Balanced Portfolio.
Defensive Industries.
Well Diversified.

ARCC Portfolio

As of September 30, 2020, Ares Capital Corporation’s (“Ares Capital” or “ARCC”) portfolio had a fair value of approximately $14.4 billion, and consisted of 347 portfolio companies backed by 166 different private equity sponsors. Ares Capital has a diversified portfolio in terms of issuer concentration, asset class, industry sector and geographic representation.

Portfolio Composition

*Snapshot as of September 30, 2020⁽¹⁾

Issuer Concentration Composition


Asset Class Composition


Industry Composition


Geographic Composition


(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

Investments as of March 31, 2019 Investments as of September 30, 2020
Company/DescriptionRegionSenior Secured Loan*Senior SubordinatedEquity/OtherIndustry
Masergy Holdings, Inc.

Provider of software-defined solutions for enterprise global networks, cyber security, and cloud communications

MidwestSoftware & Services
Mavis Tire Express Services Corp. and Mavis Tire Express Services TopCo, L.P.

Auto parts retailer

Mid AtlanticAutomobiles & Components
MB Aerospace Holdings II Corp.

Aerospace engine components manufacturer

NortheastCapital Goods
MB2 Dental Solutions, LLC

Dental services provider

MidwestHealth Care Services
MCH Holdings, Inc. and MC Acquisition Holdings I, LLC

Healthcare professional provider

MidwestHealth Care Services
McKenzie Creative Brands, LLC

Designer, manufacturer and distributor of hunting-related supplies

SoutheastRetailing and Distribution
ME Equity LLC

Franchisor in the massage industry

WestConsumer Services
Micromeritics Instrument Corp.

Scientific instrument manufacturer

SoutheastTechnology Hardware & Equipment
Microstar Logistics LLC, Microstar Global Asset Management LLC, and MStar Holding Corporation

Keg management solutions provider

WestCommercial & Professional Services
Minerva Surgical, Inc.

Medical device company focused on women's health

WestHealth Care Services
Ministry Brands, LLC and MB Parent HoldCo, L.P. (dba Community Brands)

Software and payment services provider to faith-based institutions

SoutheastSoftware & Services
Movati Athletic (Group) Inc.

Premier health club operator

InternationalConsumer Services
MRI Software

Provider of real estate and investment management software

MidwestSoftware & Services
MSHC, Inc.

Heating, ventilation and air conditioning services provider

SoutheastCommercial & Professional Services
Murchison Oil and Gas, LLC and Murchison Holdings, LLC

Exploration and production company

MW Dental Holding Corp.

Dental services provider

MidwestHealth Care Services
n2y Holding, LLC

Developer of cloud-based special education platform

MidwestSoftware & Services
Napa Management Services Corporation and ASP NAPA Holdings, LLC

Anesthesia management services provider

InternationalHealth 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

SoutheastCommercial & Professional Services
National Intergovernmental Purchasing Alliance Company

Leading group purchasing organization (“GPO”) for public agencies and educational institutions in the U.S

SoutheastCommercial & Professional Services
Navisun LLC and Navisun Holdings LLC

Owner and operater of commercial and industrial solar projects

Mid AtlanticPower Generation
NECCO Holdings, Inc. and New England Confectionery Company, Inc.

Producer and supplier of candy

NortheastFood, Beverage & Tobacco
NECCO Realty Investments LLC

Real estate holding company

NortheastReal 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

NM GRC Holdco, LLC

Regulatory compliance services provider to financial institutions

NortheastCommercial & Professional Services
NMC Skincare Intermediate Holdings II, LLC

Developer, manufacturer and marketer of skincare products

Mid AtlanticPharmaceuticals, Biotechnology & Life Sciences
NMN Holdings III Corp. and NMN Holdings LP

Provider of complex rehabilitation technology solutions for patients with mobility loss

SoutheastHealth Care Services
Nordco Inc.

Manufacturer of railroad maintenance-of-way machinery

North American Science Associates, Inc. and Cardinal Topco Holdings, L.P.

Contract research organization providing research and development and testing of medical devices

MidwestPharmaceuticals, Biotechnology & Life Sciences
Novetta Solutions, LLC

Provider of advanced analytics solutions for the government, defense and commercial industries

Mid AtlanticSoftware & Services
NSM Insurance Group, LLC

Insurance program administrator

Mid AtlanticInsurance
nThrive, Inc. (fka Precyse Acquisition Corp.)

Provider of healthcare information management technology and services

SoutheastSoftware & Services
NueHealth Performance, LLC

Developer, builder and manager of specialty surgical hospitals and ambulatory surgery centers

MidwestHealth Care Services
OAKC 2015-11

Investment vehicle

InternationalInvestment Funds and Vehicles
Olympia Acquisition, Inc. and Olympia TopCo, L.P.

Behavioral health and special education platform provider

Mid AtlanticHealth Care Services
OMH-HealthEdge Holdings, LLC

Provider of financial, administrative and clinical software platforms to the healthcare industry

SoutheastHealth Care Services
OSYS Holdings, LLC

Provider of technology-enabled solutions to pharmacies

MidwestHealth Care Services
OTG Management, LLC

Airport restaurant operator

Mid AtlanticConsumer Services

Provider of out-of-home advertising

Mid AtlanticMedia & Entertainment
Panda Temple Power, LLC and T1 Power Holdings LLC

Gas turbine power generation facilities operator

MidwestPower Generation
Park Place Technologies, LLC

Provider of hardware maintenance and support services for IT data centers

MidwestSoftware & Services
Partnership Capital Growth Investors III, L.P.

Investment partnership

WestInvestment Funds and Vehicles
Pathway Vet Alliance LLC and Jedi Group Holdings LLC

Veterinary hospital operator

MidwestHealth Care Services
PayNearMe, Inc.

Electronic cash payment system provider

WestSoftware & Services
PaySimple, Inc.

Provider of business management solutions

WestSoftware & Services
PCG-Ares Sidecar Investment II, L.P.

Investment partnership

WestInvestment Funds and Vehicles
PCG-Ares Sidecar Investment, L.P.

Investment partnership

WestInvestment 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

MidwestSoftware & Services
Pegasus Global Enterprise Holdings, LLC, Mekone Blocker Acquisition, Inc. and Mekone Parent, LLC

Provider of plant maintenance and scheduling software

SoutheastSoftware & Services
Pelican Products, Inc.

Flashlights manufacturer

WestConsumer Durables & Apparel
Penn Virginia Holding Corp.

Exploration and production company

PERC Holdings 1 LLC

Operator of recycled energy, combined heat and power, and energy efficiency facilities

MidwestPower Generation
Perforce Software, Inc.

Developer of software used for application development

MidwestSoftware & Services
Performance Health Supply, Inc.

Distributor of rehabilitation supplies and equipment

MidwestHealth Care Services
Petroleum Service Group LLC

Provider of operational services for US petrochemical and refining companies

SoutheastCommercial & Professional Services
PetVet Care Centers, LLC

Veterinary hospital operator

NortheastHealth 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.