(1) At fair value.
(2) Represents ARCC's portion of its co-investments with Varagon Capital Partners and its clients in first lien senior secured loans to U.S. middle-market companies. As of December 31, 2020, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 23 different borrowers. The portfolio companies in the SDLP are in industries similar to companies in ARCC's portfolio.
(3) Includes ARCC's investment in the SDLP, which represented 7.2% of the total investment portfolio at fair value as of December 31, 2020.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Clearwater Analytics, LLC Provider of integrated cloud-based investment portfolio management, accounting, reporting and analytics software | West | Software & Services | |||
| CMW Parent LLC (fka Black Arrow, Inc.) Multiplatform media firm | Mid Atlantic | Media & Entertainment | |||
| CoLTs 2005-1 Ltd. Investment vehicle | International | Investment Funds and Vehicles | |||
| CoLTs 2005-2 Ltd. Investment vehicle | International | Investment Funds and Vehicles | |||
| Commercial Credit Group, Inc. Commercial equipment finance and leasing company | Southeast | Diversified Financials | |||
| Comprehensive EyeCare Partners, LLC Vision care practice management company | Midwest | Health Care Services | |||
| Concert Golf Partners Holdco LLC Golf club owner and operator | West | Consumer Services | |||
| Convey Health Solutions, Inc. Healthcare workforce management software provider | Southeast | Health Care Services | |||
| Cority Software Inc., IQS, Inc. and Project Falcon Parent, Inc. Provider of environmental, health and safety software to track compliance data | International | Software & Services | |||
| Cozzini Bros., Inc. and BH-Sharp Holdings LP Provider of commercial knife sharpening and cutlery services in the restaurant industry | Midwest | Commercial & Professional Services | |||
| CPV Maryland Holding Company II, LLC Gas turbine power generation facilities operator | Mid Atlantic | Power Generation | |||
| Creation Holdings Inc. Manufacturer of electrical systems | International | Capital Goods | |||
| CREST Exeter Street Solar 2004-1 Investment vehicle | International | Investment Funds and Vehicles | |||
| Crown Health Care Laundry Services, LLC and Crown Laundry Holdings, LLC Provider of outsourced healthcare linen management solutions | Southeast | Commercial & Professional Services | |||
| CST Buyer Company (d/b/a Intoxalock) Provider of ignition interlock devices | Midwest | Consumer Services | |||
| CVP Holdco, Inc. and OMERS Wildcats Investment Holdings LLC Veterinary hospital operator | Mid Atlantic | Health Care Services | |||
| D4C Dental Brands HoldCo, Inc. and Bambino Group Holdings, LLC Dental services provider | Southeast | Health Care Services | |||
| Datix Bidco Limited Global healthcare software company that provides software solutions for patient safety and risk management | International | Software & Services | |||
| DCA Investment Holding LLC Multi-branded dental practice management | Southeast | Health Care Services | |||
| DecoPac, Inc. Supplier of cake decorating solutions and products to in-store bakeries | Midwest | Food & Staples Retailing | |||
| DFC Global Facility Borrower III LLC Non-bank provider of alternative financial services | Mid Atlantic | Diversified Financials | |||
| DFS Holding Company, Inc. Distributor of maintenance, repair, and operations parts, supplies, and equipment to the foodservice industry | Midwest | Capital Goods | |||
| DGH Borrower LLC Developer, owner and operator of quick start, small-scale natural gas-fired power generation projects | Mid Atlantic | Power Generation | |||
| Diligent Corporation Provider of secure SaaS solutions for board and leadership team documents | Mid Atlantic | Software & Services | |||
| Display Holding Company, Inc., Saldon Holdings, Inc. and Fastsigns Holdings Inc. Provider of visual communications solutions | Midwest | Retailing and Distribution | |||
| Divisions Holding Corporation and RC V Tecmo Investor LLC Technology based aggregator for facility maintenance services | Southeast | Commercial & Professional Services | |||
| Dorner Holding Corp. Manufacturer of precision unit conveyors | Midwest | Capital Goods | |||
| DRB Holdings, LLC Provider of integrated technology solutions to car wash operators | Midwest | Technology Hardware & Equipment | |||
| Drilling Info Holdings, Inc. and Titan DI Preferred Holdings, Inc. SaaS based business analytics company focused on oil and gas industry | Midwest | Software & Services | |||
| DRS Holdings III, Inc. and DRS Holdings I, Inc. Footwear and orthopedic foot-care brand | Southeast | Consumer Durables & Apparel | |||
| DTI Holdco, Inc. and OPE DTI Holdings, Inc. Provider of legal process outsourcing and managed services | Southeast | Commercial & Professional Services | |||
| Dynamic NC Aerospace Holdings, LLC and Dynamic NC Investment Holdings, LP Provider of aerospace technology and equipment | Midwest | Capital Goods | |||
| eCapital Finance Corp. Consolidator of commercial finance businesses | Southeast | Diversified Financials | |||
| Eckler Industries, Inc. and Eckler Purchaser LLC Restoration parts and accessories provider for classic automobiles | Southeast | Automobiles & Components | |||
| Elemica Parent, Inc. & EZ Elemica Holdings, Inc. SaaS based supply chain management software provider focused on chemical markets | Mid Atlantic | Software & Services | |||
| Elevation Services Parent Holdings, LLC Elevator service platform | Mid Atlantic | Commercial & Professional Services | |||
| Emergency Communications Network, LLC Provider of mission critical emergency mass notification solutions | Southeast | Telecommunication Services | |||
| Emerus Holdings, Inc. Freestanding 24-hour emergency care micro-hospitals operator | Southeast | Health Care Services | |||
| EP Purchaser, LLC., Entertainment Partners Canada ULC and TPG VIII EP Co-Invest II, L.P. Provider of entertainment workforce and production management solutions | West | Software & Services | |||
| EP Wealth Advisors, LLC Wealth management and financial planning firm | West | Diversified Financials | |||
| Episerver Inc. and Goldcup 17308 AB Provider of web content management and digital commerce solutions | Northeast | Software & Services | |||
| eResearch Technology, Inc. and Astorg VII Co-Invest ERT Provider of mission-critical, software-enabled clinical research solutions | Mid Atlantic | Software & Services | |||
| ESCP PPG Holdings, LLC Distributor of new equipment and aftermarket parts to the heavy-duty truck industry | Mid Atlantic | Capital Goods | |||
| Essential Services Holding Corporation and OMERS Mahomes Investment Holdings LLC Provider of plumbing and HVAC services | Southeast | Consumer Services | |||
| European Capital UK SME Debt LP Investment partnership | International | Investment Funds and Vehicles | |||
| Everspin Technologies, Inc. Designer and manufacturer of computer memory solutions | West | Technology Hardware & Equipment | |||
| Evolent Health LLC and Evolent Health, Inc. Medical technology company focused on value based care services and payment solutions | Southeast | Health Care Services | |||
| Excelligence Holdings Corp. Developer, manufacturer and retailer of educational products | West | Education | |||
| Ferraro Fine Foods Corp. and Italian Fine Foods Holdings L.P. Specialty Italian food distributor | Mid Atlantic | Food, Beverage & Tobacco | |||
| First Insight, Inc. Software company providing merchandising and pricing solutions to companies worldwide | Mid Atlantic | Software & Services | |||
| Flinn Scientific, Inc. and WCI-Quantum Holdings, Inc. Distributor of instructional products, services and resources | Midwest | Education | |||
| Flow Control Solutions, Inc. Distributor and manufacturer of flow control systems components | Mid Atlantic | Capital Goods | |||
| FM: Systems Group LLC Provider of facilities and space management software solutions | Southeast | Software & Services | |||
| Forescout Technologies, Inc. Network access control solutions provider | West | Software & Services | |||
| Foundation Risk Partners, Corp. Full service independent insurance agency | Southeast | Insurance | |||
| Frontline Technologies Group Holding LLC, Frontline Technologies Blocker Buyer, Inc., Frontline Technologies Holdings, LLC and Frontline Technologies Parent, LLC Provider of human capital management and SaaS-based software solutions to employees and administrators of K-12 school organizations | Mid Atlantic | Software & Services |
*Represents investments in first lien senior secured loans (including "unitranche" loans, which are loans that combine both senior and subordinated debt, generally in a first lien position) and second lien senior secured loans.