(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 March 31, 2022, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 19 different borrowers. The portfolio companies in the SDLP are in industries similar to companies in ARCC's portfolio.
(3) Includes ARCC's equity and subordinated loan investments in IHAM
(4) Includes ARCC's investment in the SDLP, which represented 5.0% of the total investment portfolio at fair value as of March 31, 2022.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Jenny C Acquisition, Inc. Health club franchisor | West | Consumer Services | |||
| Jim N Nicks Management, LLC Restaurant owner and operator | Southeast | Consumer Services | |||
| Johnnie-O Inc. and Johnnie-O Holdings Inc. Apparel retailer | West | Consumer Durables & Apparel | |||
| Joyce Lane Capital LLC and Joyce Lane Financing SPV LLC (fka Ciena Capital LLC) Specialty finance company | Mid Atlantic | Diversified Financials | |||
| JWC/KI Holdings, LLC Foodservice sales and marketing agency | Mid Atlantic | Food & Staples Retailing | |||
| K2 Insurance Services, LLC and K2 Holdco LP Specialty insurance and managing general agency | West | Insurance Services | |||
| KBHS Acquisition, LLC (d/b/a Alita Care, LLC) Provider of behavioral health services | Mid Atlantic | Health Care Services | |||
| KC Culinarte Intermediate, LLC Manufacturer of fresh refrigerated and frozen food products | Northeast | Food & Beverage | |||
| Kellermeyer Bergensons Services, LLC Provider of janitorial and facilities management services | West | Commercial & Professional Services | |||
| Kene Acquisition, Inc. and Kene Holdings, L.P. National utility services firm providing engineering and consulting services to natural gas, electric power and other energy and industrial end markets | Midwest | Capital Goods | |||
| KeyStone Sub-debt HoldCo, LLC Planet Fitness franchisee | Mid Atlantic | Consumer Services | |||
| KPS Global LLC and Cool Group LLC Manufacturer of walk-in cooler and freezer systems | Midwest | Commercial & Professional Services | |||
| Laboratories Bidco LLC and Laboratories Topco LLC Lab testing services for nicotine containing products | Mid Atlantic | Commercial & Professional Services | |||
| Lakers Buyer, Inc. and Lakers Parent LLC Provider of fire safety and life safety services | West | Commercial & Professional Services | |||
| Len the Plumber, LLC, LTP Neffsville, LLC, LTP of NJ, LLC, LTP LSI, LLC, LTP RB, LLC and Precision Air of Georgia, LLC Provider of plumbing services | Northeast | Consumer Services | |||
| Lew's Intermediate Holdings, LLC Outdoor brand holding company | Midwest | Consumer Durables & Apparel | |||
| Lido Advisors, LLC Wealth management and financial planning firm | West | Diversified Financials | |||
| Lower ACS, Inc. Provider of commercial HVAC equipment and services | Northeast | Capital Goods | |||
| LS DE LLC and LM LSQ Investors LLC Asset based lender | Southeast | Diversified Financials | |||
| LSP Holdco, LLC and ZBS Mechanical Group Co-Invest Fund 2, LLC Provider of residential HVAC and plumbing services | Mid Atlantic | Consumer Services | |||
| LTG Acquisition, Inc. Designer and manufacturer of display, lighting and passenger communication systems for mass transportation markets | Midwest | Capital Goods | |||
| Mac Lean-Fogg Company and MacLean-Fogg Holdings, L.L.C. Manufacturer and supplier for the power utility and automotive markets worldwide | Midwest | Automobiles & Components | |||
| Majesco and Magic Topco, L.P. Insurance software provider | Mid Atlantic | Software & Services | |||
| Manna Pro Products, LLC Manufacturer and supplier of specialty nutrition and care products for animals | Midwest | Food & Beverage | |||
| Marcone Yellowstone Buyer Inc. and Marcone Yellowstone Holdings, LLC Distributor of OEM appliance aftermarket parts | Midwest | Retailing and Distribution | |||
| Marmic Purchaser, LLC and Marmic Topco, L.P. Provider of recurring fire protection services | Midwest | Commercial & Professional Services | |||
| Maverick Acquisition, Inc. Manufacturer of precision machined components for defense and high-tech industrial platforms | Midwest | Capital Goods | |||
| Mavis Tire Express Services Topco Corp., Metis Holdco, Inc. and Metis Topco, LP Auto parts retailer | Mid Atlantic | Automobiles & Components | |||
| MB Aerospace Holdings II Corp. Aerospace engine components manufacturer | Northeast | Capital Goods | |||
| McKenzie Creative Brands, LLC Designer, manufacturer and distributor of hunting-related supplies | Southeast | Retailing and Distribution | |||
| McLaren Group Limited Automobile manufacturer and retailer | International | Automobiles & Components | |||
| ME Equity LLC Franchisor in the massage industry | West | Consumer Services | |||
| Medline Borrower, LP Manufacturer and distributor of medical supplies | Midwest | Health Care Services | |||
| Miami Beckham United LLC American professional soccer club | Southeast | Media & Entertainment | |||
| Micromeritics Instrument Corp. Scientific instrument manufacturer | Southeast | Technology Hardware & Equipment | |||
| Microstar Logistics LLC, Microstar Global Asset Management LLC, MStar Holding Corporation and Kegstar USA Inc. Keg management solutions provider | West | Commercial & Professional Services | |||
| Ministry Brands Holdings, LLC and RCP MB Investments B, L.P. Software and payment services provider to faith-based institutions | Southeast | Software & Services | |||
| Mitchell International, Inc. Provider of technology, connectivity, and information solutions to the property and casualty insurance industry | West | Software & Services | |||
| MMIT Holdings, LLC Provider of market intelligence and analysis for the pharmaceutical industry | Northeast | Software & Services | |||
| Monica Holdco (US) Inc. Investment technology and advisory firm | West | Diversified Financials | |||
| Moon Valley Nursery of Arizona Retail, LLC, Moon Valley Nursery Farm Holdings, LLC, Moon Valley Nursery RE Holdings LLC, and Stonecourt IV Partners, LP Operator of retail and wholesale tree and plant nurseries | West | Retailing and Distribution | |||
| Movati Athletic (Group) Inc. Premier health club operator | International | Consumer Services | |||
| MRI Software LLC Provider of real estate and investment management software | Midwest | Software & Services | |||
| Murchison Oil and Gas, LLC and Murchison Holdings, LLC Exploration and production company | Midwest | Energy | |||
| n2y Holding, LLC Developer of cloud-based special education platform | Midwest | Software & Services | |||
| Napa Management Services Corporation and ASP NAPA Holdings, LLC Anesthesia management services provider | Mid Atlantic | Health Care Services | |||
| NAS, LLC and Nationwide Marketing Group, LLC Buying and marketing services organization for appliance, furniture and consumer electronics dealers | Southeast | Commercial & Professional Services | |||
| National College of Business and Technology Company, Inc. & Leeds IV Advisors, Inc. Private school operator | International | Education | |||
| National Intergovernmental Purchasing Alliance Company Leading group purchasing organization (GPO) for public agencies and educational institutions in the U.S | Southeast | Commercial & Professional Services | |||
| NBC Funding LLC National retailer of baked goods | West | Food & Staples Retailing | |||
| NCWS Intermediate, Inc. and NCWS Holdings LP Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | Midwest | Capital Goods | |||
| Nelipak Holding Company, Nelipak European Holdings Cooperatief U.A., KNPAK Holdings, LP and PAKNK Netherlands Treasury B.V. Manufacturer of thermoformed packaging for medical devices | Northeast | Materials | |||
| Nest Topco Borrower Inc., KKR Nest Co-Invest L.P., and NBLY 2021-1 Operator of multiple franchise concepts primarily related to home maintenance or repairs | Midwest | Commercial & Professional Services | |||
| New Era Cap, LLC Sports apparel manufacturing company | Mid Atlantic | Consumer Durables & Apparel | |||
| NM GRC Holdco, LLC Regulatory compliance services provider to financial institutions | Northeast | Commercial & Professional Services | |||
| NMC Skincare Intermediate Holdings II, LLC Developer, manufacturer and marketer of skincare products | Mid Atlantic | Pharmaceuticals, Biotechnology & Life Sciences |
*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.