(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 |
|---|---|---|---|---|---|
| SCIH Salt Holdings Inc. Salt and packaged ice melt manufacturer and distributor | Midwest | Retailing & 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 | |||
| 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 | |||
| SecurAmerica, LLC, ERMC LLC, ERMC Of America, LLC, SecurAmerica Corporation, ERMC Aviation LLC, American Security Programs, Inc., USI LLC and Argenbright Holdings IV, LLC Provider of outsourced manned security guard services, outsourced facilities management and outsourced aviation services | Southeast | Commercial & Professional Services | |||
| SecurAmerica, LLC, ERMC LLC, ERMC Of America, LLC, SecurAmerica Corporation, SecurAmerica Aviation Security LLC, American Security Programs, Inc., USI LLC, Argenbright Holdings IV, LLC and Scrub Holdings, Inc Provider of outsourced manned security guard services, outsourced facilities management and outsourced aviation services | Southeast | Commercial & Professional Services | |||
| Securelink, Inc. Provider of a SaaS third-party remote access software platform | Midwest | Software & Services | |||
| SelectQuote, Inc. Direct to consumer insurance distribution platform | Midwest | Insurance | |||
| Senior Direct Lending Program, LLC Co-investment vehicle | West | Investment Funds and Vehicles | |||
| 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 | |||
| SG Acquisition, Inc. Provider of insurance solutions for car sales | Southeast | Insurance | |||
| SHO Holding I Corporation Manufacturer and distributor of slip resistant footwear | Southeast | Consumer Durables & Apparel | |||
| Shock Doctor, Inc. and Shock Doctor Holdings, LLC Developer, marketer and distributor of sports protection equipment and accessories | Midwest | Consumer Durables & Apparel | |||
| SIGOS LLC Web and mobile cloud performance testing and monitoring services provider | West | Software & Services | |||
| Simpson Performance Products, Inc. Provider of motorsports safety equipment | Midwest | Consumer Durables & Apparel | |||
| Singer Sewing Company, SVP-Singer Holdings, LLC and SVP-Singer Holdings LP Manufacturer of consumer sewing machines | Southeast | Consumer Durables & Apparel | |||
| SiroMed Physician Services, Inc. and SiroMed Equity Holdings, LLC Outsourced anesthesia provider | Southeast | Health Care Services | |||
| SK SPV IV, LLC Collision repair site operator | Midwest | Automobiles & Components | |||
| SM Wellness Holdings, Inc. and SM Holdco, Inc. Breast cancer screening provider | Midwest | Health Care Services | |||
| SocialFlow, Inc. Social media optimization platform provider | Mid Atlantic | Software & Services | |||
| Sonny's Enterprises, LLC Manufacturer and supplier of car wash equipment, parts and supplies to the conveyorized car wash market | Southeast | Commercial & Professional Services | |||
| SoundCloud Limited Platform for receiving, sending, and distributing music | International | Software & Services | |||
| Sovos Brands Intermediate, Inc. Food and beverage platform | West | Food, Beverage & Tobacco | |||
| SpareFoot, LLC PMS solutions and web services for the self-storage industry | Midwest | Software & Services | |||
| Sparta Systems, Inc., Project Silverback Holdings Corp. and Silverback Holdings, Inc. Quality management software provider | Mid Atlantic | Software & Services | |||
| Spectra Finance, LLC Venue management and food and beverage provider | Mid Atlantic | Consumer Services | |||
| Spin HoldCo Inc. Laundry service and equipment provider | Mid Atlantic | Consumer Services | |||
| Star US Bidco LLC Manufacturer of pumps, compressors and other highly-engineered equipment for mission-critical applications | West | Capital Goods | |||
| Startec Equity, LLC Communication services | West | Commercial & Professional Services | |||
| Storm UK Holdco Limited and Storm US Holdco Inc. Provider of water infrastructure software solutions for municipalities / utilities and engineering consulting firms | International | Software & Services | |||
| Sundance Energy, Inc. Oil and gas producer | West | Energy | |||
| Sunk Rock Foundry Partners LP, Hatteras Electrical Manufacturing Holding Company and Sigma Electric Manufacturing Corporation Manufacturer of metal castings, precision machined components and sub-assemblies in the electrical products, power transmission and distribution and general industrial markets | Southeast | Capital Goods | |||
| Sunrun Atlas Depositor 2019-2, LLC and Sunrun Atlas Holdings 2019-2, LLC Residential solar energy provider | West | Power Generation | |||
| Sunrun Xanadu Issuer 2019-1, LLC and Sunrun Xanadu Holdings 2019-1, LLC Residential solar energy provider | West | Power Generation | |||
| Sunshine Sub, LLC Premier health club operator | Southeast | Consumer Services | |||
| Surf Holdings, LLC Cybersecurity solutions provider | International | Software & Services | |||
| Synergy HomeCare Franchising, LLC and NP/Synergy Holdings, LLC Franchisor of private-pay home care for the elderly | West | Health Care Services | |||
| Systematic Power Manufacturing, LLC Manufacturer and supplier of batteries and ultracapacitors for automotive markets | Southeast | Automobiles & Components | |||
| TA/WEG Holdings, LLC Wealth management and financial planning firm | Midwest | Diversified Financials | |||
| Taymax Group, L.P., Taymax Group G.P., LLC, PF Salem Canada ULC and TCP Fit Parent, L.P. Planet Fitness franchisee | Northeast | Consumer Services | |||
| TDG Group Holding Company and TDG Co-Invest, LP Operator of multiple franchise concepts primarily related to home maintenance or repairs | Midwest | Commercial & Professional Services | |||
| Teasdale Foods, Inc. and Familia Group Holdings Inc. Provider of beans, sauces and hominy to the retail, foodservice and wholesale channels | West | Food, Beverage & Tobacco | |||
| Telestream Holdings Corporation Provider of digital video tools and workflow solutions to the media and entertainment industries | West | Software & Services | |||
| Teligent, Inc. Pharmaceutical company that develops, manufactures and markets injectable pharmaceutical products | Mid Atlantic | Health Care Services | |||
| TerSera Therapeutics LLC Acquirer and developer of specialty therapeutic pharmaceutical products | Midwest | Pharmaceuticals, Biotechnology & Life Sciences | |||
| The Alaska Club Partners, LLC, Athletic Club Partners LLC and The Alaska Club, Inc. Premier health club operator | West | Consumer Services | |||
| The Teaching Company Holdings, Inc. Education publications provider | Mid Atlantic | Media & Entertainment | |||
| The Ultimate Software Group, Inc. and H&F Unite Partners, L.P. Provider of cloud based HCM solutions for businesses | Southeast | Software & Services | |||
| The Ultimus Group Midco, LLC, The Ultimus Group, LLC, and The Ultimus Group Aggregator, LP Provider of asset-servicing capabilities for fund managers | Mid Atlantic | Diversified Financials | |||
| THG Acquisition, LLC Multi-line insurance broker | Mid Atlantic | Insurance | |||
| TimeClock Plus, LLC Workforce management solutions provider | Midwest | Software & Services | |||
| Totes Isotoner Corporation and Totes Ultimate Holdco, Inc. Designer, marketer, and distributor of rain and cold weather products | Midwest | Consumer Durables & Apparel | |||
| Touchstone Acquisition, Inc. and Touchstone Holding, L.P. Manufacturer of consumable products in the dental, medical, cosmetic and CPG/industrial end-markets | Southeast | Health Care Services | |||
| TWH Infrastructure Industries, Inc. Provider of engineered products used in the trenchless rehabilitation of wastewater infrastructure | Midwest | Materials | |||
| Tyden Group Holding Corp. Producer and marketer of global cargo security, product identification and traceability products and utility meter products | International | Commercial & Professional 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.