(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 |
|---|---|---|---|---|---|
| NMN Holdings III Corp. and NMN Holdings LP Provider of complex rehabilitation technology solutions for patients with mobility loss | Southeast | Health Care Services | |||
| North American Fire Holdings, LLC and North American Fire Ultimate Holdings, LLC Provider of fire safety and life safety services | Mid Atlantic | Commercial & Professional Services | |||
| North American Science Associates, LLC, Cardinal Purchaser LLC and Cardinal Topco Holdings, L.P. Contract research organization providing research and development and testing of medical devices | Midwest | Pharmaceuticals, Biotechnology & Life Sciences | |||
| North Haven Falcon Buyer, LLC and North Haven Falcon Holding Company, LLC Manufacturer of aftermarket golf cart parts and accessories | Southeast | Retailing and Distribution | |||
| North Haven Stack Buyer, LLC Provider of environmental testing services | Southeast | Commercial & Professional Services | |||
| Novipax Buyer, L.L.C. and Novipax Parent Holding Company, L.L.C. Developer and manufacturer of absorbent pads for food products | Midwest | Materials | |||
| NSM Insurance Group, LLC Insurance program administrator | Mid Atlantic | Insurance Services | |||
| NueHealth Performance, LLC Developer, builder and manager of specialty surgical hospitals and ambulatory surgery centers | Midwest | Health Care Services | |||
| Olympia Acquisition, Inc., Olympia TopCo, L.P., and Asclepius Holdings LLC Behavioral health and special education platform provider | Mid Atlantic | Health Care Services | |||
| OMH-HealthEdge Holdings, LLC Revenue cycle management provider to the healthcare industry | Southeast | Health Care Services | |||
| OneDigital Borrower LLC Benefits broker and outsourced workflow automation platform provider for brokers | Southeast | Insurance Services | |||
| Opal Fuels LLC Owner of natural gas facilities | Mid Atlantic | Power Generation | |||
| OpenMarket Inc. Provider of cloud-based mobile engagement platform | International | Software & Services | |||
| Osmose Utilities Services, Inc. and Pine Intermediate Holding LLC Provider of structural integrity management services to transmission and distribution infrastructure | Midwest | Capital Goods | |||
| OTG Management, LLC Airport restaurant operator | Mid Atlantic | Consumer Services | |||
| OUTFRONT Media Inc. Provider of out-of-home advertising | Mid Atlantic | Media & Entertainment | |||
| Padres L.P. Sports and entertainment | West | Media & Entertainment | |||
| 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 | |||
| Patriot Growth Insurance Services, LLC National retail insurance agency | Mid Atlantic | Insurance Services | |||
| Paya, Inc and GTCR-Ultra Holdings LLC Provider of payment processing and merchant acquiring solutions | Mid Atlantic | Software & Services | |||
| PayNearMe, Inc. Electronic cash payment system provider | 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 | |||
| People Corporation Provider of group benefits, group retirement and human resources services | International | Insurance Services | |||
| Perforce Software, Inc. Developer of software used for application development | Midwest | Software & Services | |||
| Petroleum Service Group LLC Provider of operational services for US petrochemical and refining companies | Southeast | Commercial & Professional Services | |||
| PhyMED Management LLC Provider of anesthesia services | Southeast | Health Care Services | |||
| Piper Jaffray Merchant Banking Fund I, L.P. Investment partnership | Midwest | Investment Funds and Vehicles | |||
| Plaskolite PPC Intermediate II LLC and Plaskolite PPC Blocker LLC Manufacturer of specialized acrylic and polycarbonate sheets | Midwest | Materials | |||
| Pluralsight, Inc. Online education learning platform | West | Software & Services | |||
| Poplicus Incorporated Business intelligence and market analytics platform for companies that sell to the public sector | West | Software & Services | |||
| PosiGen, Inc. Seller and leaser of solar power systems for residential and commercial customers | Southeast | Power Generation | |||
| Potomac Intermediate Holdings II LLC Gas turbine power generation facilities operator | Mid Atlantic | Power Generation | |||
| PracticeTek Purchaser, LLC and GSV PracticeTek Holdings, LLC Software provider for medical practitioners | Midwest | Software & Services | |||
| Precinmac (US) Holdings Inc., Trimaster Manufacturing Inc. and Blade Group Holdings, LP. Manufacturer of high-tolerance precision machined components and assemblies for the aerospace and defense industry | Northeast | Capital Goods | |||
| Premier Specialties, Inc. and RMCF V CIV XLIV, L.P. Manufacturer and supplier of natural fragrance materials and cosmeceuticals | Mid Atlantic | Household & Personal Products | |||
| Premise Health Holding Corp. and OMERS Bluejay Investment Holdings LP Provider of employer-sponsored onsite health and wellness clinics and pharmacies | Southeast | Health Care Services | |||
| Primrose Holding Corporation Franchisor of education-based early childhood centers | Southeast | Education | |||
| Priority Holdings, LLC and Priority Technology Holdings, Inc. Provider of merchant acquiring and payment processing solutions | Southeast | Diversified Financials | |||
| Pritchard Industries, LLC and LJ Pritchard TopCo Holdings, LLC Provider of janitorial and facilities management services | Mid Atlantic | Commercial & Professional Services | |||
| Production Resource Group, L.L.C. and PRG III, LLC Provider of rental equipment, labor, production management, scenery, and other products to various entertainment end-markets | Mid Atlantic | Media & Entertainment | |||
| Professional Fighters League, LLC and PFL MMA, Inc. Mixed martial arts league | Mid Atlantic | Media & Entertainment | |||
| ProfitSolv Purchaser, Inc. and PS Co-Invest, L.P. Provider of practice management software to law firms | Midwest | Software & Services | |||
| Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. Provider of data visualization software for data analytics | Mid Atlantic | Software & Services | |||
| Project Essential Bidco, Inc. and Project Essential Super Parent, Inc. Saas provider of automated crew callout and scheduling software for the utility industry | Midwest | Software & Services | |||
| Project Potter Buyer, LLC and Project Potter Parent, L.P. Software solutions provider to the ready-mix concrete industry | Southeast | Software & Services | |||
| Project Ruby Ultimate Parent Corp. Provider of care coordination and transition management software solutions | Midwest | Health Care Services | |||
| Proofpoint, Inc. Cybersecurity solutions provider | West | Software & Services | |||
| PS Operating Company LLC and PS Op Holdings LLC Specialty distributor and solutions provider to the swine and poultry markets | Midwest | Commercial & Professional Services | |||
| Pyramid Management Advisors, LLC and Pyramid Investors, LLC Hotel operator | Northeast | Consumer Services | |||
| QF Holdings, Inc. SaaS based electronic health record software provider | Southeast | Software & Services | |||
| R2 Acquisition Corp. Marketing services | West | Commercial & Professional 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.