(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, 2022, 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 equity and subordinated loan investments in IHAM
(4) Includes ARCC's investment in the SDLP, which represented 5.3% of the total investment portfolio at fair value as of September 30, 2022.
Portfolio of Investments
| Company/Description | Region | Senior Secured Loan* | Senior Subordinated | Equity/Other | Industry |
|---|---|---|---|---|---|
| Opal Fuels LLC and Opal Fuels Inc. 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 | |||
| Park Place Technologies, LLC Provider of hardware maintenance and support services for IT data centers | Midwest | Software & Services | |||
| 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 | |||
| PDDS HoldCo, Inc. Provider of cloud-based dental practice management software | West | Software & Services | |||
| 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 | |||
| PetVet Care Centers, LLC Veterinary hospital operator | Northeast | Health Care Services | |||
| Petvisor Holdings, LLC Provider of veterinarian-focused SaaS solutions | West | Software & 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 | |||
| Pluto Acquisition I, Inc. Provider of post-acute healthcare services including skilled and private-duty nursing, hospice, palliative care and medical homecare | Southeast | Health Care Services | |||
| Polymer Solutions Group, LLC Manufacturer of chemical formulations that improve the processing and efficacy of rubber, resin, and engineered wood based end-products | Midwest | Materials | |||
| 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 | |||
| 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 | |||
| Precisely Software Incorporated (f/k/a Syncsort Incorporated) Provider of software specializing in improving the integrity and quality of Big Data | Mid Atlantic | Software & Services | |||
| Precision Concepts International LLC and Precision Concepts Canada Corporation Manufacturer of diversified packaging solutions and plastic injection molded products | Southeast | Materials | |||
| 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 | |||
| Prime Buyer, L.L.C. Provider of track systems, cabs, hulls, doors, and various armored components for defense/military vehicle applications | Midwest | Capital Goods | |||
| 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 | |||
| Pueblo Mechanical and Controls, LLC and OMERS PMC Investment Holdings LLC Provider of commercial HVAC services | West | Consumer 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 | |||
| Radius Aerospace, Inc. and Radius Aerospace Europe Limited Metal fabricator in the aerospace industry | Southeast | Capital Goods | |||
| Raptor Technologies, LLC, Sycamore Bidco LTD 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 | |||
| RB Holdings InterCo, LLC Manufacturer of pet food and treats | West | Food & Beverage |
*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.