(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, 2021, the Senior Direct Lending Program, LLC (the "SDLP") had loans to 21 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 6.9% of the total investment portfolio at fair value as of March 31, 2021.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Pelican Products, Inc. Flashlights manufacturer | West | Consumer Durables & Apparel | |||
| Penn Virginia Holding Corp. Exploration and production company | Midwest | Energy | |||
| People Corporation Provider of group benefits, group retirement and human resources services | International | Insurance Services | |||
| 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 | |||
| PhyMED Management LLC Provider of anesthesia services | Southeast | Health Care Services | |||
| Pine Holdings, Inc. Retailer of fine and artisanal paper products | Midwest | Retailing and Distribution | |||
| 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 | |||
| Poplicus Incorporated Business intelligence and market analytics platform for companies that sell to the public sector | West | Software & Services | |||
| Portillo's Holdings, LLC Fast casual restaurant brand | Midwest | Consumer Services | |||
| PosiGen Backleverage, LLC and PosiGen, Inc. Seller and leaser of solar power systems for residential and commercial customers | Southeast | Power Generation | |||
| PracticeTek Purchaser, LLC and GSV PracticeTek Holdings, LLC Software provider for medical practitioners | Midwest | Software & Services | |||
| 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 | |||
| 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 | |||
| 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 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 | |||
| Pyramid Management Advisors, LLC and Pyramid Investors, LLC Hotel operator | Northeast | Consumer Services | |||
| QC Supply, LLC Specialty distributor and solutions provider to the swine and poultry markets | Midwest | Commercial & Professional Services | |||
| QF Holdings, Inc. SaaS based electronic health record software provider | Southeast | Software & Services | |||
| R2 Acquisition Corp. Marketing services | West | Commercial & Professional Services | |||
| Radius Aerospace, Inc. and Radius Aerospace Europe Limited Metal fabricator in the aerospace industry | International | Capital Goods | |||
| Raptor Technologies, LLC and Rocket Parent, LLC Provider of SaaS-based safety and security software to the K-12 school market | Midwest | Software & Services | |||
| Rawlings Sporting Goods Company, Inc. and Easton Diamond Sports, LLC Sports equipment manufacturing company | Midwest | Consumer Durables & Apparel | |||
| RE Community Holdings GP, LLC and RE Community Holdings, LP Operator of municipal recycling facilities | Southeast | Commercial & Professional Services | |||
| Reddy Ice LLC Packaged ice manufacturer and distributor | Midwest | Retailing and Distribution | |||
| Redwood Services, LLC and Redwood Services Holdco, LLC Consolidator of residential HVAC and plumbing service providers | Southeast | Consumer Services | |||
| Reef Lifestyle, LLC Apparel retailer | West | Consumer Durables & Apparel | |||
| Regent Education, Inc. Provider of software solutions designed to optimize the financial aid and enrollment processes | Mid Atlantic | Software & Services | |||
| Research Now Group, LLC and Survey Sampling International, LLC Provider of outsourced data collection to the market research industry | Southeast | Commercial & Professional Services | |||
| Respicardia, Inc. Developer of implantable therapies to improve cardiovascular health | Midwest | Health Care Services | |||
| Retriever Medical/Dental Payments LLC, FSDC Holdings, LLC, Rectangle Ware-Ever Pay LLC and Retriever Enterprises, LLC Provider of payment processing services and software to healthcare providers | Mid Atlantic | Software & Services | |||
| RF HP SCF Investor, LLC Branded specialty food company | Mid Atlantic | Food, Beverage & Tobacco | |||
| Rialto Management Group, LLC Investment and asset management platform focused on real estate | Southeast | Diversified Financials | |||
| Riverview Power LLC Operator of natural gas and oil fired power generation facilities | Northeast | Power Generation | |||
| RMCF III CIV XXIX, L.P Software provider for clinical trial management | Mid Atlantic | Software & Services | |||
| RSC Acquisition, Inc. and RSC Insurance Brokerage, Inc. Insurance broker | Northeast | Insurance Services | |||
| RTI Surgical, Inc. and Pioneer Surgical Technology, Inc. Manufacturer of biologic, metal and synthetic implants/devices | Southeast | Health Care Services | |||
| Rug Doctor, LLC and RD Holdco Inc. Manufacturer and marketer of carpet cleaning machines | Midwest | Household & Personal Products | |||
| S Toys Holdings LLC (fka The Step2 Company, LLC) Toy manufacturer | Midwest | Consumer Durables & Apparel | |||
| Safe Home Security, Inc., Security Systems Inc., Safe Home Monitoring, Inc., National Protective Services, Inc., Bright Integrations LLC and Medguard Alert, Inc. Provider of safety systems for business and residential customers | Northeast | Consumer Services | |||
| SCI PH Parent, Inc. Industrial container manufacturer, reconditioner and servicer | Midwest | Materials | |||
| SCIH Salt Holdings, Inc. Salt and packaged ice melt manufacturer and distributor | Midwest | Retailing and Distribution | |||
| SCM Insurance Services Inc. Provider of claims management, claims investigation & support and risk management solutions for the Canadian property and casualty insurance industry | International | Insurance Services | |||
| SCSG EA Acquisition Company, Inc. Provider of outsourced clinical services to hospitals and health systems | Southeast | Health Care Services | |||
| SE1 Generation, LLC Solar power developer | Southeast | Power Generation | |||
| SelectQuote, Inc. Direct to consumer insurance distribution platform | Midwest | Insurance Services | |||
| Senior Direct Lending Program, LLC Co-investment vehicle | West | Investment Funds and Vehicles | |||
| SERV 2020-1 Provider of restoration and cleaning services to commercial and residential customers | Southeast | Consumer Services | |||
| Severin Acquisition, LLC, PeopleAdmin, Inc., Promachos Holding, Inc. and Performance Matters LLC Provider of student information system software solutions to the K-12 education market | West | Software & Services | |||
| SFE Intermediate Holdco LLC Provider of outsourced foodservice to K-12 school districts | West | Food & Staples Retailing |
*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.