(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 September 30, 2020, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 22 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 6.5% of the total investment portfolio at fair value as of September 30, 2020.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Masergy Holdings, Inc. Provider of software-defined solutions for enterprise global networks, cyber security, and cloud communications | Midwest | Software & Services | |||
| Mavis Tire Express Services Corp. and Mavis Tire Express Services TopCo, L.P. Auto parts retailer | Mid Atlantic | Automobiles & Components | |||
| MB Aerospace Holdings II Corp. Aerospace engine components manufacturer | Northeast | Capital Goods | |||
| MB2 Dental Solutions, LLC Dental services provider | Midwest | Health Care Services | |||
| MCH Holdings, Inc. and MC Acquisition Holdings I, LLC Healthcare professional provider | Midwest | Health Care Services | |||
| McKenzie Creative Brands, LLC Designer, manufacturer and distributor of hunting-related supplies | Southeast | Retailing and Distribution | |||
| ME Equity LLC Franchisor in the massage industry | West | Consumer Services | |||
| Micromeritics Instrument Corp. Scientific instrument manufacturer | Southeast | Technology Hardware & Equipment | |||
| Microstar Logistics LLC, Microstar Global Asset Management LLC, and MStar Holding Corporation Keg management solutions provider | West | Commercial & Professional Services | |||
| Minerva Surgical, Inc. Medical device company focused on women's health | West | Health Care Services | |||
| Ministry Brands, LLC and MB Parent HoldCo, L.P. (dba Community Brands) Software and payment services provider to faith-based institutions | Southeast | Software & Services | |||
| Movati Athletic (Group) Inc. Premier health club operator | International | Consumer Services | |||
| MRI Software Provider of real estate and investment management software | Midwest | Software & Services | |||
| MSHC, Inc. Heating, ventilation and air conditioning services provider | Southeast | Commercial & Professional Services | |||
| Murchison Oil and Gas, LLC and Murchison Holdings, LLC Exploration and production company | Midwest | Energy | |||
| MW Dental Holding Corp. Dental services provider | Midwest | Health Care Services | |||
| 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 | International | Health Care Services | |||
| NAS, LLC, Nationwide Marketing Group, LLC and Nationwide Administrative Services, Inc. Buying and marketing services organization for appliance, furniture and consumer electronics dealers | Southeast | Commercial & Professional Services | |||
| National Intergovernmental Purchasing Alliance Company Leading group purchasing organization (GPO) for public agencies and educational institutions in the U.S | Southeast | Commercial & Professional Services | |||
| Navisun LLC and Navisun Holdings LLC Owner and operater of commercial and industrial solar projects | Mid Atlantic | Power Generation | |||
| NECCO Holdings, Inc. and New England Confectionery Company, Inc. Producer and supplier of candy | Northeast | Food, Beverage & Tobacco | |||
| NECCO Realty Investments LLC Real estate holding company | Northeast | Real Estate | |||
| 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 | International | Materials | |||
| 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 | |||
| NMN Holdings III Corp. and NMN Holdings LP Provider of complex rehabilitation technology solutions for patients with mobility loss | Southeast | Health Care Services | |||
| Nordco Inc. Manufacturer of railroad maintenance-of-way machinery | Midwest | Transportation | |||
| North American Science Associates, Inc. and Cardinal Topco Holdings, L.P. Contract research organization providing research and development and testing of medical devices | Midwest | Pharmaceuticals, Biotechnology & Life Sciences | |||
| Novetta Solutions, LLC Provider of advanced analytics solutions for the government, defense and commercial industries | Mid Atlantic | Software & Services | |||
| NSM Insurance Group, LLC Insurance program administrator | Mid Atlantic | Insurance | |||
| nThrive, Inc. (fka Precyse Acquisition Corp.) Provider of healthcare information management technology and services | Southeast | Software & Services | |||
| NueHealth Performance, LLC Developer, builder and manager of specialty surgical hospitals and ambulatory surgery centers | Midwest | Health Care Services | |||
| OAKC 2015-11 Investment vehicle | International | Investment Funds and Vehicles | |||
| Olympia Acquisition, Inc. and Olympia TopCo, L.P. Behavioral health and special education platform provider | Mid Atlantic | Health Care Services | |||
| OMH-HealthEdge Holdings, LLC Provider of financial, administrative and clinical software platforms to the healthcare industry | Southeast | Health Care Services | |||
| OSYS Holdings, LLC Provider of technology-enabled solutions to pharmacies | Midwest | Health Care Services | |||
| OTG Management, LLC Airport restaurant operator | Mid Atlantic | Consumer Services | |||
| OUTFRONT Media Inc. Provider of out-of-home advertising | Mid Atlantic | Media & Entertainment | |||
| Panda Temple Power, LLC and T1 Power Holdings LLC Gas turbine power generation facilities operator | Midwest | Power Generation | |||
| Park Place Technologies, LLC Provider of hardware maintenance and support services for IT data centers | Midwest | Software & Services | |||
| Partnership Capital Growth Investors III, L.P. Investment partnership | West | Investment Funds and Vehicles | |||
| Pathway Vet Alliance LLC and Jedi Group Holdings LLC Veterinary hospital operator | Midwest | Health Care Services | |||
| PayNearMe, Inc. Electronic cash payment system provider | West | Software & Services | |||
| PaySimple, Inc. Provider of business management solutions | West | Software & Services | |||
| PCG-Ares Sidecar Investment II, L.P. Investment partnership | West | Investment Funds and Vehicles | |||
| PCG-Ares Sidecar Investment, L.P. Investment partnership | West | Investment Funds and Vehicles | |||
| PDI TA Holdings, Inc., Peachtree Parent, Inc. and Insight PDI Holdings, LLC Provider of enterprise management software for the convenience retail and petroleum wholesale market | Midwest | Software & Services | |||
| Pegasus Global Enterprise Holdings, LLC, Mekone Blocker Acquisition, Inc. and Mekone Parent, LLC Provider of plant maintenance and scheduling software | Southeast | Software & Services | |||
| Pelican Products, Inc. Flashlights manufacturer | West | Consumer Durables & Apparel | |||
| Penn Virginia Holding Corp. Exploration and production company | Midwest | Energy | |||
| PERC Holdings 1 LLC Operator of recycled energy, combined heat and power, and energy efficiency facilities | Midwest | Power Generation | |||
| Perforce Software, Inc. Developer of software used for application development | Midwest | Software & Services | |||
| Performance Health Supply, Inc. Distributor of rehabilitation supplies and equipment | Midwest | Health Care Services | |||
| Petroleum Service Group LLC Provider of operational services for US petrochemical and refining companies | Southeast | Commercial & Professional Services | |||
| PetVet Care Centers, LLC Veterinary hospital operator | Northeast | Health Care Services |
*Represents investments in first lien senior secured loans (including "unitranche" loans, which are loans that combine both senior and mezzanine debt, generally in a first lien position) and second lien senior secured loans.