MFIC on Nasdaq

MidCap Financial Investment Corp

Corporation registered in the United States, active since 2004.

Price unavailable

Last updated Oct 18, 2026.

Overview

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TickerMFIC on Nasdaq
HeadquartersBaltimore, United States
Incorporated inMD²
Business address9 W. 57Th Street, New York, Ny 10019²
Filer categoryLarge accelerated filer²

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income³⁴$63.2M in 2025−23% since 2022

Every line of the income statement as filed: the last 3 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
PIK interest income	$17.9M	$12.2M	$3.0M
Total Investment Income	$320.9M	$301.8M	$276.5M
Management fees	$24.2M	$19.4M	$17.4M
Performance-based incentive fees	$16.1M	$21.5M	$24.6M
Interest and other debt expenses	$127.1M	$116.0M	$104.2M
Administrative services expense	$6.7M	$4.1M	$5.8M
Other general and administrative expenses	$6.3M	$8.2M	$10.1M
Total expenses	$180.4M	$169.3M	$162.1M
Performance-based incentive fee offset			-$274.0K
Expense reimbursements	-$1.5M	-$769.0K	-$1.3M
Net Expenses	$178.9M	$168.5M	$160.5M
Net Investment Income	$142.0M	$133.3M	$116.0M
Net realized gains (losses)	-$45.9M	-$76.4M	$131.0K
Foreign currency forward contracts	-$610.0K
Foreign currency transactions	-$233.0K	-$592.0K	$69.0K
Extinguishment of debt	-$3.4M
Net realized gains (losses)	-$50.1M	-$77.0M	$200.0K
Foreign currency forward contracts	-$9.0K
Foreign currency translations	-$2.7M	$1.5M	-$2.5M
Net change in unrealized gains (losses)	-$28.7M	$42.5M	$2.6M
Net Realized and Change in Unrealized Gains (Losses)	-$78.8M	-$34.5M	$2.8M
Net Increase (Decrease) in Net Assets Resulting from Operations	$63.2M	$98.8M	$118.8M
Earnings (Loss) Per Share - Basic	$0.68	$1.27	$1.82

Total assets³⁷⁴$3.3B in 2025+32% since 2022

Total liabilities³⁷⁴$2.0B in 2025+31% since 2022

Shareholders’ equity⁴$1.3B in 2025−7% since 2024

Cash³⁷⁴$98.2M in 2025+80% since 2021

Long-term debt³⁷⁴$2.0B in 2025+35% since 2022

Fiscal year	2020	2021	2022	2023	2024	2025	2026
Cash		$54.6M³	$84.7M³	$93.6M⁷	$74.4M⁴	$98.2M⁴
Total assets			$2.5B³	$2.5B⁷	$3.2B⁴	$3.3B⁴
Long-term debt			$1.5B³	$1.5B⁷	$1.8B⁴	$2.0B⁴
Total liabilities			$1.5B³	$1.5B⁷	$1.8B⁴	$2.0B⁴
Shareholders’ equity					$1.4B⁴	$1.3B⁴
Shares outstanding	65.3M shares³	65.3M shares⁷	65.5M shares⁴	65.3M shares⁴	93.8M shares⁴	92.2M shares⁴	92.2M shares⁴

Cash from operations³⁴-$49.7M in 2025+1758% since 2022

Dividends paid³⁴$141.6M in 2025+52% since 2022

Share buybacks³⁴$19.0M in 2025−10% since 2022

Every line of the cash flow as filed: the last 3 fiscal years, latest first.⁴

Period ending	2025-12-31	2024-12-31	2023-12-31
Net increase (decrease) in net assets resulting from operations	$63.2M	$98.8M	$118.8M
Net realized (gains) losses on investments	$45.9M	$76.4M	-$131.0K
Net change in unrealized (gains) losses	$28.7M	-$42.5M	-$2.6M
Net amortization of premiums and accretion of discounts on investments	-$6.8M	-$8.9M	-$7.8M
Accretion of discount on notes	$1.8M	$1.8M	$604.0K
Amortization of deferred financing costs	$5.1M	$5.2M	$5.3M
PIK interest and dividends capitalized	-$20.1M	-$14.8M	-$3.0M
Purchases of investments	-$1.3B	-$1.0B	-$417.1M
Proceeds from sales and repayments of investments	$1.1B	$867.2M	$497.3M
Cash acquired in AFT and AIF Mergers		$9.9M
Decrease (increase) in interest receivable	-$4.4M	$2.2M	-$4.3M
Decrease (increase) in dividends receivable	$79.0K	$618.0K	$3.5M
Decrease (increase) in prepaid expenses and other assets	-$2.2M	$16.1M	$1.8M
Increase (decrease) in management and performance-based incentive fees payable	-$5.5M	$854.0K	$1.7M
Increase (decrease) in interest payable	$54.0K	-$1.7M	$948.0K
Increase (decrease) in accrued administrative services expense	$168.0K	-$1.6M	$909.0K
Increase (decrease) in other liabilities and accrued expenses	-$4.6M	-$5.6M	$429.0K
Net Cash (Used in)/Provided by Operating Activities	-$49.7M	-$9.5M	$196.4M
Issuances of debt	$2.1B	$446.1M	$630.6M
Payments of debt	-$1.9B	-$334.4M	-$655.3M
Financing costs paid and deferred	-$5.1M	-$8.9M	-$10.9M
Repurchase of common stock	-$19.0M		-$2.3M
Distributions paid	-$141.6M	-$139.6M	-$123.5M
Net Cash (Used in)/Provided by Financing Activities	$73.4M	-$36.8M	-$161.4M
Net increase (decrease) in cash, cash equivalents and foreign currencies during the period	$23.6M	-$46.3M	$35.0M
Effect of foreign exchange rate changes on cash and cash equivalents	$36.0K	-$48.0K	$16.0K
Cash interest paid	$120.2M	$110.7M	$97.5M
PIK income	$17.9M	$12.2M	$3.0M
Purchases of investments		$595.9M
Debt assumed		-$177.0M
Issuance of common stock		$440.1M

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Leadership

Who has led MidCap Financial Investment Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

President

Chief financial officer

Chief operating officer

2010201520202025

Chief executive officerTanner Powell Mar 14, 2023 to now⁸
Chief executive officerHoward Widra Nov 12, 2019 to Aug 3, 2022⁹
Chief executive officerJames C. Zelter Feb 20, 2009 to Aug 9, 2016¹⁰
PresidentTed Aymond McNulty Jr. Aug 10, 2022 to now¹¹
PresidentTanner Powell May 24, 2018 to Feb 13, 2020¹²
PresidentHoward Widra Jun 14, 2016 to Mar 2, 2018¹³
PresidentEdward J. Goldthorpe May 11, 2012 to Aug 11, 2015¹⁴
PresidentPatrick J. Dalton Feb 18, 2009 to Apr 28, 2010¹⁵
PresidentJames C. Zelter Dec 4, 2006 to Feb 21, 2008¹⁶
Chief financial officerGene Donnelly Feb 13, 2012 to Feb 13, 2012¹⁷
Chief financial officerRichard Peteka Aug 17, 2009 to Aug 8, 2011¹⁸
Chief operating officerPatrick J. Dalton Feb 18, 2009 to Apr 28, 2010¹⁵
Chief operating officerJames C. Zelter Dec 4, 2006 to Feb 21, 2008¹⁶

Board members and other officers (29)

OfficerKenneth Lee Seifert Jr. Jun 30, 2025 to now¹⁹
Chief Accounting OfficerJoseph Vincent Durkin Sep 17, 2025 to now²⁰
Chief Compliance OfficerRyan Delgiudice Mar 23, 2023 to Mar 23, 2023²¹
OfficerKristin Hester Aug 9, 2022 to Aug 9, 2022²²
Chief Accounting OfficerAmit Joshi May 24, 2017 to May 24, 2017²³
EVP of Corporate StrategyEileen M. Patrick Feb 13, 2012 to Feb 13, 2012²⁴
Chief Compliance Officer & VPCindy Z. Michel Feb 8, 2010 to Feb 8, 2010²⁵
Secretary and VPJoseph D. Glatt Feb 8, 2010 to Feb 8, 2010²⁶
CCO & Corporate SecretaryGordon E. Swartz Aug 21, 2007 to Aug 21, 2007²⁷
Vice PresidentJohn J. Suydam Nov 7, 2006 to Aug 16, 2007²⁸
Executive Vice PresidentEdward S. Tam Dec 4, 2006 to Dec 4, 2006²⁹
Executive Vice PresidentPatrick J. Dalton Dec 4, 2006 to Nov 26, 2007³⁰
Board memberCarmencita N.m. Whonder Mar 10, 2023 to Mar 10, 2023³¹
Board memberEmanuel R. Pearlman Mar 10, 2023 to now³²
Board memberHoward Widra Nov 12, 2019 to now⁹
Board memberBarbara Ruth Matas Mar 22, 2017 to Dec 15, 2020³³
Board memberHilary E. Ackermann Aug 12, 2015 to Aug 22, 2016³⁴
Board memberCarl Spielvogel Jun 14, 2013 to Jun 10, 2014³⁵
Board memberRudolph R. Reinfrank Jun 17, 2013 to Aug 10, 2015³⁶
Board memberJeanette W. Loeb Aug 5, 2011 to Mar 5, 2014³⁷
Board memberJohn J. Hannan Apr 30, 2010 to Jun 14, 2023³⁸
Board memberJames C. Zelter Feb 20, 2009 to Aug 9, 2016¹⁰
Board memberFrank C. Puleo Feb 11, 2008 to Aug 16, 2016³⁹
Board memberAshok N. Bakhru Oct 24, 2008 to Jun 9, 2009⁴⁰
Board memberClaudine B/ca Malone Apr 18, 2007 to Feb 20, 2008⁴¹
Board memberElliot Stein Jr. Aug 17, 2007 to now⁴²
Board memberBradley J. Wechsler Mar 20, 2006 to Jul 2, 2008⁴³
Board memberThomas A. Daschle Apr 24, 2006 to Apr 24, 2006⁴⁴
Board memberGerald Tsai Jr. Aug 21, 2006 to Sep 24, 2007⁴⁵

Former names

APOLLO INVESTMENT CORPMar 12, 2004 to Aug 10, 2022²
APOLLO CAPITAL CORPFeb 6, 2004 to Feb 6, 2004²

Timeline

Mar 14, 2023New chief executive Tanner Powell becomes CEO⁸
Nov 12, 2019New chief executive Howard Widra becomes CEO⁹
Feb 20, 2009New chief executive James C. Zelter becomes CEO¹⁰
Feb 2, 2004Founded MidCap Financial Investment Corp is founded⁴⁶

Filings

156 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 49 major events, 24 insider forms, 1 large holders, 62 other. The latest 20:

Aug 6, 20268-K EDGAR
Aug 6, 202610-Q EDGAR
Jun 23, 20268-K EDGAR
May 6, 20268-K EDGAR
May 6, 202610-Q EDGAR
Apr 30, 2026ARS EDGAR
Apr 30, 2026DEFA14A EDGAR
Apr 30, 2026DEF 14A EDGAR
Apr 20, 20268-K EDGAR
Apr 10, 202640-17G EDGAR
Feb 26, 20268-K EDGAR
Feb 26, 202610-K EDGAR
Feb 12, 20264 EDGAR
Jan 9, 20264/A EDGAR
Nov 6, 20258-K EDGAR
Nov 6, 202510-Q EDGAR
Oct 28, 20258-K EDGAR
Oct 2, 20258-K EDGAR
Sep 17, 20253 EDGAR
Sep 8, 20258-K EDGAR

The 156 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 1 such filings since October 2021:

Feb 7, 2022SC 13G/A

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

Fund	Shares	Value	Share of the fund	Change
Thornburg Investment Management Inc	3,237,783	$32.6M	0.3%	No change
Apollo Management Holdings, L.P.	2,348,753	$23.7M	0.4%	+6
Van Eck Associates Corp	2,104,647	$21.2M	0.0%	+293,478
Soros Fund Management LLC	1,944,500	$19.6M	0.3%	No change
UBS Group AG	1,929,691	$19.5M	0.0%	+111,406
Next Capital Management LLC	1,899,667	$19.1M	5.2%	+28,015
Morgan Stanley	1,530,893	$15.4M	0.0%	−83,726
Russell Investments Group, Ltd.	1,141,719	$11.5M	0.0%	+358,526
Wellington Management Group Llp	1,078,291	$10.9M	0.0%	New
Invesco Ltd.	1,052,384	$10.6M	0.0%	−242,201
Legal & General Group Plc	789,579	$8.0M	0.0%	+64,166
Muzinich & Co., Inc.	744,421	$7.5M	2.6%	+27,923
Sumitomo Mitsui Trust Group, Inc.	549,575	$5.5M	0.0%	No change
Raymond James Financial Inc	527,873	$5.3M	0.0%	−79,613
Cura Wealth Advisors, LLC	512,823	$5.2M	2.2%	−101,095
Franklin Resources Inc	441,518	$4.5M	0.0%	+12,876
Beach Point Capital Management LP	440,361	$4.4M	1.7%	New
Condor Capital Management	431,882	$4.4M	0.3%	−2,346
Castlekeep Investment Advisors LLC	414,657	$4.2M	2.1%	+18,484
Ethos Financial Group, LLC	391,814	$3.9M	0.3%	−1,784
Foundations Investment Advisors, LLC	387,610	$3.9M	0.0%	−45,931
BlackRock, Inc.	383,938	$3.9M	0.0%	−19,930
D.a. Davidson & Co.	374,284	$3.8M	0.0%	+13,477
Wells Fargo & Company/mn	302,773	$3.1M	0.0%	+4,485
United Advisor Group, LLC	264,846	$2.7M	0.3%	−5,206

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

1
SEC EDGARMidCap Financial Investment Corp filings on SEC EDGAR
2
SEC EDGARMidCap Financial Investment Corp filings on SEC EDGAR
3
SEC EDGARMidCap Financial Investment Corp 10-K for fiscal 2022
4
SEC EDGARMidCap Financial Investment Corp 10-K for fiscal 2023
5
SEC EDGARMidCap Financial Investment Corp 10-Q for fiscal 2026
6
SEC EDGARMidCap Financial Investment Corp 10-Q for fiscal 2026
7
SEC EDGARMidCap Financial Investment Corp 10-K for fiscal 2023
8
SEC EDGARTanner Powell, Chief executive officer
9
SEC EDGARHoward Widra, Chief executive officer
10
SEC EDGARJames C. Zelter, Chief executive officer
11
SEC EDGARTed Aymond McNulty Jr., President
12
SEC EDGARTanner Powell, President
13
SEC EDGARHoward Widra, President
14
SEC EDGAREdward J. Goldthorpe, President
15
SEC EDGARPatrick J. Dalton, President
16
SEC EDGARJames C. Zelter, President
17
SEC EDGARGene Donnelly, Chief financial officer
18
SEC EDGARRichard Peteka, Chief financial officer
19
SEC EDGARKenneth Lee Seifert Jr., Officer
20
SEC EDGARJoseph Vincent Durkin, Chief Accounting Officer
21
SEC EDGARRyan Delgiudice, Chief Compliance Officer
22
SEC EDGARKristin Hester, Officer
23
SEC EDGARAmit Joshi, Chief Accounting Officer
24
SEC EDGAREileen M. Patrick, EVP of Corporate Strategy
25
SEC EDGARCindy Z. Michel, Chief Compliance Officer & VP
26
SEC EDGARJoseph D. Glatt, Secretary and VP
27
SEC EDGARGordon E. Swartz, CCO & Corporate Secretary
28
SEC EDGARJohn J. Suydam, Vice President
29
SEC EDGAREdward S. Tam, Executive Vice President
30
SEC EDGARPatrick J. Dalton, Executive Vice President
31
SEC EDGARCarmencita N.m. Whonder, Board member
32
SEC EDGAREmanuel R. Pearlman, Board member
33
SEC EDGARBarbara Ruth Matas, Board member
34
SEC EDGARHilary E. Ackermann, Board member
35
SEC EDGARCarl Spielvogel, Board member
36
SEC EDGARRudolph R. Reinfrank, Board member
37
SEC EDGARJeanette W. Loeb, Board member
38
SEC EDGARJohn J. Hannan, Board member
39
SEC EDGARFrank C. Puleo, Board member
40
SEC EDGARAshok N. Bakhru, Board member
41
SEC EDGARClaudine B/ca Malone, Board member
42
SEC EDGARElliot Stein Jr., Board member
43
SEC EDGARBradley J. Wechsler, Board member
44
SEC EDGARThomas A. Daschle, Board member
45
SEC EDGARGerald Tsai Jr., Board member
46
gleifMidCap Financial Investment Corp is founded