(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, 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% of the total investment portfolio at fair value as of March 31, 2020.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Pathway Vet Alliance LLC and Pathway Vet Alliance Holding LLC Veterinary hospital operator | Midwest | Health Care Services | |||
| Patterson Medical Supply, Inc. Distributor of rehabilitation supplies and equipment | 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 | |||
| PetIQ, LLC Distributor and manufacturer of pet prescription medications and health products | West | 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 | |||
| PHL Investors, Inc., and PHL Holding Co. Mortgage services | Mid Atlantic | Commercial & Professional Services | |||
| PHNTM Holdings, Inc. and Planview Parent, Inc. Provider of project and portfolio management software | Midwest | Software & Services | |||
| PhyMED Management LLC Provider of anesthesia services | Southeast | Health Care Services | |||
| PIH Corporation and Primrose Holding Corporation Franchisor of education-based early childhood centers | Southeast | Education | |||
| Pillar Processing LLC and PHL Investors, Inc. Mortgage services | Mid Atlantic | Commercial & Professional Services | |||
| Pine Holdings, Inc. Retailer of fine and artisanal paper products | Midwest | Retailing & Distribution | |||
| Piper Jaffray Merchant Banking Fund I, L.P. Investment partnership | Midwest | Investment Funds and Vehicles | |||
| Plantation Products, LLC, Seed Holdings, Inc. and Flora Parent, Inc. Provider of branded lawn and garden products | Northeast | Household & Personal Products | |||
| 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 | |||
| 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. Provider of rental equipment, labor, production management, scenery, and other products to various entertainment end-markets | Mid Atlantic | Media & Entertainment | |||
| Project Alpha Intermediate Holding, Inc. and Qlik Parent, Inc. Provider of data visualization software for data analytics | Mid Atlantic | Software & Services | |||
| ProVation Medical, Inc. Provider of documentation and coding software for GI physicians | Midwest | Health Care Services | |||
| Puerto Rico Waste Investment LLC Waste management service provider | International | Commercial & Professional 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 | |||
| 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 & Distribution | |||
| 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 | |||
| Revint Intermediate II, LLC Revenue cycle consulting firm to the healthcare industry | Northeast | Commercial & Professional 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 | |||
| RTI Surgical, 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 | |||
| Saw Mill PCG Partners LLC Manufacturer of metal precision engineered components | Midwest | Capital Goods | |||
| SCI PH Parent, Inc. Industrial container manufacturer, reconditioner and servicer | Midwest | Materials |
*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.