acquisition Co, Inc.(11)Design & Manufacturing\n\nSecured Debt (9) 2/10/202210.10%SF+6.25%12/29/20279,330 9,242 5,726 \n\nEnCap Energy Fund Investments(12) (13)Investment Partnership\n\n24\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nLP Interests (EnCap Energy Capital Fund VIII, L.P.) (8) (30) 1/22/20150.14%2,560 77 \n\nLP Interests (EnCap Energy Capital Fund VIII Co-\nInvestors, L.P.) (8) (30) 1/21/20150.38%1,394 5 \n\nLP Interests (EnCap Energy Capital Fund IX, L.P.) (8) (30) 1/22/20150.10%3,172 871 \n\nLP Interests (EnCap Energy Capital Fund X, L.P.) (8) (30) 3/25/20150.15%6,995 4,202 \n\nLP Interests (EnCap Energy Capital Fund XII, L.P.) (8) (30) 8/31/20230.19%7,581 8,132 \n\nLP Interests (EnCap Flatrock Midstream Fund II, L.P.) (30) 3/30/20150.84%3,799 15 \n\nLP Interests (EnCap Flatrock Midstream Fund III, L.P.) (8) (30) 3/27/20150.25%3,300 1,119 \n\n28,801 14,421 \n\nEscalent, Inc.(10)Market Research and Consulting Firm\n\nSecured Debt (9) (25) 4/7/2023SF+6.00%4/7/2029— (20)— \n\nSecured Debt (9) 10/2/20249.70%SF+6.00%4/7/20291,344 1,328 1,344 \n\nSecured Debt (9) 4/7/20239.70%SF+6.00%4/7/202925,319 24,927 25,319 \n\nCommon Equity4/7/2023649,794663 910 \n\n26,898 27,573 \n\nEvent Holdco, LLC(10)Event and Learning Management Software for Healthcare Organizations and Systems\n\nSecured Debt (9) 12/22/202110.96%SF+7.00%12/22/20263,692 3,687 3,692 \n\nSecured Debt (9) 12/22/202110.96%SF+7.00%12/22/202647,897 47,832 47,897 \n\n51,519 51,589 \n\nEWMW LP(12) (13)Investment Partnership\n\nSecured Debt12/23/20259.69%SF+6.00%3,048 3,048 3,048 \n\nFuse, LLC(11)Cable Networks Operator\n\nSecured Debt6/30/20192.50%12/31/20281,810 1,810 141 \n\nCommon Stock6/30/201910,429256 — \n\n2,066 141 \n\nGaryline, LLC(10)Manufacturer of Consumer Plastic Products\n\nSecured Debt (9) (32) 4/14/202510.92%SF+7.25%10/14/20272,053 1,992 2,053 \n\nSecured Debt (9) 4/14/202510.92%SF+7.25%10/14/202728,424 28,075 28,424 \n\nCommon Equity11/10/2023705,882706 450 \n\n30,773 30,927 \n\nGradeEight Corp.(10)Distributor of Maintenance and Repair Parts\n\nSecured Debt (9) (32) 10/4/202411.18%SF+7.50%10/4/2029903 833 889 \n\n25\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt (9) 10/4/202411.18%SF+7.50%10/4/20294,176 4,096 4,096 \n\nSecured Debt (9) (26) 10/4/202411.17%SF+7.50%10/4/202930,615 30,184 29,972 \n\nCommon Equity10/4/20241,6531,634 1,030 \n\n36,747 35,987 \n\nGS HVAM Intermediate, LLC(10)Specialized Food Distributor\n\nSecured Debt (9) (32) 10/18/201910.27%SF+6.50%11/30/20266,061 6,047 6,061 \n\nSecured Debt (9) 10/18/201910.27%SF+6.50%11/30/202610,364 10,328 10,364 \n\nSecured Debt (9) 9/15/202310.27%SF+6.50%11/30/2026930 927 930 \n\nSecured Debt (9) 12/22/202310.27%SF+6.50%11/30/2026222 221 222 \n\nSecured Debt (9) 8/22/202410.27%SF+6.50%11/30/20265,996 5,974 5,996 \n\n23,497 23,573 \n\nGULF PACIFIC ACQUISITION, LLC(10)Rice Processor and Merchandiser\n\nSecured Debt (9) (32) 9/30/202210.77%SF+7.00%9/30/2028353 344 330 \n\nSecured Debt (9) 9/30/202210.78%SF+7.00%9/30/2028294 286 275 \n\nSecured Debt (9) 9/30/202210.77%SF+7.00%9/30/20283,533 3,496 3,301 \n\n4,126 3,906 \n\nHarris Preston Fund Investments(12) (13)Investment Partnership\n\nLP Interests (423 AER II, LP) (30) 6/2/20254.13%1,590 1,831 \n\nHDC/HW Intermediate Holdings(10)Managed Services and Hosting Provider\n\nSecured Debt (9) (14) 3/7/20249.01%SF+3.50%2.50%6/21/20262,607 2,557 1,964 \n\nSecured Debt (14) 3/7/20242.50%2.50%6/21/20261,626 713 — \n\nCommon Equity3/7/202464,029— — \n\n3,270 1,964 \n\nHornblower Sub, LLC(10)Marine Tourism and Transportation\n\nSecured Debt (9) (32) 7/3/20249.18%SF+5.50%1.50%7/3/20294,892 4,860 4,839 \n\nSecured Debt (9) 7/3/20249.15%SF+5.50%1.50%7/3/202932,928 32,699 32,509 \n\n37,559 37,348 \n\nHOWLCO LLC(11) (13) (21)Provider of Accounting and Business Development Software to Real Estate End Markets\n\nSecured Debt (9) 8/19/202110.33%SF+6.50%3.50%10/23/202727,423 27,423 26,578 \n\nHybrid Promotions, LLC(10)Wholesaler of Licensed, Branded and Private Label Apparel\n\nSecured Debt (9) 6/30/202111.91%SF+8.25%12/31/20277,200 7,126 7,200 \n\nIG Parent Corporation(11)Software Engineering\n\nSecured Debt (9) (25) 7/30/2021SF+5.75%7/30/2028— (7)— \n\n26\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt (9) 7/30/20219.52%SF+5.75%7/30/202810,101 10,049 10,101 \n\nSecured Debt (9) 7/30/20219.52%SF+5.75%7/30/20284,840 4,813 4,840 \n\n14,855 14,941 \n\nIgnite Visibility LLC(10)Digital Marketing Services Agency\n\nSecured Debt (9) 12/15/20258.41%SF+4.75%12/1/20284,759 4,695 4,695 \n\nSecured Debt (9) 12/15/202510.41%SF+6.75%12/1/20284,759 4,695 4,695 \n\n9,390 9,390 \n\nImaging Business Machines, L.L.C.(10)Technology Hardware & Equipment\n\nCommon Equity (8) 6/8/20238491,166 1,090 \n\nImplus Footcare, LLC(10)Provider of Footwear and Related Accessories\n\nSecured Debt (9) 6/13/20259.70%SF+6.00%4.00%10/30/20281,963 1,963 1,963 \n\nSecured Debt (9) 7/31/20259.70%SF+6.00%9.70%10/30/20284,532 4,532 4,532 \n\nCommon Equity7/31/20254,238,9175,680 3,740 \n\n12,175 10,235 \n\nInsight Borrower Corporation(10)Test, Inspection, and Certification Instrument Provider\n\nSecured Debt (9) (25) 7/19/2023SF+6.25%7/19/2028— (35)(35)\n\nSecured Debt (9) 7/19/20239.92%SF+6.25%7/19/202914,097 13,863 12,838 \n\nCommon Equity7/19/2023131,100656 110 \n\n14,484 12,913 \n\nInspire Aesthetics Management, LLC(10)Surgical and Non-Surgical Plastic Surgery and Aesthetics Provider\n\nSecured Debt (9) 4/3/202313.27%SF+9.50%1.50%4/3/2028861 852 813 \n\nSecured Debt (9) 4/3/202313.27%SF+9.50%1.50%4/3/20287,324 7,250 6,915 \n\nSecured Debt (9) 6/14/202313.27%SF+9.50%1.50%4/3/20282,946 2,918 2,781 \n\nSecured Debt (9) 12/31/202413.27%SF+9.50%1.50%4/3/2028340 340 321 \n\nCommon Equity4/3/2023177,594463 97 \n\n11,823 10,927 \n\nInterface Security Systems, L.L.C(10)Commercial Security & Alarm Services\n\nSecured Debt (17) (32) 12/9/202113.77%SF+10.00%13.77%8/7/20232,475 2,475 2,160 \n\nSecured Debt (9) (14) (17) 8/7/201911.02%SF+7.00%11.02%8/7/20237,313 7,237 5 \n\nCommon Stock12/7/20212,143— — \n\n9,712 2,165 \n\nInvincible Boat Company, LLC.(10)Manufacturer of Sport Fishing Boats\n\nSecured Debt (9) 8/28/201911.32%SF+7.50%3/31/20281,556 1,550 1,226 \n\nSecured Debt (9) (26) 8/28/201911.32%SF+8.00%3.32%3/31/202816,945 16,909 13,288 \n\n18,459 14,514 \n\nIsagenix International, LLC(11)Direct Marketer of Health & Wellness Products\n\n27\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt (9) (14) 4/13/202311.27%SF+7.50%8.77%4/14/20283,159 3,012 457 \n\nCommon Equity4/13/2023198,743— — \n\n3,012 457 \n\nIsland Pump and Tank, LLC(10)Provider of Facility and Maintenance Services to Fuel Retailers in Northeast U.S.\n\nSecured Debt (9) 5/20/202410.92%SF+7.00%5/17/2029456 453 386 \n\nSecured Debt (9) 5/20/20249.92%SF+6.00%5/17/20292,111 2,086 1,785 \n\nSecured Debt (9) 5/20/202410.92%SF+7.00%5/17/20292,111 2,086 1,785 \n\nSecured Debt (9) 5/20/202411.92%SF+8.00%5/17/20292,111 2,086 1,785 \n\n6,711 5,741 \n\nJackmont Hospitality, Inc.(10)Franchisee of Casual Dining Restaurants\n\nSecured Debt (9) (26) 10/26/202211.31%SF+7.50%11/4/2026740 737 740 \n\nSecured Debt (9) (26) 2/27/202411.29%SF+7.50%11/4/2026625 623 625 \n\nSecured Debt (9) (26) 11/1/202411.18%SF+7.50%11/4/2026667 661 667 \n\nSecured Debt (9) 11/8/202111.31%SF+7.50%11/4/20261,711 1,705 1,712 \n\nPreferred Equity11/8/20212,826,667110 650 \n\n3,836 4,394 \n\nJoerns Healthcare, LLC(11)Manufacturer and Distributor of Health Care Equipment & Supplies\n\nSecured Debt (9) 3/30/202411.77%SF+8.00%3/29/20291,833 1,833 1,833 \n\nSecured Debt (9) 3/30/202411.77%SF+8.00%3/29/20291,369 1,369 1,369 \n\nCommon Stock3/29/20245,461,019200 280 \n\n3,402 3,482 \n\nLKCM Headwater Investments(12) (13)Investment Partnership\n\nLP Interests (LKCM Headwater Investments I, L.P.) (8) (30) 1/25/20132.27%— 265 \n\nCommon Equity (LKCM Headwater CV I Minerals, L.P.) (30) 3/27/20261.82%618 618 \n\n618 883 \n\nLLFlex, LLC(10)Provider of Metal-Based Laminates\n\nSecured Debt (9) 8/16/202111.81%SF+8.00%3.00%12/31/20294,246 4,163 3,453 \n\nLogix Acquisition Company, LLC(10)Competitive Local Exchange Carrier\n\nSecured Debt (9) 4/11/202511.17%SF+7.50%2.75%12/31/202844,438 43,812 44,438 \n\nSecured Debt4/11/202512/31/20282,963 2,344 2,260 \n\n46,156 46,698 \n\nLooking Glass Investments, LLC(12) (13)Specialty Consumer Finance\n\nMember Units7/1/20153125 25 \n\n28\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nMCT Purchaserco Holding Inc.(10) (13) (21)Manufacturer and Distributor of High-Voltage Disconnect Switches\n\nSecured Debt (9) 12/1/20259.20%SF+5.50%12/2/20308,944 8,838 8,838 \n\nSecured Debt (9) 12/1/20259.17%SF+5.50%12/2/203039,656 39,284 39,284 \n\nCommon Equity12/1/20251,590,2871,139 1,139 \n\n49,261 49,261 \n\nMicrobe Formulas, LLC(10)Nutritional Supplements Provider\n\nSecured Debt (9) (25) 4/4/2022SF+5.50%4/3/2028— (24)(24)\n\nSecured Debt (9) 11/20/20249.27%SF+5.50%4/3/202810,995 10,904 10,995 \n\nSecured Debt (9) 4/4/20229.27%SF+5.50%4/3/202813,346 13,254 13,346 \n\n24,134 24,317 \n\nMini Melts of America, LLC(10)Manufacturer and Distributor of Branded Premium Beaded Ice Cream\n\nSecured Debt (9) (32) 11/30/20239.92%SF+6.25%11/30/20281,540 1,517 1,429 \n\nSecured Debt (9) (26) 11/30/20239.92%SF+6.25%11/30/20281,302 1,284 1,208 \n\nSecured Debt (9) 11/30/20238.92%SF+5.25%11/30/20284,821 4,758 4,472 \n\nSecured Debt (9) 11/30/202310.92%SF+7.25%11/30/20284,821 4,756 4,470 \n\nCommon Equity11/30/2023524,888525 230 \n\n12,840 11,809 \n\nMission Critical Group(10)Backup Power Generation\n\nSecured Debt (9) (25) 4/17/2025SF+5.50%4/17/2030— (184)(184)\n\nSecured Debt (9) 4/17/20259.17%SF+5.50%4/17/203014,661 14,263 14,661 \n\nSecured Debt (9) 4/17/20259.17%SF+5.50%4/17/203065,932 64,874 65,932 \n\nCommon Equity6/7/20231,2341,234 22,240 \n\n80,187 102,649 \n\nMonitorUS Holding, LLC(10) (13) (21)SaaS Provider of Media Intelligence Services\n\nSecured Debt (9) 5/24/202210.21%SF+6.25%5/24/20274,101 4,084 4,329 \n\nSecured Debt (9) 5/24/202210.21%SF+6.25%5/24/202710,635 10,586 12,121 \n\nSecured Debt (9) 5/24/202210.21%SF+6.25%5/24/202717,890 17,813 17,890 \n\nSecured Debt (9) 6/25/202510.21%SF+6.25%5/24/20271,228 1,214 1,216 \n\nCommon Stock8/30/2022111,058,2461,221 545 \n\n34,918 36,101 \n\nObra Capital, Inc.(10)Provider of Asset Management Services Specialized in Insurance-Linked Strategies\n\nSecured Debt (9) (25) 6/21/2024SF+7.25%12/21/2028— (3)(3)\n\nSecured Debt (9) 6/21/202411.04%SF+7.25%6/21/202926,023 25,522 26,023 \n\nSecured Debt (9) 5/13/202511.04%SF+7.25%6/21/20293,147 3,073 3,147 \n\n28,592 29,167 \n\nOnPoint Industrial Services, LLC(10)Environmental & Facilities Services\n\nSecured Debt (9) 12/18/20249.45%SF+5.75%11/16/20271,383 1,373 1,383 \n\nSecured Debt (9) 4/1/20249.45%SF+5.75%11/16/20273,841 3,819 3,841 \n\n29\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n5,192 5,224 \n\nOspemifene Royalty Sub LLC(10)Estrogen-Deficiency Drug Manufacturer and Distributor\n\nSecured Debt (14) 7/8/201311/15/20264,335 4,335 6 \n\nPavCon LLC(10)Provider of Predictive Data Analytics to the Department of Defense\n\nSecured Debt (9) (25) 1/2/2026SF+5.50%1/2/2031— (29)(29)\n\nSecured Debt (9) (25) 1/2/2026SF+5.50%1/2/2031— (29)(29)\n\nSecured Debt (9) 1/2/20269.46%SF+5.50%1/2/203110,850 10,644 10,644 \n\n10,586 10,586 \n\nPeaches Holding CorporationWholesale Provider of Consumer Packaging Solutions\n\nCommon Equity5/22/20243,2267,221 — \n\nPrimeFlight Aviation Services(10) (13)Air Freight & Logistics\n\nSecured Debt (9) 5/1/20239.16%SF+5.50%5/1/20297,780 7,630 7,780 \n\nSecured Debt (9) 9/7/20239.20%SF+5.50%5/1/2029743 727 743 \n\nSecured Debt (9) 1/30/20249.20%SF+5.50%5/1/2029747 735 747 \n\nSecured Debt (9) 6/28/20248.95%SF+5.25%5/1/2029848 840 848 \n\nSecured Debt (9) 1/21/20258.92%SF+5.25%5/1/20291,881 1,867 1,881 \n\nSecured Debt (9) 7/31/20258.92%SF+5.25%5/1/20292,016 2,000 2,016 \n\nSecured Debt (9) 11/21/20258.41%SF+4.75%5/1/20292,123 2,104 2,123 \n\nSecured Debt (9) 2/4/20268.41%SF+4.75%5/1/202911,573 11,464 11,573 \n\n27,367 27,711 \n\nRichardson Sales Solutions(10)Business Services\n\nSecured Debt (9) (25) 8/24/2023SF+5.00%8/24/2028— (49)— \n\nSecured Debt (9) 8/24/20238.67%SF+5.00%8/24/202832,949 32,401 32,945 \n\nSecured Debt (9) 9/10/20248.65%SF+5.00%8/24/202821,406 21,145 21,404 \n\n53,497 54,349 \n\nRoof Opco, LLC(10)Residential Re-Roofing/Repair\n\nSecured Debt (25) 8/27/20218/31/2029— (2)— \n\nSecured Debt8/27/202110.00%10.00%8/31/20293,672 3,657 2,742 \n\nSecured Debt8/27/202110.00%10.00%8/31/20293,708 3,693 2,656 \n\n7,348 5,398 \n\nRoyal Cup Inc.(10)Coffee Roaster and Beverage Solutions Provider\n\nSecured Debt (9) 11/26/20258.91%SF+5.25%11/26/20304,188 3,978 4,143 \n\nSecured Debt (9) (25) 11/26/2025SF+5.25%11/26/2030— (79)(79)\n\nSecured Debt (9) (25) 11/26/2025SF+5.25%11/26/2030— (341)(341)\n\nSecured Debt (9) 11/26/20258.93%SF+5.25%11/26/203053,167 52,430 52,596 \n\nPreferred Equity11/26/20253,807,1443,807 3,807 \n\n59,795 60,126 \n\n30\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nRug Doctor, LLC.(10)Carpet Cleaning Products and Machinery\n\nSecured Debt (9) 7/16/20219.17%SF+5.50%5/16/20282,821 2,820 2,821 \n\nSecured Debt (9) 7/16/20219.20%SF+5.50%5/16/20286,727 6,644 6,727 \n\n9,464 9,548 \n\nSouth Coast Terminals Holdings, LLC(10)Specialty Toll Chemical Manufacturer\n\nSecured Debt (9) (25) 8/8/2024SF+5.25%8/8/2029— — — \n\nSecured Debt (9) 8/8/20249.02%SF+5.25%8/8/202953,320 53,041 53,320 \n\nSecured Debt (9) 7/31/20259.02%SF+5.25%8/8/202910,449 10,363 10,449 \n\nCommon Equity12/10/2021864864 1,013 \n\n64,268 64,782 \n\nSPAU Holdings, LLC(10)Digital Photo Product Provider\n\nSecured Debt (9) (32) 7/1/202210.84%SF+7.00%7/2/20291,469 1,433 1,469 \n\nSecured Debt (9) 7/1/202210.85%SF+7.00%7/2/202915,369 15,192 15,369 \n\nCommon Stock7/1/2022638,710639 630 \n\n17,264 17,468 \n\nTEC Services, LLC(10)Provider of Janitorial Service for Food Retailers\n\nSecured Debt (9) (25) 12/31/2024SF+5.50%12/31/2029— (71)(71)\n\nSecured Debt (9) (25) 12/31/2024SF+5.50%12/31/2029— (53)(53)\n\nSecured Debt (9) 12/31/20249.30%SF+5.50%12/31/202931,985 31,632 31,985 \n\n31,508 31,861 \n\nTectonic Financial, LLCFinancial Services Organization\n\nCommon Stock (8) 5/15/2017200,0002,000 5,000 \n\nTex Tech Tennis, LLC(10)Sporting Goods & Textiles\n\nPreferred Equity (8) (29) 7/7/20211,000,0001,000 3,100 \n\nTitan Meter Midco Corp.(10)Value Added Distributor of a Variety of Metering and Measurement Products and Solutions to the Energy Industry\n\nSecured Debt (9) 3/11/202410.20%SF+6.50%3/11/20291,439 1,366 1,439 \n\nSecured Debt (9) 3/11/202410.20%SF+6.50%3/11/202933,499 32,809 33,499 \n\nSecured Debt (9) 2/27/202510.20%SF+6.50%3/11/20294,287 4,210 4,287 \n\nSecured Debt (9) 8/5/202510.20%SF+6.50%3/11/20294,851 4,752 4,851 \n\nPreferred Equity3/11/20241,358,8928.00%8.00%1,375 1,830 \n\n44,512 45,906 \n\nU.S. TelePacific Corp.(11)Provider of Communications and Managed Services\n\nSecured Debt (9) 3/18/202614.78%SF+11.00%10.00%5/2/2026658 658 658 \n\nSecured Debt (9) (14) 6/1/202313.75%P+7.00%7.00%5/2/20279,811 2,611 4,038 \n\nSecured Debt (14) 6/1/20235/2/20271,003 20 — \n\n31\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n3,289 4,696 \n\nUBM AcquireCo LLCMail Commingling and Logistics Provider\n\nSecured Debt (25) 12/20/202512/20/2027— (34)(34)\n\nSecured Debt12/20/202510.00%12/20/203042,800 42,400 42,400 \n\nCommon Equity (8) 12/20/2025808,000 8,000 \n\n50,366 50,366 \n\nUPS Intermediate, LLC(10)Provider of Maintenance, Repair, and Overhaul Services for Industrial Equipment Serving the Refining, Chemical, Midstream, Renewables, Power, and Utilities End Markets\n\nSecured Debt (9) 3/10/202610.17%SF+6.50%7/29/202913,134 12,871 13,131 \n\nSecured Debt (9) 3/10/202610.17%SF+6.50%7/29/20293,541 3,461 3,540 \n\nSecured Debt (9) 7/29/202410.17%SF+6.50%7/27/202942,794 42,232 42,784 \n\nCommon Equity7/29/20241,4431,443 1,630 \n\n60,007 61,085 \n\nUserZoom Technologies, Inc.(10)Provider of User Experience Research Automation Software\n\nSecured Debt (9) 1/7/202611.40%SF+7.75%1.75%4/5/2029323 317 323 \n\nSecured Debt (9) 1/11/202311.42%SF+7.75%1.75%4/5/20294,016 3,950 4,016 \n\n4,267 4,339 \n\nVitesse Systems(10)Component Manufacturing and Machining Platform\n\nSecured Debt (32) 12/22/202310.95%SF+7.00%12/22/20287,727 7,609 7,727 \n\nSecured Debt (9) 3/4/202610.92%SF+7.00%12/22/20283,883 3,789 3,883 \n\nSecured Debt (9) 12/22/202310.96%SF+7.00%12/22/202841,544 40,979 41,544 \n\n52,377 53,154 \n\nVORTEQ Coil Finishers, LLC(10)Specialty Coating of Aluminum and Light-Gauge Steel\n\nCommon Equity (8) 11/30/20211,038,4621,038 4,030 \n\nWash & Wax Systems LLC(10)Express Car Wash Operator\n\nSecured Debt (9) (32) 4/30/20259.19%SF+5.50%4/30/2028322 322 322 \n\nSecured Debt (9) 4/30/20259.17%SF+5.50%4/30/20287,498 7,498 7,498 \n\nSecured Debt4/30/202512.00%12.00%7/31/20285,392 5,392 5,392 \n\nCommon Equity4/30/20253,2193,410 1,370 \n\n16,622 14,582 \n\nWatterson Brands, LLC(10)Facility Management Services\n\nSecured Debt (14) 12/17/202112.00%4.00%12/17/20262,339 2,257 1,343 \n\nSecured Debt (14) 12/17/202112.00%4.00%12/17/2026402 380 231 \n\nSecured Debt (14) 12/17/202112.00%4.00%12/17/202616,540 15,978 9,499 \n\nSecured Debt (14) 12/17/202112.00%4.00%12/17/202613,230 12,780 7,598 \n\n31,395 18,671 \n\n32\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nWinter Services LLC(10)Provider of Snow Removal and Ice Management Services\n\nSecured Debt (9) (32) 11/19/202111.43%SF+7.50%11/19/20272,933 2,875 2,933 \n\nSecured Debt (9) 11/19/202111.42%SF+7.50%11/19/20271,874 1,866 1,874 \n\nSecured Debt (9) 1/16/202410.42%SF+6.50%11/19/20277,240 7,192 7,240 \n\nSecured Debt (9) 1/16/202412.42%SF+8.50%11/19/20277,240 7,192 7,240 \n\n19,125 19,287 \n\nXenon Arc, Inc.(10)Tech-enabled Distribution Services to Chemicals and Food Ingredients Primary Producers\n\nSecured Debt (9) 12/17/20219.54%SF+5.75%12/20/202823,510 23,330 23,510 \n\nSecured Debt (9) 12/17/20219.52%SF+5.75%12/20/202836,959 36,702 36,960 \n\nSecured Debt (9) 3/31/20259.55%SF+5.75%12/20/202810,525 10,374 10,525 \n\n70,406 70,995 \n\nYS Garments, LLC(11)Designer and Provider of Branded Activewear\n\nSecured Debt (9) (26) 8/22/201811.26%SF+7.50%8/9/202710,592 10,520 9,007 \n\nZRG Partners, LLC(10)Talent Advisory Services Provider\n\nSecured Debt (9) 6/14/202411.75%P+5.00%6/14/20298,685 8,552 8,685 \n\nSecured Debt (9) (26) 6/14/20249.69%SF+6.00%6/14/202915,920 15,670 15,920 \n\nSecured Debt (9) 6/14/20249.60%SF+6.00%6/14/20296,485 6,399 6,485 \n\nSecured Debt (9) 6/14/20249.69%SF+6.00%6/14/202946,385 45,767 46,385 \n\n76,388 77,475 \n\nSubtotal Non-Control/Non-Affiliate investments (65.8% of net assets at fair value)\n$2,081,821 $2,036,083 \n\nTotal Portfolio Company investments, March 31, 2026 (183.4% of net assets at fair value)\n$4,933,484 $5,674,751 \n\nMoney market funds (included in cash and cash equivalents)\n\nDreyfus Government Cash Management (35)$3,968 $3,968 \n\nFidelity Government Fund (36)1,230 1,230 \n\nFidelity Treasury (31)363 363 \n\nTotal money market funds$5,561 $5,561 \n\n___________________________\n\n(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\n\n33\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nthe 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).\n\n(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.\n\n(3)See Note C — Fair Value Hierarchy for Investments — Portfolio Composition and Schedule 12-14 for a summary of geographic location of portfolio companies.\n\n(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.\n\n(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.\n\n(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.\n\n(7)“Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.\n\n(8)Income producing through dividends or distributions.\n\n(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 1.29%.\n\n(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.\n\n(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.\n\n(12)Other Portfolio (as defined below) investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Other Portfolio investments.\n\n(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.\n\n(14)Non-accrual or non-income producing debt investment.\n\n(15)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.”\n\n(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.\n\n(17)Maturity date is under on-going negotiations with the portfolio company and other lenders, if applicable.\n\n(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.\n\n(19)Investments may have a portion, or all, of their income received from Paid-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 March 31, 2026.\n\n(20)All portfolio company headquarters are based in the U.S., unless otherwise noted.\n\n(21)Portfolio company headquarters are located outside of the U.S.\n\n34\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\n(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.\n\n(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.\n\n(24)Investment Date represents the date of initial investment in the security position.\n\n(25)The position is unfunded and no interest income is being earned as of March 31, 2026. The position may earn a nominal unused facility fee on committed amounts.\n\n(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 March 31, 2026.\n\n(27)Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit.\n\n(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 March 31, 2026, SOFR based contracts in the portfolio had Adjustments ranging from 0.10% to 0.26%.\n\n(29)Shares/Units represent ownership in a related real estate or holding entity.\n\n(30)Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated.\n\n(31)Effective yield as of March 31, 2026 was approximately 3.31% on the Fidelity Treasury.\n\n(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 March 31, 2026.\n\n(33)Index based floating interest rate is subject to contractual maximum base rate of 3.00%.\n\n(34)Index based floating interest rate is subject to contractual maximum base rate of 4.00%.\n\n(35)Effective yield as of March 31, 2026 was approximately 3.54% on the Dreyfus Government Cash Management.\n\n(36)Effective yield as of March 31, 2026 was approximately 3.29% on the Fidelity Government Fund.\n\n35\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nControl Investments (5)\n\nAmerican Nuts, LLC(10)Roaster, Mixer and Packager of Bulk Nuts and Seeds\n\nSecured Debt(9)3/25/202512.64%SF+8.50%12.64%3/28/2028$8,161 $8,161 $8,161 \n\nSecured Debt(9)3/25/202512.64%SF+8.50%12.64%3/28/20288,161 8,161 6,582 \n\nPreferred Equity3/25/202526,6388,970 4,250 \n\n25,292 18,993 \n\nAnalytical Systems Keco Holdings, LLCManufacturer of Liquid and Gas Analyzers\n\nSecured Debt8/16/201913.75%8/16/20293,895 3,860 3,860 \n\nPreferred Member Units5/20/20212,4112,387 6,030 \n\nPreferred Member Units8/16/20193,1083,200 120 \n\nWarrants(27)8/16/20194208/16/2029316 — \n\n9,763 10,010 \n\nASC Interests, LLCRecreational and Educational Shooting Facility\n\nSecured Debt(17)12/31/201913.00%7/31/2024400 400 400 \n\nSecured Debt(17)8/1/201313.00%7/31/20241,533 1,533 1,502 \n\nPreferred Member Units6/28/2023178178 — \n\nMember Units8/1/20131,5001,500 — \n\n3,611 1,902 \n\nBatjer TopCo, LLCHVAC Mechanical Contractor\n\nSecured Debt(25)3/7/20223/7/2027— (2)— \n\nSecured Debt(25)3/7/20223/7/2027— — — \n\nSecured Debt3/7/202210.00%3/7/20279,945 9,921 9,945 \n\nPreferred Stock(8)3/7/20224,0734,095 8,750 \n\n14,014 18,695 \n\nBDB Holdings, LLCCasual Restaurant Group\n\nSecured Debt2/24/202512.00%2/27/20271,773 1,773 1,773 \n\nPreferred Equity11/4/202418,756,99519,537 12,640 \n\n21,310 14,413 \n\nBettercloud, Inc.(10)SaaS Provider of Workflow Management and Business Application Solutions\n\nSecured Debt(9) (32)11/10/202512.07%SF+8.25%12.07%6/30/20286,017 6,017 6,017 \n\nCommon Equity11/10/20256916,890 15,690 \n\n22,907 21,707 \n\nBolder Panther Group, LLCConsumer Goods and Fuel Retailer\n\nSecured Debt(9) (22)12/31/202011.10%SF+7.22%10/31/2027101,046 100,803 101,046 \n\nClass B Preferred Member Units(8)12/31/2020140,0008.00%14,000 31,190 \n\n114,803 132,236 \n\nBrewer Crane Holdings, LLCProvider of Crane Rental and Operating Services\n\nSecured Debt(9)1/9/201813.98%SF+10.00%12/31/20265,016 5,016 5,016 \n\nPreferred Member Units(8)1/9/20182,9504,280 3,460 \n\n36\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Member Units(8)7/7/202531215.00%15.00%336 336 \n\n9,632 8,812 \n\nBridge Capital Solutions CorporationFinancial Services and Cash Flow Solutions Provider\n\nPreferred Member Units(29)7/25/201617,7421,000 — \n\nWarrants(27)7/25/2016827/25/20262,132 — \n\n3,132 — \n\nCalifornia Splendor Holdings LLCProcessor of Frozen Fruits\n\nSecured Debt(25)3/15/20248/28/2028— (11)(11)\n\nSecured Debt3/30/201814.00%8/28/202825,800 25,776 25,638 \n\nPreferred Member Units(8)7/31/20198,67115.00%15.00%12,569 12,569 \n\nPreferred Member Units(8)3/30/20188,72916,402 12,801 \n\n54,736 50,997 \n\nCBT Nuggets, LLCProduces and Sells IT Training Certification Videos\n\nMember Units(8)6/1/20064161,300 47,930 \n\nCentre Technologies Holdings, LLCProvider of IT Hardware Services and Software Solutions\n\nSecured Debt(9) (25)1/4/2019SF+8.00%1/4/2028— — — \n\nSecured Debt(9)11/29/202411.98%SF+8.00%1/4/202824,085 24,058 24,085 \n\nPreferred Member Units1/4/201913,8836,386 42,710 \n\n30,444 66,795 \n\nChamberlin Holding LLCRoofing and Waterproofing Specialty Contractor\n\nSecured Debt(9) (25)2/26/2018SF+6.00%2/26/2029— (39)— \n\nSecured Debt(9)2/26/201811.99%SF+8.00%2/26/202942,020 41,781 42,020 \n\nMember Units(8)2/26/20184,34711,440 35,530 \n\nMember Units(8) (29)11/2/20181,047,1461,773 4,170 \n\n54,955 81,720 \n\nCharps, LLCPipeline Maintenance and Construction\n\nUnsecured Debt8/26/202014.00%1/31/20305,694 5,267 5,694 \n\nPreferred Member Units(8)2/3/20171,8291,963 16,020 \n\n7,230 21,714 \n\nClad-Rex Steel, LLCSpecialty Manufacturer of Vinyl-Clad Metal\n\nSecured Debt(25)10/28/20227/31/2027— — — \n\nSecured Debt12/20/201610.00%7/31/20309,480 9,405 9,480 \n\nSecured Debt12/20/201610.00%12/20/2036929 922 929 \n\nMember Units(8)12/20/20167177,280 14,120 \n\nMember Units(29)12/20/2016800509 1,270 \n\n18,116 25,799 \n\nCody Pools, Inc.Designer of Residential and Commercial Pools\n\n37\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(25)3/6/202012/3/2030— (82)— \n\nSecured Debt3/6/202012.50%12/3/203034,901 34,336 34,901 \n\nPreferred Member Units(8) (29)3/6/20205878,317 65,060 \n\n42,571 99,961 \n\nColonial Electric Company LLCProvider of Electrical Contracting Services\n\nSecured Debt(25)3/31/20213/31/2028— — — \n\nSecured Debt3/31/20219.00%3/31/20288,779 8,773 8,779 \n\nPreferred Member Units(8)3/31/202117,2807,680 16,830 \n\n16,453 25,609 \n\nCompareNetworks Topco, LLCInternet Publishing and Web Search Portals\n\nSecured Debt1/29/201912.98%1/29/20284,037 4,031 4,031 \n\nPreferred Member Units1/29/20192,2503,520 7,650 \n\n7,551 11,681 \n\nCompass Systems & Sales, LLCDesigner of End-to-End Material Handling Solutions\n\nSecured Debt(25)11/22/202311/22/2028— (15)(15)\n\nSecured Debt11/22/202313.50%11/22/202817,200 17,100 16,961 \n\nPreferred Equity11/22/20237,4547,454 7,180 \n\n24,539 24,126 \n\nCopper Trail Fund Investments(12) (13)Investment Partnership\n\nLP Interests (CTMH, LP)(30)7/17/201738.75%390 390 \n\nCybermedia Technologies, LLCIT and Digital Services Provider\n\nSecured Debt(25)5/5/20235/5/2028— — — \n\nSecured Debt5/5/202313.00%5/5/202827,210 27,082 27,076 \n\nPreferred Member Units5/5/202355615,000 — \n\nPreferred Equity4/1/20252,400,0002,400 6,340 \n\n44,482 33,416 \n\nDatacom, LLCTechnology and Telecommunications Provider\n\nSecured Debt3/1/20227.50%12/31/2025675 675 675 \n\nSecured Debt3/31/202110.00%12/31/20257,812 7,812 4,169 \n\nPreferred Member Units3/31/20219,3602,970 — \n\n11,457 4,844 \n\nDigital Products Holdings LLCDesigner and Distributor of Consumer Electronics\n\nSecured Debt(9)4/1/201813.88%SF+10.00%4/27/202611,957 11,943 11,338 \n\nPreferred Member Units(8)4/1/20183,8579,501 9,835 \n\n21,444 21,173 \n\nDirect Marketing Solutions, Inc.Provider of Omni-Channel Direct Marketing Services\n\nSecured Debt2/13/201814.00%2/13/20261,785 1,783 1,785 \n\nSecured Debt12/27/202214.00%2/13/202623,082 23,079 23,082 \n\n38\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Stock2/13/20188,4008,400 19,760 \n\n33,262 44,627 \n\nDoral Holdings, LLCMachinery Moving, Rigging and Millwrighting Provider\n\nSecured Debt(25)5/20/20255/20/2030— — — \n\nSecured Debt5/20/202513.00%5/20/203026,500 26,270 26,270 \n\nPreferred Equity5/20/202513,00013,000 15,740 \n\n39,270 42,010 \n\nElgin AcquireCo, LLCManufacturer and Distributor of Engine and Chassis Components\n\nSecured Debt(9) (25)10/3/2022SF+6.00%10/3/2027— (3)(3)\n\nSecured Debt10/3/202212.00%10/3/202716,778 16,719 16,719 \n\nSecured Debt10/3/20229.00%10/3/20526,212 6,156 6,156 \n\nCommon Stock10/3/20222855,726 5,050 \n\nCommon Stock(29)10/3/20229391,558 3,270 \n\n30,156 31,192 \n\nFlame King Holdings, LLCPropane Tank and Accessories Distributor\n\nSecured Debt(25)6/30/20256/30/2030— — — \n\nSecured Debt6/30/202512.00%6/30/203066,000 65,415 66,000 \n\nPreferred Equity(8)10/29/20219,36010,400 54,630 \n\n75,815 120,630 \n\nGamber-Johnson Holdings, LLCManufacturer of Ruggedized Computer Mounting Systems\n\nSecured Debt(9) (25) (34)6/24/2016SF+7.50%1/1/2028— — — \n\nSecured Debt(9) (34)11/22/202411.38%SF+7.50%1/1/202870,526 70,436 70,526 \n\nMember Units(8)6/24/20169,04217,692 113,810 \n\nCommon Equity(29)12/15/2025532396 396 \n\n88,524 184,732 \n\nGarreco, LLCManufacturer and Supplier of Dental Products\n\nMember Units7/15/20131,2001,200 1,830 \n\nGRT Rubber Technologies LLCManufacturer of Engineered Rubber Products\n\nSecured Debt12/21/20189.98%SF+6.00%10/29/20263,146 3,143 3,146 \n\nSecured Debt12/19/201411.98%SF+8.00%10/29/202640,493 40,452 40,493 \n\nMember Units(8)12/19/20145,87913,065 46,360 \n\n56,660 89,999 \n\nHarris Preston Fund Investments(12) (13)Investment Partnership\n\nLP Interests (2717 MH, L.P.)(30)10/1/201749.26%1,158 1,795 \n\nLP Interests (2717 HPP-MS, L.P.)(30)3/11/202249.26%256 447 \n\n39\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nLP Interests (2717 GRE-LP, L.P.)(30)4/18/202443.05%441 441 \n\nLP Interests (423 COR, L.P.)(30)6/2/202226.89%2,900 5,244 \n\n4,755 7,927 \n\nHarrison Hydra-Gen, Ltd.Manufacturer of Hydraulic Generators\n\nCommon Stock(8)6/4/2010107,456718 7,080 \n\nIG Investor, LLCMilitary and Other Tactical Gear\n\nSecured Debt6/21/202313.00%6/21/20281,600 1,580 1,600 \n\nSecured Debt6/21/202313.00%6/21/202835,064 34,890 35,064 \n\nCommon Equity6/21/202314,40014,400 28,030 \n\n50,870 64,694 \n\nJensen Jewelers of Idaho, LLCRetail Jewelry Store\n\nSecured Debt(9) (25)8/29/2017P+6.75%11/14/2026— — — \n\nSecured Debt(9)11/14/200613.75%P+6.75%11/14/2026878 878 878 \n\nMember Units(8)11/14/2006627811 11,540 \n\n1,689 12,418 \n\nJorVet Holdings, LLCSupplier and Distributor of Veterinary Equipment and Supplies\n\nSecured Debt3/28/202212.00%3/28/202723,321 23,263 23,263 \n\nPreferred Equity(8)3/28/2022109,92610,993 10,990 \n\n34,256 34,253 \n\nJTI Electrical & Mechanical, LLC(10)Electrical, Mechanical and Automation Services\n\nSecured Debt(9)8/25/20259.13%SF+5.00%6/20/20306,316 6,316 6,316 \n\nSecured Debt(9)8/25/202510.13%SF+6.00%10.13%6/20/203036,513 36,513 36,429 \n\nSecured Debt(14)8/25/202515.00%15.00%6/20/203016,842 6,205 939 \n\nCommon Equity12/22/20211,684,2111,684 — \n\nCommon Equity8/25/2025842,000842 — \n\n51,560 43,684 \n\nKBK Industries, LLCManufacturer of Specialty Oilfield and Industrial Products\n\nSecured Debt2/24/20239.50%2/24/20287,200 7,166 7,200 \n\nMember Units(8)1/23/2006325783 18,180 \n\n7,949 25,380 \n\nKickhaefer Manufacturing Company, LLCPrecision Metal Parts Manufacturing\n\nSecured Debt10/31/201811.50%10/31/202610,199 10,195 10,195 \n\nSecured Debt10/31/20189.00%10/31/20483,910 3,878 3,878 \n\nPreferred Equity(8)10/31/201858112,240 17,180 \n\nMember Units(8) (29)10/31/2018800992 4,190 \n\n27,305 35,443 \n\nLegacy Swim GroupSwim Lessons Provider\n\nSecured Debt11/7/202513.00%11/7/203032,000 31,691 31,691 \n\n40\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Equity(8)11/7/202536614,996 14,996 \n\n46,687 46,687 \n\nMetalforming Holdings, LLCDistributor of Sheet Metal Folding and Metal Forming Equipment\n\nSecured Debt(17) (25)10/19/202210/19/2025— — — \n\nSecured Debt10/19/20228.75%10/19/202717,237 17,175 17,237 \n\nPreferred Equity(8)10/19/20225,915,5858.00%8.00%5,916 5,916 \n\nCommon Stock(8)10/19/20221,537,2191,537 9,770 \n\n24,628 32,923 \n\nMoffitt Holdings, LLCBulk Fuel and Lubricants Distributor\n\nSecured Debt3/19/202513.00%3/19/203034,125 33,840 33,840 \n\nPreferred Equity3/19/202514,30014,300 15,560 \n\n48,140 49,400 \n\nMS Private Loan Fund I, LP(12) (13)Investment Partnership\n\nSecured Debt(9)1/26/20216.88%SF+3.00%3/24/202612,000 12,000 12,000 \n\nLP Interests(8) (30)1/26/202114.51%15,000 14,697 \n\n27,000 26,697 \n\nMS Private Loan Fund II, LP(12) (13)Investment Partnership\n\nSecured Debt(9) (25)9/5/2023SF+3.00%3/5/2029— (84)(84)\n\nLP Interests(8) (30)9/5/202312.46%10,500 11,064 \n\n10,416 10,980 \n\nMSC Adviser I, LLC(16)Third Party Investment Advisory Services\n\nMember Units(8)11/22/2013100%29,500 255,020 \n\nMSC Income Fund, Inc.(12) (13)Business Development Company\n\nCommon Equity(8)5/2/20221,642,63525,082 21,412 \n\nMVI MSO, LLCVascular Practice Specializing in Comprehensive Vein and Artery Diagnosis and Treatment\n\nSecured Debt3/28/202513.00%3/28/20309,850 9,768 9,768 \n\nPreferred Equity(8)3/28/20252702,700 4,770 \n\n12,468 14,538 \n\nNAPCO Precast, LLCPrecast Concrete Manufacturing\n\nMember Units(8)1/31/20082,9554,145 14,480 \n\nMember Units(29)9/30/2025468— 568 \n\n4,145 15,048 \n\nNello Industries Investco, LLCManufacturer of Steel Poles and Towers For Critical Infrastructure\n\nSecured Debt6/4/202412.50%6/4/202932,072 31,867 32,072 \n\nPreferred Equity(8)6/4/2024336,80311,197 23,330 \n\n43,064 55,402 \n\nNexRev LLCProvider of Energy Efficiency Products & Services\n\n41\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nPreferred Member Units(8)2/28/2018103,144,1868,213 12,870 \n\nNRP Jones, LLCManufacturer of Hoses, Fittings and Assemblies\n\nSecured Debt(14)12/21/201712.00%9/18/20282,191 2,161 474 \n\nPreferred Equity12/8/2011495,000482 — \n\nMember Units12/22/201174,761114 — \n\nMember Units12/22/201174,7613,823 — \n\nCommon Equity(29)6/20/2025927,581928 928 \n\n7,508 1,402 \n\nNuStep, LLCDesigner, Manufacturer and Distributor of Fitness Equipment\n\nSecured Debt(9) (17)1/31/201710.48%SF+6.50%1/31/20251,000 1,000 1,000 \n\nSecured Debt(17)1/31/201712.00%1/31/202518,440 18,440 18,440 \n\nPreferred Member Units11/2/20222,4002,785 6,110 \n\nPreferred Member Units1/31/201748611,866 12,200 \n\n34,091 37,750 \n\nOMi Topco, LLCManufacturer of Overhead Cranes\n\nSecured Debt8/31/202112.00%12/31/202929,000 28,956 29,000 \n\nPreferred Member Units(8)4/1/20089001,080 77,900 \n\n30,036 106,900 \n\nOrttech Holdings, LLCDistributor of Industrial Clutches, Brakes and Other Components\n\nSecured Debt(9)7/30/202114.98%SF+11.00%7/31/2026612 612 612 \n\nSecured Debt(9)7/30/202114.98%SF+11.00%7/31/202620,760 20,736 20,760 \n\nPreferred Stock(29)7/30/202110,00010,000 13,450 \n\n31,348 34,822 \n\nPinnacle TopCo, LLCManufacturer and Distributor of Garbage Can Liners, Poly Bags, Produce Bags, and Other Similar Products\n\nSecured Debt(25)12/21/202312/21/2028— (9)— \n\nSecured Debt12/21/202313.00%12/21/202827,200 27,037 27,200 \n\nPreferred Equity(8)12/21/202344012,540 20,440 \n\n39,568 47,640 \n\nPPL RVs, Inc.Recreational Vehicle Dealer\n\nSecured Debt(9) (25)10/31/2019SF+8.75%11/15/2027— (3)— \n\nSecured Debt(9)11/15/201613.04%SF+8.75%11/15/202715,191 15,125 15,191 \n\nCommon Stock(8)6/10/20102,0002,150 17,330 \n\nCommon Stock(8) (29)6/14/2022238,421238 575 \n\n17,510 33,096 \n\nPrinciple Environmental, LLCNoise Abatement Service Provider\n\nSecured Debt7/1/201113.00%11/15/20264,897 4,880 4,897 \n\nPreferred Member Units(8)2/1/201121,8065,709 15,740 \n\nCommon Stock1/27/20211,0371,200 750 \n\n42\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n11,789 21,387 \n\nQuality Lease Service, LLCProvider of Rigsite Accommodation Unit Rentals and Related Services\n\nMember Units6/8/20151,0007,546 460 \n\nRiver Aggregates, LLCProcessor of Construction Aggregates\n\nMember Units(29)12/20/20131,500369 9,700 \n\nRobbins Bros. Jewelry, Inc.Bridal Jewelry Retailer\n\nSecured Debt(14) (25)12/15/202112/15/2026— (62)(62)\n\nSecured Debt(14)12/15/202112.50%10.00%12/15/202633,660 31,771 14,029 \n\nPreferred Equity12/15/202111,07011,070 — \n\n42,779 13,967 \n\nTedder Industries, LLCManufacturer of Firearm Holsters and Accessories\n\nSecured Debt(14) (17)8/31/201812.00%12.00%8/31/20231,203 861 962 \n\nSecured Debt(14) (17)8/31/201812.00%12.00%8/31/202315,200 15,045 2,827 \n\nPreferred Member Units8/28/20236,605661 — \n\nPreferred Member Units2/1/20235,643564 — \n\nPreferred Member Units8/31/20185449,245 — \n\n26,376 3,789 \n\nTeleverde, LLCProvider of Telemarketing and Data Services\n\nPreferred Stock1/26/2022248718 1,794 \n\nMember Units(8)1/6/20114601,290 4,822 \n\n2,008 6,616 \n\nTrantech Radiator Topco, LLCTransformer Cooling Products and Services\n\nSecured Debt(25)5/31/20195/31/2027— — — \n\nSecured Debt5/31/201913.50%5/31/20279,000 8,959 9,000 \n\nSecured Debt11/21/20259.00%5/31/20272,040 2,034 2,040 \n\nCommon Equity(29)11/21/2025723696 696 \n\nCommon Stock(8)5/31/20196154,655 14,920 \n\n16,344 26,656 \n\nTrinity Medical Holdings, LLCOrthopedic Healthcare Platform\n\nSecured Debt(25)10/8/202510/8/2030— — — \n\nSecured Debt10/8/202513.00%10/8/203058,500 57,944 57,944 \n\nPreferred Equity10/8/202522,50022,500 22,500 \n\n80,444 80,444 \n\nVictory Energy Operations, LLCProvider of Industrial and Commercial Combustion Systems\n\nSecured Debt10/3/202413.00%10/3/2029862 836 836 \n\nSecured Debt10/3/202413.00%10/3/202948,251 47,889 47,889 \n\nPreferred Equity10/3/202451,42122,471 23,380 \n\n43\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n71,196 72,105 \n\nVolusion, LLCProvider of Online Software-as-a-Service eCommerce Solutions\n\nSecured Debt(17)3/31/202310.00%3/31/20252,100 2,100 2,100 \n\nPreferred Member Units3/31/20235,097,5951,830 2,910 \n\nPreferred Member Units3/31/2023142,512— — \n\nPreferred Member Units1/26/20154,876,67014,000 — \n\nCommon Stock3/31/20231,802,7802,576 — \n\n20,506 5,010 \n\nVVS Holdco LLCOmnichannel Retailer of Animal Health Products\n\nSecured Debt(9) (25)12/1/2021SF+6.00%12/1/2026— — — \n\nSecured Debt12/1/202111.50%12/1/202624,000 23,956 23,956 \n\nPreferred Equity(8) (29)12/1/202112,24012,240 12,240 \n\n36,196 36,196 \n\nZiegler’s NYPD, LLCCasual Restaurant Group\n\nSecured Debt7/31/202512.00%12/31/2027150 150 150 \n\nSecured Debt12/30/202412.00%12/31/20271,750 1,750 1,687 \n\nPreferred Member Units6/30/201516,8783,154 50 \n\n5,054 1,887 \n\nSubtotal Control investments (85.8% of net assets at fair value)\n$1,824,132 $2,569,626 \n\nAffiliate Investments (6)\n\nAAC Holdings, Inc.(11)Substance Abuse Treatment Service Provider\n\nSecured Debt4/1/202520.00%20.00%11/24/2032$895 $895 $895 \n\nSecured Debt11/24/202521.00%21.00%11/24/2032513 503 503 \n\nSecured Debt(14)3/28/202520.00%20.00%11/24/20323,109 3,109 2,756 \n\nSecured Debt(14)3/28/202520.00%20.00%11/24/20323,109 3,109 2,756 \n\nPreferred Equity3/28/202512,621,6358,520 2,080 \n\nCommon Stock12/11/2020654,7433,148 — \n\n19,284 8,990 \n\nBoccella Precast Products LLCManufacturer of Precast Hollow Core Concrete\n\nSecured Debt9/23/202110.00%2/28/2027256 256 256 \n\nMember Units(8)6/30/20172,160,0002,256 2,820 \n\n2,512 3,076 \n\nBuca C, LLCCasual Restaurant Group\n\nSecured Debt(14) (17)8/7/202415.00%15.00%11/4/20248,380 6,282 — \n\nSecured Debt(14) (17)6/28/202415.00%15.00%4/1/202518 — — \n\nSecured Debt(14) (17)6/30/201515.00%15.00%8/31/202311,112 5,862 — \n\nPreferred Member Units6/30/201566.00%6.00%4,770 — \n\n16,914 — \n\nCareer Team Holdings, LLCProvider of Workforce Training and Career Development Services\n\n44\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9) (25)12/17/2021SF+6.00%6/5/2030— (45)(45)\n\nSecured Debt12/17/202113.00%6/5/203021,892 21,551 21,551 \n\nCommon Stock12/17/2021516,6175,166 5,370 \n\n26,672 26,876 \n\nCenterPeak Holdings, LLCExecutive Search Services\n\nSecured Debt12/10/202115.00%12/10/20261,800 1,794 1,800 \n\nSecured Debt12/10/202115.00%12/10/202625,107 25,103 25,107 \n\nPreferred Equity(8)12/10/20213,3103,635 24,340 \n\n30,532 51,247 \n\nCGMS Parent LLCCommercial Subcontractor Specializing in Concrete Flatwork\n\nSecured Debt(25)12/26/202512/26/2030— (39)(39)\n\nSecured Debt12/26/202513.00%12/26/203025,000 24,754 24,754 \n\nPreferred Equity12/26/20252,00010,000 10,000 \n\n34,715 34,715 \n\nClassic H&G Holdings, LLCProvider of Engineered Packaging Solutions\n\nPreferred Member Units3/12/2020154— 2,040 \n\nCongruent Credit Opportunities Funds(12) (13)Investment Partnership\n\nLP Interests (Congruent Credit Opportunities Fund III, LP)(8) (30)2/4/201512.49%308 24 \n\nConnect Telecommunications Solutions Holdings, Inc.(13) (21)Value-Added Distributor of Fiber Products and Equipment\n\nSecured Debt10/9/202413.00%10/9/202924,336 24,153 24,153 \n\nPreferred Equity10/9/202422,30412,596 12,596 \n\n36,749 36,749 \n\nDMA Industries, LLCDistributor of Aftermarket Ride Control Products\n\nSecured Debt6/18/202410.00%6/18/2029560 556 560 \n\nSecured Debt11/19/202110.00%6/18/202912,800 12,754 12,800 \n\nPreferred Equity11/19/20215,9445,944 9,174 \n\nPreferred Equity(8)6/18/20243,06815.00%15.00%3,754 5,424 \n\n23,008 27,958 \n\nDos Rios Partners(12) (13)Investment Partnership\n\nLP Interests (Dos Rios Partners, LP)(30)4/25/201320.24%6,032 8,027 \n\nLP Interests (Dos Rios Partners - A, LP)(30)4/25/20136.43%1,915 2,549 \n\n7,947 10,576 \n\nDos Rios Stone Products LLC(10)Limestone and Sandstone Dimension Cut Stone Mining Quarries\n\nClass A Preferred Units(29)6/27/20162,000,0002,000 — \n\n45\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nEIG Fund Investments(12) (13)Investment Partnership\n\nLP Interests (EIG Global Private Debt Fund-A, L.P.)(8)11/6/20155,000,00084 37 \n\nFCC Intermediate Holdco, LLCSupply Chain Management Services\n\nSecured Debt(25)5/28/20245/28/2029— — — \n\nSecured Debt5/28/202413.00%5/29/202931,160 28,448 31,160 \n\nWarrants(8) (27)5/28/2024125/28/20343,920 15,140 \n\n32,368 46,300 \n\nFreeport Financial Funds(12) (13)Investment Partnership\n\nLP Interests (Freeport Financial SBIC Fund LP)(30)3/23/20159.30%2,337 1,600 \n\nLP Interests (Freeport First Lien Loan Fund III LP)(30)7/31/20155.95%671 193 \n\n3,008 1,793 \n\nFRG AcquireCo, LLCTechnology Focused Risk Management Advisory Firm\n\nSecured Debt(25)9/22/20259/22/2028— (19)(19)\n\nSecured Debt9/22/202513.00%9/22/203010,500 10,402 10,402 \n\nPreferred Equity9/22/20253,5003,500 3,500 \n\n13,883 13,883 \n\nGFG Group, LLCGrower and Distributor of a Variety of Plants and Products to Other Wholesalers, Retailers and Garden Centers\n\nSecured Debt3/31/20218.00%3/31/202614,053 14,050 14,053 \n\nPreferred Member Units(8)3/31/20212264,900 10,940 \n\n18,950 24,993 \n\nGulf Manufacturing, LLC(13)(21)Manufacturer of Specialty Fabricated Industrial Piping Products\n\nSecured Debt(25)3/15/2024SF+8.13%3/15/2029— (32)(32)\n\nSecured Debt3/15/202412.01%SF+8.13%3/15/202937,700 36,784 36,784 \n\nMember Units(8)8/31/20074382,980 6,600 \n\nCommon Stock(8) (29)11/18/2024888888 1,450 \n\nPreferred Equity12/23/20252082,077 5,190 \n\n42,697 49,992 \n\nHarris Preston Fund Investments(12) (13)Investment Partnership\n\nLP Interests (HPEP 3, L.P.)(30)8/9/20178.22%1,549 4,116 \n\nLP Interests (HPEP 4, L.P.)(30)7/12/202211.61%6,409 7,463 \n\nLP Interests (423 HAR, L.P.)(8) (30)6/2/202315.60%750 1,226 \n\n8,708 12,805 \n\nHawk Ridge Systems, LLCValue-Added Reseller of Engineering Design and Manufacturing Solutions\n\n46\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9)12/2/20169.98%SF+6.00%1/15/20263,219 3,219 3,219 \n\nSecured Debt12/2/201611.00%1/15/202645,256 45,256 45,256 \n\nPreferred Member Units(8)12/2/20162262,850 26,310 \n\nPreferred Member Units(29)12/2/2016226150 1,380 \n\n51,475 76,165 \n\nHouston Plating and Coatings, LLCProvider of Plating and Industrial Coating Services\n\nUnsecured Convertible Debt5/1/201710.00%4/2/20263,000 3,000 3,000 \n\nMember Units(8)1/8/2003322,2972,352 3,720 \n\n5,352 6,720 \n\nIndependent Pet Partners Intermediate Holdings, LLC(10)Omnichannel Retailer of Specialty Pet Products\n\nCommon Equity4/7/202318,006,40718,300 19,000 \n\nInfinity X1 Holdings, LLCManufacturer and Supplier of Personal Lighting Products\n\nSecured Debt3/31/202312.00%3/31/202815,299 15,289 15,299 \n\nPreferred Equity(8)3/31/202387,3604,368 8,010 \n\n19,657 23,309 \n\nIntegral Energy Services(10)Nuclear Power Staffing Services\n\nSecured Debt(9)8/20/202111.75%SF+7.50%8/20/202612,273 12,240 12,042 \n\nPreferred Equity(8)12/7/20233,18810.00%10.00%281 420 \n\nPreferred Equity6/3/20253,07810.00%10.00%328 404 \n\nCommon Stock8/20/20219,9681,356 350 \n\n14,205 13,216 \n\nIron-Main Investments, LLCConsumer Reporting Agency Providing Employment Background Checks and Drug Testing\n\nSecured Debt8/2/202113.00%1/31/20284,514 4,500 4,500 \n\nSecured Debt9/1/202113.00%1/31/20282,940 2,931 2,931 \n\nSecured Debt11/15/202113.00%1/31/20288,944 8,944 8,944 \n\nSecured Debt11/15/202113.00%1/31/202817,624 17,569 17,569 \n\nSecured Debt1/31/202313.00%1/31/20289,554 9,421 9,421 \n\nPreferred Equity6/26/202471125.00%25.00%711 1,030 \n\nPreferred Equity9/26/202515525.00%25.00%155 155 \n\nCommon Stock8/3/2021203,0162,756 2,700 \n\n46,987 47,250 \n\nITA Holdings Group, LLCAir Ambulance Services\n\nSecured Debt(9)6/21/202311.15%SF+7.00%6/21/20271,180 1,172 1,180 \n\nSecured Debt(9)6/30/202511.15%SF+7.00%6/21/20275,310 5,295 5,310 \n\nSecured Debt(9)6/21/202311.15%SF+7.00%6/21/20274,935 4,535 4,935 \n\nSecured Debt(9)6/21/202311.15%SF+7.00%6/21/20274,935 4,535 4,935 \n\nSecured Debt(9)6/30/202511.15%SF+7.00%6/21/20271,770 1,765 1,770 \n\nWarrants(8) (27)6/21/2023193,3076/21/20332,091 15,230 \n\n19,393 33,360 \n\n47\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nKMS, LLC(10)Wholesaler of Closeout and Value-Priced Products\n\nSecured Debt(9) (25)12/29/2025SF+5.50%10/1/2028— (40)(40)\n\nSecured Debt2/10/202512.50%10/1/20281,171 1,146 1,146 \n\nSecured Debt2/10/202512.50%10/1/20281,007 1,007 1,007 \n\nPreferred Equity2/10/20259,2134,890 6,270 \n\n7,003 8,383 \n\nMills Fleet Farm Group, LLC(10)Omnichannel Retailer of Work, Farm and Lifestyle Merchandise\n\nSecured Debt(9)12/19/20249.81%SF+5.50%9.81%1/28/20312,903 2,903 2,796 \n\nSecured Debt(9) (26)4/11/20259.32%SF+5.50%9.32%1/28/20311,729 1,729 1,664 \n\nPreferred Equity(8) (29)12/19/202466,30614,946 12,557 \n\n19,578 17,017 \n\nMoneyThumb Acquisition, LLCProvider of Software-as-a-Service Financial File Conversion and Reconciliation\n\nSecured Debt8/19/202414.00%8/19/20298,160 7,696 7,696 \n\nPreferred Member Units(8)8/19/2024163,28212.00%12.00%1,924 2,112 \n\nWarrants(27)8/19/202459,3688/19/2029594 800 \n\n10,214 10,608 \n\nNearshore AcquireCo, LLCProvider of Outsourcing Services\n\nSecured Debt(25)11/12/202511/12/2030— (24)(24)\n\nSecured Debt(25)11/12/202511/12/2030— (61)(61)\n\nSecured Debt11/12/202513.00%11/12/203021,900 21,688 21,688 \n\nPreferred Equity11/12/202510,520,0005,260 5,260 \n\n26,863 26,863 \n\nOnAsset Intelligence, Inc.Provider of Transportation Monitoring / Tracking Products and Services\n\nSecured Debt(14)4/18/201112.00%12.00%3/31/20264,415 4,415 645 \n\nSecured Debt(14)5/10/201312.00%12.00%3/31/20262,116 2,116 309 \n\nSecured Debt(14)3/21/201412.00%12.00%3/31/2026983 983 144 \n\nSecured Debt(14)5/20/201412.00%12.00%3/31/2026964 964 141 \n\nUnsecured Debt(14)6/5/201710.00%10.00%3/31/2026305 305 — \n\nPreferred Stock4/18/20119127.00%7.00%1,981 — \n\nCommon Stock4/15/2021635830 — \n\nWarrants(27)4/18/20114,6995/10/20271,089 — \n\n12,683 1,239 \n\nOneliance, LLCConstruction Cleaning Company\n\nPreferred Stock(8)8/6/20211,1281,128 3,270 \n\nRA Outdoors LLC(10)Software Solutions Provider for Outdoor Activity Management\n\nSecured Debt(9)4/8/202110.89%SF+6.75%10.89%6/30/20271,434 1,433 1,182 \n\nSecured Debt(9) (25)2/5/2025SF+6.75%6/30/2027— — — \n\nSecured Debt(9)4/8/202110.89%SF+6.75%10.89%6/30/202714,991 14,981 12,355 \n\n48\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9) (25)7/17/2025SF+6.75%6/30/2027— — — \n\nCommon Equity8/12/2024110— — \n\n16,414 13,537 \n\nRevenue Recovery Holdings, LLCThird Party Tax Collection Services\n\nSecured Debt(25)7/25/20257/25/2030— (18)(18)\n\nSecured Debt7/25/202513.00%7/25/20306,700 6,640 6,640 \n\nPreferred Equity7/25/2025104,9041,049 1,049 \n\n7,671 7,671 \n\nRFG AcquireCo, LLCAerial Survey, Aerial Survey Equipment Sales & Rental, Aircraft Maintenance\n\nSecured Debt(25)6/2/20256/2/2027— (7)(7)\n\nSecured Debt6/2/202512.50%6/2/20308,000 7,932 7,932 \n\nSecured Debt6/2/202512.50%6/2/203034,000 33,700 33,700 \n\nPreferred Equity6/2/202511,40111,401 12,771 \n\n53,026 54,396 \n\nSI East, LLCRigid Industrial Packaging Manufacturing\n\nSecured Debt8/31/201811.80%6/16/20282,250 2,239 2,250 \n\nSecured Debt(23)6/16/202312.85%6/16/202866,850 66,769 66,850 \n\nPreferred Member Units(8)8/31/20181651,525 17,190 \n\n70,533 86,290 \n\nSlick Innovations, LLCText Message Marketing Platform\n\nSecured Debt9/13/201814.00%3/21/203024,680 24,451 24,680 \n\nCommon Stock(8)9/13/201870,000— 2,160 \n\n24,451 26,840 \n\nSpecialized Aviation Holdings, LLCDistributor and Service and Maintenance Provider for Specialty Aircraft\n\nSecured Debt8/29/202513.00%8/29/203028,625 28,362 28,362 \n\nPreferred Stock8/29/202525,00015,000 15,000 \n\n43,362 43,362 \n\nStudent Resource Center, LLC(10)Higher Education Services\n\nSecured Debt9/11/20248.50%8.50%12/31/2027222 222 780 \n\nSecured Debt(14)12/31/20228.50%8.50%12/31/20275,327 4,884 1,438 \n\nPreferred Equity12/31/20225,907,649— — \n\n5,106 2,218 \n\nSuperior Rigging & Erecting Co.Provider of Steel Erecting, Crane Rental & Rigging Services\n\nPreferred Member Units8/31/20201,6364,500 17,500 \n\nThe Affiliati Network, LLCPerformance Marketing Solutions\n\nPreferred Stock9/1/2023312,910313 313 \n\nPreferred Stock(8)8/9/20211,280,0006,400 6,400 \n\n6,713 6,713 \n\n49\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nUnionRock Energy Fund II, LP(12) (13)Investment Partnership\n\nLP Interests(30)6/15/202011.11%2,612 4,164 \n\nUnionRock Energy Fund III, LP(12) (13)Investment Partnership\n\nLP Interests(8) (30)6/6/202314.91%4,592 5,165 \n\nUniTek Global Services, Inc.(11)Provider of Outsourced Infrastructure Services\n\nPreferred Stock8/21/201811,450,41620.00%20.00%8,416 9,388 \n\nPreferred Stock6/30/201721,382,14719.00%19.00%3,667 — \n\nPreferred Stock1/15/201542,338,44013.50%13.50%7,924 — \n\nCommon Stock4/1/20202,370,059— — \n\n20,007 9,388 \n\nUrgent DSO LLCGeneral and Emergency Dentistry Practice\n\nSecured Debt2/16/202413.50%2/16/20298,800 8,743 8,672 \n\nPreferred Equity(8)2/16/20244,0004,614 4,356 \n\n13,357 13,028 \n\nWildcats Topco LLCProvider of Veterinary Services and Products\n\nCommon Equity5/8/202522,426,71122,427 22,760 \n\nWorld Micro Holdings, LLCSupply Chain Management\n\nSecured Debt12/12/202212.00%12/12/20279,886 9,848 9,848 \n\nPreferred Equity(8)12/12/20223,8453,845 3,845 \n\n13,693 13,693 \n\nSubtotal Affiliate investments (32.2% of net assets at fair value)\n$881,641 $965,179 \n\nNon-Control/Non-Affiliate Investments (7)\n\nAdams Publishing Group, LLC(10)Local Newspaper Operator\n\nSecured Debt(9) (33)3/11/202211.00%SF+7.00%1.00%3/11/2027$8,000 $8,000 $7,965 \n\nSecured Debt(9) (33)11/26/202511.00%SF+7.00%1.00%3/11/2027789 775 775 \n\nSecured Debt(9) (33)3/11/202211.00%SF+7.00%1.00%3/11/202716,473 16,459 16,402 \n\n25,234 25,142 \n\nAGS American Glass Services Acquisition, LLC(10)Provider of Custom Glass Fabrication & Installation and Specialty Coating Solutions\n\nSecured Debt(9) (25)7/24/2025SF+5.50%7/24/2031— (35)(35)\n\nSecured Debt(9) (25)7/24/2025SF+5.50%7/24/2031— (20)(20)\n\nSecured Debt(9)7/24/20259.22%SF+5.50%7/24/203110,042 9,904 9,800 \n\nPreferred Equity7/24/20257,292729 729 \n\n10,578 10,474 \n\n50\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nAiro Purchaser, Inc.(10)Provider of HVAC and Plumbing Installation Services\n\nSecured Debt(9) (25)8/1/2025SF+5.25%8/1/2030— (63)(63)\n\nSecured Debt(9) (25)8/1/2025SF+5.25%8/1/2030— (32)(32)\n\nSecured Debt(9)8/1/20259.22%SF+5.25%8/1/203027,595 27,152 27,269 \n\nCommon Equity8/1/20251,5211,521 1,521 \n\n28,578 28,695 \n\nAMEREQUIP LLC(10)Full Services Provider Including Design, Engineering and Manufacturing of Commercial and Agricultural Equipment\n\nCommon Stock(8)8/31/20222351,844 — \n\nAmerican Health Staffing Group, Inc.(10)Healthcare Temporary Staffing\n\nSecured Debt(9) (25)11/19/2021P+5.00%11/19/2026— (2)(2)\n\nSecured Debt(9)11/19/202111.75%P+5.00%11/19/20265,600 5,589 5,600 \n\n5,587 5,598 \n\nArborWorks, LLC(10)Vegetation Management Services\n\nSecured Debt11/6/202315.00%15.00%11/6/20284,177 4,177 4,177 \n\nSecured Debt(9)11/6/202310.34%SF+6.50%10.34%11/6/20288,985 8,985 8,985 \n\nPreferred Equity11/6/202332,50714,060 16,659 \n\nPreferred Equity11/6/202332,507— — \n\nCommon Equity11/9/20213,898234 — \n\n27,456 29,821 \n\nArcher Systems, LLC(10)Mass Tort Settlement Administration Solutions Provider\n\nCommon Stock(8)8/11/20221,387,8321,388 2,450 \n\nATS Operating, LLC(10)For-Profit Thrift Retailer\n\nSecured Debt(9) (32)1/18/202210.22%SF+6.00%1/18/20281,800 1,737 1,800 \n\nSecured Debt(9)1/18/20229.25%SF+5.00%1/18/20286,660 6,660 6,660 \n\nSecured Debt(9)1/18/202211.25%SF+7.00%1/18/20286,660 6,660 6,660 \n\nCommon Stock1/18/2022720,000720 970 \n\n15,777 16,090 \n\nAuria Space, LLC(10)Provider of Satellite Operations and Command Software for Defense and Intelligence Platforms\n\nSecured Debt(9) (25)12/31/2025SF+5.00%12/31/2030— (168)(168)\n\nSecured Debt(9) (25)12/31/2025SF+5.00%12/31/2030— (299)(299)\n\nSecured Debt(9)12/31/20258.72%SF+5.00%12/31/203057,004 56,163 56,163 \n\n55,696 55,696 \n\nAVEX Aviation Holdings, LLC(10)Specialty Aircraft Dealer & MRO Provider\n\nSecured Debt(9) (25)12/23/2022SF+7.25%12/23/2027— (63)(63)\n\n51\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9)12/23/202211.09%SF+7.25%12/23/202723,451 23,046 23,451 \n\nSecured Debt(9) (25)12/18/2025SF+7.25%12/23/2027— (38)(38)\n\nCommon Equity(8)12/15/2021984934 920 \n\n23,879 24,270 \n\nBehavior Development Group Holdings(10)Applied Behavior Analysis Therapy Provider\n\nSecured Debt(9) (25)12/17/2025SF+6.00%12/17/2030— (22)(22)\n\nSecured Debt(9)12/17/20259.70%SF+6.00%12/17/20309,596 9,454 9,454 \n\nCommon Equity12/17/2025300300 300 \n\n9,732 9,732 \n\nBerry Aviation, Inc.(10)Charter Airline Services\n\nPreferred Member Units(29)3/8/2024286,109286 — \n\nPreferred Member Units(29)11/12/2019122,416— — \n\nPreferred Member Units(29)7/6/20181,548,387— — \n\n286 — \n\nBluestem Brands, Inc.(11)Multi-Channel Retailer of General Merchandise\n\nSecured Debt(9) (14)1/9/202412.49%SF+8.50%11.49%1/31/2026202 129 239 \n\nSecured Debt(9) (14)10/19/202214.25%P+7.50%13.25%1/31/20262,780 2,780 182 \n\nSecured Debt(9) (14)8/28/202012.49%SF+8.50%11.49%1/31/20264,183 3,961 — \n\nCommon Stock10/1/2020723,1841 — \n\nWarrants(27)10/19/2022163,29510/19/20321,036 — \n\n7,907 421 \n\nB-O-F Corporation(10)Manufacturer of Gravity Flow Shelving Solutions for Retail Applications\n\nSecured Debt(9) (25)2/3/2025SF+5.75%2/3/2030— (17)(17)\n\nSecured Debt(9)2/3/20258.74%SF+4.75%2/3/20303,938 3,882 3,912 \n\nSecured Debt(9)2/3/202510.74%SF+6.75%2/3/20303,938 3,882 3,912 \n\nCommon Equity2/3/2025248,718249 249 \n\n7,996 8,056 \n\nBond Brand Loyalty ULC(10) (13) (21)Provider of Loyalty Marketing Services\n\nSecured Debt(9)5/1/20239.89%SF+5.75%5/1/2028571 557 571 \n\nSecured Debt(9)10/31/20259.59%SF+5.75%5/1/20281,396 1,369 1,396 \n\nSecured Debt(9)5/1/20238.89%SF+4.75%5/1/20286,277 6,218 6,277 \n\nSecured Debt(9)5/1/202310.89%SF+6.75%5/1/20286,277 6,218 6,277 \n\nPreferred Equity5/1/2023571571 550 \n\nCommon Equity5/1/2023571— — \n\n14,933 15,071 \n\nBP Loenbro Holdings Inc.(10)Specialty Industrial Maintenance Services\n\nSecured Debt(9) (32)2/1/20249.75%SF+5.75%2/1/20293,946 3,819 3,946 \n\nSecured Debt(9)2/1/20249.84%SF+5.75%2/1/20292,984 2,927 2,984 \n\nSecured Debt(9)2/1/20249.75%SF+5.75%2/1/202925,673 25,349 25,673 \n\nSecured Debt(9)1/2/20259.83%SF+5.75%2/1/20299,410 9,303 9,410 \n\n52\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9)7/1/20259.84%SF+5.75%2/1/202914,899 14,643 14,899 \n\nCommon Equity2/1/20242,583,9632,709 9,910 \n\n58,750 66,822 \n\nBrainworks Software, LLC(10)Advertising Sales and Newspaper Circulation Software\n\nSecured Debt(9) (14) (17)8/12/201414.75%P+7.25%7/22/2019761 761 — \n\nSecured Debt(9) (14) (17)8/12/201414.75%P+7.25%7/22/20197,056 7,056 — \n\n7,817 — \n\nBrightwood Capital Fund Investments(12) (13)Investment Partnership\n\nLP Interests (Brightwood Capital Fund III, LP)(30)7/21/20141.59%4,983 2,692 \n\nLP Interests (Brightwood Capital Fund IV, LP)(8) (30)10/26/20160.59%3,202 3,224 \n\nLP Interests (Brightwood Capital Fund V, LP)(8) (30)7/12/20210.72%4,900 5,146 \n\n13,085 11,062 \n\nCaseWorthy, Inc.(10)SaaS Provider of Case Management Solutions\n\nCommon Equity12/30/2022325,408325 710 \n\nChannel Partners Intermediateco, LLC(10)Outsourced Consumer Services Provider\n\nSecured Debt(9) (32)2/7/202210.84%SF+6.75%2/7/20277,250 7,146 7,250 \n\nSecured Debt(9)2/7/202210.84%SF+6.75%2/7/202735,794 35,634 35,794 \n\nSecured Debt(9)6/24/202210.84%SF+6.75%2/7/20271,983 1,974 1,983 \n\nSecured Debt(9)3/27/202310.84%SF+6.75%2/7/20274,793 4,758 4,793 \n\n49,512 49,820 \n\nClarius BIGS, LLC(10)Prints & Advertising Film Financing\n\nSecured Debt(14) (17)9/23/20141/5/20152,628 2,628 8 \n\nComputer Data Source, LLC(10)Third Party Maintenance Provider to the Data Center Ecosystem\n\nSecured Debt(9) (32)8/6/202112.28%SF+8.25%12.02%8/6/20268,830 8,800 8,393 \n\nSecured Debt(9)8/6/202112.02%SF+8.25%12.02%8/6/202621,410 21,367 20,352 \n\n30,167 28,745 \n\nCore Transformers(10)Refurbisher and Distributor of Electric Transformers\n\nSecured Debt(9) (25)9/24/2025SF+5.50%9/23/2031— (59)(59)\n\nSecured Debt(9) (25)9/24/2025SF+5.50%9/23/2031— (59)(59)\n\nSecured Debt(9)9/24/20259.23%SF+5.50%9/23/20316,269 6,151 6,151 \n\nCommon Equity9/24/2025626,923627 627 \n\n6,660 6,660 \n\nCoregistics Buyer LLC(10) (13) (21)Contract Packaging Service Provider\n\nSecured Debt(9)6/29/202410.32%SF+6.50%6/28/20291,669 1,608 1,656 \n\n53\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9)6/29/202410.34%SF+6.50%6/28/202910,570 10,391 10,484 \n\nSecured Debt(9)6/29/202410.59%SF+6.75%6/28/202931,790 31,236 31,678 \n\nSecured Debt(9)8/15/202410.37%SF+6.50%6/28/20297,047 6,945 6,989 \n\n50,180 50,807 \n\nCQ Fluency, LLC(10)Global Language Services Provider\n\nSecured Debt(9) (25)12/27/2023SF+6.75%6/27/2027— (28)(28)\n\nSecured Debt(9)12/27/202310.52%SF+6.75%6/27/202710,266 10,133 10,266 \n\n10,105 10,238 \n\nCRC 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\n\nSecured Debt(9) (32)8/19/202210.87%SF+6.75%6/30/20296,838 6,676 6,838 \n\nSecured Debt(25)12/31/2025SF+6.75%6/30/2029— (280)(280)\n\nSecured Debt(9)12/31/202510.70%SF+6.75%6/30/20299,542 9,355 9,355 \n\nSecured Debt(9)8/19/202210.83%SF+6.75%6/30/202914,949 14,614 14,949 \n\n30,365 30,862 \n\nCreative Foam Corporation(10)Manufacturer of Custom Engineered Die Cut, Formed Foam, Nonwoven, and Multi-material Component Solutions for the Automotive and Healthcare Markets\n\nSecured Debt(9) (25)6/27/2024SF+6.75%6/27/2029— (184)(184)\n\nSecured Debt(9)3/4/202510.69%SF+6.75%6/27/20295,531 5,435 5,531 \n\nSecured Debt(9)6/27/202410.44%SF+6.75%6/27/202988,683 87,428 88,683 \n\nCommon Equity3/4/202510,8511,085 860 \n\n93,764 94,890 \n\nDalton US Inc.(10)Provider of Supplemental Labor Services\n\nCommon Stock8/16/2022515720 650 \n\nDTE Enterprises, LLC(10)Industrial Powertrain Repair and Services\n\nClass AA Preferred Member Units (non-voting)4/13/201810.00%10.00%1,316 — \n\nClass A Preferred Member Units4/13/2018776,3168.00%8.00%776 — \n\n2,092 — \n\nDynamic Communities, LLC(10)Developer of Business Events and Online Community Groups\n\nSecured Debt(9)12/20/202211.82%SF+8.00%11.82%12/31/20262,612 2,507 2,612 \n\nSecured Debt(9)12/20/202212.82%SF+9.00%12/31/20262,493 2,259 2,463 \n\nPreferred Equity12/20/2022125,000128 110 \n\nPreferred Equity12/20/20222,376,241— — \n\nCommon Equity12/20/20221,250,000— — \n\n54\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n4,894 5,185 \n\nElectro Technical Industries, LLC(10)Manufacturer of Mission-Critical Electrical Distribution Systems\n\nSecured Debt(9) (25)3/31/2025SF+5.50%3/31/2030— (149)(149)\n\nSecured Debt(9)3/31/20259.22%SF+5.50%3/31/203050,156 49,312 50,156 \n\nCommon Equity3/31/20251,464,2861,464 2,220 \n\n50,627 52,227 \n\nEmerald Technologies Acquisition Co, Inc.(11)Design & Manufacturing\n\nSecured Debt(9)2/10/202210.22%SF+6.25%12/29/20279,330 9,229 5,878 \n\nEnCap Energy Fund Investments(12) (13)Investment Partnership\n\nLP Interests (EnCap Energy Capital Fund VIII, L.P.)(8) (30)1/22/20150.14%2,613 130 \n\nLP Interests (EnCap Energy Capital Fund VIII Co-\nInvestors, L.P.)(8) (30)1/21/20150.38%1,394 5 \n\nLP Interests (EnCap Energy Capital Fund IX, L.P.)(8) (30)1/22/20150.10%3,187 1,056 \n\nLP Interests (EnCap Energy Capital Fund X, L.P.)(8) (30)3/25/20150.15%6,975 4,674 \n\nLP Interests (EnCap Energy Capital Fund XII, L.P.)(8) (30)8/31/20230.19%7,370 7,731 \n\nLP Interests (EnCap Flatrock Midstream Fund II, L.P.)(8) (30)3/30/20150.84%3,799 15 \n\nLP Interests (EnCap Flatrock Midstream Fund III, L.P.)(8) (30)3/27/20150.25%3,371 1,947 \n\n28,709 15,558 \n\nEscalent, Inc.(10)Market Research and Consulting Firm\n\nSecured Debt(9) (25)4/7/2023SF+6.00%4/7/2029— (22)— \n\nSecured Debt(9)10/2/20249.67%SF+6.00%4/7/20291,354 1,337 1,354 \n\nSecured Debt(9)4/7/20239.67%SF+6.00%4/7/202925,517 25,094 25,517 \n\nCommon Equity4/7/2023649,794663 910 \n\n27,072 27,781 \n\nEvent Holdco, LLC(10)Event and Learning Management Software for Healthcare Organizations and Systems\n\nSecured Debt(9)12/22/202110.93%SF+7.00%12/22/20263,692 3,685 3,692 \n\nSecured Debt(9)12/22/202110.93%SF+7.00%12/22/202648,035 47,948 48,035 \n\n51,633 51,727 \n\nEWMW LP(12) (13)Investment Partnership\n\nSecured Debt12/23/20259.87%SF+6.00%3,144 3,144 3,144 \n\nFuse, LLC(11)Cable Networks Operator\n\n55\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt6/30/201912.00%12/31/20281,810 1,810 323 \n\nCommon Stock6/30/201910,429256 — \n\n2,066 323 \n\nGaryline, LLC(10)Manufacturer of Consumer Plastic Products\n\nSecured Debt(9) (25)4/14/2025SF+7.25%10/14/2027— (71)— \n\nSecured Debt(9)4/14/202510.98%SF+7.25%10/14/202728,606 28,203 28,606 \n\nCommon Equity11/10/2023705,882706 450 \n\n28,838 29,056 \n\nGradeEight Corp.(10)Distributor of Maintenance and Repair Parts\n\nSecured Debt(9)10/4/202411.23%SF+7.50%10/4/2029853 778 834 \n\nSecured Debt(9)10/4/202411.23%SF+7.50%10/4/20294,176 4,090 4,090 \n\nSecured Debt(9) (26)10/4/202411.31%SF+7.25%10/4/202930,813 30,347 30,135 \n\nCommon Equity10/4/20241,6531,634 1,229 \n\n36,849 36,288 \n\nGS HVAM Intermediate, LLC(10)Specialized Food Distributor\n\nSecured Debt(9) (32)10/18/201910.48%SF+6.50%11/30/20266,061 6,042 6,061 \n\nSecured Debt(9)10/18/201910.47%SF+6.50%11/30/202610,392 10,342 10,392 \n\nSecured Debt(9)9/15/202310.47%SF+6.50%11/30/2026932 928 932 \n\nSecured Debt(9)12/22/202310.47%SF+6.50%11/30/2026223 222 223 \n\nSecured Debt(9)8/22/202410.47%SF+6.50%11/30/20266,011 5,981 6,011 \n\n23,515 23,619 \n\nGULF PACIFIC ACQUISITION, LLC(10)Rice Processor and Merchandiser\n\nSecured Debt(9) (32)9/30/202210.82%SF+7.00%9/30/2028454 444 420 \n\nSecured Debt(9)9/30/202210.83%SF+7.00%9/30/2028295 286 273 \n\nSecured Debt(9)9/30/202210.82%SF+7.00%9/30/20283,542 3,502 3,266 \n\n4,232 3,959 \n\nHarris Preston Fund Investments(12) (13)Investment Partnership\n\nLP Interests (423 AER II, LP)(30)6/2/20254.13%1,590 1,590 \n\nHDC/HW Intermediate Holdings(10)Managed Services and Hosting Provider\n\nSecured Debt(9) (14)3/7/20249.01%SF+3.50%2.50%6/21/20262,607 2,557 2,272 \n\nSecured Debt(14)3/7/20242.50%2.50%6/21/20261,626 713 — \n\nCommon Equity3/7/202464,029— — \n\n3,270 2,272 \n\nHornblower Sub, LLC(10)Marine Tourism and Transportation\n\nSecured Debt(9) (32)7/3/20249.32%SF+5.50%1.50%7/3/20294,752 4,718 4,697 \n\nSecured Debt(9)7/3/20249.46%SF+5.50%1.50%7/3/202932,599 32,353 32,163 \n\n37,071 36,860 \n\n56\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nHOWLCO LLC(11) (13) (21)Provider of Accounting and Business Development Software to Real Estate End Markets\n\nSecured Debt(9)8/19/202110.51%SF+6.50%3.50%10/23/202727,185 27,185 26,616 \n\nHybrid Promotions, LLC(10)Wholesaler of Licensed, Branded and Private Label Apparel\n\nSecured Debt(9)6/30/202112.24%SF+8.25%12/31/20277,200 7,115 7,200 \n\nIG Parent Corporation(11)Software Engineering\n\nSecured Debt(9) (25)7/30/2021SF+5.75%7/30/2028— (8)— \n\nSecured Debt(9)7/30/20219.57%SF+5.75%7/30/202810,127 10,070 10,127 \n\nSecured Debt(9)7/30/20219.57%SF+5.75%7/30/20284,853 4,822 4,853 \n\n14,884 14,980 \n\nIgnite Visibility LLC(10)Digital Marketing Services Agency\n\nSecured Debt(9)12/15/20258.84%SF+5.00%12/1/20284,759 4,689 4,689 \n\nSecured Debt(9)12/15/202510.84%SF+7.00%12/1/20284,759 4,689 4,689 \n\n9,378 9,378 \n\nImaging Business Machines, L.L.C.(10)Technology Hardware & Equipment\n\nCommon Equity6/8/20238491,166 1,090 \n\nImplus Footcare, LLC(10)Provider of Footwear and Related Accessories\n\nSecured Debt(9)6/13/20259.68%SF+6.00%4.00%10/30/20281,944 1,944 1,944 \n\nSecured Debt(9)7/31/20259.68%SF+6.00%9.68%10/30/20284,425 4,425 4,425 \n\nCommon Equity7/31/20254,238,9175,680 4,910 \n\n12,049 11,279 \n\nInsight Borrower Corporation(10)Test, Inspection, and Certification Instrument Provider\n\nSecured Debt(9) (32)7/19/202310.10%SF+6.25%7/19/20281,441 1,401 1,341 \n\nSecured Debt(9)7/19/202310.12%SF+6.25%7/19/202914,118 13,865 13,140 \n\nCommon Equity7/19/2023131,100656 270 \n\n15,922 14,751 \n\nInspire Aesthetics Management, LLC(10)Surgical and Non-Surgical Plastic Surgery and Aesthetics Provider\n\nSecured Debt(9)4/3/202313.97%SF+10.00%2.00%4/3/2028857 846 808 \n\nSecured Debt(9)4/3/202313.97%SF+10.00%2.00%4/3/20287,307 7,224 6,889 \n\nSecured Debt(9)6/14/202313.97%SF+10.00%2.00%4/3/20282,941 2,910 2,773 \n\nSecured Debt(9)12/31/202413.97%SF+10.00%2.00%4/3/2028339 339 320 \n\nCommon Equity4/3/2023177,594463 97 \n\n11,782 10,887 \n\nInterface Security Systems, L.L.C(10)Commercial Security & Alarm Services\n\nSecured Debt(17) (32)12/9/202113.92%SF+10.00%13.92%8/7/20232,392 2,392 2,077 \n\n57\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9) (14) (17)8/7/201911.02%SF+7.00%11.02%8/7/20237,313 7,237 1 \n\nCommon Stock12/7/20212,143— — \n\n9,629 2,078 \n\nInvincible Boat Company, LLC.(10)Manufacturer of Sport Fishing Boats\n\nSecured Debt(9)8/28/201911.37%SF+7.50%3/31/20281,452 1,445 1,319 \n\nSecured Debt(9) (26)8/28/201911.37%SF+7.50%3.37%3/31/202816,805 16,764 15,247 \n\n18,209 16,566 \n\nIsagenix International, LLC(11)Direct Marketer of Health & Wellness Products\n\nSecured Debt(9) (35)4/13/20232.50%4/14/20283,159 3,016 458 \n\nCommon Equity4/13/2023198,743— — \n\n3,016 458 \n\nIsland Pump and Tank, LLC(10)Provider of Facility and Maintenance Services to Fuel Retailers in Northeast U.S.\n\nSecured Debt(9)5/20/202411.25%SF+7.00%5/17/2029456 452 443 \n\nSecured Debt(9)5/20/202410.25%SF+6.00%5/17/20292,111 2,084 2,048 \n\nSecured Debt(9)5/20/202411.25%SF+7.00%5/17/20292,111 2,084 2,048 \n\nSecured Debt(9)5/20/202412.25%SF+8.00%5/17/20292,111 2,084 2,048 \n\n6,704 6,587 \n\nJackmont Hospitality, Inc.(10)Franchisee of Casual Dining Restaurants\n\nSecured Debt(9) (26)10/26/202211.01%SF+7.00%11/4/2026751 747 751 \n\nSecured Debt(9) (26)2/27/202411.23%SF+7.00%11/4/2026625 622 625 \n\nSecured Debt(9) (26)11/1/202411.11%SF+7.00%11/4/2026667 658 667 \n\nSecured Debt(9)11/8/202110.84%SF+7.00%11/4/20261,738 1,728 1,738 \n\nPreferred Equity11/8/20212,826,667110 750 \n\n3,865 4,531 \n\nJoerns Healthcare, LLC(11)Manufacturer and Distributor of Health Care Equipment & Supplies\n\nSecured Debt(9)3/30/202411.94%SF+8.00%3/29/20291,833 1,833 1,833 \n\nSecured Debt(9)3/30/202411.94%SF+8.00%3/29/20291,369 1,369 1,369 \n\nCommon Stock3/29/20245,461,019200 350 \n\n3,402 3,552 \n\nLKCM Headwater Investments I, L.P.(12) (13)Investment Partnership\n\nLP Interests(8) (30)1/25/20132.27%— 792 \n\nLLFlex, LLC(10)Provider of Metal-Based Laminates\n\nSecured Debt(9)8/16/202112.14%SF+8.00%3.00%8/16/20264,226 4,207 3,328 \n\nLogix Acquisition Company, LLC(10)Competitive Local Exchange Carrier\n\nSecured Debt(9)4/11/202511.41%SF+7.50%2.75%12/31/202844,135 43,451 44,135 \n\nSecured Debt4/11/202512/31/20282,963 2,287 2,204 \n\n58\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n45,738 46,339 \n\nLooking Glass Investments, LLC(12) (13)Specialty Consumer Finance\n\nMember Units7/1/20153125 25 \n\nMCT Purchaserco Holding Inc.(10) (13) (21)Manufacturer and Distributor of High-Voltage Disconnect Switches\n\nSecured Debt(9)12/1/20259.36%SF+5.50%12/2/20306,097 5,985 5,985 \n\nSecured Debt(9)12/1/20259.29%SF+5.50%12/2/203039,755 39,364 39,364 \n\nCommon Equity12/1/20251,590,2871,139 1,139 \n\n46,488 46,488 \n\nMicrobe Formulas, LLC(10)Nutritional Supplements Provider\n\nSecured Debt(9) (25)4/4/2022SF+5.50%4/3/2028— (27)(27)\n\nSecured Debt(9)11/20/20249.32%SF+5.50%4/3/202811,023 10,920 11,023 \n\nSecured Debt(9)4/4/20229.32%SF+5.50%4/3/202813,886 13,779 13,886 \n\n24,672 24,882 \n\nMini Melts of America, LLC(10)Manufacturer and Distributor of Branded Premium Beaded Ice Cream\n\nSecured Debt(9) (32)11/30/202310.06%SF+6.25%11/30/20281,425 1,400 1,361 \n\nSecured Debt(9) (26)11/30/202310.05%SF+6.25%11/30/20281,305 1,285 1,246 \n\nSecured Debt(9)11/30/20239.07%SF+5.25%11/30/20284,833 4,764 4,615 \n\nSecured Debt(9)11/30/202311.07%SF+7.25%11/30/20284,833 4,762 4,597 \n\nCommon Equity11/30/2023524,888525 280 \n\n12,736 12,099 \n\nMission Critical Group(10)Backup Power Generation\n\nSecured Debt(9) (25)4/17/2025SF+5.50%4/17/2030— (196)(196)\n\nSecured Debt(9)4/17/20259.33%SF+5.50%4/17/203014,698 14,274 14,698 \n\nSecured Debt(9)4/17/20259.23%SF+5.50%4/17/203066,099 64,972 66,099 \n\nCommon Equity6/7/20231,2341,234 15,530 \n\n80,284 96,131 \n\nMonitorUS Holding, LLC(10) (13) (21)SaaS Provider of Media Intelligence Services\n\nSecured Debt(9)5/24/202210.18%SF+6.25%5/24/20274,101 4,080 4,417 \n\nSecured Debt(9)5/24/202210.18%SF+6.25%5/24/202710,661 10,602 12,399 \n\nSecured Debt(9)5/24/202210.18%SF+6.25%5/24/202717,933 17,839 17,933 \n\nSecured Debt(9)6/25/202510.18%SF+6.25%5/24/20271,231 1,214 1,244 \n\nUnsecured Debt1/31/20258.00%8.00%3/31/202681 81 81 \n\nCommon Stock8/30/2022106,608,4241,150 707 \n\n34,966 36,781 \n\nObra Capital, Inc.(10)Provider of Asset Management Services Specialized in Insurance-Linked Strategies\n\nSecured Debt(9) (25)6/21/2024SF+7.25%12/21/2028— (3)(3)\n\nSecured Debt(9)6/21/202411.09%SF+7.25%6/21/202926,089 25,549 26,089 \n\nSecured Debt(9)5/13/202511.09%SF+7.25%6/21/20293,155 3,075 3,155 \n\n59\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\n28,621 29,241 \n\nOnPoint Industrial Services, LLC(10)Environmental & Facilities Services\n\nSecured Debt(9)12/18/20249.42%SF+5.75%11/16/20271,386 1,375 1,386 \n\nSecured Debt(9)4/1/20249.42%SF+5.75%11/16/20273,851 3,825 3,851 \n\n5,200 5,237 \n\nOspemifene Royalty Sub LLC(10)Estrogen-Deficiency Drug Manufacturer and Distributor\n\nSecured Debt(14)7/8/201311/15/20264,348 4,348 19 \n\nPeaches Holding CorporationWholesale Provider of Consumer Packaging Solutions\n\nCommon Equity5/22/20243,2267,221 — \n\nPrimeFlight Aviation Services(10) (13)Air Freight & Logistics\n\nSecured Debt(9)5/1/20239.35%SF+5.50%5/1/20297,800 7,638 7,800 \n\nSecured Debt(9)9/7/20239.17%SF+5.50%5/1/2029745 728 745 \n\nSecured Debt(9)1/30/20249.17%SF+5.50%5/1/2029749 736 749 \n\nSecured Debt(9)6/28/20248.92%SF+5.25%5/1/2029851 842 851 \n\nSecured Debt(9)1/21/20259.12%SF+5.25%5/1/20291,886 1,871 1,886 \n\nSecured Debt(9)7/31/20259.09%SF+5.25%5/1/20292,021 2,004 2,021 \n\nSecured Debt(9)11/21/20258.63%SF+4.75%5/1/20292,128 2,108 2,108 \n\n15,927 16,160 \n\nRichardson Sales Solutions(10)Business Services\n\nSecured Debt(9)8/24/20238.86%SF+5.00%8/24/20281,353 1,299 1,353 \n\nSecured Debt(9)8/24/20238.86%SF+5.00%8/24/202833,168 32,566 33,168 \n\nSecured Debt(9)9/10/20248.93%SF+5.00%8/24/202821,545 21,255 21,545 \n\n55,120 56,066 \n\nRoof Opco, LLC(10)Residential Re-Roofing/Repair\n\nSecured Debt(25)8/27/20218/31/2029— (2)— \n\nSecured Debt8/27/202110.00%10.00%8/31/20293,376 3,360 2,444 \n\nSecured Debt8/27/202110.00%10.00%8/31/20293,376 3,360 2,375 \n\n6,718 4,819 \n\nRoyal Cup Inc.(10)Coffee Roaster and Beverage Solutions Provider\n\nSecured Debt(9) (25)11/26/2025SF+5.25%11/26/2030— (221)(221)\n\nSecured Debt(9) (25)11/26/2025SF+5.25%11/26/2030— (83)(83)\n\nSecured Debt(9) (25)11/26/2025SF+5.25%11/26/2030— (359)(359)\n\nSecured Debt(9)11/26/20258.98%SF+5.25%11/26/203053,300 52,527 52,527 \n\nPreferred Equity11/26/20253,807,1443,807 3,807 \n\n55,671 55,671 \n\nRug Doctor, LLC.(10)Carpet Cleaning Products and Machinery\n\nSecured Debt(9)7/16/20219.17%SF+5.50%5/16/20283,721 3,720 3,721 \n\n60\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9)7/16/20219.17%SF+5.50%5/16/20286,831 6,737 6,831 \n\n10,457 10,552 \n\nSouth Coast Terminals Holdings, LLC(10)Specialty Toll Chemical Manufacturer\n\nSecured Debt(9) (25)8/8/2024SF+5.25%8/8/2029— — — \n\nSecured Debt(9)8/8/20249.07%SF+5.25%8/8/202953,320 53,022 53,320 \n\nSecured Debt(9)7/31/20259.07%SF+5.25%8/8/202910,475 10,383 10,475 \n\nCommon Equity12/10/2021864864 1,013 \n\n64,269 64,808 \n\nSPAU Holdings, LLC(10)Digital Photo Product Provider\n\nSecured Debt(9) (25)7/1/2022SF+7.00%7/1/2027— (24)— \n\nSecured Debt(9)7/1/202210.82%SF+7.00%7/1/202715,409 15,291 15,409 \n\nCommon Stock7/1/2022638,710639 630 \n\n15,906 16,039 \n\nTEC Services, LLC(10)Provider of Janitorial Service for Food Retailers\n\nSecured Debt(9) (25)12/31/2024SF+5.50%12/31/2029— (76)(76)\n\nSecured Debt(9) (25)12/31/2024SF+5.50%12/31/2029— (57)(57)\n\nSecured Debt(9)12/31/20249.27%SF+5.50%12/31/202932,010 31,633 31,903 \n\n31,500 31,770 \n\nTectonic Financial, LLCFinancial Services Organization\n\nCommon Stock(8)5/15/2017200,0002,000 5,000 \n\nTex Tech Tennis, LLC(10)Sporting Goods & Textiles\n\nPreferred Equity(29)7/7/20211,000,0001,000 2,900 \n\nTitan Meter Midco Corp.(10)Value Added Distributor of a Variety of Metering and Measurement Products and Solutions to the Energy Industry\n\nSecured Debt(9)3/11/202410.17%SF+6.50%3/11/20291,439 1,360 1,439 \n\nSecured Debt(9)3/11/202410.17%SF+6.50%3/11/202933,585 32,840 33,585 \n\nSecured Debt(9)2/27/202510.17%SF+6.50%3/11/20294,298 4,214 4,298 \n\nSecured Debt(9)8/5/202510.17%SF+6.50%3/11/20294,863 4,755 4,863 \n\nPreferred Equity3/11/20241,358,8928.00%8.00%1,375 1,540 \n\n44,544 45,725 \n\nU.S. TelePacific Corp.(11)Provider of Communications and Managed Services\n\nSecured Debt(9) (14)6/1/202312.32%SF+8.15%7.00%5/2/20279,811 2,611 3,998 \n\nSecured Debt(14)6/1/20235/2/20271,003 20 — \n\n2,631 3,998 \n\nUBM AcquireCo LLCMail Commingling and Logistics Provider\n\nSecured Debt(25)12/20/202512/20/2027— (38)(38)\n\nSecured Debt12/20/202510.00%12/20/203042,800 42,379 42,379 \n\n61\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nCommon Equity12/20/2025808,000 8,000 \n\n50,341 50,341 \n\nUPS Intermediate, LLC(10)Provider of Maintenance, Repair, and Overhaul Services for Industrial Equipment Serving the Refining, Chemical, Midstream, Renewables, Power, and Utilities End Markets\n\nSecured Debt(9)7/29/20249.97%SF+6.25%7/27/202942,903 42,297 42,622 \n\nCommon Equity7/29/20241,443,2991,443 1,480 \n\n43,740 44,102 \n\nUserZoom Technologies, Inc.(10)Provider of User Experience Research Automation Software\n\nSecured Debt(9)1/11/202311.63%SF+7.50%4/5/20294,000 3,938 4,000 \n\nVitesse Systems(10)Component Manufacturing and Machining Platform\n\nSecured Debt(32)12/22/202310.98%SF+7.00%12/22/20287,727 7,599 7,727 \n\nSecured Debt(9)12/22/202310.93%SF+7.00%12/22/202841,650 41,032 41,650 \n\n48,631 49,377 \n\nVORTEQ Coil Finishers, LLC(10)Specialty Coating of Aluminum and Light-Gauge Steel\n\nCommon Equity(8)11/30/20211,038,4621,038 3,610 \n\nWash & Wax Systems LLC(10)Express Car Wash Operator\n\nSecured Debt(9) (32)4/30/20259.28%SF+5.50%4/30/2028322 322 322 \n\nSecured Debt(9)4/30/20259.34%SF+5.50%4/30/20287,546 7,546 7,546 \n\nSecured Debt4/30/202512.00%12.00%7/31/20285,353 5,353 5,353 \n\nCommon Equity4/30/20253,2193,410 1,520 \n\n16,631 14,741 \n\nWatterson Brands, LLC(10)Facility Management Services\n\nSecured Debt(14)12/17/202112.00%4.00%12/17/20262,339 2,328 1,595 \n\nSecured Debt(14)12/17/202112.00%4.00%12/17/2026403 394 275 \n\nSecured Debt(14)12/17/202112.00%4.00%12/17/202616,589 16,527 11,314 \n\nSecured Debt(14)12/17/202112.00%4.00%12/17/202613,269 13,219 9,049 \n\n32,468 22,233 \n\nWinter Services LLC(10)Provider of Snow Removal and Ice Management Services\n\nSecured Debt(9) (32)11/19/202111.49%SF+7.50%11/19/20274,000 3,980 4,000 \n\nSecured Debt(9)11/19/202111.75%SF+7.50%11/19/20271,874 1,865 1,874 \n\nSecured Debt(9)1/16/202410.75%SF+6.50%11/19/20277,240 7,185 7,240 \n\nSecured Debt(9)1/16/202412.75%SF+8.50%11/19/20277,240 7,185 7,240 \n\n20,215 20,354 \n\nXenon Arc, Inc.(10)Tech-enabled Distribution Services to Chemicals and Food Ingredients Primary Producers\n\nSecured Debt(9)12/17/20219.54%SF+5.75%12/20/202823,571 23,374 23,571 \n\n62\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\nPortfolio Company (1) (20)Business DescriptionType of Investment\n(2) (3) (15)Investment Date\n(24)Shares/UnitsTotal RateReference Rate and Spread (28)PIK Rate (19)Maturity\nDatePrincipal (4)Cost (4)Fair Value (18)\n\nSecured Debt(9)12/17/20219.72%SF+5.75%12/20/202837,056 36,774 37,056 \n\nSecured Debt(9)3/31/20259.52%SF+5.75%12/20/202810,552 10,386 10,552 \n\n70,534 71,179 \n\nYS Garments, LLC(11)Designer and Provider of Branded Activewear\n\nSecured Debt(9) (26)8/22/201811.48%SF+7.50%8/9/202710,592 10,507 8,893 \n\nZRG Partners, LLC(10)Talent Advisory Services Provider\n\nSecured Debt(9)6/14/202411.75%P+5.00%6/14/20296,601 6,457 6,601 \n\nSecured Debt(9) (26)6/14/20249.69%SF+6.00%6/14/202911,781 11,558 11,781 \n\nSecured Debt(9)6/14/20249.60%SF+6.00%6/14/20296,502 6,409 6,502 \n\nSecured Debt(9)6/14/20249.73%SF+6.00%6/14/202946,518 45,853 46,518 \n\n70,277 71,402 \n\nSubtotal Non-Control/Non-Affiliate investments (66.2% of net assets at fair value)\n$2,018,755 $1,983,312 \n\nTotal Portfolio Company investments, December 31, 2025 (184.3% of net assets at fair value)\n$4,724,528 $5,518,117 \n\nMoney market funds (included in cash and cash equivalents)\n\nDreyfus Government Cash Management (36)$1,227 $1,227 \n\nFidelity Government Fund (37)1,171 1,171 \n\nFidelity Treasury (31)850 850 \n\nTotal money market funds$3,248 $3,248 \n\n___________________________\n\n(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.\n\n(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.\n\n(3)See Note C — Fair Value Hierarchy for Investments — Portfolio Composition and Schedule 12-14 for a summary of geographic location of portfolio companies.\n\n(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.\n\n(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.\n\n(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.\n\n63\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\n(7)“Non-Control/Non-Affiliate” investments are defined by the 1940 Act as investments that are neither Control investments nor Affiliate investments.\n\n(8)Income producing through dividends or distributions.\n\n(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%.\n\n(10)Private Loan portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Private Loan portfolio investments.\n\n(11)Middle Market portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Middle Market portfolio investments.\n\n(12)Other Portfolio investment. See Note C — Fair Value Hierarchy for Investments — Portfolio Composition for a description of Other Portfolio investments.\n\n(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.\n\n(14)Non-accrual or non-income producing debt investment.\n\n(15)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities.”\n\n(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.\n\n(17)Maturity date is under on-going negotiations with the portfolio company and other lenders, if applicable.\n\n(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.\n\n(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.\n\n(20)All portfolio company headquarters are based in the U.S., unless otherwise noted.\n\n(21)Portfolio company headquarters are located outside of the U.S.\n\n(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.\n\n(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.\n\n(24)Investment Date represents the date of initial investment in the security position.\n\n(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.\n\n(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.\n\n(27)Warrants are presented in equivalent shares/units with a strike price of $0.01 per share/unit.\n\n64\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments (Continued)\n\nDecember 31, 2025\n\n(dollars in thousands)\n\n(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%.\n\n(29)Shares/Units represent ownership in a related real estate or holding entity.\n\n(30)Investment is not unitized. Presentation is made in percent of fully diluted ownership unless otherwise indicated.\n\n(31)Effective yield as of December 31, 2025 was approximately 3.43% on the Fidelity Treasury.\n\n(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.\n\n(33)Index based floating interest rate is subject to contractual maximum base rate of 3.00%.\n\n(34)Index based floating interest rate is subject to contractual maximum base rate of 4.00%.\n\n(35)Investment is accruing income at the fixed cash rate of 2.50% as of December 31, 2025.\n\n(36)Effective yield as of December 31, 2025 was approximately 3.70% on the Dreyfus Government Cash Management.\n\n(37)Effective yield as of December 31, 2025 was approximately 3.43% on the Fidelity Government Fund.\n\n65\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements\n\n(Unaudited)\n\nNOTE A — ORGANIZATION AND BASIS OF PRESENTATION\n\n1.Organization\n\nMain 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.\n\nMain 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.\n\nThe “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).\n\nMSCC 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.\n\nMSCC 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”).\n\nMSC 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.\n\nMSCC 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.\n\n66\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMSCC 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”).\n\nUnless 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.\n\n2.Basis of Presentation\n\nMain 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 months ended March 31, 2026 and 2025, cash flows for the three months ended March 31, 2026 and 2025 and financial position as of March 31, 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.\n\nThe 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 months ended March 31, 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.\n\nPrinciples of Consolidation\n\nUnder 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.\n\nPortfolio Investment Classification\n\nMain 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.\n\n67\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nNOTE B — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES\n\n1.Valuation of the Investment Portfolio\n\nMain 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.\n\nMain 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.\n\nLMM 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.\n\nFor 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.\n\nThese 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.\n\n68\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nUnder 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.\n\nUnder 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.\n\nUnder 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.\n\n69\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nPursuant 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 and 15 LMM portfolio companies as of March 31, 2026 and 2025, respectively, representing 25% and 20% of the total LMM portfolio at fair value as of March 31, 2026 and 2025, respectively. A total of 71 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 March 31, 2026, representing 86% of the total LMM portfolio at fair value as of March 31, 2026. Excluding its investments in LMM portfolio companies that, as of March 31, 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, 97% of the LMM portfolio at fair value was reviewed and certified by the Financial Advisory Firm during the trailing twelve months ended March 31, 2026.\n\nFor 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.\n\nIn 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 16 and 14 Private Loan portfolio companies as of March 31, 2026 and 2025, respectively, representing 24% and 26% of the total Private Loan portfolio at fair value as of March 31, 2026 and 2025, respectively. A total of 62 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 March 31, 2026, representing 84% of the total Private Loan portfolio at fair value as of March 31, 2026. Excluding its investments in Private Loan portfolio companies that, as of March 31, 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 March 31, 2026.\n\n70\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nFor 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 (95% as of both March 31, 2026 and December 31, 2025) 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.\n\nFor 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.\n\nFor valuation purposes, all of Main Street’s Other Portfolio investments are non-control investments. Main Street’s Other Portfolio investments comprised 2.4% of Main Street’s Investment Portfolio at fair value as of both March 31, 2026 and December 31, 2025. 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.\n\nFor 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 March 31, 2026 and December 31, 2025.\n\nDue 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.\n\nMain 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.\n\n71\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nRule 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 March 31, 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.\n\n2.Use of Estimates\n\nThe 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.\n\nMacroeconomic 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.\n\n3.Cash and Cash Equivalents\n\nCash 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 March 31, 2026 and December 31, 2025, the Company had $5.6 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.\n\nAs of March 31, 2026 and December 31, 2025, cash balances totaling $13.2 million and $35.4 million, respectively, exceeded Federal Deposit Insurance Corporation insurance protection levels, subjecting the Company to risk related to the uninsured balance.\n\n4.Interest, Dividend and Fee Income\n\nMain 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 sold or written off, Main Street removes it from non-accrual status. Generally, any interest payments received for investments on non-accrual status reduce the cost basis of the investment and are not recorded as income.\n\nAs of March 31, 2026, investments on non-accrual status were $68.3 million at fair value and $199.1 million at cost and comprised 1.2% 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.\n\n72\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMain 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 March 31, 2026 and 2025, (i) 2.7% and 2.9%, respectively, of Main Street’s total investment income was attributable to PIK interest income not paid currently in cash and (ii) 0.7% and 0.5%, respectively, of Main Street’s total investment income was attributable to cumulative dividend income not paid currently in cash.\n\nMain 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.\n\nA presentation of total investment income Main Street earned from its Investment Portfolio in each of the periods presented is as follows:\n\nThree Months Ended\nMarch 31,\n\n2026\n\n2025\n\n(in thousands)\n\nInterest, dividend and fee income:\n\nInterest income$105,306 $98,017 \n\nDividend income28,196 36,026 \n\nFee income6,604 3,003 \n\nTotal investment income$140,106 $137,046 \n\n5.Deferred Financing Costs\n\nDeferred 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.\n\n6.Equity Offering Costs\n\nThe Company’s offering costs are charged against the proceeds from equity offerings when the proceeds are received.\n\n7.Unearned Income—Debt Origination Fees and Original Issue Discount and Discounts / Premiums to Par Value\n\nMain 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.\n\n73\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nIn 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.\n\nMain 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.\n\nTo 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 each of the three months ended March 31, 2026 and 2025, 1.7% 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.\n\n8.Share-Based Compensation\n\nMain 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.\n\nMain 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.\n\n9.Deferred Compensation Plan\n\nMain 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.\n\nCompensation 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).\n\n74\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nPhantom 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.\n\n10.Income Taxes\n\nMSCC 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.\n\nThe 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.\n\nThe 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.\n\nThe 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.\n\n75\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nTaxable 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.\n\n11.Net Realized Gains or Losses and Net Unrealized Appreciation or Depreciation\n\nRealized 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.\n\n12.Fair Value of Financial Instruments\n\nFair 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.\n\nMain 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.\n\n13.Earnings Per Share\n\nBasic 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.\n\n14.Segments\n\nMain 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.\n\n15.Recently Issued or Adopted Accounting Standards\n\nFrom 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.\n\n76\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nNOTE C — FAIR VALUE HIERARCHY FOR INVESTMENTS — PORTFOLIO COMPOSITION\n\nASC 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.\n\nFair Value Hierarchy\n\nIn 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).\n\nInvestments recorded on Main Street’s Consolidated Balance Sheets are categorized based on the inputs to the valuation techniques as follows:\n\nLevel 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).\n\nLevel 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:\n\n•Quoted prices for similar assets in active markets (for example, investments in restricted stock);\n\n•Quoted prices for identical or similar assets in non-active markets (for example, investments in thinly traded public companies);\n\n•Pricing models whose inputs are observable for substantially the full term of the investment (for example, market interest rate indices); and\n\n•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.\n\nLevel 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.\n\nAs 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).\n\nAs of March 31, 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 March 31, 2026 and December 31, 2025.\n\nAs of March 31, 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 March 31, 2026 and December 31, 2025.\n\n77\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nAs of March 31, 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 March 31, 2026 and December 31, 2025.\n\nAs of March 31, 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 March 31, 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 March 31, 2026 and December 31, 2025.\n\nAs of March 31, 2026 and December 31, 2025, Main Street did not hold any short-term portfolio investments.\n\nAs of March 31, 2026 and December 31, 2025, all money market funds included in cash and cash equivalents were valued using Level 1 inputs.\n\nThe fair value determination of each portfolio investment categorized as Level 3 required one or more of the following unobservable inputs:\n\n•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;\n\n•Current and projected financial condition of the portfolio company;\n\n•Current and projected ability of the portfolio company to service its debt obligations;\n\n•Type and amount of collateral, if any, underlying the investment;\n\n•Current financial ratios (e.g., fixed charge coverage ratio, interest coverage ratio and net debt/EBITDA ratio) applicable to the investment;\n\n•Current liquidity of the investment and related financial ratios (e.g., current ratio and quick ratio);\n\n•Pending debt or capital restructuring of the portfolio company;\n\n•Projected operating results of the portfolio company;\n\n•Current information regarding any offers to purchase the investment;\n\n•Current ability of the portfolio company to raise any additional financing as needed;\n\n•Changes in the economic environment which may have a material impact on the operating results of the portfolio company;\n\n•Internal occurrences that may have an impact (both positive and negative) on the operating performance of the portfolio company;\n\n•Qualitative assessment of key management;\n\n•Contractual rights, obligations or restrictions associated with the investment; and\n\n•Other factors deemed relevant.\n\n78\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nThe 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.\n\nA summary of the significant unobservable inputs used in the fair value measurement of Main Street’s Level 3 portfolio investments as of March 31, 2026 and December 31, 2025 is as follows:\n\nType of Investment\nFair Value as of March 31, 2026\n\n(in thousands)\nValuation TechniqueSignificant Unobservable InputsRange (4)Weighted-Average (4)(5)Median (4)\n\nEquity investments$1,886,842 Discounted cash flowWACC\n9.3% - 23.3%\n14.6%15.1%\n\nMarket comparable / Enterprise valueEBITDA multiple (1) (3)\n4.3x - 9.0x (2)\n7.4x6.6x\n\nDebt investments$3,753,011 Discounted cash flowRisk adjusted discount rate (6)\n7.6% - 18.7% (2)\n11.8%11.4%\n\nExpected principal recovery percentage\n0.0% - 500.0%\n99.3%100.0%\n\nDebt investments$10,231 Market approachThird-party quote\n14.5 - 61.4\n51.241.2\n\nTotal Level 3 investments$5,650,084 \n\n___________________________\n\n(1)EBITDA may include pro forma adjustments and/or other add-backs based on specific circumstances related to each investment.\n\n(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 - 16.0x and the range for risk adjusted discount rate is 5.4% - 34.6%.\n\n(3)The fair value determination of the equity investment in the External Investment Manager is based on a fee multiple of 7.7x, 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.\n\n(4)Does not include investments for which the valuation technique does not include the use of the applicable fair value input.\n\n(5)Weighted-Average is calculated for each significant unobservable input based on the applicable security’s fair value.\n\n(6)Discount rate includes the effect of the standard SOFR base rate, as applicable.\n\n79\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nType of Investment\nFair Value as of December 31, 2025\n\n(in thousands)\nValuation TechniqueSignificant Unobservable InputsRange (4)Weighted-Average (4)(5)Median (4)\n\nEquity investments$1,889,374 Discounted cash flowWACC\n9.4% - 22.7%\n14.4%15.0%\n\nMarket comparable / Enterprise valueEBITDA multiple (1) (3)\n5.0x - 9.0x (2)\n7.3x6.5x\n\nDebt investments$3,596,989 Discounted cash flowRisk adjusted discount rate (6)\n8.0% - 18.3% (2)\n11.7%11.5%\n\nExpected principal recovery percentage\n0.0% - 500.0%\n99.5%100.0%\n\nDebt investments$10,342 Market approachThird-party quote\n14.5 - 63.0\n52.240.8\n\nTotal Level 3 investments$5,496,705 \n\n___________________________\n\n(1)EBITDA may include pro forma adjustments and/or other add-backs based on specific circumstances related to each investment.\n\n(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%.\n\n(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.\n\n(4)Does not include investments for which the valuation technique does not include the use of the applicable fair value input.\n\n(5)Weighted-Average is calculated for each significant unobservable input based on the applicable security’s fair value.\n\n(6)Discount rate includes the effect of the standard SOFR base rate, as applicable.\n\n80\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nA summary of changes in the fair value of Main Street’s Level 3 portfolio investments for the three months ended March 31, 2026 and 2025 is as follows (in thousands):\n\nType of Investment\nFair Value as of December 31, 2025\nTransfers Into (Out of) Level 3 HierarchyRedemptions/ RepaymentsNew InvestmentsNet Changes from Unrealized to RealizedNet Unrealized Appreciation (Depreciation)Other (1)\nFair Value as of March 31, 2026\n\nDebt$3,607,331 $— $(164,734)$360,021 $(1,820)$(37,485)$(71)$3,763,242 \n\nEquity1,858,205 — (25,196)33,933 (17,607)6,677 71 1,856,083 \n\nEquity Warrant31,169 — — — — (410)— 30,759 \n\n$5,496,705 $— $(189,930)$393,954 $(19,427)$(31,218)$— $5,650,084 \n\n___________________________\n\n(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.\n\nType of Investment\nFair Value as of December 31, 2024\nTransfers Into (Out of) Level 3 HierarchyRedemptions/ RepaymentsNew InvestmentsNet Changes from Unrealized to RealizedNet Unrealized Appreciation (Depreciation)Other (1)\nFair Value as of March 31, 2025\n\nDebt$3,278,365 $— $(179,192)$222,305 $30,440 $(8,711)$(27,250)$3,315,957 \n\nEquity1,637,181 (16,810)(12,868)23,679 (1,532)37,887 27,250 1,694,787 \n\nEquity Warrant17,123 — — — — 4,760 — 21,883 \n\n$4,932,669 $(16,810)$(192,060)$245,984 $28,908 $33,936 $— $5,032,627 \n\n___________________________\n\n(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.\n\n81\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nAs of March 31, 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:\n\nFair Value Measurements\n\n(in thousands)\n\nMarch 31, 2026\nFair ValueQuoted Prices in\nActive Markets for\nIdentical Assets\n(Level 1)Significant Other\nObservable Inputs\n(Level 2)Significant\nUnobservable\nInputs\n(Level 3)\n\nLMM portfolio investments$3,227,396 $— $— $3,227,396 \n\nPrivate Loan portfolio investments1,993,902 — — 1,993,902 \n\nMiddle Market portfolio investments81,886 — — 81,886 \n\nOther Portfolio investments138,507 24,667 — 113,840 \n\nExternal Investment Manager233,060 — — 233,060 \n\nTotal investments$5,674,751 $24,667 $— $5,650,084 \n\nFair Value Measurements\n\n(in thousands)\n\nDecember 31, 2025\nFair ValueQuoted Prices in\nActive Markets for\nIdentical Assets\n(Level 1)Significant Other\nObservable Inputs\n(Level 2)Significant\nUnobservable\nInputs\n(Level 3)\n\nLMM portfolio investments$3,057,023 $— $— $3,057,023 \n\nPrivate Loan portfolio investments1,988,438 — — 1,988,438 \n\nMiddle Market portfolio investments83,498 — — 83,498 \n\nOther Portfolio investments134,138 21,412 — 112,726 \n\nExternal Investment Manager255,020 — — 255,020 \n\nTotal investments$5,518,117 $21,412 $— $5,496,705 \n\nInvestment Portfolio Composition\n\nMain 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.\n\nMain 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.\n\n82\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMain 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.\n\nMain 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.\n\nMain 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.\n\nBased 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.\n\nMain 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 $5.5 million and $5.3 million for the three months ended March 31, 2026 and 2025, respectively.\n\nInvestment 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 months ended March 31, 2026 and 2025, Main Street did not record investment income from any single portfolio company in excess of 10% of total investment income.\n\n83\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nA summary of Main Street’s LMM and Private Loan portfolio investments as of March 31, 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):\n\nMarch 31, 2026\n\nLMM (a)Private Loan\n\n(dollars in millions)\n\nNumber of portfolio companies93 85 \n\nFair value$3,227.4 $1,993.9 \n\nCost$2,577.0 $2,057.0 \n\nDebt investments as a % of portfolio (at cost)72.0 %94.5 %\n\nEquity investments as a % of portfolio (at cost)28.0 %5.5 %\n\n% of debt investments at cost secured by first priority lien99.4 %99.3 %\n\nWeighted-average annual effective yield (b)12.6 %10.3 %\n\nAverage EBITDA (c)$11.2 $34.2 \n\n___________________________\n\n(a)As of March 31, 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%.\n\n(b)The weighted-average annual effective yields were computed using the effective interest rates for all debt investments as of March 31, 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 March 31, 2026. The weighted-average annual effective yield on Main Street’s debt portfolio as of March 31, 2026, including debt investments on non-accrual status, was 12.1% for its LMM portfolio investments and 9.7% 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.\n\n(c)The average EBITDA is calculated using a simple average for LMM portfolio companies and a weighted-average for 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.\n\nDecember 31, 2025\n\nLMM (a)Private Loan\n\n(dollars in millions)\n\nNumber of portfolio companies92 86 \n\nFair value$3,057.0 $1,988.4 \n\nCost$2,419.3 $2,014.1 \n\nDebt investments as a % of portfolio (at cost)71.2 %93.5 %\n\nEquity investments as a % of portfolio (at cost)28.8 %6.5 %\n\n% of debt investments at cost secured by first priority lien99.4 %99.9 %\n\nWeighted-average annual effective yield (b)12.5 %10.5 %\n\nAverage EBITDA (c)$11.1 $33.9 \n\n___________________________\n\n(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%.\n\n84\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\n(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.\n\n(c)The average EBITDA is calculated using a simple average for LMM portfolio companies and a weighted-average for 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.\n\nFor the three months ended March 31, 2026 and 2025, Main Street achieved an annualized total return on investments of 8.9% and 16.0%, 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.\n\nAs of March 31, 2026, Main Street had Other Portfolio investments in 34 entities, spread across 13 investment managers, collectively totaling $138.5 million in fair value and $148.5 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 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.\n\nAs of March 31, 2026, Main Street had Middle Market portfolio investments in 11 portfolio companies, collectively totaling $81.9 million in fair value and $121.4 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.\n\nAs 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 March 31, 2026, this investment had a fair value of $233.1 million and a cost basis of $29.5 million, which comprised 4.1% 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.\n\n85\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nThe 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 March 31, 2026 and December 31, 2025, is as follows (this information excludes Other Portfolio investments and the External Investment Manager, which are discussed above):\n\nCost:March 31, 2026December 31, 2025\n\nFirst lien debt81.2 %80.9 %\n\nEquity18.0 18.6 \n\nSecond lien debt0.4 0.1 \n\nEquity warrants0.2 0.2 \n\nOther0.2 0.2 \n\n100.0 %100.0 %\n\nFair Value:March 31, 2026December 31, 2025\n\nFirst lien debt70.2 %69.8 %\n\nEquity28.7 29.4 \n\nSecond lien debt0.3 — \n\nEquity warrants0.6 0.6 \n\nOther0.2 0.2 \n\n100.0 %100.0 %\n\nMain 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 March 31, 2026 and December 31, 2025, is as follows (this information excludes Other Portfolio investments and the External Investment Manager):\n\nCost:March 31, 2026December 31, 2025\n\nWest25.3 %25.3 %\n\nSouthwest19.5 19.0 \n\nMidwest18.8 19.2 \n\nSoutheast18.6 17.5 \n\nNortheast14.5 15.4 \n\nCanada2.1 2.2 \n\nOther Non-U.S.1.2 1.4 \n\n100.0 %100.0 %\n\nFair Value:March 31, 2026December 31, 2025\n\nWest24.5 %24.8 %\n\nSouthwest23.3 23.0 \n\nMidwest19.8 20.1 \n\nSoutheast16.9 15.8 \n\nNortheast12.5 13.1 \n\nCanada1.9 1.9 \n\nOther Non-U.S.1.1 1.3 \n\n100.0 %100.0 %\n\n86\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMain 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 March 31, 2026 and December 31, 2025, is as follows (this information excludes Other Portfolio investments and the External Investment Manager):\n\nCost:March 31, 2026December 31, 2025\n\nMachinery8.3 %8.3 %\n\nConstruction & Engineering7.6 6.1 \n\nElectrical Equipment6.4 5.9 \n\nCommercial Services & Supplies5.4 6.8 \n\nProfessional Services5.1 5.3 \n\nDistributors4.8 5.0 \n\nDiversified Consumer Services4.5 4.7 \n\nHealth Care Providers & Services4.1 4.2 \n\nInternet Software & Services3.8 4.2 \n\nAerospace & Defense3.8 2.3 \n\nIT Services3.6 3.7 \n\nContainers & Packaging3.2 3.3 \n\nAuto Components3.1 3.2 \n\nTobacco2.4 2.5 \n\nTextiles, Apparel & Luxury Goods2.3 2.5 \n\nLeisure Equipment & Products2.1 2.1 \n\nComputers & Peripherals2.0 2.0 \n\nSoftware2.0 2.1 \n\nMedia2.0 1.6 \n\nEnergy Equipment & Services1.9 2.4 \n\nSpecialty Retail1.9 2.0 \n\nCommunications Equipment1.8 1.9 \n\nAir Freight & Logistics1.6 1.5 \n\nTrading Companies & Distributors1.6 1.8 \n\nFood Products1.4 1.4 \n\nChemicals1.4 1.4 \n\nFood & Staples Retailing1.3 1.4 \n\nBeverages1.3 1.2 \n\nOil, Gas & Consumable Fuels1.0 1.1 \n\nHotels, Restaurants & Leisure1.0 1.1 \n\nInternet & Catalog Retail0.9 1.0 \n\nOther (1)6.4 6.0 \n\n100.0 %100.0 %\n\n___________________________\n\n(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.\n\n87\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nFair Value:March 31, 2026December 31, 2025\n\nMachinery10.2 %10.2 %\n\nConstruction & Engineering7.6 6.5 \n\nElectrical Equipment6.8 5.9 \n\nDiversified Consumer Services5.8 6.1 \n\nDistributors5.4 5.5 \n\nProfessional Services5.1 5.2 \n\nCommercial Services & Supplies4.5 5.9 \n\nIT Services3.8 3.8 \n\nComputers & Peripherals3.7 3.6 \n\nHealth Care Providers & Services3.7 3.8 \n\nAerospace & Defense3.4 2.0 \n\nContainers & Packaging3.3 3.4 \n\nInternet Software & Services3.1 3.4 \n\nAuto Components3.0 3.0 \n\nTobacco2.5 2.6 \n\nSpecialty Retail2.3 2.4 \n\nSoftware2.2 2.2 \n\nMedia2.0 1.6 \n\nEnergy Equipment & Services1.9 2.5 \n\nTextiles, Apparel & Luxury Goods1.8 1.9 \n\nCommunications Equipment1.6 1.7 \n\nAir Freight & Logistics1.5 1.3 \n\nLeisure Equipment & Products1.4 1.4 \n\nTrading Companies & Distributors1.4 1.6 \n\nChemicals1.2 1.3 \n\nBeverages1.1 1.1 \n\nFood & Staples Retailing1.0 1.1 \n\nFood Products1.0 1.1 \n\nOil, Gas & Consumable Fuels0.9 1.0 \n\nOther (1) 6.8 6.9 \n\n100.0 %100.0 %\n\n___________________________\n\n(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.\n\nAs of March 31, 2026 and December 31, 2025, Main Street had no portfolio investment that was greater than 10% of the Investment Portfolio at fair value.\n\n88\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nUnconsolidated Significant Subsidiaries\n\nIn 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.\n\nAs of March 31, 2026 and December 31, 2025, Main Street had no single investment that qualified as a significant subsidiary under either the investment or income tests.\n\nNOTE D — EXTERNAL INVESTMENT MANAGER\n\nAs 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.\n\nThe 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.\n\nAs 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.\n\n89\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nThe 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.\n\nMain 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.”\n\nThe 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.\n\nMain 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 the three months ended March 31, 2026 and 2025, the total contribution to Main Street’s net investment income was $8.3 million and $7.8 million, respectively.\n\nSummarized financial information from the separate financial statements of the External Investment Manager as of March 31, 2026 and December 31, 2025 and for the three months ended March 31, 2026 and 2025 is as follows:\n\nAs of\n\nMarch 31,\n2026\n\nAs of\n\nDecember 31, 2025\n\n(in thousands)\n\nAccounts receivable - advisory clients (1)$11,319 $11,415 \n\nIntangible asset\n29,500 29,500 \n\nTotal assets$40,819 $40,915 \n\nAccounts payable to MSCC and its subsidiaries$8,450 $8,734 \n\nDividend payable to MSCC and its subsidiaries2,869 2,681 \n\nEquity29,500 29,500 \n\nTotal liabilities and equity$40,819 $40,915 \n\n90\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nThree Months Ended\n\nMarch 31,\n\n20262025\n\n(in thousands)\n\nManagement fee income$6,071 $5,752 \n\nIncentive fees (1)4,003 2,690 \n\nAdministrative services fees186 174 \n\nTotal revenues before waivers10,260 8,616 \n\nWaiver of incentive fees(985)— \n\nTotal revenues, net of incentive fee waivers9,275 8,616 \n\nExpenses allocated from MSCC or its subsidiaries:\n\nSalaries, share-based compensation and other personnel costs(4,571)(4,551)\n\nOther G&A expenses(895)(785)\n\nTotal allocated expenses(5,466)(5,336)\n\nOther direct G&A expenses(10)(38)\n\nTotal expenses(5,476)(5,374)\n\nNet income before taxes3,799 3,242 \n\nTax expense(930)(748)\n\nNet income$2,869 $2,494 \n\n___________________________\n\n(1)As of March 31, 2026 and December 31, 2025, MSC Income had an expense accrual of $2.1 million and $2.8 million, respectively, of incentive fees on capital gains to the External Investment Manager. MSC Income accrued $2.8 million of incentive fees on capital gains in the fourth quarter of 2025, of which $0.6 million was reversed in the first quarter of 2026. However, no capital gains incentive fees were contractually payable to the External Investment Manager as of March 31, 2026 and as a result no income accrual was recorded by the External Investment Manager during any period.\n\nNOTE E — DEBT\n\nA summary of Main Street’s debt as of March 31, 2026 is as follows:\n\nOutstanding\nBalance\nUnamortized Debt Issuance\n\nPremiums (Costs) (1)\nRecorded Value\nEstimated\n\nFair Value (2)\n\n(in thousands)\n\nCorporate Facility$119,000 $— $119,000 $119,000 \n\nSPV Facility267,000 — 267,000 267,000 \n\nMarch 2029 Notes\n550,000 1,015 551,015 565,873 \n\nJuly 2026 Notes\n500,000 (154)499,846 497,190 \n\nJune 2027 Notes\n400,000 (359)399,641 404,012 \n\nAugust 2028 Notes\n350,000 (1,813)348,187 348,464 \n\nSBIC debentures350,000 (5,113)344,887 306,177 \n\nTotal Debt$2,536,000 $(6,424)$2,529,576 $2,507,716 \n\n___________________________\n\n(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets. The unamortized debt issuance costs related to the July 2026 Notes, June 2027 Notes, August 2028 Notes and SBIC debentures are reflected as contra-liabilities on the Consolidated Balance Sheets, while the unamortized debt issuance premium related to the March 2029 Notes is reflected as an addition to the carrying value on the Consolidated Balance Sheets.\n\n91\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\n(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.\n\nA summary of Main Street’s debt as of December 31, 2025 is as follows:\n\nOutstanding\nBalanceUnamortized Debt\nIssuance Costs (1)Recorded ValueEstimated\nFair Value (2)\n\n(in thousands)\n\nCorporate Facility$432,000 $— $432,000 $432,000 \n\nSPV Facility86,000 — 86,000 86,000 \n\nJuly 2026 Notes\n500,000 (285)499,715 496,150 \n\nJune 2027 Notes\n400,000 (431)399,569 408,764 \n\nAugust 2028 Notes\n350,000 (2,004)347,996 352,293 \n\nMarch 2029 Notes\n350,000 (2,279)347,721 365,649 \n\nSBIC debentures350,000 (5,407)344,593 310,930 \n\nTotal Debt$2,468,000 $(10,406)$2,457,594 $2,451,786 \n\n___________________________\n\n(1)The unamortized debt issuance costs for the Credit Facilities are reflected as Deferred financing costs on the Consolidated Balance Sheets, while the unamortized debt issuance costs 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.\n\n(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.\n\nA summary of Main Street’s interest expense for the three months ended March 31, 2026 and 2025 is as follows:\n\nThree Months Ended March 31,\n\n2026\n\n2025\n\n(in thousands)\n\nCorporate Facility$5,892 $4,455 \n\nSPV Facility3,423 3,816 \n\nMarch 2029 Notes\n6,261 6,261 \n\nJuly 2026 Notes\n3,882 3,882 \n\nJune 2027 Notes\n6,572 6,572 \n\nAugust 2028 Notes\n4,916 — \n\nSBIC debentures3,097 3,151 \n\nDecember 2025 Notes\n— 3,031 \n\nTotal Interest Expense$34,043 $31,168 \n\n92\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nA summary of Main Street’s weighted-average amount of total borrowings 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 months ended March 31, 2026 and 2025 is as follows:\n\nThree Months Ended March 31,\n\n2026\n\n2025\n\n(dollars in millions)\n\nWeighted-average borrowings outstanding$2,487.4 $2,150.4 \n\nWeighted-average effective interest rate5.5 %5.8 %\n\nCorporate Facility\n\nMain Street maintains a multi-year revolving credit facility (the “Corporate Facility”) to provide additional liquidity to support its investment and operational activities. In February 2026, Main Street expanded the total commitments under the Corporate Facility by $30.0 million to $1.175 billion.\n\nAs of March 31, 2026, the Corporate Facility included (i) total commitments of $1.175 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 $1.718 billion and (iii) a revolving period through April 2029 and a final maturity date in April 2030.\n\nAs of March 31, 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.\n\nAs of March 31, 2026, the interest rate for borrowings on the Corporate Facility was 5.5%. The average interest rate for borrowings under the Corporate Facility was 5.6% and 6.3% for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, Main Street was in compliance with all financial covenants of the Corporate Facility.\n\nSPV Facility\n\nMain 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.\n\nAs of March 31, 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.\n\nAs of March 31, 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 6.7% for the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, MSCC Funding was in compliance with all financial covenants of the SPV Facility.\n\n93\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMSCC Funding’s balance sheets as of March 31, 2026 and December 31, 2025 are as follows:\n\nBalance Sheets\n\n(in thousands)\n\nMarch 31, 2026December 31, 2025\n\n(Unaudited)\n\nASSETS\n\nInvestments at fair value:\n\nControl investments (cost: $13,840 as of both March 31, 2026 and December 31, 2025)\n$2,940 $12,128 \n\nNon-Control investments (cost: $496,094 and $335,114 as of March 31, 2026 and December 31, 2025, respectively)\n490,857 331,965 \n\nTotal investments (cost: $509,934 and $348,954 as of March 31, 2026 and December 31, 2025, respectively)\n493,797 344,093 \n\nCash and cash equivalents9,835 6,375 \n\nInterest and dividend receivable and other assets3,044 2,149 \n\nAccounts receivable from MSCC and its subsidiaries397 — \n\nDeferred financing costs (net of accumulated amortization of $3,684 and $3,314 as of March 31, 2026 and December 31, 2025, respectively)\n6,714 7,084 \n\nTotal assets$513,787 $359,701 \n\nLIABILITIES\n\nSPV Facility$267,000 $86,000 \n\nAccounts payable and other liabilities to affiliates— 42 \n\nInterest payable1,416 695 \n\nTotal liabilities268,416 86,737 \n\nNET ASSETS\n\nContributed capital173,319 197,064 \n\nTotal undistributed earnings72,052 75,900 \n\nTotal net assets245,371 272,964 \n\nTotal liabilities and net assets$513,787 $359,701 \n\n94\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMSCC Funding’s statements of operations for the three months ended March 31, 2026 and 2025 are as follows:\n\nStatements of Operations\n(in thousands)\n\n(Unaudited)\n\nThree Months Ended\nMarch 31,\n\n20262025\n\nINVESTMENT INCOME:\n\nInterest, dividend and fee income:\n\nNon‑Control/Non‑Affiliate investments$11,368 $10,598 \n\nTotal investment income11,368 10,598 \n\nEXPENSES:\n\nInterest(3,423)(3,816)\n\nManagement fee to MSCC(500)(290)\n\nGeneral and administrative(18)(69)\n\nTotal expenses(3,941)(4,175)\n\nNET INVESTMENT INCOME7,427 6,423 \n\nNET UNREALIZED APPRECIATION (DEPRECIATION):\n\nControl investments(9,187)— \n\nNon‑Control/Non‑Affiliate investments(2,088)63 \n\nTotal net unrealized appreciation (depreciation)(11,275)63 \n\nNET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS$(3,848)$6,486 \n\n95\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMarch 2029 Notes\n\nIn 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 March 31, 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.\n\nAs of March 31, 2026, Main Street was in compliance with all covenants and other requirements of the March 2029 Notes.\n\nJuly 2026 Notes\n\nIn 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.\n\nAs of March 31, 2026, Main Street was in compliance with all covenants and other requirements of the July 2026 Notes.\n\nJune 2027 Notes\n\nIn 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.\n\nAs of March 31, 2026, Main Street was in compliance with all covenants and other requirements of the June 2027 Notes.\n\nAugust 2028 Notes\n\nIn 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.\n\nAs of March 31, 2026, Main Street was in compliance with all covenants and other requirements of the August 2028 Notes.\n\n96\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nSBIC Debentures\n\nUnder existing SBIC regulations, SBA-approved SBICs under common control have the ability to issue debentures guaranteed by the SBA up to a regulatory maximum amount of $350.0 million. Under existing SBA-approved commitments, Main Street, through the Funds, had $350.0 million of outstanding SBIC debentures as of both March 31, 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 March 31, 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 March 31, 2026 was 4.4 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.\n\nAs of March 31, 2026, the SBIC debentures consisted of (i) $175.0 million par value of SBIC debentures issued by MSMF, with a recorded value of $171.1 million net of unamortized debt issuance costs of $3.9 million, and (ii) $175.0 million par value of SBIC debentures issued by MSC III, with a recorded value of $173.8 million net of unamortized debt issuance costs of $1.2 million.\n\nDecember 2025 Notes\n\nIn 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.\n\n97\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nNOTE F — FINANCIAL HIGHLIGHTS\n\nThe following is a schedule of financial highlights of Main Street for the three months ended March 31, 2026 and 2025:\n\nThree Months Ended March 31,\n\nPer Share Data:20262025\n\nNAV as of the beginning of the period$33.33 $31.65 \n\nNet investment income (1)0.93 0.97 \n\nNet realized gain (loss) (1)(2)0.20 (0.33)\n\nNet unrealized appreciation (depreciation) (1)(2)(0.56)0.71 \n\nIncome tax provision on net realized gain (loss) and net unrealized appreciation (depreciation) (1)(2)(0.03)(0.04)\n\nNet increase in net assets resulting from operations (1)0.54 1.31 \n\nDividends paid from net investment income(1.08)(1.05)\n\nDividends paid (3)(1.08)(1.05)\n\nAccretive effect of stock offerings (issuing shares above NAV per share)0.59 0.03 \n\nAccretive effect of DRIP issuance (issuing shares above NAV per share)0.05 0.05 \n\nOther (4)0.03 0.04 \n\nNAV as of the end of the period$33.46 $32.03 \n\nMarket value as of the end of the period$52.96 $56.56 \n\nShares outstanding as of the end of the period92,462,27388,659,597\n\n___________________________\n\n(1)Based on weighted-average number of common shares outstanding for the period.\n\n(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.\n\n(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.\n\n(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.\n\n98\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nThree Months Ended March 31,\n\n20262025\n\n(dollars in thousands)\n\nNAV as of the end of the period$3,093,644$2,840,133\n\nAverage NAV$3,043,769$2,818,986\n\nAverage outstanding debt$2,495,500$2,181,500\n\nRatios to average NAV:\n\nRatio of total expenses, including tax expenses, to average NAV (1)(2)1.92 %1.94 %\n\nRatio of operating expenses to average NAV (2)(3)1.72 %1.68 %\n\nRatio of operating expenses, excluding interest expense, to average NAV (2)(3)0.60 %0.57 %\n\nRatio of net investment income to average NAV (2)2.78 %3.05 %\n\nPortfolio turnover ratio (2)3.64 %3.29 %\n\nTotal investment return (2)(4)(10.64)%(1.69)%\n\nTotal return based on change in NAV (2)(5)1.64 %4.15 %\n\n___________________________\n\n(1)Total expenses are the sum of operating expenses and all tax expenses.\n\n(2)Not annualized.\n\n(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 $5.5 million and $5.3 million for the three months ended March 31, 2026 and 2025, respectively.\n\n(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.\n\n(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.\n\n99\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nNOTE G — DIVIDENDS, DISTRIBUTIONS AND TAXABLE INCOME\n\nMain 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.\n\nA summary of dividends paid for the three months ended March 31, 2026 and 2025 is as follows:\n\nThree Months Ended March 31,\n\n20262025\n\n(in thousands, except per share amounts)\n\nRegular monthly dividends per share$0.78 $0.75 \n\nSupplemental dividends per share0.30 0.30 \n\nTotal dividends per share$1.08 $1.05 \n\nTotal regular monthly dividends$70,383 $66,508 \n\nTotal supplemental dividends27,731 26,639 \n\nTotal dividends$98,114 $93,147 \n\nMSCC 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.\n\nThe 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.\n\n100\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nA reconciliation of “Net increase in net assets resulting from operations” to taxable income and to total distributions declared to common stockholders for the three months ended March 31, 2026 and 2025 is as follows:\n\nThree Months Ended March 31,\n\n20262025\n\n(estimated, in thousands)\n\nNet increase in net assets resulting from operations$48,981 $116,082 \n\nBook-tax difference from share-based compensation expense5,105 4,842 \n\nNet unrealized (appreciation) depreciation50,599 (63,190)\n\nIncome tax provision6,236 7,373 \n\nPre-tax book income not consolidated for tax purposes(28,080)(14,078)\n\nBook income and tax income differences, including debt origination, structuring fees, dividends, realized gains and changes in estimates5,624 47,082 \n\nEstimated taxable income (1)88,465 98,111 \n\nTaxable income earned in prior year and carried forward for distribution in current year80,058 120,488 \n\nTaxable income earned prior to period end and carried forward for distribution next period(93,767)(147,552)\n\nDividend payable as of period end and paid in the following period24,126 22,165 \n\nTotal distributions accrued or paid to common stockholders$98,882 $93,212 \n\n___________________________\n\n(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.\n\nThe 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.\n\n101\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nThe 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 months ended March 31, 2026 and 2025:\n\nThree Months Ended\nMarch 31,\n\n20262025\n\n(in thousands)\n\nNet investment income taxes\n\nCurrent tax expense:\n\nFederal$— $164 \n\nState and other455 660 \n\nExcise381 1,341 \n\nTotal current tax expense836 2,165 \n\nDeferred tax expense (benefit):\n\nFederal3,627 1,894 \n\nState and other(1,199)(146)\n\nTotal deferred tax expense2,428 1,748 \n\nTotal net investment income tax provision$3,264 $3,913 \n\nInvestment valuation related taxes\n\nCurrent tax expense:\n\nFederal$1,443 $321 \n\nTotal current tax expense1,443 321 \n\nDeferred tax expense (benefit):\n\nFederal1,103 3,271 \n\nState and other426 (132)\n\nTotal deferred tax expense1,529 3,139 \n\nTotal investment valuation related income tax provision$2,972 $3,460 \n\nTotal income tax provision$6,236 $7,373 \n\nThe net deferred tax liability as of March 31, 2026 and December 31, 2025 was $112.9 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 March 31, 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. In addition, as of March 31, 2026, for U.S. federal income tax purposes, MSCC had net capital loss carryforwards totaling $75.1 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.\n\n102\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nNOTE H — COMMON STOCK\n\nMain 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 three months ended March 31, 2026, Main Street sold 2,428,582 shares of its common stock at a weighted-average price of $55.85 per share and raised $135.6 million of gross proceeds under the ATM Program, or net proceeds of $134.1 million after commissions to the selling agents on shares sold and offering costs. As of March 31, 2026, sales transactions representing 7,618 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 March 31, 2026, 17,102,357 shares remained available for sale under the ATM Program.\n\nDuring 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.\n\nNOTE I — DIVIDEND REINVESTMENT PLAN\n\nThe 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.\n\nSummarized DRIP information for the three months ended March 31, 2026 and 2025 is as follows:\n\nThree Months Ended March 31,\n\n20262025\n\n(dollars in thousands)\n\nDRIP participation$9,961 $9,087 \n\nShares issued for DRIP173,523 156,749 \n\nNOTE J — SHARE-BASED COMPENSATION\n\nMain 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.\n\nMain 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 March 31, 2026, is as follows:\n\nRestricted stock authorized under the plan5,000,000 \n\nLess net restricted stock granted(1,490,034)\n\nRestricted stock available for issuance as of March 31, 2026\n3,509,966 \n\n103\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nMain 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 March 31, 2026, is as follows:\n\nRestricted stock authorized under the plan300,000 \n\nLess net restricted stock granted(14,455)\n\nRestricted stock available for issuance as of March 31, 2026\n285,545 \n\nFor the three months ended March 31, 2026 and 2025, Main Street recognized total share-based compensation expense of $5.1 million and $4.8 million, respectively, related to the restricted stock issued to Main Street employees and non-employee directors.\n\nSummarized restricted stock award activity for the three months ended March 31, 2026 is as follows:\n\nThree Months Ended March 31, 2026\n\nNumberWeighted-Average Grant-Date Fair Value\n\nRestricted Stock Awards:of Shares(per share)\n\nNon-vested, December 31, 2025\n995,208 $50.15 \n\nGranted (1)23,880 58.62 \n\nVested (1)(2)\n— — \n\nForfeited(8,485)50.75 \n\nNon-vested, March 31, 2026\n1,010,603 $50.35 \n\nAggregate intrinsic value as of March 31, 2026 (in thousands) (3)\n$53,522 \n\n___________________________\n\n(1)Restricted shares generally vest over a three-year or five-year period from the grant date (as noted above).\n\n(2)No restricted shares vested during the three months ended March 31, 2026.\n\n(3)Aggregate intrinsic value is the product of total non-vested restricted shares as of March 31, 2026 and $52.96 per share, the closing price of Main Street’s common stock on March 31, 2026.\n\nAs of March 31, 2026, there was $30.0 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 2.5 years as of March 31, 2026.\n\nNOTE K — COMMITMENTS AND CONTINGENCIES\n\nAs of March 31, 2026, Main Street had the following outstanding commitments (in thousands):\n\nInvestments with equity capital commitments that have not yet funded:Amount\n\nBrightwood Capital Fund Investments\n\nBrightwood Capital Fund V, LP$100 \n\nBrightwood Capital Fund III, LP65 \n\n165 \n\nEnCap Equity - Fund XII, LP3,691 \n\n104\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nHarris Preston Fund Investments\n\nHPEP 4, L.P.4,456 \n\nHPEP 3, L.P.1,308 \n\n423 AER II, LP147 \n\n2717 HPP-MS, LP44 \n\n5,955 \n\nMS Private Loan Fund II, LP4,500 \n\nUnionRock Energy Fund Investments\n\nUnionRock Energy Fund III, LP4,409 \n\nUnionRock Energy Fund II, LP2,680 \n\n7,089 \n\nTotal Equity Commitments (1)(2)$21,400 \n\nInvestments with commitments to fund revolving loans that have not been fully drawn or term loans with additional commitments not yet funded:\n\nRoyal Cup Inc.$71,955 \n\nCRC Evans USA Bidco, Inc.38,167 \n\nMSC Income Fund, Inc.30,000 \n\nMission Critical Group24,343 \n\nTEC Services, LLC16,167 \n\nCreative Foam Corporation15,375 \n\nAuria Space, LLC11,401 \n\nMS Private Loan Fund II, LP10,000 \n\nCore Transformers9,404 \n\nAiro Purchaser, Inc.7,884 \n\nRichardson Sales Solutions7,806 \n\nMS Private Loan Fund I, LP7,700 \n\nSouth Coast Terminals Holdings, LLC7,160 \n\nAVEX Aviation Holdings, LLC6,309 \n\nAGS American Glass Services Acquisition, LLC5,360 \n\nZRG Partners, LLC5,307 \n\nSI East, LLC5,250 \n\nKennedy Fab HoldCo, LLC5,000 \n\nPavCon LLC4,650 \n\nElectro Technical Industries, LLC4,588 \n\nDirect Marketing Solutions, Inc.4,250 \n\nCody Pools, Inc.4,214 \n\nGradeEight Corp.4,113 \n\nHawk Ridge Systems, LLC4,105 \n\nChamberlin Holding LLC4,000 \n\nCGMS Parent LLC4,000 \n\nInfinity X1 Holdings, LLC4,000 \n\nUBM AcquireCo LLC4,000 \n\nMicrobe Formulas, LLC3,601 \n\nChannel Partners Intermediateco, LLC3,521 \n\nIG Investor, LLC3,200 \n\n105\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nGaryline, LLC3,029 \n\nRug Doctor, LLC.2,804 \n\nCareer Team Holdings, LLC2,700 \n\nWinter Services LLC2,622 \n\nNearshore AcquireCo, LLC2,500 \n\nIG Parent Corporation2,500 \n\nMCT Purchaserco Holding Inc.2,447 \n\nCentre Technologies Holdings, LLC2,400 \n\nCQ Fluency, LLC2,250 \n\nTitan Meter Midco Corp.2,159 \n\nRevenue Recovery Holdings, LLC2,000 \n\nGulf Manufacturing, LLC2,000 \n\nCoregistics Buyer LLC1,908 \n\nCenterPeak Holdings, LLC1,800 \n\nSPAU Holdings, LLC1,725 \n\nPinnacle TopCo, LLC1,600 \n\nColonial Electric Company LLC1,600 \n\nInsight Borrower Corporation1,441 \n\nKMS, LLC1,411 \n\nEscalent, Inc.1,326 \n\nVictory Energy Operations, LLC1,292 \n\nClad-Rex Steel, LLC1,200 \n\nITA Holdings Group, LLC1,180 \n\nB-O-F Corporation1,161 \n\nAmerican Health Staffing Group, Inc.1,000 \n\nRFG AcquireCo, LLC1,000 \n\nBehavior Development Group Holdings900 \n\nBond Brand Loyalty ULC856 \n\nComputer Data Source, LLC742 \n\nATS Operating, LLC720 \n\nJensen Jewelers of Idaho, LLC500 \n\nArborWorks, LLC351 \n\nRoof Opco, LLC311 \n\nGULF PACIFIC ACQUISITION, LLC252 \n\nMini Melts of America, LLC184 \n\nWash & Wax Systems LLC161 \n\nImplus Footcare, LLC156 \n\nObra Capital, Inc.148 \n\nBluestem Brands, Inc.86 \n\nTotal Loan Commitments$391,252 \n\nTotal Commitments$412,652 \n\n___________________________\n\n(1)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.\n\n106\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\n(2)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.\n\nMain 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 March 31, 2026.\n\nMain 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.\n\nNOTE L — RELATED PARTY TRANSACTIONS\n\nAs 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 March 31, 2026, Main Street had a receivable of $11.3 million due from the External Investment Manager, which included (i) $8.5 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) $2.9 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).\n\nFrom 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.\n\n107\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nIn January 2025, MSC Income completed a follow-on public offering of its common stock and listing on the New York Stock Exchange (the “MSIF Public Offering”). In connection with the MSIF Public Offering, Main Street entered into a share purchase plan (the “MSIF Purchase Plan”) to purchase up to $20.0 million in the aggregate of shares of MSC Income common stock in the open market for a twelve-month period beginning in March 2025, at times when the market price per share of MSC Income common stock traded below the most recently reported NAV per share of MSC Income’s common stock by certain pre-determined levels (including any updates, corrections or adjustments publicly announced by MSC Income to any previously announced NAV per share). The purchases of shares of MSC Income common stock pursuant to the MSIF Purchase Plan were intended to satisfy the conditions of Rule 10b5-1 and Rule 10b-18 under the Exchange Act and were otherwise subject to applicable law, including Regulation M, which may prohibit purchases under certain circumstances. MSC Income also entered into a share repurchase plan to purchase up to $65.0 million in the aggregate of its common stock in the open market with terms and conditions substantially similar to Main Street’s MSIF Purchase Plan for shares of MSC Income common stock, and daily purchases under the two plans were split pro rata (or as close thereto as reasonably possible) between Main Street and MSC Income based on the respective plan sizes. In connection with Main Street’s potential acquisition in excess of 3% of MSC Income’s outstanding shares of common stock as a result of any purchases pursuant to Main Street’s MSIF Purchase Plan for shares of MSC Income common stock or otherwise, Main Street entered into a Fund of Funds Investment Agreement with MSC Income. 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. Each of the MSIF Purchase Plan and MSC Income’s repurchase plan expired in March 2026 in accordance with their respective terms.\n\nA summary of Main Street’s purchases of shares of MSC Income’s common stock, each of which was purchased pursuant to the MSIF Purchase Plan, during the three months ended March 31, 2026 is as follows:\n\nPeriodTotal number of shares purchased\nAverage price paid per share (1)\n\nTotal cost (1)\nTotal number of shares purchased as part of publicly announced plans or programsApproximate dollar value of shares that may yet be purchased under the plans or programs\n\n(in thousands, except shares and per share amounts)\n\nJanuary 1 through January 31, 2026 49,261$13.36 $658 49,261$15,766 \n\nFebruary 1 through February 28, 2026134,27812.70 1,705 134,27814,063 \n\nMarch 1 through March 31, 2026 (2)199,04612.90 2,567 199,046— \n\n___________________________\n\n(1)Includes broker commissions.\n\n(2)The MSIF Purchase Plan expired on March 31, 2026; upon expiration, $11.5 million of the total $20.0 million amount authorized to be purchased under the MSIF Purchase Plan expired without being utilized.\n\nAs of March 31, 2026, Main Street owned 2,025,220 shares of MSC Income’s common stock. Each of Main Street’s purchases of MSC Income common stock, either individually or through approval of the MSIF Purchase Plan, was unanimously approved by the Board of Directors and MSC Income’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, MSC Income or the External Investment Manager. In addition, certain of Main Street’s officers and employees own shares of MSC Income and therefore have direct pecuniary interests in MSC Income.\n\nIn 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 March 31, 2026, there were no borrowings outstanding under the MSIF Note.\n\n108\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nIn 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 March 31, 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.\n\nIn 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 March 31, 2026, there were $12.3 million of borrowings outstanding under the PL Fund 2022 Note.\n\nIn 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 March 31, 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.\n\nIn 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 March 31, 2026, there were no borrowings outstanding under the PL Fund II 2024 Note.\n\n109\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\n\nMAIN STREET CAPITAL CORPORATION\n\nNotes to the Consolidated Financial Statements (Continued)\n\n(Unaudited)\n\nAs 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 March 31, 2026, $32.4 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 March 31, 2026, $10.6 million was deferred into phantom Main Street stock units, representing 199,535 shares of Main Street’s common stock. In addition, as of March 31, 2026, the Company had $21.9 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.\n\nNOTE M — SUBSEQUENT EVENTS\n\nThe Company’s management has evaluated subsequent events through the date of issuance of the consolidated financial statements, and identified the following to report:\n\nIn April 2026, Main Street issued $150.0 million in aggregate principal amount of 6.93% unsecured notes at par in a private placement (the “April 2031 Notes”). The April 2031 Notes mature on April 15, 2031 and may be redeemed in whole or in part at any time at Main Street’s option subject to certain make-whole provisions.\n\nIn May 2026, Main Street declared a supplemental dividend of $0.30 per share payable in June 2026. This supplemental dividend is in addition to the previously announced regular monthly dividends that Main Street declared of $0.26 per share for each month of April, May and June 2026, or total regular monthly dividends of $0.78 per share for the second quarter of 2026, resulting in total dividends declared for the second quarter of 2026 of $1.08 per share.\n\nIn May 2026, Main Street also declared regular monthly dividends of $0.265 per share for each month of July, August and September of 2026. These regular monthly dividends equal a total of $0.795 per share for the third quarter of 2026, representing a 3.9% increase from the regular monthly dividends paid in the third quarter of 2025. Including the regular monthly and supplemental dividends declared through the third quarter of 2026, Main Street will have paid $50.11 per share in cumulative dividends since its October 2007 initial public offering.\n\n110\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nMajority-Owned Investments\n\nBDB Holdings, LLCPreferred Equity(7)$— $(4,860)$— $12,640 $— $4,860 $7,780 \n\n12.00%Secured Debt(7)— — 53 1,773 — — 1,773 \n\nBettercloud, Inc.SF+8.25%Secured Debt(6)— — 310 6,017 2,307 8,324 — \n\nCommon Equity(6)(5,704)1,200 — 15,690 1,200 16,890 — \n\nBrewer Crane Holdings, LLC13.79%SF+10.00%Secured Debt(9)— — 173 5,016 — — 5,016 \n\nPreferred Member Units(9)— (490)30 3,460 — 490 2,970 \n\n15.00%15.00%Preferred Member Units(9)— — 12 336 12 — 348 \n\nCalifornia Splendor Holdings LLC14.00%Secured Debt(9)— (249)905 25,638 2 249 25,391 \n\nSecured Debt(9)— — 1 (11)1 — (10)\n\nPreferred Member Units(9)— (4,410)— 12,801 — 4,410 8,391 \n\n15.00%15.00%Preferred Member Units(9)— — 539 12,569 3,538 — 16,107 \n\nClad-Rex Steel, LLCSecured Debt (12)(5)— — 9 — — — — \n\n10.00%Secured Debt(5)— (6)239 9,480 6 246 9,240 \n\n10.00%Secured Debt(5)— — 23 929 — 12 917 \n\nMember Units(5)— 770 423 14,120 770 — 14,890 \n\nMember Units(5)— 240 — 1,270 240 — 1,510 \n\nCody Pools, Inc.Secured Debt (12)(8)— 5 27 — 1,685 1,685 — \n\n12.50%Secured Debt(8)— (39)1,111 34,901 40 681 34,260 \n\nPreferred Member Units(8)— (790)389 65,060 — 790 64,270 \n\nCompareNetworks Topco, LLC14.79%SF+11.00%Secured Debt(9)— (58)150 4,031 1 96 3,936 \n\nPreferred Member Units(9)— (3,750)— 7,650 — 3,750 3,900 \n\nCompass Systems & Sales, LLCSecured Debt(5)— — 1 (15)1 — (14)\n\n13.50%Secured Debt(5)— — 591 16,961 15 1,000 15,976 \n\nPreferred Equity(5)— 270 60 7,180 270 — 7,450 \n\nCybermedia Technologies, LLCSecured Debt(6)— — 3 — — — — \n\n13.00%Secured Debt(6)— — 889 27,076 16 400 26,692 \n\nPreferred Member Units(6)— 4,050 63 — 4,050 — 4,050 \n\nPreferred Equity(6)— 570 — 6,340 570 — 6,910 \n\nDatacom, LLC7.50%Secured Debt(8)— — 13 675 135 135 675 \n\n10.00%Secured Debt(8)— (1,015)194 4,169 — 1,083 3,086 \n\nPreferred Member Units(8)— — — — — — — \n\nDirect Marketing Solutions, Inc.Secured Debt (12)(9)— 27 134 1,785 1,615 3,400 — \n\nSecured Debt(9)— (3)281 23,082 — 23,082 — \n\n14.00%Secured Debt(9)— 338 1,696 — 43,857 — 43,857 \n\nPreferred Stock(9)— 4,434 — 19,760 9,234 160 28,834 \n\nGamber-Johnson Holdings, LLC11.19%SF+7.50%Secured Debt(5)— — 17 — 1,600 — 1,600 \n\n11.19%SF+7.50%Secured Debt(5)— 12 2,176 70,526 4,440 — 74,966 \n\nMember Units(5)— 4,020 1,098 113,810 4,020 — 117,830 \n\nMember Units(5)— — — 396 — 92 304 \n\nGarreco, LLCMember Units(8)— (110)— 1,830 — 110 1,720 \n\nGRT Rubber Technologies LLC9.79%SF+6.00%Secured Debt(8)— (1)78 3,146 1 1 3,146 \n\n11.79%SF+8.00%Secured Debt(8)— (12)1,207 40,493 12 12 40,493 \n\nMember Units(8)— (2,350)1,008 46,360 — 2,350 44,010 \n\n111\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nIG Investor, LLC13.00%Secured Debt (12)(6)— (2)51 1,600 2 802 800 \n\n13.00%Secured Debt(6)— (21)1,140 35,064 21 821 34,264 \n\nCommon Equity(6)— 730 — 28,030 730 — 28,760 \n\nJensen Jewelers of Idaho, LLCP+6.75%Secured Debt (12)(9)— — — — — — — \n\n13.50%P+6.75%Secured Debt(9)— — 30 878 — 150 728 \n\nMember Units(9)— 620 301 11,540 620 — 12,160 \n\nMSC Adviser I, LLCMember Units(8)— (21,960)2,868 255,020 — 21,960 233,060 \n\nNRP Jones, LLC12.00%Secured Debt(5)— (105)— 474 — 104 370 \n\nMember Units(5)— — — — — — — \n\nMember Units(5)— — — — — — — \n\nPreferred Equity(5)— — — — — — — \n\nCommon Equity(5)— — — 928 — — 928 \n\nOMi Topco, LLC12.00%Secured Debt(8)— (3)873 29,000 3 3 29,000 \n\nPreferred Member Units(8)— 1,140 3,083 77,900 1,140 — 79,040 \n\nPrinciple Environmental, LLC13.00%Secured Debt(8)— (5)164 4,897 5 5 4,897 \n\nPreferred Member Units(8)— — 1,554 15,740 — — 15,740 \n\nCommon Stock(8)— — — 750 — — 750 \n\nQuality Lease Service, LLCMember Units(7)— — — 460 — — 460 \n\nRobbins Bros. Jewelry, Inc.Secured Debt(9)— — 68 (62)— 6 (68)\n\n12.50%10.00%Secured Debt(9)— 149 — 14,029 — 61 13,968 \n\nPreferred Equity(9)— — — — — — — \n\nTrantech Radiator Topco, LLC11.50%Secured Debt(7)— — 5 — 1,600 — 1,600 \n\nSecured Debt(7)— (41)240 9,000 — 9,000 — \n\n13.50%Secured Debt(7)— 219 612 — 31,280 — 31,280 \n\nCommon Stock(7)— 3,564 — 14,920 4,930 — 19,850 \n\nCommon Equity(7)— — — 696 — — 696 \n\n9.00%Secured Debt(7)— (1)47 2,040 1 1 2,040 \n\n9.00%Secured Debt(7)— 9 4 — 2,000 — 2,000 \n\n9.00%Secured Debt(7)— 2 1 — 400 — 400 \n\nVictory Energy Operations, LLC13.00%Secured Debt (12)(8)— — 56 836 1,725 431 2,130 \n\n13.00%Secured Debt(8)— — 1,592 47,889 24 — 47,913 \n\nPreferred Equity(8)— 260 108 23,380 260 — 23,640 \n\nVolusion, LLC10.00%Secured Debt(8)— — 52 2,100 — — 2,100 \n\nPreferred Member Units(8)— — — — — — — \n\nPreferred Member Units(8)— (563)— 2,910 — 870 2,040 \n\nCommon Stock(8)— — — — — — — \n\nZiegler’s NYPD, LLC12.00%Secured Debt(8)— — 5 150 — — 150 \n\n12.00%Secured Debt(8)— (54)52 1,687 — 54 1,633 \n\nPreferred Member Units(8)— (50)— 50 — 50 — \n\nOther Controlled Investments\n\nAmerican Nuts, LLCPreferred Equity(9)$— $(470)$— $4,250 $— $470 $3,780 \n\n12.31%SF+8.50%12.31%Secured Debt(9)— — 251 8,161 251 — 8,412 \n\n12.31%SF+8.50%12.31%Secured Debt(9)— 110 251 6,582 361 — 6,943 \n\n12.36%SF+8.50%12.36%Secured Debt(9)— — 1 — 311 — 311 \n\n112\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nAnalytical Systems Keco Holdings, LLC13.25%Secured Debt(8)— — 129 3,860 3 153 3,710 \n\nPreferred Member Units(8)— 430 — 120 430 — 550 \n\nPreferred Member Units(8)— — — 6,030 — — 6,030 \n\nWarrants(8)— — — — — — — \n\nASC Interests, LLCSecured Debt(8)— — 10 400 — 400 — \n\nSecured Debt(8)— 30 37 1,502 31 1,533 — \n\nPreferred Member Units(8)(88)178 — — 178 178 — \n\nMember Units(8)(1,500)1,500 — — 1,500 1,500 — \n\nBatjer TopCo, LLCSecured Debt(8)— — — — — — — \n\n10.00%Secured Debt(8)— (5)251 9,945 6 118 9,833 \n\nPreferred Stock(8)— 620 583 8,750 620 — 9,370 \n\nBolder Panther Group, LLC12.09%SF+8.40%Secured Debt(9)— (33)3,092 101,046 33 33 101,046 \n\n8.00%Class B Preferred Member Units(9)— — 621 31,190 — — 31,190 \n\nSecured Debt(9)— — 32 — — — — \n\nBridge Capital Solutions CorporationPreferred Member Units(6)— — — — — — — \n\nWarrants(6)— — — — — — — \n\nWarrants(6)— — — — — — — \n\nCBT Nuggets, LLCMember Units(9)— (2,360)412 47,930 — 2,360 45,570 \n\nCentre Technologies Holdings, LLCSF+8.00%Secured Debt (12)(8)— — 5 — 240 240 — \n\n11.79%SF+8.00%Secured Debt(8)— (3)714 24,085 3 3 24,085 \n\nPreferred Member Units(8)— 3,230 30 42,710 3,230 — 45,940 \n\nChamberlin Holding LLCSF+6.00%Secured Debt (12)(8)— (3)9 — 3 3 — \n\n11.86%SF+8.00%Secured Debt(8)— (23)1,268 42,020 23 823 41,220 \n\nMember Units(8)— 3,980 1,523 35,530 3,980 — 39,510 \n\nMember Units(8)— (90)23 4,170 — 90 4,080 \n\nCharps, LLC14.00%Unsecured Debt(5)— (26)223 5,694 26 26 5,694 \n\nPreferred Member Units(5)— — — 16,020 — — 16,020 \n\nColonial Electric Company LLCSecured Debt (12)(6)— — 2 — — — — \n\n9.00%Secured Debt(6)— 88 206 8,779 — — 8,779 \n\nPreferred Member Units(6)— 2,120 1,455 16,830 2,120 — 18,950 \n\nCopper Trail Fund InvestmentsLP Interests (CTMH, LP)(9)— 140 — 390 140 — 530 \n\nDigital Products Holdings LLC13.69%SF+10.00%Secured Debt(5)— — 420 11,338 10 — 11,348 \n\nPreferred Member Units(5)— — 50 9,835 — — 9,835 \n\nDoral Holdings, LLCPreferred Equity(5)— 8,460 554 15,740 8,460 — 24,200 \n\n13.00%Secured Debt(5)— 184 939 26,270 230 4,000 22,500 \n\nElgin AcquireCo, LLCSF+6.00%Secured Debt(5)— — 2 (3)1 — (2)\n\n12.00%Secured Debt(5)— — 510 16,719 9 117 16,611 \n\n9.00%Secured Debt(5)— — 140 6,156 1 14 6,143 \n\nCommon Stock(5)— 140 — 5,050 140 — 5,190 \n\nCommon Stock(5)— 60 — 3,270 60 — 3,330 \n\nFlame King Holdings, LLCPreferred Equity(9)— 1,120 1,587 54,630 1,120 — 55,750 \n\n12.00%Secured Debt(9)— (32)2,014 66,000 32 32 66,000 \n\nHarris Preston Fund InvestmentsLP Interests (2717 MH, L.P.)(8)— 70 — 1,795 70 — 1,865 \n\n113\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nLP Interests (2717 HPP-MS, L.P.) (12)(8)— (190)282 447 — 190 257 \n\nLP Interests (2717 GRE-LP, L.P.)(8)— 75 — 441 75 — 516 \n\nLP Interests (423 COR, L.P.)(8)— 95 — 5,244 95 — 5,339 \n\nHarrison Hydra-Gen, Ltd.Common Stock(8)— — — 7,080 — — 7,080 \n\nJTI Electrical & Mechanical, LLC9.92%SF+6.00%9.92%Secured Debt(9)— (27,772)— 36,429 — 27,772 8,657 \n\n15.00%15.00%Secured Debt(9)— (939)— 939 — 939 — \n\n8.92%SF+5.00%8.92%Secured Debt(9)— — — 6,316 213 — 6,529 \n\nCommon Equity(9)— — — — — — — \n\nJorVet Holdings, LLC12.00%Secured Debt(9)— — 711 23,263 12 — 23,275 \n\nPreferred Equity(9)— 3 106 10,990 3 — 10,993 \n\nKBK Industries, LLCMember Units(5)17,327 (17,396)1,603 18,180 17,326 35,506 — \n\nSecured Debt(5)— — — — — — — \n\nSecured Debt(5)— (34)51 7,200 34 7,234 — \n\nKickhaefer Manufacturing Company, LLC11.50%Secured Debt(5)— — 294 10,195 1 — 10,196 \n\n9.00%Secured Debt(5)— — 88 3,878 — 12 3,866 \n\nPreferred Equity(5)— 1,170 — 17,180 1,170 — 18,350 \n\nMember Units(5)— — 24 4,190 — — 4,190 \n\nLegacy Swim Group13.00%Secured Debt(7)— — 1,056 31,691 16 — 31,707 \n\nPreferred Equity(7)— — 186 14,996 — — 14,996 \n\nMetalforming Holdings, LLCSecured Debt(7)— — 3 — — — — \n\n8.75%Secured Debt(7)— (8)386 17,237 8 8 17,237 \n\n8.00%8.00%Preferred Equity(7)— — 120 5,916 — — 5,916 \n\nCommon Stock(7)— 290 490 9,770 290 — 10,060 \n\nMoffitt Holdings, LLC13.00%Secured Debt(8)— — 1,115 33,840 20 438 33,422 \n\nPreferred Equity(8)— — — 15,560 — — 15,560 \n\nMS Private Loan Fund I, LP6.69%SF+3.00%Secured Debt (12)(8)— — 175 12,000 4,300 4,000 12,300 \n\nLP Interests(8)— (1,104)363 14,697 — 1,104 13,593 \n\nMS Private Loan Fund II, LPSF+3.00%Secured Debt (12)(8)— — 12 (84)257 250 (77)\n\nLP Interests (12)(8)— 89 498 11,064 89 — 11,153 \n\nMSC Income Fund, Inc.Common Equity(8)— (1,675)729 21,412 4,930 1,675 24,667 \n\nSF+4.50%Secured Debt (12)(8)— — 53 — 23,853 24,000 (147)\n\nMVI MSO, LLC13.00%Secured Debt(6)— — 325 9,768 4 — 9,772 \n\nPreferred Equity(6)— (690)81 4,770 — 690 4,080 \n\nNAPCO Precast, LLCMember Units(8)— (3,330)42 14,480 — 3,330 11,150 \n\nMember Units(8)— — 7 568 — — 568 \n\nNello Industries Investco, LLCSecured Debt(5)— (205)550 32,072 — 32,072 — \n\n12.50%Secured Debt(5)— 205 818 — 41,272 — 41,272 \n\nPreferred Equity(5)— 6,220 274 23,330 6,220 — 29,550 \n\nNexRev LLCPreferred Member Units(8)— (280)24 12,870 — 280 12,590 \n\nNuStep, LLC10.29%SF+6.50%Secured Debt(5)— — 63 1,000 1,600 — 2,600 \n\n12.00%Secured Debt(5)— — 571 18,440 — 274 18,166 \n\nPreferred Member Units(5)— (1,270)— 12,200 — 1,270 10,930 \n\n114\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nPreferred Member Units(5)— 180 — 6,110 180 — 6,290 \n\nOrttech Holdings, LLCSF+11.00%Secured Debt(5)— — 16 612 — 612 — \n\n14.79%SF+11.00%Secured Debt(5)— (10)779 20,760 10 10 20,760 \n\nPreferred Stock(5)— — 60 13,450 — — 13,450 \n\nPinnacle TopCo, LLCSecured Debt (12)(8)— (1)3 — 1 1 — \n\n13.00%Secured Debt(8)— (18)885 27,200 18 818 26,400 \n\nPreferred Equity(8)— — 332 20,440 — — 20,440 \n\nPPL RVs, Inc.SF+8.75%Secured Debt(8)— — — — — — — \n\n12.60%SF+8.75%Secured Debt(8)— (9)487 15,191 9 9 15,191 \n\nCommon Stock(8)— (1,620)— 17,330 — 1,620 15,710 \n\nCommon Stock(8)— — — 575 — — 575 \n\nRiver Aggregates, LLCMember Units(8)— — 25 9,700 — — 9,700 \n\nSpring Engineering Holdings, LLC13.00%Secured Debt(7)— — 754 — 23,165 — 23,165 \n\nPreferred Member Units(7)— — — — 4,650 — 4,650 \n\nTedder Industries, LLC12.00%12.00%Secured Debt(9)— (82)433 962 433 82 1,313 \n\n12.00%12.00%Secured Debt(9)— 2,553 — 2,827 2,553 — 5,380 \n\nPreferred Member Units(9)— — — — — — — \n\nPreferred Member Units(9)— — — — — — — \n\nPreferred Member Units(9)— — — — — — — \n\nTeleverde, LLCMember Units(8)— (2,551)— 4,822 — 2,551 2,271 \n\nPreferred Stock(8)— — — 1,794 — — 1,794 \n\nTrinity Medical Holdings, LLC13.00%Secured Debt(7)— — 1,931 57,944 30 — 57,974 \n\nPreferred Equity(7)— — — 22,500 — — 22,500 \n\nVVS Holdco LLCSF+6.00%Secured Debt(5)— — 4 — — — — \n\n11.50%Secured Debt(5)— — 702 23,956 12 — 23,968 \n\nPreferred Equity(5)— — — 12,240 — — 12,240 \n\nOther\n\nAmounts related to investments transferred to or from other 1940 Act classification during the period— — — — — — — \n\nTotal Control investments$10,035 $(47,208)$61,664 $2,569,626 $280,850 $267,466 $2,583,010 \n\nAffiliate Investments\n\nAAC Holdings, Inc.20.00%20.00%Secured Debt(7)$— $— $45 $895 $45 $— $940 \n\nPreferred Equity(7)— (2,060)— 2,080 — 2,060 20 \n\n20.00%20.00%Secured Debt(7)— (212)— 2,756 — 212 2,544 \n\n20.00%20.00%Secured Debt(7)— (212)— 2,756 — 212 2,544 \n\nCommon Stock(7)— — — — — — — \n\n21.00%21.00%Secured Debt(7)— 105 45 503 580 — 1,083 \n\nBLI Acquisition, LLC14.00%Secured Debt(7)— — 566 — 13,072 — 13,072 \n\nMember Units(7)— — — — 2,100 — 2,100 \n\nBoccella Precast Products LLC10.00%Secured Debt(6)— — — 256 — — 256 \n\nMember Units(6)— (190)— 2,820 — 190 2,630 \n\nBuca C, LLC15.00%15.00%Secured Debt(7)— — — — — — — \n\n6.00%6.00%Preferred Member Units(7)— — — — — — — \n\n15.00%15.00%Secured Debt(7)— (51)— — 51 51 — \n\n115\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nCareer Team Holdings, LLCSF+6.00%Secured Debt (12)(6)— — 5 (45)2 — (43)\n\n13.00%Secured Debt(6)— — 731 21,551 19 — 21,570 \n\nCommon Stock(6)— — — 5,370 — — 5,370 \n\nCGMS Parent LLC13.00%Secured Debt(6)— — 821 24,754 14 156 24,612 \n\nSecured Debt (12)(6)— — 7 (39)2 — (37)\n\nPreferred Equity(6)— — 195 10,000 — — 10,000 \n\nClassic H&G Holdings, LLCPreferred Member Units(6)— 90 — 2,040 90 — 2,130 \n\nCongruent Credit Opportunities FundsLP Interests (Congruent Credit Opportunities Fund III, LP)(8)— 812 — 24 812 — 836 \n\nConnect Telecommunications Solutions Holdings, Inc.13.00%Secured Debt(6)— — 786 24,153 18 900 23,271 \n\nPreferred Equity(6)— — — 12,596 — — 12,596 \n\nDMA Industries, LLC10.00%Secured Debt(7)— (3)323 12,800 3 3 12,800 \n\nPreferred Equity(7)— 4,500 — 9,174 4,500 — 13,674 \n\n10.00%Secured Debt(7)— — 14 560 — — 560 \n\n15.00%15.00%Preferred Equity(7)— 2,321 139 5,424 2,459 — 7,883 \n\nDos Rios PartnersLP Interests (Dos Rios Partners, LP)(8)— — — 8,027 — — 8,027 \n\nLP Interests (Dos Rios Partners - A, LP)(8)— — — 2,549 — — 2,549 \n\nDos Rios Stone Products LLCClass A Preferred Units(8)— — — — — — — \n\nEIG Fund InvestmentsLP Interests (EIG Global Private Debt Fund-A, L.P.)(8)— — — 37 — — 37 \n\nFCC Intermediate Holdco, LLC13.00%Secured Debt(5)— (232)1,231 31,160 232 642 30,750 \n\nWarrants(5)— (480)180 15,140 — 480 14,660 \n\nFreeport Financial FundsLP Interests (Freeport Financial SBIC Fund LP)(5)— (54)— 1,600 — 54 1,546 \n\nLP Interests (Freeport First Lien Loan Fund III LP)(5)— — — 193 — — 193 \n\nFRG AcquireCo, LLCSecured Debt(7)— — 4 (19)2 — (17)\n\n13.50%Secured Debt(7)— — 362 10,402 23 2,018 8,407 \n\nPreferred Equity(7)— — — 3,500 — — 3,500 \n\nGFG Group, LLC8.00%Secured Debt(5)— (3)284 14,053 3 3 14,053 \n\nPreferred Member Units(5)— — 140 10,940 — — 10,940 \n\nGulf Manufacturing, LLC11.82%SF+8.13%Secured Debt (12)(8)— — 22 (32)3,003 — 2,971 \n\n11.82%SF+8.13%Secured Debt(8)— — 1,182 36,784 83 500 36,367 \n\nMember Units(8)— (100)142 6,600 — 100 6,500 \n\nCommon Stock(8)— — 18 1,450 — — 1,450 \n\nPreferred Equity(8)— — — 5,190 — — 5,190 \n\nHarris Preston Fund InvestmentsLP Interests (423 HAR, L.P.)(8)— — — 1,226 — — 1,226 \n\nLP Interests (HPEP 3, L.P.) (12)(8)— (128)— 4,116 — 380 3,736 \n\nLP Interests (HPEP 4, L.P.) (12)(8)— 787 — 7,463 2,072 — 9,535 \n\nHawk Ridge Systems, LLCSecured Debt(9)— — — 3,219 — 3,219 — \n\nSF+6.00%Secured Debt (12)(9)— 23 7 — — — — \n\n116\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nSecured Debt(9)— — — 45,256 — 45,256 — \n\n11.00%Secured Debt(9)— 271 1,772 — 49,871 — 49,871 \n\nPreferred Member Units(9)— — — 26,310 — — 26,310 \n\nPreferred Member Units(9)— — — 1,380 — — 1,380 \n\nHouston Plating and Coatings, LLC10.00%Unsecured Convertible Debt(8)— — 75 3,000 — — 3,000 \n\nMember Units(8)— (210)49 3,720 — 210 3,510 \n\nIndependent Pet Partners Intermediate Holdings, LLCCommon Equity(6)— — — 19,000 — — 19,000 \n\nInfinity X1 Holdings, LLCPreferred Equity(9)— 330 180 8,010 330 — 8,340 \n\n12.00%Secured Debt(9)— (1)454 15,299 1 226 15,074 \n\nSecured Debt (12)(9)— — 44 — 4,000 4,000 — \n\nIntegral Energy Services11.42%SF+7.50%Secured Debt(8)— (269)363 12,042 13 269 11,786 \n\n10.00%10.00%Preferred Equity(8)— — 7 420 7 — 427 \n\nCommon Stock(8)— (70)— 350 — 70 280 \n\n10.00%10.00%Preferred Equity(8)— — — 404 — — 404 \n\nIron-Main Investments, LLC13.00%Secured Debt(5)— — 148 4,500 2 — 4,502 \n\n13.00%Secured Debt(5)— — 97 2,931 1 — 2,932 \n\n13.00%Secured Debt(5)— — 291 8,944 — — 8,944 \n\n13.00%Secured Debt(5)— — 577 17,569 7 207 17,369 \n\n13.00%Secured Debt(5)— — 323 9,421 20 353 9,088 \n\nCommon Stock(5)— 150 — 2,700 150 — 2,850 \n\n25.00%25.00%Preferred Equity(5)— 70 — 1,030 70 — 1,100 \n\n25.00%25.00%Preferred Equity(5)— — — 155 — — 155 \n\nITA Holdings Group, LLC10.84%SF+7.00%Secured Debt(8)— (1)33 1,180 1 1 1,180 \n\n10.84%SF+7.00%Secured Debt(8)— (2)146 5,310 2 2 5,310 \n\n10.84%SF+7.00%Secured Debt(8)— (67)200 4,935 67 67 4,935 \n\n10.84%SF+7.00%Secured Debt(8)— (67)200 4,935 67 67 4,935 \n\n10.84%SF+7.00%Secured Debt(8)— (1)49 1,770 1 1 1,770 \n\n10.84%SF+7.00%Secured Debt(8)— — — — 2,360 — 2,360 \n\nWarrants(8)— — 1,125 15,230 — — 15,230 \n\nCenterPeak Holdings, LLC15.00%Secured Debt (12)(8)— (2)71 1,800 2 2 1,800 \n\n15.00%Secured Debt(8)— (1)943 25,107 1 1 25,107 \n\nPreferred Equity(8)— 1,240 1,141 24,340 1,240 — 25,580 \n\nKennedy Fab HoldCo, LLCSecured Debt (12)(8)— — 22 — — 5 (5)\n\n13.00%Secured Debt(8)— — 533 — 29,705 — 29,705 \n\n9.00%Secured Debt(8)— — 301 — 19,961 — 19,961 \n\nPreferred Equity(8)— — — — 11,490 — 11,490 \n\nKMS, LLC12.50%Secured Debt(5)— 22 41 1,146 27 — 1,173 \n\n12.50%Secured Debt(5)— — 31 1,007 — — 1,007 \n\nPreferred Equity(5)— — — 6,270 — — 6,270 \n\n9.20%SF+5.50%Secured Debt (12)(5)— 36 15 (40)1,343 — 1,303 \n\nMills Fleet Farm Group, LLC9.81%SF+5.50%9.81%Secured Debt(5)— — 71 2,796 71 — 2,867 \n\n9.17%SF+5.50%9.17%Secured Debt(5)— — 40 1,664 42 — 1,706 \n\nPreferred Equity(5)— (1,105)278 12,557 278 1,105 11,730 \n\nMoneyThumb Acquisition, LLC14.00%Secured Debt(9)— — 342 7,696 63 596 7,163 \n\n117\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\n12.00%12.00%Preferred Member Units(9)— 130 58 2,112 188 — 2,300 \n\nWarrants(9)— 70 — 800 70 — 870 \n\nNearshore AcquireCo, LLCSecured Debt (12)(8)— — 3 (24)1 — (23)\n\nSecured Debt(8)— — 3 (61)3 — (58)\n\n13.00%Secured Debt(8)— — 723 21,688 11 — 21,699 \n\nPreferred Equity(8)— — — 5,260 — — 5,260 \n\nOnAsset Intelligence, Inc.12.00%12.00%Secured Debt(8)— — — 141 — — 141 \n\n12.00%12.00%Secured Debt(8)— — — 144 — — 144 \n\n12.00%12.00%Secured Debt(8)— — — 309 — — 309 \n\n12.00%12.00%Secured Debt(8)— — — 645 1 — 646 \n\n10.00%10.00%Unsecured Debt(8)— — — — — — — \n\n7.00%7.00%Preferred Stock(8)— — — — — — — \n\nCommon Stock(8)— — — — — — — \n\nWarrants(8)— — — — — — — \n\nOneliance, LLCPreferred Stock(7)— — 13 3,270 — — 3,270 \n\nRA Outdoors LLC10.56%SF+6.75%10.56%Secured Debt(8)— — 38 1,182 37 — 1,219 \n\n10.56%SF+6.75%10.56%Secured Debt(8)— (2)397 12,355 398 2 12,751 \n\n10.59%SF+6.75%10.59%Secured Debt(8)— (80)— — 465 80 385 \n\n10.59%SF+6.75%10.59%Secured Debt(8)— (78)— — 453 78 375 \n\nRevenue Recovery Holdings, LLCSecured Debt (12)(7)— — 3 (18)1 — (17)\n\n13.00%Secured Debt(7)— — 221 6,640 3 — 6,643 \n\nPreferred Equity(7)— 911 — 1,049 911 — 1,960 \n\nRFG AcquireCo, LLCSecured Debt (12)(7)— — 3 (7)1 — (6)\n\n13.50%Secured Debt(7)— — 267 7,932 4 — 7,936 \n\nSecured Debt(7)— — 300 33,700 — 33,700 — \n\n13.50%Secured Debt(7)— — 1,505 — 41,398 — 41,398 \n\nPreferred Equity(7)— — — 12,771 — — 12,771 \n\nSI East, LLC11.80%Secured Debt (12)(7)— (1)72 2,250 1 1 2,250 \n\n12.86%Secured Debt(7)— (8)2,159 66,850 8 8 66,850 \n\nPreferred Member Units(7)— — 269 17,190 — — 17,190 \n\nSlick Innovations, LLC14.00%Secured Debt(6)— (17)879 24,680 17 417 24,280 \n\nCommon Stock(6)— 430 — 2,160 430 — 2,590 \n\nSpecialized Aviation Holdings, LLC13.00%Secured Debt(7)— — 825 28,362 61 5,375 23,048 \n\nPreferred Stock(7)— — 338 15,000 — — 15,000 \n\nStudent Resource Center, LLC8.50%8.50%Secured Debt(6)— 197 — 1,438 198 — 1,636 \n\n8.50%8.50%Secured Debt(6)— — 4 780 4 — 784 \n\nSuperior Rigging & Erecting Co.Preferred Member Units(7)— 310 — 17,500 310 — 17,810 \n\nThe Affiliati Network, LLCPreferred Stock(9)— — 128 6,400 — — 6,400 \n\nPreferred Stock(9)— — — 313 — — 313 \n\nUnionRock Energy Fund II, LPLP Interests (12)(9)— — — 4,164 205 134 4,235 \n\nUnionRock Energy Fund III, LPLP Interests (12)(9)— — — 5,165 372 130 5,407 \n\nUniTek Global Services, Inc.20.00%20.00%Preferred Stock(6)— — — 9,388 — — 9,388 \n\n19.00%19.00%Preferred Stock(6)— — — — — — — \n\n13.50%13.50%Preferred Stock(6)— — — — — — — \n\n118\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2025 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2026 Fair Value (13)\n\nUrgent DSO LLC13.50%Secured Debt(5)— (191)301 8,672 5 191 8,486 \n\nPreferred Equity(5)— (1,796)— 4,356 — 1,796 2,560 \n\nWildcats Topco LLCCommon Equity(5)— 70 135 22,760 70 — 22,830 \n\nWorld Micro Holdings, LLC13.00%Secured Debt(7)— — 326 9,848 5 — 9,853 \n\nPreferred Equity(7)— — — 3,845 — — 3,845 \n\nOther\n\nAmounts related to investments transferred to or from other 1940 Act classification during the period— — — — — — — \n\nTotal Affiliate investments$— $5,181 $26,181 $965,179 $196,009 $105,530 $1,055,658 \n\n___________________________\n\n(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.\n\n(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.”\n\n(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.\n\n(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.\n\n(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $582,664. This represented 18.8% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $179,014. This represented 5.8% of net assets as of March 31, 2026.\n\n(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $143,057. This represented 4.6% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $160,033. This represented 5.2% of net assets as of March 31, 2026.\n\n(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $256,084. This represented 8.3% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $298,911. This represented 9.7% of net assets as of March 31, 2026.\n\n119\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2026\n\n(dollars in thousands)\n\n(Unaudited)\n\n(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $1,059,998. This represented 34.3% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $290,037. This represented 9.4% of net assets as of March 31, 2026.\n\n(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2026 for Control investments located in this region was $541,207. This represented 17.5% of net assets as of March 31, 2026. The fair value as of March 31, 2026 for Affiliate investments located in this region was $127,663. This represented 4.1% of net assets as of March 31, 2026.\n\n(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.\n\n(11)This schedule should be read in conjunction with the Consolidated Schedule of Investments and Notes to the Consolidated Financial Statements included in Item 1. Consolidated Financial Statements of this Quarterly Report on Form 10-Q. Supplemental information can be located within the Consolidated Schedule of Investments including end of period interest rate, preferred dividend rate, maturity date, investments not paid currently in cash and investments whose value was determined using significant unobservable inputs.\n\n(12)Investment has an unfunded commitment as of March 31, 2026 (see Note K — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments.\n\n(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.\n\n120\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nMajority-Owned Investments\n\nAnalytical Systems Keco Holdings, LLCSecured Debt(8)$— $— $— $— $— $— $— \n\n17.50%Secured Debt(8)— — 180 4,048 3 50 4,001 \n\nPreferred Member Units(8)— — — — — — — \n\nPreferred Member Units(8)— (160)— 5,300 — 160 5,140 \n\nWarrants(8)— — — — — — — \n\nBDB Holdings, LLCPreferred Equity(7)— — — 18,920 — — 18,920 \n\n12.00%Secured Debt (12)(7)— — 4 — 420 — 420 \n\nBrewer Crane Holdings, LLC14.48%SF+10.00%Secured Debt(9)— — 181 5,016 — — 5,016 \n\nPreferred Member Units(9)— (570)30 4,680 — 570 4,110 \n\nCafé Brazil, LLCMember Units(8)— (100)— 1,200 — 100 1,100 \n\nCalifornia Splendor Holdings LLC14.00%4.00%Secured Debt(9)— 388 984 28,465 582 1,092 27,955 \n\n4.00%Secured Debt (12)(9)— — 40 1,506 14 1,539 (19)\n\nPreferred Member Units(9)— — 63 22,215 — — 22,215 \n\n15.00%15.00%Preferred Member Units(9)— — 409 10,909 409 — 11,318 \n\nClad-Rex Steel, LLCSecured Debt (12)(5)— — 1 — — — — \n\n9.00%Secured Debt(5)— 2 159 6,760 — 240 6,520 \n\n10.00%Secured Debt(5)— — 24 973 — 11 962 \n\nMember Units(5)— 50 443 10,990 50 — 11,040 \n\nMember Units(5)— 320 — 950 320 — 1,270 \n\nCody Pools, Inc.Secured Debt (12)(8)— (2)7 — 2 2 — \n\n12.50%Secured Debt(8)— (3)1,201 39,227 3 1,515 37,715 \n\nPreferred Member Units(8)— 1,690 1,284 67,810 1,690 — 69,500 \n\nCompareNetworks Topco, LLC13.48%SF+9.00%Secured Debt(9)— — 107 2,903 7 210 2,700 \n\nPreferred Member Units(9)— (650)— 11,260 — 650 10,610 \n\nCybermedia Technologies, LLCSecured Debt(6)— — 3 — — — — \n\n13.00%Secured Debt(6)— (509)901 27,116 15 509 26,622 \n\nPreferred Member Units(6)— (5,980)63 15,000 — 5,980 9,020 \n\nDatacom, LLC7.50%Secured Debt(8)— — 17 493 586 135 944 \n\n10.00%Secured Debt(8)— — 235 7,947 35 68 7,914 \n\nPreferred Member Units(8)— — — 240 — — 240 \n\nDirect Marketing Solutions, Inc.Secured Debt(9)— (7)11 — 7 7 — \n\n14.00%Secured Debt(9)— (10)837 23,902 10 420 23,492 \n\nPreferred Stock(9)— 540 — 17,930 540 — 18,470 \n\nGamber-Johnson Holdings, LLCSF+7.50%Secured Debt (12)(5)— — 2 — — — — \n\n11.50%SF+7.50%Secured Debt (12)(5)— (12)2,114 73,126 12 12 73,126 \n\nMember Units(5)— — 1,903 114,750 — — 114,750 \n\nGarreco, LLCMember Units(8)— (230)19 2,060 — 230 1,830 \n\nGRT Rubber Technologies LLC10.48%SF+6.00%Secured Debt (12)(8)— (1)83 3,146 1 1 3,146 \n\n12.48%SF+8.00%Secured Debt(8)— (12)1,273 40,493 12 12 40,493 \n\nMember Units(8)— — 1,506 45,890 — — 45,890 \n\nGulf Publishing Holdings, LLCSF+9.50%Secured Debt(8)— — — — — — — \n\n12.50%12.50%Secured Debt(8)— 298 — 1,518 220 — 1,738 \n\nPreferred Equity(8)— — — — — — — \n\n121\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nMember Units(8)— — — — — — — \n\nIG Investor, LLC13.00%Secured Debt (12)(6)— 26 57 1,572 28 — 1,600 \n\n13.00%Secured Debt(6)— 227 1,160 35,257 247 440 35,064 \n\nCommon Equity(6)— 1,550 — 16,230 1,550 — 17,780 \n\nJensen Jewelers of Idaho, LLCP+6.75%Secured Debt (12)(9)— — — — — — — \n\n14.25%P+6.75%Secured Debt(9)— — 53 1,498 — 160 1,338 \n\nMember Units(9)— (280)260 11,820 — 280 11,540 \n\nMSC Adviser I, LLCMember Units(8)— (7,830)2,493 246,000 — 7,830 238,170 \n\nMystic Logistics Holdings, LLCSecured Debt (12)(6)— — 1 — — — — \n\n10.00%Secured Debt(6)— (2)145 5,746 2 2 5,746 \n\nCommon Stock(6)— — 942 26,370 — — 26,370 \n\nNRP Jones, LLC12.00%Secured Debt(5)— — 70 2,178 5 — 2,183 \n\nMember Units(5)— (1,178)— 2,696 — 1,178 1,518 \n\nMember Units(5)— (32)— 94 — 32 62 \n\nPreferred Equity(5)— 756 — — 1,238 — 1,238 \n\nOMi Topco, LLCSecured Debt(8)— (30)207 9,000 — 9,000 — \n\nPreferred Member Units(8)— 3,100 7,487 72,720 3,100 — 75,820 \n\n12.00%Secured Debt(8)— 49 101 — 14,000 — 14,000 \n\nPrinciple Environmental, LLC13.00%Secured Debt(8)— — 164 4,861 4 — 4,865 \n\nPreferred Member Units(8)— 350 327 12,600 350 — 12,950 \n\nCommon Stock(8)— 20 — 600 20 — 620 \n\nQuality Lease Service, LLCMember Units(7)— — — 460 — — 460 \n\nRobbins Bros. Jewelry, Inc.10.00%Secured Debt(9)— — — (39)— 6 (45)\n\n12.50%10.00%Secured Debt(9)— — — 14,562 — 210 14,352 \n\nPreferred Equity(9)— — — — — — — \n\nTrantech Radiator Topco, LLCSecured Debt (12)(7)— — 1 (1)— — (1)\n\n13.50%Secured Debt(7)— — 274 7,855 7 — 7,862 \n\nCommon Stock(7)— — 29 8,570 — — 8,570 \n\nVictory Energy Operations, LLCSecured Debt(8)— — 6 (33)2 — (31)\n\n13.00%Secured Debt(8)— — 1,592 47,792 24 — 47,816 \n\nPreferred Equity(8)— — 116 22,686 — — 22,686 \n\nVolusion, LLC10.00%Secured Debt(8)— — 52 2,100 — — 2,100 \n\nPreferred Member Units(8)— — — — — — — \n\nPreferred Member Units(8)22 (1,528)— 7,003 21 1,854 5,170 \n\nPreferred Member Units(8)— — — — — — — \n\nCommon Stock(8)— — — — — — — \n\nZiegler’s NYPD, LLC12.00%Secured Debt(8)— — 54 1,750 — — 1,750 \n\nPreferred Member Units(8)— (160)— 320 — 160 160 \n\nWarrants(8)— — — — — — — \n\nOther controlled investments\n\n2717 MH, L.P.LP Interests (2717 MH, L.P.)(8)— (166)— 8,818 80 166 8,732 \n\nLP Interests (2717 HPP-MS, L.P.)(8)— — — 383 — — 383 \n\n122\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nLP Interests (2717 GRE-LP, L.P.)(8)— — — 441 — — 441 \n\nHPEP 423 COR, LPLP Interests (423 COR, L.P.)(8)— 83 — 4,187 83 — 4,270 \n\nAmerican Nuts, LLCPreferred Equity(9)— — — — 8,970 — 8,970 \n\n12.95%SF+8.50%12.95%Secured Debt(9)— — 11 — 7,410 — 7,410 \n\n12.95%SF+8.50%12.95%Secured Debt(9)— — 11 — 7,410 — 7,410 \n\nASC Interests, LLC13.00%Secured Debt(8)— — 13 400 — — 400 \n\n13.00%Secured Debt(8)— — 53 1,598 — 73 1,525 \n\nPreferred Member Units(8)— — — — — — — \n\nMember Units(8)— — — — — — — \n\nATS Workholding, LLC5.00%Secured Debt(9)— (155)— 113 42 155 — \n\n5.00%Secured Debt(9)— (143)— 143 — 143 — \n\nPreferred Member Units(9)— — — — — — — \n\nBarfly Ventures, LLC7.00%Secured Debt (12)(5)— — 12 711 — — 711 \n\nMember Units(5)— (100)1,103 5,860 — 100 5,760 \n\nBatjer TopCo, LLC11.00%Secured Debt (12)(8)— — 10 446 — 270 176 \n\n11.00%Secured Debt (12)(8)— — 7 270 — — 270 \n\n11.00%Secured Debt(8)— — 279 10,529 5 — 10,534 \n\nPreferred Stock(8)— — 188 5,160 — — 5,160 \n\nBolder Panther Group, LLC11.70%SF+7.33%Secured Debt(9)— (35)2,987 101,643 34 631 101,046 \n\n8.00%Class B Preferred Member Units(9)— 480 795 30,520 480 — 31,000 \n\nSecured Debt(9)— — 40 — — — — \n\nBridge Capital Solutions CorporationPreferred Member Units(6)— — — — — — — \n\nWarrants(6)— — — — — — — \n\nWarrants(6)— — — — — — — \n\nCBT Nuggets, LLCMember Units(9)— — 824 49,540 — — 49,540 \n\nCentre Technologies Holdings, LLCSF+10.00%Secured Debt (12)(8)— — 3 — — — — \n\n14.48%SF+10.00%Secured Debt(8)— (5)876 25,534 5 1,075 24,464 \n\nPreferred Member Units(8)— 1,870 30 12,410 1,870 — 14,280 \n\nChamberlin Holding LLCSF+6.00%Secured Debt (12)(8)— (22)24 — 22 22 — \n\n12.49%SF+8.00%Secured Debt(8)— 3 503 15,620 1,600 — 17,220 \n\nMember Units(8)— 1,130 2,791 33,110 1,130 — 34,240 \n\nMember Units(8)— 80 23 3,550 80 — 3,630 \n\nCharps, LLC10.00%Unsecured Debt(5)— (23)219 5,694 23 23 5,694 \n\nPreferred Member Units(5)— — 329 15,580 — — 15,580 \n\nColonial Electric Company LLCSecured Debt (12)(6)— — 2 — — — — \n\n12.00%Secured Debt(6)— (8)428 14,310 8 323 13,995 \n\nPreferred Member Units(6)— 760 414 13,570 760 — 14,330 \n\nCompass Systems & Sales, LLCSecured Debt(5)— — 1 (21)2 — (19)\n\n13.50%Secured Debt(5)— — 589 17,067 9 — 17,076 \n\nPreferred Equity(5)— 4 60 7,450 4 — 7,454 \n\nCopper Trail Fund InvestmentsLP Interests (CTMH, LP)(9)— — — 500 15 — 515 \n\nDigital Products Holdings LLC14.38%SF+10.00%Secured Debt(5)— — 453 12,422 12 330 12,104 \n\n123\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nPreferred Member Units(5)— — 50 9,835 — — 9,835 \n\nElgin AcquireCo, LLCSF+6.00%Secured Debt(5)— — 2 (5)— — (5)\n\n12.00%Secured Debt(5)— — 551 17,969 9 70 17,908 \n\n9.00%Secured Debt(5)— — 141 6,207 1 13 6,195 \n\nCommon Stock(5)— (690)— 5,730 — 690 5,040 \n\nCommon Stock(5)— 50 — 3,050 50 — 3,100 \n\nHarrison Hydra-Gen, Ltd.Common Stock(8)— 50 — 7,010 50 — 7,060 \n\nJorVet Holdings, LLC12.00%Secured Debt(9)— — 711 23,216 12 — 23,228 \n\nPreferred Equity(9)— 490 285 13,180 490 — 13,670 \n\nKBK Industries, LLC9.00%Secured Debt(5)— (4)85 3,700 4 304 3,400 \n\nMember Units(5)— — 707 25,180 — — 25,180 \n\nKickhaefer Manufacturing Company, LLC11.50%Secured Debt(5)— — 423 14,987 2 800 14,189 \n\n9.00%Secured Debt(5)— — 89 3,926 — 12 3,914 \n\nPreferred Equity(5)— 650 — 12,240 650 — 12,890 \n\nMember Units(5)— — 30 2,710 — — 2,710 \n\nMetalforming Holdings, LLCSecured Debt (12)(7)— — 6 (11)4 — (7)\n\n9.75%Secured Debt(7)— — 498 20,844 20 1,931 18,933 \n\n8.00%8.00%Preferred Equity(7)— (481)604 6,397 — 481 5,916 \n\nCommon Stock(7)— 520 698 6,850 520 — 7,370 \n\nMoffitt Holdings, LLC13.00%(8)— — 520 — 34,656 — 34,656 \n\n(8)— — — — 14,300 — 14,300 \n\nMS Private Loan Fund I, LP5.00%Secured Debt(8)— — 55 1,600 10,100 1,700 10,000 \n\nLP Interests (12)(8)— (177)479 14,034 — 177 13,857 \n\nMS Private Loan Fund II, LPSF+3.50%Secured Debt (12)(8)— — 12 (59)605 650 (104)\n\nLP Interests (12)(8)— — 219 7,843 708 — 8,551 \n\nMSC Income Fund, Inc.Common Equity(8)— 202 495 16,810 4,702 — 21,512 \n\nMVI MSO, LLC13.00%(6)— — 199 — 9,753 — 9,753 \n\n(6)— — — — 2,700 — 2,700 \n\nNAPCO Precast, LLCMember Units(8)— (160)137 9,050 — 160 8,890 \n\nNello Industries Investco, LLCSF+6.50%Secured Debt(5)— — 16 (16)16 — — \n\n13.50%Secured Debt(5)— — 932 26,959 13 — 26,972 \n\nCommon Equity(5)— 940 171 15,560 940 — 16,500 \n\nNexRev LLCSecured Debt(8)— — — — — — — \n\nSecured Debt(8)— (9)151 9,811 9 9,820 — \n\nPreferred Member Units(8)— 1,510 413 11,910 1,510 — 13,420 \n\nNuStep, LLC10.98%SF+6.50%Secured Debt(5)— — 99 3,600 — — 3,600 \n\n12.00%Secured Debt(5)— — 554 18,439 1 — 18,440 \n\nPreferred Member Units(5)— 650 — 11,550 650 — 12,200 \n\nPreferred Member Units(5)— — — 6,000 — — 6,000 \n\nOrttech Holdings, LLCSF+11.00%Secured Debt (12)(5)— — — — — — — \n\n15.48%SF+11.00%Secured Debt(5)— (12)846 21,960 12 412 21,560 \n\nPreferred Stock(5)— — 60 13,450 — — 13,450 \n\nPinnacle TopCo, LLCSecured Debt (12)(8)— (1)3 — 1 1 — \n\n13.00%Secured Debt(8)— (14)945 28,640 14 14 28,640 \n\n124\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nPreferred Equity(8)— 1,740 782 18,360 1,740 — 20,100 \n\nPPL RVs, Inc.SF+7.00%Secured Debt(8)— — — — — — — \n\n11.48%SF+7.00%Secured Debt(8)— (15)489 16,456 15 915 15,556 \n\nCommon Stock(8)— 1,050 177 17,110 1,050 — 18,160 \n\nCommon Stock(8)— — — 514 — — 514 \n\nRiver Aggregates, LLCMember Units(8)— — — 9,530 — — 9,530 \n\nTedder Industries, LLC12.00%12.00%Secured Debt(9)— (92)— 1,646 — 91 1,555 \n\n12.00%12.00%Secured Debt(9)— (396)— 3,603 — 396 3,207 \n\nPreferred Member Units(9)— — — — — — — \n\nPreferred Member Units(9)— — — — — — — \n\nPreferred Member Units(9)— — — — — — — \n\nTeleverde, LLCMember Units(8)— 769 — 4,252 769 — 5,021 \n\nPreferred Stock(8)— — — 1,794 — — 1,794 \n\nVVS Holdco LLCSF+6.00%Secured Debt (12)(5)— — 4 — — — — \n\n11.50%Secured Debt(5)— — 754 25,661 13 — 25,674 \n\nPreferred Equity(5)— — 99 12,240 — — 12,240 \n\nOther\n\nAmounts related to investments transferred to or from other 1940 Act classification during the period\n\nTotal Control investments$22 $401 $56,242 $2,087,890 $141,679 $56,613 $2,172,956 \n\nAffiliate Investments\n\n423 HAR, LPLP Interests (423 HAR, L.P.)(8)$— $— $— $1,226 $— $— $1,226 \n\nAAC Holdings, Inc.18.00%18.00%Secured Debt(7)(139)3 — 609 — 609 — \n\n18.00%18.00%Secured Debt(7)(3,303)80 — 17,365 — 17,365 — \n\nPreferred Equity(7)— — — — 8,520 — 8,520 \n\n10.00%10.00%Secured Debt(7)— — — — 3,109 — 3,109 \n\n10.00%10.00%Secured Debt(7)— — — — 3,109 — 3,109 \n\nCommon Stock(7)— — — — — — — \n\nWarrants(7)— — — — — — — \n\nBoccella Precast Products LLC10.00%Secured Debt(6)— — 8 266 — — 266 \n\nMember Units(6)— 810 140 310 810 — 1,120 \n\nBuca C, LLC15.00%15.00%Secured Debt(7)— — — — — — — \n\n6.00%6.00%Preferred Member Units(7)— — — — — — — \n\n15.00%15.00%Secured Debt(7)— — — — — — — \n\n15.00%15.00%Secured Debt(7)— (368)— — 368 368 — \n\nCareer Team Holdings, LLC10.38%SF+6.00%Secured Debt (12)(6)— — 42 887 902 — 1,789 \n\n12.50%Secured Debt(6)— — 617 19,364 11 203 19,172 \n\nCommon Stock(6)— — — 4,740 — — 4,740 \n\nClassic H&G Holdings, LLCPreferred Member Units(6)— (210)— 2,850 — 210 2,640 \n\nCongruent Credit Opportunities FundsLP Interests (Congruent Credit Opportunities Fund III, LP)(8)— — — 2,276 — — 2,276 \n\nConnect Telecommunications Solutions Holdings, Inc.13.00%Secured Debt(6)— — 910 27,315 14 — 27,329 \n\nPreferred Equity(6)— — — 12,596 — — 12,596 \n\n125\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nDMA Industries, LLC12.00%Secured Debt(7)— — 508 16,722 4 — 16,726 \n\nPreferred Equity(7)— — — 5,944 — — 5,944 \n\n12.00%Secured Debt(7)— — 17 555 — — 555 \n\n15.00%15.00%Preferred Equity(7)— — 120 3,240 120 — 3,360 \n\nDos Rios PartnersLP Interests (Dos Rios Partners, LP)(8)— — — 7,708 — — 7,708 \n\nLP Interests (Dos Rios Partners - A, LP)(8)— — — 2,447 — — 2,447 \n\nDos Rios Stone Products LLCClass A Preferred Units(8)— — — — — — — \n\nEIG Fund InvestmentsLP Interests (EIG Global Private Debt Fund-A, L.P.)(8)— — 9 369 — — 369 \n\nFCC Intermediate Holdco, LLC13.00%Secured Debt(5)— 3,438 1,305 29,109 3,691 410 32,390 \n\nWarrants(5)— 3,790 390 10,840 3,790 — 14,630 \n\nFlame King Holdings, LLCPreferred Equity(9)— 3,450 2,296 35,920 3,450 — 39,370 \n\nFreeport Financial SBIC Fund LPLP Interests (Freeport Financial SBIC Fund LP)(5)— — — 2,190 — — 2,190 \n\nLP Interests (Freeport First Lien Loan Fund III LP)(5)— — — 1,263 — 965 298 \n\nGFG Group, LLC8.00%Secured Debt(5)— (4)168 8,185 4 4 8,185 \n\nPreferred Member Units(5)— (930)437 10,540 — 930 9,610 \n\nGulf Manufacturing, LLCSF+7.63%Secured Debt(8)— (2)9 — 2 2 — \n\n12.00%SF+7.63%Secured Debt(8)— (23)1,177 39,000 23 523 38,500 \n\nMember Units(8)— — 178 14,730 — — 14,730 \n\nCommon Stock(8)— 132 — 888 132 — 1,020 \n\nHawk Ridge Systems, LLC10.48%SF+6.00%Secured Debt(9)— — 83 2,645 1,497 1,640 2,502 \n\n12.50%Secured Debt(9)— (14)1,428 45,256 14 14 45,256 \n\nPreferred Member Units(9)— 860 — 20,260 860 — 21,120 \n\nPreferred Member Units(9)— 40 — 1,070 40 — 1,110 \n\nHouston Plating and Coatings, LLC10.00%Unsecured Convertible Debt(8)— — 75 2,940 — — 2,940 \n\nMember Units(8)— 310 49 3,930 310 — 4,240 \n\nHPEP 3, L.P.LP Interests (HPEP 3, L.P.) (12)(8)— 194 — 4,472 194 204 4,462 \n\nLP Interests (HPEP 4, L.P.) (12)(8)— 113 — 5,861 113 — 5,974 \n\nIndependent Pet Partners Intermediate Holdings, LLCCommon Equity(6)— (540)— 20,390 — 540 19,850 \n\nInfinity X1 Holdings, LLC12.00%Secured Debt(9)— (9)453 15,050 9 234 14,825 \n\nPreferred Equity(9)— (1,150)838 9,080 — 1,150 7,930 \n\nIntegral Energy Services12.07%SF+7.50%Secured Debt(8)— — 403 12,728 13 — 12,741 \n\n10.00%10.00%Preferred Equity(8)— — 6 452 6 — 458 \n\nCommon Stock(8)— — — 550 — — 550 \n\nIron-Main Investments, LLC13.00%Secured Debt(5)— — 148 4,493 2 — 4,495 \n\n13.00%Secured Debt(5)— — 97 2,927 1 — 2,928 \n\n13.00%Secured Debt(5)— — 291 8,944 — — 8,944 \n\n13.00%Secured Debt(5)— — 579 17,542 7 — 17,549 \n\n13.00%Secured Debt(5)— — 337 9,638 22 288 9,372 \n\n126\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nCommon Stock(5)— — — 2,850 — — 2,850 \n\n25.00%25.00%Preferred Equity(5)— — — 760 — — 760 \n\nITA Holdings Group, LLC12.96%SF+8.50%Secured Debt(8)— (1)40 1,180 1 1 1,180 \n\n12.96%SF+8.50%Secured Debt(8)— (1)34 994 1 1 994 \n\n11.96%SF+7.50%Secured Debt(8)— (67)201 4,438 67 67 4,438 \n\n13.96%SF+9.50%Secured Debt(8)— (67)223 4,438 67 67 4,438 \n\nWarrants(8)— 970 — 5,690 970 — 6,660 \n\nJohnson Downie Opco, LLCSecured Debt (12)(8)— (2)6 — 2 2 — \n\n15.00%Secured Debt(8)— (12)818 21,507 12 12 21,507 \n\nPreferred Equity(8)— 1,480 384 14,550 1,480 — 16,030 \n\nKMS, LLC14.50%SF+9.75%Secured Debt(5)(415)339 — 663 — 663 — \n\n14.50%SF+9.75%Secured Debt(5)(3,037)2,562 — 4,779 — 4,779 — \n\nSF+9.75%14.23%Secured Debt(5)— — 7 450 — 450 — \n\nSF+9.75%14.23%Secured Debt(5)— — 7 440 — 440 — \n\n14.23%SF+9.75%14.23%Secured Debt(5)— — 3 — — — — \n\n12.50%12.50%Secured Debt (12)(5)— — 20 — 1,073 — 1,073 \n\n12.50%12.50%Secured Debt(5)— — 20 — 1,144 — 1,144 \n\nPreferred Equity(5)— — — — 4,890 — 4,890 \n\nMills Fleet Farm Group, LLC9.79%SF+5.50%Secured Debt(5)— — 44 — 2,652 — 2,652 \n\nCommon Equity(5)— (500)— 13,840 — 500 13,340 \n\nMoneyThumb Acquisition, LLC14.00%Secured Debt(9)— — 370 8,967 34 — 9,001 \n\n12.00%12.00%Preferred Member Units(9)— — 51 1,707 51 — 1,758 \n\nWarrants(9)— — — 594 — — 594 \n\nNebraska Vet AcquireCo, LLCSF+7.00%Secured Debt (12)(5)— (1)3 — 1 1 — \n\nPreferred Member Units(5)— 28,520 570 32,040 28,520 — 60,560 \n\n12.50%Secured Debt(5)— (12)1,956 62,200 12 12 62,200 \n\n12.50%Secured Debt(5)— (8)224 4,650 2,608 8 7,250 \n\nOnAsset Intelligence, Inc.12.00%12.00%Secured Debt(8)— — — 99 — — 99 \n\n12.00%12.00%Secured Debt(8)— — — 101 — — 101 \n\n12.00%12.00%Secured Debt(8)— — — 218 — — 218 \n\n12.00%12.00%Secured Debt(8)— — — 457 — — 457 \n\n10.00%10.00%Unsecured Debt(8)— — — 305 — — 305 \n\n7.00%7.00%Preferred Stock(8)— — — — — — — \n\nCommon Stock(8)— — — — — — — \n\nWarrants(8)— — — — — — — \n\nOneliance, LLCPreferred Stock(7)— 250 52 2,580 250 — 2,830 \n\nRA Outdoors LLC11.25%SF+6.75%Secured Debt(8)— (20)40 1,257 3 60 1,200 \n\n11.25%SF+6.75%Secured Debt(8)— (207)408 13,155 11 621 12,545 \n\nCommon Equity(8)— — — — — — — \n\nSI East, LLC11.75%Secured Debt (12)(7)— (1)72 2,250 1 1 2,250 \n\n12.82%Secured Debt(7)— (4)2,172 67,661 4 4 67,661 \n\nPreferred Member Units(7)— (1,190)— 13,660 — 1,190 12,470 \n\nSlick Innovations, LLCSecured Debt(6)— (139)510 16,320 — 16,320 — \n\n14.00%Secured Debt(6)— 282 441 — 25,880 — 25,880 \n\n127\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\nCompanyTotal RateBase RateSpreadPIK RateType of Investment\n(1) (10) (11)GeographyAmount of\nRealized\nGain/(Loss)Amount of\nUnrealized\nGain/(Loss)Amount of\nInterest,\nFees or\nDividends\nCredited to\nIncome (2)December 31,\n2024 Fair Value (13)Gross\nAdditions (3)Gross\nReductions (4)March 31,\n2025 Fair Value (13)\n\nCommon Stock(6)— (550)873 2,440 — 550 1,890 \n\nStudent Resource Center, LLC8.50%8.50%Secured Debt(6)— (744)— 1,644 — 744 900 \n\nPreferred Equity(6)— — — — — — — \n\n8.50%8.50%Secured Debt(6)— 673 4 204 678 — 882 \n\nSuperior Rigging & Erecting Co.Preferred Member Units(7)— 3,870 — 10,530 3,870 — 14,400 \n\nThe Affiliati Network, LLC10.00%Secured Debt (12)(9)— — 12 394 1,281 1,560 115 \n\n10.00%Secured Debt(9)— 51 133 5,053 54 — 5,107 \n\nPreferred Stock(9)— — 51 6,400 — — 6,400 \n\nPreferred Stock(9)— — — 287 26 — 313 \n\nUnionRock Energy Fund II, LPLP Interests (12)(9)— — — 4,732 — 168 4,564 \n\nUnionRock Energy Fund III, LPLP Interests (12)(9)— — — 5,612 — 363 5,249 \n\nUniTek Global Services, Inc.15.00%Secured Convertible Debt(6)3,762 (2,384)41 5,642 504 6,146 — \n\n15.00%Secured Convertible Debt(6)1,743 (1,155)21 2,662 236 2,898 — \n\n20.00%Preferred Stock(6)— — 104 3,182 1,632 4,814 — \n\n20.00%20.00%Preferred Stock(6)— — — 4,272 5,904 — 10,176 \n\n19.00%19.00%Preferred Stock(6)— — — — — — — \n\n13.50%13.50%Preferred Stock(6)— — — — — — — \n\nCommon Stock(6)— — — — — — — \n\nUrgent DSO LLC13.50%Secured Debt(5)— — 301 8,727 4 — 8,731 \n\n9.00%9.00%Preferred Equity(5)— — 95 4,320 95 — 4,415 \n\nWorld Micro Holdings, LLC11.00%Secured Debt(7)— — 299 10,702 11 879 9,834 \n\nPreferred Equity(7)— — 22 3,845 — — 3,845 \n\nOther\n\nAmounts related to investments transferred to or from other 1940 Act classification during the period3,452 (2,900)(17)(6,332)— — — \n\nTotal Affiliate investments$2,064 $39,003 $23,734 $846,798 $115,176 $68,980 $899,326 \n\n___________________________\n\n(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.\n\n(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.”\n\n(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.\n\n128\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)\nSchedule 12-14\n\nMAIN STREET CAPITAL CORPORATION\n\nConsolidated Schedule of Investments in and Advances to Affiliates (Continued)\n\nMarch 31, 2025\n\n(dollars in thousands)\n\n(Unaudited)\n\n(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.\n\n(5)Portfolio company located in the Midwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $538,021. This represented 18.9% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $280,456. This represented 9.9% of net assets as of March 31, 2025.\n\n(6)Portfolio company located in the Northeast region and Canada as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $162,980. This represented 5.7% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $129,230. This represented 4.6% of net assets as of March 31, 2025.\n\n(7)Portfolio company located in the Southeast region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $68,443. This represented 2.4% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $154,613. This represented 5.4% of net assets as of March 31, 2025.\n\n(8)Portfolio company located in the Southwest region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $1,002,909. This represented 35.3% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $169,813. This represented 6.0% of net assets as of March 31, 2025.\n\n(9)Portfolio company located in the West region as determined by location of the corporate headquarters. The fair value as of March 31, 2025 for Control investments located in this region was $400,603. This represented 14.1% of net assets as of March 31, 2025. The fair value as of March 31, 2025 for Affiliate investments located in this region was $165,214. This represented 5.8% of net assets as of March 31, 2025.\n\n(10)All of the Company’s portfolio investments are generally subject to restrictions on resale as “restricted securities,” unless otherwise noted.\n\n(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.\n\n(12)Investment has an unfunded commitment as of March 31, 2025 (see Note K — Commitments and Contingencies). The fair value of the investment includes the impact of the fair value of any unfunded commitments.\n\n(13)Negative fair value is the result of the capitalized discount being greater than the principal amount outstanding on the loan.\n\n129\n\n[Table of contents](#iefa38768cfef4e00bbbde3befbf870e2_7)"}